• In the first quarter of 2012, the Company achieved an average oil production of 341 barrels/day (Bbls/d). The Company estimates for the month of June 2012, oil production will be approximately 1,100 Bbls/d, representing a 224% increase over the 2012 first quarter average.
  
• Total production for the first quarter 2012 was 596,000 BOE, which includes 31,000 Bbls of oil and 146,000 Bbls of NGLs. The NGL production represents a 35% increase over previous guidance due primarily to a change in the dispatch of our natural gas to plants with higher NGL recoveries and plant efficiencies. Oil production for the first quarter 2012 represents a 41% increase over first quarter 2011, and NGL production in the first quarter 2012 represents a 121% increase over the first quarter of 2011.
  
• Natural gas production for the three months ended March 31, 2012 decreased to 2.5 Bcfe compared to 5.5 Bcfe for the three months ended March 31, 2011, a decrease of 54%. If we add back the VPP volumes of 1.2 Bcfe, natural gas production decreased by 1.8 Bcfe, or 33%. The decrease in natural gas production resulted primarily from the natural decline in the Company's Haynesville/Bossier (H/B) wells as a result of the Company's suspension of its H/B horizontal drilling program in mid-2011, as well as the conversion of more natural gas into NGLs.
  
• Production guidance for the second quarter 2012 is estimated by the Company to be 591,000 BOE, which includes 80,000 Bbls of oil and 94,000 Bbls of NGLs. Full year 2012 guidance is estimated by the Company to be 2,355,000 BOE, which includes 346,000 Bbls of oil and 473,000 Bbls of NGLs. Oil and NGLs are estimated to be 35% of total 2012 production and 76% of total 2012 revenues, excluding income from hedges, as oil and NGL production ramps up in the Williston Basin. The decrease in second quarter NGL production guidance is due to a declared force majeure at a Carthage Texas plant that lasted for two weeks that had an estimated 15,000 Bbl impact, and the sale of a portion of our un-processed gas in the Carthage Texas area for a total price that is greater than the combined estimated price of residue gas and the net processing upgrade. Since the NGLs can be left in or extracted from the gas stream, we will continue to make gas dispatch decisions based on maximizing the total sales value of the hydrocarbons for GMXR.