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Employer) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.07 523.45 Td ( ) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 459.07 523.45 Td (Identification No.\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 147.20 506.43 Td (5320 Legacy Drive,) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 162.70 498.43 Td (Plano, ) Tj ET Q q 0 0 0 rg BT 186.11 498.43 Td (TX) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 507.15 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 364.00 506.30 Td (�) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.00 498.43 Td (75024) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 117.50 486.15 Td (\(Addr) Tj ET Q q 0 0 0 rg BT 136.02 486.15 Td (ess of principal executive offices\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.00 486.15 Td (�) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 443.55 486.15 Td (\(Zip Code\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 8.00 Tf ET q 0 0 0 rg BT 97.35 463.15 Td (Registrant�) Tj ET Q q 0 0 0 rg BT 132.46 463.15 Td (s telephone number) Tj ET Q q 0 0 0 rg BT 194.78 463.15 Td (, 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ET q 0 0 0 rg BT 58.50 422.48 Td (T) Tj ET Q q 0 0 0 rg BT 63.76 422.48 Td (itle of Each Class:) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 361.50 422.48 Td (Name of Each Exchange on ) Tj ET Q q 0 0 0 rg BT 457.13 422.48 Td (Which Register) Tj ET Q q 0 0 0 rg BT 510.09 422.48 Td (ed:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 409.35 Td (Common Stock $.001 Par ) Tj ET Q q 0 0 0 rg BT 143.10 409.35 Td (V) Tj ET Q q 0 0 0 rg BT 148.36 409.35 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.50 409.35 Td (New ) Tj ET Q q 0 0 0 rg BT 378.31 409.35 Td (Y) Tj ET Q q 0 0 0 rg BT 383.29 409.35 Td (ork Stock Exchange) Tj ET Q BT /F1 10.00 Tf ET BT /F2 8.00 Tf ET q 0 0 0 rg BT 49.50 385.70 Td (Securities r) Tj ET Q q 0 0 0 rg BT 88.23 385.70 Td (egister) Tj ET Q q 0 0 0 rg BT 110.74 385.70 Td (ed pursuant to Section 12\(g\) of the ) Tj ET Q q 0 0 0 rg BT 229.63 385.70 Td (Act:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 244.29 385.70 Td ( None) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 366.50 Td (Indicate by check mark if the registrant is a well-known seasoned issuer) Tj ET Q q 0 0 0 rg BT 279.55 366.50 Td (, as defined in Rule 405 of the Securities ) Tj ET Q q 0 0 0 rg BT 411.07 366.50 Td (Act.��) Tj ET Q q 0 0 0 rg BT 428.33 366.50 Td (Y) Tj ET Q q 0 0 0 rg BT 433.30 366.50 Td (es ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 441.97 364.77 cm /I4 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 449.10 366.50 Td (�� No ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 466.88 364.77 cm /I5 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 348.50 Td (Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15\(d\) of the ) Tj ET Q q 0 0 0 rg BT 418.29 348.50 Td (Act. ) Tj ET Q q 0 0 0 rg BT 433.54 348.50 Td (Y) Tj ET Q q 0 0 0 rg BT 438.52 348.50 Td (es ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 447.18 346.77 cm /I6 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.31 348.50 Td (�� No ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 472.09 346.77 cm /I7 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 330.50 Td (Indicate by check mark whether the registrant \(1\) has filed all reports required to be filed by Section 13 or 15\(d\) of the Securities Exchange ) Tj ET Q q 0 0 0 rg BT 497.12 330.50 Td (Act of 1934 during ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 320.90 Td (the preceding 12 months \(or for such shorter period that the registrant was required to file such reports\), and \(2\) has been subject to such filing requirements for ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 311.30 Td (the past 90 days.��) Tj ET Q q 0 0 0 rg BT 106.53 311.30 Td (Y) Tj ET Q q 0 0 0 rg BT 111.50 311.30 Td (es ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 120.17 309.57 cm /I8 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 127.30 311.30 Td (�� No ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 145.08 309.57 cm /I9 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 293.30 Td (Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule�405 \(�232.405 ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 283.70 Td (of this chapter\) of Regulation S-T) Tj ET Q q 0 0 0 rg BT 157.55 283.70 Td ( during the preceding 12�months \(or for such shorter period that the registrant was required to submit such files\). ) Tj ET Q q 0 0 0 rg BT 519.16 283.70 Td (Y) Tj ET Q q 0 0 0 rg BT 524.14 283.70 Td (es ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 532.80 281.97 cm /I10 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 539.94 283.70 Td (�� No ) Tj ET Q /GS0 gs q 7.13 0 0 8.81 49.50 272.46 cm /I11 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 256.10 Td (Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K \(�229.405 of this chapter\) is not contained herein, and will not ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 246.50 Td (be contained, to the best of registrant�) Tj ET Q q 0 0 0 rg BT 170.13 246.50 Td (s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any ) Tj ET 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8.00 Tf ET q 0 0 0 rg BT 49.50 199.70 Td (in Rule 12-b2 of the Exchange ) Tj ET Q q 0 0 0 rg BT 149.03 199.70 Td (Act.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 190.10 Td (Lar) Tj ET Q q 0 0 0 rg BT 60.46 190.10 Td (ge accelerated filer ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 123.30 188.37 cm /I13 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 130.43 190.10 Td (�� ) Tj ET Q q 0 0 0 rg BT 135.99 190.10 Td (Accelerated filer ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 191.50 188.37 cm /I14 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 198.63 190.10 Td (�� Non-accelerated filer ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 274.36 188.37 cm /I15 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 281.49 190.10 Td (� Smaller reporting company ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 377.02 188.37 cm /I16 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.15 190.10 Td ( Emer) Tj ET Q q 0 0 0 rg BT 407.33 190.10 Td (ging growth company ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 479.54 188.37 cm /I17 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 172.10 Td (If an emer) Tj ET Q q 0 0 0 rg BT 82.22 172.10 Td (ging growth company) Tj ET Q q 0 0 0 rg BT 151.91 172.10 Td (, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 162.50 Td (revised financial accounting standards provided pursuant to Section 13\(a\) of the Exchange ) Tj ET Q q 0 0 0 rg BT 340.52 162.50 Td (Act. ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 358.07 160.77 cm /I18 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 144.50 Td (Indicate by check mark whether the registrant is a shell company \(as defined in Rule 12b-2 of the ) Tj ET Q q 0 0 0 rg BT 362.73 144.50 Td (Act\).��) Tj ET Q q 0 0 0 rg BT 382.65 144.50 Td (Y) Tj ET Q q 0 0 0 rg BT 387.63 144.50 Td (es ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 396.29 142.77 cm /I19 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.42 144.50 Td (�� No ) Tj ET Q /GS0 gs q 7.13 0 0 8.27 421.20 142.77 cm /I20 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 125.30 Td (The aggregate market value of the registrant�) Tj ET Q q 0 0 0 rg BT 193.43 125.30 Td (s common stock held by non-af) Tj ET Q q 0 0 0 rg BT 293.94 125.30 Td (filiates, based on the closing price of the registrant�) Tj ET Q q 0 0 0 rg BT 457.66 125.30 Td (s common stock as of the last ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 115.70 Td (business day of the registrant�) Tj ET Q q 0 0 0 rg BT 145.04 115.70 Td (s most recently completed second fiscal quarter was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.42 115.70 Td ($2,178,055,595) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.42 115.70 Td (.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 49.50 97.70 Td (The number of shares outstanding of the registrant�) Tj ET Q q 0 0 0 rg BT 213.23 97.70 Td (s Common Stock as of January 31, ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.56 97.70 Td (2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 342.56 97.70 Td (, was ) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 97.70 Td (460,442,251) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 401.00 97.70 Td (.) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 202.85 76.05 Td (DOCUMENTS INCORPORA) Tj ET Q q 0 0 0 rg BT 318.43 76.05 Td (TED BY) Tj ET Q q 0 0 0 rg BT 351.36 76.05 Td ( REFERENCE) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 57.63 Td (Document:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.50 57.50 Td (�) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 441.50 57.63 Td (Incorporated ) Tj ET Q q 0 0 0 rg BT 488.83 57.63 Td (as ) Tj ET Q q 0 0 0 rg BT 497.94 57.63 Td (to:) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 43.80 Td (1. Notice and Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 175.14 43.80 Td (Annual Meeting of�Stockholders to be held May 22, 2019.) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.50 44.50 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 441.50 44.50 Td (1.��Part ) Tj ET Q q 0 0 0 rg BT 466.39 44.50 Td (III, ) Tj ET Q q 0 0 0 rg BT 478.38 44.50 Td (Items ) Tj ET Q q 0 0 0 rg BT 498.15 44.50 Td (10, ) Tj ET Q q 0 0 0 rg BT 510.15 44.50 Td (1) Tj ET Q q 0 0 0 rg BT 513.86 44.50 Td (1, ) Tj ET Q q 0 0 0 rg BT 521.86 44.50 Td (12, ) Tj ET Q q 0 0 0 rg BT 533.86 44.50 Td (13, ) Tj ET Q q 0 0 0 rg BT 545.86 44.50 Td (14) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 2.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 20.75 m 561.5 20.75 l s BT /F1 10.00 Tf ET endstream endobj 5 0 obj <> endobj 6 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 30.60 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 231.40 726.75 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 251.40 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 253.35 726.75 Td (Annual Report on Form�10-K) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 267.20 714.75 Td (�) Tj ET Q q 0 0 0 rg BT 269.52 714.75 Td (T) Tj ET Q q 0 0 0 rg BT 275.27 714.75 Td (able of Contents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.71 714.75 Td (�) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 689.25 m 562 689.25 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 693.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 693.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 693.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.25 693.92 Td (Page) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 679.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 678.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 679.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.50 678.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 664.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 663.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 664.82 Td (Glossary and Selected ) Tj ET Q q 0 0 0 rg BT 208.31 664.82 Td (Abbreviations) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 649.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 648.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 649.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 648.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 634.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 633.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 634.82 Td (P) Tj ET Q q 0 0 0 rg BT 122.14 634.82 Td (AR) Tj ET Q q 0 0 0 rg BT 135.43 634.82 Td (T) Tj ET Q q 0 0 0 rg BT 141.36 634.82 Td ( I) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 633.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 619.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 618.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 619.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 618.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 604.82 Td (Item�1.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 603.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 604.82 Td (Business and Properties) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 589.82 Td (Item�1A.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 588.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 589.82 Td (Risk Factors) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 574.82 Td (Item�1B.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 573.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 574.82 Td (Unresolved Staf) Tj ET Q q 0 0 0 rg BT 182.03 574.82 Td (f Comments) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 559.82 Td (Item�2.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 558.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 559.82 Td (Properties) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 544.82 Td (Item�3.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 543.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 544.82 Td (Legal Proceedings) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 529.82 Td (Item 4.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 528.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 529.82 Td (Mine Safety Disclosures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 514.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 513.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 514.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 513.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 499.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 498.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 499.82 Td (P) Tj ET Q q 0 0 0 rg BT 122.14 499.82 Td (AR) Tj ET Q q 0 0 0 rg BT 135.43 499.82 Td (T) Tj ET Q q 0 0 0 rg BT 141.36 499.82 Td ( II) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 498.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 484.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 483.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 484.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 483.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 469.82 Td (Item�5.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 458.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 468.92 Td (Market for Registrant�) Tj ET Q q 0 0 0 rg BT 206.92 468.92 Td (s Common Equity) Tj ET Q q 0 0 0 rg BT 279.05 468.92 Td (, Related Stockholder Matters and Issuer Purchases ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 458.92 Td (of Equity Securities) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 444.82 Td (Item�6.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 443.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 444.82 Td (Selected Financial Data) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 429.82 Td (Item�7.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 428.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 429.82 Td (Management�) Tj ET Q q 0 0 0 rg BT 172.48 429.82 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 241.65 429.82 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 414.82 Td (Item�7A.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 413.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 414.82 Td (Quantitative and Qualitative Disclosures ) Tj ET Q q 0 0 0 rg BT 281.90 414.82 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 399.82 Td (Item�8.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 398.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 399.82 Td (Financial Statements and Supplementary Information) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 384.82 Td (Item�9.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 383.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 384.82 Td (Changes in and Disagreements with ) Tj ET Q q 0 0 0 rg BT 263.31 384.82 Td (Accountants on ) Tj ET Q q 0 0 0 rg BT 327.74 384.82 Td (Accounting and Financial Disclosure) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 369.82 Td (Item�9A.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 368.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 369.82 Td (Controls and Procedures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 354.82 Td (Item�9B.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 353.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 354.82 Td (Other Information) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 339.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 338.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 339.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 338.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 324.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 323.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 324.82 Td (P) Tj ET Q q 0 0 0 rg BT 122.14 324.82 Td (AR) Tj ET Q q 0 0 0 rg BT 135.43 324.82 Td (T) Tj ET Q q 0 0 0 rg BT 141.36 324.82 Td ( III) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 323.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 309.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 308.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 309.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 308.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 294.82 Td (Item�10.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 293.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 294.82 Td (Directors, Executive Of) Tj ET Q q 0 0 0 rg BT 212.56 294.82 Td (ficers and Corporate Governance) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 279.82 Td (Item�1) Tj ET Q q 0 0 0 rg BT 77.95 279.82 Td (1.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 278.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 279.82 Td (Executive Compensation) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 264.82 Td (Item�12.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 253.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 263.92 Td (Security Ownership of Certain Beneficial Owners and Management and Related Stockholder ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 253.92 Td (Matters) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 239.82 Td (Item�13.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 238.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 239.82 Td (Certain Relationships and Related ) Tj ET Q q 0 0 0 rg BT 256.18 239.82 Td (T) Tj ET Q q 0 0 0 rg BT 261.93 239.82 Td (ransactions, and Director Independence) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 224.82 Td (Item�14.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 223.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 224.82 Td (Principal ) Tj ET Q q 0 0 0 rg BT 155.55 224.82 Td (Accountant Fees and Services) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 209.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 208.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 209.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 208.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 194.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 193.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 194.82 Td (P) Tj ET Q q 0 0 0 rg BT 122.14 194.82 Td (AR) Tj ET Q q 0 0 0 rg BT 135.43 194.82 Td (T) Tj ET Q q 0 0 0 rg BT 141.36 194.82 Td ( IV) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 193.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 179.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 178.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 179.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 178.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 164.82 Td (Item�15.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 163.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 164.82 Td (Exhibits and Financial Statement Schedules) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 149.82 Td (Item 16.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 149.82 Td (Form 10-K Summary) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 134.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.50 133.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.50 134.82 Td (Signatures) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.50 663.92 Td (3) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.50 603.92 Td (5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 588.92 Td (26) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 573.92 Td (32) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 558.92 Td (32) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 543.92 Td (33) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 528.92 Td (34) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 458.92 Td (35) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 443.92 Td (37) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 428.92 Td (39) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 413.92 Td (63) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 398.92 Td (63) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 383.92 Td (104) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 368.92 Td (104) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 353.92 Td (104) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 293.92 Td (105) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 278.92 Td (105) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 253.92 Td (105) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 238.92 Td (105) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 223.92 Td (105) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.50 163.92 Td (106) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.20 148.92 Td (1) Tj ET Q q 0 0 0 rg BT 548.83 148.92 Td (1) Tj ET Q q 0 0 0 rg BT 553.46 148.92 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.85 133.92 Td (1) Tj ET Q q 0 0 0 rg BT 548.48 133.92 Td (12) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 7 0 obj <> endobj 8 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 30.60 Td (3) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 227.85 726.75 Td (Glossary and Selected ) Tj ET Q q 0 0 0 rg BT 323.68 726.75 Td (Abbr) Tj ET Q q 0 0 0 rg BT 346.29 726.75 Td (eviations) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 700.82 Td (Bbl) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 700.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.28 700.82 Td (stock ) Tj ET Q q 0 0 0 rg BT 177.51 700.82 Td (tank ) Tj ET Q q 0 0 0 rg BT 196.85 700.82 Td (barrel, ) Tj ET Q q 0 0 0 rg BT 224.79 700.82 Td (of ) Tj ET Q q 0 0 0 rg BT 235.25 700.82 Td (42 ) Tj ET Q q 0 0 0 rg BT 247.37 700.82 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 267.28 700.82 Td (gallons ) Tj ET Q q 0 0 0 rg BT 298.29 700.82 Td (liquid ) Tj ET Q q 0 0 0 rg BT 323.74 700.82 Td (volume, ) Tj ET Q q 0 0 0 rg BT 358.36 700.82 Td (used ) Tj ET Q q 0 0 0 rg BT 378.81 700.82 Td (herein ) Tj ET Q q 0 0 0 rg BT 405.92 700.82 Td (in ) Tj ET Q q 0 0 0 rg BT 415.82 700.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 455.13 700.82 Td (to ) Tj ET Q q 0 0 0 rg BT 465.03 700.82 Td (crude ) Tj ET Q q 0 0 0 rg BT 489.36 700.82 Td (oil ) Tj ET Q q 0 0 0 rg BT 502.04 700.82 Td (or ) Tj ET Q q 0 0 0 rg BT 512.49 700.82 Td (other ) Tj ET Q q 0 0 0 rg BT 535.16 700.82 Td (liquid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 688.82 Td (hydrocarbons.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 669.82 Td (Bbls/d) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 669.82 Td (Barrels ) Tj ET Q q 0 0 0 rg BT 166.88 669.82 Td (of ) Tj ET Q q 0 0 0 rg BT 177.71 669.82 Td (oil ) Tj ET Q q 0 0 0 rg BT 190.76 669.82 Td (or ) Tj ET Q q 0 0 0 rg BT 201.59 669.82 Td (other ) Tj ET Q q 0 0 0 rg BT 224.64 669.82 Td (liquid ) Tj ET Q q 0 0 0 rg BT 250.48 669.82 Td (hydrocarbons ) Tj ET Q q 0 0 0 rg BT 307.40 669.82 Td (produced ) Tj ET Q q 0 0 0 rg BT 347.11 669.82 Td (per ) Tj ET Q q 0 0 0 rg BT 362.38 669.82 Td (day) Tj ET Q q 0 0 0 rg BT 376.17 669.82 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 650.82 Td (Bcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 650.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 650.82 Td (billion ) Tj ET Q q 0 0 0 rg BT 183.27 650.82 Td (cubic ) Tj ET Q q 0 0 0 rg BT 207.43 650.82 Td (feet ) Tj ET Q q 0 0 0 rg BT 224.91 650.82 Td (of ) Tj ET Q q 0 0 0 rg BT 235.74 650.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 266.01 650.82 Td (gas ) Tj ET Q q 0 0 0 rg BT 281.84 650.82 Td (or ) Tj ET Q q 0 0 0 rg BT 292.67 650.82 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 306.56 649.39 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.81 650.82 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 631.82 Td (BOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 631.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.75 631.82 Td (barrel ) Tj ET Q q 0 0 0 rg BT 180.66 631.82 Td (of ) Tj ET Q q 0 0 0 rg BT 191.58 631.82 Td (oil ) Tj ET Q q 0 0 0 rg BT 204.73 631.82 Td (equivalent, ) Tj ET Q q 0 0 0 rg BT 251.47 631.82 Td (using ) Tj ET Q q 0 0 0 rg BT 275.73 631.82 Td (the ) Tj ET Q q 0 0 0 rg BT 290.54 631.82 Td (ratio ) Tj ET Q q 0 0 0 rg BT 311.46 631.82 Td (of ) Tj ET Q q 0 0 0 rg BT 322.38 631.82 Td (one ) Tj ET Q q 0 0 0 rg BT 339.41 631.82 Td (barrel ) Tj ET Q q 0 0 0 rg BT 365.32 631.82 Td (of ) Tj ET Q q 0 0 0 rg BT 376.24 631.82 Td (crude ) Tj ET Q q 0 0 0 rg BT 401.04 631.82 Td (oil, ) Tj ET Q q 0 0 0 rg BT 416.69 631.82 Td (condensate ) Tj ET Q q 0 0 0 rg BT 463.70 631.82 Td (or ) Tj ET Q q 0 0 0 rg BT 474.63 631.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 504.98 631.82 Td (gas ) Tj ET Q q 0 0 0 rg BT 520.90 631.82 Td (liquids ) Tj ET Q q 0 0 0 rg BT 550.72 631.82 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 621.82 Td (6 ) Tj ET Q q 0 0 0 rg BT 143.00 621.82 Td (Mcf ) Tj ET Q q 0 0 0 rg BT 162.16 621.82 Td (of ) Tj ET Q q 0 0 0 rg BT 172.99 621.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 203.25 621.82 Td (gas.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 602.82 Td (BOE/d) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 602.82 Td (BOEs ) Tj ET Q q 0 0 0 rg BT 161.89 602.82 Td (produced ) Tj ET Q q 0 0 0 rg BT 201.60 602.82 Td (per ) Tj ET Q q 0 0 0 rg BT 216.87 602.82 Td (day) Tj ET Q q 0 0 0 rg BT 230.98 602.82 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 583.82 Td (Btu) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 583.82 Td (British ) Tj ET Q q 0 0 0 rg BT 165.05 583.82 Td (thermal ) Tj ET Q q 0 0 0 rg BT 197.91 583.82 Td (unit, ) Tj ET Q q 0 0 0 rg BT 218.28 583.82 Td (which ) Tj ET Q q 0 0 0 rg BT 245.04 583.82 Td (is ) Tj ET Q q 0 0 0 rg BT 254.03 583.82 Td (the ) Tj ET Q q 0 0 0 rg BT 268.57 583.82 Td (heat ) Tj ET Q q 0 0 0 rg BT 287.54 583.82 Td (required ) Tj ET Q q 0 0 0 rg BT 323.18 583.82 Td (to ) Tj ET Q q 0 0 0 rg BT 333.27 583.82 Td (raise ) Tj ET Q q 0 0 0 rg BT 354.47 583.82 Td (the ) Tj ET Q q 0 0 0 rg BT 369.01 583.82 Td (temperature ) Tj ET Q q 0 0 0 rg BT 419.07 583.82 Td (of ) Tj ET Q q 0 0 0 rg BT 429.72 583.82 Td (a ) Tj ET Q q 0 0 0 rg BT 436.48 583.82 Td (one-pound ) Tj ET Q q 0 0 0 rg BT 481.57 583.82 Td (mass ) Tj ET Q q 0 0 0 rg BT 503.89 583.82 Td (of ) Tj ET Q q 0 0 0 rg BT 514.54 583.82 Td (water ) Tj ET Q q 0 0 0 rg BT 539.06 583.82 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 573.82 Td (58.5 ) Tj ET Q q 0 0 0 rg BT 155.50 573.82 Td (to ) Tj ET Q q 0 0 0 rg BT 165.78 573.82 Td (59.5 ) Tj ET Q q 0 0 0 rg BT 185.78 573.82 Td (degrees ) Tj ET Q q 0 0 0 rg BT 218.82 573.82 Td (Fahrenheit ) Tj ET Q q 0 0 0 rg BT 264.08 573.82 Td (\(�F\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 554.82 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 66.39 553.39 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 554.82 Td (Carbon ) Tj ET Q q 0 0 0 rg BT 167.44 554.82 Td (dioxide.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 535.82 Td (EOR) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 535.82 Td (Enhanced ) Tj ET Q q 0 0 0 rg BT 178.19 535.82 Td (oil ) Tj ET Q q 0 0 0 rg BT 192.02 535.82 Td (recovery) Tj ET Q q 0 0 0 rg BT 226.67 535.82 Td (. ) Tj ET Q q 0 0 0 rg BT 232.11 535.82 Td ( ) Tj ET Q q 0 0 0 rg BT 235.38 535.82 Td (In ) Tj ET Q q 0 0 0 rg BT 246.98 535.82 Td (the ) Tj ET Q q 0 0 0 rg BT 262.47 535.82 Td (context ) Tj ET Q q 0 0 0 rg BT 295.17 535.82 Td (of ) Tj ET Q q 0 0 0 rg BT 306.77 535.82 Td (our ) Tj ET Q q 0 0 0 rg BT 323.37 535.82 Td (oil ) Tj ET Q q 0 0 0 rg BT 337.19 535.82 Td (and ) Tj ET Q q 0 0 0 rg BT 354.90 535.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 385.93 535.82 Td (gas ) Tj ET Q q 0 0 0 rg BT 402.53 535.82 Td (production, ) Tj ET Q q 0 0 0 rg BT 451.63 535.82 Td (EOR ) Tj ET Q q 0 0 0 rg BT 474.90 535.82 Td (is ) Tj ET Q q 0 0 0 rg BT 484.84 535.82 Td (also ) Tj ET Q q 0 0 0 rg BT 504.21 535.82 Td (referred ) Tj ET Q q 0 0 0 rg BT 539.12 535.82 Td (to ) Tj ET Q q 0 0 0 rg BT 550.17 535.82 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 525.82 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 166.87 525.82 Td (recovery) Tj ET Q q 0 0 0 rg BT 201.52 525.82 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 506.82 Td (Finding and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 496.82 Td (development costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 506.82 Td (The ) Tj ET Q q 0 0 0 rg BT 153.98 506.82 Td (average ) Tj ET Q q 0 0 0 rg BT 188.00 506.82 Td (cost ) Tj ET Q q 0 0 0 rg BT 207.05 506.82 Td (per ) Tj ET Q q 0 0 0 rg BT 222.76 506.82 Td (BOE ) Tj ET Q q 0 0 0 rg BT 245.69 506.82 Td (to ) Tj ET Q q 0 0 0 rg BT 256.41 506.82 Td (find ) Tj ET Q q 0 0 0 rg BT 275.45 506.82 Td (and ) Tj ET Q q 0 0 0 rg BT 292.83 506.82 Td (develop ) Tj ET Q q 0 0 0 rg BT 327.42 506.82 Td (proved ) Tj ET Q q 0 0 0 rg BT 358.13 506.82 Td (reserves ) Tj ET Q q 0 0 0 rg BT 393.82 506.82 Td (during ) Tj ET Q q 0 0 0 rg BT 422.87 506.82 Td (a ) Tj ET Q q 0 0 0 rg BT 430.24 506.82 Td (given ) Tj ET Q q 0 0 0 rg BT 455.40 506.82 Td (period. ) Tj ET Q q 0 0 0 rg BT 486.38 506.82 Td (It ) Tj ET Q q 0 0 0 rg BT 495.43 506.82 Td (is ) Tj ET Q q 0 0 0 rg BT 505.03 506.82 Td (calculated ) Tj ET Q q 0 0 0 rg BT 548.50 506.82 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 496.82 Td (dividing ) Tj ET Q q 0 0 0 rg BT 172.00 496.82 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 186.27 496.82 Td (costs, ) Tj ET Q q 0 0 0 rg BT 211.94 496.82 Td (which ) Tj ET Q q 0 0 0 rg BT 239.55 496.82 Td (include ) Tj ET Q q 0 0 0 rg BT 272.15 496.82 Td (the ) Tj ET Q q 0 0 0 rg BT 287.54 496.82 Td (sum ) Tj ET Q q 0 0 0 rg BT 307.38 496.82 Td (of ) Tj ET Q q 0 0 0 rg BT 318.87 496.82 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 331.48 496.82 Td (the ) Tj ET Q q 0 0 0 rg BT 346.87 496.82 Td (total ) Tj ET Q q 0 0 0 rg BT 367.81 496.82 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 417.36 496.82 Td (exploration ) Tj ET Q q 0 0 0 rg BT 466.07 496.82 Td (and ) Tj ET Q q 0 0 0 rg BT 483.68 496.82 Td (development ) Tj ET Q q 0 0 0 rg BT 538.50 496.82 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 486.82 Td (incurred ) Tj ET Q q 0 0 0 rg BT 172.37 486.82 Td (during ) Tj ET Q q 0 0 0 rg BT 202.04 486.82 Td (the ) Tj ET Q q 0 0 0 rg BT 217.81 486.82 Td (period ) Tj ET Q q 0 0 0 rg BT 246.92 486.82 Td (plus ) Tj ET Q q 0 0 0 rg BT 267.14 486.82 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 282.92 486.82 Td (future ) Tj ET Q q 0 0 0 rg BT 310.35 486.82 Td (development ) Tj ET Q q 0 0 0 rg BT 365.56 486.82 Td (and ) Tj ET Q q 0 0 0 rg BT 383.55 486.82 Td (abandonment ) Tj ET Q q 0 0 0 rg BT 440.98 486.82 Td (costs ) Tj ET Q q 0 0 0 rg BT 464.54 486.82 Td (related ) Tj ET Q q 0 0 0 rg BT 495.30 486.82 Td (to ) Tj ET Q q 0 0 0 rg BT 506.64 486.82 Td (the ) Tj ET Q q 0 0 0 rg BT 522.41 486.82 Td (specified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 476.82 Td (property ) Tj ET Q q 0 0 0 rg BT 171.90 476.82 Td (or ) Tj ET Q q 0 0 0 rg BT 182.75 476.82 Td (group ) Tj ET Q q 0 0 0 rg BT 208.60 476.82 Td (of ) Tj ET Q q 0 0 0 rg BT 219.45 476.82 Td (properties, ) Tj ET Q q 0 0 0 rg BT 264.45 476.82 Td (by ) Tj ET Q q 0 0 0 rg BT 276.97 476.82 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 291.15 476.82 Td (the ) Tj ET Q q 0 0 0 rg BT 305.89 476.82 Td (sum ) Tj ET Q q 0 0 0 rg BT 325.08 476.82 Td (of ) Tj ET Q q 0 0 0 rg BT 335.92 476.82 Td (\(i\)�the ) Tj ET Q q 0 0 0 rg BT 362.60 476.82 Td (change ) Tj ET Q q 0 0 0 rg BT 393.43 476.82 Td (in ) Tj ET Q q 0 0 0 rg BT 403.73 476.82 Td (total ) Tj ET Q q 0 0 0 rg BT 424.03 476.82 Td (proved ) Tj ET Q q 0 0 0 rg BT 454.31 476.82 Td (reserves ) Tj ET Q q 0 0 0 rg BT 489.59 476.82 Td (during ) Tj ET Q q 0 0 0 rg BT 518.22 476.82 Td (the ) Tj ET Q q 0 0 0 rg BT 532.96 476.82 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 466.82 Td (plus ) Tj ET Q q 0 0 0 rg BT 154.67 466.82 Td (\(ii\)�total ) Tj ET Q q 0 0 0 rg BT 189.66 466.82 Td (production ) Tj ET Q q 0 0 0 rg BT 235.49 466.82 Td (during ) Tj ET Q q 0 0 0 rg BT 264.09 466.82 Td (that ) Tj ET Q q 0 0 0 rg BT 281.59 466.82 Td (period.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 447.82 Td (GAAP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 447.82 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 184.66 447.82 Td (principles ) Tj ET Q q 0 0 0 rg BT 226.59 447.82 Td (generally ) Tj ET Q q 0 0 0 rg BT 266.29 447.82 Td (accepted ) Tj ET Q q 0 0 0 rg BT 303.76 447.82 Td (in ) Tj ET Q q 0 0 0 rg BT 314.04 447.82 Td (the ) Tj ET Q q 0 0 0 rg BT 328.76 447.82 Td (United ) Tj ET Q q 0 0 0 rg BT 358.47 447.82 Td (States ) Tj ET Q q 0 0 0 rg BT 384.86 447.82 Td (of ) Tj ET Q q 0 0 0 rg BT 395.41 447.82 Td (America.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 428.82 Td (MBbls) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 428.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 428.82 Td (thousand ) Tj ET Q q 0 0 0 rg BT 193.27 428.82 Td (barrels ) Tj ET Q q 0 0 0 rg BT 222.98 428.82 Td (of ) Tj ET Q q 0 0 0 rg BT 233.81 428.82 Td (crude ) Tj ET Q q 0 0 0 rg BT 258.51 428.82 Td (oil ) Tj ET Q q 0 0 0 rg BT 271.57 428.82 Td (or ) Tj ET Q q 0 0 0 rg BT 282.40 428.82 Td (other ) Tj ET Q q 0 0 0 rg BT 305.45 428.82 Td (liquid ) Tj ET Q q 0 0 0 rg BT 331.28 428.82 Td (hydrocarbons.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 409.82 Td (MBOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 409.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 409.82 Td (thousand ) Tj ET Q q 0 0 0 rg BT 193.27 409.82 Td (BOEs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 390.82 Td (Mcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 390.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.95 390.82 Td (thousand ) Tj ET Q q 0 0 0 rg BT 193.85 390.82 Td (cubic ) Tj ET Q q 0 0 0 rg BT 218.29 390.82 Td (feet ) Tj ET Q q 0 0 0 rg BT 236.07 390.82 Td (of ) Tj ET Q q 0 0 0 rg BT 247.19 390.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 277.74 390.82 Td (gas ) Tj ET Q q 0 0 0 rg BT 293.86 390.82 Td (or ) Tj ET Q q 0 0 0 rg BT 304.98 390.82 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 318.87 389.39 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.93 390.82 Td (at ) Tj ET Q q 0 0 0 rg BT 333.94 390.82 Td (a ) Tj ET Q q 0 0 0 rg BT 341.17 390.82 Td (temperature ) Tj ET Q q 0 0 0 rg BT 391.71 390.82 Td (base ) Tj ET Q q 0 0 0 rg BT 412.26 390.82 Td (of ) Tj ET Q q 0 0 0 rg BT 423.38 390.82 Td (60 ) Tj ET Q q 0 0 0 rg BT 436.17 390.82 Td (degrees ) Tj ET Q q 0 0 0 rg BT 469.50 390.82 Td (Fahrenheit ) Tj ET Q q 0 0 0 rg BT 515.05 390.82 Td (\(�F\) ) Tj ET Q q 0 0 0 rg BT 534.06 390.82 Td (and ) Tj ET Q q 0 0 0 rg BT 551.29 390.82 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 380.82 Td (the ) Tj ET Q q 0 0 0 rg BT 150.31 380.82 Td (legal ) Tj ET Q q 0 0 0 rg BT 172.33 380.82 Td (pressure ) Tj ET Q q 0 0 0 rg BT 208.25 380.82 Td (base ) Tj ET Q q 0 0 0 rg BT 228.61 380.82 Td (\(14.65 ) Tj ET Q q 0 0 0 rg BT 257.03 380.82 Td (to ) Tj ET Q q 0 0 0 rg BT 267.40 380.82 Td (15.025 ) Tj ET Q q 0 0 0 rg BT 297.49 380.82 Td (pounds ) Tj ET Q q 0 0 0 rg BT 328.97 380.82 Td (per ) Tj ET Q q 0 0 0 rg BT 344.33 380.82 Td (square ) Tj ET Q q 0 0 0 rg BT 373.02 380.82 Td (inch ) Tj ET Q q 0 0 0 rg BT 392.83 380.82 Td (absolute\) ) Tj ET Q q 0 0 0 rg BT 432.08 380.82 Td (of ) Tj ET Q q 0 0 0 rg BT 443.00 380.82 Td (the ) Tj ET Q q 0 0 0 rg BT 457.81 380.82 Td (state ) Tj ET Q q 0 0 0 rg BT 478.73 380.82 Td (or ) Tj ET Q q 0 0 0 rg BT 489.65 380.82 Td (area ) Tj ET Q q 0 0 0 rg BT 508.89 380.82 Td (in ) Tj ET Q q 0 0 0 rg BT 519.26 380.82 Td (which ) Tj ET Q q 0 0 0 rg BT 546.29 380.82 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 370.82 Td (reserves ) Tj ET Q q 0 0 0 rg BT 170.76 370.82 Td (are ) Tj ET Q q 0 0 0 rg BT 185.47 370.82 Td (located ) Tj ET Q q 0 0 0 rg BT 216.84 370.82 Td (or ) Tj ET Q q 0 0 0 rg BT 227.67 370.82 Td (sales ) Tj ET Q q 0 0 0 rg BT 249.61 370.82 Td (are ) Tj ET Q q 0 0 0 rg BT 264.31 370.82 Td (made.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 351.82 Td (Mcf/d) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 351.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 351.82 Td (thousand ) Tj ET Q q 0 0 0 rg BT 193.27 351.82 Td (cubic ) Tj ET Q q 0 0 0 rg BT 217.42 351.82 Td (feet ) Tj ET Q q 0 0 0 rg BT 234.91 351.82 Td (of ) Tj ET Q q 0 0 0 rg BT 245.74 351.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 276.00 351.82 Td (gas ) Tj ET Q q 0 0 0 rg BT 291.83 351.82 Td (or ) Tj ET Q q 0 0 0 rg BT 302.66 351.82 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 316.55 350.39 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.80 351.82 Td ( ) Tj ET Q q 0 0 0 rg BT 322.30 351.82 Td (per ) Tj ET Q q 0 0 0 rg BT 337.57 351.82 Td (day) Tj ET Q q 0 0 0 rg BT 351.36 351.82 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 332.82 Td (MMBbls) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 332.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 332.82 Td (million ) Tj ET Q q 0 0 0 rg BT 186.05 332.82 Td (barrels ) Tj ET Q q 0 0 0 rg BT 215.76 332.82 Td (of ) Tj ET Q q 0 0 0 rg BT 226.59 332.82 Td (crude ) Tj ET Q q 0 0 0 rg BT 251.30 332.82 Td (oil ) Tj ET Q q 0 0 0 rg BT 264.35 332.82 Td (or ) Tj ET Q q 0 0 0 rg BT 275.18 332.82 Td (other ) Tj ET Q q 0 0 0 rg BT 298.23 332.82 Td (liquid ) Tj ET Q q 0 0 0 rg BT 324.06 332.82 Td (hydrocarbons.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 313.82 Td (MMBOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 313.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 313.82 Td (million ) Tj ET Q q 0 0 0 rg BT 186.05 313.82 Td (BOEs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 294.82 Td (MMBtu) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 294.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 294.82 Td (million ) Tj ET Q q 0 0 0 rg BT 186.05 294.82 Td (Btus.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 275.82 Td (MMcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 275.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 275.82 Td (million ) Tj ET Q q 0 0 0 rg BT 186.05 275.82 Td (cubic ) Tj ET Q q 0 0 0 rg BT 210.21 275.82 Td (feet ) Tj ET Q q 0 0 0 rg BT 227.69 275.82 Td (of ) Tj ET Q q 0 0 0 rg BT 238.52 275.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 268.79 275.82 Td (gas ) Tj ET Q q 0 0 0 rg BT 284.62 275.82 Td (or ) Tj ET Q q 0 0 0 rg BT 295.45 275.82 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 309.34 274.39 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.59 275.82 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 256.82 Td (MMcf/d) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 256.82 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 256.82 Td (million ) Tj ET Q q 0 0 0 rg BT 186.05 256.82 Td (cubic ) Tj ET Q q 0 0 0 rg BT 210.21 256.82 Td (feet ) Tj ET Q q 0 0 0 rg BT 227.69 256.82 Td (of ) Tj ET Q q 0 0 0 rg BT 238.52 256.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 268.79 256.82 Td (gas ) Tj ET Q q 0 0 0 rg BT 284.62 256.82 Td (or ) Tj ET Q q 0 0 0 rg BT 295.45 256.82 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 309.34 255.39 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.59 256.82 Td ( ) Tj ET Q q 0 0 0 rg BT 315.09 256.82 Td (produced ) Tj ET Q q 0 0 0 rg BT 354.79 256.82 Td (per ) Tj ET Q q 0 0 0 rg BT 370.06 256.82 Td (day) Tj ET Q q 0 0 0 rg BT 383.85 256.82 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 237.82 Td (Noncash fair value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 227.82 Td (gains \(losses\) on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 217.82 Td (commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 207.82 Td (derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 237.82 Td (The ) Tj ET Q q 0 0 0 rg BT 153.31 237.82 Td (net ) Tj ET Q q 0 0 0 rg BT 167.78 237.82 Td (change ) Tj ET Q q 0 0 0 rg BT 198.36 237.82 Td (during ) Tj ET Q q 0 0 0 rg BT 226.73 237.82 Td (the ) Tj ET Q q 0 0 0 rg BT 241.20 237.82 Td (period ) Tj ET Q q 0 0 0 rg BT 269.01 237.82 Td (in ) Tj ET Q q 0 0 0 rg BT 279.05 237.82 Td (the ) Tj ET Q q 0 0 0 rg BT 293.52 237.82 Td (fair ) Tj ET Q q 0 0 0 rg BT 309.66 237.82 Td (market ) Tj ET Q q 0 0 0 rg BT 339.68 237.82 Td (value ) Tj ET Q q 0 0 0 rg BT 363.60 237.82 Td (of ) Tj ET Q q 0 0 0 rg BT 374.19 237.82 Td (commodity ) Tj ET Q q 0 0 0 rg BT 422.00 237.82 Td (derivative ) Tj ET Q q 0 0 0 rg BT 464.24 237.82 Td (positions. ) Tj ET Q q 0 0 0 rg BT 505.12 237.82 Td ( ) Tj ET Q q 0 0 0 rg BT 507.38 237.82 Td (Noncash ) Tj ET Q q 0 0 0 rg BT 544.63 237.82 Td (fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 227.82 Td (value ) Tj ET Q q 0 0 0 rg BT 160.36 227.82 Td (gains ) Tj ET Q q 0 0 0 rg BT 184.67 227.82 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 218.42 227.82 Td (on ) Tj ET Q q 0 0 0 rg BT 231.62 227.82 Td (commodity ) Tj ET Q q 0 0 0 rg BT 280.38 227.82 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 327.45 227.82 Td (is ) Tj ET Q q 0 0 0 rg BT 337.32 227.82 Td (a ) Tj ET Q q 0 0 0 rg BT 344.96 227.82 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 390.15 227.82 Td ( ) Tj ET Q q 0 0 0 rg BT 393.35 227.82 Td (measure ) Tj ET Q q 0 0 0 rg BT 429.87 227.82 Td (and ) Tj ET Q q 0 0 0 rg BT 447.51 227.82 Td (makes ) Tj ET Q q 0 0 0 rg BT 476.26 227.82 Td (up ) Tj ET Q q 0 0 0 rg BT 489.46 227.82 Td (only ) Tj ET Q q 0 0 0 rg BT 510.44 227.82 Td (a ) Tj ET Q q 0 0 0 rg BT 518.08 227.82 Td (portion ) Tj ET Q q 0 0 0 rg BT 550.17 227.82 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 217.82 Td (�Commodity ) Tj ET Q q 0 0 0 rg BT 191.56 217.82 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 239.28 217.82 Td (expense ) Tj ET Q q 0 0 0 rg BT 275.33 217.82 Td (\(income\)� ) Tj ET Q q 0 0 0 rg BT 319.70 217.82 Td (in ) Tj ET Q q 0 0 0 rg BT 331.32 217.82 Td (the ) Tj ET Q q 0 0 0 rg BT 347.38 217.82 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 404.00 217.82 Td (Statements ) Tj ET Q q 0 0 0 rg BT 451.72 217.82 Td (of ) Tj ET Q q 0 0 0 rg BT 463.89 217.82 Td (Operations, ) Tj ET Q q 0 0 0 rg BT 514.11 217.82 Td (which ) Tj ET Q q 0 0 0 rg BT 542.39 217.82 Td (also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 207.82 Td (includes ) Tj ET Q q 0 0 0 rg BT 171.05 207.82 Td (the ) Tj ET Q q 0 0 0 rg BT 185.49 207.82 Td (impact ) Tj ET Q q 0 0 0 rg BT 214.93 207.82 Td (of ) Tj ET Q q 0 0 0 rg BT 225.49 207.82 Td (settlements ) Tj ET Q q 0 0 0 rg BT 272.70 207.82 Td (on ) Tj ET Q q 0 0 0 rg BT 284.93 207.82 Td (commodity ) Tj ET Q q 0 0 0 rg BT 332.71 207.82 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 378.80 207.82 Td (during ) Tj ET Q q 0 0 0 rg BT 407.14 207.82 Td (the ) Tj ET Q q 0 0 0 rg BT 421.58 207.82 Td (period. ) Tj ET Q q 0 0 0 rg BT 451.85 207.82 Td ( ) Tj ET Q q 0 0 0 rg BT 454.08 207.82 Td (Its ) Tj ET Q q 0 0 0 rg BT 466.30 207.82 Td (use ) Tj ET Q q 0 0 0 rg BT 481.86 207.82 Td (is ) Tj ET Q q 0 0 0 rg BT 490.75 207.82 Td (further ) Tj ET Q q 0 0 0 rg BT 520.19 207.82 Td (discussed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 197.82 Td (in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 146.10 197.82 Td (Management�) Tj ET Q q 0 0 0 rg BT 200.35 197.82 Td (s ) Tj ET Q q 0 0 0 rg BT 207.06 197.82 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 253.78 197.82 Td (and ) Tj ET Q q 0 0 0 rg BT 271.39 197.82 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 308.10 197.82 Td (of ) Tj ET Q q 0 0 0 rg BT 318.70 197.82 Td (Financial ) Tj ET Q q 0 0 0 rg BT 360.41 197.82 Td (Condition ) Tj ET Q q 0 0 0 rg BT 403.24 197.82 Td (and ) Tj ET Q q 0 0 0 rg BT 421.06 197.82 Td (Results ) Tj ET Q q 0 0 0 rg BT 452.77 197.82 Td (of ) Tj ET Q q 0 0 0 rg BT 463.37 197.82 Td (Operations ) Tj ET Q q 0 0 0 rg BT 511.19 197.82 Td (� ) Tj ET Q q 0 0 0 rg BT 519.01 197.82 Td (Results ) Tj ET Q q 0 0 0 rg BT 550.72 197.82 Td (of ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 135.50 187.81 Td (Operations ) Tj ET Q q 0 0 0 rg BT 183.00 187.81 Td (� ) Tj ET Q q 0 0 0 rg BT 190.50 187.81 Td (Operating ) Tj ET Q q 0 0 0 rg BT 234.11 187.81 Td (Results ) Tj ET Q q 0 0 0 rg BT 265.50 187.81 Td (T) Tj ET Q q 0 0 0 rg BT 270.14 187.81 Td (able) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.36 187.81 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 168.82 Td (NYMEX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 168.82 Td (The ) Tj ET Q q 0 0 0 rg BT 154.56 168.82 Td (New ) Tj ET Q q 0 0 0 rg BT 176.61 168.82 Td (Y) Tj ET Q q 0 0 0 rg BT 183.15 168.82 Td (ork ) Tj ET Q q 0 0 0 rg BT 199.49 168.82 Td (Mercantile ) Tj ET Q q 0 0 0 rg BT 246.31 168.82 Td (Exchange. ) Tj ET Q q 0 0 0 rg BT 291.74 168.82 Td ( ) Tj ET Q q 0 0 0 rg BT 295.25 168.82 Td (In ) Tj ET Q q 0 0 0 rg BT 307.09 168.82 Td (the ) Tj ET Q q 0 0 0 rg BT 322.82 168.82 Td (context ) Tj ET Q q 0 0 0 rg BT 355.76 168.82 Td (of ) Tj ET Q q 0 0 0 rg BT 367.60 168.82 Td (our ) Tj ET Q q 0 0 0 rg BT 384.44 168.82 Td (oil ) Tj ET Q q 0 0 0 rg BT 398.51 168.82 Td (and ) Tj ET Q q 0 0 0 rg BT 416.46 168.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 447.73 168.82 Td (gas ) Tj ET Q q 0 0 0 rg BT 464.57 168.82 Td (sales, ) Tj ET Q q 0 0 0 rg BT 490.02 168.82 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 530.19 168.82 Td (pricing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 158.82 Td (represents ) Tj ET Q q 0 0 0 rg BT 178.41 158.82 Td (the ) Tj ET Q q 0 0 0 rg BT 192.92 158.82 Td (W) Tj ET Q q 0 0 0 rg BT 201.87 158.82 Td (est ) Tj ET Q q 0 0 0 rg BT 214.87 158.82 Td (T) Tj ET Q q 0 0 0 rg BT 220.54 158.82 Td (exas ) Tj ET Q q 0 0 0 rg BT 240.33 158.82 Td (Intermediate ) Tj ET Q q 0 0 0 rg BT 293.23 158.82 Td (benchmark ) Tj ET Q q 0 0 0 rg BT 340.03 158.82 Td (price ) Tj ET Q q 0 0 0 rg BT 362.38 158.82 Td (for ) Tj ET Q q 0 0 0 rg BT 376.42 158.82 Td (crude ) Tj ET Q q 0 0 0 rg BT 401.00 158.82 Td (oil ) Tj ET Q q 0 0 0 rg BT 413.93 158.82 Td (and ) Tj ET Q q 0 0 0 rg BT 430.74 158.82 Td (Henry ) Tj ET Q q 0 0 0 rg BT 458.10 158.82 Td (Hub ) Tj ET Q q 0 0 0 rg BT 477.70 158.82 Td (benchmark ) Tj ET Q q 0 0 0 rg BT 524.49 158.82 Td (price ) Tj ET Q q 0 0 0 rg BT 546.85 158.82 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 148.82 Td (natural ) Tj ET Q q 0 0 0 rg BT 165.76 148.82 Td (gas.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 129.82 Td (Probable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 119.82 Td (Reserves*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 129.82 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 173.46 129.82 Td (that ) Tj ET Q q 0 0 0 rg BT 190.32 129.82 Td (are ) Tj ET Q q 0 0 0 rg BT 204.40 129.82 Td (less ) Tj ET Q q 0 0 0 rg BT 221.26 129.82 Td (certain ) Tj ET Q q 0 0 0 rg BT 250.33 129.82 Td (to ) Tj ET Q q 0 0 0 rg BT 259.97 129.82 Td (be ) Tj ET Q q 0 0 0 rg BT 271.28 129.82 Td (recovered ) Tj ET Q q 0 0 0 rg BT 312.56 129.82 Td (than ) Tj ET Q q 0 0 0 rg BT 331.64 129.82 Td (proved ) Tj ET Q q 0 0 0 rg BT 361.27 129.82 Td (reserves ) Tj ET Q q 0 0 0 rg BT 395.90 129.82 Td (but ) Tj ET Q q 0 0 0 rg BT 410.54 129.82 Td (which, ) Tj ET Q q 0 0 0 rg BT 439.34 129.82 Td (together ) Tj ET Q q 0 0 0 rg BT 473.97 129.82 Td (with ) Tj ET Q q 0 0 0 rg BT 493.62 129.82 Td (proved ) Tj ET Q q 0 0 0 rg BT 523.25 129.82 Td (reserves, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 119.82 Td (are ) Tj ET Q q 0 0 0 rg BT 150.21 119.82 Td (as ) Tj ET Q q 0 0 0 rg BT 161.04 119.82 Td (likely ) Tj ET Q q 0 0 0 rg BT 186.31 119.82 Td (as ) Tj ET Q q 0 0 0 rg BT 197.14 119.82 Td (not ) Tj ET Q q 0 0 0 rg BT 212.42 119.82 Td (to ) Tj ET Q q 0 0 0 rg BT 222.70 119.82 Td (be ) Tj ET Q q 0 0 0 rg BT 234.64 119.82 Td (recovered.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 100.82 Td (Proved Developed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 90.82 Td (Reserves*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 100.82 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 173.51 100.82 Td (that ) Tj ET Q q 0 0 0 rg BT 190.42 100.82 Td (can ) Tj ET Q q 0 0 0 rg BT 206.21 100.82 Td (be ) Tj ET Q q 0 0 0 rg BT 217.56 100.82 Td (expected ) Tj ET Q q 0 0 0 rg BT 255.01 100.82 Td (to ) Tj ET Q q 0 0 0 rg BT 264.70 100.82 Td (be ) Tj ET Q q 0 0 0 rg BT 276.05 100.82 Td (recovered ) Tj ET Q q 0 0 0 rg BT 317.38 100.82 Td (through ) Tj ET Q q 0 0 0 rg BT 350.40 100.82 Td (existing ) Tj ET Q q 0 0 0 rg BT 383.98 100.82 Td (wells ) Tj ET Q q 0 0 0 rg BT 407.00 100.82 Td (with ) Tj ET Q q 0 0 0 rg BT 426.69 100.82 Td (existing ) Tj ET Q q 0 0 0 rg BT 460.27 100.82 Td (equipment ) Tj ET Q q 0 0 0 rg BT 504.39 100.82 Td (and ) Tj ET Q q 0 0 0 rg BT 520.74 100.82 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 90.82 Td (methods.) Tj ET Q endstream endobj 9 0 obj <> endobj 10 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 30.60 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 722.57 Td (Proved Reserves*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 722.57 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 174.36 722.57 Td (that ) Tj ET Q q 0 0 0 rg BT 192.13 722.57 Td (geological ) Tj ET Q q 0 0 0 rg BT 236.54 722.57 Td (and ) Tj ET Q q 0 0 0 rg BT 253.75 722.57 Td (engineering ) Tj ET Q q 0 0 0 rg BT 303.72 722.57 Td (data ) Tj ET Q q 0 0 0 rg BT 323.14 722.57 Td (demonstrate ) Tj ET Q q 0 0 0 rg BT 374.77 722.57 Td (with ) Tj ET Q q 0 0 0 rg BT 395.32 722.57 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 440.84 722.57 Td (certainty ) Tj ET Q q 0 0 0 rg BT 478.59 722.57 Td (to ) Tj ET Q q 0 0 0 rg BT 489.13 722.57 Td (be ) Tj ET Q q 0 0 0 rg BT 501.33 722.57 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 550.73 722.57 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 712.57 Td (future ) Tj ET Q q 0 0 0 rg BT 161.88 712.57 Td (years ) Tj ET Q q 0 0 0 rg BT 185.48 712.57 Td (from ) Tj ET Q q 0 0 0 rg BT 207.41 712.57 Td (known ) Tj ET Q q 0 0 0 rg BT 237.14 712.57 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 279.06 712.57 Td (under ) Tj ET Q q 0 0 0 rg BT 304.33 712.57 Td (existing ) Tj ET Q q 0 0 0 rg BT 338.50 712.57 Td (economic ) Tj ET Q q 0 0 0 rg BT 379.87 712.57 Td (and ) Tj ET Q q 0 0 0 rg BT 396.81 712.57 Td (operating ) Tj ET Q q 0 0 0 rg BT 437.07 712.57 Td (conditions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 693.57 Td (Proved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 683.57 Td (Undeveloped) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 673.57 Td (Reserves*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 693.57 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 174.12 693.57 Td (that ) Tj ET Q q 0 0 0 rg BT 191.64 693.57 Td (are ) Tj ET Q q 0 0 0 rg BT 206.37 693.57 Td (expected ) Tj ET Q q 0 0 0 rg BT 244.43 693.57 Td (to ) Tj ET Q q 0 0 0 rg BT 254.73 693.57 Td (be ) Tj ET Q q 0 0 0 rg BT 266.69 693.57 Td (recovered ) Tj ET Q q 0 0 0 rg BT 308.63 693.57 Td (from ) Tj ET Q q 0 0 0 rg BT 330.59 693.57 Td (new ) Tj ET Q q 0 0 0 rg BT 349.77 693.57 Td (wells ) Tj ET Q q 0 0 0 rg BT 373.41 693.57 Td (on ) Tj ET Q q 0 0 0 rg BT 385.93 693.57 Td (undrilled ) Tj ET Q q 0 0 0 rg BT 424.56 693.57 Td (acreage ) Tj ET Q q 0 0 0 rg BT 457.60 693.57 Td (or ) Tj ET Q q 0 0 0 rg BT 468.46 693.57 Td (from ) Tj ET Q q 0 0 0 rg BT 490.42 693.57 Td (existing ) Tj ET Q q 0 0 0 rg BT 524.61 693.57 Td (wells, ) Tj ET Q q 0 0 0 rg BT 550.74 693.57 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 683.57 Td (each ) Tj ET Q q 0 0 0 rg BT 156.32 683.57 Td (case ) Tj ET Q q 0 0 0 rg BT 176.02 683.57 Td (where ) Tj ET Q q 0 0 0 rg BT 202.95 683.57 Td (a ) Tj ET Q q 0 0 0 rg BT 209.89 683.57 Td (relatively ) Tj ET Q q 0 0 0 rg BT 250.15 683.57 Td (major ) Tj ET Q q 0 0 0 rg BT 275.97 683.57 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 325.68 683.57 Td (is ) Tj ET Q q 0 0 0 rg BT 334.85 683.57 Td (required.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 654.57 Td (PV) Tj ET Q q 0 0 0 rg BT 64.82 654.57 Td (-10 ) Tj ET Q q 0 0 0 rg BT 80.10 654.57 Td (V) Tj ET Q q 0 0 0 rg BT 86.68 654.57 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 654.57 Td (The ) Tj ET Q q 0 0 0 rg BT 153.00 654.57 Td (estimated ) Tj ET Q q 0 0 0 rg BT 193.27 654.57 Td (future ) Tj ET Q q 0 0 0 rg BT 219.10 654.57 Td (gross ) Tj ET Q q 0 0 0 rg BT 242.16 654.57 Td (revenue ) Tj ET Q q 0 0 0 rg BT 275.76 654.57 Td (to ) Tj ET Q q 0 0 0 rg BT 285.49 654.57 Td (be ) Tj ET Q q 0 0 0 rg BT 296.87 654.57 Td (generated ) Tj ET Q q 0 0 0 rg BT 337.69 654.57 Td (from ) Tj ET Q q 0 0 0 rg BT 359.08 654.57 Td (the ) Tj ET Q q 0 0 0 rg BT 373.24 654.57 Td (production ) Tj ET Q q 0 0 0 rg BT 418.52 654.57 Td (of ) Tj ET Q q 0 0 0 rg BT 428.80 654.57 Td (proved ) Tj ET Q q 0 0 0 rg BT 458.52 654.57 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 495.73 654.57 Td (net ) Tj ET Q q 0 0 0 rg BT 509.90 654.57 Td (of ) Tj ET Q q 0 0 0 rg BT 520.18 654.57 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 644.57 Td (future ) Tj ET Q q 0 0 0 rg BT 161.99 644.57 Td (production, ) Tj ET Q q 0 0 0 rg BT 210.43 644.57 Td (development ) Tj ET Q q 0 0 0 rg BT 264.69 644.57 Td (and ) Tj ET Q q 0 0 0 rg BT 281.74 644.57 Td (abandonment ) Tj ET Q q 0 0 0 rg BT 338.22 644.57 Td (costs, ) Tj ET Q q 0 0 0 rg BT 363.34 644.57 Td (and ) Tj ET Q q 0 0 0 rg BT 380.39 644.57 Td (before ) Tj ET Q q 0 0 0 rg BT 408.54 644.57 Td (income ) Tj ET Q q 0 0 0 rg BT 440.58 644.57 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 466.24 644.57 Td (discounted ) Tj ET Q q 0 0 0 rg BT 512.18 644.57 Td (to ) Tj ET Q q 0 0 0 rg BT 522.57 644.57 Td (a ) Tj ET Q q 0 0 0 rg BT 529.62 644.57 Td (present ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 634.57 Td (value ) Tj ET Q q 0 0 0 rg BT 159.17 634.57 Td (using ) Tj ET Q q 0 0 0 rg BT 182.86 634.57 Td (an ) Tj ET Q q 0 0 0 rg BT 194.31 634.57 Td (annual ) Tj ET Q q 0 0 0 rg BT 222.99 634.57 Td (discount ) Tj ET Q q 0 0 0 rg BT 258.89 634.57 Td (rate ) Tj ET Q q 0 0 0 rg BT 275.89 634.57 Td (of ) Tj ET Q q 0 0 0 rg BT 286.24 634.57 Td (10%. ) Tj ET Q q 0 0 0 rg BT 309.08 634.57 Td ( ) Tj ET Q q 0 0 0 rg BT 311.10 634.57 Td (PV) Tj ET Q q 0 0 0 rg BT 322.97 634.57 Td (-10 ) Tj ET Q q 0 0 0 rg BT 338.17 634.57 Td (V) Tj ET Q q 0 0 0 rg BT 344.28 634.57 Td (alues ) Tj ET Q q 0 0 0 rg BT 366.84 634.57 Td (were ) Tj ET Q q 0 0 0 rg BT 388.29 634.57 Td (prepared ) Tj ET Q q 0 0 0 rg BT 425.28 634.57 Td (using ) Tj ET Q q 0 0 0 rg BT 448.97 634.57 Td (average ) Tj ET Q q 0 0 0 rg BT 482.07 634.57 Td (hydrocarbon ) Tj ET Q q 0 0 0 rg BT 534.62 634.57 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 624.57 Td (equal ) Tj ET Q q 0 0 0 rg BT 159.37 624.57 Td (to ) Tj ET Q q 0 0 0 rg BT 169.36 624.57 Td (the ) Tj ET Q q 0 0 0 rg BT 183.79 624.57 Td (unweighted ) Tj ET Q q 0 0 0 rg BT 232.65 624.57 Td (arithmetic ) Tj ET Q q 0 0 0 rg BT 275.40 624.57 Td (average ) Tj ET Q q 0 0 0 rg BT 308.70 624.57 Td (of ) Tj ET Q q 0 0 0 rg BT 319.24 624.57 Td (hydrocarbon ) Tj ET Q q 0 0 0 rg BT 371.99 624.57 Td (prices ) Tj ET Q q 0 0 0 rg BT 398.08 624.57 Td (on ) Tj ET Q q 0 0 0 rg BT 410.29 624.57 Td (the ) Tj ET Q q 0 0 0 rg BT 424.72 624.57 Td (first ) Tj ET Q q 0 0 0 rg BT 443.04 624.57 Td (day ) Tj ET Q q 0 0 0 rg BT 459.69 624.57 Td (of ) Tj ET Q q 0 0 0 rg BT 470.23 624.57 Td (each ) Tj ET Q q 0 0 0 rg BT 490.76 624.57 Td (month ) Tj ET Q q 0 0 0 rg BT 518.53 624.57 Td (within ) Tj ET Q q 0 0 0 rg BT 546.30 624.57 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 614.57 Td (12-month ) Tj ET Q q 0 0 0 rg BT 176.80 614.57 Td (period ) Tj ET Q q 0 0 0 rg BT 204.75 614.57 Td (preceding ) Tj ET Q q 0 0 0 rg BT 246.59 614.57 Td (the ) Tj ET Q q 0 0 0 rg BT 261.21 614.57 Td (reporting ) Tj ET Q q 0 0 0 rg BT 300.28 614.57 Td (date.��PV) Tj ET Q q 0 0 0 rg BT 336.30 614.57 Td (-10 ) Tj ET Q q 0 0 0 rg BT 351.86 614.57 Td (V) Tj ET Q q 0 0 0 rg BT 357.98 614.57 Td (alue ) Tj ET Q q 0 0 0 rg BT 377.04 614.57 Td (is ) Tj ET Q q 0 0 0 rg BT 386.12 614.57 Td (a ) Tj ET Q q 0 0 0 rg BT 392.97 614.57 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 438.16 614.57 Td ( ) Tj ET Q q 0 0 0 rg BT 440.56 614.57 Td (measure ) Tj ET Q q 0 0 0 rg BT 476.29 614.57 Td (and ) Tj ET Q q 0 0 0 rg BT 493.14 614.57 Td (does ) Tj ET Q q 0 0 0 rg BT 513.88 614.57 Td (not ) Tj ET Q q 0 0 0 rg BT 529.07 614.57 Td (purport ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 604.57 Td (to ) Tj ET Q q 0 0 0 rg BT 145.48 604.57 Td (represent ) Tj ET Q q 0 0 0 rg BT 184.32 604.57 Td (the ) Tj ET Q q 0 0 0 rg BT 198.74 604.57 Td (fair ) Tj ET Q q 0 0 0 rg BT 214.81 604.57 Td (value ) Tj ET Q q 0 0 0 rg BT 238.67 604.57 Td (of ) Tj ET Q q 0 0 0 rg BT 249.20 604.57 Td (our ) Tj ET Q q 0 0 0 rg BT 264.72 604.57 Td (oil ) Tj ET Q q 0 0 0 rg BT 277.48 604.57 Td (and ) Tj ET Q q 0 0 0 rg BT 294.12 604.57 Td (natural ) Tj ET Q q 0 0 0 rg BT 324.08 604.57 Td (gas ) Tj ET Q q 0 0 0 rg BT 339.61 604.57 Td (reserves; ) Tj ET Q q 0 0 0 rg BT 377.34 604.57 Td (its ) Tj ET Q q 0 0 0 rg BT 388.99 604.57 Td (use ) Tj ET Q q 0 0 0 rg BT 404.52 604.57 Td (is ) Tj ET Q q 0 0 0 rg BT 413.39 604.57 Td (further ) Tj ET Q q 0 0 0 rg BT 442.79 604.57 Td (discussed ) Tj ET Q q 0 0 0 rg BT 483.32 604.57 Td (in ) Tj ET Q q 0 0 0 rg BT 493.30 604.57 Td (Item ) Tj ET Q q 0 0 0 rg BT 513.82 604.57 Td (1, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 523.52 604.57 Td (Business ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 135.50 594.56 Td (and ) Tj ET Q q 0 0 0 rg BT 153.00 594.56 Td (Pr) Tj ET Q q 0 0 0 rg BT 162.63 594.56 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.85 594.56 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 197.35 594.56 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.35 594.56 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 204.85 594.56 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 250.21 594.56 Td ( ) Tj ET Q q 0 0 0 rg BT 252.71 594.56 Td (Financial ) Tj ET Q q 0 0 0 rg BT 294.09 594.56 Td (Measur) Tj ET Q q 0 0 0 rg BT 324.27 594.56 Td (es ) Tj ET Q q 0 0 0 rg BT 335.10 594.56 Td (and ) Tj ET Q q 0 0 0 rg BT 352.60 594.56 Td (Reconciliations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.81 594.56 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 555.57 Td (T) Tj ET Q q 0 0 0 rg BT 58.26 555.57 Td (cf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 555.57 Td (One ) Tj ET Q q 0 0 0 rg BT 154.66 555.57 Td (trillion ) Tj ET Q q 0 0 0 rg BT 184.38 555.57 Td (cubic ) Tj ET Q q 0 0 0 rg BT 208.54 555.57 Td (feet ) Tj ET Q q 0 0 0 rg BT 226.02 555.57 Td (of ) Tj ET Q q 0 0 0 rg BT 236.85 555.57 Td (natural ) Tj ET Q q 0 0 0 rg BT 267.12 555.57 Td (gas ) Tj ET Q q 0 0 0 rg BT 282.95 555.57 Td (or ) Tj ET Q q 0 0 0 rg BT 293.78 555.57 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 307.67 554.14 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.92 555.57 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 536.57 Td (T) Tj ET Q q 0 0 0 rg BT 57.91 536.57 Td (ertiary Recovery) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 536.57 Td (A) Tj ET Q q 0 0 0 rg BT 142.17 536.57 Td ( ) Tj ET Q q 0 0 0 rg BT 144.80 536.57 Td (term ) Tj ET Q q 0 0 0 rg BT 165.76 536.57 Td (used ) Tj ET Q q 0 0 0 rg BT 186.73 536.57 Td (to ) Tj ET Q q 0 0 0 rg BT 197.14 536.57 Td (represent ) Tj ET Q q 0 0 0 rg BT 236.42 536.57 Td (techniques ) Tj ET Q q 0 0 0 rg BT 281.82 536.57 Td (for ) Tj ET Q q 0 0 0 rg BT 296.11 536.57 Td (extracting ) Tj ET Q q 0 0 0 rg BT 338.73 536.57 Td (incremental ) Tj ET Q q 0 0 0 rg BT 388.56 536.57 Td (oil ) Tj ET Q q 0 0 0 rg BT 401.75 536.57 Td (out ) Tj ET Q q 0 0 0 rg BT 417.16 536.57 Td (of ) Tj ET Q q 0 0 0 rg BT 428.13 536.57 Td (existing ) Tj ET Q q 0 0 0 rg BT 462.43 536.57 Td (oil ) Tj ET Q q 0 0 0 rg BT 475.62 536.57 Td (fields ) Tj ET Q q 0 0 0 rg BT 500.47 536.57 Td (\(as ) Tj ET Q q 0 0 0 rg BT 514.76 536.57 Td (opposed ) Tj ET Q q 0 0 0 rg BT 550.73 536.57 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 526.57 Td (primary ) Tj ET Q q 0 0 0 rg BT 170.81 526.57 Td (and ) Tj ET Q q 0 0 0 rg BT 188.90 526.57 Td (secondary ) Tj ET Q q 0 0 0 rg BT 233.09 526.57 Td (recovery ) Tj ET Q q 0 0 0 rg BT 271.72 526.57 Td (or ) Tj ET Q q 0 0 0 rg BT 283.71 526.57 Td (�non-tertiary� ) Tj ET Q q 0 0 0 rg BT 343.44 526.57 Td (recovery\). ) Tj ET Q q 0 0 0 rg BT 387.90 526.57 Td ( ) Tj ET Q q 0 0 0 rg BT 391.55 526.57 Td (In ) Tj ET Q q 0 0 0 rg BT 403.54 526.57 Td (the ) Tj ET Q q 0 0 0 rg BT 419.41 526.57 Td (context ) Tj ET Q q 0 0 0 rg BT 452.49 526.57 Td (of ) Tj ET Q q 0 0 0 rg BT 464.48 526.57 Td (our ) Tj ET Q q 0 0 0 rg BT 481.46 526.57 Td (oil ) Tj ET Q q 0 0 0 rg BT 495.67 526.57 Td (and ) Tj ET Q q 0 0 0 rg BT 513.76 526.57 Td (natural ) Tj ET Q q 0 0 0 rg BT 545.18 526.57 Td (gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.50 516.57 Td (production, ) Tj ET Q q 0 0 0 rg BT 183.83 516.57 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 215.20 516.57 Td (recovery ) Tj ET Q q 0 0 0 rg BT 252.67 516.57 Td (is ) Tj ET Q q 0 0 0 rg BT 261.84 516.57 Td (also ) Tj ET Q q 0 0 0 rg BT 280.45 516.57 Td (referred ) Tj ET Q q 0 0 0 rg BT 314.59 516.57 Td (to ) Tj ET Q q 0 0 0 rg BT 324.87 516.57 Td (as ) Tj ET Q q 0 0 0 rg BT 335.70 516.57 Td (EOR.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 483.50 Td (* ) Tj ET Q q 0 0 0 rg BT 56.82 483.50 Td (This definition is an abbreviated version of the complete definition set forth in Rule�4-10\(a\) of Regulation S-X. For the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 471.50 Td (complete definition see: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 459.50 Td (http://www) Tj ET Q q 0 0 0 rg BT 94.41 459.50 Td (.ecfr) Tj ET Q q 0 0 0 rg BT 111.89 459.50 Td (.gov/cgi-bin/text-idx?) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 447.50 Td (SID=2d916841db86d079fa060fa63b08d34e&mc=true&node=se17.3.210_14_610&r) Tj ET Q q 0 0 0 rg BT 389.52 447.50 Td (gn=div8.) Tj ET Q endstream endobj 11 0 obj <> endobj 12 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 30.60 Td (5) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 289.80 726.75 Td (P) Tj ET Q q 0 0 0 rg BT 295.17 726.75 Td (AR) Tj ET Q q 0 0 0 rg BT 309.26 726.75 Td (T) Tj ET Q q 0 0 0 rg BT 315.75 726.75 Td ( I) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 701.18505859375 m 184.041015625 701.18505859375 l s q 0 0 0 rg BT 49.50 702.75 Td (Item 1. Business and Pr) Tj ET Q q 0 0 0 rg BT 150.16 702.75 Td (operties) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 678.75 Td (GENERAL) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 654.75 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 105.77 654.75 Td (Resources ) Tj ET Q q 0 0 0 rg BT 150.14 654.75 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 171.19 654.75 Td (a ) Tj ET Q q 0 0 0 rg BT 178.90 654.75 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 220.48 654.75 Td (corporation, ) Tj ET Q q 0 0 0 rg BT 272.35 654.75 Td (is ) Tj ET Q q 0 0 0 rg BT 282.30 654.75 Td (an ) Tj ET Q q 0 0 0 rg BT 295.01 654.75 Td (independent ) Tj ET Q q 0 0 0 rg BT 347.16 654.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 361.00 654.75 Td (and ) Tj ET Q q 0 0 0 rg BT 378.71 654.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 409.75 654.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 426.36 654.75 Td (company ) Tj ET Q q 0 0 0 rg BT 466.29 654.75 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.34 654.75 Td (262.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.84 654.75 Td ( ) Tj ET Q q 0 0 0 rg BT 513.12 654.75 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 554.18 654.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.75 Td (estimated ) Tj ET Q q 0 0 0 rg BT 90.51 642.75 Td (proved ) Tj ET Q q 0 0 0 rg BT 120.96 642.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 134.20 642.75 Td (and ) Tj ET Q q 0 0 0 rg BT 151.33 642.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 181.78 642.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 197.79 642.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 233.24 642.75 Td (as ) Tj ET Q q 0 0 0 rg BT 244.25 642.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.27 642.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 314.04 642.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.04 642.75 Td (, ) Tj ET Q q 0 0 0 rg BT 339.22 642.75 Td (of ) Tj ET Q q 0 0 0 rg BT 350.24 642.75 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.36 642.75 Td (97%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.69 642.75 Td ( ) Tj ET Q q 0 0 0 rg BT 398.38 642.75 Td (is ) Tj ET Q q 0 0 0 rg BT 407.73 642.75 Td (oil.��Our ) Tj ET Q q 0 0 0 rg BT 444.03 642.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 488.37 642.75 Td (are ) Tj ET Q q 0 0 0 rg BT 503.26 642.75 Td (focused ) Tj ET Q q 0 0 0 rg BT 537.04 642.75 Td (in ) Tj ET Q q 0 0 0 rg BT 547.51 642.75 Td (two ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.75 Td (key ) Tj ET Q q 0 0 0 rg BT 66.78 630.75 Td (operating ) Tj ET Q q 0 0 0 rg BT 107.38 630.75 Td (areas: ) Tj ET Q q 0 0 0 rg BT 133.53 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 148.59 630.75 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 169.76 630.75 Td (Coast ) Tj ET Q q 0 0 0 rg BT 195.37 630.75 Td (and ) Tj ET Q q 0 0 0 rg BT 212.65 630.75 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 241.60 630.75 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 283.32 630.75 Td (regions.��Our ) Tj ET Q q 0 0 0 rg BT 338.65 630.75 Td (goal ) Tj ET Q q 0 0 0 rg BT 358.71 630.75 Td (is ) Tj ET Q q 0 0 0 rg BT 368.21 630.75 Td (to ) Tj ET Q q 0 0 0 rg BT 378.83 630.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 414.42 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 429.48 630.75 Td (value ) Tj ET Q q 0 0 0 rg BT 453.97 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 465.14 630.75 Td (our ) Tj ET Q q 0 0 0 rg BT 481.31 630.75 Td (properties ) Tj ET Q q 0 0 0 rg BT 524.13 630.75 Td (through ) Tj ET Q q 0 0 0 rg BT 558.08 630.75 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.75 Td (combination ) Tj ET Q q 0 0 0 rg BT 102.18 618.75 Td (of ) Tj ET Q q 0 0 0 rg BT 113.20 618.75 Td (exploitation, ) Tj ET Q q 0 0 0 rg BT 166.16 618.75 Td (drilling ) Tj ET Q q 0 0 0 rg BT 198.29 618.75 Td (and ) Tj ET Q q 0 0 0 rg BT 215.42 618.75 Td (proven ) Tj ET Q q 0 0 0 rg BT 245.88 618.75 Td (engineering ) Tj ET Q q 0 0 0 rg BT 295.77 618.75 Td (extraction ) Tj ET Q q 0 0 0 rg BT 338.45 618.75 Td (practices, ) Tj ET Q q 0 0 0 rg BT 379.17 618.75 Td (with ) Tj ET Q q 0 0 0 rg BT 399.64 618.75 Td (the ) Tj ET Q q 0 0 0 rg BT 414.54 618.75 Td (most ) Tj ET Q q 0 0 0 rg BT 436.68 618.75 Td (significant ) Tj ET Q q 0 0 0 rg BT 481.58 618.75 Td (emphasis ) Tj ET Q q 0 0 0 rg BT 521.49 618.75 Td (relating ) Tj ET Q q 0 0 0 rg BT 554.72 618.75 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 605.32 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.27 606.75 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 108.52 606.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 121.58 606.75 Td (recovery ) Tj ET Q q 0 0 0 rg BT 159.05 606.75 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 582.75 Td (As ) Tj ET Q q 0 0 0 rg BT 80.90 582.75 Td (part ) Tj ET Q q 0 0 0 rg BT 98.72 582.75 Td (of ) Tj ET Q q 0 0 0 rg BT 109.34 582.75 Td (our ) Tj ET Q q 0 0 0 rg BT 124.95 582.75 Td (corporate ) Tj ET Q q 0 0 0 rg BT 164.98 582.75 Td (strategy) Tj ET Q q 0 0 0 rg BT 195.99 582.75 Td (, ) Tj ET Q q 0 0 0 rg BT 200.77 582.75 Td (we ) Tj ET Q q 0 0 0 rg BT 214.71 582.75 Td (are ) Tj ET Q q 0 0 0 rg BT 229.20 582.75 Td (committed ) Tj ET Q q 0 0 0 rg BT 274.25 582.75 Td (to ) Tj ET Q q 0 0 0 rg BT 284.31 582.75 Td (strong ) Tj ET Q q 0 0 0 rg BT 311.59 582.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 348.86 582.75 Td (discipline, ) Tj ET Q q 0 0 0 rg BT 392.52 582.75 Td (ef) Tj ET Q q 0 0 0 rg BT 400.11 582.75 Td (ficient ) Tj ET Q q 0 0 0 rg BT 427.93 582.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 471.87 582.75 Td (and ) Tj ET Q q 0 0 0 rg BT 488.59 582.75 Td (creating ) Tj ET Q q 0 0 0 rg BT 523.07 582.75 Td (long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.75 Td (value ) Tj ET Q q 0 0 0 rg BT 73.66 570.75 Td (for ) Tj ET Q q 0 0 0 rg BT 87.82 570.75 Td (our ) Tj ET Q q 0 0 0 rg BT 103.65 570.75 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 156.68 570.75 Td (through ) Tj ET Q q 0 0 0 rg BT 190.29 570.75 Td (the ) Tj ET Q q 0 0 0 rg BT 205.01 570.75 Td (following ) Tj ET Q q 0 0 0 rg BT 246.39 570.75 Td (key ) Tj ET Q q 0 0 0 rg BT 263.33 570.75 Td (principles:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 546.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 546.75 Td (tar) Tj ET Q q 0 0 0 rg BT 95.87 546.75 Td (get ) Tj ET Q q 0 0 0 rg BT 109.79 546.75 Td (specific ) Tj ET Q q 0 0 0 rg BT 142.58 546.75 Td (regions ) Tj ET Q q 0 0 0 rg BT 173.73 546.75 Td (where ) Tj ET Q q 0 0 0 rg BT 199.86 546.75 Td (we ) Tj ET Q q 0 0 0 rg BT 213.22 546.75 Td (either ) Tj ET Q q 0 0 0 rg BT 237.69 546.75 Td (have, ) Tj ET Q q 0 0 0 rg BT 260.77 546.75 Td (or ) Tj ET Q q 0 0 0 rg BT 270.81 546.75 Td (believe ) Tj ET Q q 0 0 0 rg BT 301.38 546.75 Td (we ) Tj ET Q q 0 0 0 rg BT 314.75 546.75 Td (can ) Tj ET Q q 0 0 0 rg BT 330.33 546.75 Td (create, ) Tj ET Q q 0 0 0 rg BT 358.40 546.75 Td (a ) Tj ET Q q 0 0 0 rg BT 364.54 546.75 Td (competitive ) Tj ET Q q 0 0 0 rg BT 413.45 546.75 Td (advantage ) Tj ET Q q 0 0 0 rg BT 455.69 546.75 Td (as ) Tj ET Q q 0 0 0 rg BT 465.72 546.75 Td (a ) Tj ET Q q 0 0 0 rg BT 471.86 546.75 Td (result ) Tj ET Q q 0 0 0 rg BT 495.78 546.75 Td (of ) Tj ET Q q 0 0 0 rg BT 505.82 546.75 Td (our ) Tj ET Q q 0 0 0 rg BT 520.85 546.75 Td (ownership ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 534.75 Td (or ) Tj ET Q q 0 0 0 rg BT 96.33 534.75 Td (use ) Tj ET Q q 0 0 0 rg BT 112.16 534.75 Td (of ) Tj ET Q q 0 0 0 rg BT 122.99 534.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 136.88 533.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.13 534.75 Td ( ) Tj ET Q q 0 0 0 rg BT 142.63 534.75 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 180.39 534.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 193.45 534.75 Td (fields ) Tj ET Q q 0 0 0 rg BT 218.16 534.75 Td (and ) Tj ET Q q 0 0 0 rg BT 235.10 534.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 248.99 533.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.24 534.75 Td ( ) Tj ET Q q 0 0 0 rg BT 254.74 534.75 Td (infrastructure;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 522.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 522.75 Td (secure ) Tj ET Q q 0 0 0 rg BT 112.74 522.75 Td (properties ) Tj ET Q q 0 0 0 rg BT 154.43 522.75 Td (where ) Tj ET Q q 0 0 0 rg BT 180.56 522.75 Td (we ) Tj ET Q q 0 0 0 rg BT 193.92 522.75 Td (believe ) Tj ET Q q 0 0 0 rg BT 224.49 522.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 266.18 522.75 Td (value ) Tj ET Q q 0 0 0 rg BT 289.54 522.75 Td (can ) Tj ET Q q 0 0 0 rg BT 305.12 522.75 Td (be ) Tj ET Q q 0 0 0 rg BT 316.26 522.75 Td (created ) Tj ET Q q 0 0 0 rg BT 346.82 522.75 Td (through ) Tj ET Q q 0 0 0 rg BT 379.63 522.75 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 410.21 522.75 Td (recovery ) Tj ET Q q 0 0 0 rg BT 446.88 522.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 490.24 522.75 Td (and ) Tj ET Q q 0 0 0 rg BT 506.38 522.75 Td (a ) Tj ET Q q 0 0 0 rg BT 512.52 522.75 Td (combination ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 96.33 510.75 Td (other ) Tj ET Q q 0 0 0 rg BT 119.38 510.75 Td (exploitation, ) Tj ET Q q 0 0 0 rg BT 172.15 510.75 Td (development, ) Tj ET Q q 0 0 0 rg BT 228.80 510.75 Td (exploration ) Tj ET Q q 0 0 0 rg BT 276.84 510.75 Td (and ) Tj ET Q q 0 0 0 rg BT 293.78 510.75 Td (marketing ) Tj ET Q q 0 0 0 rg BT 336.82 510.75 Td (techniques;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 498.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 498.75 Td (acquire ) Tj ET Q q 0 0 0 rg BT 117.05 498.75 Td (properties ) Tj ET Q q 0 0 0 rg BT 159.17 498.75 Td (that ) Tj ET Q q 0 0 0 rg BT 176.29 498.75 Td (give ) Tj ET Q q 0 0 0 rg BT 195.63 498.75 Td (us ) Tj ET Q q 0 0 0 rg BT 206.65 498.75 Td (a ) Tj ET Q q 0 0 0 rg BT 213.22 498.75 Td (majority ) Tj ET Q q 0 0 0 rg BT 249.23 498.75 Td (working ) Tj ET Q q 0 0 0 rg BT 284.69 498.75 Td (interest ) Tj ET Q q 0 0 0 rg BT 316.25 498.75 Td (and ) Tj ET Q q 0 0 0 rg BT 332.81 498.75 Td (operational ) Tj ET Q q 0 0 0 rg BT 379.92 498.75 Td (control ) Tj ET Q q 0 0 0 rg BT 410.38 498.75 Td (or ) Tj ET Q q 0 0 0 rg BT 420.83 498.75 Td (where ) Tj ET Q q 0 0 0 rg BT 447.39 498.75 Td (we ) Tj ET Q q 0 0 0 rg BT 461.18 498.75 Td (believe ) Tj ET Q q 0 0 0 rg BT 492.18 498.75 Td (we ) Tj ET Q q 0 0 0 rg BT 505.97 498.75 Td (can ) Tj ET Q q 0 0 0 rg BT 521.97 498.75 Td (ultimately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 486.75 Td (obtain ) Tj ET Q q 0 0 0 rg BT 113.00 486.75 Td (it;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 474.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 474.75 Td (maximize ) Tj ET Q q 0 0 0 rg BT 126.94 474.75 Td (the ) Tj ET Q q 0 0 0 rg BT 141.17 474.75 Td (value ) Tj ET Q q 0 0 0 rg BT 164.83 474.75 Td (and ) Tj ET Q q 0 0 0 rg BT 181.28 474.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 201.06 474.75 Td (flow ) Tj ET Q q 0 0 0 rg BT 221.40 474.75 Td (generated ) Tj ET Q q 0 0 0 rg BT 262.28 474.75 Td (from ) Tj ET Q q 0 0 0 rg BT 283.72 474.75 Td (our ) Tj ET Q q 0 0 0 rg BT 299.07 474.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 342.73 474.75 Td (by ) Tj ET Q q 0 0 0 rg BT 354.74 474.75 Td (increasing ) Tj ET Q q 0 0 0 rg BT 397.85 474.75 Td (production ) Tj ET Q q 0 0 0 rg BT 443.18 474.75 Td (and ) Tj ET Q q 0 0 0 rg BT 459.63 474.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 494.40 474.75 Td (while ) Tj ET Q q 0 0 0 rg BT 518.63 474.75 Td (controlling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 462.75 Td (costs;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 450.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 450.75 Td (optimize ) Tj ET Q q 0 0 0 rg BT 122.92 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 137.57 450.75 Td (timing ) Tj ET Q q 0 0 0 rg BT 166.12 450.75 Td (and ) Tj ET Q q 0 0 0 rg BT 182.99 450.75 Td (allocation ) Tj ET Q q 0 0 0 rg BT 224.85 450.75 Td (of ) Tj ET Q q 0 0 0 rg BT 235.62 450.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 264.70 450.75 Td (among ) Tj ET Q q 0 0 0 rg BT 294.35 450.75 Td (our ) Tj ET Q q 0 0 0 rg BT 310.11 450.75 Td (investment ) Tj ET Q q 0 0 0 rg BT 356.43 450.75 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 411.63 450.75 Td (to ) Tj ET Q q 0 0 0 rg BT 421.85 450.75 Td (maximize ) Tj ET Q q 0 0 0 rg BT 463.71 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 478.36 450.75 Td (rates ) Tj ET Q q 0 0 0 rg BT 499.67 450.75 Td (of ) Tj ET Q q 0 0 0 rg BT 510.43 450.75 Td (return ) Tj ET Q q 0 0 0 rg BT 536.74 450.75 Td (on ) Tj ET Q q 0 0 0 rg BT 549.17 450.75 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 438.75 Td (investments;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 426.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 426.75 Td (exercise ) Tj ET Q q 0 0 0 rg BT 121.32 426.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 159.38 426.75 Td (discipline ) Tj ET Q q 0 0 0 rg BT 201.33 426.75 Td (by ) Tj ET Q q 0 0 0 rg BT 214.40 426.75 Td (attempting ) Tj ET Q q 0 0 0 rg BT 260.24 426.75 Td (to ) Tj ET Q q 0 0 0 rg BT 271.08 426.75 Td (balance ) Tj ET Q q 0 0 0 rg BT 304.69 426.75 Td (our ) Tj ET Q q 0 0 0 rg BT 321.09 426.75 Td (development ) Tj ET Q q 0 0 0 rg BT 375.81 426.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 405.53 426.75 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 459.69 426.75 Td (with ) Tj ET Q q 0 0 0 rg BT 480.54 426.75 Td (our ) Tj ET Q q 0 0 0 rg BT 496.94 426.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 517.78 426.75 Td (flows ) Tj ET Q q 0 0 0 rg BT 543.07 426.75 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 414.75 Td (operations; ) Tj ET Q q 0 0 0 rg BT 132.43 414.75 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 402.75 Td (attract ) Tj ET Q q 0 0 0 rg BT 112.98 402.75 Td (and ) Tj ET Q q 0 0 0 rg BT 129.92 402.75 Td (maintain ) Tj ET Q q 0 0 0 rg BT 167.41 402.75 Td (a ) Tj ET Q q 0 0 0 rg BT 174.35 402.75 Td (highly ) Tj ET Q q 0 0 0 rg BT 202.40 402.75 Td (competitive ) Tj ET Q q 0 0 0 rg BT 252.11 402.75 Td (team ) Tj ET Q q 0 0 0 rg BT 274.04 402.75 Td (of ) Tj ET Q q 0 0 0 rg BT 284.88 402.75 Td (experienced ) Tj ET Q q 0 0 0 rg BT 335.68 402.75 Td (and ) Tj ET Q q 0 0 0 rg BT 352.61 402.75 Td (incentivized ) Tj ET Q q 0 0 0 rg BT 403.98 402.75 Td (personnel.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 378.75 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 105.51 378.75 Td (has ) Tj ET Q q 0 0 0 rg BT 121.87 378.75 Td (been ) Tj ET Q q 0 0 0 rg BT 143.77 378.75 Td (publicly ) Tj ET Q q 0 0 0 rg BT 179.57 378.75 Td (traded ) Tj ET Q q 0 0 0 rg BT 207.58 378.75 Td (on ) Tj ET Q q 0 0 0 rg BT 220.60 378.75 Td (the ) Tj ET Q q 0 0 0 rg BT 235.84 378.75 Td (New ) Tj ET Q q 0 0 0 rg BT 257.30 378.75 Td (Y) Tj ET Q q 0 0 0 rg BT 263.52 378.75 Td (ork ) Tj ET Q q 0 0 0 rg BT 279.87 378.75 Td (Stock ) Tj ET Q q 0 0 0 rg BT 305.67 378.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 348.12 378.75 Td (since ) Tj ET Q q 0 0 0 rg BT 371.69 378.75 Td (1997. ) Tj ET Q q 0 0 0 rg BT 397.22 378.75 Td ( ) Tj ET Q q 0 0 0 rg BT 400.24 378.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 418.82 378.75 Td (corporate ) Tj ET Q q 0 0 0 rg BT 459.59 378.75 Td (headquarters ) Tj ET Q q 0 0 0 rg BT 513.70 378.75 Td (is ) Tj ET Q q 0 0 0 rg BT 523.40 378.75 Td (located ) Tj ET Q q 0 0 0 rg BT 555.29 378.75 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.75 Td (5320 ) Tj ET Q q 0 0 0 rg BT 71.58 366.75 Td (Legacy ) Tj ET Q q 0 0 0 rg BT 103.07 366.75 Td (Drive, ) Tj ET Q q 0 0 0 rg BT 130.42 366.75 Td (Plano, ) Tj ET Q q 0 0 0 rg BT 157.62 366.75 Td (T) Tj ET Q q 0 0 0 rg BT 163.03 366.75 Td (exas ) Tj ET Q q 0 0 0 rg BT 182.88 366.75 Td (75024, ) Tj ET Q q 0 0 0 rg BT 212.45 366.75 Td (and ) Tj ET Q q 0 0 0 rg BT 228.96 366.75 Td (our ) Tj ET Q q 0 0 0 rg BT 244.37 366.75 Td (phone ) Tj ET Q q 0 0 0 rg BT 270.88 366.75 Td (number ) Tj ET Q q 0 0 0 rg BT 303.51 366.75 Td (is ) Tj ET Q q 0 0 0 rg BT 312.25 366.75 Td (972-673-2000. ) Tj ET Q q 0 0 0 rg BT 373.49 366.75 Td ( ) Tj ET Q q 0 0 0 rg BT 375.10 366.75 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.18 366.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 445.34 366.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.34 366.75 Td (, ) Tj ET Q q 0 0 0 rg BT 469.91 366.75 Td (we ) Tj ET Q q 0 0 0 rg BT 483.65 366.75 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.16 366.75 Td (847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.16 366.75 Td ( ) Tj ET Q q 0 0 0 rg BT 517.24 366.75 Td (employees, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.75 Td (484 ) Tj ET Q q 0 0 0 rg BT 66.37 354.75 Td (of ) Tj ET Q q 0 0 0 rg BT 76.58 354.75 Td (whom ) Tj ET Q q 0 0 0 rg BT 103.45 354.75 Td (were ) Tj ET Q q 0 0 0 rg BT 124.75 354.75 Td (employed ) Tj ET Q q 0 0 0 rg BT 166.06 354.75 Td (in ) Tj ET Q q 0 0 0 rg BT 175.71 354.75 Td (field ) Tj ET Q q 0 0 0 rg BT 195.90 354.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 239.43 354.75 Td (or ) Tj ET Q q 0 0 0 rg BT 249.63 354.75 Td (at ) Tj ET Q q 0 0 0 rg BT 258.72 354.75 Td (our ) Tj ET Q q 0 0 0 rg BT 273.93 354.75 Td (field ) Tj ET Q q 0 0 0 rg BT 294.12 354.75 Td (of) Tj ET Q q 0 0 0 rg BT 302.27 354.75 Td (fices.��) Tj ET Q q 0 0 0 rg BT 328.47 354.75 Td (W) Tj ET Q q 0 0 0 rg BT 337.11 354.75 Td (e ) Tj ET Q q 0 0 0 rg BT 343.42 354.75 Td (make ) Tj ET Q q 0 0 0 rg BT 366.95 354.75 Td (our ) Tj ET Q q 0 0 0 rg BT 382.15 354.75 Td (annual ) Tj ET Q q 0 0 0 rg BT 410.68 354.75 Td (report ) Tj ET Q q 0 0 0 rg BT 436.43 354.75 Td (on ) Tj ET Q q 0 0 0 rg BT 448.30 354.75 Td (Form ) Tj ET Q q 0 0 0 rg BT 471.84 354.75 Td (10-K, ) Tj ET Q q 0 0 0 rg BT 496.77 354.75 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 534.73 354.75 Td (reports ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.75 Td (on ) Tj ET Q q 0 0 0 rg BT 61.51 342.75 Td (Form ) Tj ET Q q 0 0 0 rg BT 85.20 342.75 Td (10-Q, ) Tj ET Q q 0 0 0 rg BT 110.26 342.75 Td (current ) Tj ET Q q 0 0 0 rg BT 140.59 342.75 Td (reports ) Tj ET Q q 0 0 0 rg BT 170.38 342.75 Td (on ) Tj ET Q q 0 0 0 rg BT 182.39 342.75 Td (Form ) Tj ET Q q 0 0 0 rg BT 206.07 342.75 Td (8-K, ) Tj ET Q q 0 0 0 rg BT 226.14 342.75 Td (and ) Tj ET Q q 0 0 0 rg BT 242.59 342.75 Td (amendments ) Tj ET Q q 0 0 0 rg BT 295.15 342.75 Td (to ) Tj ET Q q 0 0 0 rg BT 304.94 342.75 Td (those ) Tj ET Q q 0 0 0 rg BT 328.06 342.75 Td (reports, ) Tj ET Q q 0 0 0 rg BT 360.35 342.75 Td (filed ) Tj ET Q q 0 0 0 rg BT 380.69 342.75 Td (or ) Tj ET Q q 0 0 0 rg BT 391.03 342.75 Td (furnished ) Tj ET Q q 0 0 0 rg BT 430.81 342.75 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 467.27 342.75 Td (to ) Tj ET Q q 0 0 0 rg BT 477.06 342.75 Td (section ) Tj ET Q q 0 0 0 rg BT 507.40 342.75 Td (13\(a\) ) Tj ET Q q 0 0 0 rg BT 530.51 342.75 Td (or ) Tj ET Q q 0 0 0 rg BT 540.85 342.75 Td (15\(d\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.75 Td (of ) Tj ET Q q 0 0 0 rg BT 59.32 330.75 Td (the ) Tj ET Q q 0 0 0 rg BT 73.02 330.75 Td (Securities ) Tj ET Q q 0 0 0 rg BT 113.94 330.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 154.52 330.75 Td (Act ) Tj ET Q q 0 0 0 rg BT 170.44 330.75 Td (of ) Tj ET Q q 0 0 0 rg BT 180.26 330.75 Td (1934, ) Tj ET Q q 0 0 0 rg BT 204.25 330.75 Td (available ) Tj ET Q q 0 0 0 rg BT 241.82 330.75 Td (free ) Tj ET Q q 0 0 0 rg BT 258.84 330.75 Td (of ) Tj ET Q q 0 0 0 rg BT 268.66 330.75 Td (char) Tj ET Q q 0 0 0 rg BT 285.69 330.75 Td (ge ) Tj ET Q q 0 0 0 rg BT 296.61 330.75 Td (on ) Tj ET Q q 0 0 0 rg BT 308.10 330.75 Td (or ) Tj ET Q q 0 0 0 rg BT 317.91 330.75 Td (through ) Tj ET Q q 0 0 0 rg BT 350.51 330.75 Td (our ) Tj ET Q q 0 0 0 rg BT 365.32 330.75 Td (website, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 399.8544921875 329.4169921875 m 475.2060546875 329.4169921875 l s q 0 0 0 rg BT 399.85 330.75 Td (www) Tj ET Q q 0 0 0 rg BT 420.87 330.75 Td (.denbury) Tj ET Q q 0 0 0 rg BT 455.49 330.75 Td (.com) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.21 330.75 Td (, ) Tj ET Q q 0 0 0 rg BT 479.19 330.75 Td (as ) Tj ET Q q 0 0 0 rg BT 489.01 330.75 Td (soon ) Tj ET Q q 0 0 0 rg BT 509.39 330.75 Td (as ) Tj ET Q q 0 0 0 rg BT 519.20 330.75 Td (reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.75 Td (practicable ) Tj ET Q q 0 0 0 rg BT 96.49 318.75 Td (after ) Tj ET Q q 0 0 0 rg BT 117.93 318.75 Td (we ) Tj ET Q q 0 0 0 rg BT 132.72 318.75 Td (electronically ) Tj ET Q q 0 0 0 rg BT 190.26 318.75 Td (file ) Tj ET Q q 0 0 0 rg BT 206.72 318.75 Td (such ) Tj ET Q q 0 0 0 rg BT 228.18 318.75 Td (material ) Tj ET Q q 0 0 0 rg BT 264.06 318.75 Td (with, ) Tj ET Q q 0 0 0 rg BT 287.47 318.75 Td (or ) Tj ET Q q 0 0 0 rg BT 298.93 318.75 Td (furnish ) Tj ET Q q 0 0 0 rg BT 330.39 318.75 Td (it ) Tj ET Q q 0 0 0 rg BT 339.07 318.75 Td (to, ) Tj ET Q q 0 0 0 rg BT 352.48 318.75 Td (the ) Tj ET Q q 0 0 0 rg BT 367.83 318.75 Td (SEC.��) Tj ET Q q 0 0 0 rg BT 393.49 318.75 Td (The ) Tj ET Q q 0 0 0 rg BT 412.16 318.75 Td (SEC ) Tj ET Q q 0 0 0 rg BT 433.63 318.75 Td (also ) Tj ET Q q 0 0 0 rg BT 452.87 318.75 Td (maintains ) Tj ET Q q 0 0 0 rg BT 494.88 318.75 Td (a ) Tj ET Q q 0 0 0 rg BT 502.45 318.75 Td (website, ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 538.6220703125 317.4169921875 m 562.513671875 317.4169921875 l s q 0 0 0 rg BT 538.62 318.75 Td (http://) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 305.4169921875 m 102.95947265625 305.4169921875 l s q 0 0 0 rg BT 49.50 306.75 Td (www) Tj ET Q q 0 0 0 rg BT 70.52 306.75 Td (.sec.gov) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.63 306.75 Td (, ) Tj ET Q q 0 0 0 rg BT 107.59 306.75 Td (which ) Tj ET Q q 0 0 0 rg BT 134.48 306.75 Td (contains ) Tj ET Q q 0 0 0 rg BT 170.26 306.75 Td (periodic ) Tj ET Q q 0 0 0 rg BT 205.48 306.75 Td (reports ) Tj ET Q q 0 0 0 rg BT 235.70 306.75 Td (on ) Tj ET Q q 0 0 0 rg BT 248.15 306.75 Td (Forms ) Tj ET Q q 0 0 0 rg BT 276.17 306.75 Td (8-K, ) Tj ET Q q 0 0 0 rg BT 296.67 306.75 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 319.68 306.75 Td (and ) Tj ET Q q 0 0 0 rg BT 336.57 306.75 Td (10-K ) Tj ET Q q 0 0 0 rg BT 359.58 306.75 Td (filed ) Tj ET Q q 0 0 0 rg BT 380.35 306.75 Td (with ) Tj ET Q q 0 0 0 rg BT 400.59 306.75 Td (the ) Tj ET Q q 0 0 0 rg BT 415.26 306.75 Td (SEC, ) Tj ET Q q 0 0 0 rg BT 438.55 306.75 Td (along ) Tj ET Q q 0 0 0 rg BT 463.22 306.75 Td (with ) Tj ET Q q 0 0 0 rg BT 483.45 306.75 Td (other ) Tj ET Q q 0 0 0 rg BT 506.45 306.75 Td (reports, ) Tj ET Q q 0 0 0 rg BT 539.18 306.75 Td (proxy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.75 Td (and ) Tj ET Q q 0 0 0 rg BT 66.70 294.75 Td (information ) Tj ET Q q 0 0 0 rg BT 116.68 294.75 Td (statements ) Tj ET Q q 0 0 0 rg BT 161.66 294.75 Td (and ) Tj ET Q q 0 0 0 rg BT 178.87 294.75 Td (other ) Tj ET Q q 0 0 0 rg BT 202.18 294.75 Td (information ) Tj ET Q q 0 0 0 rg BT 252.16 294.75 Td (filed ) Tj ET Q q 0 0 0 rg BT 273.25 294.75 Td (by ) Tj ET Q q 0 0 0 rg BT 286.01 294.75 Td (Denbury) Tj ET Q q 0 0 0 rg BT 320.35 294.75 Td (.��) Tj ET Q q 0 0 0 rg BT 327.67 294.75 Td (Throughout ) Tj ET Q q 0 0 0 rg BT 377.66 294.75 Td (this ) Tj ET Q q 0 0 0 rg BT 394.26 294.75 Td (Annual ) Tj ET Q q 0 0 0 rg BT 426.47 294.75 Td (Report ) Tj ET Q q 0 0 0 rg BT 456.45 294.75 Td (on ) Tj ET Q q 0 0 0 rg BT 469.21 294.75 Td (Form ) Tj ET Q q 0 0 0 rg BT 493.65 294.75 Td (10-K ) Tj ET Q q 0 0 0 rg BT 516.97 294.75 Td (\(�Form ) Tj ET Q q 0 0 0 rg BT 549.17 294.75 Td (10-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.75 Td (K�\) ) Tj ET Q q 0 0 0 rg BT 67.15 282.75 Td (we ) Tj ET Q q 0 0 0 rg BT 81.47 282.75 Td (use ) Tj ET Q q 0 0 0 rg BT 97.46 282.75 Td (the ) Tj ET Q q 0 0 0 rg BT 112.34 282.75 Td (terms ) Tj ET Q q 0 0 0 rg BT 137.22 282.75 Td (�Denbury) Tj ET Q q 0 0 0 rg BT 176.00 282.75 Td (,� ) Tj ET Q q 0 0 0 rg BT 185.60 282.75 Td (�Company) Tj ET Q q 0 0 0 rg BT 228.27 282.75 Td (,� ) Tj ET Q q 0 0 0 rg BT 237.87 282.75 Td (�we,� ) Tj ET Q q 0 0 0 rg BT 263.57 282.75 Td (�our� ) Tj ET Q q 0 0 0 rg BT 288.44 282.75 Td (and ) Tj ET Q q 0 0 0 rg BT 305.54 282.75 Td (�us� ) Tj ET Q q 0 0 0 rg BT 325.97 282.75 Td (to ) Tj ET Q q 0 0 0 rg BT 336.41 282.75 Td (refer ) Tj ET Q q 0 0 0 rg BT 357.94 282.75 Td (to ) Tj ET Q q 0 0 0 rg BT 368.38 282.75 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 406.03 282.75 Td (Resources ) Tj ET Q q 0 0 0 rg BT 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rg BT 406.60 174.75 Td (closing ) Tj ET Q q 0 0 0 rg BT 437.46 174.75 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 483.60 174.75 Td (which ) Tj ET Q q 0 0 0 rg BT 510.01 174.75 Td (are ) Tj ET Q q 0 0 0 rg BT 524.19 174.75 Td (described ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.75 Td (in ) Tj ET Q q 0 0 0 rg BT 59.65 162.75 Td (the ) Tj ET Q q 0 0 0 rg BT 74.25 162.75 Td (Form ) Tj ET Q q 0 0 0 rg BT 98.29 162.75 Td (8-K ) Tj ET Q q 0 0 0 rg BT 116.22 162.75 Td (references ) Tj ET Q q 0 0 0 rg BT 159.67 162.75 Td (below) Tj ET Q q 0 0 0 rg BT 183.46 162.75 Td (. ) Tj ET Q q 0 0 0 rg BT 188.33 162.75 Td ( ) Tj ET Q q 0 0 0 rg BT 190.18 162.75 Td (A) Tj ET Q q 0 0 0 rg BT 196.85 162.75 Td ( ) Tj ET Q q 0 0 0 rg BT 199.23 162.75 Td (Form ) Tj ET Q q 0 0 0 rg BT 223.27 162.75 Td (S-4 ) Tj ET Q q 0 0 0 rg BT 239.54 162.75 Td (Registration ) Tj ET Q q 0 0 0 rg BT 290.80 162.75 Td (Statement ) Tj ET Q q 0 0 0 rg BT 333.17 162.75 Td (pertaining ) Tj ET Q q 0 0 0 rg BT 376.08 162.75 Td 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90.75 Td (Condition ) Tj ET Q q 0 0 0 rg BT 179.57 90.75 Td (and ) Tj ET Q q 0 0 0 rg BT 196.39 90.75 Td (Results ) Tj ET Q q 0 0 0 rg BT 228.22 90.75 Td (of ) Tj ET Q q 0 0 0 rg BT 238.93 90.75 Td (Operations, ) Tj ET Q q 0 0 0 rg BT 287.68 90.75 Td (which ) Tj ET Q q 0 0 0 rg BT 314.50 90.75 Td (is ) Tj ET Q q 0 0 0 rg BT 323.55 90.75 Td (only ) Tj ET Q q 0 0 0 rg BT 343.71 90.75 Td (a ) Tj ET Q q 0 0 0 rg BT 350.53 90.75 Td (summary ) Tj ET Q q 0 0 0 rg BT 390.13 90.75 Td (of ) Tj ET Q q 0 0 0 rg BT 400.84 90.75 Td (certain ) Tj ET Q q 0 0 0 rg BT 430.42 90.75 Td (aspects ) Tj ET Q q 0 0 0 rg BT 461.68 90.75 Td (of ) Tj ET Q q 0 0 0 rg BT 472.39 90.75 Td (the ) Tj ET Q q 0 0 0 rg BT 486.99 90.75 Td (Mer) Tj ET Q q 0 0 0 rg BT 503.46 90.75 Td (ger ) Tj ET Q q 0 0 0 rg BT 518.09 90.75 Td (Agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.75 Td (and ) Tj ET Q q 0 0 0 rg BT 66.92 78.75 Td (the ) Tj ET Q q 0 0 0 rg BT 82.12 78.75 Td (transactions ) Tj ET Q q 0 0 0 rg BT 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0 0 rg BT 229.11 642.60 Td (ir) Tj ET Q q 0 0 0 rg BT 235.04 642.60 Td (ginia�) Tj ET Q q 0 0 0 rg BT 257.81 642.60 Td (s ) Tj ET Q q 0 0 0 rg BT 263.78 642.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 297.53 642.60 Td (bank ) Tj ET Q q 0 0 0 rg BT 319.05 642.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 343.90 642.60 Td (facility) Tj ET Q q 0 0 0 rg BT 371.57 642.60 Td (, ) Tj ET Q q 0 0 0 rg BT 376.15 642.60 Td (which ) Tj ET Q q 0 0 0 rg BT 402.67 642.60 Td (had ) Tj ET Q q 0 0 0 rg BT 419.19 642.60 Td ($321 ) Tj ET Q q 0 0 0 rg BT 441.28 642.60 Td (million ) Tj ET Q q 0 0 0 rg BT 472.25 642.60 Td (drawn ) Tj ET Q q 0 0 0 rg BT 499.32 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 515.84 642.60 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (as ) Tj ET Q q 0 0 0 rg BT 60.33 630.60 Td (of ) Tj ET Q q 0 0 0 rg BT 71.16 630.60 Td (December ) Tj ET Q q 0 0 0 rg BT 114.74 630.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 129.74 630.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 154.74 630.60 Td (and ) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 606.60 Td (Consummation ) Tj ET Q q 0 0 0 rg BT 131.86 606.60 Td (of ) Tj ET Q q 0 0 0 rg BT 143.43 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 158.89 606.60 Td (Mer) Tj ET Q q 0 0 0 rg BT 175.37 606.60 Td (ger ) Tj ET Q q 0 0 0 rg BT 191.39 606.60 Td (and ) Tj ET Q q 0 0 0 rg BT 209.07 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 224.53 606.60 Td (related ) Tj ET Q q 0 0 0 rg BT 254.98 606.60 Td (financing, ) Tj ET Q q 0 0 0 rg BT 298.49 606.60 Td (which ) Tj ET Q q 0 0 0 rg BT 326.17 606.60 Td (cannot ) Tj ET Q q 0 0 0 rg BT 356.07 606.60 Td (be ) Tj ET Q q 0 0 0 rg BT 368.75 606.60 Td (assured ) Tj ET Q q 0 0 0 rg BT 401.99 606.60 Td (and ) Tj ET Q q 0 0 0 rg BT 419.67 606.60 Td (requires ) Tj ET Q q 0 0 0 rg BT 455.12 606.60 Td (satisfaction ) Tj ET Q q 0 0 0 rg BT 503.91 606.60 Td (of ) Tj ET Q q 0 0 0 rg BT 515.48 606.60 Td (a ) Tj ET Q q 0 0 0 rg BT 523.17 606.60 Td (variety ) Tj ET Q q 0 0 0 rg BT 554.17 606.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 96.17 594.60 Td (would ) Tj ET Q q 0 0 0 rg BT 123.67 594.60 Td (have ) Tj ET Q q 0 0 0 rg BT 145.04 594.60 Td (a ) Tj ET Q q 0 0 0 rg BT 151.98 594.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 196.69 594.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 226.40 594.60 Td (on ) Tj ET Q q 0 0 0 rg BT 238.90 594.60 Td (all ) Tj ET Q q 0 0 0 rg BT 251.40 594.60 Td (aspects ) Tj ET Q q 0 0 0 rg BT 282.78 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 293.61 594.60 Td (our ) Tj ET Q q 0 0 0 rg BT 309.44 594.60 Td (business ) Tj ET Q q 0 0 0 rg BT 345.83 594.60 Td (and ) Tj ET Q q 0 0 0 rg BT 362.77 594.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 400.25 594.60 Td (condition.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 69.50 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 72.00 570.60 Td (BUSINESS ) Tj ET Q q 0 0 0 rg BT 122.86 570.60 Td (DEVELOPMENTS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 546.60 Td (Since ) Tj ET Q q 0 0 0 rg BT 92.37 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 108.36 546.60 Td (production ) Tj ET Q q 0 0 0 rg BT 154.34 546.60 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.66 546.60 Td (97%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.99 546.60 Td ( ) Tj ET Q q 0 0 0 rg BT 184.65 546.60 Td (oil, ) Tj ET Q q 0 0 0 rg BT 200.36 546.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 213.57 546.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 240.10 546.60 Td (generally ) Tj ET Q q 0 0 0 rg BT 279.96 546.60 Td (constitute ) Tj ET Q q 0 0 0 rg BT 321.50 546.60 Td (the ) Tj ET Q q 0 0 0 rg BT 336.37 546.60 Td (single ) Tj ET Q q 0 0 0 rg BT 362.91 546.60 Td (lar) Tj ET Q q 0 0 0 rg BT 373.28 546.60 Td (gest ) Tj ET Q q 0 0 0 rg BT 392.04 546.60 Td (variable ) Tj ET Q q 0 0 0 rg BT 426.90 546.60 Td (in ) Tj ET Q q 0 0 0 rg BT 437.33 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 453.32 546.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 493.74 546.60 Td (results. ) Tj ET Q q 0 0 0 rg BT 525.00 546.60 Td ( ) Tj ET Q q 0 0 0 rg BT 527.66 546.60 Td (Over ) Tj ET Q q 0 0 0 rg BT 550.30 546.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (last ) Tj ET Q q 0 0 0 rg BT 66.06 534.60 Td (few ) Tj ET Q q 0 0 0 rg BT 83.72 534.60 Td (years, ) Tj ET Q q 0 0 0 rg BT 110.00 534.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 149.33 534.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 162.56 534.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 189.11 534.60 Td (have ) Tj ET Q q 0 0 0 rg BT 210.66 534.60 Td (been ) Tj ET Q q 0 0 0 rg BT 232.21 534.60 Td (volatile, ) Tj ET Q q 0 0 0 rg BT 267.38 534.60 Td (decreasing ) Tj ET Q q 0 0 0 rg BT 312.81 534.60 Td (to ) Tj ET Q q 0 0 0 rg BT 323.26 534.60 Td (a ) Tj ET Q q 0 0 0 rg BT 330.37 534.60 Td (low ) Tj ET Q q 0 0 0 rg BT 348.04 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 359.05 534.60 Td ($26 ) Tj ET Q q 0 0 0 rg BT 376.72 534.60 Td (in ) Tj ET Q q 0 0 0 rg BT 387.17 534.60 Td (early ) Tj ET Q q 0 0 0 rg BT 409.83 534.60 Td (2016 ) Tj ET Q q 0 0 0 rg BT 432.50 534.60 Td (and ) Tj ET Q q 0 0 0 rg BT 449.61 534.60 Td (gradually ) Tj ET Q q 0 0 0 rg BT 490.05 534.60 Td (improving ) Tj ET Q q 0 0 0 rg BT 534.39 534.60 Td (to ) Tj ET Q q 0 0 0 rg BT 544.84 534.60 Td (hit ) Tj ET Q q 0 0 0 rg BT 558.07 534.60 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (three-year ) Tj ET Q q 0 0 0 rg BT 92.36 522.60 Td (peak ) Tj ET Q q 0 0 0 rg BT 113.58 522.60 Td (of ) Tj ET Q q 0 0 0 rg BT 124.25 522.60 Td ($76 ) Tj ET Q q 0 0 0 rg BT 141.59 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 151.71 522.60 Td (October ) Tj ET Q q 0 0 0 rg BT 186.26 522.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 211.10 522.60 Td (before ) Tj ET Q q 0 0 0 rg BT 238.97 522.60 Td (retreating ) Tj ET Q q 0 0 0 rg BT 279.63 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 289.74 522.60 Td (the ) Tj ET Q q 0 0 0 rg BT 304.30 522.60 Td (low-$40�) Tj ET Q q 0 0 0 rg BT 340.41 522.60 Td (s ) Tj ET Q q 0 0 0 rg BT 346.64 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 356.76 522.60 Td (late ) Tj ET Q q 0 0 0 rg BT 373.53 522.60 Td (December ) Tj ET Q q 0 0 0 rg BT 416.96 522.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 439.30 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 456.08 522.60 Td (then ) Tj ET Q q 0 0 0 rg BT 475.63 522.60 Td (moving ) Tj ET Q q 0 0 0 rg BT 508.53 522.60 Td (upward ) Tj ET Q q 0 0 0 rg BT 540.86 522.60 Td (again ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (to ) Tj ET Q q 0 0 0 rg BT 59.68 510.60 Td (an ) Tj ET Q q 0 0 0 rg BT 71.51 510.60 Td (average ) Tj ET Q q 0 0 0 rg BT 105.00 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 115.73 510.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 175.88 510.60 Td ($53 ) Tj ET Q q 0 0 0 rg BT 193.28 510.60 Td (per ) Tj ET Q q 0 0 0 rg BT 208.45 510.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 225.30 510.60 Td (during ) Tj ET Q q 0 0 0 rg BT 253.81 510.60 Td (the ) Tj ET Q q 0 0 0 rg BT 268.42 510.60 Td (first ) Tj ET Q q 0 0 0 rg BT 286.93 510.60 Td (two ) Tj ET Q q 0 0 0 rg BT 304.33 510.60 Td (months ) Tj ET Q q 0 0 0 rg BT 336.17 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 346.90 510.60 Td (2019. ) Tj ET Q q 0 0 0 rg BT 371.80 510.60 Td ( ) Tj ET Q q 0 0 0 rg BT 374.20 510.60 Td (During ) Tj ET Q q 0 0 0 rg BT 404.93 510.60 Td (the ) Tj ET Q q 0 0 0 rg BT 419.55 510.60 Td (period ) Tj ET Q q 0 0 0 rg BT 447.49 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 458.22 510.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 483.39 510.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 496.34 510.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 525.12 510.60 Td (our ) Tj ET Q q 0 0 0 rg BT 540.85 510.60 Td (focus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 91.05 498.60 Td (has ) Tj ET Q q 0 0 0 rg BT 108.72 498.60 Td (been ) Tj ET Q q 0 0 0 rg BT 131.94 498.60 Td (on ) Tj ET Q q 0 0 0 rg BT 146.28 498.60 Td (preservation ) Tj ET Q q 0 0 0 rg BT 200.05 498.60 Td (of ) Tj ET Q q 0 0 0 rg BT 212.72 498.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 234.83 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 253.61 498.60 Td (liquidity) Tj ET Q q 0 0 0 rg BT 286.85 498.60 Td (, ) Tj ET Q q 0 0 0 rg BT 293.69 498.60 Td (together ) Tj ET Q q 0 0 0 rg BT 330.79 498.60 Td (with ) Tj ET Q q 0 0 0 rg BT 352.91 498.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 373.36 498.60 Td (reductions ) Tj ET Q q 0 0 0 rg BT 419.36 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 438.14 498.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 459.70 498.60 Td (management, ) Tj ET Q q 0 0 0 rg BT 517.63 498.60 Td (rather ) Tj ET Q q 0 0 0 rg BT 545.28 498.60 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (concentration ) Tj ET Q q 0 0 0 rg BT 106.42 486.60 Td (on ) Tj ET Q q 0 0 0 rg BT 118.92 486.60 Td (expansion ) Tj ET Q q 0 0 0 rg BT 161.97 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 178.90 486.60 Td (growth. ) Tj ET Q q 0 0 0 rg BT 212.23 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 214.73 486.60 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.79 486.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.79 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 255.29 486.60 Td (key ) Tj ET Q q 0 0 0 rg BT 272.22 486.60 Td (accomplishments ) Tj ET Q q 0 0 0 rg BT 344.15 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 361.09 486.60 Td (business ) Tj ET Q q 0 0 0 rg BT 397.48 486.60 Td (developments ) Tj ET Q q 0 0 0 rg BT 455.53 486.60 Td (included ) Tj ET Q q 0 0 0 rg BT 492.46 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 507.18 486.60 Td (following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 462.60 Td (Sanctioned ) Tj ET Q q 0 0 0 rg BT 113.78 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 128.96 462.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 142.85 461.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.10 462.60 Td ( ) Tj ET Q q 0 0 0 rg BT 147.95 462.60 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 187.55 462.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 199.95 462.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 236.77 462.60 Td (development ) Tj ET Q q 0 0 0 rg BT 290.27 462.60 Td (project ) Tj ET Q q 0 0 0 rg BT 319.88 462.60 Td (at ) Tj ET Q q 0 0 0 rg BT 328.95 462.60 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 354.67 462.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 379.99 462.60 Td (Anticline, ) Tj ET Q q 0 0 0 rg BT 421.55 462.60 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 459.31 462.60 Td (s ) Tj ET Q q 0 0 0 rg BT 465.05 462.60 Td (lar) Tj ET Q q 0 0 0 rg BT 475.42 462.60 Td (gest ) Tj ET Q q 0 0 0 rg BT 493.38 462.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 505.78 462.60 Td (field, ) Tj ET Q q 0 0 0 rg BT 528.45 462.60 Td (a ) Tj ET Q q 0 0 0 rg BT 534.74 462.60 Td (project ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 77.16 450.60 Td (access ) Tj ET Q q 0 0 0 rg BT 104.58 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 118.68 450.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 155.55 450.60 Td (for ) Tj ET Q q 0 0 0 rg BT 169.09 450.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 213.19 450.60 Td (long-term ) Tj ET Q q 0 0 0 rg BT 254.50 450.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 266.94 450.60 Td (production ) Tj ET Q q 0 0 0 rg BT 312.15 450.60 Td (and ) Tj ET Q q 0 0 0 rg BT 328.47 450.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 348.12 450.60 Td (flow ) Tj ET Q q 0 0 0 rg BT 368.33 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 378.55 450.60 Td (this ) Tj ET Q q 0 0 0 rg BT 394.88 450.60 Td (key ) Tj ET Q q 0 0 0 rg BT 411.20 450.60 Td (asset, ) Tj ET Q q 0 0 0 rg BT 435.02 450.60 Td (which ) Tj ET Q q 0 0 0 rg BT 461.34 450.60 Td (will ) Tj ET Q q 0 0 0 rg BT 478.78 450.60 Td (require ) Tj ET Q q 0 0 0 rg BT 508.98 450.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 537.51 450.60 Td (outlay ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 438.60 Td (for ) Tj ET Q q 0 0 0 rg BT 81.66 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 96.38 438.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 122.21 438.60 Td (phase ) Tj ET Q q 0 0 0 rg BT 147.48 438.60 Td (of ) Tj ET Q q 0 0 0 rg BT 158.31 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 173.02 438.60 Td (project ) Tj ET Q q 0 0 0 rg BT 203.29 438.60 Td (of ) Tj ET Q q 0 0 0 rg BT 214.12 438.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 274.38 438.60 Td ($300 ) Tj ET Q q 0 0 0 rg BT 296.88 438.60 Td (million ) Tj ET Q q 0 0 0 rg BT 328.27 438.60 Td (through ) Tj ET Q q 0 0 0 rg BT 361.88 438.60 Td (2022.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 414.60 Td (Generated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.21 414.60 Td ($529.7 ) Tj ET Q q 0 0 0 rg BT 141.33 414.60 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.22 414.60 Td ( ) Tj ET Q q 0 0 0 rg BT 172.84 414.60 Td (of ) Tj ET Q q 0 0 0 rg BT 183.79 414.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 204.18 414.60 Td (flow ) Tj ET Q q 0 0 0 rg BT 225.14 414.60 Td (from ) Tj ET Q q 0 0 0 rg BT 247.20 414.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 291.47 414.60 Td (in ) Tj ET Q q 0 0 0 rg BT 301.88 414.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 324.50 414.60 Td (\($443.6 ) Tj ET Q q 0 0 0 rg BT 357.95 414.60 Td (million ) Tj ET Q q 0 0 0 rg BT 389.46 414.60 Td (after ) Tj ET Q q 0 0 0 rg BT 410.40 414.60 Td (reducing ) Tj ET Q q 0 0 0 rg BT 448.01 414.60 Td (for ) Tj ET Q q 0 0 0 rg BT 462.29 414.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 494.35 414.60 Td (payments ) Tj ET Q q 0 0 0 rg BT 535.29 414.60 Td (treated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.60 Td (as ) Tj ET Q q 0 0 0 rg BT 78.33 402.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 98.05 402.60 Td (reduction\), ) Tj ET Q q 0 0 0 rg BT 144.14 402.60 Td (significantly ) Tj ET Q q 0 0 0 rg BT 196.63 402.60 Td (exceeding ) Tj ET Q q 0 0 0 rg BT 239.66 402.60 Td (our ) Tj ET Q q 0 0 0 rg BT 255.49 402.60 Td (incurred ) Tj ET Q q 0 0 0 rg BT 291.31 402.60 Td (development ) Tj ET Q q 0 0 0 rg BT 345.46 402.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 374.61 402.60 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 428.20 402.60 Td (in ) Tj ET Q q 0 0 0 rg BT 438.48 402.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 460.98 402.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.81 402.60 Td ($322.7 ) Tj ET Q q 0 0 0 rg BT 501.81 402.60 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.70 402.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 378.60 Td (Reduced ) Tj ET Q q 0 0 0 rg BT 104.60 378.60 Td (our ) Tj ET Q q 0 0 0 rg BT 120.05 378.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 139.39 378.60 Td (principal ) Tj ET Q q 0 0 0 rg BT 177.05 378.60 Td (by ) Tj ET Q q 0 0 0 rg BT 189.17 378.60 Td ($243.2 ) Tj ET Q q 0 0 0 rg BT 218.79 378.60 Td (million ) Tj ET Q q 0 0 0 rg BT 249.80 378.60 Td (during ) Tj ET Q q 0 0 0 rg BT 278.03 378.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 302.65 378.60 Td (with ) Tj ET Q q 0 0 0 rg BT 322.54 378.60 Td ($144.1 ) Tj ET Q q 0 0 0 rg BT 352.16 378.60 Td (million ) Tj ET Q q 0 0 0 rg BT 383.17 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 393.62 378.60 Td (that ) Tj ET Q q 0 0 0 rg BT 410.74 378.60 Td (reduction ) Tj ET Q q 0 0 0 rg BT 450.62 378.60 Td (coming ) Tj ET Q q 0 0 0 rg BT 482.73 378.60 Td (from ) Tj ET Q q 0 0 0 rg BT 504.29 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 518.63 378.60 Td (conversion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 78.13 366.60 Td (our ) Tj ET Q q 0 0 0 rg BT 93.76 366.60 Td (5% ) Tj ET Q q 0 0 0 rg BT 109.39 366.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 158.90 366.60 Td (Senior ) Tj ET Q q 0 0 0 rg BT 187.31 366.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 212.94 366.60 Td (due ) Tj ET Q q 0 0 0 rg BT 229.68 366.60 Td (2023 ) Tj ET Q q 0 0 0 rg BT 251.98 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 268.72 366.60 Td (3�% ) Tj ET Q q 0 0 0 rg BT 291.85 366.60 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 341.36 366.60 Td (Senior ) Tj ET Q q 0 0 0 rg BT 369.77 366.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 395.40 366.60 Td (due ) Tj ET Q q 0 0 0 rg BT 412.13 366.60 Td (2024 ) Tj ET Q q 0 0 0 rg BT 434.43 366.60 Td (into ) Tj ET Q q 0 0 0 rg BT 452.29 366.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 479.58 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 490.21 366.60 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 527.50 366.60 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 354.60 Td (stock.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 330.60 Td (Extended ) Tj ET Q q 0 0 0 rg BT 107.76 330.60 Td (the ) Tj ET Q q 0 0 0 rg BT 122.48 330.60 Td (maturity ) Tj ET Q q 0 0 0 rg BT 158.86 330.60 Td (date ) Tj ET Q q 0 0 0 rg BT 178.02 330.60 Td (of ) Tj ET Q q 0 0 0 rg BT 188.85 330.60 Td (our ) Tj ET Q q 0 0 0 rg BT 204.68 330.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 231.62 330.60 Td (secured ) Tj ET Q q 0 0 0 rg BT 264.65 330.60 Td (bank ) Tj ET Q q 0 0 0 rg BT 286.59 330.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 311.86 330.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 342.68 330.60 Td (from ) Tj ET Q q 0 0 0 rg BT 364.61 330.60 Td (December ) Tj ET Q q 0 0 0 rg BT 408.20 330.60 Td (9, ) Tj ET Q q 0 0 0 rg BT 418.20 330.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 440.70 330.60 Td (to ) Tj ET Q q 0 0 0 rg BT 450.98 330.60 Td (December ) Tj ET Q q 0 0 0 rg BT 494.56 330.60 Td (9, ) Tj ET Q q 0 0 0 rg BT 504.56 330.60 Td (2021.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 306.60 Td (Issued ) Tj ET Q q 0 0 0 rg BT 95.77 306.60 Td ($450.0 ) Tj ET Q q 0 0 0 rg BT 125.98 306.60 Td (million ) Tj ET Q q 0 0 0 rg BT 157.59 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 168.63 306.60 Td (7�% ) Tj ET Q q 0 0 0 rg BT 192.18 306.60 Td (Senior ) Tj ET Q q 0 0 0 rg BT 221.00 306.60 Td (Secured ) Tj ET Q q 0 0 0 rg BT 255.92 306.60 Td (Second ) Tj ET Q q 0 0 0 rg BT 288.08 306.60 Td (Lien ) Tj ET Q q 0 0 0 rg BT 309.12 306.60 Td (Notes ) Tj ET Q q 0 0 0 rg BT 335.16 306.60 Td (due ) Tj ET Q q 0 0 0 rg BT 352.31 306.60 Td (2024 ) Tj ET Q q 0 0 0 rg BT 375.03 306.60 Td (in ) Tj ET Q q 0 0 0 rg BT 384.92 306.60 Td (August ) Tj ET Q q 0 0 0 rg BT 416.53 306.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 441.74 306.60 Td (with ) Tj ET Q q 0 0 0 rg BT 462.24 306.60 Td (a ) Tj ET Q q 0 0 0 rg BT 469.39 306.60 Td (portion ) Tj ET Q q 0 0 0 rg BT 500.99 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 512.04 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 526.97 306.60 Td (proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 294.60 Td (utilized ) Tj ET Q q 0 0 0 rg BT 99.99 294.60 Td (to ) Tj ET Q q 0 0 0 rg BT 110.27 294.60 Td (fully ) Tj ET Q q 0 0 0 rg BT 131.66 294.60 Td (repay ) Tj ET Q q 0 0 0 rg BT 156.36 294.60 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 205.53 294.60 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 253.58 294.60 Td (on ) Tj ET Q q 0 0 0 rg BT 266.08 294.60 Td (our ) Tj ET Q q 0 0 0 rg BT 281.91 294.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 308.85 294.60 Td (secured ) Tj ET Q q 0 0 0 rg BT 341.88 294.60 Td (bank ) Tj ET Q q 0 0 0 rg BT 363.82 294.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 389.09 294.60 Td (facility) Tj ET Q q 0 0 0 rg BT 416.76 294.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 270.60 Td (Improved ) Tj ET Q q 0 0 0 rg BT 109.59 270.60 Td (the ) Tj ET Q q 0 0 0 rg BT 125.02 270.60 Td (ratio ) Tj ET Q q 0 0 0 rg BT 146.56 270.60 Td (of ) Tj ET Q q 0 0 0 rg BT 158.11 270.60 Td (net ) Tj ET Q q 0 0 0 rg BT 173.54 270.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 193.97 270.60 Td (\(debt ) Tj ET Q q 0 0 0 rg BT 217.74 270.60 Td (principal ) Tj ET Q q 0 0 0 rg BT 256.49 270.60 Td (less ) Tj ET Q q 0 0 0 rg BT 274.71 270.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 295.69 270.60 Td (and ) Tj ET Q q 0 0 0 rg BT 313.35 270.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 334.33 270.60 Td (equivalents\) ) Tj ET Q q 0 0 0 rg BT 386.42 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 397.41 270.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 419.92 270.60 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 459.24 270.60 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 506.34 270.60 Td (\(a ) Tj ET Q q 0 0 0 rg BT 517.32 270.60 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 562.51 270.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 258.60 Td (measure\) ) Tj ET Q q 0 0 0 rg BT 105.66 258.60 Td (to ) Tj ET Q q 0 0 0 rg BT 114.94 258.60 Td (4.2x ) Tj ET Q q 0 0 0 rg BT 133.95 258.60 Td (\(including ) Tj ET Q q 0 0 0 rg BT 176.57 258.60 Td (hedge ) Tj ET Q q 0 0 0 rg BT 201.96 258.60 Td (settlements\) ) Tj ET Q q 0 0 0 rg BT 251.79 258.60 Td (and ) Tj ET Q q 0 0 0 rg BT 267.73 258.60 Td (3.3x ) Tj ET Q q 0 0 0 rg BT 286.75 258.60 Td (\(excluding ) Tj ET Q q 0 0 0 rg BT 331.02 258.60 Td (hedge ) Tj ET Q q 0 0 0 rg BT 356.41 258.60 Td (settlements\) ) Tj ET Q q 0 0 0 rg BT 406.24 258.60 Td (from ) Tj ET Q q 0 0 0 rg BT 427.19 258.60 Td (6.6x ) Tj ET Q q 0 0 0 rg BT 446.20 258.60 Td (\(including ) Tj ET Q q 0 0 0 rg BT 488.81 258.60 Td (hedge ) Tj ET Q q 0 0 0 rg BT 514.20 258.60 Td (settlements\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 84.29 246.60 Td (5.9x ) Tj ET Q q 0 0 0 rg BT 104.14 246.60 Td (\(excluding ) Tj ET Q q 0 0 0 rg BT 149.25 246.60 Td (hedge ) Tj ET Q q 0 0 0 rg BT 175.48 246.60 Td (settlements\) ) Tj ET Q q 0 0 0 rg BT 226.15 246.60 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 261.83 246.60 Td (the ) Tj ET Q q 0 0 0 rg BT 276.40 246.60 Td (comparable ) Tj ET Q q 0 0 0 rg BT 325.39 246.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 347.74 246.60 Td (measures ) Tj ET Q q 0 0 0 rg BT 387.29 246.60 Td (\(see ) Tj ET Q q 0 0 0 rg BT 405.74 246.60 Td (Item ) Tj ET Q q 0 0 0 rg BT 426.42 246.60 Td (1, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 436.27 246.60 Td (Business ) Tj ET Q q 0 0 0 rg BT 473.62 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 490.97 246.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 500.60 246.60 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.81 246.60 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 535.17 246.60 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.17 246.60 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 542.52 246.60 Td (Non-) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 234.60 Td (GAAP) Tj ET Q q 0 0 0 rg BT 92.87 234.60 Td ( ) Tj ET Q q 0 0 0 rg BT 95.37 234.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 136.75 234.60 Td (Measur) Tj ET Q q 0 0 0 rg BT 166.93 234.60 Td (es ) Tj ET Q q 0 0 0 rg BT 177.76 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 195.26 234.60 Td (Reconciliations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.47 234.60 Td (\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 222.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 210.60 Td (Reduced ) Tj ET Q q 0 0 0 rg BT 105.04 210.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 127.60 210.60 Td (general ) Tj ET Q q 0 0 0 rg BT 159.57 210.60 Td (and ) Tj ET Q q 0 0 0 rg BT 176.57 210.60 Td (administrative ) Tj ET Q q 0 0 0 rg BT 236.33 210.60 Td (expenses ) Tj ET Q q 0 0 0 rg BT 274.98 210.60 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.54 210.60 Td ($30.3 ) Tj ET Q q 0 0 0 rg BT 312.59 210.60 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.49 210.60 Td ( ) Tj ET Q q 0 0 0 rg BT 344.04 210.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.38 210.60 Td ($71.5 ) Tj ET Q q 0 0 0 rg BT 379.43 210.60 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.32 210.60 Td (, ) Tj ET Q q 0 0 0 rg BT 413.38 210.60 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.37 210.60 Td (30%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.70 210.60 Td ( ) Tj ET Q q 0 0 0 rg BT 441.26 210.60 Td (reduction ) Tj ET Q q 0 0 0 rg BT 481.57 210.60 Td (from ) Tj ET Q q 0 0 0 rg BT 503.57 210.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 526.12 210.60 Td (amounts, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 198.60 Td (reflective ) Tj ET Q q 0 0 0 rg BT 107.75 198.60 Td (of ) Tj ET Q q 0 0 0 rg BT 118.58 198.60 Td (our ) Tj ET Q q 0 0 0 rg BT 134.41 198.60 Td (reductions ) Tj ET Q q 0 0 0 rg BT 178.56 198.60 Td (in ) Tj ET Q q 0 0 0 rg BT 188.84 198.60 Td (personnel ) Tj ET Q q 0 0 0 rg BT 230.22 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 247.16 198.60 Td (our ) Tj ET Q q 0 0 0 rg BT 262.99 198.60 Td (ef) Tj ET Q q 0 0 0 rg BT 270.58 198.60 Td (forts ) Tj ET Q q 0 0 0 rg BT 291.41 198.60 Td (to ) Tj ET Q q 0 0 0 rg BT 301.68 198.60 Td (reduce ) Tj ET Q q 0 0 0 rg BT 330.83 198.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 353.33 198.60 Td (during ) Tj ET Q q 0 0 0 rg BT 381.94 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 396.66 198.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 409.71 198.60 Td (price ) Tj ET Q q 0 0 0 rg BT 432.20 198.60 Td (downturn.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 174.60 Td (Increased ) Tj ET Q q 0 0 0 rg BT 107.67 174.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 137.31 174.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 171.93 174.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.02 174.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 238.97 174.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.97 174.60 Td ( ) Tj ET Q q 0 0 0 rg BT 260.83 174.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.48 174.60 Td (262.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.98 174.60 Td ( ) Tj ET Q q 0 0 0 rg BT 294.85 174.60 Td (MMBOE, ) Tj ET Q q 0 0 0 rg BT 337.00 174.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.30 174.60 Td (259.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.80 174.60 Td ( ) Tj ET Q q 0 0 0 rg BT 382.67 174.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 422.32 174.60 Td (at ) Tj ET Q q 0 0 0 rg BT 431.40 174.60 Td (December ) Tj ET Q q 0 0 0 rg BT 474.35 174.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 488.72 174.60 Td (2017, ) Tj ET Q q 0 0 0 rg BT 513.08 174.60 Td (representing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 162.60 Td (a ) Tj ET Q q 0 0 0 rg BT 74.44 162.60 Td (1) Tj ET Q q 0 0 0 rg BT 79.07 162.60 Td (1) Tj ET Q q 0 0 0 rg BT 83.70 162.60 Td (1% ) Tj ET Q q 0 0 0 rg BT 99.53 162.60 Td (replacement ) Tj ET Q q 0 0 0 rg BT 150.88 162.60 Td (of ) Tj ET Q q 0 0 0 rg BT 161.71 162.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 184.21 162.60 Td (annual ) Tj ET Q q 0 0 0 rg BT 213.37 162.60 Td (production.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 72.00 138.60 Td (BUSINESS ) Tj ET Q q 0 0 0 rg BT 122.86 138.60 Td (OUTLOOK) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 114.60 Td (As ) Tj ET Q q 0 0 0 rg BT 81.43 114.60 Td (we ) Tj ET Q q 0 0 0 rg BT 95.91 114.60 Td (approached ) Tj ET Q q 0 0 0 rg BT 144.81 114.60 Td (the ) Tj ET Q q 0 0 0 rg BT 159.84 114.60 Td (end ) Tj ET Q q 0 0 0 rg BT 177.10 114.60 Td (of ) Tj ET Q q 0 0 0 rg BT 188.25 114.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 213.56 114.60 Td (we ) Tj ET Q q 0 0 0 rg BT 228.04 114.60 Td (experienced ) Tj ET Q q 0 0 0 rg BT 279.16 114.60 Td (another ) Tj ET Q q 0 0 0 rg BT 311.96 114.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 356.99 114.60 Td (downward ) Tj ET Q q 0 0 0 rg BT 402.02 114.60 Td (move ) Tj ET Q q 0 0 0 rg BT 427.06 114.60 Td (in ) Tj ET Q q 0 0 0 rg BT 437.65 114.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 451.03 114.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 480.22 114.60 Td (which ) Tj ET Q q 0 0 0 rg BT 507.48 114.60 Td (dropped ) Tj ET Q q 0 0 0 rg BT 543.06 114.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.60 Td (over ) Tj ET Q q 0 0 0 rg BT 70.08 102.60 Td ($76 ) Tj ET Q q 0 0 0 rg BT 87.89 102.60 Td (per ) Tj ET Q q 0 0 0 rg BT 103.47 102.60 Td (barrel ) Tj ET Q q 0 0 0 rg BT 129.60 102.60 Td (in ) Tj ET Q q 0 0 0 rg BT 140.19 102.60 Td (early ) Tj ET Q q 0 0 0 rg BT 162.99 102.60 Td (October ) Tj ET Q q 0 0 0 rg BT 198.01 102.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 220.82 102.60 Td (to ) Tj ET Q q 0 0 0 rg BT 231.41 102.60 Td (lows ) Tj ET Q q 0 0 0 rg BT 253.12 102.60 Td (in ) Tj ET Q q 0 0 0 rg BT 263.71 102.60 Td (the ) Tj ET Q q 0 0 0 rg BT 278.74 102.60 Td ($40 ) Tj ET Q q 0 0 0 rg BT 296.55 102.60 Td (per ) Tj ET Q q 0 0 0 rg BT 312.13 102.60 Td (barrel ) Tj ET Q q 0 0 0 rg BT 338.26 102.60 Td (range ) Tj ET Q q 0 0 0 rg BT 363.28 102.60 Td (by ) Tj ET Q q 0 0 0 rg BT 376.09 102.60 Td (the ) Tj ET Q q 0 0 0 rg BT 391.12 102.60 Td (end ) Tj ET Q q 0 0 0 rg BT 408.37 102.60 Td (of ) Tj ET Q q 0 0 0 rg BT 419.51 102.60 Td (2018. ) Tj ET Q q 0 0 0 rg BT 444.83 102.60 Td ( ) Tj ET Q q 0 0 0 rg BT 447.64 102.60 Td (In ) Tj ET Q q 0 0 0 rg BT 458.78 102.60 Td (light ) Tj ET Q q 0 0 0 rg BT 479.93 102.60 Td (of ) Tj ET Q q 0 0 0 rg BT 491.07 102.60 Td (this, ) Tj ET Q q 0 0 0 rg BT 510.83 102.60 Td (we ) Tj ET Q q 0 0 0 rg BT 525.31 102.60 Td (remained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.60 Td (diligent ) Tj ET Q q 0 0 0 rg BT 82.89 90.60 Td (in ) Tj ET Q q 0 0 0 rg BT 93.50 90.60 Td (determining ) Tj ET Q q 0 0 0 rg BT 144.66 90.60 Td (our ) Tj ET Q q 0 0 0 rg BT 160.83 90.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 190.32 90.60 Td (budget ) Tj ET Q q 0 0 0 rg BT 220.37 90.60 Td (for ) Tj ET Q q 0 0 0 rg BT 234.87 90.60 Td (2019, ) Tj ET Q q 0 0 0 rg BT 260.20 90.60 Td (exercising ) Tj ET Q q 0 0 0 rg BT 304.13 90.60 Td (the ) Tj ET Q q 0 0 0 rg BT 319.19 90.60 Td (flexibility ) Tj ET Q q 0 0 0 rg BT 361.46 90.60 Td (we ) Tj ET Q q 0 0 0 rg BT 375.96 90.60 Td (have ) Tj ET Q q 0 0 0 rg BT 397.67 90.60 Td (with ) Tj ET Q q 0 0 0 rg BT 418.29 90.60 Td (our ) Tj ET Q q 0 0 0 rg BT 434.46 90.60 Td (asset ) Tj ET Q q 0 0 0 rg BT 456.73 90.60 Td (base ) Tj ET Q q 0 0 0 rg BT 477.34 90.60 Td (and ) Tj ET Q q 0 0 0 rg BT 494.61 90.60 Td (focusing ) Tj ET Q q 0 0 0 rg BT 531.89 90.60 Td (on ) Tj ET Q q 0 0 0 rg BT 544.72 90.60 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.60 Td (short-term ) Tj ET Q q 0 0 0 rg BT 93.28 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 109.83 78.60 Td (long-term ) Tj ET Q q 0 0 0 rg BT 151.39 78.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 185.17 78.60 Td (that ) Tj ET Q q 0 0 0 rg BT 202.28 78.60 Td (maximize ) Tj ET Q q 0 0 0 rg BT 243.83 78.60 Td (value ) Tj ET Q q 0 0 0 rg BT 267.61 78.60 Td (while ) Tj ET Q q 0 0 0 rg BT 291.94 78.60 Td (meeting ) Tj ET Q q 0 0 0 rg BT 326.28 78.60 Td (one ) Tj ET Q q 0 0 0 rg BT 342.83 78.60 Td (of ) Tj ET Q q 0 0 0 rg BT 353.29 78.60 Td (our ) Tj ET Q q 0 0 0 rg BT 368.74 78.60 Td (key ) Tj ET Q q 0 0 0 rg BT 385.30 78.60 Td (objectives ) Tj ET Q q 0 0 0 rg BT 427.96 78.60 Td (of ) Tj ET Q q 0 0 0 rg BT 438.41 78.60 Td (spending ) Tj ET Q q 0 0 0 rg BT 476.64 78.60 Td (within ) Tj ET Q q 0 0 0 rg BT 504.31 78.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 524.20 78.60 Td (flow) Tj ET Q q 0 0 0 rg BT 541.88 78.60 Td (. ) Tj ET Q q 0 0 0 rg BT 546.51 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 548.63 78.60 Td (For ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.60 Td (2019, ) Tj ET Q q 0 0 0 rg BT 74.18 66.60 Td (we ) Tj ET Q q 0 0 0 rg BT 88.02 66.60 Td (have ) Tj ET Q q 0 0 0 rg BT 109.07 66.60 Td (initially ) Tj ET Q q 0 0 0 rg BT 142.36 66.60 Td (budgeted ) Tj ET Q q 0 0 0 rg BT 181.19 66.60 Td (our ) Tj ET Q q 0 0 0 rg BT 196.70 66.60 Td (development ) Tj ET Q q 0 0 0 rg BT 250.53 66.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 279.35 66.60 Td (spending ) Tj ET Q q 0 0 0 rg BT 317.64 66.60 Td (at ) Tj ET Q q 0 0 0 rg BT 327.03 66.60 Td ($240 ) Tj ET Q q 0 0 0 rg BT 349.21 66.60 Td (million ) Tj ET Q q 0 0 0 rg BT 380.28 66.60 Td (to ) Tj ET Q q 0 0 0 rg BT 390.24 66.60 Td ($260 ) Tj ET Q q 0 0 0 rg BT 412.42 66.60 Td (million, ) Tj ET Q q 0 0 0 rg BT 445.98 66.60 Td (excluding ) Tj ET Q q 0 0 0 rg BT 487.60 66.60 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 533.08 66.60 Td (interest ) Tj ET Q endstream endobj 15 0 obj <> endobj 16 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 30.60 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.54 726.60 Td (acquisitions, ) Tj ET Q q 0 0 0 rg BT 119.41 726.60 Td (a ) Tj ET Q q 0 0 0 rg BT 126.44 726.60 Td (decrease ) Tj ET Q q 0 0 0 rg BT 163.45 726.60 Td (of ) Tj ET Q q 0 0 0 rg BT 174.38 726.60 Td (roughly ) Tj ET Q q 0 0 0 rg BT 208.08 726.60 Td (23% ) Tj ET Q q 0 0 0 rg BT 229.01 726.60 Td (from ) Tj ET Q q 0 0 0 rg BT 251.04 726.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 273.64 726.60 Td (actual ) Tj ET Q q 0 0 0 rg BT 300.11 726.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 329.36 726.60 Td (spending ) Tj ET Q q 0 0 0 rg BT 368.06 726.60 Td (levels. ) Tj ET Q q 0 0 0 rg BT 396.48 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 398.89 726.60 Td (W) Tj ET Q q 0 0 0 rg BT 407.53 726.60 Td (e ) Tj ET Q q 0 0 0 rg BT 414.57 726.60 Td (utilized ) Tj ET Q q 0 0 0 rg BT 447.15 726.60 Td (a ) Tj ET Q q 0 0 0 rg BT 454.19 726.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 493.45 726.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 506.60 726.60 Td (price ) Tj ET Q q 0 0 0 rg BT 529.19 726.60 Td (estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (of ) Tj ET Q q 0 0 0 rg BT 60.64 714.60 Td ($50 ) Tj ET Q q 0 0 0 rg BT 78.45 714.60 Td (per ) Tj ET Q q 0 0 0 rg BT 94.02 714.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 111.28 714.60 Td (in ) Tj ET Q q 0 0 0 rg BT 121.86 714.60 Td (developing ) Tj ET Q q 0 0 0 rg BT 169.10 714.60 Td (our ) Tj ET Q q 0 0 0 rg BT 185.24 714.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 208.05 714.60 Td (budget, ) Tj ET Q q 0 0 0 rg BT 240.57 714.60 Td (which ) Tj ET Q q 0 0 0 rg BT 267.82 714.60 Td (based ) Tj ET Q q 0 0 0 rg BT 293.40 714.60 Td (on ) Tj ET Q q 0 0 0 rg BT 306.20 714.60 Td (our ) Tj ET Q q 0 0 0 rg BT 322.34 714.60 Td (current ) Tj ET Q q 0 0 0 rg BT 353.46 714.60 Td (projections ) Tj ET Q q 0 0 0 rg BT 400.71 714.60 Td (would ) Tj ET Q q 0 0 0 rg BT 428.51 714.60 Td (generate ) Tj ET Q q 0 0 0 rg BT 465.18 714.60 Td (a ) Tj ET Q q 0 0 0 rg BT 472.43 714.60 Td (level ) Tj ET Q q 0 0 0 rg BT 494.67 714.60 Td (of ) Tj ET Q q 0 0 0 rg BT 505.81 714.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 526.38 714.60 Td (flow ) Tj ET Q q 0 0 0 rg BT 547.52 714.60 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.60 Td (would ) Tj ET Q q 0 0 0 rg BT 76.45 702.60 Td (more ) Tj ET Q q 0 0 0 rg BT 98.94 702.60 Td (than ) Tj ET Q q 0 0 0 rg BT 118.11 702.60 Td (fully ) Tj ET Q q 0 0 0 rg BT 138.94 702.60 Td (fund ) Tj ET Q q 0 0 0 rg BT 159.22 702.60 Td (our ) Tj ET Q q 0 0 0 rg BT 174.50 702.60 Td (development ) Tj ET Q q 0 0 0 rg BT 228.10 702.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 256.70 702.60 Td (spending ) Tj ET Q q 0 0 0 rg BT 294.75 702.60 Td (plans, ) Tj ET Q q 0 0 0 rg BT 320.31 702.60 Td (with ) Tj ET Q q 0 0 0 rg BT 340.04 702.60 Td (any ) Tj ET Q q 0 0 0 rg BT 356.42 702.60 Td (excess ) Tj ET Q q 0 0 0 rg BT 384.47 702.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 404.19 702.60 Td (flow ) Tj ET Q q 0 0 0 rg BT 424.47 702.60 Td (potentially ) Tj ET Q q 0 0 0 rg BT 469.18 702.60 Td (used ) Tj ET Q q 0 0 0 rg BT 489.46 702.60 Td (for ) Tj ET Q q 0 0 0 rg BT 503.07 702.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 522.23 702.60 Td (reduction, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.60 Td (acquisitions, ) Tj ET Q q 0 0 0 rg BT 101.09 690.60 Td (and/or ) Tj ET Q q 0 0 0 rg BT 127.95 690.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 169.25 690.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 197.21 690.60 Td (spending, ) Tj ET Q q 0 0 0 rg BT 237.14 690.60 Td (among ) Tj ET Q q 0 0 0 rg BT 265.67 690.60 Td (other ) Tj ET Q q 0 0 0 rg BT 287.53 690.60 Td (things. ) Tj ET Q q 0 0 0 rg BT 315.79 690.60 Td ( ) Tj ET Q q 0 0 0 rg BT 316.81 690.60 Td (At ) Tj ET Q q 0 0 0 rg BT 328.13 690.60 Td (this ) Tj ET Q q 0 0 0 rg BT 343.89 690.60 Td (decreased ) Tj ET Q q 0 0 0 rg BT 384.62 690.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 412.58 690.60 Td (spending ) Tj ET Q q 0 0 0 rg BT 450.00 690.60 Td (level, ) Tj ET Q q 0 0 0 rg BT 473.25 690.60 Td (we ) Tj ET Q q 0 0 0 rg BT 486.22 690.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 523.63 690.60 Td (anticipate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 72.19 678.60 Td (average ) Tj ET Q q 0 0 0 rg BT 105.97 678.60 Td (daily ) Tj ET Q q 0 0 0 rg BT 128.65 678.60 Td (production ) Tj ET Q q 0 0 0 rg BT 174.67 678.60 Td (to ) Tj ET Q q 0 0 0 rg BT 185.14 678.60 Td (average ) Tj ET Q q 0 0 0 rg BT 218.92 678.60 Td (between ) Tj ET Q q 0 0 0 rg BT 254.93 678.60 Td (56,000 ) Tj ET Q q 0 0 0 rg BT 285.12 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 302.25 678.60 Td (60,000 ) Tj ET Q q 0 0 0 rg BT 332.44 678.60 Td (BOE/d, ) Tj ET Q q 0 0 0 rg BT 365.41 678.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 407.53 678.60 Td (to ) Tj ET Q q 0 0 0 rg BT 418.00 678.60 Td (our ) Tj ET Q q 0 0 0 rg BT 434.02 678.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 456.71 678.60 Td (average ) Tj ET Q q 0 0 0 rg BT 490.49 678.60 Td (production ) Tj ET Q q 0 0 0 rg BT 536.50 678.60 Td (rate ) Tj ET Q q 0 0 0 rg BT 554.18 678.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (60,341) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.00 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 79.50 666.60 Td (BOE/d.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 642.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.95 642.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 115.50 642.60 Td (spending ) Tj ET Q q 0 0 0 rg BT 154.51 642.60 Td (during ) Tj ET Q q 0 0 0 rg BT 183.52 642.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 206.42 642.60 Td (will ) Tj ET Q q 0 0 0 rg BT 224.88 642.60 Td (focus ) Tj ET Q q 0 0 0 rg BT 249.44 642.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 289.55 642.60 Td (on ) Tj ET Q q 0 0 0 rg BT 302.45 642.60 Td (the ) Tj ET Q q 0 0 0 rg BT 317.57 642.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 359.90 642.60 Td (development ) Tj ET Q q 0 0 0 rg BT 414.45 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 425.68 642.60 Td (our ) Tj ET Q q 0 0 0 rg BT 441.91 642.60 Td (current ) Tj ET Q q 0 0 0 rg BT 473.13 642.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 504.90 642.60 Td (floods, ) Tj ET Q q 0 0 0 rg BT 535.30 642.60 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 99.21 630.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 132.80 630.60 Td (within ) Tj ET Q q 0 0 0 rg BT 160.30 630.60 Td (our ) Tj ET Q q 0 0 0 rg BT 175.56 630.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 209.17 630.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 233.32 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 249.70 630.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 309.40 630.60 Td ($30 ) Tj ET Q q 0 0 0 rg BT 326.34 630.60 Td (million ) Tj ET Q q 0 0 0 rg BT 357.17 630.60 Td (of ) Tj ET Q q 0 0 0 rg BT 367.43 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 381.59 630.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 399.64 630.60 Td (for ) Tj ET Q q 0 0 0 rg BT 413.24 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 427.39 630.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 441.28 629.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.53 630.60 Td ( ) Tj ET Q q 0 0 0 rg BT 446.47 630.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 480.62 630.60 Td (needed ) Tj ET Q q 0 0 0 rg BT 510.87 630.60 Td (for ) Tj ET Q q 0 0 0 rg BT 524.47 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 538.63 630.60 Td (Cedar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 75.55 618.60 Td (Anticline ) Tj ET Q q 0 0 0 rg BT 115.55 618.60 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 156.09 618.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 169.43 618.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 207.20 618.60 Td (project. ) Tj ET Q q 0 0 0 rg BT 240.25 618.60 Td ( ) Tj ET Q q 0 0 0 rg BT 243.03 618.60 Td (Planned ) Tj ET Q q 0 0 0 rg BT 278.04 618.60 Td (development ) Tj ET Q q 0 0 0 rg BT 332.47 618.60 Td (activities ) Tj ET Q q 0 0 0 rg BT 371.36 618.60 Td (presented ) Tj ET Q q 0 0 0 rg BT 412.46 618.60 Td (in ) Tj ET Q q 0 0 0 rg BT 423.03 618.60 Td (the ) Tj ET Q q 0 0 0 rg BT 438.03 618.60 Td (discussions ) Tj ET Q q 0 0 0 rg BT 486.38 618.60 Td (that ) Tj ET Q q 0 0 0 rg BT 504.16 618.60 Td (follow ) Tj ET Q q 0 0 0 rg BT 533.06 618.60 Td (may ) Tj ET Q q 0 0 0 rg BT 553.06 618.60 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (modified ) Tj ET Q q 0 0 0 rg BT 87.80 606.60 Td (during ) Tj ET Q q 0 0 0 rg BT 116.11 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 130.53 606.60 Td (course ) Tj ET Q q 0 0 0 rg BT 158.83 606.60 Td (of ) Tj ET Q q 0 0 0 rg BT 169.36 606.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 191.56 606.60 Td (depending ) Tj ET Q q 0 0 0 rg BT 235.41 606.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 274.82 606.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 297.02 606.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 309.78 606.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 335.85 606.60 Td (and ) Tj ET Q q 0 0 0 rg BT 352.49 606.60 Td (our ) Tj ET Q q 0 0 0 rg BT 368.02 606.60 Td (level ) Tj ET Q q 0 0 0 rg BT 389.66 606.60 Td (of ) Tj ET Q q 0 0 0 rg BT 400.19 606.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 420.15 606.60 Td (flow ) Tj ET Q q 0 0 0 rg BT 440.68 606.60 Td (to ) Tj ET Q q 0 0 0 rg BT 450.66 606.60 Td (fund ) Tj ET Q q 0 0 0 rg BT 471.19 606.60 Td (such ) Tj ET Q q 0 0 0 rg BT 491.72 606.60 Td (development, ) Tj ET Q q 0 0 0 rg BT 548.07 606.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (we ) Tj ET Q q 0 0 0 rg BT 62.49 594.60 Td (will ) Tj ET Q q 0 0 0 rg BT 79.38 594.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 115.15 594.60 Td (to ) Tj ET Q q 0 0 0 rg BT 124.26 594.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 158.90 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 172.45 594.60 Td (timing ) Tj ET Q q 0 0 0 rg BT 199.90 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 209.56 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 223.11 594.60 Td (development ) Tj ET Q q 0 0 0 rg BT 276.10 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 285.76 594.60 Td (our ) Tj ET Q q 0 0 0 rg BT 300.42 594.60 Td (inventory ) Tj ET Q q 0 0 0 rg BT 340.08 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 349.74 594.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 373.29 594.60 Td (and ) Tj ET Q q 0 0 0 rg BT 389.07 594.60 Td (related ) Tj ET Q q 0 0 0 rg BT 417.60 594.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 455.04 594.60 Td (and ) Tj ET Q q 0 0 0 rg BT 470.81 594.60 Td (facilities. ) Tj ET Q q 0 0 0 rg BT 509.07 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 510.11 594.60 Td (Additionally) Tj ET Q q 0 0 0 rg BT 560.01 594.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (we ) Tj ET Q q 0 0 0 rg BT 63.68 582.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 83.42 582.60 Td (to ) Tj ET Q q 0 0 0 rg BT 93.71 582.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 130.67 582.60 Td (our ) Tj ET Q q 0 0 0 rg BT 146.52 582.60 Td (focus ) Tj ET Q q 0 0 0 rg BT 170.70 582.60 Td (on ) Tj ET Q q 0 0 0 rg BT 183.22 582.60 Td (strengthening ) Tj ET Q q 0 0 0 rg BT 240.17 582.60 Td (our ) Tj ET Q q 0 0 0 rg BT 256.02 582.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 293.52 582.60 Td (condition ) Tj ET Q q 0 0 0 rg BT 333.81 582.60 Td (by ) Tj ET Q q 0 0 0 rg BT 346.33 582.60 Td (opportunistically ) Tj ET Q q 0 0 0 rg BT 416.62 582.60 Td (taking ) Tj ET Q q 0 0 0 rg BT 444.13 582.60 Td (steps ) Tj ET Q q 0 0 0 rg BT 466.65 582.60 Td (to ) Tj ET Q q 0 0 0 rg BT 476.95 582.60 Td (reduce ) Tj ET Q q 0 0 0 rg BT 506.12 582.60 Td (our ) Tj ET Q q 0 0 0 rg BT 521.97 582.60 Td (remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 69.31 570.60 Td (levels ) Tj ET Q q 0 0 0 rg BT 95.23 570.60 Td (and/or ) Tj ET Q q 0 0 0 rg BT 123.37 570.60 Td (extend ) Tj ET Q q 0 0 0 rg BT 152.63 570.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 172.44 570.60 Td (maturities, ) Tj ET Q q 0 0 0 rg BT 217.52 570.60 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 267.89 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 284.92 570.60 Td (enhancing ) Tj ET Q q 0 0 0 rg BT 328.61 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 343.42 570.60 Td (ef) Tj ET Q q 0 0 0 rg BT 351.01 570.60 Td (ficiencies ) Tj ET Q q 0 0 0 rg BT 391.91 570.60 Td (achieved ) Tj ET Q q 0 0 0 rg BT 430.04 570.60 Td (over ) Tj ET Q q 0 0 0 rg BT 450.41 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 465.22 570.60 Td (last ) Tj ET Q q 0 0 0 rg BT 481.70 570.60 Td (couple ) Tj ET Q q 0 0 0 rg BT 510.95 570.60 Td (of ) Tj ET Q q 0 0 0 rg BT 521.88 570.60 Td (years, ) Tj ET Q q 0 0 0 rg BT 548.07 570.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (pursuing ) Tj ET Q q 0 0 0 rg BT 87.00 558.60 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 142.27 558.60 Td (to ) Tj ET Q q 0 0 0 rg BT 152.55 558.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 187.81 558.60 Td (or ) Tj ET Q q 0 0 0 rg BT 198.64 558.60 Td (accelerate ) Tj ET Q q 0 0 0 rg BT 241.09 558.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 271.92 558.60 Td (through ) Tj ET Q q 0 0 0 rg BT 305.53 558.60 Td (or) Tj ET Q q 0 0 0 rg BT 313.68 558.60 Td (ganic ) Tj ET Q q 0 0 0 rg BT 337.83 558.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 371.99 558.60 Td (such ) Tj ET Q q 0 0 0 rg BT 392.82 558.60 Td (as ) Tj ET Q q 0 0 0 rg BT 403.65 558.60 Td (accretive ) Tj ET Q q 0 0 0 rg BT 442.23 558.60 Td (acquisitions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 534.60 Td (Along ) Tj ET Q q 0 0 0 rg BT 95.32 534.60 Td (with ) Tj ET Q q 0 0 0 rg BT 115.92 534.60 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 153.68 534.60 Td (s ) Tj ET Q q 0 0 0 rg BT 160.40 534.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 183.21 534.60 Td (development ) Tj ET Q q 0 0 0 rg BT 237.68 534.60 Td (plans, ) Tj ET Q q 0 0 0 rg BT 264.11 534.60 Td (we ) Tj ET Q q 0 0 0 rg BT 278.59 534.60 Td (are ) Tj ET Q q 0 0 0 rg BT 293.62 534.60 Td (continuing ) Tj ET Q q 0 0 0 rg BT 339.21 534.60 Td (to ) Tj ET Q q 0 0 0 rg BT 349.80 534.60 Td (market ) Tj ET Q q 0 0 0 rg BT 380.39 534.60 Td (for ) Tj ET Q q 0 0 0 rg BT 394.87 534.60 Td (sale ) Tj ET Q q 0 0 0 rg BT 413.23 534.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 473.81 534.60 Td (4,000 ) Tj ET Q q 0 0 0 rg BT 499.13 534.60 Td (acres ) Tj ET Q q 0 0 0 rg BT 522.48 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 533.63 534.60 Td (surface ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (land ) Tj ET Q q 0 0 0 rg BT 69.40 522.60 Td (with ) Tj ET Q q 0 0 0 rg BT 89.86 522.60 Td (no ) Tj ET Q q 0 0 0 rg BT 102.54 522.60 Td (active ) Tj ET Q q 0 0 0 rg BT 129.09 522.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 142.33 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 159.45 522.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 175.46 522.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 219.79 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 230.25 522.60 Td (the ) Tj ET Q q 0 0 0 rg BT 245.15 522.60 Td (Houston ) Tj ET Q q 0 0 0 rg BT 281.72 522.60 Td (area. ) Tj ET Q q 0 0 0 rg BT 303.55 522.60 Td ( ) Tj ET Q q 0 0 0 rg BT 306.03 522.60 Td (W) Tj ET Q q 0 0 0 rg BT 314.67 522.60 Td (e ) Tj ET Q q 0 0 0 rg BT 321.79 522.60 Td (remain ) Tj ET Q q 0 0 0 rg BT 352.24 522.60 Td (focused ) Tj ET Q q 0 0 0 rg BT 386.02 522.60 Td (on ) Tj ET Q q 0 0 0 rg BT 398.70 522.60 Td (a ) Tj ET Q q 0 0 0 rg BT 405.81 522.60 Td (strategy ) Tj ET Q q 0 0 0 rg BT 440.15 522.60 Td (that ) Tj ET Q q 0 0 0 rg BT 457.83 522.60 Td (we ) Tj ET Q q 0 0 0 rg BT 472.17 522.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 503.72 522.60 Td (will ) Tj ET Q q 0 0 0 rg BT 521.96 522.60 Td (ultimately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (yield ) Tj ET Q q 0 0 0 rg BT 72.08 510.60 Td (the ) Tj ET Q q 0 0 0 rg BT 86.88 510.60 Td (highest ) Tj ET Q q 0 0 0 rg BT 118.35 510.60 Td (value ) Tj ET Q q 0 0 0 rg BT 142.59 510.60 Td (for ) Tj ET Q q 0 0 0 rg BT 156.83 510.60 Td (the ) Tj ET Q q 0 0 0 rg BT 171.63 510.60 Td (land, ) Tj ET Q q 0 0 0 rg BT 193.93 510.60 Td (and ) Tj ET Q q 0 0 0 rg BT 210.95 510.60 Td (we ) Tj ET Q q 0 0 0 rg BT 225.19 510.60 Td (expect ) Tj ET Q q 0 0 0 rg BT 253.87 510.60 Td (most ) Tj ET Q q 0 0 0 rg BT 275.90 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 286.81 510.60 Td (that ) Tj ET Q q 0 0 0 rg BT 304.39 510.60 Td (value ) Tj ET Q q 0 0 0 rg BT 328.63 510.60 Td (to ) Tj ET Q q 0 0 0 rg BT 338.99 510.60 Td (be ) Tj ET Q q 0 0 0 rg BT 351.01 510.60 Td (realized ) Tj ET Q q 0 0 0 rg BT 385.24 510.60 Td (over ) Tj ET Q q 0 0 0 rg BT 405.59 510.60 Td (the ) Tj ET Q q 0 0 0 rg BT 420.39 510.60 Td (next ) Tj ET Q q 0 0 0 rg BT 440.19 510.60 Td (couple ) Tj ET Q q 0 0 0 rg BT 469.43 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 480.34 510.60 Td (years. ) Tj ET Q q 0 0 0 rg BT 506.52 510.60 Td ( ) Tj ET Q q 0 0 0 rg BT 509.10 510.60 Td (During ) Tj ET Q q 0 0 0 rg BT 540.02 510.60 Td (2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (we ) Tj ET Q q 0 0 0 rg BT 63.76 498.60 Td (consummated ) Tj ET Q q 0 0 0 rg BT 121.91 498.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 182.27 498.60 Td ($5 ) Tj ET Q q 0 0 0 rg BT 194.88 498.60 Td (million ) Tj ET Q q 0 0 0 rg BT 226.37 498.60 Td (of ) Tj ET Q q 0 0 0 rg BT 237.31 498.60 Td (land ) Tj ET Q q 0 0 0 rg BT 257.13 498.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 279.17 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 296.21 498.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 334.91 498.60 Td (have ) Tj ET Q q 0 0 0 rg BT 356.39 498.60 Td (signed ) Tj ET Q q 0 0 0 rg BT 385.10 498.60 Td (agreements ) Tj ET Q q 0 0 0 rg BT 433.24 498.60 Td (covering ) Tj ET Q q 0 0 0 rg BT 470.83 498.60 Td (another ) Tj ET Q q 0 0 0 rg BT 503.42 498.60 Td ($9 ) Tj ET Q q 0 0 0 rg BT 516.02 498.60 Td (million ) Tj ET Q q 0 0 0 rg BT 547.52 498.60 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (we ) Tj ET Q q 0 0 0 rg BT 62.72 486.60 Td (expect ) Tj ET Q q 0 0 0 rg BT 90.37 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 99.71 486.60 Td (close ) Tj ET Q q 0 0 0 rg BT 121.81 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 131.15 486.60 Td (2019. ) Tj ET Q q 0 0 0 rg BT 155.20 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 156.76 486.60 Td (In ) Tj ET Q q 0 0 0 rg BT 166.65 486.60 Td (early ) Tj ET Q q 0 0 0 rg BT 188.19 486.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 212.25 486.60 Td (we ) Tj ET Q q 0 0 0 rg BT 225.47 486.60 Td (began ) Tj ET Q q 0 0 0 rg BT 250.90 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 264.68 486.60 Td (process ) Tj ET Q q 0 0 0 rg BT 296.22 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 306.11 486.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 342.66 486.60 Td (optimization ) Tj ET Q q 0 0 0 rg BT 394.77 486.60 Td (through ) Tj ET Q q 0 0 0 rg BT 427.43 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 441.21 486.60 Td (marketing ) Tj ET Q q 0 0 0 rg BT 483.31 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 493.20 486.60 Td (mature ) Tj ET Q q 0 0 0 rg BT 522.52 486.60 Td (properties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (located ) Tj ET Q q 0 0 0 rg BT 80.89 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 91.19 474.60 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 139.28 474.60 Td (and ) Tj ET Q q 0 0 0 rg BT 156.23 474.60 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 198.19 474.60 Td (and ) Tj ET Q q 0 0 0 rg BT 215.14 474.60 Td (Citronelle ) Tj ET Q q 0 0 0 rg BT 257.65 474.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 280.73 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 290.47 474.60 Td (Alabama, ) Tj ET Q q 0 0 0 rg BT 331.58 474.60 Td (and ) Tj ET Q q 0 0 0 rg BT 348.54 474.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 392.71 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 407.44 474.60 Td (sale ) Tj ET Q q 0 0 0 rg BT 425.51 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 436.36 474.60 Td (Lockhart ) Tj ET Q q 0 0 0 rg BT 474.97 474.60 Td (Crossing ) Tj ET Q q 0 0 0 rg BT 513.05 474.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 536.12 474.60 Td (for ) Tj ET Q q 0 0 0 rg BT 550.30 474.60 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 87.30 462.60 Td (of ) Tj ET Q q 0 0 0 rg BT 97.89 462.60 Td ($4.1 ) Tj ET Q q 0 0 0 rg BT 117.65 462.60 Td (million ) Tj ET Q q 0 0 0 rg BT 148.81 462.60 Td (during ) Tj ET Q q 0 0 0 rg BT 177.18 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 191.66 462.60 Td (third ) Tj ET Q q 0 0 0 rg BT 212.81 462.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 243.38 462.60 Td (of ) Tj ET Q q 0 0 0 rg BT 253.98 462.60 Td (2018. ) Tj ET Q q 0 0 0 rg BT 278.74 462.60 Td ( ) Tj ET Q q 0 0 0 rg BT 280.84 462.60 Td (The ) Tj ET Q q 0 0 0 rg BT 298.65 462.60 Td (decline ) Tj ET Q q 0 0 0 rg BT 329.78 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 339.82 462.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 352.64 462.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 378.78 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 395.48 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 411.07 462.60 Td (focus ) Tj ET Q q 0 0 0 rg BT 434.99 462.60 Td (on ) Tj ET Q q 0 0 0 rg BT 447.26 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 461.74 462.60 Td (Penn ) Tj ET Q q 0 0 0 rg BT 483.83 462.60 Td (V) Tj ET Q q 0 0 0 rg BT 490.46 462.60 Td (ir) Tj ET Q q 0 0 0 rg BT 496.38 462.60 Td (ginia ) Tj ET Q q 0 0 0 rg BT 518.64 462.60 Td (transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (stalled ) Tj ET Q q 0 0 0 rg BT 78.60 450.60 Td (our ) Tj ET Q q 0 0 0 rg BT 94.93 450.60 Td (process ) Tj ET Q q 0 0 0 rg BT 127.92 450.60 Td (in ) Tj ET Q q 0 0 0 rg BT 138.69 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 153.91 450.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 181.35 450.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 212.66 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 223.99 450.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 249.49 450.60 Td (but ) Tj ET Q q 0 0 0 rg BT 265.26 450.60 Td (we ) Tj ET Q q 0 0 0 rg BT 279.92 450.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 300.13 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 310.91 450.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 348.34 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 359.12 450.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 395.43 450.60 Td (our ) Tj ET Q q 0 0 0 rg BT 411.76 450.60 Td (options ) Tj ET Q q 0 0 0 rg BT 444.20 450.60 Td (with ) Tj ET Q q 0 0 0 rg BT 464.98 450.60 Td (these ) Tj ET Q q 0 0 0 rg BT 488.52 450.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 513.74 450.60 Td (as ) Tj ET Q q 0 0 0 rg BT 525.07 450.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 538.62 450.60 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.60 Td (improve. ) Tj ET Q q 0 0 0 rg BT 88.35 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 91.37 438.60 Td (In ) Tj ET Q q 0 0 0 rg BT 102.72 438.60 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 147.10 438.60 Td (these ) Tj ET Q q 0 0 0 rg BT 170.66 438.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 195.90 438.60 Td (produced ) Tj ET Q q 0 0 0 rg BT 236.13 438.60 Td (an ) Tj ET Q q 0 0 0 rg BT 248.59 438.60 Td (average ) Tj ET Q q 0 0 0 rg BT 282.69 438.60 Td (of ) Tj ET Q q 0 0 0 rg BT 294.04 438.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 354.82 438.60 Td (7,228 ) Tj ET Q q 0 0 0 rg BT 380.34 438.60 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 411.14 438.60 Td (during ) Tj ET Q q 0 0 0 rg BT 440.27 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 455.50 438.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 482.96 438.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 514.30 438.60 Td (of ) Tj ET Q q 0 0 0 rg BT 525.65 438.60 Td (2018. ) Tj ET Q q 0 0 0 rg BT 551.17 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 554.19 438.60 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 93.36 426.60 Td (these ) Tj ET Q q 0 0 0 rg BT 116.41 426.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 141.13 426.60 Td (accounted ) Tj ET Q q 0 0 0 rg BT 184.16 426.60 Td (for ) Tj ET Q q 0 0 0 rg BT 198.32 426.60 Td (12% ) Tj ET Q q 0 0 0 rg BT 219.15 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 229.98 426.60 Td (our ) Tj ET Q q 0 0 0 rg BT 245.81 426.60 Td (total ) Tj ET Q q 0 0 0 rg BT 266.08 426.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 288.58 426.60 Td (production ) Tj ET Q q 0 0 0 rg BT 334.41 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 351.35 426.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 411.60 426.60 Td (8% ) Tj ET Q q 0 0 0 rg BT 427.43 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 438.26 426.60 Td (our ) Tj ET Q q 0 0 0 rg BT 454.09 426.60 Td (year) Tj ET Q q 0 0 0 rg BT 471.10 426.60 Td (-end ) Tj ET Q q 0 0 0 rg BT 491.37 426.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 521.64 426.60 Td (reserves.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.60 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 402.60 Td (e ) Tj ET Q q 0 0 0 rg BT 84.16 402.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 116.61 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 132.41 402.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 179.88 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 191.79 402.60 Td (Penn ) Tj ET Q q 0 0 0 rg BT 215.12 402.60 Td (V) Tj ET Q q 0 0 0 rg BT 221.74 402.60 Td (ir) Tj ET Q q 0 0 0 rg BT 227.66 402.60 Td (ginia ) Tj ET Q q 0 0 0 rg BT 251.24 402.60 Td (would ) Tj ET Q q 0 0 0 rg BT 279.83 402.60 Td (enhance ) Tj ET Q q 0 0 0 rg BT 316.16 402.60 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 353.93 402.60 Td (s ) Tj ET Q q 0 0 0 rg BT 361.41 402.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 402.75 402.60 Td (results ) Tj ET Q q 0 0 0 rg BT 432.44 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 450.47 402.60 Td (balance ) Tj ET Q q 0 0 0 rg BT 484.58 402.60 Td (sheet ) Tj ET Q q 0 0 0 rg BT 508.71 402.60 Td (by ) Tj ET Q q 0 0 0 rg BT 522.29 402.60 Td (creating ) Tj ET Q q 0 0 0 rg BT 558.08 402.60 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (combination ) Tj ET Q q 0 0 0 rg BT 101.86 390.60 Td (of ) Tj ET Q q 0 0 0 rg BT 112.56 390.60 Td (short-cycle ) Tj ET Q q 0 0 0 rg BT 159.36 390.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 205.61 390.60 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 260.75 390.60 Td (in ) Tj ET Q q 0 0 0 rg BT 270.90 390.60 Td (Penn ) Tj ET Q q 0 0 0 rg BT 293.10 390.60 Td (V) Tj ET Q q 0 0 0 rg BT 299.72 390.60 Td (ir) Tj ET Q q 0 0 0 rg BT 305.65 390.60 Td (ginia�) Tj ET Q q 0 0 0 rg BT 328.42 390.60 Td (s ) Tj ET Q q 0 0 0 rg BT 334.69 390.60 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 359.82 390.60 Td (Ford ) Tj ET Q q 0 0 0 rg BT 381.08 390.60 Td (Shale ) Tj ET Q q 0 0 0 rg BT 405.67 390.60 Td (acreage ) Tj ET Q q 0 0 0 rg BT 438.56 390.60 Td (and ) Tj ET Q q 0 0 0 rg BT 455.37 390.60 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 493.14 390.60 Td (s ) Tj ET Q q 0 0 0 rg BT 499.40 390.60 Td (lower) Tj ET Q q 0 0 0 rg BT 521.97 390.60 Td (-declining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 71.73 378.60 Td (focused ) Tj ET Q q 0 0 0 rg BT 105.05 378.60 Td (asset ) Tj ET Q q 0 0 0 rg BT 126.72 378.60 Td (base, ) Tj ET Q q 0 0 0 rg BT 149.21 378.60 Td (with ) Tj ET Q q 0 0 0 rg BT 169.22 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 183.66 378.60 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 232.55 378.60 Td (to ) Tj ET Q q 0 0 0 rg BT 242.56 378.60 Td (apply ) Tj ET Q q 0 0 0 rg BT 267.00 378.60 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 304.77 378.60 Td (s ) Tj ET Q q 0 0 0 rg BT 310.89 378.60 Td (technical ) Tj ET Q q 0 0 0 rg BT 349.20 378.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 371.43 378.60 Td (knowledge ) Tj ET Q q 0 0 0 rg BT 417.53 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 434.20 378.60 Td (capabilities ) Tj ET Q q 0 0 0 rg BT 481.96 378.60 Td (to ) Tj ET Q q 0 0 0 rg BT 491.97 378.60 Td (enhance ) Tj ET Q q 0 0 0 rg BT 526.95 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 541.39 378.60 Td (long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (term ) Tj ET Q q 0 0 0 rg BT 70.86 366.60 Td (development ) Tj ET Q q 0 0 0 rg BT 125.55 366.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 163.57 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 174.94 366.60 Td (Penn ) Tj ET Q q 0 0 0 rg BT 197.76 366.60 Td (V) Tj ET Q q 0 0 0 rg BT 204.38 366.60 Td (ir) Tj ET Q q 0 0 0 rg BT 210.31 366.60 Td (ginia�) Tj ET Q q 0 0 0 rg BT 233.08 366.60 Td (s ) Tj ET Q q 0 0 0 rg BT 240.01 366.60 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 265.81 366.60 Td (Ford ) Tj ET Q q 0 0 0 rg BT 287.73 366.60 Td (acreage. ) Tj ET Q q 0 0 0 rg BT 323.79 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 326.16 366.60 Td (As ) Tj ET Q q 0 0 0 rg BT 340.31 366.60 Td (a ) Tj ET Q q 0 0 0 rg BT 347.78 366.60 Td (combined ) Tj ET Q q 0 0 0 rg BT 390.25 366.60 Td (entity) Tj ET Q q 0 0 0 rg BT 412.38 366.60 Td (, ) Tj ET Q q 0 0 0 rg BT 417.91 366.60 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 455.94 366.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 480.08 366.60 Td (to ) Tj ET Q q 0 0 0 rg BT 490.90 366.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 528.37 366.60 Td (to ) Tj ET Q q 0 0 0 rg BT 539.18 366.60 Td (spend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (within ) Tj ET Q q 0 0 0 rg BT 78.35 354.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 99.42 354.60 Td (flow ) Tj ET Q q 0 0 0 rg BT 121.04 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 138.78 354.60 Td (remain ) Tj ET Q q 0 0 0 rg BT 169.84 354.60 Td (focused ) Tj ET Q q 0 0 0 rg BT 204.23 354.60 Td (on ) Tj ET Q q 0 0 0 rg BT 217.53 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 233.04 354.60 Td (same ) Tj ET Q q 0 0 0 rg BT 256.88 354.60 Td (core ) Tj ET Q q 0 0 0 rg BT 277.39 354.60 Td (objectives. ) Tj ET Q q 0 0 0 rg BT 323.72 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 327.02 354.60 Td (If ) Tj ET Q q 0 0 0 rg BT 336.98 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 352.49 354.60 Td (mer) Tj ET Q q 0 0 0 rg BT 367.85 354.60 Td (ger ) Tj ET Q q 0 0 0 rg BT 383.92 354.60 Td (is ) Tj ET Q q 0 0 0 rg BT 393.88 354.60 Td (not ) Tj ET Q q 0 0 0 rg BT 409.96 354.60 Td (approved ) Tj ET Q q 0 0 0 rg BT 450.46 354.60 Td (by ) Tj ET Q q 0 0 0 rg BT 463.76 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 479.27 354.60 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 533.10 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 544.73 354.60 Td (both ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (companies, ) Tj ET Q q 0 0 0 rg BT 97.26 342.60 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 134.75 342.60 Td (will ) Tj ET Q q 0 0 0 rg BT 152.81 342.60 Td (execute ) Tj ET Q q 0 0 0 rg BT 185.84 342.60 Td (its ) Tj ET Q q 0 0 0 rg BT 197.79 342.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 220.29 342.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 243.90 342.60 Td (on ) Tj ET Q q 0 0 0 rg BT 256.40 342.60 Td (a ) Tj ET Q q 0 0 0 rg BT 263.34 342.60 Td (stand-alone ) Tj ET Q q 0 0 0 rg BT 311.93 342.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 334.43 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 351.37 342.60 Td (remain ) Tj ET Q q 0 0 0 rg BT 381.63 342.60 Td (focused ) Tj ET Q q 0 0 0 rg BT 415.23 342.60 Td (on ) Tj ET Q q 0 0 0 rg BT 427.73 342.60 Td (these ) Tj ET Q q 0 0 0 rg BT 450.78 342.60 Td (same ) Tj ET Q q 0 0 0 rg BT 473.83 342.60 Td (key ) Tj ET Q q 0 0 0 rg BT 490.76 342.60 Td (objectives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 330.60 Td ( ) Tj ET Q endstream endobj 17 0 obj <> endobj 18 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 30.60 Td (8) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 726.75 Td (ESTIMA) Tj ET Q q 0 0 0 rg BT 88.21 726.75 Td (TED ) Tj ET Q q 0 0 0 rg BT 111.92 726.75 Td (NET) Tj ET Q q 0 0 0 rg BT 132.31 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 135.46 726.75 Td (QUANTITIES ) Tj ET Q q 0 0 0 rg BT 201.41 726.75 Td (OF) Tj ET Q q 0 0 0 rg BT 214.92 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 218.07 726.75 Td (PROVED ) Tj ET Q q 0 0 0 rg BT 263.45 726.75 Td (OIL) Tj ET Q q 0 0 0 rg BT 281.24 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 283.69 726.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 308.51 726.75 Td (NA) Tj ET Q q 0 0 0 rg BT 322.21 726.75 Td (TURAL) Tj ET Q q 0 0 0 rg BT 356.66 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 359.81 726.75 Td (GAS ) Tj ET Q q 0 0 0 rg BT 383.53 726.75 Td (RESER) Tj ET Q q 0 0 0 rg BT 416.52 726.75 Td (VES ) Tj ET Q q 0 0 0 rg BT 438.43 726.75 Td (AND ) Tj ET Q q 0 0 0 rg BT 463.25 726.75 Td (PRESENT) Tj ET Q q 0 0 0 rg BT 509.19 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 512.11 726.75 Td (V) Tj ET Q q 0 0 0 rg BT 518.05 726.75 Td (ALUE ) Tj ET Q q 0 0 0 rg BT 548.98 726.75 Td (OF) Tj ET Q q 0 0 0 rg BT 562.50 726.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 714.75 Td (ESTIMA) Tj ET Q q 0 0 0 rg BT 88.21 714.75 Td (TED ) Tj ET Q q 0 0 0 rg BT 111.27 714.75 Td (FUTURE ) Tj ET Q q 0 0 0 rg BT 154.89 714.75 Td (NET) Tj ET Q q 0 0 0 rg BT 175.27 714.75 Td ( ) Tj ET Q q 0 0 0 rg BT 177.77 714.75 Td (REVENUES) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 690.75 Td (Oil ) Tj ET Q q 0 0 0 rg BT 65.33 690.75 Td (and ) Tj ET Q q 0 0 0 rg BT 83.96 690.75 Td (Natural ) Tj ET Q q 0 0 0 rg BT 119.79 690.75 Td (Gas ) Tj ET Q q 0 0 0 rg BT 138.96 690.75 Td (Reserve ) Tj ET Q q 0 0 0 rg BT 175.33 690.75 Td (Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 666.75 Td (DeGolyer ) Tj ET Q q 0 0 0 rg BT 109.23 666.75 Td (and ) Tj ET Q q 0 0 0 rg BT 125.96 666.75 Td (MacNaughton ) Tj ET Q q 0 0 0 rg BT 185.47 666.75 Td (\(�D&M�\) ) Tj ET Q q 0 0 0 rg BT 227.20 666.75 Td (prepared ) Tj ET Q q 0 0 0 rg BT 264.47 666.75 Td (estimates ) Tj ET Q q 0 0 0 rg BT 303.98 666.75 Td (of ) Tj ET Q q 0 0 0 rg BT 314.61 666.75 Td (our ) Tj ET Q q 0 0 0 rg BT 330.24 666.75 Td (net ) Tj ET Q q 0 0 0 rg BT 344.76 666.75 Td (proved ) Tj ET Q q 0 0 0 rg BT 374.82 666.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 387.68 666.75 Td (and ) Tj ET Q q 0 0 0 rg BT 404.42 666.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 434.48 666.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 450.11 666.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 485.17 666.75 Td (as ) Tj ET Q q 0 0 0 rg BT 495.79 666.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.42 666.75 Td (December�31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 654.75 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.97 654.75 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.97 654.75 Td ( ) Tj ET Q q 0 0 0 rg BT 97.93 654.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.33 654.75 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.33 654.75 Td ( ) Tj ET Q q 0 0 0 rg BT 138.30 654.75 Td (\(see ) Tj ET Q q 0 0 0 rg BT 157.36 654.75 Td (the ) Tj ET Q q 0 0 0 rg BT 172.55 654.75 Td (summary ) Tj ET Q q 0 0 0 rg BT 212.73 654.75 Td (of ) Tj ET Q q 0 0 0 rg BT 224.02 654.75 Td (D&M�) Tj ET Q q 0 0 0 rg BT 250.69 654.75 Td (s ) Tj ET Q q 0 0 0 rg BT 257.55 654.75 Td (report ) Tj ET Q q 0 0 0 rg BT 284.39 654.75 Td (as ) Tj ET Q q 0 0 0 rg BT 295.69 654.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.98 654.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 366.03 654.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.03 654.75 Td (, ) Tj ET Q q 0 0 0 rg BT 391.50 654.75 Td (included ) Tj ET Q q 0 0 0 rg BT 428.90 654.75 Td (as ) Tj ET Q q 0 0 0 rg BT 440.19 654.75 Td (an ) Tj ET Q q 0 0 0 rg BT 452.60 654.75 Td (exhibit ) Tj ET Q q 0 0 0 rg BT 483.33 654.75 Td (to ) Tj ET Q q 0 0 0 rg BT 494.08 654.75 Td (this ) Tj ET Q q 0 0 0 rg BT 511.49 654.75 Td (Form ) Tj ET Q q 0 0 0 rg BT 536.13 654.75 Td (10-K\). ) Tj ET Q q 0 0 0 rg BT 565.01 654.75 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.75 Td (These ) Tj ET Q q 0 0 0 rg BT 75.13 642.75 Td (estimates ) Tj ET Q q 0 0 0 rg BT 114.10 642.75 Td (of ) Tj ET Q q 0 0 0 rg BT 124.18 642.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 158.70 642.75 Td (were ) Tj ET Q q 0 0 0 rg BT 179.88 642.75 Td (prepared ) Tj ET Q q 0 0 0 rg BT 216.61 642.75 Td (using ) Tj ET Q q 0 0 0 rg BT 240.03 642.75 Td (an ) Tj ET Q q 0 0 0 rg BT 251.23 642.75 Td (average ) Tj ET Q q 0 0 0 rg BT 284.06 642.75 Td (price ) Tj ET Q q 0 0 0 rg BT 305.80 642.75 Td (equal ) Tj ET Q q 0 0 0 rg BT 329.21 642.75 Td (to ) Tj ET Q q 0 0 0 rg BT 338.75 642.75 Td (the ) Tj ET Q q 0 0 0 rg BT 352.72 642.75 Td (unweighted ) Tj ET Q q 0 0 0 rg BT 401.13 642.75 Td (arithmetic ) Tj ET Q q 0 0 0 rg BT 443.42 642.75 Td (average ) Tj ET Q q 0 0 0 rg BT 476.26 642.75 Td (of ) Tj ET Q q 0 0 0 rg BT 486.34 642.75 Td (hydrocarbon ) Tj ET Q q 0 0 0 rg BT 538.63 642.75 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.75 Td (on ) Tj ET Q q 0 0 0 rg BT 62.45 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 77.62 630.75 Td (first ) Tj ET Q q 0 0 0 rg BT 96.67 630.75 Td (day ) Tj ET Q q 0 0 0 rg BT 114.06 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 125.34 630.75 Td (each ) Tj ET Q q 0 0 0 rg BT 146.60 630.75 Td (month ) Tj ET Q q 0 0 0 rg BT 175.11 630.75 Td (within ) Tj ET Q q 0 0 0 rg BT 203.62 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 218.78 630.75 Td (12-month ) Tj ET Q q 0 0 0 rg BT 260.62 630.75 Td (period ) Tj ET Q q 0 0 0 rg BT 289.11 630.75 Td (in ) Tj ET Q q 0 0 0 rg BT 299.84 630.75 Td (accordance ) Tj ET Q q 0 0 0 rg BT 347.75 630.75 Td (with ) Tj ET Q q 0 0 0 rg BT 368.48 630.75 Td (rules ) Tj ET Q q 0 0 0 rg BT 390.87 630.75 Td (and ) Tj ET Q q 0 0 0 rg BT 408.25 630.75 Td (regulations ) Tj ET Q q 0 0 0 rg BT 455.64 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 466.92 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 482.08 630.75 Td (SEC.��) Tj ET Q q 0 0 0 rg BT 507.74 630.75 Td (These ) Tj ET Q q 0 0 0 rg BT 534.57 630.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 548.07 630.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 80.07 618.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 96.21 618.75 Td (reserve ) Tj ET Q q 0 0 0 rg BT 127.89 618.75 Td (estimates ) Tj ET Q q 0 0 0 rg BT 167.91 618.75 Td (do ) Tj ET Q q 0 0 0 rg BT 180.72 618.75 Td (not ) Tj ET Q q 0 0 0 rg BT 196.31 618.75 Td (include ) Tj ET Q q 0 0 0 rg BT 228.55 618.75 Td (any ) Tj ET Q q 0 0 0 rg BT 245.80 618.75 Td (value ) Tj ET Q q 0 0 0 rg BT 270.26 618.75 Td (for ) Tj ET Q q 0 0 0 rg BT 284.73 618.75 Td (probable ) Tj ET Q q 0 0 0 rg BT 322.52 618.75 Td (or ) Tj ET Q q 0 0 0 rg BT 333.66 618.75 Td (possible ) Tj ET Q q 0 0 0 rg BT 369.25 618.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 404.82 618.75 Td (that ) Tj ET Q q 0 0 0 rg BT 422.62 618.75 Td (may ) Tj ET Q q 0 0 0 rg BT 442.65 618.75 Td (exist, ) Tj ET Q q 0 0 0 rg BT 466.84 618.75 Td (nor ) Tj ET Q q 0 0 0 rg BT 482.98 618.75 Td (do ) Tj ET Q q 0 0 0 rg BT 495.79 618.75 Td (they ) Tj ET Q q 0 0 0 rg BT 515.82 618.75 Td (include ) Tj ET Q q 0 0 0 rg BT 548.06 618.75 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.75 Td (value ) Tj ET Q q 0 0 0 rg BT 73.66 606.75 Td (for ) Tj ET Q q 0 0 0 rg BT 87.82 606.75 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 141.41 606.75 Td (acreage.��) Tj ET Q q 0 0 0 rg BT 179.25 606.75 Td (The ) Tj ET Q q 0 0 0 rg BT 197.30 606.75 Td (reserve ) Tj ET Q q 0 0 0 rg BT 228.67 606.75 Td (estimates ) Tj ET Q q 0 0 0 rg BT 268.38 606.75 Td (represent ) Tj ET Q q 0 0 0 rg BT 307.52 606.75 Td (our ) Tj ET Q q 0 0 0 rg BT 323.35 606.75 Td (net ) Tj ET Q q 0 0 0 rg BT 338.07 606.75 Td (revenue ) Tj ET Q q 0 0 0 rg BT 372.21 606.75 Td (interest ) Tj ET Q q 0 0 0 rg BT 404.15 606.75 Td (in ) Tj ET Q q 0 0 0 rg BT 414.43 606.75 Td (our ) Tj ET Q q 0 0 0 rg BT 430.26 606.75 Td (properties.) Tj ET Q endstream endobj 19 0 obj <> endobj 20 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 30.60 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 726.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.92 726.60 Td (following ) Tj ET Q q 0 0 0 rg BT 127.68 726.60 Td (table ) Tj ET Q q 0 0 0 rg BT 149.99 726.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 187.30 726.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 228.49 726.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 259.14 726.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 290.88 726.60 Td (information ) Tj ET Q q 0 0 0 rg BT 340.96 726.60 Td (prepared ) Tj ET Q q 0 0 0 rg BT 378.81 726.60 Td (by ) Tj ET Q q 0 0 0 rg BT 391.68 726.60 Td (D&M ) Tj ET Q q 0 0 0 rg BT 418.45 726.60 Td (as ) Tj ET Q q 0 0 0 rg BT 429.65 726.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.86 726.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 499.81 726.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.81 726.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.19 726.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.19 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 548.06 726.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 714.60 Td (, ) Tj ET Q q 0 0 0 rg BT 74.38 714.60 Td (as ) Tj ET Q q 0 0 0 rg BT 85.09 714.60 Td (well ) Tj ET Q q 0 0 0 rg BT 104.69 714.60 Td (as ) Tj ET Q q 0 0 0 rg BT 115.39 714.60 Td (PV) Tj ET Q q 0 0 0 rg BT 127.26 714.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 142.80 714.60 Td (V) Tj ET Q q 0 0 0 rg BT 148.91 714.60 Td (alues ) Tj ET Q q 0 0 0 rg BT 171.84 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 188.65 714.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 243.24 714.60 Td (Measures ) Tj ET Q q 0 0 0 rg BT 283.94 714.60 Td (for ) Tj ET Q q 0 0 0 rg BT 297.98 714.60 Td (each ) Tj ET Q q 0 0 0 rg BT 318.67 714.60 Td (period. ) Tj ET Q q 0 0 0 rg BT 349.10 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 351.48 714.60 Td (During ) Tj ET Q q 0 0 0 rg BT 382.19 714.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 407.06 714.60 Td (total ) Tj ET Q q 0 0 0 rg BT 427.22 714.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 457.37 714.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 492.50 714.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 532.64 714.60 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.02 714.60 Td (24.5) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 89.46 702.60 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.79 702.60 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 106.13 702.60 Td (\) ) Tj ET Q q 0 0 0 rg BT 111.64 702.60 Td (excluding ) Tj ET Q q 0 0 0 rg BT 153.25 702.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 175.43 702.60 Td (production ) Tj ET Q q 0 0 0 rg BT 220.94 702.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.45 702.60 Td (22.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.95 702.60 Td ( ) Tj ET Q q 0 0 0 rg BT 251.13 702.60 Td (MMBOE, ) Tj ET Q q 0 0 0 rg BT 293.60 702.60 Td (representing ) Tj ET Q q 0 0 0 rg BT 345.20 702.60 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.82 702.60 Td (1) Tj ET Q q 0 0 0 rg BT 356.45 702.60 Td (1) Tj ET Q q 0 0 0 rg BT 361.08 702.60 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.41 702.60 Td ( ) Tj ET Q q 0 0 0 rg BT 376.59 702.60 Td (replacement ) Tj ET Q q 0 0 0 rg BT 427.63 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 438.14 702.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 460.33 702.60 Td (annual ) Tj ET Q q 0 0 0 rg BT 489.16 702.60 Td (production. ) Tj ET Q q 0 0 0 rg BT 537.17 702.60 Td ( ) Tj ET Q q 0 0 0 rg BT 539.19 702.60 Td (There ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.60 Td (are ) Tj ET Q q 0 0 0 rg BT 63.56 690.60 Td (numerous ) Tj ET Q q 0 0 0 rg BT 104.86 690.60 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 157.81 690.60 Td (inherent ) Tj ET Q q 0 0 0 rg BT 192.43 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 202.07 690.60 Td (estimating ) Tj ET Q q 0 0 0 rg BT 245.58 690.60 Td (quantities ) Tj ET Q q 0 0 0 rg BT 286.32 690.60 Td (of ) Tj ET Q q 0 0 0 rg BT 296.51 690.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 326.14 690.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 338.55 690.60 Td (and ) Tj ET Q q 0 0 0 rg BT 354.85 690.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 384.47 690.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 399.66 690.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 434.28 690.60 Td (and ) Tj ET Q q 0 0 0 rg BT 450.57 690.60 Td (their ) Tj ET Q q 0 0 0 rg BT 470.75 690.60 Td (values, ) Tj ET Q q 0 0 0 rg BT 500.66 690.60 Td (including ) Tj ET Q q 0 0 0 rg BT 540.29 690.60 Td (many ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (factors ) Tj ET Q q 0 0 0 rg BT 78.87 678.60 Td (beyond ) Tj ET Q q 0 0 0 rg BT 110.48 678.60 Td (our ) Tj ET Q q 0 0 0 rg BT 125.98 678.60 Td (control, ) Tj ET Q q 0 0 0 rg BT 158.97 678.60 Td (which ) Tj ET Q q 0 0 0 rg BT 185.57 678.60 Td (are ) Tj ET Q q 0 0 0 rg BT 199.95 678.60 Td (further ) Tj ET Q q 0 0 0 rg BT 229.32 678.60 Td (discussed ) Tj ET Q q 0 0 0 rg BT 269.82 678.60 Td (in ) Tj ET Q q 0 0 0 rg BT 279.76 678.60 Td (Item ) Tj ET Q q 0 0 0 rg BT 300.26 678.60 Td (1A, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 317.15 678.60 Td (Risk ) Tj ET Q q 0 0 0 rg BT 336.53 678.60 Td (Factors ) Tj ET Q q 0 0 0 rg BT 369.80 678.60 Td (� ) Tj ET Q q 0 0 0 rg BT 376.97 678.60 Td (Estimating ) Tj ET Q q 0 0 0 rg BT 422.47 678.60 Td (our ) Tj ET Q q 0 0 0 rg BT 438.53 678.60 Td (r) Tj ET Q q 0 0 0 rg BT 442.05 678.60 Td (eserves, ) Tj ET Q q 0 0 0 rg BT 476.15 678.60 Td (pr) Tj ET Q q 0 0 0 rg BT 484.67 678.60 Td (oduction ) Tj ET Q q 0 0 0 rg BT 521.83 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 539.00 678.60 Td (futur) Tj ET Q q 0 0 0 rg BT 558.08 678.60 Td (e ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (net ) Tj ET Q q 0 0 0 rg BT 66.71 666.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 90.02 666.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 116.13 666.60 Td (is ) Tj ET Q q 0 0 0 rg BT 127.79 666.60 Td (difficult ) Tj ET Q q 0 0 0 rg BT 163.88 666.60 Td (to ) Tj ET Q q 0 0 0 rg BT 176.65 666.60 Td (do ) Tj ET Q q 0 0 0 rg BT 191.64 666.60 Td (with ) Tj ET Q q 0 0 0 rg BT 213.85 666.60 Td (any ) Tj ET Q q 0 0 0 rg BT 233.28 666.60 Td (certainty) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.82 666.60 Td (.��See ) Tj ET Q q 0 0 0 rg BT 295.75 666.60 Td (also ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 316.85 666.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 334.61 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 354.60 666.60 Td (Natural ) Tj ET Q q 0 0 0 rg BT 390.71 666.60 Td (Gas ) Tj ET Q q 0 0 0 rg BT 411.81 666.60 Td (Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.81 666.60 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 461.80 666.60 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.80 666.60 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 471.79 666.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 497.88 666.60 Td (Summary ) Tj ET Q q 0 0 0 rg BT 540.64 666.60 Td (T) Tj ET Q q 0 0 0 rg BT 545.28 666.60 Td (able) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (and�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 66.44 654.60 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 123.48 654.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 138.87 654.60 Td (and ) Tj ET Q q 0 0 0 rg BT 156.47 654.60 Td (Natural ) Tj ET Q q 0 0 0 rg BT 190.20 654.60 Td (Gas ) Tj ET Q q 0 0 0 rg BT 208.92 654.60 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 247.44 654.60 Td (es ) Tj ET Q q 0 0 0 rg BT 258.38 654.60 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 307.25 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 309.86 654.60 Td (to ) Tj ET Q q 0 0 0 rg BT 320.25 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 335.07 654.60 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 390.45 654.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 430.27 654.60 Td (Statements ) Tj ET Q q 0 0 0 rg BT 476.76 654.60 Td (for ) Tj ET Q q 0 0 0 rg BT 491.03 654.60 Td (further ) Tj ET Q q 0 0 0 rg BT 520.84 654.60 Td (discussion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 642.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 91.70 642.60 Td (inputs ) Tj ET Q q 0 0 0 rg BT 118.65 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 135.58 642.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 170.29 642.60 Td (between ) Tj ET Q q 0 0 0 rg BT 206.11 642.60 Td (periods.) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 602.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 602.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 602.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 602.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 602.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 602.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 572.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 572.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 572.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 572.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 572.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 572.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 542.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 542.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 542.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 542.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 542.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 542.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 512.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 512.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 512.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 512.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 512.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 512.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 482.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 482.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 482.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 482.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 482.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 482.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 452.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 452.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 452.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 452.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 452.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 452.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 422.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 422.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 422.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 422.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 422.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 422.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 392.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 392.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 392.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 392.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 392.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 392.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 362.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 362.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 362.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 362.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 362.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 362.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 332.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 332.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 332.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 332.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 332.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 332.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 302.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 302.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 302.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 302.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 302.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 302.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 272.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 272.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 272.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 272.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 272.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 272.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 242.10 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 242.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 242.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 242.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 242.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 242.10 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 202.10 309.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 202.10 65.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 202.10 4.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 202.10 65.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 202.10 4.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 202.10 65.00 -25.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 617.1 m 424 617.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 617.1 m 428 617.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 617.1 m 493 617.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 617.1 m 497 617.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 617.1 m 562 617.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 617.1 m 424 617.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 602.1 m 424 602.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 617.1 m 493 617.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 602.1 m 493 602.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 617.1 m 562 617.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 602.1 m 562 602.1 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 621.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.95 621.77 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 606.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 606.77 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 606.77 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 606.77 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 591.78 Td (Estimated pr) Tj ET Q q 0 0 0 rg BT 108.24 591.78 Td (oved r) Tj ET Q q 0 0 0 rg BT 135.00 591.78 Td (eserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 591.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 591.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 591.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 576.77 Td (Oil \(MBbls\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 576.77 Td (255,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 576.77 Td (252,625) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 576.77 Td (247,103) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 561.77 Td (Natural gas \(MMcf\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 561.77 Td (43,008) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 561.77 Td (42,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 561.77 Td (44,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 546.77 Td (Oil equivalent \(MBOE\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 546.77 Td (262,210) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 546.77 Td (259,745) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 546.77 Td (254,489) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 531.78 Td (Reserve volumes categories) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 531.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 531.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 531.77 Td (�) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 516.78 Td (Pr) Tj ET Q q 0 0 0 rg BT 74.96 516.78 Td (oved developed pr) Tj ET Q q 0 0 0 rg BT 152.55 516.78 Td (oducing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 516.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 516.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 516.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 501.77 Td (Oil \(MBbls\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 501.77 Td (200,852) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 501.77 Td (189,166) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 501.77 Td (170,082) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 486.77 Td (Natural gas \(MMcf\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 486.77 Td (39,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 486.77 Td (38,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 486.77 Td (40,167) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 471.77 Td (Oil equivalent \(MBOE\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 471.77 Td (207,446) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 471.77 Td (195,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 471.77 Td (176,777) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 456.78 Td (Pr) Tj ET Q q 0 0 0 rg BT 74.96 456.78 Td (oved developed non-pr) Tj ET Q q 0 0 0 rg BT 172.01 456.78 Td (oducing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 456.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 456.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 456.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 441.77 Td (Oil \(MBbls\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 441.77 Td (21,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 441.77 Td (33,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 441.77 Td (31,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 426.77 Td (Natural gas \(MMcf\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 426.77 Td (3,350) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 426.77 Td (4,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 426.77 Td (3,788) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 411.77 Td (Oil equivalent \(MBOE\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 411.77 Td (22,442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 411.77 Td (34,073) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 411.77 Td (32,468) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 396.78 Td (Pr) Tj ET Q q 0 0 0 rg BT 74.87 396.78 Td (oved undeveloped) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 396.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 396.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 396.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 381.77 Td (Oil \(MBbls\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 381.77 Td (32,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 381.77 Td (30,094) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 381.77 Td (45,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 366.77 Td (Natural gas \(MMcf\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 366.77 Td (96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.15 366.77 Td (286) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.15 366.77 Td (360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 351.77 Td (Oil equivalent \(MBOE\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 351.77 Td (32,322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 351.77 Td (30,142) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 351.77 Td (45,244) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 336.78 Td (Per) Tj ET Q q 0 0 0 rg BT 67.30 336.78 Td (centage of total MBOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 336.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 336.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 336.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 321.77 Td (Proved developed producing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 321.77 Td (79) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 321.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 321.77 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 321.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 321.77 Td (69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 321.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 306.77 Td (Proved developed non-producing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 306.77 Td (9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 306.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 306.77 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 306.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 306.77 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 306.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 291.77 Td (Proved undeveloped) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.15 291.77 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 291.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 291.77 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 291.77 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 291.77 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 291.77 Td (%) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 276.78 Td (Repr) Tj ET Q q 0 0 0 rg BT 73.98 276.78 Td (esentative oil and natural gas prices) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 226.47 281.31 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 276.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 276.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 276.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 261.77 Td (Oil \(NYMEX price per Bbl\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 261.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 261.77 Td (65.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 261.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 261.77 Td (51.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 261.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 261.77 Td (42.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 246.77 Td (Natural gas \(Henry Hub price per MMBtu\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 246.77 Td (3.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 246.77 Td (2.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 246.77 Td (2.55) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 231.78 Td (Pr) Tj ET Q q 0 0 0 rg BT 62.87 231.78 Td (esent values \(in thousands\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 177.06 236.31 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 231.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 231.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 231.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 216.77 Td (Discounted estimated future net cash flows before income taxes \(PV) Tj ET Q q 0 0 0 rg BT 337.66 216.77 Td (-10 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 206.77 Td (V) Tj ET Q q 0 0 0 rg BT 79.61 206.77 Td (alue\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 99.60 211.30 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 206.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.10 206.77 Td (4,025,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 206.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 206.77 Td (2,533,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 206.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.10 206.77 Td (1,541,684) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 191.77 Td (Standardized measure of discounted estimated future net cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.50 181.77 Td (after income taxes \(�Standardized Measure�\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 181.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.10 181.77 Td (3,351,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 181.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 181.77 Td (2,232,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 181.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.10 181.77 Td (1,399,217) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 153.60 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 153.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.28 153.60 Td (reference ) Tj ET Q q 0 0 0 rg BT 124.70 153.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 150.82 153.60 Td (were ) Tj ET Q q 0 0 0 rg BT 172.48 153.60 Td (based ) Tj ET Q q 0 0 0 rg BT 197.49 153.60 Td (on ) Tj ET Q q 0 0 0 rg BT 209.72 153.60 Td (the ) Tj ET Q q 0 0 0 rg BT 224.17 153.60 Td (arithmetic ) Tj ET Q q 0 0 0 rg BT 266.95 153.60 Td (average ) Tj ET Q q 0 0 0 rg BT 300.27 153.60 Td (of ) Tj ET Q q 0 0 0 rg BT 310.83 153.60 Td (the ) Tj ET Q q 0 0 0 rg BT 325.29 153.60 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 417.50 153.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 456.40 153.60 Td (commodity ) Tj ET Q q 0 0 0 rg BT 504.18 153.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 530.30 153.60 Td (for ) Tj ET Q q 0 0 0 rg BT 544.19 153.60 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 141.60 Td (month ) Tj ET Q q 0 0 0 rg BT 95.40 141.60 Td (during ) Tj ET Q q 0 0 0 rg BT 123.86 141.60 Td (the ) Tj ET Q q 0 0 0 rg BT 138.42 141.60 Td (respective ) Tj ET Q q 0 0 0 rg BT 181.30 141.60 Td (year) Tj ET Q q 0 0 0 rg BT 197.95 141.60 Td (. ) Tj ET Q q 0 0 0 rg BT 202.80 141.60 Td ( ) Tj ET Q q 0 0 0 rg BT 204.98 141.60 Td (These ) Tj ET Q q 0 0 0 rg BT 231.20 141.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 257.42 141.60 Td (do ) Tj ET Q q 0 0 0 rg BT 269.77 141.60 Td (not ) Tj ET Q q 0 0 0 rg BT 284.89 141.60 Td (reflect ) Tj ET Q q 0 0 0 rg BT 312.77 141.60 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 362.89 141.60 Td (for ) Tj ET Q q 0 0 0 rg BT 376.90 141.60 Td (market ) Tj ET Q q 0 0 0 rg BT 407.01 141.60 Td (dif) Tj ET Q q 0 0 0 rg BT 417.94 141.60 Td (ferentials ) Tj ET Q q 0 0 0 rg BT 457.48 141.60 Td (by ) Tj ET Q q 0 0 0 rg BT 469.83 141.60 Td (field ) Tj ET Q q 0 0 0 rg BT 490.50 141.60 Td (that ) Tj ET Q q 0 0 0 rg BT 507.84 141.60 Td (are ) Tj ET Q q 0 0 0 rg BT 522.40 141.60 Td (utilized ) Tj ET Q q 0 0 0 rg BT 554.73 141.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 129.60 Td (the ) Tj ET Q q 0 0 0 rg BT 82.18 129.60 Td (preparation ) Tj ET Q q 0 0 0 rg BT 130.18 129.60 Td (of ) Tj ET Q q 0 0 0 rg BT 140.97 129.60 Td (our ) Tj ET Q q 0 0 0 rg BT 156.76 129.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 188.09 129.60 Td (report ) Tj ET Q q 0 0 0 rg BT 214.43 129.60 Td (to ) Tj ET Q q 0 0 0 rg BT 224.68 129.60 Td (arrive ) Tj ET Q q 0 0 0 rg BT 250.45 129.60 Td (at ) Tj ET Q q 0 0 0 rg BT 260.13 129.60 Td (the ) Tj ET Q q 0 0 0 rg BT 274.81 129.60 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 322.81 129.60 Td (net ) Tj ET Q q 0 0 0 rg BT 337.49 129.60 Td (price ) Tj ET Q q 0 0 0 rg BT 359.94 129.60 Td (we ) Tj ET Q q 0 0 0 rg BT 374.06 129.60 Td (receive. ) Tj ET Q q 0 0 0 rg BT 407.89 129.60 Td ( ) Tj ET Q q 0 0 0 rg BT 410.35 129.60 Td (See ) Tj ET Q q 0 0 0 rg BT 427.25 129.60 Td (Item ) Tj ET Q q 0 0 0 rg BT 448.04 129.60 Td (7, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 458.01 129.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 512.25 129.60 Td (s ) Tj ET Q q 0 0 0 rg BT 518.61 129.60 Td (Discussion ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 117.60 Td (and ) Tj ET Q q 0 0 0 rg BT 84.65 117.60 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 120.85 117.60 Td (of ) Tj ET Q q 0 0 0 rg BT 130.95 117.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 172.14 117.60 Td (Condition ) Tj ET Q q 0 0 0 rg BT 214.46 117.60 Td (and ) Tj ET Q q 0 0 0 rg BT 231.78 117.60 Td (Results ) Tj ET Q q 0 0 0 rg BT 262.98 117.60 Td (of ) Tj ET Q q 0 0 0 rg BT 273.08 117.60 Td (Operations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 318.08 117.60 Td ( ) Tj ET Q q 0 0 0 rg BT 320.39 117.60 Td (� ) Tj ET Q q 0 0 0 rg BT 327.71 117.60 Td (Results ) Tj ET Q q 0 0 0 rg BT 358.91 117.60 Td (of ) Tj ET Q q 0 0 0 rg BT 369.01 117.60 Td (Operations ) Tj ET Q q 0 0 0 rg BT 416.32 117.60 Td (� ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 423.64 117.60 Td (Operating ) Tj ET Q q 0 0 0 rg BT 467.06 117.60 Td (Results ) Tj ET Q q 0 0 0 rg BT 498.26 117.60 Td (T) Tj ET Q q 0 0 0 rg BT 502.91 117.60 Td (able) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 520.12 117.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.44 117.60 Td (for ) Tj ET Q q 0 0 0 rg BT 536.42 117.60 Td (details ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 105.60 Td (of ) Tj ET Q q 0 0 0 rg BT 78.33 105.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 91.39 105.60 Td (and ) Tj ET Q q 0 0 0 rg BT 108.33 105.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 138.59 105.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 154.42 105.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 180.80 105.60 Td (received, ) Tj ET Q q 0 0 0 rg BT 219.66 105.60 Td (both ) Tj ET Q q 0 0 0 rg BT 239.94 105.60 Td (including ) Tj ET Q q 0 0 0 rg BT 280.21 105.60 Td (and ) Tj ET Q q 0 0 0 rg BT 297.15 105.60 Td (excluding ) Tj ET Q q 0 0 0 rg BT 339.08 105.60 Td (the ) Tj ET Q q 0 0 0 rg BT 353.80 105.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 383.51 105.60 Td (of ) Tj ET Q q 0 0 0 rg BT 394.34 105.60 Td (derivative ) Tj ET Q q 0 0 0 rg BT 436.82 105.60 Td (settlements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 81.60 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 81.60 Td (Determined ) Tj ET Q q 0 0 0 rg BT 118.76 81.60 Td (based ) Tj ET Q q 0 0 0 rg BT 145.58 81.60 Td (on ) Tj ET Q q 0 0 0 rg BT 159.64 81.60 Td (the ) Tj ET Q q 0 0 0 rg BT 175.91 81.60 Td (average ) Tj ET Q q 0 0 0 rg BT 211.05 81.60 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 305.08 81.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 333.02 81.60 Td (for ) Tj ET Q q 0 0 0 rg BT 348.73 81.60 Td (each ) Tj ET Q q 0 0 0 rg BT 371.10 81.60 Td (month, ) Tj ET Q q 0 0 0 rg BT 403.22 81.60 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 440.60 81.60 Td (to ) Tj ET Q q 0 0 0 rg BT 452.43 81.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 480.37 81.60 Td (received ) Tj ET Q q 0 0 0 rg BT 518.29 81.60 Td (by ) Tj ET Q q 0 0 0 rg BT 532.34 81.60 Td (field ) Tj ET Q q 0 0 0 rg BT 554.73 81.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 69.60 Td (accordance ) Tj ET Q q 0 0 0 rg BT 114.86 69.60 Td (with ) Tj ET Q q 0 0 0 rg BT 135.03 69.60 Td (standards ) Tj ET Q q 0 0 0 rg BT 175.19 69.60 Td (set ) Tj ET Q q 0 0 0 rg BT 188.70 69.60 Td (forth ) Tj ET Q q 0 0 0 rg BT 210.53 69.60 Td (in ) Tj ET Q q 0 0 0 rg BT 220.70 69.60 Td (the ) Tj ET Q q 0 0 0 rg BT 235.31 69.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 274.39 69.60 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 323.44 69.60 Td (Standards ) Tj ET Q q 0 0 0 rg BT 365.28 69.60 Td (Board ) Tj ET Q q 0 0 0 rg BT 392.11 69.60 Td (Codification ) Tj ET Q q 0 0 0 rg BT 444.50 69.60 Td (\(�F) Tj ET Q q 0 0 0 rg BT 457.08 69.60 Td (ASC�\). ) Tj ET Q q 0 0 0 rg BT 489.20 69.60 Td ( ) Tj ET Q q 0 0 0 rg BT 491.60 69.60 Td (PV) Tj ET Q q 0 0 0 rg BT 503.46 69.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 519.01 69.60 Td (V) Tj ET Q q 0 0 0 rg BT 525.13 69.60 Td (alues ) Tj ET Q q 0 0 0 rg BT 548.07 69.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 57.60 Td (the ) Tj ET Q q 0 0 0 rg BT 81.83 57.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 136.14 57.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 172.67 57.60 Td (are ) Tj ET Q q 0 0 0 rg BT 186.99 57.60 Td (significantly ) Tj ET Q q 0 0 0 rg BT 239.09 57.60 Td (impacted ) Tj ET Q q 0 0 0 rg BT 277.85 57.60 Td (by ) Tj ET Q q 0 0 0 rg BT 289.95 57.60 Td (the ) Tj ET Q q 0 0 0 rg BT 304.28 57.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 316.94 57.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 342.93 57.60 Td (we ) Tj ET Q q 0 0 0 rg BT 356.70 57.60 Td (receive ) Tj ET Q q 0 0 0 rg BT 387.67 57.60 Td (relative ) Tj ET Q q 0 0 0 rg BT 419.76 57.60 Td (to ) Tj ET Q q 0 0 0 rg BT 429.64 57.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 468.42 57.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 481.08 57.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 507.07 57.60 Td (\(our ) Tj ET Q q 0 0 0 rg BT 525.84 57.60 Td (NYMEX ) Tj ET Q endstream endobj 21 0 obj <> endobj 22 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 726.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 80.11 726.60 Td (price ) Tj ET Q q 0 0 0 rg BT 102.16 726.60 Td (dif) Tj ET Q q 0 0 0 rg BT 113.09 726.60 Td (ferential\). ) Tj ET Q q 0 0 0 rg BT 154.28 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 156.19 726.60 Td (The ) Tj ET Q q 0 0 0 rg BT 173.80 726.60 Td (weighted-average ) Tj ET Q q 0 0 0 rg BT 246.93 726.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 259.54 726.60 Td (price ) Tj ET Q q 0 0 0 rg BT 281.58 726.60 Td (dif) Tj ET Q q 0 0 0 rg BT 292.51 726.60 Td (ferentials ) Tj ET Q q 0 0 0 rg BT 331.77 726.60 Td (utilized ) Tj ET Q q 0 0 0 rg BT 363.82 726.60 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.31 726.60 Td ($0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.81 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 409.87 726.60 Td (per ) Tj ET Q q 0 0 0 rg BT 424.69 726.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 441.20 726.60 Td (below ) Tj ET Q q 0 0 0 rg BT 467.70 726.60 Td (representative ) Tj ET Q q 0 0 0 rg BT 525.83 726.60 Td (NYMEX ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 714.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 80.11 714.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 106.05 714.60 Td (as ) Tj ET Q q 0 0 0 rg BT 116.44 714.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.82 714.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 184.96 714.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.96 714.60 Td (, ) Tj ET Q q 0 0 0 rg BT 209.52 714.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 251.00 714.60 Td (to ) Tj ET Q q 0 0 0 rg BT 260.84 714.60 Td ($2.25 ) Tj ET Q q 0 0 0 rg BT 285.39 714.60 Td (per ) Tj ET Q q 0 0 0 rg BT 300.22 714.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 316.73 714.60 Td (below ) Tj ET Q q 0 0 0 rg BT 343.22 714.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 381.94 714.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 394.56 714.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 420.49 714.60 Td (as ) Tj ET Q q 0 0 0 rg BT 430.88 714.60 Td (of ) Tj ET Q q 0 0 0 rg BT 441.27 714.60 Td (December ) Tj ET Q q 0 0 0 rg BT 484.41 714.60 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.96 714.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.96 714.60 Td (, ) Tj ET Q q 0 0 0 rg BT 523.52 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 540.02 714.60 Td ($3.39 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 702.60 Td (per ) Tj ET Q q 0 0 0 rg BT 82.77 702.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 99.72 702.60 Td (below ) Tj ET Q q 0 0 0 rg BT 126.66 702.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 165.82 702.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 178.88 702.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 205.25 702.60 Td (as ) Tj ET Q q 0 0 0 rg BT 216.08 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 226.91 702.60 Td (December ) Tj ET Q q 0 0 0 rg BT 270.50 702.60 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.50 702.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.50 702.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 678.60 Td (PV) Tj ET Q q 0 0 0 rg BT 79.37 678.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 94.71 678.60 Td (V) Tj ET Q q 0 0 0 rg BT 100.82 678.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 119.65 678.60 Td (is ) Tj ET Q q 0 0 0 rg BT 128.49 678.60 Td (a ) Tj ET Q q 0 0 0 rg BT 135.10 678.60 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 180.28 678.60 Td ( ) Tj ET Q q 0 0 0 rg BT 182.45 678.60 Td (measure ) Tj ET Q q 0 0 0 rg BT 217.94 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 234.55 678.60 Td (is ) Tj ET Q q 0 0 0 rg BT 243.39 678.60 Td (dif) Tj ET Q q 0 0 0 rg BT 254.32 678.60 Td (ferent ) Tj ET Q q 0 0 0 rg BT 279.80 678.60 Td (from ) Tj ET Q q 0 0 0 rg BT 301.41 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 315.80 678.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 370.17 678.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 406.77 678.60 Td (in ) Tj ET Q q 0 0 0 rg BT 416.72 678.60 Td (that ) Tj ET Q q 0 0 0 rg BT 433.88 678.60 Td (PV) Tj ET Q q 0 0 0 rg BT 445.75 678.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 461.09 678.60 Td (V) Tj ET Q q 0 0 0 rg BT 467.21 678.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 486.03 678.60 Td (is ) Tj ET Q q 0 0 0 rg BT 494.87 678.60 Td (a ) Tj ET Q q 0 0 0 rg BT 501.48 678.60 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 531.97 678.60 Td (number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 84.14 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 98.55 666.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 152.96 666.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 189.58 666.60 Td (is ) Tj ET Q q 0 0 0 rg BT 198.45 666.60 Td (an ) Tj ET Q q 0 0 0 rg BT 210.09 666.60 Td (after) Tj ET Q q 0 0 0 rg BT 228.21 666.60 Td (-tax ) Tj ET Q q 0 0 0 rg BT 245.95 666.60 Td (number) Tj ET Q q 0 0 0 rg BT 275.95 666.60 Td (. ) Tj ET Q q 0 0 0 rg BT 280.65 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 282.85 666.60 Td (See ) Tj ET Q q 0 0 0 rg BT 299.49 666.60 Td (Item ) Tj ET Q q 0 0 0 rg BT 320.01 666.60 Td (1, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 329.71 666.60 Td (Business ) Tj ET Q q 0 0 0 rg BT 366.91 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 384.11 666.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 393.74 666.60 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.96 666.60 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 428.16 666.60 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.16 666.60 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 435.36 666.60 Td (Non-GAAP) Tj ET Q q 0 0 0 rg BT 480.72 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 482.92 666.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 524.00 666.60 Td (Measur) Tj ET Q q 0 0 0 rg BT 554.18 666.60 Td (es ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 654.60 Td (and ) Tj ET Q q 0 0 0 rg BT 85.00 654.60 Td (Reconciliations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.21 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 149.71 654.60 Td (for ) Tj ET Q q 0 0 0 rg BT 163.87 654.60 Td (further ) Tj ET Q q 0 0 0 rg BT 193.57 654.60 Td (discussion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 630.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.42 630.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 115.55 630.60 Td (non-producing ) Tj ET Q q 0 0 0 rg BT 176.79 630.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 211.92 630.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 251.49 630.60 Td (relate ) Tj ET Q q 0 0 0 rg BT 276.06 630.60 Td (to ) Tj ET Q q 0 0 0 rg BT 286.20 630.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 321.33 630.60 Td (that ) Tj ET Q q 0 0 0 rg BT 338.69 630.60 Td (are ) Tj ET Q q 0 0 0 rg BT 353.26 630.60 Td (to ) Tj ET Q q 0 0 0 rg BT 363.40 630.60 Td (be ) Tj ET Q q 0 0 0 rg BT 375.20 630.60 Td (recovered ) Tj ET Q q 0 0 0 rg BT 416.98 630.60 Td (from ) Tj ET Q q 0 0 0 rg BT 438.79 630.60 Td (productive ) Tj ET Q q 0 0 0 rg BT 483.91 630.60 Td (zones ) Tj ET Q q 0 0 0 rg BT 509.05 630.60 Td (that ) Tj ET Q q 0 0 0 rg BT 526.41 630.60 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (require ) Tj ET Q q 0 0 0 rg BT 80.46 618.60 Td (a ) Tj ET Q q 0 0 0 rg BT 87.55 618.60 Td (response ) Tj ET Q q 0 0 0 rg BT 125.19 618.60 Td (to ) Tj ET Q q 0 0 0 rg BT 135.61 618.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 188.78 618.60 Td (modifications ) Tj ET Q q 0 0 0 rg BT 246.42 618.60 Td (before ) Tj ET Q q 0 0 0 rg BT 274.61 618.60 Td (they ) Tj ET Q q 0 0 0 rg BT 294.47 618.60 Td (can ) Tj ET Q q 0 0 0 rg BT 311.00 618.60 Td (be ) Tj ET Q q 0 0 0 rg BT 323.08 618.60 Td (classified ) Tj ET Q q 0 0 0 rg BT 363.50 618.60 Td (as ) Tj ET Q q 0 0 0 rg BT 374.47 618.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 404.89 618.60 Td (developed ) Tj ET Q q 0 0 0 rg BT 448.63 618.60 Td (producing.��Since ) Tj ET Q q 0 0 0 rg BT 521.54 618.60 Td (a ) Tj ET Q q 0 0 0 rg BT 528.63 618.60 Td (majority ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (of ) Tj ET Q q 0 0 0 rg BT 59.74 606.60 Td (our ) Tj ET Q q 0 0 0 rg BT 74.97 606.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 116.87 606.60 Td (are ) Tj ET Q q 0 0 0 rg BT 130.98 606.60 Td (in ) Tj ET Q q 0 0 0 rg BT 140.66 606.60 Td (areas ) Tj ET Q q 0 0 0 rg BT 163.11 606.60 Td (with ) Tj ET Q q 0 0 0 rg BT 182.79 606.60 Td (multiple ) Tj ET Q q 0 0 0 rg BT 218.03 606.60 Td (pay ) Tj ET Q q 0 0 0 rg BT 234.38 606.60 Td (zones, ) Tj ET Q q 0 0 0 rg BT 261.55 606.60 Td (these ) Tj ET Q q 0 0 0 rg BT 284.00 606.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 325.90 606.60 Td (may ) Tj ET Q q 0 0 0 rg BT 345.02 606.60 Td (have ) Tj ET Q q 0 0 0 rg BT 365.80 606.60 Td (both ) Tj ET Q q 0 0 0 rg BT 385.49 606.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 415.16 606.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 457.62 606.60 Td (and ) Tj ET Q q 0 0 0 rg BT 473.96 606.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 503.64 606.60 Td (non-producing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (reserves.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 570.60 Td (As ) Tj ET Q q 0 0 0 rg BT 80.39 570.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.50 570.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 148.36 570.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.36 570.60 Td (, ) Tj ET Q q 0 0 0 rg BT 172.63 570.60 Td (our ) Tj ET Q q 0 0 0 rg BT 187.74 570.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 227.84 570.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 257.38 570.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 310.25 570.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 344.79 570.60 Td (totaled ) Tj ET Q q 0 0 0 rg BT 373.77 570.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.31 570.60 Td (32.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.81 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 452.59 570.60 Td (MMBOE, ) Tj ET Q q 0 0 0 rg BT 494.65 570.60 Td (or ) Tj ET Q q 0 0 0 rg BT 504.75 570.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.83 558.60 Td ( ) Tj ET Q q 0 0 0 rg BT 70.29 558.60 Td (of ) Tj ET Q q 0 0 0 rg BT 81.08 558.60 Td (our ) Tj ET Q q 0 0 0 rg BT 96.88 558.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 137.66 558.60 Td (total ) Tj ET Q q 0 0 0 rg BT 157.90 558.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 188.13 558.60 Td (reserves, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.85 558.60 Td (an ) Tj ET Q q 0 0 0 rg BT 237.75 558.60 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.50 558.60 Td ( ) Tj ET Q q 0 0 0 rg BT 272.97 558.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.76 558.60 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.26 558.60 Td ( ) Tj ET Q q 0 0 0 rg BT 298.72 558.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 338.97 558.60 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.30 558.60 Td (7%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.63 558.60 Td (\) ) Tj ET Q q 0 0 0 rg BT 361.42 558.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.32 558.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 441.87 558.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.87 558.60 Td ( ) Tj ET Q q 0 0 0 rg BT 464.33 558.60 Td (levels ) Tj ET Q q 0 0 0 rg BT 490.12 558.60 Td (for ) Tj ET Q q 0 0 0 rg BT 504.24 558.60 Td (these ) Tj ET Q q 0 0 0 rg BT 527.25 558.60 Td (reserves, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (which ) Tj ET Q q 0 0 0 rg BT 75.74 546.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 109.74 546.60 Td (are ) Tj ET Q q 0 0 0 rg BT 123.75 546.60 Td (discussed ) Tj ET Q q 0 0 0 rg BT 163.88 546.60 Td (below) Tj ET Q q 0 0 0 rg BT 187.67 546.60 Td (.��) Tj ET Q q 0 0 0 rg BT 194.62 546.60 Td (Approximately ) Tj ET Q q 0 0 0 rg BT 256.96 546.60 Td (88% ) Tj ET Q q 0 0 0 rg BT 277.09 546.60 Td (\(28.3 ) Tj ET Q q 0 0 0 rg BT 299.72 546.60 Td (MMBOE\) ) Tj ET Q q 0 0 0 rg BT 342.63 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 352.76 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 367.89 546.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 397.46 546.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 450.35 546.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 462.71 546.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 497.26 546.60 Td (relate ) Tj ET Q q 0 0 0 rg BT 521.27 546.60 Td (to ) Tj ET Q q 0 0 0 rg BT 530.84 546.60 Td (planned ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (future ) Tj ET Q q 0 0 0 rg BT 75.46 534.60 Td (development ) Tj ET Q q 0 0 0 rg BT 129.20 534.60 Td (within ) Tj ET Q q 0 0 0 rg BT 156.84 534.60 Td (our ) Tj ET Q q 0 0 0 rg BT 172.25 534.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 186.15 533.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.40 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 191.48 534.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 222.44 534.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 262.29 534.60 Td (fields.��) Tj ET Q q 0 0 0 rg BT 291.82 534.60 Td (W) Tj ET Q q 0 0 0 rg BT 300.46 534.60 Td (e ) Tj ET Q q 0 0 0 rg BT 306.98 534.60 Td (generally ) Tj ET Q q 0 0 0 rg BT 346.27 534.60 Td (consider ) Tj ET Q q 0 0 0 rg BT 382.23 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 396.53 534.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 410.43 533.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.67 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 415.76 534.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 446.72 534.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 476.57 534.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 529.75 534.60 Td (reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 59.94 522.60 Td (be ) Tj ET Q q 0 0 0 rg BT 72.04 522.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 97.48 522.60 Td (risk ) Tj ET Q q 0 0 0 rg BT 115.14 522.60 Td (than ) Tj ET Q q 0 0 0 rg BT 135.02 522.60 Td (other ) Tj ET Q q 0 0 0 rg BT 158.23 522.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 188.66 522.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 242.42 522.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 277.84 522.60 Td (that ) Tj ET Q q 0 0 0 rg BT 295.50 522.60 Td (require ) Tj ET Q q 0 0 0 rg BT 326.48 522.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 358.59 522.60 Td (at ) Tj ET Q q 0 0 0 rg BT 368.47 522.60 Td (locations ) Tj ET Q q 0 0 0 rg BT 407.23 522.60 Td (of) Tj ET Q q 0 0 0 rg BT 415.38 522.60 Td (fsetting ) Tj ET Q q 0 0 0 rg BT 448.04 522.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 482.37 522.60 Td (production, ) Tj ET Q q 0 0 0 rg BT 530.86 522.60 Td (because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (all ) Tj ET Q q 0 0 0 rg BT 61.97 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 72.78 510.60 Td (these ) Tj ET Q q 0 0 0 rg BT 95.80 510.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 126.04 510.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 179.61 510.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 214.85 510.60 Td (are ) Tj ET Q q 0 0 0 rg BT 229.53 510.60 Td (associated ) Tj ET Q q 0 0 0 rg BT 273.10 510.60 Td (with ) Tj ET Q q 0 0 0 rg BT 293.35 510.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 324.70 510.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 362.15 510.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 406.28 510.60 Td (in ) Tj ET Q q 0 0 0 rg BT 416.54 510.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 441.23 510.60 Td (and ) Tj ET Q q 0 0 0 rg BT 458.14 510.60 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 500.05 510.60 Td (that ) Tj ET Q q 0 0 0 rg BT 517.52 510.60 Td (historically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (produced ) Tj ET Q q 0 0 0 rg BT 90.05 498.60 Td (substantial ) Tj ET Q q 0 0 0 rg BT 136.17 498.60 Td (volumes ) Tj ET Q q 0 0 0 rg BT 173.41 498.60 Td (of ) Tj ET Q q 0 0 0 rg BT 185.08 498.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 198.98 498.60 Td (under ) Tj ET Q q 0 0 0 rg BT 225.10 498.60 Td (primary ) Tj ET Q q 0 0 0 rg BT 260.10 498.60 Td (production. ) Tj ET Q q 0 0 0 rg BT 309.27 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 311.88 498.60 Td (As ) Tj ET Q q 0 0 0 rg BT 326.34 498.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.02 498.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 397.45 498.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 417.45 498.60 Td (, ) Tj ET Q q 0 0 0 rg BT 423.29 498.60 Td (19.8 ) Tj ET Q q 0 0 0 rg BT 444.14 498.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 485.27 498.60 Td (of ) Tj ET Q q 0 0 0 rg BT 496.94 498.60 Td (our ) Tj ET Q q 0 0 0 rg BT 513.62 498.60 Td (total ) Tj ET Q q 0 0 0 rg BT 534.74 498.60 Td (proved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 103.49 486.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 139.14 486.60 Td (are ) Tj ET Q q 0 0 0 rg BT 154.24 486.60 Td (not ) Tj ET Q q 0 0 0 rg BT 169.91 486.60 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 212.79 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 223.46 486.60 Td (be ) Tj ET Q q 0 0 0 rg BT 235.79 486.60 Td (developed ) Tj ET Q q 0 0 0 rg BT 279.78 486.60 Td (within ) Tj ET Q q 0 0 0 rg BT 308.23 486.60 Td (five ) Tj ET Q q 0 0 0 rg BT 326.67 486.60 Td (years ) Tj ET Q q 0 0 0 rg BT 350.66 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 361.88 486.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 388.11 486.60 Td (booking, ) Tj ET Q q 0 0 0 rg BT 426.28 486.60 Td (all ) Tj ET Q q 0 0 0 rg BT 439.17 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 450.39 486.60 Td (which ) Tj ET Q q 0 0 0 rg BT 477.72 486.60 Td (are ) Tj ET Q q 0 0 0 rg BT 492.82 486.60 Td (part ) Tj ET Q q 0 0 0 rg BT 511.26 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 522.48 486.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 536.38 485.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.62 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 542.52 486.60 Td (EOR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (projects. ) Tj ET Q q 0 0 0 rg BT 86.18 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 88.53 474.60 Td (W) Tj ET Q q 0 0 0 rg BT 97.17 474.60 Td (e ) Tj ET Q q 0 0 0 rg BT 104.13 474.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 135.53 474.60 Td (these ) Tj ET Q q 0 0 0 rg BT 158.61 474.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 193.90 474.60 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 222.53 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 237.28 474.60 Td (conditions ) Tj ET Q q 0 0 0 rg BT 281.47 474.60 Td (to ) Tj ET Q q 0 0 0 rg BT 291.78 474.60 Td (be ) Tj ET Q q 0 0 0 rg BT 303.74 474.60 Td (included ) Tj ET Q q 0 0 0 rg BT 340.71 474.60 Td (as ) Tj ET Q q 0 0 0 rg BT 351.56 474.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 381.86 474.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 417.15 474.60 Td (because ) Tj ET Q q 0 0 0 rg BT 451.32 474.60 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 465.51 474.60 Td (we ) Tj ET Q q 0 0 0 rg BT 479.70 474.60 Td (have ) Tj ET Q q 0 0 0 rg BT 501.10 474.60 Td (established ) Tj ET Q q 0 0 0 rg BT 548.07 474.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 85.47 462.60 Td (to ) Tj ET Q q 0 0 0 rg BT 94.78 462.60 Td (follow ) Tj ET Q q 0 0 0 rg BT 122.42 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 136.17 462.60 Td (previously ) Tj ET Q q 0 0 0 rg BT 179.92 462.60 Td (adopted ) Tj ET Q q 0 0 0 rg BT 213.11 462.60 Td (development ) Tj ET Q q 0 0 0 rg BT 266.29 462.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 285.04 462.60 Td (for ) Tj ET Q q 0 0 0 rg BT 298.24 462.60 Td (each ) Tj ET Q q 0 0 0 rg BT 318.08 462.60 Td (of ) Tj ET Q q 0 0 0 rg BT 327.95 462.60 Td (these ) Tj ET Q q 0 0 0 rg BT 350.03 462.60 Td (projects; ) Tj ET Q q 0 0 0 rg BT 385.99 462.60 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 399.19 462.60 Td (we ) Tj ET Q q 0 0 0 rg BT 412.38 462.60 Td (have ) Tj ET Q q 0 0 0 rg BT 432.79 462.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 476.54 462.60 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 510.85 462.60 Td (development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (activities ) Tj ET Q q 0 0 0 rg BT 88.46 450.60 Td (in ) Tj ET Q q 0 0 0 rg BT 99.09 450.60 Td (each ) Tj ET Q q 0 0 0 rg BT 120.27 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 131.45 450.60 Td (these ) Tj ET Q q 0 0 0 rg BT 154.86 450.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 168.75 449.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.00 450.60 Td ( ) Tj ET Q q 0 0 0 rg BT 174.86 450.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 197.72 450.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 232.23 450.60 Td (and ) Tj ET Q q 0 0 0 rg BT 249.53 450.60 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 264.04 450.60 Td (we ) Tj ET Q q 0 0 0 rg BT 278.56 450.60 Td (have ) Tj ET Q q 0 0 0 rg BT 300.30 450.60 Td (a ) Tj ET Q q 0 0 0 rg BT 307.59 450.60 Td (historical ) Tj ET Q q 0 0 0 rg BT 347.66 450.60 Td (record ) Tj ET Q q 0 0 0 rg BT 376.06 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 387.25 450.60 Td (completing ) Tj ET Q q 0 0 0 rg BT 435.09 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 450.17 450.60 Td (development ) Tj ET Q q 0 0 0 rg BT 504.68 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 515.86 450.60 Td (comparable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.60 Td (long-term ) Tj ET Q q 0 0 0 rg BT 91.43 438.60 Td (projects.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 414.60 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.31 414.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.31 414.60 Td (, ) Tj ET Q q 0 0 0 rg BT 121.28 414.60 Td (we ) Tj ET Q q 0 0 0 rg BT 134.42 414.60 Td (spent ) Tj ET Q q 0 0 0 rg BT 157.01 414.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 216.24 414.60 Td ($20 ) Tj ET Q q 0 0 0 rg BT 232.72 414.60 Td (million ) Tj ET Q q 0 0 0 rg BT 263.09 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 272.34 414.60 Td (convert ) Tj ET Q q 0 0 0 rg BT 303.81 414.60 Td (1.1 ) Tj ET Q q 0 0 0 rg BT 317.78 414.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 357.04 414.60 Td (of ) Tj ET Q q 0 0 0 rg BT 366.85 414.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 396.10 414.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 448.67 414.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 482.90 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 492.16 414.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 521.40 414.60 Td (developed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 87.62 402.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 127.69 402.60 Td (related ) Tj ET Q q 0 0 0 rg BT 157.75 402.60 Td (to ) Tj ET Q q 0 0 0 rg BT 168.39 402.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 210.69 402.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 242.42 402.60 Td (development ) Tj ET Q q 0 0 0 rg BT 296.93 402.60 Td (activities ) Tj ET Q q 0 0 0 rg BT 335.89 402.60 Td (at ) Tj ET Q q 0 0 0 rg BT 345.97 402.60 Td (Delhi ) Tj ET Q q 0 0 0 rg BT 371.04 402.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 394.46 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 411.76 402.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 461.82 402.60 Td (development ) Tj ET Q q 0 0 0 rg BT 516.33 402.60 Td (activities ) Tj ET Q q 0 0 0 rg BT 555.29 402.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 75.40 390.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 100.85 390.60 Td (Anticline ) Tj ET Q q 0 0 0 rg BT 140.09 390.60 Td (through ) Tj ET Q q 0 0 0 rg BT 173.22 390.60 Td (our ) Tj ET Q q 0 0 0 rg BT 188.58 390.60 Td (Mission ) Tj ET Q q 0 0 0 rg BT 222.83 390.60 Td (Canyon ) Tj ET Q q 0 0 0 rg BT 255.96 390.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 287.43 390.60 Td (program. ) Tj ET Q q 0 0 0 rg BT 325.83 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 327.86 390.60 Td (Other ) Tj ET Q q 0 0 0 rg BT 352.65 390.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 386.88 390.60 Td (in ) Tj ET Q q 0 0 0 rg BT 396.68 390.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 426.48 390.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 479.59 390.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 514.38 390.60 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.51 390.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (included ) Tj ET Q q 0 0 0 rg BT 86.39 378.60 Td (improved ) Tj ET Q q 0 0 0 rg BT 127.17 378.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 164.60 378.60 Td (additions ) Tj ET Q q 0 0 0 rg BT 203.72 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 214.51 378.60 Td (2.3 ) Tj ET Q q 0 0 0 rg BT 229.47 378.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 269.71 378.60 Td (related ) Tj ET Q q 0 0 0 rg BT 299.36 378.60 Td (to ) Tj ET Q q 0 0 0 rg BT 309.60 378.60 Td (our ) Tj ET Q q 0 0 0 rg BT 325.38 378.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 375.04 378.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 419.15 378.60 Td (at ) Tj ET Q q 0 0 0 rg BT 428.83 378.60 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 455.16 378.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 480.95 378.60 Td (Anticline; ) Tj ET Q q 0 0 0 rg BT 523.40 378.60 Td (adding ) Tj ET Q q 0 0 0 rg BT 553.07 378.60 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 92.43 366.60 Td (2.0 ) Tj ET Q q 0 0 0 rg BT 107.86 366.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 148.58 366.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 188.73 366.60 Td (related ) Tj ET Q q 0 0 0 rg BT 218.87 366.60 Td (to ) Tj ET Q q 0 0 0 rg BT 229.58 366.60 Td (our ) Tj ET Q q 0 0 0 rg BT 245.85 366.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 277.66 366.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 322.25 366.60 Td (at ) Tj ET Q q 0 0 0 rg BT 332.40 366.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 370.34 366.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 393.83 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 411.20 366.60 Td (Salt ) Tj ET Q q 0 0 0 rg BT 429.70 366.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 456.51 366.60 Td (Field; ) Tj ET Q q 0 0 0 rg BT 482.78 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 500.15 366.60 Td (recognizing ) Tj ET Q q 0 0 0 rg BT 550.29 366.60 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (downward ) Tj ET Q q 0 0 0 rg BT 93.92 354.60 Td (revisions ) Tj ET Q q 0 0 0 rg BT 132.24 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 142.79 354.60 Td (our ) Tj ET Q q 0 0 0 rg BT 158.33 354.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 188.31 354.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 241.61 354.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 276.58 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 287.13 354.60 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 301.84 354.60 Td (MMBOE, ) Tj ET Q q 0 0 0 rg BT 344.33 354.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 383.76 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 398.19 354.60 Td (result ) Tj ET Q q 0 0 0 rg BT 422.62 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 433.16 354.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 468.13 354.60 Td (that ) Tj ET Q q 0 0 0 rg BT 485.33 354.60 Td (were ) Tj ET Q q 0 0 0 rg BT 506.98 354.60 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 554.72 354.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (unproved ) Tj ET Q q 0 0 0 rg BT 91.01 342.60 Td (based ) Tj ET Q q 0 0 0 rg BT 117.52 342.60 Td (on ) Tj ET Q q 0 0 0 rg BT 131.25 342.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 167.20 342.60 Td (in ) Tj ET Q q 0 0 0 rg BT 178.72 342.60 Td (our ) Tj ET Q q 0 0 0 rg BT 195.79 342.60 Td (waterflood ) Tj ET Q q 0 0 0 rg BT 242.84 342.60 Td (development ) Tj ET Q q 0 0 0 rg BT 298.23 342.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 323.08 342.60 Td (that ) Tj ET Q q 0 0 0 rg BT 341.81 342.60 Td (would ) Tj ET Q q 0 0 0 rg BT 370.55 342.60 Td (now ) Tj ET Q q 0 0 0 rg BT 391.51 342.60 Td (extend ) Tj ET Q q 0 0 0 rg BT 421.91 342.60 Td (beyond ) Tj ET Q q 0 0 0 rg BT 455.09 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 471.04 342.60 Td (five-year ) Tj ET Q q 0 0 0 rg BT 510.87 342.60 Td (development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (timeframe.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 306.60 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.93 306.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.93 306.60 Td (, ) Tj ET Q q 0 0 0 rg BT 122.54 306.60 Td (we ) Tj ET Q q 0 0 0 rg BT 136.30 306.60 Td (provided ) Tj ET Q q 0 0 0 rg BT 173.95 306.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 186.61 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 203.15 306.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 233.02 306.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 248.45 306.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 279.42 306.60 Td (estimates ) Tj ET Q q 0 0 0 rg BT 318.74 306.60 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.50 306.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 306.60 Td ( ) Tj ET Q q 0 0 0 rg BT 354.61 306.60 Td (to ) Tj ET Q q 0 0 0 rg BT 364.49 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 378.81 306.60 Td (United ) Tj ET Q q 0 0 0 rg BT 408.13 306.60 Td (States ) Tj ET Q q 0 0 0 rg BT 434.12 306.60 Td (Ener) Tj ET Q q 0 0 0 rg BT 452.82 306.60 Td (gy ) Tj ET Q q 0 0 0 rg BT 464.92 306.60 Td (Information ) Tj ET Q q 0 0 0 rg BT 514.32 306.60 Td (Agency ) Tj ET Q q 0 0 0 rg BT 547.52 306.60 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (were ) Tj ET Q q 0 0 0 rg BT 71.43 294.60 Td (substantially ) Tj ET Q q 0 0 0 rg BT 124.48 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 139.20 294.60 Td (same ) Tj ET Q q 0 0 0 rg BT 162.24 294.60 Td (as ) Tj ET Q q 0 0 0 rg BT 173.07 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 187.79 294.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 219.16 294.60 Td (estimates ) Tj ET Q q 0 0 0 rg BT 258.87 294.60 Td (included ) Tj ET Q q 0 0 0 rg BT 295.80 294.60 Td (in ) Tj ET Q q 0 0 0 rg BT 306.08 294.60 Td (our ) Tj ET Q q 0 0 0 rg BT 321.91 294.60 Td (Form ) Tj ET Q q 0 0 0 rg BT 346.08 294.60 Td (10-K ) Tj ET Q q 0 0 0 rg BT 369.13 294.60 Td (for ) Tj ET Q q 0 0 0 rg BT 383.29 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 398.01 294.60 Td (year ) Tj ET Q q 0 0 0 rg BT 417.72 294.60 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.09 294.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 502.68 294.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.68 294.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (Internal ) Tj ET Q q 0 0 0 rg BT 87.00 270.60 Td (Contr) Tj ET Q q 0 0 0 rg BT 112.37 270.60 Td (ols ) Tj ET Q q 0 0 0 rg BT 126.54 270.60 Td (Over) Tj ET Q q 0 0 0 rg BT 148.02 270.60 Td ( ) Tj ET Q q 0 0 0 rg BT 150.52 270.60 Td (Reserve ) Tj ET Q q 0 0 0 rg BT 186.88 270.60 Td (Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 246.60 Td (Reserve ) Tj ET Q q 0 0 0 rg BT 101.82 246.60 Td (information ) Tj ET Q q 0 0 0 rg BT 151.14 246.60 Td (in ) Tj ET Q q 0 0 0 rg BT 161.03 246.60 Td (this ) Tj ET Q q 0 0 0 rg BT 177.58 246.60 Td (report ) Tj ET Q q 0 0 0 rg BT 203.57 246.60 Td (is ) Tj ET Q q 0 0 0 rg BT 212.35 246.60 Td (based ) Tj ET Q q 0 0 0 rg BT 237.23 246.60 Td (on ) Tj ET Q q 0 0 0 rg BT 249.34 246.60 Td (estimates ) Tj ET Q q 0 0 0 rg BT 288.66 246.60 Td (prepared ) Tj ET Q q 0 0 0 rg BT 325.74 246.60 Td (by ) Tj ET Q q 0 0 0 rg BT 337.85 246.60 Td (D&M, ) Tj ET Q q 0 0 0 rg BT 366.35 246.60 Td (an ) Tj ET Q q 0 0 0 rg BT 377.90 246.60 Td (independent ) Tj ET Q q 0 0 0 rg BT 428.88 246.60 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 471.53 246.60 Td (engineering ) Tj ET Q q 0 0 0 rg BT 520.84 246.60 Td (consulting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (firm ) Tj ET Q q 0 0 0 rg BT 70.49 234.60 Td (located ) Tj ET Q q 0 0 0 rg BT 103.14 234.60 Td (in ) Tj ET Q q 0 0 0 rg BT 114.70 234.60 Td (Dallas, ) Tj ET Q q 0 0 0 rg BT 146.25 234.60 Td (T) Tj ET Q q 0 0 0 rg BT 151.66 234.60 Td (exas, ) Tj ET Q q 0 0 0 rg BT 175.71 234.60 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 212.82 234.60 Td (data ) Tj ET Q q 0 0 0 rg BT 233.25 234.60 Td (provided ) Tj ET Q q 0 0 0 rg BT 272.57 234.60 Td (by ) Tj ET Q q 0 0 0 rg BT 286.35 234.60 Td (our ) Tj ET Q q 0 0 0 rg BT 303.46 234.60 Td (internal ) Tj ET Q q 0 0 0 rg BT 337.78 234.60 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 377.10 234.60 Td (engineering ) Tj ET Q q 0 0 0 rg BT 428.08 234.60 Td (team ) Tj ET Q q 0 0 0 rg BT 451.29 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 469.50 234.60 Td (is ) Tj ET Q q 0 0 0 rg BT 479.95 234.60 Td (the ) Tj ET Q q 0 0 0 rg BT 495.95 234.60 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 554.17 234.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.60 Td (management. ) Tj ET Q q 0 0 0 rg BT 105.85 222.60 Td ( ) Tj ET Q q 0 0 0 rg BT 108.42 222.60 Td (W) Tj ET Q q 0 0 0 rg BT 117.05 222.60 Td (e ) Tj ET Q q 0 0 0 rg BT 124.26 222.60 Td (rely ) Tj ET Q q 0 0 0 rg BT 142.57 222.60 Td (on ) Tj ET Q q 0 0 0 rg BT 155.33 222.60 Td (D&M�) Tj ET Q q 0 0 0 rg BT 182.00 222.60 Td (s ) Tj ET Q q 0 0 0 rg BT 188.66 222.60 Td (expertise ) Tj ET Q q 0 0 0 rg BT 227.51 222.60 Td (to�ensure ) Tj ET Q q 0 0 0 rg BT 266.65 222.60 Td (that ) Tj ET Q q 0 0 0 rg BT 284.41 222.60 Td (our ) Tj ET Q q 0 0 0 rg BT 300.51 222.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 332.14 222.60 Td (estimates ) Tj ET Q q 0 0 0 rg BT 372.11 222.60 Td (are ) Tj ET Q q 0 0 0 rg BT 387.08 222.60 Td (prepared ) Tj ET Q q 0 0 0 rg BT 424.82 222.60 Td (in ) Tj ET Q q 0 0 0 rg BT 435.36 222.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 484.22 222.60 Td (with ) Tj ET Q q 0 0 0 rg BT 504.76 222.60 Td (SEC ) Tj ET Q q 0 0 0 rg BT 525.86 222.60 Td (rules ) Tj ET Q q 0 0 0 rg BT 548.06 222.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 95.22 210.60 Td (and ) Tj ET Q q 0 0 0 rg BT 110.95 210.60 Td (that ) Tj ET Q q 0 0 0 rg BT 127.23 210.60 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 174.05 210.60 Td (geologic, ) Tj ET Q q 0 0 0 rg BT 212.27 210.60 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 254.10 210.60 Td (engineering, ) Tj ET Q q 0 0 0 rg BT 305.09 210.60 Td (and ) Tj ET Q q 0 0 0 rg BT 320.82 210.60 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 363.76 210.60 Td (principles ) Tj ET Q q 0 0 0 rg BT 404.48 210.60 Td (and ) Tj ET Q q 0 0 0 rg BT 420.21 210.60 Td (techniques ) Tj ET Q q 0 0 0 rg BT 464.26 210.60 Td (are ) Tj ET Q q 0 0 0 rg BT 477.75 210.60 Td (applied ) Tj ET Q q 0 0 0 rg 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ET Q q 0 0 0 rg BT 149.38 678.60 Td (behalf ) Tj ET Q q 0 0 0 rg BT 177.21 678.60 Td (of ) Tj ET Q q 0 0 0 rg BT 188.37 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 203.43 678.60 Td (Board ) Tj ET Q q 0 0 0 rg BT 230.71 678.60 Td (of ) Tj ET Q q 0 0 0 rg BT 241.88 678.60 Td (Directors, ) Tj ET Q q 0 0 0 rg BT 284.42 678.60 Td (oversees ) Tj ET Q q 0 0 0 rg BT 321.69 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 336.74 678.60 Td (qualifications, ) Tj ET Q q 0 0 0 rg BT 396.51 678.60 Td (independence, ) Tj ET Q q 0 0 0 rg BT 456.82 678.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 510.18 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 527.46 678.60 Td (hiring ) Tj ET Q q 0 0 0 rg BT 554.18 678.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (our ) Tj ET Q q 0 0 0 rg BT 64.47 666.60 Td (independent ) Tj ET Q q 0 0 0 rg BT 114.98 666.60 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 157.16 666.60 Td (engineering ) Tj ET Q q 0 0 0 rg BT 206.00 666.60 Td (firm ) Tj ET Q q 0 0 0 rg BT 224.86 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 240.94 666.60 Td (reviews ) Tj ET Q q 0 0 0 rg BT 273.68 666.60 Td (the�final ) Tj ET Q q 0 0 0 rg BT 308.36 666.60 Td (report ) Tj ET Q q 0 0 0 rg BT 333.88 666.60 Td (and�subsequent�reporting ) Tj ET Q q 0 0 0 rg BT 436.05 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 446.02 666.60 Td (our ) Tj ET Q q 0 0 0 rg BT 460.99 666.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 473.18 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 489.26 666.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 518.67 666.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 533.63 666.60 Td (reserve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (estimates.� ) Tj ET Q q 0 0 0 rg BT 94.35 654.60 Td (The ) Tj ET Q q 0 0 0 rg BT 112.74 654.60 Td (Chairman ) Tj ET Q q 0 0 0 rg BT 155.01 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 166.18 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 181.24 654.60 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 220.18 654.60 Td (and ) Tj ET Q q 0 0 0 rg BT 237.46 654.60 Td (HSE ) Tj ET Q q 0 0 0 rg BT 259.20 654.60 Td (Committee ) Tj ET Q q 0 0 0 rg BT 306.48 654.60 Td (holds ) Tj ET Q q 0 0 0 rg BT 330.99 654.60 Td (a ) Tj ET Q q 0 0 0 rg BT 338.27 654.60 Td (Ph.D. ) Tj ET Q q 0 0 0 rg BT 363.89 654.60 Td (in ) Tj ET Q q 0 0 0 rg BT 374.51 654.60 Td (Chemical ) Tj ET Q q 0 0 0 rg BT 415.68 654.60 Td (Engineering ) Tj ET Q q 0 0 0 rg BT 467.39 654.60 Td (from ) Tj ET Q q 0 0 0 rg BT 489.67 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 504.73 654.60 Td (Massachusetts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (Institute ) Tj ET Q q 0 0 0 rg BT 84.35 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 94.61 642.60 Td (T) Tj ET Q q 0 0 0 rg BT 100.02 642.60 Td (echnology ) Tj ET Q q 0 0 0 rg BT 143.75 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 160.26 642.60 Td (bachelor) Tj ET Q q 0 0 0 rg BT 195.06 642.60 Td (�) Tj ET Q q 0 0 0 rg BT 197.84 642.60 Td (s ) Tj ET Q q 0 0 0 rg BT 203.81 642.60 Td (degrees ) Tj ET Q q 0 0 0 rg BT 236.42 642.60 Td (in ) Tj ET Q q 0 0 0 rg BT 246.27 642.60 Td (Chemistry ) Tj ET Q q 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303.61 630.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 338.87 630.60 Td (preparation ) Tj ET Q q 0 0 0 rg BT 386.90 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 403.84 630.60 Td (approval.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (OIL) Tj ET Q q 0 0 0 rg BT 67.29 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 69.24 606.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 93.40 606.60 Td (NA) Tj ET Q q 0 0 0 rg BT 107.10 606.60 Td (TURAL) Tj ET Q q 0 0 0 rg BT 141.56 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 144.06 606.60 Td (GAS ) Tj ET Q q 0 0 0 rg BT 167.12 606.60 Td (OPERA) Tj ET Q q 0 0 0 rg BT 201.38 606.60 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 582.60 Td (Summary) Tj ET Q q 0 0 0 rg BT 109.17 582.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.67 582.60 Td ( ) Tj ET Q q 0 0 0 rg BT 114.08 582.60 Td ( ) Tj ET Q q 0 0 0 rg BT 116.49 582.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 134.45 582.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 147.42 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 164.27 582.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 194.44 582.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 210.18 582.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 252.57 582.60 Td (are ) Tj ET Q q 0 0 0 rg BT 267.19 582.60 Td (concentrated ) Tj ET Q q 0 0 0 rg BT 320.68 582.60 Td (in ) Tj ET Q q 0 0 0 rg BT 330.87 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 345.49 582.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 366.23 582.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 391.42 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 408.27 582.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 436.79 582.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 478.08 582.60 Td (regions ) Tj ET Q q 0 0 0 rg BT 509.93 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 520.67 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 535.30 582.60 Td (United ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (States.��Currently ) Tj ET Q q 0 0 0 rg BT 121.88 570.60 Td (our ) Tj ET Q q 0 0 0 rg BT 137.88 570.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 180.54 570.60 Td (with ) Tj ET Q q 0 0 0 rg BT 200.99 570.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 231.42 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 248.53 570.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 291.75 570.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 327.18 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 337.63 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 352.51 570.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 373.51 570.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 398.96 570.60 Td (region ) Tj ET Q q 0 0 0 rg BT 427.18 570.60 Td (are ) Tj ET Q q 0 0 0 rg BT 442.05 570.60 Td (situated ) Tj ET Q q 0 0 0 rg BT 475.83 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 486.28 570.60 Td (Mississippi, ) Tj ET Q q 0 0 0 rg BT 536.82 570.60 Td (T) Tj ET Q q 0 0 0 rg BT 542.23 570.60 Td (exas, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 91.64 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 108.19 558.60 Td (Alabama, ) Tj ET Q q 0 0 0 rg BT 149.49 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 166.64 558.60 Td (in ) Tj ET Q q 0 0 0 rg BT 177.13 558.60 Td (the ) Tj ET Q q 0 0 0 rg BT 192.06 558.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 220.87 558.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 262.47 558.60 Td (region ) Tj ET Q q 0 0 0 rg BT 290.72 558.60 Td (are ) Tj ET Q q 0 0 0 rg BT 305.64 558.60 Td (situated ) Tj ET Q q 0 0 0 rg BT 339.45 558.60 Td (in ) Tj ET Q q 0 0 0 rg BT 349.94 558.60 Td (Montana, ) Tj ET Q q 0 0 0 rg BT 390.70 558.60 Td (North ) Tj ET Q q 0 0 0 rg BT 416.73 558.60 Td (Dakota ) Tj ET Q q 0 0 0 rg BT 448.32 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 465.27 558.60 Td (W) Tj ET Q q 0 0 0 rg BT 474.11 558.60 Td (yoming. ) Tj ET Q q 0 0 0 rg BT 509.88 558.60 Td ( ) Tj ET Q q 0 0 0 rg BT 512.58 558.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 530.85 558.60 Td (primary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (focus ) Tj ET Q q 0 0 0 rg BT 73.81 546.60 Td (is ) Tj ET Q q 0 0 0 rg BT 83.14 546.60 Td (increasing ) Tj ET Q q 0 0 0 rg BT 126.88 546.60 Td (the ) Tj ET Q q 0 0 0 rg BT 141.75 546.60 Td (value ) Tj ET Q q 0 0 0 rg BT 166.06 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 177.04 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 193.03 546.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 235.66 546.60 Td (through ) Tj ET Q q 0 0 0 rg BT 269.43 546.60 Td (a ) Tj ET Q q 0 0 0 rg BT 276.52 546.60 Td (combination ) Tj ET Q q 0 0 0 rg BT 329.16 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 340.14 546.60 Td (exploitation, ) Tj ET Q q 0 0 0 rg BT 393.06 546.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 425.16 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 442.25 546.60 Td (proven ) Tj ET Q q 0 0 0 rg BT 472.67 546.60 Td (engineering ) Tj ET Q q 0 0 0 rg BT 522.53 546.60 Td (extraction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (practices, ) Tj ET Q q 0 0 0 rg BT 89.47 534.60 Td (with ) Tj ET Q q 0 0 0 rg BT 109.18 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 123.33 534.60 Td (most ) Tj ET Q q 0 0 0 rg BT 144.71 534.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 188.86 534.60 Td (emphasis ) Tj ET Q q 0 0 0 rg BT 228.01 534.60 Td (relating ) Tj ET Q q 0 0 0 rg BT 260.48 534.60 Td (to ) Tj ET Q q 0 0 0 rg BT 270.19 534.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 284.08 533.17 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.59 534.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 310.52 534.60 Td (operations. ) Tj ET Q q 0 0 0 rg BT 356.61 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 358.55 534.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 376.03 534.60 Td (current ) Tj ET Q q 0 0 0 rg BT 406.28 534.60 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 443.21 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 453.47 534.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 467.37 533.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.62 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 472.55 534.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 494.48 534.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 528.07 534.60 Td (provides ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (us ) Tj ET Q q 0 0 0 rg BT 61.42 522.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 106.67 522.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 120.26 522.60 Td (production ) Tj ET Q q 0 0 0 rg BT 166.61 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 184.08 522.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 215.98 522.60 Td (growth ) Tj ET Q q 0 0 0 rg BT 247.35 522.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 285.37 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 296.18 522.60 Td (the ) Tj ET Q q 0 0 0 rg BT 311.43 522.60 Td (future, ) Tj ET Q q 0 0 0 rg BT 340.84 522.60 Td (assuming ) Tj ET Q q 0 0 0 rg BT 381.65 522.60 Td (crude ) Tj ET Q q 0 0 0 rg BT 406.89 522.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 420.48 522.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 447.39 522.60 Td (are ) Tj ET Q q 0 0 0 rg BT 462.63 522.60 Td (at ) Tj ET Q q 0 0 0 rg BT 472.87 522.60 Td (levels ) Tj ET Q q 0 0 0 rg BT 499.23 522.60 Td (that ) Tj ET Q q 0 0 0 rg BT 517.26 522.60 Td (support ) Tj ET Q q 0 0 0 rg BT 550.29 522.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (development ) Tj ET Q q 0 0 0 rg BT 103.65 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 114.48 510.60 Td (those ) Tj ET Q q 0 0 0 rg BT 138.09 510.60 Td (projects.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 486.60 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 486.60 Td (e ) Tj ET Q q 0 0 0 rg BT 83.13 486.60 Td (have ) Tj ET Q q 0 0 0 rg BT 104.57 486.60 Td (been ) Tj ET Q q 0 0 0 rg BT 126.00 486.60 Td (conducting ) Tj ET Q q 0 0 0 rg BT 172.99 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 189.99 486.60 Td (expanding ) Tj ET Q q 0 0 0 rg BT 234.20 486.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 256.76 486.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 300.97 486.60 Td (on ) Tj ET Q q 0 0 0 rg BT 313.53 486.60 Td (our ) Tj ET Q q 0 0 0 rg BT 329.42 486.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 355.31 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 365.64 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 380.42 486.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 401.30 486.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 426.64 486.60 Td (region ) Tj ET Q q 0 0 0 rg BT 454.75 486.60 Td (since ) Tj ET Q q 0 0 0 rg BT 477.85 486.60 Td (1999, ) Tj ET Q q 0 0 0 rg BT 502.91 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 519.90 486.60 Td (as ) Tj ET Q q 0 0 0 rg BT 530.79 486.60 Td (a ) Tj ET Q q 0 0 0 rg BT 537.79 486.60 Td (result, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (we ) Tj ET Q q 0 0 0 rg BT 63.81 474.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 102.56 474.60 Td (have ) Tj ET Q q 0 0 0 rg BT 124.09 474.60 Td (many ) Tj ET Q q 0 0 0 rg BT 148.96 474.60 Td (more ) Tj ET Q q 0 0 0 rg BT 172.16 474.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 186.06 473.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.30 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 191.96 474.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 214.61 474.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 248.92 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 259.35 474.60 Td (this ) Tj ET Q q 0 0 0 rg BT 276.46 474.60 Td (region ) Tj ET Q q 0 0 0 rg BT 304.66 474.60 Td (than ) Tj ET Q q 0 0 0 rg BT 324.53 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 334.96 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 349.83 474.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 378.59 474.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 420.13 474.60 Td (region. ) Tj ET Q q 0 0 0 rg BT 450.83 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 453.29 474.60 Td (W) Tj ET Q q 0 0 0 rg BT 461.93 474.60 Td (e ) Tj ET Q q 0 0 0 rg BT 469.02 474.60 Td (began ) Tj ET Q q 0 0 0 rg BT 495.56 474.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 539.86 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 550.30 474.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 77.81 462.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 118.90 462.60 Td (region ) Tj ET Q q 0 0 0 rg BT 146.65 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 156.63 462.60 Td (2010 ) Tj ET Q q 0 0 0 rg BT 178.83 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 188.81 462.60 Td (connection ) Tj ET Q q 0 0 0 rg BT 234.88 462.60 Td (with, ) Tj ET Q q 0 0 0 rg BT 257.36 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 274.00 462.60 Td (following, ) Tj ET Q q 0 0 0 rg BT 317.59 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 333.12 462.60 Td (mer) Tj ET Q q 0 0 0 rg BT 348.48 462.60 Td (ger ) Tj ET Q q 0 0 0 rg BT 363.45 462.60 Td (with ) Tj ET Q q 0 0 0 rg BT 383.43 462.60 Td (Encore ) Tj ET Q q 0 0 0 rg BT 413.46 462.60 Td (Acquisition ) Tj ET Q q 0 0 0 rg BT 462.33 462.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 503.42 462.60 Td (\(�Encore�\). ) Tj ET Q q 0 0 0 rg BT 551.97 462.60 Td ( ) Tj ET Q q 0 0 0 rg BT 554.17 462.60 Td (In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.71 450.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 86.03 450.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 111.80 450.60 Td (region, ) Tj ET Q q 0 0 0 rg BT 142.84 450.60 Td (we ) Tj ET Q q 0 0 0 rg BT 157.50 450.60 Td (own ) Tj ET Q q 0 0 0 rg BT 177.71 450.60 Td (what ) Tj ET Q q 0 0 0 rg BT 200.14 450.60 Td (is, ) Tj ET Q q 0 0 0 rg BT 212.31 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 223.08 450.60 Td (our ) Tj ET Q q 0 0 0 rg BT 239.40 450.60 Td (knowledge, ) Tj ET Q q 0 0 0 rg BT 288.77 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 303.98 450.60 Td (region�) Tj ET Q q 0 0 0 rg BT 332.31 450.60 Td (s ) Tj ET Q q 0 0 0 rg BT 339.19 450.60 Td (only ) Tj ET Q q 0 0 0 rg BT 359.96 450.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 405.17 450.60 Td (naturally ) Tj ET Q q 0 0 0 rg BT 443.70 450.60 Td (occurring ) Tj ET Q q 0 0 0 rg BT 485.01 450.60 Td (source ) Tj ET Q q 0 0 0 rg BT 514.10 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 525.43 450.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 539.32 449.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.57 450.60 Td (, ) Tj ET Q q 0 0 0 rg BT 548.06 450.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.60 Td (these ) Tj ET Q q 0 0 0 rg BT 72.65 438.60 Td (lar) Tj ET Q q 0 0 0 rg BT 83.01 438.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 95.05 438.60 Td (volumes ) Tj ET Q q 0 0 0 rg BT 131.54 438.60 Td (of ) Tj ET Q q 0 0 0 rg BT 142.47 438.60 Td (naturally ) Tj ET Q q 0 0 0 rg BT 180.62 438.60 Td (occurring ) Tj ET Q q 0 0 0 rg BT 221.54 438.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 235.43 437.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.68 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 241.28 438.60 Td (give ) Tj ET Q q 0 0 0 rg BT 261.10 438.60 Td (us ) Tj ET Q q 0 0 0 rg BT 272.59 438.60 Td (a ) Tj ET Q q 0 0 0 rg BT 279.63 438.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 324.44 438.60 Td (competitive ) Tj ET Q q 0 0 0 rg BT 374.25 438.60 Td (advantage ) Tj ET Q q 0 0 0 rg BT 417.39 438.60 Td (in ) Tj ET Q q 0 0 0 rg BT 427.77 438.60 Td (this ) Tj ET Q q 0 0 0 rg BT 444.81 438.60 Td (area. ) Tj ET Q q 0 0 0 rg BT 466.56 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 469.16 438.60 Td (In ) Tj ET Q q 0 0 0 rg BT 480.10 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 494.91 438.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 523.62 438.60 Td (Mountain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (region, ) Tj ET Q q 0 0 0 rg BT 82.06 426.60 Td (we ) Tj ET Q q 0 0 0 rg BT 98.24 426.60 Td (own ) Tj ET Q q 0 0 0 rg BT 119.98 426.60 Td (an ) Tj ET Q q 0 0 0 rg BT 133.94 426.60 Td (overriding ) Tj ET Q q 0 0 0 rg BT 180.11 426.60 Td (royalty ) Tj ET Q q 0 0 0 rg BT 212.96 426.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 246.91 426.60 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 293.08 426.60 Td (to ) Tj ET Q q 0 0 0 rg BT 305.37 426.60 Td (an ) Tj ET Q q 0 0 0 rg BT 319.33 426.60 Td (approximate ) Tj ET Q q 0 0 0 rg BT 373.83 426.60 Td (one-third ) Tj ET Q q 0 0 0 rg BT 415.00 426.60 Td (ownership ) Tj ET Q q 0 0 0 rg BT 461.18 426.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 495.13 426.60 Td (in ) Tj ET Q q 0 0 0 rg BT 507.43 426.60 Td (Exxon ) Tj ET Q q 0 0 0 rg BT 538.05 426.60 Td (Mobil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (Corporation�) Tj ET Q q 0 0 0 rg BT 100.60 414.60 Td (s ) Tj ET Q q 0 0 0 rg BT 106.84 414.60 Td (\(�ExxonMobil�) Tj ET Q q 0 0 0 rg BT 167.95 414.60 Td (s�\) ) Tj ET Q q 0 0 0 rg BT 181.96 414.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 195.85 413.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.10 414.60 Td ( ) Tj ET Q q 0 0 0 rg BT 201.45 414.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 236.55 414.60 Td (in ) Tj ET Q q 0 0 0 rg BT 246.68 414.60 Td (LaBar) Tj ET Q q 0 0 0 rg BT 271.48 414.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 283.27 414.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 306.18 414.60 Td (in ) Tj ET Q q 0 0 0 rg BT 316.30 414.60 Td (southwestern ) Tj ET Q q 0 0 0 rg BT 371.25 414.60 Td (W) Tj ET Q q 0 0 0 rg BT 380.09 414.60 Td (yoming. ) Tj ET Q q 0 0 0 rg BT 415.49 414.60 Td ( ) Tj ET Q q 0 0 0 rg BT 417.84 414.60 Td (In ) Tj ET Q q 0 0 0 rg BT 428.52 414.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 463.64 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 473.77 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 488.34 414.60 Td (sources ) Tj ET Q q 0 0 0 rg BT 520.68 414.60 Td (of ) Tj ET Q q 0 0 0 rg BT 531.35 414.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 545.25 413.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.50 414.60 Td ( ) Tj ET Q q 0 0 0 rg BT 550.84 414.60 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 87.97 402.60 Td (own, ) Tj ET Q q 0 0 0 rg BT 110.06 402.60 Td (we ) Tj ET Q q 0 0 0 rg BT 124.09 402.60 Td (purchase ) Tj ET Q q 0 0 0 rg BT 162.00 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 178.81 402.60 Td (use ) Tj ET Q q 0 0 0 rg BT 194.51 402.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 208.41 401.17 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.20 402.60 Td (captured ) Tj ET Q q 0 0 0 rg BT 249.99 402.60 Td (from ) Tj ET Q q 0 0 0 rg BT 271.80 402.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 311.95 402.60 Td (sources ) Tj ET Q q 0 0 0 rg BT 344.31 402.60 Td (which ) Tj ET Q q 0 0 0 rg BT 371.12 402.60 Td (could ) Tj ET Q q 0 0 0 rg BT 395.71 402.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 436.96 402.60 Td (be ) Tj ET Q q 0 0 0 rg BT 448.77 402.60 Td (released ) Tj ET Q q 0 0 0 rg BT 483.90 402.60 Td (into ) Tj ET Q q 0 0 0 rg BT 501.82 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 516.41 402.60 Td (atmosphere ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (\(sometimes ) Tj ET Q q 0 0 0 rg BT 97.83 390.60 Td (referred ) Tj ET Q q 0 0 0 rg BT 131.69 390.60 Td (to ) Tj ET Q q 0 0 0 rg BT 141.70 390.60 Td (as ) Tj ET Q q 0 0 0 rg BT 152.25 390.60 Td (anthropogenic, ) Tj ET Q q 0 0 0 rg BT 214.18 390.60 Td (man-made ) Tj ET Q q 0 0 0 rg BT 258.61 390.60 Td (or ) Tj ET Q q 0 0 0 rg BT 269.17 390.60 Td (industrial-source ) Tj ET Q q 0 0 0 rg BT 338.60 390.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 352.49 389.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.74 390.60 Td (\) ) Tj ET Q q 0 0 0 rg BT 361.29 390.60 Td (in ) Tj ET Q q 0 0 0 rg BT 371.30 390.60 Td (our ) Tj ET Q q 0 0 0 rg BT 386.86 390.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 417.95 390.60 Td (operations. ) Tj ET Q q 0 0 0 rg BT 464.34 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 466.40 390.60 Td (These ) Tj ET Q q 0 0 0 rg BT 492.51 390.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 532.51 390.60 Td (sources ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 59.71 378.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 73.60 377.17 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.07 378.60 Td (help ) Tj ET Q q 0 0 0 rg BT 97.17 378.60 Td (us ) Tj ET Q q 0 0 0 rg BT 107.94 378.60 Td (recover ) Tj ET Q q 0 0 0 rg BT 139.80 378.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 181.67 378.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 194.10 378.60 Td (from ) Tj ET Q q 0 0 0 rg BT 215.42 378.60 Td (mature ) Tj ET Q q 0 0 0 rg BT 245.07 378.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 257.50 378.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 281.60 378.60 Td (and, ) Tj ET Q q 0 0 0 rg BT 300.42 378.60 Td (we ) Tj ET Q q 0 0 0 rg BT 313.96 378.60 Td (believe, ) Tj ET Q q 0 0 0 rg BT 347.21 378.60 Td (also ) Tj ET Q q 0 0 0 rg BT 365.20 378.60 Td (provide ) Tj ET Q q 0 0 0 rg BT 397.62 378.60 Td (an ) Tj ET Q q 0 0 0 rg BT 408.94 378.60 Td (economical ) Tj ET Q q 0 0 0 rg BT 456.91 378.60 Td (way ) Tj ET Q q 0 0 0 rg BT 475.45 378.60 Td (to ) Tj ET Q q 0 0 0 rg BT 485.11 378.60 Td (reduce ) Tj ET Q q 0 0 0 rg BT 513.63 378.60 Td (atmospheric ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 365.17 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.27 366.60 Td (emissions ) Tj ET Q q 0 0 0 rg BT 110.21 366.60 Td (through ) Tj ET Q q 0 0 0 rg BT 143.82 366.60 Td (the ) Tj ET Q q 0 0 0 rg BT 158.54 366.60 Td (concurrent ) Tj ET Q q 0 0 0 rg BT 203.79 366.60 Td (under) Tj ET Q q 0 0 0 rg BT 226.38 366.60 Td (ground ) Tj ET Q q 0 0 0 rg BT 257.21 366.60 Td (storage ) Tj ET Q q 0 0 0 rg BT 288.59 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 299.42 366.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 313.31 365.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.56 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 319.06 366.60 Td (which ) Tj ET Q q 0 0 0 rg BT 346.00 366.60 Td (occurs ) Tj ET Q q 0 0 0 rg BT 374.60 366.60 Td (as ) Tj ET Q q 0 0 0 rg BT 385.43 366.60 Td (part ) Tj ET Q q 0 0 0 rg BT 403.47 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 414.30 366.60 Td (our ) Tj ET Q q 0 0 0 rg BT 430.13 366.60 Td (oil-producing ) Tj ET Q q 0 0 0 rg BT 487.07 366.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 509.57 366.60 Td (operations.) Tj ET Q endstream endobj 25 0 obj <> endobj 26 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 726.75 Td (Field ) Tj ET Q q 0 0 0 rg BT 91.81 726.75 Td (Summary ) Tj ET Q q 0 0 0 rg BT 136.48 726.75 Td (T) Tj ET Q q 0 0 0 rg BT 142.23 726.75 Td (able.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.51 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 165.15 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 167.60 726.75 Td (The ) Tj ET Q q 0 0 0 rg BT 185.79 726.75 Td (following ) Tj ET Q q 0 0 0 rg BT 227.31 726.75 Td (table ) Tj ET Q q 0 0 0 rg BT 249.39 726.75 Td (provides ) Tj ET Q q 0 0 0 rg BT 286.47 726.75 Td (a ) Tj ET Q q 0 0 0 rg BT 293.54 726.75 Td (summary ) Tj ET Q q 0 0 0 rg BT 333.40 726.75 Td (by ) Tj ET Q q 0 0 0 rg BT 346.04 726.75 Td (field ) Tj ET Q q 0 0 0 rg BT 367.01 726.75 Td (and ) Tj ET Q q 0 0 0 rg BT 384.09 726.75 Td (region ) Tj ET Q q 0 0 0 rg BT 412.28 726.75 Td (of ) Tj ET Q q 0 0 0 rg BT 423.25 726.75 Td (selected ) Tj ET Q q 0 0 0 rg BT 458.09 726.75 Td (proved ) Tj ET Q q 0 0 0 rg BT 488.50 726.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 501.70 726.75 Td (and ) Tj ET Q q 0 0 0 rg BT 518.77 726.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 549.18 726.75 Td (gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.75 Td (reserve ) Tj ET Q q 0 0 0 rg BT 81.19 714.75 Td (information, ) Tj ET Q q 0 0 0 rg BT 133.72 714.75 Td (including ) Tj ET Q q 0 0 0 rg BT 174.31 714.75 Td (total ) Tj ET Q q 0 0 0 rg BT 194.91 714.75 Td (proved ) Tj ET Q q 0 0 0 rg BT 225.49 714.75 Td (reserve ) Tj ET Q q 0 0 0 rg BT 257.18 714.75 Td (quantities ) Tj ET Q q 0 0 0 rg BT 298.88 714.75 Td (as ) Tj ET Q q 0 0 0 rg BT 310.03 714.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.18 714.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 380.09 714.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.09 714.75 Td (, ) Tj ET Q q 0 0 0 rg BT 405.41 714.75 Td (and ) Tj ET Q q 0 0 0 rg BT 422.66 714.75 Td (average ) Tj ET Q q 0 0 0 rg BT 456.57 714.75 Td (daily ) Tj ET Q q 0 0 0 rg BT 479.38 714.75 Td (production ) Tj ET Q q 0 0 0 rg BT 525.53 714.75 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.01 714.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 714.75 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.75 Td (all ) Tj ET Q q 0 0 0 rg BT 63.20 702.75 Td (based ) Tj ET Q q 0 0 0 rg BT 89.68 702.75 Td (on ) Tj ET Q q 0 0 0 rg BT 103.38 702.75 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 141.15 702.75 Td (s ) Tj ET Q q 0 0 0 rg BT 148.75 702.75 Td (net ) Tj ET Q q 0 0 0 rg BT 164.67 702.75 Td (revenue ) Tj ET Q q 0 0 0 rg BT 200.02 702.75 Td (interest ) Tj ET Q q 0 0 0 rg BT 233.16 702.75 Td (\(�NRI�\).��) Tj ET Q q 0 0 0 rg BT 273.24 702.75 Td (The ) Tj ET Q q 0 0 0 rg BT 292.49 702.75 Td (reserve ) Tj ET Q q 0 0 0 rg BT 325.07 702.75 Td (estimates ) Tj ET Q q 0 0 0 rg BT 365.98 702.75 Td (presented ) Tj ET Q q 0 0 0 rg BT 408.01 702.75 Td (were ) Tj ET Q q 0 0 0 rg BT 431.14 702.75 Td (prepared ) Tj ET Q q 0 0 0 rg BT 469.82 702.75 Td (by ) Tj ET Q q 0 0 0 rg BT 483.53 702.75 Td (D&M, ) Tj ET Q q 0 0 0 rg BT 513.63 702.75 Td (independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.75 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 92.87 690.75 Td (engineers ) Tj ET Q q 0 0 0 rg BT 134.01 690.75 Td (located ) Tj ET Q q 0 0 0 rg BT 165.71 690.75 Td (in ) Tj ET Q q 0 0 0 rg BT 176.31 690.75 Td (Dallas, ) Tj ET Q q 0 0 0 rg BT 206.98 690.75 Td (T) Tj ET Q q 0 0 0 rg BT 212.39 690.75 Td (exas.��) Tj ET Q q 0 0 0 rg BT 237.48 690.75 Td (W) Tj ET Q q 0 0 0 rg BT 246.12 690.75 Td (e ) Tj ET Q q 0 0 0 rg BT 253.38 690.75 Td (serve ) Tj ET Q q 0 0 0 rg BT 277.31 690.75 Td (as ) Tj ET Q q 0 0 0 rg BT 288.46 690.75 Td (operator ) Tj ET Q q 0 0 0 rg BT 324.60 690.75 Td (of ) Tj ET Q q 0 0 0 rg BT 335.76 690.75 Td (nearly ) Tj ET Q q 0 0 0 rg BT 363.57 690.75 Td (all ) Tj ET Q q 0 0 0 rg BT 376.39 690.75 Td (of ) Tj ET Q q 0 0 0 rg BT 387.55 690.75 Td (our ) Tj ET Q q 0 0 0 rg BT 403.71 690.75 Td (significant ) Tj ET Q q 0 0 0 rg BT 448.74 690.75 Td (properties, ) Tj ET Q q 0 0 0 rg BT 494.06 690.75 Td (in ) Tj ET Q q 0 0 0 rg BT 504.66 690.75 Td (which ) Tj ET Q q 0 0 0 rg BT 531.92 690.75 Td (we ) Tj ET Q q 0 0 0 rg BT 546.41 690.75 Td (also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.75 Td (own ) Tj ET Q q 0 0 0 rg BT 68.54 678.75 Td (most ) Tj ET Q q 0 0 0 rg BT 89.81 678.75 Td (of ) Tj ET Q q 0 0 0 rg BT 99.96 678.75 Td (the ) Tj ET Q q 0 0 0 rg BT 114.00 678.75 Td (interests, ) Tj ET Q q 0 0 0 rg BT 151.65 678.75 Td (although ) Tj ET Q q 0 0 0 rg BT 188.46 678.75 Td (typically ) Tj ET Q q 0 0 0 rg BT 225.28 678.75 Td (less ) Tj ET Q q 0 0 0 rg BT 242.10 678.75 Td (than ) Tj ET Q q 0 0 0 rg BT 261.14 678.75 Td (a ) Tj ET Q q 0 0 0 rg BT 267.40 678.75 Td (100% ) Tj ET Q q 0 0 0 rg BT 292.55 678.75 Td (working ) Tj ET Q q 0 0 0 rg BT 327.70 678.75 Td (interest, ) Tj ET Q q 0 0 0 rg BT 361.45 678.75 Td (and ) Tj ET Q q 0 0 0 rg BT 377.71 678.75 Td (a ) Tj ET Q q 0 0 0 rg BT 383.97 678.75 Td (lesser ) Tj ET Q q 0 0 0 rg BT 408.56 678.75 Td (NRI ) Tj ET Q q 0 0 0 rg BT 427.61 678.75 Td (due ) Tj ET Q q 0 0 0 rg BT 443.87 678.75 Td (to ) Tj ET Q q 0 0 0 rg BT 453.46 678.75 Td (royalties ) Tj ET Q q 0 0 0 rg BT 489.72 678.75 Td (and ) Tj ET Q q 0 0 0 rg BT 505.98 678.75 Td (other ) Tj ET Q q 0 0 0 rg BT 528.35 678.75 Td (burdens. ) Tj ET Q q 0 0 0 rg BT 565.01 678.75 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.75 Td (For ) Tj ET Q q 0 0 0 rg BT 65.52 666.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 107.64 666.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 120.32 666.75 Td (and ) Tj ET Q q 0 0 0 rg BT 136.89 666.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 166.78 666.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 182.24 666.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 217.13 666.75 Td (information, ) Tj ET Q q 0 0 0 rg BT 268.96 666.75 Td (see ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 283.86 666.75 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 325.98 666.75 Td (Net ) Tj ET Q q 0 0 0 rg BT 342.00 666.75 Td (Quantities ) Tj ET Q q 0 0 0 rg BT 385.79 666.75 Td (of ) Tj ET Q q 0 0 0 rg BT 395.70 666.75 Td (Pr) Tj ET Q q 0 0 0 rg BT 405.33 666.75 Td (oved ) Tj ET Q q 0 0 0 rg BT 426.33 666.75 Td (Oil ) Tj ET Q q 0 0 0 rg BT 441.24 666.75 Td (and ) Tj ET Q q 0 0 0 rg BT 458.37 666.75 Td (Natural ) Tj ET Q q 0 0 0 rg BT 491.61 666.75 Td (Gas ) Tj ET Q q 0 0 0 rg BT 509.85 666.75 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 547.52 666.75 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 654.75 Td (Pr) Tj ET Q q 0 0 0 rg BT 59.13 654.75 Td (esent ) Tj ET Q q 0 0 0 rg BT 82.67 654.75 Td (V) Tj ET Q q 0 0 0 rg BT 87.67 654.75 Td (alue ) Tj ET Q q 0 0 0 rg BT 107.88 654.75 Td (of ) Tj ET Q q 0 0 0 rg BT 118.65 654.75 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 161.63 654.75 Td (Futur) Tj ET Q q 0 0 0 rg BT 184.04 654.75 Td (e ) Tj ET Q q 0 0 0 rg BT 191.47 654.75 Td (Net ) Tj ET Q q 0 0 0 rg BT 208.35 654.75 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.11 654.75 Td ( ) Tj ET Q q 0 0 0 rg BT 249.10 654.75 Td (above ) Tj ET Q q 0 0 0 rg BT 275.97 654.75 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 293.40 654.75 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 350.82 654.75 Td (Oil ) Tj ET Q q 0 0 0 rg BT 366.59 654.75 Td (and ) Tj ET Q q 0 0 0 rg BT 384.59 654.75 Td (Natural ) Tj ET Q q 0 0 0 rg BT 418.70 654.75 Td (Gas ) Tj ET Q q 0 0 0 rg BT 437.80 654.75 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 476.32 654.75 Td (es ) Tj ET Q q 0 0 0 rg BT 487.64 654.75 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.52 654.75 Td ( ) Tj ET Q q 0 0 0 rg BT 539.51 654.75 Td (to ) Tj ET Q q 0 0 0 rg BT 550.28 654.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.75 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 104.77 642.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 144.49 642.75 Td (Statements.) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 568.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 568.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 568.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 568.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 568.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 568.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 568.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 568.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 568.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 568.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 568.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 568.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 568.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 568.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 540.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 540.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 540.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 540.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 540.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 540.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 540.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 540.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 540.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 540.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 540.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 540.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 540.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 540.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 512.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 512.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 512.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 512.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 512.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 512.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 512.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 512.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 512.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 512.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 512.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 512.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 512.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 512.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 484.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 484.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 484.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 484.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 484.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 484.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 484.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 484.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 484.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 484.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 484.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 484.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 484.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 484.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 456.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 456.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 456.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 456.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 456.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 456.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 456.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 456.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 456.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 456.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 456.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 456.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 456.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 456.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 428.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 428.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 428.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 428.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 428.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 428.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 428.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 428.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 428.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 428.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 428.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 428.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 428.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 428.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 400.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 400.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 400.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 400.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 400.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 400.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 400.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 400.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 400.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 400.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 400.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 400.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 400.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 400.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 372.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 372.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 372.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 372.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 372.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 372.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 372.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 372.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 372.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 372.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 372.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 372.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 372.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 372.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 344.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 344.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 344.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 344.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 344.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 344.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 344.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 344.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 344.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 344.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 344.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 344.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 344.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 344.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 316.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 316.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 316.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 316.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 316.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 316.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 316.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 316.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 316.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 316.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 316.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 316.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 316.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 316.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 288.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 288.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 288.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 288.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 288.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 288.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 288.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 288.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 288.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 288.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 288.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 288.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 288.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 288.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 260.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 260.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 260.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 260.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 260.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 260.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 260.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 260.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 260.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 260.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 260.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 260.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 260.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 260.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 232.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 232.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 232.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 232.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 232.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 232.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 232.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 232.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 232.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 232.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 232.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 232.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 232.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 232.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 204.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 204.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 204.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 204.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 204.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 204.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 204.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 204.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 204.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 204.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 204.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 204.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 204.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 204.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 176.25 150.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 200.00 176.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 248.00 176.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 252.00 176.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 300.00 176.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 304.00 176.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 352.00 176.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 176.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 404.00 176.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 408.00 176.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 456.00 176.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 460.00 176.25 48.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 176.25 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 176.25 48.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 609.25 m 248 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 248 609.25 m 252 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 609.25 m 300 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 300 609.25 m 304 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 609.25 m 352 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 352 609.25 m 356 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 609.25 m 404 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 609.25 m 456 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 456 609.25 m 460 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 609.25 m 508 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 609.25 m 560 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 568.25 m 248 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 568.25 m 300 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 568.25 m 352 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 568.25 m 404 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 568.25 m 456 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 568.25 m 508 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 609.25 m 560 609.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 568.25 m 560 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 568.25 m 248 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 568.25 m 300 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 568.25 m 352 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 568.25 m 404 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 568.25 m 456 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 568.25 m 508 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 568.25 m 560 568.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 442.25 m 456 442.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 442.25 m 248 442.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 428.25 m 248 428.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 442.25 m 300 442.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 428.25 m 300 428.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 442.25 m 352 442.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 428.25 m 352 428.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 442.25 m 404 442.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 428.25 m 404 428.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 442.25 m 456 442.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 428.25 m 456 428.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 442.25 m 508 442.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 428.25 m 508 428.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 386.25 m 248 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 386.25 m 300 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 386.25 m 352 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 386.25 m 404 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 386.25 m 456 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 386.25 m 508 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 386.25 m 248 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 386.25 m 300 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 372.25 m 300 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 386.25 m 352 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 372.25 m 352 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 386.25 m 404 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 372.25 m 404 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 386.25 m 456 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 372.25 m 456 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 386.25 m 508 386.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 372.25 m 508 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 372.25 m 248 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 358.25 m 248 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 372.25 m 300 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 358.25 m 300 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 372.25 m 352 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 358.25 m 352 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 372.25 m 404 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 358.25 m 404 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 372.25 m 456 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 358.25 m 456 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 372.25 m 508 372.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 358.25 m 508 358.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 302.25 m 248 302.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 302.25 m 300 302.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 302.25 m 352 302.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 302.25 m 404 302.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 302.25 m 456 302.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 302.25 m 508 302.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 288.25 m 248 288.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 288.25 m 300 288.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 288.25 m 352 288.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 288.25 m 404 288.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 302.25 m 456 302.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 288.25 m 456 288.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 302.25 m 508 302.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 288.25 m 508 288.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 246.25 m 352 246.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 246.25 m 404 246.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 246.25 m 248 246.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 246.25 m 300 246.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 246.25 m 352 246.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 246.25 m 404 246.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 246.25 m 456 246.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 246.25 m 508 246.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 232.25 m 248 232.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 232.25 m 300 232.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 232.25 m 352 232.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 232.25 m 404 232.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 232.25 m 456 232.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 232.25 m 508 232.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 218.25 m 248 218.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 204.25 m 248 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 218.25 m 300 218.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 204.25 m 300 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 218.25 m 352 218.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 204.25 m 352 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 218.25 m 404 218.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 204.25 m 404 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 218.25 m 456 218.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 204.25 m 456 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 218.25 m 508 218.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 204.25 m 508 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 204.25 m 248 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 204.25 m 300 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 204.25 m 352 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 204.25 m 404 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 204.25 m 456 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 204.25 m 508 204.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 176.25 m 248 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 176.25 m 300 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 176.25 m 352 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 176.25 m 404 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 176.25 m 456 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 176.25 m 508 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 176.25 m 248 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 163.25 m 248 163.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 200 161.25 m 248 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 176.25 m 300 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 163.25 m 300 163.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 252 161.25 m 300 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 176.25 m 352 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 163.25 m 352 163.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 304 161.25 m 352 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 176.25 m 404 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 163.25 m 404 163.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 161.25 m 404 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 176.25 m 456 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 163.25 m 456 163.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 408 161.25 m 456 161.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 176.25 m 508 176.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 163.25 m 508 163.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 460 161.25 m 508 161.25 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.70 613.71 Td (Proved Reserves as of December 31, 2018) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 374.41 617.79 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.55 622.71 Td (2018 ) Tj ET Q q 0 0 0 rg BT 441.55 622.71 Td (A) Tj ET Q q 0 0 0 rg BT 447.47 622.71 Td (verage Daily) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.75 613.71 Td (Production) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 217.70 581.71 Td (Oil) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 208.20 572.71 Td (\(MBbls\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.00 590.71 Td (Natural ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 268.50 581.71 Td (Gas) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 261.00 572.71 Td (\(MMcf\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 312.70 572.71 Td (MBOEs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.85 599.71 Td (% of ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.00 590.71 Td (Company ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 370.30 581.71 Td (T) Tj ET Q q 0 0 0 rg BT 375.17 581.71 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 364.70 572.71 Td (MBOEs) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 425.70 581.71 Td (Oil) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 416.70 572.71 Td (\(Bbls/d\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 470.00 590.71 Td (Natural ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.50 581.71 Td (Gas) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.50 572.71 Td (\(Mcf/d\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 520.55 581.71 Td (A) Tj ET Q q 0 0 0 rg BT 526.38 581.71 Td (verage) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 517.60 572.71 Td (2018 NRI) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 558.70 Td (T) Tj ET Q q 0 0 0 rg BT 58.09 558.70 Td (ertiary oil and gas pr) Tj ET Q q 0 0 0 rg BT 138.59 558.70 Td (operties) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 544.70 Td (Gulf Coast region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 530.71 Td (Delhi) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 530.71 Td (18,359) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 530.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 530.71 Td (18,359) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 530.71 Td (7.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 530.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 530.71 Td (4,368) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 530.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 530.71 Td (58.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 530.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 516.71 Td (Hastings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 516.71 Td (34,557) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 516.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 516.71 Td (34,557) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.25 516.71 Td (13.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 516.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 516.71 Td (5,596) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 516.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 516.71 Td (79.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 516.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 502.71 Td (Heidelber) Tj ET Q q 0 0 0 rg BT 93.90 502.71 Td (g) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 502.71 Td (22,469) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 502.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 502.71 Td (22,469) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 502.71 Td (8.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 502.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 502.71 Td (4,355) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 502.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 502.71 Td (81.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 502.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 488.71 Td (Oyster Bayou) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 488.71 Td (14,998) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 488.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 488.71 Td (14,998) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 488.71 Td (5.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 488.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 488.71 Td (4,843) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 488.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 488.71 Td (87.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 488.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 474.71 Td (T) Tj ET Q q 0 0 0 rg BT 63.84 474.71 Td (insley) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 474.71 Td (17,427) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 474.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 474.71 Td (17,427) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 474.71 Td (6.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 474.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 474.71 Td (5,530) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 474.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 474.71 Td (81.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 474.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 460.71 Td (W) Tj ET Q q 0 0 0 rg BT 66.63 460.71 Td (est ) Tj ET Q q 0 0 0 rg BT 78.35 460.71 Td (Y) Tj ET Q q 0 0 0 rg BT 84.24 460.71 Td (ellow Creek) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.25 460.71 Td (2,084) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 460.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.25 460.71 Td (2,084) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 460.71 Td (0.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 460.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 460.71 Td (205) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 460.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 460.71 Td (47.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 460.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 446.71 Td (Mature properties) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 122.73 450.79 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 446.71 Td (16,850) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 446.82 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 446.71 Td (16,850) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 446.71 Td (6.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 446.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 446.71 Td (6,702) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 446.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 446.71 Td (78.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 446.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 432.71 Td (T) Tj ET Q q 0 0 0 rg BT 69.68 432.71 Td (otal Gulf Coast region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.25 432.71 Td (126,744) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 432.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 432.71 Td (126,744) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.25 432.71 Td (48.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 432.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 432.71 Td (31,599) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 432.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 432.71 Td (76.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 432.71 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 418.70 Td (Rocky Mountain region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 404.71 Td (Bell Creek) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 404.71 Td (16,443) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 404.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 404.71 Td (16,443) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 404.71 Td (6.3) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 404.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 404.71 Td (4,1) Tj ET Q q 0 0 0 rg BT 443.50 404.71 Td (13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 404.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 404.71 Td (84.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 404.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 390.71 Td (Salt Creek and other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.25 390.71 Td (7,562) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 390.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.25 390.71 Td (7,562) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 390.71 Td (2.9) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 390.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 390.71 Td (2,1) Tj ET Q q 0 0 0 rg BT 443.50 390.71 Td (16) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 390.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 390.71 Td (18.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 390.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 376.71 Td (T) Tj ET Q q 0 0 0 rg BT 69.68 376.71 Td (otal Rocky Mountain region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 376.71 Td (24,005) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 376.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 376.71 Td (24,005) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 376.71 Td (9.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 376.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 376.71 Td (6,229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 376.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 376.71 Td (38.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 376.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 362.71 Td (T) Tj ET Q q 0 0 0 rg BT 69.68 362.71 Td (otal tertiary properties) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.25 362.71 Td (150,749) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 362.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 362.71 Td (150,749) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.25 362.71 Td (57.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 362.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 362.71 Td (37,828) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 362.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 362.71 Td (66.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 362.71 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 348.70 Td (Non-tertiary oil and gas pr) Tj ET Q q 0 0 0 rg BT 155.41 348.70 Td (operties) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 334.70 Td (Gulf Coast region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 320.71 Td (T) Tj ET Q q 0 0 0 rg BT 63.68 320.71 Td (exas) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 320.71 Td (16,245) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.40 320.71 Td (1) Tj ET Q q 0 0 0 rg BT 275.90 320.71 Td (1,977) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 320.71 Td (18,241) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 320.71 Td (7.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 320.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 320.71 Td (4,066) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 320.71 Td (2,877) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 320.71 Td (81.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 320.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 306.71 Td (Mississippi and other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.25 306.71 Td (4,460) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 275.90 306.71 Td (5,379) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.25 306.71 Td (5,357) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 306.71 Td (2.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 306.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 306.71 Td (963) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 306.71 Td (2,528) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 306.71 Td (21.6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 306.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 292.71 Td (T) Tj ET Q q 0 0 0 rg BT 69.68 292.71 Td (otal Gulf Coast region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 292.71 Td (20,705) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.40 292.71 Td (17,356) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 292.71 Td (23,598) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 292.71 Td (9.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 292.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 432.25 292.71 Td (5,029) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 292.71 Td (5,405) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 292.71 Td (52.8) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 292.71 Td (%) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 278.70 Td (Rocky Mountain region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 264.71 Td (Cedar Creek ) Tj ET Q q 0 0 0 rg BT 105.48 264.71 Td (Anticline) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 138.97 268.79 Td (\(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 264.71 Td (81,395) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.40 264.71 Td (21,515) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 264.71 Td (84,980) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.25 264.71 Td (32.4) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 264.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 264.71 Td (14,513) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 264.71 Td (1,940) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 264.71 Td (80.2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 264.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 250.71 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 224.25 250.71 Td (2,193) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 275.90 250.71 Td (4,137) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.25 250.71 Td (2,883) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.75 250.71 Td (1.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 250.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 250.71 Td (847) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 250.71 Td (3,509) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 250.71 Td (63.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 250.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 236.71 Td (T) Tj ET Q q 0 0 0 rg BT 69.68 236.71 Td (otal Rocky Mountain region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 219.75 236.71 Td (83,588) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.40 236.71 Td (25,652) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 323.75 236.71 Td (87,863) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.25 236.71 Td (33.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 236.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 236.71 Td (15,360) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 236.71 Td (5,449) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 236.71 Td (79.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 236.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 222.71 Td (T) Tj ET Q q 0 0 0 rg BT 69.37 222.71 Td (otal non-tertiary properties) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.25 222.71 Td (104,293) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.40 222.71 Td (43,008) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 222.71 Td (1) Tj ET Q q 0 0 0 rg BT 323.75 222.71 Td (1) Tj ET Q q 0 0 0 rg BT 328.25 222.71 Td (1,461) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 380.25 222.71 Td (42.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 222.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 222.71 Td (20,389) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.75 222.71 Td (10,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 222.71 Td (69.7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 222.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 208.71 Td (T) Tj ET Q q 0 0 0 rg BT 75.68 208.71 Td (otal continuing properties) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.25 208.71 Td (255,042) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.40 208.71 Td (43,008) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 208.71 Td (262,210) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.75 208.71 Td (100.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 208.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 208.71 Td (58,217) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.75 208.71 Td (10,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 208.71 Td (67.5) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 208.71 Td (%) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 194.70 Td (Pr) Tj ET Q q 0 0 0 rg BT 61.83 194.70 Td (operty sales) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 180.71 Td (Lockhart Crossing) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 125.24 184.79 Td (\(4\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 235.50 180.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 287.15 180.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.50 180.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 387.00 180.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 180.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.00 180.71 Td (315) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 495.50 180.71 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 180.71 Td (32.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 180.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 70.50 166.71 Td (Company ) Tj ET Q q 0 0 0 rg BT 107.59 166.71 Td (T) Tj ET Q q 0 0 0 rg BT 112.45 166.71 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.25 166.71 Td (255,042) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 271.40 166.71 Td (43,008) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.25 166.71 Td (262,210) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 375.75 166.71 Td (100.0) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 396.00 166.71 Td (%) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 427.75 166.71 Td (58,532) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 479.75 166.71 Td (10,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 536.25 166.71 Td (67.1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 552.00 166.71 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.75 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 138.75 Td (The ) Tj ET Q q 0 0 0 rg BT 85.61 138.75 Td (above ) Tj ET Q q 0 0 0 rg BT 112.06 138.75 Td (reserve ) Tj ET Q q 0 0 0 rg BT 143.49 138.75 Td (estimates ) Tj ET Q q 0 0 0 rg BT 183.27 138.75 Td (were ) Tj ET Q q 0 0 0 rg BT 205.27 138.75 Td (prepared ) Tj ET Q q 0 0 0 rg BT 242.81 138.75 Td (in ) Tj ET Q q 0 0 0 rg BT 253.16 138.75 Td (accordance ) Tj ET Q q 0 0 0 rg BT 300.69 138.75 Td (with ) Tj ET Q q 0 0 0 rg BT 321.03 138.75 Td (F) Tj ET Q q 0 0 0 rg BT 325.85 138.75 Td (ASC ) Tj ET Q q 0 0 0 rg BT 347.69 138.75 Td (T) Tj ET Q q 0 0 0 rg BT 353.10 138.75 Td (opic ) Tj ET Q q 0 0 0 rg BT 372.88 138.75 Td (932, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 392.95 138.75 Td (Extractive ) Tj ET Q q 0 0 0 rg BT 436.60 138.75 Td (Industries ) Tj ET Q q 0 0 0 rg BT 479.17 138.75 Td (� ) Tj ET Q q 0 0 0 rg BT 486.74 138.75 Td (Oil ) Tj ET Q q 0 0 0 rg BT 502.08 138.75 Td (and ) Tj ET Q q 0 0 0 rg BT 519.65 138.75 Td (Gas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.76 138.75 Td (, ) Tj ET Q q 0 0 0 rg BT 540.83 138.75 Td (using ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 126.75 Td (the ) Tj ET Q q 0 0 0 rg BT 82.82 126.75 Td (arithmetic ) Tj ET Q q 0 0 0 rg BT 126.46 126.75 Td (averages ) Tj ET Q q 0 0 0 rg BT 164.54 126.75 Td (of ) Tj ET Q q 0 0 0 rg BT 175.97 126.75 Td (the ) Tj ET Q q 0 0 0 rg BT 191.29 126.75 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 284.37 126.75 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 324.13 126.75 Td (commodity ) Tj ET Q q 0 0 0 rg BT 372.79 126.75 Td (price ) Tj ET Q q 0 0 0 rg BT 395.88 126.75 Td (for ) Tj ET Q q 0 0 0 rg BT 410.64 126.75 Td (each ) Tj ET Q q 0 0 0 rg BT 432.06 126.75 Td (month ) Tj ET Q q 0 0 0 rg BT 460.72 126.75 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.93 126.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.93 126.75 Td (, ) Tj ET Q q 0 0 0 rg BT 515.53 126.75 Td (which ) Tj ET Q q 0 0 0 rg BT 543.07 126.75 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 114.75 Td ($65.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.00 114.75 Td ( ) Tj ET Q q 0 0 0 rg BT 97.50 114.75 Td (per ) Tj ET Q q 0 0 0 rg BT 112.77 114.75 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 129.72 114.75 Td (for ) Tj ET Q q 0 0 0 rg BT 143.88 114.75 Td (crude ) Tj ET Q q 0 0 0 rg BT 168.58 114.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 181.64 114.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.58 114.75 Td ($3.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.08 114.75 Td ( ) Tj ET Q q 0 0 0 rg BT 223.58 114.75 Td (per ) Tj ET Q q 0 0 0 rg BT 238.85 114.75 Td (MMBtu ) Tj ET Q q 0 0 0 rg BT 273.58 114.75 Td (for ) Tj ET Q q 0 0 0 rg BT 287.74 114.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 318.00 114.75 Td (gas. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.75 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 90.75 Td (Mature ) Tj ET Q q 0 0 0 rg BT 98.81 90.75 Td (properties ) Tj ET Q q 0 0 0 rg BT 141.22 90.75 Td (include ) Tj ET Q q 0 0 0 rg BT 173.08 90.75 Td (Brookhaven, ) Tj ET Q q 0 0 0 rg BT 226.89 90.75 Td (Cranfield, ) Tj ET Q q 0 0 0 rg BT 269.58 90.75 Td (Eucutta, ) Tj ET Q q 0 0 0 rg BT 305.05 90.75 Td (Little ) Tj ET Q q 0 0 0 rg BT 329.14 90.75 Td (Creek, ) Tj ET Q q 0 0 0 rg BT 357.95 90.75 Td (Mallalieu, ) Tj ET Q q 0 0 0 rg BT 401.20 90.75 Td (Martinville, ) Tj ET Q q 0 0 0 rg BT 451.12 90.75 Td (McComb ) Tj ET Q q 0 0 0 rg BT 491.33 90.75 Td (and ) Tj ET Q q 0 0 0 rg BT 508.19 90.75 Td (Soso ) Tj ET Q q 0 0 0 rg BT 530.08 90.75 Td (fields ) Tj ET Q q 0 0 0 rg BT 554.72 90.75 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 78.75 Td (Mississippi.) Tj ET Q endstream endobj 27 0 obj <> endobj 28 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 726.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.55 726.60 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 111.92 726.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 137.75 726.60 Td (Anticline ) Tj ET Q q 0 0 0 rg BT 177.46 726.60 Td (consists ) Tj ET Q q 0 0 0 rg BT 211.63 726.60 Td (of ) Tj ET Q q 0 0 0 rg BT 222.46 726.60 Td (a ) Tj ET Q q 0 0 0 rg BT 229.40 726.60 Td (series ) Tj ET Q q 0 0 0 rg BT 254.67 726.60 Td (of ) Tj ET Q q 0 0 0 rg BT 265.50 726.60 Td (14 ) Tj ET Q q 0 0 0 rg BT 278.00 726.60 Td (dif) Tj ET Q q 0 0 0 rg BT 288.93 726.60 Td (ferent ) Tj ET Q q 0 0 0 rg BT 314.74 726.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 355.00 726.60 Td (areas.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.60 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 702.60 Td (Includes ) Tj ET Q q 0 0 0 rg BT 104.42 702.60 Td (production ) Tj ET Q q 0 0 0 rg BT 150.79 702.60 Td (from ) Tj ET Q q 0 0 0 rg BT 173.28 702.60 Td (Lockhart ) Tj ET Q q 0 0 0 rg BT 212.42 702.60 Td (Crossing ) Tj ET Q q 0 0 0 rg BT 251.03 702.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 274.63 702.60 Td (sold ) Tj ET Q q 0 0 0 rg BT 294.34 702.60 Td (in ) Tj ET Q q 0 0 0 rg BT 305.17 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 320.43 702.60 Td (third ) Tj ET Q q 0 0 0 rg BT 342.36 702.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 373.72 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 385.10 702.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 410.65 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 425.91 702.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 462.84 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 474.21 702.60 Td (which ) Tj ET Q q 0 0 0 rg BT 501.70 702.60 Td (was ) Tj ET Q q 0 0 0 rg BT 520.29 702.60 Td (previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 690.60 Td (included ) Tj ET Q q 0 0 0 rg BT 104.43 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 114.71 690.60 Td (�Mature ) Tj ET Q q 0 0 0 rg BT 149.42 690.60 Td (properties�) Tj ET Q q 0 0 0 rg BT 191.99 690.60 Td ( ) Tj ET Q q 0 0 0 rg BT 194.49 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 204.77 690.60 Td (the ) Tj ET Q q 0 0 0 rg BT 219.49 690.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 240.32 690.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 265.60 690.60 Td (region.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 666.60 Td (Enhanced ) Tj ET Q q 0 0 0 rg BT 112.02 666.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 127.09 666.60 Td (Recovery ) Tj ET Q q 0 0 0 rg BT 168.80 666.60 Td (Overview) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 209.34 666.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.84 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 213.57 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 215.30 666.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 229.19 665.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.44 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 234.17 666.60 Td (used ) Tj ET Q q 0 0 0 rg BT 254.23 666.60 Td (in ) Tj ET Q q 0 0 0 rg BT 263.74 666.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 285.47 666.60 Td (is ) Tj ET Q q 0 0 0 rg BT 293.87 666.60 Td (one ) Tj ET Q q 0 0 0 rg BT 310.04 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 320.10 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 334.05 666.60 Td (most ) Tj ET Q q 0 0 0 rg BT 355.23 666.60 Td (ef) Tj ET Q q 0 0 0 rg BT 362.82 666.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 390.09 666.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 420.70 666.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 457.40 666.60 Td (mechanisms ) Tj ET Q q 0 0 0 rg BT 508.57 666.60 Td (for ) Tj ET Q q 0 0 0 rg BT 521.96 666.60 Td (producing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (crude ) Tj ET Q q 0 0 0 rg BT 74.61 654.60 Td (oil.��) Tj ET Q q 0 0 0 rg BT 92.49 654.60 Td (When ) Tj ET Q q 0 0 0 rg BT 119.28 654.60 Td (injected ) Tj ET Q q 0 0 0 rg BT 153.83 654.60 Td (under ) Tj ET Q q 0 0 0 rg BT 179.51 654.60 Td (pressure ) Tj ET Q q 0 0 0 rg BT 215.74 654.60 Td (into ) Tj ET Q q 0 0 0 rg BT 234.20 654.60 Td (under) Tj ET Q q 0 0 0 rg BT 256.79 654.60 Td (ground, ) Tj ET Q q 0 0 0 rg BT 290.53 654.60 Td (oil-bearing ) Tj ET Q q 0 0 0 rg BT 337.31 654.60 Td (rock ) Tj ET Q q 0 0 0 rg BT 357.98 654.60 Td (formations, ) Tj ET Q q 0 0 0 rg BT 406.72 654.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 420.61 653.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.86 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 426.77 654.60 Td (acts ) Tj ET Q q 0 0 0 rg BT 445.22 654.60 Td (somewhat ) Tj ET Q q 0 0 0 rg BT 488.67 654.60 Td (like ) Tj ET Q q 0 0 0 rg BT 506.58 654.60 Td (a ) Tj ET Q q 0 0 0 rg BT 513.92 654.60 Td (solvent ) Tj ET Q q 0 0 0 rg BT 545.72 654.60 Td (as ) Tj ET Q q 0 0 0 rg BT 556.96 654.60 Td (it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (travels ) Tj ET Q q 0 0 0 rg BT 78.93 642.60 Td (through ) Tj ET Q q 0 0 0 rg BT 112.82 642.60 Td (the ) Tj ET Q q 0 0 0 rg BT 127.81 642.60 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 166.13 642.60 Td (rock, ) Tj ET Q q 0 0 0 rg BT 189.17 642.60 Td (mixing ) Tj ET Q q 0 0 0 rg BT 220.29 642.60 Td (with ) Tj ET Q q 0 0 0 rg BT 240.84 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 258.06 642.60 Td (modifying ) Tj ET Q q 0 0 0 rg BT 302.50 642.60 Td (the ) Tj ET Q q 0 0 0 rg BT 317.49 642.60 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 377.46 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 388.57 642.60 Td (the ) Tj ET Q q 0 0 0 rg BT 403.56 642.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 416.89 642.60 Td (so ) Tj ET Q q 0 0 0 rg BT 428.56 642.60 Td (it ) Tj ET Q q 0 0 0 rg BT 436.90 642.60 Td (can ) Tj ET Q q 0 0 0 rg BT 453.55 642.60 Td (be ) Tj ET Q q 0 0 0 rg BT 465.77 642.60 Td (produced ) Tj ET Q q 0 0 0 rg BT 505.75 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 522.97 642.60 Td (sold.��) Tj ET Q q 0 0 0 rg BT 546.96 642.60 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (terms ) Tj ET Q q 0 0 0 rg BT 74.22 630.60 Td (�tertiary ) Tj ET Q q 0 0 0 rg BT 110.03 630.60 Td (flood,� ) Tj ET Q q 0 0 0 rg BT 140.57 630.60 Td (�CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 158.90 629.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.15 630.60 Td ( ) Tj ET Q q 0 0 0 rg BT 164.65 630.60 Td (flood� ) Tj ET Q q 0 0 0 rg BT 192.70 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 209.64 630.60 Td (�CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 227.97 629.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.22 630.60 Td ( ) Tj ET Q q 0 0 0 rg BT 233.72 630.60 Td (EOR� ) Tj ET Q q 0 0 0 rg BT 260.66 630.60 Td (are ) Tj ET Q q 0 0 0 rg BT 275.36 630.60 Td (used ) Tj ET Q q 0 0 0 rg BT 296.19 630.60 Td (interchangeably ) Tj ET Q q 0 0 0 rg BT 362.55 630.60 Td (throughout ) Tj ET Q q 0 0 0 rg BT 408.94 630.60 Td (this ) Tj ET Q q 0 0 0 rg BT 425.89 630.60 Td (document.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 606.60 Td (While ) Tj ET Q q 0 0 0 rg BT 94.20 606.60 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 134.23 606.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 147.05 606.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 184.30 606.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 218.22 606.60 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 253.82 606.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 267.71 605.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.96 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 273.23 606.60 Td (have ) Tj ET Q q 0 0 0 rg BT 294.38 606.60 Td (been ) Tj ET Q q 0 0 0 rg BT 315.53 606.60 Td (successfully ) Tj ET Q q 0 0 0 rg BT 366.67 606.60 Td (performed ) Tj ET Q q 0 0 0 rg BT 410.59 606.60 Td (by ) Tj ET Q q 0 0 0 rg BT 422.86 606.60 Td (numerous ) Tj ET Q q 0 0 0 rg BT 464.56 606.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 477.39 606.60 Td (and ) Tj ET Q q 0 0 0 rg BT 494.10 606.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 509.70 606.60 Td (companies ) Tj ET Q q 0 0 0 rg BT 554.73 606.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (a ) Tj ET Q q 0 0 0 rg BT 57.38 594.60 Td (wide ) Tj ET Q q 0 0 0 rg BT 80.26 594.60 Td (range ) Tj ET Q q 0 0 0 rg BT 105.90 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 117.67 594.60 Td (oil-bearing ) Tj ET Q q 0 0 0 rg BT 164.99 594.60 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 207.85 594.60 Td (in ) Tj ET Q q 0 0 0 rg BT 219.07 594.60 Td (dif) Tj ET Q q 0 0 0 rg BT 230.00 594.60 Td (ferent ) Tj ET Q q 0 0 0 rg BT 256.76 594.60 Td (oil-producing ) Tj ET Q q 0 0 0 rg BT 314.63 594.60 Td (basins, ) Tj ET Q q 0 0 0 rg BT 345.57 594.60 Td (we ) Tj ET Q q 0 0 0 rg BT 360.67 594.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 392.98 594.60 Td (our ) Tj ET Q q 0 0 0 rg BT 409.75 594.60 Td (investments, ) Tj ET Q q 0 0 0 rg BT 463.46 594.60 Td (experience ) Tj ET Q q 0 0 0 rg BT 510.21 594.60 Td (and ) Tj ET Q q 0 0 0 rg BT 528.08 594.60 Td (acquired ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (knowledge ) Tj ET Q q 0 0 0 rg BT 95.98 582.60 Td (give ) Tj ET Q q 0 0 0 rg BT 115.80 582.60 Td (us ) Tj ET Q q 0 0 0 rg BT 127.29 582.60 Td (a ) Tj ET Q q 0 0 0 rg BT 134.33 582.60 Td (strategic ) Tj ET Q q 0 0 0 rg BT 170.81 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 187.85 582.60 Td (competitive ) Tj ET Q q 0 0 0 rg BT 237.66 582.60 Td (advantage ) Tj ET Q q 0 0 0 rg BT 280.79 582.60 Td (in ) Tj ET Q q 0 0 0 rg BT 291.17 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 305.99 582.60 Td (areas ) Tj ET Q q 0 0 0 rg BT 329.13 582.60 Td (in ) Tj ET Q q 0 0 0 rg BT 339.51 582.60 Td (which ) Tj ET Q q 0 0 0 rg BT 366.56 582.60 Td (we ) Tj ET Q q 0 0 0 rg BT 380.82 582.60 Td (operate. ) Tj ET Q q 0 0 0 rg BT 415.34 582.60 Td ( ) Tj ET Q q 0 0 0 rg BT 417.76 582.60 Td (W) Tj ET Q q 0 0 0 rg BT 426.40 582.60 Td (e ) Tj ET Q q 0 0 0 rg BT 433.44 582.60 Td (apply ) Tj ET Q q 0 0 0 rg BT 458.26 582.60 Td (what ) Tj ET Q q 0 0 0 rg BT 480.30 582.60 Td (we ) Tj ET Q q 0 0 0 rg BT 494.56 582.60 Td (have ) Tj ET Q q 0 0 0 rg BT 516.04 582.60 Td (learned ) Tj ET Q q 0 0 0 rg BT 548.07 582.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (developed ) Tj ET Q q 0 0 0 rg BT 93.09 570.60 Td (over ) Tj ET Q q 0 0 0 rg BT 113.36 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 128.08 570.60 Td (years ) Tj ET Q q 0 0 0 rg BT 151.68 570.60 Td (to ) Tj ET Q q 0 0 0 rg BT 161.96 570.60 Td (improve ) Tj ET Q q 0 0 0 rg BT 197.78 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 214.72 570.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 249.97 570.60 Td (sweep ) Tj ET Q q 0 0 0 rg BT 277.46 570.60 Td (ef) Tj ET Q q 0 0 0 rg BT 285.05 570.60 Td (ficiency ) Tj ET Q q 0 0 0 rg BT 319.75 570.60 Td (within ) Tj ET Q q 0 0 0 rg BT 347.81 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 362.53 570.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 376.42 569.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.67 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 382.17 570.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 404.67 570.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 438.82 570.60 Td (we ) Tj ET Q q 0 0 0 rg BT 452.98 570.60 Td (operate.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 546.60 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 546.60 Td (e ) Tj ET Q q 0 0 0 rg BT 83.11 546.60 Td (began ) Tj ET Q q 0 0 0 rg BT 109.53 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 125.40 546.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 139.29 545.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.54 546.60 Td ( ) Tj ET Q q 0 0 0 rg BT 145.08 546.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 189.27 546.60 Td (in ) Tj ET Q q 0 0 0 rg BT 199.03 546.60 Td (August ) Tj ET Q q 0 0 0 rg BT 230.46 546.60 Td (1999, ) Tj ET Q q 0 0 0 rg BT 255.49 546.60 Td (when ) Tj ET Q q 0 0 0 rg BT 279.69 546.60 Td (we ) Tj ET Q q 0 0 0 rg BT 293.89 546.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 330.85 546.60 Td (Little ) Tj ET Q q 0 0 0 rg BT 355.05 546.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 381.47 546.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 407.06 546.60 Td (followed ) Tj ET Q q 0 0 0 rg BT 445.15 546.60 Td (by ) Tj ET Q q 0 0 0 rg BT 457.68 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 473.55 546.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 519.97 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 530.84 546.60 Td (Jackson ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 75.76 534.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 89.65 533.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.90 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 94.73 534.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 129.31 534.60 Td (and ) Tj ET Q q 0 0 0 rg BT 145.57 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 159.61 534.60 Td (NEJD ) Tj ET Q q 0 0 0 rg BT 185.88 534.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 219.92 534.60 Td (in ) Tj ET Q q 0 0 0 rg BT 229.52 534.60 Td (2001.��Based ) Tj ET Q q 0 0 0 rg BT 283.28 534.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 305.10 534.60 Td (our ) Tj ET Q q 0 0 0 rg BT 320.26 534.60 Td (success ) Tj ET Q q 0 0 0 rg BT 352.07 534.60 Td (at ) Tj ET Q q 0 0 0 rg BT 361.11 534.60 Td (Little ) Tj ET Q q 0 0 0 rg BT 384.60 534.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 410.30 534.60 Td (and ) Tj ET Q q 0 0 0 rg BT 426.56 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 440.60 534.60 Td (ownership ) Tj ET Q q 0 0 0 rg BT 484.08 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 494.24 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 508.28 534.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 522.17 533.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.42 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 527.24 534.60 Td (reserves, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (we ) Tj ET Q q 0 0 0 rg BT 63.25 522.60 Td (began ) Tj ET Q q 0 0 0 rg BT 89.21 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 99.07 522.60 Td (transition ) Tj ET Q q 0 0 0 rg BT 138.93 522.60 Td (our ) Tj ET Q q 0 0 0 rg BT 154.35 522.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 183.09 522.60 Td (spending ) Tj ET Q q 0 0 0 rg BT 221.28 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 237.81 522.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 283.78 522.60 Td (ef) Tj ET Q q 0 0 0 rg BT 291.36 522.60 Td (forts ) Tj ET Q q 0 0 0 rg BT 311.78 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 321.65 522.60 Td (focus ) Tj ET Q q 0 0 0 rg BT 345.39 522.60 Td (more ) Tj ET Q q 0 0 0 rg BT 368.02 522.60 Td (heavily ) Tj ET Q q 0 0 0 rg BT 399.54 522.60 Td (on ) Tj ET Q q 0 0 0 rg BT 411.63 522.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 425.52 521.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.77 522.60 Td ( ) Tj ET Q q 0 0 0 rg BT 430.86 522.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 452.95 522.60 Td (and, ) Tj ET Q q 0 0 0 rg BT 471.97 522.60 Td (over ) Tj ET Q q 0 0 0 rg BT 491.83 522.60 Td (time, ) Tj ET Q q 0 0 0 rg BT 514.19 522.60 Td (transformed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (our ) Tj ET Q q 0 0 0 rg BT 65.94 510.60 Td (strategy ) Tj ET Q q 0 0 0 rg BT 100.71 510.60 Td (to ) Tj ET Q q 0 0 0 rg BT 111.60 510.60 Td (focus ) Tj ET Q q 0 0 0 rg BT 136.38 510.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 176.70 510.60 Td (on ) Tj ET Q q 0 0 0 rg BT 189.81 510.60 Td (owning ) Tj ET Q q 0 0 0 rg BT 222.93 510.60 Td (and ) Tj ET Q q 0 0 0 rg BT 240.48 510.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 281.35 510.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 295.02 510.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 320.35 510.60 Td (that ) Tj ET Q q 0 0 0 rg BT 338.46 510.60 Td (are ) Tj ET Q q 0 0 0 rg BT 353.78 510.60 Td (well ) Tj ET Q q 0 0 0 rg BT 374.11 510.60 Td (suited ) Tj ET Q q 0 0 0 rg BT 401.11 510.60 Td (for ) Tj ET Q q 0 0 0 rg BT 415.88 510.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 429.77 509.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.02 510.60 Td ( ) Tj ET Q q 0 0 0 rg BT 436.14 510.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 459.25 510.60 Td (projects. ) Tj ET Q q 0 0 0 rg BT 496.52 510.60 Td ( ) Tj ET Q q 0 0 0 rg BT 499.63 510.60 Td (Prior ) Tj ET Q q 0 0 0 rg BT 522.74 510.60 Td (to ) Tj ET Q q 0 0 0 rg BT 533.63 510.60 Td (tertiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (flooding, ) Tj ET Q q 0 0 0 rg BT 88.28 498.60 Td (we ) Tj ET Q q 0 0 0 rg BT 102.33 498.60 Td (strive ) Tj ET Q q 0 0 0 rg BT 126.94 498.60 Td (to ) Tj ET Q q 0 0 0 rg BT 137.11 498.60 Td (maximize ) Tj ET Q q 0 0 0 rg BT 178.93 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 193.54 498.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 232.03 498.60 Td (sizeable ) Tj ET Q q 0 0 0 rg BT 266.62 498.60 Td (primary ) Tj ET Q q 0 0 0 rg BT 300.67 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 317.50 498.60 Td (secondary ) Tj ET Q q 0 0 0 rg BT 360.43 498.60 Td (production ) Tj ET Q q 0 0 0 rg BT 406.15 498.60 Td (from ) Tj ET Q q 0 0 0 rg BT 427.98 498.60 Td (our ) Tj ET Q q 0 0 0 rg BT 443.70 498.60 Td (prospective ) Tj ET Q q 0 0 0 rg BT 492.19 498.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 523.46 498.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 548.06 498.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (from ) Tj ET Q q 0 0 0 rg BT 71.79 486.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 96.86 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 107.49 486.60 Td (which ) Tj ET Q q 0 0 0 rg BT 134.78 486.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 166.51 486.60 Td (floods ) Tj ET Q q 0 0 0 rg BT 194.36 486.60 Td (have ) Tj ET Q q 0 0 0 rg BT 216.09 486.60 Td (commenced ) Tj ET Q q 0 0 0 rg BT 267.26 486.60 Td (but ) Tj ET Q q 0 0 0 rg BT 282.89 486.60 Td (still ) Tj ET Q q 0 0 0 rg BT 300.75 486.60 Td (contain ) Tj ET Q q 0 0 0 rg BT 333.03 486.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 378.10 486.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 428.15 486.60 Td (production.��Our ) Tj ET Q q 0 0 0 rg BT 497.38 486.60 Td (asset ) Tj ET Q q 0 0 0 rg BT 519.67 486.60 Td (base ) Tj ET Q q 0 0 0 rg BT 540.29 486.60 Td (today ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (almost ) Tj ET Q q 0 0 0 rg BT 78.60 474.60 Td (entirely ) Tj ET Q q 0 0 0 rg BT 111.58 474.60 Td (consists ) Tj ET Q q 0 0 0 rg BT 145.69 474.60 Td (of, ) Tj ET Q q 0 0 0 rg BT 158.95 474.60 Td (or ) Tj ET Q q 0 0 0 rg BT 169.72 474.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 211.03 474.60 Td (relates ) Tj ET Q q 0 0 0 rg BT 239.56 474.60 Td (to, ) Tj ET Q q 0 0 0 rg BT 252.28 474.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 265.27 474.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 289.92 474.60 Td (that ) Tj ET Q q 0 0 0 rg BT 307.36 474.60 Td (we ) Tj ET Q q 0 0 0 rg BT 321.45 474.60 Td (are ) Tj ET Q q 0 0 0 rg BT 336.10 474.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 374.63 474.60 Td (flooding ) Tj ET Q q 0 0 0 rg BT 410.95 474.60 Td (with ) Tj ET Q q 0 0 0 rg BT 431.17 474.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 445.06 473.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.31 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 450.74 474.60 Td (or ) Tj ET Q q 0 0 0 rg BT 461.51 474.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 481.16 474.60 Td (to ) Tj ET Q q 0 0 0 rg BT 491.38 474.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 514.92 474.60 Td (with ) Tj ET Q q 0 0 0 rg BT 535.14 474.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 549.03 473.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.28 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 554.71 474.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 462.60 Td (future, ) Tj ET Q q 0 0 0 rg BT 93.09 462.60 Td (or ) Tj ET Q q 0 0 0 rg BT 103.92 462.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 129.75 462.60 Td (that ) Tj ET Q q 0 0 0 rg BT 147.25 462.60 Td (produce ) Tj ET Q q 0 0 0 rg BT 181.96 462.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 195.85 461.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.10 462.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 438.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 86.51 438.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 118.84 438.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 163.96 438.60 Td (have ) Tj ET Q q 0 0 0 rg BT 186.29 438.60 Td (grown ) Tj ET Q q 0 0 0 rg BT 215.31 438.60 Td (so ) Tj ET Q q 0 0 0 rg BT 227.66 438.60 Td (that ) Tj ET Q q 0 0 0 rg BT 246.11 438.60 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.23 438.60 Td (58%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.56 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 283.02 438.60 Td (of ) Tj ET Q q 0 0 0 rg BT 294.81 438.60 Td (our ) Tj ET Q q 0 0 0 rg BT 311.60 438.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 342.83 438.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 379.05 438.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.72 438.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 449.27 438.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.27 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 472.72 438.60 Td (are ) Tj ET Q q 0 0 0 rg BT 488.39 438.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 519.62 438.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 551.95 438.60 Td (oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (reserves; ) Tj ET Q q 0 0 0 rg BT 87.78 426.60 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.19 426.60 Td (63%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.52 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 123.26 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 134.34 426.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.42 426.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.42 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 173.16 426.60 Td (total ) Tj ET Q q 0 0 0 rg BT 193.68 426.60 Td (production ) Tj ET Q q 0 0 0 rg BT 239.75 426.60 Td (was ) Tj ET Q q 0 0 0 rg BT 258.05 426.60 Td (related ) Tj ET Q q 0 0 0 rg BT 288.00 426.60 Td (to ) Tj ET Q q 0 0 0 rg BT 298.52 426.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 330.14 426.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 343.44 426.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 387.84 426.60 Td (\(on ) Tj ET Q q 0 0 0 rg BT 403.92 426.60 Td (a ) Tj ET Q q 0 0 0 rg BT 411.10 426.60 Td (BOE ) Tj ET Q q 0 0 0 rg BT 433.85 426.60 Td (basis\); ) Tj ET Q q 0 0 0 rg BT 462.70 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 479.88 426.60 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 494.29 426.60 Td (62%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 512.62 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 515.37 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 526.44 426.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.52 426.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 78.34 414.60 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 131.62 414.60 Td (\(excluding ) Tj ET Q q 0 0 0 rg BT 176.58 414.60 Td (acquisitions\) ) Tj ET Q q 0 0 0 rg BT 229.87 414.60 Td (were ) Tj ET Q q 0 0 0 rg BT 251.49 414.60 Td (related ) Tj ET Q q 0 0 0 rg BT 280.88 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 290.85 414.60 Td (our ) Tj ET Q q 0 0 0 rg BT 306.37 414.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 337.43 414.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 350.18 414.60 Td (operations.��) Tj ET Q q 0 0 0 rg BT 398.78 414.60 Td (At ) Tj ET Q q 0 0 0 rg BT 410.97 414.60 Td (year) Tj ET Q q 0 0 0 rg BT 427.98 414.60 Td (-end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.94 414.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.94 414.60 Td (, ) Tj ET Q q 0 0 0 rg BT 472.63 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 487.03 414.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 516.99 414.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 529.74 414.60 Td (reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (in ) Tj ET Q q 0 0 0 rg BT 59.34 402.60 Td (our ) Tj ET Q q 0 0 0 rg BT 74.73 402.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 105.67 402.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 142.71 402.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 155.33 402.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 179.61 402.60 Td (had ) Tj ET Q q 0 0 0 rg BT 196.11 402.60 Td (an ) Tj ET Q q 0 0 0 rg BT 207.61 402.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 247.99 402.60 Td (PV) Tj ET Q q 0 0 0 rg BT 259.86 402.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 275.10 402.60 Td (V) Tj ET Q q 0 0 0 rg BT 281.22 402.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 299.93 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 310.33 402.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 370.15 402.60 Td ($2.7 ) Tj ET Q q 0 0 0 rg BT 389.71 402.60 Td (billion, ) Tj ET Q q 0 0 0 rg BT 420.39 402.60 Td (or ) Tj ET Q q 0 0 0 rg BT 430.78 402.60 Td (67% ) Tj ET Q q 0 0 0 rg BT 451.17 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 461.57 402.60 Td (our ) Tj ET Q q 0 0 0 rg BT 476.96 402.60 Td (total ) Tj ET Q q 0 0 0 rg BT 496.80 402.60 Td (PV) Tj ET Q q 0 0 0 rg BT 508.66 402.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 523.91 402.60 Td (V) Tj ET Q q 0 0 0 rg BT 530.02 402.60 Td (alue.��In ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (addition, ) Tj ET Q q 0 0 0 rg BT 87.19 390.60 Td (there ) Tj ET Q q 0 0 0 rg BT 109.59 390.60 Td (are ) Tj ET Q q 0 0 0 rg BT 124.21 390.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 168.84 390.60 Td (probable ) Tj ET Q q 0 0 0 rg BT 206.24 390.60 Td (and ) Tj ET Q q 0 0 0 rg BT 223.10 390.60 Td (possible ) Tj ET Q q 0 0 0 rg BT 258.29 390.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 293.47 390.60 Td (at ) Tj ET Q q 0 0 0 rg BT 303.10 390.60 Td (several ) Tj ET Q q 0 0 0 rg BT 333.83 390.60 Td (other ) Tj ET Q q 0 0 0 rg BT 356.79 390.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 381.43 390.60 Td (for ) Tj ET Q q 0 0 0 rg BT 395.50 390.60 Td (which ) Tj ET Q q 0 0 0 rg BT 422.36 390.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 453.65 390.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 497.72 390.60 Td (are ) Tj ET Q q 0 0 0 rg BT 512.34 390.60 Td (underway ) Tj ET Q q 0 0 0 rg BT 554.18 390.60 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (planned.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 354.60 Td (Although ) Tj ET Q q 0 0 0 rg BT 108.41 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 123.76 354.60 Td (up-front ) Tj ET Q q 0 0 0 rg BT 159.67 354.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 178.91 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 190.37 354.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 222.38 354.60 Td (production ) Tj ET Q q 0 0 0 rg BT 268.84 354.60 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 325.83 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 343.40 354.60 Td (time ) Tj ET Q q 0 0 0 rg BT 364.31 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 375.22 354.60 Td (construct ) Tj ET Q q 0 0 0 rg BT 415.01 354.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 454.25 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 471.82 354.60 Td (production ) Tj ET Q q 0 0 0 rg BT 518.28 354.60 Td (facilities ) Tj ET Q q 0 0 0 rg BT 555.84 354.60 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (greater ) Tj ET Q q 0 0 0 rg BT 78.96 342.60 Td (than ) Tj ET Q q 0 0 0 rg BT 97.87 342.60 Td (in ) Tj ET Q q 0 0 0 rg BT 107.35 342.60 Td (primary ) Tj ET Q q 0 0 0 rg BT 140.71 342.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 152.97 342.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 189.65 342.60 Td (in ) Tj ET Q q 0 0 0 rg BT 199.13 342.60 Td (most ) Tj ET Q q 0 0 0 rg BT 220.28 342.60 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 281.12 342.60 Td (we ) Tj ET Q q 0 0 0 rg BT 294.48 342.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 325.05 342.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 355.63 342.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 392.31 342.60 Td (has ) Tj ET Q q 0 0 0 rg BT 407.34 342.60 Td (several ) Tj ET Q q 0 0 0 rg BT 437.35 342.60 Td (favorable, ) Tj ET Q q 0 0 0 rg BT 479.31 342.60 Td (of) Tj ET Q q 0 0 0 rg BT 487.46 342.60 Td (fsetting ) Tj ET Q q 0 0 0 rg BT 519.16 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 535.30 342.60 Td (unique ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (attributes, ) Tj ET Q q 0 0 0 rg BT 92.53 330.60 Td (including ) Tj ET Q q 0 0 0 rg BT 133.63 330.60 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 148.61 330.60 Td (a ) Tj ET Q q 0 0 0 rg BT 156.38 330.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 182.47 330.60 Td (exploration ) Tj ET Q q 0 0 0 rg BT 231.33 330.60 Td (risk, ) Tj ET Q q 0 0 0 rg BT 252.15 330.60 Td (as ) Tj ET Q q 0 0 0 rg BT 263.81 330.60 Td (we ) Tj ET Q q 0 0 0 rg BT 278.79 330.60 Td (are ) Tj ET Q q 0 0 0 rg BT 294.32 330.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 335.41 330.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 349.29 330.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 374.82 330.60 Td (that ) Tj ET Q q 0 0 0 rg BT 393.14 330.60 Td (have ) Tj ET Q q 0 0 0 rg BT 415.34 330.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 460.88 330.60 Td (historical ) Tj ET Q q 0 0 0 rg BT 501.41 330.60 Td (production ) Tj ET Q q 0 0 0 rg BT 548.06 330.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.60 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 87.44 318.60 Td (and ) Tj ET Q q 0 0 0 rg BT 104.27 318.60 Td (geological ) Tj ET Q q 0 0 0 rg BT 148.32 318.60 Td (data, ) Tj ET Q q 0 0 0 rg BT 169.88 318.60 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 183.94 318.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 209.10 318.60 Td (production ) Tj ET Q q 0 0 0 rg BT 254.83 318.60 Td (decline ) Tj ET Q q 0 0 0 rg BT 286.10 318.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 307.37 318.60 Td (than ) Tj ET Q q 0 0 0 rg BT 326.99 318.60 Td (unconventional ) Tj ET Q q 0 0 0 rg BT 391.04 318.60 Td (development, ) Tj ET Q q 0 0 0 rg BT 447.59 318.60 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 461.65 318.60 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 506.80 318.60 Td (return ) Tj ET Q q 0 0 0 rg BT 533.08 318.60 Td (metrics ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (at ) Tj ET Q q 0 0 0 rg BT 59.84 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 76.29 306.60 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 123.29 306.60 Td (long-term ) Tj ET Q q 0 0 0 rg BT 165.84 306.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 195.34 306.60 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 210.13 306.60 Td (limited ) Tj ET Q q 0 0 0 rg BT 241.58 306.60 Td (competition ) Tj ET Q q 0 0 0 rg BT 292.48 306.60 Td (for ) Tj ET Q q 0 0 0 rg BT 307.26 306.60 Td (this ) Tj ET Q q 0 0 0 rg BT 324.83 306.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 362.93 306.60 Td (method ) Tj ET Q q 0 0 0 rg BT 396.05 306.60 Td (in ) Tj ET Q q 0 0 0 rg BT 406.95 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 423.41 306.60 Td (geographic ) Tj ET Q q 0 0 0 rg BT 470.96 306.60 Td (regions ) Tj ET Q q 0 0 0 rg BT 503.52 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 521.08 306.60 Td (a ) Tj ET Q q 0 0 0 rg BT 528.64 306.60 Td (strategic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (advantage ) Tj ET Q q 0 0 0 rg BT 92.96 294.60 Td (due ) Tj ET Q q 0 0 0 rg BT 110.33 294.60 Td (to ) Tj ET Q q 0 0 0 rg BT 121.04 294.60 Td (our ) Tj ET Q q 0 0 0 rg BT 137.30 294.60 Td (ownership ) Tj ET Q q 0 0 0 rg BT 181.89 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 193.15 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 208.29 294.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 222.19 293.17 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.34 294.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 263.03 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 280.40 294.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 294.29 293.17 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.44 294.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 334.58 294.60 Td (infrastructure, ) Tj ET Q q 0 0 0 rg BT 393.88 294.60 Td (\(5\) ) Tj ET Q q 0 0 0 rg BT 408.46 294.60 Td (our ) Tj ET Q q 0 0 0 rg BT 424.72 294.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 447.65 294.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 492.24 294.60 Td (are ) Tj ET Q q 0 0 0 rg BT 507.38 294.60 Td (generally ) Tj ET Q q 0 0 0 rg BT 547.51 294.60 Td (less ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (disruptive ) Tj ET Q q 0 0 0 rg BT 91.50 282.60 Td (to ) Tj ET Q q 0 0 0 rg BT 101.29 282.60 Td (new ) Tj ET Q q 0 0 0 rg BT 119.96 282.60 Td (habitats ) Tj ET Q q 0 0 0 rg BT 153.07 282.60 Td (in ) Tj ET Q q 0 0 0 rg BT 162.86 282.60 Td (comparison ) Tj ET Q q 0 0 0 rg BT 211.52 282.60 Td (to ) Tj ET Q q 0 0 0 rg BT 221.31 282.60 Td (other ) Tj ET Q q 0 0 0 rg BT 243.86 282.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 256.43 282.60 Td (and ) Tj ET Q q 0 0 0 rg BT 272.87 282.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 302.65 282.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 317.98 282.60 Td (development ) Tj ET Q q 0 0 0 rg BT 371.64 282.60 Td (because ) Tj ET Q q 0 0 0 rg BT 405.30 282.60 Td (we ) Tj ET Q q 0 0 0 rg BT 418.97 282.60 Td (further ) Tj ET Q q 0 0 0 rg BT 448.18 282.60 Td (develop ) Tj ET Q q 0 0 0 rg BT 481.84 282.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 515.52 282.60 Td (\(as ) Tj ET Q q 0 0 0 rg BT 529.19 282.60 Td (opposed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 59.57 270.60 Td (new\) ) Tj ET Q q 0 0 0 rg BT 81.85 270.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 94.70 270.60 Td (fields, ) Tj ET Q q 0 0 0 rg BT 121.71 270.60 Td (and ) Tj ET Q q 0 0 0 rg BT 138.44 270.60 Td (\(6\) ) Tj ET Q q 0 0 0 rg BT 152.39 270.60 Td (through ) Tj ET Q q 0 0 0 rg BT 185.79 270.60 Td (our ) Tj ET Q q 0 0 0 rg BT 201.41 270.60 Td (oil-producing ) Tj ET Q q 0 0 0 rg BT 258.14 270.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 280.43 270.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 326.87 270.60 Td (we ) Tj ET Q q 0 0 0 rg BT 340.83 270.60 Td (concurrently ) Tj ET Q q 0 0 0 rg BT 393.65 270.60 Td (store ) Tj ET Q q 0 0 0 rg BT 415.38 270.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 429.27 269.17 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.01 270.60 Td (captured ) Tj ET Q q 0 0 0 rg BT 470.73 270.60 Td (from ) Tj ET Q q 0 0 0 rg BT 492.46 270.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 532.52 270.60 Td (sources) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (in ) Tj ET Q q 0 0 0 rg BT 59.78 258.60 Td (the ) Tj ET Q q 0 0 0 rg BT 74.50 258.60 Td (same ) Tj ET Q q 0 0 0 rg BT 97.54 258.60 Td (under) Tj ET Q q 0 0 0 rg BT 120.13 258.60 Td (ground ) Tj ET Q q 0 0 0 rg BT 150.96 258.60 Td (formations ) Tj ET Q q 0 0 0 rg BT 196.79 258.60 Td (that ) Tj ET Q q 0 0 0 rg BT 214.28 258.60 Td (previously ) Tj ET Q q 0 0 0 rg BT 259.00 258.60 Td (trapped ) Tj ET Q q 0 0 0 rg BT 291.48 258.60 Td (and ) Tj ET Q q 0 0 0 rg BT 308.42 258.60 Td (stored ) Tj ET Q q 0 0 0 rg BT 335.36 258.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 348.42 258.60 Td (and ) Tj ET Q q 0 0 0 rg BT 365.35 258.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 395.62 258.60 Td (gas.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.25 234.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 87.18 234.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 103.01 234.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 113.38 234.60 Td (operties) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 70.89 210.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 96.73 210.60 Td (Region) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 186.60 Td (CO) Tj ET Q BT /F4 10.00 Tf ET BT /F4 6.50 Tf ET q 0 0 0 rg BT 63.39 185.17 Td (2) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 66.64 186.60 Td (�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.39 186.60 Td (Sour) Tj ET Q q 0 0 0 rg BT 86.91 186.60 Td (ces ) Tj ET Q q 0 0 0 rg BT 102.18 186.60 Td (and ) Tj ET Q q 0 0 0 rg BT 119.68 186.60 Td (Pipelines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 162.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 105.34 162.60 Td (Dome.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 132.83 162.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.71 162.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 157.64 162.60 Td (primary ) Tj ET Q q 0 0 0 rg BT 192.68 162.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 214.39 162.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 240.56 162.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 254.45 161.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.70 162.60 Td ( ) Tj ET Q q 0 0 0 rg BT 261.08 162.60 Td (source, ) Tj ET Q q 0 0 0 rg BT 293.06 162.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 328.10 162.60 Td (Dome, ) Tj ET Q q 0 0 0 rg BT 358.43 162.60 Td (located ) Tj ET Q q 0 0 0 rg BT 390.68 162.60 Td (near ) Tj ET Q q 0 0 0 rg BT 411.27 162.60 Td (Jackson, ) Tj ET Q q 0 0 0 rg BT 448.81 162.60 Td (Mississippi, ) Tj ET Q q 0 0 0 rg BT 500.27 162.60 Td (was ) Tj ET Q q 0 0 0 rg BT 519.20 162.60 Td (discovered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td (during ) Tj ET Q q 0 0 0 rg BT 77.50 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 91.62 150.60 Td (1970s ) Tj ET Q q 0 0 0 rg BT 117.40 150.60 Td (by ) Tj ET Q q 0 0 0 rg BT 129.30 150.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 141.75 150.60 Td (and ) Tj ET Q q 0 0 0 rg BT 158.09 150.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 173.31 150.60 Td (companies ) Tj ET Q q 0 0 0 rg BT 217.97 150.60 Td (that ) Tj ET Q q 0 0 0 rg BT 234.86 150.60 Td (were ) Tj ET Q q 0 0 0 rg BT 256.19 150.60 Td (exploring ) Tj ET Q q 0 0 0 rg BT 296.41 150.60 Td (for ) Tj ET Q q 0 0 0 rg BT 309.97 150.60 Td (hydrocarbons.��) Tj ET Q q 0 0 0 rg BT 371.71 150.60 Td (This ) Tj ET Q q 0 0 0 rg BT 391.39 150.60 Td (lar) Tj ET Q q 0 0 0 rg BT 401.76 150.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 413.09 150.60 Td (and ) Tj ET Q q 0 0 0 rg BT 429.42 150.60 Td (relatively ) Tj ET Q q 0 0 0 rg BT 469.08 150.60 Td (pure ) Tj ET Q q 0 0 0 rg BT 488.74 150.60 Td (source ) Tj ET Q q 0 0 0 rg BT 516.74 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 526.96 150.60 Td (naturally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (occurring ) Tj ET Q q 0 0 0 rg BT 90.39 138.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 104.28 137.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 107.53 138.60 Td ( ) Tj ET Q q 0 0 0 rg BT 110.11 138.60 Td (\(98% ) Tj ET Q q 0 0 0 rg BT 134.34 138.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 148.24 137.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.48 138.60 Td (\) ) Tj ET Q q 0 0 0 rg BT 157.39 138.60 Td (is, ) Tj ET Q q 0 0 0 rg BT 169.14 138.60 Td (to ) Tj ET Q q 0 0 0 rg BT 179.49 138.60 Td (our ) Tj ET Q q 0 0 0 rg BT 195.40 138.60 Td (knowledge, ) Tj ET Q q 0 0 0 rg BT 244.35 138.60 Td (the ) Tj ET Q q 0 0 0 rg BT 259.14 138.60 Td (only ) Tj ET Q q 0 0 0 rg BT 279.50 138.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 324.28 138.60 Td (under) Tj ET Q q 0 0 0 rg BT 346.87 138.60 Td (ground ) Tj ET Q q 0 0 0 rg BT 377.78 138.60 Td (deposit ) Tj ET Q q 0 0 0 rg BT 409.24 138.60 Td (of ) Tj ET Q q 0 0 0 rg BT 420.14 138.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 434.04 137.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.29 138.60 Td ( ) Tj ET Q q 0 0 0 rg BT 439.86 138.60 Td (in ) Tj ET Q q 0 0 0 rg BT 450.22 138.60 Td (the ) Tj ET Q q 0 0 0 rg BT 465.01 138.60 Td (United ) Tj ET Q q 0 0 0 rg BT 494.80 138.60 Td (States ) Tj ET Q q 0 0 0 rg BT 521.26 138.60 Td (east ) Tj ET Q q 0 0 0 rg BT 539.39 138.60 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 138.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.60 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 96.52 126.60 Td (River) Tj ET Q q 0 0 0 rg BT 118.18 126.60 Td (. ) Tj ET Q q 0 0 0 rg BT 122.13 126.60 Td ( ) Tj ET Q q 0 0 0 rg BT 123.47 126.60 Td (T) Tj ET Q q 0 0 0 rg BT 128.88 126.60 Td (ogether ) Tj ET Q q 0 0 0 rg BT 160.31 126.60 Td (with ) Tj ET Q q 0 0 0 rg BT 179.54 126.60 Td (the ) Tj ET Q q 0 0 0 rg BT 193.20 126.60 Td (related ) Tj ET Q q 0 0 0 rg BT 221.85 126.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 235.74 125.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.99 126.60 Td ( ) Tj ET Q q 0 0 0 rg BT 240.44 126.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 274.10 126.60 Td (infrastructure, ) Tj ET Q q 0 0 0 rg BT 331.91 126.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 365.01 126.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 390.90 126.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 426.78 126.60 Td (us ) Tj ET Q q 0 0 0 rg BT 437.12 126.60 Td (a ) Tj ET Q q 0 0 0 rg BT 443.01 126.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 486.67 126.60 Td (strategic ) Tj ET Q q 0 0 0 rg BT 521.99 126.60 Td (advantage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.60 Td (in ) Tj ET Q q 0 0 0 rg BT 59.78 114.60 Td (the ) Tj ET Q q 0 0 0 rg BT 74.50 114.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 120.88 114.60 Td (of ) Tj ET Q q 0 0 0 rg BT 131.71 114.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 174.19 114.60 Td (in ) Tj ET Q q 0 0 0 rg BT 184.47 114.60 Td (Mississippi, ) Tj ET Q q 0 0 0 rg BT 235.04 114.60 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 276.98 114.60 Td (and ) Tj ET Q q 0 0 0 rg BT 293.91 114.60 Td (southeastern ) Tj ET Q q 0 0 0 rg BT 346.22 114.60 Td (T) Tj ET Q q 0 0 0 rg BT 351.63 114.60 Td (exas ) Tj ET Q q 0 0 0 rg BT 371.90 114.60 Td (that ) Tj ET Q q 0 0 0 rg BT 389.39 114.60 Td (are ) Tj ET Q q 0 0 0 rg BT 404.10 114.60 Td (well ) Tj ET Q q 0 0 0 rg BT 423.82 114.60 Td (suited ) Tj ET Q q 0 0 0 rg BT 450.20 114.60 Td (for ) Tj ET Q q 0 0 0 rg BT 464.36 114.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 478.25 113.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.50 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 484.00 114.60 Td (EOR.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 90.60 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 90.60 Td (e ) Tj ET Q q 0 0 0 rg BT 82.58 90.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 119.01 90.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 152.68 90.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 179.13 90.60 Td (in ) Tj ET Q q 0 0 0 rg BT 188.91 90.60 Td (February ) Tj ET Q q 0 0 0 rg BT 227.02 90.60 Td (2001 ) Tj ET Q q 0 0 0 rg BT 249.02 90.60 Td (in ) Tj ET Q q 0 0 0 rg BT 258.81 90.60 Td (a ) Tj ET Q q 0 0 0 rg BT 265.25 90.60 Td (purchase ) Tj ET Q q 0 0 0 rg BT 302.80 90.60 Td (that ) Tj ET Q q 0 0 0 rg BT 319.80 90.60 Td (also ) Tj ET Q q 0 0 0 rg BT 337.92 90.60 Td (gave ) Tj ET Q q 0 0 0 rg BT 358.80 90.60 Td (us ) Tj ET Q q 0 0 0 rg BT 369.70 90.60 Td (ownership ) Tj ET Q q 0 0 0 rg BT 413.36 90.60 Td (and ) Tj ET Q q 0 0 0 rg BT 429.81 90.60 Td (control ) Tj ET Q q 0 0 0 rg BT 460.14 90.60 Td (of ) Tj ET Q q 0 0 0 rg BT 470.48 90.60 Td (the ) Tj ET Q q 0 0 0 rg BT 484.70 90.60 Td (NEJD ) Tj ET Q q 0 0 0 rg BT 511.15 90.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 525.04 89.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.29 90.60 Td ( ) Tj ET Q q 0 0 0 rg BT 530.30 90.60 Td (pipeline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 67.43 78.60 Td (provided ) Tj ET Q q 0 0 0 rg BT 106.47 78.60 Td (us ) Tj ET Q q 0 0 0 rg BT 118.85 78.60 Td (with ) Tj ET Q q 0 0 0 rg BT 140.13 78.60 Td (a ) Tj ET Q q 0 0 0 rg BT 148.06 78.60 Td (reliable ) Tj ET Q q 0 0 0 rg BT 181.53 78.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 211.69 78.60 Td (of ) Tj ET Q q 0 0 0 rg BT 223.52 78.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 237.41 77.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.66 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 244.15 78.60 Td (at ) Tj ET Q q 0 0 0 rg BT 254.86 78.60 Td (a ) Tj ET Q q 0 0 0 rg BT 262.79 78.60 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 309.04 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 326.97 78.60 Td (predictable ) Tj ET Q q 0 0 0 rg BT 374.88 78.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 394.48 78.60 Td (for ) Tj ET Q q 0 0 0 rg BT 409.63 78.60 Td (our ) Tj ET Q q 0 0 0 rg BT 426.46 78.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 448.28 78.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 474.55 78.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 488.44 77.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.69 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 495.18 78.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 527.55 78.60 Td (recovery ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.60 Td (operations.��Since ) Tj ET Q q 0 0 0 rg BT 124.65 66.60 Td (February ) Tj ET Q q 0 0 0 rg BT 164.52 66.60 Td (2001, ) Tj ET Q q 0 0 0 rg BT 190.79 66.60 Td (we ) Tj ET Q q 0 0 0 rg BT 206.22 66.60 Td (have ) Tj ET Q q 0 0 0 rg BT 228.87 66.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 267.07 66.60 Td (and ) Tj ET Q q 0 0 0 rg BT 285.28 66.60 Td (drilled ) Tj ET Q q 0 0 0 rg BT 315.16 66.60 Td (numerous ) Tj ET Q q 0 0 0 rg BT 358.37 66.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 372.26 65.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.51 66.60 Td (-producing ) Tj ET Q q 0 0 0 rg BT 423.16 66.60 Td (wells, ) Tj ET Q q 0 0 0 rg BT 450.54 66.60 Td (significantly ) Tj ET Q q 0 0 0 rg BT 504.30 66.60 Td (increasing ) Tj ET Q q 0 0 0 rg BT 549.17 66.60 Td (our ) Tj ET Q endstream endobj 29 0 obj <> endobj 30 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 89.39 726.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 118.74 726.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 138.64 726.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 162.99 726.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 176.88 725.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 180.13 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 181.71 726.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 216.04 726.60 Td (from ) Tj ET Q q 0 0 0 rg BT 237.05 726.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 296.38 726.60 Td (800 ) Tj ET Q q 0 0 0 rg BT 312.96 726.60 Td (Bcf ) Tj ET Q q 0 0 0 rg BT 328.97 726.60 Td (at ) Tj ET Q q 0 0 0 rg BT 337.76 726.60 Td (the ) Tj ET Q q 0 0 0 rg BT 351.55 726.60 Td (time ) Tj ET Q q 0 0 0 rg BT 370.90 726.60 Td (of ) Tj ET Q q 0 0 0 rg BT 380.80 726.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 426.26 726.60 Td (of ) Tj ET Q q 0 0 0 rg BT 436.16 726.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 469.40 726.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 495.41 726.60 Td (to ) Tj ET Q q 0 0 0 rg BT 504.76 726.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (5.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.00 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 64.07 714.60 Td (T) Tj ET Q q 0 0 0 rg BT 69.48 714.60 Td (cf ) Tj ET Q q 0 0 0 rg BT 79.47 714.60 Td (as ) Tj ET Q q 0 0 0 rg BT 90.03 714.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.59 714.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 158.90 714.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.90 714.60 Td (.��) Tj ET Q q 0 0 0 rg BT 186.22 714.60 Td (The ) Tj ET Q q 0 0 0 rg BT 204.00 714.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 233.99 714.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 247.88 713.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 251.13 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 253.36 714.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 284.46 714.60 Td (estimates ) Tj ET Q q 0 0 0 rg BT 323.90 714.60 Td (are ) Tj ET Q q 0 0 0 rg BT 338.33 714.60 Td (based ) Tj ET Q q 0 0 0 rg BT 363.33 714.60 Td (on ) Tj ET Q q 0 0 0 rg BT 375.56 714.60 Td (a ) Tj ET Q q 0 0 0 rg BT 382.22 714.60 Td (gross ) Tj ET Q q 0 0 0 rg BT 405.56 714.60 Td (\(8/8ths\) ) Tj ET Q q 0 0 0 rg BT 438.90 714.60 Td (basis, ) Tj ET Q q 0 0 0 rg BT 463.63 714.60 Td (of ) Tj ET Q q 0 0 0 rg BT 474.19 714.60 Td (which ) Tj ET Q q 0 0 0 rg BT 500.85 714.60 Td (our ) Tj ET Q q 0 0 0 rg BT 516.41 714.60 Td (net ) Tj ET Q q 0 0 0 rg BT 530.86 714.60 Td (revenue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 82.00 702.60 Td (is ) Tj ET Q q 0 0 0 rg BT 91.74 702.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.57 702.60 Td (4.0 ) Tj ET Q q 0 0 0 rg BT 167.92 702.60 Td (T) Tj ET Q q 0 0 0 rg BT 173.33 702.60 Td (cf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.10 702.60 Td (, ) Tj ET Q q 0 0 0 rg BT 186.67 702.60 Td (and ) Tj ET Q q 0 0 0 rg BT 204.18 702.60 Td (is ) Tj ET Q q 0 0 0 rg BT 213.92 702.60 Td (included ) Tj ET Q q 0 0 0 rg BT 251.42 702.60 Td (in ) Tj ET Q q 0 0 0 rg BT 262.27 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 277.56 702.60 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 322.28 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 333.68 702.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 364.52 702.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 378.41 701.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.66 702.60 Td ( ) Tj ET Q q 0 0 0 rg BT 384.73 702.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 420.56 702.60 Td (prepared ) Tj ET Q q 0 0 0 rg BT 458.61 702.60 Td (by ) Tj ET Q q 0 0 0 rg BT 471.68 702.60 Td (D&M, ) Tj ET Q q 0 0 0 rg BT 501.14 702.60 Td (an ) Tj ET Q q 0 0 0 rg BT 513.65 702.60 Td (independent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.60 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 91.77 690.60 Td (engineering ) Tj ET Q q 0 0 0 rg BT 140.70 690.60 Td (consulting ) Tj ET Q q 0 0 0 rg BT 184.09 690.60 Td (firm.��In ) Tj ET Q q 0 0 0 rg BT 218.87 690.60 Td (discussing ) Tj ET Q q 0 0 0 rg BT 262.26 690.60 Td (our ) Tj ET Q q 0 0 0 rg BT 277.32 690.60 Td (available ) Tj ET Q q 0 0 0 rg BT 315.14 690.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 329.03 689.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.28 690.60 Td ( ) Tj ET Q q 0 0 0 rg BT 334.01 690.60 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 370.99 690.60 Td (we ) Tj ET Q q 0 0 0 rg BT 384.38 690.60 Td (make ) Tj ET Q q 0 0 0 rg BT 407.76 690.60 Td (reference ) Tj ET Q q 0 0 0 rg BT 446.67 690.60 Td (to ) Tj ET Q q 0 0 0 rg BT 456.18 690.60 Td (the ) Tj ET Q q 0 0 0 rg BT 470.12 690.60 Td (gross ) Tj ET Q q 0 0 0 rg BT 492.96 690.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 524.69 690.60 Td (of ) Tj ET Q q 0 0 0 rg BT 534.74 690.60 Td (proved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.46 678.60 Td (probable ) Tj ET Q q 0 0 0 rg BT 103.96 678.60 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 141.74 678.60 Td (as ) Tj ET Q q 0 0 0 rg BT 152.59 678.60 Td (this ) Tj ET Q q 0 0 0 rg BT 169.55 678.60 Td (is ) Tj ET Q q 0 0 0 rg BT 178.74 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 193.48 678.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 225.99 678.60 Td (that ) Tj ET Q q 0 0 0 rg BT 243.50 678.60 Td (is ) Tj ET Q q 0 0 0 rg BT 252.69 678.60 Td (available ) Tj ET Q q 0 0 0 rg BT 291.30 678.60 Td (both ) Tj ET Q q 0 0 0 rg BT 311.60 678.60 Td (for ) Tj ET Q q 0 0 0 rg BT 325.78 678.60 Td (our ) Tj ET Q q 0 0 0 rg BT 341.63 678.60 Td (own ) Tj ET Q q 0 0 0 rg BT 361.37 678.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 392.76 678.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 430.25 678.60 Td (programs ) Tj ET Q q 0 0 0 rg BT 470.54 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 487.49 678.60 Td (for ) Tj ET Q q 0 0 0 rg BT 501.67 678.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 541.96 678.60 Td (users ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (who ) Tj ET Q q 0 0 0 rg BT 69.22 666.60 Td (are ) Tj ET Q q 0 0 0 rg BT 83.93 666.60 Td (customers ) Tj ET Q q 0 0 0 rg BT 126.98 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 137.81 666.60 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 175.30 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 192.23 666.60 Td (others, ) Tj ET Q q 0 0 0 rg BT 221.67 666.60 Td (as ) Tj ET Q q 0 0 0 rg BT 232.50 666.60 Td (we ) Tj ET Q q 0 0 0 rg BT 246.66 666.60 Td (are ) Tj ET Q q 0 0 0 rg BT 261.37 666.60 Td (responsible ) Tj ET Q q 0 0 0 rg BT 309.42 666.60 Td (for ) Tj ET Q q 0 0 0 rg BT 323.58 666.60 Td (distributing ) Tj ET Q q 0 0 0 rg BT 372.19 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 386.91 666.60 Td (entire ) Tj ET Q q 0 0 0 rg BT 412.17 666.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 426.06 665.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.31 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 431.81 666.60 Td (production ) Tj ET Q q 0 0 0 rg BT 477.64 666.60 Td (stream.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 642.60 Td (In ) Tj ET Q q 0 0 0 rg BT 78.67 642.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 114.29 642.60 Td (to ) Tj ET Q q 0 0 0 rg BT 124.91 642.60 Td (our ) Tj ET Q q 0 0 0 rg BT 141.09 642.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 171.70 642.60 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 209.80 642.60 Td (we ) Tj ET Q q 0 0 0 rg BT 224.31 642.60 Td (estimate ) Tj ET Q q 0 0 0 rg BT 260.47 642.60 Td (that ) Tj ET Q q 0 0 0 rg BT 278.31 642.60 Td (we ) Tj ET Q q 0 0 0 rg BT 292.82 642.60 Td (have ) Tj ET Q q 0 0 0 rg BT 314.54 642.60 Td (910.1 ) Tj ET Q q 0 0 0 rg BT 339.88 642.60 Td (Bcf ) Tj ET Q q 0 0 0 rg BT 357.17 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 368.34 642.60 Td (probable ) Tj ET Q q 0 0 0 rg BT 406.17 642.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 420.06 641.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.31 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 426.15 642.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 461.76 642.60 Td (at ) Tj ET Q q 0 0 0 rg BT 471.82 642.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 506.32 642.60 Td (Dome.��) Tj ET Q q 0 0 0 rg BT 538.08 642.60 Td (While ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 63.81 630.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 99.78 630.60 Td (of ) Tj ET Q q 0 0 0 rg BT 110.20 630.60 Td (these ) Tj ET Q q 0 0 0 rg BT 132.84 630.60 Td (probable ) Tj ET Q q 0 0 0 rg BT 169.92 630.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 204.77 630.60 Td (are ) Tj ET Q q 0 0 0 rg BT 219.07 630.60 Td (located ) Tj ET Q q 0 0 0 rg BT 250.03 630.60 Td (in ) Tj ET Q q 0 0 0 rg BT 259.90 630.60 Td (structures ) Tj ET Q q 0 0 0 rg BT 300.87 630.60 Td (that ) Tj ET Q q 0 0 0 rg BT 317.95 630.60 Td (have ) Tj ET Q q 0 0 0 rg BT 338.92 630.60 Td (been ) Tj ET Q q 0 0 0 rg BT 359.89 630.60 Td (drilled ) Tj ET Q q 0 0 0 rg BT 388.08 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 404.61 630.60 Td (tested, ) Tj ET Q q 0 0 0 rg BT 432.53 630.60 Td (such ) Tj ET Q q 0 0 0 rg BT 452.95 630.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 487.80 630.60 Td (are ) Tj ET Q q 0 0 0 rg BT 502.10 630.60 Td (still ) Tj ET Q q 0 0 0 rg BT 519.20 630.60 Td (considered ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (probable ) Tj ET Q q 0 0 0 rg BT 87.45 618.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 123.17 618.60 Td (because ) Tj ET Q q 0 0 0 rg BT 157.79 618.60 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 172.41 618.60 Td (the ) Tj ET Q q 0 0 0 rg BT 187.59 618.60 Td (original ) Tj ET Q q 0 0 0 rg BT 221.66 618.60 Td (well ) Tj ET Q q 0 0 0 rg BT 241.84 618.60 Td (is ) Tj ET Q q 0 0 0 rg BT 251.48 618.60 Td (plugged; ) Tj ET Q q 0 0 0 rg BT 289.44 618.60 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 304.07 618.60 Td (they ) Tj ET Q q 0 0 0 rg BT 324.25 618.60 Td (are ) Tj ET Q q 0 0 0 rg BT 339.42 618.60 Td (located ) Tj ET Q q 0 0 0 rg BT 371.26 618.60 Td (in ) Tj ET Q q 0 0 0 rg BT 382.00 618.60 Td (fault ) Tj ET Q q 0 0 0 rg BT 403.29 618.60 Td (blocks ) Tj ET Q q 0 0 0 rg BT 432.37 618.60 Td (that ) Tj ET Q q 0 0 0 rg BT 450.33 618.60 Td (are ) Tj ET Q q 0 0 0 rg BT 465.50 618.60 Td (immediately ) Tj ET Q q 0 0 0 rg BT 518.45 618.60 Td (adjacent ) Tj ET Q q 0 0 0 rg BT 554.72 618.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (fault ) Tj ET Q q 0 0 0 rg BT 69.81 606.60 Td (blocks ) Tj ET Q q 0 0 0 rg BT 97.90 606.60 Td (with ) Tj ET Q q 0 0 0 rg BT 117.66 606.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 147.41 606.60 Td (reserves; ) Tj ET Q q 0 0 0 rg BT 184.92 606.60 Td (or ) Tj ET Q q 0 0 0 rg BT 195.24 606.60 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 208.88 606.60 Td (they ) Tj ET Q q 0 0 0 rg BT 228.08 606.60 Td (are ) Tj ET Q q 0 0 0 rg BT 242.26 606.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 277.00 606.60 Td (associated ) Tj ET Q q 0 0 0 rg BT 320.08 606.60 Td (with ) Tj ET Q q 0 0 0 rg BT 339.84 606.60 Td (increasing ) Tj ET Q q 0 0 0 rg BT 382.92 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 397.11 606.60 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 431.86 606.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 468.82 606.60 Td (factor ) Tj ET Q q 0 0 0 rg BT 494.12 606.60 Td (from ) Tj ET Q q 0 0 0 rg BT 515.54 606.60 Td (our ) Tj ET Q q 0 0 0 rg BT 530.85 606.60 Td (existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 92.34 594.60 Td (with ) Tj ET Q q 0 0 0 rg BT 113.53 594.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 144.71 594.60 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 183.38 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 186.79 594.60 Td (In ) Tj ET Q q 0 0 0 rg BT 198.54 594.60 Td (addition, ) Tj ET Q q 0 0 0 rg BT 237.22 594.60 Td (a ) Tj ET Q q 0 0 0 rg BT 245.07 594.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 290.70 594.60 Td (portion ) Tj ET Q q 0 0 0 rg BT 323.00 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 334.74 594.60 Td (these ) Tj ET Q q 0 0 0 rg BT 358.70 594.60 Td (probable ) Tj ET Q q 0 0 0 rg BT 397.09 594.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 433.27 594.60 Td (at ) Tj ET Q q 0 0 0 rg BT 443.89 594.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 478.97 594.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 506.82 594.60 Td (are ) Tj ET Q q 0 0 0 rg BT 522.44 594.60 Td (located ) Tj ET Q q 0 0 0 rg BT 554.72 594.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (undrilled ) Tj ET Q q 0 0 0 rg BT 87.88 582.60 Td (structures ) Tj ET Q q 0 0 0 rg BT 129.03 582.60 Td (where ) Tj ET Q q 0 0 0 rg BT 155.74 582.60 Td (we ) Tj ET Q q 0 0 0 rg BT 169.67 582.60 Td (have ) Tj ET Q q 0 0 0 rg BT 190.82 582.60 Td (suf) Tj ET Q q 0 0 0 rg BT 202.86 582.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 230.68 582.60 Td (subsurface ) Tj ET Q q 0 0 0 rg BT 275.72 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 292.43 582.60 Td (seismic ) Tj ET Q q 0 0 0 rg BT 324.70 582.60 Td (data ) Tj ET Q q 0 0 0 rg BT 343.63 582.60 Td (indicating ) Tj ET Q q 0 0 0 rg BT 385.90 582.60 Td (geophysical ) Tj ET Q q 0 0 0 rg BT 435.94 582.60 Td (attributes ) Tj ET Q q 0 0 0 rg BT 475.42 582.60 Td (that, ) Tj ET Q q 0 0 0 rg BT 495.19 582.60 Td (coupled ) Tj ET Q q 0 0 0 rg BT 529.12 582.60 Td (with ) Tj ET Q q 0 0 0 rg BT 549.18 582.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (historically ) Tj ET Q q 0 0 0 rg BT 96.99 570.60 Td (high ) Tj ET Q q 0 0 0 rg BT 117.27 570.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 149.21 570.60 Td (success ) Tj ET Q q 0 0 0 rg BT 181.70 570.60 Td (rate, ) Tj ET Q q 0 0 0 rg BT 201.69 570.60 Td (provide ) Tj ET Q q 0 0 0 rg BT 234.73 570.60 Td (a ) Tj ET Q q 0 0 0 rg BT 241.67 570.60 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 287.49 570.60 Td (high ) Tj ET Q q 0 0 0 rg BT 307.77 570.60 Td (degree ) Tj ET Q q 0 0 0 rg BT 336.91 570.60 Td (of ) Tj ET Q q 0 0 0 rg BT 347.74 570.60 Td (certainty ) Tj ET Q q 0 0 0 rg BT 385.22 570.60 Td (that ) Tj ET Q q 0 0 0 rg BT 402.72 570.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 416.61 569.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.86 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 422.36 570.60 Td (is ) Tj ET Q q 0 0 0 rg BT 431.53 570.60 Td (present.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 546.60 Td (In ) Tj ET Q q 0 0 0 rg BT 78.15 546.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 113.24 546.60 Td (to ) Tj ET Q q 0 0 0 rg BT 123.34 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 138.99 546.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 170.75 546.60 Td (at ) Tj ET Q q 0 0 0 rg BT 180.28 546.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 214.26 546.60 Td (Dome, ) Tj ET Q q 0 0 0 rg BT 243.52 546.60 Td (we ) Tj ET Q q 0 0 0 rg BT 257.50 546.60 Td (have ) Tj ET Q q 0 0 0 rg BT 278.69 546.60 Td (the ) Tj ET Q q 0 0 0 rg BT 293.23 546.60 Td (capability ) Tj ET Q q 0 0 0 rg BT 334.97 546.60 Td (to ) Tj ET Q q 0 0 0 rg BT 345.07 546.60 Td (expand ) Tj ET Q q 0 0 0 rg BT 376.27 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 391.91 546.60 Td (processing ) Tj ET Q q 0 0 0 rg BT 437.00 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 453.76 546.60 Td (dehydration ) Tj ET Q q 0 0 0 rg BT 503.84 546.60 Td (capacities, ) Tj ET Q q 0 0 0 rg BT 548.08 546.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (install ) Tj ET Q q 0 0 0 rg BT 76.53 534.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 119.10 534.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 157.79 534.60 Td (and/or ) Tj ET Q q 0 0 0 rg BT 185.92 534.60 Td (pumping ) Tj ET Q q 0 0 0 rg BT 224.06 534.60 Td (stations ) Tj ET Q q 0 0 0 rg BT 257.20 534.60 Td (necessary ) Tj ET Q q 0 0 0 rg BT 298.65 534.60 Td (to ) Tj ET Q q 0 0 0 rg BT 309.01 534.60 Td (transport ) Tj ET Q q 0 0 0 rg BT 347.14 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 361.94 534.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 375.83 533.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.08 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 381.66 534.60 Td (through ) Tj ET Q q 0 0 0 rg BT 415.35 534.60 Td (our ) Tj ET Q q 0 0 0 rg BT 431.27 534.60 Td (controlled ) Tj ET Q q 0 0 0 rg BT 474.39 534.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 509.19 534.60 Td (network. ) Tj ET Q q 0 0 0 rg BT 547.04 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 549.43 534.60 Td (W) Tj ET Q q 0 0 0 rg BT 558.07 534.60 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (expect ) Tj ET Q q 0 0 0 rg BT 78.97 522.60 Td (our ) Tj ET Q q 0 0 0 rg BT 95.67 522.60 Td (current ) Tj ET Q q 0 0 0 rg BT 127.37 522.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 158.51 522.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 194.64 522.60 Td (of ) Tj ET Q q 0 0 0 rg BT 206.35 522.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 220.24 521.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.49 522.60 Td (, ) Tj ET Q q 0 0 0 rg BT 229.37 522.60 Td (coupled ) Tj ET Q q 0 0 0 rg BT 264.40 522.60 Td (with ) Tj ET Q q 0 0 0 rg BT 285.55 522.60 Td (a ) Tj ET Q q 0 0 0 rg BT 293.36 522.60 Td (risked ) Tj ET Q q 0 0 0 rg BT 321.18 522.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 354.00 522.60 Td (program ) Tj ET Q q 0 0 0 rg BT 391.25 522.60 Td (at ) Tj ET Q q 0 0 0 rg BT 401.84 522.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 436.88 522.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 464.69 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 482.51 522.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 496.40 521.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.65 522.60 Td ( ) Tj ET Q q 0 0 0 rg BT 503.02 522.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 541.93 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 553.08 522.60 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (captured ) Tj ET Q q 0 0 0 rg BT 86.31 510.60 Td (from ) Tj ET Q q 0 0 0 rg BT 108.14 510.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 148.30 510.60 Td (sources, ) Tj ET Q q 0 0 0 rg BT 183.17 510.60 Td (to ) Tj ET Q q 0 0 0 rg BT 193.34 510.60 Td (provide ) Tj ET Q q 0 0 0 rg BT 226.27 510.60 Td (suf) Tj ET Q q 0 0 0 rg BT 238.31 510.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 266.24 510.60 Td (quantities ) Tj ET Q q 0 0 0 rg BT 307.51 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 318.23 510.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 332.12 509.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.37 510.60 Td ( ) Tj ET Q q 0 0 0 rg BT 337.75 510.60 Td (for ) Tj ET Q q 0 0 0 rg BT 351.80 510.60 Td (us ) Tj ET Q q 0 0 0 rg BT 363.08 510.60 Td (to ) Tj ET Q q 0 0 0 rg BT 373.24 510.60 Td (develop ) Tj ET Q q 0 0 0 rg BT 407.29 510.60 Td (our ) Tj ET Q q 0 0 0 rg BT 423.00 510.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 453.16 510.60 Td (and ) Tj ET Q q 0 0 0 rg BT 469.98 510.60 Td (probable ) Tj ET Q q 0 0 0 rg BT 507.36 510.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 529.74 510.60 Td (reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 59.40 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 73.73 498.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 94.18 498.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 119.08 498.60 Td (region. ) Tj ET Q q 0 0 0 rg BT 149.25 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 151.37 498.60 Td (In ) Tj ET Q q 0 0 0 rg BT 161.81 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 176.15 498.60 Td (future, ) Tj ET Q q 0 0 0 rg BT 204.65 498.60 Td (we ) Tj ET Q q 0 0 0 rg BT 218.43 498.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 249.42 498.60 Td (that ) Tj ET Q q 0 0 0 rg BT 266.53 498.60 Td (once ) Tj ET Q q 0 0 0 rg BT 287.53 498.60 Td (a ) Tj ET Q q 0 0 0 rg BT 294.08 498.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 307.98 497.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.23 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 313.35 498.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 336.57 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 346.47 498.60 Td (a ) Tj ET Q q 0 0 0 rg BT 353.03 498.60 Td (field ) Tj ET Q q 0 0 0 rg BT 373.47 498.60 Td (reaches ) Tj ET Q q 0 0 0 rg BT 405.57 498.60 Td (its ) Tj ET Q q 0 0 0 rg BT 417.13 498.60 Td (productive ) Tj ET Q q 0 0 0 rg BT 462.02 498.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 503.01 498.60 Td (limit, ) Tj ET Q q 0 0 0 rg BT 526.52 498.60 Td (we ) Tj ET Q q 0 0 0 rg BT 540.30 498.60 Td (could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (recycle ) Tj ET Q q 0 0 0 rg BT 80.86 486.60 Td (a ) Tj ET Q q 0 0 0 rg BT 87.80 486.60 Td (portion ) Tj ET Q q 0 0 0 rg BT 119.19 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 130.02 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 144.73 486.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 158.63 485.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.88 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 164.38 486.60 Td (that ) Tj ET Q q 0 0 0 rg BT 181.87 486.60 Td (remains ) Tj ET Q q 0 0 0 rg BT 216.03 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 226.30 486.60 Td (that ) Tj ET Q q 0 0 0 rg BT 243.80 486.60 Td (field�) Tj ET Q q 0 0 0 rg BT 264.90 486.60 Td (s ) Tj ET Q q 0 0 0 rg BT 271.29 486.60 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 309.33 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 326.27 486.60 Td (utilize ) Tj ET Q q 0 0 0 rg BT 353.76 486.60 Td (it ) Tj ET Q q 0 0 0 rg BT 361.82 486.60 Td (for ) Tj ET Q q 0 0 0 rg BT 375.98 486.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 389.03 486.60 Td (production ) Tj ET Q q 0 0 0 rg BT 434.86 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 445.14 486.60 Td (another ) Tj ET Q q 0 0 0 rg BT 477.62 486.60 Td (field�) Tj ET Q q 0 0 0 rg BT 498.73 486.60 Td (s ) Tj ET Q q 0 0 0 rg BT 505.12 486.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 536.49 486.60 Td (flood.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 462.60 Td (In ) Tj ET Q q 0 0 0 rg BT 79.41 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 95.20 462.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 117.11 462.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 143.47 462.60 Td (region, ) Tj ET Q q 0 0 0 rg BT 175.09 462.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 236.43 462.60 Td (83% ) Tj ET Q q 0 0 0 rg BT 258.34 462.60 Td (of ) Tj ET Q q 0 0 0 rg BT 270.25 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 287.15 462.60 Td (average ) Tj ET Q q 0 0 0 rg BT 321.82 462.60 Td (daily ) Tj ET Q q 0 0 0 rg BT 345.39 462.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 359.28 461.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.53 462.60 Td ( ) Tj ET Q q 0 0 0 rg BT 366.11 462.60 Td (produced ) Tj ET Q q 0 0 0 rg BT 406.89 462.60 Td (from ) Tj ET Q q 0 0 0 rg BT 429.91 462.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 465.15 462.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 493.17 462.60 Td (or ) Tj ET Q q 0 0 0 rg BT 505.07 462.60 Td (captured ) Tj ET Q q 0 0 0 rg BT 543.08 462.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 90.52 450.60 Td (sources ) Tj ET Q q 0 0 0 rg BT 123.75 450.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.77 450.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.77 450.60 Td ( ) Tj ET Q q 0 0 0 rg BT 158.02 450.60 Td (was ) Tj ET Q q 0 0 0 rg BT 176.81 450.60 Td (used ) Tj ET Q q 0 0 0 rg BT 198.39 450.60 Td (in ) Tj ET Q q 0 0 0 rg BT 209.41 450.60 Td (our ) Tj ET Q q 0 0 0 rg BT 225.98 450.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 258.10 450.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 296.32 450.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 343.72 450.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 386.38 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 397.40 450.60 Td (87% ) Tj ET Q q 0 0 0 rg BT 418.98 450.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 450.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 450.60 Td ( ) Tj ET Q q 0 0 0 rg BT 453.24 450.60 Td (and ) Tj ET Q q 0 0 0 rg BT 470.93 450.60 Td (85% ) Tj ET Q q 0 0 0 rg BT 492.50 450.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.52 450.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.52 450.60 Td (, ) Tj ET Q q 0 0 0 rg BT 529.27 450.60 Td (with ) Tj ET Q q 0 0 0 rg BT 550.29 450.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.60 Td (balance ) Tj ET Q q 0 0 0 rg BT 81.92 438.60 Td (delivered ) Tj ET Q q 0 0 0 rg BT 121.01 438.60 Td (to ) Tj ET Q q 0 0 0 rg BT 130.68 438.60 Td (third-party ) Tj ET Q q 0 0 0 rg BT 175.33 438.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 214.99 438.60 Td (users. ) Tj ET Q q 0 0 0 rg BT 239.93 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 241.82 438.60 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.04 438.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.04 438.60 Td (, ) Tj ET Q q 0 0 0 rg BT 296.43 438.60 Td (we ) Tj ET Q q 0 0 0 rg BT 309.98 438.60 Td (used ) Tj ET Q q 0 0 0 rg BT 330.20 438.60 Td (an ) Tj ET Q q 0 0 0 rg BT 341.52 438.60 Td (average ) Tj ET Q q 0 0 0 rg BT 374.50 438.60 Td (of ) Tj ET Q q 0 0 0 rg BT 384.72 438.60 Td (466 ) Tj ET Q q 0 0 0 rg BT 401.60 438.60 Td (MMcf/d ) Tj ET Q q 0 0 0 rg BT 436.82 438.60 Td (of ) Tj ET Q q 0 0 0 rg BT 447.04 438.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 460.93 437.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.18 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 466.07 438.60 Td (\(including ) Tj ET Q q 0 0 0 rg BT 509.06 438.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 522.96 437.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.21 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 528.09 438.60 Td (captured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (from ) Tj ET Q q 0 0 0 rg BT 71.44 426.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 111.71 426.60 Td (sources\) ) Tj ET Q q 0 0 0 rg BT 147.53 426.60 Td (for ) Tj ET Q q 0 0 0 rg BT 161.69 426.60 Td (our ) Tj ET Q q 0 0 0 rg BT 177.52 426.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 208.89 426.60 Td (activities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 402.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 89.07 402.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 115.63 402.60 Td (CO) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 130.63 401.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.88 402.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 136.00 402.60 Td (Captur) Tj ET Q q 0 0 0 rg BT 166.93 402.60 Td (ed ) Tj ET Q q 0 0 0 rg BT 179.05 402.60 Td (fr) Tj ET Q q 0 0 0 rg BT 186.63 402.60 Td (om ) Tj ET Q q 0 0 0 rg BT 202.08 402.60 Td (Industrial) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.88 402.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 246.99 402.60 Td (Sour) Tj ET Q q 0 0 0 rg BT 267.37 402.60 Td (ces.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.64 402.60 Td (��In ) Tj ET Q q 0 0 0 rg BT 298.09 402.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 332.98 402.60 Td (to ) Tj ET Q q 0 0 0 rg BT 342.88 402.60 Td (our ) Tj ET Q q 0 0 0 rg BT 358.33 402.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 388.21 402.60 Td (source ) Tj ET Q q 0 0 0 rg BT 416.43 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 426.87 402.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 440.77 401.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.02 402.60 Td (, ) Tj ET Q q 0 0 0 rg BT 448.63 402.60 Td (we ) Tj ET Q q 0 0 0 rg BT 462.41 402.60 Td (are ) Tj ET Q q 0 0 0 rg BT 476.74 402.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 514.95 402.60 Td (party ) Tj ET Q q 0 0 0 rg BT 537.61 402.60 Td (to ) Tj ET Q q 0 0 0 rg BT 547.51 402.60 Td (two ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (long-term ) Tj ET Q q 0 0 0 rg BT 91.96 390.60 Td (contracts ) Tj ET Q q 0 0 0 rg BT 131.08 390.60 Td (to ) Tj ET Q q 0 0 0 rg BT 141.89 390.60 Td (purchase ) Tj ET Q q 0 0 0 rg BT 180.45 390.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 194.34 389.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.59 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 200.62 390.60 Td (from ) Tj ET Q q 0 0 0 rg BT 223.09 390.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 263.89 390.60 Td (plants.��) Tj ET Q q 0 0 0 rg BT 295.09 390.60 Td (W) Tj ET Q q 0 0 0 rg BT 303.73 390.60 Td (e ) Tj ET Q q 0 0 0 rg BT 311.20 390.60 Td (have ) Tj ET Q q 0 0 0 rg BT 333.10 390.60 Td (purchased ) Tj ET Q q 0 0 0 rg BT 376.67 390.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 390.56 389.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.81 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 396.83 390.60 Td (from ) Tj ET Q q 0 0 0 rg BT 419.30 390.60 Td (an ) Tj ET Q q 0 0 0 rg BT 431.77 390.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 472.57 390.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 503.91 390.60 Td (in ) Tj ET Q q 0 0 0 rg BT 514.72 390.60 Td (Port ) Tj ET Q q 0 0 0 rg BT 533.75 390.60 Td (Arthur) Tj ET Q q 0 0 0 rg BT 560.01 390.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (T) Tj ET Q q 0 0 0 rg BT 54.91 378.60 Td (exas ) Tj ET Q q 0 0 0 rg BT 75.38 378.60 Td (since ) Tj ET Q q 0 0 0 rg BT 98.64 378.60 Td (2012 ) Tj ET Q q 0 0 0 rg BT 121.34 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 138.48 378.60 Td (from ) Tj ET Q q 0 0 0 rg BT 160.63 378.60 Td (an ) Tj ET Q q 0 0 0 rg BT 172.77 378.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 213.25 378.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 244.28 378.60 Td (in ) Tj ET Q q 0 0 0 rg BT 254.76 378.60 Td (Geismar) Tj ET Q q 0 0 0 rg BT 288.24 378.60 Td (, ) Tj ET Q q 0 0 0 rg BT 293.44 378.60 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 335.58 378.60 Td (since ) Tj ET Q q 0 0 0 rg BT 358.83 378.60 Td (2013, ) Tj ET Q q 0 0 0 rg BT 384.04 378.60 Td (which ) Tj ET Q q 0 0 0 rg BT 411.18 378.60 Td (supplied ) Tj ET Q q 0 0 0 rg BT 447.77 378.60 Td (an ) Tj ET Q q 0 0 0 rg BT 459.92 378.60 Td (average ) Tj ET Q q 0 0 0 rg BT 493.70 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 504.74 378.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (53 ) Tj ET Q q 0 0 0 rg BT 61.87 366.60 Td (MMcf/d ) Tj ET Q q 0 0 0 rg BT 97.57 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 108.28 366.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 122.17 365.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.42 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 127.79 366.60 Td (to ) Tj ET Q q 0 0 0 rg BT 137.94 366.60 Td (our ) Tj ET Q q 0 0 0 rg BT 153.64 366.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 176.01 366.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 220.04 366.60 Td (during ) Tj ET Q q 0 0 0 rg BT 248.52 366.60 Td (2018.��) Tj ET Q q 0 0 0 rg BT 275.47 366.60 Td (Additionally) Tj ET Q q 0 0 0 rg BT 325.37 366.60 Td (, ) Tj ET Q q 0 0 0 rg BT 330.24 366.60 Td (we ) Tj ET Q q 0 0 0 rg BT 344.28 366.60 Td (are ) Tj ET Q q 0 0 0 rg BT 358.86 366.60 Td (in ) Tj ET Q q 0 0 0 rg BT 369.01 366.60 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 404.16 366.60 Td (discussions ) Tj ET Q q 0 0 0 rg BT 452.09 366.60 Td (with ) Tj ET Q q 0 0 0 rg BT 472.24 366.60 Td (other ) Tj ET Q q 0 0 0 rg BT 495.16 366.60 Td (parties ) Tj ET Q q 0 0 0 rg BT 524.19 366.60 Td (regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 72.92 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 83.01 354.60 Td (construct ) Tj ET Q q 0 0 0 rg BT 121.98 354.60 Td (plants ) Tj ET Q q 0 0 0 rg BT 148.17 354.60 Td (near ) Tj ET Q q 0 0 0 rg BT 167.69 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 182.22 354.60 Td (Green ) Tj ET Q q 0 0 0 rg BT 208.96 354.60 Td (Pipeline. ) Tj ET Q q 0 0 0 rg BT 246.54 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 248.85 354.60 Td (In ) Tj ET Q q 0 0 0 rg BT 259.50 354.60 Td (order ) Tj ET Q q 0 0 0 rg BT 282.90 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 292.99 354.60 Td (capture ) Tj ET Q q 0 0 0 rg BT 324.73 354.60 Td (such ) Tj ET Q q 0 0 0 rg BT 345.37 354.60 Td (volumes, ) Tj ET Q q 0 0 0 rg BT 384.07 354.60 Td (we ) Tj ET Q q 0 0 0 rg BT 398.04 354.60 Td (\(or ) Tj ET Q q 0 0 0 rg BT 412.01 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 426.54 354.60 Td (plant ) Tj ET Q q 0 0 0 rg BT 448.84 354.60 Td (owner\) ) Tj ET Q q 0 0 0 rg BT 479.48 354.60 Td (would ) Tj ET Q q 0 0 0 rg BT 506.79 354.60 Td (need ) Tj ET Q q 0 0 0 rg BT 527.97 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 538.06 354.60 Td (install ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 91.99 342.60 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 139.20 342.60 Td (which ) Tj ET Q q 0 0 0 rg BT 166.14 342.60 Td (includes, ) Tj ET Q q 0 0 0 rg BT 204.47 342.60 Td (at ) Tj ET Q q 0 0 0 rg BT 214.18 342.60 Td (a ) Tj ET Q q 0 0 0 rg BT 221.12 342.60 Td (minimum, ) Tj ET Q q 0 0 0 rg BT 265.01 342.60 Td (compression ) Tj ET Q q 0 0 0 rg BT 318.06 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 335.00 342.60 Td (dehydration ) Tj ET Q q 0 0 0 rg BT 385.26 342.60 Td (facilities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 318.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 88.33 318.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 114.15 318.60 Td (CO) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 129.15 317.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.40 318.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 133.77 318.60 Td (Pipelines.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.61 318.60 Td ( ) Tj ET Q q 0 0 0 rg BT 175.98 318.60 Td ( ) Tj ET Q q 0 0 0 rg BT 177.26 318.60 Td (W) Tj ET Q q 0 0 0 rg BT 185.90 318.60 Td (e ) Tj ET Q q 0 0 0 rg BT 191.71 318.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 227.52 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 241.11 318.60 Td (183-mile ) Tj ET Q q 0 0 0 rg BT 278.59 318.60 Td (NEJD ) Tj ET Q q 0 0 0 rg BT 304.41 318.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 318.30 317.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.55 318.60 Td ( ) Tj ET Q q 0 0 0 rg BT 322.93 318.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 356.52 318.60 Td (that ) Tj ET Q q 0 0 0 rg BT 372.89 318.60 Td (runs ) Tj ET Q q 0 0 0 rg BT 391.49 318.60 Td (from ) Tj ET Q q 0 0 0 rg BT 412.30 318.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 445.34 318.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 471.16 318.60 Td (to ) Tj ET Q q 0 0 0 rg BT 480.31 318.60 Td (near ) Tj ET Q q 0 0 0 rg BT 498.89 318.60 Td (Donaldsonville, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (Louisiana, ) Tj ET Q q 0 0 0 rg BT 93.81 306.60 Td (as ) Tj ET Q q 0 0 0 rg BT 104.52 306.60 Td (part ) Tj ET Q q 0 0 0 rg BT 122.44 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 133.15 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 147.75 306.60 Td (2001 ) Tj ET Q q 0 0 0 rg BT 170.13 306.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 216.38 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 227.09 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 242.80 306.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 276.84 306.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 303.66 306.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 317.55 305.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.80 306.60 Td ( ) Tj ET Q q 0 0 0 rg BT 323.17 306.60 Td (source.��Since ) Tj ET Q q 0 0 0 rg BT 381.37 306.60 Td (2001, ) Tj ET Q q 0 0 0 rg BT 406.25 306.60 Td (we ) Tj ET Q q 0 0 0 rg BT 420.28 306.60 Td (have ) Tj ET Q q 0 0 0 rg BT 441.54 306.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 478.34 306.60 Td (or ) Tj ET Q q 0 0 0 rg BT 489.05 306.60 Td (constructed ) Tj ET Q q 0 0 0 rg BT 537.52 306.60 Td (nearly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (750 ) Tj ET Q q 0 0 0 rg BT 67.16 294.60 Td (miles ) Tj ET Q q 0 0 0 rg BT 91.49 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 102.48 294.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 116.37 293.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.62 294.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.29 294.60 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 163.55 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 180.65 294.60 Td (as ) Tj ET Q q 0 0 0 rg BT 191.65 294.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.64 294.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 261.39 294.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.39 294.60 Td (, ) Tj ET Q q 0 0 0 rg BT 286.55 294.60 Td (we ) Tj ET Q q 0 0 0 rg BT 300.87 294.60 Td (have ) Tj ET Q q 0 0 0 rg BT 322.41 294.60 Td (access ) Tj ET Q q 0 0 0 rg BT 350.61 294.60 Td (to ) Tj ET Q q 0 0 0 rg BT 361.05 294.60 Td (nearly ) Tj ET Q q 0 0 0 rg BT 388.70 294.60 Td (950 ) Tj ET Q q 0 0 0 rg BT 406.36 294.60 Td (miles ) Tj ET Q q 0 0 0 rg BT 430.69 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 441.68 294.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 455.57 293.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.82 294.60 Td ( ) Tj ET Q q 0 0 0 rg BT 461.49 294.60 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 502.75 294.60 Td (which ) Tj ET Q q 0 0 0 rg BT 529.85 294.60 Td (gives ) Tj ET Q q 0 0 0 rg BT 553.62 294.60 Td (us ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 63.89 282.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 91.62 282.60 Td (to ) Tj ET Q q 0 0 0 rg BT 101.57 282.60 Td (deliver ) Tj ET Q q 0 0 0 rg BT 131.51 282.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 145.40 281.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.65 282.60 Td ( ) Tj ET Q q 0 0 0 rg BT 150.83 282.60 Td (throughout ) Tj ET Q q 0 0 0 rg BT 196.89 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 211.28 282.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 231.79 282.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 256.74 282.60 Td (region.��In ) Tj ET Q q 0 0 0 rg BT 300.29 282.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 335.24 282.60 Td (to ) Tj ET Q q 0 0 0 rg BT 345.20 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 359.59 282.60 Td (NEJD ) Tj ET Q q 0 0 0 rg BT 386.21 282.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 400.10 281.17 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.76 282.60 Td (pipeline, ) Tj ET Q q 0 0 0 rg BT 441.65 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 456.04 282.60 Td (major ) Tj ET Q q 0 0 0 rg BT 481.54 282.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 519.82 282.60 Td (in ) Tj ET Q q 0 0 0 rg BT 529.77 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 544.17 282.60 Td (Gulf ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 75.66 270.60 Td (region ) Tj ET Q q 0 0 0 rg BT 104.58 270.60 Td (are ) Tj ET Q q 0 0 0 rg BT 120.17 270.60 Td (the ) Tj ET Q q 0 0 0 rg BT 135.76 270.60 Td (Free ) Tj ET Q q 0 0 0 rg BT 156.91 270.60 Td (State ) Tj ET Q q 0 0 0 rg BT 180.28 270.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 216.43 270.60 Td (\(90 ) Tj ET Q q 0 0 0 rg BT 233.14 270.60 Td (miles\), ) Tj ET Q q 0 0 0 rg BT 264.01 270.60 Td (Delta ) Tj ET Q q 0 0 0 rg BT 289.05 270.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 325.20 270.60 Td (\(1) Tj ET Q q 0 0 0 rg BT 333.16 270.60 Td (10 ) Tj ET Q q 0 0 0 rg BT 346.53 270.60 Td (miles\), ) Tj ET Q q 0 0 0 rg BT 377.41 270.60 Td (Green ) Tj ET Q q 0 0 0 rg BT 405.21 270.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 441.12 270.60 Td (T) Tj ET Q q 0 0 0 rg BT 446.53 270.60 Td (exas ) Tj ET Q q 0 0 0 rg BT 467.68 270.60 Td (\(120 ) Tj ET Q q 0 0 0 rg BT 489.39 270.60 Td (miles\), ) Tj ET Q q 0 0 0 rg BT 520.26 270.60 Td (and ) Tj ET Q q 0 0 0 rg BT 538.08 270.60 Td (Green ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 84.77 258.60 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 126.71 258.60 Td (\(200 ) Tj ET Q q 0 0 0 rg BT 147.54 258.60 Td (miles\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 234.60 Td (Completion ) Tj ET Q q 0 0 0 rg BT 117.89 234.60 Td (of ) Tj ET Q q 0 0 0 rg BT 129.38 234.60 Td (the ) Tj ET Q q 0 0 0 rg BT 144.76 234.60 Td (Green ) Tj ET Q q 0 0 0 rg BT 172.35 234.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 208.29 234.60 Td (allowed ) Tj ET Q q 0 0 0 rg BT 243.11 234.60 Td (for ) Tj ET Q q 0 0 0 rg BT 257.93 234.60 Td (the ) Tj ET Q q 0 0 0 rg BT 273.32 234.60 Td (first ) Tj ET Q q 0 0 0 rg BT 292.59 234.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 306.48 233.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.73 234.60 Td ( ) Tj ET Q q 0 0 0 rg BT 312.89 234.60 Td (injection ) Tj ET Q q 0 0 0 rg BT 351.05 234.60 Td (into ) Tj ET Q q 0 0 0 rg BT 369.77 234.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 407.93 234.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 434.15 234.60 Td (located ) Tj ET Q q 0 0 0 rg BT 466.19 234.60 Td (near ) Tj ET Q q 0 0 0 rg BT 486.56 234.60 Td (Houston, ) Tj ET Q q 0 0 0 rg BT 525.89 234.60 Td (T) Tj ET Q q 0 0 0 rg BT 531.30 234.60 Td (exas, ) Tj ET Q q 0 0 0 rg BT 554.73 234.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.60 Td (2010, ) Tj ET Q q 0 0 0 rg BT 73.87 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 90.18 222.60 Td (gives ) Tj ET Q q 0 0 0 rg BT 113.16 222.60 Td (us ) Tj ET Q q 0 0 0 rg BT 123.92 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 138.01 222.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 165.43 222.60 Td (to ) Tj ET Q q 0 0 0 rg BT 175.08 222.60 Td (deliver ) Tj ET Q q 0 0 0 rg BT 204.71 222.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 218.60 221.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.85 222.60 Td ( ) Tj ET Q q 0 0 0 rg BT 223.72 222.60 Td (to ) Tj ET Q q 0 0 0 rg BT 233.37 222.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 245.80 222.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 269.88 222.60 Td (all ) Tj ET Q q 0 0 0 rg BT 281.75 222.60 Td (along ) Tj ET Q q 0 0 0 rg BT 305.84 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 319.92 222.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 340.12 222.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 364.77 222.60 Td (from ) Tj ET Q q 0 0 0 rg BT 386.08 222.60 Td (Baton ) Tj ET Q q 0 0 0 rg BT 411.84 222.60 Td (Rouge, ) Tj ET Q q 0 0 0 rg BT 442.31 222.60 Td (Louisiana, ) Tj ET Q q 0 0 0 rg BT 486.12 222.60 Td (to ) Tj ET Q q 0 0 0 rg BT 495.35 222.60 Td (Alvin, ) Tj ET Q q 0 0 0 rg BT 522.37 222.60 Td (T) Tj ET Q q 0 0 0 rg BT 527.78 222.60 Td (exas.��) Tj ET Q q 0 0 0 rg BT 552.49 222.60 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.49 210.60 Td (present ) Tj ET Q q 0 0 0 rg BT 96.14 210.60 Td (time, ) Tj ET Q q 0 0 0 rg BT 119.18 210.60 Td (most ) Tj ET Q q 0 0 0 rg BT 141.41 210.60 Td (of ) Tj ET Q q 0 0 0 rg BT 152.51 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 167.50 210.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 181.39 209.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.64 210.60 Td ( ) Tj ET Q q 0 0 0 rg BT 187.41 210.60 Td (flowing ) Tj ET Q q 0 0 0 rg BT 221.29 210.60 Td (in ) Tj ET Q q 0 0 0 rg BT 231.84 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 246.83 210.60 Td (Green ) Tj ET Q q 0 0 0 rg BT 274.03 210.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 309.58 210.60 Td (is ) Tj ET Q q 0 0 0 rg BT 319.02 210.60 Td (delivered ) Tj ET Q q 0 0 0 rg BT 359.00 210.60 Td (from ) Tj ET Q q 0 0 0 rg BT 381.21 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 396.20 210.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 430.63 210.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 457.84 210.60 Td (area, ) Tj ET Q q 0 0 0 rg BT 479.76 210.60 Td (but ) Tj ET Q q 0 0 0 rg BT 495.31 210.60 Td (also ) Tj ET Q q 0 0 0 rg BT 514.19 210.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 550.29 210.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 197.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.64 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 68.75 198.60 Td (we ) Tj ET Q q 0 0 0 rg BT 82.52 198.60 Td (are ) Tj ET Q q 0 0 0 rg BT 96.84 198.60 Td (receiving ) Tj ET Q q 0 0 0 rg BT 136.15 198.60 Td (from ) Tj ET Q q 0 0 0 rg BT 157.70 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 172.03 198.60 Td (industrial ) Tj ET Q q 0 0 0 rg BT 211.92 198.60 Td (facilities ) Tj ET Q q 0 0 0 rg BT 248.45 198.60 Td (in ) Tj ET Q q 0 0 0 rg BT 258.34 198.60 Td (Port ) Tj ET Q q 0 0 0 rg BT 276.66 198.60 Td (Arthur) Tj ET Q q 0 0 0 rg BT 302.92 198.60 Td (, ) Tj ET Q q 0 0 0 rg BT 307.38 198.60 Td (T) Tj ET Q q 0 0 0 rg BT 312.79 198.60 Td (exas ) Tj ET Q q 0 0 0 rg BT 332.67 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 349.22 198.60 Td (Geismar) Tj ET Q q 0 0 0 rg BT 382.69 198.60 Td (, ) Tj ET Q q 0 0 0 rg BT 387.30 198.60 Td (Louisiana, ) Tj ET Q q 0 0 0 rg BT 431.35 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 447.90 198.60 Td (we ) Tj ET Q q 0 0 0 rg BT 461.67 198.60 Td (are ) Tj ET Q q 0 0 0 rg BT 475.99 198.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 514.19 198.60 Td (transporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.60 Td (a ) Tj ET Q q 0 0 0 rg BT 56.59 186.60 Td (third ) Tj ET Q q 0 0 0 rg BT 78.12 186.60 Td (party�) Tj ET Q q 0 0 0 rg BT 101.45 186.60 Td (s ) Tj ET Q q 0 0 0 rg BT 107.99 186.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 121.88 185.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.13 186.60 Td ( ) Tj ET Q q 0 0 0 rg BT 127.77 186.60 Td (for ) Tj ET Q q 0 0 0 rg BT 142.08 186.60 Td (a ) Tj ET Q q 0 0 0 rg BT 149.17 186.60 Td (fee ) Tj ET Q q 0 0 0 rg BT 164.02 186.60 Td (to ) Tj ET Q q 0 0 0 rg BT 174.45 186.60 Td (the ) Tj ET Q q 0 0 0 rg BT 189.32 186.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 211.40 186.60 Td (point ) Tj ET Q q 0 0 0 rg BT 234.61 186.60 Td (at ) Tj ET Q q 0 0 0 rg BT 244.47 186.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 282.12 186.60 Td (Field.� ) Tj ET Q q 0 0 0 rg BT 310.13 186.60 Td (W) Tj ET Q q 0 0 0 rg BT 318.77 186.60 Td (e ) Tj ET Q q 0 0 0 rg BT 325.86 186.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 364.60 186.60 Td (have ) Tj ET Q q 0 0 0 rg BT 386.12 186.60 Td (ample ) Tj ET Q q 0 0 0 rg BT 413.20 186.60 Td (capacity ) Tj ET Q q 0 0 0 rg BT 449.16 186.60 Td (within ) Tj ET Q q 0 0 0 rg BT 477.37 186.60 Td (the ) Tj ET Q q 0 0 0 rg BT 492.23 186.60 Td (Green ) Tj ET Q q 0 0 0 rg BT 519.31 186.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 554.73 186.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (handle ) Tj ET Q q 0 0 0 rg BT 78.66 174.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 121.15 174.60 Td (volumes ) Tj ET Q q 0 0 0 rg BT 157.53 174.60 Td (that ) Tj ET Q q 0 0 0 rg BT 175.03 174.60 Td (may ) Tj ET Q q 0 0 0 rg BT 194.74 174.60 Td (be ) Tj ET Q q 0 0 0 rg BT 206.68 174.60 Td (required ) Tj ET Q q 0 0 0 rg BT 242.50 174.60 Td (to ) Tj ET Q q 0 0 0 rg BT 252.78 174.60 Td (develop ) Tj ET Q q 0 0 0 rg BT 286.93 174.60 Td (our ) Tj ET Q q 0 0 0 rg BT 302.76 174.60 Td (inventory ) Tj ET Q q 0 0 0 rg BT 343.59 174.60 Td (of ) Tj ET Q q 0 0 0 rg BT 354.42 174.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 368.31 173.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.56 174.60 Td ( ) Tj ET Q q 0 0 0 rg BT 374.06 174.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 396.56 174.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 430.71 174.60 Td (in ) Tj ET Q q 0 0 0 rg BT 440.99 174.60 Td (this ) Tj ET Q q 0 0 0 rg BT 457.94 174.60 Td (area.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td (T) Tj ET Q q 0 0 0 rg BT 54.14 150.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 83.86 150.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 93.49 150.60 Td (operties ) Tj ET Q q 0 0 0 rg BT 128.21 150.60 Td (with ) Tj ET Q q 0 0 0 rg BT 147.93 150.60 Td (T) Tj ET Q q 0 0 0 rg BT 152.58 150.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 182.29 150.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 191.92 150.60 Td (oduction ) Tj ET Q q 0 0 0 rg BT 229.42 150.60 Td (and ) Tj ET Q q 0 0 0 rg BT 246.92 150.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 256.55 150.60 Td (oved ) Tj ET Q q 0 0 0 rg BT 277.92 150.60 Td (T) Tj ET Q q 0 0 0 rg BT 282.57 150.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 312.28 150.60 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 350.32 150.60 Td (at ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 360.60 150.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 419.19 150.60 Td (2018) Tj ET Q BT /F4 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 126.60 Td (Delhi ) Tj ET Q q 0 0 0 rg BT 93.06 126.60 Td (Field.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.23 126.60 Td ( ) Tj ET Q q 0 0 0 rg BT 120.01 126.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.79 126.60 Td (Delhi ) Tj ET Q q 0 0 0 rg BT 147.79 126.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 171.13 126.60 Td (is ) Tj ET Q q 0 0 0 rg BT 180.59 126.60 Td (located ) Tj ET Q q 0 0 0 rg BT 212.24 126.60 Td (east ) Tj ET Q q 0 0 0 rg BT 230.57 126.60 Td (of ) Tj ET Q q 0 0 0 rg BT 241.68 126.60 Td (Monroe, ) Tj ET Q q 0 0 0 rg BT 278.63 126.60 Td (Louisiana.��In ) Tj ET Q q 0 0 0 rg BT 336.67 126.60 Td (May ) Tj ET Q q 0 0 0 rg BT 357.79 126.60 Td (2006, ) Tj ET Q q 0 0 0 rg BT 383.07 126.60 Td (we ) Tj ET Q q 0 0 0 rg BT 397.51 126.60 Td (purchased ) Tj ET Q q 0 0 0 rg BT 440.83 126.60 Td (our ) Tj ET Q q 0 0 0 rg BT 456.95 126.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 483.06 126.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 515.28 126.60 Td (in ) Tj ET Q q 0 0 0 rg BT 525.84 126.60 Td (Delhi ) Tj ET Q q 0 0 0 rg BT 550.84 126.60 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.60 Td ($50 ) Tj ET Q q 0 0 0 rg BT 67.20 114.60 Td (million.��) Tj ET Q q 0 0 0 rg BT 103.41 114.60 Td (W) Tj ET Q q 0 0 0 rg BT 112.04 114.60 Td (e ) Tj ET Q q 0 0 0 rg BT 119.18 114.60 Td (began ) Tj ET Q q 0 0 0 rg BT 145.75 114.60 Td (well ) Tj ET Q q 0 0 0 rg BT 165.66 114.60 Td (and ) Tj ET Q q 0 0 0 rg BT 182.80 114.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 213.81 114.60 Td (development ) Tj ET Q q 0 0 0 rg BT 268.16 114.60 Td (in ) Tj ET Q q 0 0 0 rg BT 278.63 114.60 Td (2008, ) Tj ET Q q 0 0 0 rg BT 303.83 114.60 Td (began ) Tj ET Q q 0 0 0 rg BT 330.40 114.60 Td (delivering ) Tj ET Q q 0 0 0 rg BT 373.64 114.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 387.53 113.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.78 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 393.47 114.60 Td (to ) Tj ET Q q 0 0 0 rg BT 403.95 114.60 Td (the ) Tj ET Q q 0 0 0 rg BT 418.86 114.60 Td (field ) Tj ET Q q 0 0 0 rg BT 439.88 114.60 Td (in ) Tj ET Q q 0 0 0 rg BT 450.35 114.60 Td (2009 ) Tj ET Q q 0 0 0 rg BT 473.05 114.60 Td (via ) Tj ET Q q 0 0 0 rg BT 487.96 114.60 Td (the ) Tj ET Q q 0 0 0 rg BT 502.87 114.60 Td (Delta ) Tj ET Q q 0 0 0 rg BT 527.22 114.60 Td (Pipeline, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.60 Td (which ) Tj ET Q q 0 0 0 rg BT 76.06 102.60 Td (runs ) Tj ET Q q 0 0 0 rg BT 95.40 102.60 Td (from ) Tj ET Q q 0 0 0 rg BT 116.81 102.60 Td (T) Tj ET Q q 0 0 0 rg BT 122.56 102.60 Td (insley ) Tj ET Q q 0 0 0 rg BT 148.57 102.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 171.25 102.60 Td (to ) Tj ET Q q 0 0 0 rg BT 181.15 102.60 Td (Delhi ) Tj ET Q q 0 0 0 rg BT 205.48 102.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 230.66 102.60 Td (and ) Tj ET Q q 0 0 0 rg BT 247.22 102.60 Td (first ) Tj ET Q q 0 0 0 rg BT 265.45 102.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 296.44 102.60 Td (production ) Tj ET Q q 0 0 0 rg BT 341.89 102.60 Td (occurred ) Tj ET Q q 0 0 0 rg BT 378.98 102.60 Td (at ) Tj ET Q q 0 0 0 rg BT 388.32 102.60 Td (Delhi ) Tj ET Q q 0 0 0 rg BT 412.66 102.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 435.34 102.60 Td (in ) Tj ET Q q 0 0 0 rg BT 445.24 102.60 Td (2010.��Production ) Tj ET Q q 0 0 0 rg BT 518.74 102.60 Td (from ) Tj ET Q q 0 0 0 rg BT 540.30 102.60 Td (Delhi ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 72.51 90.60 Td (in ) Tj ET Q q 0 0 0 rg BT 82.74 90.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.40 90.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 124.29 90.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.61 90.60 Td ( ) Tj ET Q q 0 0 0 rg BT 155.06 90.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.84 90.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.84 90.60 Td ( ) Tj ET Q q 0 0 0 rg BT 188.29 90.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.82 90.60 Td (4,526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.32 90.60 Td ( ) Tj ET Q q 0 0 0 rg BT 251.77 90.60 Td (Bbls/d, ) Tj ET Q q 0 0 0 rg BT 282.84 90.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 324.71 90.60 Td (to ) Tj ET Q q 0 0 0 rg BT 334.94 90.60 Td (4,906 ) Tj ET Q q 0 0 0 rg BT 359.89 90.60 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 388.46 90.60 Td (in ) Tj ET Q q 0 0 0 rg BT 398.69 90.60 Td (the ) Tj ET Q q 0 0 0 rg BT 413.36 90.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 440.25 90.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 471.01 90.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.79 90.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.79 90.60 Td (.� ) Tj ET Q q 0 0 0 rg BT 509.24 90.60 Td (During ) Tj ET Q q 0 0 0 rg BT 540.02 90.60 Td (2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.60 Td (we ) Tj ET Q q 0 0 0 rg BT 63.83 78.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 108.15 78.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 160.25 78.60 Td (of ) Tj ET Q q 0 0 0 rg BT 171.25 78.60 Td (a ) Tj ET Q q 0 0 0 rg BT 178.36 78.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 208.80 78.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 224.80 78.60 Td (liquids ) Tj ET Q q 0 0 0 rg BT 254.69 78.60 Td (extraction ) Tj ET Q q 0 0 0 rg BT 297.34 78.60 Td (plant, ) Tj ET Q q 0 0 0 rg BT 322.51 78.60 Td (which ) Tj ET Q q 0 0 0 rg BT 349.62 78.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 386.72 78.60 Td (us ) Tj ET Q q 0 0 0 rg BT 398.29 78.60 Td (with ) Tj ET Q q 0 0 0 rg BT 418.73 78.60 Td (the ) Tj ET Q q 0 0 0 rg BT 433.62 78.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 461.84 78.60 Td (to ) Tj ET Q q 0 0 0 rg BT 472.29 78.60 Td (sell ) Tj ET Q q 0 0 0 rg BT 488.85 78.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 519.28 78.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 535.28 78.60 Td (liquids ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.60 Td (from ) Tj ET Q q 0 0 0 rg BT 71.56 66.60 Td (the ) Tj ET Q q 0 0 0 rg BT 86.39 66.60 Td (produced ) Tj ET Q q 0 0 0 rg BT 126.21 66.60 Td (stream, ) Tj ET Q q 0 0 0 rg BT 157.99 66.60 Td (improve ) Tj ET Q q 0 0 0 rg BT 193.93 66.60 Td (the ) Tj ET Q q 0 0 0 rg BT 208.76 66.60 Td (ef) Tj ET Q q 0 0 0 rg BT 216.35 66.60 Td (ficiency ) Tj ET Q q 0 0 0 rg BT 251.17 66.60 Td (of ) Tj ET Q q 0 0 0 rg BT 262.12 66.60 Td (the ) Tj ET Q q 0 0 0 rg BT 276.95 66.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 290.84 65.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.09 66.60 Td ( ) Tj ET Q q 0 0 0 rg BT 296.71 66.60 Td (flood, ) Tj ET Q q 0 0 0 rg BT 322.94 66.60 Td (and ) Tj ET Q q 0 0 0 rg BT 339.99 66.60 Td (utilize ) Tj ET Q q 0 0 0 rg BT 367.60 66.60 Td (extracted ) Tj ET Q q 0 0 0 rg BT 406.86 66.60 Td (methane ) Tj ET Q q 0 0 0 rg BT 443.35 66.60 Td (to ) Tj ET Q q 0 0 0 rg BT 453.74 66.60 Td (power ) Tj ET Q q 0 0 0 rg BT 481.35 66.60 Td (the ) Tj ET Q q 0 0 0 rg BT 496.18 66.60 Td (plant ) Tj ET Q q 0 0 0 rg BT 518.79 66.60 Td (and ) Tj ET Q q 0 0 0 rg BT 535.85 66.60 Td (reduce ) Tj ET Q endstream endobj 31 0 obj <> endobj 32 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (field ) Tj ET Q q 0 0 0 rg BT 69.10 726.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 108.13 726.60 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 148.00 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 149.28 726.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 166.10 726.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 187.37 726.60 Td (development ) Tj ET Q q 0 0 0 rg BT 240.29 726.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 262.67 726.60 Td (for ) Tj ET Q q 0 0 0 rg BT 275.61 726.60 Td (Delhi ) Tj ET Q q 0 0 0 rg BT 299.09 726.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 320.92 726.60 Td (are ) Tj ET Q q 0 0 0 rg BT 334.40 726.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 372.89 726.60 Td (related ) Tj ET Q q 0 0 0 rg BT 401.36 726.60 Td (to ) Tj ET Q q 0 0 0 rg BT 410.41 726.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 440.00 726.60 Td (improvement ) Tj ET Q q 0 0 0 rg BT 494.60 726.60 Td (and ) Tj ET Q q 0 0 0 rg BT 510.31 726.60 Td (conformance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (work.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 690.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 107.15 690.60 Td (Field.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.31 690.60 Td (��Hastings ) Tj ET Q q 0 0 0 rg BT 173.73 690.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 196.71 690.60 Td (is ) Tj ET Q q 0 0 0 rg BT 205.80 690.60 Td (located ) Tj ET Q q 0 0 0 rg BT 237.09 690.60 Td (south ) Tj ET Q q 0 0 0 rg BT 261.18 690.60 Td (of ) Tj ET Q q 0 0 0 rg BT 271.92 690.60 Td (Houston, ) Tj ET Q q 0 0 0 rg BT 310.56 690.60 Td (T) Tj ET Q q 0 0 0 rg BT 315.97 690.60 Td (exas.��) Tj ET Q q 0 0 0 rg BT 341.06 690.60 Td (W) Tj ET Q q 0 0 0 rg BT 349.70 690.60 Td (e ) Tj ET Q q 0 0 0 rg BT 356.55 690.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 393.39 690.60 Td (a ) Tj ET Q q 0 0 0 rg BT 400.25 690.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 436.55 690.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 468.40 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 478.60 690.60 Td (this ) Tj ET Q q 0 0 0 rg BT 495.47 690.60 Td (field ) Tj ET Q q 0 0 0 rg BT 516.21 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 526.41 690.60 Td (February ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (2009 ) Tj ET Q q 0 0 0 rg BT 71.89 678.60 Td (for ) Tj ET Q q 0 0 0 rg BT 85.94 678.60 Td ($247 ) Tj ET Q q 0 0 0 rg BT 108.33 678.60 Td (million.��) Tj ET Q q 0 0 0 rg BT 144.54 678.60 Td (W) Tj ET Q q 0 0 0 rg BT 153.18 678.60 Td (e ) Tj ET Q q 0 0 0 rg BT 160.01 678.60 Td (initiated ) Tj ET Q q 0 0 0 rg BT 195.17 678.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 209.06 677.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.31 678.60 Td ( ) Tj ET Q q 0 0 0 rg BT 214.70 678.60 Td (injection ) Tj ET Q q 0 0 0 rg BT 252.08 678.60 Td (in ) Tj ET Q q 0 0 0 rg BT 262.25 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 276.68 678.60 Td (W) Tj ET Q q 0 0 0 rg BT 285.32 678.60 Td (est ) Tj ET Q q 0 0 0 rg BT 298.82 678.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 336.21 678.60 Td (Unit ) Tj ET Q q 0 0 0 rg BT 356.38 678.60 Td (during ) Tj ET Q q 0 0 0 rg BT 384.87 678.60 Td (2010 ) Tj ET Q q 0 0 0 rg BT 407.26 678.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 429.65 678.60 Td (completion ) Tj ET Q q 0 0 0 rg BT 477.03 678.60 Td (of ) Tj ET Q q 0 0 0 rg BT 487.75 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 502.36 678.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 554.19 678.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 63.52 666.60 Td (Green ) Tj ET Q q 0 0 0 rg BT 89.74 666.60 Td (Pipeline.��Due ) Tj ET Q q 0 0 0 rg BT 148.48 666.60 Td (to ) Tj ET Q q 0 0 0 rg BT 158.05 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 172.07 666.60 Td (lar) Tj ET Q q 0 0 0 rg BT 182.44 666.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 193.67 666.60 Td (vertical ) Tj ET Q q 0 0 0 rg BT 225.45 666.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 237.81 666.60 Td (column ) Tj ET Q q 0 0 0 rg BT 269.60 666.60 Td (that ) Tj ET Q q 0 0 0 rg BT 286.40 666.60 Td (exists ) Tj ET Q q 0 0 0 rg BT 310.98 666.60 Td (in ) Tj ET Q q 0 0 0 rg BT 320.55 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 334.57 666.60 Td (field, ) Tj ET Q q 0 0 0 rg BT 357.20 666.60 Td (we ) Tj ET Q q 0 0 0 rg BT 370.65 666.60 Td (are ) Tj ET Q q 0 0 0 rg BT 384.66 666.60 Td (developing ) Tj ET Q q 0 0 0 rg BT 430.89 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 444.91 666.60 Td (Frio ) Tj ET Q q 0 0 0 rg BT 463.38 666.60 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 500.72 666.60 Td (using ) Tj ET Q q 0 0 0 rg BT 524.19 666.60 Td (dedicated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 653.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.64 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 69.79 654.60 Td (injection ) Tj ET Q q 0 0 0 rg BT 107.94 654.60 Td (and ) Tj ET Q q 0 0 0 rg BT 125.53 654.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 169.22 654.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 193.48 654.60 Td (for ) Tj ET Q q 0 0 0 rg BT 208.30 654.60 Td (each ) Tj ET Q q 0 0 0 rg BT 229.76 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 241.25 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 256.61 654.60 Td (major ) Tj ET Q q 0 0 0 rg BT 283.09 654.60 Td (sand ) Tj ET Q q 0 0 0 rg BT 304.57 654.60 Td (intervals. ) Tj ET Q q 0 0 0 rg BT 344.66 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 347.58 654.60 Td (W) Tj ET Q q 0 0 0 rg BT 356.22 654.60 Td (e ) Tj ET Q q 0 0 0 rg BT 363.81 654.60 Td (began ) Tj ET Q q 0 0 0 rg BT 390.84 654.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 434.54 654.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 448.25 654.60 Td (from ) Tj ET Q q 0 0 0 rg BT 470.84 654.60 Td (our ) Tj ET Q q 0 0 0 rg BT 487.32 654.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 510.47 654.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 555.28 654.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 86.69 642.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 109.43 642.60 Td (in ) Tj ET Q q 0 0 0 rg BT 119.39 642.60 Td (2012, ) Tj ET Q q 0 0 0 rg BT 144.08 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 160.70 642.60 Td (we ) Tj ET Q q 0 0 0 rg BT 174.54 642.60 Td (booked ) Tj ET Q q 0 0 0 rg BT 206.17 642.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 231.68 642.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 261.64 642.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 292.69 642.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 327.64 642.60 Td (for ) Tj ET Q q 0 0 0 rg BT 341.48 642.60 Td (the ) Tj ET Q q 0 0 0 rg BT 355.73 642.60 Td (W) Tj ET Q q 0 0 0 rg BT 364.36 642.60 Td (est ) Tj ET Q q 0 0 0 rg BT 377.66 642.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 414.84 642.60 Td (Unit ) Tj ET Q q 0 0 0 rg BT 434.81 642.60 Td (in ) Tj ET Q q 0 0 0 rg BT 444.77 642.60 Td (2012.��) Tj ET Q q 0 0 0 rg BT 472.09 642.60 Td (The ) Tj ET Q q 0 0 0 rg BT 489.82 642.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 530.89 642.60 Td (also ) Tj ET Q q 0 0 0 rg BT 549.19 642.60 Td (has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (future ) Tj ET Q q 0 0 0 rg BT 75.64 630.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 99.00 630.60 Td (for ) Tj ET Q q 0 0 0 rg BT 112.92 630.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 154.61 630.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 185.74 630.60 Td (development ) Tj ET Q q 0 0 0 rg BT 239.65 630.60 Td (of ) Tj ET Q q 0 0 0 rg BT 250.24 630.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 284.16 630.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 314.19 630.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 367.54 630.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 402.56 630.60 Td (at ) Tj ET Q q 0 0 0 rg BT 412.03 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 426.51 630.60 Td (field. ) Tj ET Q q 0 0 0 rg BT 449.59 630.60 Td ( ) Tj ET Q q 0 0 0 rg BT 451.85 630.60 Td (During ) Tj ET Q q 0 0 0 rg BT 482.44 630.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.91 630.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 523.61 630.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.93 630.60 Td ( ) Tj ET Q q 0 0 0 rg BT 554.19 630.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 618.60 Td (, ) Tj ET Q q 0 0 0 rg BT 74.50 618.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 105.87 618.60 Td (production ) Tj ET Q q 0 0 0 rg BT 151.70 618.60 Td (from ) Tj ET Q q 0 0 0 rg BT 173.64 618.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 211.14 618.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 234.19 618.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.78 618.60 Td (5,480) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.28 618.60 Td ( ) Tj ET Q q 0 0 0 rg BT 297.78 618.60 Td (Bbls/d, ) Tj ET Q q 0 0 0 rg BT 328.89 618.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 370.82 618.60 Td (to ) Tj ET Q q 0 0 0 rg BT 381.10 618.60 Td (5,747 ) Tj ET Q q 0 0 0 rg BT 406.10 618.60 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 434.71 618.60 Td (in ) Tj ET Q q 0 0 0 rg BT 444.99 618.60 Td (the ) Tj ET Q q 0 0 0 rg BT 459.71 618.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 486.65 618.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 517.46 618.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.29 618.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.29 618.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 594.60 Td (Heidelberg ) Tj ET Q q 0 0 0 rg BT 117.29 594.60 Td (Field.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.46 594.60 Td (��Heidelber) Tj ET Q q 0 0 0 rg BT 185.70 594.60 Td (g ) Tj ET Q q 0 0 0 rg BT 193.28 594.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 216.42 594.60 Td (is ) Tj ET Q q 0 0 0 rg BT 225.67 594.60 Td (located ) Tj ET Q q 0 0 0 rg BT 257.13 594.60 Td (in ) Tj ET Q q 0 0 0 rg BT 267.49 594.60 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 315.64 594.60 Td (of) Tj ET Q q 0 0 0 rg BT 323.79 594.60 Td (f ) Tj ET Q q 0 0 0 rg BT 329.70 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 340.62 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 355.42 594.60 Td (Free ) Tj ET Q q 0 0 0 rg BT 375.77 594.60 Td (State ) Tj ET Q q 0 0 0 rg BT 398.34 594.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 433.70 594.60 Td (and ) Tj ET Q q 0 0 0 rg BT 450.72 594.60 Td (consists ) Tj ET Q q 0 0 0 rg BT 484.97 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 495.88 594.60 Td (an ) Tj ET Q q 0 0 0 rg BT 507.90 594.60 Td (East ) Tj ET Q q 0 0 0 rg BT 527.70 594.60 Td (Unit ) Tj ET Q q 0 0 0 rg BT 548.06 594.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (a ) Tj ET Q q 0 0 0 rg BT 55.88 582.60 Td (W) Tj ET Q q 0 0 0 rg BT 64.52 582.60 Td (est ) Tj ET Q q 0 0 0 rg BT 77.71 582.60 Td (Unit.��Construction ) Tj ET Q q 0 0 0 rg BT 156.75 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 167.17 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 181.47 582.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 195.36 581.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.61 582.60 Td ( ) Tj ET Q q 0 0 0 rg BT 200.70 582.60 Td (facility) Tj ET Q q 0 0 0 rg BT 228.38 582.60 Td (, ) Tj ET Q q 0 0 0 rg BT 232.96 582.60 Td (connecting ) Tj ET Q q 0 0 0 rg BT 278.93 582.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 313.23 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 329.76 582.60 Td (well ) Tj ET Q q 0 0 0 rg BT 349.06 582.60 Td (work ) Tj ET Q q 0 0 0 rg BT 371.71 582.60 Td (commenced ) Tj ET Q q 0 0 0 rg BT 422.11 582.60 Td (on ) Tj ET Q q 0 0 0 rg BT 434.20 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 448.35 582.60 Td (W) Tj ET Q q 0 0 0 rg BT 456.99 582.60 Td (est ) Tj ET Q q 0 0 0 rg BT 470.19 582.60 Td (Heidelber) Tj ET Q q 0 0 0 rg BT 509.43 582.60 Td (g ) Tj ET Q q 0 0 0 rg BT 516.52 582.60 Td (Unit ) Tj ET Q q 0 0 0 rg BT 536.39 582.60 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (2008, ) Tj ET Q q 0 0 0 rg BT 74.39 570.60 Td (with ) Tj ET Q q 0 0 0 rg BT 94.55 570.60 Td (our ) Tj ET Q q 0 0 0 rg BT 110.27 570.60 Td (first ) Tj ET Q q 0 0 0 rg BT 128.77 570.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 142.66 569.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.91 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 148.30 570.60 Td (injections ) Tj ET Q q 0 0 0 rg BT 189.57 570.60 Td (into ) Tj ET Q q 0 0 0 rg BT 207.51 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 222.11 570.60 Td (Eutaw ) Tj ET Q q 0 0 0 rg BT 250.05 570.60 Td (zone ) Tj ET Q q 0 0 0 rg BT 271.31 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 281.48 570.60 Td (2008.��Our ) Tj ET Q q 0 0 0 rg BT 326.92 570.60 Td (first ) Tj ET Q q 0 0 0 rg BT 345.42 570.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 376.68 570.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 389.62 570.60 Td (production ) Tj ET Q q 0 0 0 rg BT 435.33 570.60 Td (occurred ) Tj ET Q q 0 0 0 rg BT 472.70 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 482.86 570.60 Td (2009, ) Tj ET Q q 0 0 0 rg BT 507.75 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 524.58 570.60 Td (we ) Tj ET Q q 0 0 0 rg BT 538.62 570.60 Td (began ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (flooding ) Tj ET Q q 0 0 0 rg BT 85.06 558.60 Td (the ) Tj ET Q q 0 0 0 rg BT 98.95 558.60 Td (Christmas ) Tj ET Q q 0 0 0 rg BT 141.17 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 157.16 558.60 Td (T) Tj ET Q q 0 0 0 rg BT 162.92 558.60 Td (uscaloosa ) Tj ET Q q 0 0 0 rg BT 203.47 558.60 Td (zones ) Tj ET Q q 0 0 0 rg BT 227.91 558.60 Td (in ) Tj ET Q q 0 0 0 rg BT 237.36 558.60 Td (2013 ) Tj ET Q q 0 0 0 rg BT 259.03 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 275.14 558.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 299.31 558.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 346.97 558.60 Td (.��During ) Tj ET Q q 0 0 0 rg BT 384.47 558.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.36 558.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 424.47 558.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.79 558.60 Td ( ) Tj ET Q q 0 0 0 rg BT 454.46 558.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.46 558.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.46 558.60 Td (, ) Tj ET Q q 0 0 0 rg BT 488.63 558.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 519.17 558.60 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (at ) Tj ET Q q 0 0 0 rg BT 59.00 546.60 Td (Heidelber) Tj ET Q q 0 0 0 rg BT 98.24 546.60 Td (g ) Tj ET Q q 0 0 0 rg BT 105.52 546.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 128.36 546.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.73 546.60 Td (4,269) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.23 546.60 Td ( ) Tj ET Q q 0 0 0 rg BT 191.51 546.60 Td (Bbls/d, ) Tj ET Q q 0 0 0 rg BT 222.41 546.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 264.11 546.60 Td (to ) Tj ET Q q 0 0 0 rg BT 274.17 546.60 Td (4,751 ) Tj ET Q q 0 0 0 rg BT 298.96 546.60 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 327.36 546.60 Td (in ) Tj ET Q q 0 0 0 rg BT 337.42 546.60 Td (the ) Tj ET Q q 0 0 0 rg BT 351.92 546.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 378.64 546.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 409.23 546.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.84 546.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.84 546.60 Td (.��Our ) Tj ET Q q 0 0 0 rg BT 465.18 546.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 487.46 546.60 Td (development ) Tj ET Q q 0 0 0 rg BT 541.39 546.60 Td (plans ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (for ) Tj ET Q q 0 0 0 rg BT 63.07 534.60 Td (Heidelber) Tj ET Q q 0 0 0 rg BT 102.31 534.60 Td (g ) Tj ET Q q 0 0 0 rg BT 109.23 534.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 131.69 534.60 Td (include ) Tj ET Q q 0 0 0 rg BT 163.04 534.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 204.39 534.60 Td (development ) Tj ET Q q 0 0 0 rg BT 257.95 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 268.19 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 282.32 534.60 Td (Christmas ) Tj ET Q q 0 0 0 rg BT 324.79 534.60 Td (zone ) Tj ET Q q 0 0 0 rg BT 345.57 534.60 Td (and ) Tj ET Q q 0 0 0 rg BT 361.92 534.60 Td (conformance ) Tj ET Q q 0 0 0 rg BT 416.03 534.60 Td (work, ) Tj ET Q q 0 0 0 rg BT 440.99 534.60 Td (with ) Tj ET Q q 0 0 0 rg BT 460.68 534.60 Td (future ) Tj ET Q q 0 0 0 rg BT 486.47 534.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 509.49 534.60 Td (for ) Tj ET Q q 0 0 0 rg BT 523.06 534.60 Td (continued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 80.87 522.60 Td (development ) Tj ET Q q 0 0 0 rg BT 135.02 522.60 Td (of ) Tj ET Q q 0 0 0 rg BT 145.85 522.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 180.02 522.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 210.29 522.60 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 263.88 522.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 299.14 522.60 Td (at ) Tj ET Q q 0 0 0 rg BT 308.86 522.60 Td (the ) Tj ET Q q 0 0 0 rg BT 323.57 522.60 Td (field. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 498.60 Td (Oyster) Tj ET Q q 0 0 0 rg BT 96.20 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 98.38 498.60 Td (Bayou ) Tj ET Q q 0 0 0 rg BT 127.80 498.60 Td (Field.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.96 498.60 Td (��) Tj ET Q q 0 0 0 rg BT 156.78 498.60 Td (W) Tj ET Q q 0 0 0 rg BT 165.42 498.60 Td (e ) Tj ET Q q 0 0 0 rg BT 172.04 498.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 208.65 498.60 Td (a ) Tj ET Q q 0 0 0 rg BT 215.27 498.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 251.34 498.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 282.95 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 292.92 498.60 Td (Oyster ) Tj ET Q q 0 0 0 rg BT 321.76 498.60 Td (Bayou ) Tj ET Q q 0 0 0 rg BT 350.05 498.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 372.79 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 382.76 498.60 Td (2007. ) Tj ET Q q 0 0 0 rg BT 407.44 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 409.47 498.60 Td (The ) Tj ET Q q 0 0 0 rg BT 427.20 498.60 Td (field ) Tj ET Q q 0 0 0 rg BT 447.71 498.60 Td (is ) Tj ET Q q 0 0 0 rg BT 456.56 498.60 Td (located ) Tj ET Q q 0 0 0 rg BT 487.62 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 497.58 498.60 Td (southeast ) Tj ET Q q 0 0 0 rg BT 536.82 498.60 Td (T) Tj ET Q q 0 0 0 rg BT 542.23 498.60 Td (exas, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (east ) Tj ET Q q 0 0 0 rg BT 66.94 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 77.16 486.60 Td (Galveston ) Tj ET Q q 0 0 0 rg BT 119.60 486.60 Td (Bay) Tj ET Q q 0 0 0 rg BT 135.06 486.60 Td (, ) Tj ET Q q 0 0 0 rg BT 139.45 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 155.78 486.60 Td (is ) Tj ET Q q 0 0 0 rg BT 164.34 486.60 Td (somewhat ) Tj ET Q q 0 0 0 rg BT 206.78 486.60 Td (unique ) Tj ET Q q 0 0 0 rg BT 235.89 486.60 Td (when ) Tj ET Q q 0 0 0 rg BT 259.44 486.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 300.76 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 310.43 486.60 Td (our ) Tj ET Q q 0 0 0 rg BT 325.65 486.60 Td (other ) Tj ET Q q 0 0 0 rg BT 348.09 486.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 361.98 485.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.23 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 367.12 486.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 389.02 486.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 422.56 486.60 Td (because ) Tj ET Q q 0 0 0 rg BT 456.10 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 470.21 486.60 Td (field ) Tj ET Q q 0 0 0 rg BT 490.43 486.60 Td (covers ) Tj ET Q q 0 0 0 rg BT 518.42 486.60 Td (a ) Tj ET Q q 0 0 0 rg BT 524.75 486.60 Td (relatively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (small ) Tj ET Q q 0 0 0 rg BT 73.12 474.60 Td (area ) Tj ET Q q 0 0 0 rg BT 91.71 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 101.99 474.60 Td (3,912 ) Tj ET Q q 0 0 0 rg BT 126.44 474.60 Td (acres. ) Tj ET Q q 0 0 0 rg BT 151.43 474.60 Td (�) Tj ET Q q 0 0 0 rg BT 153.75 474.60 Td (W) Tj ET Q q 0 0 0 rg BT 162.39 474.60 Td (e ) Tj ET Q q 0 0 0 rg BT 168.78 474.60 Td (began ) Tj ET Q q 0 0 0 rg BT 194.60 474.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 208.50 473.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.75 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 213.70 474.60 Td (injections ) Tj ET Q q 0 0 0 rg BT 254.53 474.60 Td (into ) Tj ET Q q 0 0 0 rg BT 272.04 474.60 Td (Oyster ) Tj ET Q q 0 0 0 rg BT 300.65 474.60 Td (Bayou ) Tj ET Q q 0 0 0 rg BT 328.71 474.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 351.21 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 360.94 474.60 Td (2010, ) Tj ET Q q 0 0 0 rg BT 385.39 474.60 Td (commenced ) Tj ET Q q 0 0 0 rg BT 435.65 474.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 466.48 474.60 Td (production ) Tj ET Q q 0 0 0 rg BT 511.75 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 521.48 474.60 Td (201) Tj ET Q q 0 0 0 rg BT 536.11 474.60 Td (1 ) Tj ET Q q 0 0 0 rg BT 543.06 474.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.59 462.60 Td (Frio ) Tj ET Q q 0 0 0 rg BT 83.49 462.60 Td (A-1 ) Tj ET Q q 0 0 0 rg BT 101.92 462.60 Td (zone, ) Tj ET Q q 0 0 0 rg BT 126.16 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 143.47 462.60 Td (booked ) Tj ET Q q 0 0 0 rg BT 175.78 462.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 201.98 462.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 232.62 462.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 264.36 462.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 299.99 462.60 Td (for ) Tj ET Q q 0 0 0 rg BT 314.52 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 329.61 462.60 Td (field ) Tj ET Q q 0 0 0 rg BT 350.80 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 361.45 462.60 Td (2012.��In ) Tj ET Q q 0 0 0 rg BT 400.15 462.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 425.52 462.60 Td (we ) Tj ET Q q 0 0 0 rg BT 440.05 462.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 484.57 462.60 Td (development ) Tj ET Q q 0 0 0 rg BT 539.09 462.60 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 462.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (Frio ) Tj ET Q q 0 0 0 rg BT 68.07 450.60 Td (A-2 ) Tj ET Q q 0 0 0 rg BT 86.05 450.60 Td (zone. ) Tj ET Q q 0 0 0 rg BT 109.86 450.60 Td ( ) Tj ET Q q 0 0 0 rg BT 112.30 450.60 Td (During ) Tj ET Q q 0 0 0 rg BT 143.06 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 157.71 450.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 184.59 450.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 215.33 450.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.10 450.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.10 450.60 Td (, ) Tj ET Q q 0 0 0 rg BT 251.03 450.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 282.34 450.60 Td (production ) Tj ET Q q 0 0 0 rg BT 328.10 450.60 Td (at ) Tj ET Q q 0 0 0 rg BT 337.75 450.60 Td (Oyster ) Tj ET Q q 0 0 0 rg BT 366.84 450.60 Td (Bayou ) Tj ET Q q 0 0 0 rg BT 395.39 450.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 418.38 450.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.90 450.60 Td (4,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.40 450.60 Td ( ) Tj ET Q q 0 0 0 rg BT 481.83 450.60 Td (Bbls/d, ) Tj ET Q q 0 0 0 rg BT 512.88 450.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 554.74 450.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.60 Td (4,868 ) Tj ET Q q 0 0 0 rg BT 74.50 438.60 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 103.12 438.60 Td (in ) Tj ET Q q 0 0 0 rg BT 113.40 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 128.11 438.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 155.05 438.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 185.87 438.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.70 438.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.70 438.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 414.60 Td (T) Tj ET Q q 0 0 0 rg BT 73.99 414.60 Td (insley ) Tj ET Q q 0 0 0 rg BT 101.30 414.60 Td (Field.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.46 414.60 Td (��) Tj ET Q q 0 0 0 rg BT 130.28 414.60 Td (W) Tj ET Q q 0 0 0 rg BT 138.92 414.60 Td (e ) Tj ET Q q 0 0 0 rg BT 146.21 414.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 183.29 414.60 Td (T) Tj ET Q q 0 0 0 rg BT 189.05 414.60 Td (insley ) Tj ET Q q 0 0 0 rg BT 215.79 414.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 239.21 414.60 Td (in ) Tj ET Q q 0 0 0 rg BT 249.84 414.60 Td (2006. ) Tj ET Q q 0 0 0 rg BT 275.20 414.60 Td ( ) Tj ET Q q 0 0 0 rg BT 277.85 414.60 Td (This ) Tj ET Q q 0 0 0 rg BT 298.49 414.60 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 346.92 414.60 Td (field ) Tj ET Q q 0 0 0 rg BT 368.10 414.60 Td (was ) Tj ET Q q 0 0 0 rg BT 386.51 414.60 Td (discovered ) Tj ET Q q 0 0 0 rg BT 432.68 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 449.98 414.60 Td (first ) Tj ET Q q 0 0 0 rg BT 468.94 414.60 Td (developed ) Tj ET Q q 0 0 0 rg BT 512.90 414.60 Td (in ) Tj ET Q q 0 0 0 rg BT 523.53 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 538.61 414.60 Td (1930s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.71 402.60 Td (is ) Tj ET Q q 0 0 0 rg BT 76.16 402.60 Td (separated ) Tj ET Q q 0 0 0 rg BT 116.69 402.60 Td (by ) Tj ET Q q 0 0 0 rg BT 129.46 402.60 Td (dif) Tj ET Q q 0 0 0 rg BT 140.39 402.60 Td (ferent ) Tj ET Q q 0 0 0 rg BT 166.48 402.60 Td (fault ) Tj ET Q q 0 0 0 rg BT 187.58 402.60 Td (blocks.��) Tj ET Q q 0 0 0 rg BT 220.64 402.60 Td (As ) Tj ET Q q 0 0 0 rg BT 234.52 402.60 Td (is ) Tj ET Q q 0 0 0 rg BT 243.97 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 258.96 402.60 Td (case ) Tj ET Q q 0 0 0 rg BT 278.94 402.60 Td (with ) Tj ET Q q 0 0 0 rg BT 299.50 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 314.49 402.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 351.15 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 362.25 402.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 387.24 402.60 Td (in ) Tj ET Q q 0 0 0 rg BT 397.79 402.60 Td (Mississippi, ) Tj ET Q q 0 0 0 rg BT 448.44 402.60 Td (T) Tj ET Q q 0 0 0 rg BT 454.20 402.60 Td (insley ) Tj ET Q q 0 0 0 rg BT 480.86 402.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 504.19 402.60 Td (produces ) Tj ET Q q 0 0 0 rg BT 543.06 402.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (multiple ) Tj ET Q q 0 0 0 rg BT 85.76 390.60 Td (reservoirs.��Our ) Tj ET Q q 0 0 0 rg BT 151.17 390.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 165.06 389.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.31 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 171.24 390.60 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 211.92 390.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 225.41 390.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 263.31 390.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 307.89 390.60 Td (at ) Tj ET Q q 0 0 0 rg BT 317.83 390.60 Td (T) Tj ET Q q 0 0 0 rg BT 323.58 390.60 Td (insley ) Tj ET Q q 0 0 0 rg BT 350.40 390.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 373.89 390.60 Td (have ) Tj ET Q q 0 0 0 rg BT 395.69 390.60 Td (thus ) Tj ET Q q 0 0 0 rg BT 415.29 390.60 Td (far ) Tj ET Q q 0 0 0 rg BT 429.32 390.60 Td (tar) Tj ET Q q 0 0 0 rg BT 439.68 390.60 Td (geted ) Tj ET Q q 0 0 0 rg BT 464.27 390.60 Td (the ) Tj ET Q q 0 0 0 rg BT 479.20 390.60 Td (W) Tj ET Q q 0 0 0 rg BT 487.84 390.60 Td (oodruf) Tj ET Q q 0 0 0 rg BT 514.32 390.60 Td (f ) Tj ET Q q 0 0 0 rg BT 520.58 390.60 Td (formation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (although ) Tj ET Q q 0 0 0 rg BT 86.99 378.60 Td (there ) Tj ET Q q 0 0 0 rg BT 109.48 378.60 Td (is ) Tj ET Q q 0 0 0 rg BT 118.65 378.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 161.14 378.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 198.63 378.60 Td (in ) Tj ET Q q 0 0 0 rg BT 208.90 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 223.62 378.60 Td (Perry ) Tj ET Q q 0 0 0 rg BT 247.78 378.60 Td (sandstone ) Tj ET Q q 0 0 0 rg BT 289.72 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 306.65 378.60 Td (other ) Tj ET Q q 0 0 0 rg BT 329.70 378.60 Td (smaller ) Tj ET Q q 0 0 0 rg BT 361.63 378.60 Td (reservoirs.��) Tj ET Q q 0 0 0 rg BT 408.38 378.60 Td (W) Tj ET Q q 0 0 0 rg BT 417.02 378.60 Td (e ) Tj ET Q q 0 0 0 rg BT 423.96 378.60 Td (commenced ) Tj ET Q q 0 0 0 rg BT 474.76 378.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 506.14 378.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 519.19 378.60 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (from ) Tj ET Q q 0 0 0 rg BT 71.30 366.60 Td (T) Tj ET Q q 0 0 0 rg BT 77.05 366.60 Td (insley ) Tj ET Q q 0 0 0 rg BT 103.48 366.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 126.58 366.60 Td (in ) Tj ET Q q 0 0 0 rg BT 136.90 366.60 Td (2008 ) Tj ET Q q 0 0 0 rg BT 159.44 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 176.42 366.60 Td (substantially ) Tj ET Q q 0 0 0 rg BT 229.51 366.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 273.70 366.60 Td (development ) Tj ET Q q 0 0 0 rg BT 327.89 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 338.76 366.60 Td (the ) Tj ET Q q 0 0 0 rg BT 353.33 366.60 Td (W) Tj ET Q q 0 0 0 rg BT 361.97 366.60 Td (oodruf) Tj ET Q q 0 0 0 rg BT 388.45 366.60 Td (f ) Tj ET Q q 0 0 0 rg BT 394.32 366.60 Td (formation ) Tj ET Q q 0 0 0 rg BT 436.30 366.60 Td (during ) Tj ET Q q 0 0 0 rg BT 464.94 366.60 Td (2014.��During ) Tj ET Q q 0 0 0 rg BT 523.31 366.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 538.07 366.60 Td (fourth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.82 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 80.67 354.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.85 354.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.85 354.60 Td (, ) Tj ET Q q 0 0 0 rg BT 117.20 354.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 148.92 354.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 162.33 354.60 Td (production ) Tj ET Q q 0 0 0 rg BT 208.51 354.60 Td (from ) Tj ET Q q 0 0 0 rg BT 230.80 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 245.87 354.60 Td (field ) Tj ET Q q 0 0 0 rg BT 267.04 354.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.98 354.60 Td (5,033) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.48 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 331.33 354.60 Td (Bbls/d, ) Tj ET Q q 0 0 0 rg BT 362.80 354.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 405.08 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 415.71 354.60 Td (6,241 ) Tj ET Q q 0 0 0 rg BT 441.06 354.60 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 470.03 354.60 Td (in ) Tj ET Q q 0 0 0 rg BT 480.66 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 495.73 354.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 523.02 354.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 554.18 354.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 342.60 Td (. ) Tj ET Q q 0 0 0 rg BT 75.04 342.60 Td ( ) Tj ET Q q 0 0 0 rg BT 77.41 342.60 Td (Although ) Tj ET Q q 0 0 0 rg BT 118.22 342.60 Td (production ) Tj ET Q q 0 0 0 rg BT 164.59 342.60 Td (from ) Tj ET Q q 0 0 0 rg BT 186.84 342.60 Td (T) Tj ET Q q 0 0 0 rg BT 192.60 342.60 Td (insley ) Tj ET Q q 0 0 0 rg BT 219.53 342.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 243.12 342.60 Td (is ) Tj ET Q q 0 0 0 rg BT 252.83 342.60 Td (believed ) Tj ET Q q 0 0 0 rg BT 289.74 342.60 Td (to ) Tj ET Q q 0 0 0 rg BT 300.56 342.60 Td (have ) Tj ET Q q 0 0 0 rg BT 322.47 342.60 Td (peaked ) Tj ET Q q 0 0 0 rg BT 353.83 342.60 Td (in ) Tj ET Q q 0 0 0 rg BT 364.64 342.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 387.68 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 405.16 342.60 Td (is ) Tj ET Q q 0 0 0 rg BT 414.87 342.60 Td (generally ) Tj ET Q q 0 0 0 rg BT 455.11 342.60 Td (on ) Tj ET Q q 0 0 0 rg BT 468.15 342.60 Td (decline, ) Tj ET Q q 0 0 0 rg BT 502.56 342.60 Td (we ) Tj ET Q q 0 0 0 rg BT 517.26 342.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 554.73 342.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 85.31 330.60 Td (future ) Tj ET Q q 0 0 0 rg BT 111.69 330.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 149.18 330.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 195.56 330.60 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 250.83 330.60 Td (in ) Tj ET Q q 0 0 0 rg BT 261.11 330.60 Td (this ) Tj ET Q q 0 0 0 rg BT 278.06 330.60 Td (field.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 306.60 Td (In ) Tj ET Q q 0 0 0 rg BT 77.29 306.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 111.52 306.60 Td (to ) Tj ET Q q 0 0 0 rg BT 120.75 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 135.54 306.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 165.87 306.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 208.98 306.60 Td (at ) Tj ET Q q 0 0 0 rg BT 217.55 306.60 Td (T) Tj ET Q q 0 0 0 rg BT 223.30 306.60 Td (insley ) Tj ET Q q 0 0 0 rg BT 248.65 306.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 273.16 306.60 Td (we ) Tj ET Q q 0 0 0 rg BT 286.28 306.60 Td (recently ) Tj ET Q q 0 0 0 rg BT 319.94 306.60 Td (conducted ) Tj ET Q q 0 0 0 rg BT 362.49 306.60 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 411.71 306.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 442.61 306.60 Td (in ) Tj ET Q q 0 0 0 rg BT 451.85 306.60 Td (other ) Tj ET Q q 0 0 0 rg BT 473.85 306.60 Td (oil-bearing ) Tj ET Q q 0 0 0 rg BT 519.18 306.60 Td (formations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (in ) Tj ET Q q 0 0 0 rg BT 59.82 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 74.58 294.60 Td (field. ) Tj ET Q q 0 0 0 rg BT 97.94 294.60 Td ( ) Tj ET Q q 0 0 0 rg BT 100.30 294.60 Td (W) Tj ET Q q 0 0 0 rg BT 108.94 294.60 Td (e ) Tj ET Q q 0 0 0 rg BT 115.92 294.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 160.11 294.60 Td (a ) Tj ET Q q 0 0 0 rg BT 167.09 294.60 Td (total ) Tj ET Q q 0 0 0 rg BT 187.41 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 198.28 294.60 Td (two ) Tj ET Q q 0 0 0 rg BT 215.82 294.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 239.47 294.60 Td (in ) Tj ET Q q 0 0 0 rg BT 249.79 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 264.55 294.60 Td (Perry ) Tj ET Q q 0 0 0 rg BT 288.75 294.60 Td (Sand ) Tj ET Q q 0 0 0 rg BT 311.29 294.60 Td (interval ) Tj ET Q q 0 0 0 rg BT 344.38 294.60 Td (during ) Tj ET Q q 0 0 0 rg BT 373.02 294.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 395.57 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 412.55 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 427.30 294.60 Td (first ) Tj ET Q q 0 0 0 rg BT 445.95 294.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 476.81 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 487.68 294.60 Td (2019. ) Tj ET Q q 0 0 0 rg BT 512.72 294.60 Td ( ) Tj ET Q q 0 0 0 rg BT 515.27 294.60 Td (Overall, ) Tj ET Q q 0 0 0 rg BT 550.29 294.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (two ) Tj ET Q q 0 0 0 rg BT 66.93 282.60 Td (Perry ) Tj ET Q q 0 0 0 rg BT 91.01 282.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 114.55 282.60 Td (were ) Tj ET Q q 0 0 0 rg BT 136.40 282.60 Td (successful; ) Tj ET Q q 0 0 0 rg BT 182.70 282.60 Td (however) Tj ET Q q 0 0 0 rg BT 216.73 282.60 Td (, ) Tj ET Q q 0 0 0 rg BT 221.66 282.60 Td (we ) Tj ET Q q 0 0 0 rg BT 235.74 282.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 255.39 282.60 Td (to ) Tj ET Q q 0 0 0 rg BT 265.59 282.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 301.33 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 315.97 282.60 Td (economics ) Tj ET Q q 0 0 0 rg BT 361.16 282.60 Td (and ) Tj ET Q q 0 0 0 rg BT 378.02 282.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 430.97 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 441.73 282.60 Td (these ) Tj ET Q q 0 0 0 rg BT 464.70 282.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 488.23 282.60 Td (before ) Tj ET Q q 0 0 0 rg BT 516.20 282.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 548.07 282.60 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 91.74 270.60 Td (wells. ) Tj ET Q q 0 0 0 rg BT 117.59 270.60 Td ( ) Tj ET Q q 0 0 0 rg BT 119.84 270.60 Td (In ) Tj ET Q q 0 0 0 rg BT 130.42 270.60 Td (December ) Tj ET Q q 0 0 0 rg BT 173.75 270.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 198.50 270.60 Td (we ) Tj ET Q q 0 0 0 rg BT 212.41 270.60 Td (spudded ) Tj ET Q q 0 0 0 rg BT 247.98 270.60 Td (our ) Tj ET Q q 0 0 0 rg BT 263.56 270.60 Td (first ) Tj ET Q q 0 0 0 rg BT 281.92 270.60 Td (well ) Tj ET Q q 0 0 0 rg BT 301.38 270.60 Td (in ) Tj ET Q q 0 0 0 rg BT 311.41 270.60 Td (the ) Tj ET Q q 0 0 0 rg BT 325.87 270.60 Td (Cotton ) Tj ET Q q 0 0 0 rg BT 355.18 270.60 Td (V) Tj ET Q q 0 0 0 rg BT 361.30 270.60 Td (alley ) Tj ET Q q 0 0 0 rg BT 382.98 270.60 Td (interval ) Tj ET Q q 0 0 0 rg BT 415.77 270.60 Td (and ) Tj ET Q q 0 0 0 rg BT 432.45 270.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 470.79 270.60 Td (expect ) Tj ET Q q 0 0 0 rg BT 499.14 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 509.16 270.60 Td (complete ) Tj ET Q q 0 0 0 rg BT 548.06 270.60 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (well ) Tj ET Q q 0 0 0 rg BT 69.80 258.60 Td (during ) Tj ET Q q 0 0 0 rg BT 99.00 258.60 Td (the ) Tj ET Q q 0 0 0 rg BT 114.30 258.60 Td (first ) Tj ET Q q 0 0 0 rg BT 133.49 258.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 164.90 258.60 Td (of ) Tj ET Q q 0 0 0 rg BT 176.31 258.60 Td (2019. ) Tj ET Q q 0 0 0 rg BT 201.90 258.60 Td ( ) Tj ET Q q 0 0 0 rg BT 204.76 258.60 Td (W) Tj ET Q q 0 0 0 rg BT 213.40 258.60 Td (e ) Tj ET Q q 0 0 0 rg BT 220.92 258.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 258.44 258.60 Td (to ) Tj ET Q q 0 0 0 rg BT 269.31 258.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 305.70 258.60 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 356.56 258.60 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 412.42 258.60 Td (in ) Tj ET Q q 0 0 0 rg BT 423.28 258.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 466.36 258.60 Td (horizons ) Tj ET Q q 0 0 0 rg BT 503.88 258.60 Td (underlying ) Tj ET Q q 0 0 0 rg BT 550.29 258.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 83.67 246.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 97.56 245.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.81 246.60 Td ( ) Tj ET Q q 0 0 0 rg BT 103.31 246.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 125.81 246.60 Td (flood.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 222.60 Td (W) Tj ET Q q 0 0 0 rg BT 76.95 222.60 Td (est ) Tj ET Q q 0 0 0 rg BT 90.87 222.60 Td (Y) Tj ET Q q 0 0 0 rg BT 96.98 222.60 Td (ellow ) Tj ET Q q 0 0 0 rg BT 121.85 222.60 Td (Cr) Tj ET Q q 0 0 0 rg BT 133.33 222.60 Td (eek ) Tj ET Q q 0 0 0 rg BT 150.41 222.60 Td (Field.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.58 222.60 Td ( ) Tj ET Q q 0 0 0 rg BT 177.23 222.60 Td ( ) Tj ET Q q 0 0 0 rg BT 179.69 222.60 Td (W) Tj ET Q q 0 0 0 rg BT 188.33 222.60 Td (e ) Tj ET Q q 0 0 0 rg BT 195.41 222.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 232.49 222.60 Td (an ) Tj ET Q q 0 0 0 rg BT 244.58 222.60 Td (approximate ) Tj ET Q q 0 0 0 rg BT 297.21 222.60 Td (48% ) Tj ET Q q 0 0 0 rg BT 318.19 222.60 Td (non-operated ) Tj ET Q q 0 0 0 rg BT 373.59 222.60 Td (working ) Tj ET Q q 0 0 0 rg BT 409.57 222.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 441.66 222.60 Td (in ) Tj ET Q q 0 0 0 rg BT 451.89 222.60 Td (W) Tj ET Q q 0 0 0 rg BT 460.53 222.60 Td (est ) Tj ET Q q 0 0 0 rg BT 473.90 222.60 Td (Y) Tj ET Q q 0 0 0 rg BT 480.12 222.60 Td (ellow ) Tj ET Q q 0 0 0 rg BT 504.99 222.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 531.51 222.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 554.72 222.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 97.20 210.60 Td (in ) Tj ET Q q 0 0 0 rg BT 107.12 210.60 Td (March ) Tj ET Q q 0 0 0 rg BT 135.35 210.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 157.48 210.60 Td (for ) Tj ET Q q 0 0 0 rg BT 171.27 210.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 231.16 210.60 Td ($16 ) Tj ET Q q 0 0 0 rg BT 248.30 210.60 Td (million, ) Tj ET Q q 0 0 0 rg BT 281.82 210.60 Td (a ) Tj ET Q q 0 0 0 rg BT 288.39 210.60 Td (field ) Tj ET Q q 0 0 0 rg BT 308.85 210.60 Td (in ) Tj ET Q q 0 0 0 rg BT 318.76 210.60 Td (which ) Tj ET Q q 0 0 0 rg BT 345.33 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 359.68 210.60 Td (operator ) Tj ET Q q 0 0 0 rg BT 395.13 210.60 Td (had ) Tj ET Q q 0 0 0 rg BT 411.70 210.60 Td (previously ) Tj ET Q q 0 0 0 rg BT 456.05 210.60 Td (invested ) Tj ET Q q 0 0 0 rg BT 491.51 210.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 535.85 210.60 Td (capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (converting ) Tj ET Q q 0 0 0 rg BT 95.02 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 109.99 198.60 Td (field ) Tj ET Q q 0 0 0 rg BT 131.07 198.60 Td (to ) Tj ET Q q 0 0 0 rg BT 141.61 198.60 Td (a ) Tj ET Q q 0 0 0 rg BT 148.80 198.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 162.69 197.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.94 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 168.70 198.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 191.45 198.60 Td (flood. ) Tj ET Q q 0 0 0 rg BT 217.81 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 220.57 198.60 Td (Under ) Tj ET Q q 0 0 0 rg BT 248.32 198.60 Td (our ) Tj ET Q q 0 0 0 rg BT 264.40 198.60 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 317.13 198.60 Td (with ) Tj ET Q q 0 0 0 rg BT 337.66 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 352.63 198.60 Td (operator) Tj ET Q q 0 0 0 rg BT 385.55 198.60 Td (, ) Tj ET Q q 0 0 0 rg BT 390.80 198.60 Td (we ) Tj ET Q q 0 0 0 rg BT 405.22 198.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 434.64 198.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 448.54 197.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.79 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 454.54 198.60 Td (to ) Tj ET Q q 0 0 0 rg BT 465.07 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 480.05 198.60 Td (field ) Tj ET Q q 0 0 0 rg BT 501.13 198.60 Td (for ) Tj ET Q q 0 0 0 rg BT 515.54 198.60 Td (a ) Tj ET Q q 0 0 0 rg BT 522.74 198.60 Td (fee. ) Tj ET Q q 0 0 0 rg BT 540.20 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 542.76 198.60 Td (W) Tj ET Q q 0 0 0 rg BT 551.39 198.60 Td (est ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.60 Td (Y) Tj ET Q q 0 0 0 rg BT 55.72 186.60 Td (ellow ) Tj ET Q q 0 0 0 rg BT 80.69 186.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 107.32 186.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 130.63 186.60 Td (is ) Tj ET Q q 0 0 0 rg BT 140.05 186.60 Td (in ) Tj ET Q q 0 0 0 rg BT 150.58 186.60 Td (close ) Tj ET Q q 0 0 0 rg BT 173.88 186.60 Td (proximity ) Tj ET Q q 0 0 0 rg BT 216.08 186.60 Td (to ) Tj ET Q q 0 0 0 rg BT 226.61 186.60 Td (and ) Tj ET Q q 0 0 0 rg BT 243.80 186.60 Td (analogous ) Tj ET Q q 0 0 0 rg BT 287.10 186.60 Td (to ) Tj ET Q q 0 0 0 rg BT 297.63 186.60 Td (Eucutta ) Tj ET Q q 0 0 0 rg BT 330.93 186.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 356.74 186.60 Td (a ) Tj ET Q q 0 0 0 rg BT 363.93 186.60 Td (very ) Tj ET Q q 0 0 0 rg BT 384.45 186.60 Td (successful ) Tj ET Q q 0 0 0 rg BT 428.30 186.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 442.19 185.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.44 186.60 Td ( ) Tj ET Q q 0 0 0 rg BT 448.20 186.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 472.06 186.60 Td (that ) Tj ET Q q 0 0 0 rg BT 489.81 186.60 Td (we ) Tj ET Q q 0 0 0 rg BT 504.22 186.60 Td (developed ) Tj ET Q q 0 0 0 rg BT 548.07 186.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 85.82 174.60 Td (to ) Tj ET Q q 0 0 0 rg BT 95.48 174.60 Td (operate. ) Tj ET Q q 0 0 0 rg BT 129.29 174.60 Td ( ) Tj ET Q q 0 0 0 rg BT 131.04 174.60 Td (W) Tj ET Q q 0 0 0 rg BT 139.68 174.60 Td (e ) Tj ET Q q 0 0 0 rg BT 146.01 174.60 Td (booked ) Tj ET Q q 0 0 0 rg BT 177.33 174.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 202.55 174.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 232.20 174.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 262.96 174.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 275.40 174.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 310.05 174.60 Td (at ) Tj ET Q q 0 0 0 rg BT 319.01 174.60 Td (W) Tj ET Q q 0 0 0 rg BT 327.65 174.60 Td (est ) Tj ET Q q 0 0 0 rg BT 340.37 174.60 Td (Y) Tj ET Q q 0 0 0 rg BT 346.59 174.60 Td (ellow ) Tj ET Q q 0 0 0 rg BT 370.69 174.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 396.45 174.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 418.90 174.60 Td (as ) Tj ET Q q 0 0 0 rg BT 429.11 174.60 Td (of ) Tj ET Q q 0 0 0 rg BT 439.33 174.60 Td (year) Tj ET Q q 0 0 0 rg BT 456.34 174.60 Td (-end ) Tj ET Q q 0 0 0 rg BT 475.99 174.60 Td (2017 ) Tj ET Q q 0 0 0 rg BT 497.88 174.60 Td (and ) Tj ET Q q 0 0 0 rg BT 514.20 174.60 Td (commenced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 81.07 162.60 Td (production ) Tj ET Q q 0 0 0 rg BT 127.10 162.60 Td (in ) Tj ET Q q 0 0 0 rg BT 137.57 162.60 Td (early ) Tj ET Q q 0 0 0 rg BT 160.26 162.60 Td (2018. ) Tj ET Q q 0 0 0 rg BT 185.46 162.60 Td ( ) Tj ET Q q 0 0 0 rg BT 188.16 162.60 Td (During ) Tj ET Q q 0 0 0 rg BT 219.19 162.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.10 162.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 261.24 162.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.55 162.60 Td ( ) Tj ET Q q 0 0 0 rg BT 292.25 162.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.28 162.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.28 162.60 Td (, ) Tj ET Q q 0 0 0 rg BT 328.48 162.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 360.05 162.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 373.31 162.60 Td (production ) Tj ET Q q 0 0 0 rg BT 419.33 162.60 Td (from ) Tj ET Q q 0 0 0 rg BT 441.47 162.60 Td (the ) Tj ET Q q 0 0 0 rg BT 456.39 162.60 Td (field ) Tj ET Q q 0 0 0 rg BT 477.41 162.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.20 162.60 Td (375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.20 162.60 Td ( ) Tj ET Q q 0 0 0 rg BT 533.89 162.60 Td (Bbls/d. ) Tj ET Q q 0 0 0 rg BT 565.01 162.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td (Development ) Tj ET Q q 0 0 0 rg BT 104.94 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 114.85 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 128.64 150.60 Td (field ) Tj ET Q q 0 0 0 rg BT 148.53 150.60 Td (is ) Tj ET Q q 0 0 0 rg BT 156.78 150.60 Td (ongoing, ) Tj ET Q q 0 0 0 rg BT 193.63 150.60 Td (with ) Tj ET Q q 0 0 0 rg BT 212.98 150.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 234.55 150.60 Td (development ) Tj ET Q q 0 0 0 rg BT 287.77 150.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 310.45 150.60 Td (including ) Tj ET Q q 0 0 0 rg BT 349.80 150.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 390.80 150.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 421.25 150.60 Td (development ) Tj ET Q q 0 0 0 rg BT 474.47 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 484.37 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 498.16 150.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 523.06 150.60 Td (formation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (within ) Tj ET Q q 0 0 0 rg BT 77.56 138.60 Td (the ) Tj ET Q q 0 0 0 rg BT 92.27 138.60 Td (field.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 114.60 Td (Matur) Tj ET Q q 0 0 0 rg BT 95.09 114.60 Td (e ) Tj ET Q q 0 0 0 rg BT 101.51 114.60 Td (pr) Tj ET Q q 0 0 0 rg BT 111.33 114.60 Td (operties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.70 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 149.68 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 151.66 114.60 Td (Mature ) Tj ET Q q 0 0 0 rg BT 182.52 114.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 224.48 114.60 Td (include ) Tj ET Q q 0 0 0 rg BT 255.90 114.60 Td (our ) Tj ET Q q 0 0 0 rg BT 271.21 114.60 Td (longest-producing ) Tj ET Q q 0 0 0 rg BT 345.95 114.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 387.92 114.60 Td (which ) Tj ET Q q 0 0 0 rg BT 414.34 114.60 Td (are ) Tj ET Q q 0 0 0 rg BT 428.52 114.60 Td (generally ) Tj ET Q q 0 0 0 rg BT 467.71 114.60 Td (located ) Tj ET Q q 0 0 0 rg BT 498.56 114.60 Td (along ) Tj ET Q q 0 0 0 rg BT 522.75 114.60 Td (our ) Tj ET Q q 0 0 0 rg BT 538.06 114.60 Td (NEJD ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 101.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.64 102.60 Td ( ) Tj ET Q q 0 0 0 rg BT 69.73 102.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 105.03 102.60 Td (in ) Tj ET Q q 0 0 0 rg BT 115.89 102.60 Td (southwest ) Tj ET Q q 0 0 0 rg BT 158.98 102.60 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 207.64 102.60 Td (and ) Tj ET Q q 0 0 0 rg BT 225.17 102.60 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 267.69 102.60 Td (and ) Tj ET Q q 0 0 0 rg BT 285.21 102.60 Td (our ) Tj ET Q q 0 0 0 rg BT 301.63 102.60 Td (Free ) Tj ET Q q 0 0 0 rg BT 322.49 102.60 Td (State ) Tj ET Q q 0 0 0 rg BT 345.57 102.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 381.43 102.60 Td (in ) Tj ET Q q 0 0 0 rg BT 392.29 102.60 Td (east ) Tj ET Q q 0 0 0 rg BT 410.93 102.60 Td (Mississippi.��) Tj ET Q q 0 0 0 rg BT 463.82 102.60 Td (This ) Tj ET Q q 0 0 0 rg BT 484.69 102.60 Td (group ) Tj ET Q q 0 0 0 rg BT 511.10 102.60 Td (of ) Tj ET Q q 0 0 0 rg BT 522.52 102.60 Td (properties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 84.93 90.60 Td (our ) Tj ET Q q 0 0 0 rg BT 100.36 90.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 125.79 90.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 139.68 89.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.93 90.60 Td ( ) Tj ET Q q 0 0 0 rg BT 145.03 90.60 Td (field, ) Tj ET Q q 0 0 0 rg BT 167.96 90.60 Td (Little ) Tj ET Q q 0 0 0 rg BT 191.72 90.60 Td (Creek, ) Tj ET Q q 0 0 0 rg BT 220.20 90.60 Td (as ) Tj ET Q q 0 0 0 rg BT 230.64 90.60 Td (well ) Tj ET Q q 0 0 0 rg BT 249.95 90.60 Td (as ) Tj ET Q q 0 0 0 rg BT 260.39 90.60 Td (several ) Tj ET Q q 0 0 0 rg BT 290.80 90.60 Td (other ) Tj ET Q q 0 0 0 rg BT 313.45 90.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 337.77 90.60 Td (\(Brookhaven, ) Tj ET Q q 0 0 0 rg BT 394.58 90.60 Td (Cranfield, ) Tj ET Q q 0 0 0 rg BT 436.95 90.60 Td (Eucutta, ) Tj ET Q q 0 0 0 rg BT 472.09 90.60 Td (Mallalieu, ) Tj ET Q q 0 0 0 rg BT 515.01 90.60 Td (Martinville, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.60 Td (McComb ) Tj ET Q q 0 0 0 rg BT 89.63 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 106.43 78.60 Td (Soso ) Tj ET Q q 0 0 0 rg BT 128.24 78.60 Td (fields\).��) Tj ET Q q 0 0 0 rg BT 161.10 78.60 Td (These ) Tj ET Q q 0 0 0 rg BT 187.34 78.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 211.91 78.60 Td (accounted ) Tj ET Q q 0 0 0 rg BT 254.80 78.60 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.81 78.60 Td (18%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.14 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 289.50 78.60 Td (of ) Tj ET Q q 0 0 0 rg BT 300.19 78.60 Td (our ) Tj ET Q q 0 0 0 rg BT 315.87 78.60 Td (total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.00 78.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.00 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 358.36 78.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 372.25 77.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.50 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 377.85 78.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 400.21 78.60 Td (production ) Tj ET Q q 0 0 0 rg BT 445.89 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 462.69 78.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.80 78.60 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.13 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 538.49 78.60 Td (of ) Tj ET Q q 0 0 0 rg BT 549.17 78.60 Td (our ) Tj ET Q endstream endobj 33 0 obj <> endobj 34 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (year) Tj ET Q q 0 0 0 rg BT 66.51 726.60 Td (-end ) Tj ET Q q 0 0 0 rg BT 86.59 726.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 116.67 726.60 Td (reserves.��) Tj ET Q q 0 0 0 rg BT 156.75 726.60 Td (These ) Tj ET Q q 0 0 0 rg BT 182.94 726.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 207.47 726.60 Td (have ) Tj ET Q q 0 0 0 rg BT 228.66 726.60 Td (been ) Tj ET Q q 0 0 0 rg BT 249.85 726.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 292.71 726.60 Td (under ) Tj ET Q q 0 0 0 rg BT 317.79 726.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 331.68 725.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.93 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 337.25 726.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 360.67 726.60 Td (for ) Tj ET Q q 0 0 0 rg BT 374.64 726.60 Td (many ) Tj ET Q q 0 0 0 rg BT 399.17 726.60 Td (years, ) Tj ET Q q 0 0 0 rg BT 425.09 726.60 Td (in ) Tj ET Q q 0 0 0 rg BT 435.18 726.60 Td (many ) Tj ET Q q 0 0 0 rg BT 459.71 726.60 Td (cases ) Tj ET Q q 0 0 0 rg BT 483.12 726.60 Td (more ) Tj ET Q q 0 0 0 rg BT 505.98 726.60 Td (than ) Tj ET Q q 0 0 0 rg BT 525.51 726.60 Td (a ) Tj ET Q q 0 0 0 rg BT 532.26 726.60 Td (decade, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 714.60 Td (their ) Tj ET Q q 0 0 0 rg BT 87.26 714.60 Td (production ) Tj ET Q q 0 0 0 rg BT 133.09 714.60 Td (is ) Tj ET Q q 0 0 0 rg BT 142.26 714.60 Td (generally ) Tj ET Q q 0 0 0 rg BT 181.96 714.60 Td (declining.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 690.60 Td (Futur) Tj ET Q q 0 0 0 rg BT 71.91 690.60 Td (e ) Tj ET Q q 0 0 0 rg BT 78.85 690.60 Td (T) Tj ET Q q 0 0 0 rg BT 83.49 690.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 113.21 690.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 122.83 690.60 Td (operties ) Tj ET Q q 0 0 0 rg BT 157.55 690.60 Td (with ) Tj ET Q q 0 0 0 rg BT 177.28 690.60 Td (No ) Tj ET Q q 0 0 0 rg BT 191.45 690.60 Td (T) Tj ET Q q 0 0 0 rg BT 196.09 690.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 225.81 690.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 235.44 690.60 Td (oduction ) Tj ET Q q 0 0 0 rg BT 272.93 690.60 Td (or ) Tj ET Q q 0 0 0 rg BT 284.32 690.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 293.95 690.60 Td (oved ) Tj ET Q q 0 0 0 rg BT 315.33 690.60 Td (T) Tj ET Q q 0 0 0 rg BT 319.97 690.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 349.69 690.60 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 387.73 690.60 Td (at ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 398.01 690.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 456.59 690.60 Td (2018) Tj ET Q BT /F4 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 666.60 Td (W) Tj ET Q q 0 0 0 rg BT 76.95 666.60 Td (ebster) Tj ET Q q 0 0 0 rg BT 102.87 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 106.76 666.60 Td (Field. ) Tj ET Q q 0 0 0 rg BT 134.82 666.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.71 666.60 Td (W) Tj ET Q q 0 0 0 rg BT 147.35 666.60 Td (e ) Tj ET Q q 0 0 0 rg BT 155.69 666.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 194.00 666.60 Td (our ) Tj ET Q q 0 0 0 rg BT 211.23 666.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 244.56 666.60 Td (in ) Tj ET Q q 0 0 0 rg BT 255.95 666.60 Td (W) Tj ET Q q 0 0 0 rg BT 264.59 666.60 Td (ebster ) Tj ET Q q 0 0 0 rg BT 292.36 666.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 316.81 666.60 Td (in ) Tj ET Q q 0 0 0 rg BT 328.48 666.60 Td (2012. ) Tj ET Q q 0 0 0 rg BT 354.88 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 358.49 666.60 Td (The ) Tj ET Q q 0 0 0 rg BT 377.93 666.60 Td (field ) Tj ET Q q 0 0 0 rg BT 400.15 666.60 Td (is ) Tj ET Q q 0 0 0 rg BT 410.71 666.60 Td (located ) Tj ET Q q 0 0 0 rg BT 443.48 666.60 Td (southeast ) Tj ET Q q 0 0 0 rg BT 484.59 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 496.82 666.60 Td (Houston, ) Tj ET Q q 0 0 0 rg BT 536.82 666.60 Td (T) Tj ET Q q 0 0 0 rg BT 542.23 666.60 Td (exas, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 110.38 654.60 Td (eight ) Tj ET Q q 0 0 0 rg BT 133.49 654.60 Td (miles ) Tj ET Q q 0 0 0 rg BT 158.27 654.60 Td (northeast ) Tj ET Q q 0 0 0 rg BT 198.04 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 209.49 654.60 Td (our ) Tj ET Q q 0 0 0 rg BT 225.94 654.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 264.06 654.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 287.73 654.60 Td (which ) Tj ET Q q 0 0 0 rg BT 315.29 654.60 Td (we ) Tj ET Q q 0 0 0 rg BT 330.07 654.60 Td (are ) Tj ET Q q 0 0 0 rg BT 345.39 654.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 384.60 654.60 Td (flooding ) Tj ET Q q 0 0 0 rg BT 421.61 654.60 Td (with ) Tj ET Q q 0 0 0 rg BT 442.50 654.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 456.39 653.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.64 654.60 Td (. ) Tj ET Q q 0 0 0 rg BT 465.26 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 467.69 654.60 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.81 654.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 540.01 654.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 654.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 642.60 Td (ebster ) Tj ET Q q 0 0 0 rg BT 84.85 642.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 108.24 642.60 Td (had ) Tj ET Q q 0 0 0 rg BT 125.51 642.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 166.66 642.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 197.27 642.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 247.30 642.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 282.89 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 294.06 642.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 354.65 642.60 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 369.98 642.60 Td (MMBOE, ) Tj ET Q q 0 0 0 rg BT 413.10 642.60 Td (net ) Tj ET Q q 0 0 0 rg BT 428.15 642.60 Td (to ) Tj ET Q q 0 0 0 rg BT 438.76 642.60 Td (our ) Tj ET Q q 0 0 0 rg BT 454.93 642.60 Td (interest.��During ) Tj ET Q q 0 0 0 rg BT 523.02 642.60 Td (the ) Tj ET Q q 0 0 0 rg BT 538.07 642.60 Td (fourth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 80.49 630.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.50 630.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.50 630.60 Td (, ) Tj ET Q q 0 0 0 rg BT 116.67 630.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 166.55 630.60 Td (production ) Tj ET Q q 0 0 0 rg BT 212.55 630.60 Td (at ) Tj ET Q q 0 0 0 rg BT 222.25 630.60 Td (W) Tj ET Q q 0 0 0 rg BT 230.88 630.60 Td (ebster ) Tj ET Q q 0 0 0 rg BT 257.43 630.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 280.67 630.60 Td (averaged ) Tj ET Q q 0 0 0 rg BT 319.42 630.60 Td (841 ) Tj ET Q q 0 0 0 rg BT 337.10 630.60 Td (BOE/d, ) Tj ET Q q 0 0 0 rg BT 370.05 630.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 412.15 630.60 Td (to ) Tj ET Q q 0 0 0 rg BT 422.60 630.60 Td (834 ) Tj ET Q q 0 0 0 rg BT 440.28 630.60 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 470.73 630.60 Td (in ) Tj ET Q q 0 0 0 rg BT 481.19 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 496.08 630.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 523.19 630.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 554.18 630.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 618.60 Td (.��) Tj ET Q q 0 0 0 rg BT 76.82 618.60 Td (W) Tj ET Q q 0 0 0 rg BT 85.46 618.60 Td (ebster ) Tj ET Q q 0 0 0 rg BT 111.83 618.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 134.88 618.60 Td (is ) Tj ET Q q 0 0 0 rg BT 144.05 618.60 Td (geologically ) Tj ET Q q 0 0 0 rg BT 195.97 618.60 Td (similar ) Tj ET Q q 0 0 0 rg BT 226.24 618.60 Td (to ) Tj ET Q q 0 0 0 rg BT 236.51 618.60 Td (our ) Tj ET Q q 0 0 0 rg BT 252.34 618.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 289.83 618.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 315.38 618.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 358.43 618.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 371.48 618.60 Td (from ) Tj ET Q q 0 0 0 rg BT 393.41 618.60 Td (the ) Tj ET Q q 0 0 0 rg BT 408.12 618.60 Td (Frio ) Tj ET Q q 0 0 0 rg BT 427.29 618.60 Td (zone ) Tj ET Q q 0 0 0 rg BT 448.66 618.60 Td (at ) Tj ET Q q 0 0 0 rg BT 458.37 618.60 Td (similar ) Tj ET Q q 0 0 0 rg BT 488.64 618.60 Td (depths; ) Tj ET Q q 0 0 0 rg BT 520.02 618.60 Td (as ) Tj ET Q q 0 0 0 rg BT 530.85 618.60 Td (a ) Tj ET Q q 0 0 0 rg BT 537.78 618.60 Td (result, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (we ) Tj ET Q q 0 0 0 rg BT 64.18 606.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 96.08 606.60 Td (it ) Tj ET Q q 0 0 0 rg BT 104.66 606.60 Td (is ) Tj ET Q q 0 0 0 rg BT 114.35 606.60 Td (well ) Tj ET Q q 0 0 0 rg BT 134.59 606.60 Td (suited ) Tj ET Q q 0 0 0 rg BT 161.50 606.60 Td (for ) Tj ET Q q 0 0 0 rg BT 176.18 606.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 190.07 605.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.32 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 196.34 606.60 Td (EOR. ) Tj ET Q q 0 0 0 rg BT 221.87 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 224.89 606.60 Td (In ) Tj ET Q q 0 0 0 rg BT 236.24 606.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 261.76 606.60 Td (we ) Tj ET Q q 0 0 0 rg BT 276.45 606.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 321.12 606.60 Td (a ) Tj ET Q q 0 0 0 rg BT 328.58 606.60 Td (nine-mile ) Tj ET Q q 0 0 0 rg BT 369.92 606.60 Td (lateral ) Tj ET Q q 0 0 0 rg BT 397.93 606.60 Td (between ) Tj ET Q q 0 0 0 rg BT 434.26 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 449.50 606.60 Td (Green ) Tj ET Q q 0 0 0 rg BT 476.95 606.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 512.75 606.60 Td (and ) Tj ET Q q 0 0 0 rg BT 529.99 606.60 Td (W) Tj ET Q q 0 0 0 rg BT 538.63 606.60 Td (ebster ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 75.15 594.60 Td (which ) Tj ET Q q 0 0 0 rg BT 102.18 594.60 Td (we ) Tj ET Q q 0 0 0 rg BT 116.44 594.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 136.25 594.60 Td (will ) Tj ET Q q 0 0 0 rg BT 154.40 594.60 Td (eventually ) Tj ET Q q 0 0 0 rg BT 198.64 594.60 Td (deliver ) Tj ET Q q 0 0 0 rg BT 229.00 594.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 242.89 593.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.14 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 248.74 594.60 Td (to ) Tj ET Q q 0 0 0 rg BT 259.11 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 273.92 594.60 Td (field. ) Tj ET Q q 0 0 0 rg BT 297.34 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 299.75 594.60 Td (The ) Tj ET Q q 0 0 0 rg BT 317.89 594.60 Td (timing ) Tj ET Q q 0 0 0 rg BT 346.60 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 357.52 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 372.33 594.60 Td (development ) Tj ET Q q 0 0 0 rg BT 426.58 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 437.50 594.60 Td (a ) Tj ET Q q 0 0 0 rg BT 444.53 594.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 458.42 593.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.67 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 464.27 594.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 487.97 594.60 Td (at ) Tj ET Q q 0 0 0 rg BT 497.59 594.60 Td (W) Tj ET Q q 0 0 0 rg BT 506.23 594.60 Td (ebster ) Tj ET Q q 0 0 0 rg BT 532.70 594.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 555.85 594.60 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 89.21 582.60 Td (dependent ) Tj ET Q q 0 0 0 rg BT 132.81 582.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 155.31 582.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 184.46 582.60 Td (availability ) Tj ET Q q 0 0 0 rg BT 231.94 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 248.88 582.60 Td (priorities ) Tj ET Q q 0 0 0 rg BT 287.48 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 304.42 582.60 Td (future ) Tj ET Q q 0 0 0 rg BT 330.80 582.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 343.86 582.60 Td (prices.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 558.60 Td (Conr) Tj ET Q q 0 0 0 rg BT 89.54 558.60 Td (oe ) Tj ET Q q 0 0 0 rg BT 100.26 558.60 Td (Field.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.43 558.60 Td (Conroe ) Tj ET Q q 0 0 0 rg BT 160.15 558.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 184.49 558.60 Td (our ) Tj ET Q q 0 0 0 rg BT 199.10 558.60 Td (lar) Tj ET Q q 0 0 0 rg BT 209.47 558.60 Td (gest ) Tj ET Q q 0 0 0 rg BT 226.86 558.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 263.13 558.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 293.29 558.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 315.68 558.60 Td (in ) Tj ET Q q 0 0 0 rg BT 324.74 558.60 Td (the ) Tj ET Q q 0 0 0 rg BT 338.24 558.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 357.86 558.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 381.92 558.60 Td (region, ) Tj ET Q q 0 0 0 rg BT 411.25 558.60 Td (is ) Tj ET Q q 0 0 0 rg BT 419.20 558.60 Td (located ) Tj ET Q q 0 0 0 rg BT 449.36 558.60 Td (north ) Tj ET Q q 0 0 0 rg BT 471.75 558.60 Td (of ) Tj ET Q q 0 0 0 rg BT 481.36 558.60 Td (Houston, ) Tj ET Q q 0 0 0 rg BT 518.94 558.60 Td (T) Tj ET Q q 0 0 0 rg BT 524.35 558.60 Td (exas.��) Tj ET Q q 0 0 0 rg BT 549.44 558.60 Td (W) Tj ET Q q 0 0 0 rg BT 558.08 558.60 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 86.53 546.60 Td (a ) Tj ET Q q 0 0 0 rg BT 93.58 546.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 130.07 546.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 162.11 546.60 Td (in ) Tj ET Q q 0 0 0 rg BT 172.49 546.60 Td (this ) Tj ET Q q 0 0 0 rg BT 189.55 546.60 Td (field ) Tj ET Q q 0 0 0 rg BT 210.48 546.60 Td (in ) Tj ET Q q 0 0 0 rg BT 220.87 546.60 Td (2009 ) Tj ET Q q 0 0 0 rg BT 243.47 546.60 Td (for ) Tj ET Q q 0 0 0 rg BT 257.74 546.60 Td ($271 ) Tj ET Q q 0 0 0 rg BT 280.35 546.60 Td (million ) Tj ET Q q 0 0 0 rg BT 311.85 546.60 Td (in ) Tj ET Q q 0 0 0 rg BT 322.23 546.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 342.61 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 359.66 546.60 Td (1) Tj ET Q q 0 0 0 rg BT 364.29 546.60 Td (1.6 ) Tj ET Q q 0 0 0 rg BT 379.39 546.60 Td (million ) Tj ET Q q 0 0 0 rg BT 410.89 546.60 Td (shares ) Tj ET Q q 0 0 0 rg BT 438.49 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 449.43 546.60 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 487.02 546.60 Td (common ) Tj ET Q q 0 0 0 rg BT 524.63 546.60 Td (stock, ) Tj ET Q q 0 0 0 rg BT 550.84 546.60 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (a ) Tj ET Q q 0 0 0 rg BT 56.36 534.60 Td (total ) Tj ET Q q 0 0 0 rg BT 76.55 534.60 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 117.83 534.60 Td (value ) Tj ET Q q 0 0 0 rg BT 141.90 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 152.65 534.60 Td ($439 ) Tj ET Q q 0 0 0 rg BT 175.07 534.60 Td (million.��Conroe ) Tj ET Q q 0 0 0 rg BT 243.32 534.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 266.29 534.60 Td (had ) Tj ET Q q 0 0 0 rg BT 283.15 534.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 323.89 534.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 354.08 534.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 403.70 534.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 438.87 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 449.62 534.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 509.80 534.60 Td (9.9 ) Tj ET Q q 0 0 0 rg BT 524.72 534.60 Td (MMBOE ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.66 522.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 118.69 522.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.69 522.60 Td (, ) Tj ET Q q 0 0 0 rg BT 144.13 522.60 Td (net ) Tj ET Q q 0 0 0 rg BT 159.29 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 170.02 522.60 Td (our ) Tj ET Q q 0 0 0 rg BT 186.29 522.60 Td (interest, ) Tj ET Q q 0 0 0 rg BT 221.17 522.60 Td (all ) Tj ET Q q 0 0 0 rg BT 234.11 522.60 Td (of ) Tj ET Q q 0 0 0 rg BT 245.38 522.60 Td (which ) Tj ET Q q 0 0 0 rg BT 272.77 522.60 Td (are ) Tj ET Q q 0 0 0 rg BT 287.92 522.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 318.63 522.60 Td (developed.��During ) Tj ET Q q 0 0 0 rg BT 398.50 522.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.66 522.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 441.04 522.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.36 522.60 Td ( ) Tj ET Q q 0 0 0 rg BT 472.30 522.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.58 522.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.58 522.60 Td (, ) Tj ET Q q 0 0 0 rg BT 509.02 522.60 Td (production ) Tj ET Q q 0 0 0 rg BT 555.29 522.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (Conroe ) Tj ET Q q 0 0 0 rg BT 81.44 510.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 104.50 510.60 Td (averaged ) Tj ET Q q 0 0 0 rg BT 143.08 510.60 Td (1,970 ) Tj ET Q q 0 0 0 rg BT 168.08 510.60 Td (BOE/d, ) Tj ET Q q 0 0 0 rg BT 200.86 510.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 242.78 510.60 Td (to ) Tj ET Q q 0 0 0 rg BT 253.06 510.60 Td (2,140 ) Tj ET Q q 0 0 0 rg BT 278.06 510.60 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 308.34 510.60 Td (in ) Tj ET Q q 0 0 0 rg BT 318.62 510.60 Td (the ) Tj ET Q q 0 0 0 rg BT 333.33 510.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 360.27 510.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 391.09 510.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.92 510.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.92 510.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 486.60 Td (T) Tj ET Q q 0 0 0 rg BT 72.91 486.60 Td (o ) Tj ET Q q 0 0 0 rg BT 79.87 486.60 Td (initiate ) Tj ET Q q 0 0 0 rg BT 109.60 486.60 Td (a ) Tj ET Q q 0 0 0 rg BT 116.00 486.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 129.89 485.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.14 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 135.10 486.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 158.17 486.60 Td (at ) Tj ET Q q 0 0 0 rg BT 167.35 486.60 Td (Conroe ) Tj ET Q q 0 0 0 rg BT 198.75 486.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 223.76 486.60 Td (a ) Tj ET Q q 0 0 0 rg BT 230.16 486.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 264.33 486.60 Td (must ) Tj ET Q q 0 0 0 rg BT 285.74 486.60 Td (be ) Tj ET Q q 0 0 0 rg BT 297.14 486.60 Td (constructed ) Tj ET Q q 0 0 0 rg BT 345.20 486.60 Td (so ) Tj ET Q q 0 0 0 rg BT 356.05 486.60 Td (that ) Tj ET Q q 0 0 0 rg BT 373.00 486.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 386.89 485.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.14 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 392.10 486.60 Td (can ) Tj ET Q q 0 0 0 rg BT 407.94 486.60 Td (be ) Tj ET Q q 0 0 0 rg BT 419.34 486.60 Td (delivered ) Tj ET Q q 0 0 0 rg BT 458.50 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 468.24 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 482.42 486.60 Td (field.��) Tj ET Q q 0 0 0 rg BT 508.06 486.60 Td (This ) Tj ET Q q 0 0 0 rg BT 527.80 486.60 Td (pipeline, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (which ) Tj ET Q q 0 0 0 rg BT 76.80 474.60 Td (is ) Tj ET Q q 0 0 0 rg BT 86.33 474.60 Td (planned ) Tj ET Q q 0 0 0 rg BT 120.85 474.60 Td (as ) Tj ET Q q 0 0 0 rg BT 132.04 474.60 Td (an ) Tj ET Q q 0 0 0 rg BT 144.34 474.60 Td (extension ) Tj ET Q q 0 0 0 rg BT 185.53 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 196.72 474.60 Td (our ) Tj ET Q q 0 0 0 rg BT 212.91 474.60 Td (Green ) Tj ET Q q 0 0 0 rg BT 240.20 474.60 Td (Pipeline, ) Tj ET Q q 0 0 0 rg BT 278.33 474.60 Td (is ) Tj ET Q q 0 0 0 rg BT 287.86 474.60 Td (preliminarily ) Tj ET Q q 0 0 0 rg BT 342.93 474.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 384.11 474.60 Td (to ) Tj ET Q q 0 0 0 rg BT 394.75 474.60 Td (cover ) Tj ET Q q 0 0 0 rg BT 419.82 474.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 480.44 474.60 Td (90 ) Tj ET Q q 0 0 0 rg BT 493.30 474.60 Td (miles ) Tj ET Q q 0 0 0 rg BT 517.83 474.60 Td (at ) Tj ET Q q 0 0 0 rg BT 527.91 474.60 Td (a ) Tj ET Q q 0 0 0 rg BT 535.21 474.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 554.18 474.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 109.56 462.60 Td ($220 ) Tj ET Q q 0 0 0 rg BT 131.86 462.60 Td (million. ) Tj ET Q q 0 0 0 rg BT 165.55 462.60 Td ( ) Tj ET Q q 0 0 0 rg BT 167.85 462.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 185.70 462.60 Td (current ) Tj ET Q q 0 0 0 rg BT 216.32 462.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 235.83 462.60 Td (for ) Tj ET Q q 0 0 0 rg BT 249.79 462.60 Td (initiating ) Tj ET Q q 0 0 0 rg BT 288.20 462.60 Td (a ) Tj ET Q q 0 0 0 rg BT 294.94 462.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 308.83 461.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.08 462.60 Td ( ) Tj ET Q q 0 0 0 rg BT 314.38 462.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 337.79 462.60 Td (at ) Tj ET Q q 0 0 0 rg BT 347.31 462.60 Td (Conroe ) Tj ET Q q 0 0 0 rg BT 379.04 462.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 401.90 462.60 Td (is ) Tj ET Q q 0 0 0 rg BT 410.87 462.60 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 453.15 462.60 Td (several ) Tj ET Q q 0 0 0 rg BT 483.77 462.60 Td (years ) Tj ET Q q 0 0 0 rg BT 507.17 462.60 Td (from ) Tj ET Q q 0 0 0 rg BT 528.91 462.60 Td (now) Tj ET Q q 0 0 0 rg BT 545.48 462.60 Td (, ) Tj ET Q q 0 0 0 rg BT 550.28 462.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (timing ) Tj ET Q q 0 0 0 rg BT 78.11 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 88.94 450.60 Td (which ) Tj ET Q q 0 0 0 rg BT 115.88 450.60 Td (may ) Tj ET Q q 0 0 0 rg BT 135.60 450.60 Td (change ) Tj ET Q q 0 0 0 rg BT 166.41 450.60 Td (depending ) Tj ET Q q 0 0 0 rg BT 210.57 450.60 Td (on ) Tj ET Q q 0 0 0 rg BT 223.07 450.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 252.22 450.60 Td (availability ) Tj ET Q q 0 0 0 rg BT 299.71 450.60 Td (and ) Tj ET Q q 0 0 0 rg BT 316.64 450.60 Td (priorities, ) Tj ET Q q 0 0 0 rg BT 357.75 450.60 Td (future ) Tj ET Q q 0 0 0 rg BT 384.12 450.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 397.18 450.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 423.56 450.60 Td (and ) Tj ET Q q 0 0 0 rg BT 440.50 450.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 475.21 450.60 Td (construction.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 426.60 Td (In ) Tj ET Q q 0 0 0 rg BT 78.04 426.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 113.03 426.60 Td (to ) Tj ET Q q 0 0 0 rg BT 123.02 426.60 Td (the ) Tj ET Q q 0 0 0 rg BT 137.45 426.60 Td (currently-producing ) Tj ET Q q 0 0 0 rg BT 219.64 426.60 Td (oil-bearing ) Tj ET Q q 0 0 0 rg BT 265.72 426.60 Td (formations ) Tj ET Q q 0 0 0 rg BT 311.26 426.60 Td (at ) Tj ET Q q 0 0 0 rg BT 320.69 426.60 Td (Conroe ) Tj ET Q q 0 0 0 rg BT 352.34 426.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 377.61 426.60 Td (we ) Tj ET Q q 0 0 0 rg BT 391.49 426.60 Td (are ) Tj ET Q q 0 0 0 rg BT 405.91 426.60 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 449.77 426.60 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 499.75 426.60 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 554.74 426.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (other ) Tj ET Q q 0 0 0 rg BT 72.55 414.60 Td (formations, ) Tj ET Q q 0 0 0 rg BT 120.87 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 137.81 414.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 176.40 414.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 196.12 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 206.40 414.60 Td (drill ) Tj ET Q q 0 0 0 rg BT 225.56 414.60 Td (a ) Tj ET Q q 0 0 0 rg BT 232.50 414.60 Td (test ) Tj ET Q q 0 0 0 rg BT 248.89 414.60 Td (well ) Tj ET Q q 0 0 0 rg BT 268.61 414.60 Td (within ) Tj ET Q q 0 0 0 rg BT 296.66 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 311.38 414.60 Td (2A) Tj ET Q q 0 0 0 rg BT 323.05 414.60 Td ( ) Tj ET Q q 0 0 0 rg BT 325.55 414.60 Td (Sand ) Tj ET Q q 0 0 0 rg BT 348.05 414.60 Td (interval ) Tj ET Q q 0 0 0 rg BT 381.09 414.60 Td (during ) Tj ET Q q 0 0 0 rg BT 409.70 414.60 Td (2019.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 390.60 Td (Thompson ) Tj ET Q q 0 0 0 rg BT 115.46 390.60 Td (Field. ) Tj ET Q q 0 0 0 rg BT 142.00 390.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.38 390.60 Td (W) Tj ET Q q 0 0 0 rg BT 153.02 390.60 Td (e ) Tj ET Q q 0 0 0 rg BT 159.84 390.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 196.64 390.60 Td (our ) Tj ET Q q 0 0 0 rg BT 212.35 390.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 244.17 390.60 Td (in ) Tj ET Q q 0 0 0 rg BT 254.15 390.60 Td (Thompson ) Tj ET Q q 0 0 0 rg BT 299.31 390.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 322.25 390.60 Td (in ) Tj ET Q q 0 0 0 rg BT 332.41 390.60 Td (June ) Tj ET Q q 0 0 0 rg BT 353.12 390.60 Td (2012 ) Tj ET Q q 0 0 0 rg BT 375.50 390.60 Td (for ) Tj ET Q q 0 0 0 rg BT 389.54 390.60 Td ($366 ) Tj ET Q q 0 0 0 rg BT 411.92 390.60 Td (million. ) Tj ET Q q 0 0 0 rg BT 445.69 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 447.90 390.60 Td (The ) Tj ET Q q 0 0 0 rg BT 465.83 390.60 Td (field ) Tj ET Q q 0 0 0 rg BT 486.53 390.60 Td (is ) Tj ET Q q 0 0 0 rg BT 495.58 390.60 Td (located ) Tj ET Q q 0 0 0 rg BT 526.84 390.60 Td (in ) Tj ET Q q 0 0 0 rg BT 536.82 390.60 Td (T) Tj ET Q q 0 0 0 rg BT 542.23 390.60 Td (exas, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 109.36 378.60 Td (18 ) Tj ET Q q 0 0 0 rg BT 121.47 378.60 Td (miles ) Tj ET Q q 0 0 0 rg BT 145.24 378.60 Td (west ) Tj ET Q q 0 0 0 rg BT 165.67 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 176.11 378.60 Td (our ) Tj ET Q q 0 0 0 rg BT 191.54 378.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 228.65 378.60 Td (Field. ) Tj ET Q q 0 0 0 rg BT 253.81 378.60 Td ( ) Tj ET Q q 0 0 0 rg BT 255.76 378.60 Td (Thompson ) Tj ET Q q 0 0 0 rg BT 300.64 378.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 323.30 378.60 Td (had ) Tj ET Q q 0 0 0 rg BT 339.85 378.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 380.27 378.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 410.14 378.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 459.45 378.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 494.31 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 504.75 378.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (3.9 ) Tj ET Q q 0 0 0 rg BT 64.96 366.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 105.70 366.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.87 366.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 174.92 366.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.92 366.60 Td (, ) Tj ET Q q 0 0 0 rg BT 200.37 366.60 Td (net ) Tj ET Q q 0 0 0 rg BT 215.55 366.60 Td (to ) Tj ET Q q 0 0 0 rg BT 226.29 366.60 Td (our ) Tj ET Q q 0 0 0 rg BT 242.57 366.60 Td (interest, ) Tj ET Q q 0 0 0 rg BT 277.46 366.60 Td (all ) Tj ET Q q 0 0 0 rg BT 290.42 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 301.71 366.60 Td (which ) Tj ET Q q 0 0 0 rg BT 329.10 366.60 Td (are ) Tj ET Q q 0 0 0 rg BT 344.27 366.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 374.99 366.60 Td (developed.��During ) Tj ET Q q 0 0 0 rg BT 454.88 366.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.05 366.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 497.45 366.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.76 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 528.72 366.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.01 366.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 366.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 99.08 354.60 Td (production ) Tj ET Q q 0 0 0 rg BT 144.79 354.60 Td (at ) Tj ET Q q 0 0 0 rg BT 154.22 354.60 Td (Thompson ) Tj ET Q q 0 0 0 rg BT 199.38 354.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 222.32 354.60 Td (averaged ) Tj ET Q q 0 0 0 rg BT 260.78 354.60 Td (942 ) Tj ET Q q 0 0 0 rg BT 278.16 354.60 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 308.32 354.60 Td (net ) Tj ET Q q 0 0 0 rg BT 322.92 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 333.08 354.60 Td (our ) Tj ET Q q 0 0 0 rg BT 348.79 354.60 Td (interest, ) Tj ET Q q 0 0 0 rg BT 383.11 354.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 424.92 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 435.08 354.60 Td (987 ) Tj ET Q q 0 0 0 rg BT 452.46 354.60 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 482.62 354.60 Td (in ) Tj ET Q q 0 0 0 rg BT 492.78 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 507.38 354.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 534.20 354.60 Td (quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.77 342.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.77 342.60 Td (.� ) Tj ET Q q 0 0 0 rg BT 88.50 342.60 Td (Thompson ) Tj ET Q q 0 0 0 rg BT 134.22 342.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 157.72 342.60 Td (is ) Tj ET Q q 0 0 0 rg BT 167.33 342.60 Td (geologically ) Tj ET Q q 0 0 0 rg BT 219.70 342.60 Td (similar ) Tj ET Q q 0 0 0 rg BT 250.42 342.60 Td (to ) Tj ET Q q 0 0 0 rg BT 261.14 342.60 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 299.08 342.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 325.08 342.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 368.57 342.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 382.07 342.60 Td (from ) Tj ET Q q 0 0 0 rg BT 404.45 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 419.60 342.60 Td (Frio ) Tj ET Q q 0 0 0 rg BT 439.22 342.60 Td (zone ) Tj ET Q q 0 0 0 rg BT 461.04 342.60 Td (at ) Tj ET Q q 0 0 0 rg BT 471.19 342.60 Td (similar ) Tj ET Q q 0 0 0 rg BT 501.91 342.60 Td (depths, ) Tj ET Q q 0 0 0 rg BT 533.46 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 550.84 342.60 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (therefore ) Tj ET Q q 0 0 0 rg BT 88.00 330.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 119.30 330.60 Td (it ) Tj ET Q q 0 0 0 rg BT 127.28 330.60 Td (has ) Tj ET Q q 0 0 0 rg BT 143.03 330.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 156.92 329.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.17 330.60 Td ( ) Tj ET Q q 0 0 0 rg BT 162.59 330.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 185.01 330.60 Td (potential. ) Tj ET Q q 0 0 0 rg BT 224.92 330.60 Td ( ) Tj ET Q q 0 0 0 rg BT 227.34 330.60 Td (Under ) Tj ET Q q 0 0 0 rg BT 254.75 330.60 Td (the ) Tj ET Q q 0 0 0 rg BT 269.39 330.60 Td (terms ) Tj ET Q q 0 0 0 rg BT 294.03 330.60 Td (of ) Tj ET Q q 0 0 0 rg BT 304.78 330.60 Td (the ) Tj ET Q q 0 0 0 rg BT 319.24 330.60 Td (Thompson ) Tj ET Q q 0 0 0 rg BT 364.44 330.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 387.42 330.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 433.72 330.60 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 480.28 330.60 Td (after ) Tj ET Q q 0 0 0 rg BT 501.02 330.60 Td (the ) Tj ET Q q 0 0 0 rg BT 515.66 330.60 Td (initiation ) Tj ET Q q 0 0 0 rg BT 554.19 330.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 317.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.64 318.60 Td ( ) Tj ET Q q 0 0 0 rg BT 69.59 318.60 Td (injection, ) Tj ET Q q 0 0 0 rg BT 110.02 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 125.18 318.60 Td (seller ) Tj ET Q q 0 0 0 rg BT 149.78 318.60 Td (will ) Tj ET Q q 0 0 0 rg BT 168.28 318.60 Td (retain ) Tj ET Q q 0 0 0 rg BT 193.99 318.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 254.69 318.60 Td (a ) Tj ET Q q 0 0 0 rg BT 262.08 318.60 Td (5% ) Tj ET Q q 0 0 0 rg BT 278.35 318.60 Td (gross ) Tj ET Q q 0 0 0 rg BT 302.41 318.60 Td (revenue ) Tj ET Q q 0 0 0 rg BT 337.00 318.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 369.38 318.60 Td (\(less ) Tj ET Q q 0 0 0 rg BT 390.65 318.60 Td (severance ) Tj ET Q q 0 0 0 rg BT 433.01 318.60 Td (taxes\) ) Tj ET Q q 0 0 0 rg BT 459.83 318.60 Td (once ) Tj ET Q q 0 0 0 rg BT 481.65 318.60 Td (average ) Tj ET Q q 0 0 0 rg BT 515.68 318.60 Td (monthly ) Tj ET Q q 0 0 0 rg BT 551.96 318.60 Td (oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (production ) Tj ET Q q 0 0 0 rg BT 95.17 306.60 Td (exceeds ) Tj ET Q q 0 0 0 rg BT 129.16 306.60 Td (3,000 ) Tj ET Q q 0 0 0 rg BT 154.00 306.60 Td (Bbls/d. ) Tj ET Q q 0 0 0 rg BT 184.96 306.60 Td ( ) Tj ET Q q 0 0 0 rg BT 187.13 306.60 Td (The ) Tj ET Q q 0 0 0 rg BT 205.02 306.60 Td (timing ) Tj ET Q q 0 0 0 rg BT 233.48 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 244.15 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 258.71 306.60 Td (development ) Tj ET Q q 0 0 0 rg BT 312.70 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 323.38 306.60 Td (a ) Tj ET Q q 0 0 0 rg BT 330.16 306.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 344.05 305.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.30 306.60 Td ( ) Tj ET Q q 0 0 0 rg BT 349.64 306.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 373.09 306.60 Td (at ) Tj ET Q q 0 0 0 rg BT 382.48 306.60 Td (Thompson ) Tj ET Q q 0 0 0 rg BT 427.60 306.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 450.50 306.60 Td (is ) Tj ET Q q 0 0 0 rg BT 459.52 306.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 499.07 306.60 Td (dependent ) Tj ET Q q 0 0 0 rg BT 542.51 306.60 Td (upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 78.65 294.60 Td (availability ) Tj ET Q q 0 0 0 rg BT 126.14 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 143.07 294.60 Td (priorities ) Tj ET Q q 0 0 0 rg BT 181.68 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 198.62 294.60 Td (future ) Tj ET Q q 0 0 0 rg BT 224.99 294.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 238.05 294.60 Td (prices.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 77.55 270.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 121.18 270.60 Td (Region) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 246.60 Td (CO) Tj ET Q BT /F4 10.00 Tf ET BT /F4 6.50 Tf ET q 0 0 0 rg BT 63.39 245.17 Td (2) Tj ET Q BT /F4 7.00 Tf ET q 0 0 0 rg BT 66.64 246.60 Td (�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 68.39 246.60 Td (Sour) Tj ET Q q 0 0 0 rg BT 86.91 246.60 Td (ces ) Tj ET Q q 0 0 0 rg BT 102.18 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 119.68 246.60 Td (Pipelines) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 222.60 Td (LaBarge ) Tj ET Q q 0 0 0 rg BT 108.14 222.60 Td (Field.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.30 222.60 Td (W) Tj ET Q q 0 0 0 rg BT 145.94 222.60 Td (e ) Tj ET Q q 0 0 0 rg BT 153.80 222.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 191.65 222.60 Td (an ) Tj ET Q q 0 0 0 rg BT 204.51 222.60 Td (overriding ) Tj ET Q q 0 0 0 rg BT 249.58 222.60 Td (royalty ) Tj ET Q q 0 0 0 rg BT 281.33 222.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 314.19 222.60 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 359.26 222.60 Td (to ) Tj ET Q q 0 0 0 rg BT 370.46 222.60 Td (an ) Tj ET Q q 0 0 0 rg BT 383.32 222.60 Td (approximate ) Tj ET Q q 0 0 0 rg BT 436.72 222.60 Td (one-third ) Tj ET Q q 0 0 0 rg BT 476.80 222.60 Td (ownership ) Tj ET Q q 0 0 0 rg BT 521.88 222.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 554.74 222.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (ExxonMobil�) Tj ET Q q 0 0 0 rg BT 102.83 210.60 Td (s ) Tj ET Q q 0 0 0 rg BT 110.54 210.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 124.43 209.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.68 210.60 Td ( ) Tj ET Q q 0 0 0 rg BT 131.49 210.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 168.05 210.60 Td (in ) Tj ET Q q 0 0 0 rg BT 179.64 210.60 Td (LaBar) Tj ET Q q 0 0 0 rg BT 204.45 210.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 217.69 210.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 242.06 210.60 Td (in ) Tj ET Q q 0 0 0 rg BT 253.65 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 269.67 210.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 297.92 210.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 330.04 210.60 Td (of ) Tj ET Q q 0 0 0 rg BT 342.18 210.60 Td (2012 ) Tj ET Q q 0 0 0 rg BT 365.99 210.60 Td (as ) Tj ET Q q 0 0 0 rg BT 378.13 210.60 Td (part ) Tj ET Q q 0 0 0 rg BT 397.49 210.60 Td (of ) Tj ET Q q 0 0 0 rg BT 409.63 210.60 Td (a ) Tj ET Q q 0 0 0 rg BT 417.87 210.60 Td (sale ) Tj ET Q q 0 0 0 rg BT 437.23 210.60 Td (and ) Tj ET Q q 0 0 0 rg BT 455.48 210.60 Td (exchange ) Tj ET Q q 0 0 0 rg BT 497.04 210.60 Td (transaction ) Tj ET Q q 0 0 0 rg BT 544.72 210.60 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (ExxonMobil. ) Tj ET Q q 0 0 0 rg BT 105.47 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 108.38 198.60 Td (LaBar) Tj ET Q q 0 0 0 rg BT 133.18 198.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 145.53 198.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 168.99 198.60 Td (is ) Tj ET Q q 0 0 0 rg BT 178.57 198.60 Td (located ) Tj ET Q q 0 0 0 rg BT 210.35 198.60 Td (in ) Tj ET Q q 0 0 0 rg BT 221.04 198.60 Td (southwestern ) Tj ET Q q 0 0 0 rg BT 276.51 198.60 Td (W) Tj ET Q q 0 0 0 rg BT 285.35 198.60 Td (yoming, ) Tj ET Q q 0 0 0 rg BT 321.31 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 338.66 198.60 Td (as ) Tj ET Q q 0 0 0 rg BT 349.90 198.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.14 198.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 420.13 198.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.13 198.60 Td (, ) Tj ET Q q 0 0 0 rg BT 445.54 198.60 Td (our ) Tj ET Q q 0 0 0 rg BT 461.78 198.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 494.12 198.60 Td (in ) Tj ET Q q 0 0 0 rg BT 504.81 198.60 Td (LaBar) Tj ET Q q 0 0 0 rg BT 529.61 198.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 541.96 198.60 Td (Field ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.60 Td (consisted ) Tj ET Q q 0 0 0 rg BT 89.22 186.60 Td (of ) Tj ET Q q 0 0 0 rg BT 100.05 186.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.31 186.60 Td (1.2 ) Tj ET Q q 0 0 0 rg BT 175.13 186.60 Td (T) Tj ET Q q 0 0 0 rg BT 180.54 186.60 Td (cf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.30 186.60 Td ( ) Tj ET Q q 0 0 0 rg BT 190.80 186.60 Td (of ) Tj ET Q q 0 0 0 rg BT 201.63 186.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 231.90 186.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 245.79 185.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.04 186.60 Td ( ) Tj ET Q q 0 0 0 rg BT 251.54 186.60 Td (reserves.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 162.60 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.07 162.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.07 162.60 Td (, ) Tj ET Q q 0 0 0 rg BT 124.82 162.60 Td (we ) Tj ET Q q 0 0 0 rg BT 139.72 162.60 Td (received ) Tj ET Q q 0 0 0 rg BT 176.83 162.60 Td (an ) Tj ET Q q 0 0 0 rg BT 189.51 162.60 Td (average ) Tj ET Q q 0 0 0 rg BT 223.84 162.60 Td (of ) Tj ET Q q 0 0 0 rg BT 235.41 162.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 296.41 162.60 Td (88 ) Tj ET Q q 0 0 0 rg BT 309.66 162.60 Td (MMcf/d ) Tj ET Q q 0 0 0 rg BT 346.23 162.60 Td (of ) Tj ET Q q 0 0 0 rg BT 357.80 162.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 371.70 161.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.95 162.60 Td ( ) Tj ET Q q 0 0 0 rg BT 378.19 162.60 Td (from ) Tj ET Q q 0 0 0 rg BT 400.87 162.60 Td (the ) Tj ET Q q 0 0 0 rg BT 416.33 162.60 Td (Shute ) Tj ET Q q 0 0 0 rg BT 442.35 162.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 469.47 162.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 486.05 162.60 Td (processing ) Tj ET Q q 0 0 0 rg BT 532.06 162.60 Td (plant ) Tj ET Q q 0 0 0 rg BT 555.30 162.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td (LaBar) Tj ET Q q 0 0 0 rg BT 74.30 150.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 86.37 150.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 109.55 150.60 Td (that ) Tj ET Q q 0 0 0 rg BT 127.18 150.60 Td (we ) Tj ET Q q 0 0 0 rg BT 141.46 150.60 Td (used ) Tj ET Q q 0 0 0 rg BT 162.42 150.60 Td (in ) Tj ET Q q 0 0 0 rg BT 172.83 150.60 Td (our ) Tj ET Q q 0 0 0 rg BT 188.78 150.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 217.52 150.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 259.03 150.60 Td (region ) Tj ET Q q 0 0 0 rg BT 287.21 150.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 301.10 149.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.35 150.60 Td ( ) Tj ET Q q 0 0 0 rg BT 306.97 150.60 Td (floods. ) Tj ET Q q 0 0 0 rg BT 337.10 150.60 Td ( ) Tj ET Q q 0 0 0 rg BT 339.73 150.60 Td (Based ) Tj ET Q q 0 0 0 rg BT 366.79 150.60 Td (on ) Tj ET Q q 0 0 0 rg BT 379.42 150.60 Td (current ) Tj ET Q q 0 0 0 rg BT 410.36 150.60 Td (capacity) Tj ET Q q 0 0 0 rg BT 443.02 150.60 Td (, ) Tj ET Q q 0 0 0 rg BT 448.15 150.60 Td (and ) Tj ET Q q 0 0 0 rg BT 465.22 150.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 496.17 150.60 Td (to ) Tj ET Q q 0 0 0 rg BT 506.57 150.60 Td (availability ) Tj ET Q q 0 0 0 rg BT 554.19 150.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 137.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.64 138.60 Td (, ) Tj ET Q q 0 0 0 rg BT 71.91 138.60 Td (we ) Tj ET Q q 0 0 0 rg BT 86.35 138.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 125.21 138.60 Td (expect ) Tj ET Q q 0 0 0 rg BT 154.08 138.60 Td (our ) Tj ET Q q 0 0 0 rg BT 170.18 138.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 184.07 137.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.32 138.60 Td ( ) Tj ET Q q 0 0 0 rg BT 190.09 138.60 Td (volumes ) Tj ET Q q 0 0 0 rg BT 226.75 138.60 Td (from ) Tj ET Q q 0 0 0 rg BT 248.96 138.60 Td (Shute ) Tj ET Q q 0 0 0 rg BT 274.52 138.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 301.17 138.60 Td (to ) Tj ET Q q 0 0 0 rg BT 311.72 138.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 347.24 138.60 Td (in ) Tj ET Q q 0 0 0 rg BT 357.79 138.60 Td (future ) Tj ET Q q 0 0 0 rg BT 384.44 138.60 Td (years. ) Tj ET Q q 0 0 0 rg BT 410.81 138.60 Td ( ) Tj ET Q q 0 0 0 rg BT 413.39 138.60 Td (W) Tj ET Q q 0 0 0 rg BT 422.02 138.60 Td (e ) Tj ET Q q 0 0 0 rg BT 429.23 138.60 Td (pay ) Tj ET Q q 0 0 0 rg BT 446.44 138.60 Td (ExxonMobil ) Tj ET Q q 0 0 0 rg BT 499.77 138.60 Td (a ) Tj ET Q q 0 0 0 rg BT 506.98 138.60 Td (fee ) Tj ET Q q 0 0 0 rg BT 521.96 138.60 Td (to ) Tj ET Q q 0 0 0 rg BT 532.52 138.60 Td (process ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 126.60 Td (deliver ) Tj ET Q q 0 0 0 rg BT 96.70 126.60 Td (the ) Tj ET Q q 0 0 0 rg BT 111.42 126.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 125.31 125.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.56 126.60 Td (, ) Tj ET Q q 0 0 0 rg BT 133.56 126.60 Td (which ) Tj ET Q q 0 0 0 rg BT 160.50 126.60 Td (we ) Tj ET Q q 0 0 0 rg BT 174.66 126.60 Td (use ) Tj ET Q q 0 0 0 rg BT 190.49 126.60 Td (in ) Tj ET Q q 0 0 0 rg BT 200.77 126.60 Td (our ) Tj ET Q q 0 0 0 rg BT 216.60 126.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 245.21 126.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 286.59 126.60 Td (region ) Tj ET Q q 0 0 0 rg BT 314.64 126.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 328.53 125.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.78 126.60 Td ( ) Tj ET Q q 0 0 0 rg BT 334.28 126.60 Td (floods.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 102.60 Td (Other) Tj ET Q q 0 0 0 rg BT 92.87 102.60 Td ( ) Tj ET Q q 0 0 0 rg BT 95.14 102.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 124.64 102.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 169.15 102.60 Td (CO) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 184.15 101.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.40 102.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 189.67 102.60 Td (Sour) Tj ET Q q 0 0 0 rg BT 210.05 102.60 Td (ces.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.32 102.60 Td (��) Tj ET Q q 0 0 0 rg BT 230.14 102.60 Td (W) Tj ET Q q 0 0 0 rg BT 238.78 102.60 Td (e ) Tj ET Q q 0 0 0 rg BT 245.49 102.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 283.86 102.60 Td (have ) Tj ET Q q 0 0 0 rg BT 305.01 102.60 Td (a ) Tj ET Q q 0 0 0 rg BT 311.73 102.60 Td (contract ) Tj ET Q q 0 0 0 rg BT 346.20 102.60 Td (to ) Tj ET Q q 0 0 0 rg BT 356.26 102.60 Td (receive ) Tj ET Q q 0 0 0 rg BT 387.40 102.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 401.29 101.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.54 102.60 Td ( ) Tj ET Q q 0 0 0 rg BT 406.81 102.60 Td (from ) Tj ET Q q 0 0 0 rg BT 428.53 102.60 Td (the ) Tj ET Q q 0 0 0 rg BT 443.02 102.60 Td (ConocoPhillips-operated ) Tj ET Q q 0 0 0 rg BT 544.72 102.60 Td (Lost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.60 Td (Cabin ) Tj ET Q q 0 0 0 rg BT 76.07 90.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 92.09 90.60 Td (plant ) Tj ET Q q 0 0 0 rg BT 114.78 90.60 Td (in ) Tj ET Q q 0 0 0 rg BT 125.24 90.60 Td (central ) Tj ET Q q 0 0 0 rg BT 154.94 90.60 Td (W) Tj ET Q q 0 0 0 rg BT 163.78 90.60 Td (yoming ) Tj ET Q q 0 0 0 rg BT 197.02 90.60 Td (that ) Tj ET Q q 0 0 0 rg BT 214.70 90.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 251.83 90.60 Td (us ) Tj ET Q q 0 0 0 rg BT 263.41 90.60 Td (as ) Tj ET Q q 0 0 0 rg BT 274.43 90.60 Td (much ) Tj ET Q q 0 0 0 rg BT 299.33 90.60 Td (as ) Tj ET Q q 0 0 0 rg BT 310.35 90.60 Td (50 ) Tj ET Q q 0 0 0 rg BT 323.04 90.60 Td (MMcf/d ) Tj ET Q q 0 0 0 rg BT 359.06 90.60 Td (of ) Tj ET Q q 0 0 0 rg BT 370.07 90.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 383.97 89.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.22 90.60 Td ( ) Tj ET Q q 0 0 0 rg BT 389.90 90.60 Td (for ) Tj ET Q q 0 0 0 rg BT 404.25 90.60 Td (use ) Tj ET Q q 0 0 0 rg BT 420.27 90.60 Td (in ) Tj ET Q q 0 0 0 rg BT 430.74 90.60 Td (our ) Tj ET Q q 0 0 0 rg BT 446.75 90.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 475.55 90.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 517.13 90.60 Td (region ) Tj ET Q q 0 0 0 rg BT 545.36 90.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 559.25 89.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.60 Td (floods. ) Tj ET Q q 0 0 0 rg BT 79.63 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 82.07 78.60 Td (W) Tj ET Q q 0 0 0 rg BT 90.70 78.60 Td (e ) Tj ET Q q 0 0 0 rg BT 97.77 78.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 136.49 78.60 Td (estimate ) Tj ET Q q 0 0 0 rg BT 172.44 78.60 Td (that ) Tj ET Q q 0 0 0 rg BT 190.07 78.60 Td (our ) Tj ET Q q 0 0 0 rg BT 206.02 78.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 240.32 78.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 254.21 77.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.46 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 260.09 78.60 Td (sources, ) Tj ET Q q 0 0 0 rg BT 295.21 78.60 Td (plus ) Tj ET Q q 0 0 0 rg BT 314.50 78.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 357.12 78.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 371.01 77.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.26 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 376.89 78.60 Td (from ) Tj ET Q q 0 0 0 rg BT 398.96 78.60 Td (those ) Tj ET Q q 0 0 0 rg BT 422.70 78.60 Td (or ) Tj ET Q q 0 0 0 rg BT 433.65 78.60 Td (other ) Tj ET Q q 0 0 0 rg BT 456.83 78.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 470.72 77.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.97 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 476.60 78.60 Td (sources ) Tj ET Q q 0 0 0 rg BT 509.22 78.60 Td (in ) Tj ET Q q 0 0 0 rg BT 519.63 78.60 Td (the ) Tj ET Q q 0 0 0 rg BT 534.47 78.60 Td (region, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.60 Td (are ) Tj ET Q q 0 0 0 rg BT 64.21 66.60 Td (suf) Tj ET Q q 0 0 0 rg BT 76.25 66.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 104.29 66.60 Td (to ) Tj ET Q q 0 0 0 rg BT 114.57 66.60 Td (carry ) Tj ET Q q 0 0 0 rg BT 137.61 66.60 Td (out ) Tj ET Q q 0 0 0 rg BT 152.88 66.60 Td (our ) Tj ET Q q 0 0 0 rg BT 168.71 66.60 Td (base ) Tj ET Q q 0 0 0 rg BT 188.98 66.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 217.59 66.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 258.98 66.60 Td (region ) Tj ET Q q 0 0 0 rg BT 287.02 66.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 309.52 66.60 Td (development ) Tj ET Q q 0 0 0 rg BT 363.67 66.60 Td (plans.) Tj ET Q endstream endobj 35 0 obj <> endobj 36 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (17) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 714.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 97.48 714.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 142.47 714.60 Td (CO) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 157.47 713.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 160.72 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 163.47 714.60 Td (Pipelines.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.31 714.60 Td (The ) Tj ET Q q 0 0 0 rg BT 227.61 714.60 Td (20-inch ) Tj ET Q q 0 0 0 rg BT 260.91 714.60 Td (Greencore ) Tj ET Q q 0 0 0 rg BT 305.31 714.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 340.83 714.60 Td (in ) Tj ET Q q 0 0 0 rg BT 351.17 714.60 Td (W) Tj ET Q q 0 0 0 rg BT 360.01 714.60 Td (yoming ) Tj ET Q q 0 0 0 rg BT 393.32 714.60 Td (is ) Tj ET Q q 0 0 0 rg BT 402.75 714.60 Td (the ) Tj ET Q q 0 0 0 rg BT 417.72 714.60 Td (first ) Tj ET Q q 0 0 0 rg BT 436.59 714.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 450.48 713.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.73 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 456.48 714.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 491.45 714.60 Td (we ) Tj ET Q q 0 0 0 rg BT 505.87 714.60 Td (constructed ) Tj ET Q q 0 0 0 rg BT 554.72 714.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.39 702.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 93.17 702.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 134.73 702.60 Td (region.��) Tj ET Q q 0 0 0 rg BT 167.60 702.60 Td (W) Tj ET Q q 0 0 0 rg BT 176.23 702.60 Td (e ) Tj ET Q q 0 0 0 rg BT 183.34 702.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 203.23 702.60 Td (to ) Tj ET Q q 0 0 0 rg BT 213.68 702.60 Td (use ) Tj ET Q q 0 0 0 rg BT 229.69 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 244.58 702.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 279.46 702.60 Td (as ) Tj ET Q q 0 0 0 rg BT 290.46 702.60 Td (our ) Tj ET Q q 0 0 0 rg BT 306.46 702.60 Td (trunk ) Tj ET Q q 0 0 0 rg BT 330.25 702.60 Td (line ) Tj ET Q q 0 0 0 rg BT 347.91 702.60 Td (in ) Tj ET Q q 0 0 0 rg BT 358.36 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 373.25 702.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 402.03 702.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 443.59 702.60 Td (region, ) Tj ET Q q 0 0 0 rg BT 474.31 702.60 Td (eventually ) Tj ET Q q 0 0 0 rg BT 518.63 702.60 Td (connecting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.60 Td (our ) Tj ET Q q 0 0 0 rg BT 64.87 690.60 Td (various ) Tj ET Q q 0 0 0 rg BT 96.35 690.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 124.49 690.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 165.42 690.60 Td (region ) Tj ET Q q 0 0 0 rg BT 193.00 690.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 206.90 689.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.14 690.60 Td ( ) Tj ET Q q 0 0 0 rg BT 212.18 690.60 Td (sources ) Tj ET Q q 0 0 0 rg BT 244.21 690.60 Td (to ) Tj ET Q q 0 0 0 rg BT 254.03 690.60 Td (the ) Tj ET Q q 0 0 0 rg BT 268.28 690.60 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 294.20 690.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 319.67 690.60 Td (Anticline ) Tj ET Q q 0 0 0 rg BT 358.92 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 368.73 690.60 Td (eastern ) Tj ET Q q 0 0 0 rg BT 399.09 690.60 Td (Montana ) Tj ET Q q 0 0 0 rg BT 436.67 690.60 Td (and ) Tj ET Q q 0 0 0 rg BT 453.15 690.60 Td (western ) Tj ET Q q 0 0 0 rg BT 486.29 690.60 Td (North ) Tj ET Q q 0 0 0 rg BT 511.66 690.60 Td (Dakota. ) Tj ET Q q 0 0 0 rg BT 545.07 690.60 Td ( ) Tj ET Q q 0 0 0 rg BT 546.96 690.60 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (232-mile ) Tj ET Q q 0 0 0 rg BT 88.13 678.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 122.88 678.60 Td (begins ) Tj ET Q q 0 0 0 rg BT 151.52 678.60 Td (at ) Tj ET Q q 0 0 0 rg BT 161.26 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 176.01 678.60 Td (ConocoPhillips-operated ) Tj ET Q q 0 0 0 rg BT 277.97 678.60 Td (Lost ) Tj ET Q q 0 0 0 rg BT 298.28 678.60 Td (Cabin ) Tj ET Q q 0 0 0 rg BT 324.70 678.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 340.56 678.60 Td (plant ) Tj ET Q q 0 0 0 rg BT 363.08 678.60 Td (in ) Tj ET Q q 0 0 0 rg BT 373.21 678.60 Td (W) Tj ET Q q 0 0 0 rg BT 382.05 678.60 Td (yoming ) Tj ET Q q 0 0 0 rg BT 415.14 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 432.10 678.60 Td (terminates ) Tj ET Q q 0 0 0 rg BT 476.29 678.60 Td (at ) Tj ET Q q 0 0 0 rg BT 486.03 678.60 Td (Bell ) Tj ET Q q 0 0 0 rg BT 505.23 678.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 531.64 678.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 554.72 678.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (Montana.��) Tj ET Q q 0 0 0 rg BT 92.37 666.60 Td (W) Tj ET Q q 0 0 0 rg BT 101.00 666.60 Td (e ) Tj ET Q q 0 0 0 rg BT 108.88 666.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 153.97 666.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 206.84 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 218.61 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 234.27 666.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 269.92 666.60 Td (in ) Tj ET Q q 0 0 0 rg BT 281.14 666.60 Td (2012 ) Tj ET Q q 0 0 0 rg BT 304.58 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 322.45 666.60 Td (received ) Tj ET Q q 0 0 0 rg BT 359.75 666.60 Td (our ) Tj ET Q q 0 0 0 rg BT 376.52 666.60 Td (first ) Tj ET Q q 0 0 0 rg BT 396.07 666.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 409.96 665.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.21 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 416.65 666.60 Td (deliveries ) Tj ET Q q 0 0 0 rg BT 458.96 666.60 Td (from ) Tj ET Q q 0 0 0 rg BT 481.84 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 497.49 666.60 Td (ConocoPhillips-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (operated ) Tj ET Q q 0 0 0 rg BT 86.48 654.60 Td (Lost ) Tj ET Q q 0 0 0 rg BT 106.82 654.60 Td (Cabin ) Tj ET Q q 0 0 0 rg BT 133.26 654.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 149.15 654.60 Td (plant ) Tj ET Q q 0 0 0 rg BT 171.71 654.60 Td (during ) Tj ET Q q 0 0 0 rg BT 200.37 654.60 Td (2013.��During ) Tj ET Q q 0 0 0 rg BT 258.76 654.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 283.82 654.60 Td (we ) Tj ET Q q 0 0 0 rg BT 298.04 654.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 342.25 654.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 394.24 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 405.13 654.60 Td (an ) Tj ET Q q 0 0 0 rg BT 417.13 654.60 Td (interconnect ) Tj ET Q q 0 0 0 rg BT 469.10 654.60 Td (between ) Tj ET Q q 0 0 0 rg BT 504.98 654.60 Td (our ) Tj ET Q q 0 0 0 rg BT 520.87 654.60 Td (Greencore ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 84.64 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 101.44 642.60 Td (an ) Tj ET Q q 0 0 0 rg BT 113.24 642.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 147.27 642.60 Td (third-party ) Tj ET Q q 0 0 0 rg BT 192.40 642.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 206.29 641.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.54 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 211.91 642.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 246.49 642.60 Td (in ) Tj ET Q q 0 0 0 rg BT 256.46 642.60 Td (W) Tj ET Q q 0 0 0 rg BT 265.30 642.60 Td (yoming, ) Tj ET Q q 0 0 0 rg BT 300.72 642.60 Td (which ) Tj ET Q q 0 0 0 rg BT 327.52 642.60 Td (enables ) Tj ET Q q 0 0 0 rg BT 359.87 642.60 Td (us ) Tj ET Q q 0 0 0 rg BT 371.13 642.60 Td (to ) Tj ET Q q 0 0 0 rg BT 381.27 642.60 Td (transport ) Tj ET Q q 0 0 0 rg BT 419.18 642.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 433.07 641.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.32 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 438.69 642.60 Td (from ) Tj ET Q q 0 0 0 rg BT 460.49 642.60 Td (LaBar) Tj ET Q q 0 0 0 rg BT 485.29 642.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 497.10 642.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 520.02 642.60 Td (to ) Tj ET Q q 0 0 0 rg BT 530.16 642.60 Td (our ) Tj ET Q q 0 0 0 rg BT 545.86 642.60 Td (Bell ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 75.88 630.60 Td (Field.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 606.60 Td (In ) Tj ET Q q 0 0 0 rg BT 78.40 606.60 Td (mid-2018, ) Tj ET Q q 0 0 0 rg BT 122.35 606.60 Td (we ) Tj ET Q q 0 0 0 rg BT 136.57 606.60 Td (sanctioned ) Tj ET Q q 0 0 0 rg BT 181.90 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 196.68 606.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 210.57 605.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.82 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 216.39 606.60 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 256.71 606.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 269.83 606.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 307.37 606.60 Td (development ) Tj ET Q q 0 0 0 rg BT 361.58 606.60 Td (project ) Tj ET Q q 0 0 0 rg BT 391.91 606.60 Td (at ) Tj ET Q q 0 0 0 rg BT 401.69 606.60 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 428.14 606.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 454.01 606.60 Td (Anticline, ) Tj ET Q q 0 0 0 rg BT 496.29 606.60 Td (which ) Tj ET Q q 0 0 0 rg BT 523.29 606.60 Td (requires ) Tj ET Q q 0 0 0 rg BT 558.06 606.60 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (1) Tj ET Q q 0 0 0 rg BT 54.13 594.60 Td (10-mile ) Tj ET Q q 0 0 0 rg BT 87.59 594.60 Td (extension ) Tj ET Q q 0 0 0 rg BT 128.28 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 138.97 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 153.55 594.60 Td (Greencore ) Tj ET Q q 0 0 0 rg BT 197.55 594.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 211.44 593.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.69 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 217.06 594.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 251.63 594.60 Td (to ) Tj ET Q q 0 0 0 rg BT 261.77 594.60 Td (CCA) Tj ET Q q 0 0 0 rg BT 281.78 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 284.14 594.60 Td (from ) Tj ET Q q 0 0 0 rg BT 305.94 594.60 Td (Bell ) Tj ET Q q 0 0 0 rg BT 324.97 594.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 351.21 594.60 Td (Field. ) Tj ET Q q 0 0 0 rg BT 376.63 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 378.82 594.60 Td (The ) Tj ET Q q 0 0 0 rg BT 396.73 594.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 425.74 594.60 Td (outlay ) Tj ET Q q 0 0 0 rg BT 453.10 594.60 Td (for ) Tj ET Q q 0 0 0 rg BT 467.12 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 481.70 594.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 516.27 594.60 Td (is ) Tj ET Q q 0 0 0 rg BT 525.31 594.60 Td (projected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (to ) Tj ET Q q 0 0 0 rg BT 58.77 582.60 Td (be ) Tj ET Q q 0 0 0 rg BT 69.71 582.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 128.96 582.60 Td ($150 ) Tj ET Q q 0 0 0 rg BT 150.45 582.60 Td (million, ) Tj ET Q q 0 0 0 rg BT 183.34 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 193.16 582.60 Td (which ) Tj ET Q q 0 0 0 rg BT 219.09 582.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 278.35 582.60 Td ($20 ) Tj ET Q q 0 0 0 rg BT 294.84 582.60 Td (million ) Tj ET Q q 0 0 0 rg BT 325.23 582.60 Td (was ) Tj ET Q q 0 0 0 rg BT 342.27 582.60 Td (incurred ) Tj ET Q q 0 0 0 rg BT 377.08 582.60 Td (in ) Tj ET Q q 0 0 0 rg BT 386.36 582.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 407.85 582.60 Td (with ) Tj ET Q q 0 0 0 rg BT 427.12 582.60 Td (an ) Tj ET Q q 0 0 0 rg BT 438.05 582.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 479.54 582.60 Td ($30 ) Tj ET Q q 0 0 0 rg BT 496.03 582.60 Td (million ) Tj ET Q q 0 0 0 rg BT 526.42 582.60 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 87.53 570.60 Td (to ) Tj ET Q q 0 0 0 rg BT 97.81 570.60 Td (be ) Tj ET Q q 0 0 0 rg BT 109.75 570.60 Td (incurred ) Tj ET Q q 0 0 0 rg BT 145.56 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 155.84 570.60 Td (2019, ) Tj ET Q q 0 0 0 rg BT 180.84 570.60 Td (with ) Tj ET Q q 0 0 0 rg BT 201.12 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 215.84 570.60 Td (remainder ) Tj ET Q q 0 0 0 rg BT 258.87 570.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 296.90 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 307.18 570.60 Td (2020 ) Tj ET Q q 0 0 0 rg BT 329.68 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 346.62 570.60 Td (early ) Tj ET Q q 0 0 0 rg BT 369.10 570.60 Td (2021.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (T) Tj ET Q q 0 0 0 rg BT 54.14 546.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 83.86 546.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 93.49 546.60 Td (operties ) Tj ET Q q 0 0 0 rg BT 128.21 546.60 Td (with ) Tj ET Q q 0 0 0 rg BT 147.93 546.60 Td (T) Tj ET Q q 0 0 0 rg BT 152.58 546.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 182.29 546.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 191.92 546.60 Td (oduction ) Tj ET Q q 0 0 0 rg BT 229.42 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 246.92 546.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 256.55 546.60 Td (oved ) Tj ET Q q 0 0 0 rg BT 277.92 546.60 Td (T) Tj ET Q q 0 0 0 rg BT 282.57 546.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 312.28 546.60 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 350.32 546.60 Td (at ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 360.60 546.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 419.19 546.60 Td (2018) Tj ET Q BT /F4 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 522.60 Td (Bell ) Tj ET Q q 0 0 0 rg BT 85.77 522.60 Td (Cr) Tj ET Q q 0 0 0 rg BT 97.25 522.60 Td (eek ) Tj ET Q q 0 0 0 rg BT 113.29 522.60 Td (Field.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.45 522.60 Td (W) Tj ET Q q 0 0 0 rg BT 151.09 522.60 Td (e ) Tj ET Q q 0 0 0 rg BT 157.13 522.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 193.16 522.60 Td (our ) Tj ET Q q 0 0 0 rg BT 208.09 522.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 239.13 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 248.51 522.60 Td (Bell ) Tj ET Q q 0 0 0 rg BT 266.78 522.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 292.26 522.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 314.42 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 323.80 522.60 Td (southeast ) Tj ET Q q 0 0 0 rg BT 362.62 522.60 Td (Montana ) Tj ET Q q 0 0 0 rg BT 399.77 522.60 Td (as ) Tj ET Q q 0 0 0 rg BT 409.70 522.60 Td (part ) Tj ET Q q 0 0 0 rg BT 426.85 522.60 Td (of ) Tj ET Q q 0 0 0 rg BT 436.79 522.60 Td (the ) Tj ET Q q 0 0 0 rg BT 450.61 522.60 Td (Encore ) Tj ET Q q 0 0 0 rg BT 480.52 522.60 Td (mer) Tj ET Q q 0 0 0 rg BT 495.89 522.60 Td (ger ) Tj ET Q q 0 0 0 rg BT 510.26 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 519.64 522.60 Td (2010.��) Tj ET Q q 0 0 0 rg BT 546.96 522.60 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (oil-producing ) Tj ET Q q 0 0 0 rg BT 107.29 510.60 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 146.18 510.60 Td (in ) Tj ET Q q 0 0 0 rg BT 157.31 510.60 Td (Bell ) Tj ET Q q 0 0 0 rg BT 177.33 510.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 204.56 510.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 228.47 510.60 Td (is ) Tj ET Q q 0 0 0 rg BT 238.50 510.60 Td (a ) Tj ET Q q 0 0 0 rg BT 246.29 510.60 Td (sandstone ) Tj ET Q q 0 0 0 rg BT 289.08 510.60 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 327.98 510.60 Td (with ) Tj ET Q q 0 0 0 rg BT 349.11 510.60 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 409.65 510.60 Td (similar ) Tj ET Q q 0 0 0 rg BT 440.78 510.60 Td (to ) Tj ET Q q 0 0 0 rg BT 451.91 510.60 Td (those ) Tj ET Q q 0 0 0 rg BT 476.38 510.60 Td (we ) Tj ET Q q 0 0 0 rg BT 491.39 510.60 Td (have ) Tj ET Q q 0 0 0 rg BT 513.62 510.60 Td (successfully ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (flooded ) Tj ET Q q 0 0 0 rg BT 82.61 498.60 Td (with ) Tj ET Q q 0 0 0 rg BT 102.95 498.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 116.84 497.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.09 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 122.65 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 132.98 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 147.76 498.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 168.65 498.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 193.99 498.60 Td (region. ) Tj ET Q q 0 0 0 rg BT 224.60 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 227.16 498.60 Td (During ) Tj ET Q q 0 0 0 rg BT 258.05 498.60 Td (2013, ) Tj ET Q q 0 0 0 rg BT 283.11 498.60 Td (we ) Tj ET Q q 0 0 0 rg BT 297.33 498.60 Td (began ) Tj ET Q q 0 0 0 rg BT 323.76 498.60 Td (first ) Tj ET Q q 0 0 0 rg BT 342.43 498.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 356.32 497.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.57 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 362.13 498.60 Td (injections ) Tj ET Q q 0 0 0 rg BT 403.58 498.60 Td (into ) Tj ET Q q 0 0 0 rg BT 421.69 498.60 Td (Bell ) Tj ET Q q 0 0 0 rg BT 440.92 498.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 467.35 498.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 492.97 498.60 Td (recorded ) Tj ET Q q 0 0 0 rg BT 530.51 498.60 Td (our ) Tj ET Q q 0 0 0 rg BT 546.40 498.60 Td (first ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 80.22 486.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 92.63 486.60 Td (production, ) Tj ET Q q 0 0 0 rg BT 140.30 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 156.58 486.60 Td (booked ) Tj ET Q q 0 0 0 rg BT 187.87 486.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 213.05 486.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 242.67 486.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 273.39 486.60 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 310.49 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 312.21 486.60 Td (T) Tj ET Q q 0 0 0 rg BT 317.62 486.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 345.56 486.60 Td (production, ) Tj ET Q q 0 0 0 rg BT 393.23 486.60 Td (net ) Tj ET Q q 0 0 0 rg BT 407.30 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 416.92 486.60 Td (our ) Tj ET Q q 0 0 0 rg BT 432.10 486.60 Td (interest, ) Tj ET Q q 0 0 0 rg BT 465.88 486.60 Td (during ) Tj ET Q q 0 0 0 rg BT 493.84 486.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.91 486.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 534.19 486.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.72 474.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.72 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 83.61 474.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.59 474.60 Td (4,421) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.09 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 147.98 474.60 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 176.99 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 188.21 474.60 Td (oil, ) Tj ET Q q 0 0 0 rg BT 204.16 474.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 246.48 474.60 Td (to ) Tj ET Q q 0 0 0 rg BT 257.15 474.60 Td (3,571 ) Tj ET Q q 0 0 0 rg BT 282.54 474.60 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 311.55 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 322.22 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 337.33 474.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 364.66 474.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 395.87 474.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.09 474.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.09 474.60 Td (.��During ) Tj ET Q q 0 0 0 rg BT 465.81 474.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 491.21 474.60 Td (we ) Tj ET Q q 0 0 0 rg BT 505.76 474.60 Td (completed ) Tj ET Q q 0 0 0 rg BT 550.30 474.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (phase ) Tj ET Q q 0 0 0 rg BT 74.77 462.60 Td (five ) Tj ET Q q 0 0 0 rg BT 92.82 462.60 Td (expansion ) Tj ET Q q 0 0 0 rg BT 135.86 462.60 Td (at ) Tj ET Q q 0 0 0 rg BT 145.58 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 160.30 462.60 Td (field, ) Tj ET Q q 0 0 0 rg BT 183.62 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 200.56 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 216.39 462.60 Td (2019 ) Tj ET Q q 0 0 0 rg BT 238.89 462.60 Td (development ) Tj ET Q q 0 0 0 rg BT 293.04 462.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 316.65 462.60 Td (are ) Tj ET Q q 0 0 0 rg BT 331.36 462.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 371.07 462.60 Td (related ) Tj ET Q q 0 0 0 rg BT 400.77 462.60 Td (to ) Tj ET Q q 0 0 0 rg BT 411.05 462.60 Td (phase ) Tj ET Q q 0 0 0 rg BT 436.32 462.60 Td (six ) Tj ET Q q 0 0 0 rg BT 450.49 462.60 Td (expansion ) Tj ET Q q 0 0 0 rg BT 493.53 462.60 Td (of ) Tj ET Q q 0 0 0 rg BT 504.36 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 519.08 462.60 Td (flood.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 438.60 Td (Salt ) Tj ET Q q 0 0 0 rg BT 86.95 438.60 Td (Cr) Tj ET Q q 0 0 0 rg BT 98.43 438.60 Td (eek ) Tj ET Q q 0 0 0 rg BT 115.64 438.60 Td (Field.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.80 438.60 Td (W) Tj ET Q q 0 0 0 rg BT 153.44 438.60 Td (e ) Tj ET Q q 0 0 0 rg BT 160.66 438.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 197.86 438.60 Td (our ) Tj ET Q q 0 0 0 rg BT 213.96 438.60 Td (23% ) Tj ET Q q 0 0 0 rg BT 235.07 438.60 Td (non-operated ) Tj ET Q q 0 0 0 rg BT 290.60 438.60 Td (working ) Tj ET Q q 0 0 0 rg BT 326.70 438.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 358.91 438.60 Td (in ) Tj ET Q q 0 0 0 rg BT 369.47 438.60 Td (Salt ) Tj ET Q q 0 0 0 rg BT 387.80 438.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 414.45 438.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 437.79 438.60 Td (in ) Tj ET Q q 0 0 0 rg BT 448.14 438.60 Td (W) Tj ET Q q 0 0 0 rg BT 456.98 438.60 Td (yoming ) Tj ET Q q 0 0 0 rg BT 490.31 438.60 Td (for ) Tj ET Q q 0 0 0 rg BT 504.75 438.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td ($72 ) Tj ET Q q 0 0 0 rg BT 66.89 426.60 Td (million ) Tj ET Q q 0 0 0 rg BT 98.17 426.60 Td (in ) Tj ET Q q 0 0 0 rg BT 108.34 426.60 Td (June ) Tj ET Q q 0 0 0 rg BT 129.06 426.60 Td (2017. ) Tj ET Q q 0 0 0 rg BT 153.95 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 156.17 426.60 Td (T) Tj ET Q q 0 0 0 rg BT 161.58 426.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 190.06 426.60 Td (production, ) Tj ET Q q 0 0 0 rg BT 238.28 426.60 Td (net ) Tj ET Q q 0 0 0 rg BT 252.88 426.60 Td (to ) Tj ET Q q 0 0 0 rg BT 263.05 426.60 Td (our ) Tj ET Q q 0 0 0 rg BT 278.77 426.60 Td (interest, ) Tj ET Q q 0 0 0 rg BT 313.10 426.60 Td (during ) Tj ET Q q 0 0 0 rg BT 341.60 426.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 356.20 426.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 383.03 426.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.35 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 413.74 426.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.46 426.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.46 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 446.85 426.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.32 426.60 Td (2,107) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.82 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 510.21 426.60 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 538.72 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 549.44 426.60 Td (oil, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 91.42 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 101.70 414.60 Td (2,172 ) Tj ET Q q 0 0 0 rg BT 126.70 414.60 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 155.32 414.60 Td (in ) Tj ET Q q 0 0 0 rg BT 165.60 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 180.32 414.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 207.25 414.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 238.07 414.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.90 414.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.90 414.60 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (Futur) Tj ET Q q 0 0 0 rg BT 71.91 390.60 Td (e ) Tj ET Q q 0 0 0 rg BT 78.85 390.60 Td (T) Tj ET Q q 0 0 0 rg BT 83.49 390.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 113.21 390.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 122.83 390.60 Td (operties ) Tj ET Q q 0 0 0 rg BT 157.55 390.60 Td (with ) Tj ET Q q 0 0 0 rg BT 177.28 390.60 Td (No ) Tj ET Q q 0 0 0 rg BT 191.45 390.60 Td (T) Tj ET Q q 0 0 0 rg BT 196.09 390.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 225.81 390.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 235.44 390.60 Td (oduction ) Tj ET Q q 0 0 0 rg BT 272.93 390.60 Td (or ) Tj ET Q q 0 0 0 rg BT 284.32 390.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 293.95 390.60 Td (oved ) Tj ET Q q 0 0 0 rg BT 315.33 390.60 Td (T) Tj ET Q q 0 0 0 rg BT 319.97 390.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 349.69 390.60 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 387.73 390.60 Td (at ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 398.01 390.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 456.59 390.60 Td (2018) Tj ET Q BT /F4 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 366.60 Td (Cedar) Tj ET Q q 0 0 0 rg BT 93.98 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 95.86 366.60 Td (Cr) Tj ET Q q 0 0 0 rg BT 107.34 366.60 Td (eek ) Tj ET Q q 0 0 0 rg BT 123.24 366.60 Td (Anticline.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.62 366.60 Td (CCA) Tj ET Q q 0 0 0 rg BT 189.63 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 191.51 366.60 Td (is ) Tj ET Q q 0 0 0 rg BT 200.06 366.60 Td (the ) Tj ET Q q 0 0 0 rg BT 214.15 366.60 Td (lar) Tj ET Q q 0 0 0 rg BT 224.52 366.60 Td (gest ) Tj ET Q q 0 0 0 rg BT 242.51 366.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 279.37 366.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 301.25 366.60 Td (property ) Tj ET Q q 0 0 0 rg BT 337.00 366.60 Td (that ) Tj ET Q q 0 0 0 rg BT 353.88 366.60 Td (we ) Tj ET Q q 0 0 0 rg BT 367.42 366.60 Td (own ) Tj ET Q q 0 0 0 rg BT 386.51 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 402.83 366.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 440.80 366.60 Td (our ) Tj ET Q q 0 0 0 rg BT 456.01 366.60 Td (lar) Tj ET Q q 0 0 0 rg BT 466.38 366.60 Td (gest ) Tj ET Q q 0 0 0 rg BT 484.36 366.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 526.79 366.60 Td (property) Tj ET Q q 0 0 0 rg BT 560.01 366.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (contributing ) Tj ET Q q 0 0 0 rg BT 101.07 354.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 161.51 354.60 Td (25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.84 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 182.52 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 193.54 354.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.55 354.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.55 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 232.24 354.60 Td (total ) Tj ET Q q 0 0 0 rg BT 252.70 354.60 Td (production. ) Tj ET Q q 0 0 0 rg BT 301.21 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 303.89 354.60 Td (Historical ) Tj ET Q q 0 0 0 rg BT 346.01 354.60 Td (production ) Tj ET Q q 0 0 0 rg BT 392.02 354.60 Td (from ) Tj ET Q q 0 0 0 rg BT 414.14 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 429.04 354.60 Td (property ) Tj ET Q q 0 0 0 rg BT 465.60 354.60 Td (has ) Tj ET Q q 0 0 0 rg BT 481.62 354.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 521.52 354.60 Td (been ) Tj ET Q q 0 0 0 rg BT 543.08 354.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.49 342.60 Td (Red ) Tj ET Q q 0 0 0 rg BT 83.38 342.60 Td (River ) Tj ET Q q 0 0 0 rg BT 108.37 342.60 Td (interval. ) Tj ET Q q 0 0 0 rg BT 144.18 342.60 Td ( ) Tj ET Q q 0 0 0 rg BT 146.76 342.60 Td (The ) Tj ET Q q 0 0 0 rg BT 165.08 342.60 Td (field ) Tj ET Q q 0 0 0 rg BT 186.18 342.60 Td (is ) Tj ET Q q 0 0 0 rg BT 195.62 342.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 235.61 342.60 Td (located ) Tj ET Q q 0 0 0 rg BT 267.26 342.60 Td (in ) Tj ET Q q 0 0 0 rg BT 277.81 342.60 Td (Montana ) Tj ET Q q 0 0 0 rg BT 316.13 342.60 Td (but ) Tj ET Q q 0 0 0 rg BT 331.69 342.60 Td (extends ) Tj ET Q q 0 0 0 rg BT 365.01 342.60 Td (over ) Tj ET Q q 0 0 0 rg BT 385.55 342.60 Td (such ) Tj ET Q q 0 0 0 rg BT 406.66 342.60 Td (a ) Tj ET Q q 0 0 0 rg BT 413.87 342.60 Td (lar) Tj ET Q q 0 0 0 rg BT 424.24 342.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 436.45 342.60 Td (area ) Tj ET Q q 0 0 0 rg BT 455.87 342.60 Td (\(approximately ) Tj ET Q q 0 0 0 rg BT 519.73 342.60 Td (126 ) Tj ET Q q 0 0 0 rg BT 537.51 342.60 Td (miles\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (that ) Tj ET Q q 0 0 0 rg BT 67.59 330.60 Td (it ) Tj ET Q q 0 0 0 rg BT 76.24 330.60 Td (also ) Tj ET Q q 0 0 0 rg BT 95.45 330.60 Td (extends ) Tj ET Q q 0 0 0 rg BT 129.09 330.60 Td (into ) Tj ET Q q 0 0 0 rg BT 147.74 330.60 Td (North ) Tj ET Q q 0 0 0 rg BT 174.17 330.60 Td (Dakota.��CCA) Tj ET Q q 0 0 0 rg BT 230.55 330.60 Td ( ) Tj ET Q q 0 0 0 rg BT 233.65 330.60 Td (is ) Tj ET Q q 0 0 0 rg BT 243.42 330.60 Td (a ) Tj ET Q q 0 0 0 rg BT 250.95 330.60 Td (series ) Tj ET Q q 0 0 0 rg BT 276.81 330.60 Td (of ) Tj ET Q q 0 0 0 rg BT 288.24 330.60 Td (14 ) Tj ET Q q 0 0 0 rg BT 301.34 330.60 Td (dif) Tj ET Q q 0 0 0 rg BT 312.26 330.60 Td (ferent ) Tj ET Q q 0 0 0 rg BT 338.67 330.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 379.53 330.60 Td (areas ) Tj ET Q q 0 0 0 rg BT 403.17 330.60 Td (on ) Tj ET Q q 0 0 0 rg BT 416.26 330.60 Td (a ) Tj ET Q q 0 0 0 rg BT 423.80 330.60 Td (common ) Tj ET Q q 0 0 0 rg BT 461.89 330.60 Td (geological ) Tj ET Q q 0 0 0 rg BT 506.63 330.60 Td (trend, ) Tj ET Q q 0 0 0 rg BT 532.78 330.60 Td (each ) Tj ET Q q 0 0 0 rg BT 554.19 330.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.60 Td (which ) Tj ET Q q 0 0 0 rg BT 77.08 318.60 Td (could ) Tj ET Q q 0 0 0 rg BT 102.43 318.60 Td (be ) Tj ET Q q 0 0 0 rg BT 115.01 318.60 Td (considered ) Tj ET Q q 0 0 0 rg BT 161.46 318.60 Td (a ) Tj ET Q q 0 0 0 rg BT 169.04 318.60 Td (field ) Tj ET Q q 0 0 0 rg BT 190.50 318.60 Td (by ) Tj ET Q q 0 0 0 rg BT 203.64 318.60 Td (itself.��) Tj ET Q q 0 0 0 rg BT 230.96 318.60 Td (W) Tj ET Q q 0 0 0 rg BT 239.60 318.60 Td (e ) Tj ET Q q 0 0 0 rg BT 247.17 318.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 284.74 318.60 Td (our ) Tj ET Q q 0 0 0 rg BT 301.20 318.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 327.67 318.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 360.25 318.60 Td (in ) Tj ET Q q 0 0 0 rg BT 371.16 318.60 Td (CCA) Tj ET Q q 0 0 0 rg BT 391.17 318.60 Td ( ) Tj ET Q q 0 0 0 rg BT 394.31 318.60 Td (as ) Tj ET Q q 0 0 0 rg BT 405.78 318.60 Td (part ) Tj ET Q q 0 0 0 rg BT 424.46 318.60 Td (of ) Tj ET Q q 0 0 0 rg BT 435.93 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 451.29 318.60 Td (Encore ) Tj ET Q q 0 0 0 rg BT 482.74 318.60 Td (mer) Tj ET Q q 0 0 0 rg BT 498.11 318.60 Td (ger ) Tj ET Q q 0 0 0 rg BT 514.02 318.60 Td (in ) Tj ET Q q 0 0 0 rg BT 524.93 318.60 Td (2010 ) Tj ET Q q 0 0 0 rg BT 548.07 318.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 85.99 306.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 128.04 306.60 Td (interests ) Tj ET Q q 0 0 0 rg BT 163.43 306.60 Td (\(the ) Tj ET Q q 0 0 0 rg BT 181.03 306.60 Td (�CCA) Tj ET Q q 0 0 0 rg BT 205.48 306.60 Td ( ) Tj ET Q q 0 0 0 rg BT 207.09 306.60 Td (Acquisition�\) ) Tj ET Q q 0 0 0 rg BT 263.58 306.60 Td (from ) Tj ET Q q 0 0 0 rg BT 285.09 306.60 Td (a ) Tj ET Q q 0 0 0 rg BT 291.59 306.60 Td (wholly-owned ) Tj ET Q q 0 0 0 rg BT 351.42 306.60 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 394.59 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 404.98 306.60 Td (ConocoPhillips ) Tj ET Q q 0 0 0 rg BT 468.72 306.60 Td (in ) Tj ET Q q 0 0 0 rg BT 478.56 306.60 Td (2013 ) Tj ET Q q 0 0 0 rg BT 500.62 306.60 Td (for ) Tj ET Q q 0 0 0 rg BT 514.34 306.60 Td ($1.0 ) Tj ET Q q 0 0 0 rg BT 533.90 306.60 Td (billion, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (adding ) Tj ET Q q 0 0 0 rg BT 79.76 294.60 Td (42.2 ) Tj ET Q q 0 0 0 rg BT 100.31 294.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 141.13 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 152.51 294.60 Td (incremental ) Tj ET Q q 0 0 0 rg BT 202.75 294.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 233.56 294.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 269.37 294.60 Td (at ) Tj ET Q q 0 0 0 rg BT 279.63 294.60 Td (that ) Tj ET Q q 0 0 0 rg BT 297.67 294.60 Td (date. ) Tj ET Q q 0 0 0 rg BT 319.87 294.60 Td ( ) Tj ET Q q 0 0 0 rg BT 322.91 294.60 Td (Production ) Tj ET Q q 0 0 0 rg BT 369.84 294.60 Td (from ) Tj ET Q q 0 0 0 rg BT 392.32 294.60 Td (CCA, ) Tj ET Q q 0 0 0 rg BT 418.43 294.60 Td (net ) Tj ET Q q 0 0 0 rg BT 433.69 294.60 Td (to ) Tj ET Q q 0 0 0 rg BT 444.51 294.60 Td (our ) Tj ET Q q 0 0 0 rg BT 460.89 294.60 Td (interest, ) Tj ET Q q 0 0 0 rg BT 495.87 294.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.00 294.60 Td (14,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.50 294.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 79.83 282.60 Td (during ) Tj ET Q q 0 0 0 rg BT 108.49 282.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.26 282.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 150.25 282.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.56 282.60 Td ( ) Tj ET Q q 0 0 0 rg BT 181.11 282.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.00 282.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.00 282.60 Td (, ) Tj ET Q q 0 0 0 rg BT 217.05 282.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 259.02 282.60 Td (to ) Tj ET Q q 0 0 0 rg BT 269.35 282.60 Td (production ) Tj ET Q q 0 0 0 rg BT 315.23 282.60 Td (during ) Tj ET Q q 0 0 0 rg BT 343.89 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 358.66 282.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 385.65 282.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 416.51 282.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.39 282.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.39 282.60 Td ( ) Tj ET Q q 0 0 0 rg BT 449.94 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 460.83 282.60 Td (14,302 ) Tj ET Q q 0 0 0 rg BT 490.88 282.60 Td (BOE/d. ) Tj ET Q q 0 0 0 rg BT 523.71 282.60 Td ( ) Tj ET Q q 0 0 0 rg BT 526.07 282.60 Td (The ) Tj ET Q q 0 0 0 rg BT 544.17 282.60 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 80.87 270.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 111.14 270.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 146.40 270.60 Td (associated ) Tj ET Q q 0 0 0 rg BT 189.99 270.60 Td (with ) Tj ET Q q 0 0 0 rg BT 210.27 270.60 Td (CCA) Tj ET Q q 0 0 0 rg BT 230.28 270.60 Td ( ) Tj ET Q q 0 0 0 rg BT 232.78 270.60 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.71 270.60 Td (85.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.21 270.60 Td ( ) Tj ET Q q 0 0 0 rg BT 274.71 270.60 Td (MMBOE, ) Tj ET Q q 0 0 0 rg BT 317.49 270.60 Td (net ) Tj ET Q q 0 0 0 rg BT 332.21 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 342.49 270.60 Td (our ) Tj ET Q q 0 0 0 rg BT 358.32 270.60 Td (interest, ) Tj ET Q q 0 0 0 rg BT 392.75 270.60 Td (as ) Tj ET Q q 0 0 0 rg BT 403.58 270.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.41 270.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 473.00 270.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.00 270.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 246.60 Td (In ) Tj ET Q q 0 0 0 rg BT 78.05 246.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 113.04 246.60 Td (to ) Tj ET Q q 0 0 0 rg BT 123.04 246.60 Td (the ) Tj ET Q q 0 0 0 rg BT 137.48 246.60 Td (Red ) Tj ET Q q 0 0 0 rg BT 155.80 246.60 Td (River ) Tj ET Q q 0 0 0 rg BT 180.24 246.60 Td (interval, ) Tj ET Q q 0 0 0 rg BT 215.50 246.60 Td (CCA) Tj ET Q q 0 0 0 rg BT 235.51 246.60 Td ( ) Tj ET Q q 0 0 0 rg BT 237.73 246.60 Td (contains ) Tj ET Q q 0 0 0 rg BT 273.27 246.60 Td (other ) Tj ET Q q 0 0 0 rg BT 296.04 246.60 Td (oil-bearing ) Tj ET Q q 0 0 0 rg BT 342.13 246.60 Td (intervals ) Tj ET Q q 0 0 0 rg BT 378.78 246.60 Td (including ) Tj ET Q q 0 0 0 rg BT 418.78 246.60 Td (Mission ) Tj ET Q q 0 0 0 rg BT 453.23 246.60 Td (Canyon ) Tj ET Q q 0 0 0 rg BT 486.56 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 503.21 246.60 Td (Charles ) Tj ET Q q 0 0 0 rg BT 535.98 246.60 Td (B. ) Tj ET Q q 0 0 0 rg BT 547.37 246.60 Td ( ) Tj ET Q q 0 0 0 rg BT 549.43 246.60 Td (W) Tj ET Q q 0 0 0 rg BT 558.06 246.60 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (began ) Tj ET Q q 0 0 0 rg BT 77.34 234.60 Td (pursuing ) Tj ET Q q 0 0 0 rg BT 116.30 234.60 Td (these ) Tj ET Q q 0 0 0 rg BT 140.80 234.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 184.75 234.60 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 236.48 234.60 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 293.21 234.60 Td (in ) Tj ET Q q 0 0 0 rg BT 304.95 234.60 Td (late ) Tj ET Q q 0 0 0 rg BT 323.34 234.60 Td (2017. ) Tj ET Q q 0 0 0 rg BT 349.80 234.60 Td ( ) Tj ET Q q 0 0 0 rg BT 353.48 234.60 Td (W) Tj ET Q q 0 0 0 rg BT 362.11 234.60 Td (e ) Tj ET Q q 0 0 0 rg BT 370.51 234.60 Td (have ) Tj ET Q q 0 0 0 rg BT 393.35 234.60 Td (drilled ) Tj ET Q q 0 0 0 rg BT 423.41 234.60 Td (seven ) Tj ET Q q 0 0 0 rg BT 450.14 234.60 Td (successful ) Tj ET Q q 0 0 0 rg BT 495.20 234.60 Td (Mission ) Tj ET Q q 0 0 0 rg BT 531.39 234.60 Td (Canyon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.60 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 99.67 222.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 123.19 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 140.03 222.60 Td (a ) Tj ET Q q 0 0 0 rg BT 146.87 222.60 Td (successful ) Tj ET Q q 0 0 0 rg BT 190.38 222.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 216.11 222.60 Td (test ) Tj ET Q q 0 0 0 rg BT 232.40 222.60 Td (well ) Tj ET Q q 0 0 0 rg BT 252.02 222.60 Td (in ) Tj ET Q q 0 0 0 rg BT 262.21 222.60 Td (Cabin ) Tj ET Q q 0 0 0 rg BT 288.50 222.60 Td (Creek�) Tj ET Q q 0 0 0 rg BT 315.15 222.60 Td (s ) Tj ET Q q 0 0 0 rg BT 321.45 222.60 Td (Charles ) Tj ET Q q 0 0 0 rg BT 354.40 222.60 Td (B ) Tj ET Q q 0 0 0 rg BT 363.48 222.60 Td (formation. ) Tj ET Q q 0 0 0 rg BT 407.82 222.60 Td ( ) Tj ET Q q 0 0 0 rg BT 410.05 222.60 Td (W) Tj ET Q q 0 0 0 rg BT 418.68 222.60 Td (e ) Tj ET Q q 0 0 0 rg BT 425.53 222.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 462.37 222.60 Td (to ) Tj ET Q q 0 0 0 rg BT 472.55 222.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 508.26 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 522.89 222.60 Td (Charles ) Tj ET Q q 0 0 0 rg BT 555.84 222.60 Td (B ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (formation ) Tj ET Q q 0 0 0 rg BT 92.08 210.60 Td (and ) Tj ET Q q 0 0 0 rg BT 109.66 210.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 141.68 210.60 Td (it ) Tj ET Q q 0 0 0 rg BT 150.38 210.60 Td (has ) Tj ET Q q 0 0 0 rg BT 166.85 210.60 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 227.19 210.60 Td (that ) Tj ET Q q 0 0 0 rg BT 245.33 210.60 Td (would ) Tj ET Q q 0 0 0 rg BT 273.47 210.60 Td (make ) Tj ET Q q 0 0 0 rg BT 298.27 210.60 Td (it ) Tj ET Q q 0 0 0 rg BT 306.97 210.60 Td (a ) Tj ET Q q 0 0 0 rg BT 314.55 210.60 Td (good ) Tj ET Q q 0 0 0 rg BT 337.70 210.60 Td (candidate ) Tj ET Q q 0 0 0 rg BT 379.15 210.60 Td (for ) Tj ET Q q 0 0 0 rg BT 393.96 210.60 Td (secondary ) Tj ET Q q 0 0 0 rg BT 437.64 210.60 Td (or ) Tj ET Q q 0 0 0 rg BT 449.11 210.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 481.13 210.60 Td (flooding. ) Tj ET Q q 0 0 0 rg BT 520.66 210.60 Td ( ) Tj ET Q q 0 0 0 rg BT 523.81 210.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 542.50 210.60 Td (2019 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (development ) Tj ET Q q 0 0 0 rg BT 103.65 198.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 127.26 198.60 Td (for ) Tj ET Q q 0 0 0 rg BT 141.42 198.60 Td (CCA) Tj ET Q q 0 0 0 rg BT 161.43 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 163.93 198.60 Td (include ) Tj ET Q q 0 0 0 rg BT 195.86 198.60 Td (up ) Tj ET Q q 0 0 0 rg BT 208.36 198.60 Td (to ) Tj ET Q q 0 0 0 rg BT 218.64 198.60 Td (four ) Tj ET Q q 0 0 0 rg BT 237.80 198.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 280.29 198.60 Td (Mission ) Tj ET Q q 0 0 0 rg BT 315.02 198.60 Td (Canyon ) Tj ET Q q 0 0 0 rg BT 348.63 198.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 372.24 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 389.18 198.60 Td (a ) Tj ET Q q 0 0 0 rg BT 396.12 198.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 433.61 198.60 Td (Charles ) Tj ET Q q 0 0 0 rg BT 466.65 198.60 Td (B ) Tj ET Q q 0 0 0 rg BT 475.82 198.60 Td (follow-up ) Tj ET Q q 0 0 0 rg BT 517.76 198.60 Td (well.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 174.60 Td (CCA) Tj ET Q q 0 0 0 rg BT 87.51 174.60 Td ( ) Tj ET Q q 0 0 0 rg BT 89.24 174.60 Td (is ) Tj ET Q q 0 0 0 rg BT 97.63 174.60 Td (located ) Tj ET Q q 0 0 0 rg BT 128.23 174.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 187.72 174.60 Td (1) Tj ET Q q 0 0 0 rg BT 192.35 174.60 Td (10 ) Tj ET Q q 0 0 0 rg BT 204.08 174.60 Td (miles ) Tj ET Q q 0 0 0 rg BT 227.47 174.60 Td (north ) Tj ET Q q 0 0 0 rg BT 250.31 174.60 Td (of ) Tj ET Q q 0 0 0 rg BT 260.36 174.60 Td (Bell ) Tj ET Q q 0 0 0 rg BT 278.76 174.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 304.36 174.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 329.14 174.60 Td (and ) Tj ET Q q 0 0 0 rg BT 345.31 174.60 Td (our ) Tj ET Q q 0 0 0 rg BT 360.37 174.60 Td (current ) Tj ET Q q 0 0 0 rg BT 390.41 174.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 409.36 174.60 Td (is ) Tj ET Q q 0 0 0 rg BT 417.75 174.60 Td (to ) Tj ET Q q 0 0 0 rg BT 427.26 174.60 Td (connect ) Tj ET Q q 0 0 0 rg BT 460.08 174.60 Td (this ) Tj ET Q q 0 0 0 rg BT 476.26 174.60 Td (field ) Tj ET Q q 0 0 0 rg BT 496.31 174.60 Td (to ) Tj ET Q q 0 0 0 rg BT 505.81 174.60 Td (our ) Tj ET Q q 0 0 0 rg BT 520.87 174.60 Td (Greencore ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 84.64 162.60 Td (by ) Tj ET Q q 0 0 0 rg BT 97.00 162.60 Td (the ) Tj ET Q q 0 0 0 rg BT 111.58 162.60 Td (end ) Tj ET Q q 0 0 0 rg BT 128.38 162.60 Td (of ) Tj ET Q q 0 0 0 rg BT 139.08 162.60 Td (2020.��In ) Tj ET Q q 0 0 0 rg BT 177.27 162.60 Td (June ) Tj ET Q q 0 0 0 rg BT 197.96 162.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 222.83 162.60 Td (we ) Tj ET Q q 0 0 0 rg BT 236.85 162.60 Td (announced ) Tj ET Q q 0 0 0 rg BT 282.53 162.60 Td (the ) Tj ET Q q 0 0 0 rg BT 297.11 162.60 Td (sanctioning ) Tj ET Q q 0 0 0 rg BT 345.57 162.60 Td (of ) Tj ET Q q 0 0 0 rg BT 356.27 162.60 Td (the ) Tj ET Q q 0 0 0 rg BT 370.85 162.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 384.74 161.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.99 162.60 Td ( ) Tj ET Q q 0 0 0 rg BT 390.35 162.60 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 430.47 162.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 443.39 162.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 480.73 162.60 Td (development ) Tj ET Q q 0 0 0 rg BT 534.74 162.60 Td (project ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td (at ) Tj ET Q q 0 0 0 rg BT 58.65 150.60 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 84.47 150.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 109.86 150.60 Td (Anticline. ) Tj ET Q q 0 0 0 rg BT 151.50 150.60 Td ( ) Tj ET Q q 0 0 0 rg BT 153.30 150.60 Td (The ) Tj ET Q q 0 0 0 rg BT 170.79 150.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 199.37 150.60 Td (outlay ) Tj ET Q q 0 0 0 rg BT 226.31 150.60 Td (for ) Tj ET Q q 0 0 0 rg BT 239.90 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 254.06 150.60 Td (initial ) Tj ET Q q 0 0 0 rg BT 279.33 150.60 Td (phase ) Tj ET Q q 0 0 0 rg BT 304.03 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 314.30 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 328.45 150.60 Td (project ) Tj ET Q q 0 0 0 rg BT 358.16 150.60 Td (is ) Tj ET Q q 0 0 0 rg BT 366.76 150.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 404.79 150.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 445.05 150.60 Td (at ) Tj ET Q q 0 0 0 rg BT 454.21 150.60 Td ($300 ) Tj ET Q q 0 0 0 rg BT 476.14 150.60 Td (million ) Tj ET Q q 0 0 0 rg BT 506.97 150.60 Td (through ) Tj ET Q q 0 0 0 rg BT 540.02 150.60 Td (2022, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (which ) Tj ET Q q 0 0 0 rg BT 76.44 138.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 112.26 138.60 Td ($150 ) Tj ET Q q 0 0 0 rg BT 134.76 138.60 Td (million ) Tj ET Q q 0 0 0 rg BT 166.15 138.60 Td (for ) Tj ET Q q 0 0 0 rg BT 180.31 138.60 Td (a ) Tj ET Q q 0 0 0 rg BT 187.25 138.60 Td (1) Tj ET Q q 0 0 0 rg BT 191.88 138.60 Td (10-mile ) Tj ET Q q 0 0 0 rg BT 225.48 138.60 Td (extension ) Tj ET Q q 0 0 0 rg BT 266.30 138.60 Td (of ) Tj ET Q q 0 0 0 rg BT 277.13 138.60 Td (the ) Tj ET Q q 0 0 0 rg BT 291.85 138.60 Td (Greencore ) Tj ET Q q 0 0 0 rg BT 335.98 138.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 349.88 137.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.12 138.60 Td ( ) Tj ET Q q 0 0 0 rg BT 355.62 138.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 390.33 138.60 Td (from ) Tj ET Q q 0 0 0 rg BT 412.27 138.60 Td (Bell ) Tj ET Q q 0 0 0 rg BT 431.44 138.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 457.81 138.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 480.87 138.60 Td (discussed ) Tj ET Q q 0 0 0 rg BT 521.70 138.60 Td (above ) Tj ET Q q 0 0 0 rg BT 548.07 138.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.60 Td ($150 ) Tj ET Q q 0 0 0 rg BT 71.40 126.60 Td (million ) Tj ET Q q 0 0 0 rg BT 102.18 126.60 Td (for ) Tj ET Q q 0 0 0 rg BT 115.74 126.60 Td (development ) Tj ET Q q 0 0 0 rg BT 169.29 126.60 Td (in ) Tj ET Q q 0 0 0 rg BT 178.96 126.60 Td (the ) Tj ET Q q 0 0 0 rg BT 193.07 126.60 Td (Red ) Tj ET Q q 0 0 0 rg BT 211.08 126.60 Td (River ) Tj ET Q q 0 0 0 rg BT 235.19 126.60 Td (formation ) Tj ET Q q 0 0 0 rg BT 276.52 126.60 Td (at ) Tj ET Q q 0 0 0 rg BT 285.63 126.60 Td (East ) Tj ET Q q 0 0 0 rg BT 304.75 126.60 Td (Lookout ) Tj ET Q q 0 0 0 rg BT 340.53 126.60 Td (Butte ) Tj ET Q q 0 0 0 rg BT 364.09 126.60 Td (and ) Tj ET Q q 0 0 0 rg BT 380.42 126.60 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 406.20 126.60 Td (Hills ) Tj ET Q q 0 0 0 rg BT 427.54 126.60 Td (South ) Tj ET Q q 0 0 0 rg BT 452.78 126.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 476.89 126.60 Td (in ) Tj ET Q q 0 0 0 rg BT 486.56 126.60 Td (CCA. ) Tj ET Q q 0 0 0 rg BT 511.52 126.60 Td ( ) Tj ET Q q 0 0 0 rg BT 513.42 126.60 Td (First ) Tj ET Q q 0 0 0 rg BT 533.65 126.60 Td (tertiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.60 Td (production ) Tj ET Q q 0 0 0 rg BT 96.26 114.60 Td (from ) Tj ET Q q 0 0 0 rg BT 119.13 114.60 Td (CCA) Tj ET Q q 0 0 0 rg BT 139.14 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 142.57 114.60 Td (is ) Tj ET Q q 0 0 0 rg BT 152.67 114.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 192.20 114.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 231.16 114.60 Td (in ) Tj ET Q q 0 0 0 rg BT 242.37 114.60 Td (the ) Tj ET Q q 0 0 0 rg BT 258.02 114.60 Td (second ) Tj ET Q q 0 0 0 rg BT 289.22 114.60 Td (half ) Tj ET Q q 0 0 0 rg BT 308.20 114.60 Td (of ) Tj ET Q q 0 0 0 rg BT 319.96 114.60 Td (2022 ) Tj ET Q q 0 0 0 rg BT 343.39 114.60 Td (or ) Tj ET Q q 0 0 0 rg BT 355.15 114.60 Td (early ) Tj ET Q q 0 0 0 rg BT 378.57 114.60 Td (2023. ) Tj ET Q q 0 0 0 rg BT 404.50 114.60 Td ( ) Tj ET Q q 0 0 0 rg BT 407.17 114.60 Td (Additional ) Tj ET Q q 0 0 0 rg BT 453.38 114.60 Td (phases ) Tj ET Q q 0 0 0 rg BT 483.47 114.60 Td (of ) Tj ET Q q 0 0 0 rg BT 495.23 114.60 Td (development ) Tj ET Q q 0 0 0 rg BT 550.31 114.60 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 87.53 102.60 Td (to ) Tj ET Q q 0 0 0 rg BT 97.81 102.60 Td (tar) Tj ET Q q 0 0 0 rg BT 108.18 102.60 Td (get ) Tj ET Q q 0 0 0 rg BT 122.89 102.60 Td (the ) Tj ET Q q 0 0 0 rg BT 137.61 102.60 Td (Interlake, ) Tj ET Q q 0 0 0 rg BT 178.14 102.60 Td (Stony ) Tj ET Q q 0 0 0 rg BT 203.98 102.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 245.37 102.60 Td (and ) Tj ET Q q 0 0 0 rg BT 262.31 102.60 Td (Red ) Tj ET Q q 0 0 0 rg BT 280.92 102.60 Td (River ) Tj ET Q q 0 0 0 rg BT 305.63 102.60 Td (formations ) Tj ET Q q 0 0 0 rg BT 351.46 102.60 Td (at ) Tj ET Q q 0 0 0 rg BT 361.17 102.60 Td (Cabin ) Tj ET Q q 0 0 0 rg BT 387.56 102.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 413.94 102.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 437.00 102.60 Td (beginning ) Tj ET Q q 0 0 0 rg BT 479.49 102.60 Td (in ) Tj ET Q q 0 0 0 rg BT 489.77 102.60 Td (2024.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 78.60 Td (Grieve ) Tj ET Q q 0 0 0 rg BT 99.54 78.60 Td (Field.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.71 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 126.88 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 130.05 78.60 Td (Under ) Tj ET Q q 0 0 0 rg BT 158.21 78.60 Td (a ) Tj ET Q q 0 0 0 rg BT 165.82 78.60 Td (201) Tj ET Q q 0 0 0 rg BT 180.45 78.60 Td (1 ) Tj ET Q q 0 0 0 rg BT 188.62 78.60 Td (farm-in ) Tj ET Q q 0 0 0 rg BT 221.78 78.60 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 269.09 78.60 Td (we ) Tj ET Q q 0 0 0 rg BT 283.92 78.60 Td (obtained ) Tj ET Q q 0 0 0 rg BT 321.53 78.60 Td (a ) Tj ET Q q 0 0 0 rg BT 329.14 78.60 Td (65% ) Tj ET Q q 0 0 0 rg BT 350.64 78.60 Td (working ) Tj ET Q q 0 0 0 rg BT 387.14 78.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 419.75 78.60 Td (in ) Tj ET Q q 0 0 0 rg BT 430.70 78.60 Td (Grieve ) Tj ET Q q 0 0 0 rg BT 461.07 78.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 487.30 78.60 Td (located ) Tj ET Q q 0 0 0 rg BT 519.35 78.60 Td (in ) Tj ET Q q 0 0 0 rg BT 530.30 78.60 Td (Natrona ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.60 Td (County) Tj ET Q q 0 0 0 rg BT 78.30 66.60 Td (, ) Tj ET Q q 0 0 0 rg BT 82.43 66.60 Td (W) Tj ET Q q 0 0 0 rg BT 91.27 66.60 Td (yoming, ) Tj ET Q q 0 0 0 rg BT 126.08 66.60 Td (in ) Tj ET Q q 0 0 0 rg BT 135.62 66.60 Td (exchange ) Tj ET Q q 0 0 0 rg BT 175.13 66.60 Td (for ) Tj ET Q q 0 0 0 rg BT 188.54 66.60 Td (developing ) Tj ET Q q 0 0 0 rg BT 234.73 66.60 Td (the ) Tj ET Q q 0 0 0 rg BT 248.71 66.60 Td (Grieve ) Tj ET Q q 0 0 0 rg BT 277.67 66.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 299.98 66.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 313.88 65.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 317.13 66.60 Td ( ) Tj ET Q q 0 0 0 rg BT 318.88 66.60 Td (flood. ) Tj ET Q q 0 0 0 rg BT 344.25 66.60 Td ( ) Tj ET Q q 0 0 0 rg BT 346.00 66.60 Td (During ) Tj ET Q q 0 0 0 rg BT 376.09 66.60 Td (2016, ) Tj ET Q q 0 0 0 rg BT 400.35 66.60 Td (the ) Tj ET Q q 0 0 0 rg BT 414.32 66.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 454.97 66.60 Td (and ) Tj ET Q q 0 0 0 rg BT 471.16 66.60 Td (its ) Tj ET Q q 0 0 0 rg BT 482.37 66.60 Td (joint ) Tj ET Q q 0 0 0 rg BT 502.46 66.60 Td (venture ) Tj ET Q q 0 0 0 rg BT 534.20 66.60 Td (partner ) Tj ET Q endstream endobj 37 0 obj <> endobj 38 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (in ) Tj ET Q q 0 0 0 rg BT 58.77 726.60 Td (Grieve ) Tj ET Q q 0 0 0 rg BT 87.47 726.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 109.52 726.60 Td (revised ) Tj ET Q q 0 0 0 rg BT 139.89 726.60 Td (their ) Tj ET Q q 0 0 0 rg BT 159.70 726.60 Td (development ) Tj ET Q q 0 0 0 rg BT 212.84 726.60 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 264.31 726.60 Td (for ) Tj ET Q q 0 0 0 rg BT 277.46 726.60 Td (the ) Tj ET Q q 0 0 0 rg BT 291.17 726.60 Td (field ) Tj ET Q q 0 0 0 rg BT 310.98 726.60 Td (so ) Tj ET Q q 0 0 0 rg BT 321.37 726.60 Td (that ) Tj ET Q q 0 0 0 rg BT 337.85 726.60 Td (our ) Tj ET Q q 0 0 0 rg BT 352.68 726.60 Td (partner ) Tj ET Q q 0 0 0 rg BT 382.48 726.60 Td (funded ) Tj ET Q q 0 0 0 rg BT 411.74 726.60 Td ($55 ) Tj ET Q q 0 0 0 rg BT 428.24 726.60 Td (million ) Tj ET Q q 0 0 0 rg BT 458.62 726.60 Td (of ) Tj ET Q q 0 0 0 rg BT 468.44 726.60 Td (the ) Tj ET Q q 0 0 0 rg BT 482.15 726.60 Td (remaining ) Tj ET Q q 0 0 0 rg BT 524.18 726.60 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 78.01 714.60 Td (to ) Tj ET Q q 0 0 0 rg BT 87.65 714.60 Td (complete ) Tj ET Q q 0 0 0 rg BT 126.17 714.60 Td (development ) Tj ET Q q 0 0 0 rg BT 179.68 714.60 Td (of ) Tj ET Q q 0 0 0 rg BT 189.87 714.60 Td (the ) Tj ET Q q 0 0 0 rg BT 203.95 714.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 234.14 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 250.44 714.60 Td (fieldwork ) Tj ET Q q 0 0 0 rg BT 291.18 714.60 Td (in ) Tj ET Q q 0 0 0 rg BT 300.82 714.60 Td (exchange ) Tj ET Q q 0 0 0 rg BT 340.44 714.60 Td (for ) Tj ET Q q 0 0 0 rg BT 353.96 714.60 Td (a ) Tj ET Q q 0 0 0 rg BT 360.26 714.60 Td (14% ) Tj ET Q q 0 0 0 rg BT 380.45 714.60 Td (higher ) Tj ET Q q 0 0 0 rg BT 407.86 714.60 Td (working ) Tj ET Q q 0 0 0 rg BT 443.05 714.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 474.35 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 490.65 714.60 Td (a ) Tj ET Q q 0 0 0 rg BT 496.95 714.60 Td (disproportionate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.60 Td (sharing ) Tj ET Q q 0 0 0 rg BT 81.62 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 92.62 702.60 Td (revenue ) Tj ET Q q 0 0 0 rg BT 126.95 702.60 Td (from ) Tj ET Q q 0 0 0 rg BT 149.06 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 163.96 702.60 Td (first ) Tj ET Q q 0 0 0 rg BT 182.74 702.60 Td (2 ) Tj ET Q q 0 0 0 rg BT 190.42 702.60 Td (million ) Tj ET Q q 0 0 0 rg BT 221.99 702.60 Td (barrels ) Tj ET Q q 0 0 0 rg BT 251.87 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 262.88 702.60 Td (production. ) Tj ET Q q 0 0 0 rg BT 311.38 702.60 Td ( ) Tj ET Q q 0 0 0 rg BT 313.86 702.60 Td (Thus, ) Tj ET Q q 0 0 0 rg BT 339.04 702.60 Td (our ) Tj ET Q q 0 0 0 rg BT 355.05 702.60 Td (working ) Tj ET Q q 0 0 0 rg BT 391.06 702.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 423.17 702.60 Td (in ) Tj ET Q q 0 0 0 rg BT 433.62 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 448.52 702.60 Td (field ) Tj ET Q q 0 0 0 rg BT 469.52 702.60 Td (was ) Tj ET Q q 0 0 0 rg BT 487.75 702.60 Td (reduced ) Tj ET Q q 0 0 0 rg BT 522.07 702.60 Td (from ) Tj ET Q q 0 0 0 rg BT 544.19 702.60 Td (65% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.60 Td (to ) Tj ET Q q 0 0 0 rg BT 59.25 690.60 Td (51%, ) Tj ET Q q 0 0 0 rg BT 82.05 690.60 Td (and ) Tj ET Q q 0 0 0 rg BT 98.46 690.60 Td (our ) Tj ET Q q 0 0 0 rg BT 113.76 690.60 Td (net ) Tj ET Q q 0 0 0 rg BT 127.95 690.60 Td (revenue ) Tj ET Q q 0 0 0 rg BT 161.57 690.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 192.97 690.60 Td (on ) Tj ET Q q 0 0 0 rg BT 204.95 690.60 Td (the ) Tj ET Q q 0 0 0 rg BT 219.13 690.60 Td (first ) Tj ET Q q 0 0 0 rg BT 237.21 690.60 Td (million ) Tj ET Q q 0 0 0 rg BT 268.08 690.60 Td (barrels ) Tj ET Q q 0 0 0 rg BT 297.26 690.60 Td (of ) Tj ET Q q 0 0 0 rg BT 307.56 690.60 Td (production ) Tj ET Q q 0 0 0 rg BT 352.86 690.60 Td (is ) Tj ET Q q 0 0 0 rg BT 361.50 690.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 421.23 690.60 Td (20%. ) Tj ET Q q 0 0 0 rg BT 444.03 690.60 Td ( ) Tj ET Q q 0 0 0 rg BT 445.86 690.60 Td (This ) Tj ET Q q 0 0 0 rg BT 465.61 690.60 Td (arrangement ) Tj ET Q q 0 0 0 rg BT 517.55 690.60 Td (accelerated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 678.60 Td (remaining ) Tj ET Q q 0 0 0 rg BT 107.26 678.60 Td (development ) Tj ET Q q 0 0 0 rg BT 161.41 678.60 Td (of ) Tj ET Q q 0 0 0 rg BT 172.24 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 186.96 678.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 217.78 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 234.71 678.60 Td (fieldwork, ) Tj ET Q q 0 0 0 rg BT 278.59 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 295.53 678.60 Td (we ) Tj ET Q q 0 0 0 rg BT 309.69 678.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 348.28 678.60 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 389.65 678.60 Td (first ) Tj ET Q q 0 0 0 rg BT 408.26 678.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 439.63 678.60 Td (production ) Tj ET Q q 0 0 0 rg BT 485.46 678.60 Td (in ) Tj ET Q q 0 0 0 rg BT 495.74 678.60 Td (early ) Tj ET Q q 0 0 0 rg BT 518.22 678.60 Td (2019.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 654.60 Td (Hartzog ) Tj ET Q q 0 0 0 rg BT 105.53 654.60 Td (Draw ) Tj ET Q q 0 0 0 rg BT 132.46 654.60 Td (Field. ) Tj ET Q q 0 0 0 rg BT 159.67 654.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.72 654.60 Td (W) Tj ET Q q 0 0 0 rg BT 171.36 654.60 Td (e ) Tj ET Q q 0 0 0 rg BT 178.84 654.60 Td (acquired ) Tj ET Q q 0 0 0 rg BT 216.31 654.60 Td (our ) Tj ET Q q 0 0 0 rg BT 232.69 654.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 265.17 654.60 Td (in ) Tj ET Q q 0 0 0 rg BT 276.00 654.60 Td (Hartzog ) Tj ET Q q 0 0 0 rg BT 311.25 654.60 Td (Draw ) Tj ET Q q 0 0 0 rg BT 336.51 654.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 360.11 654.60 Td (in ) Tj ET Q q 0 0 0 rg BT 370.94 654.60 Td (2012 ) Tj ET Q q 0 0 0 rg BT 393.98 654.60 Td (in ) Tj ET Q q 0 0 0 rg BT 404.81 654.60 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 455.07 654.60 Td (with ) Tj ET Q q 0 0 0 rg BT 475.89 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 491.16 654.60 Td (Bakken ) Tj ET Q q 0 0 0 rg BT 524.75 654.60 Td (exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (transaction ) Tj ET Q q 0 0 0 rg BT 95.85 642.60 Td (with ) Tj ET Q q 0 0 0 rg BT 116.11 642.60 Td (ExxonMobil. ) Tj ET Q q 0 0 0 rg BT 171.65 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 173.95 642.60 Td (The ) Tj ET Q q 0 0 0 rg BT 191.97 642.60 Td (field ) Tj ET Q q 0 0 0 rg BT 212.78 642.60 Td (is ) Tj ET Q q 0 0 0 rg BT 221.93 642.60 Td (located ) Tj ET Q q 0 0 0 rg BT 253.28 642.60 Td (in ) Tj ET Q q 0 0 0 rg BT 263.54 642.60 Td (the ) Tj ET Q q 0 0 0 rg BT 278.23 642.60 Td (Powder ) Tj ET Q q 0 0 0 rg BT 311.26 642.60 Td (River ) Tj ET Q q 0 0 0 rg BT 335.96 642.60 Td (Basin ) Tj ET Q q 0 0 0 rg BT 361.22 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 372.03 642.60 Td (northeastern ) Tj ET Q q 0 0 0 rg BT 423.75 642.60 Td (W) Tj ET Q q 0 0 0 rg BT 432.59 642.60 Td (yoming, ) Tj ET Q q 0 0 0 rg BT 468.13 642.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 528.36 642.60 Td (12 ) Tj ET Q q 0 0 0 rg BT 540.84 642.60 Td (miles ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (from ) Tj ET Q q 0 0 0 rg BT 71.02 630.60 Td (our ) Tj ET Q q 0 0 0 rg BT 86.43 630.60 Td (Greencore ) Tj ET Q q 0 0 0 rg BT 130.15 630.60 Td (Pipeline. ) Tj ET Q q 0 0 0 rg BT 167.51 630.60 Td ( ) Tj ET Q q 0 0 0 rg BT 169.59 630.60 Td (Hartzog ) Tj ET Q q 0 0 0 rg BT 203.88 630.60 Td (Draw ) Tj ET Q q 0 0 0 rg BT 228.17 630.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 250.81 630.60 Td (had ) Tj ET Q q 0 0 0 rg BT 267.33 630.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 307.74 630.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 337.59 630.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 372.43 630.60 Td (of ) Tj ET Q q 0 0 0 rg BT 382.84 630.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 442.68 630.60 Td (2.9 ) Tj ET Q q 0 0 0 rg BT 457.27 630.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 497.13 630.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.43 630.60 Td (December�31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 618.60 Td (, ) Tj ET Q q 0 0 0 rg BT 73.83 618.60 Td (net ) Tj ET Q q 0 0 0 rg BT 87.87 618.60 Td (to ) Tj ET Q q 0 0 0 rg BT 97.47 618.60 Td (our ) Tj ET Q q 0 0 0 rg BT 112.63 618.60 Td (interest, ) Tj ET Q q 0 0 0 rg BT 146.38 618.60 Td (0.7 ) Tj ET Q q 0 0 0 rg BT 160.71 618.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 200.32 618.60 Td (of ) Tj ET Q q 0 0 0 rg BT 210.47 618.60 Td (which ) Tj ET Q q 0 0 0 rg BT 236.74 618.60 Td (relate ) Tj ET Q q 0 0 0 rg BT 260.76 618.60 Td (to ) Tj ET Q q 0 0 0 rg BT 270.37 618.60 Td (the ) Tj ET Q q 0 0 0 rg BT 284.41 618.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 314.00 618.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 329.15 618.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 371.53 618.60 Td (Big ) Tj ET Q q 0 0 0 rg BT 387.80 618.60 Td (Geor) Tj ET Q q 0 0 0 rg BT 407.61 618.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 418.87 618.60 Td (coal ) Tj ET Q q 0 0 0 rg BT 437.35 618.60 Td (zone.��During ) Tj ET Q q 0 0 0 rg BT 493.89 618.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.93 618.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 534.19 618.60 Td (quarter) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.85 606.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.85 606.60 Td (, ) Tj ET Q q 0 0 0 rg BT 84.37 606.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 133.60 606.60 Td (production ) Tj ET Q q 0 0 0 rg BT 178.94 606.60 Td (averaged ) Tj ET Q q 0 0 0 rg BT 217.05 606.60 Td (1,327 ) Tj ET Q q 0 0 0 rg BT 241.57 606.60 Td (BOE/d, ) Tj ET Q q 0 0 0 rg BT 273.87 606.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 315.32 606.60 Td (to ) Tj ET Q q 0 0 0 rg BT 325.12 606.60 Td (1,518 ) Tj ET Q q 0 0 0 rg BT 349.64 606.60 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 379.44 606.60 Td (in ) Tj ET Q q 0 0 0 rg BT 389.24 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 403.47 606.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 429.93 606.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 460.27 606.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.62 606.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.62 606.60 Td (. ) Tj ET Q q 0 0 0 rg BT 495.14 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 497.17 606.60 Td (Industry ) Tj ET Q q 0 0 0 rg BT 532.52 606.60 Td (activity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (around ) Tj ET Q q 0 0 0 rg BT 79.22 594.60 Td (this ) Tj ET Q q 0 0 0 rg BT 95.62 594.60 Td (field ) Tj ET Q q 0 0 0 rg BT 115.90 594.60 Td (has ) Tj ET Q q 0 0 0 rg BT 131.18 594.60 Td (been ) Tj ET Q q 0 0 0 rg BT 152.01 594.60 Td (increasing ) Tj ET Q q 0 0 0 rg BT 195.06 594.60 Td (for ) Tj ET Q q 0 0 0 rg BT 208.67 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 222.84 594.60 Td (last ) Tj ET Q q 0 0 0 rg BT 238.68 594.60 Td (several ) Tj ET Q q 0 0 0 rg BT 268.95 594.60 Td (years, ) Tj ET Q q 0 0 0 rg BT 294.50 594.60 Td (with ) Tj ET Q q 0 0 0 rg BT 314.24 594.60 Td (several ) Tj ET Q q 0 0 0 rg BT 344.50 594.60 Td (operators ) Tj ET Q q 0 0 0 rg BT 383.67 594.60 Td (testing ) Tj ET Q q 0 0 0 rg BT 412.28 594.60 Td (various ) Tj ET Q q 0 0 0 rg BT 443.67 594.60 Td (formations ) Tj ET Q q 0 0 0 rg BT 488.95 594.60 Td (such ) Tj ET Q q 0 0 0 rg BT 509.24 594.60 Td (as ) Tj ET Q q 0 0 0 rg BT 519.52 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 533.55 594.60 Td (T) Tj ET Q q 0 0 0 rg BT 539.31 594.60 Td (urner) Tj ET Q q 0 0 0 rg BT 560.00 594.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (Niobrara, ) Tj ET Q q 0 0 0 rg BT 89.73 582.60 Td (Shannon, ) Tj ET Q q 0 0 0 rg BT 129.42 582.60 Td (Parkman ) Tj ET Q q 0 0 0 rg BT 167.15 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 183.78 582.60 Td (Mowry ) Tj ET Q q 0 0 0 rg BT 215.41 582.60 Td (for ) Tj ET Q q 0 0 0 rg BT 229.26 582.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 266.44 582.60 Td (development. ) Tj ET Q q 0 0 0 rg BT 322.78 582.60 Td ( ) Tj ET Q q 0 0 0 rg BT 324.81 582.60 Td (W) Tj ET Q q 0 0 0 rg BT 333.45 582.60 Td (e ) Tj ET Q q 0 0 0 rg BT 340.07 582.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 371.14 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 385.54 582.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 398.29 582.60 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 436.01 582.60 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 495.39 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 505.91 582.60 Td (Hartzog ) Tj ET Q q 0 0 0 rg BT 540.30 582.60 Td (Draw ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 72.17 570.60 Td (make ) Tj ET Q q 0 0 0 rg BT 95.94 570.60 Td (it ) Tj ET Q q 0 0 0 rg BT 103.62 570.60 Td (well ) Tj ET Q q 0 0 0 rg BT 122.95 570.60 Td (suited ) Tj ET Q q 0 0 0 rg BT 148.95 570.60 Td (for ) Tj ET Q q 0 0 0 rg BT 162.73 570.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 176.62 569.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.87 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 181.98 570.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 204.10 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 213.99 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 228.33 570.60 Td (future. ) Tj ET Q q 0 0 0 rg BT 256.82 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 258.78 570.60 Td (W) Tj ET Q q 0 0 0 rg BT 267.42 570.60 Td (e ) Tj ET Q q 0 0 0 rg BT 273.97 570.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 312.18 570.60 Td (plan ) Tj ET Q q 0 0 0 rg BT 331.51 570.60 Td (to ) Tj ET Q q 0 0 0 rg BT 341.41 570.60 Td (initiate ) Tj ET Q q 0 0 0 rg BT 371.29 570.60 Td (a ) Tj ET Q q 0 0 0 rg BT 377.85 570.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 391.74 569.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 394.99 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 397.10 570.60 Td (flood ) Tj ET Q q 0 0 0 rg BT 420.33 570.60 Td (at ) Tj ET Q q 0 0 0 rg BT 429.66 570.60 Td (Hartzog ) Tj ET Q q 0 0 0 rg BT 463.98 570.60 Td (Draw ) Tj ET Q q 0 0 0 rg BT 488.31 570.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 510.98 570.60 Td (several ) Tj ET Q q 0 0 0 rg BT 541.41 570.60 Td (years ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (from ) Tj ET Q q 0 0 0 rg BT 71.44 558.60 Td (now) Tj ET Q q 0 0 0 rg BT 88.01 558.60 Td (, ) Tj ET Q q 0 0 0 rg BT 93.01 558.60 Td (the ) Tj ET Q q 0 0 0 rg BT 107.73 558.60 Td (timing ) Tj ET Q q 0 0 0 rg BT 136.34 558.60 Td (of ) Tj ET Q q 0 0 0 rg BT 147.17 558.60 Td (which ) Tj ET Q q 0 0 0 rg BT 174.11 558.60 Td (is ) Tj ET Q q 0 0 0 rg BT 183.28 558.60 Td (dependent ) Tj ET Q q 0 0 0 rg BT 226.87 558.60 Td (on ) Tj ET Q q 0 0 0 rg BT 239.37 558.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 268.52 558.60 Td (availability ) Tj ET Q q 0 0 0 rg BT 316.01 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 332.95 558.60 Td (priorities ) Tj ET Q q 0 0 0 rg BT 371.55 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 388.49 558.60 Td (future ) Tj ET Q q 0 0 0 rg BT 414.87 558.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 427.92 558.60 Td (prices.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (Other) Tj ET Q q 0 0 0 rg BT 74.87 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 77.37 534.60 Td (Non-T) Tj ET Q q 0 0 0 rg BT 104.23 534.60 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 136.16 534.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 151.99 534.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 162.36 534.60 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 510.60 Td (Despite ) Tj ET Q q 0 0 0 rg BT 99.75 510.60 Td (the ) Tj ET Q q 0 0 0 rg BT 113.67 510.60 Td (majority ) Tj ET Q q 0 0 0 rg BT 149.26 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 159.29 510.60 Td (our ) Tj ET Q q 0 0 0 rg BT 174.33 510.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 186.59 510.60 Td (and ) Tj ET Q q 0 0 0 rg BT 202.73 510.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 232.20 510.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 247.23 510.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 288.92 510.60 Td (discussed ) Tj ET Q q 0 0 0 rg BT 328.96 510.60 Td (above ) Tj ET Q q 0 0 0 rg BT 354.54 510.60 Td (consisting ) Tj ET Q q 0 0 0 rg BT 396.80 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 406.83 510.60 Td (either ) Tj ET Q q 0 0 0 rg BT 431.30 510.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 464.67 510.60 Td (or ) Tj ET Q q 0 0 0 rg BT 474.70 510.60 Td (planned ) Tj ET Q q 0 0 0 rg BT 508.06 510.60 Td (future ) Tj ET Q q 0 0 0 rg BT 533.64 510.60 Td (tertiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (floods, ) Tj ET Q q 0 0 0 rg BT 80.01 498.60 Td (we ) Tj ET Q q 0 0 0 rg BT 94.68 498.60 Td (also ) Tj ET Q q 0 0 0 rg BT 113.79 498.60 Td (produce ) Tj ET Q q 0 0 0 rg BT 149.01 498.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 162.57 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 180.02 498.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 210.79 498.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 227.13 498.60 Td (either ) Tj ET Q q 0 0 0 rg BT 252.90 498.60 Td (from ) Tj ET Q q 0 0 0 rg BT 275.34 498.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 300.57 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 311.36 498.60 Td (both ) Tj ET Q q 0 0 0 rg BT 332.14 498.60 Td (our ) Tj ET Q q 0 0 0 rg BT 348.48 498.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 369.82 498.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 395.60 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 413.05 498.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 442.17 498.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 484.06 498.60 Td (regions ) Tj ET Q q 0 0 0 rg BT 516.51 498.60 Td (that ) Tj ET Q q 0 0 0 rg BT 534.51 498.60 Td (are ) Tj ET Q q 0 0 0 rg BT 549.72 498.60 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (amenable ) Tj ET Q q 0 0 0 rg BT 90.77 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 101.50 486.60 Td (EOR ) Tj ET Q q 0 0 0 rg BT 124.46 486.60 Td (or ) Tj ET Q q 0 0 0 rg BT 135.74 486.60 Td (from ) Tj ET Q q 0 0 0 rg BT 158.14 486.60 Td (specific ) Tj ET Q q 0 0 0 rg BT 192.18 486.60 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 234.57 486.60 Td (\(within ) Tj ET Q q 0 0 0 rg BT 266.41 486.60 Td (an ) Tj ET Q q 0 0 0 rg BT 278.81 486.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 313.43 486.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 345.25 486.60 Td (field\) ) Tj ET Q q 0 0 0 rg BT 369.86 486.60 Td (that ) Tj ET Q q 0 0 0 rg BT 387.81 486.60 Td (are ) Tj ET Q q 0 0 0 rg BT 402.98 486.60 Td (not ) Tj ET Q q 0 0 0 rg BT 418.71 486.60 Td (amenable ) Tj ET Q q 0 0 0 rg BT 459.98 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 470.71 486.60 Td (EOR. ) Tj ET Q q 0 0 0 rg BT 496.17 486.60 Td ( ) Tj ET Q q 0 0 0 rg BT 499.12 486.60 Td (For ) Tj ET Q q 0 0 0 rg BT 515.97 486.60 Td (example, ) Tj ET Q q 0 0 0 rg BT 555.30 486.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (Heidelber) Tj ET Q q 0 0 0 rg BT 88.74 474.60 Td (g ) Tj ET Q q 0 0 0 rg BT 95.17 474.60 Td (Field, ) Tj ET Q q 0 0 0 rg BT 119.65 474.60 Td (we ) Tj ET Q q 0 0 0 rg BT 132.74 474.60 Td (produce ) Tj ET Q q 0 0 0 rg BT 166.37 474.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 195.56 474.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 210.32 474.60 Td (from ) Tj ET Q q 0 0 0 rg BT 231.18 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 244.82 474.60 Td (Selma ) Tj ET Q q 0 0 0 rg BT 271.24 474.60 Td (Chalk ) Tj ET Q q 0 0 0 rg BT 296.56 474.60 Td (reservoir) Tj ET Q q 0 0 0 rg BT 331.69 474.60 Td (, ) Tj ET Q q 0 0 0 rg BT 335.62 474.60 Td (which ) Tj ET Q q 0 0 0 rg BT 361.48 474.60 Td (is ) Tj ET Q q 0 0 0 rg BT 369.58 474.60 Td (separate ) Tj ET Q q 0 0 0 rg BT 403.76 474.60 Td (from ) Tj ET Q q 0 0 0 rg BT 424.62 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 438.26 474.60 Td (Christmas ) Tj ET Q q 0 0 0 rg BT 480.25 474.60 Td (and ) Tj ET Q q 0 0 0 rg BT 496.11 474.60 Td (Eutaw ) Tj ET Q q 0 0 0 rg BT 523.08 474.60 Td (reservoirs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 88.54 462.60 Td (being ) Tj ET Q q 0 0 0 rg BT 113.69 462.60 Td (flooded ) Tj ET Q q 0 0 0 rg BT 147.18 462.60 Td (with ) Tj ET Q q 0 0 0 rg BT 167.90 462.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 181.79 461.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 185.04 462.60 Td (. ) Tj ET Q q 0 0 0 rg BT 190.49 462.60 Td ( ) Tj ET Q q 0 0 0 rg BT 193.43 462.60 Td (Continuing ) Tj ET Q q 0 0 0 rg BT 241.38 462.60 Td (production ) Tj ET Q q 0 0 0 rg BT 287.64 462.60 Td (from ) Tj ET Q q 0 0 0 rg BT 310.02 462.60 Td (these ) Tj ET Q q 0 0 0 rg BT 333.51 462.60 Td (other ) Tj ET Q q 0 0 0 rg BT 357.00 462.60 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 407.14 462.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 450.07 462.60 Td (totaled ) Tj ET Q q 0 0 0 rg BT 480.23 462.60 Td (2,062 ) Tj ET Q q 0 0 0 rg BT 505.67 462.60 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 536.39 462.60 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 450.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 91.16 450.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 121.97 450.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.80 450.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.80 450.60 Td (, ) Tj ET Q q 0 0 0 rg BT 157.80 450.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 199.72 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 210.00 450.60 Td (1,864 ) Tj ET Q q 0 0 0 rg BT 235.00 450.60 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 265.28 450.60 Td (during ) Tj ET Q q 0 0 0 rg BT 293.89 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 308.61 450.60 Td (fourth ) Tj ET Q q 0 0 0 rg BT 335.54 450.60 Td (quarter ) Tj ET Q q 0 0 0 rg BT 366.36 450.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 377.19 450.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.19 450.60 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 438.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 438.60 Td (�) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (OIL) Tj ET Q q 0 0 0 rg BT 67.29 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 69.24 426.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 93.40 426.60 Td (GAS ) Tj ET Q q 0 0 0 rg BT 115.91 426.60 Td (ACREAGE, ) Tj ET Q q 0 0 0 rg BT 170.92 426.60 Td (PRODUCTIVE ) Tj ET Q q 0 0 0 rg BT 240.46 426.60 Td (WELLS ) Tj ET Q q 0 0 0 rg BT 277.98 426.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 302.15 426.60 Td (DRILLING ) Tj ET Q q 0 0 0 rg BT 354.66 426.60 Td (ACTIVITY) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.60 Td (In ) Tj ET Q q 0 0 0 rg BT 77.80 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 91.99 402.60 Td (data ) Tj ET Q q 0 0 0 rg BT 110.61 402.60 Td (below) Tj ET Q q 0 0 0 rg BT 134.40 402.60 Td (, ) Tj ET Q q 0 0 0 rg BT 138.87 402.60 Td (�gross� ) Tj ET Q q 0 0 0 rg BT 170.83 402.60 Td (represents ) Tj ET Q q 0 0 0 rg BT 213.33 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 227.52 402.60 Td (total ) Tj ET Q q 0 0 0 rg BT 247.26 402.60 Td (acres ) Tj ET Q q 0 0 0 rg BT 269.77 402.60 Td (or ) Tj ET Q q 0 0 0 rg BT 280.07 402.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 303.15 402.60 Td (in ) Tj ET Q q 0 0 0 rg BT 312.89 402.60 Td (which ) Tj ET Q q 0 0 0 rg BT 339.30 402.60 Td (we ) Tj ET Q q 0 0 0 rg BT 352.93 402.60 Td (own ) Tj ET Q q 0 0 0 rg BT 372.12 402.60 Td (a ) Tj ET Q q 0 0 0 rg BT 378.53 402.60 Td (working ) Tj ET Q q 0 0 0 rg BT 413.83 402.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 445.23 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 461.64 402.60 Td (�net� ) Tj ET Q q 0 0 0 rg BT 484.70 402.60 Td (represents ) Tj ET Q q 0 0 0 rg BT 527.21 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 541.39 402.60 Td (gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (acres ) Tj ET Q q 0 0 0 rg BT 73.08 390.60 Td (or ) Tj ET Q q 0 0 0 rg BT 84.46 390.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 108.61 390.60 Td (multiplied ) Tj ET Q q 0 0 0 rg BT 152.77 390.60 Td (by ) Tj ET Q q 0 0 0 rg BT 165.81 390.60 Td (our ) Tj ET Q q 0 0 0 rg BT 182.19 390.60 Td (working ) Tj ET Q q 0 0 0 rg BT 218.57 390.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 251.04 390.60 Td (percentage.��For ) Tj ET Q q 0 0 0 rg BT 318.78 390.60 Td (the ) Tj ET Q q 0 0 0 rg BT 334.05 390.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 358.20 390.60 Td (that ) Tj ET Q q 0 0 0 rg BT 376.24 390.60 Td (produce ) Tj ET Q q 0 0 0 rg BT 411.49 390.60 Td (both ) Tj ET Q q 0 0 0 rg BT 432.32 390.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 445.92 390.60 Td (and ) Tj ET Q q 0 0 0 rg BT 463.41 390.60 Td (gas, ) Tj ET Q q 0 0 0 rg BT 482.28 390.60 Td (the ) Tj ET Q q 0 0 0 rg BT 497.54 390.60 Td (well ) Tj ET Q q 0 0 0 rg BT 517.81 390.60 Td (is ) Tj ET Q q 0 0 0 rg BT 527.52 390.60 Td (typically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (classified ) Tj ET Q q 0 0 0 rg BT 89.76 378.60 Td (as ) Tj ET Q q 0 0 0 rg BT 100.59 378.60 Td (an ) Tj ET Q q 0 0 0 rg BT 112.53 378.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 125.59 378.60 Td (or ) Tj ET Q q 0 0 0 rg BT 136.42 378.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 166.68 378.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 182.51 378.60 Td (well ) Tj ET Q q 0 0 0 rg BT 202.23 378.60 Td (based ) Tj ET Q q 0 0 0 rg BT 227.50 378.60 Td (on ) Tj ET Q q 0 0 0 rg BT 240.00 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 254.71 378.60 Td (ratio ) Tj ET Q q 0 0 0 rg BT 275.54 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 286.37 378.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 299.43 378.60 Td (to ) Tj ET Q q 0 0 0 rg BT 309.71 378.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 339.97 378.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 355.80 378.60 Td (production.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 65.33 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 83.96 354.60 Td (Gas ) Tj ET Q q 0 0 0 rg BT 102.58 354.60 Td (Acr) Tj ET Q q 0 0 0 rg BT 118.49 354.60 Td (eage) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 330.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.55 330.60 Td (following ) Tj ET Q q 0 0 0 rg BT 126.93 330.60 Td (table ) Tj ET Q q 0 0 0 rg BT 148.87 330.60 Td (sets ) Tj ET Q q 0 0 0 rg BT 166.37 330.60 Td (forth ) Tj ET Q q 0 0 0 rg BT 188.31 330.60 Td (our ) Tj ET Q q 0 0 0 rg BT 204.14 330.60 Td (acreage ) Tj ET Q q 0 0 0 rg BT 237.16 330.60 Td (position ) Tj ET Q q 0 0 0 rg BT 271.88 330.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.60 330.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 340.19 330.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.19 330.60 Td (:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 294.10 156.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 206.00 294.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 262.00 294.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 266.00 294.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 322.00 294.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 326.00 294.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 294.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 386.00 294.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 442.00 294.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 446.00 294.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.00 294.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 506.00 294.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 264.10 156.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 206.00 264.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 262.00 264.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 266.00 264.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 322.00 264.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 326.00 264.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 264.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 386.00 264.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 442.00 264.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 446.00 264.10 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.00 264.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 506.00 264.10 56.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 307.1 m 262 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 307.1 m 266 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 307.1 m 322 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 307.1 m 382 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 307.1 m 386 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 307.1 m 442 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 307.1 m 502 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 307.1 m 506 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 307.1 m 562 307.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 294.1 m 262 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 294.1 m 322 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 294.1 m 382 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 294.1 m 442 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 294.1 m 502 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 294.1 m 562 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 294.1 m 262 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 294.1 m 322 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 294.1 m 382 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 294.1 m 442 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 294.1 m 502 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 294.1 m 562 294.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 264.1 m 262 264.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 264.1 m 322 264.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 264.1 m 382 264.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 264.1 m 442 264.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 264.1 m 502 264.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 264.1 m 562 264.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 250.10000000000002 m 262 250.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 248.10000000000002 m 262 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 250.10000000000002 m 322 250.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 248.10000000000002 m 322 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 250.10000000000002 m 382 250.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 248.10000000000002 m 382 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 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610.92 Td (2,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 610.92 Td (422) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 610.92 Td (315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 610.92 Td (2,641) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 610.92 Td (2,402) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 595.93 Td (Non-operated wells) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.50 595.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 595.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.50 595.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.50 595.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 595.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 595.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 580.92 Td (Gulf Coast region) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 580.92 Td (52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.15 580.92 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 580.92 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 580.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 580.92 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 580.92 Td (18) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 565.92 Td (Rocky Mountain region) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.15 565.92 Td (637) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 565.92 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 565.92 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 565.92 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 565.92 Td (643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 565.92 Td (137) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 550.92 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 550.92 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.15 550.92 Td (689) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.15 550.92 Td (153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 550.92 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 550.92 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.15 550.92 Td (702) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 550.92 Td (155) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 535.93 Td (T) Tj ET Q q 0 0 0 rg BT 58.25 535.93 Td (otal wells) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.50 535.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 535.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.50 535.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.50 535.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 535.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 535.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 520.92 Td (Gulf Coast region) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.65 520.92 Td (1,292) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 520.92 Td (1,172) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 520.92 Td (151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 520.92 Td (135) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 520.92 Td (1,443) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 520.92 Td (1,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 505.92 Td (Rocky Mountain region) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.65 505.92 Td (1,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 505.92 Td (1,068) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 505.92 Td (284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 505.92 Td (182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 505.92 Td (1,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 505.92 Td (1,250) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 490.92 Td (T) Tj ET Q q 0 0 0 rg BT 69.91 490.92 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.65 490.92 Td (2,908) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.65 490.92 Td (2,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.15 490.92 Td (435) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.15 490.92 Td (317) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.65 490.92 Td (3,343) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 490.92 Td (2,557) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 462.75 Td (Drilling ) Tj ET Q q 0 0 0 rg BT 84.78 462.75 Td (Activity) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 438.75 Td (The ) Tj ET Q q 0 0 0 rg BT 85.30 438.75 Td (following ) Tj ET Q q 0 0 0 rg BT 126.45 438.75 Td (table ) Tj ET Q q 0 0 0 rg BT 148.14 438.75 Td (sets ) Tj ET Q q 0 0 0 rg BT 165.40 438.75 Td (forth ) Tj ET Q q 0 0 0 rg BT 187.09 438.75 Td (the ) Tj ET Q q 0 0 0 rg BT 201.57 438.75 Td (results ) Tj ET Q q 0 0 0 rg BT 229.93 438.75 Td (of ) Tj ET Q q 0 0 0 rg BT 240.52 438.75 Td (our ) Tj ET Q q 0 0 0 rg BT 256.11 438.75 Td (drilling ) Tj ET Q q 0 0 0 rg BT 287.81 438.75 Td (activities ) Tj ET Q q 0 0 0 rg BT 326.16 438.75 Td (over ) Tj ET Q q 0 0 0 rg BT 346.19 438.75 Td (the ) Tj ET Q q 0 0 0 rg BT 360.66 438.75 Td (last ) Tj ET Q q 0 0 0 rg BT 376.81 438.75 Td (three ) Tj ET Q q 0 0 0 rg BT 399.05 438.75 Td (years.��) Tj ET Q q 0 0 0 rg BT 427.10 438.75 Td (As ) Tj ET Q q 0 0 0 rg BT 440.47 438.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.06 438.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 509.40 438.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.40 438.75 Td (, ) Tj ET Q q 0 0 0 rg BT 534.15 438.75 Td (we ) Tj ET Q q 0 0 0 rg BT 548.07 438.75 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.75 Td (six ) Tj ET Q q 0 0 0 rg BT 63.67 426.75 Td (wells ) Tj ET Q q 0 0 0 rg BT 87.28 426.75 Td (in ) Tj ET Q q 0 0 0 rg BT 97.56 426.75 Td (progress.) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 377.25 156.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 206.00 377.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 262.00 377.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 266.00 377.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 322.00 377.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 326.00 377.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 377.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 386.00 377.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 442.00 377.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 446.00 377.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.00 377.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 506.00 377.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 347.25 156.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 206.00 347.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 262.00 347.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 266.00 347.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 322.00 347.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 326.00 347.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 347.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 386.00 347.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 442.00 347.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 446.00 347.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.00 347.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 506.00 347.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 317.25 156.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 206.00 317.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 262.00 317.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 266.00 317.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 322.00 317.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 326.00 317.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 317.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 386.00 317.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 442.00 317.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 446.00 317.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.00 317.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 506.00 317.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 287.25 156.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 206.00 287.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 262.00 287.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 266.00 287.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 322.00 287.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 326.00 287.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 287.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 386.00 287.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 442.00 287.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 446.00 287.25 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.00 287.25 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 506.00 287.25 56.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 403.25 m 262 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 403.25 m 266 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 403.25 m 322 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 322 403.25 m 326 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 403.25 m 382 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 403.25 m 386 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 403.25 m 442 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 442 403.25 m 446 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 403.25 m 502 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 403.25 m 506 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 403.25 m 562 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 403.25 m 262 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 390.25 m 262 390.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 262 390.25 m 266 390.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 390.25 m 322 390.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 403.25 m 382 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 390.25 m 382 390.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 390.25 m 386 390.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 390.25 m 442 390.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 403.25 m 502 403.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 390.25 m 502 390.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502 390.25 m 506 390.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 390.25 m 562 390.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 377.25 m 262 377.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 377.25 m 322 377.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 377.25 m 382 377.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 377.25 m 442 377.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 377.25 m 502 377.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 377.25 m 562 377.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 287.25 m 262 287.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 287.25 m 322 287.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 287.25 m 382 287.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 287.25 m 442 287.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 287.25 m 502 287.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 287.25 m 562 287.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 273.25 m 262 273.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 206 271.25 m 262 271.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 273.25 m 322 273.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266 271.25 m 322 271.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 273.25 m 382 273.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 326 271.25 m 382 271.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 273.25 m 442 273.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 386 271.25 m 442 271.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 273.25 m 502 273.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 446 271.25 m 502 271.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 273.25 m 562 273.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 506 271.25 m 562 271.25 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 407.50 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 341.45 407.50 Td (Y) Tj ET Q q 0 0 0 rg BT 346.83 407.50 Td (ear Ended December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 394.50 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 255.50 394.50 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 375.50 394.50 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.50 394.50 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.50 381.50 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 224.15 381.50 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.70 381.50 Td (Net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 344.15 381.50 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.70 381.50 Td (Net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.15 381.50 Td (Gross) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 527.70 381.50 Td (Net) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 366.93 Td (Exploratory wells) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 128.33 371.46 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.50 366.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.50 366.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.50 366.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.50 366.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.50 366.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.50 366.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 351.92 Td (Productive) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 107.83 356.45 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.15 351.92 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 351.92 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 351.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 351.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 351.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 351.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 336.92 Td (Non-productive) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 127.82 341.45 Td (\(3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 336.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.15 336.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 336.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 336.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 336.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 336.92 Td (�) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 321.93 Td (Development wells) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 132.21 326.46 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.50 321.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.50 321.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.50 321.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.50 321.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 498.50 321.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 321.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 306.92 Td (Productive) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 107.83 311.45 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 306.92 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.15 306.92 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 306.92 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 306.92 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 306.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 306.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 291.92 Td (Non-productive) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 127.82 296.45 Td (\(3\)\(4\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.15 291.92 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.15 291.92 Td (3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.15 291.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.15 291.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 291.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 291.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 276.92 Td (T) Tj ET Q q 0 0 0 rg BT 81.91 276.92 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.15 276.92 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.15 276.92 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 373.15 276.92 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.15 276.92 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.15 276.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 276.92 Td (�) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.75 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 248.75 Td (An ) Tj ET Q q 0 0 0 rg BT 81.99 248.75 Td (exploratory ) Tj ET Q q 0 0 0 rg BT 130.36 248.75 Td (well ) Tj ET Q q 0 0 0 rg BT 149.85 248.75 Td (is ) Tj ET Q q 0 0 0 rg BT 158.79 248.75 Td (a ) Tj ET Q q 0 0 0 rg BT 165.51 248.75 Td (well ) Tj ET Q q 0 0 0 rg BT 185.00 248.75 Td (drilled ) Tj ET Q q 0 0 0 rg BT 213.37 248.75 Td (to ) Tj ET Q q 0 0 0 rg BT 223.42 248.75 Td (find ) Tj ET Q q 0 0 0 rg BT 241.80 248.75 Td (a ) Tj ET Q q 0 0 0 rg BT 248.52 248.75 Td (new ) Tj ET Q q 0 0 0 rg BT 267.45 248.75 Td (field ) Tj ET Q q 0 0 0 rg BT 288.05 248.75 Td (or ) Tj ET Q q 0 0 0 rg BT 298.65 248.75 Td (to ) Tj ET Q q 0 0 0 rg BT 308.70 248.75 Td (find ) Tj ET Q q 0 0 0 rg BT 327.08 248.75 Td (a ) Tj ET Q q 0 0 0 rg BT 333.79 248.75 Td (new ) Tj ET Q q 0 0 0 rg BT 352.73 248.75 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 390.54 248.75 Td (in ) Tj ET Q q 0 0 0 rg BT 400.59 248.75 Td (a ) Tj ET Q q 0 0 0 rg BT 407.30 248.75 Td (field ) Tj ET Q q 0 0 0 rg BT 427.90 248.75 Td (previously ) Tj ET Q q 0 0 0 rg BT 472.39 248.75 Td (found ) Tj ET Q q 0 0 0 rg BT 497.99 248.75 Td (to ) Tj ET Q q 0 0 0 rg BT 508.04 248.75 Td (be ) Tj ET Q q 0 0 0 rg BT 519.75 248.75 Td (productive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 236.75 Td (of ) Tj ET Q q 0 0 0 rg BT 77.58 236.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 89.90 236.75 Td (or ) Tj ET Q q 0 0 0 rg BT 99.98 236.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 129.50 236.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 144.58 236.75 Td (in ) Tj ET Q q 0 0 0 rg BT 154.12 236.75 Td (another ) Tj ET Q q 0 0 0 rg BT 185.85 236.75 Td (reservoir) Tj ET Q q 0 0 0 rg BT 220.84 236.75 Td (.� ) Tj ET Q q 0 0 0 rg BT 227.59 236.75 Td (Generally) Tj ET Q q 0 0 0 rg BT 266.37 236.75 Td (, ) Tj ET Q q 0 0 0 rg BT 270.62 236.75 Td (an ) Tj ET Q q 0 0 0 rg BT 281.82 236.75 Td (exploratory ) Tj ET Q q 0 0 0 rg BT 329.66 236.75 Td (well ) Tj ET Q q 0 0 0 rg BT 348.64 236.75 Td (is ) Tj ET Q q 0 0 0 rg BT 357.06 236.75 Td (any ) Tj ET Q q 0 0 0 rg BT 373.25 236.75 Td (well ) Tj ET Q q 0 0 0 rg BT 392.22 236.75 Td (that ) Tj ET Q q 0 0 0 rg BT 408.97 236.75 Td (is ) Tj ET Q q 0 0 0 rg BT 417.40 236.75 Td (not ) Tj ET Q q 0 0 0 rg BT 431.93 236.75 Td (a ) Tj ET Q q 0 0 0 rg BT 438.12 236.75 Td (development ) Tj ET Q q 0 0 0 rg BT 491.53 236.75 Td (well, ) Tj ET Q q 0 0 0 rg BT 513.00 236.75 Td (an ) Tj ET Q q 0 0 0 rg BT 524.19 236.75 Td (extension ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 224.75 Td (well, ) Tj ET Q q 0 0 0 rg BT 89.92 224.75 Td (a ) Tj ET Q q 0 0 0 rg BT 97.07 224.75 Td (service ) Tj ET Q q 0 0 0 rg BT 128.09 224.75 Td (well ) Tj ET Q q 0 0 0 rg BT 148.01 224.75 Td (or ) Tj ET Q q 0 0 0 rg BT 159.04 224.75 Td (a ) Tj ET Q q 0 0 0 rg BT 166.19 224.75 Td (stratigraphic ) Tj ET Q q 0 0 0 rg BT 218.87 224.75 Td (test ) Tj ET Q q 0 0 0 rg BT 235.46 224.75 Td (well.� ) Tj ET Q q 0 0 0 rg BT 259.79 224.75 Td (A) Tj ET Q q 0 0 0 rg BT 266.46 224.75 Td ( ) Tj ET Q q 0 0 0 rg BT 269.16 224.75 Td (development ) Tj ET Q q 0 0 0 rg BT 323.52 224.75 Td (well ) Tj ET Q q 0 0 0 rg BT 343.44 224.75 Td (is ) Tj ET Q q 0 0 0 rg BT 352.82 224.75 Td (a ) Tj ET Q q 0 0 0 rg BT 359.96 224.75 Td (well ) Tj ET Q q 0 0 0 rg BT 379.88 224.75 Td (drilled ) Tj ET Q q 0 0 0 rg BT 408.69 224.75 Td (within ) Tj ET Q q 0 0 0 rg BT 436.95 224.75 Td (the ) Tj ET Q q 0 0 0 rg BT 451.87 224.75 Td (proved ) Tj ET Q q 0 0 0 rg BT 482.35 224.75 Td (area ) Tj ET Q q 0 0 0 rg BT 501.70 224.75 Td (of ) Tj ET Q q 0 0 0 rg BT 512.73 224.75 Td (an ) Tj ET Q q 0 0 0 rg BT 524.88 224.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 538.14 224.75 Td (or ) Tj ET Q q 0 0 0 rg BT 549.17 224.75 Td (gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 212.75 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 105.54 212.75 Td (to ) Tj ET Q q 0 0 0 rg BT 115.82 212.75 Td (the ) Tj ET Q q 0 0 0 rg BT 130.53 212.75 Td (depth ) Tj ET Q q 0 0 0 rg BT 155.25 212.75 Td (of ) Tj ET Q q 0 0 0 rg BT 166.08 212.75 Td (a ) Tj ET Q q 0 0 0 rg BT 173.02 212.75 Td (stratigraphic ) Tj ET Q q 0 0 0 rg BT 225.50 212.75 Td (horizon ) Tj ET Q q 0 0 0 rg BT 258.54 212.75 Td (known ) Tj ET Q q 0 0 0 rg BT 288.27 212.75 Td (to ) Tj ET Q q 0 0 0 rg BT 298.54 212.75 Td (be ) Tj ET Q q 0 0 0 rg BT 310.48 212.75 Td (productive.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.75 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 188.75 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 188.75 Td ( ) Tj ET Q q 0 0 0 rg BT 76.12 188.75 Td (productive ) Tj ET Q q 0 0 0 rg BT 120.83 188.75 Td (well ) Tj ET Q q 0 0 0 rg BT 139.99 188.75 Td (is ) Tj ET Q q 0 0 0 rg BT 148.61 188.75 Td (an ) Tj ET Q q 0 0 0 rg BT 160.00 188.75 Td (exploratory ) Tj ET Q q 0 0 0 rg BT 208.04 188.75 Td (or ) Tj ET Q q 0 0 0 rg BT 218.31 188.75 Td (development ) Tj ET Q q 0 0 0 rg BT 271.91 188.75 Td (well ) Tj ET Q q 0 0 0 rg BT 291.08 188.75 Td (found ) Tj ET Q q 0 0 0 rg BT 316.35 188.75 Td (to ) Tj ET Q q 0 0 0 rg BT 326.08 188.75 Td (be ) Tj ET Q q 0 0 0 rg BT 337.46 188.75 Td (capable ) Tj ET Q q 0 0 0 rg BT 369.94 188.75 Td (of ) Tj ET Q q 0 0 0 rg BT 380.22 188.75 Td (producing ) Tj ET Q q 0 0 0 rg BT 422.71 188.75 Td (either ) Tj ET Q q 0 0 0 rg BT 447.43 188.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 459.93 188.75 Td (or ) Tj ET Q q 0 0 0 rg BT 470.21 188.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 499.92 188.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 515.20 188.75 Td (in ) Tj ET Q q 0 0 0 rg BT 524.92 188.75 Td (suf) Tj ET Q q 0 0 0 rg BT 536.96 188.75 Td (ficient ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 176.75 Td (quantities ) Tj ET Q q 0 0 0 rg BT 108.88 176.75 Td (to ) Tj ET Q q 0 0 0 rg BT 119.16 176.75 Td (justify ) Tj ET Q q 0 0 0 rg BT 147.22 176.75 Td (completion ) Tj ET Q q 0 0 0 rg BT 194.71 176.75 Td (as ) Tj ET Q q 0 0 0 rg BT 205.54 176.75 Td (an ) Tj ET Q q 0 0 0 rg BT 217.48 176.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 230.53 176.75 Td (or ) Tj ET Q q 0 0 0 rg BT 241.36 176.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 271.63 176.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 287.46 176.75 Td (well.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.75 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 152.75 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 152.75 Td ( ) Tj ET Q q 0 0 0 rg BT 76.67 152.75 Td (non-productive ) Tj ET Q q 0 0 0 rg BT 140.26 152.75 Td (well ) Tj ET Q q 0 0 0 rg BT 159.98 152.75 Td (is ) Tj ET Q q 0 0 0 rg BT 169.15 152.75 Td (an ) Tj ET Q q 0 0 0 rg BT 181.09 152.75 Td (exploratory ) Tj ET Q q 0 0 0 rg BT 229.68 152.75 Td (or ) Tj ET Q q 0 0 0 rg BT 240.51 152.75 Td (development ) Tj ET Q q 0 0 0 rg BT 294.66 152.75 Td (well ) Tj ET Q q 0 0 0 rg BT 314.38 152.75 Td (that ) Tj ET Q q 0 0 0 rg BT 331.88 152.75 Td (is ) Tj ET Q q 0 0 0 rg BT 341.04 152.75 Td (not ) Tj ET Q q 0 0 0 rg BT 356.32 152.75 Td (a ) Tj ET Q q 0 0 0 rg BT 363.26 152.75 Td (productive ) Tj ET Q q 0 0 0 rg BT 408.53 152.75 Td (well.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.75 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 128.75 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.33 128.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.33 128.75 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.33 128.75 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.33 128.75 Td ( ) Tj ET Q q 0 0 0 rg BT 145.83 128.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.77 128.75 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.77 128.75 Td (, ) Tj ET Q q 0 0 0 rg BT 187.77 128.75 Td (an ) Tj ET Q q 0 0 0 rg BT 199.71 128.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 242.20 128.75 Td (4, ) Tj ET Q q 0 0 0 rg BT 252.20 128.75 Td (3 ) Tj ET Q q 0 0 0 rg BT 259.70 128.75 Td (and ) Tj ET Q q 0 0 0 rg BT 276.64 128.75 Td (1 ) Tj ET Q q 0 0 0 rg BT 284.14 128.75 Td (wells, ) Tj ET Q q 0 0 0 rg BT 310.24 128.75 Td (respectively) Tj ET Q q 0 0 0 rg BT 357.91 128.75 Td (, ) Tj ET Q q 0 0 0 rg BT 362.91 128.75 Td (were ) Tj ET Q q 0 0 0 rg BT 384.83 128.75 Td (drilled ) Tj ET Q q 0 0 0 rg BT 413.44 128.75 Td (for ) Tj ET Q q 0 0 0 rg BT 427.60 128.75 Td (water ) Tj ET Q q 0 0 0 rg BT 452.30 128.75 Td (or ) Tj ET Q q 0 0 0 rg BT 463.13 128.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 477.03 127.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.28 128.75 Td ( ) Tj ET Q q 0 0 0 rg BT 482.78 128.75 Td (injection ) Tj ET Q q 0 0 0 rg BT 520.27 128.75 Td (purposes.) 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10.00 Tf ET q 0 0 0 rg BT 499.50 410.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 410.77 Td (39.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 395.77 Td (Natural gas \(per Mcf\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 395.77 Td (2.01) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 395.77 Td (1.88) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 395.77 Td (1.90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 366.77 Td (T) Tj ET Q q 0 0 0 rg BT 64.26 366.77 Td (otal Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 366.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 366.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 366.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 351.77 Td (Oil \(per Bbl\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 351.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 351.77 Td (66.1) Tj ET Q q 0 0 0 rg BT 415.15 351.77 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 351.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 351.77 Td (50.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 351.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 351.77 Td (41.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 336.77 Td (Natural gas \(per Mcf\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 336.77 Td (2.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 336.77 Td (2.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 336.77 Td (1.98) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 306.78 Td (A) Tj ET Q q 0 0 0 rg BT 58.98 306.78 Td (verage pr) Tj ET Q q 0 0 0 rg BT 99.61 306.78 Td (oduction cost \(per) Tj ET Q q 0 0 0 rg BT 176.09 306.78 Td ( BOE sold\)) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 222.77 311.31 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 306.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 306.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 306.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 291.77 Td (Gulf Coast region) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 291.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 291.77 Td (22.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 291.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 291.77 Td (20.48) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 291.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 291.77 Td (18.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 58.50 276.77 Td (Rocky Mountain region) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 276.77 Td (22.27) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 276.77 Td (20.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 276.77 Td (16.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 261.77 Td (T) Tj ET Q q 0 0 0 rg BT 69.91 261.77 Td (otal Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 261.77 Td (22.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 261.77 Td (20.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 261.77 Td (17.71) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.60 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 233.60 Td (Excludes ) Tj ET Q q 0 0 0 rg BT 106.66 233.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 119.71 233.60 Td (and ) Tj ET Q q 0 0 0 rg BT 136.65 233.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 166.91 233.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 182.74 233.60 Td (ad ) Tj ET Q q 0 0 0 rg BT 194.68 233.60 Td (valorem ) Tj ET Q q 0 0 0 rg BT 229.95 233.60 Td (and ) Tj ET Q q 0 0 0 rg BT 246.88 233.60 Td (production ) Tj ET Q q 0 0 0 rg BT 292.71 233.60 Td (taxes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 209.60 Td (PRODUCTION ) Tj ET Q q 0 0 0 rg BT 119.78 209.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 143.95 209.60 Td (UNIT) Tj ET Q q 0 0 0 rg BT 168.77 209.60 Td ( ) Tj ET Q q 0 0 0 rg BT 171.27 209.60 Td (PRICES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 185.60 Td (Further ) Tj ET Q q 0 0 0 rg BT 99.64 185.60 Td (information ) Tj ET Q q 0 0 0 rg BT 149.55 185.60 Td (regarding ) Tj ET Q q 0 0 0 rg BT 190.56 185.60 Td (average ) Tj ET Q q 0 0 0 rg BT 224.35 185.60 Td (production ) Tj ET Q q 0 0 0 rg BT 270.37 185.60 Td (rates, ) Tj ET Q q 0 0 0 rg BT 294.45 185.60 Td (unit ) Tj ET Q q 0 0 0 rg BT 312.70 185.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 334.84 185.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 361.42 185.60 Td (and ) Tj ET Q q 0 0 0 rg BT 378.55 185.60 Td (unit ) Tj ET Q q 0 0 0 rg BT 396.81 185.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 419.51 185.60 Td (per ) Tj ET Q q 0 0 0 rg BT 434.98 185.60 Td (BOE ) Tj ET Q q 0 0 0 rg BT 457.68 185.60 Td (are ) Tj ET Q q 0 0 0 rg BT 472.58 185.60 Td (set ) Tj ET Q q 0 0 0 rg BT 486.39 185.60 Td (forth ) Tj ET Q q 0 0 0 rg BT 508.53 185.60 Td (under ) Tj ET Q q 0 0 0 rg BT 534.00 185.60 Td (Item ) Tj ET Q q 0 0 0 rg BT 555.02 185.60 Td (7, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 173.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 103.75 173.60 Td (s ) Tj ET Q q 0 0 0 rg BT 110.53 173.60 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 157.31 173.60 Td (and ) Tj ET Q q 0 0 0 rg BT 174.98 173.60 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 211.76 173.60 Td (of ) Tj ET Q q 0 0 0 rg BT 222.42 173.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 264.19 173.60 Td (Condition ) Tj ET Q q 0 0 0 rg BT 307.08 173.60 Td (and ) Tj ET Q q 0 0 0 rg BT 324.97 173.60 Td (Results ) Tj ET Q q 0 0 0 rg BT 356.75 173.60 Td (of ) Tj ET Q q 0 0 0 rg BT 367.41 173.60 Td (Operations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 412.41 173.60 Td ( ) Tj ET Q q 0 0 0 rg BT 415.30 173.60 Td (� ) Tj ET Q q 0 0 0 rg BT 423.19 173.60 Td (Results ) Tj ET Q q 0 0 0 rg BT 454.96 173.60 Td (of ) Tj ET Q q 0 0 0 rg BT 465.63 173.60 Td (Operations ) Tj ET Q q 0 0 0 rg BT 513.51 173.60 Td (� ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 521.40 173.60 Td (Operating ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 161.60 Td (Results ) Tj ET Q q 0 0 0 rg BT 80.89 161.60 Td (T) Tj ET Q q 0 0 0 rg BT 85.53 161.60 Td (able) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.75 161.60 Td (, ) Tj ET Q q 0 0 0 rg BT 107.75 161.60 Td (included ) Tj ET Q q 0 0 0 rg BT 144.68 161.60 Td (herein.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 137.60 Td (TITLE ) Tj ET Q q 0 0 0 rg BT 82.39 137.60 Td (T) Tj ET Q q 0 0 0 rg BT 88.88 137.60 Td (O ) Tj ET Q q 0 0 0 rg BT 99.16 137.60 Td (PROPER) Tj ET Q q 0 0 0 rg BT 139.92 137.60 Td (TIES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 113.60 Td (As ) Tj ET Q q 0 0 0 rg BT 80.89 113.60 Td (is ) Tj ET Q q 0 0 0 rg BT 89.83 113.60 Td (customary ) Tj ET Q q 0 0 0 rg BT 133.75 113.60 Td (in ) Tj ET Q q 0 0 0 rg BT 143.80 113.60 Td (the ) Tj ET Q q 0 0 0 rg BT 158.29 113.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 171.12 113.60 Td (and ) Tj ET Q q 0 0 0 rg BT 187.83 113.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 217.87 113.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 233.47 113.60 Td (industry) Tj ET Q q 0 0 0 rg BT 265.60 113.60 Td (, ) Tj ET Q q 0 0 0 rg BT 270.37 113.60 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 307.63 113.60 Td (conducts ) Tj ET Q q 0 0 0 rg BT 345.45 113.60 Td (a ) Tj ET Q q 0 0 0 rg BT 352.16 113.60 Td (limited ) Tj ET Q q 0 0 0 rg BT 382.76 113.60 Td (title ) Tj ET Q q 0 0 0 rg BT 400.59 113.60 Td (examination ) Tj ET Q q 0 0 0 rg BT 452.29 113.60 Td (at ) Tj ET Q q 0 0 0 rg BT 461.78 113.60 Td (the ) Tj ET Q q 0 0 0 rg BT 476.27 113.60 Td (time ) Tj ET Q q 0 0 0 rg BT 496.31 113.60 Td (of ) Tj ET Q q 0 0 0 rg BT 506.91 113.60 Td (its ) Tj ET Q q 0 0 0 rg BT 518.63 113.60 Td (acquisition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.60 Td (of ) Tj ET Q q 0 0 0 rg BT 59.28 101.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 100.71 101.60 Td (or ) Tj ET Q q 0 0 0 rg BT 110.49 101.60 Td (leasehold ) Tj ET Q q 0 0 0 rg BT 149.70 101.60 Td (interests ) Tj ET Q q 0 0 0 rg BT 184.47 101.60 Td (tar) Tj ET Q q 0 0 0 rg BT 194.84 101.60 Td (geted ) Tj ET Q q 0 0 0 rg BT 217.94 101.60 Td (for ) Tj ET Q q 0 0 0 rg BT 231.05 101.60 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 270.25 101.60 Td (recovery) Tj ET Q q 0 0 0 rg BT 304.58 101.60 Td (, ) Tj ET Q q 0 0 0 rg BT 308.53 101.60 Td (and ) Tj ET Q q 0 0 0 rg BT 324.41 101.60 Td (curative ) Tj ET Q q 0 0 0 rg BT 358.06 101.60 Td (work ) Tj ET Q q 0 0 0 rg BT 380.06 101.60 Td (is ) Tj ET Q q 0 0 0 rg BT 388.18 101.60 Td (performed ) Tj ET Q q 0 0 0 rg BT 431.27 101.60 Td (with ) Tj ET Q q 0 0 0 rg BT 450.50 101.60 Td (respect ) Tj ET Q q 0 0 0 rg BT 480.26 101.60 Td (to ) Tj ET Q q 0 0 0 rg BT 489.49 101.60 Td (significant�defects ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.60 Td (on ) Tj ET Q q 0 0 0 rg BT 62.86 89.60 Td (higher) Tj ET Q q 0 0 0 rg BT 88.20 89.60 Td (-value ) Tj ET Q q 0 0 0 rg BT 116.55 89.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 159.89 89.60 Td (of ) Tj ET Q q 0 0 0 rg BT 171.58 89.60 Td (the ) Tj ET Q q 0 0 0 rg BT 187.15 89.60 Td (greatest ) Tj ET Q q 0 0 0 rg BT 221.60 89.60 Td (significance. ) Tj ET Q q 0 0 0 rg BT 275.77 89.60 Td (�) Tj ET Q q 0 0 0 rg BT 278.09 89.60 Td (W) Tj ET Q q 0 0 0 rg BT 286.72 89.60 Td (e ) Tj ET Q q 0 0 0 rg BT 294.52 89.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 326.75 89.60 Td (that ) Tj ET Q q 0 0 0 rg BT 345.10 89.60 Td (title ) Tj ET Q q 0 0 0 rg BT 364.01 89.60 Td (to ) Tj ET Q q 0 0 0 rg BT 375.14 89.60 Td (our ) Tj ET Q q 0 0 0 rg BT 391.83 89.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 405.75 89.60 Td (and ) Tj ET Q q 0 0 0 rg BT 423.54 89.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 454.66 89.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 471.35 89.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 514.69 89.60 Td (is ) Tj ET Q q 0 0 0 rg BT 524.72 89.60 Td (good ) Tj ET Q q 0 0 0 rg BT 548.07 89.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.60 Td (defensible, ) Tj ET Q q 0 0 0 rg BT 95.80 77.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 126.84 77.60 Td (only ) Tj ET Q q 0 0 0 rg BT 147.33 77.60 Td (to ) Tj ET Q q 0 0 0 rg BT 157.82 77.60 Td (such ) Tj ET Q q 0 0 0 rg BT 178.86 77.60 Td (exceptions ) Tj ET Q q 0 0 0 rg BT 224.33 77.60 Td (that ) Tj ET Q q 0 0 0 rg BT 242.03 77.60 Td (we ) Tj ET Q q 0 0 0 rg BT 256.40 77.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 287.99 77.60 Td (do ) Tj ET Q q 0 0 0 rg BT 300.70 77.60 Td (not ) Tj ET Q q 0 0 0 rg BT 316.18 77.60 Td (materially ) Tj ET Q q 0 0 0 rg BT 359.43 77.60 Td (interfere ) Tj ET Q q 0 0 0 rg BT 396.00 77.60 Td (with ) Tj ET Q q 0 0 0 rg BT 416.49 77.60 Td (the ) Tj ET Q q 0 0 0 rg BT 431.42 77.60 Td (use ) Tj ET Q q 0 0 0 rg BT 447.46 77.60 Td (of ) Tj ET Q q 0 0 0 rg BT 458.50 77.60 Td (such ) Tj ET Q q 0 0 0 rg BT 479.54 77.60 Td (properties, ) Tj ET Q q 0 0 0 rg BT 524.73 77.60 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.60 Td (encumbrances, ) Tj ET Q q 0 0 0 rg BT 111.69 65.60 Td (easements, ) Tj ET Q q 0 0 0 rg BT 157.79 65.60 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 204.72 65.60 Td (and ) Tj ET Q q 0 0 0 rg BT 221.66 65.60 Td (royalty) Tj ET Q q 0 0 0 rg BT 249.33 65.60 Td (, ) Tj ET Q q 0 0 0 rg BT 254.33 65.60 Td (overriding�royalty ) Tj ET Q q 0 0 0 rg BT 329.31 65.60 Td (and ) Tj ET Q q 0 0 0 rg BT 346.25 65.60 Td (other ) Tj ET Q q 0 0 0 rg BT 369.30 65.60 Td (similar ) Tj ET Q q 0 0 0 rg BT 399.57 65.60 Td (interests.) Tj ET Q endstream endobj 43 0 obj <> endobj 44 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (21) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (SIGNIFICANT) Tj ET Q q 0 0 0 rg BT 116.00 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 118.50 714.60 Td (OIL) Tj ET Q q 0 0 0 rg BT 136.29 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 138.24 714.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 162.40 714.60 Td (GAS ) Tj ET Q q 0 0 0 rg BT 185.46 714.60 Td (PURCHASERS ) Tj ET Q q 0 0 0 rg BT 255.20 714.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 279.36 714.60 Td (PRODUCT) Tj ET Q q 0 0 0 rg BT 328.63 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 331.13 714.60 Td (MARKETING) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 690.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 82.97 690.60 Td (and ) Tj ET Q q 0 0 0 rg BT 100.11 690.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 130.56 690.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 146.59 690.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 168.72 690.60 Td (are ) Tj ET Q q 0 0 0 rg BT 183.62 690.60 Td (made ) Tj ET Q q 0 0 0 rg BT 207.97 690.60 Td (on ) Tj ET Q q 0 0 0 rg BT 220.67 690.60 Td (a ) Tj ET Q q 0 0 0 rg BT 227.80 690.60 Td (day-to-day ) Tj ET Q q 0 0 0 rg BT 273.81 690.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 296.50 690.60 Td (or ) Tj ET Q q 0 0 0 rg BT 307.53 690.60 Td (under ) Tj ET Q q 0 0 0 rg BT 332.99 690.60 Td (short-term ) Tj ET Q q 0 0 0 rg BT 377.34 690.60 Td (contracts ) Tj ET Q q 0 0 0 rg BT 416.13 690.60 Td (at ) Tj ET Q q 0 0 0 rg BT 426.04 690.60 Td (the ) Tj ET Q q 0 0 0 rg BT 440.95 690.60 Td (current ) Tj ET Q q 0 0 0 rg BT 471.96 690.60 Td (area ) Tj ET Q q 0 0 0 rg BT 491.30 690.60 Td (market ) Tj ET Q q 0 0 0 rg BT 521.76 690.60 Td (price. ) Tj ET Q q 0 0 0 rg BT 546.94 690.60 Td ( ) Tj ET Q q 0 0 0 rg BT 549.44 690.60 Td (W) Tj ET Q q 0 0 0 rg BT 558.07 690.60 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (would ) Tj ET Q q 0 0 0 rg BT 77.41 678.60 Td (not ) Tj ET Q q 0 0 0 rg BT 93.10 678.60 Td (expect ) Tj ET Q q 0 0 0 rg BT 122.10 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 137.23 678.60 Td (loss ) Tj ET Q q 0 0 0 rg BT 155.70 678.60 Td (of ) Tj ET Q q 0 0 0 rg BT 166.94 678.60 Td (any ) Tj ET Q q 0 0 0 rg BT 184.29 678.60 Td (single ) Tj ET Q q 0 0 0 rg BT 211.09 678.60 Td (purchaser ) Tj ET Q q 0 0 0 rg BT 252.86 678.60 Td (to ) Tj ET Q q 0 0 0 rg BT 263.55 678.60 Td (have ) Tj ET Q q 0 0 0 rg BT 285.34 678.60 Td (a ) Tj ET Q q 0 0 0 rg BT 292.69 678.60 Td (material ) Tj ET Q q 0 0 0 rg BT 328.36 678.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 361.80 678.60 Td (ef) Tj ET Q q 0 0 0 rg BT 369.39 678.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 387.29 678.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 410.20 678.60 Td (our ) Tj ET Q q 0 0 0 rg BT 426.44 678.60 Td (operations; ) Tj ET Q q 0 0 0 rg BT 473.78 678.60 Td (however) Tj ET Q q 0 0 0 rg BT 507.81 678.60 Td (, ) Tj ET Q q 0 0 0 rg BT 513.22 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 528.35 678.60 Td (loss ) Tj ET Q q 0 0 0 rg BT 546.82 678.60 Td (of ) Tj ET Q q 0 0 0 rg BT 558.06 678.60 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (lar) Tj ET Q q 0 0 0 rg BT 59.87 666.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 70.87 666.60 Td (single ) Tj ET Q q 0 0 0 rg BT 96.32 666.60 Td (purchaser ) Tj ET Q q 0 0 0 rg BT 136.75 666.60 Td (could ) Tj ET Q q 0 0 0 rg BT 160.54 666.60 Td (potentially ) Tj ET Q q 0 0 0 rg BT 204.87 666.60 Td (reduce ) Tj ET Q q 0 0 0 rg BT 233.08 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 246.86 666.60 Td (competition ) Tj ET Q q 0 0 0 rg BT 296.19 666.60 Td (for ) Tj ET Q q 0 0 0 rg BT 309.42 666.60 Td (our ) Tj ET Q q 0 0 0 rg BT 324.31 666.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 336.44 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 352.44 666.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 381.77 666.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 396.66 666.60 Td (production, ) Tj ET Q q 0 0 0 rg BT 444.05 666.60 Td (which ) Tj ET Q q 0 0 0 rg BT 470.06 666.60 Td (in ) Tj ET Q q 0 0 0 rg BT 479.40 666.60 Td (turn ) Tj ET Q q 0 0 0 rg BT 497.07 666.60 Td (could ) Tj ET Q q 0 0 0 rg BT 520.85 666.60 Td (negatively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 79.32 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 94.14 654.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 120.62 654.60 Td (we ) Tj ET Q q 0 0 0 rg BT 134.89 654.60 Td (receive.��For ) Tj ET Q q 0 0 0 rg BT 187.74 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 202.57 654.60 Td (year ) Tj ET Q q 0 0 0 rg BT 222.38 654.60 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.86 654.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 307.55 654.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.55 654.60 Td (, ) Tj ET Q q 0 0 0 rg BT 332.65 654.60 Td (two ) Tj ET Q q 0 0 0 rg BT 350.26 654.60 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 395.62 654.60 Td (accounted ) Tj ET Q q 0 0 0 rg BT 438.76 654.60 Td (for ) Tj ET Q q 0 0 0 rg BT 453.03 654.60 Td (10% ) Tj ET Q q 0 0 0 rg BT 473.96 654.60 Td (or ) Tj ET Q q 0 0 0 rg BT 484.90 654.60 Td (more ) Tj ET Q q 0 0 0 rg BT 508.05 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 518.98 654.60 Td (our ) Tj ET Q q 0 0 0 rg BT 534.92 654.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 548.08 654.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 80.04 642.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 96.14 642.60 Td (revenues: ) Tj ET Q q 0 0 0 rg BT 137.23 642.60 Td (Plains ) Tj ET Q q 0 0 0 rg BT 164.45 642.60 Td (Marketing ) Tj ET Q q 0 0 0 rg BT 208.88 642.60 Td (LP) Tj ET Q q 0 0 0 rg BT 220.17 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 222.95 642.60 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.28 642.60 Td (24%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.61 642.60 Td (\) ) Tj ET Q q 0 0 0 rg BT 250.71 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 267.92 642.60 Td (Hunt ) Tj ET Q q 0 0 0 rg BT 290.69 642.60 Td (Crude ) Tj ET Q q 0 0 0 rg BT 317.90 642.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 333.45 642.60 Td (Supply ) Tj ET Q q 0 0 0 rg BT 364.57 642.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 406.23 642.60 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.56 642.60 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.89 642.60 Td (\). ) Tj ET Q q 0 0 0 rg BT 436.49 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 439.26 642.60 Td (For ) Tj ET Q q 0 0 0 rg BT 455.92 642.60 Td (the ) Tj ET Q q 0 0 0 rg BT 470.91 642.60 Td (years ) Tj ET Q q 0 0 0 rg BT 494.79 642.60 Td (ended ) Tj ET Q q 0 0 0 rg BT 521.43 642.60 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.13 630.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.13 630.60 Td ( ) Tj ET Q q 0 0 0 rg BT 86.26 630.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.83 630.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.83 630.60 Td (, ) Tj ET Q q 0 0 0 rg BT 127.45 630.60 Td (two ) Tj ET Q q 0 0 0 rg BT 144.58 630.60 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 189.47 630.60 Td (accounted ) Tj ET Q q 0 0 0 rg BT 232.13 630.60 Td (for ) Tj ET Q q 0 0 0 rg BT 245.92 630.60 Td (10% ) Tj ET Q q 0 0 0 rg BT 266.38 630.60 Td (or ) Tj ET Q q 0 0 0 rg BT 276.84 630.60 Td (more ) Tj ET Q q 0 0 0 rg BT 299.51 630.60 Td (of ) Tj ET Q q 0 0 0 rg BT 309.97 630.60 Td (our ) Tj ET Q q 0 0 0 rg BT 325.43 630.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 338.12 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 354.69 630.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 384.58 630.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 400.04 630.60 Td (revenues: ) Tj ET Q q 0 0 0 rg BT 440.48 630.60 Td (Plains ) Tj ET Q q 0 0 0 rg BT 467.06 630.60 Td (Marketing ) Tj ET Q q 0 0 0 rg BT 510.84 630.60 Td (LP) Tj ET Q q 0 0 0 rg BT 522.14 630.60 Td ( ) Tj ET Q q 0 0 0 rg BT 524.27 630.60 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.60 630.60 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.93 630.60 Td ( ) Tj ET Q q 0 0 0 rg BT 548.06 630.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.83 618.60 Td ( ) Tj ET Q q 0 0 0 rg BT 70.33 618.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.61 618.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 100.61 618.60 Td ( ) Tj ET Q q 0 0 0 rg BT 103.11 618.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.05 618.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.05 618.60 Td (, ) Tj ET Q q 0 0 0 rg BT 145.05 618.60 Td (respectively\) ) Tj ET Q q 0 0 0 rg BT 199.19 618.60 Td (and ) Tj ET Q q 0 0 0 rg BT 216.13 618.60 Td (Marathon ) Tj ET Q q 0 0 0 rg BT 257.50 618.60 Td (Petroleum ) Tj ET Q q 0 0 0 rg BT 301.11 618.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 342.49 618.60 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.82 618.60 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.15 618.60 Td ( ) Tj ET Q q 0 0 0 rg BT 366.65 618.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.59 618.60 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.92 618.60 Td ( ) Tj ET Q q 0 0 0 rg BT 404.42 618.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.70 618.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.70 618.60 Td ( ) Tj ET Q q 0 0 0 rg BT 437.20 618.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.14 618.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.14 618.60 Td (, ) Tj ET Q q 0 0 0 rg BT 479.14 618.60 Td (respectively\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 594.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 86.61 594.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 115.72 594.60 Td (to ) Tj ET Q q 0 0 0 rg BT 127.06 594.60 Td (market ) Tj ET Q q 0 0 0 rg BT 158.38 594.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 172.50 594.60 Td (and ) Tj ET Q q 0 0 0 rg BT 190.50 594.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 221.82 594.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 238.71 594.60 Td (depends ) Tj ET Q q 0 0 0 rg BT 275.04 594.60 Td (on ) Tj ET Q q 0 0 0 rg BT 288.60 594.60 Td (many ) Tj ET Q q 0 0 0 rg BT 314.38 594.60 Td (factors ) Tj ET Q q 0 0 0 rg BT 345.14 594.60 Td (beyond ) Tj ET Q q 0 0 0 rg BT 378.14 594.60 Td (our ) Tj ET Q q 0 0 0 rg BT 395.03 594.60 Td (control, ) Tj ET Q q 0 0 0 rg BT 429.41 594.60 Td (including ) Tj ET Q q 0 0 0 rg BT 470.75 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 486.52 594.60 Td (extent ) Tj ET Q q 0 0 0 rg BT 514.52 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 526.41 594.60 Td (domestic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (production ) Tj ET Q q 0 0 0 rg BT 95.30 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 112.21 582.60 Td (imports ) Tj ET Q q 0 0 0 rg BT 145.25 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 156.05 582.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 169.08 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 186.00 582.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 216.24 582.60 Td (gas, ) Tj ET Q q 0 0 0 rg BT 234.54 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 249.24 582.60 Td (proximity ) Tj ET Q q 0 0 0 rg BT 291.16 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 301.96 582.60 Td (our ) Tj ET Q q 0 0 0 rg BT 317.77 582.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 330.80 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 347.71 582.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 377.95 582.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 393.76 582.60 Td (production ) Tj ET Q q 0 0 0 rg BT 439.56 582.60 Td (to ) Tj ET Q q 0 0 0 rg BT 449.81 582.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 488.39 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 505.31 582.60 Td (corresponding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (markets, ) Tj ET Q q 0 0 0 rg BT 85.83 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 100.23 570.60 Td (available ) Tj ET Q q 0 0 0 rg BT 138.49 570.60 Td (capacity ) Tj ET Q q 0 0 0 rg BT 173.98 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 183.93 570.60 Td (such ) Tj ET Q q 0 0 0 rg BT 204.44 570.60 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 245.22 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 259.61 570.60 Td (demand ) Tj ET Q q 0 0 0 rg BT 293.45 570.60 Td (for ) Tj ET Q q 0 0 0 rg BT 307.28 570.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 320.02 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 336.63 570.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 366.57 570.60 Td (gas, ) Tj ET Q q 0 0 0 rg BT 384.58 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 398.97 570.60 Td (ef) Tj ET Q q 0 0 0 rg BT 406.56 570.60 Td (fects ) Tj ET Q q 0 0 0 rg BT 427.61 570.60 Td (of ) Tj ET Q q 0 0 0 rg BT 438.12 570.60 Td (weather) Tj ET Q q 0 0 0 rg BT 469.37 570.60 Td (, ) Tj ET Q q 0 0 0 rg BT 474.04 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 490.66 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 505.05 570.60 Td (ef) Tj ET Q q 0 0 0 rg BT 512.64 570.60 Td (fects ) Tj ET Q q 0 0 0 rg BT 533.69 570.60 Td (of ) Tj ET Q q 0 0 0 rg BT 544.20 570.60 Td (state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.16 558.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 96.14 558.60 Td (regulation.��) Tj ET Q q 0 0 0 rg BT 143.63 558.60 Td (As ) Tj ET Q q 0 0 0 rg BT 156.97 558.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.52 558.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 225.83 558.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.83 558.60 Td (, ) Tj ET Q q 0 0 0 rg BT 250.55 558.60 Td (we ) Tj ET Q q 0 0 0 rg BT 264.44 558.60 Td (have ) Tj ET Q q 0 0 0 rg BT 285.54 558.60 Td (not ) Tj ET Q q 0 0 0 rg BT 300.54 558.60 Td (experienced ) Tj ET Q q 0 0 0 rg BT 351.07 558.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 395.50 558.60 Td (dif) Tj ET Q q 0 0 0 rg BT 406.43 558.60 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 434.76 558.60 Td (in ) Tj ET Q q 0 0 0 rg BT 444.76 558.60 Td (finding ) Tj ET Q q 0 0 0 rg BT 475.87 558.60 Td (a ) Tj ET Q q 0 0 0 rg BT 482.53 558.60 Td (market ) Tj ET Q q 0 0 0 rg BT 512.52 558.60 Td (for ) Tj ET Q q 0 0 0 rg BT 526.41 558.60 Td (all ) Tj ET Q q 0 0 0 rg BT 538.63 558.60 Td (of ) Tj ET Q q 0 0 0 rg BT 549.18 558.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (production ) Tj ET Q q 0 0 0 rg BT 95.13 546.60 Td (as ) Tj ET Q q 0 0 0 rg BT 105.76 546.60 Td (it ) Tj ET Q q 0 0 0 rg BT 113.62 546.60 Td (becomes ) Tj ET Q q 0 0 0 rg BT 150.91 546.60 Td (available ) Tj ET Q q 0 0 0 rg BT 189.30 546.60 Td (or ) Tj ET Q q 0 0 0 rg BT 199.93 546.60 Td (in ) Tj ET Q q 0 0 0 rg BT 210.01 546.60 Td (transporting ) Tj ET Q q 0 0 0 rg BT 260.64 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 276.27 546.60 Td (production ) Tj ET Q q 0 0 0 rg BT 321.90 546.60 Td (to ) Tj ET Q q 0 0 0 rg BT 331.98 546.60 Td (those ) Tj ET Q q 0 0 0 rg BT 355.39 546.60 Td (markets; ) Tj ET Q q 0 0 0 rg BT 392.12 546.60 Td (however) Tj ET Q q 0 0 0 rg BT 426.15 546.60 Td (, ) Tj ET Q q 0 0 0 rg BT 430.96 546.60 Td (there ) Tj ET Q q 0 0 0 rg BT 453.24 546.60 Td (is ) Tj ET Q q 0 0 0 rg BT 462.21 546.60 Td (no ) Tj ET Q q 0 0 0 rg BT 474.52 546.60 Td (assurance ) Tj ET Q q 0 0 0 rg BT 515.69 546.60 Td (that ) Tj ET Q q 0 0 0 rg BT 532.98 546.60 Td (we ) Tj ET Q q 0 0 0 rg BT 546.95 546.60 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (always ) Tj ET Q q 0 0 0 rg BT 79.77 534.60 Td (be ) Tj ET Q q 0 0 0 rg BT 91.71 534.60 Td (able ) Tj ET Q q 0 0 0 rg BT 110.86 534.60 Td (to ) Tj ET Q q 0 0 0 rg BT 121.14 534.60 Td (market ) Tj ET Q q 0 0 0 rg BT 151.40 534.60 Td (all ) Tj ET Q q 0 0 0 rg BT 163.90 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 174.73 534.60 Td (our ) Tj ET Q q 0 0 0 rg BT 190.56 534.60 Td (production ) Tj ET Q q 0 0 0 rg BT 236.38 534.60 Td (or ) Tj ET Q q 0 0 0 rg BT 247.21 534.60 Td (obtain ) Tj ET Q q 0 0 0 rg BT 274.71 534.60 Td (favorable ) Tj ET Q q 0 0 0 rg BT 314.96 534.60 Td (prices.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 65.33 510.60 Td (Marketing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 486.60 Td (Prices ) Tj ET Q q 0 0 0 rg BT 94.98 486.60 Td (received ) Tj ET Q q 0 0 0 rg BT 131.89 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 142.72 486.60 Td (a ) Tj ET Q q 0 0 0 rg BT 150.20 486.60 Td (regional ) Tj ET Q q 0 0 0 rg BT 186.01 486.60 Td (market ) Tj ET Q q 0 0 0 rg BT 216.82 486.60 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 254.85 486.60 Td (frequently ) Tj ET Q q 0 0 0 rg BT 298.99 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 316.47 486.60 Td (can ) Tj ET Q q 0 0 0 rg BT 333.39 486.60 Td (dif) Tj ET Q q 0 0 0 rg BT 344.32 486.60 Td (fer ) Tj ET Q q 0 0 0 rg BT 358.47 486.60 Td (from ) Tj ET Q q 0 0 0 rg BT 380.95 486.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 420.66 486.60 Td (pricing ) Tj ET Q q 0 0 0 rg BT 452.03 486.60 Td (due ) Tj ET Q q 0 0 0 rg BT 469.52 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 480.34 486.60 Td (a ) Tj ET Q q 0 0 0 rg BT 487.83 486.60 Td (variety ) Tj ET Q q 0 0 0 rg BT 518.63 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 530.01 486.60 Td (reasons, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (including ) Tj ET Q q 0 0 0 rg BT 89.69 474.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 118.78 474.60 Td (and/or ) Tj ET Q q 0 0 0 rg BT 146.74 474.60 Td (demand ) Tj ET Q q 0 0 0 rg BT 180.81 474.60 Td (factors, ) Tj ET Q q 0 0 0 rg BT 212.94 474.60 Td (crude ) Tj ET Q q 0 0 0 rg BT 237.56 474.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 250.54 474.60 Td (quality ) Tj ET Q q 0 0 0 rg BT 280.73 474.60 Td (and ) Tj ET Q q 0 0 0 rg BT 297.58 474.60 Td (location ) Tj ET Q q 0 0 0 rg BT 332.21 474.60 Td (dif) Tj ET Q q 0 0 0 rg BT 343.14 474.60 Td (ferentials. ) Tj ET Q q 0 0 0 rg BT 385.26 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 387.50 474.60 Td (The ) Tj ET Q q 0 0 0 rg BT 405.46 474.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 418.44 474.60 Td (dif) Tj ET Q q 0 0 0 rg BT 429.36 474.60 Td (ferentials ) Tj ET Q q 0 0 0 rg BT 468.98 474.60 Td (we ) Tj ET Q q 0 0 0 rg BT 483.06 474.60 Td (received ) Tj ET Q q 0 0 0 rg BT 519.34 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 529.54 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 544.17 474.60 Td (Gulf ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 74.78 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 91.72 462.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 120.33 462.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 161.71 462.60 Td (regions ) Tj ET Q q 0 0 0 rg BT 193.65 462.60 Td (are ) Tj ET Q q 0 0 0 rg BT 208.36 462.60 Td (discussed ) Tj ET Q q 0 0 0 rg BT 249.19 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 259.47 462.60 Td (further ) Tj ET Q q 0 0 0 rg BT 289.17 462.60 Td (detail ) Tj ET Q q 0 0 0 rg BT 313.88 462.60 Td (below) Tj ET Q q 0 0 0 rg BT 337.67 462.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 438.60 Td (Crude ) Tj ET Q q 0 0 0 rg BT 94.62 438.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 107.85 438.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 134.41 438.60 Td (in ) Tj ET Q q 0 0 0 rg BT 144.87 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 159.77 438.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 180.78 438.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 206.23 438.60 Td (region ) Tj ET Q q 0 0 0 rg BT 234.46 438.60 Td (are ) Tj ET Q q 0 0 0 rg BT 249.35 438.60 Td (impacted ) Tj ET Q q 0 0 0 rg BT 288.68 438.60 Td (significantly ) Tj ET Q q 0 0 0 rg BT 341.35 438.60 Td (by ) Tj ET Q q 0 0 0 rg BT 354.03 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 368.92 438.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 403.81 438.60 Td (in ) Tj ET Q q 0 0 0 rg BT 414.27 438.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 440.82 438.60 Td (received ) Tj ET Q q 0 0 0 rg BT 477.37 438.60 Td (for ) Tj ET Q q 0 0 0 rg BT 491.71 438.60 Td (our ) Tj ET Q q 0 0 0 rg BT 507.72 438.60 Td (crude ) Tj ET Q q 0 0 0 rg BT 532.60 438.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 545.84 438.60 Td (sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (under ) Tj ET Q q 0 0 0 rg BT 74.72 426.60 Td (Light ) Tj ET Q q 0 0 0 rg BT 98.83 426.60 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 140.72 426.60 Td (Sweet ) Tj ET Q q 0 0 0 rg BT 167.61 426.60 Td (\(�LLS�\) ) Tj ET Q q 0 0 0 rg BT 203.37 426.60 Td (index ) Tj ET Q q 0 0 0 rg BT 228.04 426.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 254.37 426.60 Td (relative ) Tj ET Q q 0 0 0 rg BT 286.80 426.60 Td (to ) Tj ET Q q 0 0 0 rg BT 297.03 426.60 Td (the ) Tj ET Q q 0 0 0 rg BT 311.69 426.60 Td (change ) Tj ET Q q 0 0 0 rg BT 342.46 426.60 Td (in ) Tj ET Q q 0 0 0 rg BT 352.69 426.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 391.80 426.60 Td (prices. ) Tj ET Q q 0 0 0 rg BT 420.63 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 423.08 426.60 Td (Overall, ) Tj ET Q q 0 0 0 rg BT 458.01 426.60 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.57 426.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.57 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 509.02 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 525.91 426.60 Td (2017, ) Tj ET Q q 0 0 0 rg BT 550.86 426.60 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (sold ) Tj ET Q q 0 0 0 rg BT 68.81 414.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.20 414.60 Td (60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.53 414.60 Td ( ) Tj ET Q q 0 0 0 rg BT 150.17 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 167.24 414.60 Td (65%, ) Tj ET Q q 0 0 0 rg BT 190.71 414.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 238.37 414.60 Td (, ) Tj ET Q q 0 0 0 rg BT 243.50 414.60 Td (of ) Tj ET Q q 0 0 0 rg BT 254.47 414.60 Td (our ) Tj ET Q q 0 0 0 rg BT 270.43 414.60 Td (crude ) Tj ET Q q 0 0 0 rg BT 295.28 414.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 308.47 414.60 Td (at ) Tj ET Q q 0 0 0 rg BT 318.32 414.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 344.83 414.60 Td (based ) Tj ET Q q 0 0 0 rg BT 370.24 414.60 Td (on, ) Tj ET Q q 0 0 0 rg BT 385.38 414.60 Td (or ) Tj ET Q q 0 0 0 rg BT 396.34 414.60 Td (partially ) Tj ET Q q 0 0 0 rg BT 432.30 414.60 Td (tied ) Tj ET Q q 0 0 0 rg BT 449.93 414.60 Td (to, ) Tj ET Q q 0 0 0 rg BT 462.84 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 477.69 414.60 Td (LLS ) Tj ET Q q 0 0 0 rg BT 498.11 414.60 Td (index ) Tj ET Q q 0 0 0 rg BT 522.96 414.60 Td (price, ) Tj ET Q q 0 0 0 rg BT 548.08 414.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 63.78 402.60 Td (balance ) Tj ET Q q 0 0 0 rg BT 96.38 402.60 Td (at ) Tj ET Q q 0 0 0 rg BT 105.65 402.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 131.59 402.60 Td (based ) Tj ET Q q 0 0 0 rg BT 156.43 402.60 Td (on ) Tj ET Q q 0 0 0 rg BT 168.49 402.60 Td (various ) Tj ET Q q 0 0 0 rg BT 199.99 402.60 Td (other ) Tj ET Q q 0 0 0 rg BT 222.60 402.60 Td (indexes ) Tj ET Q q 0 0 0 rg BT 255.21 402.60 Td (tied ) Tj ET Q q 0 0 0 rg BT 272.27 402.60 Td (to ) Tj ET Q q 0 0 0 rg BT 282.11 402.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 320.84 402.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 349.28 402.60 Td (primarily ) Tj ET Q q 0 0 0 rg BT 388.55 402.60 Td (in ) Tj ET Q q 0 0 0 rg BT 398.39 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 412.67 402.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 440.85 402.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 481.79 402.60 Td (region. ) Tj ET Q q 0 0 0 rg BT 511.90 402.60 Td ( ) Tj ET Q q 0 0 0 rg BT 513.82 402.60 Td (The ) Tj ET Q q 0 0 0 rg BT 531.43 402.60 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (LLS-to-NYMEX ) Tj ET Q q 0 0 0 rg BT 120.71 390.60 Td (trade-month ) Tj ET Q q 0 0 0 rg BT 171.91 390.60 Td (dif) Tj ET Q q 0 0 0 rg BT 182.84 390.60 Td (ferential ) Tj ET Q q 0 0 0 rg BT 218.48 390.60 Td (was ) Tj ET Q q 0 0 0 rg BT 236.36 390.60 Td (a ) Tj ET Q q 0 0 0 rg BT 243.12 390.60 Td (positive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.12 390.60 Td ($4.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.62 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 301.94 390.60 Td (per ) Tj ET Q q 0 0 0 rg BT 317.04 390.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 333.82 390.60 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.25 390.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.25 390.60 Td (, ) Tj ET Q q 0 0 0 rg BT 387.08 390.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 428.83 390.60 Td (to ) Tj ET Q q 0 0 0 rg BT 438.94 390.60 Td (a ) Tj ET Q q 0 0 0 rg BT 445.71 390.60 Td (positive ) Tj ET Q q 0 0 0 rg BT 479.70 390.60 Td ($2.85 ) Tj ET Q q 0 0 0 rg BT 504.53 390.60 Td (per ) Tj ET Q q 0 0 0 rg BT 519.63 390.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 536.40 390.60 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 378.60 Td ( ) Tj ET Q q 0 0 0 rg BT 72.26 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 89.47 378.60 Td (a ) Tj ET Q q 0 0 0 rg BT 96.67 378.60 Td (positive ) Tj ET Q q 0 0 0 rg BT 131.10 378.60 Td ($1.70 ) Tj ET Q q 0 0 0 rg BT 156.36 378.60 Td (per ) Tj ET Q q 0 0 0 rg BT 171.89 378.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 189.10 378.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 199.65 378.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.65 378.60 Td (. ) Tj ET Q q 0 0 0 rg BT 224.91 378.60 Td ( ) Tj ET Q q 0 0 0 rg BT 227.67 378.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 245.99 378.60 Td (average ) Tj ET Q q 0 0 0 rg BT 279.84 378.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 319.27 378.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 332.59 378.60 Td (dif) Tj ET Q q 0 0 0 rg BT 343.51 378.60 Td (ferential ) Tj ET Q q 0 0 0 rg BT 379.59 378.60 Td (in ) Tj ET Q q 0 0 0 rg BT 390.13 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 405.11 378.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 426.20 378.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 451.75 378.60 Td (region ) Tj ET Q q 0 0 0 rg BT 480.06 378.60 Td (was ) Tj ET Q q 0 0 0 rg BT 498.37 378.60 Td (a ) Tj ET Q q 0 0 0 rg BT 505.57 378.60 Td (positive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.00 378.60 Td ($2.94) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (per ) Tj ET Q q 0 0 0 rg BT 64.57 366.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 81.32 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 98.06 366.60 Td (a ) Tj ET Q q 0 0 0 rg BT 104.80 366.60 Td (positive ) Tj ET Q q 0 0 0 rg BT 138.77 366.60 Td ($0.22 ) Tj ET Q q 0 0 0 rg BT 163.57 366.60 Td (per ) Tj ET Q q 0 0 0 rg BT 178.64 366.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 195.39 366.60 Td (during ) Tj ET Q q 0 0 0 rg BT 223.80 366.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 246.10 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 262.84 366.60 Td (2017, ) Tj ET Q q 0 0 0 rg BT 287.64 366.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 335.30 366.60 Td (, ) Tj ET Q q 0 0 0 rg BT 340.10 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 356.84 366.60 Td ($1.42 ) Tj ET Q q 0 0 0 rg BT 381.64 366.60 Td (per ) Tj ET Q q 0 0 0 rg BT 396.71 366.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 413.46 366.60 Td (below ) Tj ET Q q 0 0 0 rg BT 440.20 366.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 479.17 366.60 Td (in ) Tj ET Q q 0 0 0 rg BT 489.25 366.60 Td (2016. ) Tj ET Q q 0 0 0 rg BT 514.05 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 516.35 366.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 534.20 366.60 Td (current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 83.59 354.60 Td (at ) Tj ET Q q 0 0 0 rg BT 93.23 354.60 Td (various ) Tj ET Q q 0 0 0 rg BT 125.10 354.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 146.97 354.60 Td (points ) Tj ET Q q 0 0 0 rg BT 173.85 354.60 Td (along ) Tj ET Q q 0 0 0 rg BT 198.50 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 213.15 354.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 233.91 354.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 259.12 354.60 Td (have ) Tj ET Q q 0 0 0 rg BT 280.42 354.60 Td (suf) Tj ET Q q 0 0 0 rg BT 292.46 354.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 320.44 354.60 Td (demand ) Tj ET Q q 0 0 0 rg BT 354.52 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 364.73 354.60 Td (accommodate ) Tj ET Q q 0 0 0 rg BT 422.69 354.60 Td (our ) Tj ET Q q 0 0 0 rg BT 438.45 354.60 Td (production, ) Tj ET Q q 0 0 0 rg BT 486.71 354.60 Td (but ) Tj ET Q q 0 0 0 rg BT 501.92 354.60 Td (there ) Tj ET Q q 0 0 0 rg BT 524.33 354.60 Td (can ) Tj ET Q q 0 0 0 rg BT 540.64 354.60 Td (be ) Tj ET Q q 0 0 0 rg BT 552.51 354.60 Td (no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (assurance ) Tj ET Q q 0 0 0 rg BT 90.72 342.60 Td (of ) Tj ET Q q 0 0 0 rg BT 101.40 342.60 Td (future ) Tj ET Q q 0 0 0 rg BT 127.63 342.60 Td (demand. ) Tj ET Q q 0 0 0 rg BT 164.14 342.60 Td ( ) Tj ET Q q 0 0 0 rg BT 166.33 342.60 Td (W) Tj ET Q q 0 0 0 rg BT 174.96 342.60 Td (e ) Tj ET Q q 0 0 0 rg BT 181.76 342.60 Td (are, ) Tj ET Q q 0 0 0 rg BT 198.82 342.60 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 239.75 342.60 Td (monitoring ) Tj ET Q q 0 0 0 rg BT 286.55 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 301.12 342.60 Td (marketplace ) Tj ET Q q 0 0 0 rg BT 352.33 342.60 Td (for ) Tj ET Q q 0 0 0 rg BT 366.35 342.60 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 421.47 342.60 Td (to ) Tj ET Q q 0 0 0 rg BT 431.61 342.60 Td (strategically ) Tj ET Q q 0 0 0 rg BT 482.83 342.60 Td (enter ) Tj ET Q q 0 0 0 rg BT 505.17 342.60 Td (into ) Tj ET Q q 0 0 0 rg BT 523.08 342.60 Td (long-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (marketing ) Tj ET Q q 0 0 0 rg BT 92.54 330.60 Td (arrangements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 306.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.24 306.60 Td (marketing ) Tj ET Q q 0 0 0 rg BT 127.98 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 138.51 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 154.03 306.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 182.34 306.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 223.42 306.60 Td (region ) Tj ET Q q 0 0 0 rg BT 251.17 306.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 263.92 306.60 Td (production ) Tj ET Q q 0 0 0 rg BT 309.44 306.60 Td (is ) Tj ET Q q 0 0 0 rg BT 318.31 306.60 Td (dependent ) Tj ET Q q 0 0 0 rg BT 361.60 306.60 Td (on ) Tj ET Q q 0 0 0 rg BT 373.79 306.60 Td (transportation ) Tj ET Q q 0 0 0 rg BT 431.53 306.60 Td (through ) Tj ET Q q 0 0 0 rg BT 464.83 306.60 Td (local ) Tj ET Q q 0 0 0 rg BT 486.46 306.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 524.76 306.60 Td (to ) Tj ET Q q 0 0 0 rg BT 534.74 306.60 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (centers ) Tj ET Q q 0 0 0 rg BT 80.13 294.60 Td (in ) Tj ET Q q 0 0 0 rg BT 90.22 294.60 Td (Guernsey) Tj ET Q q 0 0 0 rg BT 127.89 294.60 Td (, ) Tj ET Q q 0 0 0 rg BT 132.53 294.60 Td (W) Tj ET Q q 0 0 0 rg BT 141.37 294.60 Td (yoming; ) Tj ET Q q 0 0 0 rg BT 177.01 294.60 Td (Clearbrook, ) Tj ET Q q 0 0 0 rg BT 226.81 294.60 Td (Minnesota; ) Tj ET Q q 0 0 0 rg BT 273.95 294.60 Td (W) Tj ET Q q 0 0 0 rg BT 282.59 294.60 Td (ood ) Tj ET Q q 0 0 0 rg BT 299.90 294.60 Td (River) Tj ET Q q 0 0 0 rg BT 321.72 294.60 Td (, ) Tj ET Q q 0 0 0 rg BT 326.53 294.60 Td (Illinois; ) Tj ET Q q 0 0 0 rg BT 359.95 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 376.70 294.60 Td (most ) Tj ET Q q 0 0 0 rg BT 398.46 294.60 Td (recently ) Tj ET Q q 0 0 0 rg BT 432.97 294.60 Td (Cushing, ) Tj ET Q q 0 0 0 rg BT 471.12 294.60 Td (Oklahoma.��Shipments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (on ) Tj ET Q q 0 0 0 rg BT 62.98 282.60 Td (some ) Tj ET Q q 0 0 0 rg BT 87.57 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 99.38 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 115.07 282.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 154.65 282.60 Td (are ) Tj ET Q q 0 0 0 rg BT 170.34 282.60 Td (at ) Tj ET Q q 0 0 0 rg BT 181.04 282.60 Td (or ) Tj ET Q q 0 0 0 rg BT 192.84 282.60 Td (near ) Tj ET Q q 0 0 0 rg BT 213.53 282.60 Td (capacity ) Tj ET Q q 0 0 0 rg BT 250.32 282.60 Td (and ) Tj ET Q q 0 0 0 rg BT 268.24 282.60 Td (may ) Tj ET Q q 0 0 0 rg BT 288.93 282.60 Td (be ) Tj ET Q q 0 0 0 rg BT 301.85 282.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 333.66 282.60 Td (to ) Tj ET Q q 0 0 0 rg BT 344.91 282.60 Td (apportionment.��) Tj ET Q q 0 0 0 rg BT 410.55 282.60 Td (W) Tj ET Q q 0 0 0 rg BT 419.19 282.60 Td (e ) Tj ET Q q 0 0 0 rg BT 427.11 282.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 466.68 282.60 Td (have ) Tj ET Q q 0 0 0 rg BT 489.04 282.60 Td (access ) Tj ET Q q 0 0 0 rg BT 518.05 282.60 Td (to, ) Tj ET Q q 0 0 0 rg BT 531.81 282.60 Td (or ) Tj ET Q q 0 0 0 rg BT 543.62 282.60 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (contracted ) Tj ET Q q 0 0 0 rg BT 93.04 270.60 Td (for) Tj ET Q q 0 0 0 rg BT 104.30 270.60 Td (, ) Tj ET Q q 0 0 0 rg BT 108.71 270.60 Td (suf) Tj ET Q q 0 0 0 rg BT 120.75 270.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 148.20 270.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 182.31 270.60 Td (capacity ) Tj ET Q q 0 0 0 rg BT 217.53 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 227.21 270.60 Td (move ) Tj ET Q q 0 0 0 rg BT 251.33 270.60 Td (our ) Tj ET Q q 0 0 0 rg BT 266.57 270.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 279.03 270.60 Td (production; ) Tj ET Q q 0 0 0 rg BT 327.03 270.60 Td (however) Tj ET Q q 0 0 0 rg BT 361.06 270.60 Td (, ) Tj ET Q q 0 0 0 rg BT 365.47 270.60 Td (there ) Tj ET Q q 0 0 0 rg BT 387.36 270.60 Td (can ) Tj ET Q q 0 0 0 rg BT 403.14 270.60 Td (be ) Tj ET Q q 0 0 0 rg BT 414.48 270.60 Td (no ) Tj ET Q q 0 0 0 rg BT 426.38 270.60 Td (assurance ) Tj ET Q q 0 0 0 rg BT 467.16 270.60 Td (that ) Tj ET Q q 0 0 0 rg BT 484.06 270.60 Td (we ) Tj ET Q q 0 0 0 rg BT 497.62 270.60 Td (will ) Tj ET Q q 0 0 0 rg BT 515.08 270.60 Td (be ) Tj ET Q q 0 0 0 rg BT 526.42 270.60 Td (allocated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (suf) Tj ET Q q 0 0 0 rg BT 61.54 258.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 90.64 258.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 126.40 258.60 Td (capacity ) Tj ET Q q 0 0 0 rg BT 163.26 258.60 Td (to ) Tj ET Q q 0 0 0 rg BT 174.59 258.60 Td (move ) Tj ET Q q 0 0 0 rg BT 200.36 258.60 Td (all ) Tj ET Q q 0 0 0 rg BT 213.91 258.60 Td (of ) Tj ET Q q 0 0 0 rg BT 225.79 258.60 Td (our ) Tj ET Q q 0 0 0 rg BT 242.67 258.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 256.78 258.60 Td (production ) Tj ET Q q 0 0 0 rg BT 303.66 258.60 Td (in ) Tj ET Q q 0 0 0 rg BT 314.99 258.60 Td (the ) Tj ET Q q 0 0 0 rg BT 330.76 258.60 Td (future.��Because ) Tj ET Q q 0 0 0 rg BT 399.00 258.60 Td (local ) Tj ET Q q 0 0 0 rg BT 421.99 258.60 Td (demand ) Tj ET Q q 0 0 0 rg BT 457.20 258.60 Td (for ) Tj ET Q q 0 0 0 rg BT 472.41 258.60 Td (production ) Tj ET Q q 0 0 0 rg BT 519.29 258.60 Td (is ) Tj ET Q q 0 0 0 rg BT 529.51 258.60 Td (small ) Tj ET Q q 0 0 0 rg BT 554.73 258.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.60 Td (comparison ) Tj ET Q q 0 0 0 rg BT 98.63 246.60 Td (to ) Tj ET Q q 0 0 0 rg BT 108.88 246.60 Td (current ) Tj ET Q q 0 0 0 rg BT 139.67 246.60 Td (production ) Tj ET Q q 0 0 0 rg BT 185.46 246.60 Td (levels, ) Tj ET Q q 0 0 0 rg BT 213.76 246.60 Td (much ) Tj ET Q q 0 0 0 rg BT 238.45 246.60 Td (of ) Tj ET Q q 0 0 0 rg BT 249.25 246.60 Td (the ) Tj ET Q q 0 0 0 rg BT 263.94 246.60 Td (production ) Tj ET Q q 0 0 0 rg BT 309.74 246.60 Td (in ) Tj ET Q q 0 0 0 rg BT 319.99 246.60 Td (the ) Tj ET Q q 0 0 0 rg BT 334.68 246.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 363.26 246.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 404.62 246.60 Td (region ) Tj ET Q q 0 0 0 rg BT 432.64 246.60 Td (is ) Tj ET Q q 0 0 0 rg BT 441.78 246.60 Td (transported ) Tj ET Q q 0 0 0 rg BT 489.24 246.60 Td (to ) Tj ET Q q 0 0 0 rg BT 499.49 246.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 533.61 246.60 Td (outside ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (of ) Tj ET Q q 0 0 0 rg BT 60.73 234.60 Td (the ) Tj ET Q q 0 0 0 rg BT 75.84 234.60 Td (region. ) Tj ET Q q 0 0 0 rg BT 106.79 234.60 Td ( ) Tj ET Q q 0 0 0 rg BT 109.48 234.60 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 154.29 234.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 181.06 234.60 Td (in ) Tj ET Q q 0 0 0 rg BT 191.74 234.60 Td (the ) Tj ET Q q 0 0 0 rg BT 206.85 234.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 235.86 234.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 277.65 234.60 Td (region ) Tj ET Q q 0 0 0 rg BT 306.09 234.60 Td (are ) Tj ET Q q 0 0 0 rg BT 321.19 234.60 Td (further ) Tj ET Q q 0 0 0 rg BT 351.30 234.60 Td (influenced ) Tj ET Q q 0 0 0 rg BT 396.40 234.60 Td (by ) Tj ET Q q 0 0 0 rg BT 409.30 234.60 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 459.41 234.60 Td (in ) Tj ET Q q 0 0 0 rg BT 470.08 234.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 496.86 234.60 Td (\(primarily ) Tj ET Q q 0 0 0 rg BT 540.30 234.60 Td (Brent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 68.02 222.60 Td (LLS\) ) Tj ET Q q 0 0 0 rg BT 93.21 222.60 Td (in ) Tj ET Q q 0 0 0 rg BT 105.08 222.60 Td (coastal ) Tj ET Q q 0 0 0 rg BT 136.92 222.60 Td (markets ) Tj ET Q q 0 0 0 rg BT 172.66 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 191.18 222.60 Td (by ) Tj ET Q q 0 0 0 rg BT 205.27 222.60 Td (available ) Tj ET Q q 0 0 0 rg BT 245.44 222.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 281.73 222.60 Td (capacity ) Tj ET Q q 0 0 0 rg BT 319.13 222.60 Td (in ) Tj ET Q q 0 0 0 rg BT 330.99 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 347.29 222.60 Td (Midwest ) Tj ET Q q 0 0 0 rg BT 386.37 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 404.90 222.60 Td (Cushing ) Tj ET Q q 0 0 0 rg BT 442.32 222.60 Td (markets. ) Tj ET Q q 0 0 0 rg BT 480.56 222.60 Td (�For ) Tj ET Q q 0 0 0 rg BT 501.03 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 517.33 222.60 Td (year ) Tj ET Q q 0 0 0 rg BT 538.62 222.60 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 107.74 210.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.74 210.60 Td (, ) Tj ET Q q 0 0 0 rg BT 132.39 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 146.76 210.60 Td (discount ) Tj ET Q q 0 0 0 rg BT 182.80 210.60 Td (for ) Tj ET Q q 0 0 0 rg BT 196.61 210.60 Td (our ) Tj ET Q q 0 0 0 rg BT 212.10 210.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 224.81 210.60 Td (production ) Tj ET Q q 0 0 0 rg BT 270.29 210.60 Td (in ) Tj ET Q q 0 0 0 rg BT 280.22 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 294.59 210.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 322.85 210.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 363.89 210.60 Td (region ) Tj ET Q q 0 0 0 rg BT 391.59 210.60 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.83 210.60 Td ($1.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.33 210.60 Td ( ) Tj ET Q q 0 0 0 rg BT 454.48 210.60 Td (per ) Tj ET Q q 0 0 0 rg BT 469.40 210.60 Td (Bbl, ) Tj ET Q q 0 0 0 rg BT 488.50 210.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 530.08 210.60 Td (to ) Tj ET Q q 0 0 0 rg BT 540.01 210.60 Td ($1.39 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (per ) Tj ET Q q 0 0 0 rg BT 64.77 198.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 81.72 198.60 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.33 198.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.33 198.60 Td ( ) Tj ET Q q 0 0 0 rg BT 132.83 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 149.76 198.60 Td ($3.97 ) Tj ET Q q 0 0 0 rg BT 174.76 198.60 Td (per ) Tj ET Q q 0 0 0 rg BT 190.03 198.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 206.98 198.60 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 235.59 198.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.59 198.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (COMPETITION ) Tj ET Q q 0 0 0 rg BT 124.79 174.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 148.95 174.60 Td (MARKETS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 150.60 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 150.60 Td (e ) Tj ET Q q 0 0 0 rg BT 82.34 150.60 Td (face ) Tj ET Q q 0 0 0 rg BT 100.74 150.60 Td (competition ) Tj ET Q q 0 0 0 rg BT 150.27 150.60 Td (from ) Tj ET Q q 0 0 0 rg BT 171.47 150.60 Td (other ) Tj ET Q q 0 0 0 rg BT 193.78 150.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 206.09 150.60 Td (and ) Tj ET Q q 0 0 0 rg BT 222.29 150.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 251.82 150.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 266.91 150.60 Td (companies ) Tj ET Q q 0 0 0 rg BT 311.43 150.60 Td (in ) Tj ET Q q 0 0 0 rg BT 320.97 150.60 Td (all ) Tj ET Q q 0 0 0 rg BT 332.72 150.60 Td (aspects ) Tj ET Q q 0 0 0 rg BT 363.36 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 373.45 150.60 Td (our ) Tj ET Q q 0 0 0 rg BT 388.54 150.60 Td (business, ) Tj ET Q q 0 0 0 rg BT 426.69 150.60 Td (including ) Tj ET Q q 0 0 0 rg BT 466.23 150.60 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 511.87 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 521.96 150.60 Td (producing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (properties, ) Tj ET Q q 0 0 0 rg BT 94.33 138.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 107.24 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 124.02 138.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 139.70 138.60 Td (leases, ) Tj ET Q q 0 0 0 rg BT 168.43 138.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 200.22 138.60 Td (rights, ) Tj ET Q q 0 0 0 rg BT 227.84 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 244.63 138.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 258.52 137.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.77 138.60 Td ( ) Tj ET Q q 0 0 0 rg BT 264.12 138.60 Td (properties; ) Tj ET Q q 0 0 0 rg BT 309.23 138.60 Td (marketing ) Tj ET Q q 0 0 0 rg BT 352.12 138.60 Td (of ) Tj ET Q q 0 0 0 rg BT 362.80 138.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 375.70 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 392.49 138.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 422.60 138.60 Td (gas; ) Tj ET Q q 0 0 0 rg BT 441.05 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 457.84 138.60 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 497.96 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 514.75 138.60 Td (maintaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.60 Td (goods, ) Tj ET Q q 0 0 0 rg BT 77.90 126.60 Td (services ) Tj ET Q q 0 0 0 rg BT 112.12 126.60 Td (and ) Tj ET Q q 0 0 0 rg BT 128.56 126.60 Td (labor) Tj ET Q q 0 0 0 rg BT 148.56 126.60 Td (.��Many ) Tj ET Q q 0 0 0 rg BT 181.40 126.60 Td (of ) Tj ET Q q 0 0 0 rg BT 191.74 126.60 Td (our ) Tj ET Q q 0 0 0 rg BT 207.08 126.60 Td (competitors ) Tj ET Q q 0 0 0 rg BT 256.30 126.60 Td (have ) Tj ET Q q 0 0 0 rg BT 277.19 126.60 Td (substantially ) Tj ET Q q 0 0 0 rg BT 329.75 126.60 Td (lar) Tj ET Q q 0 0 0 rg BT 340.11 126.60 Td (ger ) Tj ET Q q 0 0 0 rg BT 354.89 126.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 391.88 126.60 Td (and ) Tj ET Q q 0 0 0 rg BT 408.33 126.60 Td (other ) Tj ET Q q 0 0 0 rg BT 430.88 126.60 Td (resources.��Factors ) Tj ET Q q 0 0 0 rg BT 507.59 126.60 Td (that ) Tj ET Q q 0 0 0 rg BT 524.60 126.60 Td (af) Tj ET Q q 0 0 0 rg BT 532.18 126.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 549.18 126.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 78.56 114.60 Td (to ) Tj ET Q q 0 0 0 rg BT 89.84 114.60 Td (acquire ) Tj ET Q q 0 0 0 rg BT 122.77 114.60 Td (producing ) Tj ET Q q 0 0 0 rg BT 166.82 114.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 210.32 114.60 Td (include ) Tj ET Q q 0 0 0 rg BT 243.25 114.60 Td (available ) Tj ET Q q 0 0 0 rg BT 282.85 114.60 Td (liquidity) Tj ET Q q 0 0 0 rg BT 316.09 114.60 Td (, ) Tj ET Q q 0 0 0 rg BT 322.10 114.60 Td (available ) Tj ET Q q 0 0 0 rg BT 361.69 114.60 Td (information ) Tj ET Q q 0 0 0 rg BT 412.41 114.60 Td (about ) Tj ET Q q 0 0 0 rg BT 438.13 114.60 Td (prospective ) Tj ET Q q 0 0 0 rg BT 487.73 114.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 531.22 114.60 Td (and ) Tj ET Q q 0 0 0 rg BT 549.17 114.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.60 Td (expectations ) Tj ET Q q 0 0 0 rg BT 102.20 102.60 Td (for ) Tj ET Q q 0 0 0 rg BT 116.58 102.60 Td (earning ) Tj ET Q q 0 0 0 rg BT 149.29 102.60 Td (a ) Tj ET Q q 0 0 0 rg BT 156.45 102.60 Td (minimum ) Tj ET Q q 0 0 0 rg BT 198.07 102.60 Td (projected ) Tj ET Q q 0 0 0 rg BT 237.99 102.60 Td (return ) Tj ET Q q 0 0 0 rg BT 264.59 102.60 Td (on ) Tj ET Q q 0 0 0 rg BT 277.31 102.60 Td (our ) Tj ET Q q 0 0 0 rg BT 293.36 102.60 Td (investments.��Because ) Tj ET Q q 0 0 0 rg BT 384.68 102.60 Td (of ) Tj ET Q q 0 0 0 rg BT 395.73 102.60 Td (the ) Tj ET Q q 0 0 0 rg BT 410.67 102.60 Td (primary ) Tj ET Q q 0 0 0 rg BT 445.04 102.60 Td (nature ) Tj ET Q q 0 0 0 rg BT 472.75 102.60 Td (of ) Tj ET Q q 0 0 0 rg BT 483.80 102.60 Td (our ) Tj ET Q q 0 0 0 rg BT 499.86 102.60 Td (core ) Tj ET Q q 0 0 0 rg BT 519.79 102.60 Td (assets ) Tj ET Q q 0 0 0 rg BT 545.84 102.60 Td (\(our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 81.24 90.60 Td (operations\) ) Tj ET Q q 0 0 0 rg BT 129.08 90.60 Td (and ) Tj ET Q q 0 0 0 rg BT 146.39 90.60 Td (our ) Tj ET Q q 0 0 0 rg BT 162.58 90.60 Td (ownership ) Tj ET Q q 0 0 0 rg BT 207.10 90.60 Td (of ) Tj ET Q q 0 0 0 rg BT 218.30 90.60 Td (relatively ) Tj ET Q q 0 0 0 rg BT 258.92 90.60 Td (uncommon ) Tj ET Q q 0 0 0 rg BT 306.78 90.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 351.86 90.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 382.48 90.60 Td (sources ) Tj ET Q q 0 0 0 rg BT 415.34 90.60 Td (of ) Tj ET Q q 0 0 0 rg BT 426.53 90.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 440.42 89.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.67 90.60 Td ( ) Tj ET Q q 0 0 0 rg BT 446.54 90.60 Td (in ) Tj ET Q q 0 0 0 rg BT 457.18 90.60 Td (the ) Tj ET Q q 0 0 0 rg BT 472.26 90.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 493.45 90.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 519.09 90.60 Td (and ) Tj ET Q q 0 0 0 rg BT 536.40 90.60 Td (Rocky ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 90.65 78.60 Td (regions, ) Tj ET Q q 0 0 0 rg BT 124.85 78.60 Td (we ) Tj ET Q q 0 0 0 rg BT 138.77 78.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 169.91 78.60 Td (that ) Tj ET Q q 0 0 0 rg BT 187.17 78.60 Td (we ) Tj ET Q q 0 0 0 rg BT 201.09 78.60 Td (are ) Tj ET Q q 0 0 0 rg BT 215.56 78.60 Td (ef) Tj ET Q q 0 0 0 rg BT 223.15 78.60 Td (fective ) Tj ET Q q 0 0 0 rg BT 252.62 78.60 Td (in ) Tj ET Q q 0 0 0 rg BT 262.66 78.60 Td (competing ) Tj ET Q q 0 0 0 rg BT 307.13 78.60 Td (in ) Tj ET Q q 0 0 0 rg BT 317.17 78.60 Td (the ) Tj ET Q q 0 0 0 rg BT 331.65 78.60 Td (market ) Tj ET Q q 0 0 0 rg BT 361.68 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 378.38 78.60 Td (have ) Tj ET Q q 0 0 0 rg BT 399.52 78.60 Td (less ) Tj ET Q q 0 0 0 rg BT 416.79 78.60 Td (competition ) Tj ET Q q 0 0 0 rg BT 466.82 78.60 Td (than ) Tj ET Q q 0 0 0 rg BT 486.30 78.60 Td (our ) Tj ET Q q 0 0 0 rg BT 501.89 78.60 Td (peers ) Tj ET Q q 0 0 0 rg BT 525.25 78.60 Td (in ) Tj ET Q q 0 0 0 rg BT 535.29 78.60 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.60 Td (aspects ) Tj ET Q q 0 0 0 rg BT 80.88 66.60 Td (of ) Tj ET Q q 0 0 0 rg BT 91.71 66.60 Td (our ) Tj ET Q q 0 0 0 rg BT 107.54 66.60 Td (business.) Tj ET Q endstream endobj 45 0 obj <> endobj 46 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 714.60 Td (The ) Tj ET Q q 0 0 0 rg BT 86.57 714.60 Td (demand ) Tj ET Q q 0 0 0 rg BT 121.75 714.60 Td (for ) Tj ET Q q 0 0 0 rg BT 136.93 714.60 Td (qualified ) Tj ET Q q 0 0 0 rg BT 175.99 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 193.95 714.60 Td (experienced ) Tj ET Q q 0 0 0 rg BT 245.78 714.60 Td (field ) Tj ET Q q 0 0 0 rg BT 267.62 714.60 Td (personnel ) Tj ET Q q 0 0 0 rg BT 310.02 714.60 Td (to ) Tj ET Q q 0 0 0 rg BT 321.32 714.60 Td (drill ) Tj ET Q q 0 0 0 rg BT 341.51 714.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 366.14 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 384.10 714.60 Td (conduct ) Tj ET Q q 0 0 0 rg BT 419.28 714.60 Td (field ) Tj ET Q q 0 0 0 rg BT 441.12 714.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 486.30 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 504.26 714.60 Td (for ) Tj ET Q q 0 0 0 rg BT 519.44 714.60 Td (geologists, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.60 Td (geophysicists, ) Tj ET Q q 0 0 0 rg BT 108.79 702.60 Td (engineers ) Tj ET Q q 0 0 0 rg BT 150.01 702.60 Td (and ) Tj ET Q q 0 0 0 rg BT 167.35 702.60 Td (other ) Tj ET Q q 0 0 0 rg BT 190.80 702.60 Td (professionals ) Tj ET Q q 0 0 0 rg BT 246.47 702.60 Td (in ) Tj ET Q q 0 0 0 rg BT 257.15 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 272.27 702.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 285.73 702.60 Td (and ) Tj ET Q q 0 0 0 rg BT 303.07 702.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 319.30 702.60 Td (industry ) Tj ET Q q 0 0 0 rg BT 354.99 702.60 Td (can ) Tj ET Q q 0 0 0 rg BT 371.77 702.60 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 409.65 702.60 Td (significantly) Tj ET Q q 0 0 0 rg BT 458.99 702.60 Td (, ) Tj ET Q q 0 0 0 rg BT 464.39 702.60 Td (often ) Tj ET Q q 0 0 0 rg BT 487.84 702.60 Td (in ) Tj ET Q q 0 0 0 rg BT 498.52 702.60 Td (correlation ) Tj ET Q q 0 0 0 rg BT 544.74 702.60 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.60 Td (commodity ) Tj ET Q q 0 0 0 rg BT 97.25 690.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 125.82 690.60 Td (causing ) Tj ET Q q 0 0 0 rg BT 158.56 690.60 Td (periodic ) Tj ET Q q 0 0 0 rg BT 193.51 690.60 Td (shortages ) Tj ET Q q 0 0 0 rg BT 233.48 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 243.45 690.60 Td (such ) Tj ET Q q 0 0 0 rg BT 263.97 690.60 Td (personnel.��Prior ) Tj ET Q q 0 0 0 rg BT 332.54 690.60 Td (to ) Tj ET Q q 0 0 0 rg BT 342.52 690.60 Td (the ) Tj ET Q q 0 0 0 rg BT 356.93 690.60 Td (downturn ) Tj ET Q q 0 0 0 rg BT 397.45 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 407.42 690.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 420.17 690.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 448.74 690.60 Td (the ) Tj ET Q q 0 0 0 rg BT 463.15 690.60 Td (competition ) Tj ET Q q 0 0 0 rg BT 513.12 690.60 Td (for ) Tj ET Q q 0 0 0 rg BT 526.97 690.60 Td (qualified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (technical ) Tj ET Q q 0 0 0 rg BT 87.81 678.60 Td (personnel ) Tj ET Q q 0 0 0 rg BT 128.91 678.60 Td (had ) Tj ET Q q 0 0 0 rg BT 145.57 678.60 Td (been ) Tj ET Q q 0 0 0 rg BT 166.67 678.60 Td (extensive, ) Tj ET Q q 0 0 0 rg BT 209.16 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 225.82 678.60 Td (our ) Tj ET Q q 0 0 0 rg BT 241.38 678.60 Td (personnel ) Tj ET Q q 0 0 0 rg BT 282.48 678.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 304.70 678.60 Td (escalated. ) Tj ET Q q 0 0 0 rg BT 346.06 678.60 Td ( ) Tj ET Q q 0 0 0 rg BT 348.13 678.60 Td (There ) Tj ET Q q 0 0 0 rg BT 373.66 678.60 Td (were ) Tj ET Q q 0 0 0 rg BT 395.32 678.60 Td (also ) Tj ET Q q 0 0 0 rg BT 413.65 678.60 Td (periods ) Tj ET Q q 0 0 0 rg BT 445.31 678.60 Td (with ) Tj ET Q q 0 0 0 rg BT 465.31 678.60 Td (shortages ) Tj ET Q q 0 0 0 rg BT 505.30 678.60 Td (of ) Tj ET Q q 0 0 0 rg BT 515.85 678.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 547.52 678.60 Td (rigs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.04 666.60 Td (other ) Tj ET Q q 0 0 0 rg BT 88.70 666.60 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 135.52 666.60 Td (as ) Tj ET Q q 0 0 0 rg BT 145.95 666.60 Td (demand ) Tj ET Q q 0 0 0 rg BT 179.71 666.60 Td (for ) Tj ET Q q 0 0 0 rg BT 193.48 666.60 Td (rigs ) Tj ET Q q 0 0 0 rg BT 210.58 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 227.13 666.60 Td (equipment ) Tj ET Q q 0 0 0 rg BT 271.45 666.60 Td (has ) Tj ET Q q 0 0 0 rg BT 286.88 666.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 326.74 666.60 Td (along ) Tj ET Q q 0 0 0 rg BT 351.07 666.60 Td (with ) Tj ET Q q 0 0 0 rg BT 370.95 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 385.27 666.60 Td (number ) Tj ET Q q 0 0 0 rg BT 417.93 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 428.36 666.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 451.58 666.60 Td (being ) Tj ET Q q 0 0 0 rg BT 475.90 666.60 Td (drilled.��) Tj ET Q q 0 0 0 rg BT 509.32 666.60 Td (These ) Tj ET Q q 0 0 0 rg BT 535.30 666.60 Td (factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (also ) Tj ET Q q 0 0 0 rg BT 68.57 654.60 Td (cause ) Tj ET Q q 0 0 0 rg BT 93.73 654.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 138.90 654.60 Td (increases ) Tj ET Q q 0 0 0 rg BT 178.50 654.60 Td (in ) Tj ET Q q 0 0 0 rg BT 189.24 654.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 212.20 654.60 Td (for ) Tj ET Q q 0 0 0 rg BT 226.82 654.60 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 274.49 654.60 Td (services ) Tj ET Q q 0 0 0 rg BT 309.65 654.60 Td (and ) Tj ET Q q 0 0 0 rg BT 327.05 654.60 Td (personnel.��) Tj ET Q q 0 0 0 rg BT 373.25 654.60 Td (W) Tj ET Q q 0 0 0 rg BT 381.88 654.60 Td (e ) Tj ET Q q 0 0 0 rg BT 389.28 654.60 Td (cannot ) Tj ET Q q 0 0 0 rg BT 418.89 654.60 Td (be ) Tj ET Q q 0 0 0 rg BT 431.29 654.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 461.45 654.60 Td (when ) Tj ET Q q 0 0 0 rg BT 486.07 654.60 Td (we ) Tj ET Q q 0 0 0 rg BT 500.69 654.60 Td (will ) Tj ET Q q 0 0 0 rg BT 519.20 654.60 Td (experience ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (these ) Tj ET Q q 0 0 0 rg BT 72.04 642.60 Td (issues, ) Tj ET Q q 0 0 0 rg BT 100.42 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 116.85 642.60 Td (these ) Tj ET Q q 0 0 0 rg BT 139.38 642.60 Td (types ) Tj ET Q q 0 0 0 rg BT 162.48 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 172.80 642.60 Td (shortages ) Tj ET Q q 0 0 0 rg BT 212.56 642.60 Td (or ) Tj ET Q q 0 0 0 rg BT 222.88 642.60 Td (price ) Tj ET Q q 0 0 0 rg BT 244.85 642.60 Td (increases ) Tj ET Q q 0 0 0 rg BT 283.49 642.60 Td (could ) Tj ET Q q 0 0 0 rg BT 307.70 642.60 Td (significantly ) Tj ET Q q 0 0 0 rg BT 359.68 642.60 Td (decrease ) Tj ET Q q 0 0 0 rg BT 396.08 642.60 Td (our ) Tj ET Q q 0 0 0 rg BT 411.40 642.60 Td (profit ) Tj ET Q q 0 0 0 rg BT 435.61 642.60 Td (mar) Tj ET Q q 0 0 0 rg BT 450.97 642.60 Td (gin, ) Tj ET Q q 0 0 0 rg BT 468.24 642.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 488.00 642.60 Td (flow ) Tj ET Q q 0 0 0 rg BT 508.32 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 524.75 642.60 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (results, ) Tj ET Q q 0 0 0 rg BT 80.61 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 97.55 630.60 Td (cause ) Tj ET Q q 0 0 0 rg BT 122.25 630.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 166.97 630.60 Td (delays ) Tj ET Q q 0 0 0 rg BT 195.01 630.60 Td (in ) Tj ET Q q 0 0 0 rg BT 205.29 630.60 Td (our ) Tj ET Q q 0 0 0 rg BT 221.12 630.60 Td (development ) Tj ET Q q 0 0 0 rg BT 275.27 630.60 Td (operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (FEDERAL) Tj ET Q q 0 0 0 rg BT 96.73 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 98.68 606.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 122.84 606.60 Td (ST) Tj ET Q q 0 0 0 rg BT 134.33 606.60 Td (A) Tj ET Q q 0 0 0 rg BT 140.81 606.60 Td (TE ) Tj ET Q q 0 0 0 rg BT 156.65 606.60 Td (REGULA) Tj ET Q q 0 0 0 rg BT 198.69 606.60 Td (TIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 582.60 Td (Numerous ) Tj ET Q q 0 0 0 rg BT 111.92 582.60 Td (federal, ) Tj ET Q q 0 0 0 rg BT 144.93 582.60 Td (state ) Tj ET Q q 0 0 0 rg BT 166.02 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 183.21 582.60 Td (local ) Tj ET Q q 0 0 0 rg BT 205.41 582.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 226.49 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 243.69 582.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 290.88 582.60 Td (govern ) Tj ET Q q 0 0 0 rg BT 321.41 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 336.39 582.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 349.70 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 366.90 582.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 382.99 582.60 Td (industry) Tj ET Q q 0 0 0 rg BT 415.12 582.60 Td (.��) Tj ET Q q 0 0 0 rg BT 422.07 582.60 Td (Additions ) Tj ET Q q 0 0 0 rg BT 464.27 582.60 Td (or ) Tj ET Q q 0 0 0 rg BT 475.36 582.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 510.33 582.60 Td (to ) Tj ET Q q 0 0 0 rg BT 520.86 582.60 Td (these ) Tj ET Q q 0 0 0 rg BT 544.17 582.60 Td (laws ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 67.40 570.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 115.30 570.60 Td (are ) Tj ET Q q 0 0 0 rg BT 130.96 570.60 Td (often ) Tj ET Q q 0 0 0 rg BT 154.97 570.60 Td (made ) Tj ET Q q 0 0 0 rg BT 180.09 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 191.33 570.60 Td (response ) Tj ET Q q 0 0 0 rg BT 229.78 570.60 Td (to ) Tj ET Q q 0 0 0 rg BT 241.02 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 256.70 570.60 Td (current ) Tj ET Q q 0 0 0 rg BT 288.48 570.60 Td (political ) Tj ET Q q 0 0 0 rg BT 324.71 570.60 Td (or ) Tj ET Q q 0 0 0 rg BT 336.50 570.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 378.84 570.60 Td (environment. ) Tj ET Q q 0 0 0 rg BT 435.34 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 438.80 570.60 Td (Compliance ) Tj ET Q q 0 0 0 rg BT 490.58 570.60 Td (with ) Tj ET Q q 0 0 0 rg BT 511.82 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 527.50 570.60 Td (evolving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 92.24 558.60 Td (landscape ) Tj ET Q q 0 0 0 rg BT 133.31 558.60 Td (is ) Tj ET Q q 0 0 0 rg BT 141.62 558.60 Td (often ) Tj ET Q q 0 0 0 rg BT 163.82 558.60 Td (dif) Tj ET Q q 0 0 0 rg BT 174.74 558.60 Td (ficult, ) Tj ET Q q 0 0 0 rg BT 199.99 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 216.08 558.60 Td (substantial ) Tj ET Q q 0 0 0 rg BT 260.50 558.60 Td (penalties ) Tj ET Q q 0 0 0 rg BT 297.68 558.60 Td (may ) Tj ET Q q 0 0 0 rg BT 316.55 558.60 Td (be ) Tj ET Q q 0 0 0 rg BT 327.63 558.60 Td (incurred ) Tj ET Q q 0 0 0 rg BT 362.59 558.60 Td (for ) Tj ET Q q 0 0 0 rg BT 375.90 558.60 Td (noncompliance. ) Tj ET Q q 0 0 0 rg BT 441.13 558.60 Td ( ) Tj ET Q q 0 0 0 rg BT 442.41 558.60 Td (Additionally) Tj ET Q q 0 0 0 rg BT 492.32 558.60 Td (, ) Tj ET Q q 0 0 0 rg BT 496.46 558.60 Td (the ) Tj ET Q q 0 0 0 rg BT 510.32 558.60 Td (future ) Tj ET Q q 0 0 0 rg BT 535.85 558.60 Td (annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 68.67 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 80.06 546.60 Td (complying ) Tj ET Q q 0 0 0 rg BT 125.89 546.60 Td (with ) Tj ET Q q 0 0 0 rg BT 146.73 546.60 Td (all ) Tj ET Q q 0 0 0 rg BT 159.78 546.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 181.17 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 198.67 546.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 246.16 546.60 Td (applicable ) Tj ET Q q 0 0 0 rg BT 290.31 546.60 Td (to ) Tj ET Q q 0 0 0 rg BT 301.15 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 317.53 546.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 362.25 546.60 Td (is ) Tj ET Q q 0 0 0 rg BT 371.98 546.60 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 412.24 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 429.74 546.60 Td (will ) Tj ET Q q 0 0 0 rg BT 448.35 546.60 Td (be ) Tj ET Q q 0 0 0 rg BT 460.85 546.60 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 504.46 546.60 Td (determined ) Tj ET Q q 0 0 0 rg BT 552.50 546.60 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (several ) Tj ET Q q 0 0 0 rg BT 80.36 534.60 Td (factors, ) Tj ET Q q 0 0 0 rg BT 112.62 534.60 Td (including ) Tj ET Q q 0 0 0 rg BT 152.94 534.60 Td (future ) Tj ET Q q 0 0 0 rg BT 179.36 534.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 214.11 534.60 Td (to ) Tj ET Q q 0 0 0 rg BT 224.44 534.60 Td (legal ) Tj ET Q q 0 0 0 rg BT 246.42 534.60 Td (and ) Tj ET Q q 0 0 0 rg BT 263.40 534.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 307.04 534.60 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 364.29 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 366.84 534.60 Td (Management ) Tj ET Q q 0 0 0 rg BT 421.58 534.60 Td (believes ) Tj ET Q q 0 0 0 rg BT 456.90 534.60 Td (that ) Tj ET Q q 0 0 0 rg BT 474.44 534.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 516.42 534.60 Td (compliance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (with ) Tj ET Q q 0 0 0 rg BT 69.37 522.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 103.12 522.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 123.54 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 140.07 522.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 186.59 522.60 Td (applicable ) Tj ET Q q 0 0 0 rg BT 229.77 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 239.64 522.60 Td (our ) Tj ET Q q 0 0 0 rg BT 255.06 522.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 298.81 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 315.33 522.60 Td (future ) Tj ET Q q 0 0 0 rg BT 341.30 522.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 389.48 522.60 Td (therewith ) Tj ET Q q 0 0 0 rg BT 429.33 522.60 Td (will ) Tj ET Q q 0 0 0 rg BT 446.98 522.60 Td (not ) Tj ET Q q 0 0 0 rg BT 461.85 522.60 Td (have ) Tj ET Q q 0 0 0 rg BT 482.82 522.60 Td (a ) Tj ET Q q 0 0 0 rg BT 489.34 522.60 Td (materially ) Tj ET Q q 0 0 0 rg BT 531.97 522.60 Td (adverse ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 510.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 73.54 510.60 Td (on ) Tj ET Q q 0 0 0 rg BT 85.01 510.60 Td (our ) Tj ET Q q 0 0 0 rg BT 99.80 510.60 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 151.81 510.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 188.26 510.60 Td (position, ) Tj ET Q q 0 0 0 rg BT 224.45 510.60 Td (results ) Tj ET Q q 0 0 0 rg BT 252.02 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 261.82 510.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 304.94 510.60 Td (or ) Tj ET Q q 0 0 0 rg BT 314.74 510.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 333.97 510.60 Td (flows, ) Tj ET Q q 0 0 0 rg BT 360.16 510.60 Td (although ) Tj ET Q q 0 0 0 rg BT 396.62 510.60 Td (such ) Tj ET Q q 0 0 0 rg BT 416.42 510.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 436.22 510.60 Td (and ) Tj ET Q q 0 0 0 rg BT 452.12 510.60 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 500.52 510.60 Td (and ) Tj ET Q q 0 0 0 rg BT 516.43 510.60 Td (compliance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (therewith, ) Tj ET Q q 0 0 0 rg BT 92.92 498.60 Td (could ) Tj ET Q q 0 0 0 rg BT 118.29 498.60 Td (cause ) Tj ET Q q 0 0 0 rg BT 143.65 498.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 189.02 498.60 Td (delays ) Tj ET Q q 0 0 0 rg BT 217.72 498.60 Td (or ) Tj ET Q q 0 0 0 rg BT 229.20 498.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 271.23 498.60 Td (impede ) Tj ET Q q 0 0 0 rg BT 303.82 498.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 351.13 498.60 Td (which ) Tj ET Q q 0 0 0 rg BT 378.72 498.60 Td (may) Tj ET Q q 0 0 0 rg BT 395.29 498.60 Td (, ) Tj ET Q q 0 0 0 rg BT 400.95 498.60 Td (among ) Tj ET Q q 0 0 0 rg BT 431.32 498.60 Td (other ) Tj ET Q q 0 0 0 rg BT 455.02 498.60 Td (things, ) Tj ET Q q 0 0 0 rg BT 485.12 498.60 Td (cause ) Tj ET Q q 0 0 0 rg BT 510.48 498.60 Td (our ) Tj ET Q q 0 0 0 rg BT 526.97 498.60 Td (expected ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (production ) Tj ET Q q 0 0 0 rg BT 95.33 486.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 116.70 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 133.64 486.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 153.91 486.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 178.63 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 188.91 486.60 Td (be ) Tj ET Q q 0 0 0 rg BT 200.85 486.60 Td (less ) Tj ET Q q 0 0 0 rg BT 218.35 486.60 Td (than ) Tj ET Q q 0 0 0 rg BT 238.06 486.60 Td (anticipated.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 462.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.45 462.60 Td (following ) Tj ET Q q 0 0 0 rg BT 126.74 462.60 Td (sections ) Tj ET Q q 0 0 0 rg BT 161.36 462.60 Td (describe ) Tj ET Q q 0 0 0 rg BT 197.08 462.60 Td (some ) Tj ET Q q 0 0 0 rg BT 220.60 462.60 Td (specific ) Tj ET Q q 0 0 0 rg BT 254.10 462.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 274.83 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 291.67 462.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 338.51 462.60 Td (that ) Tj ET Q q 0 0 0 rg BT 355.91 462.60 Td (may ) Tj ET Q q 0 0 0 rg BT 375.53 462.60 Td (af) Tj ET Q q 0 0 0 rg BT 383.12 462.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 400.51 462.60 Td (us.��) Tj ET Q q 0 0 0 rg BT 416.72 462.60 Td (W) Tj ET Q q 0 0 0 rg BT 425.36 462.60 Td (e ) Tj ET Q q 0 0 0 rg BT 432.20 462.60 Td (cannot ) Tj ET Q q 0 0 0 rg BT 461.26 462.60 Td (predict ) Tj ET Q q 0 0 0 rg BT 491.43 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 506.05 462.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 524.57 462.60 Td (or ) Tj ET Q q 0 0 0 rg BT 535.30 462.60 Td (impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 450.60 Td (these ) Tj ET Q q 0 0 0 rg BT 83.38 450.60 Td (or ) Tj ET Q q 0 0 0 rg BT 94.21 450.60 Td (other ) Tj ET Q q 0 0 0 rg BT 117.25 450.60 Td (future ) Tj ET Q q 0 0 0 rg BT 143.63 450.60 Td (legislative ) Tj ET Q q 0 0 0 rg BT 187.23 450.60 Td (or ) Tj ET Q q 0 0 0 rg BT 198.06 450.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 241.65 450.60 Td (initiatives.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 98.67 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 109.50 426.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 125.33 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 143.96 426.60 Td (Gas ) Tj ET Q q 0 0 0 rg BT 163.13 426.60 Td (Exploration ) Tj ET Q q 0 0 0 rg BT 216.75 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 235.37 426.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 245.74 426.60 Td (oduction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 84.54 402.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 127.69 402.60 Td (are ) Tj ET Q q 0 0 0 rg BT 141.39 402.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 171.20 402.60 Td (to ) Tj ET Q q 0 0 0 rg BT 180.47 402.60 Td (various ) Tj ET Q q 0 0 0 rg BT 211.40 402.60 Td (types ) Tj ET Q q 0 0 0 rg BT 234.00 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 243.82 402.60 Td (regulation ) Tj ET Q q 0 0 0 rg BT 285.85 402.60 Td (at ) Tj ET Q q 0 0 0 rg BT 294.56 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 308.27 402.60 Td (federal, ) Tj ET Q q 0 0 0 rg BT 340.01 402.60 Td (state ) Tj ET Q q 0 0 0 rg BT 359.83 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 375.76 402.60 Td (local ) Tj ET Q q 0 0 0 rg BT 396.68 402.60 Td (levels.��Such ) Tj ET Q q 0 0 0 rg BT 449.00 402.60 Td (regulation ) Tj ET Q q 0 0 0 rg BT 491.03 402.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 525.85 402.60 Td (requiring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (permits ) Tj ET Q q 0 0 0 rg BT 81.68 390.60 Td (for ) Tj ET Q q 0 0 0 rg BT 95.52 390.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 127.15 390.60 Td (wells; ) Tj ET Q q 0 0 0 rg BT 153.22 390.60 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 203.17 390.60 Td (bonding ) Tj ET Q q 0 0 0 rg BT 238.13 390.60 Td (requirements ) Tj ET Q q 0 0 0 rg BT 292.51 390.60 Td (in ) Tj ET Q q 0 0 0 rg BT 302.47 390.60 Td (order ) Tj ET Q q 0 0 0 rg BT 325.75 390.60 Td (to ) Tj ET Q q 0 0 0 rg BT 335.72 390.60 Td (drill ) Tj ET Q q 0 0 0 rg BT 354.56 390.60 Td (or ) Tj ET Q q 0 0 0 rg BT 365.08 390.60 Td (operate ) Tj ET Q q 0 0 0 rg BT 396.68 390.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 419.97 390.60 Td (and ) Tj ET Q q 0 0 0 rg BT 436.59 390.60 Td (regulating ) Tj ET Q q 0 0 0 rg BT 479.32 390.60 Td (the ) Tj ET Q q 0 0 0 rg BT 493.72 390.60 Td (location ) Tj ET Q q 0 0 0 rg BT 528.11 390.60 Td (of ) Tj ET Q q 0 0 0 rg BT 538.63 390.60 Td (wells; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.46 378.60 Td (method ) Tj ET Q q 0 0 0 rg BT 97.19 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 108.26 378.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 140.45 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 157.63 378.60 Td (casing ) Tj ET Q q 0 0 0 rg BT 185.92 378.60 Td (wells; ) Tj ET Q q 0 0 0 rg BT 212.54 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 227.50 378.60 Td (surface ) Tj ET Q q 0 0 0 rg BT 259.11 378.60 Td (use ) Tj ET Q q 0 0 0 rg BT 275.18 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 292.36 378.60 Td (restoration ) Tj ET Q q 0 0 0 rg BT 337.86 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 348.93 378.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 391.66 378.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 414.40 378.60 Td (which ) Tj ET Q q 0 0 0 rg BT 441.58 378.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 465.43 378.60 Td (are ) Tj ET Q q 0 0 0 rg BT 480.38 378.60 Td (drilled; ) Tj ET Q q 0 0 0 rg BT 512.00 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 526.96 378.60 Td (plugging ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 65.21 366.60 Td (abandoning ) Tj ET Q q 0 0 0 rg BT 113.13 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 122.73 366.60 Td (wells; ) Tj ET Q q 0 0 0 rg BT 147.88 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 163.59 366.60 Td (the ) Tj ET Q q 0 0 0 rg BT 177.08 366.60 Td (composition ) Tj ET Q q 0 0 0 rg BT 227.79 366.60 Td (or ) Tj ET Q q 0 0 0 rg BT 237.39 366.60 Td (disposal ) Tj ET Q q 0 0 0 rg BT 271.43 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 281.03 366.60 Td (chemicals ) Tj ET Q q 0 0 0 rg BT 322.28 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 337.99 366.60 Td (fluids ) Tj ET Q q 0 0 0 rg BT 362.04 366.60 Td (used ) Tj ET Q q 0 0 0 rg BT 381.63 366.60 Td (in ) Tj ET Q q 0 0 0 rg BT 390.68 366.60 Td (connection ) Tj ET Q q 0 0 0 rg BT 435.82 366.60 Td (with ) Tj ET Q q 0 0 0 rg BT 454.87 366.60 Td (operations.��Our ) Tj ET Q q 0 0 0 rg BT 520.84 366.60 Td (operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (are ) Tj ET Q q 0 0 0 rg BT 63.81 354.60 Td (also ) Tj ET Q q 0 0 0 rg BT 82.01 354.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 112.44 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 122.31 354.60 Td (various ) Tj ET Q q 0 0 0 rg BT 153.85 354.60 Td (conservation ) Tj ET Q q 0 0 0 rg BT 207.04 354.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 227.47 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 244.01 354.60 Td (regulations.��) Tj ET Q q 0 0 0 rg BT 295.76 354.60 Td (These ) Tj ET Q q 0 0 0 rg BT 321.74 354.60 Td (include ) Tj ET Q q 0 0 0 rg BT 353.27 354.60 Td (regulation ) Tj ET Q q 0 0 0 rg BT 395.91 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 406.34 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 420.65 354.60 Td (size ) Tj ET Q q 0 0 0 rg BT 438.30 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 448.73 354.60 Td (drilling, ) Tj ET Q q 0 0 0 rg BT 482.77 354.60 Td (spacing ) Tj ET Q q 0 0 0 rg BT 515.42 354.60 Td (or ) Tj ET Q q 0 0 0 rg BT 525.84 354.60 Td (proration ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (units ) Tj ET Q q 0 0 0 rg BT 70.86 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 87.21 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 101.34 342.60 Td (density ) Tj ET Q q 0 0 0 rg BT 132.13 342.60 Td (of ) Tj ET Q q 0 0 0 rg BT 142.37 342.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 165.39 342.60 Td (that ) Tj ET Q q 0 0 0 rg BT 182.30 342.60 Td (may ) Tj ET Q q 0 0 0 rg BT 201.43 342.60 Td (be ) Tj ET Q q 0 0 0 rg BT 212.77 342.60 Td (drilled ) Tj ET Q q 0 0 0 rg BT 240.79 342.60 Td (in ) Tj ET Q q 0 0 0 rg BT 250.48 342.60 Td (those ) Tj ET Q q 0 0 0 rg BT 273.50 342.60 Td (units, ) Tj ET Q q 0 0 0 rg BT 297.36 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 313.71 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 327.83 342.60 Td (unitization ) Tj ET Q q 0 0 0 rg BT 372.51 342.60 Td (or ) Tj ET Q q 0 0 0 rg BT 382.75 342.60 Td (pooling ) Tj ET Q q 0 0 0 rg BT 415.22 342.60 Td (of ) Tj ET Q q 0 0 0 rg BT 425.46 342.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 437.93 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 454.28 342.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 469.52 342.60 Td (properties.��In ) Tj ET Q q 0 0 0 rg BT 527.24 342.60 Td (addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 80.11 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 97.41 330.60 Td (state ) Tj ET Q q 0 0 0 rg BT 118.60 330.60 Td (conservation ) Tj ET Q q 0 0 0 rg BT 172.55 330.60 Td (laws, ) Tj ET Q q 0 0 0 rg BT 196.24 330.60 Td (which ) Tj ET Q q 0 0 0 rg BT 223.54 330.60 Td (establish ) Tj ET Q q 0 0 0 rg BT 261.40 330.60 Td (maximum ) Tj ET Q q 0 0 0 rg BT 304.81 330.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 326.55 330.60 Td (of ) Tj ET Q q 0 0 0 rg BT 337.74 330.60 Td (production ) Tj ET Q q 0 0 0 rg BT 383.92 330.60 Td (from ) Tj ET Q q 0 0 0 rg BT 406.22 330.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 419.64 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 436.94 330.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 453.13 330.60 Td (wells, ) Tj ET Q q 0 0 0 rg BT 479.60 330.60 Td (generally ) Tj ET Q q 0 0 0 rg BT 519.66 330.60 Td (prohibit ) Tj ET Q q 0 0 0 rg BT 554.18 330.60 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.60 Td (restrict ) Tj ET Q q 0 0 0 rg BT 79.70 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 94.35 318.60 Td (venting ) Tj ET Q q 0 0 0 rg BT 126.78 318.60 Td (or ) Tj ET Q q 0 0 0 rg BT 137.55 318.60 Td (flaring ) Tj ET Q q 0 0 0 rg BT 166.64 318.60 Td (of ) Tj ET Q q 0 0 0 rg BT 177.40 318.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 207.60 318.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 223.37 318.60 Td (and ) Tj ET Q q 0 0 0 rg BT 240.24 318.60 Td (impose ) Tj ET Q q 0 0 0 rg BT 271.57 318.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 301.20 318.60 Td (requirements ) Tj ET Q q 0 0 0 rg BT 355.84 318.60 Td (regarding ) Tj ET Q q 0 0 0 rg BT 396.59 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 411.24 318.60 Td (ratability ) Tj ET Q q 0 0 0 rg BT 449.78 318.60 Td (of ) Tj ET Q q 0 0 0 rg BT 460.54 318.60 Td (production.��) Tj ET Q q 0 0 0 rg BT 511.19 318.60 Td (The ) Tj ET Q q 0 0 0 rg BT 529.17 318.60 Td (ef) Tj ET Q q 0 0 0 rg BT 536.76 318.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 554.18 318.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (these ) Tj ET Q q 0 0 0 rg BT 72.55 306.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 93.38 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 110.33 306.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 157.26 306.60 Td (may ) Tj ET Q q 0 0 0 rg BT 176.99 306.60 Td (limit ) Tj ET Q q 0 0 0 rg BT 198.38 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 213.10 306.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 245.60 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 256.43 306.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 269.50 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 286.44 306.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 316.71 306.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 332.54 306.60 Td (we ) Tj ET Q q 0 0 0 rg BT 346.70 306.60 Td (can ) Tj ET Q q 0 0 0 rg BT 363.08 306.60 Td (produce ) Tj ET Q q 0 0 0 rg BT 397.79 306.60 Td (from ) Tj ET Q q 0 0 0 rg BT 419.74 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 435.57 306.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 459.18 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 476.13 306.60 Td (may ) Tj ET Q q 0 0 0 rg BT 495.85 306.60 Td (limit ) Tj ET Q q 0 0 0 rg BT 517.24 306.60 Td (the ) Tj ET Q q 0 0 0 rg BT 531.96 306.60 Td (number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 59.56 294.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 82.40 294.60 Td (or ) Tj ET Q q 0 0 0 rg BT 92.45 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 106.40 294.60 Td (locations ) Tj ET Q q 0 0 0 rg BT 144.23 294.60 Td (at ) Tj ET Q q 0 0 0 rg BT 153.18 294.60 Td (which ) Tj ET Q q 0 0 0 rg BT 179.34 294.60 Td (we ) Tj ET Q q 0 0 0 rg BT 192.73 294.60 Td (can ) Tj ET Q q 0 0 0 rg BT 208.34 294.60 Td (drill.��Regulatory ) Tj ET Q q 0 0 0 rg BT 278.67 294.60 Td (requirements ) Tj ET Q q 0 0 0 rg BT 332.60 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 348.76 294.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 396.58 294.60 Td (relative ) Tj ET Q q 0 0 0 rg BT 428.29 294.60 Td (to ) Tj ET Q q 0 0 0 rg BT 437.80 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 451.74 294.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 464.03 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 480.19 294.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 495.25 294.60 Td (industry ) Tj ET Q q 0 0 0 rg BT 529.76 294.60 Td (increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (our ) Tj ET Q q 0 0 0 rg BT 65.33 282.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 87.83 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 98.66 282.60 Td (doing ) Tj ET Q q 0 0 0 rg BT 123.94 282.60 Td (business ) Tj ET Q q 0 0 0 rg BT 160.33 282.60 Td (and, ) Tj ET Q q 0 0 0 rg BT 179.77 282.60 Td (consequently) Tj ET Q q 0 0 0 rg BT 231.88 282.60 Td (, ) Tj ET Q q 0 0 0 rg BT 236.88 282.60 Td (af) Tj ET Q q 0 0 0 rg BT 244.47 282.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 261.96 282.60 Td (our ) Tj ET Q q 0 0 0 rg BT 277.79 282.60 Td (profitability) Tj ET Q q 0 0 0 rg BT 324.91 282.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (Federal ) Tj ET Q q 0 0 0 rg BT 84.76 258.60 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 133.93 258.60 Td (of ) Tj ET Q q 0 0 0 rg BT 144.76 258.60 Td (Sales ) Tj ET Q q 0 0 0 rg BT 168.93 258.60 Td (Prices ) Tj ET Q q 0 0 0 rg BT 197.53 258.60 Td (and ) Tj ET Q q 0 0 0 rg BT 215.97 258.60 Td (T) Tj ET Q q 0 0 0 rg BT 221.90 258.60 Td (ransportation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 234.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.56 234.60 Td (transportation ) Tj ET Q q 0 0 0 rg BT 143.61 234.60 Td (of, ) Tj ET Q q 0 0 0 rg BT 156.95 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 173.90 234.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 203.62 234.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 225.57 234.60 Td (with ) Tj ET Q q 0 0 0 rg BT 245.85 234.60 Td (respect ) Tj ET Q q 0 0 0 rg BT 276.68 234.60 Td (to, ) Tj ET Q q 0 0 0 rg BT 289.47 234.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 319.75 234.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 335.59 234.60 Td (in ) Tj ET Q q 0 0 0 rg BT 345.88 234.60 Td (interstate ) Tj ET Q q 0 0 0 rg BT 385.04 234.60 Td (commerce ) Tj ET Q q 0 0 0 rg BT 429.19 234.60 Td (are ) Tj ET Q q 0 0 0 rg BT 443.91 234.60 Td (heavily ) Tj ET Q q 0 0 0 rg BT 475.85 234.60 Td (regulated ) Tj ET Q q 0 0 0 rg BT 515.57 234.60 Td (by ) Tj ET Q q 0 0 0 rg BT 528.08 234.60 Td (agencies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.60 Td (of ) Tj ET Q q 0 0 0 rg BT 59.87 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 74.12 222.60 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 93.94 222.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 123.73 222.60 Td (government ) Tj ET Q q 0 0 0 rg BT 173.54 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 190.01 222.60 Td (are ) Tj ET Q q 0 0 0 rg BT 204.26 222.60 Td (af) Tj ET Q q 0 0 0 rg BT 211.84 222.60 Td (fected ) Tj ET Q q 0 0 0 rg BT 238.31 222.60 Td (by) Tj ET Q q 0 0 0 rg BT 247.66 222.60 Td (, ) Tj ET Q q 0 0 0 rg BT 252.19 222.60 Td (among ) Tj ET Q q 0 0 0 rg BT 281.45 222.60 Td (other ) Tj ET Q q 0 0 0 rg BT 304.03 222.60 Td (things, ) Tj ET Q q 0 0 0 rg BT 333.02 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 347.27 222.60 Td (availability) Tj ET Q q 0 0 0 rg BT 391.61 222.60 Td (, ) Tj ET Q q 0 0 0 rg BT 396.15 222.60 Td (terms ) Tj ET Q q 0 0 0 rg BT 420.40 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 436.88 222.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 455.02 222.60 Td (of ) Tj ET Q q 0 0 0 rg BT 465.39 222.60 Td (transportation.��Notably) Tj ET Q q 0 0 0 rg BT 560.00 222.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.88 210.60 Td (price ) Tj ET Q q 0 0 0 rg BT 88.03 210.60 Td (and ) Tj ET Q q 0 0 0 rg BT 105.64 210.60 Td (terms ) Tj ET Q q 0 0 0 rg BT 131.02 210.60 Td (of ) Tj ET Q q 0 0 0 rg BT 142.52 210.60 Td (access ) Tj ET Q q 0 0 0 rg BT 171.22 210.60 Td (to ) Tj ET Q q 0 0 0 rg BT 182.16 210.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 217.54 210.60 Td (transportation ) Tj ET Q q 0 0 0 rg BT 276.25 210.60 Td (are ) Tj ET Q q 0 0 0 rg BT 291.62 210.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 323.11 210.60 Td (to ) Tj ET Q q 0 0 0 rg BT 334.05 210.60 Td (extensive ) Tj ET Q q 0 0 0 rg BT 374.98 210.60 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 395.93 210.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 426.85 210.60 Td (and ) Tj ET Q q 0 0 0 rg BT 444.46 210.60 Td (state ) Tj ET Q q 0 0 0 rg BT 465.95 210.60 Td (regulation.��) Tj ET Q q 0 0 0 rg BT 513.81 210.60 Td (The ) Tj ET Q q 0 0 0 rg BT 532.52 210.60 Td (Federal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (Ener) Tj ET Q q 0 0 0 rg BT 68.20 198.60 Td (gy ) Tj ET Q q 0 0 0 rg BT 80.37 198.60 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 126.99 198.60 Td (Commission ) Tj ET Q q 0 0 0 rg BT 179.73 198.60 Td (\(�FERC�\) ) Tj ET Q q 0 0 0 rg BT 222.45 198.60 Td (is ) Tj ET Q q 0 0 0 rg BT 231.30 198.60 Td (continually ) Tj ET Q q 0 0 0 rg BT 278.47 198.60 Td (proposing ) Tj ET Q q 0 0 0 rg BT 320.65 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 337.26 198.60 Td (implementing ) Tj ET Q q 0 0 0 rg BT 394.99 198.60 Td (new ) Tj ET Q q 0 0 0 rg BT 413.83 198.60 Td (and/or ) Tj ET Q q 0 0 0 rg BT 441.55 198.60 Td (modified ) Tj ET Q q 0 0 0 rg BT 479.83 198.60 Td (rules ) Tj ET Q q 0 0 0 rg BT 501.45 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 518.06 198.60 Td (regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.60 Td (af) Tj ET Q q 0 0 0 rg BT 57.09 186.60 Td (fecting ) Tj ET Q q 0 0 0 rg BT 86.85 186.60 Td (the ) Tj ET Q q 0 0 0 rg BT 101.06 186.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 130.82 186.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 146.14 186.60 Td (industry) Tj ET Q q 0 0 0 rg BT 178.27 186.60 Td (, ) Tj ET Q q 0 0 0 rg BT 182.76 186.60 Td (some ) Tj ET Q q 0 0 0 rg BT 205.87 186.60 Td (of ) Tj ET Q q 0 0 0 rg BT 216.19 186.60 Td (which ) Tj ET Q q 0 0 0 rg BT 242.63 186.60 Td (may ) Tj ET Q q 0 0 0 rg BT 261.84 186.60 Td (adversely ) Tj ET Q q 0 0 0 rg BT 302.15 186.60 Td (af) Tj ET Q q 0 0 0 rg BT 309.73 186.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 326.71 186.60 Td (the ) Tj ET Q q 0 0 0 rg BT 340.93 186.60 Td (availability ) Tj ET Q q 0 0 0 rg BT 387.91 186.60 Td (and ) Tj ET Q q 0 0 0 rg BT 404.34 186.60 Td (reliability ) Tj ET Q q 0 0 0 rg BT 445.21 186.60 Td (of ) Tj ET Q q 0 0 0 rg BT 455.54 186.60 Td (interruptible ) Tj ET Q q 0 0 0 rg BT 506.96 186.60 Td (transportation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (service ) Tj ET Q q 0 0 0 rg BT 80.15 174.60 Td (on ) Tj ET Q q 0 0 0 rg BT 92.49 174.60 Td (interstate ) Tj ET Q q 0 0 0 rg BT 131.48 174.60 Td (pipelines.��) Tj ET Q q 0 0 0 rg BT 174.91 174.60 Td (While ) Tj ET Q q 0 0 0 rg BT 201.68 174.60 Td (our ) Tj ET Q q 0 0 0 rg BT 217.35 174.60 Td (sales ) Tj ET Q q 0 0 0 rg BT 239.12 174.60 Td (of ) Tj ET Q q 0 0 0 rg BT 249.79 174.60 Td (crude ) Tj ET Q q 0 0 0 rg BT 274.34 174.60 Td (oil, ) Tj ET Q q 0 0 0 rg BT 289.73 174.60 Td (condensate ) Tj ET Q q 0 0 0 rg BT 336.50 174.60 Td (and ) Tj ET Q q 0 0 0 rg BT 353.27 174.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 383.38 174.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 399.05 174.60 Td (liquids ) Tj ET Q q 0 0 0 rg BT 428.61 174.60 Td (are ) Tj ET Q q 0 0 0 rg BT 443.16 174.60 Td (not ) Tj ET Q q 0 0 0 rg BT 458.27 174.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 496.71 174.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 527.37 174.60 Td (to ) Tj ET Q q 0 0 0 rg BT 537.49 174.60 Td (FERC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.60 Td (regulation, ) Tj ET Q q 0 0 0 rg BT 95.28 162.60 Td (our ) Tj ET Q q 0 0 0 rg BT 111.35 162.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 139.64 162.60 Td (to ) Tj ET Q q 0 0 0 rg BT 150.16 162.60 Td (transport ) Tj ET Q q 0 0 0 rg BT 188.44 162.60 Td (and ) Tj ET Q q 0 0 0 rg BT 205.62 162.60 Td (sell ) Tj ET Q q 0 0 0 rg BT 222.24 162.60 Td (such ) Tj ET Q q 0 0 0 rg BT 243.31 162.60 Td (products ) Tj ET Q q 0 0 0 rg BT 280.49 162.60 Td (is ) Tj ET Q q 0 0 0 rg BT 289.90 162.60 Td (dependent ) Tj ET Q q 0 0 0 rg BT 333.73 162.60 Td (on ) Tj ET Q q 0 0 0 rg BT 346.47 162.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 376.41 162.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 415.25 162.60 Td (whose ) Tj ET Q q 0 0 0 rg BT 443.54 162.60 Td (rates, ) Tj ET Q q 0 0 0 rg BT 467.65 162.60 Td (terms ) Tj ET Q q 0 0 0 rg BT 492.61 162.60 Td (and ) Tj ET Q q 0 0 0 rg BT 509.79 162.60 Td (conditions ) Tj ET Q q 0 0 0 rg BT 554.19 162.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td (service ) Tj ET Q q 0 0 0 rg BT 81.62 150.60 Td (are ) Tj ET Q q 0 0 0 rg BT 97.63 150.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 129.75 150.60 Td (to ) Tj ET Q q 0 0 0 rg BT 141.33 150.60 Td (FERC ) Tj ET Q q 0 0 0 rg BT 170.14 150.60 Td (regulation.��) Tj ET Q q 0 0 0 rg BT 217.63 150.60 Td (Additional ) Tj ET Q q 0 0 0 rg BT 264.21 150.60 Td (proposals ) Tj ET Q q 0 0 0 rg BT 306.34 150.60 Td (and ) Tj ET Q q 0 0 0 rg BT 324.58 150.60 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 376.69 150.60 Td (that ) Tj ET Q q 0 0 0 rg BT 395.49 150.60 Td (might ) Tj ET Q q 0 0 0 rg BT 422.63 150.60 Td (af) Tj ET Q q 0 0 0 rg BT 430.22 150.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 449.00 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 465.02 150.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 496.58 150.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 513.72 150.60 Td (industry ) Tj ET Q q 0 0 0 rg BT 550.30 150.60 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (considered ) Tj ET Q q 0 0 0 rg BT 95.65 138.60 Td (from ) Tj ET Q q 0 0 0 rg BT 117.92 138.60 Td (time ) Tj ET Q q 0 0 0 rg BT 138.53 138.60 Td (to ) Tj ET Q q 0 0 0 rg BT 149.14 138.60 Td (time ) Tj ET Q q 0 0 0 rg BT 169.75 138.60 Td (by ) Tj ET Q q 0 0 0 rg BT 182.59 138.60 Td (Congress, ) Tj ET Q q 0 0 0 rg BT 225.14 138.60 Td (FERC, ) Tj ET Q q 0 0 0 rg BT 255.49 138.60 Td (state ) Tj ET Q q 0 0 0 rg BT 276.65 138.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 320.57 138.60 Td (bodies ) Tj ET Q q 0 0 0 rg BT 349.52 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 366.79 138.60 Td (the ) Tj ET Q q 0 0 0 rg BT 381.84 138.60 Td (courts, ) Tj ET Q q 0 0 0 rg BT 411.61 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 428.89 138.60 Td (we ) Tj ET Q q 0 0 0 rg BT 443.38 138.60 Td (cannot ) Tj ET Q q 0 0 0 rg BT 472.87 138.60 Td (predict ) Tj ET Q q 0 0 0 rg BT 503.47 138.60 Td (when ) Tj ET Q q 0 0 0 rg BT 527.96 138.60 Td (or ) Tj ET Q q 0 0 0 rg BT 539.13 138.60 Td (if ) Tj ET Q q 0 0 0 rg BT 548.07 138.60 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.60 Td (such ) Tj ET Q q 0 0 0 rg BT 70.33 126.60 Td (proposals ) Tj ET Q q 0 0 0 rg BT 111.16 126.60 Td (or ) Tj ET Q q 0 0 0 rg BT 121.99 126.60 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 172.81 126.60 Td (might ) Tj ET Q q 0 0 0 rg BT 198.64 126.60 Td (become ) Tj ET Q q 0 0 0 rg BT 232.23 126.60 Td (ef) Tj ET Q q 0 0 0 rg BT 239.82 126.60 Td (fective ) Tj ET Q q 0 0 0 rg BT 269.52 126.60 Td (and ) Tj ET Q q 0 0 0 rg BT 286.46 126.60 Td (their ) Tj ET Q q 0 0 0 rg BT 307.29 126.60 Td (ef) Tj ET Q q 0 0 0 rg BT 314.88 126.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 332.36 126.60 Td (or ) Tj ET Q q 0 0 0 rg BT 343.19 126.60 Td (impact, ) Tj ET Q q 0 0 0 rg BT 375.40 126.60 Td (if ) Tj ET Q q 0 0 0 rg BT 384.01 126.60 Td (any) Tj ET Q q 0 0 0 rg BT 397.80 126.60 Td (, ) Tj ET Q q 0 0 0 rg BT 402.80 126.60 Td (on ) Tj ET Q q 0 0 0 rg BT 415.30 126.60 Td (our ) Tj ET Q q 0 0 0 rg BT 431.13 126.60 Td (operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 102.60 Td (Federal ) Tj ET Q q 0 0 0 rg BT 84.76 102.60 Td (Energy ) Tj ET Q q 0 0 0 rg BT 118.37 102.60 Td (and ) Tj ET Q q 0 0 0 rg BT 137.00 102.60 Td (Climate ) Tj ET Q q 0 0 0 rg BT 173.37 102.60 Td (Change ) Tj ET Q q 0 0 0 rg BT 208.66 102.60 Td (Legislation ) Tj ET Q q 0 0 0 rg BT 258.38 102.60 Td (and ) Tj ET Q q 0 0 0 rg BT 277.00 102.60 Td (Regulation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 78.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.42 78.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 120.56 78.60 Td (Safety) Tj ET Q q 0 0 0 rg BT 145.46 78.60 Td (, ) Tj ET Q q 0 0 0 rg BT 150.33 78.60 Td (Regulatory ) Tj ET Q q 0 0 0 rg BT 197.13 78.60 Td (Certainty ) Tj ET Q q 0 0 0 rg BT 236.72 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 253.53 78.60 Td (Job ) Tj ET Q q 0 0 0 rg BT 269.79 78.60 Td (Creation ) Tj ET Q q 0 0 0 rg BT 306.07 78.60 Td (Act ) Tj ET Q q 0 0 0 rg BT 322.88 78.60 Td (of ) Tj ET Q q 0 0 0 rg BT 333.58 78.60 Td (201) Tj ET Q q 0 0 0 rg BT 348.21 78.60 Td (1, ) Tj ET Q q 0 0 0 rg BT 358.08 78.60 Td (among ) Tj ET Q q 0 0 0 rg BT 387.67 78.60 Td (other ) Tj ET Q q 0 0 0 rg BT 410.58 78.60 Td (things, ) Tj ET Q q 0 0 0 rg BT 439.90 78.60 Td (updated ) Tj ET Q q 0 0 0 rg BT 473.93 78.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 504.05 78.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 538.63 78.60 Td (safety ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.60 Td (standards, ) Tj ET Q q 0 0 0 rg BT 92.42 66.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 132.83 66.60 Td (penalties ) Tj ET Q q 0 0 0 rg BT 171.03 66.60 Td (for ) Tj ET Q q 0 0 0 rg BT 185.34 66.60 Td (violations ) Tj ET Q q 0 0 0 rg BT 227.44 66.60 Td (of ) Tj ET Q q 0 0 0 rg BT 238.42 66.60 Td (such ) Tj ET Q q 0 0 0 rg BT 259.40 66.60 Td (standards, ) Tj ET Q q 0 0 0 rg BT 302.33 66.60 Td (gave ) Tj ET Q q 0 0 0 rg BT 323.86 66.60 Td (the ) Tj ET Q q 0 0 0 rg BT 338.73 66.60 Td (Department ) Tj ET Q q 0 0 0 rg BT 388.58 66.60 Td (of ) Tj ET Q q 0 0 0 rg BT 399.38 66.60 Td (T) Tj ET Q q 0 0 0 rg BT 405.13 66.60 Td (ransportation�) Tj ET Q q 0 0 0 rg BT 460.68 66.60 Td (s ) Tj ET Q q 0 0 0 rg BT 467.22 66.60 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 502.65 66.60 Td (and ) Tj ET Q q 0 0 0 rg BT 519.74 66.60 Td (Hazardous ) Tj ET Q endstream endobj 47 0 obj <> endobj 48 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (Materials ) Tj ET Q q 0 0 0 rg BT 89.60 726.60 Td (Safety ) Tj ET Q q 0 0 0 rg BT 116.97 726.60 Td (Administration ) Tj ET Q q 0 0 0 rg BT 179.86 726.60 Td (\(the ) Tj ET Q q 0 0 0 rg BT 197.74 726.60 Td (�PHMSA�\) ) Tj ET Q q 0 0 0 rg BT 246.75 726.60 Td (authority ) Tj ET Q q 0 0 0 rg BT 285.19 726.60 Td (for ) Tj ET Q q 0 0 0 rg BT 299.19 726.60 Td (new ) Tj ET Q q 0 0 0 rg BT 318.19 726.60 Td (damage ) Tj ET Q q 0 0 0 rg BT 351.62 726.60 Td (prevention ) Tj ET Q q 0 0 0 rg BT 396.72 726.60 Td (and ) Tj ET Q q 0 0 0 rg BT 413.49 726.60 Td (incident ) Tj ET Q q 0 0 0 rg BT 448.04 726.60 Td (notification, ) Tj ET Q q 0 0 0 rg BT 498.98 726.60 Td (and ) Tj ET Q q 0 0 0 rg BT 515.76 726.60 Td (directed ) Tj ET Q q 0 0 0 rg BT 550.30 726.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (PHMSA) Tj ET Q q 0 0 0 rg BT 83.41 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 85.49 714.60 Td (to ) Tj ET Q q 0 0 0 rg BT 95.36 714.60 Td (prescribe ) Tj ET Q q 0 0 0 rg BT 134.09 714.60 Td (new ) Tj ET Q q 0 0 0 rg BT 152.84 714.60 Td (minimum ) Tj ET Q q 0 0 0 rg BT 193.81 714.60 Td (safety ) Tj ET Q q 0 0 0 rg BT 219.78 714.60 Td (standards ) Tj ET Q q 0 0 0 rg BT 259.63 714.60 Td (for ) Tj ET Q q 0 0 0 rg BT 273.38 714.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 287.27 713.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.52 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 292.61 714.60 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 333.30 714.60 Td (which ) Tj ET Q q 0 0 0 rg BT 359.82 714.60 Td (safety ) Tj ET Q q 0 0 0 rg BT 385.78 714.60 Td (standards ) Tj ET Q q 0 0 0 rg BT 425.64 714.60 Td (could ) Tj ET Q q 0 0 0 rg BT 449.94 714.60 Td (af) Tj ET Q q 0 0 0 rg BT 457.53 714.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 474.60 714.60 Td (our ) Tj ET Q q 0 0 0 rg BT 490.02 714.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 533.76 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 550.29 714.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.30 702.60 Td (thereof. ) Tj ET Q q 0 0 0 rg BT 105.92 702.60 Td ( ) Tj ET Q q 0 0 0 rg BT 108.52 702.60 Td (While ) Tj ET Q q 0 0 0 rg BT 135.75 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 150.77 702.60 Td (PHMSA) Tj ET Q q 0 0 0 rg BT 184.68 702.60 Td ( ) Tj ET Q q 0 0 0 rg BT 187.48 702.60 Td (has ) Tj ET Q q 0 0 0 rg BT 203.61 702.60 Td (adopted ) Tj ET Q q 0 0 0 rg BT 238.07 702.60 Td (or ) Tj ET Q q 0 0 0 rg BT 249.20 702.60 Td (proposed ) Tj ET Q q 0 0 0 rg BT 288.66 702.60 Td (to ) Tj ET Q q 0 0 0 rg BT 299.24 702.60 Td (adopt ) Tj ET Q q 0 0 0 rg BT 324.26 702.60 Td (a ) Tj ET Q q 0 0 0 rg BT 331.50 702.60 Td (number ) Tj ET Q q 0 0 0 rg BT 364.85 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 375.98 702.60 Td (new ) Tj ET Q q 0 0 0 rg BT 395.44 702.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 442.68 702.60 Td (to ) Tj ET Q q 0 0 0 rg BT 453.26 702.60 Td (implement ) Tj ET Q q 0 0 0 rg BT 498.83 702.60 Td (this ) Tj ET Q q 0 0 0 rg BT 516.08 702.60 Td (act, ) Tj ET Q q 0 0 0 rg BT 533.04 702.60 Td (no ) Tj ET Q q 0 0 0 rg BT 545.84 702.60 Td (new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.60 Td (minimum ) Tj ET Q q 0 0 0 rg BT 90.89 690.60 Td (safety ) Tj ET Q q 0 0 0 rg BT 117.27 690.60 Td (standards ) Tj ET Q q 0 0 0 rg BT 157.54 690.60 Td (have ) Tj ET Q q 0 0 0 rg BT 178.91 690.60 Td (been ) Tj ET Q q 0 0 0 rg BT 200.29 690.60 Td (proposed ) Tj ET Q q 0 0 0 rg BT 239.45 690.60 Td (or ) Tj ET Q q 0 0 0 rg BT 250.28 690.60 Td (adopted ) Tj ET Q q 0 0 0 rg BT 284.44 690.60 Td (for ) Tj ET Q q 0 0 0 rg BT 298.60 690.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 312.49 689.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.74 690.60 Td ( ) Tj ET Q q 0 0 0 rg BT 318.24 690.60 Td (pipelines.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 666.60 Td (Both ) Tj ET Q q 0 0 0 rg BT 89.67 666.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 120.15 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 137.31 666.60 Td (state ) Tj ET Q q 0 0 0 rg BT 158.36 666.60 Td (authorities ) Tj ET Q q 0 0 0 rg BT 203.30 666.60 Td (have ) Tj ET Q q 0 0 0 rg BT 224.90 666.60 Td (in ) Tj ET Q q 0 0 0 rg BT 235.41 666.60 Td (recent ) Tj ET Q q 0 0 0 rg BT 262.55 666.60 Td (years ) Tj ET Q q 0 0 0 rg BT 286.38 666.60 Td (proposed ) Tj ET Q q 0 0 0 rg BT 325.76 666.60 Td (new ) Tj ET Q q 0 0 0 rg BT 345.15 666.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 392.30 666.60 Td (to ) Tj ET Q q 0 0 0 rg BT 402.81 666.60 Td (limit ) Tj ET Q q 0 0 0 rg BT 424.42 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 439.37 666.60 Td (emission ) Tj ET Q q 0 0 0 rg BT 477.65 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 488.70 666.60 Td (greenhouse ) Tj ET Q q 0 0 0 rg BT 536.96 666.60 Td (gasses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (as ) Tj ET Q q 0 0 0 rg BT 60.94 654.60 Td (part ) Tj ET Q q 0 0 0 rg BT 79.59 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 91.02 654.60 Td (climate ) Tj ET Q q 0 0 0 rg BT 123.56 654.60 Td (change ) Tj ET Q q 0 0 0 rg BT 154.98 654.60 Td (initiatives.� ) Tj ET Q q 0 0 0 rg BT 202.52 654.60 Td (For ) Tj ET Q q 0 0 0 rg BT 219.52 654.60 Td (example, ) Tj ET Q q 0 0 0 rg BT 259.00 654.60 Td (both ) Tj ET Q q 0 0 0 rg BT 279.88 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 295.20 654.60 Td (EP) Tj ET Q q 0 0 0 rg BT 305.96 654.60 Td (A) Tj ET Q q 0 0 0 rg BT 312.63 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 315.73 654.60 Td (and ) Tj ET Q q 0 0 0 rg BT 333.27 654.60 Td (BLM ) Tj ET Q q 0 0 0 rg BT 358.05 654.60 Td (have ) Tj ET Q q 0 0 0 rg BT 380.03 654.60 Td (issued ) Tj ET Q q 0 0 0 rg BT 408.14 654.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 455.68 654.60 Td (for ) Tj ET Q q 0 0 0 rg BT 470.44 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 485.76 654.60 Td (control ) Tj ET Q q 0 0 0 rg BT 517.20 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 528.63 654.60 Td (methane ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (emissions. ) Tj ET Q q 0 0 0 rg BT 94.48 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 97.28 642.60 Td (The ) Tj ET Q q 0 0 0 rg BT 115.86 642.60 Td (EP) Tj ET Q q 0 0 0 rg BT 126.61 642.60 Td (A) Tj ET Q q 0 0 0 rg BT 133.28 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 136.31 642.60 Td (has ) Tj ET Q q 0 0 0 rg BT 152.67 642.60 Td (promulgated ) Tj ET Q q 0 0 0 rg BT 206.23 642.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 253.70 642.60 Td (requiring ) Tj ET Q q 0 0 0 rg BT 293.38 642.60 Td (permitting ) Tj ET Q q 0 0 0 rg BT 338.07 642.60 Td (for ) Tj ET Q q 0 0 0 rg BT 352.75 642.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 382.98 642.60 Td (sources ) Tj ET Q q 0 0 0 rg BT 416.00 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 427.36 642.60 Td (greenhouse ) Tj ET Q q 0 0 0 rg BT 475.92 642.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 492.28 642.60 Td (emissions, ) Tj ET Q q 0 0 0 rg BT 537.25 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 554.72 642.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (May ) Tj ET Q q 0 0 0 rg BT 69.99 630.60 Td (2016, ) Tj ET Q q 0 0 0 rg BT 94.65 630.60 Td (promulgated ) Tj ET Q q 0 0 0 rg BT 147.35 630.60 Td (final ) Tj ET Q q 0 0 0 rg BT 167.84 630.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 214.43 630.60 Td (to ) Tj ET Q q 0 0 0 rg BT 224.37 630.60 Td (reduce ) Tj ET Q q 0 0 0 rg BT 253.17 630.60 Td (methane ) Tj ET Q q 0 0 0 rg BT 289.20 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 305.80 630.60 Td (volatile ) Tj ET Q q 0 0 0 rg BT 337.95 630.60 Td (or) Tj ET Q q 0 0 0 rg BT 346.10 630.60 Td (ganic ) Tj ET Q q 0 0 0 rg BT 369.92 630.60 Td (compound ) Tj ET Q q 0 0 0 rg BT 414.29 630.60 Td (emissions ) Tj ET Q q 0 0 0 rg BT 455.90 630.60 Td (from ) Tj ET Q q 0 0 0 rg BT 477.50 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 491.88 630.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 504.59 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 521.19 630.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 536.68 630.60 Td (sector) Tj ET Q q 0 0 0 rg BT 560.00 630.60 Td (. ) Tj ET Q q 0 0 0 rg BT 565.00 630.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (In ) Tj ET Q q 0 0 0 rg BT 60.24 618.60 Td (July ) Tj ET Q q 0 0 0 rg BT 79.32 618.60 Td (2017, ) Tj ET Q q 0 0 0 rg BT 104.24 618.60 Td (a ) Tj ET Q q 0 0 0 rg BT 111.09 618.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 141.25 618.60 Td (appeals ) Tj ET Q q 0 0 0 rg BT 173.65 618.60 Td (court ) Tj ET Q q 0 0 0 rg BT 196.61 618.60 Td (rejected ) Tj ET Q q 0 0 0 rg BT 230.66 618.60 Td (an ) Tj ET Q q 0 0 0 rg BT 242.51 618.60 Td (attempt ) Tj ET Q q 0 0 0 rg BT 274.92 618.60 Td (by ) Tj ET Q q 0 0 0 rg BT 287.33 618.60 Td (the ) Tj ET Q q 0 0 0 rg BT 301.96 618.60 Td (EP) Tj ET Q q 0 0 0 rg BT 312.71 618.60 Td (A) Tj ET Q q 0 0 0 rg BT 319.38 618.60 Td ( ) Tj ET Q q 0 0 0 rg BT 321.79 618.60 Td (to ) Tj ET Q q 0 0 0 rg BT 331.98 618.60 Td (delay ) Tj ET Q q 0 0 0 rg BT 356.05 618.60 Td (implementation ) Tj ET Q q 0 0 0 rg BT 421.22 618.60 Td (of ) Tj ET Q q 0 0 0 rg BT 431.97 618.60 Td (the ) Tj ET Q q 0 0 0 rg BT 446.59 618.60 Td (rule. ) Tj ET Q q 0 0 0 rg BT 467.05 618.60 Td ( ) Tj ET Q q 0 0 0 rg BT 469.47 618.60 Td (In ) Tj ET Q q 0 0 0 rg BT 480.21 618.60 Td (September ) Tj ET Q q 0 0 0 rg BT 525.38 618.60 Td (2018, ) Tj ET Q q 0 0 0 rg BT 550.30 618.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (EP) Tj ET Q q 0 0 0 rg BT 60.25 606.60 Td (A) Tj ET Q q 0 0 0 rg BT 66.92 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 71.88 606.60 Td (proposed ) Tj ET Q q 0 0 0 rg BT 113.49 606.60 Td (amendments ) Tj ET Q q 0 0 0 rg BT 168.98 606.60 Td (to ) Tj ET Q q 0 0 0 rg BT 181.71 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 198.88 606.60 Td (rule ) Tj ET Q q 0 0 0 rg BT 219.38 606.60 Td (that ) Tj ET Q q 0 0 0 rg BT 239.33 606.60 Td (are ) Tj ET Q q 0 0 0 rg BT 256.49 606.60 Td (tar) Tj ET Q q 0 0 0 rg BT 266.86 606.60 Td (geted ) Tj ET Q q 0 0 0 rg BT 293.47 606.60 Td (at ) Tj ET Q q 0 0 0 rg BT 305.64 606.60 Td (reducing ) Tj ET Q q 0 0 0 rg BT 345.58 606.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 391.62 606.60 Td (requirements ) Tj ET Q q 0 0 0 rg BT 448.78 606.60 Td (and ) Tj ET Q q 0 0 0 rg BT 468.17 606.60 Td (streamlining ) Tj ET Q q 0 0 0 rg BT 523.11 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 540.28 606.60 Td (rule�) Tj ET Q q 0 0 0 rg BT 558.61 606.60 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (implementation. ) Tj ET Q q 0 0 0 rg BT 117.29 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 119.81 594.60 Td (Enforcement ) Tj ET Q q 0 0 0 rg BT 173.97 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 184.82 594.60 Td (these ) Tj ET Q q 0 0 0 rg BT 207.89 594.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 254.85 594.60 Td (may ) Tj ET Q q 0 0 0 rg BT 274.59 594.60 Td (impose ) Tj ET Q q 0 0 0 rg BT 305.99 594.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 348.51 594.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 371.03 594.60 Td (related ) Tj ET Q q 0 0 0 rg BT 400.75 594.60 Td (to ) Tj ET Q q 0 0 0 rg BT 411.05 594.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 459.66 594.60 Td (with ) Tj ET Q q 0 0 0 rg BT 479.96 594.60 Td (new ) Tj ET Q q 0 0 0 rg BT 499.15 594.60 Td (emission ) Tj ET Q q 0 0 0 rg BT 537.22 594.60 Td (limits, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (as ) Tj ET Q q 0 0 0 rg BT 60.33 582.60 Td (well ) Tj ET Q q 0 0 0 rg BT 80.05 582.60 Td (as ) Tj ET Q q 0 0 0 rg BT 90.88 582.60 Td (inspections ) Tj ET Q q 0 0 0 rg BT 138.37 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 155.31 582.60 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 208.34 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 219.17 582.60 Td (several ) Tj ET Q q 0 0 0 rg BT 249.98 582.60 Td (types ) Tj ET Q q 0 0 0 rg BT 273.59 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 284.42 582.60 Td (equipment ) Tj ET Q q 0 0 0 rg BT 329.13 582.60 Td (used ) Tj ET Q q 0 0 0 rg BT 349.96 582.60 Td (in ) Tj ET Q q 0 0 0 rg BT 360.24 582.60 Td (our ) Tj ET Q q 0 0 0 rg BT 376.07 582.60 Td (operations. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (Natural ) Tj ET Q q 0 0 0 rg BT 85.33 558.60 Td (Gas ) Tj ET Q q 0 0 0 rg BT 104.50 558.60 Td (Gathering ) Tj ET Q q 0 0 0 rg BT 150.89 558.60 Td (Regulations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 534.60 Td (State ) Tj ET Q q 0 0 0 rg BT 90.08 534.60 Td (and ) Tj ET Q q 0 0 0 rg BT 107.11 534.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 137.45 534.60 Td (regulation ) Tj ET Q q 0 0 0 rg BT 180.58 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 191.49 534.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 221.84 534.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 237.76 534.60 Td (gathering ) Tj ET Q q 0 0 0 rg BT 278.11 534.60 Td (facilities ) Tj ET Q q 0 0 0 rg BT 315.13 534.60 Td (generally ) Tj ET Q q 0 0 0 rg BT 354.92 534.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 390.83 534.60 Td (various ) Tj ET Q q 0 0 0 rg BT 422.85 534.60 Td (safety) Tj ET Q q 0 0 0 rg BT 446.08 534.60 Td (, ) Tj ET Q q 0 0 0 rg BT 451.17 534.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 511.51 534.60 Td (and, ) Tj ET Q q 0 0 0 rg BT 531.04 534.60 Td (in ) Tj ET Q q 0 0 0 rg BT 541.41 534.60 Td (some ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 111.96 522.60 Td (nondiscriminatory-take ) Tj ET Q q 0 0 0 rg BT 208.59 522.60 Td (requirements.��) Tj ET Q q 0 0 0 rg BT 268.11 522.60 Td (W) Tj ET Q q 0 0 0 rg BT 277.15 522.60 Td (ith ) Tj ET Q q 0 0 0 rg BT 291.03 522.60 Td (the ) Tj ET Q q 0 0 0 rg BT 306.57 522.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 342.65 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 353.75 522.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 406.50 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 424.27 522.60 Td (operation ) Tj ET Q q 0 0 0 rg BT 465.35 522.60 Td (of ) Tj ET Q q 0 0 0 rg BT 477.00 522.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 508.09 522.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 524.74 522.60 Td (gathering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (lines ) Tj ET Q q 0 0 0 rg BT 71.35 510.60 Td (in ) Tj ET Q q 0 0 0 rg BT 82.10 510.60 Td (various ) Tj ET Q q 0 0 0 rg BT 114.50 510.60 Td (states, ) Tj ET Q q 0 0 0 rg BT 142.19 510.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 172.92 510.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 189.21 510.60 Td (gathering ) Tj ET Q q 0 0 0 rg BT 229.94 510.60 Td (is ) Tj ET Q q 0 0 0 rg BT 239.58 510.60 Td (receiving ) Tj ET Q q 0 0 0 rg BT 279.75 510.60 Td (greater ) Tj ET Q q 0 0 0 rg BT 310.47 510.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 354.53 510.60 Td (scrutiny ) Tj ET Q q 0 0 0 rg BT 389.71 510.60 Td (from ) Tj ET Q q 0 0 0 rg BT 412.11 510.60 Td (state ) Tj ET Q q 0 0 0 rg BT 433.41 510.60 Td (and ) Tj ET Q q 0 0 0 rg BT 450.81 510.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 481.53 510.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 525.59 510.60 Td (agencies, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (which ) Tj ET Q q 0 0 0 rg BT 76.44 498.60 Td (is ) Tj ET Q q 0 0 0 rg BT 85.61 498.60 Td (likely ) Tj ET Q q 0 0 0 rg BT 110.88 498.60 Td (to ) Tj ET Q q 0 0 0 rg BT 121.16 498.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 158.09 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 168.37 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 183.09 498.60 Td (future.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (Federal, ) Tj ET Q q 0 0 0 rg BT 87.26 474.60 Td (State ) Tj ET Q q 0 0 0 rg BT 111.42 474.60 Td (or) Tj ET Q q 0 0 0 rg BT 120.68 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 123.18 474.60 Td (Indian ) Tj ET Q q 0 0 0 rg BT 154.04 474.60 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 450.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.96 450.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 130.53 450.60 Td (on ) Tj ET Q q 0 0 0 rg BT 143.44 450.60 Td (federal, ) Tj ET Q q 0 0 0 rg BT 176.60 450.60 Td (state ) Tj ET Q q 0 0 0 rg BT 197.84 450.60 Td (or ) Tj ET Q q 0 0 0 rg BT 209.08 450.60 Td (Indian ) Tj ET Q q 0 0 0 rg BT 237.53 450.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 251.00 450.60 Td (and ) Tj ET Q q 0 0 0 rg BT 268.35 450.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 284.59 450.60 Td (leases, ) Tj ET Q q 0 0 0 rg BT 313.88 450.60 Td (especially ) Tj ET Q q 0 0 0 rg BT 356.77 450.60 Td (those ) Tj ET Q q 0 0 0 rg BT 380.79 450.60 Td (in ) Tj ET Q q 0 0 0 rg BT 391.47 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 406.60 450.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 435.62 450.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 477.42 450.60 Td (region, ) Tj ET Q q 0 0 0 rg BT 508.37 450.60 Td (are ) Tj ET Q q 0 0 0 rg BT 523.49 450.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 554.73 450.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.60 Td (numerous ) Tj ET Q q 0 0 0 rg BT 90.52 438.60 Td (restrictions, ) Tj ET Q q 0 0 0 rg BT 139.03 438.60 Td (including ) Tj ET Q q 0 0 0 rg BT 178.38 438.60 Td (nondiscrimination ) Tj ET Q q 0 0 0 rg BT 252.73 438.60 Td (statutes. ) Tj ET Q q 0 0 0 rg BT 286.80 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 288.38 438.60 Td (Such ) Tj ET Q q 0 0 0 rg BT 309.96 438.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 353.19 438.60 Td (must ) Tj ET Q q 0 0 0 rg BT 374.22 438.60 Td (be ) Tj ET Q q 0 0 0 rg BT 385.24 438.60 Td (conducted ) Tj ET Q q 0 0 0 rg BT 427.91 438.60 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 463.93 438.60 Td (to ) Tj ET Q q 0 0 0 rg BT 473.28 438.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 502.06 438.60 Td (on-site ) Tj ET Q q 0 0 0 rg BT 530.86 438.60 Td (security ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 98.00 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 116.51 426.60 Td (other ) Tj ET Q q 0 0 0 rg BT 141.13 426.60 Td (permits ) Tj ET Q q 0 0 0 rg BT 175.19 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 193.70 426.60 Td (authorizations ) Tj ET Q q 0 0 0 rg BT 254.42 426.60 Td (issued ) Tj ET Q q 0 0 0 rg BT 283.48 426.60 Td (by ) Tj ET Q q 0 0 0 rg BT 297.55 426.60 Td (the ) Tj ET Q q 0 0 0 rg BT 313.84 426.60 Td (Bureau ) Tj ET Q q 0 0 0 rg BT 346.79 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 359.18 426.60 Td (Land ) Tj ET Q q 0 0 0 rg BT 383.80 426.60 Td (Management, ) Tj ET Q q 0 0 0 rg BT 442.57 426.60 Td (the ) Tj ET Q q 0 0 0 rg BT 458.86 426.60 Td (Bureau ) Tj ET Q q 0 0 0 rg BT 491.80 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 504.20 426.60 Td (Ocean ) Tj ET Q q 0 0 0 rg BT 533.81 426.60 Td (Ener) Tj ET Q q 0 0 0 rg BT 552.50 426.60 Td (gy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (Management, ) Tj ET Q q 0 0 0 rg BT 107.43 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 122.88 414.60 Td (Bureau ) Tj ET Q q 0 0 0 rg BT 154.99 414.60 Td (of ) Tj ET Q q 0 0 0 rg BT 166.55 414.60 Td (Safety ) Tj ET Q q 0 0 0 rg BT 195.33 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 213.00 414.60 Td (Environmental ) Tj ET Q q 0 0 0 rg BT 275.66 414.60 Td (Enforcement, ) Tj ET Q q 0 0 0 rg BT 333.03 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 348.48 414.60 Td (Bureau ) Tj ET Q q 0 0 0 rg BT 380.59 414.60 Td (of ) Tj ET Q q 0 0 0 rg BT 392.15 414.60 Td (Indian ) Tj ET Q q 0 0 0 rg BT 420.22 414.60 Td (Af) Tj ET Q q 0 0 0 rg BT 430.59 414.60 Td (fairs, ) Tj ET Q q 0 0 0 rg BT 454.09 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 471.76 414.60 Td (other ) Tj ET Q q 0 0 0 rg BT 495.53 414.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 526.52 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 544.19 414.60 Td (state ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (stakeholder ) Tj ET Q q 0 0 0 rg BT 98.09 402.60 Td (agencies.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (Envir) Tj ET Q q 0 0 0 rg BT 73.77 378.60 Td (onmental ) Tj ET Q q 0 0 0 rg BT 116.27 378.60 Td (Regulations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 354.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.25 354.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 98.01 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 114.65 354.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 144.62 354.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 160.15 354.60 Td (production, ) Tj ET Q q 0 0 0 rg BT 208.17 354.60 Td (saltwater ) Tj ET Q q 0 0 0 rg BT 246.47 354.60 Td (disposal ) Tj ET Q q 0 0 0 rg BT 281.45 354.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 327.80 354.60 Td (injection ) Tj ET Q q 0 0 0 rg BT 365.00 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 375.53 354.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 389.42 353.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.67 354.60 Td (, ) Tj ET Q q 0 0 0 rg BT 397.37 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 414.01 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 428.43 354.60 Td (processing, ) Tj ET Q q 0 0 0 rg BT 475.90 354.60 Td (handling ) Tj ET Q q 0 0 0 rg BT 513.09 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 529.73 354.60 Td (disposal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (of ) Tj ET Q q 0 0 0 rg BT 59.68 342.60 Td (materials ) Tj ET Q q 0 0 0 rg BT 98.18 342.60 Td (such ) Tj ET Q q 0 0 0 rg BT 118.37 342.60 Td (as ) Tj ET Q q 0 0 0 rg BT 128.55 342.60 Td (hydrocarbons ) Tj ET Q q 0 0 0 rg BT 184.83 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 201.12 342.60 Td (naturally ) Tj ET Q q 0 0 0 rg BT 238.51 342.60 Td (occurring ) Tj ET Q q 0 0 0 rg BT 278.68 342.60 Td (radioactive ) Tj ET Q q 0 0 0 rg BT 324.95 342.60 Td (materials ) Tj ET Q q 0 0 0 rg BT 363.46 342.60 Td (\(�NORM�\) ) Tj ET Q q 0 0 0 rg BT 410.85 342.60 Td (are ) Tj ET Q q 0 0 0 rg BT 424.91 342.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 455.09 342.60 Td (to ) Tj ET Q q 0 0 0 rg BT 464.72 342.60 Td (stringent ) Tj ET Q q 0 0 0 rg BT 501.56 342.60 Td (regulation.��) Tj ET Q q 0 0 0 rg BT 549.42 342.60 Td (W) Tj ET Q q 0 0 0 rg BT 558.06 342.60 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (could ) Tj ET Q q 0 0 0 rg BT 74.26 330.60 Td (incur ) Tj ET Q q 0 0 0 rg BT 97.34 330.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 142.09 330.60 Td (costs, ) Tj ET Q q 0 0 0 rg BT 167.13 330.60 Td (including ) Tj ET Q q 0 0 0 rg BT 207.44 330.60 Td (cleanup ) Tj ET Q q 0 0 0 rg BT 241.08 330.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 263.62 330.60 Td (resulting ) Tj ET Q q 0 0 0 rg BT 301.15 330.60 Td (from ) Tj ET Q q 0 0 0 rg BT 323.13 330.60 Td (a ) Tj ET Q q 0 0 0 rg BT 330.11 330.60 Td (release ) Tj ET Q q 0 0 0 rg BT 360.40 330.60 Td (of ) Tj ET Q q 0 0 0 rg BT 371.27 330.60 Td (product, ) Tj ET Q q 0 0 0 rg BT 406.85 330.60 Td (third-party ) Tj ET Q q 0 0 0 rg BT 452.16 330.60 Td (claims ) Tj ET Q q 0 0 0 rg BT 480.80 330.60 Td (for ) Tj ET Q q 0 0 0 rg BT 495.00 330.60 Td (property ) Tj ET Q q 0 0 0 rg BT 531.41 330.60 Td (damage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.60 Td (and ) Tj ET Q q 0 0 0 rg BT 67.10 318.60 Td (personal ) Tj ET Q q 0 0 0 rg BT 104.14 318.60 Td (injuries, ) Tj ET Q q 0 0 0 rg BT 139.80 318.60 Td (or ) Tj ET Q q 0 0 0 rg BT 151.29 318.60 Td (penalties ) Tj ET Q q 0 0 0 rg BT 189.99 318.60 Td (and ) Tj ET Q q 0 0 0 rg BT 207.59 318.60 Td (other ) Tj ET Q q 0 0 0 rg BT 231.30 318.60 Td (sanctions ) Tj ET Q q 0 0 0 rg BT 271.68 318.60 Td (as ) Tj ET Q q 0 0 0 rg BT 283.17 318.60 Td (a ) Tj ET Q q 0 0 0 rg BT 290.77 318.60 Td (result ) Tj ET Q q 0 0 0 rg BT 316.15 318.60 Td (of ) Tj ET Q q 0 0 0 rg BT 327.64 318.60 Td (any ) Tj ET Q q 0 0 0 rg BT 345.24 318.60 Td (violations ) Tj ET Q q 0 0 0 rg BT 387.84 318.60 Td (or ) Tj ET Q q 0 0 0 rg BT 399.34 318.60 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 439.71 318.60 Td (under ) Tj ET Q q 0 0 0 rg BT 465.65 318.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 526.57 318.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 548.06 318.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 95.43 306.60 Td (or ) Tj ET Q q 0 0 0 rg BT 105.26 306.60 Td (other ) Tj ET Q q 0 0 0 rg BT 127.31 306.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 147.14 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 163.07 306.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 209.01 306.60 Td (applicable ) Tj ET Q q 0 0 0 rg BT 251.59 306.60 Td (to ) Tj ET Q q 0 0 0 rg BT 260.87 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 275.70 306.60 Td (operations.��Changes ) Tj ET Q q 0 0 0 rg BT 360.79 306.60 Td (in, ) Tj ET Q q 0 0 0 rg BT 372.57 306.60 Td (or ) Tj ET Q q 0 0 0 rg BT 382.40 306.60 Td (more ) Tj ET Q q 0 0 0 rg BT 404.45 306.60 Td (stringent ) Tj ET Q q 0 0 0 rg BT 440.94 306.60 Td (enforcement ) Tj ET Q q 0 0 0 rg BT 492.41 306.60 Td (of, ) Tj ET Q q 0 0 0 rg BT 504.74 306.60 Td (environmental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 70.09 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 86.78 294.60 Td (other ) Tj ET Q q 0 0 0 rg BT 109.59 294.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 130.17 294.60 Td (applicable ) Tj ET Q q 0 0 0 rg BT 173.52 294.60 Td (to ) Tj ET Q q 0 0 0 rg BT 183.56 294.60 Td (our ) Tj ET Q q 0 0 0 rg BT 199.14 294.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 243.06 294.60 Td (could ) Tj ET Q q 0 0 0 rg BT 267.53 294.60 Td (also ) Tj ET Q q 0 0 0 rg BT 285.90 294.60 Td (result ) Tj ET Q q 0 0 0 rg BT 310.37 294.60 Td (in ) Tj ET Q q 0 0 0 rg BT 320.41 294.60 Td (delays ) Tj ET Q q 0 0 0 rg BT 348.21 294.60 Td (or ) Tj ET Q q 0 0 0 rg BT 358.80 294.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 401.05 294.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 441.07 294.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 463.32 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 480.02 294.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 508.93 294.60 Td (expenditures.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 270.60 Td (V) Tj ET Q q 0 0 0 rg BT 73.61 270.60 Td (arious ) Tj ET Q q 0 0 0 rg BT 100.26 270.60 Td (federal, ) Tj ET Q q 0 0 0 rg BT 132.72 270.60 Td (state ) Tj ET Q q 0 0 0 rg BT 153.26 270.60 Td (and ) Tj ET Q q 0 0 0 rg BT 169.91 270.60 Td (local ) Tj ET Q q 0 0 0 rg BT 191.55 270.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 212.09 270.60 Td (and ) Tj ET Q q 0 0 0 rg BT 228.74 270.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 275.38 270.60 Td (controlling ) Tj ET Q q 0 0 0 rg BT 321.47 270.60 Td (the ) Tj ET Q q 0 0 0 rg BT 335.90 270.60 Td (dischar) Tj ET Q q 0 0 0 rg BT 364.59 270.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 376.24 270.60 Td (of ) Tj ET Q q 0 0 0 rg BT 386.78 270.60 Td (materials ) Tj ET Q q 0 0 0 rg BT 425.64 270.60 Td (into ) Tj ET Q q 0 0 0 rg BT 443.41 270.60 Td (the ) Tj ET Q q 0 0 0 rg BT 457.83 270.60 Td (environment, ) Tj ET Q q 0 0 0 rg BT 513.09 270.60 Td (or ) Tj ET Q q 0 0 0 rg BT 523.63 270.60 Td (otherwise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (relating ) Tj ET Q q 0 0 0 rg BT 83.30 258.60 Td (to ) Tj ET Q q 0 0 0 rg BT 94.34 258.60 Td (the ) Tj ET Q q 0 0 0 rg BT 109.82 258.60 Td (protection ) Tj ET Q q 0 0 0 rg BT 153.63 258.60 Td (of ) Tj ET Q q 0 0 0 rg BT 165.22 258.60 Td (the ) Tj ET Q q 0 0 0 rg BT 180.70 258.60 Td (environment ) Tj ET Q q 0 0 0 rg BT 234.50 258.60 Td (and ) Tj ET Q q 0 0 0 rg BT 252.20 258.60 Td (human ) Tj ET Q q 0 0 0 rg BT 282.68 258.60 Td (health, ) Tj ET Q q 0 0 0 rg BT 312.87 258.60 Td (directly ) Tj ET Q q 0 0 0 rg BT 346.68 258.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 377.15 258.60 Td (our ) Tj ET Q q 0 0 0 rg BT 393.74 258.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 407.56 258.60 Td (and ) Tj ET Q q 0 0 0 rg BT 425.26 258.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 441.85 258.60 Td (exploration, ) Tj ET Q q 0 0 0 rg BT 493.16 258.60 Td (development ) Tj ET Q q 0 0 0 rg BT 548.07 258.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.60 Td (production ) Tj ET Q q 0 0 0 rg BT 96.05 246.60 Td (operations.��) Tj ET Q q 0 0 0 rg BT 145.03 246.60 Td (These ) Tj ET Q q 0 0 0 rg BT 172.13 246.60 Td (include, ) Tj ET Q q 0 0 0 rg BT 207.29 246.60 Td (among ) Tj ET Q q 0 0 0 rg BT 237.74 246.60 Td (others, ) Tj ET Q q 0 0 0 rg BT 267.90 246.60 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 282.79 246.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 330.45 246.60 Td (adopted ) Tj ET Q q 0 0 0 rg BT 365.33 246.60 Td (by ) Tj ET Q q 0 0 0 rg BT 378.56 246.60 Td (the ) Tj ET Q q 0 0 0 rg BT 394.01 246.60 Td (EP) Tj ET Q q 0 0 0 rg BT 404.76 246.60 Td (A) Tj ET Q q 0 0 0 rg BT 411.43 246.60 Td ( ) Tj ET Q q 0 0 0 rg BT 414.66 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 432.32 246.60 Td (various ) Tj ET Q q 0 0 0 rg BT 464.99 246.60 Td (state ) Tj ET Q q 0 0 0 rg BT 486.54 246.60 Td (agencies ) Tj ET Q q 0 0 0 rg BT 524.19 246.60 Td (regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (approved ) Tj ET Q q 0 0 0 rg BT 89.21 234.60 Td (methods ) Tj ET Q q 0 0 0 rg BT 125.61 234.60 Td (of ) Tj ET Q q 0 0 0 rg BT 136.44 234.60 Td (disposal ) Tj ET Q q 0 0 0 rg BT 171.73 234.60 Td (for ) Tj ET Q q 0 0 0 rg BT 185.89 234.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 215.60 234.60 Td (hazardous ) Tj ET Q q 0 0 0 rg BT 258.65 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 275.59 234.60 Td (nonhazardous ) Tj ET Q q 0 0 0 rg BT 333.63 234.60 Td (wastes; ) Tj ET Q q 0 0 0 rg BT 365.58 234.60 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 379.75 234.60 Td (the ) Tj ET Q q 0 0 0 rg BT 394.47 234.60 Td (Comprehensive ) Tj ET Q q 0 0 0 rg BT 459.74 234.60 Td (Environmental ) Tj ET Q q 0 0 0 rg BT 521.67 234.60 Td (Response, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.60 Td (Compensation, ) Tj ET Q q 0 0 0 rg BT 112.00 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 128.66 222.60 Td (Liability ) Tj ET Q q 0 0 0 rg BT 164.83 222.60 Td (Act ) Tj ET Q q 0 0 0 rg BT 181.49 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 198.15 222.60 Td (analogous ) Tj ET Q q 0 0 0 rg BT 240.92 222.60 Td (state ) Tj ET Q q 0 0 0 rg BT 261.47 222.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 282.02 222.60 Td (that ) Tj ET Q q 0 0 0 rg BT 299.24 222.60 Td (regulate ) Tj ET Q q 0 0 0 rg BT 333.67 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 348.11 222.60 Td (removal ) Tj ET Q q 0 0 0 rg BT 383.09 222.60 Td (or ) Tj ET Q q 0 0 0 rg BT 393.65 222.60 Td (remediation ) Tj ET Q q 0 0 0 rg BT 443.63 222.60 Td (of ) Tj ET Q q 0 0 0 rg BT 454.18 222.60 Td (previously ) Tj ET Q q 0 0 0 rg BT 498.62 222.60 Td (disposed ) Tj ET Q q 0 0 0 rg BT 535.85 222.60 Td (wastes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (\(including ) Tj ET Q q 0 0 0 rg BT 95.49 210.60 Td (wastes ) Tj ET Q q 0 0 0 rg BT 127.04 210.60 Td (disposed ) Tj ET Q q 0 0 0 rg BT 166.92 210.60 Td (of ) Tj ET Q q 0 0 0 rg BT 180.14 210.60 Td (or ) Tj ET Q q 0 0 0 rg BT 193.35 210.60 Td (released ) Tj ET Q q 0 0 0 rg BT 231.00 210.60 Td (by ) Tj ET Q q 0 0 0 rg BT 245.88 210.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 270.21 210.60 Td (owners ) Tj ET Q q 0 0 0 rg BT 303.97 210.60 Td (or ) Tj ET Q q 0 0 0 rg BT 317.19 210.60 Td (operators\), ) Tj ET Q q 0 0 0 rg BT 365.11 210.60 Td (property ) Tj ET Q q 0 0 0 rg BT 403.88 210.60 Td (contamination ) Tj ET Q q 0 0 0 rg BT 465.97 210.60 Td (\(including ) Tj ET Q q 0 0 0 rg BT 511.96 210.60 Td (groundwater ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (contamination\), ) Tj ET Q q 0 0 0 rg BT 114.52 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 130.95 198.60 Td (remedial ) Tj ET Q q 0 0 0 rg BT 167.92 198.60 Td (plugging ) Tj ET Q q 0 0 0 rg BT 205.46 198.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 249.10 198.60 Td (to ) Tj ET Q q 0 0 0 rg BT 258.87 198.60 Td (prevent ) Tj ET Q q 0 0 0 rg BT 290.84 198.60 Td (future ) Tj ET Q q 0 0 0 rg BT 316.71 198.60 Td (contamination; ) Tj ET Q q 0 0 0 rg BT 378.68 198.60 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 392.33 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 406.53 198.60 Td (Clean ) Tj ET Q q 0 0 0 rg BT 431.41 198.60 Td (Air ) Tj ET Q q 0 0 0 rg BT 446.28 198.60 Td (Act ) Tj ET Q q 0 0 0 rg BT 462.71 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 479.14 198.60 Td (comparable ) Tj ET Q q 0 0 0 rg BT 527.76 198.60 Td (state ) Tj ET Q q 0 0 0 rg BT 548.08 198.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.60 Td (local ) Tj ET Q q 0 0 0 rg BT 72.55 186.60 Td (requirements ) Tj ET Q q 0 0 0 rg BT 128.37 186.60 Td (already ) Tj ET Q q 0 0 0 rg BT 161.41 186.60 Td (applicable ) Tj ET Q q 0 0 0 rg BT 206.12 186.60 Td (to ) Tj ET Q q 0 0 0 rg BT 217.51 186.60 Td (our ) Tj ET Q q 0 0 0 rg BT 234.46 186.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 279.73 186.60 Td (and ) Tj ET Q q 0 0 0 rg BT 297.79 186.60 Td (new ) Tj ET Q q 0 0 0 rg BT 318.07 186.60 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 366.12 186.60 Td (on ) Tj ET Q q 0 0 0 rg BT 379.73 186.60 Td (air ) Tj ET Q q 0 0 0 rg BT 393.90 186.60 Td (emissions ) Tj ET Q q 0 0 0 rg BT 436.96 186.60 Td (from ) Tj ET Q q 0 0 0 rg BT 460.02 186.60 Td (our ) Tj ET Q q 0 0 0 rg BT 476.97 186.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 524.74 186.60 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (greenhouse ) Tj ET Q q 0 0 0 rg BT 97.56 174.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 113.42 174.60 Td (emissions ) Tj ET Q q 0 0 0 rg BT 155.39 174.60 Td (and ) Tj ET Q q 0 0 0 rg BT 172.35 174.60 Td (those ) Tj ET Q q 0 0 0 rg BT 195.98 174.60 Td (that ) Tj ET Q q 0 0 0 rg BT 213.50 174.60 Td (could ) Tj ET Q q 0 0 0 rg BT 238.25 174.60 Td (discourage ) Tj ET Q q 0 0 0 rg BT 284.08 174.60 Td (the ) Tj ET Q q 0 0 0 rg BT 298.83 174.60 Td (production ) Tj ET Q q 0 0 0 rg BT 344.68 174.60 Td (of ) Tj ET Q q 0 0 0 rg BT 355.53 174.60 Td (fossil ) Tj ET Q q 0 0 0 rg BT 379.72 174.60 Td (fuels ) Tj ET Q q 0 0 0 rg BT 401.69 174.60 Td (that, ) Tj ET Q q 0 0 0 rg BT 421.71 174.60 Td (when ) Tj ET Q q 0 0 0 rg BT 445.89 174.60 Td (used, ) Tj ET Q q 0 0 0 rg BT 469.25 174.60 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 512.32 174.60 Td (release ) Tj ET Q q 0 0 0 rg BT 542.60 174.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 556.49 173.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.74 174.60 Td (; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.60 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 63.66 162.60 Td (the ) Tj ET Q q 0 0 0 rg BT 78.38 162.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 93.66 162.60 Td (Pollution ) Tj ET Q q 0 0 0 rg BT 132.29 162.60 Td (Act ) Tj ET Q q 0 0 0 rg BT 149.23 162.60 Td (of ) Tj ET Q q 0 0 0 rg BT 160.06 162.60 Td (1990, ) Tj ET Q q 0 0 0 rg BT 185.06 162.60 Td (which ) Tj ET Q q 0 0 0 rg BT 212.00 162.60 Td (contains ) Tj ET Q q 0 0 0 rg BT 247.83 162.60 Td (numerous ) Tj ET Q q 0 0 0 rg BT 289.77 162.60 Td (requirements ) Tj ET Q q 0 0 0 rg BT 344.48 162.60 Td (relating ) Tj ET Q q 0 0 0 rg BT 377.52 162.60 Td (to ) Tj ET Q q 0 0 0 rg BT 387.80 162.60 Td (the ) Tj ET Q q 0 0 0 rg BT 402.52 162.60 Td (prevention ) Tj ET Q q 0 0 0 rg BT 447.79 162.60 Td (of, ) Tj ET Q q 0 0 0 rg BT 461.12 162.60 Td (and ) Tj ET Q q 0 0 0 rg BT 478.06 162.60 Td (response ) Tj ET Q q 0 0 0 rg BT 515.55 162.60 Td (to, ) Tj ET Q q 0 0 0 rg BT 528.33 162.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 541.39 162.60 Td (spills ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td (into ) Tj ET Q q 0 0 0 rg BT 67.16 150.60 Td (waters ) Tj ET Q q 0 0 0 rg BT 95.37 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 105.80 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 120.13 150.60 Td (United ) Tj ET Q q 0 0 0 rg BT 149.45 150.60 Td (States; ) Tj ET Q q 0 0 0 rg BT 178.22 150.60 Td (\(5\) ) Tj ET Q q 0 0 0 rg BT 191.99 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 206.31 150.60 Td (Resource ) Tj ET Q q 0 0 0 rg BT 245.62 150.60 Td (Conservation ) Tj ET Q q 0 0 0 rg BT 301.05 150.60 Td (and ) Tj ET Q q 0 0 0 rg BT 317.60 150.60 Td (Recovery ) Tj ET Q q 0 0 0 rg BT 357.55 150.60 Td (Act, ) Tj ET Q q 0 0 0 rg BT 376.60 150.60 Td (which ) Tj ET Q q 0 0 0 rg BT 403.14 150.60 Td (is ) Tj ET Q q 0 0 0 rg BT 411.92 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 426.24 150.60 Td (principal ) Tj ET Q q 0 0 0 rg BT 463.89 150.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 493.75 150.60 Td (statute ) Tj ET Q q 0 0 0 rg BT 521.96 150.60 Td (governing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.26 138.60 Td (treatment, ) Tj ET Q q 0 0 0 rg BT 107.06 138.60 Td (storage ) Tj ET Q q 0 0 0 rg BT 138.47 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 155.45 138.60 Td (disposal ) Tj ET Q q 0 0 0 rg BT 190.77 138.60 Td (of ) Tj ET Q q 0 0 0 rg BT 201.64 138.60 Td (hazardous ) Tj ET Q q 0 0 0 rg BT 244.72 138.60 Td (wastes; ) Tj ET Q q 0 0 0 rg BT 276.70 138.60 Td (\(6\) ) Tj ET Q q 0 0 0 rg BT 290.90 138.60 Td (the ) Tj ET Q q 0 0 0 rg BT 305.66 138.60 Td (Endangered ) Tj ET Q q 0 0 0 rg BT 355.95 138.60 Td (Species ) Tj ET Q q 0 0 0 rg BT 388.48 138.60 Td (Act ) Tj ET Q q 0 0 0 rg BT 405.46 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 422.44 138.60 Td (counterpart ) Tj ET Q q 0 0 0 rg BT 470.51 138.60 Td (state ) Tj ET Q q 0 0 0 rg BT 491.37 138.60 Td (legislation, ) Tj ET Q q 0 0 0 rg BT 538.08 138.60 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.60 Td (protects ) Tj ET Q q 0 0 0 rg BT 83.66 126.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 113.38 126.60 Td (species ) Tj ET Q q 0 0 0 rg BT 144.76 126.60 Td (\(and ) Tj ET Q q 0 0 0 rg BT 165.04 126.60 Td (their ) Tj ET Q q 0 0 0 rg BT 185.87 126.60 Td (related ) Tj ET Q q 0 0 0 rg BT 215.58 126.60 Td (habitats\), ) Tj ET Q q 0 0 0 rg BT 255.03 126.60 Td (including ) Tj ET Q q 0 0 0 rg BT 295.31 126.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 325.02 126.60 Td (species ) Tj ET Q q 0 0 0 rg BT 356.40 126.60 Td (that ) Tj ET Q q 0 0 0 rg BT 373.91 126.60 Td (could ) Tj ET Q q 0 0 0 rg BT 398.63 126.60 Td (be ) Tj ET Q q 0 0 0 rg BT 410.58 126.60 Td (present ) Tj ET Q q 0 0 0 rg BT 441.97 126.60 Td (on ) Tj ET Q q 0 0 0 rg BT 454.48 126.60 Td (our ) Tj ET Q q 0 0 0 rg BT 470.31 126.60 Td (leases, ) Tj ET Q q 0 0 0 rg BT 499.20 126.60 Td (as ) Tj ET Q q 0 0 0 rg BT 510.04 126.60 Td (threatened ) Tj ET Q q 0 0 0 rg BT 554.19 126.60 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.60 Td (endangered; ) Tj ET Q q 0 0 0 rg BT 101.36 114.60 Td (and ) Tj ET Q q 0 0 0 rg BT 118.79 114.60 Td (\(7\) ) Tj ET Q q 0 0 0 rg BT 133.45 114.60 Td (state ) Tj ET Q q 0 0 0 rg BT 154.77 114.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 202.20 114.60 Td (and ) Tj ET Q q 0 0 0 rg BT 219.63 114.60 Td (statutes ) Tj ET Q q 0 0 0 rg BT 252.62 114.60 Td (governing ) Tj ET Q q 0 0 0 rg BT 296.17 114.60 Td (the ) Tj ET Q q 0 0 0 rg BT 311.38 114.60 Td (handling, ) Tj ET Q q 0 0 0 rg BT 351.87 114.60 Td (treatment, ) Tj ET Q q 0 0 0 rg BT 395.12 114.60 Td (storage ) Tj ET Q q 0 0 0 rg BT 427.00 114.60 Td (and ) Tj ET Q q 0 0 0 rg BT 444.43 114.60 Td (disposal ) Tj ET Q q 0 0 0 rg BT 480.20 114.60 Td (of ) Tj ET Q q 0 0 0 rg BT 491.53 114.60 Td (NORM ) Tj ET Q q 0 0 0 rg BT 524.53 114.60 Td (and ) Tj ET Q q 0 0 0 rg BT 541.96 114.60 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.60 Td (wastes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 78.60 Td (In ) Tj ET Q q 0 0 0 rg BT 78.72 78.60 Td (the ) Tj ET Q q 0 0 0 rg BT 93.83 78.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 122.83 78.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 164.61 78.60 Td (Region, ) Tj ET Q q 0 0 0 rg BT 198.89 78.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 229.54 78.60 Td (agencies�) Tj ET Q q 0 0 0 rg BT 266.55 78.60 Td ( ) Tj ET Q q 0 0 0 rg BT 269.45 78.60 Td (actions ) Tj ET Q q 0 0 0 rg BT 300.66 78.60 Td (based ) Tj ET Q q 0 0 0 rg BT 326.33 78.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 349.22 78.60 Td (their ) Tj ET Q q 0 0 0 rg BT 370.44 78.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 431.09 78.60 Td (review ) Tj ET Q q 0 0 0 rg BT 461.19 78.60 Td (responsibilities ) Tj ET Q q 0 0 0 rg BT 524.63 78.60 Td (under ) Tj ET Q q 0 0 0 rg BT 550.30 78.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.60 Td (National ) Tj ET Q q 0 0 0 rg BT 86.98 66.60 Td (Environmental ) Tj ET Q q 0 0 0 rg BT 149.46 66.60 Td (Policy ) Tj ET Q q 0 0 0 rg BT 177.40 66.60 Td (Act ) Tj ET Q q 0 0 0 rg BT 194.89 66.60 Td (can ) Tj ET Q q 0 0 0 rg BT 211.81 66.60 Td (significantly ) Tj ET Q q 0 0 0 rg BT 264.86 66.60 Td (impact ) Tj ET Q q 0 0 0 rg BT 295.12 66.60 Td (the ) Tj ET Q q 0 0 0 rg BT 310.39 66.60 Td (scope ) Tj ET Q q 0 0 0 rg BT 336.21 66.60 Td (and ) Tj ET Q q 0 0 0 rg BT 353.69 66.60 Td (timing ) Tj ET Q q 0 0 0 rg BT 382.86 66.60 Td (of ) Tj ET Q q 0 0 0 rg BT 394.24 66.60 Td (hydrocarbon ) Tj ET Q q 0 0 0 rg BT 447.83 66.60 Td (development ) Tj ET Q q 0 0 0 rg BT 502.53 66.60 Td (by ) Tj ET Q q 0 0 0 rg BT 515.58 66.60 Td (slowing ) Tj ET Q q 0 0 0 rg BT 550.30 66.60 Td (the ) Tj ET Q endstream endobj 49 0 obj <> endobj 50 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (timing ) Tj ET Q q 0 0 0 rg BT 78.18 726.60 Td (of ) Tj ET Q q 0 0 0 rg BT 89.08 726.60 Td (individual ) Tj ET Q q 0 0 0 rg BT 132.21 726.60 Td (applications ) Tj ET Q q 0 0 0 rg BT 183.10 726.60 Td (for ) Tj ET Q q 0 0 0 rg BT 197.33 726.60 Td (permits ) Tj ET Q q 0 0 0 rg BT 229.90 726.60 Td (to ) Tj ET Q q 0 0 0 rg BT 240.24 726.60 Td (drill ) Tj ET Q q 0 0 0 rg BT 259.48 726.60 Td (and ) Tj ET Q q 0 0 0 rg BT 276.49 726.60 Td (requests ) Tj ET Q q 0 0 0 rg BT 311.83 726.60 Td (for ) Tj ET Q q 0 0 0 rg BT 326.06 726.60 Td (rights-of-way) Tj ET Q q 0 0 0 rg BT 379.84 726.60 Td (, ) Tj ET Q q 0 0 0 rg BT 384.91 726.60 Td (and ) Tj ET Q q 0 0 0 rg BT 401.92 726.60 Td (delaying ) Tj ET Q q 0 0 0 rg BT 438.92 726.60 Td (lar) Tj ET Q q 0 0 0 rg BT 449.29 726.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 461.30 726.60 Td (scale ) Tj ET Q q 0 0 0 rg BT 483.86 726.60 Td (planning ) Tj ET Q q 0 0 0 rg BT 521.42 726.60 Td (associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (with ) Tj ET Q q 0 0 0 rg BT 69.78 714.60 Td (region-level ) Tj ET Q q 0 0 0 rg BT 120.59 714.60 Td (resource ) Tj ET Q q 0 0 0 rg BT 156.96 714.60 Td (management ) Tj ET Q q 0 0 0 rg BT 210.54 714.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 234.15 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 251.09 714.60 Td (project-level ) Tj ET Q q 0 0 0 rg BT 304.12 714.60 Td (master ) Tj ET Q q 0 0 0 rg BT 333.27 714.60 Td (development ) Tj ET Q q 0 0 0 rg BT 387.42 714.60 Td (plans.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 690.60 Td (Management ) Tj ET Q q 0 0 0 rg BT 123.80 690.60 Td (believes ) Tj ET Q q 0 0 0 rg BT 160.66 690.60 Td (that ) Tj ET Q q 0 0 0 rg BT 179.76 690.60 Td (we ) Tj ET Q q 0 0 0 rg BT 195.52 690.60 Td (are ) Tj ET Q q 0 0 0 rg BT 211.82 690.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 252.01 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 263.89 690.60 Td (substantial ) Tj ET Q q 0 0 0 rg BT 310.76 690.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 360.95 690.60 Td (with ) Tj ET Q q 0 0 0 rg BT 382.83 690.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 418.59 690.60 Td (applicable ) Tj ET Q q 0 0 0 rg BT 463.78 690.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 525.64 690.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 548.06 690.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 99.62 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 117.25 678.60 Td (does ) Tj ET Q q 0 0 0 rg BT 138.77 678.60 Td (not ) Tj ET Q q 0 0 0 rg BT 154.73 678.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 194.02 678.60 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 236.07 678.60 Td (that ) Tj ET Q q 0 0 0 rg BT 254.26 678.60 Td (future ) Tj ET Q q 0 0 0 rg BT 281.32 678.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 330.60 678.60 Td (will ) Tj ET Q q 0 0 0 rg BT 349.34 678.60 Td (have ) Tj ET Q q 0 0 0 rg BT 371.41 678.60 Td (a ) Tj ET Q q 0 0 0 rg BT 379.04 678.60 Td (materially ) Tj ET Q q 0 0 0 rg BT 422.76 678.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 456.49 678.60 Td (ef) Tj ET Q q 0 0 0 rg BT 464.08 678.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 482.25 678.60 Td (on ) Tj ET Q q 0 0 0 rg BT 495.44 678.60 Td (our ) Tj ET Q q 0 0 0 rg BT 511.96 678.60 Td (consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.72 666.60 Td (position, ) Tj ET Q q 0 0 0 rg BT 123.69 666.60 Td (results ) Tj ET Q q 0 0 0 rg BT 152.05 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 162.62 666.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 206.52 666.60 Td (or ) Tj ET Q q 0 0 0 rg BT 217.09 666.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 237.10 666.60 Td (flows, ) Tj ET Q q 0 0 0 rg BT 264.07 666.60 Td (although ) Tj ET Q q 0 0 0 rg BT 301.31 666.60 Td (such ) Tj ET Q q 0 0 0 rg BT 321.88 666.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 342.46 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 359.14 666.60 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 408.32 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 425.00 666.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 473.33 666.60 Td (therewith, ) Tj ET Q q 0 0 0 rg BT 515.84 666.60 Td (could ) Tj ET Q q 0 0 0 rg BT 540.30 666.60 Td (cause ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 94.11 654.60 Td (delays ) Tj ET Q q 0 0 0 rg BT 122.05 654.60 Td (or ) Tj ET Q q 0 0 0 rg BT 132.78 654.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 174.06 654.60 Td (impede ) Tj ET Q q 0 0 0 rg BT 205.89 654.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 252.44 654.60 Td (which ) Tj ET Q q 0 0 0 rg BT 279.28 654.60 Td (may) Tj ET Q q 0 0 0 rg BT 295.84 654.60 Td (, ) Tj ET Q q 0 0 0 rg BT 300.74 654.60 Td (among ) Tj ET Q q 0 0 0 rg BT 330.35 654.60 Td (other ) Tj ET Q q 0 0 0 rg BT 353.30 654.60 Td (things, ) Tj ET Q q 0 0 0 rg BT 382.64 654.60 Td (cause ) Tj ET Q q 0 0 0 rg BT 407.25 654.60 Td (our ) Tj ET Q q 0 0 0 rg BT 422.98 654.60 Td (expected ) Tj ET Q q 0 0 0 rg BT 460.91 654.60 Td (production ) Tj ET Q q 0 0 0 rg BT 506.63 654.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 527.90 654.60 Td (and ) Tj ET Q q 0 0 0 rg BT 544.74 654.60 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 74.22 642.60 Td (to ) Tj ET Q q 0 0 0 rg BT 84.50 642.60 Td (be ) Tj ET Q q 0 0 0 rg BT 96.44 642.60 Td (less ) Tj ET Q q 0 0 0 rg BT 113.94 642.60 Td (than ) Tj ET Q q 0 0 0 rg BT 133.66 642.60 Td (anticipated.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (Hydraulic ) Tj ET Q q 0 0 0 rg BT 95.33 618.60 Td (Fracturing) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 594.60 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.95 594.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.95 594.60 Td (, ) Tj ET Q q 0 0 0 rg BT 122.57 594.60 Td (we ) Tj ET Q q 0 0 0 rg BT 136.35 594.60 Td (fracture ) Tj ET Q q 0 0 0 rg BT 169.56 594.60 Td (stimulated ) Tj ET Q q 0 0 0 rg BT 213.34 594.60 Td (five ) Tj ET Q q 0 0 0 rg BT 231.00 594.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 254.23 594.60 Td (at ) Tj ET Q q 0 0 0 rg BT 263.57 594.60 Td (Bell ) Tj ET Q q 0 0 0 rg BT 282.36 594.60 Td (Creek ) Tj ET Q q 0 0 0 rg BT 308.35 594.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 331.03 594.60 Td (and ) Tj ET Q q 0 0 0 rg BT 347.59 594.60 Td (two ) Tj ET Q q 0 0 0 rg BT 364.71 594.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 387.94 594.60 Td (at ) Tj ET Q q 0 0 0 rg BT 397.12 594.60 Td (T) Tj ET Q q 0 0 0 rg BT 402.88 594.60 Td (insley ) Tj ET Q q 0 0 0 rg BT 428.89 594.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 451.57 594.60 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 487.02 594.60 Td (water) Tj ET Q q 0 0 0 rg BT 509.02 594.60 Td (-based ) Tj ET Q q 0 0 0 rg BT 537.24 594.60 Td (fluids. ) Tj ET Q q 0 0 0 rg BT 565.02 594.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 582.60 Td (e ) Tj ET Q q 0 0 0 rg BT 64.84 582.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 103.19 582.60 Td (have ) Tj ET Q q 0 0 0 rg BT 124.33 582.60 Td (plans ) Tj ET Q q 0 0 0 rg BT 147.70 582.60 Td (to ) Tj ET Q q 0 0 0 rg BT 157.74 582.60 Td (potentially ) Tj ET Q q 0 0 0 rg BT 202.78 582.60 Td (hydraulically ) Tj ET Q q 0 0 0 rg BT 257.80 582.60 Td (fracture ) Tj ET Q q 0 0 0 rg BT 291.14 582.60 Td (one ) Tj ET Q q 0 0 0 rg BT 307.84 582.60 Td (well ) Tj ET Q q 0 0 0 rg BT 327.32 582.60 Td (during ) Tj ET Q q 0 0 0 rg BT 355.69 582.60 Td (2019. ) Tj ET Q q 0 0 0 rg BT 380.46 582.60 Td ( ) Tj ET Q q 0 0 0 rg BT 382.55 582.60 Td (W) Tj ET Q q 0 0 0 rg BT 391.19 582.60 Td (e ) Tj ET Q q 0 0 0 rg BT 397.89 582.60 Td (are ) Tj ET Q q 0 0 0 rg BT 412.36 582.60 Td (familiar ) Tj ET Q q 0 0 0 rg BT 446.27 582.60 Td (with ) Tj ET Q q 0 0 0 rg BT 466.31 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 480.79 582.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 501.39 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 518.09 582.60 Td (regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (applicable ) Tj ET Q q 0 0 0 rg BT 93.09 570.60 Td (to ) Tj ET Q q 0 0 0 rg BT 103.37 570.60 Td (hydraulic ) Tj ET Q q 0 0 0 rg BT 143.63 570.60 Td (fracturing ) Tj ET Q q 0 0 0 rg BT 185.55 570.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 229.71 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 246.65 570.60 Td (take ) Tj ET Q q 0 0 0 rg BT 265.80 570.60 Td (steps ) Tj ET Q q 0 0 0 rg BT 288.30 570.60 Td (to ) Tj ET Q q 0 0 0 rg BT 298.58 570.60 Td (ensure ) Tj ET Q q 0 0 0 rg BT 327.18 570.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 375.77 570.60 Td (with ) Tj ET Q q 0 0 0 rg BT 396.05 570.60 Td (these ) Tj ET Q q 0 0 0 rg BT 419.09 570.60 Td (requirements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (NON-GAAP) Tj ET Q q 0 0 0 rg BT 102.83 546.60 Td ( ) Tj ET Q q 0 0 0 rg BT 105.33 546.60 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 161.45 546.60 Td ( ) Tj ET Q q 0 0 0 rg BT 163.95 546.60 Td (MEASURES ) Tj ET Q q 0 0 0 rg BT 221.46 546.60 Td (AND ) Tj ET Q q 0 0 0 rg BT 245.63 546.60 Td (RECONCILIA) Tj ET Q q 0 0 0 rg BT 309.90 546.60 Td (TIONS) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (Reconciliation ) Tj ET Q q 0 0 0 rg BT 113.10 522.60 Td (of ) Tj ET Q q 0 0 0 rg BT 123.93 522.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 183.67 522.60 Td (Measur) Tj ET Q q 0 0 0 rg BT 216.25 522.60 Td (e ) Tj ET Q q 0 0 0 rg BT 223.19 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 234.02 522.60 Td (PV) Tj ET Q q 0 0 0 rg BT 246.61 522.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 262.26 522.60 Td (V) Tj ET Q q 0 0 0 rg BT 268.56 522.60 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 498.60 Td (PV) Tj ET Q q 0 0 0 rg BT 79.37 498.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 94.71 498.60 Td (V) Tj ET Q q 0 0 0 rg BT 100.82 498.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 119.65 498.60 Td (is ) Tj ET Q q 0 0 0 rg BT 128.49 498.60 Td (a ) Tj ET Q q 0 0 0 rg BT 135.10 498.60 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 180.28 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 182.45 498.60 Td (measure ) Tj ET Q q 0 0 0 rg BT 217.94 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 234.55 498.60 Td (is ) Tj ET Q q 0 0 0 rg BT 243.39 498.60 Td (dif) Tj ET Q q 0 0 0 rg BT 254.32 498.60 Td (ferent ) Tj ET Q q 0 0 0 rg BT 279.80 498.60 Td (from ) Tj ET Q q 0 0 0 rg BT 301.41 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 315.80 498.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 370.17 498.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 406.77 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 416.72 498.60 Td (that ) Tj ET Q q 0 0 0 rg BT 433.88 498.60 Td (PV) Tj ET Q q 0 0 0 rg BT 445.75 498.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 461.09 498.60 Td (V) Tj ET Q q 0 0 0 rg BT 467.21 498.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 486.03 498.60 Td (is ) Tj ET Q q 0 0 0 rg BT 494.87 498.60 Td (a ) Tj ET Q q 0 0 0 rg BT 501.48 498.60 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 531.97 498.60 Td (number ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.00 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 80.28 486.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 134.55 486.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 171.04 486.60 Td (is ) Tj ET Q q 0 0 0 rg BT 179.77 486.60 Td (an ) Tj ET Q q 0 0 0 rg BT 191.27 486.60 Td (after) Tj ET Q q 0 0 0 rg BT 209.39 486.60 Td (-tax ) Tj ET Q q 0 0 0 rg BT 227.00 486.60 Td (number) Tj ET Q q 0 0 0 rg BT 256.99 486.60 Td (.��) Tj ET Q q 0 0 0 rg BT 264.31 486.60 Td (The ) Tj ET Q q 0 0 0 rg BT 281.92 486.60 Td (information ) Tj ET Q q 0 0 0 rg BT 331.20 486.60 Td (used ) Tj ET Q q 0 0 0 rg BT 351.59 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 361.43 486.60 Td (calculate ) Tj ET Q q 0 0 0 rg BT 399.02 486.60 Td (PV) Tj ET Q q 0 0 0 rg BT 410.89 486.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 426.13 486.60 Td (V) Tj ET Q q 0 0 0 rg BT 432.24 486.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 450.96 486.60 Td (is ) Tj ET Q q 0 0 0 rg BT 459.70 486.60 Td (derived ) Tj ET Q q 0 0 0 rg BT 491.74 486.60 Td (directly ) Tj ET Q q 0 0 0 rg BT 524.35 486.60 Td (from ) Tj ET Q q 0 0 0 rg BT 545.85 486.60 Td (data ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (determined ) Tj ET Q q 0 0 0 rg BT 98.87 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 111.04 474.60 Td (accordance ) Tj ET Q q 0 0 0 rg BT 160.38 474.60 Td (with ) Tj ET Q q 0 0 0 rg BT 182.55 474.60 Td (F) Tj ET Q q 0 0 0 rg BT 187.37 474.60 Td (ASC ) Tj ET Q q 0 0 0 rg BT 210.89 474.60 Td (T) Tj ET Q q 0 0 0 rg BT 216.30 474.60 Td (opic ) Tj ET Q q 0 0 0 rg BT 237.91 474.60 Td (932.��) Tj ET Q q 0 0 0 rg BT 260.23 474.60 Td (W) Tj ET Q q 0 0 0 rg BT 268.87 474.60 Td (e ) Tj ET Q q 0 0 0 rg BT 277.69 474.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 310.95 474.60 Td (that ) Tj ET Q q 0 0 0 rg BT 330.34 474.60 Td (PV) Tj ET Q q 0 0 0 rg BT 342.20 474.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 359.60 474.60 Td (V) Tj ET Q q 0 0 0 rg BT 365.72 474.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 386.76 474.60 Td (is ) Tj ET Q q 0 0 0 rg BT 397.82 474.60 Td (a ) Tj ET Q q 0 0 0 rg BT 406.65 474.60 Td (useful ) Tj ET Q q 0 0 0 rg BT 435.47 474.60 Td (supplemental ) Tj ET Q q 0 0 0 rg BT 493.18 474.60 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 538.12 474.60 Td (to ) Tj ET Q q 0 0 0 rg BT 550.28 474.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 105.17 462.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 143.06 462.60 Td (because ) Tj ET Q q 0 0 0 rg BT 178.17 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 193.85 462.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 249.51 462.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 287.40 462.60 Td (can ) Tj ET Q q 0 0 0 rg BT 304.74 462.60 Td (be ) Tj ET Q q 0 0 0 rg BT 317.65 462.60 Td (impacted ) Tj ET Q q 0 0 0 rg BT 357.76 462.60 Td (by ) Tj ET Q q 0 0 0 rg BT 371.22 462.60 Td (a ) Tj ET Q q 0 0 0 rg BT 379.13 462.60 Td (company�) Tj ET Q q 0 0 0 rg BT 418.56 462.60 Td (s ) Tj ET Q q 0 0 0 rg BT 425.91 462.60 Td (unique ) Tj ET Q q 0 0 0 rg BT 456.59 462.60 Td (tax ) Tj ET Q q 0 0 0 rg BT 472.27 462.60 Td (situation, ) Tj ET Q q 0 0 0 rg BT 512.68 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 530.58 462.60 Td (it ) Tj ET Q q 0 0 0 rg BT 539.60 462.60 Td (is ) Tj ET Q q 0 0 0 rg BT 549.74 462.60 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (practical ) Tj ET Q q 0 0 0 rg BT 86.69 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 97.23 450.60 Td (calculate ) Tj ET Q q 0 0 0 rg BT 135.53 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 150.52 450.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 205.49 450.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 242.68 450.60 Td (on ) Tj ET Q q 0 0 0 rg BT 255.45 450.60 Td (a ) Tj ET Q q 0 0 0 rg BT 262.66 450.60 Td (property-by-property ) Tj ET Q q 0 0 0 rg BT 349.84 450.60 Td (basis.��Because ) Tj ET Q q 0 0 0 rg BT 413.43 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 424.52 450.60 Td (this, ) Tj ET Q q 0 0 0 rg BT 444.24 450.60 Td (PV) Tj ET Q q 0 0 0 rg BT 456.11 450.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 472.00 450.60 Td (V) Tj ET Q q 0 0 0 rg BT 478.12 450.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 497.54 450.60 Td (is ) Tj ET Q q 0 0 0 rg BT 506.98 450.60 Td (a ) Tj ET Q q 0 0 0 rg BT 514.19 450.60 Td (widely ) Tj ET Q q 0 0 0 rg BT 544.17 450.60 Td (used ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.60 Td (measure ) Tj ET Q q 0 0 0 rg BT 84.63 438.60 Td (within ) Tj ET Q q 0 0 0 rg BT 112.01 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 126.04 438.60 Td (industry ) Tj ET Q q 0 0 0 rg BT 160.64 438.60 Td (and ) Tj ET Q q 0 0 0 rg BT 176.90 438.60 Td (is ) Tj ET Q q 0 0 0 rg BT 185.38 438.60 Td (commonly ) Tj ET Q q 0 0 0 rg BT 229.97 438.60 Td (used ) Tj ET Q q 0 0 0 rg BT 250.12 438.60 Td (by ) Tj ET Q q 0 0 0 rg BT 261.94 438.60 Td (securities ) Tj ET Q q 0 0 0 rg BT 301.52 438.60 Td (analysts, ) Tj ET Q q 0 0 0 rg BT 338.06 438.60 Td (banks ) Tj ET Q q 0 0 0 rg BT 363.20 438.60 Td (and ) Tj ET Q q 0 0 0 rg BT 379.46 438.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 404.04 438.60 Td (rating ) Tj ET Q q 0 0 0 rg BT 429.19 438.60 Td (agencies ) Tj ET Q q 0 0 0 rg BT 465.43 438.60 Td (to ) Tj ET Q q 0 0 0 rg BT 475.02 438.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 510.15 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 524.19 438.60 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (future ) Tj ET Q q 0 0 0 rg BT 77.15 426.60 Td (net ) Tj ET Q q 0 0 0 rg BT 93.13 426.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 114.67 426.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 140.66 426.60 Td (from ) Tj ET Q q 0 0 0 rg BT 163.87 426.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 195.40 426.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 231.93 426.60 Td (on ) Tj ET Q q 0 0 0 rg BT 245.70 426.60 Td (a ) Tj ET Q q 0 0 0 rg BT 253.91 426.60 Td (comparative ) Tj ET Q q 0 0 0 rg BT 307.09 426.60 Td (basis ) Tj ET Q q 0 0 0 rg BT 330.86 426.60 Td (across ) Tj ET Q q 0 0 0 rg BT 359.62 426.60 Td (companies ) Tj ET Q q 0 0 0 rg BT 406.15 426.60 Td (or ) Tj ET Q q 0 0 0 rg BT 418.25 426.60 Td (specific ) Tj ET Q q 0 0 0 rg BT 453.11 426.60 Td (properties.��PV) Tj ET Q q 0 0 0 rg BT 512.46 426.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 529.29 426.60 Td (V) Tj ET Q q 0 0 0 rg BT 535.40 426.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 555.83 426.60 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (commonly ) Tj ET Q q 0 0 0 rg BT 94.88 414.60 Td (used ) Tj ET Q q 0 0 0 rg BT 115.81 414.60 Td (by ) Tj ET Q q 0 0 0 rg BT 128.42 414.60 Td (us ) Tj ET Q q 0 0 0 rg BT 139.91 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 156.95 414.60 Td (others ) Tj ET Q q 0 0 0 rg BT 184.00 414.60 Td (in ) Tj ET Q q 0 0 0 rg BT 194.38 414.60 Td (our ) Tj ET Q q 0 0 0 rg BT 210.31 414.60 Td (industry ) Tj ET Q q 0 0 0 rg BT 245.69 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 256.08 414.60 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 291.99 414.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 334.58 414.60 Td (that ) Tj ET Q q 0 0 0 rg BT 352.18 414.60 Td (are ) Tj ET Q q 0 0 0 rg BT 366.99 414.60 Td (bought ) Tj ET Q q 0 0 0 rg BT 397.37 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 414.42 414.60 Td (sold, ) Tj ET Q q 0 0 0 rg BT 436.19 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 446.57 414.60 Td (assess ) Tj ET Q q 0 0 0 rg BT 473.62 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 488.44 414.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 526.03 414.60 Td (return ) Tj ET Q q 0 0 0 rg BT 552.52 414.60 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (investment ) Tj ET Q q 0 0 0 rg BT 96.09 402.60 Td (in ) Tj ET Q q 0 0 0 rg BT 106.57 402.60 Td (our ) Tj ET Q q 0 0 0 rg BT 122.61 402.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 135.87 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 153.02 402.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 183.49 402.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 199.52 402.60 Td (properties, ) Tj ET Q q 0 0 0 rg BT 244.72 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 261.86 402.60 Td (to ) Tj ET Q q 0 0 0 rg BT 272.35 402.60 Td (perform ) Tj ET Q q 0 0 0 rg BT 307.26 402.60 Td (our ) Tj ET Q q 0 0 0 rg BT 323.30 402.60 Td (impairment ) Tj ET Q q 0 0 0 rg BT 372.10 402.60 Td (testing ) Tj ET Q q 0 0 0 rg BT 401.47 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 412.51 402.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 425.77 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 442.92 402.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 473.39 402.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 489.43 402.60 Td (properties. ) Tj ET Q q 0 0 0 rg BT 534.62 402.60 Td ( ) Tj ET Q q 0 0 0 rg BT 537.32 402.60 Td (PV) Tj ET Q q 0 0 0 rg BT 549.19 402.60 Td (-10 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (V) Tj ET Q q 0 0 0 rg BT 55.61 390.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 74.17 390.60 Td (is ) Tj ET Q q 0 0 0 rg BT 82.74 390.60 Td (not ) Tj ET Q q 0 0 0 rg BT 97.41 390.60 Td (a ) Tj ET Q q 0 0 0 rg BT 103.75 390.60 Td (measure ) Tj ET Q q 0 0 0 rg BT 138.96 390.60 Td (of ) Tj ET Q q 0 0 0 rg BT 149.19 390.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 186.07 390.60 Td (or ) Tj ET Q q 0 0 0 rg BT 196.30 390.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 235.96 390.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 288.38 390.60 Td (under ) Tj ET Q q 0 0 0 rg BT 313.05 390.60 Td (GAAP) Tj ET Q q 0 0 0 rg BT 339.17 390.60 Td (, ) Tj ET Q q 0 0 0 rg BT 343.57 390.60 Td (nor ) Tj ET Q q 0 0 0 rg BT 358.79 390.60 Td (should ) Tj ET Q q 0 0 0 rg BT 387.36 390.60 Td (it ) Tj ET Q q 0 0 0 rg BT 394.82 390.60 Td (be ) Tj ET Q q 0 0 0 rg BT 406.15 390.60 Td (considered ) Tj ET Q q 0 0 0 rg BT 451.37 390.60 Td (in ) Tj ET Q q 0 0 0 rg BT 461.04 390.60 Td (isolation ) Tj ET Q q 0 0 0 rg BT 497.39 390.60 Td (or ) Tj ET Q q 0 0 0 rg BT 507.62 390.60 Td (as ) Tj ET Q q 0 0 0 rg BT 517.84 390.60 Td (a ) Tj ET Q q 0 0 0 rg BT 524.18 390.60 Td (substitute ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (for ) Tj ET Q q 0 0 0 rg BT 63.92 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 78.89 378.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 133.85 378.60 Td (Measure.��Our ) Tj ET Q q 0 0 0 rg BT 194.08 378.60 Td (PV) Tj ET Q q 0 0 0 rg BT 205.95 378.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 221.83 378.60 Td (V) Tj ET Q q 0 0 0 rg BT 227.95 378.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 247.36 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 264.55 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 279.52 378.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 334.48 378.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 371.66 378.60 Td (do ) Tj ET Q q 0 0 0 rg BT 384.42 378.60 Td (not ) Tj ET Q q 0 0 0 rg BT 399.95 378.60 Td (purport ) Tj ET Q q 0 0 0 rg BT 432.15 378.60 Td (to ) Tj ET Q q 0 0 0 rg BT 442.68 378.60 Td (represent ) Tj ET Q q 0 0 0 rg BT 482.08 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 497.05 378.60 Td (fair ) Tj ET Q q 0 0 0 rg BT 513.69 378.60 Td (value ) Tj ET Q q 0 0 0 rg BT 538.10 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 549.18 378.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 62.40 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 79.18 366.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 109.28 366.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 124.95 366.60 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 162.55 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 164.90 366.60 Td (See ) Tj ET Q q 0 0 0 rg BT 181.68 366.60 Td (also ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 200.13 366.60 Td (Glossary ) Tj ET Q q 0 0 0 rg BT 238.58 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 255.92 366.60 Td (Selected ) Tj ET Q q 0 0 0 rg BT 291.40 366.60 Td (Abbr) Tj ET Q q 0 0 0 rg BT 311.03 366.60 Td (eviations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.14 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 349.48 366.60 Td (for ) Tj ET Q q 0 0 0 rg BT 363.48 366.60 Td (the ) Tj ET Q q 0 0 0 rg BT 378.04 366.60 Td (definition ) Tj ET Q q 0 0 0 rg BT 419.26 366.60 Td (of ) Tj ET Q q 0 0 0 rg BT 429.93 366.60 Td (�PV) Tj ET Q q 0 0 0 rg BT 446.23 366.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 461.74 366.60 Td (V) Tj ET Q q 0 0 0 rg BT 467.85 366.60 Td (alue� ) Tj ET Q q 0 0 0 rg BT 491.29 366.60 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 508.06 366.60 Td (Supplemental ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 66.14 354.60 Td (and ) Tj ET Q q 0 0 0 rg BT 85.00 354.60 Td (Natural ) Tj ET Q q 0 0 0 rg BT 119.97 354.60 Td (Gas ) Tj ET Q q 0 0 0 rg BT 139.94 354.60 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 178.46 354.60 Td (es ) Tj ET Q q 0 0 0 rg BT 190.65 354.60 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.53 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 243.39 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 255.02 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 271.10 354.60 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 327.73 354.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 368.80 354.60 Td (Statements ) Tj ET Q q 0 0 0 rg BT 416.54 354.60 Td (for ) Tj ET Q q 0 0 0 rg BT 432.06 354.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 475.91 354.60 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 524.21 354.60 Td (about ) Tj ET Q q 0 0 0 rg BT 550.28 354.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 104.20 342.60 Td (Measure.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 318.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.55 318.60 Td (following ) Tj ET Q q 0 0 0 rg BT 126.93 318.60 Td (table ) Tj ET Q q 0 0 0 rg BT 148.87 318.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 185.81 318.60 Td (a ) Tj ET Q q 0 0 0 rg BT 192.74 318.60 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 250.22 318.60 Td (of ) Tj ET Q q 0 0 0 rg BT 261.05 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 275.77 318.60 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 330.47 318.60 Td (Measure ) Tj ET Q q 0 0 0 rg BT 367.40 318.60 Td (to ) Tj ET Q q 0 0 0 rg BT 377.68 318.60 Td (PV) Tj ET Q q 0 0 0 rg BT 389.54 318.60 Td (-10 ) Tj ET Q q 0 0 0 rg BT 405.19 318.60 Td (V) Tj ET Q q 0 0 0 rg BT 411.30 318.60 Td (alue ) Tj ET Q q 0 0 0 rg BT 430.46 318.60 Td (for ) Tj ET Q q 0 0 0 rg BT 444.62 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 459.34 318.60 Td (periods ) Tj ET Q q 0 0 0 rg BT 491.27 318.60 Td (indicated:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 278.10 315.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 365.00 278.10 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 278.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 432.00 278.10 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.00 278.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 499.00 278.10 64.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 248.10 315.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 365.00 248.10 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 248.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 432.00 248.10 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.00 248.10 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 499.00 248.10 64.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 293.1 m 428 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 293.1 m 432 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 293.1 m 495 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 293.1 m 499 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 293.1 m 563 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 278.1 m 365 278.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 293.1 m 428 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 278.1 m 428 278.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 293.1 m 495 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 278.1 m 495 278.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 293.1 m 563 293.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 278.1 m 563 278.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 278.1 m 428 278.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 278.1 m 495 278.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 278.1 m 563 278.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 248.10000000000002 m 428 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 234.10000000000002 m 428 234.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 365 232.10000000000002 m 428 232.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 248.10000000000002 m 495 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 234.10000000000002 m 495 234.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 232.10000000000002 m 495 232.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 248.10000000000002 m 563 248.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 234.10000000000002 m 563 234.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 232.10000000000002 m 563 232.10000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 297.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.95 297.77 Td (Y) Tj ET Q q 0 0 0 rg BT 417.67 297.77 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 282.81 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.00 282.77 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 282.77 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.50 282.77 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 267.78 Td (Standardized Measur) Tj ET Q q 0 0 0 rg BT 144.82 267.78 Td (e \(GAAP) Tj ET Q q 0 0 0 rg BT 182.87 267.78 Td ( measur) Tj ET Q q 0 0 0 rg BT 216.85 267.78 Td (e\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.50 267.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 267.77 Td (3,351,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 267.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 267.77 Td (2,232,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 267.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 267.77 Td (1,399,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 252.77 Td (Discounted estimated future income tax) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.65 252.77 Td (673,754) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 252.77 Td (301,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 252.77 Td (142,467) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.50 237.77 Td (PV) Tj ET Q q 0 0 0 rg BT 73.37 237.77 Td (-10 ) Tj ET Q q 0 0 0 rg BT 89.01 237.77 Td (V) Tj ET Q q 0 0 0 rg BT 95.13 237.77 Td (alue \(non-GAAP) Tj ET Q q 0 0 0 rg BT 162.80 237.77 Td ( measure\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.50 237.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.15 237.77 Td (4,025,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 237.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.15 237.77 Td (2,533,798) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 237.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 237.77 Td (1,541,684) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 204.20 Td (Reconciliation of Net Income to ) Tj ET Q q 0 0 0 rg BT 185.86 204.20 Td (Adjusted EBITDAX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 180.20 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 105.37 180.20 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 151.02 180.20 Td (is ) Tj ET Q q 0 0 0 rg BT 159.45 180.20 Td (a ) Tj ET Q q 0 0 0 rg BT 165.65 180.20 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 210.83 180.20 Td ( ) Tj ET Q q 0 0 0 rg BT 212.60 180.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 249.34 180.20 Td (measure ) Tj ET Q q 0 0 0 rg BT 284.42 180.20 Td (which ) Tj ET Q q 0 0 0 rg BT 310.62 180.20 Td (management ) Tj ET Q q 0 0 0 rg BT 363.47 180.20 Td (uses ) Tj ET Q q 0 0 0 rg BT 382.46 180.20 Td (and ) Tj ET Q q 0 0 0 rg BT 398.66 180.20 Td (is ) Tj ET Q q 0 0 0 rg BT 407.09 180.20 Td (calculated ) Tj ET Q q 0 0 0 rg BT 449.38 180.20 Td (based ) Tj ET Q q 0 0 0 rg BT 473.91 180.20 Td (upon ) Tj ET Q q 0 0 0 rg BT 495.67 180.20 Td (\(but ) Tj ET Q q 0 0 0 rg BT 513.54 180.20 Td (not ) Tj ET Q q 0 0 0 rg BT 528.09 180.20 Td (identical ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 168.20 Td (to\) ) Tj ET Q q 0 0 0 rg BT 63.60 168.20 Td (a ) Tj ET Q q 0 0 0 rg BT 71.02 168.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 108.99 168.20 Td (covenant ) Tj ET Q q 0 0 0 rg BT 148.07 168.20 Td (related ) Tj ET Q q 0 0 0 rg BT 178.26 168.20 Td (to ) Tj ET Q q 0 0 0 rg BT 189.03 168.20 Td (�Consolidated ) Tj ET Q q 0 0 0 rg BT 249.22 168.20 Td (EBITDAX� ) Tj ET Q q 0 0 0 rg BT 300.53 168.20 Td (in ) Tj ET Q q 0 0 0 rg BT 311.30 168.20 Td (our ) Tj ET Q q 0 0 0 rg BT 327.62 168.20 Td (senior ) Tj ET Q q 0 0 0 rg BT 355.04 168.20 Td (secured ) Tj ET Q q 0 0 0 rg BT 388.57 168.20 Td (bank ) Tj ET Q q 0 0 0 rg BT 410.99 168.20 Td (credit ) Tj ET Q q 0 0 0 rg BT 436.74 168.20 Td (facility) Tj ET Q q 0 0 0 rg BT 464.41 168.20 Td (, ) Tj ET Q q 0 0 0 rg BT 469.90 168.20 Td (which ) Tj ET Q q 0 0 0 rg BT 497.33 168.20 Td (excludes ) Tj ET Q q 0 0 0 rg BT 535.30 168.20 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 156.20 Td (items ) Tj ET Q q 0 0 0 rg BT 74.03 156.20 Td (that ) Tj ET Q q 0 0 0 rg BT 91.89 156.20 Td (are ) Tj ET Q q 0 0 0 rg BT 106.97 156.20 Td (included ) Tj ET Q q 0 0 0 rg BT 144.27 156.20 Td (in ) Tj ET Q q 0 0 0 rg BT 154.91 156.20 Td (net ) Tj ET Q q 0 0 0 rg BT 169.99 156.20 Td (income, ) Tj ET Q q 0 0 0 rg BT 204.79 156.20 Td (the ) Tj ET Q q 0 0 0 rg BT 219.88 156.20 Td (most ) Tj ET Q q 0 0 0 rg BT 242.19 156.20 Td (directly ) Tj ET Q q 0 0 0 rg BT 275.60 156.20 Td (comparable ) Tj ET Q q 0 0 0 rg BT 325.11 156.20 Td (GAAP) Tj ET Q q 0 0 0 rg BT 351.96 156.20 Td ( ) Tj ET Q q 0 0 0 rg BT 354.83 156.20 Td (financial ) Tj ET Q q 0 0 0 rg BT 392.67 156.20 Td (measure. ) Tj ET Q q 0 0 0 rg BT 431.36 156.20 Td ( ) Tj ET Q q 0 0 0 rg BT 434.22 156.20 Td (Items ) Tj ET Q q 0 0 0 rg BT 459.30 156.20 Td (excluded ) Tj ET Q q 0 0 0 rg BT 498.26 156.20 Td (include ) Tj ET Q q 0 0 0 rg BT 530.56 156.20 Td (interest, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 144.20 Td (income ) Tj ET Q q 0 0 0 rg BT 80.81 144.20 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 105.74 144.20 Td (depletion, ) Tj ET Q q 0 0 0 rg BT 147.32 144.20 Td (depreciation, ) Tj ET Q q 0 0 0 rg BT 201.12 144.20 Td (and ) Tj ET Q q 0 0 0 rg BT 217.44 144.20 Td (amortization, ) Tj ET Q q 0 0 0 rg BT 272.35 144.20 Td (and ) Tj ET Q q 0 0 0 rg BT 288.67 144.20 Td (items ) Tj ET Q q 0 0 0 rg BT 312.21 144.20 Td (that ) Tj ET Q q 0 0 0 rg BT 329.08 144.20 Td (the ) Tj ET Q q 0 0 0 rg BT 343.18 144.20 Td (Company ) Tj ET Q q 0 0 0 rg BT 383.94 144.20 Td (believes ) Tj ET Q q 0 0 0 rg BT 418.58 144.20 Td (af) Tj ET Q q 0 0 0 rg BT 426.17 144.20 Td (fect ) Tj ET Q q 0 0 0 rg BT 443.03 144.20 Td (the ) Tj ET Q q 0 0 0 rg BT 457.13 144.20 Td (comparability ) Tj ET Q q 0 0 0 rg BT 514.54 144.20 Td (of ) Tj ET Q q 0 0 0 rg BT 524.75 144.20 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 132.20 Td (results ) Tj ET Q q 0 0 0 rg BT 78.59 132.20 Td (such ) Tj ET Q q 0 0 0 rg BT 99.90 132.20 Td (as ) Tj ET Q q 0 0 0 rg BT 111.21 132.20 Td (items ) Tj ET Q q 0 0 0 rg BT 135.85 132.20 Td (whose ) Tj ET Q q 0 0 0 rg BT 164.39 132.20 Td (timing ) Tj ET Q q 0 0 0 rg BT 193.48 132.20 Td (and/or ) Tj ET Q q 0 0 0 rg BT 222.01 132.20 Td (amount ) Tj ET Q q 0 0 0 rg BT 254.98 132.20 Td (cannot ) Tj ET Q q 0 0 0 rg BT 284.62 132.20 Td (be ) Tj ET Q q 0 0 0 rg BT 297.03 132.20 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 343.33 132.20 Td (estimated ) Tj ET Q q 0 0 0 rg BT 384.63 132.20 Td (or ) Tj ET Q q 0 0 0 rg BT 395.94 132.20 Td (are ) Tj ET Q q 0 0 0 rg BT 411.13 132.20 Td (non-recurring. ) Tj ET Q q 0 0 0 rg BT 471.58 132.20 Td ( ) Tj ET Q q 0 0 0 rg BT 474.56 132.20 Td (Management ) Tj ET Q q 0 0 0 rg BT 529.74 132.20 Td (believes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 120.20 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 87.07 120.20 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 132.42 120.20 Td (may ) Tj ET Q q 0 0 0 rg BT 151.10 120.20 Td (be ) Tj ET Q q 0 0 0 rg BT 162.00 120.20 Td (helpful ) Tj ET Q q 0 0 0 rg BT 191.79 120.20 Td (to ) Tj ET Q q 0 0 0 rg BT 201.03 120.20 Td (investors ) Tj ET Q q 0 0 0 rg BT 238.60 120.20 Td (in ) Tj ET Q q 0 0 0 rg BT 247.85 120.20 Td (order ) Tj ET Q q 0 0 0 rg BT 270.41 120.20 Td (to ) Tj ET Q q 0 0 0 rg BT 279.65 120.20 Td (assess ) Tj ET Q q 0 0 0 rg BT 305.56 120.20 Td (our ) Tj ET Q q 0 0 0 rg BT 320.35 120.20 Td (operating ) Tj ET Q q 0 0 0 rg BT 359.58 120.20 Td (performance ) Tj ET Q q 0 0 0 rg BT 411.57 120.20 Td (as ) Tj ET Q q 0 0 0 rg BT 421.36 120.20 Td (compared ) Tj ET Q q 0 0 0 rg BT 462.25 120.20 Td (to ) Tj ET Q q 0 0 0 rg BT 471.49 120.20 Td (that ) Tj ET Q q 0 0 0 rg BT 487.95 120.20 Td (of ) Tj ET Q q 0 0 0 rg BT 497.74 120.20 Td (other ) Tj ET Q q 0 0 0 rg BT 519.75 120.20 Td (companies ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 108.20 Td (in ) Tj ET Q q 0 0 0 rg BT 59.69 108.20 Td (our ) Tj ET Q q 0 0 0 rg BT 75.44 108.20 Td (industry) Tj ET Q q 0 0 0 rg BT 107.56 108.20 Td (, ) Tj ET Q q 0 0 0 rg BT 112.48 108.20 Td (without ) Tj ET Q q 0 0 0 rg BT 145.45 108.20 Td (regard ) Tj ET Q q 0 0 0 rg BT 173.40 108.20 Td (to ) Tj ET Q q 0 0 0 rg BT 183.59 108.20 Td (financing ) Tj ET Q q 0 0 0 rg BT 223.77 108.20 Td (methods, ) Tj ET Q q 0 0 0 rg BT 262.57 108.20 Td (capital ) Tj ET Q q 0 0 0 rg BT 291.63 108.20 Td (structure ) Tj ET Q q 0 0 0 rg BT 329.03 108.20 Td (or ) Tj ET Q q 0 0 0 rg BT 339.77 108.20 Td (historical ) Tj ET Q q 0 0 0 rg BT 379.40 108.20 Td (costs ) Tj ET Q q 0 0 0 rg BT 401.81 108.20 Td (basis. ) Tj ET Q q 0 0 0 rg BT 426.73 108.20 Td ( ) Tj ET Q q 0 0 0 rg BT 429.14 108.20 Td (It ) Tj ET Q q 0 0 0 rg BT 437.66 108.20 Td (is ) Tj ET Q q 0 0 0 rg BT 446.75 108.20 Td (also ) Tj ET Q q 0 0 0 rg BT 465.27 108.20 Td (commonly ) Tj ET Q q 0 0 0 rg BT 510.46 108.20 Td (used ) Tj ET Q q 0 0 0 rg BT 531.20 108.20 Td (by ) Tj ET Q q 0 0 0 rg BT 543.61 108.20 Td (third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 96.20 Td (parties ) Tj ET Q q 0 0 0 rg BT 78.35 96.20 Td (to ) Tj ET Q q 0 0 0 rg BT 88.32 96.20 Td (assess ) Tj ET Q q 0 0 0 rg BT 114.96 96.20 Td (the ) Tj ET Q q 0 0 0 rg BT 129.37 96.20 Td (Company�) Tj ET Q q 0 0 0 rg BT 171.03 96.20 Td (s ) Tj ET Q q 0 0 0 rg BT 177.12 96.20 Td (leverage ) Tj ET Q q 0 0 0 rg BT 213.18 96.20 Td (and ) Tj ET Q q 0 0 0 rg BT 229.81 96.20 Td (ability ) Tj ET Q q 0 0 0 rg BT 257.55 96.20 Td (to ) Tj ET Q q 0 0 0 rg BT 267.53 96.20 Td (incur ) Tj ET Q q 0 0 0 rg BT 290.27 96.20 Td (and ) Tj ET Q q 0 0 0 rg BT 306.90 96.20 Td (service ) Tj ET Q q 0 0 0 rg BT 337.41 96.20 Td (debt ) Tj ET Q q 0 0 0 rg BT 356.82 96.20 Td (and ) Tj ET Q q 0 0 0 rg BT 373.45 96.20 Td (fund ) Tj ET Q q 0 0 0 rg BT 393.98 96.20 Td (capital ) Tj ET Q q 0 0 0 rg BT 422.82 96.20 Td (expenditures. ) Tj ET Q q 0 0 0 rg BT 478.61 96.20 Td ( ) Tj ET Q q 0 0 0 rg BT 480.32 96.20 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 518.62 96.20 Td (EBITDAX ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 84.20 Td (should ) Tj ET Q q 0 0 0 rg BT 78.39 84.20 Td (not ) Tj ET Q q 0 0 0 rg BT 93.38 84.20 Td (be ) Tj ET Q q 0 0 0 rg BT 105.04 84.20 Td (considered ) Tj ET Q q 0 0 0 rg BT 150.58 84.20 Td (in ) Tj ET Q q 0 0 0 rg BT 160.57 84.20 Td (isolation, ) Tj ET Q q 0 0 0 rg BT 199.73 84.20 Td (as ) Tj ET Q q 0 0 0 rg BT 210.28 84.20 Td (a ) Tj ET Q q 0 0 0 rg BT 216.94 84.20 Td (substitute ) Tj ET Q q 0 0 0 rg BT 257.49 84.20 Td (for) Tj ET Q q 0 0 0 rg BT 268.75 84.20 Td (, ) Tj ET Q q 0 0 0 rg BT 273.47 84.20 Td (or ) Tj ET Q q 0 0 0 rg BT 284.02 84.20 Td (more ) Tj ET Q q 0 0 0 rg BT 306.78 84.20 Td (meaningful ) Tj ET Q q 0 0 0 rg BT 354.54 84.20 Td (than, ) Tj ET Q q 0 0 0 rg BT 376.48 84.20 Td (net ) Tj ET Q q 0 0 0 rg BT 390.91 84.20 Td (income, ) Tj ET Q q 0 0 0 rg BT 425.07 84.20 Td (cash ) Tj ET Q q 0 0 0 rg BT 445.05 84.20 Td (flows ) Tj ET Q q 0 0 0 rg BT 469.49 84.20 Td (from ) Tj ET Q q 0 0 0 rg BT 491.15 84.20 Td (operations, ) Tj ET Q q 0 0 0 rg BT 537.52 84.20 Td (or ) Tj ET Q q 0 0 0 rg BT 548.07 84.20 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 72.20 Td (other ) Tj ET Q q 0 0 0 rg BT 72.06 72.20 Td (measure ) Tj ET Q q 0 0 0 rg BT 107.39 72.20 Td (reported ) Tj ET Q q 0 0 0 rg BT 142.72 72.20 Td (in ) Tj ET Q q 0 0 0 rg BT 152.51 72.20 Td (accordance ) Tj ET Q q 0 0 0 rg BT 199.48 72.20 Td (with ) Tj ET Q q 0 0 0 rg BT 219.27 72.20 Td (GAAP) Tj ET Q q 0 0 0 rg BT 245.39 72.20 Td (. ) Tj ET Q q 0 0 0 rg BT 249.91 72.20 Td ( ) Tj ET Q q 0 0 0 rg BT 251.77 72.20 Td (The ) Tj ET Q q 0 0 0 rg BT 269.33 72.20 Td (Company�) Tj ET Q q 0 0 0 rg BT 311.00 72.20 Td (s ) Tj ET Q q 0 0 0 rg BT 316.46 72.20 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 354.58 72.20 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 400.48 72.20 Td (may ) Tj ET Q q 0 0 0 rg BT 419.71 72.20 Td (not ) Tj ET Q q 0 0 0 rg BT 434.50 72.20 Td (be ) Tj ET Q q 0 0 0 rg BT 445.95 72.20 Td (comparable ) Tj ET Q q 0 0 0 rg BT 494.60 72.20 Td (to ) Tj ET Q q 0 0 0 rg BT 504.39 72.20 Td (similarly ) Tj ET Q q 0 0 0 rg BT 541.96 72.20 Td (titled ) Tj ET Q endstream endobj 51 0 obj <> endobj 52 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (measures ) Tj ET Q q 0 0 0 rg BT 88.92 726.60 Td (of ) Tj ET Q q 0 0 0 rg BT 99.45 726.60 Td (another ) Tj ET Q q 0 0 0 rg BT 131.65 726.60 Td (company ) Tj ET Q q 0 0 0 rg BT 170.51 726.60 Td (because ) Tj ET Q q 0 0 0 rg BT 204.37 726.60 Td (all ) Tj ET Q q 0 0 0 rg BT 216.57 726.60 Td (companies ) Tj ET Q q 0 0 0 rg BT 261.54 726.60 Td (may ) Tj ET Q q 0 0 0 rg BT 280.97 726.60 Td (not ) Tj ET Q q 0 0 0 rg BT 295.95 726.60 Td (calculate ) Tj ET Q q 0 0 0 rg BT 333.20 726.60 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 371.52 726.60 Td (EBITDAX, ) Tj ET Q q 0 0 0 rg BT 420.11 726.60 Td (EBITDAX, ) Tj ET Q q 0 0 0 rg BT 468.70 726.60 Td (or ) Tj ET Q q 0 0 0 rg BT 479.24 726.60 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 515.35 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 517.55 726.60 Td (in ) Tj ET Q q 0 0 0 rg BT 527.54 726.60 Td (the ) Tj ET Q q 0 0 0 rg BT 541.97 726.60 Td (same ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (manner) Tj ET Q q 0 0 0 rg BT 78.93 714.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 690.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.55 690.60 Td (following ) Tj ET Q q 0 0 0 rg BT 126.93 690.60 Td (table ) Tj ET Q q 0 0 0 rg BT 148.87 690.60 Td (presents ) Tj ET Q q 0 0 0 rg BT 184.14 690.60 Td (a ) Tj ET Q q 0 0 0 rg BT 191.07 690.60 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 248.55 690.60 Td (of ) Tj ET Q q 0 0 0 rg BT 259.38 690.60 Td (our ) Tj ET Q q 0 0 0 rg BT 275.21 690.60 Td (net ) Tj ET Q q 0 0 0 rg BT 289.93 690.60 Td (income ) Tj ET Q q 0 0 0 rg BT 321.86 690.60 Td (to ) Tj ET Q q 0 0 0 rg BT 331.59 690.60 Td (Adjusted ) Tj ET Q q 0 0 0 rg BT 370.20 690.60 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 416.58 690.60 Td (for ) Tj ET Q q 0 0 0 rg BT 430.74 690.60 Td (the ) Tj ET Q q 0 0 0 rg BT 445.45 690.60 Td (periods ) Tj ET Q q 0 0 0 rg BT 477.39 690.60 Td (indicated:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 654.10 379.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 654.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 432.00 654.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.00 654.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 499.00 654.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 628.10 379.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 628.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 432.00 628.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.00 628.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 499.00 628.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 602.10 379.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 602.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 432.00 602.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.00 602.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 499.00 602.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 576.10 379.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 576.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 432.00 576.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.00 576.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 499.00 576.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 548.10 379.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 548.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 432.00 548.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.00 548.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 499.00 548.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 522.10 379.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 522.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 432.00 522.10 63.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.00 522.10 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 499.00 522.10 63.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 667.1 m 495 667.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495 667.1 m 499 667.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 667.1 m 562 667.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 654.1 m 428 654.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 654.1 m 495 654.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 654.1 m 562 654.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 654.1 m 428 654.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 654.1 m 495 654.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 654.1 m 562 654.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 522.1 m 495 522.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 510.1 m 495 510.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 432 508.1 m 495 508.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 522.1 m 562 522.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 510.1 m 562 510.1 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 499 508.1 m 562 508.1 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 658.81 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.95 670.67 Td (Y) Tj ET Q q 0 0 0 rg BT 450.67 670.67 Td (ear Ended December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.00 657.67 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 657.67 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 644.67 Td (Net income \(GAAP) Tj ET Q q 0 0 0 rg BT 130.74 644.67 Td ( measure\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 644.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 644.67 Td (322,698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 644.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 644.67 Td (163,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 631.67 Td (Adjustments to reconcile to ) Tj ET Q q 0 0 0 rg BT 163.98 631.67 Td (Adjusted EBITDAX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 618.67 Td (Interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 618.67 Td (69,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 618.67 Td (99,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 605.67 Td (Income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 605.67 Td (87,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 605.72 Td (\(1) Tj ET Q q 0 0 0 rg BT 530.63 605.72 Td (16,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 605.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 592.67 Td (Depletion, depreciation, and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 592.67 Td (216,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 592.67 Td (207,713) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 579.67 Td (Noncash fair value adjustments on commodity derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 455.30 579.72 Td (\(196,335) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 491.15 579.67 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 579.67 Td (29,781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 566.67 Td (Stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 566.67 Td (1) Tj ET Q q 0 0 0 rg BT 468.65 566.67 Td (1,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 566.67 Td (15,154) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 552.77 Td (Accrued expense related to litigation over a helium supply contract) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 552.77 Td (49,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 552.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 538.67 Td (Impairment of loan receivable and related assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.65 538.67 Td (17,805) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 538.67 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 525.67 Td (Noncash, non-recurring and other) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 198.45 530.20 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.65 525.67 Td (5,504) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 525.67 Td (23,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 512.67 Td (Adjusted EBITDAX \(non-GAAP) Tj ET Q q 0 0 0 rg BT 185.01 512.67 Td ( measure\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.50 512.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.65 512.67 Td (584,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.50 512.67 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 512.67 Td (421,769) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 494.60 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 494.60 Td (Excludes ) Tj ET Q q 0 0 0 rg BT 107.09 494.60 Td (pro ) Tj ET Q q 0 0 0 rg BT 123.35 494.60 Td (forma ) Tj ET Q q 0 0 0 rg BT 150.16 494.60 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 200.87 494.60 Td (related ) Tj ET Q q 0 0 0 rg BT 231.01 494.60 Td (to ) Tj ET Q q 0 0 0 rg BT 241.72 494.60 Td (qualified ) Tj ET Q q 0 0 0 rg BT 280.19 494.60 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 330.90 494.60 Td (or ) Tj ET Q q 0 0 0 rg BT 342.16 494.60 Td (dispositions ) Tj ET Q q 0 0 0 rg BT 392.89 494.60 Td (under ) Tj ET Q q 0 0 0 rg BT 418.59 494.60 Td (the ) Tj ET Q q 0 0 0 rg BT 433.74 494.60 Td (Company�) Tj ET Q q 0 0 0 rg BT 475.40 494.60 Td (s ) Tj ET Q q 0 0 0 rg BT 482.23 494.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 509.60 494.60 Td (secured ) Tj ET Q q 0 0 0 rg BT 543.07 494.60 Td (bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 482.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 92.76 482.60 Td (facility) Tj ET Q q 0 0 0 rg BT 120.43 482.60 Td (.) Tj ET Q endstream endobj 53 0 obj <> endobj 54 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (26) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 725.18505859375 m 145.8720703125 725.18505859375 l s q 0 0 0 rg BT 49.50 726.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 71.99 726.75 Td (1A.��Risk ) Tj ET Q q 0 0 0 rg BT 113.67 726.75 Td (Factors) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 702.75 Td (Oil ) Tj ET Q q 0 0 0 rg BT 65.93 702.75 Td (and ) Tj ET Q q 0 0 0 rg BT 85.14 702.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 119.90 702.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 136.89 702.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 165.53 702.75 Td (ar) Tj ET Q q 0 0 0 rg BT 174.79 702.75 Td (e ) Tj ET Q q 0 0 0 rg BT 182.32 702.75 Td (volatile. ) Tj ET Q q 0 0 0 rg BT 219.01 702.75 Td ( ) Tj ET Q q 0 0 0 rg BT 221.42 702.75 Td (A) Tj ET Q q 0 0 0 rg BT 228.09 702.75 Td ( ) Tj ET Q q 0 0 0 rg BT 231.18 702.75 Td (sustained ) Tj ET Q q 0 0 0 rg BT 274.29 702.75 Td (period ) Tj ET Q q 0 0 0 rg BT 305.16 702.75 Td (of ) Tj ET Q q 0 0 0 rg BT 316.58 702.75 Td (deterioration ) Tj ET Q q 0 0 0 rg BT 375.77 702.75 Td (of ) Tj ET Q q 0 0 0 rg BT 387.19 702.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 400.84 702.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 429.48 702.75 Td (is ) Tj ET Q q 0 0 0 rg BT 439.24 702.75 Td (likely ) Tj ET Q q 0 0 0 rg BT 465.67 702.75 Td (to ) Tj ET Q q 0 0 0 rg BT 477.09 702.75 Td (adversely ) Tj ET Q q 0 0 0 rg BT 520.73 702.75 Td (affect ) Tj ET Q q 0 0 0 rg BT 547.69 702.75 Td (our) Tj ET Q q 0 0 0 rg BT 562.51 702.75 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 690.75 Td (futur) Tj ET Q q 0 0 0 rg BT 71.54 690.75 Td (e ) Tj ET Q q 0 0 0 rg BT 78.48 690.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 118.21 690.75 Td (condition, ) Tj ET Q q 0 0 0 rg BT 163.22 690.75 Td (r) Tj ET Q q 0 0 0 rg BT 167.47 690.75 Td (esults ) Tj ET Q q 0 0 0 rg BT 193.87 690.75 Td (of ) Tj ET Q q 0 0 0 rg BT 204.70 690.75 Td (operations, ) Tj ET Q q 0 0 0 rg BT 254.70 690.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 276.09 690.75 Td (flows ) Tj ET Q q 0 0 0 rg BT 300.81 690.75 Td (and ) Tj ET Q q 0 0 0 rg BT 319.43 690.75 Td (the ) Tj ET Q q 0 0 0 rg BT 335.26 690.75 Td (carrying ) Tj ET Q q 0 0 0 rg BT 374.42 690.75 Td (value ) Tj ET Q q 0 0 0 rg BT 399.70 690.75 Td (of ) Tj ET Q q 0 0 0 rg BT 410.53 690.75 Td (our) Tj ET Q q 0 0 0 rg BT 425.34 690.75 Td ( ) Tj ET Q q 0 0 0 rg BT 427.84 690.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 440.90 690.75 Td (and ) Tj ET Q q 0 0 0 rg BT 459.52 690.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 493.69 690.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 510.09 690.75 Td (pr) Tj ET Q q 0 0 0 rg BT 519.91 690.75 Td (operties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 666.75 Td (Oil ) Tj ET Q q 0 0 0 rg BT 83.34 666.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 110.28 666.75 Td (are ) Tj ET Q q 0 0 0 rg BT 125.55 666.75 Td (the ) Tj ET Q q 0 0 0 rg BT 140.83 666.75 Td (most ) Tj ET Q q 0 0 0 rg BT 163.35 666.75 Td (important ) Tj ET Q q 0 0 0 rg BT 205.29 666.75 Td (determinant ) Tj ET Q q 0 0 0 rg BT 256.12 666.75 Td (of ) Tj ET Q q 0 0 0 rg BT 267.51 666.75 Td (our ) Tj ET Q q 0 0 0 rg BT 283.90 666.75 Td (operational ) Tj ET Q q 0 0 0 rg BT 331.95 666.75 Td (and ) Tj ET Q q 0 0 0 rg BT 349.45 666.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 387.50 666.75 Td (success. ) Tj ET Q q 0 0 0 rg BT 423.05 666.75 Td ( ) Tj ET Q q 0 0 0 rg BT 426.11 666.75 Td (Oil ) Tj ET Q q 0 0 0 rg BT 441.96 666.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 468.90 666.75 Td (are ) Tj ET Q q 0 0 0 rg BT 484.17 666.75 Td (highly ) Tj ET Q q 0 0 0 rg BT 512.79 666.75 Td (impacted ) Tj ET Q q 0 0 0 rg BT 552.50 666.75 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.75 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 95.35 654.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 108.99 654.75 Td (supply) Tj ET Q q 0 0 0 rg BT 135.01 654.75 Td (, ) Tj ET Q q 0 0 0 rg BT 140.59 654.75 Td (demand ) Tj ET Q q 0 0 0 rg BT 175.33 654.75 Td (and ) Tj ET Q q 0 0 0 rg BT 192.84 654.75 Td (prices, ) Tj ET Q q 0 0 0 rg BT 222.30 654.75 Td (and ) Tj ET Q q 0 0 0 rg BT 239.82 654.75 Td (have ) Tj ET Q q 0 0 0 rg BT 261.78 654.75 Td (historically ) Tj ET Q q 0 0 0 rg BT 309.85 654.75 Td (been ) Tj ET Q q 0 0 0 rg BT 331.81 654.75 Td (subject ) Tj ET Q q 0 0 0 rg BT 363.22 654.75 Td (to ) Tj ET Q q 0 0 0 rg BT 374.08 654.75 Td (significant ) Tj ET Q q 0 0 0 rg BT 419.37 654.75 Td (price ) Tj ET Q q 0 0 0 rg BT 442.43 654.75 Td (changes ) Tj ET Q q 0 0 0 rg BT 477.72 654.75 Td (over ) Tj ET Q q 0 0 0 rg BT 498.57 654.75 Td (short ) Tj ET Q q 0 0 0 rg BT 521.65 654.75 Td (periods ) Tj ET Q q 0 0 0 rg BT 554.17 654.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.75 Td (time. ) Tj ET Q q 0 0 0 rg BT 72.97 642.75 Td ( ) Tj ET Q q 0 0 0 rg BT 76.16 642.75 Td (Over ) Tj ET Q q 0 0 0 rg BT 99.34 642.75 Td (the ) Tj ET Q q 0 0 0 rg BT 114.75 642.75 Td (last ) Tj ET Q q 0 0 0 rg BT 131.83 642.75 Td (few ) Tj ET Q q 0 0 0 rg BT 150.02 642.75 Td (years, ) Tj ET Q q 0 0 0 rg BT 176.81 642.75 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 216.67 642.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 230.42 642.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 257.49 642.75 Td (have ) Tj ET Q q 0 0 0 rg BT 279.56 642.75 Td (been ) Tj ET Q q 0 0 0 rg BT 301.63 642.75 Td (volatile, ) Tj ET Q q 0 0 0 rg BT 337.31 642.75 Td (decreasing ) Tj ET Q q 0 0 0 rg BT 383.26 642.75 Td (to ) Tj ET Q q 0 0 0 rg BT 394.23 642.75 Td (a ) Tj ET Q q 0 0 0 rg BT 401.86 642.75 Td (low ) Tj ET Q q 0 0 0 rg BT 420.06 642.75 Td (of ) Tj ET Q q 0 0 0 rg BT 431.58 642.75 Td ($26 ) Tj ET Q q 0 0 0 rg BT 449.77 642.75 Td (in ) Tj ET Q q 0 0 0 rg BT 460.75 642.75 Td (early ) Tj ET Q q 0 0 0 rg BT 483.92 642.75 Td (2016 ) Tj ET Q q 0 0 0 rg BT 507.12 642.75 Td (and ) Tj ET Q q 0 0 0 rg BT 524.75 642.75 Td (gradually ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.75 Td (improving ) Tj ET Q q 0 0 0 rg BT 94.24 630.75 Td (to ) Tj ET Q q 0 0 0 rg BT 105.09 630.75 Td (hit ) Tj ET Q q 0 0 0 rg BT 118.72 630.75 Td (a ) Tj ET Q q 0 0 0 rg BT 126.23 630.75 Td (three-year ) Tj ET Q q 0 0 0 rg BT 169.83 630.75 Td (peak ) Tj ET Q q 0 0 0 rg BT 191.78 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 203.18 630.75 Td ($76 ) Tj ET Q q 0 0 0 rg BT 221.26 630.75 Td (in ) Tj ET Q q 0 0 0 rg BT 232.11 630.75 Td (October ) Tj ET Q q 0 0 0 rg BT 267.39 630.75 Td (2018, ) Tj ET Q q 0 0 0 rg BT 292.96 630.75 Td (before ) Tj ET Q q 0 0 0 rg BT 321.58 630.75 Td (retreating ) Tj ET Q q 0 0 0 rg BT 362.96 630.75 Td (to ) Tj ET Q q 0 0 0 rg BT 373.81 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 389.10 630.75 Td (low-$40�) Tj ET Q q 0 0 0 rg BT 425.21 630.75 Td (s ) Tj ET Q q 0 0 0 rg BT 432.18 630.75 Td (in ) Tj ET Q q 0 0 0 rg BT 443.03 630.75 Td (late ) Tj ET Q q 0 0 0 rg BT 460.54 630.75 Td (December ) Tj ET Q q 0 0 0 rg BT 504.69 630.75 Td (2018 ) Tj ET Q q 0 0 0 rg BT 527.77 630.75 Td (and ) Tj ET Q q 0 0 0 rg BT 545.28 630.75 Td (then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.75 Td (moving ) Tj ET Q q 0 0 0 rg BT 82.26 618.75 Td (upward ) Tj ET Q q 0 0 0 rg BT 114.45 618.75 Td (again ) Tj ET Q q 0 0 0 rg BT 138.30 618.75 Td (to ) Tj ET Q q 0 0 0 rg BT 148.28 618.75 Td (an ) Tj ET Q q 0 0 0 rg BT 159.92 618.75 Td (average ) Tj ET Q q 0 0 0 rg BT 193.20 618.75 Td (of ) Tj ET Q q 0 0 0 rg BT 203.73 618.75 Td (approximately ) Tj ET Q q 0 0 0 rg BT 263.69 618.75 Td ($53 ) Tj ET Q q 0 0 0 rg BT 280.89 618.75 Td (per ) Tj ET Q q 0 0 0 rg BT 295.86 618.75 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 312.51 618.75 Td (during ) Tj ET Q q 0 0 0 rg BT 340.81 618.75 Td (the ) Tj ET Q q 0 0 0 rg BT 355.23 618.75 Td (first ) Tj ET Q q 0 0 0 rg BT 373.54 618.75 Td (two ) Tj ET Q q 0 0 0 rg BT 390.74 618.75 Td (months ) Tj ET Q q 0 0 0 rg BT 422.39 618.75 Td (of ) Tj ET Q q 0 0 0 rg BT 432.92 618.75 Td (2019. ) Tj ET Q q 0 0 0 rg BT 457.62 618.75 Td ( ) Tj ET Q q 0 0 0 rg BT 459.81 618.75 Td (Based ) Tj ET Q q 0 0 0 rg BT 486.45 618.75 Td (on ) Tj ET Q q 0 0 0 rg BT 498.65 618.75 Td (past ) Tj ET Q q 0 0 0 rg BT 516.96 618.75 Td (commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.75 Td (cycles, ) Tj ET Q q 0 0 0 rg BT 79.27 606.75 Td (volatility ) Tj ET Q q 0 0 0 rg BT 117.66 606.75 Td (will ) Tj ET Q q 0 0 0 rg BT 135.50 606.75 Td (remain, ) Tj ET Q q 0 0 0 rg BT 168.05 606.75 Td (and ) Tj ET Q q 0 0 0 rg BT 184.77 606.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 210.93 606.75 Td (could ) Tj ET Q q 0 0 0 rg BT 235.44 606.75 Td (move ) Tj ET Q q 0 0 0 rg BT 259.94 606.75 Td (downward ) Tj ET Q q 0 0 0 rg BT 304.43 606.75 Td (or ) Tj ET Q q 0 0 0 rg BT 315.05 606.75 Td (upward ) Tj ET Q q 0 0 0 rg BT 347.32 606.75 Td (on ) Tj ET Q q 0 0 0 rg BT 359.61 606.75 Td (a ) Tj ET Q q 0 0 0 rg BT 366.33 606.75 Td (rapid ) Tj ET Q q 0 0 0 rg BT 389.16 606.75 Td (or ) Tj ET Q q 0 0 0 rg BT 399.77 606.75 Td (repeated ) Tj ET Q q 0 0 0 rg BT 435.92 606.75 Td (basis, ) Tj ET Q q 0 0 0 rg BT 460.70 606.75 Td (which ) Tj ET Q q 0 0 0 rg BT 487.43 606.75 Td (can ) Tj ET Q q 0 0 0 rg BT 503.59 606.75 Td (make ) Tj ET Q q 0 0 0 rg BT 527.53 606.75 Td (planning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.75 Td (and ) Tj ET Q q 0 0 0 rg BT 66.04 594.75 Td (budgeting, ) Tj ET Q q 0 0 0 rg BT 110.64 594.75 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 156.62 594.75 Td (and ) Tj ET Q q 0 0 0 rg BT 173.16 594.75 Td (divestiture ) Tj ET Q q 0 0 0 rg BT 217.47 594.75 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 269.84 594.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 298.59 594.75 Td (raising, ) Tj ET Q q 0 0 0 rg BT 330.41 594.75 Td (valuations ) Tj ET Q q 0 0 0 rg BT 373.61 594.75 Td (and ) Tj ET Q q 0 0 0 rg BT 390.15 594.75 Td (sustained ) Tj ET Q q 0 0 0 rg BT 429.47 594.75 Td (business ) Tj ET Q q 0 0 0 rg BT 465.46 594.75 Td (strategies ) Tj ET Q q 0 0 0 rg BT 505.32 594.75 Td (more ) Tj ET Q q 0 0 0 rg BT 527.97 594.75 Td (dif) Tj ET Q q 0 0 0 rg BT 538.90 594.75 Td (ficult. ) Tj ET Q q 0 0 0 rg BT 565.00 594.75 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.70 582.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 88.12 582.75 Td (flow ) Tj ET Q q 0 0 0 rg BT 109.10 582.75 Td (from ) Tj ET Q q 0 0 0 rg BT 131.19 582.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 175.50 582.75 Td (is ) Tj ET Q q 0 0 0 rg BT 184.82 582.75 Td (highly ) Tj ET Q q 0 0 0 rg BT 213.02 582.75 Td (dependent ) Tj ET Q q 0 0 0 rg BT 256.77 582.75 Td (on ) Tj ET Q q 0 0 0 rg BT 269.42 582.75 Td (the ) Tj ET Q q 0 0 0 rg BT 284.29 582.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 310.81 582.75 Td (that ) Tj ET Q q 0 0 0 rg BT 328.46 582.75 Td (we ) Tj ET Q q 0 0 0 rg BT 342.77 582.75 Td (receive ) Tj ET Q q 0 0 0 rg BT 374.28 582.75 Td (for ) Tj ET Q q 0 0 0 rg BT 388.59 582.75 Td (oil, ) Tj ET Q q 0 0 0 rg BT 404.30 582.75 Td (as ) Tj ET Q q 0 0 0 rg BT 415.28 582.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 428.49 582.75 Td (comprised ) Tj ET Q q 0 0 0 rg BT 472.79 582.75 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.20 582.75 Td (97%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 551.53 582.75 Td ( ) Tj ET Q q 0 0 0 rg BT 554.18 582.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.75 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 65.15 570.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.15 570.75 Td ( ) Tj ET Q q 0 0 0 rg BT 87.46 570.75 Td (production ) Tj ET Q q 0 0 0 rg BT 133.10 570.75 Td (and ) Tj ET Q q 0 0 0 rg BT 149.86 570.75 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.93 570.75 Td (97%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.26 570.75 Td ( ) Tj ET Q q 0 0 0 rg BT 230.58 570.75 Td (of ) Tj ET Q q 0 0 0 rg BT 241.22 570.75 Td (our ) Tj ET Q q 0 0 0 rg BT 256.87 570.75 Td (proved ) Tj ET Q q 0 0 0 rg BT 286.95 570.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 322.03 570.75 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.56 570.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 389.96 570.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.96 570.75 Td (. ) Tj ET Q q 0 0 0 rg BT 414.78 570.75 Td ( ) Tj ET Q q 0 0 0 rg BT 416.93 570.75 Td (The ) Tj ET Q q 0 0 0 rg BT 434.79 570.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 460.98 570.75 Td (for ) Tj ET Q q 0 0 0 rg BT 474.96 570.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 487.83 570.75 Td (and ) Tj ET Q q 0 0 0 rg BT 504.58 570.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 534.66 570.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 550.31 570.75 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.75 Td (subject ) Tj ET Q q 0 0 0 rg BT 80.33 558.75 Td (to ) Tj ET Q q 0 0 0 rg BT 90.60 558.75 Td (a ) Tj ET Q q 0 0 0 rg BT 97.54 558.75 Td (variety ) Tj ET Q q 0 0 0 rg BT 127.81 558.75 Td (of ) Tj ET Q q 0 0 0 rg BT 138.64 558.75 Td (factors ) Tj ET Q q 0 0 0 rg BT 168.34 558.75 Td (that ) Tj ET Q q 0 0 0 rg BT 185.84 558.75 Td (are ) Tj ET Q q 0 0 0 rg BT 200.54 558.75 Td (beyond ) Tj ET Q q 0 0 0 rg BT 232.48 558.75 Td (our ) Tj ET Q q 0 0 0 rg BT 248.31 558.75 Td (control.��) Tj ET Q q 0 0 0 rg BT 283.96 558.75 Td (These ) Tj ET Q q 0 0 0 rg BT 310.33 558.75 Td (factors ) Tj ET Q q 0 0 0 rg BT 340.04 558.75 Td (include:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 534.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 534.75 Td (the ) Tj ET Q q 0 0 0 rg BT 100.32 534.75 Td (level ) Tj ET Q q 0 0 0 rg BT 122.37 534.75 Td (of ) Tj ET Q q 0 0 0 rg BT 133.30 534.75 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 178.68 534.75 Td (consumer ) Tj ET Q q 0 0 0 rg BT 220.16 534.75 Td (demand ) Tj ET Q q 0 0 0 rg BT 254.43 534.75 Td (for ) Tj ET Q q 0 0 0 rg BT 268.69 534.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 281.86 534.75 Td (and ) Tj ET Q q 0 0 0 rg BT 298.90 534.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 329.27 534.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 345.21 534.75 Td (and ) Tj ET Q q 0 0 0 rg BT 362.26 534.75 Td (the ) Tj ET Q q 0 0 0 rg BT 377.08 534.75 Td (domestic ) Tj ET Q q 0 0 0 rg BT 415.79 534.75 Td (and ) Tj ET Q q 0 0 0 rg BT 432.84 534.75 Td (foreign ) Tj ET Q q 0 0 0 rg BT 464.32 534.75 Td (supply ) Tj ET Q q 0 0 0 rg BT 493.60 534.75 Td (of ) Tj ET Q q 0 0 0 rg BT 504.54 534.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 517.70 534.75 Td (and ) Tj ET Q q 0 0 0 rg BT 534.75 534.75 Td (natural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 522.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 101.33 522.75 Td (and ) Tj ET Q q 0 0 0 rg BT 118.27 522.75 Td (levels ) Tj ET Q q 0 0 0 rg BT 144.09 522.75 Td (of ) Tj ET Q q 0 0 0 rg BT 154.92 522.75 Td (domestic ) Tj ET Q q 0 0 0 rg BT 193.53 522.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 206.58 522.75 Td (and ) Tj ET Q q 0 0 0 rg BT 223.52 522.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 253.79 522.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 269.62 522.75 Td (storage;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 510.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 510.75 Td (the ) Tj ET Q q 0 0 0 rg BT 100.54 510.75 Td (degree ) Tj ET Q q 0 0 0 rg BT 130.00 510.75 Td (to ) Tj ET Q q 0 0 0 rg BT 140.60 510.75 Td (which ) Tj ET Q q 0 0 0 rg BT 167.85 510.75 Td (members ) Tj ET Q q 0 0 0 rg BT 207.33 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 218.48 510.75 Td (the ) Tj ET Q q 0 0 0 rg BT 233.51 510.75 Td (Or) Tj ET Q q 0 0 0 rg BT 243.88 510.75 Td (ganization ) Tj ET Q q 0 0 0 rg BT 288.35 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 299.50 510.75 Td (Petroleum ) Tj ET Q q 0 0 0 rg BT 343.42 510.75 Td (Exporting ) Tj ET Q q 0 0 0 rg BT 386.24 510.75 Td (Countries ) Tj ET Q q 0 0 0 rg BT 427.94 510.75 Td (maintain ) Tj ET Q q 0 0 0 rg BT 465.75 510.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 479.13 510.75 Td (price ) Tj ET Q q 0 0 0 rg BT 501.93 510.75 Td (and ) Tj ET Q q 0 0 0 rg BT 519.19 510.75 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 498.75 Td (controls;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 486.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 486.75 Td (the ) Tj ET Q q 0 0 0 rg BT 100.22 486.75 Td (degree ) Tj ET Q q 0 0 0 rg BT 129.36 486.75 Td (to ) Tj ET Q q 0 0 0 rg BT 139.64 486.75 Td (which ) Tj ET Q q 0 0 0 rg BT 166.58 486.75 Td (domestic ) Tj ET Q q 0 0 0 rg BT 205.18 486.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 218.24 486.75 Td (and ) Tj ET Q q 0 0 0 rg BT 235.18 486.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 265.44 486.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 281.27 486.75 Td (production ) Tj ET Q q 0 0 0 rg BT 327.10 486.75 Td (af) Tj ET Q q 0 0 0 rg BT 334.68 486.75 Td (fects ) Tj ET Q q 0 0 0 rg BT 356.06 486.75 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 401.33 486.75 Td (supply ) Tj ET Q q 0 0 0 rg BT 430.50 486.75 Td (of ) Tj ET Q q 0 0 0 rg BT 441.33 486.75 Td (crude ) Tj ET Q q 0 0 0 rg BT 466.04 486.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 479.09 486.75 Td (or ) Tj ET Q q 0 0 0 rg BT 489.92 486.75 Td (its ) Tj ET Q q 0 0 0 rg BT 501.87 486.75 Td (price;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 474.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 474.75 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 131.63 474.75 Td (political ) Tj ET Q q 0 0 0 rg BT 167.76 474.75 Td (events, ) Tj ET Q q 0 0 0 rg BT 199.17 474.75 Td (conditions ) Tj ET Q q 0 0 0 rg BT 244.20 474.75 Td (and ) Tj ET Q q 0 0 0 rg BT 262.00 474.75 Td (policies, ) Tj ET Q q 0 0 0 rg BT 298.97 474.75 Td (including ) Tj ET Q q 0 0 0 rg BT 340.11 474.75 Td (actions ) Tj ET Q q 0 0 0 rg BT 371.80 474.75 Td (taken ) Tj ET Q q 0 0 0 rg BT 396.81 474.75 Td (by ) Tj ET Q q 0 0 0 rg BT 410.18 474.75 Td (foreign ) Tj ET Q q 0 0 0 rg BT 442.42 474.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 456.34 474.75 Td (and ) Tj ET Q q 0 0 0 rg BT 474.14 474.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 505.27 474.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 521.96 474.75 Td (producing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 462.75 Td (nations; ) Tj ET Q q 0 0 0 rg BT 119.67 462.75 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 450.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 450.75 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 130.77 450.75 Td (economic ) Tj ET Q q 0 0 0 rg BT 172.14 450.75 Td (conditions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 426.75 Td (Negative ) Tj ET Q q 0 0 0 rg BT 106.09 426.75 Td (movements ) Tj ET Q q 0 0 0 rg BT 154.70 426.75 Td (in ) Tj ET Q q 0 0 0 rg BT 164.98 426.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 178.03 426.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 204.41 426.75 Td (could ) Tj ET Q q 0 0 0 rg BT 229.13 426.75 Td (harm ) Tj ET Q q 0 0 0 rg BT 252.17 426.75 Td (us ) Tj ET Q q 0 0 0 rg BT 263.56 426.75 Td (in ) Tj ET Q q 0 0 0 rg BT 273.84 426.75 Td (a ) Tj ET Q q 0 0 0 rg BT 280.78 426.75 Td (number ) Tj ET Q q 0 0 0 rg BT 313.83 426.75 Td (of ) Tj ET Q q 0 0 0 rg BT 324.66 426.75 Td (ways, ) Tj ET Q q 0 0 0 rg BT 350.21 426.75 Td (including:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 402.75 Td (lower ) Tj ET Q q 0 0 0 rg BT 110.77 402.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 131.04 402.75 Td (flows ) Tj ET Q q 0 0 0 rg BT 155.76 402.75 Td (from ) Tj ET Q q 0 0 0 rg BT 177.70 402.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 221.85 402.75 Td (may ) Tj ET Q q 0 0 0 rg BT 241.57 402.75 Td (require ) Tj ET Q q 0 0 0 rg BT 272.38 402.75 Td (reduced ) Tj ET Q q 0 0 0 rg BT 306.53 402.75 Td (levels ) Tj ET Q q 0 0 0 rg BT 332.36 402.75 Td (of ) Tj ET Q q 0 0 0 rg BT 343.19 402.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 372.34 402.75 Td (expenditures;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 390.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 390.75 Td (reduced ) Tj ET Q q 0 0 0 rg BT 118.76 390.75 Td (levels ) Tj ET Q q 0 0 0 rg BT 143.71 390.75 Td (of ) Tj ET Q q 0 0 0 rg BT 153.65 390.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 181.92 390.75 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 234.63 390.75 Td (in ) Tj ET Q q 0 0 0 rg BT 244.03 390.75 Td (turn ) Tj ET Q q 0 0 0 rg BT 261.76 390.75 Td (could ) Tj ET Q q 0 0 0 rg BT 285.59 390.75 Td (lower ) Tj ET Q q 0 0 0 rg BT 309.98 390.75 Td (our ) Tj ET Q q 0 0 0 rg BT 324.92 390.75 Td (present ) Tj ET Q q 0 0 0 rg BT 355.42 390.75 Td (and ) Tj ET Q q 0 0 0 rg BT 371.47 390.75 Td (future ) Tj ET Q q 0 0 0 rg BT 396.97 390.75 Td (production ) Tj ET Q q 0 0 0 rg BT 441.91 390.75 Td (levels, ) Tj ET Q q 0 0 0 rg BT 469.35 390.75 Td (and ) Tj ET Q q 0 0 0 rg BT 485.41 390.75 Td (lower ) Tj ET Q q 0 0 0 rg BT 509.80 390.75 Td (the ) Tj ET Q q 0 0 0 rg BT 523.63 390.75 Td (quantities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 378.75 Td (and ) Tj ET Q q 0 0 0 rg BT 102.44 378.75 Td (value ) Tj ET Q q 0 0 0 rg BT 126.59 378.75 Td (of ) Tj ET Q q 0 0 0 rg BT 137.42 378.75 Td (our ) Tj ET Q q 0 0 0 rg BT 153.25 378.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 166.31 378.75 Td (and ) Tj ET Q q 0 0 0 rg BT 183.25 378.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 199.08 378.75 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 236.84 378.75 Td (which ) Tj ET Q q 0 0 0 rg BT 263.78 378.75 Td (constitute ) Tj ET Q q 0 0 0 rg BT 305.16 378.75 Td (our ) Tj ET Q q 0 0 0 rg BT 320.99 378.75 Td (major ) Tj ET Q q 0 0 0 rg BT 346.81 378.75 Td (asset;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 366.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 366.75 Td (our ) Tj ET Q q 0 0 0 rg BT 102.02 366.75 Td (lenders ) Tj ET Q q 0 0 0 rg BT 134.08 366.75 Td (could ) Tj ET Q q 0 0 0 rg BT 159.48 366.75 Td (reduce ) Tj ET Q q 0 0 0 rg BT 189.31 366.75 Td (our ) Tj ET Q q 0 0 0 rg BT 205.83 366.75 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 250.68 366.75 Td (base, ) Tj ET Q q 0 0 0 rg BT 274.13 366.75 Td (and ) Tj ET Q q 0 0 0 rg BT 291.75 366.75 Td (we ) Tj ET Q q 0 0 0 rg BT 306.60 366.75 Td (may ) Tj ET Q q 0 0 0 rg BT 327.00 366.75 Td (not ) Tj ET Q q 0 0 0 rg BT 342.97 366.75 Td (be ) Tj ET Q q 0 0 0 rg BT 355.59 366.75 Td (able ) Tj ET Q q 0 0 0 rg BT 375.43 366.75 Td (to ) Tj ET Q q 0 0 0 rg BT 386.40 366.75 Td (raise ) Tj ET Q q 0 0 0 rg BT 408.46 366.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 438.30 366.75 Td (at ) Tj ET Q q 0 0 0 rg BT 448.70 366.75 Td (attractive ) Tj ET Q q 0 0 0 rg BT 489.08 366.75 Td (rates ) Tj ET Q q 0 0 0 rg BT 511.15 366.75 Td (in ) Tj ET Q q 0 0 0 rg BT 522.11 366.75 Td (the ) Tj ET Q q 0 0 0 rg BT 537.51 366.75 Td (public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 354.75 Td (markets;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 342.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 342.75 Td (we ) Tj ET Q q 0 0 0 rg BT 99.66 342.75 Td (could ) Tj ET Q q 0 0 0 rg BT 124.38 342.75 Td (have ) Tj ET Q q 0 0 0 rg BT 145.75 342.75 Td (dif) Tj ET Q q 0 0 0 rg BT 156.68 342.75 Td (ficulty ) Tj ET Q q 0 0 0 rg BT 185.29 342.75 Td (repaying ) Tj ET Q q 0 0 0 rg BT 222.77 342.75 Td (or ) Tj ET Q q 0 0 0 rg BT 233.60 342.75 Td (refinancing ) Tj ET Q q 0 0 0 rg BT 281.63 342.75 Td (our ) Tj ET Q q 0 0 0 rg BT 297.46 342.75 Td (indebtedness;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 330.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 330.75 Td (we ) Tj ET Q q 0 0 0 rg BT 99.66 330.75 Td (could ) Tj ET Q q 0 0 0 rg BT 124.38 330.75 Td (be ) Tj ET Q q 0 0 0 rg BT 136.32 330.75 Td (forced ) Tj ET Q q 0 0 0 rg BT 164.35 330.75 Td (to ) Tj ET Q q 0 0 0 rg BT 174.63 330.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 209.88 330.75 Td (our ) Tj ET Q q 0 0 0 rg BT 225.71 330.75 Td (level ) Tj ET Q q 0 0 0 rg BT 247.65 330.75 Td (of ) Tj ET Q q 0 0 0 rg BT 258.48 330.75 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 315.13 330.75 Td (issue ) Tj ET Q q 0 0 0 rg BT 337.63 330.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 380.12 330.75 Td (equity) Tj ET Q q 0 0 0 rg BT 404.47 330.75 Td (, ) Tj ET Q q 0 0 0 rg BT 409.47 330.75 Td (or ) Tj ET Q q 0 0 0 rg BT 420.30 330.75 Td (sell ) Tj ET Q q 0 0 0 rg BT 436.69 330.75 Td (assets;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 318.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 318.75 Td (we ) Tj ET Q q 0 0 0 rg BT 99.18 318.75 Td (could ) Tj ET Q q 0 0 0 rg BT 123.42 318.75 Td (be ) Tj ET Q q 0 0 0 rg BT 134.88 318.75 Td (required ) Tj ET Q q 0 0 0 rg BT 170.21 318.75 Td (to ) Tj ET Q q 0 0 0 rg BT 180.01 318.75 Td (impair ) Tj ET Q q 0 0 0 rg BT 208.14 318.75 Td (various ) Tj ET Q q 0 0 0 rg BT 239.59 318.75 Td (assets, ) Tj ET Q q 0 0 0 rg BT 267.45 318.75 Td (including ) Tj ET Q q 0 0 0 rg BT 307.24 318.75 Td (a ) Tj ET Q q 0 0 0 rg BT 313.70 318.75 Td (further ) Tj ET Q q 0 0 0 rg BT 342.93 318.75 Td (write-down ) Tj ET Q q 0 0 0 rg BT 391.04 318.75 Td (of ) Tj ET Q q 0 0 0 rg BT 401.40 318.75 Td (our ) Tj ET Q q 0 0 0 rg BT 416.75 318.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 429.32 318.75 Td (and ) Tj ET Q q 0 0 0 rg BT 445.78 318.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 475.57 318.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 490.92 318.75 Td (assets ) Tj ET Q q 0 0 0 rg BT 516.27 318.75 Td (or ) Tj ET Q q 0 0 0 rg BT 526.62 318.75 Td (the ) Tj ET Q q 0 0 0 rg BT 540.86 318.75 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 306.75 Td (of ) Tj ET Q q 0 0 0 rg BT 96.33 306.75 Td (other ) Tj ET Q q 0 0 0 rg BT 119.38 306.75 Td (tangible ) Tj ET Q q 0 0 0 rg BT 154.09 306.75 Td (or ) Tj ET Q q 0 0 0 rg BT 164.92 306.75 Td (intangible ) Tj ET Q q 0 0 0 rg BT 207.41 306.75 Td (assets; ) Tj ET Q q 0 0 0 rg BT 236.02 306.75 Td (and/or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 294.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 294.75 Td (our ) Tj ET Q q 0 0 0 rg BT 101.73 294.75 Td (potential ) Tj ET Q q 0 0 0 rg BT 139.61 294.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 160.28 294.75 Td (flows ) Tj ET Q q 0 0 0 rg BT 185.39 294.75 Td (from ) Tj ET Q q 0 0 0 rg BT 207.73 294.75 Td (our ) Tj ET Q q 0 0 0 rg BT 223.95 294.75 Td (commodity ) Tj ET Q q 0 0 0 rg BT 272.40 294.75 Td (derivative ) Tj ET Q q 0 0 0 rg BT 315.28 294.75 Td (contracts ) Tj ET Q q 0 0 0 rg BT 354.26 294.75 Td (that ) Tj ET Q q 0 0 0 rg BT 372.16 294.75 Td (include ) Tj ET Q q 0 0 0 rg BT 404.48 294.75 Td (sold ) Tj ET Q q 0 0 0 rg BT 424.05 294.75 Td (puts ) Tj ET Q q 0 0 0 rg BT 443.62 294.75 Td (could ) Tj ET Q q 0 0 0 rg BT 468.73 294.75 Td (be ) Tj ET Q q 0 0 0 rg BT 481.06 294.75 Td (limited ) Tj ET Q q 0 0 0 rg BT 512.29 294.75 Td (to ) Tj ET Q q 0 0 0 rg BT 522.96 294.75 Td (the ) Tj ET Q q 0 0 0 rg BT 538.07 294.75 Td (extent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 282.75 Td (that ) Tj ET Q q 0 0 0 rg BT 103.00 282.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 116.05 282.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 142.43 282.75 Td (are ) Tj ET Q q 0 0 0 rg BT 157.14 282.75 Td (below ) Tj ET Q q 0 0 0 rg BT 184.07 282.75 Td (the ) Tj ET Q q 0 0 0 rg BT 198.79 282.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 225.17 282.75 Td (of ) Tj ET Q q 0 0 0 rg BT 236.00 282.75 Td (those ) Tj ET Q q 0 0 0 rg BT 259.61 282.75 Td (sold ) Tj ET Q q 0 0 0 rg BT 278.78 282.75 Td (puts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 258.75 Td (Furthermore, ) Tj ET Q q 0 0 0 rg BT 121.82 258.75 Td (some ) Tj ET Q q 0 0 0 rg BT 144.76 258.75 Td (or ) Tj ET Q q 0 0 0 rg BT 154.92 258.75 Td (all ) Tj ET Q q 0 0 0 rg BT 166.75 258.75 Td (of ) Tj ET Q q 0 0 0 rg BT 176.92 258.75 Td (our ) Tj ET Q q 0 0 0 rg BT 192.08 258.75 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 222.79 258.75 Td (projects ) Tj ET Q q 0 0 0 rg BT 256.27 258.75 Td (could ) Tj ET Q q 0 0 0 rg BT 280.32 258.75 Td (remain ) Tj ET Q q 0 0 0 rg BT 309.92 258.75 Td (or ) Tj ET Q q 0 0 0 rg BT 320.09 258.75 Td (become ) Tj ET Q q 0 0 0 rg BT 353.01 258.75 Td (uneconomical. ) Tj ET Q q 0 0 0 rg BT 413.44 258.75 Td ( ) Tj ET Q q 0 0 0 rg BT 415.14 258.75 Td (W) Tj ET Q q 0 0 0 rg BT 423.77 258.75 Td (e ) Tj ET Q q 0 0 0 rg BT 430.05 258.75 Td (may ) Tj ET Q q 0 0 0 rg BT 449.10 258.75 Td (also ) Tj ET Q q 0 0 0 rg BT 467.04 258.75 Td (decide ) Tj ET Q q 0 0 0 rg BT 494.97 258.75 Td (to ) Tj ET Q q 0 0 0 rg BT 504.58 258.75 Td (suspend ) Tj ET Q q 0 0 0 rg BT 538.63 258.75 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.75 Td (expansion ) Tj ET Q q 0 0 0 rg BT 92.24 246.75 Td (projects, ) Tj ET Q q 0 0 0 rg BT 128.58 246.75 Td (and ) Tj ET Q q 0 0 0 rg BT 145.21 246.75 Td (if ) Tj ET Q q 0 0 0 rg BT 153.50 246.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 179.57 246.75 Td (were ) Tj ET Q q 0 0 0 rg BT 201.19 246.75 Td (to ) Tj ET Q q 0 0 0 rg BT 211.16 246.75 Td (drop ) Tj ET Q q 0 0 0 rg BT 231.67 246.75 Td (below ) Tj ET Q q 0 0 0 rg BT 258.30 246.75 Td (our ) Tj ET Q q 0 0 0 rg BT 273.82 246.75 Td (operating ) Tj ET Q q 0 0 0 rg BT 313.77 246.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 333.73 246.75 Td (break-even ) Tj ET Q q 0 0 0 rg BT 380.33 246.75 Td (points ) Tj ET Q q 0 0 0 rg BT 406.97 246.75 Td (for ) Tj ET Q q 0 0 0 rg BT 420.82 246.75 Td (an ) Tj ET Q q 0 0 0 rg BT 432.45 246.75 Td (extended ) Tj ET Q q 0 0 0 rg BT 470.73 246.75 Td (period ) Tj ET Q q 0 0 0 rg BT 498.47 246.75 Td (of ) Tj ET Q q 0 0 0 rg BT 508.99 246.75 Td (time, ) Tj ET Q q 0 0 0 rg BT 531.45 246.75 Td (we ) Tj ET Q q 0 0 0 rg BT 545.30 246.75 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.75 Td (decide ) Tj ET Q q 0 0 0 rg BT 78.46 234.75 Td (to ) Tj ET Q q 0 0 0 rg BT 89.11 234.75 Td (shut-in ) Tj ET Q q 0 0 0 rg BT 119.76 234.75 Td (existing ) Tj ET Q q 0 0 0 rg BT 154.30 234.75 Td (production, ) Tj ET Q q 0 0 0 rg BT 203.00 234.75 Td (both ) Tj ET Q q 0 0 0 rg BT 223.65 234.75 Td (of ) Tj ET Q q 0 0 0 rg BT 234.85 234.75 Td (which ) Tj ET Q q 0 0 0 rg BT 262.16 234.75 Td (could ) Tj ET Q q 0 0 0 rg BT 287.24 234.75 Td (have ) Tj ET Q q 0 0 0 rg BT 308.99 234.75 Td (a ) Tj ET Q q 0 0 0 rg BT 316.30 234.75 Td (material ) Tj ET Q q 0 0 0 rg BT 351.93 234.75 Td (adverse ) Tj ET Q q 0 0 0 rg BT 385.34 234.75 Td (ef) Tj ET Q q 0 0 0 rg BT 392.93 234.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 410.78 234.75 Td (on ) Tj ET Q q 0 0 0 rg BT 423.66 234.75 Td (our ) Tj ET Q q 0 0 0 rg BT 439.86 234.75 Td (operations, ) Tj ET Q q 0 0 0 rg BT 486.88 234.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 524.73 234.75 Td (condition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.75 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 222.75 Td (reduce ) Tj ET Q q 0 0 0 rg BT 95.58 222.75 Td (our ) Tj ET Q q 0 0 0 rg BT 111.41 222.75 Td (production.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 198.75 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 198.75 Td ( ) Tj ET Q q 0 0 0 rg BT 59.70 198.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 100.46 198.75 Td (downturn ) Tj ET Q q 0 0 0 rg BT 146.22 198.75 Td (in ) Tj ET Q q 0 0 0 rg BT 158.09 198.75 Td (one ) Tj ET Q q 0 0 0 rg BT 176.62 198.75 Td (or) Tj ET Q q 0 0 0 rg BT 185.88 198.75 Td ( ) Tj ET Q q 0 0 0 rg BT 189.41 198.75 Td (mor) Tj ET Q q 0 0 0 rg BT 207.00 198.75 Td (e ) Tj ET Q q 0 0 0 rg BT 214.97 198.75 Td (of ) Tj ET Q q 0 0 0 rg BT 226.83 198.75 Td (the ) Tj ET Q q 0 0 0 rg BT 243.69 198.75 Td (world�) Tj ET Q q 0 0 0 rg BT 271.65 198.75 Td (s ) Tj ET Q q 0 0 0 rg BT 279.07 198.75 Td (major) Tj ET Q q 0 0 0 rg BT 304.99 198.75 Td ( ) Tj ET Q q 0 0 0 rg BT 308.52 198.75 Td (markets ) Tj ET Q q 0 0 0 rg BT 347.04 198.75 Td (could ) Tj ET Q q 0 0 0 rg BT 373.91 198.75 Td (negatively ) Tj ET Q q 0 0 0 rg BT 420.76 198.75 Td (affect ) Tj ET Q q 0 0 0 rg BT 448.16 198.75 Td (our) Tj ET Q q 0 0 0 rg BT 462.98 198.75 Td ( ) Tj ET Q q 0 0 0 rg BT 466.51 198.75 Td (business ) Tj ET Q q 0 0 0 rg BT 505.62 198.75 Td (and ) Tj ET Q q 0 0 0 rg BT 525.27 198.75 Td (financial ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 186.75 Td (condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 162.75 Td (In ) Tj ET Q q 0 0 0 rg BT 78.45 162.75 Td (addition ) Tj ET Q q 0 0 0 rg BT 113.84 162.75 Td (to ) Tj ET Q q 0 0 0 rg BT 124.23 162.75 Td (the ) Tj ET Q q 0 0 0 rg BT 139.07 162.75 Td (impact ) Tj ET Q q 0 0 0 rg BT 168.90 162.75 Td (on ) Tj ET Q q 0 0 0 rg BT 181.51 162.75 Td (the ) Tj ET Q q 0 0 0 rg BT 196.35 162.75 Td (demand ) Tj ET Q q 0 0 0 rg BT 230.62 162.75 Td (for ) Tj ET Q q 0 0 0 rg BT 244.90 162.75 Td (oil, ) Tj ET Q q 0 0 0 rg BT 260.57 162.75 Td (drops ) Tj ET Q q 0 0 0 rg BT 285.41 162.75 Td (in ) Tj ET Q q 0 0 0 rg BT 295.81 162.75 Td (domestic ) Tj ET Q q 0 0 0 rg BT 334.53 162.75 Td (or ) Tj ET Q q 0 0 0 rg BT 345.47 162.75 Td (foreign ) Tj ET Q q 0 0 0 rg BT 376.97 162.75 Td (economic ) Tj ET Q q 0 0 0 rg BT 418.46 162.75 Td (growth ) Tj ET Q q 0 0 0 rg BT 449.40 162.75 Td (rates, ) Tj ET Q q 0 0 0 rg BT 473.40 162.75 Td (regional ) Tj ET Q q 0 0 0 rg BT 508.78 162.75 Td (or ) Tj ET Q q 0 0 0 rg BT 519.73 162.75 Td (worldwide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.75 Td (increases ) Tj ET Q q 0 0 0 rg BT 89.50 150.75 Td (in ) Tj ET Q q 0 0 0 rg BT 100.63 150.75 Td (tarif) Tj ET Q q 0 0 0 rg BT 117.11 150.75 Td (fs ) Tj ET Q q 0 0 0 rg BT 127.68 150.75 Td (or ) Tj ET Q q 0 0 0 rg BT 139.36 150.75 Td (other ) Tj ET Q q 0 0 0 rg BT 163.26 150.75 Td (trade ) Tj ET Q q 0 0 0 rg BT 186.60 150.75 Td (restrictions, ) Tj ET Q q 0 0 0 rg BT 236.89 150.75 Td (significant ) Tj ET Q q 0 0 0 rg BT 282.46 150.75 Td (international ) Tj ET Q q 0 0 0 rg BT 336.35 150.75 Td (currency ) Tj ET Q q 0 0 0 rg BT 374.68 150.75 Td (fluctuations, ) Tj ET Q q 0 0 0 rg BT 427.74 150.75 Td (a ) Tj ET Q q 0 0 0 rg BT 435.53 150.75 Td (sustained ) Tj ET Q q 0 0 0 rg BT 476.10 150.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 502.22 150.75 Td (crisis, ) Tj ET Q q 0 0 0 rg BT 529.18 150.75 Td (a ) Tj ET Q q 0 0 0 rg BT 536.97 150.75 Td (severe ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.75 Td (economic ) Tj ET Q q 0 0 0 rg BT 90.38 138.75 Td (contraction ) Tj ET Q q 0 0 0 rg BT 137.37 138.75 Td (either ) Tj ET Q q 0 0 0 rg BT 162.15 138.75 Td (regionally ) Tj ET Q q 0 0 0 rg BT 204.70 138.75 Td (or ) Tj ET Q q 0 0 0 rg BT 215.04 138.75 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 259.82 138.75 Td (or ) Tj ET Q q 0 0 0 rg BT 270.16 138.75 Td (turmoil ) Tj ET Q q 0 0 0 rg BT 301.62 138.75 Td (in ) Tj ET Q q 0 0 0 rg BT 311.41 138.75 Td (the ) Tj ET Q q 0 0 0 rg BT 325.63 138.75 Td (global ) Tj ET Q q 0 0 0 rg BT 352.64 138.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 389.63 138.75 Td (system, ) Tj ET Q q 0 0 0 rg BT 421.92 138.75 Td (could ) Tj ET Q q 0 0 0 rg BT 446.15 138.75 Td (materially ) Tj ET Q q 0 0 0 rg BT 488.69 138.75 Td (af) Tj ET Q q 0 0 0 rg BT 496.28 138.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 513.28 138.75 Td (our ) Tj ET Q q 0 0 0 rg BT 528.62 138.75 Td (business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.75 Td (and ) Tj ET Q q 0 0 0 rg BT 66.66 126.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 104.36 126.75 Td (condition, ) Tj ET Q q 0 0 0 rg BT 147.35 126.75 Td (or ) Tj ET Q q 0 0 0 rg BT 158.40 126.75 Td (impact ) Tj ET Q q 0 0 0 rg BT 188.33 126.75 Td (our ) Tj ET Q q 0 0 0 rg BT 204.38 126.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 232.65 126.75 Td (to ) Tj ET Q q 0 0 0 rg BT 243.14 126.75 Td (finance ) Tj ET Q q 0 0 0 rg BT 275.29 126.75 Td (operations.� ) Tj ET Q q 0 0 0 rg BT 324.66 126.75 Td (Negative ) Tj ET Q q 0 0 0 rg BT 363.47 126.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 388.96 126.75 Td (market ) Tj ET Q q 0 0 0 rg BT 419.44 126.75 Td (conditions ) Tj ET Q q 0 0 0 rg BT 463.82 126.75 Td (could ) Tj ET Q q 0 0 0 rg BT 488.76 126.75 Td (inhibit ) Tj ET Q q 0 0 0 rg BT 517.59 126.75 Td (our ) Tj ET Q q 0 0 0 rg BT 533.64 126.75 Td (lenders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.75 Td (from ) Tj ET Q q 0 0 0 rg BT 71.41 114.75 Td (funding ) Tj ET Q q 0 0 0 rg BT 104.98 114.75 Td (our ) Tj ET Q q 0 0 0 rg BT 120.78 114.75 Td (senior ) Tj ET Q q 0 0 0 rg BT 147.68 114.75 Td (secured ) Tj ET Q q 0 0 0 rg BT 180.69 114.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 202.59 114.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 227.83 114.75 Td (facility ) Tj ET Q q 0 0 0 rg BT 258.61 114.75 Td (or ) Tj ET Q q 0 0 0 rg BT 269.41 114.75 Td (cause ) Tj ET Q q 0 0 0 rg BT 294.08 114.75 Td (them ) Tj ET Q q 0 0 0 rg BT 316.55 114.75 Td (to ) Tj ET Q q 0 0 0 rg BT 326.79 114.75 Td (restrict ) Tj ET Q q 0 0 0 rg BT 357.02 114.75 Td (our ) Tj ET Q q 0 0 0 rg BT 372.82 114.75 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 416.95 114.75 Td (base ) Tj ET Q q 0 0 0 rg BT 437.18 114.75 Td (or ) Tj ET Q q 0 0 0 rg BT 447.98 114.75 Td (make ) Tj ET Q q 0 0 0 rg BT 472.10 114.75 Td (the ) Tj ET Q q 0 0 0 rg BT 486.79 114.75 Td (terms ) Tj ET Q q 0 0 0 rg BT 511.47 114.75 Td (of ) Tj ET Q q 0 0 0 rg BT 522.27 114.75 Td (our ) Tj ET Q q 0 0 0 rg BT 538.07 114.75 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.75 Td (secured ) Tj ET Q q 0 0 0 rg BT 83.84 102.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 107.07 102.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 133.64 102.75 Td (facility ) Tj ET Q q 0 0 0 rg BT 165.75 102.75 Td (more ) Tj ET Q q 0 0 0 rg BT 190.10 102.75 Td (costly ) Tj ET Q q 0 0 0 rg BT 217.79 102.75 Td (and ) Tj ET Q q 0 0 0 rg BT 236.02 102.75 Td (more ) Tj ET Q q 0 0 0 rg BT 260.37 102.75 Td (restrictive.��Negative ) Tj ET Q q 0 0 0 rg BT 347.74 102.75 Td (economic ) Tj ET Q q 0 0 0 rg BT 390.41 102.75 Td (conditions ) Tj ET Q q 0 0 0 rg BT 435.88 102.75 Td (could ) Tj ET Q q 0 0 0 rg BT 461.89 102.75 Td (also ) Tj ET Q q 0 0 0 rg BT 481.80 102.75 Td (adversely ) Tj ET Q q 0 0 0 rg BT 523.91 102.75 Td (af) Tj ET Q q 0 0 0 rg BT 531.50 102.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 550.29 102.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.75 Td (collectability ) Tj ET Q q 0 0 0 rg BT 105.42 90.75 Td (of ) Tj ET Q q 0 0 0 rg BT 117.47 90.75 Td (our ) Tj ET Q q 0 0 0 rg BT 134.51 90.75 Td (trade ) Tj ET Q q 0 0 0 rg BT 158.22 90.75 Td (receivables ) Tj ET Q q 0 0 0 rg BT 206.90 90.75 Td (or ) Tj ET Q q 0 0 0 rg BT 218.95 90.75 Td (performance ) Tj ET Q q 0 0 0 rg BT 273.19 90.75 Td (by ) Tj ET Q q 0 0 0 rg BT 286.91 90.75 Td (our ) Tj ET Q q 0 0 0 rg BT 303.96 90.75 Td (suppliers ) Tj ET Q q 0 0 0 rg BT 343.78 90.75 Td (or ) Tj ET Q q 0 0 0 rg BT 355.83 90.75 Td (cause ) Tj ET Q q 0 0 0 rg BT 381.75 90.75 Td (our ) Tj ET Q q 0 0 0 rg BT 398.80 90.75 Td (commodity ) Tj ET Q q 0 0 0 rg BT 448.07 90.75 Td (hedging ) Tj ET Q q 0 0 0 rg BT 484.00 90.75 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 541.58 90.75 Td (to ) Tj ET Q q 0 0 0 rg BT 553.08 90.75 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.75 Td (inef) Tj ET Q q 0 0 0 rg BT 64.87 78.75 Td (fective ) Tj ET Q q 0 0 0 rg BT 94.57 78.75 Td (if ) Tj ET Q q 0 0 0 rg BT 103.18 78.75 Td (our ) Tj ET Q q 0 0 0 rg BT 119.01 78.75 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 178.15 78.75 Td (are ) Tj ET Q q 0 0 0 rg BT 192.85 78.75 Td (unable ) Tj ET Q q 0 0 0 rg BT 222.01 78.75 Td (to ) Tj ET Q q 0 0 0 rg BT 232.29 78.75 Td (perform ) Tj ET Q q 0 0 0 rg BT 267.00 78.75 Td (their ) Tj ET Q q 0 0 0 rg BT 287.82 78.75 Td (obligations.) Tj ET Q endstream endobj 55 0 obj <> endobj 56 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (27) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 726.75 Td (Constraints ) Tj ET Q q 0 0 0 rg BT 102.00 726.75 Td (on ) Tj ET Q q 0 0 0 rg BT 115.07 726.75 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 153.69 726.75 Td (could ) Tj ET Q q 0 0 0 rg BT 179.53 726.75 Td (affect ) Tj ET Q q 0 0 0 rg BT 205.90 726.75 Td (our) Tj ET Q q 0 0 0 rg BT 220.72 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 223.22 726.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 252.95 726.75 Td (to ) Tj ET Q q 0 0 0 rg BT 263.78 726.75 Td (maintain ) Tj ET Q q 0 0 0 rg BT 304.62 726.75 Td (or) Tj ET Q q 0 0 0 rg BT 313.88 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 316.38 726.75 Td (incr) Tj ET Q q 0 0 0 rg BT 333.41 726.75 Td (ease ) Tj ET Q q 0 0 0 rg BT 353.68 726.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 375.07 726.75 Td (flow ) Tj ET Q q 0 0 0 rg BT 395.90 726.75 Td (fr) Tj ET Q q 0 0 0 rg BT 403.49 726.75 Td (om ) Tj ET Q q 0 0 0 rg BT 419.32 726.75 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 702.75 Td (In ) Tj ET Q q 0 0 0 rg BT 78.69 702.75 Td (recent ) Tj ET Q q 0 0 0 rg BT 105.98 702.75 Td (years, ) Tj ET Q q 0 0 0 rg BT 132.44 702.75 Td (sources ) Tj ET Q q 0 0 0 rg BT 165.29 702.75 Td (and ) Tj ET Q q 0 0 0 rg BT 182.59 702.75 Td (levels ) Tj ET Q q 0 0 0 rg BT 208.77 702.75 Td (of ) Tj ET Q q 0 0 0 rg BT 219.97 702.75 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 256.72 702.75 Td (for ) Tj ET Q q 0 0 0 rg BT 271.24 702.75 Td (the ) Tj ET Q q 0 0 0 rg BT 286.32 702.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 299.74 702.75 Td (and ) Tj ET Q q 0 0 0 rg BT 317.04 702.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 333.23 702.75 Td (industry ) Tj ET Q q 0 0 0 rg BT 368.87 702.75 Td (have ) Tj ET Q q 0 0 0 rg BT 390.61 702.75 Td (become ) Tj ET Q q 0 0 0 rg BT 424.56 702.75 Td (more ) Tj ET Q q 0 0 0 rg BT 447.97 702.75 Td (restrictive, ) Tj ET Q q 0 0 0 rg BT 493.31 702.75 Td (in ) Tj ET Q q 0 0 0 rg BT 503.95 702.75 Td (part ) Tj ET Q q 0 0 0 rg BT 522.36 702.75 Td (due ) Tj ET Q q 0 0 0 rg BT 539.66 702.75 Td (to ) Tj ET Q q 0 0 0 rg BT 550.30 702.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.75 Td (tightening ) Tj ET Q q 0 0 0 rg BT 92.80 690.75 Td (of ) Tj ET Q q 0 0 0 rg BT 103.88 690.75 Td (commercial ) Tj ET Q q 0 0 0 rg BT 153.82 690.75 Td (lenders. ) Tj ET Q q 0 0 0 rg BT 187.94 690.75 Td ( ) Tj ET Q q 0 0 0 rg BT 190.08 690.75 Td (Although ) Tj ET Q q 0 0 0 rg BT 230.61 690.75 Td (our ) Tj ET Q q 0 0 0 rg BT 246.68 690.75 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 283.32 690.75 Td (was ) Tj ET Q q 0 0 0 rg BT 301.62 690.75 Td (suf) Tj ET Q q 0 0 0 rg BT 313.66 690.75 Td (ficient ) Tj ET Q q 0 0 0 rg BT 341.95 690.75 Td (to ) Tj ET Q q 0 0 0 rg BT 352.48 690.75 Td (support ) Tj ET Q q 0 0 0 rg BT 385.22 690.75 Td (our ) Tj ET Q q 0 0 0 rg BT 401.30 690.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 430.70 690.75 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 484.54 690.75 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.39 690.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 533.39 690.75 Td (, ) Tj ET Q q 0 0 0 rg BT 538.64 690.75 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 92.28 678.75 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 128.97 678.75 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 176.20 678.75 Td (could ) Tj ET Q q 0 0 0 rg BT 201.21 678.75 Td (negatively ) Tj ET Q q 0 0 0 rg BT 245.65 678.75 Td (af) Tj ET Q q 0 0 0 rg BT 253.24 678.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 271.02 678.75 Td (our ) Tj ET Q q 0 0 0 rg BT 287.15 678.75 Td (level ) Tj ET Q q 0 0 0 rg BT 309.38 678.75 Td (of ) Tj ET Q q 0 0 0 rg BT 320.50 678.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 349.94 678.75 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 406.33 678.75 Td (and ) Tj ET Q q 0 0 0 rg BT 423.57 678.75 Td (thus ) Tj ET Q q 0 0 0 rg BT 443.03 678.75 Td (our ) Tj ET Q q 0 0 0 rg BT 459.15 678.75 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 512.48 678.75 Td (or ) Tj ET Q q 0 0 0 rg BT 523.60 678.75 Td (growth ) Tj ET Q q 0 0 0 rg BT 554.73 678.75 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.75 Td (production ) Tj ET Q q 0 0 0 rg BT 94.65 666.75 Td (and ) Tj ET Q q 0 0 0 rg BT 110.91 666.75 Td (operational ) Tj ET Q q 0 0 0 rg BT 157.71 666.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 177.30 666.75 Td (flow) Tj ET Q q 0 0 0 rg BT 194.98 666.75 Td (. ) Tj ET Q q 0 0 0 rg BT 199.31 666.75 Td ( ) Tj ET Q q 0 0 0 rg BT 200.73 666.75 Td (Additionally) Tj ET Q q 0 0 0 rg BT 250.63 666.75 Td (, ) Tj ET Q q 0 0 0 rg BT 254.95 666.75 Td (our ) Tj ET Q q 0 0 0 rg BT 270.11 666.75 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 305.82 666.75 Td (could ) Tj ET Q q 0 0 0 rg BT 329.86 666.75 Td (be ) Tj ET Q q 0 0 0 rg BT 341.12 666.75 Td (af) Tj ET Q q 0 0 0 rg BT 348.71 666.75 Td (fected ) Tj ET Q q 0 0 0 rg BT 374.96 666.75 Td (by ) Tj ET Q q 0 0 0 rg BT 386.78 666.75 Td (payments ) Tj ET Q q 0 0 0 rg BT 426.93 666.75 Td (made ) Tj ET Q q 0 0 0 rg BT 450.40 666.75 Td (upon ) Tj ET Q q 0 0 0 rg BT 472.23 666.75 Td (finalization ) Tj ET Q q 0 0 0 rg BT 519.59 666.75 Td (of ) Tj ET Q q 0 0 0 rg BT 529.74 666.75 Td (ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.75 Td (litigation ) Tj ET Q q 0 0 0 rg BT 88.08 654.75 Td (\(see ) Tj ET Q q 0 0 0 rg BT 106.64 654.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 127.43 654.75 Td (3, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 137.40 654.75 Td (Legal ) Tj ET Q q 0 0 0 rg BT 162.65 654.75 Td (Pr) Tj ET Q q 0 0 0 rg BT 172.28 654.75 Td (oceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.26 654.75 Td (\). ) Tj ET Q q 0 0 0 rg BT 220.56 654.75 Td ( ) Tj ET Q q 0 0 0 rg BT 222.85 654.75 Td (W) Tj ET Q q 0 0 0 rg BT 231.48 654.75 Td (e ) Tj ET Q q 0 0 0 rg BT 238.39 654.75 Td (require ) Tj ET Q q 0 0 0 rg BT 269.17 654.75 Td (continued ) Tj ET Q q 0 0 0 rg BT 311.07 654.75 Td (access ) Tj ET Q q 0 0 0 rg BT 339.08 654.75 Td (to ) Tj ET Q q 0 0 0 rg BT 349.32 654.75 Td (capital. ) Tj ET Q q 0 0 0 rg BT 380.94 654.75 Td ( ) Tj ET Q q 0 0 0 rg BT 382.86 654.75 Td (As ) Tj ET Q q 0 0 0 rg BT 396.44 654.75 Td (a ) Tj ET Q q 0 0 0 rg BT 403.35 654.75 Td (result, ) Tj ET Q q 0 0 0 rg BT 430.53 654.75 Td (we ) Tj ET Q q 0 0 0 rg BT 444.66 654.75 Td (may ) Tj ET Q q 0 0 0 rg BT 464.35 654.75 Td (seek ) Tj ET Q q 0 0 0 rg BT 484.58 654.75 Td (to ) Tj ET Q q 0 0 0 rg BT 494.83 654.75 Td (access ) Tj ET Q q 0 0 0 rg BT 522.83 654.75 Td (the ) Tj ET Q q 0 0 0 rg BT 537.52 654.75 Td (public ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.75 Td (or ) Tj ET Q q 0 0 0 rg BT 60.39 642.75 Td (private ) Tj ET Q q 0 0 0 rg BT 90.72 642.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 119.93 642.75 Td (markets ) Tj ET Q q 0 0 0 rg BT 154.15 642.75 Td (whenever ) Tj ET Q q 0 0 0 rg BT 195.58 642.75 Td (conditions ) Tj ET Q q 0 0 0 rg BT 239.81 642.75 Td (are ) Tj ET Q q 0 0 0 rg BT 254.58 642.75 Td (favorable, ) Tj ET Q q 0 0 0 rg BT 297.40 642.75 Td (even ) Tj ET Q q 0 0 0 rg BT 318.84 642.75 Td (if ) Tj ET Q q 0 0 0 rg BT 327.51 642.75 Td (we ) Tj ET Q q 0 0 0 rg BT 341.74 642.75 Td (do ) Tj ET Q q 0 0 0 rg BT 354.30 642.75 Td (not ) Tj ET Q q 0 0 0 rg BT 369.64 642.75 Td (have ) Tj ET Q q 0 0 0 rg BT 391.08 642.75 Td (an ) Tj ET Q q 0 0 0 rg BT 403.08 642.75 Td (immediate ) Tj ET Q q 0 0 0 rg BT 447.85 642.75 Td (need ) Tj ET Q q 0 0 0 rg BT 469.29 642.75 Td (for ) Tj ET Q q 0 0 0 rg BT 483.52 642.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 526.07 642.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 555.29 642.75 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.75 Td (that ) Tj ET Q q 0 0 0 rg BT 67.00 630.75 Td (time.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 606.75 Td (Our) Tj ET Q q 0 0 0 rg BT 67.10 606.75 Td ( ) Tj ET Q q 0 0 0 rg BT 69.60 606.75 Td (level ) Tj ET Q q 0 0 0 rg BT 91.53 606.75 Td (of ) Tj ET Q q 0 0 0 rg BT 102.36 606.75 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 159.88 606.75 Td (could ) Tj ET Q q 0 0 0 rg BT 185.72 606.75 Td (adversely ) Tj ET Q q 0 0 0 rg BT 228.76 606.75 Td (affect ) Tj ET Q q 0 0 0 rg BT 255.13 606.75 Td (the ) Tj ET Q q 0 0 0 rg BT 270.96 606.75 Td (level ) Tj ET Q q 0 0 0 rg BT 292.89 606.75 Td (of ) Tj ET Q q 0 0 0 rg BT 303.72 606.75 Td (our) Tj ET Q q 0 0 0 rg BT 318.54 606.75 Td ( ) Tj ET Q q 0 0 0 rg BT 321.04 606.75 Td (operating ) Tj ET Q q 0 0 0 rg BT 364.65 606.75 Td (activities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 582.75 Td (As ) Tj ET Q q 0 0 0 rg BT 82.55 582.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.81 582.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 154.83 582.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.83 582.75 Td (, ) Tj ET Q q 0 0 0 rg BT 181.26 582.75 Td (our ) Tj ET Q q 0 0 0 rg BT 198.52 582.75 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 249.12 582.75 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 304.71 582.75 Td (consisted ) Tj ET Q q 0 0 0 rg BT 345.86 582.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 358.12 582.75 Td ($1.5 ) Tj ET Q q 0 0 0 rg BT 379.56 582.75 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 405.67 582.75 Td ( ) Tj ET Q q 0 0 0 rg BT 409.60 582.75 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 452.40 582.75 Td (principal ) Tj ET Q q 0 0 0 rg BT 491.87 582.75 Td (amount ) Tj ET Q q 0 0 0 rg BT 525.80 582.75 Td (of ) Tj ET Q q 0 0 0 rg BT 538.06 582.75 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.75 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 103.56 570.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.40 570.75 Td ($826.2 ) Tj ET Q q 0 0 0 rg BT 150.31 570.75 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.20 570.75 Td ( ) Tj ET Q q 0 0 0 rg BT 181.60 570.75 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 222.87 570.75 Td (principal ) Tj ET Q q 0 0 0 rg BT 260.82 570.75 Td (amount ) Tj ET Q q 0 0 0 rg BT 293.22 570.75 Td (of ) Tj ET Q q 0 0 0 rg BT 303.95 570.75 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 358.01 570.75 Td (indebtedness. ) Tj ET Q q 0 0 0 rg BT 414.57 570.75 Td ( ) Tj ET Q q 0 0 0 rg BT 416.98 570.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 434.93 570.75 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 484.00 570.75 Td (senior ) Tj ET Q q 0 0 0 rg BT 510.85 570.75 Td (indebtedness ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.75 Td (consisted ) Tj ET Q q 0 0 0 rg BT 88.69 558.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 99.00 558.75 Td ($614.9 ) Tj ET Q q 0 0 0 rg BT 128.48 558.75 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.37 558.75 Td ( ) Tj ET Q q 0 0 0 rg BT 159.35 558.75 Td (principal ) Tj ET Q q 0 0 0 rg BT 196.87 558.75 Td (amount ) Tj ET Q q 0 0 0 rg BT 228.84 558.75 Td (of ) Tj ET Q q 0 0 0 rg BT 239.15 558.75 Td (9% ) Tj ET Q q 0 0 0 rg BT 254.46 558.75 Td (Senior ) Tj ET Q q 0 0 0 rg BT 282.54 558.75 Td (Secured ) Tj ET Q q 0 0 0 rg BT 316.73 558.75 Td (Second ) Tj ET Q q 0 0 0 rg BT 348.14 558.75 Td (Lien ) Tj ET Q q 0 0 0 rg BT 368.45 558.75 Td (Notes ) Tj ET Q q 0 0 0 rg BT 393.75 558.75 Td (due ) Tj ET Q q 0 0 0 rg BT 410.17 558.75 Td (2021, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 558.75 Td ($455.7 ) Tj ET Q q 0 0 0 rg BT 464.12 558.75 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.02 558.75 Td ( ) Tj ET Q q 0 0 0 rg BT 494.99 558.75 Td (principal ) Tj ET Q q 0 0 0 rg BT 532.51 558.75 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.75 Td (of ) Tj ET Q q 0 0 0 rg BT 60.25 546.75 Td (9�% ) Tj ET Q q 0 0 0 rg BT 83.49 546.75 Td (Senior ) Tj ET Q q 0 0 0 rg BT 112.02 546.75 Td (Secured ) Tj ET Q q 0 0 0 rg BT 146.64 546.75 Td (Second ) Tj ET Q q 0 0 0 rg BT 178.49 546.75 Td (Lien ) Tj ET Q q 0 0 0 rg BT 199.24 546.75 Td (Notes ) Tj ET Q q 0 0 0 rg BT 224.98 546.75 Td (due ) Tj ET Q q 0 0 0 rg BT 241.84 546.75 Td (2022, ) Tj ET Q q 0 0 0 rg BT 266.75 546.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.61 546.75 Td ($450.0 ) Tj ET Q q 0 0 0 rg BT 313.52 546.75 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.41 546.75 Td ( ) Tj ET Q q 0 0 0 rg BT 344.83 546.75 Td (principal ) Tj ET Q q 0 0 0 rg BT 382.79 546.75 Td (amount ) Tj ET Q q 0 0 0 rg BT 415.20 546.75 Td (of ) Tj ET Q q 0 0 0 rg BT 425.95 546.75 Td (7�% ) Tj ET Q q 0 0 0 rg BT 449.19 546.75 Td (Senior ) Tj ET Q q 0 0 0 rg BT 477.72 546.75 Td (Secured ) Tj ET Q q 0 0 0 rg BT 512.34 546.75 Td (Second ) Tj ET Q q 0 0 0 rg BT 544.19 546.75 Td (Lien ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.75 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.05 534.75 Td (due ) Tj ET Q q 0 0 0 rg BT 91.72 534.75 Td (2024. ) Tj ET Q q 0 0 0 rg BT 116.44 534.75 Td ( ) Tj ET Q q 0 0 0 rg BT 118.67 534.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 136.44 534.75 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 190.32 534.75 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 244.20 534.75 Td (consisted ) Tj ET Q q 0 0 0 rg BT 283.64 534.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.19 534.75 Td ($826.2 ) Tj ET Q q 0 0 0 rg BT 323.92 534.75 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.81 534.75 Td ( ) Tj ET Q q 0 0 0 rg BT 355.03 534.75 Td (principal ) Tj ET Q q 0 0 0 rg BT 392.80 534.75 Td (amount ) Tj ET Q q 0 0 0 rg BT 425.02 534.75 Td (of ) Tj ET Q q 0 0 0 rg BT 435.57 534.75 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 489.45 534.75 Td (notes, ) Tj ET Q q 0 0 0 rg BT 515.29 534.75 Td (all ) Tj ET Q q 0 0 0 rg BT 527.51 534.75 Td (of ) Tj ET Q q 0 0 0 rg BT 538.06 534.75 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.75 Td (have ) Tj ET Q q 0 0 0 rg BT 71.26 522.75 Td (maturity ) Tj ET Q q 0 0 0 rg BT 108.02 522.75 Td (dates ) Tj ET Q q 0 0 0 rg BT 131.45 522.75 Td (between ) Tj ET Q q 0 0 0 rg BT 167.64 522.75 Td (2021 ) Tj ET Q q 0 0 0 rg BT 190.53 522.75 Td (and ) Tj ET Q q 0 0 0 rg BT 207.84 522.75 Td (2023 ) Tj ET Q q 0 0 0 rg BT 230.73 522.75 Td (at ) Tj ET Q q 0 0 0 rg BT 240.82 522.75 Td (interest ) Tj ET Q q 0 0 0 rg BT 273.14 522.75 Td (rates ) Tj ET Q q 0 0 0 rg BT 294.90 522.75 Td (ranging ) Tj ET Q q 0 0 0 rg BT 328.32 522.75 Td (from ) Tj ET Q q 0 0 0 rg BT 350.64 522.75 Td (4.625% ) Tj ET Q q 0 0 0 rg BT 384.35 522.75 Td (to ) Tj ET Q q 0 0 0 rg BT 395.01 522.75 Td (6.375% ) Tj ET Q q 0 0 0 rg BT 428.72 522.75 Td (per ) Tj ET Q q 0 0 0 rg BT 444.37 522.75 Td (annum ) Tj ET Q q 0 0 0 rg BT 474.47 522.75 Td (at ) Tj ET Q q 0 0 0 rg BT 484.57 522.75 Td (a ) Tj ET Q q 0 0 0 rg BT 491.89 522.75 Td (weighted ) Tj ET Q q 0 0 0 rg BT 531.42 522.75 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.75 Td (interest ) Tj ET Q q 0 0 0 rg BT 81.10 510.75 Td (rate ) Tj ET Q q 0 0 0 rg BT 98.26 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 108.76 510.75 Td (5.39% ) Tj ET Q q 0 0 0 rg BT 136.76 510.75 Td (per ) Tj ET Q q 0 0 0 rg BT 151.70 510.75 Td (annum. ) Tj ET Q q 0 0 0 rg BT 183.59 510.75 Td ( ) Tj ET Q q 0 0 0 rg BT 185.28 510.75 Td (As ) Tj ET Q q 0 0 0 rg BT 198.56 510.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.06 510.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 267.32 510.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.32 510.75 Td (, ) Tj ET Q q 0 0 0 rg BT 291.99 510.75 Td (we ) Tj ET Q q 0 0 0 rg BT 305.82 510.75 Td (had ) Tj ET Q q 0 0 0 rg BT 322.43 510.75 Td (no ) Tj ET Q q 0 0 0 rg BT 334.60 510.75 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 383.43 510.75 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 431.15 510.75 Td (on ) Tj ET Q q 0 0 0 rg BT 443.33 510.75 Td (our ) Tj ET Q q 0 0 0 rg BT 458.83 510.75 Td (senior ) Tj ET Q q 0 0 0 rg BT 485.43 510.75 Td (secured ) Tj ET Q q 0 0 0 rg BT 518.14 510.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 539.75 510.75 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.75 Td (facility) Tj ET Q q 0 0 0 rg BT 77.17 498.75 Td (, ) Tj ET Q q 0 0 0 rg BT 82.61 498.75 Td (a ) Tj ET Q q 0 0 0 rg BT 90.00 498.75 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 134.60 498.75 Td (base ) Tj ET Q q 0 0 0 rg BT 155.31 498.75 Td (and ) Tj ET Q q 0 0 0 rg BT 172.69 498.75 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 214.50 498.75 Td (lender ) Tj ET Q q 0 0 0 rg BT 242.43 498.75 Td (commitments ) Tj ET Q q 0 0 0 rg BT 299.81 498.75 Td (of ) Tj ET Q q 0 0 0 rg BT 311.08 498.75 Td ($615 ) Tj ET Q q 0 0 0 rg BT 334.03 498.75 Td (million ) Tj ET Q q 0 0 0 rg BT 365.86 498.75 Td (under ) Tj ET Q q 0 0 0 rg BT 391.57 498.75 Td (our ) Tj ET Q q 0 0 0 rg BT 407.85 498.75 Td (senior ) Tj ET Q q 0 0 0 rg BT 435.23 498.75 Td (secured ) Tj ET Q q 0 0 0 rg BT 468.71 498.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 491.09 498.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 516.80 498.75 Td (facility ) Tj ET Q q 0 0 0 rg BT 548.06 498.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.75 Td (availability ) Tj ET Q q 0 0 0 rg BT 96.11 486.75 Td (with ) Tj ET Q q 0 0 0 rg BT 115.51 486.75 Td (respect ) Tj ET Q q 0 0 0 rg BT 145.45 486.75 Td (to ) Tj ET Q q 0 0 0 rg BT 154.85 486.75 Td (such ) Tj ET Q q 0 0 0 rg BT 174.81 486.75 Td (commitments ) Tj ET Q q 0 0 0 rg BT 230.87 486.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 240.82 486.75 Td ($553.0 ) Tj ET Q q 0 0 0 rg BT 269.94 486.75 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.84 486.75 Td ( ) Tj ET Q q 0 0 0 rg BT 300.46 486.75 Td (after ) Tj ET Q q 0 0 0 rg BT 320.40 486.75 Td (considering ) Tj ET Q q 0 0 0 rg BT 368.68 486.75 Td (letters ) Tj ET Q q 0 0 0 rg BT 394.73 486.75 Td (of ) Tj ET Q q 0 0 0 rg BT 404.69 486.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 429.08 486.75 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 479.86 486.75 Td ( ) Tj ET Q q 0 0 0 rg BT 481.13 486.75 Td (Although ) Tj ET Q q 0 0 0 rg BT 520.53 486.75 Td (the ) Tj ET Q q 0 0 0 rg BT 534.37 486.75 Td (mer) Tj ET Q q 0 0 0 rg BT 549.74 486.75 Td (ger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.75 Td (is ) Tj ET Q q 0 0 0 rg BT 58.27 474.75 Td (currently ) Tj ET Q q 0 0 0 rg BT 96.46 474.75 Td (expected ) Tj ET Q q 0 0 0 rg BT 134.09 474.75 Td (to ) Tj ET Q q 0 0 0 rg BT 143.96 474.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 178.81 474.75 Td (our ) Tj ET Q q 0 0 0 rg BT 194.24 474.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 213.56 474.75 Td (levels ) Tj ET Q q 0 0 0 rg BT 238.98 474.75 Td (while ) Tj ET Q q 0 0 0 rg BT 263.29 474.75 Td (improving ) Tj ET Q q 0 0 0 rg BT 307.05 474.75 Td (our ) Tj ET Q q 0 0 0 rg BT 322.48 474.75 Td (leverage ) Tj ET Q q 0 0 0 rg BT 358.44 474.75 Td (metrics ) Tj ET Q q 0 0 0 rg BT 389.97 474.75 Td (and ) Tj ET Q q 0 0 0 rg BT 406.51 474.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 426.37 474.75 Td (flow) Tj ET Q q 0 0 0 rg BT 444.05 474.75 Td (, ) Tj ET Q q 0 0 0 rg BT 448.65 474.75 Td (consummation ) Tj ET Q q 0 0 0 rg BT 509.63 474.75 Td (of ) Tj ET Q q 0 0 0 rg BT 520.06 474.75 Td (the ) Tj ET Q q 0 0 0 rg BT 534.37 474.75 Td (mer) Tj ET Q q 0 0 0 rg BT 549.74 474.75 Td (ger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.75 Td (would ) Tj ET Q q 0 0 0 rg BT 77.00 462.75 Td (further ) Tj ET Q q 0 0 0 rg BT 106.71 462.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 141.96 462.75 Td (our ) Tj ET Q q 0 0 0 rg BT 157.79 462.75 Td (exposure ) Tj ET Q q 0 0 0 rg BT 196.39 462.75 Td (to ) Tj ET Q q 0 0 0 rg BT 206.67 462.75 Td (economic ) Tj ET Q q 0 0 0 rg BT 248.04 462.75 Td (or ) Tj ET Q q 0 0 0 rg BT 258.87 462.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 271.93 462.75 Td (price ) Tj ET Q q 0 0 0 rg BT 294.41 462.75 Td (downturns ) Tj ET Q q 0 0 0 rg BT 339.13 462.75 Td (and ) Tj ET Q q 0 0 0 rg BT 356.07 462.75 Td (the ) Tj ET Q q 0 0 0 rg BT 370.79 462.75 Td (negative ) Tj ET Q q 0 0 0 rg BT 407.16 462.75 Td (ef) Tj ET Q q 0 0 0 rg BT 414.75 462.75 Td (fects ) Tj ET Q q 0 0 0 rg BT 436.13 462.75 Td (thereof.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 438.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.55 438.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 105.27 438.75 Td (could ) Tj ET Q q 0 0 0 rg BT 129.99 438.75 Td (have ) Tj ET Q q 0 0 0 rg BT 151.36 438.75 Td (important ) Tj ET Q q 0 0 0 rg BT 192.74 438.75 Td (consequences ) Tj ET Q q 0 0 0 rg BT 250.22 438.75 Td (for ) Tj ET Q q 0 0 0 rg BT 264.38 438.75 Td (us, ) Tj ET Q q 0 0 0 rg BT 278.27 438.75 Td (including ) Tj ET Q q 0 0 0 rg BT 318.54 438.75 Td (but ) Tj ET Q q 0 0 0 rg BT 333.82 438.75 Td (not ) Tj ET Q q 0 0 0 rg BT 349.10 438.75 Td (limited ) Tj ET Q q 0 0 0 rg BT 379.93 438.75 Td (to ) Tj ET Q q 0 0 0 rg BT 390.21 438.75 Td (the ) Tj ET Q q 0 0 0 rg BT 404.93 438.75 Td (following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 414.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 414.75 Td (increasing ) Tj ET Q q 0 0 0 rg BT 129.09 414.75 Td (our ) Tj ET Q q 0 0 0 rg BT 144.92 414.75 Td (vulnerability ) Tj ET Q q 0 0 0 rg BT 198.52 414.75 Td (to ) Tj ET Q q 0 0 0 rg BT 208.80 414.75 Td (general ) Tj ET Q q 0 0 0 rg BT 240.72 414.75 Td (adverse ) Tj ET Q q 0 0 0 rg BT 273.76 414.75 Td (economic ) Tj ET Q q 0 0 0 rg BT 315.13 414.75 Td (and ) Tj ET Q q 0 0 0 rg BT 332.07 414.75 Td (industry ) Tj ET Q q 0 0 0 rg BT 367.35 414.75 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 414.02 414.75 Td (including ) Tj ET Q q 0 0 0 rg BT 454.29 414.75 Td (falling ) Tj ET Q q 0 0 0 rg BT 482.89 414.75 Td (crude ) Tj ET Q q 0 0 0 rg BT 507.60 414.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 520.66 414.75 Td (prices;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 402.75 Td (impairing ) Tj ET Q q 0 0 0 rg BT 126.87 402.75 Td (our ) Tj ET Q q 0 0 0 rg BT 142.70 402.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 170.74 402.75 Td (to ) Tj ET Q q 0 0 0 rg BT 181.01 402.75 Td (obtain ) Tj ET Q q 0 0 0 rg BT 208.50 402.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 250.98 402.75 Td (financing ) Tj ET Q q 0 0 0 rg BT 291.24 402.75 Td (for ) Tj ET Q q 0 0 0 rg BT 305.39 402.75 Td (working ) Tj ET Q q 0 0 0 rg BT 341.22 402.75 Td (capital, ) Tj ET Q q 0 0 0 rg BT 372.86 402.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 402.00 402.75 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 458.09 402.75 Td (acquisitions, ) Tj ET Q q 0 0 0 rg BT 510.85 402.75 Td (development ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 390.75 Td (activities ) Tj ET Q q 0 0 0 rg BT 124.10 390.75 Td (or ) Tj ET Q q 0 0 0 rg BT 134.93 390.75 Td (general ) Tj ET Q q 0 0 0 rg BT 166.85 390.75 Td (corporate ) Tj ET Q q 0 0 0 rg BT 207.11 390.75 Td (and ) Tj ET Q q 0 0 0 rg BT 224.04 390.75 Td (other ) Tj ET Q q 0 0 0 rg BT 247.09 390.75 Td (purposes;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 378.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 378.75 Td (potentially ) Tj ET Q q 0 0 0 rg BT 130.77 378.75 Td (restricting ) Tj ET Q q 0 0 0 rg BT 173.81 378.75 Td (us ) Tj ET Q q 0 0 0 rg BT 185.20 378.75 Td (from ) Tj ET Q q 0 0 0 rg BT 207.14 378.75 Td (making ) Tj ET Q q 0 0 0 rg BT 239.64 378.75 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 289.91 378.75 Td (or ) Tj ET Q q 0 0 0 rg BT 300.74 378.75 Td (exploiting ) Tj ET Q q 0 0 0 rg BT 343.79 378.75 Td (business ) Tj ET Q q 0 0 0 rg BT 380.18 378.75 Td (opportunities;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 366.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 366.75 Td (requiring ) Tj ET Q q 0 0 0 rg BT 124.19 366.75 Td (dedication ) Tj ET Q q 0 0 0 rg BT 167.87 366.75 Td (of ) Tj ET Q q 0 0 0 rg BT 178.23 366.75 Td (a ) Tj ET Q q 0 0 0 rg BT 184.70 366.75 Td (substantial ) Tj ET Q q 0 0 0 rg BT 229.50 366.75 Td (portion ) Tj ET Q q 0 0 0 rg BT 260.42 366.75 Td (of ) Tj ET Q q 0 0 0 rg BT 270.78 366.75 Td (our ) Tj ET Q q 0 0 0 rg BT 286.14 366.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 305.94 366.75 Td (flows ) Tj ET Q q 0 0 0 rg BT 330.20 366.75 Td (from ) Tj ET Q q 0 0 0 rg BT 351.67 366.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 395.35 366.75 Td (to ) Tj ET Q q 0 0 0 rg BT 405.16 366.75 Td (servicing ) Tj ET Q q 0 0 0 rg BT 443.85 366.75 Td (our ) Tj ET Q q 0 0 0 rg BT 459.21 366.75 Td (indebtedness ) Tj ET Q q 0 0 0 rg BT 512.90 366.75 Td (\(so ) Tj ET Q q 0 0 0 rg BT 527.15 366.75 Td (that ) Tj ET Q q 0 0 0 rg BT 544.18 366.75 Td (such ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 354.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 105.77 354.75 Td (flows ) Tj ET Q q 0 0 0 rg BT 130.49 354.75 Td (would ) Tj ET Q q 0 0 0 rg BT 157.99 354.75 Td (not ) Tj ET Q q 0 0 0 rg BT 173.27 354.75 Td (be ) Tj ET Q q 0 0 0 rg BT 185.21 354.75 Td (available ) Tj ET Q q 0 0 0 rg BT 223.80 354.75 Td (for ) Tj ET Q q 0 0 0 rg BT 237.96 354.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 267.11 354.75 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 320.70 354.75 Td (or ) Tj ET Q q 0 0 0 rg BT 331.53 354.75 Td (other ) Tj ET Q q 0 0 0 rg BT 354.58 354.75 Td (purposes\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 342.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 342.75 Td (limiting ) Tj ET Q q 0 0 0 rg BT 119.67 342.75 Td (our ) Tj ET Q q 0 0 0 rg BT 135.50 342.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 163.55 342.75 Td (to ) Tj ET Q q 0 0 0 rg BT 173.83 342.75 Td (borrow ) Tj ET Q q 0 0 0 rg BT 205.21 342.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 247.70 342.75 Td (funds, ) Tj ET Q q 0 0 0 rg BT 274.92 342.75 Td (dispose ) Tj ET Q q 0 0 0 rg BT 307.42 342.75 Td (of ) Tj ET Q q 0 0 0 rg BT 318.25 342.75 Td (assets ) Tj ET Q q 0 0 0 rg BT 344.08 342.75 Td (and ) Tj ET Q q 0 0 0 rg BT 361.02 342.75 Td (make ) Tj ET Q q 0 0 0 rg BT 385.18 342.75 Td (certain ) Tj ET Q q 0 0 0 rg BT 414.88 342.75 Td (investments; ) Tj ET Q q 0 0 0 rg BT 467.93 342.75 Td (and/or) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 330.75 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 330.75 Td (placing ) Tj ET Q q 0 0 0 rg BT 117.43 330.75 Td (us ) Tj ET Q q 0 0 0 rg BT 128.83 330.75 Td (at ) Tj ET Q q 0 0 0 rg BT 138.54 330.75 Td (a ) Tj ET Q q 0 0 0 rg BT 145.48 330.75 Td (competitive ) Tj ET Q q 0 0 0 rg BT 195.19 330.75 Td (disadvantage ) Tj ET Q q 0 0 0 rg BT 249.89 330.75 Td (as ) Tj ET Q q 0 0 0 rg BT 260.72 330.75 Td (compared ) Tj ET Q q 0 0 0 rg BT 302.64 330.75 Td (to ) Tj ET Q q 0 0 0 rg BT 312.92 330.75 Td (our ) Tj ET Q q 0 0 0 rg BT 328.75 330.75 Td (competitors ) Tj ET Q q 0 0 0 rg BT 378.46 330.75 Td (that ) Tj ET Q q 0 0 0 rg BT 395.96 330.75 Td (have ) Tj ET Q q 0 0 0 rg BT 417.34 330.75 Td (less ) Tj ET Q q 0 0 0 rg BT 434.84 330.75 Td (debt.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (Incr) Tj ET Q q 0 0 0 rg BT 67.65 306.75 Td (eases ) Tj ET Q q 0 0 0 rg BT 91.81 306.75 Td (in ) Tj ET Q q 0 0 0 rg BT 102.65 306.75 Td (inter) Tj ET Q q 0 0 0 rg BT 123.02 306.75 Td (est ) Tj ET Q q 0 0 0 rg BT 137.18 306.75 Td (rates ) Tj ET Q q 0 0 0 rg BT 160.77 306.75 Td (could ) Tj ET Q q 0 0 0 rg BT 186.61 306.75 Td (adversely ) Tj ET Q q 0 0 0 rg BT 229.66 306.75 Td (affect ) Tj ET Q q 0 0 0 rg BT 256.03 306.75 Td (our) Tj ET Q q 0 0 0 rg BT 270.85 306.75 Td ( ) Tj ET Q q 0 0 0 rg BT 273.35 306.75 Td (business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 282.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.33 282.75 Td (business ) Tj ET Q q 0 0 0 rg BT 121.50 282.75 Td (and ) Tj ET Q q 0 0 0 rg BT 138.22 282.75 Td (operating ) Tj ET Q q 0 0 0 rg BT 178.26 282.75 Td (results ) Tj ET Q q 0 0 0 rg BT 206.64 282.75 Td (can ) Tj ET Q q 0 0 0 rg BT 222.80 282.75 Td (be ) Tj ET Q q 0 0 0 rg BT 234.51 282.75 Td (harmed ) Tj ET Q q 0 0 0 rg BT 266.78 282.75 Td (by ) Tj ET Q q 0 0 0 rg BT 279.06 282.75 Td (increases ) Tj ET Q q 0 0 0 rg BT 317.98 282.75 Td (in ) Tj ET Q q 0 0 0 rg BT 328.03 282.75 Td (interest ) Tj ET Q q 0 0 0 rg BT 359.75 282.75 Td (rates. ) Tj ET Q q 0 0 0 rg BT 383.40 282.75 Td ( ) Tj ET Q q 0 0 0 rg BT 385.51 282.75 Td (These ) Tj ET Q q 0 0 0 rg BT 411.67 282.75 Td (changes ) Tj ET Q q 0 0 0 rg BT 446.15 282.75 Td (could ) Tj ET Q q 0 0 0 rg BT 470.65 282.75 Td (cause ) Tj ET Q q 0 0 0 rg BT 495.13 282.75 Td (our ) Tj ET Q q 0 0 0 rg BT 510.74 282.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 529.13 282.75 Td (of ) Tj ET Q q 0 0 0 rg BT 539.74 282.75 Td (doing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.75 Td (business ) Tj ET Q q 0 0 0 rg BT 85.19 270.75 Td (to ) Tj ET Q q 0 0 0 rg BT 94.78 270.75 Td (increase, ) Tj ET Q q 0 0 0 rg BT 131.83 270.75 Td (limit ) Tj ET Q q 0 0 0 rg BT 152.53 270.75 Td (our ) Tj ET Q q 0 0 0 rg BT 167.66 270.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 195.02 270.75 Td (to ) Tj ET Q q 0 0 0 rg BT 204.60 270.75 Td (pursue ) Tj ET Q q 0 0 0 rg BT 233.06 270.75 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 278.75 270.75 Td (opportunities, ) Tj ET Q q 0 0 0 rg BT 335.82 270.75 Td (reduce ) Tj ET Q q 0 0 0 rg BT 364.27 270.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 383.84 270.75 Td (flow) Tj ET Q q 0 0 0 rg BT 401.52 270.75 Td (, ) Tj ET Q q 0 0 0 rg BT 405.83 270.75 Td (af) Tj ET Q q 0 0 0 rg BT 413.42 270.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 430.20 270.75 Td (our ) Tj ET Q q 0 0 0 rg BT 445.34 270.75 Td (interest ) Tj ET Q q 0 0 0 rg BT 476.57 270.75 Td (costs ) Tj ET Q q 0 0 0 rg BT 498.38 270.75 Td (under ) Tj ET Q q 0 0 0 rg BT 522.95 270.75 Td (our ) Tj ET Q q 0 0 0 rg BT 538.08 270.75 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.75 Td (secured ) Tj ET Q q 0 0 0 rg BT 82.54 258.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 104.48 258.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 129.74 258.75 Td (facility) Tj ET Q q 0 0 0 rg BT 157.41 258.75 Td (, ) Tj ET Q q 0 0 0 rg BT 162.41 258.75 Td (or ) Tj ET Q q 0 0 0 rg BT 173.24 258.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 208.49 258.75 Td (the ) Tj ET Q q 0 0 0 rg BT 223.21 258.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 241.82 258.75 Td (of ) Tj ET Q q 0 0 0 rg BT 252.65 258.75 Td (any ) Tj ET Q q 0 0 0 rg BT 269.59 258.75 Td (new ) Tj ET Q q 0 0 0 rg BT 288.75 258.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 308.46 258.75 Td (financings.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 234.75 Td (Inability ) Tj ET Q q 0 0 0 rg BT 87.76 234.75 Td (to ) Tj ET Q q 0 0 0 rg BT 97.67 234.75 Td (meet ) Tj ET Q q 0 0 0 rg BT 119.78 234.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 158.59 234.75 Td (performance ) Tj ET Q q 0 0 0 rg BT 215.14 234.75 Td (covenants ) Tj ET Q q 0 0 0 rg BT 258.94 234.75 Td (in ) Tj ET Q q 0 0 0 rg BT 268.86 234.75 Td (our) Tj ET Q q 0 0 0 rg BT 283.68 234.75 Td ( ) Tj ET Q q 0 0 0 rg BT 285.26 234.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 308.52 234.75 Td (agr) Tj ET Q q 0 0 0 rg BT 322.78 234.75 Td (eements ) Tj ET Q q 0 0 0 rg BT 358.79 234.75 Td (may ) Tj ET Q q 0 0 0 rg BT 378.70 234.75 Td (r) Tj ET Q q 0 0 0 rg BT 382.95 234.75 Td (equir) Tj ET Q q 0 0 0 rg BT 405.55 234.75 Td (e ) Tj ET Q q 0 0 0 rg BT 411.57 234.75 Td (us ) Tj ET Q q 0 0 0 rg BT 422.60 234.75 Td (to ) Tj ET Q q 0 0 0 rg BT 432.51 234.75 Td (seek ) Tj ET Q q 0 0 0 rg BT 452.42 234.75 Td (modification ) Tj ET Q q 0 0 0 rg BT 507.88 234.75 Td (of ) Tj ET Q q 0 0 0 rg BT 517.79 234.75 Td (covenants, ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 222.75 Td (for) Tj ET Q q 0 0 0 rg BT 62.09 222.75 Td (ce ) Tj ET Q q 0 0 0 rg BT 73.46 222.75 Td (a ) Tj ET Q q 0 0 0 rg BT 80.96 222.75 Td (r) Tj ET Q q 0 0 0 rg BT 85.22 222.75 Td (eduction ) Tj ET Q q 0 0 0 rg BT 124.39 222.75 Td (in ) Tj ET Q q 0 0 0 rg BT 135.23 222.75 Td (our) Tj ET Q q 0 0 0 rg BT 150.05 222.75 Td ( ) Tj ET Q q 0 0 0 rg BT 152.55 222.75 Td (borr) Tj ET Q q 0 0 0 rg BT 171.81 222.75 Td (owing ) Tj ET Q q 0 0 0 rg BT 199.87 222.75 Td (base, ) Tj ET Q q 0 0 0 rg BT 223.76 222.75 Td (or) Tj ET Q q 0 0 0 rg BT 233.02 222.75 Td ( ) Tj ET Q q 0 0 0 rg BT 235.52 222.75 Td (cause ) Tj ET Q q 0 0 0 rg BT 261.35 222.75 Td (r) Tj ET Q q 0 0 0 rg BT 265.61 222.75 Td (epayment ) Tj ET Q q 0 0 0 rg BT 309.77 222.75 Td (of ) Tj ET Q q 0 0 0 rg BT 320.60 222.75 Td (amounts ) Tj ET Q q 0 0 0 rg BT 359.77 222.75 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 412.85 222.75 Td (under) Tj ET Q q 0 0 0 rg BT 438.23 222.75 Td ( ) Tj ET Q q 0 0 0 rg BT 440.73 222.75 Td (our) Tj ET Q q 0 0 0 rg BT 455.55 222.75 Td ( ) Tj ET Q q 0 0 0 rg BT 458.05 222.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 482.23 222.75 Td (cr) Tj ET Q q 0 0 0 rg BT 490.93 222.75 Td (edit ) Tj ET Q q 0 0 0 rg BT 509.54 222.75 Td (facility) Tj ET Q q 0 0 0 rg BT 538.42 222.75 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 198.75 Td (Between ) Tj ET Q q 0 0 0 rg BT 105.03 198.75 Td (May ) Tj ET Q q 0 0 0 rg BT 125.90 198.75 Td (2015 ) Tj ET Q q 0 0 0 rg BT 148.44 198.75 Td (and ) Tj ET Q q 0 0 0 rg BT 164.86 198.75 Td (August ) Tj ET Q q 0 0 0 rg BT 196.30 198.75 Td (2018, ) Tj ET Q q 0 0 0 rg BT 221.34 198.75 Td (we ) Tj ET Q q 0 0 0 rg BT 235.54 198.75 Td (modified ) Tj ET Q q 0 0 0 rg BT 274.19 198.75 Td (certain ) Tj ET Q q 0 0 0 rg BT 303.94 198.75 Td (of ) Tj ET Q q 0 0 0 rg BT 314.81 198.75 Td (our ) Tj ET Q q 0 0 0 rg BT 330.68 198.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 368.21 198.75 Td (performance ) Tj ET Q q 0 0 0 rg BT 421.27 198.75 Td (covenants ) Tj ET Q q 0 0 0 rg BT 463.80 198.75 Td (under ) Tj ET Q q 0 0 0 rg BT 489.11 198.75 Td (our ) Tj ET Q q 0 0 0 rg BT 504.98 198.75 Td (senior ) Tj ET Q q 0 0 0 rg BT 531.97 198.75 Td (secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 72.46 186.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 98.74 186.75 Td (facility ) Tj ET Q q 0 0 0 rg BT 130.58 186.75 Td (to ) Tj ET Q q 0 0 0 rg BT 141.87 186.75 Td (support ) Tj ET Q q 0 0 0 rg BT 175.39 186.75 Td (continuing ) Tj ET Q q 0 0 0 rg BT 221.68 186.75 Td (compliance ) Tj ET Q q 0 0 0 rg BT 271.29 186.75 Td (with ) Tj ET Q q 0 0 0 rg BT 292.59 186.75 Td (these ) Tj ET Q q 0 0 0 rg BT 316.65 186.75 Td (covenants ) Tj ET Q q 0 0 0 rg BT 360.15 186.75 Td (through ) Tj ET Q q 0 0 0 rg BT 394.78 186.75 Td (the ) Tj ET Q q 0 0 0 rg BT 410.52 186.75 Td (lower ) Tj ET Q q 0 0 0 rg BT 436.80 186.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 450.88 186.75 Td (price ) Tj ET Q q 0 0 0 rg BT 474.38 186.75 Td (environment ) Tj ET Q q 0 0 0 rg BT 528.44 186.75 Td (we ) Tj ET Q q 0 0 0 rg BT 543.62 186.75 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.75 Td (experienced ) Tj ET Q q 0 0 0 rg BT 100.41 174.75 Td (over ) Tj ET Q q 0 0 0 rg BT 120.80 174.75 Td (the ) Tj ET Q q 0 0 0 rg BT 135.63 174.75 Td (last ) Tj ET Q q 0 0 0 rg BT 152.13 174.75 Td (several ) Tj ET Q q 0 0 0 rg BT 183.06 174.75 Td (years. ) Tj ET Q q 0 0 0 rg BT 209.27 174.75 Td ( ) Tj ET Q q 0 0 0 rg BT 211.88 174.75 Td (In ) Tj ET Q q 0 0 0 rg BT 222.25 174.75 Td (August ) Tj ET Q q 0 0 0 rg BT 253.76 174.75 Td (2018, ) Tj ET Q q 0 0 0 rg BT 278.87 174.75 Td (we ) Tj ET Q q 0 0 0 rg BT 293.14 174.75 Td (extended ) Tj ET Q q 0 0 0 rg BT 331.85 174.75 Td (the ) Tj ET Q q 0 0 0 rg BT 346.68 174.75 Td (maturity ) Tj ET Q q 0 0 0 rg BT 383.18 174.75 Td (of ) Tj ET Q q 0 0 0 rg BT 394.12 174.75 Td (our ) Tj ET Q q 0 0 0 rg BT 410.06 174.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 432.12 174.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 457.49 174.75 Td (facility ) Tj ET Q q 0 0 0 rg BT 488.43 174.75 Td (to ) Tj ET Q q 0 0 0 rg BT 498.82 174.75 Td (December ) Tj ET Q q 0 0 0 rg BT 542.52 174.75 Td (2021 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.75 Td (and ) Tj ET Q q 0 0 0 rg BT 66.90 162.75 Td (reset ) Tj ET Q q 0 0 0 rg BT 88.74 162.75 Td (certain ) Tj ET Q q 0 0 0 rg BT 118.90 162.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 156.84 162.75 Td (performance ) Tj ET Q q 0 0 0 rg BT 210.32 162.75 Td (covenants ) Tj ET Q q 0 0 0 rg BT 253.27 162.75 Td (based ) Tj ET Q q 0 0 0 rg BT 279.00 162.75 Td (on ) Tj ET Q q 0 0 0 rg BT 291.96 162.75 Td (projections ) Tj ET Q q 0 0 0 rg BT 339.35 162.75 Td (and ) Tj ET Q q 0 0 0 rg BT 356.75 162.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 370.27 162.75 Td (price ) Tj ET Q q 0 0 0 rg BT 393.21 162.75 Td (expectations ) Tj ET Q q 0 0 0 rg BT 446.15 162.75 Td (that ) Tj ET Q q 0 0 0 rg BT 464.11 162.75 Td (existed ) Tj ET Q q 0 0 0 rg BT 495.40 162.75 Td (at ) Tj ET Q q 0 0 0 rg BT 505.57 162.75 Td (that ) Tj ET Q q 0 0 0 rg BT 523.53 162.75 Td (time. ) Tj ET Q q 0 0 0 rg BT 546.76 162.75 Td ( ) Tj ET Q q 0 0 0 rg BT 549.72 162.75 Td (Oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 76.34 150.75 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 123.74 150.75 Td (to ) Tj ET Q q 0 0 0 rg BT 133.82 150.75 Td (August ) Tj ET Q q 0 0 0 rg BT 165.67 150.75 Td (2018 ) Tj ET Q q 0 0 0 rg BT 188.63 150.75 Td (have ) Tj ET Q q 0 0 0 rg BT 210.47 150.75 Td (been ) Tj ET Q q 0 0 0 rg BT 232.31 150.75 Td (volatile, ) Tj ET Q q 0 0 0 rg BT 267.76 150.75 Td (and ) Tj ET Q q 0 0 0 rg BT 285.16 150.75 Td (if ) Tj ET Q q 0 0 0 rg BT 294.23 150.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 307.74 150.75 Td (and ) Tj ET Q q 0 0 0 rg BT 325.14 150.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 355.87 150.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 372.16 150.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 399.00 150.75 Td (decrease ) Tj ET Q q 0 0 0 rg BT 436.37 150.75 Td (for ) Tj ET Q q 0 0 0 rg BT 450.99 150.75 Td (an ) Tj ET Q q 0 0 0 rg BT 463.39 150.75 Td (extended ) Tj ET Q q 0 0 0 rg BT 502.44 150.75 Td (period ) Tj ET Q q 0 0 0 rg BT 530.95 150.75 Td (of ) Tj ET Q q 0 0 0 rg BT 542.24 150.75 Td (time, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.75 Td (these ) Tj ET Q q 0 0 0 rg BT 72.12 138.75 Td (metrics ) Tj ET Q q 0 0 0 rg BT 103.63 138.75 Td (could ) Tj ET Q q 0 0 0 rg BT 127.92 138.75 Td (deteriorate ) Tj ET Q q 0 0 0 rg BT 172.74 138.75 Td (further) Tj ET Q q 0 0 0 rg BT 199.55 138.75 Td (, ) Tj ET Q q 0 0 0 rg BT 204.12 138.75 Td (potentially ) Tj ET Q q 0 0 0 rg BT 248.97 138.75 Td (causing ) Tj ET Q q 0 0 0 rg BT 281.59 138.75 Td (us ) Tj ET Q q 0 0 0 rg BT 292.55 138.75 Td (to ) Tj ET Q q 0 0 0 rg BT 302.41 138.75 Td (not ) Tj ET Q q 0 0 0 rg BT 317.26 138.75 Td (be ) Tj ET Q q 0 0 0 rg BT 328.77 138.75 Td (in ) Tj ET Q q 0 0 0 rg BT 338.62 138.75 Td (compliance ) Tj ET Q q 0 0 0 rg BT 386.79 138.75 Td (with ) Tj ET Q q 0 0 0 rg BT 406.64 138.75 Td (our ) Tj ET Q q 0 0 0 rg BT 422.04 138.75 Td (senior ) Tj ET Q q 0 0 0 rg BT 448.56 138.75 Td (secured ) Tj ET Q q 0 0 0 rg BT 481.17 138.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 502.68 138.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 527.52 138.75 Td (facility�) Tj ET Q q 0 0 0 rg BT 558.62 138.75 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.75 Td (covenants. ) Tj ET Q q 0 0 0 rg BT 94.46 126.75 Td ( ) Tj ET Q q 0 0 0 rg BT 96.40 126.75 Td (As ) Tj ET Q q 0 0 0 rg BT 109.99 126.75 Td (such, ) Tj ET Q q 0 0 0 rg BT 133.30 126.75 Td (we ) Tj ET Q q 0 0 0 rg BT 147.44 126.75 Td (may ) Tj ET Q q 0 0 0 rg BT 167.14 126.75 Td (be ) Tj ET Q q 0 0 0 rg BT 179.05 126.75 Td (required ) Tj ET Q q 0 0 0 rg BT 214.85 126.75 Td (to ) Tj ET Q q 0 0 0 rg BT 225.11 126.75 Td (seek ) Tj ET Q q 0 0 0 rg BT 245.35 126.75 Td (modifications ) Tj ET Q q 0 0 0 rg BT 302.82 126.75 Td (of ) Tj ET Q q 0 0 0 rg BT 313.63 126.75 Td (these ) Tj ET Q q 0 0 0 rg BT 336.66 126.75 Td (covenants, ) Tj ET Q q 0 0 0 rg BT 381.62 126.75 Td (the ) Tj ET Q q 0 0 0 rg BT 396.32 126.75 Td (banks ) Tj ET Q q 0 0 0 rg BT 422.13 126.75 Td (could ) Tj ET Q q 0 0 0 rg BT 446.83 126.75 Td (force ) Tj ET Q q 0 0 0 rg BT 469.84 126.75 Td (a ) Tj ET Q q 0 0 0 rg BT 476.76 126.75 Td (reduction ) Tj ET Q q 0 0 0 rg BT 517.00 126.75 Td (in ) Tj ET Q q 0 0 0 rg BT 527.26 126.75 Td (our ) Tj ET Q q 0 0 0 rg BT 543.07 126.75 Td (bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.75 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 93.73 114.75 Td (base ) Tj ET Q q 0 0 0 rg BT 114.06 114.75 Td (and ) Tj ET Q q 0 0 0 rg BT 131.06 114.75 Td (repayment ) Tj ET Q q 0 0 0 rg BT 175.83 114.75 Td (of ) Tj ET Q q 0 0 0 rg BT 186.73 114.75 Td (amounts ) Tj ET Q q 0 0 0 rg BT 223.18 114.75 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 272.41 114.75 Td (under ) Tj ET Q q 0 0 0 rg BT 297.75 114.75 Td (our ) Tj ET Q q 0 0 0 rg BT 313.64 114.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 335.65 114.75 Td (credit ) Tj ET Q q 0 0 0 rg BT 360.98 114.75 Td (facility) Tj ET Q q 0 0 0 rg BT 388.65 114.75 Td (, ) Tj ET Q q 0 0 0 rg BT 393.71 114.75 Td (or ) Tj ET Q q 0 0 0 rg BT 404.61 114.75 Td (provide ) Tj ET Q q 0 0 0 rg BT 437.72 114.75 Td (a ) Tj ET Q q 0 0 0 rg BT 444.73 114.75 Td (waiver ) Tj ET Q q 0 0 0 rg BT 474.50 114.75 Td (at ) Tj ET Q q 0 0 0 rg BT 484.28 114.75 Td (a ) Tj ET Q q 0 0 0 rg BT 491.29 114.75 Td (significant ) Tj ET Q q 0 0 0 rg BT 536.06 114.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 554.74 114.75 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.75 Td (the ) Tj ET Q q 0 0 0 rg BT 64.87 102.75 Td (Company) Tj ET Q q 0 0 0 rg BT 103.11 102.75 Td (. ) Tj ET Q q 0 0 0 rg BT 108.76 102.75 Td ( ) Tj ET Q q 0 0 0 rg BT 111.22 102.75 Td (As ) Tj ET Q q 0 0 0 rg BT 125.48 102.75 Td (of ) Tj ET Q q 0 0 0 rg BT 136.97 102.75 Td (December ) Tj ET Q q 0 0 0 rg BT 181.21 102.75 Td (31, ) Tj ET Q q 0 0 0 rg BT 196.86 102.75 Td (2018, ) Tj ET Q q 0 0 0 rg BT 222.51 102.75 Td (we ) Tj ET Q q 0 0 0 rg BT 237.33 102.75 Td (had ) Tj ET Q q 0 0 0 rg BT 254.92 102.75 Td (no ) Tj ET Q q 0 0 0 rg BT 268.07 102.75 Td (bank ) Tj ET Q q 0 0 0 rg BT 290.66 102.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 311.03 102.75 Td (outstanding, ) Tj ET Q q 0 0 0 rg BT 363.35 102.75 Td (but ) Tj ET Q q 0 0 0 rg BT 379.28 102.75 Td (we ) Tj ET Q q 0 0 0 rg BT 394.10 102.75 Td (did ) Tj ET Q q 0 0 0 rg BT 410.03 102.75 Td (have ) Tj ET Q q 0 0 0 rg BT 432.06 102.75 Td ($62.0 ) Tj ET Q q 0 0 0 rg BT 457.71 102.75 Td (million ) Tj ET Q q 0 0 0 rg BT 489.76 102.75 Td (in ) Tj ET Q q 0 0 0 rg BT 500.69 102.75 Td (letters ) Tj ET Q q 0 0 0 rg BT 528.27 102.75 Td (of ) Tj ET Q q 0 0 0 rg BT 539.76 102.75 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.75 Td (outstanding. ) Tj ET Q q 0 0 0 rg BT 101.32 90.75 Td ( ) Tj ET Q q 0 0 0 rg BT 103.39 90.75 Td (Also, ) Tj ET Q q 0 0 0 rg BT 127.44 90.75 Td (we ) Tj ET Q q 0 0 0 rg BT 141.75 90.75 Td (may ) Tj ET Q q 0 0 0 rg BT 161.62 90.75 Td (seek ) Tj ET Q q 0 0 0 rg BT 182.05 90.75 Td (to ) Tj ET Q q 0 0 0 rg BT 192.48 90.75 Td (reduce ) Tj ET Q q 0 0 0 rg BT 221.78 90.75 Td (our ) Tj ET Q q 0 0 0 rg BT 237.77 90.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 257.64 90.75 Td (by) Tj ET Q q 0 0 0 rg BT 266.99 90.75 Td (, ) Tj ET Q q 0 0 0 rg BT 272.15 90.75 Td (among ) Tj ET Q q 0 0 0 rg BT 302.02 90.75 Td (other ) Tj ET Q q 0 0 0 rg BT 325.22 90.75 Td (things, ) Tj ET Q q 0 0 0 rg BT 354.82 90.75 Td (purchasing ) Tj ET Q q 0 0 0 rg BT 401.35 90.75 Td (our ) Tj ET Q q 0 0 0 rg BT 417.34 90.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 437.21 90.75 Td (in ) Tj ET Q q 0 0 0 rg BT 447.65 90.75 Td (the ) Tj ET Q q 0 0 0 rg BT 462.52 90.75 Td (open ) Tj ET Q q 0 0 0 rg BT 484.61 90.75 Td (market, ) Tj ET Q q 0 0 0 rg BT 517.53 90.75 Td (completing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 69.39 78.75 Td (tenders ) Tj ET Q q 0 0 0 rg BT 100.38 78.75 Td (for ) Tj ET Q q 0 0 0 rg BT 114.16 78.75 Td (our ) Tj ET Q q 0 0 0 rg BT 129.60 78.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 148.94 78.75 Td (or ) Tj ET Q q 0 0 0 rg BT 159.38 78.75 Td (public ) Tj ET Q q 0 0 0 rg BT 186.49 78.75 Td (or ) Tj ET Q q 0 0 0 rg BT 196.94 78.75 Td (privately ) Tj ET Q q 0 0 0 rg BT 234.60 78.75 Td (negotiated ) Tj ET Q q 0 0 0 rg BT 278.37 78.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 297.70 78.75 Td (exchanges, ) Tj ET Q q 0 0 0 rg BT 343.96 78.75 Td (issuing ) Tj ET Q q 0 0 0 rg BT 374.42 78.75 Td (equity ) Tj ET Q q 0 0 0 rg BT 401.53 78.75 Td (or ) Tj ET Q q 0 0 0 rg BT 411.98 78.75 Td (completing ) Tj ET Q q 0 0 0 rg BT 459.08 78.75 Td (asset ) Tj ET Q q 0 0 0 rg BT 480.64 78.75 Td (sales ) Tj ET Q q 0 0 0 rg BT 502.20 78.75 Td (and ) Tj ET Q q 0 0 0 rg BT 518.75 78.75 Td (other ) Tj ET Q q 0 0 0 rg BT 541.41 78.75 Td (cash-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.75 Td (generating ) Tj ET Q q 0 0 0 rg BT 94.25 66.75 Td (activities. ) Tj ET Q q 0 0 0 rg BT 135.40 66.75 Td ( ) Tj ET Q q 0 0 0 rg BT 137.76 66.75 Td (W) Tj ET Q q 0 0 0 rg BT 146.40 66.75 Td (e ) Tj ET Q q 0 0 0 rg BT 153.38 66.75 Td (cannot ) Tj ET Q q 0 0 0 rg BT 182.59 66.75 Td (assure ) Tj ET Q q 0 0 0 rg BT 210.13 66.75 Td (you, ) Tj ET Q q 0 0 0 rg BT 230.17 66.75 Td (however) Tj ET Q q 0 0 0 rg BT 264.20 66.75 Td (, ) Tj ET Q q 0 0 0 rg BT 269.25 66.75 Td (that ) Tj ET Q q 0 0 0 rg BT 286.79 66.75 Td (we ) Tj ET Q q 0 0 0 rg BT 301.00 66.75 Td (will ) Tj ET Q q 0 0 0 rg BT 319.10 66.75 Td (be ) Tj ET Q q 0 0 0 rg BT 331.09 66.75 Td (able ) Tj ET Q q 0 0 0 rg BT 350.29 66.75 Td (to ) Tj ET Q q 0 0 0 rg BT 360.62 66.75 Td (successfully ) Tj ET Q q 0 0 0 rg BT 412.04 66.75 Td (modify ) Tj ET Q q 0 0 0 rg BT 443.48 66.75 Td (these ) Tj ET Q q 0 0 0 rg BT 466.57 66.75 Td (covenants ) Tj ET Q q 0 0 0 rg BT 509.11 66.75 Td (or ) Tj ET Q q 0 0 0 rg BT 519.99 66.75 Td (reduce ) Tj ET Q q 0 0 0 rg BT 549.18 66.75 Td (our ) Tj ET Q endstream endobj 57 0 obj <> endobj 58 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 69.79 726.60 Td (in ) Tj ET Q q 0 0 0 rg BT 80.64 726.60 Td (the ) Tj ET Q q 0 0 0 rg BT 95.93 726.60 Td (future. ) Tj ET Q q 0 0 0 rg BT 125.38 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 128.46 726.60 Td (For ) Tj ET Q q 0 0 0 rg BT 145.42 726.60 Td (more ) Tj ET Q q 0 0 0 rg BT 169.04 726.60 Td (information ) Tj ET Q q 0 0 0 rg BT 219.33 726.60 Td (on ) Tj ET Q q 0 0 0 rg BT 232.40 726.60 Td (our ) Tj ET Q q 0 0 0 rg BT 248.81 726.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 276.32 726.60 Td (secured ) Tj ET Q q 0 0 0 rg BT 309.93 726.60 Td (bank ) Tj ET Q q 0 0 0 rg BT 332.44 726.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 358.28 726.60 Td (facility) Tj ET Q q 0 0 0 rg BT 385.95 726.60 Td (, ) Tj ET Q q 0 0 0 rg BT 391.52 726.60 Td (see ) Tj ET Q q 0 0 0 rg BT 407.37 726.60 Td (Item ) Tj ET Q q 0 0 0 rg BT 428.77 726.60 Td (7, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 439.34 726.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 493.59 726.60 Td (s ) Tj ET Q q 0 0 0 rg BT 500.55 726.60 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 547.52 726.60 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 84.87 714.60 Td (of ) Tj ET Q q 0 0 0 rg BT 94.13 714.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 134.49 714.60 Td (Condition ) Tj ET Q q 0 0 0 rg BT 175.98 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 192.46 714.60 Td (Results ) Tj ET Q q 0 0 0 rg BT 222.83 714.60 Td (of ) Tj ET Q q 0 0 0 rg BT 232.09 714.60 Td (Operations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 277.09 714.60 Td ( ) Tj ET Q q 0 0 0 rg BT 278.57 714.60 Td (� ) Tj ET Q q 0 0 0 rg BT 285.05 714.60 Td (Capital ) Tj ET Q q 0 0 0 rg BT 316.54 714.60 Td (Resour) Tj ET Q q 0 0 0 rg BT 344.50 714.60 Td (ces ) Tj ET Q q 0 0 0 rg BT 358.75 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 375.23 714.60 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 412.83 714.60 Td (� ) Tj ET Q q 0 0 0 rg BT 419.31 714.60 Td (Senior ) Tj ET Q q 0 0 0 rg BT 446.90 714.60 Td (Secur) Tj ET Q q 0 0 0 rg BT 469.30 714.60 Td (ed ) Tj ET Q q 0 0 0 rg BT 480.22 714.60 Td (Bank ) Tj ET Q q 0 0 0 rg BT 502.25 714.60 Td (Cr) Tj ET Q q 0 0 0 rg BT 512.44 714.60 Td (edit ) Tj ET Q q 0 0 0 rg BT 528.91 714.60 Td (Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 714.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 690.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.07 690.60 Td (bank ) Tj ET Q q 0 0 0 rg BT 106.53 690.60 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 150.20 690.60 Td (base ) Tj ET Q q 0 0 0 rg BT 169.99 690.60 Td (is ) Tj ET Q q 0 0 0 rg BT 178.68 690.60 Td (determined ) Tj ET Q q 0 0 0 rg BT 225.68 690.60 Td (semiannually) Tj ET Q q 0 0 0 rg BT 278.35 690.60 Td (, ) Tj ET Q q 0 0 0 rg BT 282.87 690.60 Td (and ) Tj ET Q q 0 0 0 rg BT 299.32 690.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 321.34 690.60 Td (requested ) Tj ET Q q 0 0 0 rg BT 361.67 690.60 Td (unscheduled ) Tj ET Q q 0 0 0 rg BT 413.68 690.60 Td (special ) Tj ET Q q 0 0 0 rg BT 443.46 690.60 Td (redeterminations, ) Tj ET Q q 0 0 0 rg BT 515.18 690.60 Td (in ) Tj ET Q q 0 0 0 rg BT 524.97 690.60 Td (each ) Tj ET Q q 0 0 0 rg BT 545.31 690.60 Td (case ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (at ) Tj ET Q q 0 0 0 rg BT 58.06 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 71.62 678.60 Td (banks�) Tj ET Q q 0 0 0 rg BT 97.54 678.60 Td ( ) Tj ET Q q 0 0 0 rg BT 98.88 678.60 Td (discretion, ) Tj ET Q q 0 0 0 rg BT 142.15 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 157.93 678.60 Td (the ) Tj ET Q q 0 0 0 rg BT 171.49 678.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 202.83 678.60 Td (is ) Tj ET Q q 0 0 0 rg BT 210.84 678.60 Td (established ) Tj ET Q q 0 0 0 rg BT 256.62 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 272.40 678.60 Td (based, ) Tj ET Q q 0 0 0 rg BT 299.01 678.60 Td (in ) Tj ET Q q 0 0 0 rg BT 308.13 678.60 Td (part, ) Tj ET Q q 0 0 0 rg BT 327.51 678.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 348.86 678.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 377.40 678.60 Td (external ) Tj ET Q q 0 0 0 rg BT 410.94 678.60 Td (factors, ) Tj ET Q q 0 0 0 rg BT 441.99 678.60 Td (such ) Tj ET Q q 0 0 0 rg BT 461.67 678.60 Td (as ) Tj ET Q q 0 0 0 rg BT 471.34 678.60 Td (commodity ) Tj ET Q q 0 0 0 rg BT 518.23 678.60 Td (prices.��) Tj ET Q q 0 0 0 rg BT 549.43 678.60 Td (W) Tj ET Q q 0 0 0 rg BT 558.06 678.60 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.60 Td (do ) Tj ET Q q 0 0 0 rg BT 61.65 666.60 Td (not ) Tj ET Q q 0 0 0 rg BT 76.59 666.60 Td (know) Tj ET Q q 0 0 0 rg BT 98.16 666.60 Td (, ) Tj ET Q q 0 0 0 rg BT 102.81 666.60 Td (nor ) Tj ET Q q 0 0 0 rg BT 118.30 666.60 Td (can ) Tj ET Q q 0 0 0 rg BT 134.33 666.60 Td (we ) Tj ET Q q 0 0 0 rg BT 148.15 666.60 Td (control, ) Tj ET Q q 0 0 0 rg BT 181.13 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 195.50 666.60 Td (results ) Tj ET Q q 0 0 0 rg BT 223.76 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 234.25 666.60 Td (such ) Tj ET Q q 0 0 0 rg BT 254.73 666.60 Td (redeterminations ) Tj ET Q q 0 0 0 rg BT 324.08 666.60 Td (or ) Tj ET Q q 0 0 0 rg BT 334.57 666.60 Td (the ) Tj ET Q q 0 0 0 rg BT 348.94 666.60 Td (ef) Tj ET Q q 0 0 0 rg BT 356.53 666.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 373.67 666.60 Td (of ) Tj ET Q q 0 0 0 rg BT 384.15 666.60 Td (then-current ) Tj ET Q q 0 0 0 rg BT 435.17 666.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 447.88 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 464.47 666.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 494.39 666.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 509.88 666.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 535.91 666.60 Td (on ) Tj ET Q q 0 0 0 rg BT 548.06 666.60 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (such ) Tj ET Q q 0 0 0 rg BT 70.97 654.60 Td (redetermination. ) Tj ET Q q 0 0 0 rg BT 139.92 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 142.36 654.60 Td (A) Tj ET Q q 0 0 0 rg BT 149.03 654.60 Td ( ) Tj ET Q q 0 0 0 rg BT 152.17 654.60 Td (future ) Tj ET Q q 0 0 0 rg BT 179.19 654.60 Td (redetermination ) Tj ET Q q 0 0 0 rg BT 245.63 654.60 Td (lowering ) Tj ET Q q 0 0 0 rg BT 284.32 654.60 Td (our ) Tj ET Q q 0 0 0 rg BT 300.79 654.60 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 345.59 654.60 Td (base ) Tj ET Q q 0 0 0 rg BT 366.50 654.60 Td (could ) Tj ET Q q 0 0 0 rg BT 391.85 654.60 Td (limit ) Tj ET Q q 0 0 0 rg BT 413.89 654.60 Td (availability ) Tj ET Q q 0 0 0 rg BT 462.01 654.60 Td (under ) Tj ET Q q 0 0 0 rg BT 487.92 654.60 Td (our ) Tj ET Q q 0 0 0 rg BT 504.39 654.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 531.97 654.60 Td (secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (bank ) Tj ET Q q 0 0 0 rg BT 70.73 642.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 95.28 642.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 125.38 642.60 Td (or ) Tj ET Q q 0 0 0 rg BT 135.50 642.60 Td (require ) Tj ET Q q 0 0 0 rg BT 165.60 642.60 Td (us ) Tj ET Q q 0 0 0 rg BT 176.28 642.60 Td (to ) Tj ET Q q 0 0 0 rg BT 185.85 642.60 Td (seek ) Tj ET Q q 0 0 0 rg BT 205.40 642.60 Td (dif) Tj ET Q q 0 0 0 rg BT 216.33 642.60 Td (ferent ) Tj ET Q q 0 0 0 rg BT 241.43 642.60 Td (forms ) Tj ET Q q 0 0 0 rg BT 266.55 642.60 Td (of ) Tj ET Q q 0 0 0 rg BT 276.67 642.60 Td (financing ) Tj ET Q q 0 0 0 rg BT 316.22 642.60 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 374.37 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 376.16 642.60 Td (If ) Tj ET Q q 0 0 0 rg BT 384.60 642.60 Td (the ) Tj ET Q q 0 0 0 rg BT 398.61 642.60 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 447.06 642.60 Td (debt ) Tj ET Q q 0 0 0 rg BT 466.06 642.60 Td (under ) Tj ET Q q 0 0 0 rg BT 490.62 642.60 Td (our ) Tj ET Q q 0 0 0 rg BT 505.74 642.60 Td (senior ) Tj ET Q q 0 0 0 rg BT 531.96 642.60 Td (secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (bank ) Tj ET Q q 0 0 0 rg BT 71.57 630.60 Td (credit ) Tj ET Q q 0 0 0 rg BT 96.97 630.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 127.92 630.60 Td (were ) Tj ET Q q 0 0 0 rg BT 149.98 630.60 Td (to ) Tj ET Q q 0 0 0 rg BT 160.40 630.60 Td (ever ) Tj ET Q q 0 0 0 rg BT 180.24 630.60 Td (exceed ) Tj ET Q q 0 0 0 rg BT 210.62 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 225.47 630.60 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 269.77 630.60 Td (base, ) Tj ET Q q 0 0 0 rg BT 292.67 630.60 Td (we ) Tj ET Q q 0 0 0 rg BT 306.96 630.60 Td (would ) Tj ET Q q 0 0 0 rg BT 334.60 630.60 Td (be ) Tj ET Q q 0 0 0 rg BT 346.67 630.60 Td (required ) Tj ET Q q 0 0 0 rg BT 382.62 630.60 Td (to ) Tj ET Q q 0 0 0 rg BT 393.03 630.60 Td (repay ) Tj ET Q q 0 0 0 rg BT 417.87 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 432.72 630.60 Td (excess ) Tj ET Q q 0 0 0 rg BT 461.45 630.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 494.08 630.60 Td (over ) Tj ET Q q 0 0 0 rg BT 514.48 630.60 Td (a ) Tj ET Q q 0 0 0 rg BT 521.55 630.60 Td (period ) Tj ET Q q 0 0 0 rg BT 549.73 630.60 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (to ) Tj ET Q q 0 0 0 rg BT 59.78 618.60 Td (exceed ) Tj ET Q q 0 0 0 rg BT 90.03 618.60 Td (six ) Tj ET Q q 0 0 0 rg BT 104.20 618.60 Td (months.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (Certain ) Tj ET Q q 0 0 0 rg BT 84.77 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 95.60 594.60 Td (our) Tj ET Q q 0 0 0 rg BT 110.42 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 112.92 594.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 160.42 594.60 Td (may ) Tj ET Q q 0 0 0 rg BT 181.25 594.60 Td (be ) Tj ET Q q 0 0 0 rg BT 193.75 594.60 Td (limited ) Tj ET Q q 0 0 0 rg BT 226.24 594.60 Td (during ) Tj ET Q q 0 0 0 rg BT 257.64 594.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 290.13 594.60 Td (periods ) Tj ET Q q 0 0 0 rg BT 324.30 594.60 Td (due ) Tj ET Q q 0 0 0 rg BT 342.36 594.60 Td (to ) Tj ET Q q 0 0 0 rg BT 353.19 594.60 Td (sever) Tj ET Q q 0 0 0 rg BT 375.22 594.60 Td (e ) Tj ET Q q 0 0 0 rg BT 382.16 594.60 Td (weather) Tj ET Q q 0 0 0 rg BT 416.40 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 418.90 594.60 Td (conditions ) Tj ET Q q 0 0 0 rg BT 465.31 594.60 Td (and ) Tj ET Q q 0 0 0 rg BT 483.93 594.60 Td (other) Tj ET Q q 0 0 0 rg BT 506.52 594.60 Td ( ) Tj ET Q q 0 0 0 rg BT 509.02 594.60 Td (r) Tj ET Q q 0 0 0 rg BT 513.27 594.60 Td (egulations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 570.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 86.16 570.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 130.93 570.60 Td (in ) Tj ET Q q 0 0 0 rg BT 141.81 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 157.14 570.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 178.58 570.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 204.47 570.60 Td (region ) Tj ET Q q 0 0 0 rg BT 233.12 570.60 Td (may ) Tj ET Q q 0 0 0 rg BT 253.45 570.60 Td (be ) Tj ET Q q 0 0 0 rg BT 266.00 570.60 Td (subjected ) Tj ET Q q 0 0 0 rg BT 306.87 570.60 Td (to ) Tj ET Q q 0 0 0 rg BT 317.76 570.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 351.40 570.60 Td (weather ) Tj ET Q q 0 0 0 rg BT 386.16 570.60 Td (conditions ) Tj ET Q q 0 0 0 rg BT 430.93 570.60 Td (such ) Tj ET Q q 0 0 0 rg BT 452.37 570.60 Td (as ) Tj ET Q q 0 0 0 rg BT 463.81 570.60 Td (hurricanes, ) Tj ET Q q 0 0 0 rg BT 511.07 570.60 Td (flooding ) Tj ET Q q 0 0 0 rg BT 548.06 570.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (tropical ) Tj ET Q q 0 0 0 rg BT 82.65 558.60 Td (storms ) Tj ET Q q 0 0 0 rg BT 111.93 558.60 Td (in ) Tj ET Q q 0 0 0 rg BT 122.32 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 139.37 558.60 Td (around ) Tj ET Q q 0 0 0 rg BT 169.75 558.60 Td (the ) Tj ET Q q 0 0 0 rg BT 184.57 558.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 205.51 558.60 Td (of ) Tj ET Q q 0 0 0 rg BT 216.45 558.60 Td (Mexico ) Tj ET Q q 0 0 0 rg BT 249.61 558.60 Td (that ) Tj ET Q q 0 0 0 rg BT 267.21 558.60 Td (can ) Tj ET Q q 0 0 0 rg BT 283.70 558.60 Td (damage ) Tj ET Q q 0 0 0 rg BT 317.41 558.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 330.57 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 347.62 558.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 377.99 558.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 393.93 558.60 Td (facilities ) Tj ET Q q 0 0 0 rg BT 430.97 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 448.02 558.60 Td (delivery ) Tj ET Q q 0 0 0 rg BT 483.39 558.60 Td (systems ) Tj ET Q q 0 0 0 rg BT 517.67 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 534.72 558.60 Td (disrupt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 96.75 546.60 Td (which ) Tj ET Q q 0 0 0 rg BT 124.29 546.60 Td (can ) Tj ET Q q 0 0 0 rg BT 141.26 546.60 Td (also ) Tj ET Q q 0 0 0 rg BT 160.47 546.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 196.32 546.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 219.42 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 236.95 546.60 Td (have ) Tj ET Q q 0 0 0 rg BT 258.93 546.60 Td (a ) Tj ET Q q 0 0 0 rg BT 266.46 546.60 Td (negative ) Tj ET Q q 0 0 0 rg BT 303.43 546.60 Td (ef) Tj ET Q q 0 0 0 rg BT 311.02 546.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 329.10 546.60 Td (on ) Tj ET Q q 0 0 0 rg BT 342.20 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 358.63 546.60 Td (results ) Tj ET Q q 0 0 0 rg BT 387.83 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 399.26 546.60 Td (operations. ) Tj ET Q q 0 0 0 rg BT 446.51 546.60 Td ( ) Tj ET Q q 0 0 0 rg BT 449.61 546.60 Td (Certain ) Tj ET Q q 0 0 0 rg BT 482.14 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 493.57 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 509.99 546.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 554.75 546.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (North ) Tj ET Q q 0 0 0 rg BT 74.95 534.60 Td (Dakota, ) Tj ET Q q 0 0 0 rg BT 108.44 534.60 Td (Montana ) Tj ET Q q 0 0 0 rg BT 146.11 534.60 Td (and ) Tj ET Q q 0 0 0 rg BT 162.51 534.60 Td (W) Tj ET Q q 0 0 0 rg BT 171.35 534.60 Td (yoming, ) Tj ET Q q 0 0 0 rg BT 206.52 534.60 Td (including ) Tj ET Q q 0 0 0 rg BT 246.42 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 260.75 534.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 312.30 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 322.75 534.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 336.64 533.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.89 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 342.01 534.60 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 382.73 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 397.07 534.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 428.63 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 439.08 534.60 Td (new ) Tj ET Q q 0 0 0 rg BT 457.85 534.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 481.08 534.60 Td (and ) Tj ET Q q 0 0 0 rg BT 497.64 534.60 Td (production ) Tj ET Q q 0 0 0 rg BT 543.08 534.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (existing ) Tj ET Q q 0 0 0 rg BT 82.79 522.60 Td (wells, ) Tj ET Q q 0 0 0 rg BT 108.03 522.60 Td (are ) Tj ET Q q 0 0 0 rg BT 121.86 522.60 Td (conducted ) Tj ET Q q 0 0 0 rg BT 164.58 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 173.98 522.60 Td (areas ) Tj ET Q q 0 0 0 rg BT 196.15 522.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 226.10 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 235.50 522.60 Td (extreme ) Tj ET Q q 0 0 0 rg BT 269.33 522.60 Td (weather ) Tj ET Q q 0 0 0 rg BT 302.60 522.60 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 348.39 522.60 Td (including ) Tj ET Q q 0 0 0 rg BT 387.79 522.60 Td (severe ) Tj ET Q q 0 0 0 rg BT 414.95 522.60 Td (cold, ) Tj ET Q q 0 0 0 rg BT 436.30 522.60 Td (snow ) Tj ET Q q 0 0 0 rg BT 459.04 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 475.10 522.60 Td (rain, ) Tj ET Q q 0 0 0 rg BT 494.77 522.60 Td (which ) Tj ET Q q 0 0 0 rg BT 520.84 522.60 Td (conditions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (may ) Tj ET Q q 0 0 0 rg BT 68.90 510.60 Td (cause ) Tj ET Q q 0 0 0 rg BT 93.29 510.60 Td (such ) Tj ET Q q 0 0 0 rg BT 113.81 510.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 157.65 510.60 Td (to ) Tj ET Q q 0 0 0 rg BT 167.61 510.60 Td (be ) Tj ET Q q 0 0 0 rg BT 179.23 510.60 Td (hindered ) Tj ET Q q 0 0 0 rg BT 216.40 510.60 Td (or ) Tj ET Q q 0 0 0 rg BT 226.91 510.60 Td (delayed, ) Tj ET Q q 0 0 0 rg BT 262.69 510.60 Td (or ) Tj ET Q q 0 0 0 rg BT 273.21 510.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 314.27 510.60 Td (require ) Tj ET Q q 0 0 0 rg BT 344.77 510.60 Td (that ) Tj ET Q q 0 0 0 rg BT 361.95 510.60 Td (they ) Tj ET Q q 0 0 0 rg BT 381.35 510.60 Td (be ) Tj ET Q q 0 0 0 rg BT 392.97 510.60 Td (conducted ) Tj ET Q q 0 0 0 rg BT 436.25 510.60 Td (only ) Tj ET Q q 0 0 0 rg BT 456.21 510.60 Td (during ) Tj ET Q q 0 0 0 rg BT 484.50 510.60 Td (non-winter ) Tj ET Q q 0 0 0 rg BT 530.56 510.60 Td (months, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.87 498.60 Td (depending ) Tj ET Q q 0 0 0 rg BT 111.45 498.60 Td (on ) Tj ET Q q 0 0 0 rg BT 124.38 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 139.53 498.60 Td (severity ) Tj ET Q q 0 0 0 rg BT 174.11 498.60 Td (of ) Tj ET Q q 0 0 0 rg BT 185.37 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 200.52 498.60 Td (weather) Tj ET Q q 0 0 0 rg BT 231.77 498.60 Td (, ) Tj ET Q q 0 0 0 rg BT 237.20 498.60 Td (could ) Tj ET Q q 0 0 0 rg BT 262.34 498.60 Td (have ) Tj ET Q q 0 0 0 rg BT 284.15 498.60 Td (a ) Tj ET Q q 0 0 0 rg BT 291.52 498.60 Td (negative ) Tj ET Q q 0 0 0 rg BT 328.32 498.60 Td (ef) Tj ET Q q 0 0 0 rg BT 335.91 498.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 353.82 498.60 Td (on ) Tj ET Q q 0 0 0 rg BT 366.75 498.60 Td (our ) Tj ET Q q 0 0 0 rg BT 383.01 498.60 Td (results ) Tj ET Q q 0 0 0 rg BT 412.05 498.60 Td (of ) Tj ET Q q 0 0 0 rg BT 423.31 498.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 467.89 498.60 Td (in ) Tj ET Q q 0 0 0 rg BT 478.60 498.60 Td (these ) Tj ET Q q 0 0 0 rg BT 502.08 498.60 Td (areas. ) Tj ET Q q 0 0 0 rg BT 528.04 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 530.97 498.60 Td (Further) Tj ET Q q 0 0 0 rg BT 560.01 498.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 79.21 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 90.05 486.60 Td (our ) Tj ET Q q 0 0 0 rg BT 105.89 486.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 150.05 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 160.34 486.60 Td (these ) Tj ET Q q 0 0 0 rg BT 183.40 486.60 Td (areas ) Tj ET Q q 0 0 0 rg BT 206.44 486.60 Td (are ) Tj ET Q q 0 0 0 rg BT 221.16 486.60 Td (confined ) Tj ET Q q 0 0 0 rg BT 258.65 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 268.94 486.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 298.65 486.60 Td (time ) Tj ET Q q 0 0 0 rg BT 318.93 486.60 Td (periods ) Tj ET Q q 0 0 0 rg BT 350.88 486.60 Td (due ) Tj ET Q q 0 0 0 rg BT 367.83 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 378.11 486.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 438.38 486.60 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 487.82 486.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 518.09 486.60 Td (restrictions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (on ) Tj ET Q q 0 0 0 rg BT 62.56 474.60 Td (when ) Tj ET Q q 0 0 0 rg BT 87.28 474.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 119.79 474.60 Td (can ) Tj ET Q q 0 0 0 rg BT 136.73 474.60 Td (take ) Tj ET Q q 0 0 0 rg BT 156.44 474.60 Td (place ) Tj ET Q q 0 0 0 rg BT 180.60 474.60 Td (on ) Tj ET Q q 0 0 0 rg BT 193.66 474.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 224.48 474.60 Td (lands, ) Tj ET Q q 0 0 0 rg BT 251.15 474.60 Td (and ) Tj ET Q q 0 0 0 rg BT 268.65 474.60 Td (lease ) Tj ET Q q 0 0 0 rg BT 291.69 474.60 Td (stipulations ) Tj ET Q q 0 0 0 rg BT 340.87 474.60 Td (designed ) Tj ET Q q 0 0 0 rg BT 379.48 474.60 Td (to ) Tj ET Q q 0 0 0 rg BT 390.32 474.60 Td (protect ) Tj ET Q q 0 0 0 rg BT 421.14 474.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 451.40 474.60 Td (wildlife, ) Tj ET Q q 0 0 0 rg BT 488.07 474.60 Td (which ) Tj ET Q q 0 0 0 rg BT 515.57 474.60 Td (regulations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 96.24 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 112.99 462.60 Td (limitations ) Tj ET Q q 0 0 0 rg BT 158.08 462.60 Td (could ) Tj ET Q q 0 0 0 rg BT 182.61 462.60 Td (slow ) Tj ET Q q 0 0 0 rg BT 203.81 462.60 Td (down ) Tj ET Q q 0 0 0 rg BT 228.35 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 243.99 462.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 290.45 462.60 Td (cause ) Tj ET Q q 0 0 0 rg BT 314.97 462.60 Td (delays, ) Tj ET Q q 0 0 0 rg BT 345.33 462.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 380.40 462.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 402.71 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 419.46 462.60 Td (have ) Tj ET Q q 0 0 0 rg BT 440.64 462.60 Td (a ) Tj ET Q q 0 0 0 rg BT 447.39 462.60 Td (negative ) Tj ET Q q 0 0 0 rg BT 483.58 462.60 Td (ef) Tj ET Q q 0 0 0 rg BT 491.16 462.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 508.46 462.60 Td (on ) Tj ET Q q 0 0 0 rg BT 520.77 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 536.41 462.60 Td (results ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 450.60 Td (operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (Oil ) Tj ET Q q 0 0 0 rg BT 65.33 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 83.96 426.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 118.13 426.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 134.52 426.60 Td (development ) Tj ET Q q 0 0 0 rg BT 191.46 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 210.08 426.60 Td (pr) Tj ET Q q 0 0 0 rg BT 219.90 426.60 Td (oducing ) Tj ET Q q 0 0 0 rg BT 256.30 426.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 303.80 426.60 Td (involve ) Tj ET Q q 0 0 0 rg BT 336.86 426.60 Td (various ) Tj ET Q q 0 0 0 rg BT 371.03 426.60 Td (risks.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 84.94 402.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 128.48 402.60 Td (are ) Tj ET Q q 0 0 0 rg BT 142.57 402.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 172.78 402.60 Td (to ) Tj ET Q q 0 0 0 rg BT 182.45 402.60 Td (all ) Tj ET Q q 0 0 0 rg BT 194.33 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 204.55 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 218.65 402.60 Td (risks ) Tj ET Q q 0 0 0 rg BT 239.43 402.60 Td (normally ) Tj ET Q q 0 0 0 rg BT 277.42 402.60 Td (incident ) Tj ET Q q 0 0 0 rg BT 311.52 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 327.84 402.60 Td (inherent ) Tj ET Q q 0 0 0 rg BT 362.49 402.60 Td (to ) Tj ET Q q 0 0 0 rg BT 372.15 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 386.26 402.60 Td (operation ) Tj ET Q q 0 0 0 rg BT 425.91 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 442.23 402.60 Td (development ) Tj ET Q q 0 0 0 rg BT 495.77 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 505.98 402.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 518.43 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 534.75 402.60 Td (natural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 64.30 390.60 Td (properties ) Tj ET Q q 0 0 0 rg BT 105.75 390.60 Td (and ) Tj ET Q q 0 0 0 rg BT 121.65 390.60 Td (the ) Tj ET Q q 0 0 0 rg BT 135.34 390.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 166.25 390.60 Td (of ) Tj ET Q q 0 0 0 rg BT 176.04 390.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 188.06 390.60 Td (and ) Tj ET Q q 0 0 0 rg BT 203.97 390.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 233.20 390.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 248.00 390.60 Td (wells, ) Tj ET Q q 0 0 0 rg BT 273.07 390.60 Td (including, ) Tj ET Q q 0 0 0 rg BT 314.81 390.60 Td (without ) Tj ET Q q 0 0 0 rg BT 346.83 390.60 Td (limitation, ) Tj ET Q q 0 0 0 rg BT 389.69 390.60 Td (pipe ) Tj ET Q q 0 0 0 rg BT 408.37 390.60 Td (failure; ) Tj ET Q q 0 0 0 rg BT 438.71 390.60 Td (fires; ) Tj ET Q q 0 0 0 rg BT 460.72 390.60 Td (formations ) Tj ET Q q 0 0 0 rg BT 505.51 390.60 Td (with ) Tj ET Q q 0 0 0 rg BT 524.76 390.60 Td (abnormal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (pressures; ) Tj ET Q q 0 0 0 rg BT 92.47 378.60 Td (uncontrollable ) Tj ET Q q 0 0 0 rg BT 153.22 378.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 178.42 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 189.73 378.60 Td (oil, ) Tj ET Q q 0 0 0 rg BT 205.77 378.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 236.52 378.60 Td (gas, ) Tj ET Q q 0 0 0 rg BT 255.33 378.60 Td (brine ) Tj ET Q q 0 0 0 rg BT 278.87 378.60 Td (or ) Tj ET Q q 0 0 0 rg BT 290.18 378.60 Td (well ) Tj ET Q q 0 0 0 rg BT 310.38 378.60 Td (fluids; ) Tj ET Q q 0 0 0 rg BT 338.92 378.60 Td (release ) Tj ET Q q 0 0 0 rg BT 369.66 378.60 Td (of ) Tj ET Q q 0 0 0 rg BT 380.97 378.60 Td (contaminants ) Tj ET Q q 0 0 0 rg BT 437.27 378.60 Td (into ) Tj ET Q q 0 0 0 rg BT 455.81 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 471.01 378.60 Td (environment ) Tj ET Q q 0 0 0 rg BT 524.54 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 541.96 378.60 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 110.83 366.60 Td (hazards ) Tj ET Q q 0 0 0 rg BT 144.93 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 162.94 366.60 Td (risks ) Tj ET Q q 0 0 0 rg BT 185.39 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 203.40 366.60 Td (well ) Tj ET Q q 0 0 0 rg BT 224.18 366.60 Td (blowouts, ) Tj ET Q q 0 0 0 rg BT 266.92 366.60 Td (cratering ) Tj ET Q q 0 0 0 rg BT 306.02 366.60 Td (or ) Tj ET Q q 0 0 0 rg BT 317.92 366.60 Td (explosions. ) Tj ET Q q 0 0 0 rg BT 366.76 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 370.33 366.60 Td (In ) Tj ET Q q 0 0 0 rg BT 382.22 366.60 Td (addition, ) Tj ET Q q 0 0 0 rg BT 421.06 366.60 Td (our ) Tj ET Q q 0 0 0 rg BT 437.96 366.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 483.18 366.60 Td (are ) Tj ET Q q 0 0 0 rg BT 498.96 366.60 Td (sometimes ) Tj ET Q q 0 0 0 rg BT 545.30 366.60 Td (near ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (populated ) Tj ET Q q 0 0 0 rg BT 91.16 354.60 Td (commercial ) Tj ET Q q 0 0 0 rg BT 140.57 354.60 Td (or ) Tj ET Q q 0 0 0 rg BT 151.13 354.60 Td (residential ) Tj ET Q q 0 0 0 rg BT 195.00 354.60 Td (areas, ) Tj ET Q q 0 0 0 rg BT 220.26 354.60 Td (which ) Tj ET Q q 0 0 0 rg BT 246.92 354.60 Td (add ) Tj ET Q q 0 0 0 rg BT 263.58 354.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 305.79 354.60 Td (risks. ) Tj ET Q q 0 0 0 rg BT 329.40 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 331.46 354.60 Td (The ) Tj ET Q q 0 0 0 rg BT 349.23 354.60 Td (nature ) Tj ET Q q 0 0 0 rg BT 376.44 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 386.99 354.60 Td (these ) Tj ET Q q 0 0 0 rg BT 409.76 354.60 Td (risks ) Tj ET Q q 0 0 0 rg BT 430.87 354.60 Td (is ) Tj ET Q q 0 0 0 rg BT 439.76 354.60 Td (such ) Tj ET Q q 0 0 0 rg BT 460.32 354.60 Td (that ) Tj ET Q q 0 0 0 rg BT 477.53 354.60 Td (some ) Tj ET Q q 0 0 0 rg BT 500.86 354.60 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 540.30 354.60 Td (could ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (exceed ) Tj ET Q q 0 0 0 rg BT 81.18 342.60 Td (our ) Tj ET Q q 0 0 0 rg BT 98.44 342.60 Td (insurance ) Tj ET Q q 0 0 0 rg BT 140.68 342.60 Td (policy ) Tj ET Q q 0 0 0 rg BT 169.60 342.60 Td (limits ) Tj ET Q q 0 0 0 rg BT 196.31 342.60 Td (or ) Tj ET Q q 0 0 0 rg BT 208.57 342.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 251.38 342.60 Td (be ) Tj ET Q q 0 0 0 rg BT 264.74 342.60 Td (excluded ) Tj ET Q q 0 0 0 rg BT 304.76 342.60 Td (from, ) Tj ET Q q 0 0 0 rg BT 330.63 342.60 Td (or ) Tj ET Q q 0 0 0 rg BT 342.89 342.60 Td (limited ) Tj ET Q q 0 0 0 rg BT 375.14 342.60 Td (by) Tj ET Q q 0 0 0 rg BT 384.49 342.60 Td (, ) Tj ET Q q 0 0 0 rg BT 390.92 342.60 Td (our ) Tj ET Q q 0 0 0 rg BT 408.18 342.60 Td (insurance ) Tj ET Q q 0 0 0 rg BT 450.42 342.60 Td (coverage, ) Tj ET Q q 0 0 0 rg BT 492.93 342.60 Td (as ) Tj ET Q q 0 0 0 rg BT 505.19 342.60 Td (in ) Tj ET Q q 0 0 0 rg BT 516.89 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 533.04 342.60 Td (case ) Tj ET Q q 0 0 0 rg BT 554.17 342.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 109.76 330.60 Td (fines ) Tj ET Q q 0 0 0 rg BT 131.70 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 148.64 330.60 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 189.18 330.60 Td (for ) Tj ET Q q 0 0 0 rg BT 203.34 330.60 Td (example, ) Tj ET Q q 0 0 0 rg BT 242.21 330.60 Td (which ) Tj ET Q q 0 0 0 rg BT 269.15 330.60 Td (are ) Tj ET Q q 0 0 0 rg BT 283.86 330.60 Td (excluded ) Tj ET Q q 0 0 0 rg BT 322.45 330.60 Td (from ) Tj ET Q q 0 0 0 rg BT 344.39 330.60 Td (coverage ) Tj ET Q q 0 0 0 rg BT 382.97 330.60 Td (as ) Tj ET Q q 0 0 0 rg BT 393.80 330.60 Td (they ) Tj ET Q q 0 0 0 rg BT 413.52 330.60 Td (cannot ) Tj ET Q q 0 0 0 rg BT 442.67 330.60 Td (be ) Tj ET Q q 0 0 0 rg BT 454.61 330.60 Td (insured.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 306.60 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 306.60 Td (e ) Tj ET Q q 0 0 0 rg BT 83.29 306.60 Td (could ) Tj ET Q q 0 0 0 rg BT 108.22 306.60 Td (incur ) Tj ET Q q 0 0 0 rg BT 131.47 306.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 176.40 306.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 199.11 306.60 Td (related ) Tj ET Q q 0 0 0 rg BT 229.02 306.60 Td (to ) Tj ET Q q 0 0 0 rg BT 239.51 306.60 Td (these ) Tj ET Q q 0 0 0 rg BT 262.77 306.60 Td (risks ) Tj ET Q q 0 0 0 rg BT 284.37 306.60 Td (that ) Tj ET Q q 0 0 0 rg BT 302.08 306.60 Td (could ) Tj ET Q q 0 0 0 rg BT 327.01 306.60 Td (have ) Tj ET Q q 0 0 0 rg BT 348.60 306.60 Td (a ) Tj ET Q q 0 0 0 rg BT 355.75 306.60 Td (material ) Tj ET Q q 0 0 0 rg BT 391.22 306.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 424.47 306.60 Td (ef) Tj ET Q q 0 0 0 rg BT 432.05 306.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 449.75 306.60 Td (on ) Tj ET Q q 0 0 0 rg BT 462.46 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 478.50 306.60 Td (results ) Tj ET Q q 0 0 0 rg BT 507.32 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 518.36 306.60 Td (operations, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.60 294.60 Td (condition ) Tj ET Q q 0 0 0 rg BT 126.50 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 143.05 294.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 162.94 294.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 187.29 294.60 Td (or ) Tj ET Q q 0 0 0 rg BT 197.74 294.60 Td (could ) Tj ET Q q 0 0 0 rg BT 222.07 294.60 Td (have ) Tj ET Q q 0 0 0 rg BT 243.07 294.60 Td (an ) Tj ET Q q 0 0 0 rg BT 254.63 294.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 287.29 294.60 Td (ef) Tj ET Q q 0 0 0 rg BT 294.88 294.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 311.98 294.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 334.10 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 348.44 294.60 Td (profitability ) Tj ET Q q 0 0 0 rg BT 398.33 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 408.78 294.60 Td (our ) Tj ET Q q 0 0 0 rg BT 424.23 294.60 Td (operations.� ) Tj ET Q q 0 0 0 rg BT 472.54 294.60 Td (Additionally) Tj ET Q q 0 0 0 rg BT 522.44 294.60 Td (, ) Tj ET Q q 0 0 0 rg BT 527.06 294.60 Td (a ) Tj ET Q q 0 0 0 rg BT 533.62 294.60 Td (portion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 60.49 282.60 Td (our ) Tj ET Q q 0 0 0 rg BT 76.47 282.60 Td (production ) Tj ET Q q 0 0 0 rg BT 122.45 282.60 Td (activities ) Tj ET Q q 0 0 0 rg BT 161.21 282.60 Td (involves ) Tj ET Q q 0 0 0 rg BT 197.75 282.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 211.64 281.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.89 282.60 Td ( ) Tj ET Q q 0 0 0 rg BT 217.54 282.60 Td (injections ) Tj ET Q q 0 0 0 rg BT 259.08 282.60 Td (into ) Tj ET Q q 0 0 0 rg BT 277.29 282.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 302.16 282.60 Td (with ) Tj ET Q q 0 0 0 rg BT 322.60 282.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 346.36 282.60 Td (plugged ) Tj ET Q q 0 0 0 rg BT 381.23 282.60 Td (and ) Tj ET Q q 0 0 0 rg BT 398.33 282.60 Td (abandoned ) Tj ET Q q 0 0 0 rg BT 444.30 282.60 Td (by ) Tj ET Q q 0 0 0 rg BT 456.95 282.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 479.05 282.60 Td (operators.��However) Tj ET Q q 0 0 0 rg BT 560.00 282.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (it ) Tj ET Q q 0 0 0 rg BT 57.51 270.60 Td (is ) Tj ET Q q 0 0 0 rg BT 66.64 270.60 Td (often ) Tj ET Q q 0 0 0 rg BT 89.65 270.60 Td (dif) Tj ET Q q 0 0 0 rg BT 100.57 270.60 Td (ficult ) Tj ET Q q 0 0 0 rg BT 124.13 270.60 Td (\(or ) Tj ET Q q 0 0 0 rg BT 138.25 270.60 Td (impracticable\) ) Tj ET Q q 0 0 0 rg BT 198.45 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 208.69 270.60 Td (determine ) Tj ET Q q 0 0 0 rg BT 251.13 270.60 Td (whether ) Tj ET Q q 0 0 0 rg BT 285.79 270.60 Td (a ) Tj ET Q q 0 0 0 rg BT 292.69 270.60 Td (well ) Tj ET Q q 0 0 0 rg BT 312.36 270.60 Td (has ) Tj ET Q q 0 0 0 rg BT 328.15 270.60 Td (been ) Tj ET Q q 0 0 0 rg BT 349.48 270.60 Td (properly ) Tj ET Q q 0 0 0 rg BT 385.82 270.60 Td (plugged ) Tj ET Q q 0 0 0 rg BT 420.49 270.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 442.39 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 452.63 270.60 Td (commencing ) Tj ET Q q 0 0 0 rg BT 506.73 270.60 Td (injections ) Tj ET Q q 0 0 0 rg BT 548.07 270.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (pressuring ) Tj ET Q q 0 0 0 rg BT 95.54 258.60 Td (the ) Tj ET Q q 0 0 0 rg BT 112.14 258.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 127.08 258.60 Td (reservoirs. ) Tj ET Q q 0 0 0 rg BT 173.40 258.60 Td ( ) Tj ET Q q 0 0 0 rg BT 177.46 258.60 Td (W) Tj ET Q q 0 0 0 rg BT 186.10 258.60 Td (e ) Tj ET Q q 0 0 0 rg BT 194.92 258.60 Td (may ) Tj ET Q q 0 0 0 rg BT 216.52 258.60 Td (incur ) Tj ET Q q 0 0 0 rg BT 241.45 258.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 288.05 258.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 312.43 258.60 Td (in ) Tj ET Q q 0 0 0 rg BT 324.59 258.60 Td (connection ) Tj ET Q q 0 0 0 rg BT 372.85 258.60 Td (with ) Tj ET Q q 0 0 0 rg BT 395.01 258.60 Td (remedial ) Tj ET Q q 0 0 0 rg BT 434.37 258.60 Td (plugging ) Tj ET Q q 0 0 0 rg BT 474.31 258.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 520.35 258.60 Td (to ) Tj ET Q q 0 0 0 rg BT 532.51 258.60 Td (prevent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 111.15 246.60 Td (contamination ) Tj ET Q q 0 0 0 rg BT 172.25 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 190.59 246.60 Td (to ) Tj ET Q q 0 0 0 rg BT 202.26 246.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 245.03 246.60 Td (comply ) Tj ET Q q 0 0 0 rg BT 278.92 246.60 Td (with ) Tj ET Q q 0 0 0 rg BT 300.59 246.60 Td (federal, ) Tj ET Q q 0 0 0 rg BT 334.74 246.60 Td (state ) Tj ET Q q 0 0 0 rg BT 356.96 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 375.30 246.60 Td (local ) Tj ET Q q 0 0 0 rg BT 398.62 246.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 446.95 246.60 Td (relative ) Tj ET Q q 0 0 0 rg BT 480.83 246.60 Td (to ) Tj ET Q q 0 0 0 rg BT 492.50 246.60 Td (the ) Tj ET Q q 0 0 0 rg BT 508.61 246.60 Td (plugging ) Tj ET Q q 0 0 0 rg BT 548.06 246.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (abandoning ) Tj ET Q q 0 0 0 rg BT 99.29 234.60 Td (of ) Tj ET Q q 0 0 0 rg BT 110.75 234.60 Td (our ) Tj ET Q q 0 0 0 rg BT 127.21 234.60 Td (oil, ) Tj ET Q q 0 0 0 rg BT 143.40 234.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 174.30 234.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 190.76 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 208.33 234.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 222.22 233.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.47 234.60 Td ( ) Tj ET Q q 0 0 0 rg BT 228.60 234.60 Td (wells.��In ) Tj ET Q q 0 0 0 rg BT 268.67 234.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 304.58 234.60 Td (to ) Tj ET Q q 0 0 0 rg BT 315.49 234.60 Td (the ) Tj ET Q q 0 0 0 rg BT 330.84 234.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 371.73 234.60 Td (costs, ) Tj ET Q q 0 0 0 rg BT 397.36 234.60 Td (if ) Tj ET Q q 0 0 0 rg BT 406.60 234.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 430.84 234.60 Td (have ) Tj ET Q q 0 0 0 rg BT 452.85 234.60 Td (not ) Tj ET Q q 0 0 0 rg BT 468.76 234.60 Td (been ) Tj ET Q q 0 0 0 rg BT 490.77 234.60 Td (properly ) Tj ET Q q 0 0 0 rg BT 527.78 234.60 Td (plugged, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.60 Td (modification ) Tj ET Q q 0 0 0 rg BT 103.10 222.60 Td (to ) Tj ET Q q 0 0 0 rg BT 113.38 222.60 Td (those ) Tj ET Q q 0 0 0 rg BT 136.99 222.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 160.59 222.60 Td (may ) Tj ET Q q 0 0 0 rg BT 180.31 222.60 Td (delay ) Tj ET Q q 0 0 0 rg BT 204.47 222.60 Td (our ) Tj ET Q q 0 0 0 rg BT 220.30 222.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 264.45 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 281.39 222.60 Td (reduce ) Tj ET Q q 0 0 0 rg BT 310.54 222.60 Td (our ) Tj ET Q q 0 0 0 rg BT 326.37 222.60 Td (production.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 198.60 Td (Development ) Tj ET Q q 0 0 0 rg BT 123.08 198.60 Td (activities ) Tj ET Q q 0 0 0 rg BT 160.90 198.60 Td (are ) Tj ET Q q 0 0 0 rg BT 174.82 198.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 204.85 198.60 Td (to ) Tj ET Q q 0 0 0 rg BT 214.35 198.60 Td (many ) Tj ET Q q 0 0 0 rg BT 238.28 198.60 Td (risks, ) Tj ET Q q 0 0 0 rg BT 261.38 198.60 Td (including ) Tj ET Q q 0 0 0 rg BT 300.87 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 314.80 198.60 Td (risk ) Tj ET Q q 0 0 0 rg BT 331.51 198.60 Td (that ) Tj ET Q q 0 0 0 rg BT 348.22 198.60 Td (we ) Tj ET Q q 0 0 0 rg BT 361.59 198.60 Td (will ) Tj ET Q q 0 0 0 rg BT 378.86 198.60 Td (not ) Tj ET Q q 0 0 0 rg BT 393.35 198.60 Td (recover ) Tj ET Q q 0 0 0 rg BT 425.04 198.60 Td (all ) Tj ET Q q 0 0 0 rg BT 436.75 198.60 Td (or ) Tj ET Q q 0 0 0 rg BT 446.79 198.60 Td (any ) Tj ET Q q 0 0 0 rg BT 462.94 198.60 Td (portion ) Tj ET Q q 0 0 0 rg BT 493.54 198.60 Td (of ) Tj ET Q q 0 0 0 rg BT 503.58 198.60 Td (our ) Tj ET Q q 0 0 0 rg BT 518.63 198.60 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.60 Td (in ) Tj ET Q q 0 0 0 rg BT 59.80 186.60 Td (such ) Tj ET Q q 0 0 0 rg BT 80.66 186.60 Td (wells.��Drilling ) Tj ET Q q 0 0 0 rg BT 143.46 186.60 Td (for ) Tj ET Q q 0 0 0 rg BT 157.64 186.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 170.72 186.60 Td (and ) Tj ET Q q 0 0 0 rg BT 187.68 186.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 217.97 186.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 233.83 186.60 Td (may ) Tj ET Q q 0 0 0 rg BT 253.57 186.60 Td (involve ) Tj ET Q q 0 0 0 rg BT 286.09 186.60 Td (unprofitable ) Tj ET Q q 0 0 0 rg BT 337.48 186.60 Td (ef) Tj ET Q q 0 0 0 rg BT 345.07 186.60 Td (forts, ) Tj ET Q q 0 0 0 rg BT 368.43 186.60 Td (not ) Tj ET Q q 0 0 0 rg BT 383.73 186.60 Td (only ) Tj ET Q q 0 0 0 rg BT 404.03 186.60 Td (from ) Tj ET Q q 0 0 0 rg BT 425.99 186.60 Td (dry ) Tj ET Q q 0 0 0 rg BT 441.85 186.60 Td (wells, ) Tj ET Q q 0 0 0 rg BT 467.98 186.60 Td (but ) Tj ET Q q 0 0 0 rg BT 483.28 186.60 Td (also ) Tj ET Q q 0 0 0 rg BT 501.92 186.60 Td (from ) Tj ET Q q 0 0 0 rg BT 523.88 186.60 Td (wells ) Tj ET Q q 0 0 0 rg BT 547.51 186.60 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (are ) Tj ET Q q 0 0 0 rg BT 64.03 174.60 Td (productive ) Tj ET Q q 0 0 0 rg BT 109.11 174.60 Td (but ) Tj ET Q q 0 0 0 rg BT 124.21 174.60 Td (do ) Tj ET Q q 0 0 0 rg BT 136.53 174.60 Td (not ) Tj ET Q q 0 0 0 rg BT 151.63 174.60 Td (produce ) Tj ET Q q 0 0 0 rg BT 186.16 174.60 Td (suf) Tj ET Q q 0 0 0 rg BT 198.20 174.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 226.06 174.60 Td (net ) Tj ET Q q 0 0 0 rg BT 240.60 174.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 275.68 174.60 Td (to ) Tj ET Q q 0 0 0 rg BT 285.78 174.60 Td (return ) Tj ET Q q 0 0 0 rg BT 311.98 174.60 Td (a ) Tj ET Q q 0 0 0 rg BT 318.74 174.60 Td (profit ) Tj ET Q q 0 0 0 rg BT 343.27 174.60 Td (after ) Tj ET Q q 0 0 0 rg BT 363.91 174.60 Td (deducting ) Tj ET Q q 0 0 0 rg BT 405.66 174.60 Td (drilling, ) Tj ET Q q 0 0 0 rg BT 439.93 174.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 480.01 174.60 Td (and ) Tj ET Q q 0 0 0 rg BT 496.77 174.60 Td (other ) Tj ET Q q 0 0 0 rg BT 519.64 174.60 Td (costs.��) Tj ET Q q 0 0 0 rg BT 546.96 174.60 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 67.53 162.60 Td (of ) Tj ET Q q 0 0 0 rg BT 77.78 162.60 Td (drilling, ) Tj ET Q q 0 0 0 rg BT 111.64 162.60 Td (completing ) Tj ET Q q 0 0 0 rg BT 158.55 162.60 Td (and ) Tj ET Q q 0 0 0 rg BT 174.91 162.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 214.60 162.60 Td (a ) Tj ET Q q 0 0 0 rg BT 220.96 162.60 Td (well ) Tj ET Q q 0 0 0 rg BT 240.09 162.60 Td (is ) Tj ET Q q 0 0 0 rg BT 248.68 162.60 Td (often ) Tj ET Q q 0 0 0 rg BT 271.15 162.60 Td (uncertain, ) Tj ET Q q 0 0 0 rg BT 312.77 162.60 Td (and ) Tj ET Q q 0 0 0 rg BT 329.13 162.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 347.16 162.60 Td (factors ) Tj ET Q q 0 0 0 rg BT 376.29 162.60 Td (can ) Tj ET Q q 0 0 0 rg BT 392.09 162.60 Td (adversely ) Tj ET Q q 0 0 0 rg BT 432.32 162.60 Td (af) Tj ET Q q 0 0 0 rg BT 439.91 162.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 456.81 162.60 Td (the ) Tj ET Q q 0 0 0 rg BT 470.95 162.60 Td (economics ) Tj ET Q q 0 0 0 rg BT 515.64 162.60 Td (of ) Tj ET Q q 0 0 0 rg BT 525.89 162.60 Td (a ) Tj ET Q q 0 0 0 rg BT 532.25 162.60 Td (project. ) Tj ET Q q 0 0 0 rg BT 565.01 162.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td (Further) Tj ET Q q 0 0 0 rg BT 78.54 150.60 Td (, ) Tj ET Q q 0 0 0 rg BT 83.54 150.60 Td (our ) Tj ET Q q 0 0 0 rg BT 99.37 150.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 131.31 150.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 175.47 150.60 Td (may ) Tj ET Q q 0 0 0 rg BT 195.18 150.60 Td (be ) Tj ET Q q 0 0 0 rg BT 207.12 150.60 Td (curtailed, ) Tj ET Q q 0 0 0 rg BT 247.10 150.60 Td (delayed ) Tj ET Q q 0 0 0 rg BT 280.70 150.60 Td (or ) Tj ET Q q 0 0 0 rg BT 291.53 150.60 Td (canceled ) Tj ET Q q 0 0 0 rg BT 329.00 150.60 Td (as ) Tj ET Q q 0 0 0 rg BT 339.83 150.60 Td (a ) Tj ET Q q 0 0 0 rg BT 346.77 150.60 Td (result ) Tj ET Q q 0 0 0 rg BT 371.48 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 382.31 150.60 Td (numerous ) Tj ET Q q 0 0 0 rg BT 424.25 150.60 Td (factors, ) Tj ET Q q 0 0 0 rg BT 456.46 150.60 Td (including:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 126.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 126.60 Td (unexpected ) Tj ET Q q 0 0 0 rg BT 133.53 126.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 165.48 126.60 Td (conditions;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 114.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 114.60 Td (pressure ) Tj ET Q q 0 0 0 rg BT 121.32 114.60 Td (or ) Tj ET Q q 0 0 0 rg BT 132.15 114.60 Td (irregularities ) Tj ET Q q 0 0 0 rg BT 185.74 114.60 Td (in ) Tj ET Q q 0 0 0 rg BT 196.02 114.60 Td (formations;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 102.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 102.60 Td (equipment ) Tj ET Q q 0 0 0 rg BT 130.21 102.60 Td (failures ) Tj ET Q q 0 0 0 rg BT 162.70 102.60 Td (or ) Tj ET Q q 0 0 0 rg BT 173.53 102.60 Td (accidents;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 90.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 90.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 118.40 90.60 Td (weather ) Tj ET Q q 0 0 0 rg BT 152.41 90.60 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 198.94 90.60 Td (including ) Tj ET Q q 0 0 0 rg BT 239.08 90.60 Td (hurricanes ) Tj ET Q q 0 0 0 rg BT 283.10 90.60 Td (and ) Tj ET Q q 0 0 0 rg BT 299.90 90.60 Td (tropical ) Tj ET Q q 0 0 0 rg BT 332.81 90.60 Td (storms ) Tj ET Q q 0 0 0 rg BT 361.84 90.60 Td (in ) Tj ET Q q 0 0 0 rg BT 371.99 90.60 Td (and ) Tj ET Q q 0 0 0 rg BT 388.79 90.60 Td (around ) Tj ET Q q 0 0 0 rg BT 418.93 90.60 Td (the ) Tj ET Q q 0 0 0 rg BT 433.51 90.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 454.20 90.60 Td (of ) Tj ET Q q 0 0 0 rg BT 464.90 90.60 Td (Mexico ) Tj ET Q q 0 0 0 rg BT 497.81 90.60 Td (that ) Tj ET Q q 0 0 0 rg BT 515.17 90.60 Td (can ) Tj ET Q q 0 0 0 rg BT 531.42 90.60 Td (damage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 78.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 99.09 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 116.56 78.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 147.36 78.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 163.73 78.60 Td (facilities ) Tj ET Q q 0 0 0 rg BT 201.19 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 218.66 78.60 Td (delivery ) Tj ET Q q 0 0 0 rg BT 254.46 78.60 Td (systems ) Tj ET Q q 0 0 0 rg BT 289.17 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 306.64 78.60 Td (disrupt ) Tj ET Q q 0 0 0 rg BT 337.45 78.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 384.64 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 402.12 78.60 Td (winter ) Tj ET Q q 0 0 0 rg BT 430.70 78.60 Td (conditions ) Tj ET Q q 0 0 0 rg BT 475.40 78.60 Td (and ) Tj ET Q q 0 0 0 rg BT 492.87 78.60 Td (forest ) Tj ET Q q 0 0 0 rg BT 518.67 78.60 Td (fires ) Tj ET Q q 0 0 0 rg BT 539.48 78.60 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 78.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 66.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 114.11 66.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 155.50 66.60 Td (region ) Tj ET Q q 0 0 0 rg BT 183.54 66.60 Td (that ) Tj ET Q q 0 0 0 rg BT 201.04 66.60 Td (can ) Tj ET Q q 0 0 0 rg BT 217.41 66.60 Td (delay ) Tj ET Q q 0 0 0 rg BT 241.57 66.60 Td (or ) Tj ET Q q 0 0 0 rg BT 252.40 66.60 Td (impede ) Tj ET Q q 0 0 0 rg BT 284.33 66.60 Td (operations;) Tj ET Q endstream endobj 59 0 obj <> endobj 60 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 726.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 726.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 134.09 726.60 Td (with ) Tj ET Q q 0 0 0 rg BT 154.37 726.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 214.63 726.60 Td (and ) Tj ET Q q 0 0 0 rg BT 231.56 726.60 Td (other ) Tj ET Q q 0 0 0 rg BT 254.61 726.60 Td (governmental ) Tj ET Q q 0 0 0 rg BT 312.09 726.60 Td (requirements;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 714.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 714.60 Td (the ) Tj ET Q q 0 0 0 rg BT 100.22 714.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 118.83 714.60 Td (of, ) Tj ET Q q 0 0 0 rg BT 132.16 714.60 Td (or ) Tj ET Q q 0 0 0 rg BT 142.99 714.60 Td (shortages ) Tj ET Q q 0 0 0 rg BT 183.25 714.60 Td (or ) Tj ET Q q 0 0 0 rg BT 194.08 714.60 Td (delays ) Tj ET Q q 0 0 0 rg BT 222.13 714.60 Td (in ) Tj ET Q q 0 0 0 rg BT 232.41 714.60 Td (the ) Tj ET Q q 0 0 0 rg BT 247.13 714.60 Td (availability ) Tj ET Q q 0 0 0 rg BT 294.61 714.60 Td (of, ) Tj ET Q q 0 0 0 rg BT 307.94 714.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 339.88 714.60 Td (rigs, ) Tj ET Q q 0 0 0 rg BT 359.88 714.60 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 407.10 714.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 445.70 714.60 Td (and ) Tj ET Q q 0 0 0 rg BT 462.64 714.60 Td (services; ) Tj ET Q q 0 0 0 rg BT 500.12 714.60 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 702.60 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 702.60 Td (title ) Tj ET Q q 0 0 0 rg BT 103.55 702.60 Td (problems.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 678.60 Td (Estimating ) Tj ET Q q 0 0 0 rg BT 98.67 678.60 Td (our) Tj ET Q q 0 0 0 rg BT 113.49 678.60 Td ( ) Tj ET Q q 0 0 0 rg BT 115.99 678.60 Td (r) Tj ET Q q 0 0 0 rg BT 120.25 678.60 Td (eserves, ) Tj ET Q q 0 0 0 rg BT 155.78 678.60 Td (pr) Tj ET Q q 0 0 0 rg BT 165.60 678.60 Td (oduction ) Tj ET Q q 0 0 0 rg BT 205.33 678.60 Td (and ) Tj ET Q q 0 0 0 rg BT 223.96 678.60 Td (futur) Tj ET Q q 0 0 0 rg BT 246.00 678.60 Td (e ) Tj ET Q q 0 0 0 rg BT 252.94 678.60 Td (net ) Tj ET Q q 0 0 0 rg BT 268.77 678.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 290.16 678.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 314.88 678.60 Td (is ) Tj ET Q q 0 0 0 rg BT 324.05 678.60 Td (difficult ) Tj ET Q q 0 0 0 rg BT 360.44 678.60 Td (to ) Tj ET Q q 0 0 0 rg BT 371.27 678.60 Td (do ) Tj ET Q q 0 0 0 rg BT 384.33 678.60 Td (with ) Tj ET Q q 0 0 0 rg BT 405.72 678.60 Td (any ) Tj ET Q q 0 0 0 rg BT 423.78 678.60 Td (certainty) Tj ET Q q 0 0 0 rg BT 461.55 678.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 654.60 Td (Estimating ) Tj ET Q q 0 0 0 rg BT 114.23 654.60 Td (quantities ) Tj ET Q q 0 0 0 rg BT 156.50 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 168.23 654.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 199.39 654.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 213.34 654.60 Td (and ) Tj ET Q q 0 0 0 rg BT 231.18 654.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 262.33 654.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 279.06 654.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 315.21 654.60 Td (is ) Tj ET Q q 0 0 0 rg BT 325.28 654.60 Td (a ) Tj ET Q q 0 0 0 rg BT 333.11 654.60 Td (complex ) Tj ET Q q 0 0 0 rg BT 370.94 654.60 Td (process.��It ) Tj ET Q q 0 0 0 rg BT 417.93 654.60 Td (requires ) Tj ET Q q 0 0 0 rg BT 453.54 654.60 Td (interpretations ) Tj ET Q q 0 0 0 rg BT 514.69 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 526.42 654.60 Td (available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (technical ) Tj ET Q q 0 0 0 rg BT 88.95 642.60 Td (data ) Tj ET Q q 0 0 0 rg BT 108.96 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 126.75 642.60 Td (various ) Tj ET Q q 0 0 0 rg BT 159.55 642.60 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 214.85 642.60 Td (including ) Tj ET Q q 0 0 0 rg BT 255.98 642.60 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 308.79 642.60 Td (relating ) Tj ET Q q 0 0 0 rg BT 342.69 642.60 Td (to ) Tj ET Q q 0 0 0 rg BT 353.82 642.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 396.05 642.60 Td (factors ) Tj ET Q q 0 0 0 rg BT 426.62 642.60 Td (such ) Tj ET Q q 0 0 0 rg BT 448.30 642.60 Td (as ) Tj ET Q q 0 0 0 rg BT 459.99 642.60 Td (future ) Tj ET Q q 0 0 0 rg BT 487.22 642.60 Td (commodity ) Tj ET Q q 0 0 0 rg BT 536.13 642.60 Td (prices, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (production ) Tj ET Q q 0 0 0 rg BT 95.82 630.60 Td (costs, ) Tj ET Q q 0 0 0 rg BT 121.31 630.60 Td (severance ) Tj ET Q q 0 0 0 rg BT 163.72 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 181.15 630.60 Td (excise ) Tj ET Q q 0 0 0 rg BT 209.13 630.60 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 235.17 630.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 264.81 630.60 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 318.90 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 336.33 630.60 Td (workover ) Tj ET Q q 0 0 0 rg BT 377.64 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 395.08 630.60 Td (remedial ) Tj ET Q q 0 0 0 rg BT 433.05 630.60 Td (costs, ) Tj ET Q q 0 0 0 rg BT 458.54 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 475.97 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 491.18 630.60 Td (assumed ) Tj ET Q q 0 0 0 rg BT 528.62 630.60 Td (ef) Tj ET Q q 0 0 0 rg BT 536.20 630.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 554.18 630.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (governmental ) Tj ET Q q 0 0 0 rg BT 108.43 618.60 Td (rules ) Tj ET Q q 0 0 0 rg BT 131.81 618.60 Td (and ) Tj ET Q q 0 0 0 rg BT 150.20 618.60 Td (regulations.��) Tj ET Q q 0 0 0 rg BT 201.95 618.60 Td (There ) Tj ET Q q 0 0 0 rg BT 229.21 618.60 Td (are ) Tj ET Q q 0 0 0 rg BT 245.36 618.60 Td (numerous ) Tj ET Q q 0 0 0 rg BT 288.75 618.60 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 343.78 618.60 Td (about ) Tj ET Q q 0 0 0 rg BT 369.95 618.60 Td (when ) Tj ET Q q 0 0 0 rg BT 395.55 618.60 Td (a ) Tj ET Q q 0 0 0 rg BT 403.94 618.60 Td (property ) Tj ET Q q 0 0 0 rg BT 441.76 618.60 Td (may ) Tj ET Q q 0 0 0 rg BT 462.92 618.60 Td (have ) Tj ET Q q 0 0 0 rg BT 485.75 618.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 517.46 618.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 554.17 618.60 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (compared ) Tj ET Q q 0 0 0 rg BT 91.03 606.60 Td (to ) Tj ET Q q 0 0 0 rg BT 100.92 606.60 Td (potential ) Tj ET Q q 0 0 0 rg BT 138.02 606.60 Td (or ) Tj ET Q q 0 0 0 rg BT 148.46 606.60 Td (probable ) Tj ET Q q 0 0 0 rg BT 185.55 606.60 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 222.92 606.60 Td (particularly ) Tj ET Q q 0 0 0 rg BT 271.12 606.60 Td (relating ) Tj ET Q q 0 0 0 rg BT 303.77 606.60 Td (to ) Tj ET Q q 0 0 0 rg BT 313.66 606.60 Td (our ) Tj ET Q q 0 0 0 rg BT 329.10 606.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 360.08 606.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 397.17 606.60 Td (operations.��Forecasting ) Tj ET Q q 0 0 0 rg BT 495.09 606.60 Td (the ) Tj ET Q q 0 0 0 rg BT 509.41 606.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 541.52 606.60 Td (of ) Tj ET Q q 0 0 0 rg BT 551.96 606.60 Td (oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 84.77 594.60 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 133.91 594.60 Td (from ) Tj ET Q q 0 0 0 rg BT 155.86 594.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 187.24 594.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 233.90 594.60 Td (and ) Tj ET Q q 0 0 0 rg BT 250.85 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 265.58 594.60 Td (production ) Tj ET Q q 0 0 0 rg BT 311.41 594.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 332.80 594.60 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 379.18 594.60 Td (therefrom, ) Tj ET Q q 0 0 0 rg BT 423.61 594.60 Td (requires ) Tj ET Q q 0 0 0 rg BT 458.33 594.60 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 500.55 594.60 Td (one ) Tj ET Q q 0 0 0 rg BT 517.50 594.60 Td (of ) Tj ET Q q 0 0 0 rg BT 528.34 594.60 Td (the ) Tj ET Q q 0 0 0 rg BT 543.06 594.60 Td (most ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 94.03 582.60 Td (being ) Tj ET Q q 0 0 0 rg BT 118.56 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 133.09 582.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 145.96 582.60 Td (recovery ) Tj ET Q q 0 0 0 rg BT 183.25 582.60 Td (factor) Tj ET Q q 0 0 0 rg BT 206.01 582.60 Td (.��) Tj ET Q q 0 0 0 rg BT 212.96 582.60 Td (Actual ) Tj ET Q q 0 0 0 rg BT 241.93 582.60 Td (results ) Tj ET Q q 0 0 0 rg BT 270.35 582.60 Td (most ) Tj ET Q q 0 0 0 rg BT 292.11 582.60 Td (likely ) Tj ET Q q 0 0 0 rg BT 317.20 582.60 Td (will ) Tj ET Q q 0 0 0 rg BT 335.07 582.60 Td (vary ) Tj ET Q q 0 0 0 rg BT 355.15 582.60 Td (from ) Tj ET Q q 0 0 0 rg BT 376.90 582.60 Td (our ) Tj ET Q q 0 0 0 rg BT 392.54 582.60 Td (estimates.��) Tj ET Q q 0 0 0 rg BT 436.70 582.60 Td (Also, ) Tj ET Q q 0 0 0 rg BT 460.41 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 474.94 582.60 Td (use ) Tj ET Q q 0 0 0 rg BT 490.58 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 501.23 582.60 Td (a ) Tj ET Q q 0 0 0 rg BT 507.98 582.60 Td (10% ) Tj ET Q q 0 0 0 rg BT 528.62 582.60 Td (discount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (factor ) Tj ET Q q 0 0 0 rg BT 75.07 570.60 Td (for ) Tj ET Q q 0 0 0 rg BT 88.98 570.60 Td (reporting ) Tj ET Q q 0 0 0 rg BT 127.88 570.60 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 168.19 570.60 Td (as ) Tj ET Q q 0 0 0 rg BT 178.77 570.60 Td (prescribed ) Tj ET Q q 0 0 0 rg BT 222.66 570.60 Td (by ) Tj ET Q q 0 0 0 rg BT 234.92 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 249.38 570.60 Td (SEC, ) Tj ET Q q 0 0 0 rg BT 272.47 570.60 Td (may ) Tj ET Q q 0 0 0 rg BT 291.94 570.60 Td (not ) Tj ET Q q 0 0 0 rg BT 306.97 570.60 Td (necessarily ) Tj ET Q q 0 0 0 rg BT 353.65 570.60 Td (represent ) Tj ET Q q 0 0 0 rg BT 392.54 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 407.01 570.60 Td (most ) Tj ET Q q 0 0 0 rg BT 428.71 570.60 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 476.49 570.60 Td (discount ) Tj ET Q q 0 0 0 rg BT 512.63 570.60 Td (factor) Tj ET Q q 0 0 0 rg BT 535.54 570.60 Td (, ) Tj ET Q q 0 0 0 rg BT 540.30 570.60 Td (given ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (actual ) Tj ET Q q 0 0 0 rg BT 76.04 558.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 108.15 558.60 Td (rates ) Tj ET Q q 0 0 0 rg BT 129.70 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 146.80 558.60 Td (risks ) Tj ET Q q 0 0 0 rg BT 168.37 558.60 Td (to ) Tj ET Q q 0 0 0 rg BT 178.82 558.60 Td (which ) Tj ET Q q 0 0 0 rg BT 205.93 558.60 Td (our ) Tj ET Q q 0 0 0 rg BT 221.93 558.60 Td (business, ) Tj ET Q q 0 0 0 rg BT 260.99 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 278.10 558.60 Td (the ) Tj ET Q q 0 0 0 rg BT 292.99 558.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 306.21 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 323.32 558.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 353.76 558.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 369.76 558.60 Td (industry ) Tj ET Q q 0 0 0 rg BT 405.21 558.60 Td (in ) Tj ET Q q 0 0 0 rg BT 415.66 558.60 Td (general, ) Tj ET Q q 0 0 0 rg BT 450.25 558.60 Td (are ) Tj ET Q q 0 0 0 rg BT 465.13 558.60 Td (subject.��) Tj ET Q q 0 0 0 rg BT 500.40 558.60 Td (Any ) Tj ET Q q 0 0 0 rg BT 520.30 558.60 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (inaccuracies ) Tj ET Q q 0 0 0 rg BT 101.50 546.60 Td (in ) Tj ET Q q 0 0 0 rg BT 111.87 546.60 Td (these ) Tj ET Q q 0 0 0 rg BT 135.01 546.60 Td (interpretations ) Tj ET Q q 0 0 0 rg BT 195.36 546.60 Td (or ) Tj ET Q q 0 0 0 rg BT 206.28 546.60 Td (assumptions, ) Tj ET Q q 0 0 0 rg BT 260.82 546.60 Td (or ) Tj ET Q q 0 0 0 rg BT 271.74 546.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 306.54 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 317.46 546.60 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 364.22 546.60 Td (could ) Tj ET Q q 0 0 0 rg BT 389.03 546.60 Td (result ) Tj ET Q q 0 0 0 rg BT 413.84 546.60 Td (in ) Tj ET Q q 0 0 0 rg BT 424.21 546.60 Td (a ) Tj ET Q q 0 0 0 rg BT 431.24 546.60 Td (revision ) Tj ET Q q 0 0 0 rg BT 466.05 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 476.97 546.60 Td (the ) Tj ET Q q 0 0 0 rg BT 491.78 546.60 Td (quantities ) Tj ET Q q 0 0 0 rg BT 533.25 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 550.28 546.60 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (present ) Tj ET Q q 0 0 0 rg BT 80.88 534.60 Td (value ) Tj ET Q q 0 0 0 rg BT 105.03 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 115.86 534.60 Td (our ) Tj ET Q q 0 0 0 rg BT 131.69 534.60 Td (reserves.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 510.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.79 510.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 121.28 510.60 Td (data ) Tj ET Q q 0 0 0 rg BT 140.68 510.60 Td (included ) Tj ET Q q 0 0 0 rg BT 177.85 510.60 Td (in ) Tj ET Q q 0 0 0 rg BT 188.37 510.60 Td (documents ) Tj ET Q q 0 0 0 rg BT 234.43 510.60 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 287.71 510.60 Td (by ) Tj ET Q q 0 0 0 rg BT 300.44 510.60 Td (reference ) Tj ET Q q 0 0 0 rg BT 340.37 510.60 Td (represent ) Tj ET Q q 0 0 0 rg BT 379.75 510.60 Td (estimates ) Tj ET Q q 0 0 0 rg BT 419.70 510.60 Td (only) Tj ET Q q 0 0 0 rg BT 436.83 510.60 Td (.��Quantities ) Tj ET Q q 0 0 0 rg BT 488.17 510.60 Td (of ) Tj ET Q q 0 0 0 rg BT 499.24 510.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 529.75 510.60 Td (reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.60 Td (are ) Tj ET Q q 0 0 0 rg BT 63.90 498.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 104.42 498.60 Td (based ) Tj ET Q q 0 0 0 rg BT 129.38 498.60 Td (on ) Tj ET Q q 0 0 0 rg BT 141.58 498.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 182.64 498.60 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 229.00 498.60 Td (including ) Tj ET Q q 0 0 0 rg BT 268.97 498.60 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 361.14 498.60 Td (average ) Tj ET Q q 0 0 0 rg BT 394.41 498.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 407.17 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 423.80 498.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 453.76 498.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 469.28 498.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 495.35 498.60 Td (for ) Tj ET Q q 0 0 0 rg BT 509.21 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 523.62 498.60 Td (12-month ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (period ) Tj ET Q q 0 0 0 rg BT 77.88 486.60 Td (preceding ) Tj ET Q q 0 0 0 rg BT 120.13 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 135.17 486.60 Td (date ) Tj ET Q q 0 0 0 rg BT 154.66 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 165.82 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 180.86 486.60 Td (assessment.��) Tj ET Q q 0 0 0 rg BT 232.62 486.60 Td (The ) Tj ET Q q 0 0 0 rg BT 250.99 486.60 Td (representative ) Tj ET Q q 0 0 0 rg BT 309.90 486.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 323.29 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 340.55 486.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 371.15 486.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 387.31 486.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 414.01 486.60 Td (used ) Tj ET Q q 0 0 0 rg BT 435.17 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 445.78 486.60 Td (estimating ) Tj ET Q q 0 0 0 rg BT 490.27 486.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.42 486.60 Td (December�31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 72.31 474.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 107.87 474.60 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.11 474.60 Td ($65.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.61 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 160.42 474.60 Td (per ) Tj ET Q q 0 0 0 rg BT 175.99 474.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 193.25 474.60 Td (for ) Tj ET Q q 0 0 0 rg BT 207.72 474.60 Td (crude ) Tj ET Q q 0 0 0 rg BT 232.73 474.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 246.10 474.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.34 474.60 Td ($3.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.84 474.60 Td ( ) Tj ET Q q 0 0 0 rg BT 288.65 474.60 Td (per ) Tj ET Q q 0 0 0 rg BT 304.23 474.60 Td (MMBtu ) Tj ET Q q 0 0 0 rg BT 339.27 474.60 Td (for ) Tj ET Q q 0 0 0 rg BT 353.73 474.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 384.30 474.60 Td (gas, ) Tj ET Q q 0 0 0 rg BT 402.94 474.60 Td (both ) Tj ET Q q 0 0 0 rg BT 423.53 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 434.67 474.60 Td (which ) Tj ET Q q 0 0 0 rg BT 461.91 474.60 Td (were ) Tj ET Q q 0 0 0 rg BT 484.15 474.60 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 520.28 474.60 Td (for ) Tj ET Q q 0 0 0 rg BT 534.75 474.60 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (dif) Tj ET Q q 0 0 0 rg BT 60.43 462.60 Td (ferentials ) Tj ET Q q 0 0 0 rg BT 100.21 462.60 Td (by ) Tj ET Q q 0 0 0 rg BT 112.79 462.60 Td (field. ) Tj ET Q q 0 0 0 rg BT 136.20 462.60 Td ( ) Tj ET Q q 0 0 0 rg BT 138.78 462.60 Td (Rapid ) Tj ET Q q 0 0 0 rg BT 165.24 462.60 Td (crude ) Tj ET Q q 0 0 0 rg BT 190.03 462.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 203.17 462.60 Td (price ) Tj ET Q q 0 0 0 rg BT 225.74 462.60 Td (declines ) Tj ET Q q 0 0 0 rg BT 261.08 462.60 Td (beginning ) Tj ET Q q 0 0 0 rg BT 303.66 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 314.01 462.60 Td (late ) Tj ET Q q 0 0 0 rg BT 331.03 462.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 353.61 462.60 Td (have ) Tj ET Q q 0 0 0 rg BT 375.07 462.60 Td (resulted ) Tj ET Q q 0 0 0 rg BT 409.30 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 419.66 462.60 Td (a ) Tj ET Q q 0 0 0 rg BT 426.68 462.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 471.47 462.60 Td (decrease ) Tj ET Q q 0 0 0 rg BT 508.47 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 518.83 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 534.74 462.60 Td (proved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 80.87 450.60 Td (value ) Tj ET Q q 0 0 0 rg BT 105.04 450.60 Td (from ) Tj ET Q q 0 0 0 rg BT 126.98 450.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 149.49 450.60 Td (levels, ) Tj ET Q q 0 0 0 rg BT 177.82 450.60 Td (and ) Tj ET Q q 0 0 0 rg BT 194.76 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 205.05 450.60 Td (a ) Tj ET Q q 0 0 0 rg BT 211.99 450.60 Td (lesser ) Tj ET Q q 0 0 0 rg BT 237.27 450.60 Td (degree, ) Tj ET Q q 0 0 0 rg BT 268.92 450.60 Td (a ) Tj ET Q q 0 0 0 rg BT 275.86 450.60 Td (reduction ) Tj ET Q q 0 0 0 rg BT 316.13 450.60 Td (in ) Tj ET Q q 0 0 0 rg BT 326.42 450.60 Td (our ) Tj ET Q q 0 0 0 rg BT 342.25 450.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 372.53 450.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 403.90 450.60 Td (volumes, ) Tj ET Q q 0 0 0 rg BT 442.80 450.60 Td (which ) Tj ET Q q 0 0 0 rg BT 469.74 450.60 Td (has ) Tj ET Q q 0 0 0 rg BT 485.58 450.60 Td (caused ) Tj ET Q q 0 0 0 rg BT 515.29 450.60 Td (us ) Tj ET Q q 0 0 0 rg BT 526.69 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 536.97 450.60 Td (record ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.60 Td (write-downs ) Tj ET Q q 0 0 0 rg BT 102.52 438.60 Td (due ) Tj ET Q q 0 0 0 rg BT 119.99 438.60 Td (to ) Tj ET Q q 0 0 0 rg BT 130.80 438.60 Td (the ) Tj ET Q q 0 0 0 rg BT 146.04 438.60 Td (full ) Tj ET Q q 0 0 0 rg BT 162.96 438.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 182.10 438.60 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 212.34 438.60 Td (test ) Tj ET Q q 0 0 0 rg BT 229.26 438.60 Td (in ) Tj ET Q q 0 0 0 rg BT 240.06 438.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 263.09 438.60 Td (and ) Tj ET Q q 0 0 0 rg BT 280.56 438.60 Td (2016. ) Tj ET Q q 0 0 0 rg BT 306.09 438.60 Td ( ) Tj ET Q q 0 0 0 rg BT 308.45 438.60 Td (As ) Tj ET Q q 0 0 0 rg BT 322.60 438.60 Td (discussed ) Tj ET Q q 0 0 0 rg BT 363.96 438.60 Td (in ) Tj ET Q q 0 0 0 rg BT 374.76 438.60 Td (greater ) Tj ET Q q 0 0 0 rg BT 405.55 438.60 Td (detail ) Tj ET Q q 0 0 0 rg BT 430.79 438.60 Td (below) Tj ET Q q 0 0 0 rg BT 454.58 438.60 Td (, ) Tj ET Q q 0 0 0 rg BT 460.11 438.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 505.35 438.60 Td (declines ) Tj ET Q q 0 0 0 rg BT 541.14 438.60 Td (in ) Tj ET Q q 0 0 0 rg BT 551.95 438.60 Td (oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 75.58 426.60 Td (could ) Tj ET Q q 0 0 0 rg BT 99.99 426.60 Td (result ) Tj ET Q q 0 0 0 rg BT 124.41 426.60 Td (in ) Tj ET Q q 0 0 0 rg BT 134.38 426.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 176.57 426.60 Td (write-downs. ) Tj ET Q q 0 0 0 rg BT 231.26 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 233.46 426.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 251.21 426.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 286.17 426.60 Td (and ) Tj ET Q q 0 0 0 rg BT 302.81 426.60 Td (future ) Tj ET Q q 0 0 0 rg BT 328.88 426.60 Td (cash ) Tj ET Q q 0 0 0 rg BT 348.85 426.60 Td (flows ) Tj ET Q q 0 0 0 rg BT 373.27 426.60 Td (may ) Tj ET Q q 0 0 0 rg BT 392.68 426.60 Td (be ) Tj ET Q q 0 0 0 rg BT 404.32 426.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 434.85 426.60 Td (to ) Tj ET Q q 0 0 0 rg BT 444.82 426.60 Td (revisions ) Tj ET Q q 0 0 0 rg BT 483.13 426.60 Td (based ) Tj ET Q q 0 0 0 rg BT 508.10 426.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 530.30 426.60 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (in ) Tj ET Q q 0 0 0 rg BT 59.99 414.60 Td (economic ) Tj ET Q q 0 0 0 rg BT 101.57 414.60 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 148.44 414.60 Td (including ) Tj ET Q q 0 0 0 rg BT 188.92 414.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 202.19 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 219.34 414.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 249.81 414.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 265.85 414.60 Td (prices, ) Tj ET Q q 0 0 0 rg BT 294.94 414.60 Td (as ) Tj ET Q q 0 0 0 rg BT 305.97 414.60 Td (well ) Tj ET Q q 0 0 0 rg BT 325.90 414.60 Td (as ) Tj ET Q q 0 0 0 rg BT 336.94 414.60 Td (due ) Tj ET Q q 0 0 0 rg BT 354.09 414.60 Td (to ) Tj ET Q q 0 0 0 rg BT 364.57 414.60 Td (production ) Tj ET Q q 0 0 0 rg BT 410.61 414.60 Td (results, ) Tj ET Q q 0 0 0 rg BT 441.93 414.60 Td (results ) Tj ET Q q 0 0 0 rg BT 470.74 414.60 Td (of ) Tj ET Q q 0 0 0 rg BT 481.78 414.60 Td (future ) Tj ET Q q 0 0 0 rg BT 508.37 414.60 Td (development, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 90.50 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 108.18 402.60 Td (development ) Tj ET Q q 0 0 0 rg BT 163.06 402.60 Td (costs, ) Tj ET Q q 0 0 0 rg BT 188.80 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 206.48 402.60 Td (other ) Tj ET Q q 0 0 0 rg BT 230.26 402.60 Td (factors.��Downward ) Tj ET Q q 0 0 0 rg BT 312.64 402.60 Td (revisions ) Tj ET Q q 0 0 0 rg BT 351.99 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 363.55 402.60 Td (our ) Tj ET Q q 0 0 0 rg BT 380.12 402.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 416.12 402.60 Td (could ) Tj ET Q q 0 0 0 rg BT 441.57 402.60 Td (have ) Tj ET Q q 0 0 0 rg BT 463.68 402.60 Td (an ) Tj ET Q q 0 0 0 rg BT 476.36 402.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 510.13 402.60 Td (ef) Tj ET Q q 0 0 0 rg BT 517.72 402.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 535.95 402.60 Td (on ) Tj ET Q q 0 0 0 rg BT 549.18 402.60 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 87.51 390.60 Td (condition ) Tj ET Q q 0 0 0 rg BT 128.32 390.60 Td (and ) Tj ET Q q 0 0 0 rg BT 145.79 390.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 186.58 390.60 Td (results.��) Tj ET Q q 0 0 0 rg BT 219.64 390.60 Td (Actual ) Tj ET Q q 0 0 0 rg BT 249.32 390.60 Td (future ) Tj ET Q q 0 0 0 rg BT 276.23 390.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 303.14 390.60 Td (and ) Tj ET Q q 0 0 0 rg BT 320.61 390.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 343.64 390.60 Td (may ) Tj ET Q q 0 0 0 rg BT 363.89 390.60 Td (be ) Tj ET Q q 0 0 0 rg BT 376.36 390.60 Td (materially ) Tj ET Q q 0 0 0 rg BT 419.93 390.60 Td (higher ) Tj ET Q q 0 0 0 rg BT 448.51 390.60 Td (or ) Tj ET Q q 0 0 0 rg BT 459.87 390.60 Td (lower ) Tj ET Q q 0 0 0 rg BT 485.67 390.60 Td (than ) Tj ET Q q 0 0 0 rg BT 505.92 390.60 Td (the ) Tj ET Q q 0 0 0 rg BT 521.16 390.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 548.07 390.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.00 378.60 Td (used ) Tj ET Q q 0 0 0 rg BT 92.83 378.60 Td (in ) Tj ET Q q 0 0 0 rg BT 103.11 378.60 Td (our ) Tj ET Q q 0 0 0 rg BT 118.94 378.60 Td (estimates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 354.60 Td (As ) Tj ET Q q 0 0 0 rg BT 80.37 354.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.46 354.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 148.31 354.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.31 354.60 Td (, ) Tj ET Q q 0 0 0 rg BT 172.56 354.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.08 354.60 Td (12%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.41 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 252.17 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 262.26 354.60 Td (our ) Tj ET Q q 0 0 0 rg BT 277.35 354.60 Td (estimated ) Tj ET Q q 0 0 0 rg BT 317.43 354.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 346.96 354.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 381.48 354.60 Td (were ) Tj ET Q q 0 0 0 rg BT 402.66 354.60 Td (undeveloped.��Recovery ) Tj ET Q q 0 0 0 rg BT 501.33 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 511.42 354.60 Td (undeveloped ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 84.78 342.60 Td (requires ) Tj ET Q q 0 0 0 rg BT 119.51 342.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 164.24 342.60 Td (capital ) Tj ET Q q 0 0 0 rg BT 193.42 342.60 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 247.03 342.60 Td (and ) Tj ET Q q 0 0 0 rg BT 263.99 342.60 Td (may ) Tj ET Q q 0 0 0 rg BT 283.73 342.60 Td (require ) Tj ET Q q 0 0 0 rg BT 314.57 342.60 Td (successful ) Tj ET Q q 0 0 0 rg BT 358.19 342.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 390.15 342.60 Td (operations.��) Tj ET Q q 0 0 0 rg BT 439.13 342.60 Td (The ) Tj ET Q q 0 0 0 rg BT 457.20 342.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 492.48 342.60 Td (data ) Tj ET Q q 0 0 0 rg BT 511.66 342.60 Td (assumes ) Tj ET Q q 0 0 0 rg BT 547.51 342.60 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (we ) Tj ET Q q 0 0 0 rg BT 63.78 330.60 Td (can ) Tj ET Q q 0 0 0 rg BT 80.28 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 97.33 330.60 Td (will ) Tj ET Q q 0 0 0 rg BT 115.51 330.60 Td (make ) Tj ET Q q 0 0 0 rg BT 139.79 330.60 Td (these ) Tj ET Q q 0 0 0 rg BT 162.95 330.60 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 216.67 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 233.72 330.60 Td (conduct ) Tj ET Q q 0 0 0 rg BT 268.00 330.60 Td (these ) Tj ET Q q 0 0 0 rg BT 291.17 330.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 335.44 330.60 Td (successfully) Tj ET Q q 0 0 0 rg BT 383.67 330.60 Td (, ) Tj ET Q q 0 0 0 rg BT 388.79 330.60 Td (but ) Tj ET Q q 0 0 0 rg BT 404.19 330.60 Td (these ) Tj ET Q q 0 0 0 rg BT 427.35 330.60 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 479.42 330.60 Td (may ) Tj ET Q q 0 0 0 rg BT 499.26 330.60 Td (not ) Tj ET Q q 0 0 0 rg BT 514.65 330.60 Td (be ) Tj ET Q q 0 0 0 rg BT 526.71 330.60 Td (accurate, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 318.60 Td (these ) Tj ET Q q 0 0 0 rg BT 89.49 318.60 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 143.08 318.60 Td (and ) Tj ET Q q 0 0 0 rg BT 160.02 318.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 204.17 318.60 Td (may ) Tj ET Q q 0 0 0 rg BT 223.89 318.60 Td (not ) Tj ET Q q 0 0 0 rg BT 239.17 318.60 Td (occur) Tj ET Q q 0 0 0 rg BT 260.82 318.60 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (Our) Tj ET Q q 0 0 0 rg BT 67.10 294.60 Td ( ) Tj ET Q q 0 0 0 rg BT 69.81 294.60 Td (planned ) Tj ET Q q 0 0 0 rg BT 106.99 294.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 142.46 294.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 190.18 294.60 Td (and ) Tj ET Q q 0 0 0 rg BT 209.02 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 225.07 294.60 Td (r) Tj ET Q q 0 0 0 rg BT 229.32 294.60 Td (elated ) Tj ET Q q 0 0 0 rg BT 257.59 294.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 313.63 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 324.68 294.60 Td (necessary ) Tj ET Q q 0 0 0 rg BT 368.49 294.60 Td (CO) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 383.49 293.17 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.74 294.60 Td ( ) Tj ET Q q 0 0 0 rg BT 389.46 294.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 429.96 294.60 Td (could ) Tj ET Q q 0 0 0 rg BT 456.02 294.60 Td (be ) Tj ET Q q 0 0 0 rg BT 468.74 294.60 Td (delayed ) Tj ET Q q 0 0 0 rg BT 504.23 294.60 Td (by ) Tj ET Q q 0 0 0 rg BT 517.51 294.60 Td (difficulties ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (in ) Tj ET Q q 0 0 0 rg BT 60.34 282.60 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 103.41 282.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 139.81 282.60 Td (rights-of-way ) Tj ET Q q 0 0 0 rg BT 199.52 282.60 Td (and/or) Tj ET Q q 0 0 0 rg BT 227.68 282.60 Td ( ) Tj ET Q q 0 0 0 rg BT 230.18 282.60 Td (permits, ) Tj ET Q q 0 0 0 rg BT 267.95 282.60 Td (and/or) Tj ET Q q 0 0 0 rg BT 296.11 282.60 Td ( ) Tj ET Q q 0 0 0 rg BT 298.61 282.60 Td (by ) Tj ET Q q 0 0 0 rg BT 311.67 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 327.50 282.60 Td (listing ) Tj ET Q q 0 0 0 rg BT 356.12 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 366.95 282.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 399.43 282.60 Td (species ) Tj ET Q q 0 0 0 rg BT 431.37 282.60 Td (as ) Tj ET Q q 0 0 0 rg BT 442.76 282.60 Td (thr) Tj ET Q q 0 0 0 rg BT 455.91 282.60 Td (eatened ) Tj ET Q q 0 0 0 rg BT 491.18 282.60 Td (or) Tj ET Q q 0 0 0 rg BT 500.44 282.60 Td ( ) Tj ET Q q 0 0 0 rg BT 502.94 282.60 Td (endanger) Tj ET Q q 0 0 0 rg BT 542.76 282.60 Td (ed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 258.60 Td (The ) Tj ET Q q 0 0 0 rg BT 85.96 258.60 Td (production ) Tj ET Q q 0 0 0 rg BT 132.19 258.60 Td (of ) Tj ET Q q 0 0 0 rg BT 143.43 258.60 Td (crude ) Tj ET Q q 0 0 0 rg BT 168.55 258.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 182.01 258.60 Td (from ) Tj ET Q q 0 0 0 rg BT 204.36 258.60 Td (our ) Tj ET Q q 0 0 0 rg BT 220.60 258.60 Td (planned ) Tj ET Q q 0 0 0 rg BT 255.16 258.60 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 286.94 258.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 331.51 258.60 Td (is ) Tj ET Q q 0 0 0 rg BT 341.09 258.60 Td (dependent ) Tj ET Q q 0 0 0 rg BT 385.09 258.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 408.00 258.60 Td (having ) Tj ET Q q 0 0 0 rg BT 438.13 258.60 Td (access ) Tj ET Q q 0 0 0 rg BT 466.57 258.60 Td (to ) Tj ET Q q 0 0 0 rg BT 477.26 258.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 516.27 258.60 Td (to ) Tj ET Q q 0 0 0 rg BT 526.96 258.60 Td (transport ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.60 Td (available ) Tj ET Q q 0 0 0 rg BT 88.43 246.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 102.32 245.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.57 246.60 Td ( ) Tj ET Q q 0 0 0 rg BT 108.41 246.60 Td (to ) Tj ET Q q 0 0 0 rg BT 119.03 246.60 Td (our ) Tj ET Q q 0 0 0 rg BT 135.21 246.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 148.60 246.60 Td (fields ) Tj ET Q q 0 0 0 rg BT 173.66 246.60 Td (at ) Tj ET Q q 0 0 0 rg BT 183.72 246.60 Td (a ) Tj ET Q q 0 0 0 rg BT 191.00 246.60 Td (cost ) Tj ET Q q 0 0 0 rg BT 209.95 246.60 Td (that ) Tj ET Q q 0 0 0 rg BT 227.79 246.60 Td (is ) Tj ET Q q 0 0 0 rg BT 237.30 246.60 Td (economically ) Tj ET Q q 0 0 0 rg BT 294.01 246.60 Td (viable.��Our ) Tj ET Q q 0 0 0 rg BT 344.34 246.60 Td (future ) Tj ET Q q 0 0 0 rg BT 371.06 246.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 423.33 246.60 Td (of ) Tj ET Q q 0 0 0 rg BT 434.50 246.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 448.39 245.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.64 246.60 Td ( ) Tj ET Q q 0 0 0 rg BT 454.49 246.60 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 493.43 246.60 Td (will ) Tj ET Q q 0 0 0 rg BT 511.83 246.60 Td (require ) Tj ET Q q 0 0 0 rg BT 542.99 246.60 Td (us ) Tj ET Q q 0 0 0 rg BT 554.72 246.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (obtain ) Tj ET Q q 0 0 0 rg BT 77.11 234.60 Td (rights-of-way ) Tj ET Q q 0 0 0 rg BT 134.16 234.60 Td (from ) Tj ET Q q 0 0 0 rg BT 156.22 234.60 Td (private ) Tj ET Q q 0 0 0 rg BT 186.60 234.60 Td (landowners, ) Tj ET Q q 0 0 0 rg BT 237.82 234.60 Td (state ) Tj ET Q q 0 0 0 rg BT 258.77 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 275.83 234.60 Td (local ) Tj ET Q q 0 0 0 rg BT 297.88 234.60 Td (governments ) Tj ET Q q 0 0 0 rg BT 352.15 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 369.21 234.60 Td (the ) Tj ET Q q 0 0 0 rg BT 384.05 234.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 414.42 234.60 Td (government ) Tj ET Q q 0 0 0 rg BT 464.81 234.60 Td (in ) Tj ET Q q 0 0 0 rg BT 475.20 234.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 505.02 234.60 Td (areas.��Certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.60 Td (states ) Tj ET Q q 0 0 0 rg BT 74.40 222.60 Td (where ) Tj ET Q q 0 0 0 rg BT 101.52 222.60 Td (we ) Tj ET Q q 0 0 0 rg BT 115.87 222.60 Td (operate ) Tj ET Q q 0 0 0 rg BT 147.98 222.60 Td (have ) Tj ET Q q 0 0 0 rg BT 169.54 222.60 Td (considered ) Tj ET Q q 0 0 0 rg BT 215.54 222.60 Td (or ) Tj ET Q q 0 0 0 rg BT 226.56 222.60 Td (may ) Tj ET Q q 0 0 0 rg BT 246.46 222.60 Td (again ) Tj ET Q q 0 0 0 rg BT 270.81 222.60 Td (consider ) Tj ET Q q 0 0 0 rg BT 307.37 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 322.27 222.60 Td (adoption ) Tj ET Q q 0 0 0 rg BT 359.96 222.60 Td (of ) Tj ET Q q 0 0 0 rg BT 370.97 222.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 391.99 222.60 Td (or ) Tj ET Q q 0 0 0 rg BT 403.01 222.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 450.13 222.60 Td (that ) Tj ET Q q 0 0 0 rg BT 467.81 222.60 Td (could ) Tj ET Q q 0 0 0 rg BT 492.71 222.60 Td (limit ) Tj ET Q q 0 0 0 rg BT 514.29 222.60 Td (or ) Tj ET Q q 0 0 0 rg BT 525.31 222.60 Td (eliminate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 63.57 210.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 90.98 210.60 Td (of ) Tj ET Q q 0 0 0 rg BT 101.17 210.60 Td (a ) Tj ET Q q 0 0 0 rg BT 107.47 210.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 141.54 210.60 Td (owner ) Tj ET Q q 0 0 0 rg BT 168.39 210.60 Td (or ) Tj ET Q q 0 0 0 rg BT 178.57 210.60 Td (of ) Tj ET Q q 0 0 0 rg BT 188.76 210.60 Td (a ) Tj ET Q q 0 0 0 rg BT 195.06 210.60 Td (state, ) Tj ET Q q 0 0 0 rg BT 217.74 210.60 Td (state�) Tj ET Q q 0 0 0 rg BT 238.85 210.60 Td (s ) Tj ET Q q 0 0 0 rg BT 244.60 210.60 Td (legislature ) Tj ET Q q 0 0 0 rg BT 288.10 210.60 Td (or ) Tj ET Q q 0 0 0 rg BT 298.29 210.60 Td (its ) Tj ET Q q 0 0 0 rg BT 309.60 210.60 Td (administrative ) Tj ET Q q 0 0 0 rg BT 368.66 210.60 Td (agencies ) Tj ET Q q 0 0 0 rg BT 404.94 210.60 Td (to ) Tj ET Q q 0 0 0 rg BT 414.58 210.60 Td (exercise ) Tj ET Q q 0 0 0 rg BT 449.19 210.60 Td (eminent ) Tj ET Q q 0 0 0 rg BT 483.26 210.60 Td (domain ) Tj ET Q q 0 0 0 rg BT 515.12 210.60 Td (over ) Tj ET Q q 0 0 0 rg BT 534.74 210.60 Td (private ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (property) Tj ET Q q 0 0 0 rg BT 82.73 198.60 Td (, ) Tj ET Q q 0 0 0 rg BT 89.15 198.60 Td (in ) Tj ET Q q 0 0 0 rg BT 100.85 198.60 Td (addition ) Tj ET Q q 0 0 0 rg BT 137.55 198.60 Td (to ) Tj ET Q q 0 0 0 rg BT 149.25 198.60 Td (possible ) Tj ET Q q 0 0 0 rg BT 185.96 198.60 Td (judicially ) Tj ET Q q 0 0 0 rg BT 227.65 198.60 Td (imposed ) Tj ET Q q 0 0 0 rg BT 265.46 198.60 Td (constraints ) Tj ET Q q 0 0 0 rg BT 312.71 198.60 Td (on, ) Tj ET Q q 0 0 0 rg BT 329.13 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 347.49 198.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 391.41 198.60 Td (requirements ) Tj ET Q q 0 0 0 rg BT 447.53 198.60 Td (for) Tj ET Q q 0 0 0 rg BT 458.79 198.60 Td (, ) Tj ET Q q 0 0 0 rg BT 465.22 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 481.36 198.60 Td (exercise ) Tj ET Q q 0 0 0 rg BT 518.04 198.60 Td (of ) Tj ET Q q 0 0 0 rg BT 530.29 198.60 Td (eminent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.60 Td (domain.��) Tj ET Q q 0 0 0 rg BT 86.81 186.60 Td (W) Tj ET Q q 0 0 0 rg BT 95.45 186.60 Td (e ) Tj ET Q q 0 0 0 rg BT 102.78 186.60 Td (also ) Tj ET Q q 0 0 0 rg BT 121.78 186.60 Td (conduct ) Tj ET Q q 0 0 0 rg BT 156.32 186.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 200.86 186.60 Td (on ) Tj ET Q q 0 0 0 rg BT 213.75 186.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 244.39 186.60 Td (and ) Tj ET Q q 0 0 0 rg BT 261.72 186.60 Td (other ) Tj ET Q q 0 0 0 rg BT 285.15 186.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 298.60 186.60 Td (and ) Tj ET Q q 0 0 0 rg BT 315.93 186.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 346.58 186.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 362.80 186.60 Td (leases ) Tj ET Q q 0 0 0 rg BT 389.56 186.60 Td (inhabited ) Tj ET Q q 0 0 0 rg BT 429.66 186.60 Td (by ) Tj ET Q q 0 0 0 rg BT 442.55 186.60 Td (species ) Tj ET Q q 0 0 0 rg BT 474.31 186.60 Td (that ) Tj ET Q q 0 0 0 rg BT 492.20 186.60 Td (could ) Tj ET Q q 0 0 0 rg BT 517.30 186.60 Td (be ) Tj ET Q q 0 0 0 rg BT 529.63 186.60 Td (listed ) Tj ET Q q 0 0 0 rg BT 554.18 186.60 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (threatened ) Tj ET Q q 0 0 0 rg BT 93.57 174.60 Td (or ) Tj ET Q q 0 0 0 rg BT 104.34 174.60 Td (endangered ) Tj ET Q q 0 0 0 rg BT 152.85 174.60 Td (under ) Tj ET Q q 0 0 0 rg BT 178.06 174.60 Td (the ) Tj ET Q q 0 0 0 rg BT 192.71 174.60 Td (Endangered ) Tj ET Q q 0 0 0 rg BT 242.89 174.60 Td (Species ) Tj ET Q q 0 0 0 rg BT 275.34 174.60 Td (Act, ) Tj ET Q q 0 0 0 rg BT 294.71 174.60 Td (which ) Tj ET Q q 0 0 0 rg BT 321.58 174.60 Td (listing ) Tj ET Q q 0 0 0 rg BT 349.02 174.60 Td (could ) Tj ET Q q 0 0 0 rg BT 373.67 174.60 Td (lead ) Tj ET Q q 0 0 0 rg BT 392.75 174.60 Td (to ) Tj ET Q q 0 0 0 rg BT 402.97 174.60 Td (tighter ) Tj ET Q q 0 0 0 rg BT 431.50 174.60 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 478.37 174.60 Td (as ) Tj ET Q q 0 0 0 rg BT 489.13 174.60 Td (to ) Tj ET Q q 0 0 0 rg BT 499.34 174.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 529.53 174.60 Td (land ) Tj ET Q q 0 0 0 rg BT 549.18 174.60 Td (use ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.60 Td (and ) Tj ET Q q 0 0 0 rg BT 65.67 162.60 Td (other ) Tj ET Q q 0 0 0 rg BT 87.94 162.60 Td (land ) Tj ET Q q 0 0 0 rg BT 106.89 162.60 Td (use ) Tj ET Q q 0 0 0 rg BT 121.95 162.60 Td (where ) Tj ET Q q 0 0 0 rg BT 148.10 162.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 177.59 162.60 Td (approvals ) Tj ET Q q 0 0 0 rg BT 218.19 162.60 Td (are ) Tj ET Q q 0 0 0 rg BT 232.13 162.60 Td (required.��) Tj ET Q q 0 0 0 rg BT 272.76 162.60 Td (These ) Tj ET Q q 0 0 0 rg BT 298.37 162.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 318.43 162.60 Td (and ) Tj ET Q q 0 0 0 rg BT 334.59 162.60 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 383.25 162.60 Td (together ) Tj ET Q q 0 0 0 rg BT 417.75 162.60 Td (with ) Tj ET Q q 0 0 0 rg BT 437.25 162.60 Td (any ) Tj ET Q q 0 0 0 rg BT 453.42 162.60 Td (other ) Tj ET Q q 0 0 0 rg BT 475.70 162.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 509.63 162.60 Td (in ) Tj ET Q q 0 0 0 rg BT 519.14 162.60 Td (law ) Tj ET Q q 0 0 0 rg BT 535.31 162.60 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.60 Td (to ) Tj ET Q q 0 0 0 rg BT 59.63 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 74.20 150.60 Td (use ) Tj ET Q q 0 0 0 rg BT 89.89 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 100.57 150.60 Td (eminent ) Tj ET Q q 0 0 0 rg BT 135.13 150.60 Td (domain ) Tj ET Q q 0 0 0 rg BT 167.48 150.60 Td (or ) Tj ET Q q 0 0 0 rg BT 178.17 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 192.74 150.60 Td (listing ) Tj ET Q q 0 0 0 rg BT 220.10 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 230.78 150.60 Td (certain ) Tj ET Q q 0 0 0 rg BT 260.33 150.60 Td (species ) Tj ET Q q 0 0 0 rg BT 291.57 150.60 Td (as ) Tj ET Q q 0 0 0 rg BT 302.25 150.60 Td (threatened ) Tj ET Q q 0 0 0 rg BT 346.24 150.60 Td (or ) Tj ET Q q 0 0 0 rg BT 356.93 150.60 Td (endangered, ) Tj ET Q q 0 0 0 rg BT 407.86 150.60 Td (could ) Tj ET Q q 0 0 0 rg BT 432.43 150.60 Td (inhibit ) Tj ET Q q 0 0 0 rg BT 460.90 150.60 Td (or ) Tj ET Q q 0 0 0 rg BT 471.58 150.60 Td (eliminate ) Tj ET Q q 0 0 0 rg BT 511.15 150.60 Td (our ) Tj ET Q q 0 0 0 rg BT 526.83 150.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 554.73 150.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (secure ) Tj ET Q q 0 0 0 rg BT 78.64 138.60 Td (rights-of-way ) Tj ET Q q 0 0 0 rg BT 136.67 138.60 Td (or ) Tj ET Q q 0 0 0 rg BT 148.60 138.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 191.08 138.60 Td (access ) Tj ET Q q 0 0 0 rg BT 220.22 138.60 Td (land ) Tj ET Q q 0 0 0 rg BT 241.04 138.60 Td (for ) Tj ET Q q 0 0 0 rg BT 256.30 138.60 Td (current ) Tj ET Q q 0 0 0 rg BT 288.22 138.60 Td (or ) Tj ET Q q 0 0 0 rg BT 300.16 138.60 Td (future ) Tj ET Q q 0 0 0 rg BT 327.63 138.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 363.45 138.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 416.49 138.60 Td (projects ) Tj ET Q q 0 0 0 rg BT 451.74 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 469.78 138.60 Td (may ) Tj ET Q q 0 0 0 rg BT 490.60 138.60 Td (require ) Tj ET Q q 0 0 0 rg BT 522.52 138.60 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 94.33 126.60 Td (and ) Tj ET Q q 0 0 0 rg BT 112.50 126.60 Td (environmental ) Tj ET Q q 0 0 0 rg BT 174.00 126.60 Td (compliance, ) Tj ET Q q 0 0 0 rg BT 226.32 126.60 Td (and ) Tj ET Q q 0 0 0 rg BT 244.50 126.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 285.98 126.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 309.72 126.60 Td (in ) Tj ET Q q 0 0 0 rg BT 321.23 126.60 Td (connection ) Tj ET Q q 0 0 0 rg BT 368.84 126.60 Td (therewith, ) Tj ET Q q 0 0 0 rg BT 412.84 126.60 Td (which ) Tj ET Q q 0 0 0 rg BT 441.01 126.60 Td (could ) Tj ET Q q 0 0 0 rg BT 466.97 126.60 Td (delay ) Tj ET Q q 0 0 0 rg BT 492.36 126.60 Td (our ) Tj ET Q q 0 0 0 rg BT 509.42 126.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 523.31 125.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.56 126.60 Td ( ) Tj ET Q q 0 0 0 rg BT 530.30 126.60 Td (pipeline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.60 Td (construction ) Tj ET Q q 0 0 0 rg BT 101.43 114.60 Td (schedule ) Tj ET Q q 0 0 0 rg BT 138.92 114.60 Td (and ) Tj ET Q q 0 0 0 rg BT 155.86 114.60 Td (initiation ) Tj ET Q q 0 0 0 rg BT 194.47 114.60 Td (of ) Tj ET Q q 0 0 0 rg BT 205.30 114.60 Td (our ) Tj ET Q q 0 0 0 rg BT 221.13 114.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 255.84 114.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 302.49 114.60 Td (and/or ) Tj ET Q q 0 0 0 rg BT 330.54 114.60 Td (increase ) Tj ET Q q 0 0 0 rg BT 365.79 114.60 Td (the ) Tj ET Q q 0 0 0 rg BT 380.51 114.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 403.01 114.60 Td (of ) Tj ET Q q 0 0 0 rg BT 413.84 114.60 Td (constructing ) Tj ET Q q 0 0 0 rg BT 465.77 114.60 Td (our ) Tj ET Q q 0 0 0 rg BT 481.60 114.60 Td (pipelines.) Tj ET Q endstream endobj 61 0 obj <> endobj 62 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (30) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 726.75 Td (Our) Tj ET Q q 0 0 0 rg BT 67.10 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 69.48 726.75 Td (futur) Tj ET Q q 0 0 0 rg BT 91.52 726.75 Td (e ) Tj ET Q q 0 0 0 rg BT 98.33 726.75 Td (performance ) Tj ET Q q 0 0 0 rg BT 155.69 726.75 Td (depends ) Tj ET Q q 0 0 0 rg BT 193.08 726.75 Td (upon ) Tj ET Q q 0 0 0 rg BT 217.14 726.75 Td (our) Tj ET Q q 0 0 0 rg BT 231.96 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 234.34 726.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 263.94 726.75 Td (to ) Tj ET Q q 0 0 0 rg BT 274.65 726.75 Td (effectively ) Tj ET Q q 0 0 0 rg BT 320.33 726.75 Td (develop ) Tj ET Q q 0 0 0 rg BT 355.49 726.75 Td (our) Tj ET Q q 0 0 0 rg BT 370.31 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 372.68 726.75 Td (existing ) Tj ET Q q 0 0 0 rg BT 407.84 726.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 420.77 726.75 Td (and ) Tj ET Q q 0 0 0 rg BT 439.28 726.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 473.32 726.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 489.59 726.75 Td (r) Tj ET Q q 0 0 0 rg BT 493.85 726.75 Td (eserves ) Tj ET Q q 0 0 0 rg BT 526.77 726.75 Td (and ) Tj ET Q q 0 0 0 rg BT 545.27 726.75 Td (find ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 714.75 Td (or) Tj ET Q q 0 0 0 rg BT 58.76 714.75 Td ( ) Tj ET Q q 0 0 0 rg BT 61.26 714.75 Td (acquir) Tj ET Q q 0 0 0 rg BT 88.86 714.75 Td (e ) Tj ET Q q 0 0 0 rg BT 95.79 714.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 141.64 714.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 154.70 714.75 Td (and ) Tj ET Q q 0 0 0 rg BT 173.32 714.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 207.49 714.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 223.88 714.75 Td (r) Tj ET Q q 0 0 0 rg BT 228.14 714.75 Td (eserves ) Tj ET Q q 0 0 0 rg BT 261.18 714.75 Td (that ) Tj ET Q q 0 0 0 rg BT 280.90 714.75 Td (ar) Tj ET Q q 0 0 0 rg BT 290.16 714.75 Td (e ) Tj ET Q q 0 0 0 rg BT 297.10 714.75 Td (economically ) Tj ET Q q 0 0 0 rg BT 355.14 714.75 Td (r) Tj ET Q q 0 0 0 rg BT 359.40 714.75 Td (ecoverable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 690.75 Td (Unless ) Tj ET Q q 0 0 0 rg BT 96.40 690.75 Td (we ) Tj ET Q q 0 0 0 rg BT 109.74 690.75 Td (can ) Tj ET Q q 0 0 0 rg BT 125.29 690.75 Td (successfully ) Tj ET Q q 0 0 0 rg BT 175.84 690.75 Td (develop ) Tj ET Q q 0 0 0 rg BT 209.18 690.75 Td (our ) Tj ET Q q 0 0 0 rg BT 224.18 690.75 Td (existing ) Tj ET Q q 0 0 0 rg BT 257.53 690.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 291.96 690.75 Td (and/or ) Tj ET Q q 0 0 0 rg BT 319.19 690.75 Td (replace ) Tj ET Q q 0 0 0 rg BT 349.73 690.75 Td (the ) Tj ET Q q 0 0 0 rg BT 363.62 690.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 398.06 690.75 Td (that ) Tj ET Q q 0 0 0 rg BT 414.73 690.75 Td (we ) Tj ET Q q 0 0 0 rg BT 428.07 690.75 Td (produce, ) Tj ET Q q 0 0 0 rg BT 464.45 690.75 Td (our ) Tj ET Q q 0 0 0 rg BT 479.46 690.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 513.89 690.75 Td (will ) Tj ET Q q 0 0 0 rg BT 531.13 690.75 Td (decline, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.75 Td (resulting ) Tj ET Q q 0 0 0 rg BT 86.86 678.75 Td (eventually ) Tj ET Q q 0 0 0 rg BT 130.88 678.75 Td (in ) Tj ET Q q 0 0 0 rg BT 141.03 678.75 Td (a ) Tj ET Q q 0 0 0 rg BT 147.83 678.75 Td (decrease ) Tj ET Q q 0 0 0 rg BT 184.62 678.75 Td (in ) Tj ET Q q 0 0 0 rg BT 194.76 678.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 207.69 678.75 Td (and ) Tj ET Q q 0 0 0 rg BT 224.50 678.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 254.63 678.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 270.33 678.75 Td (production ) Tj ET Q q 0 0 0 rg BT 316.02 678.75 Td (and ) Tj ET Q q 0 0 0 rg BT 332.83 678.75 Td (lower ) Tj ET Q q 0 0 0 rg BT 357.96 678.75 Td (revenues ) Tj ET Q q 0 0 0 rg BT 395.87 678.75 Td (and ) Tj ET Q q 0 0 0 rg BT 412.67 678.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 432.81 678.75 Td (flows ) Tj ET Q q 0 0 0 rg BT 457.40 678.75 Td (from ) Tj ET Q q 0 0 0 rg BT 479.21 678.75 Td (operations.��) Tj ET Q q 0 0 0 rg BT 528.18 678.75 Td (W) Tj ET Q q 0 0 0 rg BT 536.82 678.75 Td (e ) Tj ET Q q 0 0 0 rg BT 543.63 678.75 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.75 Td (historically ) Tj ET Q q 0 0 0 rg BT 98.76 666.75 Td (replaced ) Tj ET Q q 0 0 0 rg BT 136.88 666.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 173.91 666.75 Td (through ) Tj ET Q q 0 0 0 rg BT 209.28 666.75 Td (both ) Tj ET Q q 0 0 0 rg BT 231.32 666.75 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 283.36 666.75 Td (and ) Tj ET Q q 0 0 0 rg BT 302.07 666.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 336.87 666.75 Td (or) Tj ET Q q 0 0 0 rg BT 345.02 666.75 Td (ganic ) Tj ET Q q 0 0 0 rg BT 370.94 666.75 Td (growth ) Tj ET Q q 0 0 0 rg BT 403.54 666.75 Td (activities.��For ) Tj ET Q q 0 0 0 rg BT 465.29 666.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 500.10 666.75 Td (or) Tj ET Q q 0 0 0 rg BT 508.25 666.75 Td (ganic ) Tj ET Q q 0 0 0 rg BT 534.17 666.75 Td (growth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.75 Td (activities, ) Tj ET Q q 0 0 0 rg BT 90.50 654.75 Td (the ) Tj ET Q q 0 0 0 rg BT 105.12 654.75 Td (magnitude ) Tj ET Q q 0 0 0 rg BT 149.74 654.75 Td (of ) Tj ET Q q 0 0 0 rg BT 160.47 654.75 Td (proved ) Tj ET Q q 0 0 0 rg BT 190.65 654.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 225.81 654.75 Td (that ) Tj ET Q q 0 0 0 rg BT 243.21 654.75 Td (we ) Tj ET Q q 0 0 0 rg BT 257.27 654.75 Td (can ) Tj ET Q q 0 0 0 rg BT 273.55 654.75 Td (book ) Tj ET Q q 0 0 0 rg BT 295.96 654.75 Td (in ) Tj ET Q q 0 0 0 rg BT 306.14 654.75 Td (any ) Tj ET Q q 0 0 0 rg BT 322.98 654.75 Td (given ) Tj ET Q q 0 0 0 rg BT 347.60 654.75 Td (year ) Tj ET Q q 0 0 0 rg BT 367.21 654.75 Td (depends ) Tj ET Q q 0 0 0 rg BT 402.38 654.75 Td (on ) Tj ET Q q 0 0 0 rg BT 414.79 654.75 Td (our ) Tj ET Q q 0 0 0 rg BT 430.52 654.75 Td (progress ) Tj ET Q q 0 0 0 rg BT 466.81 654.75 Td (with ) Tj ET Q q 0 0 0 rg BT 486.99 654.75 Td (new ) Tj ET Q q 0 0 0 rg BT 506.05 654.75 Td (floods ) Tj ET Q q 0 0 0 rg BT 533.46 654.75 Td (and ) Tj ET Q q 0 0 0 rg BT 550.30 654.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.75 Td (timing ) Tj ET Q q 0 0 0 rg BT 78.32 642.75 Td (of ) Tj ET Q q 0 0 0 rg BT 89.36 642.75 Td (the ) Tj ET Q q 0 0 0 rg BT 104.29 642.75 Td (production ) Tj ET Q q 0 0 0 rg BT 150.32 642.75 Td (response, ) Tj ET Q q 0 0 0 rg BT 190.52 642.75 Td (as ) Tj ET Q q 0 0 0 rg BT 201.56 642.75 Td (well ) Tj ET Q q 0 0 0 rg BT 221.49 642.75 Td (as ) Tj ET Q q 0 0 0 rg BT 232.52 642.75 Td (the ) Tj ET Q q 0 0 0 rg BT 247.45 642.75 Td (success ) Tj ET Q q 0 0 0 rg BT 280.15 642.75 Td (of ) Tj ET Q q 0 0 0 rg BT 291.19 642.75 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 341.67 642.75 Td (projects. ) Tj ET Q q 0 0 0 rg BT 378.53 642.75 Td ( ) Tj ET Q q 0 0 0 rg BT 381.24 642.75 Td (In ) Tj ET Q q 0 0 0 rg BT 392.28 642.75 Td (the ) Tj ET Q q 0 0 0 rg BT 407.20 642.75 Td (future, ) Tj ET Q q 0 0 0 rg BT 436.29 642.75 Td (we ) Tj ET Q q 0 0 0 rg BT 450.66 642.75 Td (may ) Tj ET Q q 0 0 0 rg BT 470.58 642.75 Td (not ) Tj ET Q q 0 0 0 rg BT 486.07 642.75 Td (be ) Tj ET Q q 0 0 0 rg BT 498.22 642.75 Td (able ) Tj ET Q q 0 0 0 rg BT 517.58 642.75 Td (to ) Tj ET Q q 0 0 0 rg BT 528.07 642.75 Td (continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.75 Td (to ) Tj ET Q q 0 0 0 rg BT 60.02 630.75 Td (replace ) Tj ET Q q 0 0 0 rg BT 91.63 630.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 127.14 630.75 Td (at ) Tj ET Q q 0 0 0 rg BT 137.10 630.75 Td (acceptable ) Tj ET Q q 0 0 0 rg BT 182.03 630.75 Td (costs.��) Tj ET Q q 0 0 0 rg BT 209.35 630.75 Td (The ) Tj ET Q q 0 0 0 rg BT 227.64 630.75 Td (business ) Tj ET Q q 0 0 0 rg BT 264.28 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 275.36 630.75 Td (exploring ) Tj ET Q q 0 0 0 rg BT 316.43 630.75 Td (for) Tj ET Q q 0 0 0 rg BT 327.69 630.75 Td (, ) Tj ET Q q 0 0 0 rg BT 332.93 630.75 Td (developing ) Tj ET Q q 0 0 0 rg BT 380.11 630.75 Td (or ) Tj ET Q q 0 0 0 rg BT 391.19 630.75 Td (acquiring ) Tj ET Q q 0 0 0 rg BT 431.70 630.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 467.20 630.75 Td (is ) Tj ET Q q 0 0 0 rg BT 476.62 630.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 506.01 630.75 Td (intensive.��) Tj ET Q q 0 0 0 rg BT 549.44 630.75 Td (W) Tj ET Q q 0 0 0 rg BT 558.07 630.75 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.75 Td (may ) Tj ET Q q 0 0 0 rg BT 69.08 618.75 Td (not ) Tj ET Q q 0 0 0 rg BT 84.22 618.75 Td (be ) Tj ET Q q 0 0 0 rg BT 96.02 618.75 Td (able ) Tj ET Q q 0 0 0 rg BT 115.03 618.75 Td (to ) Tj ET Q q 0 0 0 rg BT 125.17 618.75 Td (make ) Tj ET Q q 0 0 0 rg BT 149.19 618.75 Td (the ) Tj ET Q q 0 0 0 rg BT 163.77 618.75 Td (necessary ) Tj ET Q q 0 0 0 rg BT 204.99 618.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 234.00 618.75 Td (investment ) Tj ET Q q 0 0 0 rg BT 280.25 618.75 Td (to ) Tj ET Q q 0 0 0 rg BT 290.39 618.75 Td (maintain ) Tj ET Q q 0 0 0 rg BT 327.74 618.75 Td (or ) Tj ET Q q 0 0 0 rg BT 338.43 618.75 Td (expand ) Tj ET Q q 0 0 0 rg BT 369.67 618.75 Td (our ) Tj ET Q q 0 0 0 rg BT 385.36 618.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 398.27 618.75 Td (and ) Tj ET Q q 0 0 0 rg BT 415.07 618.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 445.20 618.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 460.89 618.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 496.01 618.75 Td (if ) Tj ET Q q 0 0 0 rg BT 504.48 618.75 Td (our ) Tj ET Q q 0 0 0 rg BT 520.17 618.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 540.30 618.75 Td (flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.75 Td (from ) Tj ET Q q 0 0 0 rg BT 71.16 606.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 115.03 606.75 Td (are ) Tj ET Q q 0 0 0 rg BT 129.45 606.75 Td (reduced, ) Tj ET Q q 0 0 0 rg BT 165.81 606.75 Td (whether ) Tj ET Q q 0 0 0 rg BT 200.24 606.75 Td (due ) Tj ET Q q 0 0 0 rg BT 216.89 606.75 Td (to ) Tj ET Q q 0 0 0 rg BT 226.89 606.75 Td (current ) Tj ET Q q 0 0 0 rg BT 257.42 606.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 270.19 606.75 Td (or ) Tj ET Q q 0 0 0 rg BT 280.74 606.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 310.72 606.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 326.27 606.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 352.36 606.75 Td (or ) Tj ET Q q 0 0 0 rg BT 362.91 606.75 Td (otherwise, ) Tj ET Q q 0 0 0 rg BT 406.50 606.75 Td (or ) Tj ET Q q 0 0 0 rg BT 417.05 606.75 Td (if ) Tj ET Q q 0 0 0 rg BT 425.37 606.75 Td (external ) Tj ET Q q 0 0 0 rg BT 459.79 606.75 Td (sources ) Tj ET Q q 0 0 0 rg BT 492.00 606.75 Td (of ) Tj ET Q q 0 0 0 rg BT 502.55 606.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 531.41 606.75 Td (become ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.75 Td (limited ) Tj ET Q q 0 0 0 rg BT 80.32 594.75 Td (or ) Tj ET Q q 0 0 0 rg BT 91.14 594.75 Td (unavailable.��Further) Tj ET Q q 0 0 0 rg BT 173.77 594.75 Td (, ) Tj ET Q q 0 0 0 rg BT 178.76 594.75 Td (the ) Tj ET Q q 0 0 0 rg BT 193.47 594.75 Td (process ) Tj ET Q q 0 0 0 rg BT 225.95 594.75 Td (of ) Tj ET Q q 0 0 0 rg BT 236.77 594.75 Td (using ) Tj ET Q q 0 0 0 rg BT 260.94 594.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 274.83 593.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.08 594.75 Td ( ) Tj ET Q q 0 0 0 rg BT 280.57 594.75 Td (for ) Tj ET Q q 0 0 0 rg BT 294.72 594.75 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 326.08 594.75 Td (recovery) Tj ET Q q 0 0 0 rg BT 360.41 594.75 Td (, ) Tj ET Q q 0 0 0 rg BT 365.40 594.75 Td (and ) Tj ET Q q 0 0 0 rg BT 382.33 594.75 Td (the ) Tj ET Q q 0 0 0 rg BT 397.04 594.75 Td (related ) Tj ET Q q 0 0 0 rg BT 426.73 594.75 Td (infrastructure, ) Tj ET Q q 0 0 0 rg BT 485.59 594.75 Td (requires ) Tj ET Q q 0 0 0 rg BT 520.29 594.75 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 77.89 582.75 Td (investment ) Tj ET Q q 0 0 0 rg BT 123.51 582.75 Td (prior ) Tj ET Q q 0 0 0 rg BT 144.69 582.75 Td (to ) Tj ET Q q 0 0 0 rg BT 154.20 582.75 Td (any ) Tj ET Q q 0 0 0 rg BT 170.38 582.75 Td (resulting ) Tj ET Q q 0 0 0 rg BT 207.11 582.75 Td (and ) Tj ET Q q 0 0 0 rg BT 223.29 582.75 Td (associated ) Tj ET Q q 0 0 0 rg BT 266.12 582.75 Td (production ) Tj ET Q q 0 0 0 rg BT 311.18 582.75 Td (and ) Tj ET Q q 0 0 0 rg BT 327.36 582.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 346.87 582.75 Td (flows ) Tj ET Q q 0 0 0 rg BT 370.83 582.75 Td (from ) Tj ET Q q 0 0 0 rg BT 392.00 582.75 Td (these ) Tj ET Q q 0 0 0 rg BT 414.29 582.75 Td (projects, ) Tj ET Q q 0 0 0 rg BT 450.18 582.75 Td (heightening ) Tj ET Q q 0 0 0 rg BT 499.13 582.75 Td (potential ) Tj ET Q q 0 0 0 rg BT 535.86 582.75 Td (capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.75 Td (constraints.��If ) Tj ET Q q 0 0 0 rg BT 108.78 570.75 Td (our ) Tj ET Q q 0 0 0 rg BT 123.90 570.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 152.34 570.75 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 205.22 570.75 Td (are ) Tj ET Q q 0 0 0 rg BT 219.22 570.75 Td (restricted, ) Tj ET Q q 0 0 0 rg BT 260.71 570.75 Td (or ) Tj ET Q q 0 0 0 rg BT 270.84 570.75 Td (if ) Tj ET Q q 0 0 0 rg BT 278.74 570.75 Td (outside ) Tj ET Q q 0 0 0 rg BT 309.41 570.75 Td (capital ) Tj ET Q q 0 0 0 rg BT 337.85 570.75 Td (resources ) Tj ET Q q 0 0 0 rg BT 377.40 570.75 Td (become ) Tj ET Q q 0 0 0 rg BT 410.29 570.75 Td (limited, ) Tj ET Q q 0 0 0 rg BT 442.91 570.75 Td (we ) Tj ET Q q 0 0 0 rg BT 456.36 570.75 Td (will ) Tj ET Q q 0 0 0 rg BT 473.71 570.75 Td (not ) Tj ET Q q 0 0 0 rg BT 488.28 570.75 Td (be ) Tj ET Q q 0 0 0 rg BT 499.51 570.75 Td (able ) Tj ET Q q 0 0 0 rg BT 517.95 570.75 Td (to ) Tj ET Q q 0 0 0 rg BT 527.52 570.75 Td (maintain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.75 Td (our ) Tj ET Q q 0 0 0 rg BT 65.33 558.75 Td (current ) Tj ET Q q 0 0 0 rg BT 96.15 558.75 Td (production ) Tj ET Q q 0 0 0 rg BT 141.97 558.75 Td (levels.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 534.75 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 102.55 534.75 Td (derivative ) Tj ET Q q 0 0 0 rg BT 147.82 534.75 Td (contracts ) Tj ET Q q 0 0 0 rg BT 189.74 534.75 Td (may ) Tj ET Q q 0 0 0 rg BT 210.57 534.75 Td (expose ) Tj ET Q q 0 0 0 rg BT 241.40 534.75 Td (us ) Tj ET Q q 0 0 0 rg BT 253.36 534.75 Td (to ) Tj ET Q q 0 0 0 rg BT 264.19 534.75 Td (potential ) Tj ET Q q 0 0 0 rg BT 304.47 534.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 344.19 534.75 Td (loss.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 510.75 Td (T) Tj ET Q q 0 0 0 rg BT 72.91 510.75 Td (o ) Tj ET Q q 0 0 0 rg BT 80.72 510.75 Td (reduce ) Tj ET Q q 0 0 0 rg BT 110.17 510.75 Td (our ) Tj ET Q q 0 0 0 rg BT 126.31 510.75 Td (exposure ) Tj ET Q q 0 0 0 rg BT 165.21 510.75 Td (to ) Tj ET Q q 0 0 0 rg BT 175.80 510.75 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 225.81 510.75 Td (in ) Tj ET Q q 0 0 0 rg BT 236.40 510.75 Td (the ) Tj ET Q q 0 0 0 rg BT 251.42 510.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 278.11 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 289.24 510.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 302.61 510.75 Td (and ) Tj ET Q q 0 0 0 rg BT 319.85 510.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 350.42 510.75 Td (gas, ) Tj ET Q q 0 0 0 rg BT 369.06 510.75 Td (we ) Tj ET Q q 0 0 0 rg BT 383.53 510.75 Td (enter ) Tj ET Q q 0 0 0 rg BT 406.32 510.75 Td (into ) Tj ET Q q 0 0 0 rg BT 424.68 510.75 Td (commodity ) Tj ET Q q 0 0 0 rg BT 473.04 510.75 Td (derivative ) Tj ET Q q 0 0 0 rg BT 515.83 510.75 Td (contracts ) Tj ET Q q 0 0 0 rg BT 554.73 510.75 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 498.75 Td (order ) Tj ET Q q 0 0 0 rg BT 73.72 498.75 Td (to ) Tj ET Q q 0 0 0 rg BT 84.61 498.75 Td (economically ) Tj ET Q q 0 0 0 rg BT 141.59 498.75 Td (hedge ) Tj ET Q q 0 0 0 rg BT 168.59 498.75 Td (a ) Tj ET Q q 0 0 0 rg BT 176.14 498.75 Td (portion ) Tj ET Q q 0 0 0 rg BT 208.15 498.75 Td (of ) Tj ET Q q 0 0 0 rg BT 219.59 498.75 Td (our ) Tj ET Q q 0 0 0 rg BT 236.04 498.75 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 280.24 498.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 293.91 498.75 Td (and ) Tj ET Q q 0 0 0 rg BT 311.47 498.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 342.35 498.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 358.80 498.75 Td (production.��) Tj ET Q q 0 0 0 rg BT 409.07 498.75 Td (As ) Tj ET Q q 0 0 0 rg BT 423.30 498.75 Td (of ) Tj ET Q q 0 0 0 rg BT 434.75 498.75 Td (February ) Tj ET Q q 0 0 0 rg BT 473.96 498.75 Td (26, ) Tj ET Q q 0 0 0 rg BT 489.58 498.75 Td (2019, ) Tj ET Q q 0 0 0 rg BT 515.20 498.75 Td (we ) Tj ET Q q 0 0 0 rg BT 529.97 498.75 Td (have ) Tj ET Q q 0 0 0 rg BT 551.97 498.75 Td (oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.75 Td (derivative ) Tj ET Q q 0 0 0 rg BT 91.15 486.75 Td (contracts ) Tj ET Q q 0 0 0 rg BT 128.92 486.75 Td (in ) Tj ET Q q 0 0 0 rg BT 138.37 486.75 Td (place ) Tj ET Q q 0 0 0 rg BT 161.13 486.75 Td (covering ) Tj ET Q q 0 0 0 rg BT 197.79 486.75 Td (39,500 ) Tj ET Q q 0 0 0 rg BT 226.96 486.75 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 254.75 486.75 Td (for ) Tj ET Q q 0 0 0 rg BT 268.08 486.75 Td (the ) Tj ET Q q 0 0 0 rg BT 281.97 486.75 Td (remainder ) Tj ET Q q 0 0 0 rg BT 324.17 486.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.17 486.75 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.17 486.75 Td ( ) Tj ET Q q 0 0 0 rg BT 355.85 486.75 Td (and ) Tj ET Q q 0 0 0 rg BT 371.96 486.75 Td (4,000 ) Tj ET Q q 0 0 0 rg BT 396.13 486.75 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 423.92 486.75 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.25 486.75 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.25 486.75 Td (. ) Tj ET Q q 0 0 0 rg BT 461.42 486.75 Td ( ) Tj ET Q q 0 0 0 rg BT 463.09 486.75 Td (Such ) Tj ET Q q 0 0 0 rg BT 484.76 486.75 Td (derivative ) Tj ET Q q 0 0 0 rg BT 526.41 486.75 Td (contracts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.75 Td (expose ) Tj ET Q q 0 0 0 rg BT 80.01 474.75 Td (us ) Tj ET Q q 0 0 0 rg BT 91.63 474.75 Td (to ) Tj ET Q q 0 0 0 rg BT 102.15 474.75 Td (risk ) Tj ET Q q 0 0 0 rg BT 119.89 474.75 Td (of ) Tj ET Q q 0 0 0 rg BT 130.95 474.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 168.67 474.75 Td (loss ) Tj ET Q q 0 0 0 rg BT 186.97 474.75 Td (in ) Tj ET Q q 0 0 0 rg BT 197.48 474.75 Td (some ) Tj ET Q q 0 0 0 rg BT 221.33 474.75 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 283.21 474.75 Td (including ) Tj ET Q q 0 0 0 rg BT 323.72 474.75 Td (when ) Tj ET Q q 0 0 0 rg BT 348.11 474.75 Td (there ) Tj ET Q q 0 0 0 rg BT 370.84 474.75 Td (is ) Tj ET Q q 0 0 0 rg BT 380.24 474.75 Td (a ) Tj ET Q q 0 0 0 rg BT 387.42 474.75 Td (change ) Tj ET Q q 0 0 0 rg BT 418.47 474.75 Td (in ) Tj ET Q q 0 0 0 rg BT 428.98 474.75 Td (the ) Tj ET Q q 0 0 0 rg BT 443.94 474.75 Td (expected ) Tj ET Q q 0 0 0 rg BT 482.21 474.75 Td (dif) Tj ET Q q 0 0 0 rg BT 493.14 474.75 Td (ferential ) Tj ET Q q 0 0 0 rg BT 529.18 474.75 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.75 Td (the ) Tj ET Q q 0 0 0 rg BT 64.06 462.75 Td (underlying ) Tj ET Q q 0 0 0 rg BT 109.72 462.75 Td (price ) Tj ET Q q 0 0 0 rg BT 132.05 462.75 Td (in ) Tj ET Q q 0 0 0 rg BT 142.17 462.75 Td (the ) Tj ET Q q 0 0 0 rg BT 156.72 462.75 Td (hedging ) Tj ET Q q 0 0 0 rg BT 191.28 462.75 Td (agreement ) Tj ET Q q 0 0 0 rg BT 235.26 462.75 Td (and ) Tj ET Q q 0 0 0 rg BT 252.04 462.75 Td (actual ) Tj ET Q q 0 0 0 rg BT 278.25 462.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 304.47 462.75 Td (received, ) Tj ET Q q 0 0 0 rg BT 343.17 462.75 Td (when ) Tj ET Q q 0 0 0 rg BT 367.17 462.75 Td (the ) Tj ET Q q 0 0 0 rg BT 381.73 462.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 401.84 462.75 Td (benefit ) Tj ET Q q 0 0 0 rg BT 431.94 462.75 Td (from ) Tj ET Q q 0 0 0 rg BT 453.72 462.75 Td (hedges ) Tj ET Q q 0 0 0 rg BT 483.83 462.75 Td (including ) Tj ET Q q 0 0 0 rg BT 523.95 462.75 Td (a ) Tj ET Q q 0 0 0 rg BT 530.72 462.75 Td (sold ) Tj ET Q q 0 0 0 rg BT 549.73 462.75 Td (put ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.75 Td (is ) Tj ET Q q 0 0 0 rg BT 57.73 450.75 Td (limited ) Tj ET Q q 0 0 0 rg BT 87.61 450.75 Td (to ) Tj ET Q q 0 0 0 rg BT 96.94 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 110.72 450.75 Td (extent ) Tj ET Q q 0 0 0 rg BT 136.70 450.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 148.82 450.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 174.25 450.75 Td (fall ) Tj ET Q q 0 0 0 rg BT 189.13 450.75 Td (below ) Tj ET Q q 0 0 0 rg BT 215.12 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 228.89 450.75 Td (price ) Tj ET Q q 0 0 0 rg BT 250.44 450.75 Td (of ) Tj ET Q q 0 0 0 rg BT 260.32 450.75 Td (our ) Tj ET Q q 0 0 0 rg BT 275.21 450.75 Td (sold ) Tj ET Q q 0 0 0 rg BT 293.43 450.75 Td (puts, ) Tj ET Q q 0 0 0 rg BT 314.16 450.75 Td (or ) Tj ET Q q 0 0 0 rg BT 324.04 450.75 Td (when ) Tj ET Q q 0 0 0 rg BT 347.26 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 361.03 450.75 Td (counterparty ) Tj ET Q q 0 0 0 rg BT 413.12 450.75 Td (to ) Tj ET Q q 0 0 0 rg BT 422.45 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 436.22 450.75 Td (derivative ) Tj ET Q q 0 0 0 rg BT 477.76 450.75 Td (contract ) Tj ET Q q 0 0 0 rg BT 511.51 450.75 Td (is ) Tj ET Q q 0 0 0 rg BT 519.74 450.75 Td (financially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.75 Td (constrained ) Tj ET Q q 0 0 0 rg BT 98.76 438.75 Td (and ) Tj ET Q q 0 0 0 rg BT 116.37 438.75 Td (defaults ) Tj ET Q q 0 0 0 rg BT 151.19 438.75 Td (on ) Tj ET Q q 0 0 0 rg BT 164.36 438.75 Td (its ) Tj ET Q q 0 0 0 rg BT 176.98 438.75 Td (contractual ) Tj ET Q q 0 0 0 rg BT 224.57 438.75 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 274.68 438.75 Td ( ) Tj ET Q q 0 0 0 rg BT 277.85 438.75 Td (In ) Tj ET Q q 0 0 0 rg BT 289.35 438.75 Td (addition, ) Tj ET Q q 0 0 0 rg BT 327.79 438.75 Td (these ) Tj ET Q q 0 0 0 rg BT 351.51 438.75 Td (derivative ) Tj ET Q q 0 0 0 rg BT 394.66 438.75 Td (contracts ) Tj ET Q q 0 0 0 rg BT 433.92 438.75 Td (may ) Tj ET Q q 0 0 0 rg BT 454.30 438.75 Td (limit ) Tj ET Q q 0 0 0 rg BT 476.37 438.75 Td (the ) Tj ET Q q 0 0 0 rg BT 491.75 438.75 Td (benefit ) Tj ET Q q 0 0 0 rg BT 522.68 438.75 Td (we ) Tj ET Q q 0 0 0 rg BT 537.51 438.75 Td (would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.75 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 90.88 426.75 Td (receive ) Tj ET Q q 0 0 0 rg BT 122.24 426.75 Td (from ) Tj ET Q q 0 0 0 rg BT 144.18 426.75 Td (increases ) Tj ET Q q 0 0 0 rg BT 183.32 426.75 Td (in ) Tj ET Q q 0 0 0 rg BT 193.60 426.75 Td (the ) Tj ET Q q 0 0 0 rg BT 208.32 426.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 234.70 426.75 Td (for ) Tj ET Q q 0 0 0 rg BT 248.86 426.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 261.91 426.75 Td (and ) Tj ET Q q 0 0 0 rg BT 278.85 426.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 309.11 426.75 Td (gas.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 402.75 Td (Shortages ) Tj ET Q q 0 0 0 rg BT 93.74 402.75 Td (of ) Tj ET Q q 0 0 0 rg BT 104.08 402.75 Td (or) Tj ET Q q 0 0 0 rg BT 113.34 402.75 Td ( ) Tj ET Q q 0 0 0 rg BT 115.35 402.75 Td (delays ) Tj ET Q q 0 0 0 rg BT 144.04 402.75 Td (in ) Tj ET Q q 0 0 0 rg BT 154.39 402.75 Td (the ) Tj ET Q q 0 0 0 rg BT 169.73 402.75 Td (availability ) Tj ET Q q 0 0 0 rg BT 219.53 402.75 Td (of ) Tj ET Q q 0 0 0 rg BT 229.88 402.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 242.45 402.75 Td (field ) Tj ET Q q 0 0 0 rg BT 263.35 402.75 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 313.42 402.75 Td (services ) Tj ET Q q 0 0 0 rg BT 348.75 402.75 Td (and ) Tj ET Q q 0 0 0 rg BT 366.89 402.75 Td (qualified ) Tj ET Q q 0 0 0 rg BT 406.69 402.75 Td (personnel ) Tj ET Q q 0 0 0 rg BT 450.38 402.75 Td (could ) Tj ET Q q 0 0 0 rg BT 475.73 402.75 Td (r) Tj ET Q q 0 0 0 rg BT 479.99 402.75 Td (educe ) Tj ET Q q 0 0 0 rg BT 506.44 402.75 Td (our) Tj ET Q q 0 0 0 rg BT 521.26 402.75 Td ( ) Tj ET Q q 0 0 0 rg BT 523.27 402.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 544.18 402.75 Td (flow ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 390.75 Td (and ) Tj ET Q q 0 0 0 rg BT 68.12 390.75 Td (adversely ) Tj ET Q q 0 0 0 rg BT 111.17 390.75 Td (affect ) Tj ET Q q 0 0 0 rg BT 137.54 390.75 Td (r) Tj ET Q q 0 0 0 rg BT 141.79 390.75 Td (esults ) Tj ET Q q 0 0 0 rg BT 168.19 390.75 Td (of ) Tj ET Q q 0 0 0 rg BT 179.02 390.75 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 366.75 Td (The ) Tj ET Q q 0 0 0 rg BT 85.22 366.75 Td (demand ) Tj ET Q q 0 0 0 rg BT 119.06 366.75 Td (for ) Tj ET Q q 0 0 0 rg BT 132.89 366.75 Td (qualified ) Tj ET Q q 0 0 0 rg BT 170.61 366.75 Td (and ) Tj ET Q q 0 0 0 rg BT 187.23 366.75 Td (experienced ) Tj ET Q q 0 0 0 rg BT 237.70 366.75 Td (field ) Tj ET Q q 0 0 0 rg BT 258.21 366.75 Td (personnel, ) Tj ET Q q 0 0 0 rg BT 301.76 366.75 Td (geologists, ) Tj ET Q q 0 0 0 rg BT 346.99 366.75 Td (geophysicists, ) Tj ET Q q 0 0 0 rg BT 405.56 366.75 Td (engineers ) Tj ET Q q 0 0 0 rg BT 446.05 366.75 Td (and ) Tj ET Q q 0 0 0 rg BT 462.66 366.75 Td (other ) Tj ET Q q 0 0 0 rg BT 485.39 366.75 Td (professionals ) Tj ET Q q 0 0 0 rg BT 540.33 366.75 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 366.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 61.66 354.75 Td (and ) Tj ET Q q 0 0 0 rg BT 77.70 354.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 107.07 354.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 122.00 354.75 Td (industry ) Tj ET Q q 0 0 0 rg BT 156.39 354.75 Td (can ) Tj ET Q q 0 0 0 rg BT 171.87 354.75 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 208.45 354.75 Td (significantly) Tj ET Q q 0 0 0 rg BT 257.79 354.75 Td (, ) Tj ET Q q 0 0 0 rg BT 261.90 354.75 Td (often ) Tj ET Q q 0 0 0 rg BT 284.05 354.75 Td (in ) Tj ET Q q 0 0 0 rg BT 293.43 354.75 Td (correlation ) Tj ET Q q 0 0 0 rg BT 338.35 354.75 Td (with ) Tj ET Q q 0 0 0 rg BT 357.73 354.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 369.89 354.75 Td (and ) Tj ET Q q 0 0 0 rg BT 385.93 354.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 415.30 354.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 430.23 354.75 Td (prices, ) Tj ET Q q 0 0 0 rg BT 458.21 354.75 Td (causing ) Tj ET Q q 0 0 0 rg BT 490.36 354.75 Td (periodic ) Tj ET Q q 0 0 0 rg BT 524.73 354.75 Td (shortages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.75 Td (in ) Tj ET Q q 0 0 0 rg BT 59.63 342.75 Td (such ) Tj ET Q q 0 0 0 rg BT 80.32 342.75 Td (personnel.��In ) Tj ET Q q 0 0 0 rg BT 137.38 342.75 Td (the ) Tj ET Q q 0 0 0 rg BT 151.95 342.75 Td (past, ) Tj ET Q q 0 0 0 rg BT 172.91 342.75 Td (during ) Tj ET Q q 0 0 0 rg BT 201.37 342.75 Td (periods ) Tj ET Q q 0 0 0 rg BT 233.16 342.75 Td (of ) Tj ET Q q 0 0 0 rg BT 243.85 342.75 Td (higher ) Tj ET Q q 0 0 0 rg BT 271.75 342.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 284.66 342.75 Td (and ) Tj ET Q q 0 0 0 rg BT 301.45 342.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 331.57 342.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 347.25 342.75 Td (prices, ) Tj ET Q q 0 0 0 rg BT 375.98 342.75 Td (there ) Tj ET Q q 0 0 0 rg BT 398.32 342.75 Td (have ) Tj ET Q q 0 0 0 rg BT 419.55 342.75 Td (been ) Tj ET Q q 0 0 0 rg BT 440.78 342.75 Td (shortages ) Tj ET Q q 0 0 0 rg BT 480.90 342.75 Td (of ) Tj ET Q q 0 0 0 rg BT 491.58 342.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 504.50 342.75 Td (field ) Tj ET Q q 0 0 0 rg BT 525.17 342.75 Td (and ) Tj ET Q q 0 0 0 rg BT 541.97 342.75 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.75 Td (necessary ) Tj ET Q q 0 0 0 rg BT 94.13 330.75 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 144.60 330.75 Td (including ) Tj ET Q q 0 0 0 rg BT 188.13 330.75 Td (drilling ) Tj ET Q q 0 0 0 rg BT 223.33 330.75 Td (rigs, ) Tj ET Q q 0 0 0 rg BT 246.59 330.75 Td (along ) Tj ET Q q 0 0 0 rg BT 274.57 330.75 Td (with ) Tj ET Q q 0 0 0 rg BT 298.11 330.75 Td (increased ) Tj ET Q q 0 0 0 rg BT 341.62 330.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 371.26 330.75 Td (for ) Tj ET Q q 0 0 0 rg BT 388.68 330.75 Td (such ) Tj ET Q q 0 0 0 rg BT 412.77 330.75 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 463.24 330.75 Td (services ) Tj ET Q q 0 0 0 rg BT 501.21 330.75 Td (and ) Tj ET Q q 0 0 0 rg BT 521.41 330.75 Td (associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.75 Td (personnel.��) Tj ET Q q 0 0 0 rg BT 95.70 318.75 Td (These ) Tj ET Q q 0 0 0 rg BT 122.68 318.75 Td (types ) Tj ET Q q 0 0 0 rg BT 146.89 318.75 Td (of ) Tj ET Q q 0 0 0 rg BT 158.32 318.75 Td (shortages ) Tj ET Q q 0 0 0 rg BT 199.19 318.75 Td (or ) Tj ET Q q 0 0 0 rg BT 210.63 318.75 Td (price ) Tj ET Q q 0 0 0 rg BT 233.71 318.75 Td (increases ) Tj ET Q q 0 0 0 rg BT 273.46 318.75 Td (could ) Tj ET Q q 0 0 0 rg BT 298.78 318.75 Td (significantly ) Tj ET Q q 0 0 0 rg BT 351.88 318.75 Td (decrease ) Tj ET Q q 0 0 0 rg BT 389.39 318.75 Td (our ) Tj ET Q q 0 0 0 rg BT 405.83 318.75 Td (profit ) Tj ET Q q 0 0 0 rg BT 431.15 318.75 Td (mar) Tj ET Q q 0 0 0 rg BT 446.51 318.75 Td (gin, ) Tj ET Q q 0 0 0 rg BT 464.89 318.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 485.76 318.75 Td (flow ) Tj ET Q q 0 0 0 rg BT 507.20 318.75 Td (and ) Tj ET Q q 0 0 0 rg BT 524.74 318.75 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (results ) Tj ET Q q 0 0 0 rg BT 78.15 306.75 Td (and/or ) Tj ET Q q 0 0 0 rg BT 106.24 306.75 Td (restrict ) Tj ET Q q 0 0 0 rg BT 136.55 306.75 Td (or ) Tj ET Q q 0 0 0 rg BT 147.42 306.75 Td (delay ) Tj ET Q q 0 0 0 rg BT 171.62 306.75 Td (our ) Tj ET Q q 0 0 0 rg BT 187.49 306.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 215.59 306.75 Td (to ) Tj ET Q q 0 0 0 rg BT 225.91 306.75 Td (drill ) Tj ET Q q 0 0 0 rg BT 245.12 306.75 Td (wells ) Tj ET Q q 0 0 0 rg BT 268.77 306.75 Td (and ) Tj ET Q q 0 0 0 rg BT 285.75 306.75 Td (conduct ) Tj ET Q q 0 0 0 rg BT 319.95 306.75 Td (our ) Tj ET Q q 0 0 0 rg BT 335.82 306.75 Td (operations, ) Tj ET Q q 0 0 0 rg BT 382.52 306.75 Td (possibly ) Tj ET Q q 0 0 0 rg BT 418.40 306.75 Td (causing ) Tj ET Q q 0 0 0 rg BT 451.49 306.75 Td (us ) Tj ET Q q 0 0 0 rg BT 462.93 306.75 Td (to ) Tj ET Q q 0 0 0 rg BT 473.25 306.75 Td (miss ) Tj ET Q q 0 0 0 rg BT 494.13 306.75 Td (our ) Tj ET Q q 0 0 0 rg BT 510.00 306.75 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 548.08 306.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.75 Td (projections.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 270.75 Td (The ) Tj ET Q q 0 0 0 rg BT 68.20 270.75 Td (marketability ) Tj ET Q q 0 0 0 rg BT 128.56 270.75 Td (of ) Tj ET Q q 0 0 0 rg BT 138.92 270.75 Td (our) Tj ET Q q 0 0 0 rg BT 153.74 270.75 Td ( ) Tj ET Q q 0 0 0 rg BT 155.78 270.75 Td (pr) Tj ET Q q 0 0 0 rg BT 165.59 270.75 Td (oduction ) Tj ET Q q 0 0 0 rg BT 204.86 270.75 Td (is ) Tj ET Q q 0 0 0 rg BT 213.56 270.75 Td (dependent ) Tj ET Q q 0 0 0 rg BT 260.05 270.75 Td (upon ) Tj ET Q q 0 0 0 rg BT 283.76 270.75 Td (transportation ) Tj ET Q q 0 0 0 rg BT 348.02 270.75 Td (lines ) Tj ET Q q 0 0 0 rg BT 369.50 270.75 Td (and ) Tj ET Q q 0 0 0 rg BT 387.66 270.75 Td (other) Tj ET Q q 0 0 0 rg BT 410.24 270.75 Td ( ) Tj ET Q q 0 0 0 rg BT 412.28 270.75 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 452.35 270.75 Td (certain ) Tj ET Q q 0 0 0 rg BT 484.37 270.75 Td (of ) Tj ET Q q 0 0 0 rg BT 494.73 270.75 Td (which ) Tj ET Q q 0 0 0 rg BT 522.33 270.75 Td (we ) Tj ET Q q 0 0 0 rg BT 536.02 270.75 Td (do ) Tj ET Q q 0 0 0 rg BT 548.61 270.75 Td (not ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 258.75 Td (contr) Tj ET Q q 0 0 0 rg BT 72.09 258.75 Td (ol. ) Tj ET Q q 0 0 0 rg BT 84.87 258.75 Td ( ) Tj ET Q q 0 0 0 rg BT 87.19 258.75 Td (When ) Tj ET Q q 0 0 0 rg BT 115.25 258.75 Td (these ) Tj ET Q q 0 0 0 rg BT 139.41 258.75 Td (facilities ) Tj ET Q q 0 0 0 rg BT 177.45 258.75 Td (ar) Tj ET Q q 0 0 0 rg BT 186.71 258.75 Td (e ) Tj ET Q q 0 0 0 rg BT 193.65 258.75 Td (unavailable, ) Tj ET Q q 0 0 0 rg BT 248.10 258.75 Td (our) Tj ET Q q 0 0 0 rg BT 262.92 258.75 Td ( ) Tj ET Q q 0 0 0 rg BT 265.42 258.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 312.92 258.75 Td (can ) Tj ET Q q 0 0 0 rg BT 330.42 258.75 Td (be ) Tj ET Q q 0 0 0 rg BT 342.92 258.75 Td (interrupted ) Tj ET Q q 0 0 0 rg BT 394.86 258.75 Td (and ) Tj ET Q q 0 0 0 rg BT 413.48 258.75 Td (our) Tj ET Q q 0 0 0 rg BT 428.30 258.75 Td ( ) Tj ET Q q 0 0 0 rg BT 430.80 258.75 Td (r) Tj ET Q q 0 0 0 rg BT 435.06 258.75 Td (evenues ) Tj ET Q q 0 0 0 rg BT 470.89 258.75 Td (r) Tj ET Q q 0 0 0 rg BT 475.15 258.75 Td (educed.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 234.75 Td (The ) Tj ET Q q 0 0 0 rg BT 86.35 234.75 Td (marketability ) Tj ET Q q 0 0 0 rg BT 142.96 234.75 Td (of ) Tj ET Q q 0 0 0 rg BT 154.59 234.75 Td (our ) Tj ET Q q 0 0 0 rg BT 171.22 234.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 185.08 234.75 Td (and ) Tj ET Q q 0 0 0 rg BT 202.82 234.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 233.88 234.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 250.51 234.75 Td (production ) Tj ET Q q 0 0 0 rg BT 297.13 234.75 Td (depends, ) Tj ET Q q 0 0 0 rg BT 335.70 234.75 Td (in ) Tj ET Q q 0 0 0 rg BT 346.78 234.75 Td (part, ) Tj ET Q q 0 0 0 rg BT 368.13 234.75 Td (upon ) Tj ET Q q 0 0 0 rg BT 391.43 234.75 Td (the ) Tj ET Q q 0 0 0 rg BT 406.94 234.75 Td (availability) Tj ET Q q 0 0 0 rg BT 451.28 234.75 Td (, ) Tj ET Q q 0 0 0 rg BT 457.08 234.75 Td (proximity ) Tj ET Q q 0 0 0 rg BT 499.82 234.75 Td (and ) Tj ET Q q 0 0 0 rg BT 517.56 234.75 Td (capacity ) Tj ET Q q 0 0 0 rg BT 554.17 234.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.75 Td (transportation ) Tj ET Q q 0 0 0 rg BT 107.88 222.75 Td (lines ) Tj ET Q q 0 0 0 rg BT 129.61 222.75 Td (owned ) Tj ET Q q 0 0 0 rg BT 159.10 222.75 Td (by ) Tj ET Q q 0 0 0 rg BT 171.94 222.75 Td (third ) Tj ET Q q 0 0 0 rg BT 193.67 222.75 Td (parties. ) Tj ET Q q 0 0 0 rg BT 225.66 222.75 Td ( ) Tj ET Q q 0 0 0 rg BT 228.50 222.75 Td (In ) Tj ET Q q 0 0 0 rg BT 239.67 222.75 Td (general, ) Tj ET Q q 0 0 0 rg BT 274.43 222.75 Td (we ) Tj ET Q q 0 0 0 rg BT 288.93 222.75 Td (do ) Tj ET Q q 0 0 0 rg BT 301.77 222.75 Td (not ) Tj ET Q q 0 0 0 rg BT 317.38 222.75 Td (control ) Tj ET Q q 0 0 0 rg BT 348.55 222.75 Td (these ) Tj ET Q q 0 0 0 rg BT 371.93 222.75 Td (transportation ) Tj ET Q q 0 0 0 rg BT 430.31 222.75 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 470.08 222.75 Td (and ) Tj ET Q q 0 0 0 rg BT 487.36 222.75 Td (our ) Tj ET Q q 0 0 0 rg BT 503.53 222.75 Td (access ) Tj ET Q q 0 0 0 rg BT 531.90 222.75 Td (to ) Tj ET Q q 0 0 0 rg BT 542.52 222.75 Td (them ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.75 Td (may ) Tj ET Q q 0 0 0 rg BT 68.54 210.75 Td (be ) Tj ET Q q 0 0 0 rg BT 79.80 210.75 Td (limited ) Tj ET Q q 0 0 0 rg BT 109.95 210.75 Td (or ) Tj ET Q q 0 0 0 rg BT 120.10 210.75 Td (denied. ) Tj ET Q q 0 0 0 rg BT 151.08 210.75 Td ( ) Tj ET Q q 0 0 0 rg BT 152.50 210.75 Td (A) Tj ET Q q 0 0 0 rg BT 159.17 210.75 Td ( ) Tj ET Q q 0 0 0 rg BT 160.99 210.75 Td (significant ) Tj ET Q q 0 0 0 rg BT 205.02 210.75 Td (disruption ) Tj ET Q q 0 0 0 rg BT 247.40 210.75 Td (in ) Tj ET Q q 0 0 0 rg BT 257.00 210.75 Td (the ) Tj ET Q q 0 0 0 rg BT 271.04 210.75 Td (availability ) Tj ET Q q 0 0 0 rg BT 317.84 210.75 Td (of, ) Tj ET Q q 0 0 0 rg BT 330.49 210.75 Td (and ) Tj ET Q q 0 0 0 rg BT 346.75 210.75 Td (access ) Tj ET Q q 0 0 0 rg BT 374.11 210.75 Td (to, ) Tj ET Q q 0 0 0 rg BT 386.21 210.75 Td (these ) Tj ET Q q 0 0 0 rg BT 408.58 210.75 Td (transportation ) Tj ET Q q 0 0 0 rg BT 465.94 210.75 Td (lines ) Tj ET Q q 0 0 0 rg BT 486.65 210.75 Td (or ) Tj ET Q q 0 0 0 rg BT 496.80 210.75 Td (other ) Tj ET Q q 0 0 0 rg BT 519.17 210.75 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.75 Td (facilities ) Tj ET Q q 0 0 0 rg BT 86.34 198.75 Td (could ) Tj ET Q q 0 0 0 rg BT 110.96 198.75 Td (adversely ) Tj ET Q q 0 0 0 rg BT 151.69 198.75 Td (impact ) Tj ET Q q 0 0 0 rg BT 181.31 198.75 Td (our ) Tj ET Q q 0 0 0 rg BT 197.05 198.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 225.01 198.75 Td (to ) Tj ET Q q 0 0 0 rg BT 235.19 198.75 Td (deliver ) Tj ET Q q 0 0 0 rg BT 265.37 198.75 Td (to ) Tj ET Q q 0 0 0 rg BT 275.55 198.75 Td (market ) Tj ET Q q 0 0 0 rg BT 305.73 198.75 Td (or ) Tj ET Q q 0 0 0 rg BT 316.46 198.75 Td (produce ) Tj ET Q q 0 0 0 rg BT 351.08 198.75 Td (our ) Tj ET Q q 0 0 0 rg BT 366.82 198.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 379.78 198.75 Td (and ) Tj ET Q q 0 0 0 rg BT 396.63 198.75 Td (thereby ) Tj ET Q q 0 0 0 rg BT 429.03 198.75 Td (cause ) Tj ET Q q 0 0 0 rg BT 453.64 198.75 Td (a ) Tj ET Q q 0 0 0 rg BT 460.49 198.75 Td (significant ) Tj ET Q q 0 0 0 rg BT 505.11 198.75 Td (interruption ) Tj ET Q q 0 0 0 rg BT 554.73 198.75 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.75 Td (our ) Tj ET Q q 0 0 0 rg BT 65.33 186.75 Td (operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 162.75 Td (Our) Tj ET Q q 0 0 0 rg BT 67.10 162.75 Td ( ) Tj ET Q q 0 0 0 rg BT 69.60 162.75 Td (pr) Tj ET Q q 0 0 0 rg BT 79.42 162.75 Td (oduction ) Tj ET Q q 0 0 0 rg BT 119.15 162.75 Td (will ) Tj ET Q q 0 0 0 rg BT 137.21 162.75 Td (decline ) Tj ET Q q 0 0 0 rg BT 169.70 162.75 Td (if ) Tj ET Q q 0 0 0 rg BT 178.31 162.75 Td (our) Tj ET Q q 0 0 0 rg BT 193.13 162.75 Td ( ) Tj ET Q q 0 0 0 rg BT 195.63 162.75 Td (access ) Tj ET Q q 0 0 0 rg BT 224.23 162.75 Td (to ) Tj ET Q q 0 0 0 rg BT 235.06 162.75 Td (sufficient ) Tj ET Q q 0 0 0 rg BT 277.00 162.75 Td (amounts ) Tj ET Q q 0 0 0 rg BT 316.17 162.75 Td (of ) Tj ET Q q 0 0 0 rg BT 327.00 162.75 Td (carbon ) Tj ET Q q 0 0 0 rg BT 359.50 162.75 Td (dioxide ) Tj ET Q q 0 0 0 rg BT 393.12 162.75 Td (is ) Tj ET Q q 0 0 0 rg BT 402.29 162.75 Td (limited.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 138.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 84.72 138.75 Td (long-term ) Tj ET Q q 0 0 0 rg BT 125.83 138.75 Td (strategy ) Tj ET Q q 0 0 0 rg BT 159.15 138.75 Td (is ) Tj ET Q q 0 0 0 rg BT 167.50 138.75 Td (primarily ) Tj ET Q q 0 0 0 rg BT 206.38 138.75 Td (focused ) Tj ET Q q 0 0 0 rg BT 239.15 138.75 Td (on ) Tj ET Q q 0 0 0 rg BT 250.82 138.75 Td (our ) Tj ET Q q 0 0 0 rg BT 265.82 138.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 279.71 137.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.96 138.75 Td ( ) Tj ET Q q 0 0 0 rg BT 284.63 138.75 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 315.18 138.75 Td (recovery ) Tj ET Q q 0 0 0 rg BT 351.83 138.75 Td (operations. ) Tj ET Q q 0 0 0 rg BT 397.65 138.75 Td ( ) Tj ET Q q 0 0 0 rg BT 399.20 138.75 Td (The ) Tj ET Q q 0 0 0 rg BT 416.42 138.75 Td (crude ) Tj ET Q q 0 0 0 rg BT 440.30 138.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 452.53 138.75 Td (production ) Tj ET Q q 0 0 0 rg BT 497.52 138.75 Td (from ) Tj ET Q q 0 0 0 rg BT 518.63 138.75 Td (our ) Tj ET Q q 0 0 0 rg BT 533.63 138.75 Td (tertiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.75 Td (recovery ) Tj ET Q q 0 0 0 rg BT 88.20 126.75 Td (projects ) Tj ET Q q 0 0 0 rg BT 123.59 126.75 Td (depends, ) Tj ET Q q 0 0 0 rg BT 162.58 126.75 Td (in ) Tj ET Q q 0 0 0 rg BT 174.09 126.75 Td (lar) Tj ET Q q 0 0 0 rg BT 184.46 126.75 Td (ge ) Tj ET Q q 0 0 0 rg BT 197.62 126.75 Td (part, ) Tj ET Q q 0 0 0 rg BT 219.40 126.75 Td (on ) Tj ET Q q 0 0 0 rg BT 233.13 126.75 Td (having ) Tj ET Q q 0 0 0 rg BT 264.07 126.75 Td (access ) Tj ET Q q 0 0 0 rg BT 293.34 126.75 Td (to ) Tj ET Q q 0 0 0 rg BT 304.84 126.75 Td (suf) Tj ET Q q 0 0 0 rg BT 316.88 126.75 Td (ficient ) Tj ET Q q 0 0 0 rg BT 346.15 126.75 Td (amounts ) Tj ET Q q 0 0 0 rg BT 383.77 126.75 Td (of ) Tj ET Q q 0 0 0 rg BT 395.83 126.75 Td (naturally ) Tj ET Q q 0 0 0 rg BT 435.10 126.75 Td (occurring ) Tj ET Q q 0 0 0 rg BT 477.14 126.75 Td (and ) Tj ET Q q 0 0 0 rg BT 495.31 126.75 Td (industrial-source ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 113.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.64 114.75 Td (.��Our ) Tj ET Q q 0 0 0 rg BT 91.55 114.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 118.95 114.75 Td (to ) Tj ET Q q 0 0 0 rg BT 128.58 114.75 Td (produce ) Tj ET Q q 0 0 0 rg BT 162.64 114.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 175.05 114.75 Td (from ) Tj ET Q q 0 0 0 rg BT 196.34 114.75 Td (these ) Tj ET Q q 0 0 0 rg BT 218.74 114.75 Td (projects ) Tj ET Q q 0 0 0 rg BT 252.25 114.75 Td (would ) Tj ET Q q 0 0 0 rg BT 279.10 114.75 Td (be ) Tj ET Q q 0 0 0 rg BT 290.40 114.75 Td (hindered ) Tj ET Q q 0 0 0 rg BT 327.23 114.75 Td (if ) Tj ET Q q 0 0 0 rg BT 335.20 114.75 Td (our ) Tj ET Q q 0 0 0 rg BT 350.38 114.75 Td (supply ) Tj ET Q q 0 0 0 rg BT 378.90 114.75 Td (of ) Tj ET Q q 0 0 0 rg BT 389.08 114.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 402.98 113.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.23 114.75 Td ( ) Tj ET Q q 0 0 0 rg BT 408.08 114.75 Td (was ) Tj ET Q q 0 0 0 rg BT 425.48 114.75 Td (limited ) Tj ET Q q 0 0 0 rg BT 455.67 114.75 Td (due ) Tj ET Q q 0 0 0 rg BT 471.96 114.75 Td (to, ) Tj ET Q q 0 0 0 rg BT 484.09 114.75 Td (among ) Tj ET Q q 0 0 0 rg BT 513.16 114.75 Td (other ) Tj ET Q q 0 0 0 rg BT 535.56 114.75 Td (things, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.75 Td (problems ) Tj ET Q q 0 0 0 rg BT 89.26 102.75 Td (with ) Tj ET Q q 0 0 0 rg BT 109.59 102.75 Td (our ) Tj ET Q q 0 0 0 rg BT 125.47 102.75 Td (current ) Tj ET Q q 0 0 0 rg BT 156.33 102.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 170.22 101.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.47 102.75 Td ( ) Tj ET Q q 0 0 0 rg BT 176.02 102.75 Td (producing ) Tj ET Q q 0 0 0 rg BT 219.12 102.75 Td (wells ) Tj ET Q q 0 0 0 rg BT 242.77 102.75 Td (and ) Tj ET Q q 0 0 0 rg BT 259.76 102.75 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 299.23 102.75 Td (including ) Tj ET Q q 0 0 0 rg BT 339.56 102.75 Td (compression ) Tj ET Q q 0 0 0 rg BT 392.65 102.75 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 439.91 102.75 Td (catastrophic ) Tj ET Q q 0 0 0 rg BT 490.77 102.75 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 525.53 102.75 Td (failure ) Tj ET Q q 0 0 0 rg BT 554.17 102.75 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 90.75 Td (our ) Tj ET Q q 0 0 0 rg BT 66.23 90.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 95.18 90.75 Td (to ) Tj ET Q q 0 0 0 rg BT 106.36 90.75 Td (economically ) Tj ET Q q 0 0 0 rg BT 163.63 90.75 Td (purchase ) Tj ET Q q 0 0 0 rg BT 202.56 90.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 216.46 89.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.71 90.75 Td ( ) Tj ET Q q 0 0 0 rg BT 223.10 90.75 Td (from ) Tj ET Q q 0 0 0 rg BT 245.94 90.75 Td (industrial ) Tj ET Q q 0 0 0 rg BT 287.12 90.75 Td (sources.��) Tj ET Q q 0 0 0 rg BT 324.43 90.75 Td (This ) Tj ET Q q 0 0 0 rg BT 345.60 90.75 Td (could ) Tj ET Q q 0 0 0 rg BT 371.22 90.75 Td (have ) Tj ET Q q 0 0 0 rg BT 393.50 90.75 Td (a ) Tj ET Q q 0 0 0 rg BT 401.34 90.75 Td (material ) Tj ET Q q 0 0 0 rg BT 437.50 90.75 Td (adverse ) Tj ET Q q 0 0 0 rg BT 471.43 90.75 Td (ef) Tj ET Q q 0 0 0 rg BT 479.02 90.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 497.41 90.75 Td (on ) Tj ET Q q 0 0 0 rg BT 510.81 90.75 Td (our ) Tj ET Q q 0 0 0 rg BT 527.54 90.75 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.75 Td (condition, ) Tj ET Q q 0 0 0 rg BT 91.17 78.75 Td (results ) Tj ET Q q 0 0 0 rg BT 118.67 78.75 Td (of ) Tj ET Q q 0 0 0 rg BT 128.39 78.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 171.44 78.75 Td (and ) Tj ET Q q 0 0 0 rg BT 187.28 78.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 206.44 78.75 Td (flows. ) Tj ET Q q 0 0 0 rg BT 232.55 78.75 Td ( ) Tj ET Q q 0 0 0 rg BT 233.95 78.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 250.89 78.75 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 296.16 78.75 Td (future ) Tj ET Q q 0 0 0 rg BT 321.43 78.75 Td (crude ) Tj ET Q q 0 0 0 rg BT 345.03 78.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 356.98 78.75 Td (production ) Tj ET Q q 0 0 0 rg BT 401.70 78.75 Td (from ) Tj ET Q q 0 0 0 rg BT 422.53 78.75 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 452.80 78.75 Td (operations ) Tj ET Q q 0 0 0 rg BT 495.85 78.75 Td (is ) Tj ET Q q 0 0 0 rg BT 503.91 78.75 Td (also ) Tj ET Q q 0 0 0 rg BT 521.41 78.75 Td (dependent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.75 Td (on ) Tj ET Q q 0 0 0 rg BT 62.25 66.75 Td (the ) Tj ET Q q 0 0 0 rg BT 77.22 66.75 Td (timing, ) Tj ET Q q 0 0 0 rg BT 108.58 66.75 Td (volumes ) Tj ET Q q 0 0 0 rg BT 145.22 66.75 Td (and ) Tj ET Q q 0 0 0 rg BT 162.41 66.75 Td (location ) Tj ET Q q 0 0 0 rg BT 197.37 66.75 Td (of ) Tj ET Q q 0 0 0 rg BT 208.45 66.75 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 222.34 65.32 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.59 66.75 Td ( ) Tj ET Q q 0 0 0 rg BT 228.34 66.75 Td (injections ) Tj ET Q q 0 0 0 rg BT 269.97 66.75 Td (and, ) Tj ET Q q 0 0 0 rg BT 289.66 66.75 Td (in ) Tj ET Q q 0 0 0 rg BT 300.19 66.75 Td (particular) Tj ET Q q 0 0 0 rg BT 338.10 66.75 Td (, ) Tj ET Q q 0 0 0 rg BT 343.35 66.75 Td (on ) Tj ET Q q 0 0 0 rg BT 356.10 66.75 Td (our ) Tj ET Q q 0 0 0 rg BT 372.18 66.75 Td (ability ) Tj ET Q q 0 0 0 rg BT 400.49 66.75 Td (to ) Tj ET Q q 0 0 0 rg BT 411.02 66.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 446.52 66.75 Td (our ) Tj ET Q q 0 0 0 rg BT 462.60 66.75 Td (combined ) Tj ET Q q 0 0 0 rg BT 504.78 66.75 Td (purchased ) Tj ET Q q 0 0 0 rg BT 548.07 66.75 Td (and ) Tj ET Q endstream endobj 63 0 obj <> endobj 64 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (A) Tj ET Q q 0 0 0 rg BT 56.17 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 58.17 606.60 Td (cyber) Tj ET Q q 0 0 0 rg BT 81.87 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 83.87 606.60 Td (incident ) Tj ET Q q 0 0 0 rg BT 120.32 606.60 Td (could ) Tj ET Q q 0 0 0 rg BT 145.66 606.60 Td (occur) Tj ET Q q 0 0 0 rg BT 169.36 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 171.36 606.60 Td (and ) Tj ET Q q 0 0 0 rg BT 189.49 606.60 Td (r) Tj ET Q q 0 0 0 rg BT 193.74 606.60 Td (esult ) Tj ET Q q 0 0 0 rg BT 215.75 606.60 Td (in ) Tj ET Q q 0 0 0 rg BT 226.09 606.60 Td (information ) Tj ET Q q 0 0 0 rg BT 279.20 606.60 Td (theft, ) Tj ET Q q 0 0 0 rg BT 303.69 606.60 Td (data ) Tj ET Q q 0 0 0 rg BT 324.58 606.60 Td (corruption, ) Tj ET Q q 0 0 0 rg BT 375.19 606.60 Td (operational ) Tj ET Q q 0 0 0 rg BT 426.08 606.60 Td (disruption, ) Tj ET Q q 0 0 0 rg BT 475.05 606.60 Td (and/or) Tj ET Q q 0 0 0 rg BT 503.21 606.60 Td ( ) Tj ET Q q 0 0 0 rg BT 505.21 606.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 544.44 606.60 Td (loss.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 582.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.42 582.60 Td (business ) Tj ET Q q 0 0 0 rg BT 121.69 582.60 Td (has ) Tj ET Q q 0 0 0 rg BT 137.39 582.60 Td (become ) Tj ET Q q 0 0 0 rg BT 170.86 582.60 Td (increasingly ) Tj ET Q q 0 0 0 rg BT 222.10 582.60 Td (dependent ) Tj ET Q q 0 0 0 rg BT 265.57 582.60 Td (on ) Tj ET Q q 0 0 0 rg BT 277.94 582.60 Td (digital ) Tj ET Q q 0 0 0 rg BT 305.86 582.60 Td (technologies ) Tj ET Q q 0 0 0 rg BT 358.78 582.60 Td (to ) Tj ET Q q 0 0 0 rg BT 368.93 582.60 Td (conduct ) Tj ET Q q 0 0 0 rg BT 402.95 582.60 Td (day-to-day ) Tj ET Q q 0 0 0 rg BT 448.64 582.60 Td (operations, ) Tj ET Q q 0 0 0 rg BT 495.17 582.60 Td (including ) Tj ET Q q 0 0 0 rg BT 535.31 582.60 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (of ) Tj ET Q q 0 0 0 rg BT 60.32 570.60 Td (our ) Tj ET Q q 0 0 0 rg BT 76.13 570.60 Td (exploration, ) Tj ET Q q 0 0 0 rg BT 126.66 570.60 Td (development ) Tj ET Q q 0 0 0 rg BT 180.80 570.60 Td (and ) Tj ET Q q 0 0 0 rg BT 197.73 570.60 Td (production ) Tj ET Q q 0 0 0 rg BT 243.54 570.60 Td (activities. ) Tj ET Q q 0 0 0 rg BT 284.62 570.60 Td ( ) Tj ET Q q 0 0 0 rg BT 286.93 570.60 Td (W) Tj ET Q q 0 0 0 rg BT 295.57 570.60 Td (e ) Tj ET Q q 0 0 0 rg BT 302.49 570.60 Td (depend ) Tj ET Q q 0 0 0 rg BT 333.86 570.60 Td (on ) Tj ET Q q 0 0 0 rg BT 346.34 570.60 Td (digital ) Tj ET Q q 0 0 0 rg BT 374.38 570.60 Td (technology) Tj ET Q q 0 0 0 rg BT 418.17 570.60 Td (, ) Tj ET Q q 0 0 0 rg BT 423.15 570.60 Td (among ) Tj ET Q q 0 0 0 rg BT 452.86 570.60 Td (other ) Tj ET Q q 0 0 0 rg BT 475.89 570.60 Td (things, ) Tj ET Q q 0 0 0 rg BT 505.32 570.60 Td (to ) Tj ET Q q 0 0 0 rg BT 515.59 570.60 Td (process ) Tj ET Q q 0 0 0 rg BT 548.07 570.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (record ) Tj ET Q q 0 0 0 rg BT 77.56 558.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 115.07 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 132.03 558.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 172.32 558.60 Td (data; ) Tj ET Q q 0 0 0 rg BT 194.28 558.60 Td (analyze ) Tj ET Q q 0 0 0 rg BT 227.33 558.60 Td (seismic ) Tj ET Q q 0 0 0 rg BT 259.85 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 276.81 558.60 Td (drilling ) Tj ET Q q 0 0 0 rg BT 308.78 558.60 Td (information; ) Tj ET Q q 0 0 0 rg BT 361.30 558.60 Td (monitor ) Tj ET Q q 0 0 0 rg BT 395.49 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 412.45 558.60 Td (control ) Tj ET Q q 0 0 0 rg BT 443.30 558.60 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 478.04 558.60 Td (and ) Tj ET Q q 0 0 0 rg BT 495.00 558.60 Td (plant ) Tj ET Q q 0 0 0 rg BT 517.52 558.60 Td (equipment; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.70 546.60 Td (process ) Tj ET Q q 0 0 0 rg BT 99.46 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 116.67 546.60 Td (store ) Tj ET Q q 0 0 0 rg BT 138.87 546.60 Td (personally ) Tj ET Q q 0 0 0 rg BT 183.29 546.60 Td (identifiable ) Tj ET Q q 0 0 0 rg BT 231.59 546.60 Td (information ) Tj ET Q q 0 0 0 rg BT 281.57 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 292.67 546.60 Td (our ) Tj ET Q q 0 0 0 rg BT 308.77 546.60 Td (employees ) Tj ET Q q 0 0 0 rg BT 354.29 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 371.50 546.60 Td (royalty ) Tj ET Q q 0 0 0 rg BT 402.59 546.60 Td (owners. ) Tj ET Q q 0 0 0 rg BT 436.74 546.60 Td ( ) Tj ET Q q 0 0 0 rg BT 439.50 546.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 457.82 546.60 Td (technologies, ) Tj ET Q q 0 0 0 rg BT 513.63 546.60 Td (systems ) Tj ET Q q 0 0 0 rg BT 548.07 546.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (networks ) Tj ET Q q 0 0 0 rg BT 88.02 534.60 Td (may ) Tj ET Q q 0 0 0 rg BT 107.10 534.60 Td (become ) Tj ET Q q 0 0 0 rg BT 140.06 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 154.13 534.60 Td (tar) Tj ET Q q 0 0 0 rg BT 164.50 534.60 Td (get ) Tj ET Q q 0 0 0 rg BT 178.58 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 188.77 534.60 Td (cyber ) Tj ET Q q 0 0 0 rg BT 212.84 534.60 Td (attacks ) Tj ET Q q 0 0 0 rg BT 242.47 534.60 Td (or ) Tj ET Q q 0 0 0 rg BT 252.66 534.60 Td (information ) Tj ET Q q 0 0 0 rg BT 301.73 534.60 Td (security ) Tj ET Q q 0 0 0 rg BT 335.25 534.60 Td (breaches ) Tj ET Q q 0 0 0 rg BT 372.09 534.60 Td (that ) Tj ET Q q 0 0 0 rg BT 388.94 534.60 Td (could ) Tj ET Q q 0 0 0 rg BT 413.02 534.60 Td (result ) Tj ET Q q 0 0 0 rg BT 437.10 534.60 Td (in ) Tj ET Q q 0 0 0 rg BT 446.74 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 460.82 534.60 Td (disruption ) Tj ET Q q 0 0 0 rg BT 503.24 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 513.43 534.60 Td (our ) Tj ET Q q 0 0 0 rg BT 528.62 534.60 Td (business ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 93.66 522.60 Td (and/or ) Tj ET Q q 0 0 0 rg BT 121.70 522.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 159.18 522.60 Td (loss.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 498.60 Td (Although ) Tj ET Q q 0 0 0 rg BT 107.45 498.60 Td (we ) Tj ET Q q 0 0 0 rg BT 121.27 498.60 Td (utilize ) Tj ET Q q 0 0 0 rg BT 148.43 498.60 Td (various ) Tj ET Q q 0 0 0 rg BT 180.04 498.60 Td (procedures ) Tj ET Q q 0 0 0 rg BT 226.07 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 242.68 498.60 Td (controls ) Tj ET Q q 0 0 0 rg BT 277.07 498.60 Td (to ) Tj ET Q q 0 0 0 rg BT 287.01 498.60 Td (monitor ) Tj ET Q q 0 0 0 rg BT 320.84 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 337.45 498.60 Td (protect ) Tj ET Q q 0 0 0 rg BT 367.38 498.60 Td (against ) Tj ET Q q 0 0 0 rg BT 397.88 498.60 Td (these ) Tj ET Q q 0 0 0 rg BT 420.59 498.60 Td (threats ) Tj ET Q q 0 0 0 rg BT 449.41 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 466.02 498.60 Td (to ) Tj ET Q q 0 0 0 rg BT 475.97 498.60 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 510.90 498.60 Td (our ) Tj ET Q q 0 0 0 rg BT 526.40 498.60 Td (exposure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (to ) Tj ET Q q 0 0 0 rg BT 59.71 486.60 Td (such ) Tj ET Q q 0 0 0 rg BT 80.47 486.60 Td (threats, ) Tj ET Q q 0 0 0 rg BT 112.06 486.60 Td (there ) Tj ET Q q 0 0 0 rg BT 134.48 486.60 Td (can ) Tj ET Q q 0 0 0 rg BT 150.78 486.60 Td (be ) Tj ET Q q 0 0 0 rg BT 162.65 486.60 Td (no ) Tj ET Q q 0 0 0 rg BT 175.09 486.60 Td (assurance ) Tj ET Q q 0 0 0 rg BT 216.38 486.60 Td (that ) Tj ET Q q 0 0 0 rg BT 233.81 486.60 Td (these ) Tj ET Q q 0 0 0 rg BT 256.79 486.60 Td (procedures ) Tj ET Q q 0 0 0 rg BT 303.09 486.60 Td (and ) Tj ET Q q 0 0 0 rg BT 319.96 486.60 Td (controls ) Tj ET Q q 0 0 0 rg BT 354.61 486.60 Td (will ) Tj ET Q q 0 0 0 rg BT 372.60 486.60 Td (be ) Tj ET Q q 0 0 0 rg BT 384.47 486.60 Td (suf) Tj ET Q q 0 0 0 rg BT 396.51 486.60 Td (ficient ) Tj ET Q q 0 0 0 rg BT 424.48 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 434.69 486.60 Td (preventing ) Tj ET Q q 0 0 0 rg BT 479.89 486.60 Td (security ) Tj ET Q q 0 0 0 rg BT 513.97 486.60 Td (threats ) Tj ET Q q 0 0 0 rg BT 543.06 486.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (materializing ) Tj ET Q q 0 0 0 rg BT 104.29 474.60 Td (and ) Tj ET Q q 0 0 0 rg BT 120.77 474.60 Td (causing ) Tj ET Q q 0 0 0 rg BT 153.35 474.60 Td (us ) Tj ET Q q 0 0 0 rg BT 164.28 474.60 Td (to ) Tj ET Q q 0 0 0 rg BT 174.10 474.60 Td (suf) Tj ET Q q 0 0 0 rg BT 186.14 474.60 Td (fer ) Tj ET Q q 0 0 0 rg BT 199.27 474.60 Td (such ) Tj ET Q q 0 0 0 rg BT 219.64 474.60 Td (losses ) Tj ET Q q 0 0 0 rg BT 245.57 474.60 Td (in ) Tj ET Q q 0 0 0 rg BT 255.39 474.60 Td (the ) Tj ET Q q 0 0 0 rg BT 269.64 474.60 Td (future.��) Tj ET Q q 0 0 0 rg BT 300.47 474.60 Td (As ) Tj ET Q q 0 0 0 rg BT 313.62 474.60 Td (cyber ) Tj ET Q q 0 0 0 rg BT 337.86 474.60 Td (threats ) Tj ET Q q 0 0 0 rg BT 366.56 474.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 403.03 474.60 Td (to ) Tj ET Q q 0 0 0 rg BT 412.84 474.60 Td (evolve, ) Tj ET Q q 0 0 0 rg BT 444.04 474.60 Td (we ) Tj ET Q q 0 0 0 rg BT 457.73 474.60 Td (may ) Tj ET Q q 0 0 0 rg BT 476.99 474.60 Td (be ) Tj ET Q q 0 0 0 rg BT 488.46 474.60 Td (required ) Tj ET Q q 0 0 0 rg BT 523.82 474.60 Td (to ) Tj ET Q q 0 0 0 rg BT 533.63 474.60 Td (expend ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 94.02 462.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 136.31 462.60 Td (resources ) Tj ET Q q 0 0 0 rg BT 176.38 462.60 Td (to ) Tj ET Q q 0 0 0 rg BT 186.46 462.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 223.20 462.60 Td (to ) Tj ET Q q 0 0 0 rg BT 233.29 462.60 Td (modify ) Tj ET Q q 0 0 0 rg BT 264.48 462.60 Td (or ) Tj ET Q q 0 0 0 rg BT 275.12 462.60 Td (enhance ) Tj ET Q q 0 0 0 rg BT 310.18 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 325.81 462.60 Td (procedures ) Tj ET Q q 0 0 0 rg BT 371.99 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 388.73 462.60 Td (controls ) Tj ET Q q 0 0 0 rg BT 423.25 462.60 Td (or ) Tj ET Q q 0 0 0 rg BT 433.89 462.60 Td (to ) Tj ET Q q 0 0 0 rg BT 443.98 462.60 Td (investigate ) Tj ET Q q 0 0 0 rg BT 489.60 462.60 Td (and ) Tj ET Q q 0 0 0 rg BT 506.35 462.60 Td (remediate ) Tj ET Q q 0 0 0 rg BT 548.07 462.60 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (cyber ) Tj ET Q q 0 0 0 rg BT 74.21 450.60 Td (vulnerabilities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 426.60 Td (W) Tj ET Q q 0 0 0 rg BT 58.95 426.60 Td (e ) Tj ET Q q 0 0 0 rg BT 66.70 426.60 Td (may ) Tj ET Q q 0 0 0 rg BT 88.34 426.60 Td (lose ) Tj ET Q q 0 0 0 rg BT 107.76 426.60 Td (key ) Tj ET Q q 0 0 0 rg BT 126.08 426.60 Td (executive ) Tj ET Q q 0 0 0 rg BT 168.81 426.60 Td (officers ) Tj ET Q q 0 0 0 rg BT 203.77 426.60 Td (or) Tj ET Q q 0 0 0 rg BT 213.03 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 216.34 426.60 Td (specialized ) Tj ET Q q 0 0 0 rg BT 265.76 426.60 Td (technical ) Tj ET Q q 0 0 0 rg BT 307.40 426.60 Td (employees, ) Tj ET Q q 0 0 0 rg BT 357.09 426.60 Td (which ) Tj ET Q q 0 0 0 rg BT 385.96 426.60 Td (could ) Tj ET Q q 0 0 0 rg BT 412.62 426.60 Td (endanger) Tj ET Q q 0 0 0 rg BT 452.43 426.60 Td ( ) Tj ET Q q 0 0 0 rg BT 455.75 426.60 Td (the ) Tj ET Q q 0 0 0 rg BT 472.39 426.60 Td (futur) Tj ET Q q 0 0 0 rg BT 494.43 426.60 Td (e ) Tj ET Q q 0 0 0 rg BT 502.18 426.60 Td (success ) Tj ET Q q 0 0 0 rg BT 536.05 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 547.69 426.60 Td (our) Tj ET Q q 0 0 0 rg BT 562.51 426.60 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 390.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 84.95 390.60 Td (success ) Tj ET Q q 0 0 0 rg BT 116.84 390.60 Td (depends ) Tj ET Q q 0 0 0 rg BT 151.51 390.60 Td (to ) Tj ET Q q 0 0 0 rg BT 161.19 390.60 Td (a ) Tj ET Q q 0 0 0 rg BT 167.52 390.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 211.64 390.60 Td (degree ) Tj ET Q q 0 0 0 rg BT 240.18 390.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 262.08 390.60 Td (the ) Tj ET Q q 0 0 0 rg BT 276.20 390.60 Td (continued ) Tj ET Q q 0 0 0 rg BT 317.53 390.60 Td (contributions ) Tj ET Q q 0 0 0 rg BT 372.20 390.60 Td (of ) Tj ET Q q 0 0 0 rg BT 382.43 390.60 Td (our ) Tj ET Q q 0 0 0 rg BT 397.66 390.60 Td (executive ) Tj ET Q q 0 0 0 rg BT 437.87 390.60 Td (of) Tj ET Q q 0 0 0 rg BT 446.02 390.60 Td (ficers, ) Tj ET Q q 0 0 0 rg BT 472.63 390.60 Td (other ) Tj ET Q q 0 0 0 rg BT 495.07 390.60 Td (key ) Tj ET Q q 0 0 0 rg BT 511.41 390.60 Td (management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 67.44 378.60 Td (specialized ) Tj ET Q q 0 0 0 rg BT 115.37 378.60 Td (technical ) Tj ET Q q 0 0 0 rg BT 154.96 378.60 Td (personnel. ) Tj ET Q q 0 0 0 rg BT 199.84 378.60 Td ( ) Tj ET Q q 0 0 0 rg BT 203.35 378.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 222.40 378.60 Td (employees, ) Tj ET Q q 0 0 0 rg BT 271.17 378.60 Td (including ) Tj ET Q q 0 0 0 rg BT 312.45 378.60 Td (our ) Tj ET Q q 0 0 0 rg BT 329.29 378.60 Td (executive ) Tj ET Q q 0 0 0 rg BT 371.10 378.60 Td (of) Tj ET Q q 0 0 0 rg BT 379.25 378.60 Td (ficers, ) Tj ET Q q 0 0 0 rg BT 407.46 378.60 Td (are ) Tj ET Q q 0 0 0 rg BT 423.17 378.60 Td (employed ) Tj ET Q q 0 0 0 rg BT 466.11 378.60 Td (at ) Tj ET Q q 0 0 0 rg BT 476.83 378.60 Td (will ) Tj ET Q q 0 0 0 rg BT 495.90 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 513.84 378.60 Td (do ) Tj ET Q q 0 0 0 rg BT 527.34 378.60 Td (not ) Tj ET Q q 0 0 0 rg BT 543.63 378.60 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (employment ) Tj ET Q q 0 0 0 rg BT 101.32 366.60 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 151.18 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 152.88 366.60 Td (W) Tj ET Q q 0 0 0 rg BT 161.52 366.60 Td (e ) Tj ET Q q 0 0 0 rg BT 167.79 366.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 198.49 366.60 Td (that ) Tj ET Q q 0 0 0 rg BT 215.32 366.60 Td (our ) Tj ET Q q 0 0 0 rg BT 230.48 366.60 Td (future ) Tj ET Q q 0 0 0 rg BT 256.19 366.60 Td (success ) Tj ET Q q 0 0 0 rg BT 288.01 366.60 Td (depends, ) Tj ET Q q 0 0 0 rg BT 325.11 366.60 Td (in ) Tj ET Q q 0 0 0 rg BT 334.72 366.60 Td (lar) Tj ET Q q 0 0 0 rg BT 345.09 366.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 356.35 366.60 Td (part, ) Tj ET Q q 0 0 0 rg BT 376.23 366.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 398.06 366.60 Td (our ) Tj ET Q q 0 0 0 rg BT 413.23 366.60 Td (ability ) Tj ET Q q 0 0 0 rg BT 440.61 366.60 Td (to ) Tj ET Q q 0 0 0 rg BT 450.22 366.60 Td (hire ) Tj ET Q q 0 0 0 rg BT 467.60 366.60 Td (and ) Tj ET Q q 0 0 0 rg BT 483.86 366.60 Td (retain ) Tj ET Q q 0 0 0 rg BT 508.46 366.60 Td (highly ) Tj ET Q q 0 0 0 rg BT 535.85 366.60 Td (skilled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (personnel.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (Envir) Tj ET Q q 0 0 0 rg BT 73.77 330.60 Td (onmental ) Tj ET Q q 0 0 0 rg BT 116.27 330.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 137.66 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 156.28 330.60 Td (r) Tj ET Q q 0 0 0 rg BT 160.54 330.60 Td (egulations ) Tj ET Q q 0 0 0 rg BT 206.38 330.60 Td (ar) Tj ET Q q 0 0 0 rg BT 215.64 330.60 Td (e ) Tj ET Q q 0 0 0 rg BT 222.58 330.60 Td (costly ) Tj ET Q q 0 0 0 rg BT 249.51 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 268.14 330.60 Td (stringent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 306.60 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.35 306.60 Td (exploration, ) Tj ET Q q 0 0 0 rg BT 135.69 306.60 Td (production, ) Tj ET Q q 0 0 0 rg BT 183.81 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 200.55 306.60 Td (marketing ) Tj ET Q q 0 0 0 rg BT 243.39 306.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 287.34 306.60 Td (are ) Tj ET Q q 0 0 0 rg BT 301.84 306.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 332.47 306.60 Td (to ) Tj ET Q q 0 0 0 rg BT 342.54 306.60 Td (complex ) Tj ET Q q 0 0 0 rg BT 379.27 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 396.01 306.60 Td (stringent ) Tj ET Q q 0 0 0 rg BT 433.30 306.60 Td (federal, ) Tj ET Q q 0 0 0 rg BT 465.85 306.60 Td (state, ) Tj ET Q q 0 0 0 rg BT 488.97 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 505.71 306.60 Td (local ) Tj ET Q q 0 0 0 rg BT 527.44 306.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 548.07 306.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 95.86 294.60 Td (governing, ) Tj ET Q q 0 0 0 rg BT 140.84 294.60 Td (among ) Tj ET Q q 0 0 0 rg BT 169.98 294.60 Td (other ) Tj ET Q q 0 0 0 rg BT 192.46 294.60 Td (things, ) Tj ET Q q 0 0 0 rg BT 221.33 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 235.48 294.60 Td (dischar) Tj ET Q q 0 0 0 rg BT 264.17 294.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 275.54 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 285.80 294.60 Td (substances ) Tj ET Q q 0 0 0 rg BT 330.49 294.60 Td (into ) Tj ET Q q 0 0 0 rg BT 347.98 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 362.12 294.60 Td (environment ) Tj ET Q q 0 0 0 rg BT 414.59 294.60 Td (or ) Tj ET Q q 0 0 0 rg BT 424.85 294.60 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 465.65 294.60 Td (relating ) Tj ET Q q 0 0 0 rg BT 498.12 294.60 Td (to ) Tj ET Q q 0 0 0 rg BT 507.83 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 521.97 294.60 Td (protection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 60.60 282.60 Td (human ) Tj ET Q q 0 0 0 rg BT 90.58 282.60 Td (health ) Tj ET Q q 0 0 0 rg BT 117.78 282.60 Td (and ) Tj ET Q q 0 0 0 rg BT 134.98 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 149.96 282.60 Td (protection ) Tj ET Q q 0 0 0 rg BT 193.27 282.60 Td (of ) Tj ET Q q 0 0 0 rg BT 204.36 282.60 Td (endangered ) Tj ET Q q 0 0 0 rg BT 253.21 282.60 Td (species. ) Tj ET Q q 0 0 0 rg BT 287.35 282.60 Td ( ) Tj ET Q q 0 0 0 rg BT 289.92 282.60 Td (These ) Tj ET Q q 0 0 0 rg BT 316.56 282.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 337.66 282.60 Td (and ) Tj ET Q q 0 0 0 rg BT 354.86 282.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 402.06 282.60 Td (and ) Tj ET Q q 0 0 0 rg BT 419.26 282.60 Td (related ) Tj ET Q q 0 0 0 rg BT 449.23 282.60 Td (public ) Tj ET Q q 0 0 0 rg BT 476.99 282.60 Td (policy ) Tj ET Q q 0 0 0 rg BT 504.75 282.60 Td (considerations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (af) Tj ET Q q 0 0 0 rg BT 57.09 270.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 75.39 270.60 Td (the ) Tj ET Q q 0 0 0 rg BT 90.92 270.60 Td (costs, ) Tj ET Q q 0 0 0 rg BT 116.74 270.60 Td (manner) Tj ET Q q 0 0 0 rg BT 146.32 270.60 Td (, ) Tj ET Q q 0 0 0 rg BT 152.14 270.60 Td (and ) Tj ET Q q 0 0 0 rg BT 169.89 270.60 Td (feasibility ) Tj ET Q q 0 0 0 rg BT 213.20 270.60 Td (of ) Tj ET Q q 0 0 0 rg BT 224.84 270.60 Td (our ) Tj ET Q q 0 0 0 rg BT 241.49 270.60 Td (operations ) Tj ET Q q 0 0 0 rg BT 286.46 270.60 Td (and ) Tj ET Q q 0 0 0 rg BT 304.21 270.60 Td (require ) Tj ET Q q 0 0 0 rg BT 335.84 270.60 Td (us ) Tj ET Q q 0 0 0 rg BT 348.05 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 359.14 270.60 Td (make ) Tj ET Q q 0 0 0 rg BT 384.11 270.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 429.64 270.60 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 484.05 270.60 Td (in ) Tj ET Q q 0 0 0 rg BT 495.14 270.60 Td (order ) Tj ET Q q 0 0 0 rg BT 519.56 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 530.65 270.60 Td (comply) Tj ET Q q 0 0 0 rg BT 560.00 270.60 Td (. ) Tj ET Q q 0 0 0 rg BT 565.00 270.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (Failure ) Tj ET Q q 0 0 0 rg BT 79.99 258.60 Td (to ) Tj ET Q q 0 0 0 rg BT 89.94 258.60 Td (comply ) Tj ET Q q 0 0 0 rg BT 122.10 258.60 Td (with ) Tj ET Q q 0 0 0 rg BT 142.05 258.60 Td (these ) Tj ET Q q 0 0 0 rg BT 164.76 258.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 185.26 258.60 Td (and ) Tj ET Q q 0 0 0 rg BT 201.87 258.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 248.47 258.60 Td (may ) Tj ET Q q 0 0 0 rg BT 267.85 258.60 Td (result ) Tj ET Q q 0 0 0 rg BT 292.24 258.60 Td (in ) Tj ET Q q 0 0 0 rg BT 302.19 258.60 Td (the ) Tj ET Q q 0 0 0 rg BT 316.57 258.60 Td (assessment ) Tj ET Q q 0 0 0 rg BT 363.18 258.60 Td (of ) Tj ET Q q 0 0 0 rg BT 373.67 258.60 Td (administrative, ) Tj ET Q q 0 0 0 rg BT 435.55 258.60 Td (civil, ) Tj ET Q q 0 0 0 rg BT 457.99 258.60 Td (and ) Tj ET Q q 0 0 0 rg BT 474.60 258.60 Td (criminal ) Tj ET Q q 0 0 0 rg BT 510.09 258.60 Td (penalties, ) Tj ET Q q 0 0 0 rg BT 550.30 258.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.60 Td (imposition ) Tj ET Q q 0 0 0 rg BT 95.01 246.60 Td (of ) Tj ET Q q 0 0 0 rg BT 106.08 246.60 Td (investigatory ) Tj ET Q q 0 0 0 rg BT 161.02 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 178.19 246.60 Td (remedial ) Tj ET Q q 0 0 0 rg BT 215.90 246.60 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 265.57 246.60 Td (and ) Tj ET Q q 0 0 0 rg BT 282.74 246.60 Td (the ) Tj ET Q q 0 0 0 rg BT 297.69 246.60 Td (issuance ) Tj ET Q q 0 0 0 rg BT 334.30 246.60 Td (of ) Tj ET Q q 0 0 0 rg BT 345.36 246.60 Td (injunctions ) Tj ET Q q 0 0 0 rg BT 392.53 246.60 Td (that ) Tj ET Q q 0 0 0 rg BT 410.26 246.60 Td (could ) Tj ET Q q 0 0 0 rg BT 435.21 246.60 Td (limit ) Tj ET Q q 0 0 0 rg BT 456.83 246.60 Td (or ) Tj ET Q q 0 0 0 rg BT 467.89 246.60 Td (prohibit ) Tj ET Q q 0 0 0 rg BT 502.29 246.60 Td (our ) Tj ET Q q 0 0 0 rg BT 518.35 246.60 Td (operations. ) Tj ET Q q 0 0 0 rg BT 565.00 246.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (Some ) Tj ET Q q 0 0 0 rg BT 74.05 234.60 Td (of ) Tj ET Q q 0 0 0 rg BT 84.15 234.60 Td (these ) Tj ET Q q 0 0 0 rg BT 106.47 234.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 126.58 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 142.79 234.60 Td (regulations ) Tj ET Q q 0 0 0 rg BT 188.99 234.60 Td (may ) Tj ET Q q 0 0 0 rg BT 207.98 234.60 Td (impose ) Tj ET Q q 0 0 0 rg BT 238.64 234.60 Td (joint ) Tj ET Q q 0 0 0 rg BT 258.75 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 274.96 234.60 Td (several, ) Tj ET Q q 0 0 0 rg BT 307.55 234.60 Td (strict ) Tj ET Q q 0 0 0 rg BT 329.31 234.60 Td (liability ) Tj ET Q q 0 0 0 rg BT 362.20 234.60 Td (for ) Tj ET Q q 0 0 0 rg BT 375.63 234.60 Td (contamination ) Tj ET Q q 0 0 0 rg BT 434.61 234.60 Td (resulting ) Tj ET Q q 0 0 0 rg BT 471.38 234.60 Td (from ) Tj ET Q q 0 0 0 rg BT 492.59 234.60 Td (spills, ) Tj ET Q q 0 0 0 rg BT 517.98 234.60 Td (dischar) Tj ET Q q 0 0 0 rg BT 546.67 234.60 Td (ges, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 67.31 222.60 Td (releases ) Tj ET Q q 0 0 0 rg BT 102.32 222.60 Td (of ) Tj ET Q q 0 0 0 rg BT 114.02 222.60 Td (substances, ) Tj ET Q q 0 0 0 rg BT 162.66 222.60 Td (including ) Tj ET Q q 0 0 0 rg BT 203.80 222.60 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 247.71 222.60 Td (hydrocarbons ) Tj ET Q q 0 0 0 rg BT 305.51 222.60 Td (and ) Tj ET Q q 0 0 0 rg BT 323.32 222.60 Td (other ) Tj ET Q q 0 0 0 rg BT 347.23 222.60 Td (wastes, ) Tj ET Q q 0 0 0 rg BT 379.76 222.60 Td (without ) Tj ET Q q 0 0 0 rg BT 413.69 222.60 Td (regard ) Tj ET Q q 0 0 0 rg BT 442.60 222.60 Td (to ) Tj ET Q q 0 0 0 rg BT 453.74 222.60 Td (fault, ) Tj ET Q q 0 0 0 rg BT 477.94 222.60 Td (or ) Tj ET Q q 0 0 0 rg BT 489.64 222.60 Td (the ) Tj ET Q q 0 0 0 rg BT 505.22 222.60 Td (legality ) Tj ET Q q 0 0 0 rg BT 538.58 222.60 Td (of ) Tj ET Q q 0 0 0 rg BT 550.28 222.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.60 Td (original ) Tj ET Q q 0 0 0 rg BT 82.97 210.60 Td (conduct. ) Tj ET Q q 0 0 0 rg BT 119.49 210.60 Td ( ) Tj ET Q q 0 0 0 rg BT 121.86 210.60 Td (Under ) Tj ET Q q 0 0 0 rg BT 149.22 210.60 Td (such ) Tj ET Q q 0 0 0 rg BT 169.92 210.60 Td (laws ) Tj ET Q q 0 0 0 rg BT 190.61 210.60 Td (and ) Tj ET Q q 0 0 0 rg BT 207.42 210.60 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 256.72 210.60 Td (we ) Tj ET Q q 0 0 0 rg BT 270.75 210.60 Td (could ) Tj ET Q q 0 0 0 rg BT 295.33 210.60 Td (be ) Tj ET Q q 0 0 0 rg BT 307.14 210.60 Td (required ) Tj ET Q q 0 0 0 rg BT 342.82 210.60 Td (to ) Tj ET Q q 0 0 0 rg BT 352.96 210.60 Td (remove ) Tj ET Q q 0 0 0 rg BT 385.32 210.60 Td (or ) Tj ET Q q 0 0 0 rg BT 396.01 210.60 Td (remediate ) Tj ET Q q 0 0 0 rg BT 437.80 210.60 Td (previously ) Tj ET Q q 0 0 0 rg BT 482.38 210.60 Td (disposed ) Tj ET Q q 0 0 0 rg BT 519.75 210.60 Td (substances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 198.60 Td (property ) Tj ET Q q 0 0 0 rg BT 102.82 198.60 Td (contamination, ) Tj ET Q q 0 0 0 rg BT 165.02 198.60 Td (including ) Tj ET Q q 0 0 0 rg BT 205.30 198.60 Td (wastes ) Tj ET Q q 0 0 0 rg BT 234.46 198.60 Td (disposed ) Tj ET Q q 0 0 0 rg BT 271.96 198.60 Td (or ) Tj ET Q q 0 0 0 rg BT 282.79 198.60 Td (released ) Tj ET Q q 0 0 0 rg BT 318.04 198.60 Td (by ) Tj ET Q q 0 0 0 rg BT 330.54 198.60 Td (prior ) Tj ET Q q 0 0 0 rg BT 352.48 198.60 Td (owners ) Tj ET Q q 0 0 0 rg BT 383.86 198.60 Td (or ) Tj ET Q q 0 0 0 rg BT 394.69 198.60 Td (operators.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 174.60 Td (Enactment ) Tj ET Q q 0 0 0 rg BT 98.66 174.60 Td (of ) Tj ET Q q 0 0 0 rg BT 109.49 174.60 Td (executive, ) Tj ET Q q 0 0 0 rg BT 153.91 174.60 Td (legislative ) Tj ET Q q 0 0 0 rg BT 198.63 174.60 Td (or) Tj ET Q q 0 0 0 rg BT 207.88 174.60 Td ( ) Tj ET Q q 0 0 0 rg BT 210.38 174.60 Td (r) Tj ET Q q 0 0 0 rg BT 214.64 174.60 Td (egulatory ) Tj ET Q q 0 0 0 rg BT 257.69 174.60 Td (pr) Tj ET Q q 0 0 0 rg BT 267.51 174.60 Td (oposals ) Tj ET Q q 0 0 0 rg BT 301.13 174.60 Td (under) Tj ET Q q 0 0 0 rg BT 326.51 174.60 Td ( ) Tj ET Q q 0 0 0 rg BT 329.01 174.60 Td (consideration ) Tj ET Q q 0 0 0 rg BT 389.29 174.60 Td (could ) Tj ET Q q 0 0 0 rg BT 415.13 174.60 Td (negatively ) Tj ET Q q 0 0 0 rg BT 460.96 174.60 Td (affect ) Tj ET Q q 0 0 0 rg BT 487.32 174.60 Td (our) Tj ET Q q 0 0 0 rg BT 502.14 174.60 Td ( ) Tj ET Q q 0 0 0 rg BT 504.64 174.60 Td (business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 150.60 Td (While ) Tj ET Q q 0 0 0 rg BT 94.63 150.60 Td (it ) Tj ET Q q 0 0 0 rg BT 102.89 150.60 Td (is ) Tj ET Q q 0 0 0 rg BT 112.25 150.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 151.04 150.60 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 197.61 150.60 Td (that ) Tj ET Q q 0 0 0 rg BT 215.30 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 230.22 150.60 Td (President ) Tj ET Q q 0 0 0 rg BT 270.13 150.60 Td (will ) Tj ET Q q 0 0 0 rg BT 288.39 150.60 Td (attempt ) Tj ET Q q 0 0 0 rg BT 321.07 150.60 Td (to ) Tj ET Q q 0 0 0 rg BT 331.55 150.60 Td (move ) Tj ET Q q 0 0 0 rg BT 356.46 150.60 Td (away ) Tj ET Q q 0 0 0 rg BT 380.26 150.60 Td (from ) Tj ET Q q 0 0 0 rg BT 402.40 150.60 Td (the ) Tj ET Q q 0 0 0 rg BT 417.31 150.60 Td (trend ) Tj ET Q q 0 0 0 rg BT 440.56 150.60 Td (of ) Tj ET Q q 0 0 0 rg BT 451.58 150.60 Td (proposing ) Tj ET Q q 0 0 0 rg BT 494.28 150.60 Td (stricter ) Tj ET Q q 0 0 0 rg BT 524.74 150.60 Td (standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 66.87 138.60 Td (increasing ) Tj ET Q q 0 0 0 rg BT 110.89 138.60 Td (oversight ) Tj ET Q q 0 0 0 rg BT 151.04 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 168.41 138.60 Td (regulation ) Tj ET Q q 0 0 0 rg BT 211.89 138.60 Td (at ) Tj ET Q q 0 0 0 rg BT 222.03 138.60 Td (the ) Tj ET Q q 0 0 0 rg BT 237.18 138.60 Td (federal ) Tj ET Q q 0 0 0 rg BT 267.87 138.60 Td (level, ) Tj ET Q q 0 0 0 rg BT 292.73 138.60 Td (it ) Tj ET Q q 0 0 0 rg BT 301.22 138.60 Td (is ) Tj ET Q q 0 0 0 rg BT 310.82 138.60 Td (possible ) Tj ET Q q 0 0 0 rg BT 346.53 138.60 Td (that ) Tj ET Q q 0 0 0 rg BT 364.46 138.60 Td (other ) Tj ET Q q 0 0 0 rg BT 387.93 138.60 Td (proposals ) Tj ET Q q 0 0 0 rg BT 429.19 138.60 Td (af) Tj ET Q q 0 0 0 rg BT 436.78 138.60 Td (fecting ) Tj ET Q q 0 0 0 rg BT 467.48 138.60 Td (the ) Tj ET Q q 0 0 0 rg BT 482.63 138.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 496.11 138.60 Td (and ) Tj ET Q q 0 0 0 rg BT 513.48 138.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 529.74 138.60 Td (industry ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.60 Td (could ) Tj ET Q q 0 0 0 rg BT 74.96 126.60 Td (be ) Tj ET Q q 0 0 0 rg BT 87.65 126.60 Td (enacted ) Tj ET Q q 0 0 0 rg BT 121.43 126.60 Td (or ) Tj ET Q q 0 0 0 rg BT 133.00 126.60 Td (adopted ) Tj ET Q q 0 0 0 rg BT 167.90 126.60 Td (in ) Tj ET Q q 0 0 0 rg BT 178.93 126.60 Td (the ) Tj ET Q q 0 0 0 rg BT 194.39 126.60 Td (future, ) Tj ET Q q 0 0 0 rg BT 224.01 126.60 Td (including ) Tj ET Q q 0 0 0 rg BT 265.03 126.60 Td (state ) Tj ET Q q 0 0 0 rg BT 286.60 126.60 Td (or ) Tj ET Q q 0 0 0 rg BT 298.18 126.60 Td (local ) Tj ET Q q 0 0 0 rg BT 320.86 126.60 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 371.04 126.60 Td (any ) Tj ET Q q 0 0 0 rg BT 388.72 126.60 Td (of ) Tj ET Q q 0 0 0 rg BT 400.30 126.60 Td (which ) Tj ET Q q 0 0 0 rg BT 427.99 126.60 Td (could ) Tj ET Q q 0 0 0 rg BT 453.45 126.60 Td (result ) Tj ET Q q 0 0 0 rg BT 478.91 126.60 Td (in ) Tj ET Q q 0 0 0 rg BT 489.94 126.60 Td (increased ) Tj ET Q q 0 0 0 rg BT 530.94 126.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 554.18 126.60 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 91.99 114.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 132.25 114.60 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 179.19 114.60 Td (that ) Tj ET Q q 0 0 0 rg BT 196.68 114.60 Td (could ) Tj ET Q q 0 0 0 rg BT 221.40 114.60 Td (have ) Tj ET Q q 0 0 0 rg BT 242.78 114.60 Td (an ) Tj ET Q q 0 0 0 rg BT 254.71 114.60 Td (ef) Tj ET Q q 0 0 0 rg BT 262.30 114.60 Td (fect ) Tj ET Q q 0 0 0 rg BT 279.79 114.60 Td (on ) Tj ET Q q 0 0 0 rg BT 292.29 114.60 Td (demand ) Tj ET Q q 0 0 0 rg BT 326.44 114.60 Td (for ) Tj ET Q q 0 0 0 rg BT 340.60 114.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 353.66 114.60 Td (and ) Tj ET Q q 0 0 0 rg BT 370.60 114.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 400.86 114.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 416.69 114.60 Td (or ) Tj ET Q q 0 0 0 rg BT 427.52 114.60 Td (prices ) Tj ET Q q 0 0 0 rg BT 453.90 114.60 Td (at ) Tj ET Q q 0 0 0 rg BT 463.62 114.60 Td (which ) Tj ET Q q 0 0 0 rg BT 490.55 114.60 Td (it ) Tj ET Q q 0 0 0 rg BT 498.61 114.60 Td (can ) Tj ET Q q 0 0 0 rg BT 514.99 114.60 Td (be ) Tj ET Q q 0 0 0 rg BT 526.93 114.60 Td (sold.) Tj ET Q endstream endobj 65 0 obj <> endobj 66 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (32) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 726.75 Td (The ) Tj ET Q q 0 0 0 rg BT 68.67 726.75 Td (loss ) Tj ET Q q 0 0 0 rg BT 86.73 726.75 Td (of ) Tj ET Q q 0 0 0 rg BT 97.56 726.75 Td (one ) Tj ET Q q 0 0 0 rg BT 115.06 726.75 Td (or) Tj ET Q q 0 0 0 rg BT 124.32 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 126.82 726.75 Td (mor) Tj ET Q q 0 0 0 rg BT 144.41 726.75 Td (e ) Tj ET Q q 0 0 0 rg BT 151.35 726.75 Td (of ) Tj ET Q q 0 0 0 rg BT 162.18 726.75 Td (our) Tj ET Q q 0 0 0 rg BT 177.00 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 179.50 726.75 Td (large ) Tj ET Q q 0 0 0 rg BT 203.65 726.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 216.71 726.75 Td (and ) Tj ET Q q 0 0 0 rg BT 235.33 726.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 269.50 726.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 285.89 726.75 Td (pur) Tj ET Q q 0 0 0 rg BT 301.27 726.75 Td (chasers ) Tj ET Q q 0 0 0 rg BT 335.43 726.75 Td (could ) Tj ET Q q 0 0 0 rg BT 361.27 726.75 Td (have ) Tj ET Q q 0 0 0 rg BT 383.77 726.75 Td (an ) Tj ET Q q 0 0 0 rg BT 396.83 726.75 Td (adverse ) Tj ET Q q 0 0 0 rg BT 432.10 726.75 Td (effect ) Tj ET Q q 0 0 0 rg BT 457.91 726.75 Td (on ) Tj ET Q q 0 0 0 rg BT 470.97 726.75 Td (our) Tj ET Q q 0 0 0 rg BT 485.79 726.75 Td ( ) Tj ET Q q 0 0 0 rg BT 488.29 726.75 Td (operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 702.75 Td (For ) Tj ET Q q 0 0 0 rg BT 84.34 702.75 Td (the ) Tj ET Q q 0 0 0 rg BT 99.50 702.75 Td (year ) Tj ET Q q 0 0 0 rg BT 119.66 702.75 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 146.48 702.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 205.51 702.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.51 702.75 Td (, ) Tj ET Q q 0 0 0 rg BT 230.96 702.75 Td (two ) Tj ET Q q 0 0 0 rg BT 248.90 702.75 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 294.61 702.75 Td (individually ) Tj ET Q q 0 0 0 rg BT 345.89 702.75 Td (accounted ) Tj ET Q q 0 0 0 rg BT 389.37 702.75 Td (for ) Tj ET Q q 0 0 0 rg BT 403.97 702.75 Td (10% ) Tj ET Q q 0 0 0 rg BT 425.25 702.75 Td (or ) Tj ET Q q 0 0 0 rg BT 436.53 702.75 Td (more ) Tj ET Q q 0 0 0 rg BT 460.02 702.75 Td (of ) Tj ET Q q 0 0 0 rg BT 471.30 702.75 Td (our ) Tj ET Q q 0 0 0 rg BT 487.57 702.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 501.08 702.75 Td (and ) Tj ET Q q 0 0 0 rg BT 518.46 702.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 549.17 702.75 Td (gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.75 Td (revenues ) Tj ET Q q 0 0 0 rg BT 87.51 690.75 Td (and, ) Tj ET Q q 0 0 0 rg BT 106.92 690.75 Td (in ) Tj ET Q q 0 0 0 rg BT 117.16 690.75 Td (the ) Tj ET Q q 0 0 0 rg BT 131.85 690.75 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 175.68 690.75 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.81 690.75 Td (34%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.14 690.75 Td ( ) Tj ET Q q 0 0 0 rg BT 210.61 690.75 Td (of ) Tj ET Q q 0 0 0 rg BT 221.41 690.75 Td (such ) Tj ET Q q 0 0 0 rg BT 242.21 690.75 Td (revenues.��) Tj ET Q q 0 0 0 rg BT 285.07 690.75 Td (The ) Tj ET Q q 0 0 0 rg BT 303.08 690.75 Td (loss ) Tj ET Q q 0 0 0 rg BT 321.12 690.75 Td (of ) Tj ET Q q 0 0 0 rg BT 331.92 690.75 Td (a ) Tj ET Q q 0 0 0 rg BT 338.82 690.75 Td (lar) Tj ET Q q 0 0 0 rg BT 349.19 690.75 Td (ge ) Tj ET Q q 0 0 0 rg BT 361.10 690.75 Td (single ) Tj ET Q q 0 0 0 rg BT 387.45 690.75 Td (purchaser ) Tj ET Q q 0 0 0 rg BT 428.79 690.75 Td (could ) Tj ET Q q 0 0 0 rg BT 453.48 690.75 Td (adversely ) Tj ET Q q 0 0 0 rg BT 494.26 690.75 Td (impact ) Tj ET Q q 0 0 0 rg BT 523.94 690.75 Td (the ) Tj ET Q q 0 0 0 rg BT 538.63 690.75 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.75 Td (we ) Tj ET Q q 0 0 0 rg BT 63.66 678.75 Td (receive ) Tj ET Q q 0 0 0 rg BT 95.02 678.75 Td (or ) Tj ET Q q 0 0 0 rg BT 105.85 678.75 Td (the ) Tj ET Q q 0 0 0 rg BT 120.57 678.75 Td (transportation ) Tj ET Q q 0 0 0 rg BT 178.61 678.75 Td (costs ) Tj ET Q q 0 0 0 rg BT 201.11 678.75 Td (we ) Tj ET Q q 0 0 0 rg BT 215.27 678.75 Td (incur) Tj ET Q q 0 0 0 rg BT 235.27 678.75 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 654.75 Td (If ) Tj ET Q q 0 0 0 rg BT 59.29 654.75 Td (commodity ) Tj ET Q q 0 0 0 rg BT 109.62 654.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 137.73 654.75 Td (decline ) Tj ET Q q 0 0 0 rg BT 170.29 654.75 Td (appr) Tj ET Q q 0 0 0 rg BT 190.67 654.75 Td (eciably) Tj ET Q q 0 0 0 rg BT 220.11 654.75 Td (, ) Tj ET Q q 0 0 0 rg BT 225.17 654.75 Td (we ) Tj ET Q q 0 0 0 rg BT 239.40 654.75 Td (may ) Tj ET Q q 0 0 0 rg BT 260.29 654.75 Td (be ) Tj ET Q q 0 0 0 rg BT 272.85 654.75 Td (r) Tj ET Q q 0 0 0 rg BT 277.11 654.75 Td (equir) Tj ET Q q 0 0 0 rg BT 299.71 654.75 Td (ed ) Tj ET Q q 0 0 0 rg BT 312.27 654.75 Td (to ) Tj ET Q q 0 0 0 rg BT 323.17 654.75 Td (write ) Tj ET Q q 0 0 0 rg BT 347.94 654.75 Td (down ) Tj ET Q q 0 0 0 rg BT 373.85 654.75 Td (the ) Tj ET Q q 0 0 0 rg BT 389.74 654.75 Td (carrying ) Tj ET Q q 0 0 0 rg BT 428.96 654.75 Td (value ) Tj ET Q q 0 0 0 rg BT 454.30 654.75 Td (of ) Tj ET Q q 0 0 0 rg BT 465.19 654.75 Td (our) Tj ET Q q 0 0 0 rg BT 480.01 654.75 Td ( ) Tj ET Q q 0 0 0 rg BT 482.58 654.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 495.70 654.75 Td (and ) Tj ET Q q 0 0 0 rg BT 514.38 654.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 548.62 654.75 Td (gas ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 642.75 Td (pr) Tj ET Q q 0 0 0 rg BT 59.32 642.75 Td (operties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 618.75 Td (Under ) Tj ET Q q 0 0 0 rg BT 94.60 618.75 Td (full ) Tj ET Q q 0 0 0 rg BT 110.60 618.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 128.83 618.75 Td (accounting ) Tj ET Q q 0 0 0 rg BT 174.81 618.75 Td (rules ) Tj ET Q q 0 0 0 rg BT 196.36 618.75 Td (related ) Tj ET Q q 0 0 0 rg BT 225.68 618.75 Td (to ) Tj ET Q q 0 0 0 rg BT 235.57 618.75 Td (our ) Tj ET Q q 0 0 0 rg BT 251.01 618.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 263.68 618.75 Td (and ) Tj ET Q q 0 0 0 rg BT 280.23 618.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 310.11 618.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 325.55 618.75 Td (properties, ) Tj ET Q q 0 0 0 rg BT 370.15 618.75 Td (we ) Tj ET Q q 0 0 0 rg BT 383.93 618.75 Td (are ) Tj ET Q q 0 0 0 rg BT 398.25 618.75 Td (required ) Tj ET Q q 0 0 0 rg BT 433.68 618.75 Td (each ) Tj ET Q q 0 0 0 rg BT 454.10 618.75 Td (quarter ) Tj ET Q q 0 0 0 rg BT 484.53 618.75 Td (to ) Tj ET Q q 0 0 0 rg BT 494.42 618.75 Td (perform ) Tj ET Q q 0 0 0 rg BT 528.75 618.75 Td (a ) Tj ET Q q 0 0 0 rg BT 535.30 618.75 Td (ceiling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.75 Td (test ) Tj ET Q q 0 0 0 rg BT 65.82 606.75 Td (calculation, ) Tj ET Q q 0 0 0 rg BT 114.61 606.75 Td (with ) Tj ET Q q 0 0 0 rg BT 134.82 606.75 Td (the ) Tj ET Q q 0 0 0 rg BT 149.47 606.75 Td (net ) Tj ET Q q 0 0 0 rg BT 164.11 606.75 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 209.85 606.75 Td (costs ) Tj ET Q q 0 0 0 rg BT 232.28 606.75 Td (of ) Tj ET Q q 0 0 0 rg BT 243.04 606.75 Td (our ) Tj ET Q q 0 0 0 rg BT 258.79 606.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 271.78 606.75 Td (and ) Tj ET Q q 0 0 0 rg BT 288.65 606.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 318.84 606.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 334.60 606.75 Td (properties ) Tj ET Q q 0 0 0 rg BT 377.01 606.75 Td (limited ) Tj ET Q q 0 0 0 rg BT 407.77 606.75 Td (to ) Tj ET Q q 0 0 0 rg BT 417.98 606.75 Td (the ) Tj ET Q q 0 0 0 rg BT 432.63 606.75 Td (lower ) Tj ET Q q 0 0 0 rg BT 457.83 606.75 Td (of ) Tj ET Q q 0 0 0 rg BT 468.58 606.75 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 520.99 606.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 539.53 606.75 Td (or ) Tj ET Q q 0 0 0 rg BT 550.29 606.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 68.38 594.75 Td (center ) Tj ET Q q 0 0 0 rg BT 95.57 594.75 Td (ceiling. ) Tj ET Q q 0 0 0 rg BT 128.05 594.75 Td ( ) Tj ET Q q 0 0 0 rg BT 130.61 594.75 Td (The ) Tj ET Q q 0 0 0 rg BT 148.93 594.75 Td (present ) Tj ET Q q 0 0 0 rg BT 180.57 594.75 Td (value ) Tj ET Q q 0 0 0 rg BT 205.00 594.75 Td (of ) Tj ET Q q 0 0 0 rg BT 216.09 594.75 Td (estimated ) Tj ET Q q 0 0 0 rg BT 257.18 594.75 Td (future ) Tj ET Q q 0 0 0 rg BT 283.83 594.75 Td (net ) Tj ET Q q 0 0 0 rg BT 298.81 594.75 Td (revenues ) Tj ET Q q 0 0 0 rg BT 337.12 594.75 Td (from ) Tj ET Q q 0 0 0 rg BT 359.32 594.75 Td (proved ) Tj ET Q q 0 0 0 rg BT 389.86 594.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 403.18 594.75 Td (and ) Tj ET Q q 0 0 0 rg BT 420.39 594.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 450.92 594.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 467.02 594.75 Td (reserves ) Tj ET Q q 0 0 0 rg BT 502.54 594.75 Td (included ) Tj ET Q q 0 0 0 rg BT 539.74 594.75 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 594.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 68.85 582.75 Td (center ) Tj ET Q q 0 0 0 rg BT 96.51 582.75 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 126.96 582.75 Td (is ) Tj ET Q q 0 0 0 rg BT 136.86 582.75 Td (based ) Tj ET Q q 0 0 0 rg BT 162.87 582.75 Td (on ) Tj ET Q q 0 0 0 rg BT 176.11 582.75 Td (the ) Tj ET Q q 0 0 0 rg BT 191.56 582.75 Td (average ) Tj ET Q q 0 0 0 rg BT 225.88 582.75 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 319.09 582.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 332.88 582.75 Td (and ) Tj ET Q q 0 0 0 rg BT 350.56 582.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 381.56 582.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 398.13 582.75 Td (price ) Tj ET Q q 0 0 0 rg BT 421.35 582.75 Td (for ) Tj ET Q q 0 0 0 rg BT 436.25 582.75 Td (each ) Tj ET Q q 0 0 0 rg BT 457.80 582.75 Td (month ) Tj ET Q q 0 0 0 rg BT 486.59 582.75 Td (during ) Tj ET Q q 0 0 0 rg BT 515.94 582.75 Td (a ) Tj ET Q q 0 0 0 rg BT 523.62 582.75 Td (12-month ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.75 Td (rolling ) Tj ET Q q 0 0 0 rg BT 78.63 570.75 Td (period ) Tj ET Q q 0 0 0 rg BT 106.65 570.75 Td (prior ) Tj ET Q q 0 0 0 rg BT 128.55 570.75 Td (to ) Tj ET Q q 0 0 0 rg BT 138.80 570.75 Td (the ) Tj ET Q q 0 0 0 rg BT 153.48 570.75 Td (end ) Tj ET Q q 0 0 0 rg BT 170.39 570.75 Td (of ) Tj ET Q q 0 0 0 rg BT 181.19 570.75 Td (a ) Tj ET Q q 0 0 0 rg BT 188.09 570.75 Td (particular ) Tj ET Q q 0 0 0 rg BT 228.87 570.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 267.99 570.75 Td (period. ) Tj ET Q q 0 0 0 rg BT 298.51 570.75 Td ( ) Tj ET Q q 0 0 0 rg BT 300.97 570.75 Td (During ) Tj ET Q q 0 0 0 rg BT 331.77 570.75 Td (2016, ) Tj ET Q q 0 0 0 rg BT 356.74 570.75 Td (we ) Tj ET Q q 0 0 0 rg BT 370.86 570.75 Td (recorded ) Tj ET Q q 0 0 0 rg BT 408.31 570.75 Td (a ) Tj ET Q q 0 0 0 rg BT 415.21 570.75 Td (full ) Tj ET Q q 0 0 0 rg BT 431.57 570.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 450.14 570.75 Td (pool ) Tj ET Q q 0 0 0 rg BT 470.39 570.75 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 500.07 570.75 Td (test ) Tj ET Q q 0 0 0 rg BT 516.42 570.75 Td (write-down ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.75 Td (of ) Tj ET Q q 0 0 0 rg BT 60.29 558.75 Td (our ) Tj ET Q q 0 0 0 rg BT 76.08 558.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 89.10 558.75 Td (and ) Tj ET Q q 0 0 0 rg BT 106.00 558.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 136.22 558.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 152.01 558.75 Td (properties ) Tj ET Q q 0 0 0 rg BT 194.46 558.75 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.47 558.75 Td ($810.9 ) Tj ET Q q 0 0 0 rg BT 257.43 558.75 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.33 558.75 Td ( ) Tj ET Q q 0 0 0 rg BT 288.79 558.75 Td (\($508.2 ) Tj ET Q q 0 0 0 rg BT 322.08 558.75 Td (million ) Tj ET Q q 0 0 0 rg BT 353.43 558.75 Td (net ) Tj ET Q q 0 0 0 rg BT 368.11 558.75 Td (of ) Tj ET Q q 0 0 0 rg BT 378.90 558.75 Td (tax\). ) Tj ET Q q 0 0 0 rg BT 399.41 558.75 Td ( ) Tj ET Q q 0 0 0 rg BT 401.69 558.75 Td (W) Tj ET Q q 0 0 0 rg BT 410.33 558.75 Td (e ) Tj ET Q q 0 0 0 rg BT 417.23 558.75 Td (did ) Tj ET Q q 0 0 0 rg BT 432.47 558.75 Td (not ) Tj ET Q q 0 0 0 rg BT 447.71 558.75 Td (record ) Tj ET Q q 0 0 0 rg BT 475.70 558.75 Td (any ) Tj ET Q q 0 0 0 rg BT 492.60 558.75 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 522.28 558.75 Td (test ) Tj ET Q q 0 0 0 rg BT 538.62 558.75 Td (write-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.75 Td (downs ) Tj ET Q q 0 0 0 rg BT 78.41 546.75 Td (during ) Tj ET Q q 0 0 0 rg BT 107.31 546.75 Td (2017 ) Tj ET Q q 0 0 0 rg BT 130.10 546.75 Td (or ) Tj ET Q q 0 0 0 rg BT 141.23 546.75 Td (2018. ) Tj ET Q q 0 0 0 rg BT 166.52 546.75 Td ( ) Tj ET Q q 0 0 0 rg BT 169.32 546.75 Td (Future ) Tj ET Q q 0 0 0 rg BT 198.22 546.75 Td (material ) Tj ET Q q 0 0 0 rg BT 233.77 546.75 Td (write-downs ) Tj ET Q q 0 0 0 rg BT 286.56 546.75 Td (of ) Tj ET Q q 0 0 0 rg BT 297.68 546.75 Td (our ) Tj ET Q q 0 0 0 rg BT 313.81 546.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 327.16 546.75 Td (and ) Tj ET Q q 0 0 0 rg BT 344.39 546.75 Td (natural ) Tj ET Q q 0 0 0 rg BT 374.95 546.75 Td (gas ) Tj ET Q q 0 0 0 rg BT 391.07 546.75 Td (properties, ) Tj ET Q q 0 0 0 rg BT 436.35 546.75 Td (as ) Tj ET Q q 0 0 0 rg BT 447.48 546.75 Td (well ) Tj ET Q q 0 0 0 rg BT 467.49 546.75 Td (as ) Tj ET Q q 0 0 0 rg BT 478.61 546.75 Td (future ) Tj ET Q q 0 0 0 rg BT 505.29 546.75 Td (impairment ) Tj ET Q q 0 0 0 rg BT 554.18 546.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.75 Td (other ) Tj ET Q q 0 0 0 rg BT 72.21 534.75 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 115.47 534.75 Td (assets, ) Tj ET Q q 0 0 0 rg BT 143.46 534.75 Td (could ) Tj ET Q q 0 0 0 rg BT 167.83 534.75 Td (significantly ) Tj ET Q q 0 0 0 rg BT 219.98 534.75 Td (reduce ) Tj ET Q q 0 0 0 rg BT 248.78 534.75 Td (earnings ) Tj ET Q q 0 0 0 rg BT 284.82 534.75 Td (during ) Tj ET Q q 0 0 0 rg BT 313.08 534.75 Td (the ) Tj ET Q q 0 0 0 rg BT 327.46 534.75 Td (period ) Tj ET Q q 0 0 0 rg BT 355.16 534.75 Td (in ) Tj ET Q q 0 0 0 rg BT 365.10 534.75 Td (which ) Tj ET Q q 0 0 0 rg BT 391.70 534.75 Td (such ) Tj ET Q q 0 0 0 rg BT 412.19 534.75 Td (write-down ) Tj ET Q q 0 0 0 rg BT 460.44 534.75 Td (and/or ) Tj ET Q q 0 0 0 rg BT 488.15 534.75 Td (impairment ) Tj ET Q q 0 0 0 rg BT 536.40 534.75 Td (occurs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.75 Td (and ) Tj ET Q q 0 0 0 rg BT 66.02 522.75 Td (would ) Tj ET Q q 0 0 0 rg BT 93.11 522.75 Td (result ) Tj ET Q q 0 0 0 rg BT 117.41 522.75 Td (in ) Tj ET Q q 0 0 0 rg BT 127.28 522.75 Td (a ) Tj ET Q q 0 0 0 rg BT 133.80 522.75 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 193.10 522.75 Td (reduction ) Tj ET Q q 0 0 0 rg BT 232.95 522.75 Td (to ) Tj ET Q q 0 0 0 rg BT 242.81 522.75 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 286.00 522.75 Td (assets ) Tj ET Q q 0 0 0 rg BT 311.42 522.75 Td (and ) Tj ET Q q 0 0 0 rg BT 327.94 522.75 Td (equity) Tj ET Q q 0 0 0 rg BT 352.29 522.75 Td (. ) Tj ET Q q 0 0 0 rg BT 356.88 522.75 Td ( ) Tj ET Q q 0 0 0 rg BT 358.96 522.75 Td (See ) Tj ET Q q 0 0 0 rg BT 375.49 522.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 395.90 522.75 Td (7, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 405.49 522.75 Td (Management�) Tj ET Q q 0 0 0 rg BT 459.73 522.75 Td (s ) Tj ET Q q 0 0 0 rg BT 465.71 522.75 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 511.69 522.75 Td (and ) Tj ET Q q 0 0 0 rg BT 528.63 522.75 Td (Analysis ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 59.78 510.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 101.16 510.75 Td (Condition ) Tj ET Q q 0 0 0 rg BT 143.67 510.75 Td (and ) Tj ET Q q 0 0 0 rg BT 161.17 510.75 Td (Results ) Tj ET Q q 0 0 0 rg BT 192.55 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 202.83 510.75 Td (Operations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 247.83 510.75 Td ( ) Tj ET Q q 0 0 0 rg BT 250.33 510.75 Td (� ) Tj ET Q q 0 0 0 rg BT 257.83 510.75 Td (Critical ) Tj ET Q q 0 0 0 rg BT 291.26 510.75 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 339.30 510.75 Td (Policies ) Tj ET Q q 0 0 0 rg BT 374.02 510.75 Td (and ) Tj ET Q q 0 0 0 rg BT 391.52 510.75 Td (Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.40 510.75 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 486.75 Td (Failur) Tj ET Q q 0 0 0 rg BT 75.98 486.75 Td (e ) Tj ET Q q 0 0 0 rg BT 82.29 486.75 Td (to ) Tj ET Q q 0 0 0 rg BT 92.48 486.75 Td (complete ) Tj ET Q q 0 0 0 rg BT 132.66 486.75 Td (the ) Tj ET Q q 0 0 0 rg BT 147.86 486.75 Td (pending ) Tj ET Q q 0 0 0 rg BT 184.18 486.75 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 232.73 486.75 Td (of ) Tj ET Q q 0 0 0 rg BT 242.92 486.75 Td (Penn ) Tj ET Q q 0 0 0 rg BT 266.32 486.75 Td (V) Tj ET Q q 0 0 0 rg BT 273.17 486.75 Td (irginia ) Tj ET Q q 0 0 0 rg BT 303.37 486.75 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 358.56 486.75 Td (could ) Tj ET Q q 0 0 0 rg BT 383.77 486.75 Td (negatively ) Tj ET Q q 0 0 0 rg BT 428.96 486.75 Td (impact ) Tj ET Q q 0 0 0 rg BT 460.26 486.75 Td (the ) Tj ET Q q 0 0 0 rg BT 475.46 486.75 Td (price ) Tj ET Q q 0 0 0 rg BT 498.97 486.75 Td (of ) Tj ET Q q 0 0 0 rg BT 509.17 486.75 Td (our) Tj ET Q q 0 0 0 rg BT 523.99 486.75 Td ( ) Tj ET Q q 0 0 0 rg BT 525.85 486.75 Td (common ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 474.75 Td (stock ) Tj ET Q q 0 0 0 rg BT 74.22 474.75 Td (and ) Tj ET Q q 0 0 0 rg BT 92.84 474.75 Td (our) Tj ET Q q 0 0 0 rg BT 107.66 474.75 Td ( ) Tj ET Q q 0 0 0 rg BT 110.16 474.75 Td (futur) Tj ET Q q 0 0 0 rg BT 132.21 474.75 Td (e ) Tj ET Q q 0 0 0 rg BT 139.14 474.75 Td (business ) Tj ET Q q 0 0 0 rg BT 177.22 474.75 Td (and ) Tj ET Q q 0 0 0 rg BT 195.84 474.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 235.57 474.75 Td (r) Tj ET Q q 0 0 0 rg BT 239.83 474.75 Td (esults.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 450.75 Td (Failure ) Tj ET Q q 0 0 0 rg BT 98.80 450.75 Td (to ) Tj ET Q q 0 0 0 rg BT 109.55 450.75 Td (consummate ) Tj ET Q q 0 0 0 rg BT 163.06 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 178.25 450.75 Td (Penn ) Tj ET Q q 0 0 0 rg BT 201.00 450.75 Td (V) Tj ET Q q 0 0 0 rg BT 207.62 450.75 Td (ir) Tj ET Q q 0 0 0 rg BT 213.55 450.75 Td (ginia ) Tj ET Q q 0 0 0 rg BT 236.52 450.75 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 283.37 450.75 Td (may ) Tj ET Q q 0 0 0 rg BT 303.56 450.75 Td (cause ) Tj ET Q q 0 0 0 rg BT 328.74 450.75 Td (negative ) Tj ET Q q 0 0 0 rg BT 365.58 450.75 Td (reactions ) Tj ET Q q 0 0 0 rg BT 404.65 450.75 Td (from ) Tj ET Q q 0 0 0 rg BT 427.06 450.75 Td (the ) Tj ET Q q 0 0 0 rg BT 442.24 450.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 480.20 450.75 Td (markets, ) Tj ET Q q 0 0 0 rg BT 517.32 450.75 Td (including ) Tj ET Q q 0 0 0 rg BT 558.07 450.75 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.75 Td (downturn ) Tj ET Q q 0 0 0 rg BT 89.47 438.75 Td (in ) Tj ET Q q 0 0 0 rg BT 98.88 438.75 Td (the ) Tj ET Q q 0 0 0 rg BT 112.73 438.75 Td (price ) Tj ET Q q 0 0 0 rg BT 134.35 438.75 Td (of ) Tj ET Q q 0 0 0 rg BT 144.32 438.75 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 182.09 438.75 Td (s ) Tj ET Q q 0 0 0 rg BT 187.62 438.75 Td (common ) Tj ET Q q 0 0 0 rg BT 224.25 438.75 Td (stock; ) Tj ET Q q 0 0 0 rg BT 249.77 438.75 Td (may ) Tj ET Q q 0 0 0 rg BT 268.62 438.75 Td (negatively ) Tj ET Q q 0 0 0 rg BT 311.91 438.75 Td (af) Tj ET Q q 0 0 0 rg BT 319.50 438.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 336.12 438.75 Td (the ) Tj ET Q q 0 0 0 rg BT 349.97 438.75 Td (manner ) Tj ET Q q 0 0 0 rg BT 381.59 438.75 Td (in ) Tj ET Q q 0 0 0 rg BT 391.00 438.75 Td (which ) Tj ET Q q 0 0 0 rg BT 417.08 438.75 Td (costumers, ) Tj ET Q q 0 0 0 rg BT 461.76 438.75 Td (lenders, ) Tj ET Q q 0 0 0 rg BT 494.77 438.75 Td (business ) Tj ET Q q 0 0 0 rg BT 530.30 438.75 Td (partners ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.75 Td (and ) Tj ET Q q 0 0 0 rg BT 66.05 426.75 Td (other ) Tj ET Q q 0 0 0 rg BT 88.70 426.75 Td (third ) Tj ET Q q 0 0 0 rg BT 109.69 426.75 Td (parties ) Tj ET Q q 0 0 0 rg BT 138.46 426.75 Td (perceive ) Tj ET Q q 0 0 0 rg BT 174.42 426.75 Td (Denbury; ) Tj ET Q q 0 0 0 rg BT 214.30 426.75 Td (and ) Tj ET Q q 0 0 0 rg BT 230.85 426.75 Td (may ) Tj ET Q q 0 0 0 rg BT 250.17 426.75 Td (lead ) Tj ET Q q 0 0 0 rg BT 268.93 426.75 Td (to ) Tj ET Q q 0 0 0 rg BT 278.82 426.75 Td (adverse ) Tj ET Q q 0 0 0 rg BT 311.46 426.75 Td (ef) Tj ET Q q 0 0 0 rg BT 319.05 426.75 Td (fects ) Tj ET Q q 0 0 0 rg BT 340.03 426.75 Td (on ) Tj ET Q q 0 0 0 rg BT 352.14 426.75 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 389.91 426.75 Td (s ) Tj ET Q q 0 0 0 rg BT 395.91 426.75 Td (business ) Tj ET Q q 0 0 0 rg BT 431.90 426.75 Td (and ) Tj ET Q q 0 0 0 rg BT 448.45 426.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 485.54 426.75 Td (results ) Tj ET Q q 0 0 0 rg BT 513.75 426.75 Td (from ) Tj ET Q q 0 0 0 rg BT 535.30 426.75 Td (having ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.75 Td (expended ) Tj ET Q q 0 0 0 rg BT 91.89 414.75 Td (time ) Tj ET Q q 0 0 0 rg BT 113.73 414.75 Td (and ) Tj ET Q q 0 0 0 rg BT 132.24 414.75 Td (resources ) Tj ET Q q 0 0 0 rg BT 174.08 414.75 Td (on ) Tj ET Q q 0 0 0 rg BT 188.15 414.75 Td (the ) Tj ET Q q 0 0 0 rg BT 204.44 414.75 Td (pending ) Tj ET Q q 0 0 0 rg BT 240.73 414.75 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 288.68 414.75 Td (rather ) Tj ET Q q 0 0 0 rg BT 316.07 414.75 Td (than ) Tj ET Q q 0 0 0 rg BT 337.36 414.75 Td (on ) Tj ET Q q 0 0 0 rg BT 351.43 414.75 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 389.20 414.75 Td (s ) Tj ET Q q 0 0 0 rg BT 397.16 414.75 Td (existing ) Tj ET Q q 0 0 0 rg BT 432.90 414.75 Td (businesses ) Tj ET Q q 0 0 0 rg BT 479.19 414.75 Td (and ) Tj ET Q q 0 0 0 rg BT 497.70 414.75 Td (pursuit ) Tj ET Q q 0 0 0 rg BT 529.55 414.75 Td (of ) Tj ET Q q 0 0 0 rg BT 541.96 414.75 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.75 Td (opportunities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 378.75 Td (Closing ) Tj ET Q q 0 0 0 rg BT 84.23 378.75 Td (of ) Tj ET Q q 0 0 0 rg BT 95.06 378.75 Td (the ) Tj ET Q q 0 0 0 rg BT 110.89 378.75 Td (pending ) Tj ET Q q 0 0 0 rg BT 147.85 378.75 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 197.03 378.75 Td (of ) Tj ET Q q 0 0 0 rg BT 207.86 378.75 Td (Penn ) Tj ET Q q 0 0 0 rg BT 231.85 378.75 Td (V) Tj ET Q q 0 0 0 rg BT 238.70 378.75 Td (irginia ) Tj ET Q q 0 0 0 rg BT 269.54 378.75 Td (would ) Tj ET Q q 0 0 0 rg BT 298.16 378.75 Td (pr) Tj ET Q q 0 0 0 rg BT 307.98 378.75 Td (esent ) Tj ET Q q 0 0 0 rg BT 332.14 378.75 Td (a ) Tj ET Q q 0 0 0 rg BT 339.64 378.75 Td (variety ) Tj ET Q q 0 0 0 rg BT 372.13 378.75 Td (of ) Tj ET Q q 0 0 0 rg BT 382.96 378.75 Td (possible ) Tj ET Q q 0 0 0 rg BT 419.36 378.75 Td (business ) Tj ET Q q 0 0 0 rg BT 457.43 378.75 Td (challenges ) Tj ET Q q 0 0 0 rg BT 503.82 378.75 Td (to ) Tj ET Q q 0 0 0 rg BT 514.65 378.75 Td (Denbury) Tj ET Q q 0 0 0 rg BT 551.88 378.75 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 354.75 Td (In ) Tj ET Q q 0 0 0 rg BT 78.13 354.75 Td (addition ) Tj ET Q q 0 0 0 rg BT 113.20 354.75 Td (to ) Tj ET Q q 0 0 0 rg BT 123.27 354.75 Td (the ) Tj ET Q q 0 0 0 rg BT 137.79 354.75 Td (possible ) Tj ET Q q 0 0 0 rg BT 172.86 354.75 Td (negative ) Tj ET Q q 0 0 0 rg BT 209.03 354.75 Td (ef) Tj ET Q q 0 0 0 rg BT 216.62 354.75 Td (fect ) Tj ET Q q 0 0 0 rg BT 233.90 354.75 Td (on ) Tj ET Q q 0 0 0 rg BT 246.20 354.75 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 283.97 354.75 Td (s ) Tj ET Q q 0 0 0 rg BT 290.16 354.75 Td (common ) Tj ET Q q 0 0 0 rg BT 327.45 354.75 Td (stock ) Tj ET Q q 0 0 0 rg BT 350.86 354.75 Td (price ) Tj ET Q q 0 0 0 rg BT 373.14 354.75 Td (of ) Tj ET Q q 0 0 0 rg BT 383.77 354.75 Td (the ) Tj ET Q q 0 0 0 rg BT 398.28 354.75 Td (dilution ) Tj ET Q q 0 0 0 rg BT 431.69 354.75 Td (resulting ) Tj ET Q q 0 0 0 rg BT 468.98 354.75 Td (from ) Tj ET Q q 0 0 0 rg BT 490.72 354.75 Td (issuance ) Tj ET Q q 0 0 0 rg BT 526.89 354.75 Td (of ) Tj ET Q q 0 0 0 rg BT 537.52 354.75 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.75 Td (to ) Tj ET Q q 0 0 0 rg BT 59.81 342.75 Td (Penn ) Tj ET Q q 0 0 0 rg BT 82.17 342.75 Td (V) Tj ET Q q 0 0 0 rg BT 88.79 342.75 Td (ir) Tj ET Q q 0 0 0 rg BT 94.72 342.75 Td (ginia ) Tj ET Q q 0 0 0 rg BT 117.25 342.75 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 170.32 342.75 Td (and ) Tj ET Q q 0 0 0 rg BT 187.30 342.75 Td (the ) Tj ET Q q 0 0 0 rg BT 202.05 342.75 Td (higher ) Tj ET Q q 0 0 0 rg BT 230.13 342.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 249.89 342.75 Td (levels ) Tj ET Q q 0 0 0 rg BT 275.75 342.75 Td (used ) Tj ET Q q 0 0 0 rg BT 296.62 342.75 Td (to ) Tj ET Q q 0 0 0 rg BT 306.93 342.75 Td (finance ) Tj ET Q q 0 0 0 rg BT 338.89 342.75 Td (the ) Tj ET Q q 0 0 0 rg BT 353.65 342.75 Td (mer) Tj ET Q q 0 0 0 rg BT 369.01 342.75 Td (ger) Tj ET Q q 0 0 0 rg BT 381.38 342.75 Td (, ) Tj ET Q q 0 0 0 rg BT 386.42 342.75 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 423.94 342.75 Td (might ) Tj ET Q q 0 0 0 rg BT 449.81 342.75 Td (be ) Tj ET Q q 0 0 0 rg BT 461.79 342.75 Td (negatively ) Tj ET Q q 0 0 0 rg BT 505.98 342.75 Td (af) Tj ET Q q 0 0 0 rg BT 513.56 342.75 Td (fected ) Tj ET Q q 0 0 0 rg BT 540.53 342.75 Td (on ) Tj ET Q q 0 0 0 rg BT 553.06 342.75 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.75 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 84.94 330.75 Td (basis ) Tj ET Q q 0 0 0 rg BT 107.60 330.75 Td (by ) Tj ET Q q 0 0 0 rg BT 120.27 330.75 Td (the ) Tj ET Q q 0 0 0 rg BT 135.15 330.75 Td (attention ) Tj ET Q q 0 0 0 rg BT 172.80 330.75 Td (required ) Tj ET Q q 0 0 0 rg BT 208.78 330.75 Td (to ) Tj ET Q q 0 0 0 rg BT 219.22 330.75 Td (integrate ) Tj ET Q q 0 0 0 rg BT 256.86 330.75 Td (Penn ) Tj ET Q q 0 0 0 rg BT 279.33 330.75 Td (V) Tj ET Q q 0 0 0 rg BT 285.95 330.75 Td (ir) Tj ET Q q 0 0 0 rg BT 291.88 330.75 Td (ginia ) Tj ET Q q 0 0 0 rg BT 314.54 330.75 Td (and ) Tj ET Q q 0 0 0 rg BT 331.64 330.75 Td (its ) Tj ET Q q 0 0 0 rg BT 343.75 330.75 Td (assets. ) Tj ET Q q 0 0 0 rg BT 372.24 330.75 Td ( ) Tj ET Q q 0 0 0 rg BT 374.90 330.75 Td (Consummating ) Tj ET Q q 0 0 0 rg BT 438.68 330.75 Td (the ) Tj ET Q q 0 0 0 rg BT 453.56 330.75 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 500.10 330.75 Td (may ) Tj ET Q q 0 0 0 rg BT 519.98 330.75 Td (also ) Tj ET Q q 0 0 0 rg BT 538.75 330.75 Td (fail ) Tj ET Q q 0 0 0 rg BT 554.74 330.75 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.75 Td (be ) Tj ET Q q 0 0 0 rg BT 61.48 318.75 Td (as ) Tj ET Q q 0 0 0 rg BT 72.34 318.75 Td (accretive ) Tj ET Q q 0 0 0 rg BT 110.96 318.75 Td (as ) Tj ET Q q 0 0 0 rg BT 121.82 318.75 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 168.23 318.75 Td (by ) Tj ET Q q 0 0 0 rg BT 180.76 318.75 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 218.29 318.75 Td (and ) Tj ET Q q 0 0 0 rg BT 235.27 318.75 Td (carry ) Tj ET Q q 0 0 0 rg BT 258.34 318.75 Td (higher ) Tj ET Q q 0 0 0 rg BT 286.42 318.75 Td (costs ) Tj ET Q q 0 0 0 rg BT 308.96 318.75 Td (than ) Tj ET Q q 0 0 0 rg BT 328.71 318.75 Td (anticipated, ) Tj ET Q q 0 0 0 rg BT 377.62 318.75 Td (inclusive ) Tj ET Q q 0 0 0 rg BT 416.26 318.75 Td (of ) Tj ET Q q 0 0 0 rg BT 427.12 318.75 Td (the ) Tj ET Q q 0 0 0 rg BT 441.88 318.75 Td (employee ) Tj ET Q q 0 0 0 rg BT 483.29 318.75 Td (retention ) Tj ET Q q 0 0 0 rg BT 521.37 318.75 Td (costs, ) Tj ET Q q 0 0 0 rg BT 546.40 318.75 Td (fees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (paid ) Tj ET Q q 0 0 0 rg BT 69.12 306.75 Td (to ) Tj ET Q q 0 0 0 rg BT 79.29 306.75 Td (legal, ) Tj ET Q q 0 0 0 rg BT 103.63 306.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 141.00 306.75 Td (and ) Tj ET Q q 0 0 0 rg BT 157.84 306.75 Td (accounting ) Tj ET Q q 0 0 0 rg BT 204.11 306.75 Td (advisors ) Tj ET Q q 0 0 0 rg BT 239.84 306.75 Td (and ) Tj ET Q q 0 0 0 rg BT 256.68 306.75 Td (severance ) Tj ET Q q 0 0 0 rg BT 298.49 306.75 Td (benefits ) Tj ET Q q 0 0 0 rg BT 332.55 306.75 Td (and ) Tj ET Q q 0 0 0 rg BT 349.38 306.75 Td (costs. ) Tj ET Q q 0 0 0 rg BT 374.28 306.75 Td ( ) Tj ET Q q 0 0 0 rg BT 376.68 306.75 Td (Lastly) Tj ET Q q 0 0 0 rg BT 401.03 306.75 Td (, ) Tj ET Q q 0 0 0 rg BT 405.93 306.75 Td (the ) Tj ET Q q 0 0 0 rg BT 420.54 306.75 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 466.81 306.75 Td (syner) Tj ET Q q 0 0 0 rg BT 488.29 306.75 Td (gies ) Tj ET Q q 0 0 0 rg BT 506.80 306.75 Td (and ) Tj ET Q q 0 0 0 rg BT 523.63 306.75 Td (economic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.75 Td (benefits ) Tj ET Q q 0 0 0 rg BT 83.66 294.75 Td (from ) Tj ET Q q 0 0 0 rg BT 105.59 294.75 Td (the ) Tj ET Q q 0 0 0 rg BT 120.31 294.75 Td (transaction ) Tj ET Q q 0 0 0 rg BT 166.68 294.75 Td (may ) Tj ET Q q 0 0 0 rg BT 186.40 294.75 Td (not ) Tj ET Q q 0 0 0 rg BT 201.68 294.75 Td (be ) Tj ET Q q 0 0 0 rg BT 213.62 294.75 Td (realized.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 270.75 Td (The ) Tj ET Q q 0 0 0 rg BT 68.67 270.75 Td (combined ) Tj ET Q q 0 0 0 rg BT 112.84 270.75 Td (company ) Tj ET Q q 0 0 0 rg BT 154.23 270.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 175.62 270.75 Td (may ) Tj ET Q q 0 0 0 rg BT 196.45 270.75 Td (limit ) Tj ET Q q 0 0 0 rg BT 218.95 270.75 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 259.69 270.75 Td (s ) Tj ET Q q 0 0 0 rg BT 266.08 270.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 305.81 270.75 Td (flexibility) Tj ET Q q 0 0 0 rg BT 345.81 270.75 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 246.75 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 105.27 246.75 Td (s ) Tj ET Q q 0 0 0 rg BT 112.60 246.75 Td (approximate ) Tj ET Q q 0 0 0 rg BT 166.02 246.75 Td (total ) Tj ET Q q 0 0 0 rg BT 187.23 246.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 207.88 246.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.65 246.75 Td ($2.5 ) Tj ET Q q 0 0 0 rg BT 240.59 246.75 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.70 246.75 Td ( ) Tj ET Q q 0 0 0 rg BT 270.14 246.75 Td (at ) Tj ET Q q 0 0 0 rg BT 280.79 246.75 Td (December ) Tj ET Q q 0 0 0 rg BT 325.31 246.75 Td (31, ) Tj ET Q q 0 0 0 rg BT 341.25 246.75 Td (2018 ) Tj ET Q q 0 0 0 rg BT 364.69 246.75 Td (would ) Tj ET Q q 0 0 0 rg BT 393.13 246.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 429.32 246.75 Td (upon ) Tj ET Q q 0 0 0 rg BT 452.75 246.75 Td (consummation ) Tj ET Q q 0 0 0 rg BT 515.07 246.75 Td (of ) Tj ET Q q 0 0 0 rg BT 526.84 246.75 Td (the ) Tj ET Q q 0 0 0 rg BT 542.50 246.75 Td (Penn ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.75 Td (V) Tj ET Q q 0 0 0 rg BT 56.12 234.75 Td (ir) Tj ET Q q 0 0 0 rg BT 62.05 234.75 Td (ginia ) Tj ET Q q 0 0 0 rg BT 84.06 234.75 Td (acquisition. ) Tj ET Q q 0 0 0 rg BT 132.45 234.75 Td ( ) Tj ET Q q 0 0 0 rg BT 134.32 234.75 Td (This ) Tj ET Q q 0 0 0 rg BT 154.12 234.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 196.12 234.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 215.35 234.75 Td (may ) Tj ET Q q 0 0 0 rg BT 234.58 234.75 Td (carry ) Tj ET Q q 0 0 0 rg BT 257.13 234.75 Td (less ) Tj ET Q q 0 0 0 rg BT 274.15 234.75 Td (favorable ) Tj ET Q q 0 0 0 rg BT 313.92 234.75 Td (terms ) Tj ET Q q 0 0 0 rg BT 338.15 234.75 Td (than ) Tj ET Q q 0 0 0 rg BT 357.38 234.75 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 395.15 234.75 Td (s ) Tj ET Q q 0 0 0 rg BT 401.05 234.75 Td (current ) Tj ET Q q 0 0 0 rg BT 431.38 234.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 450.61 234.75 Td (and ) Tj ET Q q 0 0 0 rg BT 467.06 234.75 Td (may ) Tj ET Q q 0 0 0 rg BT 486.30 234.75 Td (bear ) Tj ET Q q 0 0 0 rg BT 505.52 234.75 Td (higher ) Tj ET Q q 0 0 0 rg BT 533.08 234.75 Td (interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.75 Td (rates; ) Tj ET Q q 0 0 0 rg BT 73.96 222.75 Td (impose ) Tj ET Q q 0 0 0 rg BT 105.64 222.75 Td (additional ) Tj ET Q q 0 0 0 rg BT 148.43 222.75 Td (cash ) Tj ET Q q 0 0 0 rg BT 169.00 222.75 Td (requirements ) Tj ET Q q 0 0 0 rg BT 224.00 222.75 Td (to ) Tj ET Q q 0 0 0 rg BT 234.58 222.75 Td (support ) Tj ET Q q 0 0 0 rg BT 267.38 222.75 Td (interest ) Tj ET Q q 0 0 0 rg BT 299.62 222.75 Td (payments ) Tj ET Q q 0 0 0 rg BT 340.74 222.75 Td (and ) Tj ET Q q 0 0 0 rg BT 357.98 222.75 Td (repay ) Tj ET Q q 0 0 0 rg BT 382.99 222.75 Td (the ) Tj ET Q q 0 0 0 rg BT 398.01 222.75 Td (debt ) Tj ET Q q 0 0 0 rg BT 418.02 222.75 Td (obligations; ) Tj ET Q q 0 0 0 rg BT 468.04 222.75 Td (and ) Tj ET Q q 0 0 0 rg BT 485.28 222.75 Td (increase ) Tj ET Q q 0 0 0 rg BT 520.84 222.75 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 558.61 222.75 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.75 Td (exposure ) Tj ET Q q 0 0 0 rg BT 88.10 210.75 Td (to ) Tj ET Q q 0 0 0 rg BT 98.38 210.75 Td (general ) Tj ET Q q 0 0 0 rg BT 130.30 210.75 Td (economic ) Tj ET Q q 0 0 0 rg BT 171.67 210.75 Td (downturns, ) Tj ET Q q 0 0 0 rg BT 218.89 210.75 Td (falling ) Tj ET Q q 0 0 0 rg BT 247.50 210.75 Td (oil ) Tj ET Q q 0 0 0 rg BT 260.55 210.75 Td (prices ) Tj ET Q q 0 0 0 rg BT 286.93 210.75 Td (and ) Tj ET Q q 0 0 0 rg BT 303.87 210.75 Td (rising ) Tj ET Q q 0 0 0 rg BT 329.15 210.75 Td (interest ) Tj ET Q q 0 0 0 rg BT 361.08 210.75 Td (rates.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 185.18505859375 m 210.96484375 185.18505859375 l s q 0 0 0 rg BT 49.50 186.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 71.99 186.75 Td (1B.��Unr) Tj ET Q q 0 0 0 rg BT 108.20 186.75 Td (esolved ) Tj ET Q q 0 0 0 rg BT 141.81 186.75 Td (Staff ) Tj ET Q q 0 0 0 rg BT 164.86 186.75 Td (Comments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 162.75 Td (There ) Tj ET Q q 0 0 0 rg BT 93.03 162.75 Td (are ) Tj ET Q q 0 0 0 rg BT 107.44 162.75 Td (no ) Tj ET Q q 0 0 0 rg BT 119.66 162.75 Td (unresolved ) Tj ET Q q 0 0 0 rg BT 165.74 162.75 Td (written ) Tj ET Q q 0 0 0 rg BT 196.28 162.75 Td (SEC ) Tj ET Q q 0 0 0 rg BT 216.83 162.75 Td (staf) Tj ET Q q 0 0 0 rg BT 231.09 162.75 Td (f ) Tj ET Q q 0 0 0 rg BT 236.63 162.75 Td (comments ) Tj ET Q q 0 0 0 rg BT 279.94 162.75 Td (regarding ) Tj ET Q q 0 0 0 rg BT 320.47 162.75 Td (our ) Tj ET Q q 0 0 0 rg BT 336.01 162.75 Td (periodic ) Tj ET Q q 0 0 0 rg BT 370.99 162.75 Td (or ) Tj ET Q q 0 0 0 rg BT 381.53 162.75 Td (current ) Tj ET Q q 0 0 0 rg BT 412.05 162.75 Td (reports ) Tj ET Q q 0 0 0 rg BT 442.03 162.75 Td (under ) Tj ET Q q 0 0 0 rg BT 467.01 162.75 Td (the ) Tj ET Q q 0 0 0 rg BT 481.44 162.75 Td (Securities ) Tj ET Q q 0 0 0 rg BT 523.08 162.75 Td (Exchange ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.75 Td (Act ) Tj ET Q q 0 0 0 rg BT 66.44 150.75 Td (of ) Tj ET Q q 0 0 0 rg BT 77.27 150.75 Td (1934 ) Tj ET Q q 0 0 0 rg BT 99.77 150.75 Td (received ) Tj ET Q q 0 0 0 rg BT 136.13 150.75 Td (180 ) Tj ET Q q 0 0 0 rg BT 153.63 150.75 Td (days ) Tj ET Q q 0 0 0 rg BT 174.46 150.75 Td (or ) Tj ET Q q 0 0 0 rg BT 185.29 150.75 Td (more ) Tj ET Q q 0 0 0 rg BT 208.34 150.75 Td (before ) Tj ET Q q 0 0 0 rg BT 236.38 150.75 Td (the ) Tj ET Q q 0 0 0 rg BT 251.09 150.75 Td (end ) Tj ET Q q 0 0 0 rg BT 268.03 150.75 Td (of ) Tj ET Q q 0 0 0 rg BT 278.86 150.75 Td (the ) Tj ET Q q 0 0 0 rg BT 293.58 150.75 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 317.73 150.75 Td (year ) Tj ET Q q 0 0 0 rg BT 337.44 150.75 Td (to ) Tj ET Q q 0 0 0 rg BT 347.72 150.75 Td (which ) Tj ET Q q 0 0 0 rg BT 374.66 150.75 Td (this ) Tj ET Q q 0 0 0 rg BT 391.60 150.75 Td (annual ) Tj ET Q q 0 0 0 rg BT 420.76 150.75 Td (report ) Tj ET Q q 0 0 0 rg BT 447.14 150.75 Td (on ) Tj ET Q q 0 0 0 rg BT 459.64 150.75 Td (Form ) Tj ET Q q 0 0 0 rg BT 483.81 150.75 Td (10-K ) Tj ET Q q 0 0 0 rg BT 506.86 150.75 Td (relates.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 125.18505859375 m 128.7333984375 125.18505859375 l s q 0 0 0 rg BT 49.50 126.75 Td (Item 2.��Pr) Tj ET Q q 0 0 0 rg BT 94.86 126.75 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 102.75 Td (Information ) Tj ET Q q 0 0 0 rg BT 117.85 102.75 Td (regarding ) Tj ET Q q 0 0 0 rg BT 158.75 102.75 Td (the ) Tj ET Q q 0 0 0 rg BT 173.54 102.75 Td (Company�) Tj ET Q q 0 0 0 rg BT 215.21 102.75 Td (s ) Tj ET Q q 0 0 0 rg BT 221.68 102.75 Td (properties ) Tj ET Q q 0 0 0 rg BT 264.25 102.75 Td (called ) Tj ET Q q 0 0 0 rg BT 290.71 102.75 Td (for ) Tj ET Q q 0 0 0 rg BT 304.95 102.75 Td (by ) Tj ET Q q 0 0 0 rg BT 317.53 102.75 Td (this ) Tj ET Q q 0 0 0 rg BT 334.57 102.75 Td (item ) Tj ET Q q 0 0 0 rg BT 354.92 102.75 Td (is ) Tj ET Q q 0 0 0 rg BT 364.17 102.75 Td (included ) Tj ET Q q 0 0 0 rg BT 401.19 102.75 Td (in ) Tj ET Q q 0 0 0 rg BT 411.55 102.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 432.46 102.75 Td (1) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 437.46 102.75 Td (, ) Tj ET Q q 0 0 0 rg BT 442.54 102.75 Td (Business ) Tj ET Q q 0 0 0 rg BT 480.13 102.75 Td (and ) Tj ET Q q 0 0 0 rg BT 497.71 102.75 Td (Pr) Tj ET Q q 0 0 0 rg BT 507.34 102.75 Td (operties ) Tj ET Q q 0 0 0 rg BT 542.14 102.75 Td (� ) Tj ET Q q 0 0 0 rg BT 549.72 102.75 Td (Oil ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 90.75 Td (and ) Tj ET Q q 0 0 0 rg BT 67.48 90.75 Td (Natural ) Tj ET Q q 0 0 0 rg BT 101.58 90.75 Td (Gas ) Tj ET Q q 0 0 0 rg BT 120.68 90.75 Td (Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 165.68 90.75 Td (.��) Tj ET Q q 0 0 0 rg BT 173.00 90.75 Td (W) Tj ET Q q 0 0 0 rg BT 181.64 90.75 Td (e ) Tj ET Q q 0 0 0 rg BT 189.06 90.75 Td (also ) Tj ET Q q 0 0 0 rg BT 208.15 90.75 Td (have ) Tj ET Q q 0 0 0 rg BT 230.01 90.75 Td (various ) Tj ET Q q 0 0 0 rg BT 262.43 90.75 Td (operating ) Tj ET Q q 0 0 0 rg BT 303.17 90.75 Td (leases ) Tj ET Q q 0 0 0 rg BT 330.03 90.75 Td (for ) Tj ET Q q 0 0 0 rg BT 344.68 90.75 Td (rental ) Tj ET Q q 0 0 0 rg BT 370.42 90.75 Td (of ) Tj ET Q q 0 0 0 rg BT 381.73 90.75 Td (of) Tj ET Q q 0 0 0 rg BT 389.88 90.75 Td (fice ) Tj ET Q q 0 0 0 rg BT 407.85 90.75 Td (space, ) Tj ET Q q 0 0 0 rg BT 435.54 90.75 Td (of) Tj ET Q q 0 0 0 rg BT 443.69 90.75 Td (fice ) Tj ET Q q 0 0 0 rg BT 461.66 90.75 Td (and ) Tj ET Q q 0 0 0 rg BT 479.08 90.75 Td (field ) Tj ET Q q 0 0 0 rg BT 500.39 90.75 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 548.08 90.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 78.75 Td (vehicles.��See ) Tj ET Q q 0 0 0 rg BT 105.61 78.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 125.35 78.75 Td (7, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 134.27 78.75 Td (Management�) Tj ET Q q 0 0 0 rg BT 188.51 78.75 Td (s ) Tj ET Q q 0 0 0 rg BT 193.82 78.75 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 239.12 78.75 Td (and ) Tj ET Q q 0 0 0 rg BT 255.43 78.75 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 290.73 78.75 Td (of ) Tj ET Q q 0 0 0 rg BT 299.92 78.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 340.22 78.75 Td (Condition ) Tj ET Q q 0 0 0 rg BT 381.63 78.75 Td (and ) Tj ET Q q 0 0 0 rg BT 398.05 78.75 Td (Results ) Tj ET Q q 0 0 0 rg BT 428.35 78.75 Td (of ) Tj ET Q q 0 0 0 rg BT 437.54 78.75 Td (Operations) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 482.54 78.75 Td ( ) Tj ET Q q 0 0 0 rg BT 483.95 78.75 Td (� ) Tj ET Q q 0 0 0 rg BT 490.36 78.75 Td (Capital ) Tj ET Q q 0 0 0 rg BT 521.78 78.75 Td (Resour) Tj ET Q q 0 0 0 rg BT 549.74 78.75 Td (ces ) Tj ET Q endstream endobj 67 0 obj <> endobj 68 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (33) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (and ) Tj ET Q q 0 0 0 rg BT 67.26 726.60 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 106.12 726.60 Td (� ) Tj ET Q q 0 0 0 rg BT 113.88 726.60 Td (Off-Balance ) Tj ET Q q 0 0 0 rg BT 165.51 726.60 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 189.72 726.60 Td (Arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.38 726.60 Td (, ) Tj ET Q q 0 0 0 rg BT 251.63 726.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.83 726.60 Td (Note ) Tj ET Q q 0 0 0 rg BT 291.02 726.60 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.02 726.60 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 306.28 726.60 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 364.03 726.60 Td (and ) Tj ET Q q 0 0 0 rg BT 381.79 726.60 Td (Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.00 726.60 Td (, ) Tj ET Q q 0 0 0 rg BT 444.25 726.60 Td (to ) Tj ET Q q 0 0 0 rg BT 454.79 726.60 Td (the ) Tj ET Q q 0 0 0 rg BT 469.76 726.60 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 525.29 726.60 Td (Financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (Statements ) Tj ET Q q 0 0 0 rg BT 95.88 714.60 Td (for ) Tj ET Q q 0 0 0 rg BT 110.04 714.60 Td (the ) Tj ET Q q 0 0 0 rg BT 124.76 714.60 Td (future ) Tj ET Q q 0 0 0 rg BT 151.14 714.60 Td (minimum ) Tj ET Q q 0 0 0 rg BT 192.53 714.60 Td (rental ) Tj ET Q q 0 0 0 rg BT 217.79 714.60 Td (payments.��Such ) Tj ET Q q 0 0 0 rg BT 286.12 714.60 Td (information ) Tj ET Q q 0 0 0 rg BT 335.83 714.60 Td (is ) Tj ET Q q 0 0 0 rg BT 345.00 714.60 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 398.03 714.60 Td (herein ) Tj ET Q q 0 0 0 rg BT 425.52 714.60 Td (by ) Tj ET Q q 0 0 0 rg BT 438.02 714.60 Td (reference.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 689.03505859375 m 162.3515625 689.03505859375 l s q 0 0 0 rg BT 49.50 690.60 Td (Item 3.��Legal Pr) Tj ET Q q 0 0 0 rg BT 121.24 690.60 Td (oceedings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 666.60 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 666.60 Td (e ) Tj ET Q q 0 0 0 rg BT 83.82 666.60 Td (are ) Tj ET Q q 0 0 0 rg BT 99.26 666.60 Td (involved ) Tj ET Q q 0 0 0 rg BT 137.50 666.60 Td (in ) Tj ET Q q 0 0 0 rg BT 148.52 666.60 Td (various ) Tj ET Q q 0 0 0 rg BT 181.19 666.60 Td (lawsuits, ) Tj ET Q q 0 0 0 rg BT 219.71 666.60 Td (claims ) Tj ET Q q 0 0 0 rg BT 249.06 666.60 Td (and ) Tj ET Q q 0 0 0 rg BT 266.73 666.60 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 311.07 666.60 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 362.62 666.60 Td (incidental ) Tj ET Q q 0 0 0 rg BT 405.29 666.60 Td (to ) Tj ET Q q 0 0 0 rg BT 416.31 666.60 Td (our ) Tj ET Q q 0 0 0 rg BT 432.88 666.60 Td (businesses. ) Tj ET Q q 0 0 0 rg BT 480.84 666.60 Td ( ) Tj ET Q q 0 0 0 rg BT 483.85 666.60 Td (While ) Tj ET Q q 0 0 0 rg BT 511.52 666.60 Td (we ) Tj ET Q q 0 0 0 rg BT 526.42 666.60 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (believe ) Tj ET Q q 0 0 0 rg BT 80.92 654.60 Td (that ) Tj ET Q q 0 0 0 rg BT 98.46 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 113.22 654.60 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 148.54 654.60 Td (outcome ) Tj ET Q q 0 0 0 rg BT 185.52 654.60 Td (of ) Tj ET Q q 0 0 0 rg BT 196.39 654.60 Td (these ) Tj ET Q q 0 0 0 rg BT 219.49 654.60 Td (proceedings, ) Tj ET Q q 0 0 0 rg BT 272.85 654.60 Td (individually ) Tj ET Q q 0 0 0 rg BT 323.73 654.60 Td (and ) Tj ET Q q 0 0 0 rg BT 340.71 654.60 Td (in ) Tj ET Q q 0 0 0 rg BT 351.04 654.60 Td (the ) Tj ET Q q 0 0 0 rg BT 365.80 654.60 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 409.71 654.60 Td (will ) Tj ET Q q 0 0 0 rg BT 427.81 654.60 Td (not ) Tj ET Q q 0 0 0 rg BT 443.14 654.60 Td (have ) Tj ET Q q 0 0 0 rg BT 464.56 654.60 Td (a ) Tj ET Q q 0 0 0 rg BT 471.54 654.60 Td (material ) Tj ET Q q 0 0 0 rg BT 506.85 654.60 Td (adverse ) Tj ET Q q 0 0 0 rg BT 539.93 654.60 Td (ef) Tj ET Q q 0 0 0 rg BT 547.52 654.60 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (on ) Tj ET Q q 0 0 0 rg BT 62.26 642.60 Td (our ) Tj ET Q q 0 0 0 rg BT 78.36 642.60 Td (business ) Tj ET Q q 0 0 0 rg BT 115.01 642.60 Td (or ) Tj ET Q q 0 0 0 rg BT 126.11 642.60 Td (finances, ) Tj ET Q q 0 0 0 rg BT 164.69 642.60 Td (litigation ) Tj ET Q q 0 0 0 rg BT 203.56 642.60 Td (is ) Tj ET Q q 0 0 0 rg BT 212.99 642.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 244.08 642.60 Td (to ) Tj ET Q q 0 0 0 rg BT 254.62 642.60 Td (inherent ) Tj ET Q q 0 0 0 rg BT 290.15 642.60 Td (uncertainties. ) Tj ET Q q 0 0 0 rg BT 346.50 642.60 Td ( ) Tj ET Q q 0 0 0 rg BT 349.07 642.60 Td (W) Tj ET Q q 0 0 0 rg BT 357.70 642.60 Td (e ) Tj ET Q q 0 0 0 rg BT 364.91 642.60 Td (accrue ) Tj ET Q q 0 0 0 rg BT 393.75 642.60 Td (for ) Tj ET Q q 0 0 0 rg BT 408.18 642.60 Td (losses ) Tj ET Q q 0 0 0 rg BT 434.83 642.60 Td (from ) Tj ET Q q 0 0 0 rg BT 457.03 642.60 Td (litigation ) Tj ET Q q 0 0 0 rg BT 495.91 642.60 Td (and ) Tj ET Q q 0 0 0 rg BT 513.11 642.60 Td (claims ) Tj ET Q q 0 0 0 rg BT 541.98 642.60 Td (if ) Tj ET Q q 0 0 0 rg BT 550.85 642.60 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 630.60 Td (determine ) Tj ET Q q 0 0 0 rg BT 91.98 630.60 Td (that ) Tj ET Q q 0 0 0 rg BT 109.48 630.60 Td (a ) Tj ET Q q 0 0 0 rg BT 116.41 630.60 Td (loss ) Tj ET Q q 0 0 0 rg BT 134.48 630.60 Td (is ) Tj ET Q q 0 0 0 rg BT 143.65 630.60 Td (probable ) Tj ET Q q 0 0 0 rg BT 181.13 630.60 Td (and ) Tj ET Q q 0 0 0 rg BT 198.07 630.60 Td (the ) Tj ET Q q 0 0 0 rg BT 212.79 630.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 245.28 630.60 Td (can ) Tj ET Q q 0 0 0 rg BT 261.66 630.60 Td (be ) Tj ET Q q 0 0 0 rg BT 273.60 630.60 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 319.41 630.60 Td (estimated.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 606.60 Td (Riley ) Tj ET Q q 0 0 0 rg BT 72.54 606.60 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 98.37 606.60 Td (Helium ) Tj ET Q q 0 0 0 rg BT 130.31 606.60 Td (Supply ) Tj ET Q q 0 0 0 rg BT 160.02 606.60 Td (Contract ) Tj ET Q q 0 0 0 rg BT 198.08 606.60 Td (Claim) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 582.60 Td (As ) Tj ET Q q 0 0 0 rg BT 82.00 582.60 Td (part ) Tj ET Q q 0 0 0 rg BT 100.93 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 112.65 582.60 Td (our ) Tj ET Q q 0 0 0 rg BT 129.36 582.60 Td (2010 ) Tj ET Q q 0 0 0 rg BT 152.75 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 170.57 582.60 Td (201) Tj ET Q q 0 0 0 rg BT 185.20 582.60 Td (1 ) Tj ET Q q 0 0 0 rg BT 193.58 582.60 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 244.74 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 256.46 582.60 Td (the ) Tj ET Q q 0 0 0 rg BT 272.06 582.60 Td (Riley ) Tj ET Q q 0 0 0 rg BT 297.11 582.60 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 324.38 582.60 Td (Unit ) Tj ET Q q 0 0 0 rg BT 345.55 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 363.37 582.60 Td (associated ) Tj ET Q q 0 0 0 rg BT 407.85 582.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 424.56 582.60 Td (processing ) Tj ET Q q 0 0 0 rg BT 470.72 582.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 502.42 582.60 Td (that ) Tj ET Q q 0 0 0 rg BT 520.80 582.60 Td (was ) Tj ET Q q 0 0 0 rg BT 539.74 582.60 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.60 Td (construction, ) Tj ET Q q 0 0 0 rg BT 103.48 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 117.74 570.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 158.66 570.60 Td (assumed ) Tj ET Q q 0 0 0 rg BT 195.15 570.60 Td (a ) Tj ET Q q 0 0 0 rg BT 201.63 570.60 Td (20-year ) Tj ET Q q 0 0 0 rg BT 234.21 570.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 264.02 570.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 292.73 570.60 Td (contract ) Tj ET Q q 0 0 0 rg BT 326.98 570.60 Td (under ) Tj ET Q q 0 0 0 rg BT 351.79 570.60 Td (which ) Tj ET Q q 0 0 0 rg BT 378.27 570.60 Td (we ) Tj ET Q q 0 0 0 rg BT 391.97 570.60 Td (agreed ) Tj ET Q q 0 0 0 rg BT 420.66 570.60 Td (to ) Tj ET Q q 0 0 0 rg BT 430.48 570.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 459.19 570.60 Td (the ) Tj ET Q q 0 0 0 rg BT 473.45 570.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 503.27 570.60 Td (separated ) Tj ET Q q 0 0 0 rg BT 543.07 570.60 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.60 Td (the ) Tj ET Q q 0 0 0 rg BT 63.69 558.60 Td (full ) Tj ET Q q 0 0 0 rg BT 79.55 558.60 Td (well ) Tj ET Q q 0 0 0 rg BT 98.74 558.60 Td (stream ) Tj ET Q q 0 0 0 rg BT 127.36 558.60 Td (by ) Tj ET Q q 0 0 0 rg BT 139.33 558.60 Td (operation ) Tj ET Q q 0 0 0 rg BT 179.07 558.60 Td (of ) Tj ET Q q 0 0 0 rg BT 189.37 558.60 Td (the ) Tj ET Q q 0 0 0 rg BT 203.56 558.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 218.86 558.60 Td (processing ) Tj ET Q q 0 0 0 rg BT 263.60 558.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 293.89 558.60 Td (to ) Tj ET Q q 0 0 0 rg BT 303.64 558.60 Td (a ) Tj ET Q q 0 0 0 rg BT 310.05 558.60 Td (third-party ) Tj ET Q q 0 0 0 rg BT 354.79 558.60 Td (purchaser) Tj ET Q q 0 0 0 rg BT 393.26 558.60 Td (, ) Tj ET Q q 0 0 0 rg BT 397.29 558.60 Td (APMTG ) Tj ET Q q 0 0 0 rg BT 434.27 558.60 Td (Helium, ) Tj ET Q q 0 0 0 rg BT 468.74 558.60 Td (LLC ) Tj ET Q q 0 0 0 rg BT 489.59 558.60 Td (\(�APMTG�\).� ) Tj ET Q q 0 0 0 rg BT 546.96 558.60 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 79.67 546.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 108.74 546.60 Td (contract ) Tj ET Q q 0 0 0 rg BT 143.34 546.60 Td (provides ) Tj ET Q q 0 0 0 rg BT 180.17 546.60 Td (for ) Tj ET Q q 0 0 0 rg BT 194.23 546.60 Td (the ) Tj ET Q q 0 0 0 rg BT 208.85 546.60 Td (delivery ) Tj ET Q q 0 0 0 rg BT 244.01 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 254.73 546.60 Td (a ) Tj ET Q q 0 0 0 rg BT 261.57 546.60 Td (minimum ) Tj ET Q q 0 0 0 rg BT 302.86 546.60 Td (contracted ) Tj ET Q q 0 0 0 rg BT 346.90 546.60 Td (quantity ) Tj ET Q q 0 0 0 rg BT 382.07 546.60 Td (of ) Tj ET Q q 0 0 0 rg BT 392.80 546.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 422.97 546.60 Td (with ) Tj ET Q q 0 0 0 rg BT 443.14 546.60 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 485.53 546.60 Td (damages ) Tj ET Q q 0 0 0 rg BT 522.91 546.60 Td (payable ) Tj ET Q q 0 0 0 rg BT 556.40 546.60 Td (if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.60 Td (specified ) Tj ET Q q 0 0 0 rg BT 87.80 534.60 Td (quantities ) Tj ET Q q 0 0 0 rg BT 128.89 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 139.43 534.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 169.42 534.60 Td (are ) Tj ET Q q 0 0 0 rg BT 183.83 534.60 Td (not ) Tj ET Q q 0 0 0 rg BT 198.82 534.60 Td (supplied ) Tj ET Q q 0 0 0 rg BT 234.92 534.60 Td (in ) Tj ET Q q 0 0 0 rg BT 244.91 534.60 Td (accordance ) Tj ET Q q 0 0 0 rg BT 292.08 534.60 Td (with ) Tj ET Q q 0 0 0 rg BT 312.06 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 326.49 534.60 Td (terms ) Tj ET Q q 0 0 0 rg BT 350.92 534.60 Td (of ) Tj ET Q q 0 0 0 rg BT 361.46 534.60 Td (the ) Tj ET Q q 0 0 0 rg BT 375.88 534.60 Td (contract. ) Tj ET Q q 0 0 0 rg BT 412.79 534.60 Td ( ) Tj ET Q q 0 0 0 rg BT 414.84 534.60 Td (The ) Tj ET Q q 0 0 0 rg BT 432.60 534.60 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 474.80 534.60 Td (damages ) Tj ET Q q 0 0 0 rg BT 511.99 534.60 Td (are ) Tj ET Q q 0 0 0 rg BT 526.41 534.60 Td (specified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.60 Td (in ) Tj ET Q q 0 0 0 rg BT 59.42 522.60 Td (the ) Tj ET Q q 0 0 0 rg BT 73.78 522.60 Td (contract ) Tj ET Q q 0 0 0 rg BT 108.12 522.60 Td (at ) Tj ET Q q 0 0 0 rg BT 117.47 522.60 Td (up ) Tj ET Q q 0 0 0 rg BT 129.61 522.60 Td (to ) Tj ET Q q 0 0 0 rg BT 139.53 522.60 Td ($8.0 ) Tj ET Q q 0 0 0 rg BT 159.17 522.60 Td (million ) Tj ET Q q 0 0 0 rg BT 190.21 522.60 Td (per ) Tj ET Q q 0 0 0 rg BT 205.11 522.60 Td (contract ) Tj ET Q q 0 0 0 rg BT 239.46 522.60 Td (year ) Tj ET Q q 0 0 0 rg BT 258.80 522.60 Td (and ) Tj ET Q q 0 0 0 rg BT 275.38 522.60 Td (are ) Tj ET Q q 0 0 0 rg BT 289.73 522.60 Td (capped ) Tj ET Q q 0 0 0 rg BT 320.18 522.60 Td (at ) Tj ET Q q 0 0 0 rg BT 329.54 522.60 Td (an ) Tj ET Q q 0 0 0 rg BT 341.12 522.60 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 382.12 522.60 Td (of ) Tj ET Q q 0 0 0 rg BT 392.59 522.60 Td ($46.0 ) Tj ET Q q 0 0 0 rg BT 417.23 522.60 Td (million ) Tj ET Q q 0 0 0 rg BT 448.26 522.60 Td (over ) Tj ET Q q 0 0 0 rg BT 468.17 522.60 Td (the ) Tj ET Q q 0 0 0 rg BT 482.53 522.60 Td (term ) Tj ET Q q 0 0 0 rg BT 503.00 522.60 Td (of ) Tj ET Q q 0 0 0 rg BT 513.47 522.60 Td (the ) Tj ET Q q 0 0 0 rg BT 527.82 522.60 Td (contract. ) Tj ET Q q 0 0 0 rg BT 565.02 522.60 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 498.60 Td (As ) Tj ET Q q 0 0 0 rg BT 81.33 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 96.26 498.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 112.30 498.60 Td (processing ) Tj ET Q q 0 0 0 rg BT 157.79 498.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 188.82 498.60 Td (has ) Tj ET Q q 0 0 0 rg BT 204.87 498.60 Td (been ) Tj ET Q q 0 0 0 rg BT 226.46 498.60 Td (shut-in ) Tj ET Q q 0 0 0 rg BT 256.95 498.60 Td (since ) Tj ET Q q 0 0 0 rg BT 280.21 498.60 Td (mid-2014 ) Tj ET Q q 0 0 0 rg BT 321.82 498.60 Td (due ) Tj ET Q q 0 0 0 rg BT 338.97 498.60 Td (to ) Tj ET Q q 0 0 0 rg BT 349.46 498.60 Td (significant ) Tj ET Q q 0 0 0 rg BT 394.39 498.60 Td (technical ) Tj ET Q q 0 0 0 rg BT 433.19 498.60 Td (issues, ) Tj ET Q q 0 0 0 rg BT 462.30 498.60 Td (we ) Tj ET Q q 0 0 0 rg BT 476.67 498.60 Td (have ) Tj ET Q q 0 0 0 rg BT 498.27 498.60 Td (not ) Tj ET Q q 0 0 0 rg BT 513.76 498.60 Td (been ) Tj ET Q q 0 0 0 rg BT 535.35 498.60 Td (able ) Tj ET Q q 0 0 0 rg BT 554.72 498.60 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 78.35 486.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 108.31 486.60 Td (under ) Tj ET Q q 0 0 0 rg BT 133.27 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 147.67 486.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 177.63 486.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 206.48 486.60 Td (contract.� ) Tj ET Q q 0 0 0 rg BT 245.87 486.60 Td (In ) Tj ET Q q 0 0 0 rg BT 256.38 486.60 Td (a ) Tj ET Q q 0 0 0 rg BT 263.01 486.60 Td (case ) Tj ET Q q 0 0 0 rg BT 282.40 486.60 Td (filed ) Tj ET Q q 0 0 0 rg BT 302.91 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 312.87 486.60 Td (November ) Tj ET Q q 0 0 0 rg BT 357.27 486.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 379.45 486.60 Td (in ) Tj ET Q q 0 0 0 rg BT 389.41 486.60 Td (the ) Tj ET Q q 0 0 0 rg BT 403.82 486.60 Td (Ninth ) Tj ET Q q 0 0 0 rg BT 428.78 486.60 Td (Judicial ) Tj ET Q q 0 0 0 rg BT 462.07 486.60 Td (District ) Tj ET Q q 0 0 0 rg BT 494.25 486.60 Td (Court ) Tj ET Q q 0 0 0 rg BT 519.21 486.60 Td (of ) Tj ET Q q 0 0 0 rg BT 529.73 486.60 Td (Sublette ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (County) Tj ET Q q 0 0 0 rg BT 78.30 474.60 Td (, ) Tj ET Q q 0 0 0 rg BT 82.90 474.60 Td (W) Tj ET Q q 0 0 0 rg BT 91.73 474.60 Td (yoming, ) Tj ET Q q 0 0 0 rg BT 126.55 474.60 Td (APMTG ) Tj ET Q q 0 0 0 rg BT 163.81 474.60 Td (claimed ) Tj ET Q q 0 0 0 rg BT 197.73 474.60 Td (multiple ) Tj ET Q q 0 0 0 rg BT 233.31 474.60 Td (years ) Tj ET Q q 0 0 0 rg BT 256.67 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 267.26 474.60 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 309.51 474.60 Td (damages ) Tj ET Q q 0 0 0 rg BT 346.76 474.60 Td (for ) Tj ET Q q 0 0 0 rg BT 360.68 474.60 Td (non-delivery ) Tj ET Q q 0 0 0 rg BT 414.03 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 424.62 474.60 Td (volumes ) Tj ET Q q 0 0 0 rg BT 460.77 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 471.36 474.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 501.39 474.60 Td (specified ) Tj ET Q q 0 0 0 rg BT 539.74 474.60 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.45 462.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 94.96 462.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 124.37 462.60 Td (contract. ) Tj ET Q q 0 0 0 rg BT 161.81 462.60 Td ( ) Tj ET Q q 0 0 0 rg BT 164.34 462.60 Td (The ) Tj ET Q q 0 0 0 rg BT 182.63 462.60 Td (Company�) Tj ET Q q 0 0 0 rg BT 224.29 462.60 Td (s ) Tj ET Q q 0 0 0 rg BT 230.92 462.60 Td (position ) Tj ET Q q 0 0 0 rg BT 265.88 462.60 Td (is ) Tj ET Q q 0 0 0 rg BT 275.29 462.60 Td (that ) Tj ET Q q 0 0 0 rg BT 293.02 462.60 Td (our ) Tj ET Q q 0 0 0 rg BT 309.08 462.60 Td (contractual ) Tj ET Q q 0 0 0 rg BT 356.24 462.60 Td (obligations ) Tj ET Q q 0 0 0 rg BT 403.42 462.60 Td (are ) Tj ET Q q 0 0 0 rg BT 418.36 462.60 Td (excused ) Tj ET Q q 0 0 0 rg BT 453.30 462.60 Td (by ) Tj ET Q q 0 0 0 rg BT 466.04 462.60 Td (virtue ) Tj ET Q q 0 0 0 rg BT 492.10 462.60 Td (of ) Tj ET Q q 0 0 0 rg BT 503.17 462.60 Td (events ) Tj ET Q q 0 0 0 rg BT 531.45 462.60 Td (that ) Tj ET Q q 0 0 0 rg BT 549.18 462.60 Td (fall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.60 Td (within ) Tj ET Q q 0 0 0 rg BT 77.56 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 92.27 450.60 Td (force ) Tj ET Q q 0 0 0 rg BT 115.31 450.60 Td (majeure ) Tj ET Q q 0 0 0 rg BT 150.01 450.60 Td (provisions ) Tj ET Q q 0 0 0 rg BT 194.18 450.60 Td (in ) Tj ET Q q 0 0 0 rg BT 204.46 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 219.18 450.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 249.45 450.60 Td (supply ) Tj ET Q q 0 0 0 rg BT 278.62 450.60 Td (contract.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 426.60 Td (On ) Tj ET Q q 0 0 0 rg BT 82.12 426.60 Td (January ) Tj ET Q q 0 0 0 rg BT 115.62 426.60 Td (21, ) Tj ET Q q 0 0 0 rg BT 130.52 426.60 Td (2019, ) Tj ET Q q 0 0 0 rg BT 155.43 426.60 Td (the ) Tj ET Q q 0 0 0 rg BT 170.04 426.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 211.33 426.60 Td (received ) Tj ET Q q 0 0 0 rg BT 247.60 426.60 Td (notice ) Tj ET Q q 0 0 0 rg BT 274.43 426.60 Td (of ) Tj ET Q q 0 0 0 rg BT 285.16 426.60 Td (the ) Tj ET Q q 0 0 0 rg BT 299.78 426.60 Td (trial ) Tj ET Q q 0 0 0 rg BT 318.29 426.60 Td (court�) Tj ET Q q 0 0 0 rg BT 341.61 426.60 Td (s ) Tj ET Q q 0 0 0 rg BT 347.90 426.60 Td (ruling ) Tj ET Q q 0 0 0 rg BT 374.19 426.60 Td (that ) Tj ET Q q 0 0 0 rg BT 391.59 426.60 Td (a ) Tj ET Q q 0 0 0 rg BT 398.43 426.60 Td (force ) Tj ET Q q 0 0 0 rg BT 421.37 426.60 Td (majeure ) Tj ET Q q 0 0 0 rg BT 455.97 426.60 Td (condition ) Tj ET Q q 0 0 0 rg BT 496.14 426.60 Td (did ) Tj ET Q q 0 0 0 rg BT 511.32 426.60 Td (exist, ) Tj ET Q q 0 0 0 rg BT 535.11 426.60 Td (but ) Tj ET Q q 0 0 0 rg BT 550.29 426.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.60 Td (Company�) Tj ET Q q 0 0 0 rg BT 91.17 414.60 Td (s ) Tj ET Q q 0 0 0 rg BT 97.68 414.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 150.83 414.60 Td (was ) Tj ET Q q 0 0 0 rg BT 169.00 414.60 Td (only ) Tj ET Q q 0 0 0 rg BT 189.41 414.60 Td (excused ) Tj ET Q q 0 0 0 rg BT 224.24 414.60 Td (by ) Tj ET Q q 0 0 0 rg BT 236.86 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 251.70 414.60 Td (force ) Tj ET Q q 0 0 0 rg BT 274.87 414.60 Td (majeure ) Tj ET Q q 0 0 0 rg BT 309.69 414.60 Td (provisions ) Tj ET Q q 0 0 0 rg BT 353.99 414.60 Td (of ) Tj ET Q q 0 0 0 rg BT 364.94 414.60 Td (the ) Tj ET Q q 0 0 0 rg BT 379.78 414.60 Td (contract ) Tj ET Q q 0 0 0 rg BT 414.61 414.60 Td (for ) Tj ET Q q 0 0 0 rg BT 428.89 414.60 Td (a ) Tj ET Q q 0 0 0 rg BT 435.96 414.60 Td (35-day ) Tj ET Q q 0 0 0 rg BT 466.35 414.60 Td (period ) Tj ET Q q 0 0 0 rg BT 494.52 414.60 Td (in ) Tj ET Q q 0 0 0 rg BT 504.92 414.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 530.05 414.60 Td (and ) Tj ET Q q 0 0 0 rg BT 547.11 414.60 Td (as ) Tj ET Q q 0 0 0 rg BT 558.07 414.60 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (result ) Tj ET Q q 0 0 0 rg BT 76.98 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 94.47 402.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 138.62 402.60 Td (should ) Tj ET Q q 0 0 0 rg BT 170.56 402.60 Td (pay ) Tj ET Q q 0 0 0 rg BT 189.10 402.60 Td (APMTG ) Tj ET Q q 0 0 0 rg BT 229.37 402.60 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 274.63 402.60 Td (damages ) Tj ET Q q 0 0 0 rg BT 314.88 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 334.59 402.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 369.29 402.60 Td (thereon ) Tj ET Q q 0 0 0 rg BT 404.54 402.60 Td (for ) Tj ET Q q 0 0 0 rg BT 421.47 402.60 Td (those ) Tj ET Q q 0 0 0 rg BT 447.84 402.60 Td (time ) Tj ET Q q 0 0 0 rg BT 470.89 402.60 Td (periods ) Tj ET Q q 0 0 0 rg BT 505.59 402.60 Td (from ) Tj ET Q q 0 0 0 rg BT 530.30 402.60 Td (contract ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.60 Td (commencement ) Tj ET Q q 0 0 0 rg BT 115.13 390.60 Td (to ) Tj ET Q q 0 0 0 rg BT 125.23 390.60 Td (the ) Tj ET Q q 0 0 0 rg BT 139.76 390.60 Td (close ) Tj ET Q q 0 0 0 rg BT 162.63 390.60 Td (of ) Tj ET Q q 0 0 0 rg BT 173.28 390.60 Td (evidence ) Tj ET Q q 0 0 0 rg BT 211.13 390.60 Td (\(November ) Tj ET Q q 0 0 0 rg BT 258.99 390.60 Td (29, ) Tj ET Q q 0 0 0 rg BT 273.81 390.60 Td (2017\) ) Tj ET Q q 0 0 0 rg BT 299.46 390.60 Td (when ) Tj ET Q q 0 0 0 rg BT 323.45 390.60 Td (the ) Tj ET Q q 0 0 0 rg BT 337.98 390.60 Td (Company�) Tj ET Q q 0 0 0 rg BT 379.65 390.60 Td (s ) Tj ET Q q 0 0 0 rg BT 385.86 390.60 Td (performance ) Tj ET Q q 0 0 0 rg BT 438.70 390.60 Td (was ) Tj ET Q q 0 0 0 rg BT 456.58 390.60 Td (not ) Tj ET Q q 0 0 0 rg BT 471.68 390.60 Td (excused ) Tj ET Q q 0 0 0 rg BT 506.20 390.60 Td (as ) Tj ET Q q 0 0 0 rg BT 516.85 390.60 Td (provided ) Tj ET Q q 0 0 0 rg BT 554.72 390.60 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.60 Td (the ) Tj ET Q q 0 0 0 rg BT 64.35 378.60 Td (contract. ) Tj ET Q q 0 0 0 rg BT 101.69 378.60 Td ( ) Tj ET Q q 0 0 0 rg BT 104.14 378.60 Td (The ) Tj ET Q q 0 0 0 rg BT 122.32 378.60 Td (trial ) Tj ET Q q 0 0 0 rg BT 141.06 378.60 Td (court ) Tj ET Q q 0 0 0 rg BT 164.24 378.60 Td (has ) Tj ET Q q 0 0 0 rg BT 180.21 378.60 Td (not ) Tj ET Q q 0 0 0 rg BT 195.62 378.60 Td (yet ) Tj ET Q q 0 0 0 rg BT 210.47 378.60 Td (entered ) Tj ET Q q 0 0 0 rg BT 242.53 378.60 Td (a ) Tj ET Q q 0 0 0 rg BT 249.61 378.60 Td (final ) Tj ET Q q 0 0 0 rg BT 270.57 378.60 Td (judgment ) Tj ET Q q 0 0 0 rg BT 310.98 378.60 Td (based ) Tj ET Q q 0 0 0 rg BT 336.38 378.60 Td (upon ) Tj ET Q q 0 0 0 rg BT 359.02 378.60 Td (its ) Tj ET Q q 0 0 0 rg BT 371.10 378.60 Td (decision. ) Tj ET Q q 0 0 0 rg BT 409.56 378.60 Td ( ) Tj ET Q q 0 0 0 rg BT 412.01 378.60 Td (The ) Tj ET Q q 0 0 0 rg BT 430.19 378.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 471.71 378.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 510.44 378.60 Td (estimates ) Tj ET Q q 0 0 0 rg BT 550.29 378.60 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.60 Td (contractual ) Tj ET Q q 0 0 0 rg BT 96.81 366.60 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 139.70 366.60 Td (damages ) Tj ET Q q 0 0 0 rg BT 177.57 366.60 Td (to ) Tj ET Q q 0 0 0 rg BT 188.25 366.60 Td (be ) Tj ET Q q 0 0 0 rg BT 200.58 366.60 Td ($31.8 ) Tj ET Q q 0 0 0 rg BT 225.97 366.60 Td (million, ) Tj ET Q q 0 0 0 rg BT 260.25 366.60 Td (representing ) Tj ET Q q 0 0 0 rg BT 312.57 366.60 Td (the ) Tj ET Q q 0 0 0 rg BT 327.68 366.60 Td (amount ) Tj ET Q q 0 0 0 rg BT 360.57 366.60 Td (due ) Tj ET Q q 0 0 0 rg BT 377.90 366.60 Td (for ) Tj ET Q q 0 0 0 rg BT 392.45 366.60 Td (the ) Tj ET Q q 0 0 0 rg BT 407.56 366.60 Td (contract ) Tj ET Q q 0 0 0 rg BT 442.66 366.60 Td (years ) Tj ET Q q 0 0 0 rg BT 466.65 366.60 Td (for ) Tj ET Q q 0 0 0 rg BT 481.20 366.60 Td (which ) Tj ET Q q 0 0 0 rg BT 508.54 366.60 Td (evidence ) Tj ET Q q 0 0 0 rg BT 546.96 366.60 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.60 Td (submitted ) Tj ET Q q 0 0 0 rg BT 92.02 354.60 Td (at ) Tj ET Q q 0 0 0 rg BT 102.32 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 117.62 354.60 Td (trial ) Tj ET Q q 0 0 0 rg BT 136.80 354.60 Td (ending ) Tj ET Q q 0 0 0 rg BT 167.10 354.60 Td (November ) Tj ET Q q 0 0 0 rg BT 212.39 354.60 Td (29, ) Tj ET Q q 0 0 0 rg BT 227.97 354.60 Td (2017. ) Tj ET Q q 0 0 0 rg BT 253.55 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 256.63 354.60 Td (However) Tj ET Q q 0 0 0 rg BT 292.88 354.60 Td (, ) Tj ET Q q 0 0 0 rg BT 298.46 354.60 Td (absent ) Tj ET Q q 0 0 0 rg BT 327.09 354.60 Td (reversal ) Tj ET Q q 0 0 0 rg BT 361.82 354.60 Td (of ) Tj ET Q q 0 0 0 rg BT 373.23 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 388.53 354.60 Td (trial ) Tj ET Q q 0 0 0 rg BT 407.71 354.60 Td (court�) Tj ET Q q 0 0 0 rg BT 431.04 354.60 Td (s ) Tj ET Q q 0 0 0 rg BT 438.01 354.60 Td (factual ) Tj ET Q q 0 0 0 rg BT 468.29 354.60 Td (or ) Tj ET Q q 0 0 0 rg BT 479.71 354.60 Td (legal ) Tj ET Q q 0 0 0 rg BT 502.22 354.60 Td (conclusions ) Tj ET Q q 0 0 0 rg BT 552.52 354.60 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.60 Td (appeal, ) Tj ET Q q 0 0 0 rg BT 81.32 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 96.76 342.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 138.87 342.60 Td (anticipates ) Tj ET Q q 0 0 0 rg BT 184.85 342.60 Td (total ) Tj ET Q q 0 0 0 rg BT 205.85 342.60 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 249.06 342.60 Td (damages ) Tj ET Q q 0 0 0 rg BT 287.27 342.60 Td (will ) Tj ET Q q 0 0 0 rg BT 306.05 342.60 Td (equal ) Tj ET Q q 0 0 0 rg BT 330.93 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 346.38 342.60 Td ($46.0 ) Tj ET Q q 0 0 0 rg BT 372.10 342.60 Td (million ) Tj ET Q q 0 0 0 rg BT 404.21 342.60 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 446.30 342.60 Td (cap ) Tj ET Q q 0 0 0 rg BT 463.40 342.60 Td (under ) Tj ET Q q 0 0 0 rg BT 489.40 342.60 Td (the ) Tj ET Q q 0 0 0 rg BT 504.84 342.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 535.83 342.60 Td (supply ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (contract ) Tj ET Q q 0 0 0 rg BT 84.38 330.60 Td (\(which ) Tj ET Q q 0 0 0 rg BT 114.83 330.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 150.83 330.60 Td (an ) Tj ET Q q 0 0 0 rg BT 162.95 330.60 Td (additional ) Tj ET Q q 0 0 0 rg BT 205.62 330.60 Td ($14.2 ) Tj ET Q q 0 0 0 rg BT 230.80 330.60 Td (million ) Tj ET Q q 0 0 0 rg BT 262.37 330.60 Td (of ) Tj ET Q q 0 0 0 rg BT 273.38 330.60 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 316.05 330.60 Td (damages ) Tj ET Q q 0 0 0 rg BT 353.72 330.60 Td (for ) Tj ET Q q 0 0 0 rg BT 368.06 330.60 Td (the ) Tj ET Q q 0 0 0 rg BT 382.96 330.60 Td (contract ) Tj ET Q q 0 0 0 rg BT 417.84 330.60 Td (years ) Tj ET Q q 0 0 0 rg BT 441.62 330.60 Td (ending ) Tj ET Q q 0 0 0 rg BT 471.51 330.60 Td (July ) Tj ET Q q 0 0 0 rg BT 490.86 330.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 506.04 330.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 528.72 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 545.84 330.60 Td (July ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 63.67 318.60 Td (2019\) ) Tj ET Q q 0 0 0 rg BT 88.67 318.60 Td (and ) Tj ET Q q 0 0 0 rg BT 104.78 318.60 Td (other ) Tj ET Q q 0 0 0 rg BT 127.00 318.60 Td (costs ) Tj ET Q q 0 0 0 rg BT 148.67 318.60 Td (associated ) Tj ET Q q 0 0 0 rg BT 191.43 318.60 Td (with ) Tj ET Q q 0 0 0 rg BT 210.88 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 224.76 318.60 Td (settlement ) Tj ET Q q 0 0 0 rg BT 267.53 318.60 Td (of ) Tj ET Q q 0 0 0 rg BT 277.53 318.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 336.96 318.60 Td ($3.4 ) Tj ET Q q 0 0 0 rg BT 356.13 318.60 Td (million, ) Tj ET Q q 0 0 0 rg BT 389.19 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 403.08 318.60 Td (total ) Tj ET Q q 0 0 0 rg BT 422.52 318.60 Td (of ) Tj ET Q q 0 0 0 rg BT 432.52 318.60 Td (which ) Tj ET Q q 0 0 0 rg BT 458.63 318.60 Td (the ) Tj ET Q q 0 0 0 rg BT 472.52 318.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 513.07 318.60 Td (has ) Tj ET Q q 0 0 0 rg BT 528.07 318.60 Td (included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.60 Td (in ) Tj ET Q q 0 0 0 rg BT 60.49 306.60 Td (�Other ) Tj ET Q q 0 0 0 rg BT 90.91 306.60 Td (liabilities� ) Tj ET Q q 0 0 0 rg BT 135.78 306.60 Td (in ) Tj ET Q q 0 0 0 rg BT 146.78 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 163.32 306.60 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 219.31 306.60 Td (Balance ) Tj ET Q q 0 0 0 rg BT 254.73 306.60 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 284.05 306.60 Td (as ) Tj ET Q q 0 0 0 rg BT 295.59 306.60 Td (of ) Tj ET Q q 0 0 0 rg BT 307.14 306.60 Td (December ) Tj ET Q q 0 0 0 rg BT 351.44 306.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 367.15 306.60 Td (2018 ) Tj ET Q q 0 0 0 rg BT 390.36 306.60 Td (and ) Tj ET Q q 0 0 0 rg BT 408.02 306.60 Td (�Other ) Tj ET Q q 0 0 0 rg BT 438.44 306.60 Td (expenses� ) Tj ET Q q 0 0 0 rg BT 482.19 306.60 Td (in ) Tj ET Q q 0 0 0 rg BT 493.18 306.60 Td (our ) Tj ET Q q 0 0 0 rg BT 509.73 306.60 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.60 Td (Statements ) Tj ET Q q 0 0 0 rg BT 96.45 294.60 Td (of ) Tj ET Q q 0 0 0 rg BT 107.85 294.60 Td (Operations ) Tj ET Q q 0 0 0 rg BT 154.80 294.60 Td (for ) Tj ET Q q 0 0 0 rg BT 169.53 294.60 Td (the ) Tj ET Q q 0 0 0 rg BT 184.82 294.60 Td (year ) Tj ET Q q 0 0 0 rg BT 205.10 294.60 Td (ended ) Tj ET Q q 0 0 0 rg BT 232.05 294.60 Td (December ) Tj ET Q q 0 0 0 rg BT 276.20 294.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 291.78 294.60 Td (2018. ) Tj ET Q q 0 0 0 rg BT 317.35 294.60 Td ( ) Tj ET Q q 0 0 0 rg BT 320.20 294.60 Td (The ) Tj ET Q q 0 0 0 rg BT 338.81 294.60 Td (Company�) Tj ET Q q 0 0 0 rg BT 380.48 294.60 Td (s ) Tj ET Q q 0 0 0 rg BT 387.44 294.60 Td (position ) Tj ET Q q 0 0 0 rg BT 422.74 294.60 Td (continues ) Tj ET Q q 0 0 0 rg BT 464.14 294.60 Td (to ) Tj ET Q q 0 0 0 rg BT 474.99 294.60 Td (be ) Tj ET Q q 0 0 0 rg BT 487.50 294.60 Td (that ) Tj ET Q q 0 0 0 rg BT 505.56 294.60 Td (its ) Tj ET Q q 0 0 0 rg BT 518.08 294.60 Td (contractual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.60 Td (obligations ) Tj ET Q q 0 0 0 rg BT 97.05 282.60 Td (have ) Tj ET Q q 0 0 0 rg BT 119.02 282.60 Td (been ) Tj ET Q q 0 0 0 rg BT 141.00 282.60 Td (and ) Tj ET Q q 0 0 0 rg BT 158.54 282.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 196.08 282.60 Td (to ) Tj ET Q q 0 0 0 rg BT 206.96 282.60 Td (be ) Tj ET Q q 0 0 0 rg BT 219.50 282.60 Td (excused ) Tj ET Q q 0 0 0 rg BT 254.81 282.60 Td (by ) Tj ET Q q 0 0 0 rg BT 267.91 282.60 Td (events ) Tj ET Q q 0 0 0 rg BT 296.56 282.60 Td (that ) Tj ET Q q 0 0 0 rg BT 314.66 282.60 Td (fall ) Tj ET Q q 0 0 0 rg BT 331.08 282.60 Td (within ) Tj ET Q q 0 0 0 rg BT 359.74 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 375.06 282.60 Td (force ) Tj ET Q q 0 0 0 rg BT 398.70 282.60 Td (majeure ) Tj ET Q q 0 0 0 rg BT 434.01 282.60 Td (provisions ) Tj ET Q q 0 0 0 rg BT 478.78 282.60 Td (in ) Tj ET Q q 0 0 0 rg BT 489.66 282.60 Td (the ) Tj ET Q q 0 0 0 rg BT 504.98 282.60 Td (helium ) Tj ET Q q 0 0 0 rg BT 535.85 282.60 Td (supply ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.60 Td (contract. ) Tj ET Q q 0 0 0 rg BT 87.00 270.60 Td ( ) Tj ET Q q 0 0 0 rg BT 89.60 270.60 Td (The ) Tj ET Q q 0 0 0 rg BT 107.95 270.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 149.64 270.60 Td (intends ) Tj ET Q q 0 0 0 rg BT 181.33 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 191.91 270.60 Td (continue ) Tj ET Q q 0 0 0 rg BT 229.15 270.60 Td (to ) Tj ET Q q 0 0 0 rg BT 239.73 270.60 Td (vigorously ) Tj ET Q q 0 0 0 rg BT 285.31 270.60 Td (defend ) Tj ET Q q 0 0 0 rg BT 315.32 270.60 Td (its ) Tj ET Q q 0 0 0 rg BT 327.57 270.60 Td (position ) Tj ET Q q 0 0 0 rg BT 362.60 270.60 Td (and ) Tj ET Q q 0 0 0 rg BT 379.84 270.60 Td (pursue ) Tj ET Q q 0 0 0 rg BT 409.31 270.60 Td (all ) Tj ET Q q 0 0 0 rg BT 422.10 270.60 Td (of ) Tj ET Q q 0 0 0 rg BT 433.24 270.60 Td (its ) Tj ET Q q 0 0 0 rg BT 445.49 270.60 Td (rights, ) Tj ET Q q 0 0 0 rg BT 473.57 270.60 Td (which ) Tj ET Q q 0 0 0 rg BT 500.81 270.60 Td (may ) Tj ET Q q 0 0 0 rg BT 520.83 270.60 Td (include ) Tj ET Q q 0 0 0 rg BT 553.07 270.60 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.60 Td (appeal ) Tj ET Q q 0 0 0 rg BT 78.09 258.60 Td (of ) Tj ET Q q 0 0 0 rg BT 88.92 258.60 Td (the ) Tj ET Q q 0 0 0 rg BT 103.64 258.60 Td (trial ) Tj ET Q q 0 0 0 rg BT 122.24 258.60 Td (court�) Tj ET Q q 0 0 0 rg BT 145.57 258.60 Td (s ) Tj ET Q q 0 0 0 rg BT 151.96 258.60 Td (ruling, ) Tj ET Q q 0 0 0 rg BT 180.85 258.60 Td (the ) Tj ET Q q 0 0 0 rg BT 195.56 258.60 Td (results ) Tj ET Q q 0 0 0 rg BT 224.17 258.60 Td (of ) Tj ET Q q 0 0 0 rg BT 235.00 258.60 Td (which ) Tj ET Q q 0 0 0 rg BT 261.94 258.60 Td (cannot ) Tj ET Q q 0 0 0 rg BT 291.10 258.60 Td (be ) Tj ET Q q 0 0 0 rg BT 303.04 258.60 Td (currently ) Tj ET Q q 0 0 0 rg BT 341.63 258.60 Td (predicted.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 234.60 Td (Envir) Tj ET Q q 0 0 0 rg BT 71.35 234.60 Td (onmental ) Tj ET Q q 0 0 0 rg BT 111.06 234.60 Td (Pr) Tj ET Q q 0 0 0 rg BT 120.69 234.60 Td (otection ) Tj ET Q q 0 0 0 rg BT 155.22 234.60 Td (Agency ) Tj ET Q q 0 0 0 rg BT 187.15 234.60 Td (Matter ) Tj ET Q q 0 0 0 rg BT 216.86 234.60 Td (Concerning ) Tj ET Q q 0 0 0 rg BT 266.58 234.60 Td (Citr) Tj ET Q q 0 0 0 rg BT 282.33 234.60 Td (onelle ) Tj ET Q q 0 0 0 rg BT 309.26 234.60 Td (and ) Tj ET Q q 0 0 0 rg BT 326.76 234.60 Td (Other ) Tj ET Q q 0 0 0 rg BT 352.59 234.60 Td (Fields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.00 210.60 Td (The ) Tj ET Q q 0 0 0 rg BT 79.97 210.60 Td (Company ) Tj ET Q q 0 0 0 rg BT 120.29 210.60 Td (has ) Tj ET Q q 0 0 0 rg BT 135.04 210.60 Td (entered ) Tj ET Q q 0 0 0 rg BT 165.89 210.60 Td (into ) Tj ET Q q 0 0 0 rg BT 182.87 210.60 Td (a ) Tj ET Q q 0 0 0 rg BT 188.74 210.60 Td (series ) Tj ET Q q 0 0 0 rg BT 212.93 210.60 Td (of ) Tj ET Q q 0 0 0 rg BT 222.69 210.60 Td (tolling ) Tj ET Q q 0 0 0 rg BT 250.23 210.60 Td (agreements ) Tj ET Q q 0 0 0 rg BT 297.18 210.60 Td (\(ef) Tj ET Q q 0 0 0 rg BT 308.10 210.60 Td (fective ) Tj ET Q q 0 0 0 rg BT 336.73 210.60 Td (through ) Tj ET Q q 0 0 0 rg BT 369.26 210.60 Td (May ) Tj ET Q q 0 0 0 rg BT 389.02 210.60 Td (30, ) Tj ET Q q 0 0 0 rg BT 402.95 210.60 Td (2019\) ) Tj ET Q q 0 0 0 rg BT 427.70 210.60 Td (with ) Tj ET Q q 0 0 0 rg BT 446.91 210.60 Td (the ) Tj ET Q q 0 0 0 rg BT 460.55 210.60 Td (Environmental ) Tj ET Q q 0 0 0 rg BT 521.40 210.60 Td (Protection ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.60 Td (Agency ) Tj ET Q q 0 0 0 rg BT 83.36 198.60 Td (\(�EP) Tj ET Q q 0 0 0 rg BT 101.88 198.60 Td (A�\), ) Tj ET Q q 0 0 0 rg BT 122.14 198.60 Td (and ) Tj ET Q q 0 0 0 rg BT 139.34 198.60 Td (has ) Tj ET Q q 0 0 0 rg BT 155.43 198.60 Td (been ) Tj ET Q q 0 0 0 rg BT 177.07 198.60 Td (in ) Tj ET Q q 0 0 0 rg BT 187.62 198.60 Td (discussions ) Tj ET Q q 0 0 0 rg BT 235.94 198.60 Td (with ) Tj ET Q q 0 0 0 rg BT 256.48 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 271.46 198.60 Td (agency ) Tj ET Q q 0 0 0 rg BT 302.54 198.60 Td (over ) Tj ET Q q 0 0 0 rg BT 323.07 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 338.05 198.60 Td (past ) Tj ET Q q 0 0 0 rg BT 356.93 198.60 Td (several ) Tj ET Q q 0 0 0 rg BT 388.01 198.60 Td (years ) Tj ET Q q 0 0 0 rg BT 411.87 198.60 Td (regarding ) Tj ET Q q 0 0 0 rg BT 452.95 198.60 Td (the ) Tj ET Q q 0 0 0 rg BT 467.93 198.60 Td (EP) Tj ET Q q 0 0 0 rg BT 478.68 198.60 Td (A) Tj ET Q q 0 0 0 rg BT 484.79 198.60 Td (�) Tj ET Q q 0 0 0 rg BT 487.57 198.60 Td (s ) Tj ET Q q 0 0 0 rg BT 494.23 198.60 Td (contention ) Tj ET Q q 0 0 0 rg BT 539.20 198.60 Td (that ) Tj ET Q q 0 0 0 rg BT 556.96 198.60 Td (it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.60 Td (has ) Tj ET Q q 0 0 0 rg BT 64.37 186.60 Td (causes ) Tj ET Q q 0 0 0 rg BT 92.00 186.60 Td (of ) Tj ET Q q 0 0 0 rg BT 101.87 186.60 Td (action ) Tj ET Q q 0 0 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252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 252.10000000000002 m 453.5 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 237.10000000000002 m 453.5 237.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453.5 252.10000000000002 m 457.5 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 252.10000000000002 m 507.5 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 237.10000000000002 m 507.5 237.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 252.10000000000002 m 561.5 252.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 237.10000000000002 m 561.5 237.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 241.5 237.10000000000002 m 291.5 237.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 295.5 237.10000000000002 m 345.5 237.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 349.5 237.10000000000002 m 399.5 237.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 403.5 237.10000000000002 m 453.5 237.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457.5 237.10000000000002 m 507.5 237.10000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 511.5 237.10000000000002 m 561.5 237.10000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 256.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.95 256.77 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 241.77 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.00 241.77 Td (2013) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.00 241.77 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.00 241.77 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.00 241.77 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.00 241.77 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.00 241.77 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 226.77 Td (Denbury Resources Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.00 226.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 226.77 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.00 226.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.65 226.77 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.00 226.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 226.77 Td (13) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.00 226.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 226.77 Td (24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.00 226.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 226.77 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.00 226.77 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 226.77 Td (1) Tj ET Q q 0 0 0 rg BT 552.65 226.77 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 211.77 Td (S&P) Tj ET Q q 0 0 0 rg BT 70.72 211.77 Td ( 500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 211.77 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.65 211.77 Td (1) Tj ET Q q 0 0 0 rg BT 331.65 211.77 Td (14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.65 211.77 Td (1) Tj ET Q q 0 0 0 rg BT 385.65 211.77 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.65 211.77 Td (129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 211.77 Td (157) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.65 211.77 Td (150) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 196.77 Td (Dow Jones U.S. Exploration & Production) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.65 196.77 Td (100) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.65 196.77 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 196.77 Td (68) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 439.65 196.77 Td (85) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.65 196.77 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.65 196.77 Td (71) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 75 0 obj <> endobj 76 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (37) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 725.18505859375 m 182.5322265625 725.18505859375 l s q 0 0 0 rg BT 49.50 726.75 Td (Item 6. 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482.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 482.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 482.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 482.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 456.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 456.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 456.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 456.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 456.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 456.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 456.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 456.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 456.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 456.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 456.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 430.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 430.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 430.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 430.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 430.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 430.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 430.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 430.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 430.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 430.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 430.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 404.25 197.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 404.25 4.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 404.25 59.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 404.25 4.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 404.25 59.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 404.25 4.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 404.25 59.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 404.25 4.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 404.25 59.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 404.25 4.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 404.25 59.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 370.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 370.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 370.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 370.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 370.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 370.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 370.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 370.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 370.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 370.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 370.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 336.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 336.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 336.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 336.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 336.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 336.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 336.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 336.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 336.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 336.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 336.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 310.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 310.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 310.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 310.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 310.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 310.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 310.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 310.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 310.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 310.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 310.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 284.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 284.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 284.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 284.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 284.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 284.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 284.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 284.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 284.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 284.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 284.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 258.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 258.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 258.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 258.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 258.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 258.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 258.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 258.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 258.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 258.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 258.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 232.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 232.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 232.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 232.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 232.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 232.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 232.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 232.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 232.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 232.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 232.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 206.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 206.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 206.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 206.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 206.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 206.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 206.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 206.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 206.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 206.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 206.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 180.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 180.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 180.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 180.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 180.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 180.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 180.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 180.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 180.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 180.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 180.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 154.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 154.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 154.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 154.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 154.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 154.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 154.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 154.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 154.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 154.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 154.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 128.25 197.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 246.50 128.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 250.50 128.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 309.50 128.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 313.50 128.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 372.50 128.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 376.50 128.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 435.50 128.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 439.50 128.25 59.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.50 128.25 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 502.50 128.25 59.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 703.25 m 309.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 309.5 703.25 m 313.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 703.25 m 372.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 372.5 703.25 m 376.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 703.25 m 435.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 435.5 703.25 m 439.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 703.25 m 498.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498.5 703.25 m 502.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 703.25 m 561.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 690.25 m 246.5 690.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 703.25 m 309.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 690.25 m 309.5 690.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 703.25 m 372.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 690.25 m 372.5 690.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 703.25 m 435.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 690.25 m 435.5 690.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 703.25 m 498.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 690.25 m 498.5 690.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 703.25 m 561.5 703.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 690.25 m 561.5 690.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250.5 638.25 m 309.5 638.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 313.5 638.25 m 372.5 638.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 376.5 638.25 m 435.5 638.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 439.5 638.25 m 498.5 638.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 502.5 638.25 m 561.5 638.25 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 707.50 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 363.45 707.50 Td (Y) Tj ET Q q 0 0 0 rg BT 368.83 707.50 Td (ear Ended December 31,) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 52.00 694.50 Td (In thousands, except per) Tj ET Q q 0 0 0 rg BT 130.04 694.50 Td (-shar) Tj ET Q q 0 0 0 rg BT 146.64 694.50 Td (e data or otherwise noted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 271.50 694.50 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 334.50 694.50 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 397.50 694.50 Td (2016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.50 694.50 Td (2015) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.50 694.50 Td (2014) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 681.48 Td (Consolidated Statements of Operations data) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 668.50 Td (Revenues and other income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 655.50 Td (Oil, natural gas, and related product sales) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.00 655.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.25 655.50 Td (1,422,589) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.00 655.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.25 655.50 Td (1,089,666) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.00 655.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 655.50 Td (935,751) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.00 655.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.25 655.50 Td (1,213,026) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.00 655.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.25 655.50 Td (2,372,473) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 642.50 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.30 642.50 Td (51,036) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.30 642.50 Td (40,120) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.30 642.50 Td (39,845) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.30 642.50 Td (44,534) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 642.50 Td (62,732) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 629.50 Td (T) Tj ET Q q 0 0 0 rg BT 68.61 629.50 Td (otal revenues and other income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.00 629.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.25 629.50 Td (1,473,625) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.00 629.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.25 629.50 Td (1,129,786) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.00 629.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 629.50 Td (975,596) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.00 629.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.25 629.50 Td (1,257,560) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.00 629.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.25 629.50 Td (2,435,205) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 616.50 Td (Net income \(loss\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 108.88 620.13 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.30 616.50 Td (322,698) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 616.50 Td (163,152) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.60 616.50 Td (\(976,177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.30 616.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.60 616.50 Td (\(4,385,448) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 616.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 616.50 Td (635,491) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 603.50 Td (Net income \(loss\) per common share) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 590.50 Td (Basic) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 81.77 594.13 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 590.50 Td (0.75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 590.50 Td (0.42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.60 590.50 Td (\(2.61) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.30 590.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.60 590.50 Td (\(12.57) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 590.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 590.50 Td (1.82) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 577.50 Td (Diluted) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 88.00 581.13 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 577.50 Td (0.71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 577.50 Td (0.41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 415.60 577.50 Td (\(2.61) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.30 577.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.60 577.50 Td (\(12.57) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 577.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 577.50 Td (1.81) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 564.50 Td (Dividends declared per common share) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 175.07 568.13 Td (\(2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.30 564.50 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.30 564.50 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 424.30 564.50 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.30 564.50 Td (0.1875) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 564.50 Td (0.25) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 551.50 Td (W) Tj ET Q q 0 0 0 rg BT 59.23 551.50 Td (eighted average number of common shares outstanding) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 538.50 Td (Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.30 538.50 Td (432,483) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 538.50 Td (390,928) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 538.50 Td (373,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 538.50 Td (348,802) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 538.50 Td (348,962) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 525.50 Td (Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.30 525.50 Td (456,169) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 525.50 Td (395,921) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 525.50 Td (373,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 525.50 Td (348,802) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 525.50 Td (351,167) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 512.48 Td (Consolidated Statements of Cash Flows data) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 499.50 Td (Cash provided by \(used in\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 486.50 Td (Operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.00 486.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.30 486.50 Td (529,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.00 486.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 486.50 Td (267,143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.00 486.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 486.50 Td (219,223) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.00 486.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 486.50 Td (864,304) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.00 486.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.25 486.50 Td (1,222,825) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 473.50 Td (Investing activities) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 124.65 477.13 Td (\(3\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.60 473.50 Td (\(333,276) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 473.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.60 473.50 Td (\(356,814) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.30 473.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 403.60 473.50 Td (\(204,663) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.30 473.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.60 473.50 Td (\(549,730) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 473.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.60 473.50 Td (\(1,076,179) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 473.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 460.50 Td (Financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 277.60 460.50 Td (\(157,452) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.30 460.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.30 460.50 Td (88,613) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 407.60 460.50 Td (\(15,012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.30 460.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 466.60 460.50 Td (\(334,460) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 495.30 460.50 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 460.50 Td (\(135,104) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 460.50 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 447.48 Td (Pr) Tj ET Q q 0 0 0 rg BT 60.37 447.48 Td (oduction \(average daily\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 434.50 Td (Oil \(Bbls\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.30 434.50 Td (58,532) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.30 434.50 Td (58,410) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.30 434.50 Td (61,440) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.30 434.50 Td (69,165) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 434.50 Td (70,606) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 421.50 Td (Natural gas \(Mcf\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.30 421.50 Td (10,854) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.30 421.50 Td (1) Tj ET Q q 0 0 0 rg BT 351.30 421.50 Td (1,329) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.30 421.50 Td (15,378) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.30 421.50 Td (22,172) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 421.50 Td (22,955) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 408.50 Td (BOE \(6:1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.30 408.50 Td (60,341) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.30 408.50 Td (60,298) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.30 408.50 Td (64,003) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.30 408.50 Td (72,861) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 408.50 Td (74,432) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 395.48 Td (Unit sales prices � excluding impact of derivative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 387.48 Td (settlements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 374.50 Td (Oil \(per Bbl\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.00 374.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.30 374.50 Td (66.1) Tj ET Q q 0 0 0 rg BT 302.30 374.50 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.00 374.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 374.50 Td (50.64) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.00 374.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.30 374.50 Td (41.12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.00 374.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.30 374.50 Td (47.30) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.00 374.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 374.50 Td (90.74) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 361.50 Td (Natural gas \(per Mcf\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 361.50 Td (2.58) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 361.50 Td (2.41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 361.50 Td (1.98) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 361.50 Td (2.35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 361.50 Td (4.07) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 348.48 Td (Unit sales prices � including impact of derivative) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 340.48 Td (settlements) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 327.50 Td (Oil \(per Bbl\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.00 327.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.30 327.50 Td (57.91) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.00 327.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 327.50 Td (48.40) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.00 327.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.30 327.50 Td (44.86) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.00 327.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.30 327.50 Td (67.41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.00 327.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 327.50 Td (90.82) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 314.50 Td (Natural gas \(per Mcf\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 314.50 Td (2.58) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 314.50 Td (2.41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 314.50 Td (1.98) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 314.50 Td (2.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 314.50 Td (3.99) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 301.48 Td (Costs per) Tj ET Q q 0 0 0 rg BT 84.15 301.48 Td ( BOE) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 288.50 Td (Lease operating expenses) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 145.74 292.13 Td (\(4\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.00 288.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.30 288.50 Td (22.24) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 316.00 288.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 351.30 288.50 Td (20.35) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 379.00 288.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.30 288.50 Td (17.71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 442.00 288.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.30 288.50 Td (19.37) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 505.00 288.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 288.50 Td (23.84) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 275.50 Td (T) Tj ET Q q 0 0 0 rg BT 68.61 275.50 Td (axes other than income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 275.50 Td (4.75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 275.50 Td (3.96) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 275.50 Td (3.33) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 275.50 Td (4.13) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 275.50 Td (6.25) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 262.50 Td (General and administrative expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 262.50 Td (3.25) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 262.50 Td (4.63) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 418.30 262.50 Td (4.69) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 262.50 Td (5.44) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 544.30 262.50 Td (5.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 249.50 Td (Depletion, depreciation, and amortization) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 197.06 253.13 Td (\(5\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 292.30 249.50 Td (9.83) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.30 249.50 Td (9.44) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 414.30 249.50 Td (36.12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.30 249.50 Td (19.99) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 249.50 Td (21.83) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 236.48 Td (Pr) Tj ET Q q 0 0 0 rg BT 60.29 236.48 Td (oved oil and natural gas r) Tj ET Q q 0 0 0 rg BT 147.49 236.48 Td (eserves) Tj ET Q BT /F2 8.00 Tf ET BT /F2 5.20 Tf ET q 0 0 0 rg BT 171.92 240.11 Td (\(6\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 223.50 Td (Oil \(MBbls\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.30 223.50 Td (255,042) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 223.50 Td (252,625) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 223.50 Td (247,103) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 223.50 Td (282,250) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 223.50 Td (362,335) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 210.50 Td (Natural gas \(MMcf\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 284.30 210.50 Td (43,008) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 347.30 210.50 Td (42,721) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 410.30 210.50 Td (44,315) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 473.30 210.50 Td (38,305) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 210.50 Td (452,402) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 197.50 Td (MBOE \(6:1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 280.30 197.50 Td (262,210) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 343.30 197.50 Td (259,745) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 197.50 Td (254,489) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 469.30 197.50 Td (288,634) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 197.50 Td (437,735) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 184.48 Td (Pr) Tj ET Q q 0 0 0 rg BT 60.37 184.48 Td (oved carbon dioxide r) Tj ET Q q 0 0 0 rg BT 134.67 184.48 Td (eserves) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 171.50 Td (Gulf Coast region \(MMcf\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 149.09 175.13 Td (\(7\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.25 171.50 Td (4,982,440) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.25 171.50 Td (5,164,741) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.25 171.50 Td (5,332,576) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.25 171.50 Td (5,501,175) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.25 171.50 Td (5,697,642) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 158.50 Td (Rocky Mountain region \(MMcf\)) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 168.20 162.13 Td (\(8\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.25 158.50 Td (1,155,538) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.25 158.50 Td (1,187,787) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 400.25 158.50 Td (1,214,428) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.25 158.50 Td (1,237,603) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.25 158.50 Td (3,035,286) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 145.48 Td (Consolidated Balance Sheets data) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 132.50 Td (T) Tj ET Q q 0 0 0 rg BT 68.61 132.50 Td (otal assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 253.00 132.50 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 274.25 132.50 Td (4,723,222) 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rg BT 67.50 582.60 Td (related ) Tj ET Q q 0 0 0 rg BT 96.17 582.60 Td (insurance ) Tj ET Q q 0 0 0 rg BT 135.96 582.60 Td (recoveries ) Tj ET Q q 0 0 0 rg BT 178.51 582.60 Td (recorded ) Tj ET Q q 0 0 0 rg BT 214.96 582.60 Td (to ) Tj ET Q q 0 0 0 rg BT 224.20 582.60 Td (remediate ) Tj ET Q q 0 0 0 rg BT 265.09 582.60 Td (an ) Tj ET Q q 0 0 0 rg BT 276.00 582.60 Td (area ) Tj ET Q q 0 0 0 rg BT 294.12 582.60 Td (of ) Tj ET Q q 0 0 0 rg BT 303.92 582.60 Td (Delhi ) Tj ET Q q 0 0 0 rg BT 327.60 582.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 349.63 582.60 Td (in ) Tj ET Q q 0 0 0 rg BT 358.88 582.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 380.35 582.60 Td (and ) Tj ET Q q 0 0 0 rg BT 396.25 582.60 Td (2015, ) Tj ET Q q 0 0 0 rg BT 420.22 582.60 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 433.35 582.60 Td (a ) Tj ET Q q 0 0 0 rg BT 439.26 582.60 Td (reimbursement ) Tj ET Q q 0 0 0 rg BT 500.71 582.60 Td (for ) Tj ET Q q 0 0 0 rg BT 513.84 582.60 Td (a ) Tj ET Q q 0 0 0 rg BT 519.75 582.60 Td (retroactive ) Tj 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558.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 84.45 546.60 Td (lease ) Tj ET Q q 0 0 0 rg BT 106.94 546.60 Td (operating ) Tj ET Q q 0 0 0 rg BT 147.22 546.60 Td (expenses ) Tj ET Q q 0 0 0 rg BT 185.83 546.60 Td (per ) Tj ET Q q 0 0 0 rg BT 201.10 546.60 Td (BOE ) Tj ET Q q 0 0 0 rg BT 223.61 546.60 Td (would ) Tj ET Q q 0 0 0 rg BT 251.12 546.60 Td (have ) Tj ET Q q 0 0 0 rg BT 272.51 546.60 Td (averaged ) Tj ET Q q 0 0 0 rg BT 311.10 546.60 Td ($19.88 ) Tj ET Q q 0 0 0 rg BT 341.11 546.60 Td (and ) Tj ET Q q 0 0 0 rg BT 358.06 546.60 Td ($24.10 ) Tj ET Q q 0 0 0 rg BT 388.07 546.60 Td (for ) Tj ET Q q 0 0 0 rg BT 402.24 546.60 Td (the ) Tj ET Q q 0 0 0 rg BT 416.97 546.60 Td (years ) Tj ET Q q 0 0 0 rg BT 440.58 546.60 Td (ended ) Tj ET Q q 0 0 0 rg BT 466.96 546.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 525.56 546.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 548.07 546.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 534.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 92.50 534.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 140.16 534.60 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 510.60 Td (\(5\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 510.60 Td (Depletion, ) Tj ET Q q 0 0 0 rg BT 112.72 510.60 Td (depreciation, ) Tj ET Q q 0 0 0 rg BT 167.93 510.60 Td (and ) Tj ET Q q 0 0 0 rg BT 185.66 510.60 Td (amortization ) Tj ET Q q 0 0 0 rg BT 239.48 510.60 Td (during ) Tj ET Q q 0 0 0 rg BT 268.88 510.60 Td (the ) Tj ET Q q 0 0 0 rg BT 284.38 510.60 Td (year ) Tj ET Q q 0 0 0 rg BT 304.88 510.60 Td (ended ) Tj ET Q q 0 0 0 rg BT 332.05 510.60 Td (December ) Tj ET Q q 0 0 0 rg BT 376.42 510.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 392.21 510.60 Td (2016 ) Tj ET Q q 0 0 0 rg BT 415.50 510.60 Td (includes ) Tj ET Q q 0 0 0 rg BT 452.11 510.60 Td (an ) Tj ET Q q 0 0 0 rg BT 464.84 510.60 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 513.08 510.60 Td (depreciation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 498.60 Td (char) Tj ET Q q 0 0 0 rg BT 84.53 498.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 96.46 498.60 Td (of ) Tj ET Q q 0 0 0 rg BT 107.29 498.60 Td ($591.0 ) Tj ET Q q 0 0 0 rg BT 137.29 498.60 Td (million, ) Tj ET Q q 0 0 0 rg BT 171.19 498.60 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.02 498.60 Td ($25.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.52 498.60 Td ( ) Tj ET Q q 0 0 0 rg BT 212.02 498.60 Td (per ) Tj ET Q q 0 0 0 rg BT 227.29 498.60 Td (BOE, ) Tj ET Q q 0 0 0 rg BT 252.29 498.60 Td (associated ) Tj ET Q q 0 0 0 rg BT 295.88 498.60 Td (with ) Tj ET Q q 0 0 0 rg BT 316.16 498.60 Td (the ) Tj ET Q q 0 0 0 rg BT 330.87 498.60 Td (Riley ) Tj ET Q q 0 0 0 rg BT 355.04 498.60 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 381.43 498.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 397.26 498.60 Td (processing ) Tj ET Q q 0 0 0 rg BT 442.52 498.60 Td (facility ) Tj ET Q q 0 0 0 rg BT 473.34 498.60 Td (and ) Tj ET Q q 0 0 0 rg BT 490.28 498.60 Td (related ) Tj ET Q q 0 0 0 rg BT 519.99 498.60 Td (assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.60 Td (\(6\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 474.60 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 109.56 474.60 Td (proved ) Tj ET Q q 0 0 0 rg BT 139.39 474.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 174.22 474.60 Td (as ) Tj ET Q q 0 0 0 rg BT 184.62 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 195.01 474.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 253.16 474.60 Td (2015, ) Tj ET Q q 0 0 0 rg BT 277.73 474.60 Td (reflect ) Tj ET Q q 0 0 0 rg BT 305.33 474.60 Td (negative ) Tj ET Q q 0 0 0 rg BT 341.27 474.60 Td (reserve ) Tj ET Q q 0 0 0 rg BT 372.20 474.60 Td (revisions ) Tj ET Q q 0 0 0 rg BT 410.38 474.60 Td (of ) Tj ET Q q 0 0 0 rg BT 420.77 474.60 Td (approximately ) Tj ET Q q 0 0 0 rg BT 480.60 474.60 Td (126 ) Tj ET Q q 0 0 0 rg BT 497.67 474.60 Td (MMBOE ) Tj ET Q q 0 0 0 rg BT 537.52 474.60 Td (\(29%\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 78.17 462.60 Td (2015 ) Tj ET Q q 0 0 0 rg BT 101.07 462.60 Td (due ) Tj ET Q q 0 0 0 rg BT 118.40 462.60 Td (to ) Tj ET Q q 0 0 0 rg BT 129.07 462.60 Td (declines ) Tj ET Q q 0 0 0 rg BT 164.73 462.60 Td (in ) Tj ET Q q 0 0 0 rg BT 175.40 462.60 Td (the ) Tj ET Q q 0 0 0 rg BT 190.52 462.60 Td (average ) Tj ET Q q 0 0 0 rg BT 224.49 462.60 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 317.36 462.60 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 356.92 462.60 Td (oil ) Tj ET Q q 0 0 0 rg BT 370.37 462.60 Td (price ) Tj ET Q q 0 0 0 rg BT 393.25 462.60 Td (used ) Tj ET Q q 0 0 0 rg BT 414.47 462.60 Td (to ) Tj ET Q q 0 0 0 rg BT 425.15 462.60 Td (estimate ) Tj ET Q q 0 0 0 rg BT 461.36 462.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 497.02 462.60 Td (from ) Tj ET Q q 0 0 0 rg BT 519.35 462.60 Td ($94.99 ) Tj ET Q q 0 0 0 rg BT 549.74 462.60 Td (per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 450.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 83.94 450.60 Td (at ) Tj ET Q q 0 0 0 rg BT 93.16 450.60 Td (December ) Tj ET Q q 0 0 0 rg BT 136.24 450.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 150.73 450.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 175.23 450.60 Td (to ) Tj ET Q q 0 0 0 rg BT 185.00 450.60 Td ($50.28 ) Tj ET Q q 0 0 0 rg BT 214.50 450.60 Td (per ) Tj ET Q q 0 0 0 rg BT 229.26 450.60 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 245.71 450.60 Td (at ) Tj ET Q q 0 0 0 rg BT 254.92 450.60 Td (December ) Tj ET Q q 0 0 0 rg BT 298.00 450.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 312.50 450.60 Td (2015. ) Tj ET Q q 0 0 0 rg BT 336.99 450.60 Td ( ) Tj ET Q q 0 0 0 rg BT 338.99 450.60 Td (In ) Tj ET Q q 0 0 0 rg BT 349.32 450.60 Td (addition, ) Tj ET Q q 0 0 0 rg BT 386.59 450.60 Td (the ) Tj ET Q q 0 0 0 rg BT 400.80 450.60 Td (average ) Tj ET Q q 0 0 0 rg BT 433.88 450.60 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 525.85 450.60 Td (NYMEX ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 438.60 Td (natural ) Tj ET Q q 0 0 0 rg BT 98.02 438.60 Td (gas ) Tj ET Q q 0 0 0 rg BT 114.11 438.60 Td (price ) Tj ET Q q 0 0 0 rg BT 136.85 438.60 Td (used ) Tj ET Q q 0 0 0 rg BT 157.93 438.60 Td (to ) Tj ET Q q 0 0 0 rg BT 168.47 438.60 Td (estimate ) Tj ET Q q 0 0 0 rg BT 204.55 438.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 240.06 438.60 Td (declined ) Tj ET Q q 0 0 0 rg BT 276.69 438.60 Td (from ) Tj ET Q q 0 0 0 rg BT 298.88 438.60 Td ($4.30 ) Tj ET Q q 0 0 0 rg BT 324.14 438.60 Td (per ) Tj ET Q q 0 0 0 rg BT 339.67 438.60 Td (MMBtu ) Tj ET Q q 0 0 0 rg BT 374.65 438.60 Td (at ) Tj ET Q q 0 0 0 rg BT 384.63 438.60 Td (December ) Tj ET Q q 0 0 0 rg BT 428.47 438.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 443.72 438.60 Td (2014, ) Tj ET Q q 0 0 0 rg BT 468.98 438.60 Td (to ) Tj ET Q q 0 0 0 rg BT 479.51 438.60 Td ($2.63 ) Tj ET Q q 0 0 0 rg BT 504.77 438.60 Td (per ) Tj ET Q q 0 0 0 rg BT 520.30 438.60 Td (MMBtu ) Tj ET Q q 0 0 0 rg BT 555.28 438.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 426.60 Td (December ) Tj ET Q q 0 0 0 rg BT 111.08 426.60 Td (31, ) Tj ET Q q 0 0 0 rg BT 126.08 426.60 Td (2015.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.60 Td (\(7\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.60 Td (Proved ) Tj ET Q q 0 0 0 rg BT 98.37 402.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 112.26 401.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.51 402.60 Td ( ) Tj ET Q q 0 0 0 rg BT 118.05 402.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 153.35 402.60 Td (in ) Tj ET Q q 0 0 0 rg BT 163.66 402.60 Td (the ) Tj ET Q q 0 0 0 rg BT 178.42 402.60 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 199.29 402.60 Td (Coast ) Tj ET Q q 0 0 0 rg BT 224.61 402.60 Td (region ) Tj ET Q q 0 0 0 rg BT 252.69 402.60 Td (consist ) Tj ET Q q 0 0 0 rg BT 283.01 402.60 Td (of ) Tj ET Q q 0 0 0 rg BT 293.88 402.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 329.18 402.60 Td (from ) Tj ET Q q 0 0 0 rg BT 351.15 402.60 Td (our ) Tj ET Q q 0 0 0 rg BT 367.02 402.60 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 408.99 402.60 Td (at ) Tj ET Q q 0 0 0 rg BT 418.75 402.60 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 452.95 402.60 Td (Dome ) Tj ET Q q 0 0 0 rg BT 479.92 402.60 Td (and ) Tj ET Q q 0 0 0 rg BT 496.90 402.60 Td (are ) Tj ET Q q 0 0 0 rg BT 511.65 402.60 Td (presented ) Tj ET Q q 0 0 0 rg BT 552.50 402.60 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 390.60 Td (a ) Tj ET Q q 0 0 0 rg BT 74.17 390.60 Td (gross ) Tj ET Q q 0 0 0 rg BT 97.52 390.60 Td (or ) Tj ET Q q 0 0 0 rg BT 108.08 390.60 Td (8/8ths ) Tj ET Q q 0 0 0 rg BT 134.77 390.60 Td (working ) Tj ET Q q 0 0 0 rg BT 170.33 390.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 202.00 390.60 Td (basis, ) Tj ET Q q 0 0 0 rg BT 226.73 390.60 Td (of ) Tj ET Q q 0 0 0 rg BT 237.29 390.60 Td (which ) Tj ET Q q 0 0 0 rg BT 263.97 390.60 Td (our ) Tj ET Q q 0 0 0 rg BT 279.53 390.60 Td (net ) Tj ET Q q 0 0 0 rg BT 293.98 390.60 Td (revenue ) Tj ET Q q 0 0 0 rg BT 327.86 390.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 359.53 390.60 Td (was ) Tj ET Q q 0 0 0 rg BT 377.31 390.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.31 390.60 Td (4.0 ) Tj ET Q q 0 0 0 rg BT 451.88 390.60 Td (T) Tj ET Q q 0 0 0 rg BT 457.29 390.60 Td (cf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.06 390.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.79 390.60 Td (4.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.29 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 484.36 390.60 Td (T) Tj ET Q q 0 0 0 rg BT 489.77 390.60 Td (cf, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.28 390.60 Td (4.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.78 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 516.85 390.60 Td (T) Tj ET Q q 0 0 0 rg BT 522.26 390.60 Td (cf, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.76 390.60 Td (4.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.26 390.60 Td ( ) Tj ET Q q 0 0 0 rg BT 549.33 390.60 Td (T) Tj ET Q q 0 0 0 rg BT 554.74 390.60 Td (cf ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 378.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.95 378.60 Td (4.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 97.45 378.60 Td ( ) Tj ET Q q 0 0 0 rg BT 100.24 378.60 Td (T) Tj ET Q q 0 0 0 rg BT 105.65 378.60 Td (cf ) Tj ET Q q 0 0 0 rg BT 116.43 378.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 126.66 378.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 185.75 378.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.75 378.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.26 378.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 231.26 378.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.77 378.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.77 378.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.28 378.60 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.28 378.60 Td ( ) Tj ET Q q 0 0 0 rg BT 285.29 378.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.74 378.60 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.74 378.60 Td (, ) Tj ET Q q 0 0 0 rg BT 328.25 378.60 Td (respectively) Tj ET Q q 0 0 0 rg BT 375.91 378.60 Td (, ) Tj ET Q q 0 0 0 rg BT 381.42 378.60 Td (and ) Tj ET Q q 0 0 0 rg BT 398.87 378.60 Td (include ) Tj ET Q q 0 0 0 rg BT 431.32 378.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 467.08 378.60 Td (dedicated ) Tj ET Q q 0 0 0 rg BT 508.41 378.60 Td (to ) Tj ET Q q 0 0 0 rg BT 519.19 378.60 Td (volumetric ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 366.60 Td (production ) Tj ET Q q 0 0 0 rg BT 113.24 366.60 Td (payments ) Tj ET Q q 0 0 0 rg BT 153.97 366.60 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.72 366.60 Td (3.1 ) Tj ET Q q 0 0 0 rg BT 179.63 366.60 Td (Bcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.07 366.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.98 366.60 Td (7.6 ) Tj ET Q q 0 0 0 rg BT 213.89 366.60 Td (Bcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 228.33 366.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 233.24 366.60 Td (12.3 ) Tj ET Q q 0 0 0 rg BT 253.15 366.60 Td (Bcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.59 366.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.50 366.60 Td (25.3 ) Tj ET Q q 0 0 0 rg BT 292.42 366.60 Td (Bcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.86 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 309.27 366.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.12 366.60 Td (9.3 ) Tj ET Q q 0 0 0 rg BT 341.03 366.60 Td (Bcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.47 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 357.88 366.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.51 366.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 426.01 366.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.01 366.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.92 366.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.92 366.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.83 366.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.83 366.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.74 366.60 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.74 366.60 Td ( ) Tj ET Q q 0 0 0 rg BT 523.15 366.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.00 366.60 Td (2014) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.00 366.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 354.60 Td (respectively ) Tj ET Q q 0 0 0 rg BT 118.31 354.60 Td (\(see ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 136.91 354.60 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 193.84 354.60 Td (CO) Tj ET Q BT /F4 10.00 Tf ET BT /F4 6.50 Tf ET q 0 0 0 rg BT 207.73 353.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.98 354.60 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 213.48 354.60 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 252.00 354.60 Td (es ) Tj ET Q q 0 0 0 rg BT 262.83 354.60 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.71 354.60 Td ( ) Tj ET Q q 0 0 0 rg BT 314.21 354.60 Td (to ) Tj ET Q q 0 0 0 rg BT 324.49 354.60 Td (the ) Tj ET Q q 0 0 0 rg BT 339.21 354.60 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 394.48 354.60 Td (Financial ) Tj ET Q q 0 0 0 rg BT 434.19 354.60 Td (Statements\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.60 Td (\(8\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 330.60 Td (Proved ) Tj ET Q q 0 0 0 rg BT 98.61 330.60 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 112.50 329.17 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.75 330.60 Td ( ) Tj ET Q q 0 0 0 rg BT 118.53 330.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 154.07 330.60 Td (in ) Tj ET Q q 0 0 0 rg BT 164.63 330.60 Td (the ) Tj ET Q q 0 0 0 rg BT 179.62 330.60 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 208.51 330.60 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 250.18 330.60 Td (region ) Tj ET Q q 0 0 0 rg BT 278.51 330.60 Td (consist ) Tj ET Q q 0 0 0 rg BT 309.06 330.60 Td (of ) Tj ET Q q 0 0 0 rg BT 320.17 330.60 Td (our ) Tj ET Q q 0 0 0 rg BT 336.28 330.60 Td (overriding ) Tj ET Q q 0 0 0 rg BT 380.72 330.60 Td (royalty ) Tj ET Q q 0 0 0 rg BT 411.82 330.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 444.04 330.60 Td (in ) Tj ET Q q 0 0 0 rg BT 454.59 330.60 Td (LaBar) Tj ET Q q 0 0 0 rg BT 479.40 330.60 Td (ge ) Tj ET Q q 0 0 0 rg BT 491.62 330.60 Td (Field ) Tj ET Q q 0 0 0 rg BT 514.95 330.60 Td (and ) Tj ET Q q 0 0 0 rg BT 532.17 330.60 Td (at ) Tj ET Q q 0 0 0 rg BT 542.17 330.60 Td (year) Tj ET Q q 0 0 0 rg BT 559.18 330.60 Td (-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 318.60 Td (end ) Tj ET Q q 0 0 0 rg BT 83.68 318.60 Td (2014 ) Tj ET Q q 0 0 0 rg BT 105.42 318.60 Td (our ) Tj ET Q q 0 0 0 rg BT 120.50 318.60 Td (reserves ) Tj ET Q q 0 0 0 rg BT 155.00 318.60 Td (at ) Tj ET Q q 0 0 0 rg BT 163.96 318.60 Td (Riley ) Tj ET Q q 0 0 0 rg BT 187.37 318.60 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 213.00 318.60 Td (\(presented ) Tj ET Q q 0 0 0 rg BT 256.39 318.60 Td (on ) Tj ET Q q 0 0 0 rg BT 268.13 318.60 Td (a ) Tj ET Q q 0 0 0 rg BT 274.31 318.60 Td (gross ) Tj ET Q q 0 0 0 rg BT 297.17 318.60 Td (\(8/8ths\) ) Tj ET Q q 0 0 0 rg BT 330.02 318.60 Td (basis\), ) Tj ET Q q 0 0 0 rg BT 357.59 318.60 Td (of ) Tj ET Q q 0 0 0 rg BT 367.67 318.60 Td (which ) Tj ET Q q 0 0 0 rg BT 393.85 318.60 Td (our ) Tj ET Q q 0 0 0 rg BT 408.92 318.60 Td (net ) Tj ET Q q 0 0 0 rg BT 422.88 318.60 Td (revenue ) Tj ET Q q 0 0 0 rg BT 456.27 318.60 Td (interest ) Tj ET Q q 0 0 0 rg BT 487.45 318.60 Td (was ) Tj ET Q q 0 0 0 rg BT 504.74 318.60 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 306.60 Td (1.2 ) Tj ET Q q 0 0 0 rg BT 81.29 306.60 Td (T) Tj ET Q q 0 0 0 rg BT 86.70 306.60 Td (cf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.47 306.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.37 306.60 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.87 306.60 Td ( ) Tj ET Q q 0 0 0 rg BT 112.16 306.60 Td (T) Tj ET Q q 0 0 0 rg BT 117.57 306.60 Td (cf, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.23 306.60 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.73 306.60 Td ( ) Tj ET Q q 0 0 0 rg BT 143.03 306.60 Td (T) Tj ET Q q 0 0 0 rg BT 148.44 306.60 Td (cf, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 160.10 306.60 Td (1.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.60 306.60 Td ( ) Tj ET Q q 0 0 0 rg BT 173.89 306.60 Td (T) Tj ET Q q 0 0 0 rg BT 179.30 306.60 Td (cf ) Tj ET Q q 0 0 0 rg BT 188.46 306.60 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.30 306.60 Td (2.6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.80 306.60 Td ( ) Tj ET Q q 0 0 0 rg BT 218.09 306.60 Td (T) Tj ET Q q 0 0 0 rg BT 223.50 306.60 Td (cf ) Tj ET Q q 0 0 0 rg BT 232.66 306.60 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.27 306.60 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 298.75 306.60 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.75 306.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.65 306.60 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.65 306.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.54 306.60 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.54 306.60 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.43 306.60 Td (2015) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (OVER) Tj ET Q q 0 0 0 rg BT 78.04 617.25 Td (VIEW) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 593.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 105.13 593.25 Td (is ) Tj ET Q q 0 0 0 rg BT 114.44 593.25 Td (an ) Tj ET Q q 0 0 0 rg BT 126.52 593.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 178.03 593.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 191.22 593.25 Td (and ) Tj ET Q q 0 0 0 rg BT 208.30 593.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 238.70 593.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 254.67 593.25 Td (company ) Tj ET Q q 0 0 0 rg BT 293.97 593.25 Td (with ) Tj ET Q q 0 0 0 rg BT 314.38 593.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 358.68 593.25 Td (focused ) Tj ET Q q 0 0 0 rg BT 392.42 593.25 Td (in ) Tj ET Q q 0 0 0 rg BT 402.83 593.25 Td (two ) Tj ET Q q 0 0 0 rg BT 420.47 593.25 Td (key ) Tj ET Q q 0 0 0 rg BT 437.55 593.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 477.95 593.25 Td (areas: ) Tj ET Q q 0 0 0 rg BT 503.91 593.25 Td (the ) Tj ET Q q 0 0 0 rg BT 518.76 593.25 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 539.73 593.25 Td (Coast ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.57 581.25 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 95.30 581.25 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 136.82 581.25 Td (regions. ) Tj ET Q q 0 0 0 rg BT 171.39 581.25 Td ( ) Tj ET Q q 0 0 0 rg BT 174.01 581.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 192.19 581.25 Td (goal ) Tj ET Q q 0 0 0 rg BT 212.04 581.25 Td (is ) Tj ET Q q 0 0 0 rg BT 221.34 581.25 Td (to ) Tj ET Q q 0 0 0 rg BT 231.74 581.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 267.13 581.25 Td (the ) Tj ET Q q 0 0 0 rg BT 281.97 581.25 Td (value ) Tj ET Q q 0 0 0 rg BT 306.26 581.25 Td (of ) Tj ET Q q 0 0 0 rg BT 317.21 581.25 Td (our ) Tj ET Q q 0 0 0 rg BT 333.17 581.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 375.79 581.25 Td (through ) Tj ET Q q 0 0 0 rg BT 409.52 581.25 Td (a ) Tj ET Q q 0 0 0 rg BT 416.59 581.25 Td (combination ) Tj ET Q q 0 0 0 rg BT 469.21 581.25 Td (of ) Tj ET Q q 0 0 0 rg BT 480.17 581.25 Td (exploitation, ) Tj ET Q q 0 0 0 rg BT 533.06 581.25 Td (drilling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.05 569.25 Td (proven ) Tj ET Q q 0 0 0 rg BT 95.93 569.25 Td (engineering ) Tj ET Q q 0 0 0 rg BT 145.25 569.25 Td (extraction ) Tj ET Q q 0 0 0 rg BT 187.34 569.25 Td (practices, ) Tj ET Q q 0 0 0 rg BT 227.49 569.25 Td (with ) Tj ET Q q 0 0 0 rg BT 247.38 569.25 Td (the ) Tj ET Q q 0 0 0 rg BT 261.71 569.25 Td (most ) Tj ET Q q 0 0 0 rg BT 283.27 569.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 327.60 569.25 Td (emphasis ) Tj ET Q q 0 0 0 rg BT 366.93 569.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 399.58 569.25 Td (to ) Tj ET Q q 0 0 0 rg BT 409.47 569.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 423.37 567.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.61 569.25 Td ( ) Tj ET Q q 0 0 0 rg BT 428.73 569.25 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 468.60 569.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 481.27 569.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 518.35 569.25 Td (operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 545.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 83.26 545.25 Td (Price ) Tj ET Q q 0 0 0 rg BT 107.88 545.25 Td (Impact ) Tj ET Q q 0 0 0 rg BT 140.85 545.25 Td (on ) Tj ET Q q 0 0 0 rg BT 153.83 545.25 Td (Our) Tj ET Q q 0 0 0 rg BT 171.43 545.25 Td ( ) Tj ET Q q 0 0 0 rg BT 173.85 545.25 Td (Business.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.04 545.25 Td ( ) Tj ET Q q 0 0 0 rg BT 215.46 545.25 Td ( ) Tj ET Q q 0 0 0 rg BT 217.88 545.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 235.85 545.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 273.25 545.25 Td (results ) Tj ET Q q 0 0 0 rg BT 301.78 545.25 Td (are ) Tj ET Q q 0 0 0 rg BT 316.41 545.25 Td (significantly ) Tj ET Q q 0 0 0 rg BT 368.82 545.25 Td (impacted ) Tj ET Q q 0 0 0 rg BT 407.89 545.25 Td (by ) Tj ET Q q 0 0 0 rg BT 420.31 545.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 454.94 545.25 Td (in ) Tj ET Q q 0 0 0 rg BT 465.14 545.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 478.12 545.25 Td (prices, ) Tj ET Q q 0 0 0 rg BT 506.92 545.25 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.67 545.25 Td (97%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.00 545.25 Td ( ) Tj ET Q q 0 0 0 rg BT 538.42 545.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.17 545.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (production ) Tj ET Q q 0 0 0 rg BT 95.52 533.25 Td (is ) Tj ET Q q 0 0 0 rg BT 104.89 533.25 Td (oil. ) Tj ET Q q 0 0 0 rg BT 120.65 533.25 Td ( ) Tj ET Q q 0 0 0 rg BT 123.35 533.25 Td (Over ) Tj ET Q q 0 0 0 rg BT 146.04 533.25 Td (the ) Tj ET Q q 0 0 0 rg BT 160.95 533.25 Td (last ) Tj ET Q q 0 0 0 rg BT 177.54 533.25 Td (year) Tj ET Q q 0 0 0 rg BT 194.35 533.25 Td (, ) Tj ET Q q 0 0 0 rg BT 199.55 533.25 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 238.91 533.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 252.17 533.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 278.74 533.25 Td (gradually ) Tj ET Q q 0 0 0 rg BT 319.21 533.25 Td (improved ) Tj ET Q q 0 0 0 rg BT 360.23 533.25 Td (from ) Tj ET Q q 0 0 0 rg BT 382.37 533.25 Td (around ) Tj ET Q q 0 0 0 rg BT 412.83 533.25 Td ($60 ) Tj ET Q q 0 0 0 rg BT 430.53 533.25 Td (per ) Tj ET Q q 0 0 0 rg BT 446.00 533.25 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 463.15 533.25 Td (at ) Tj ET Q q 0 0 0 rg BT 473.07 533.25 Td (December ) Tj ET Q q 0 0 0 rg BT 516.85 533.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 532.05 533.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 554.75 533.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.25 Td (around ) Tj ET Q q 0 0 0 rg BT 80.38 521.25 Td ($70 ) Tj ET Q q 0 0 0 rg BT 98.49 521.25 Td (per ) Tj ET Q q 0 0 0 rg BT 114.38 521.25 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 131.94 521.25 Td (at ) Tj ET Q q 0 0 0 rg BT 142.27 521.25 Td (the ) Tj ET Q q 0 0 0 rg BT 157.60 521.25 Td (end ) Tj ET Q q 0 0 0 rg BT 175.15 521.25 Td (of ) Tj ET Q q 0 0 0 rg BT 186.59 521.25 Td (September ) Tj ET Q q 0 0 0 rg BT 232.47 521.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 258.08 521.25 Td (before ) Tj ET Q q 0 0 0 rg BT 286.73 521.25 Td (retreating ) Tj ET Q q 0 0 0 rg BT 328.15 521.25 Td (to ) Tj ET Q q 0 0 0 rg BT 339.04 521.25 Td (the ) Tj ET Q q 0 0 0 rg BT 354.37 521.25 Td (low-$40�) Tj ET Q q 0 0 0 rg BT 390.48 521.25 Td (s ) Tj ET Q q 0 0 0 rg BT 397.49 521.25 Td (in ) Tj ET Q q 0 0 0 rg BT 408.38 521.25 Td (late ) Tj ET Q q 0 0 0 rg BT 425.92 521.25 Td (December ) Tj ET Q q 0 0 0 rg BT 470.12 521.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 495.73 521.25 Td ( ) Tj ET Q q 0 0 0 rg BT 498.85 521.25 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 538.62 521.25 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.25 Td (averaged ) Tj ET Q q 0 0 0 rg BT 87.76 509.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 147.69 509.25 Td ($65 ) Tj ET Q q 0 0 0 rg BT 164.87 509.25 Td (per ) Tj ET Q q 0 0 0 rg BT 179.81 509.25 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 196.43 509.25 Td (in ) Tj ET Q q 0 0 0 rg BT 206.38 509.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 231.06 509.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 272.66 509.25 Td (to ) Tj ET Q q 0 0 0 rg BT 282.61 509.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 342.54 509.25 Td ($51 ) Tj ET Q q 0 0 0 rg BT 359.72 509.25 Td (per ) Tj ET Q q 0 0 0 rg BT 374.66 509.25 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 391.28 509.25 Td (in ) Tj ET Q q 0 0 0 rg BT 401.23 509.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 425.91 509.25 Td (and ) Tj ET Q q 0 0 0 rg BT 442.52 509.25 Td ($43 ) Tj ET Q q 0 0 0 rg BT 459.70 509.25 Td (per ) Tj ET Q q 0 0 0 rg BT 474.64 509.25 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 491.26 509.25 Td (in ) Tj ET Q q 0 0 0 rg BT 501.21 509.25 Td (2016. ) Tj ET Q q 0 0 0 rg BT 525.89 509.25 Td ( ) Tj ET Q q 0 0 0 rg BT 528.06 509.25 Td (Changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.82 497.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 72.93 497.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 99.35 497.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 129.11 497.25 Td (all ) Tj ET Q q 0 0 0 rg BT 141.65 497.25 Td (aspects ) Tj ET Q q 0 0 0 rg BT 173.07 497.25 Td (of ) Tj ET Q q 0 0 0 rg BT 183.95 497.25 Td (our ) Tj ET Q q 0 0 0 rg BT 199.83 497.25 Td (business; ) Tj ET Q q 0 0 0 rg BT 239.04 497.25 Td (most ) Tj ET Q q 0 0 0 rg BT 261.04 497.25 Td (notably ) Tj ET Q q 0 0 0 rg BT 293.58 497.25 Td (our ) Tj ET Q q 0 0 0 rg BT 309.46 497.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 329.77 497.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 350.65 497.25 Td (from ) Tj ET Q q 0 0 0 rg BT 372.63 497.25 Td (operations, ) Tj ET Q q 0 0 0 rg BT 419.33 497.25 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 459.92 497.25 Td (and ) Tj ET Q q 0 0 0 rg BT 476.90 497.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 506.10 497.25 Td (allocation ) Tj ET Q q 0 0 0 rg BT 548.07 497.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (budgeting ) Tj ET Q q 0 0 0 rg BT 92.38 485.25 Td (decisions. ) Tj ET Q q 0 0 0 rg BT 134.99 485.25 Td ( ) Tj ET Q q 0 0 0 rg BT 137.88 485.25 Td (For ) Tj ET Q q 0 0 0 rg BT 154.66 485.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 180.05 485.25 Td (we ) Tj ET Q q 0 0 0 rg BT 194.60 485.25 Td (remained ) Tj ET Q q 0 0 0 rg BT 234.69 485.25 Td (disciplined ) Tj ET Q q 0 0 0 rg BT 281.46 485.25 Td (with ) Tj ET Q q 0 0 0 rg BT 302.13 485.25 Td (our ) Tj ET Q q 0 0 0 rg BT 318.35 485.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 347.89 485.25 Td (spending ) Tj ET Q q 0 0 0 rg BT 386.89 485.25 Td (despite ) Tj ET Q q 0 0 0 rg BT 418.11 485.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 431.55 485.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 458.32 485.25 Td (averaging ) Tj ET Q q 0 0 0 rg BT 500.63 485.25 Td (higher ) Tj ET Q q 0 0 0 rg BT 529.07 485.25 Td (than ) Tj ET Q q 0 0 0 rg BT 549.17 485.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.25 Td (budgeted ) Tj ET Q q 0 0 0 rg BT 87.87 473.25 Td (levels ) Tj ET Q q 0 0 0 rg BT 112.90 473.25 Td (throughout ) Tj ET Q q 0 0 0 rg BT 158.50 473.25 Td (most ) Tj ET Q q 0 0 0 rg BT 179.66 473.25 Td (of ) Tj ET Q q 0 0 0 rg BT 189.70 473.25 Td (the ) Tj ET Q q 0 0 0 rg BT 203.63 473.25 Td (year) Tj ET Q q 0 0 0 rg BT 220.29 473.25 Td (. ) Tj ET Q q 0 0 0 rg BT 224.50 473.25 Td ( ) Tj ET Q q 0 0 0 rg BT 226.21 473.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 243.47 473.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 265.18 473.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 293.55 473.25 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 342.46 473.25 Td (level ) Tj ET Q q 0 0 0 rg BT 363.60 473.25 Td (of ) Tj ET Q q 0 0 0 rg BT 373.65 473.25 Td ($322.7 ) Tj ET Q q 0 0 0 rg BT 402.86 473.25 Td (million ) Tj ET Q q 0 0 0 rg BT 433.46 473.25 Td (was ) Tj ET Q q 0 0 0 rg BT 450.72 473.25 Td (within ) Tj ET Q q 0 0 0 rg BT 477.99 473.25 Td (our ) Tj ET Q q 0 0 0 rg BT 493.03 473.25 Td (original ) Tj ET Q q 0 0 0 rg BT 525.85 473.25 Td (budgeted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.25 Td (range ) Tj ET Q q 0 0 0 rg BT 75.72 461.25 Td (of ) Tj ET Q q 0 0 0 rg BT 88.07 461.25 Td ($300 ) Tj ET Q q 0 0 0 rg BT 112.09 461.25 Td (million ) Tj ET Q q 0 0 0 rg BT 144.99 461.25 Td (to ) Tj ET Q q 0 0 0 rg BT 156.79 461.25 Td ($325 ) Tj ET Q q 0 0 0 rg BT 180.80 461.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 216.21 461.25 Td (and ) Tj ET Q q 0 0 0 rg BT 234.67 461.25 Td (we ) Tj ET Q q 0 0 0 rg BT 250.34 461.25 Td (generated ) Tj ET Q q 0 0 0 rg BT 293.22 461.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 355.00 461.25 Td ($80 ) Tj ET Q q 0 0 0 rg BT 374.01 461.25 Td (million ) Tj ET Q q 0 0 0 rg BT 406.92 461.25 Td (of ) Tj ET Q q 0 0 0 rg BT 419.27 461.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 449.38 461.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 471.17 461.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 493.51 461.25 Td (after ) Tj ET Q q 0 0 0 rg BT 515.84 461.25 Td (considering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.25 Td (development ) Tj ET Q q 0 0 0 rg BT 102.53 449.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 130.56 449.25 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 185.54 449.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 230.22 449.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 261.04 449.25 Td (and ) Tj ET Q q 0 0 0 rg BT 276.86 449.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 307.67 449.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 347.38 449.25 Td (treated ) Tj ET Q q 0 0 0 rg BT 375.96 449.25 Td (as ) Tj ET Q q 0 0 0 rg BT 385.67 449.25 Td (repayment ) Tj ET Q q 0 0 0 rg BT 429.25 449.25 Td (of ) Tj ET Q q 0 0 0 rg BT 438.97 449.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 457.56 449.25 Td (in ) Tj ET Q q 0 0 0 rg BT 466.72 449.25 Td (our ) Tj ET Q q 0 0 0 rg BT 481.43 449.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 517.79 449.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 565.01 449.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.54 437.25 Td (ith ) Tj ET Q q 0 0 0 rg BT 72.21 437.25 Td (this ) Tj ET Q q 0 0 0 rg BT 89.78 437.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 150.65 437.25 Td ($80 ) Tj ET Q q 0 0 0 rg BT 168.77 437.25 Td (million ) Tj ET Q q 0 0 0 rg BT 200.78 437.25 Td (of ) Tj ET Q q 0 0 0 rg BT 212.22 437.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 241.44 437.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 262.32 437.25 Td (flow) Tj ET Q q 0 0 0 rg BT 280.00 437.25 Td (, ) Tj ET Q q 0 0 0 rg BT 285.62 437.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 305.96 437.25 Td (exchanges ) Tj ET Q q 0 0 0 rg BT 350.72 437.25 Td (and ) Tj ET Q q 0 0 0 rg BT 368.27 437.25 Td (conversion ) Tj ET Q q 0 0 0 rg BT 415.27 437.25 Td (of ) Tj ET Q q 0 0 0 rg BT 426.71 437.25 Td (convertible ) Tj ET Q q 0 0 0 rg BT 474.81 437.25 Td (debt, ) Tj ET Q q 0 0 0 rg BT 497.64 437.25 Td (we ) Tj ET Q q 0 0 0 rg BT 512.42 437.25 Td (were ) Tj ET Q q 0 0 0 rg BT 534.97 437.25 Td (able ) Tj ET Q q 0 0 0 rg BT 554.74 437.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (reduce ) Tj ET Q q 0 0 0 rg BT 78.65 425.25 Td (our ) Tj ET Q q 0 0 0 rg BT 94.48 425.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 114.19 425.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 152.23 425.25 Td (by ) Tj ET Q q 0 0 0 rg BT 164.73 425.25 Td ($243.2 ) Tj ET Q q 0 0 0 rg BT 194.73 425.25 Td (million ) Tj ET Q q 0 0 0 rg BT 226.13 425.25 Td (during ) Tj ET Q q 0 0 0 rg BT 254.73 425.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 279.73 425.25 Td (helping ) Tj ET Q q 0 0 0 rg BT 312.23 425.25 Td (to ) Tj ET Q q 0 0 0 rg BT 322.51 425.25 Td (further ) Tj ET Q q 0 0 0 rg BT 352.21 425.25 Td (improve ) Tj ET Q q 0 0 0 rg BT 388.04 425.25 Td (the ) Tj ET Q q 0 0 0 rg BT 402.76 425.25 Td (Company�) Tj ET Q q 0 0 0 rg BT 444.42 425.25 Td (s ) Tj ET Q q 0 0 0 rg BT 450.81 425.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 488.29 425.25 Td (condition.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 401.25 Td (During ) Tj ET Q q 0 0 0 rg BT 98.14 401.25 Td (the ) Tj ET Q q 0 0 0 rg BT 112.66 401.25 Td (first ) Tj ET Q q 0 0 0 rg BT 131.08 401.25 Td (two ) Tj ET Q q 0 0 0 rg BT 148.39 401.25 Td (months ) Tj ET Q q 0 0 0 rg BT 180.15 401.25 Td (of ) Tj ET Q q 0 0 0 rg BT 190.79 401.25 Td (2019, ) Tj ET Q q 0 0 0 rg BT 215.59 401.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 228.46 401.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 254.64 401.25 Td (have ) Tj ET Q q 0 0 0 rg BT 275.83 401.25 Td (rebounded ) Tj ET Q q 0 0 0 rg BT 320.35 401.25 Td (from ) Tj ET Q q 0 0 0 rg BT 342.09 401.25 Td (the ) Tj ET Q q 0 0 0 rg BT 356.62 401.25 Td (low-$40s ) Tj ET Q q 0 0 0 rg BT 396.15 401.25 Td (at ) Tj ET Q q 0 0 0 rg BT 405.67 401.25 Td (the ) Tj ET Q q 0 0 0 rg BT 420.20 401.25 Td (end ) Tj ET Q q 0 0 0 rg BT 436.95 401.25 Td (of ) Tj ET Q q 0 0 0 rg BT 447.58 401.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 469.89 401.25 Td (to ) Tj ET Q q 0 0 0 rg BT 479.98 401.25 Td (a ) Tj ET Q q 0 0 0 rg BT 486.73 401.25 Td (level ) Tj ET Q q 0 0 0 rg BT 508.47 401.25 Td (in ) Tj ET Q q 0 0 0 rg BT 518.56 401.25 Td (the ) Tj ET Q q 0 0 0 rg BT 533.08 401.25 Td (low-to-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.25 Td (mid ) Tj ET Q q 0 0 0 rg BT 67.22 389.25 Td ($50s ) Tj ET Q q 0 0 0 rg BT 88.27 389.25 Td (and ) Tj ET Q q 0 0 0 rg BT 104.88 389.25 Td (for ) Tj ET Q q 0 0 0 rg BT 118.70 389.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 140.86 389.25 Td (we ) Tj ET Q q 0 0 0 rg BT 154.69 389.25 Td (have ) Tj ET Q q 0 0 0 rg BT 175.73 389.25 Td (based ) Tj ET Q q 0 0 0 rg BT 200.66 389.25 Td (our ) Tj ET Q q 0 0 0 rg BT 216.15 389.25 Td (budget ) Tj ET Q q 0 0 0 rg BT 245.53 389.25 Td (on ) Tj ET Q q 0 0 0 rg BT 257.69 389.25 Td (a ) Tj ET Q q 0 0 0 rg BT 264.29 389.25 Td (flat ) Tj ET Q q 0 0 0 rg BT 279.78 389.25 Td ($50 ) Tj ET Q q 0 0 0 rg BT 296.95 389.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 309.67 389.25 Td (price. ) Tj ET Q q 0 0 0 rg BT 334.31 389.25 Td ( ) Tj ET Q q 0 0 0 rg BT 336.48 389.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 354.19 389.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 376.36 389.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 405.17 389.25 Td (spending ) Tj ET Q q 0 0 0 rg BT 443.44 389.25 Td (is ) Tj ET Q q 0 0 0 rg BT 452.27 389.25 Td (budgeted ) Tj ET Q q 0 0 0 rg BT 491.09 389.25 Td (in ) Tj ET Q q 0 0 0 rg BT 501.03 389.25 Td (a ) Tj ET Q q 0 0 0 rg BT 507.63 389.25 Td (range ) Tj ET Q q 0 0 0 rg BT 532.00 389.25 Td (of ) Tj ET Q q 0 0 0 rg BT 542.50 389.25 Td ($240 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.25 Td (million ) Tj ET Q q 0 0 0 rg BT 81.13 377.25 Td (to ) Tj ET Q q 0 0 0 rg BT 91.64 377.25 Td ($260 ) Tj ET Q q 0 0 0 rg BT 114.38 377.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 148.50 377.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 190.67 377.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 236.72 377.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 268.89 377.25 Td (and ) Tj ET Q q 0 0 0 rg BT 286.06 377.25 Td (acquisitions, ) Tj ET Q q 0 0 0 rg BT 339.07 377.25 Td (which ) Tj ET Q q 0 0 0 rg BT 366.24 377.25 Td (is ) Tj ET Q q 0 0 0 rg BT 375.65 377.25 Td (roughly ) Tj ET Q q 0 0 0 rg BT 409.49 377.25 Td (a ) Tj ET Q q 0 0 0 rg BT 416.67 377.25 Td (23% ) Tj ET Q q 0 0 0 rg BT 437.73 377.25 Td (decrease ) Tj ET Q q 0 0 0 rg BT 474.88 377.25 Td (from ) Tj ET Q q 0 0 0 rg BT 497.06 377.25 Td (our ) Tj ET Q q 0 0 0 rg BT 513.12 377.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 535.86 377.25 Td (capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.25 Td (spending ) Tj ET Q q 0 0 0 rg BT 88.03 365.25 Td (levels. ) Tj ET Q q 0 0 0 rg BT 116.28 365.25 Td ( ) Tj ET Q q 0 0 0 rg BT 118.17 365.25 Td (Assuming ) Tj ET Q q 0 0 0 rg BT 161.15 365.25 Td (a ) Tj ET Q q 0 0 0 rg BT 168.02 365.25 Td (flat ) Tj ET Q q 0 0 0 rg BT 183.76 365.25 Td ($50 ) Tj ET Q q 0 0 0 rg BT 201.19 365.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 214.17 365.25 Td (price, ) Tj ET Q q 0 0 0 rg BT 239.08 365.25 Td (we ) Tj ET Q q 0 0 0 rg BT 253.16 365.25 Td (expect ) Tj ET Q q 0 0 0 rg BT 281.68 365.25 Td (that ) Tj ET Q q 0 0 0 rg BT 299.09 365.25 Td (our ) Tj ET Q q 0 0 0 rg BT 314.85 365.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 335.04 365.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 359.69 365.25 Td (from ) Tj ET Q q 0 0 0 rg BT 381.55 365.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 425.63 365.25 Td (would ) Tj ET Q q 0 0 0 rg BT 453.05 365.25 Td (be ) Tj ET Q q 0 0 0 rg BT 464.91 365.25 Td (significantly ) Tj ET Q q 0 0 0 rg BT 517.32 365.25 Td (higher ) Tj ET Q q 0 0 0 rg BT 545.29 365.25 Td (than ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.34 353.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 94.50 353.25 Td (budget ) Tj ET Q q 0 0 0 rg BT 124.23 353.25 Td (and ) Tj ET Q q 0 0 0 rg BT 141.18 353.25 Td (result ) Tj ET Q q 0 0 0 rg BT 165.91 353.25 Td (in ) Tj ET Q q 0 0 0 rg BT 176.20 353.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 213.71 353.25 Td (generating ) Tj ET Q q 0 0 0 rg BT 258.42 353.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 303.15 353.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 331.76 353.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 352.04 353.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 372.88 353.25 Td (during ) Tj ET Q q 0 0 0 rg BT 401.50 353.25 Td (2019. ) Tj ET Q q 0 0 0 rg BT 426.51 353.25 Td ( ) Tj ET Q q 0 0 0 rg BT 428.84 353.25 Td (W) Tj ET Q q 0 0 0 rg BT 437.48 353.25 Td (e ) Tj ET Q q 0 0 0 rg BT 444.43 353.25 Td (have ) Tj ET Q q 0 0 0 rg BT 465.82 353.25 Td (hedged ) Tj ET Q q 0 0 0 rg BT 497.21 353.25 Td (over ) Tj ET Q q 0 0 0 rg BT 517.49 353.25 Td (60% ) Tj ET Q q 0 0 0 rg BT 538.33 353.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.17 353.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 90.51 341.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 103.76 341.25 Td (production ) Tj ET Q q 0 0 0 rg BT 149.77 341.25 Td (in ) Tj ET Q q 0 0 0 rg BT 160.24 341.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 182.93 341.25 Td (in ) Tj ET Q q 0 0 0 rg BT 193.40 341.25 Td (order ) Tj ET Q q 0 0 0 rg BT 217.18 341.25 Td (to ) Tj ET Q q 0 0 0 rg BT 227.65 341.25 Td (protect ) Tj ET Q q 0 0 0 rg BT 258.10 341.25 Td (against ) Tj ET Q q 0 0 0 rg BT 289.12 341.25 Td (downward ) Tj ET Q q 0 0 0 rg BT 334.02 341.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 347.27 341.25 Td (price ) Tj ET Q q 0 0 0 rg BT 369.94 341.25 Td (volatility ) Tj ET Q q 0 0 0 rg BT 408.74 341.25 Td (and ) Tj ET Q q 0 0 0 rg BT 425.87 341.25 Td (to ) Tj ET Q q 0 0 0 rg BT 436.33 341.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 469.57 341.25 Td (a ) Tj ET Q q 0 0 0 rg BT 476.70 341.25 Td (degree ) Tj ET Q q 0 0 0 rg BT 506.03 341.25 Td (of ) Tj ET Q q 0 0 0 rg BT 517.05 341.25 Td (certainty ) Tj ET Q q 0 0 0 rg BT 554.72 341.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.16 329.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 87.49 329.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 128.14 329.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 148.24 329.25 Td (flow) Tj ET Q q 0 0 0 rg BT 165.92 329.25 Td (. ) Tj ET Q q 0 0 0 rg BT 170.75 329.25 Td ( ) Tj ET Q q 0 0 0 rg BT 173.07 329.25 Td (Based ) Tj ET Q q 0 0 0 rg BT 199.84 329.25 Td (on ) Tj ET Q q 0 0 0 rg BT 212.17 329.25 Td (this ) Tj ET Q q 0 0 0 rg BT 228.95 329.25 Td (budgeted ) Tj ET Q q 0 0 0 rg BT 267.93 329.25 Td (level ) Tj ET Q q 0 0 0 rg BT 289.70 329.25 Td (of ) Tj ET Q q 0 0 0 rg BT 300.35 329.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 329.33 329.25 Td (spending, ) Tj ET Q q 0 0 0 rg BT 370.27 329.25 Td (we ) Tj ET Q q 0 0 0 rg BT 384.26 329.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 422.68 329.25 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 463.88 329.25 Td (that ) Tj ET Q q 0 0 0 rg BT 481.20 329.25 Td (our ) Tj ET Q q 0 0 0 rg BT 496.86 329.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 519.19 329.25 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.25 Td (will ) Tj ET Q q 0 0 0 rg BT 67.15 317.25 Td (average ) Tj ET Q q 0 0 0 rg BT 100.33 317.25 Td (between ) Tj ET Q q 0 0 0 rg BT 135.75 317.25 Td (56,000 ) Tj ET Q q 0 0 0 rg BT 165.34 317.25 Td (and ) Tj ET Q q 0 0 0 rg BT 181.88 317.25 Td (60,000 ) Tj ET Q q 0 0 0 rg BT 211.48 317.25 Td (BOE/d. ) Tj ET Q q 0 0 0 rg BT 243.85 317.25 Td ( ) Tj ET Q q 0 0 0 rg BT 245.49 317.25 Td (Additional ) Tj ET Q q 0 0 0 rg BT 290.36 317.25 Td (information ) Tj ET Q q 0 0 0 rg BT 339.67 317.25 Td (concerning ) Tj ET Q q 0 0 0 rg BT 386.19 317.25 Td (our ) Tj ET Q q 0 0 0 rg BT 401.62 317.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 423.71 317.25 Td (budget ) Tj ET Q q 0 0 0 rg BT 453.03 317.25 Td (and ) Tj ET Q q 0 0 0 rg BT 469.56 317.25 Td (plans ) Tj ET Q q 0 0 0 rg BT 492.77 317.25 Td (is ) Tj ET Q q 0 0 0 rg BT 501.53 317.25 Td (included ) Tj ET Q q 0 0 0 rg BT 538.07 317.25 Td (below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.25 Td (under ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 74.77 305.25 Td (Capital ) Tj ET Q q 0 0 0 rg BT 107.27 305.25 Td (Resour) Tj ET Q q 0 0 0 rg BT 135.23 305.25 Td (ces ) Tj ET Q q 0 0 0 rg BT 150.50 305.25 Td (and ) Tj ET Q q 0 0 0 rg BT 168.00 305.25 Td (Liquidity ) Tj ET Q q 0 0 0 rg BT 206.61 305.25 Td (� ) Tj ET Q q 0 0 0 rg BT 214.11 305.25 Td (Overview) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.43 305.25 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 281.25 Td (2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.50 281.25 Td ( ) Tj ET Q q 0 0 0 rg BT 89.79 281.25 Td (Highlights.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.74 281.25 Td ( ) Tj ET Q q 0 0 0 rg BT 139.03 281.25 Td ( ) Tj ET Q q 0 0 0 rg BT 141.32 281.25 Td ( ) Tj ET Q q 0 0 0 rg BT 143.60 281.25 Td (During ) Tj ET Q q 0 0 0 rg BT 174.22 281.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 199.01 281.25 Td (we ) Tj ET Q q 0 0 0 rg BT 212.95 281.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 259.10 281.25 Td (net ) Tj ET Q q 0 0 0 rg BT 273.61 281.25 Td (income ) Tj ET Q q 0 0 0 rg BT 305.33 281.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 315.94 281.25 Td ($322.7 ) Tj ET Q q 0 0 0 rg BT 345.73 281.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.62 281.25 Td (, ) Tj ET Q q 0 0 0 rg BT 379.41 281.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.03 281.25 Td ($0.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.53 281.25 Td ( ) Tj ET Q q 0 0 0 rg BT 414.81 281.25 Td (per ) Tj ET Q q 0 0 0 rg BT 429.87 281.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 459.93 281.25 Td (common ) Tj ET Q q 0 0 0 rg BT 497.21 281.25 Td (share, ) Tj ET Q q 0 0 0 rg BT 523.09 281.25 Td (compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.44 269.25 Td (net ) Tj ET Q q 0 0 0 rg BT 73.81 269.25 Td (income ) Tj ET Q q 0 0 0 rg BT 105.40 269.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.89 269.25 Td ($163.2 ) Tj ET Q q 0 0 0 rg BT 145.54 269.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.44 269.25 Td (, ) Tj ET Q q 0 0 0 rg BT 179.09 269.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.58 269.25 Td ($0.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.08 269.25 Td ( ) Tj ET Q q 0 0 0 rg BT 214.24 269.25 Td (per ) Tj ET Q q 0 0 0 rg BT 229.16 269.25 Td (diluted ) Tj ET Q q 0 0 0 rg BT 259.09 269.25 Td (common ) Tj ET Q q 0 0 0 rg BT 296.25 269.25 Td (share, ) Tj ET Q q 0 0 0 rg BT 322.00 269.25 Td (during ) Tj ET Q q 0 0 0 rg BT 350.27 269.25 Td (2017. ) Tj ET Q q 0 0 0 rg BT 374.93 269.25 Td ( ) Tj ET Q q 0 0 0 rg BT 376.93 269.25 Td (The ) Tj ET Q q 0 0 0 rg BT 394.63 269.25 Td (primary ) Tj ET Q q 0 0 0 rg BT 428.44 269.25 Td (drivers ) Tj ET Q q 0 0 0 rg BT 458.37 269.25 Td (of ) Tj ET Q q 0 0 0 rg BT 468.86 269.25 Td (our ) Tj ET Q q 0 0 0 rg BT 484.34 269.25 Td (change ) Tj ET Q q 0 0 0 rg BT 514.82 269.25 Td (in ) Tj ET Q q 0 0 0 rg BT 524.75 269.25 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (results ) Tj ET Q q 0 0 0 rg BT 78.11 257.25 Td (between ) Tj ET Q q 0 0 0 rg BT 113.92 257.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 136.42 257.25 Td (and ) Tj ET Q q 0 0 0 rg BT 153.36 257.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 175.86 257.25 Td (were ) Tj ET Q q 0 0 0 rg BT 197.79 257.25 Td (the ) Tj ET Q q 0 0 0 rg BT 212.51 257.25 Td (following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 233.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 82.49 233.25 Td (and ) Tj ET Q q 0 0 0 rg BT 99.15 233.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 129.12 233.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 144.67 233.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 182.42 233.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 222.39 233.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.60 233.25 Td ($332.9 ) Tj ET Q q 0 0 0 rg BT 264.32 233.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.21 233.25 Td (, ) Tj ET Q q 0 0 0 rg BT 297.92 233.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.47 233.25 Td (31%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.80 233.25 Td (, ) Tj ET Q q 0 0 0 rg BT 331.51 233.25 Td (in ) Tj ET Q q 0 0 0 rg BT 341.50 233.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 366.22 233.25 Td (driven ) Tj ET Q q 0 0 0 rg BT 393.98 233.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.19 233.25 Td (31%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.52 233.25 Td ( ) Tj ET Q q 0 0 0 rg BT 426.74 233.25 Td (higher ) Tj ET Q q 0 0 0 rg BT 454.50 233.25 Td (realized ) Tj ET Q q 0 0 0 rg BT 488.35 233.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 536.12 233.25 Td (prices. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.25 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 221.25 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 118.39 221.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 161.47 221.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 196.79 221.25 Td (in ) Tj ET Q q 0 0 0 rg BT 207.67 221.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 230.78 221.25 Td (decreased ) Tj ET Q q 0 0 0 rg BT 273.30 221.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.40 221.25 Td ($98.7 ) Tj ET Q q 0 0 0 rg BT 312.01 221.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.90 221.25 Td ( ) Tj ET Q q 0 0 0 rg BT 344.00 221.25 Td (as ) Tj ET Q q 0 0 0 rg BT 355.44 221.25 Td (a ) Tj ET Q q 0 0 0 rg BT 362.98 221.25 Td (result ) Tj ET Q q 0 0 0 rg BT 388.31 221.25 Td (of ) Tj ET Q q 0 0 0 rg BT 399.74 221.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.29 221.25 Td ($226.1 ) Tj ET Q q 0 0 0 rg BT 437.89 221.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.78 221.25 Td ( ) Tj ET Q q 0 0 0 rg BT 469.89 221.25 Td (gain ) Tj ET Q q 0 0 0 rg BT 490.21 221.25 Td (from ) Tj ET Q q 0 0 0 rg BT 512.75 221.25 Td (noncash ) Tj ET Q q 0 0 0 rg BT 548.63 221.25 Td (fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 209.25 Td (value ) Tj ET Q q 0 0 0 rg BT 92.02 209.25 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 142.66 209.25 Td (between ) Tj ET Q q 0 0 0 rg BT 178.85 209.25 Td (the ) Tj ET Q q 0 0 0 rg BT 193.93 209.25 Td (periods, ) Tj ET Q q 0 0 0 rg BT 228.74 209.25 Td (partially ) Tj ET Q q 0 0 0 rg BT 264.93 209.25 Td (of) Tj ET Q q 0 0 0 rg BT 273.08 209.25 Td (fset ) Tj ET Q q 0 0 0 rg BT 290.38 209.25 Td (by ) Tj ET Q q 0 0 0 rg BT 303.25 209.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.56 209.25 Td ($127.5 ) Tj ET Q q 0 0 0 rg BT 340.92 209.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.81 209.25 Td ( ) Tj ET Q q 0 0 0 rg BT 372.68 209.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 408.30 209.25 Td (in ) Tj ET Q q 0 0 0 rg BT 418.95 209.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 460.14 209.25 Td (for ) Tj ET Q q 0 0 0 rg BT 474.67 209.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 517.52 209.25 Td (settlements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 197.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.83 197.25 Td ($175.2 ) Tj ET Q q 0 0 0 rg BT 100.83 197.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.72 197.25 Td ( ) Tj ET Q q 0 0 0 rg BT 132.22 197.25 Td (in ) Tj ET Q q 0 0 0 rg BT 142.50 197.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 183.33 197.25 Td (on ) Tj ET Q q 0 0 0 rg BT 195.83 197.25 Td (settlements ) Tj ET Q q 0 0 0 rg BT 243.32 197.25 Td (during ) Tj ET Q q 0 0 0 rg BT 271.92 197.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 294.42 197.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 336.35 197.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.63 197.25 Td ($47.8 ) Tj ET Q q 0 0 0 rg BT 371.63 197.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.52 197.25 Td ( ) Tj ET Q q 0 0 0 rg BT 403.02 197.25 Td (during ) Tj ET Q q 0 0 0 rg BT 431.63 197.25 Td (2017\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 173.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.10 173.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 107.15 173.25 Td (net ) Tj ET Q q 0 0 0 rg BT 121.41 173.25 Td (income ) Tj ET Q q 0 0 0 rg BT 152.90 173.25 Td (also ) Tj ET Q q 0 0 0 rg BT 171.05 173.25 Td (included ) Tj ET Q q 0 0 0 rg BT 207.53 173.25 Td (the ) Tj ET Q q 0 0 0 rg BT 221.80 173.25 Td (ef) Tj ET Q q 0 0 0 rg BT 229.39 173.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 246.42 173.25 Td (of ) Tj ET Q q 0 0 0 rg BT 256.80 173.25 Td (a ) Tj ET Q q 0 0 0 rg BT 263.29 173.25 Td (one-time ) Tj ET Q q 0 0 0 rg BT 300.88 173.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 336.23 173.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 350.50 173.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 380.31 173.25 Td (of ) Tj ET Q q 0 0 0 rg BT 390.69 173.25 Td ($132.2 ) Tj ET Q q 0 0 0 rg BT 420.23 173.25 Td (million ) Tj ET Q q 0 0 0 rg BT 451.17 173.25 Td (in ) Tj ET Q q 0 0 0 rg BT 461.00 173.25 Td (the ) Tj ET Q q 0 0 0 rg BT 475.27 173.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 501.75 173.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 532.12 173.25 Td (of ) Tj ET Q q 0 0 0 rg BT 542.50 173.25 Td (2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.25 Td (resulting ) Tj ET Q q 0 0 0 rg BT 87.05 161.25 Td (from ) Tj ET Q q 0 0 0 rg BT 109.04 161.25 Td (the ) Tj ET Q q 0 0 0 rg BT 123.81 161.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 164.13 161.25 Td (of ) Tj ET Q q 0 0 0 rg BT 175.01 161.25 Td (the ) Tj ET Q q 0 0 0 rg BT 189.78 161.25 Td (federal ) Tj ET Q q 0 0 0 rg BT 220.09 161.25 Td (income ) Tj ET Q q 0 0 0 rg BT 252.08 161.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 266.85 161.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 284.39 161.25 Td (from ) Tj ET Q q 0 0 0 rg BT 306.38 161.25 Td (35% ) Tj ET Q q 0 0 0 rg BT 327.26 161.25 Td (to ) Tj ET Q q 0 0 0 rg BT 337.60 161.25 Td (21% ) Tj ET Q q 0 0 0 rg BT 358.48 161.25 Td (as ) Tj ET Q q 0 0 0 rg BT 369.36 161.25 Td (enacted ) Tj ET Q q 0 0 0 rg BT 402.45 161.25 Td (by ) Tj ET Q q 0 0 0 rg BT 415.00 161.25 Td (the ) Tj ET Q q 0 0 0 rg BT 429.59 161.25 Td (T) Tj ET Q q 0 0 0 rg BT 435.00 161.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 446.99 161.25 Td (Cut ) Tj ET Q q 0 0 0 rg BT 463.99 161.25 Td (and ) Tj ET Q q 0 0 0 rg BT 480.99 161.25 Td (Jobs ) Tj ET Q q 0 0 0 rg BT 500.76 161.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 517.75 161.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 535.85 161.25 Td (�Act�\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.78 149.25 Td (December ) Tj ET Q q 0 0 0 rg BT 103.36 149.25 Td (2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 125.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 125.25 Td (e ) Tj ET Q q 0 0 0 rg BT 83.41 125.25 Td (generated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.10 125.25 Td ($529.7 ) Tj ET Q q 0 0 0 rg BT 155.43 125.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.33 125.25 Td ( ) Tj ET Q q 0 0 0 rg BT 187.16 125.25 Td (of ) Tj ET Q q 0 0 0 rg BT 198.32 125.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 218.92 125.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 240.08 125.25 Td (from ) Tj ET Q q 0 0 0 rg BT 262.35 125.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 302.95 125.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 341.88 125.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.82 125.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.82 125.25 Td (, ) Tj ET Q q 0 0 0 rg BT 396.15 125.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 438.41 125.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.02 125.25 Td ($267.1 ) Tj ET Q q 0 0 0 rg BT 479.35 125.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.24 125.25 Td ( ) Tj ET Q q 0 0 0 rg BT 511.07 125.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.01 125.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 125.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.25 Td (due ) Tj ET Q q 0 0 0 rg BT 66.41 113.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 106.10 113.25 Td (to ) Tj ET Q q 0 0 0 rg BT 116.36 113.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.27 113.25 Td ($332.9 ) Tj ET Q q 0 0 0 rg BT 153.25 113.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.14 113.25 Td ( ) Tj ET Q q 0 0 0 rg BT 184.61 113.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 219.84 113.25 Td (in ) Tj ET Q q 0 0 0 rg BT 230.10 113.25 Td (revenues ) Tj ET Q q 0 0 0 rg BT 268.11 113.25 Td (due ) Tj ET Q q 0 0 0 rg BT 285.02 113.25 Td (to ) Tj ET Q q 0 0 0 rg BT 295.28 113.25 Td (higher ) Tj ET Q q 0 0 0 rg BT 323.30 113.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 336.33 113.25 Td (prices, ) Tj ET Q q 0 0 0 rg BT 365.18 113.25 Td (of) Tj ET Q q 0 0 0 rg BT 373.33 113.25 Td (fset ) Tj ET Q q 0 0 0 rg BT 390.25 113.25 Td (in ) Tj ET Q q 0 0 0 rg BT 400.50 113.25 Td (part ) Tj ET Q q 0 0 0 rg BT 418.52 113.25 Td (by ) Tj ET Q q 0 0 0 rg BT 431.00 113.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.91 113.25 Td ($127.5 ) Tj ET Q q 0 0 0 rg BT 467.89 113.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.78 113.25 Td ( ) Tj ET Q q 0 0 0 rg BT 499.26 113.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 534.49 113.25 Td (in ) Tj ET Q q 0 0 0 rg BT 544.74 113.25 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.25 Td (outflows ) Tj ET Q q 0 0 0 rg BT 87.00 101.25 Td (due ) Tj ET Q q 0 0 0 rg BT 103.94 101.25 Td (to ) Tj ET Q q 0 0 0 rg BT 114.22 101.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 156.70 101.25 Td (settlements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 77.25 Td (Agr) Tj ET Q q 0 0 0 rg BT 83.98 77.25 Td (eement ) Tj ET Q q 0 0 0 rg BT 116.63 77.25 Td (to ) Tj ET Q q 0 0 0 rg BT 126.60 77.25 Td (Acquir) Tj ET Q q 0 0 0 rg BT 156.42 77.25 Td (e ) Tj ET Q q 0 0 0 rg BT 162.96 77.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 186.59 77.25 Td (V) Tj ET Q q 0 0 0 rg BT 193.44 77.25 Td (irginia ) Tj ET Q q 0 0 0 rg BT 223.88 77.25 Td (Corporation.� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.32 77.25 Td (On ) Tj ET Q q 0 0 0 rg BT 298.65 77.25 Td (October ) Tj ET Q q 0 0 0 rg BT 332.97 77.25 Td (28, ) Tj ET Q q 0 0 0 rg BT 347.58 77.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 372.18 77.25 Td (we ) Tj ET Q q 0 0 0 rg BT 385.95 77.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 417.49 77.25 Td (into ) Tj ET Q q 0 0 0 rg BT 435.15 77.25 Td (a ) Tj ET Q q 0 0 0 rg BT 441.70 77.25 Td (definitive ) Tj ET Q q 0 0 0 rg BT 481.66 77.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 528.19 77.25 Td (and ) Tj ET Q q 0 0 0 rg BT 544.74 77.25 Td (Plan ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.25 Td (of ) Tj ET Q q 0 0 0 rg BT 62.19 65.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 78.67 65.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 95.80 65.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 115.70 65.25 Td (�Mer) Tj ET Q q 0 0 0 rg BT 136.62 65.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 152.79 65.25 Td (Agreement�\) ) Tj ET Q q 0 0 0 rg BT 209.34 65.25 Td (with ) Tj ET Q q 0 0 0 rg BT 231.47 65.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 255.52 65.25 Td (V) Tj ET Q q 0 0 0 rg BT 262.14 65.25 Td (ir) Tj ET Q q 0 0 0 rg BT 268.07 65.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 292.42 65.25 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 345.10 65.25 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 397.24 65.25 Td (PV) Tj ET Q q 0 0 0 rg BT 408.74 65.25 Td (AC\) ) Tj ET Q q 0 0 0 rg BT 430.32 65.25 Td (\(�Penn ) Tj ET Q q 0 0 0 rg BT 462.13 65.25 Td (V) Tj ET Q q 0 0 0 rg BT 468.75 65.25 Td (ir) Tj ET Q q 0 0 0 rg BT 474.68 65.25 Td (ginia�\). ) Tj ET Q q 0 0 0 rg BT 509.30 65.25 Td ( ) Tj ET Q q 0 0 0 rg BT 513.34 65.25 Td (The ) Tj ET Q q 0 0 0 rg BT 533.25 65.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 549.73 65.25 Td (ger ) Tj ET Q endstream endobj 81 0 obj <> endobj 82 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (40) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 96.20 713.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 132.91 713.10 Td (for ) Tj ET Q q 0 0 0 rg BT 146.84 713.10 Td (us ) Tj ET Q q 0 0 0 rg BT 158.01 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 168.06 713.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 199.75 713.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 221.86 713.10 Td (V) Tj ET Q q 0 0 0 rg BT 228.48 713.10 Td (ir) Tj ET Q q 0 0 0 rg BT 234.41 713.10 Td (ginia ) Tj ET Q q 0 0 0 rg BT 256.68 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 266.73 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 273.44 713.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 296.82 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 313.54 713.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 333.58 713.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 379.72 713.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 397.54 713.10 Td (�Mer) Tj ET Q q 0 0 0 rg BT 418.46 713.10 Td (ger�\) ) Tj ET Q q 0 0 0 rg BT 441.27 713.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 470.20 713.10 Td (\(based ) Tj ET Q q 0 0 0 rg BT 498.57 713.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 520.84 713.10 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 558.61 713.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (per ) Tj ET Q q 0 0 0 rg BT 64.06 701.10 Td (share ) Tj ET Q q 0 0 0 rg BT 86.95 701.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 117.63 701.10 Td (price ) Tj ET Q q 0 0 0 rg BT 139.40 701.10 Td (on ) Tj ET Q q 0 0 0 rg BT 151.19 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 165.20 701.10 Td (NYSE ) Tj ET Q q 0 0 0 rg BT 193.11 701.10 Td (on ) Tj ET Q q 0 0 0 rg BT 204.90 701.10 Td (October�26, ) Tj ET Q q 0 0 0 rg BT 253.90 701.10 Td (2018\) ) Tj ET Q q 0 0 0 rg BT 279.02 701.10 Td (at ) Tj ET Q q 0 0 0 rg BT 288.02 701.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 347.57 701.10 Td ($1.7 ) Tj ET Q q 0 0 0 rg BT 366.87 701.10 Td (billion, ) Tj ET Q q 0 0 0 rg BT 397.27 701.10 Td (including ) Tj ET Q q 0 0 0 rg BT 436.83 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.84 701.10 Td (assumption ) Tj ET Q q 0 0 0 rg BT 498.19 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 508.31 701.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 529.97 701.10 Td (V) Tj ET Q q 0 0 0 rg BT 536.59 701.10 Td (ir) Tj ET Q q 0 0 0 rg BT 542.52 701.10 Td (ginia ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 68.98 689.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 117.90 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 128.49 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 139.08 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.55 689.10 Td (date ) Tj ET Q q 0 0 0 rg BT 172.46 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.05 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.53 689.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 214.01 689.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 228.54 689.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 277.72 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 279.98 689.10 Td (In ) Tj ET Q q 0 0 0 rg BT 290.56 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 305.04 689.10 Td (aggregate, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.66 689.10 Td ($400 ) Tj ET Q q 0 0 0 rg BT 370.92 689.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.81 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 402.07 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 412.10 689.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 432.13 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 448.83 689.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.85 689.10 Td (191.8 ) Tj ET Q q 0 0 0 rg BT 533.60 689.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.50 689.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.39 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 88.63 677.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 126.52 677.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 166.65 677.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 192.33 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 207.44 677.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 245.87 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 256.56 677.10 Td (be ) Tj ET Q q 0 0 0 rg BT 268.90 677.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 289.02 677.10 Td (as ) Tj ET Q q 0 0 0 rg BT 300.25 677.10 Td (mer) Tj ET Q q 0 0 0 rg BT 315.62 677.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 331.29 677.10 Td (consideration. ) Tj ET Q q 0 0 0 rg BT 390.56 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 393.46 677.10 Td (For ) Tj ET Q q 0 0 0 rg BT 410.26 677.10 Td (further ) Tj ET Q q 0 0 0 rg BT 440.37 677.10 Td (information ) Tj ET Q q 0 0 0 rg BT 490.48 677.10 Td (see ) Tj ET Q q 0 0 0 rg BT 506.16 677.10 Td (our ) Tj ET Q q 0 0 0 rg BT 522.39 677.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 546.96 677.10 Td (8-K ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 665.10 Td (exhibits ) Tj ET Q q 0 0 0 rg BT 100.60 665.10 Td (thereto ) Tj ET Q q 0 0 0 rg BT 130.87 665.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 151.69 665.10 Td (with ) Tj ET Q q 0 0 0 rg BT 171.97 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 186.69 665.10 Td (Commission ) Tj ET Q q 0 0 0 rg BT 239.75 665.10 Td (on ) Tj ET Q q 0 0 0 rg BT 252.25 665.10 Td (October ) Tj ET Q q 0 0 0 rg BT 286.96 665.10 Td (29, ) Tj ET Q q 0 0 0 rg BT 301.96 665.10 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 641.10 Td (The ) Tj ET Q q 0 0 0 rg BT 86.16 641.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 102.64 641.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 118.52 641.10 Td (is ) Tj ET Q q 0 0 0 rg BT 128.30 641.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 159.73 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 170.62 641.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 208.72 641.10 Td (by ) Tj ET Q q 0 0 0 rg BT 221.83 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.15 641.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 290.80 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 302.24 641.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 325.13 641.10 Td (V) Tj ET Q q 0 0 0 rg BT 331.75 641.10 Td (ir) Tj ET Q q 0 0 0 rg BT 337.68 641.10 Td (ginia ) Tj ET Q q 0 0 0 rg BT 360.78 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.33 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 389.22 641.10 Td (approval ) Tj ET Q q 0 0 0 rg BT 427.31 641.10 Td (by ) Tj ET Q q 0 0 0 rg BT 440.42 641.10 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 478.19 641.10 Td (s ) Tj ET Q q 0 0 0 rg BT 485.20 641.10 Td (stockholders ) Tj ET Q q 0 0 0 rg BT 538.85 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 641.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 85.14 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 95.23 629.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 131.98 629.10 Td (common ) Tj ET Q q 0 0 0 rg BT 168.73 629.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 191.60 629.10 Td (\(�Denbury ) Tj ET Q q 0 0 0 rg BT 236.12 629.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 275.11 629.10 Td (Stock�\) ) Tj ET Q q 0 0 0 rg BT 307.42 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 316.95 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.93 629.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 347.41 629.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 361.94 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.14 629.10 Td (an ) Tj ET Q q 0 0 0 rg BT 389.34 629.10 Td (amendment ) Tj ET Q q 0 0 0 rg BT 437.75 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.29 629.10 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 485.05 629.10 Td (s ) Tj ET Q q 0 0 0 rg BT 490.71 629.10 Td (charter ) Tj ET Q q 0 0 0 rg BT 520.22 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 529.76 629.10 Td (increase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (its ) Tj ET Q q 0 0 0 rg BT 62.53 617.10 Td (authorized ) Tj ET Q q 0 0 0 rg BT 108.31 617.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 139.38 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 142.95 617.10 Td (Consummation ) Tj ET Q q 0 0 0 rg BT 207.64 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 219.55 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.35 617.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 251.83 617.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 268.17 617.10 Td (is ) Tj ET Q q 0 0 0 rg BT 278.42 617.10 Td (also ) Tj ET Q q 0 0 0 rg BT 298.11 617.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 330.01 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 341.37 617.10 Td (other ) Tj ET Q q 0 0 0 rg BT 365.49 617.10 Td (customary ) Tj ET Q q 0 0 0 rg BT 410.73 617.10 Td (mutual ) Tj ET Q q 0 0 0 rg BT 442.08 617.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 474.54 617.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 522.29 617.10 Td (which ) Tj ET Q q 0 0 0 rg BT 550.30 617.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (described ) Tj ET Q q 0 0 0 rg BT 90.32 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 100.59 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.31 605.10 Td (above-referenced ) Tj ET Q q 0 0 0 rg BT 187.20 605.10 Td (Form�8-K.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 581.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.91 581.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 125.86 581.10 Td (with ) Tj ET Q q 0 0 0 rg BT 146.71 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.01 581.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 178.49 581.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 193.65 581.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 243.66 581.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 281.72 581.10 Td (has ) Tj ET Q q 0 0 0 rg BT 298.13 581.10 Td (received ) Tj ET Q q 0 0 0 rg BT 335.07 581.10 Td (a ) Tj ET Q q 0 0 0 rg BT 342.59 581.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 396.21 581.10 Td (letter ) Tj ET Q q 0 0 0 rg BT 419.83 581.10 Td (from ) Tj ET Q q 0 0 0 rg BT 442.35 581.10 Td (JPMor) Tj ET Q q 0 0 0 rg BT 468.84 581.10 Td (gan ) Tj ET Q q 0 0 0 rg BT 486.36 581.10 Td (Chase ) Tj ET Q q 0 0 0 rg BT 513.87 581.10 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 540.56 581.10 Td (N.A., ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 80.15 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 90.26 569.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 119.79 569.10 Td (funding ) Tj ET Q q 0 0 0 rg BT 153.23 569.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 199.72 569.10 Td (for ) Tj ET Q q 0 0 0 rg BT 213.71 569.10 Td (a ) Tj ET Q q 0 0 0 rg BT 220.48 569.10 Td (proposed ) Tj ET Q q 0 0 0 rg BT 259.47 569.10 Td (new ) Tj ET Q q 0 0 0 rg BT 278.46 569.10 Td ($1.2 ) Tj ET Q q 0 0 0 rg BT 298.29 569.10 Td (billion ) Tj ET Q q 0 0 0 rg BT 326.73 569.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 353.50 569.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 386.37 569.10 Td (revolving ) Tj ET Q q 0 0 0 rg BT 427.02 569.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 452.11 569.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 482.76 569.10 Td (with ) Tj ET Q q 0 0 0 rg BT 502.87 569.10 Td (a ) Tj ET Q q 0 0 0 rg BT 509.64 569.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 545.85 569.10 Td (date ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.23 557.10 Td (December ) Tj ET Q q 0 0 0 rg BT 103.72 557.10 Td (9, ) Tj ET Q q 0 0 0 rg BT 113.63 557.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 136.03 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 152.87 557.10 Td (a ) Tj ET Q q 0 0 0 rg BT 159.71 557.10 Td ($400 ) Tj ET Q q 0 0 0 rg BT 182.12 557.10 Td (million ) Tj ET Q q 0 0 0 rg BT 213.41 557.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 240.26 557.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 273.20 557.10 Td (second ) Tj ET Q q 0 0 0 rg BT 303.37 557.10 Td (lien ) Tj ET Q q 0 0 0 rg BT 320.77 557.10 Td (bridge ) Tj ET Q q 0 0 0 rg BT 348.72 557.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 379.44 557.10 Td (to ) Tj ET Q q 0 0 0 rg BT 389.62 557.10 Td (be ) Tj ET Q q 0 0 0 rg BT 401.47 557.10 Td (available ) Tj ET Q q 0 0 0 rg BT 439.96 557.10 Td (to ) Tj ET Q q 0 0 0 rg BT 450.14 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 464.76 557.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 491.60 557.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 528.99 557.10 Td (does ) Tj ET Q q 0 0 0 rg BT 549.73 557.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 77.13 545.10 Td (alternate ) Tj ET Q q 0 0 0 rg BT 113.65 545.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 153.51 545.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 175.05 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 184.46 545.10 Td (April ) Tj ET Q q 0 0 0 rg BT 207.67 545.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 222.26 545.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 246.86 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 248.81 545.10 Td (These ) Tj ET Q q 0 0 0 rg BT 274.78 545.10 Td (two ) Tj ET Q q 0 0 0 rg BT 291.88 545.10 Td (new ) Tj ET Q q 0 0 0 rg BT 310.63 545.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 329.95 545.10 Td (financings ) Tj ET Q q 0 0 0 rg BT 373.70 545.10 Td (are ) Tj ET Q q 0 0 0 rg BT 388.00 545.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 425.63 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 435.51 545.10 Td (be ) Tj ET Q q 0 0 0 rg BT 447.04 545.10 Td (used ) Tj ET Q q 0 0 0 rg BT 467.47 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 477.35 545.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 498.33 545.10 Td (or ) Tj ET Q q 0 0 0 rg BT 508.76 545.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 544.18 545.10 Td (fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.64 533.10 Td ($400 ) Tj ET Q q 0 0 0 rg BT 85.57 533.10 Td (million ) Tj ET Q q 0 0 0 rg BT 116.38 533.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 136.08 533.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 166.89 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 177.15 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 191.29 533.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 247.08 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 256.79 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.93 533.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 287.41 533.10 Td (ger) Tj ET Q q 0 0 0 rg BT 299.78 533.10 Td (, ) Tj ET Q q 0 0 0 rg BT 304.20 533.10 Td (potentially ) Tj ET Q q 0 0 0 rg BT 348.90 533.10 Td (retire ) Tj ET Q q 0 0 0 rg BT 371.92 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 388.28 533.10 Td (replace ) Tj ET Q q 0 0 0 rg BT 419.07 533.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 440.85 533.10 Td (V) Tj ET Q q 0 0 0 rg BT 447.48 533.10 Td (ir) Tj ET Q q 0 0 0 rg BT 453.40 533.10 Td (ginia�) Tj ET Q q 0 0 0 rg BT 476.18 533.10 Td (s ) Tj ET Q q 0 0 0 rg BT 481.99 533.10 Td ($200 ) Tj ET Q q 0 0 0 rg BT 503.92 533.10 Td (million ) Tj ET Q q 0 0 0 rg BT 534.74 533.10 Td (second ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (lien ) Tj ET Q q 0 0 0 rg BT 66.41 521.10 Td (term ) Tj ET Q q 0 0 0 rg BT 86.65 521.10 Td (loan, ) Tj ET Q q 0 0 0 rg BT 108.28 521.10 Td (replace ) Tj ET Q q 0 0 0 rg BT 139.06 521.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 160.84 521.10 Td (V) Tj ET Q q 0 0 0 rg BT 167.46 521.10 Td (ir) Tj ET Q q 0 0 0 rg BT 173.39 521.10 Td (ginia�) Tj ET Q q 0 0 0 rg BT 196.16 521.10 Td (s ) Tj ET Q q 0 0 0 rg BT 201.97 521.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 235.55 521.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 256.90 521.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 281.58 521.10 Td (facility) Tj ET Q q 0 0 0 rg BT 309.25 521.10 Td (, ) Tj ET Q q 0 0 0 rg BT 313.67 521.10 Td (which ) Tj ET Q q 0 0 0 rg BT 340.02 521.10 Td (had ) Tj ET Q q 0 0 0 rg BT 356.38 521.10 Td ($321 ) Tj ET Q q 0 0 0 rg BT 378.29 521.10 Td (million ) Tj ET Q q 0 0 0 rg BT 409.10 521.10 Td (drawn ) Tj ET Q q 0 0 0 rg BT 436.00 521.10 Td (and ) Tj ET Q q 0 0 0 rg BT 452.36 521.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 500.94 521.10 Td (as ) Tj ET Q q 0 0 0 rg BT 511.18 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 521.43 521.10 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 64.50 509.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 89.50 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.44 509.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 123.38 509.10 Td (fees ) Tj ET Q q 0 0 0 rg BT 141.98 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 158.91 509.10 Td (expenses.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 485.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.72 485.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 102.20 485.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 117.05 485.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 164.14 485.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 200.13 485.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 230.01 485.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 278.77 485.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 304.22 485.10 Td (for ) Tj ET Q q 0 0 0 rg BT 318.55 485.10 Td (both ) Tj ET Q q 0 0 0 rg BT 339.00 485.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 376.66 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 393.77 485.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 416.25 485.10 Td (V) Tj ET Q q 0 0 0 rg BT 422.87 485.10 Td (ir) Tj ET Q q 0 0 0 rg BT 428.80 485.10 Td (ginia, ) Tj ET Q q 0 0 0 rg BT 453.96 485.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 496.90 485.10 Td (among ) Tj ET Q q 0 0 0 rg BT 526.79 485.10 Td (others, ) Tj ET Q q 0 0 0 rg BT 556.40 485.10 Td (if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.70 473.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 81.17 473.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 96.92 473.10 Td (is ) Tj ET Q q 0 0 0 rg BT 106.57 473.10 Td (not ) Tj ET Q q 0 0 0 rg BT 122.33 473.10 Td (completed ) Tj ET Q q 0 0 0 rg BT 166.96 473.10 Td (by ) Tj ET Q q 0 0 0 rg BT 179.28 473.10 Td (April ) Tj ET Q q 0 0 0 rg BT 203.36 473.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 218.84 473.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 244.32 473.10 Td ( ) Tj ET Q q 0 0 0 rg BT 247.30 473.10 Td (On ) Tj ET Q q 0 0 0 rg BT 262.50 473.10 Td (a ) Tj ET Q q 0 0 0 rg BT 269.92 473.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 318.99 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 330.30 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 345.50 473.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 361.98 473.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 377.07 473.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 424.47 473.10 Td (under ) Tj ET Q q 0 0 0 rg BT 450.22 473.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 480.40 473.10 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 542.52 473.10 Td (Penn ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (V) Tj ET Q q 0 0 0 rg BT 56.12 461.10 Td (ir) Tj ET Q q 0 0 0 rg BT 62.05 461.10 Td (ginia ) Tj ET Q q 0 0 0 rg BT 84.93 461.10 Td (may ) Tj ET Q q 0 0 0 rg BT 105.04 461.10 Td (be ) Tj ET Q q 0 0 0 rg BT 117.36 461.10 Td (required ) Tj ET Q q 0 0 0 rg BT 153.57 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 164.23 461.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 181.56 461.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 219.44 461.10 Td (a ) Tj ET Q q 0 0 0 rg BT 226.77 461.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 275.75 461.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 290.85 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 302.07 461.10 Td ($45 ) Tj ET Q q 0 0 0 rg BT 319.95 461.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 354.23 461.10 Td (or ) Tj ET Q q 0 0 0 rg BT 365.45 461.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 403.33 461.10 Td (may ) Tj ET Q q 0 0 0 rg BT 423.44 461.10 Td (be ) Tj ET Q q 0 0 0 rg BT 435.76 461.10 Td (required ) Tj ET Q q 0 0 0 rg BT 471.97 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 482.63 461.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 499.96 461.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 522.64 461.10 Td (V) Tj ET Q q 0 0 0 rg BT 529.26 461.10 Td (ir) Tj ET Q q 0 0 0 rg BT 535.19 461.10 Td (ginia ) Tj ET Q q 0 0 0 rg BT 558.07 461.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 98.10 449.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 112.81 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 123.64 449.10 Td ($45 ) Tj ET Q q 0 0 0 rg BT 141.14 449.10 Td (million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 425.10 Td (Consummation ) Tj ET Q q 0 0 0 rg BT 130.02 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 139.75 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.38 425.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 169.86 425.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 184.03 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 199.87 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 213.50 425.10 Td (related ) Tj ET Q q 0 0 0 rg BT 242.10 425.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 281.27 425.10 Td (would ) Tj ET Q q 0 0 0 rg BT 307.68 425.10 Td (have ) Tj ET Q q 0 0 0 rg BT 327.96 425.10 Td (a ) Tj ET Q q 0 0 0 rg BT 333.80 425.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 377.42 425.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 406.04 425.10 Td (on ) Tj ET Q q 0 0 0 rg BT 417.44 425.10 Td (all ) Tj ET Q q 0 0 0 rg BT 428.84 425.10 Td (aspects ) Tj ET Q q 0 0 0 rg BT 459.13 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.86 425.10 Td (our ) Tj ET Q q 0 0 0 rg BT 483.60 425.10 Td (results ) Tj ET Q q 0 0 0 rg BT 511.11 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.84 425.10 Td (operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 413.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 103.92 413.10 Td (condition.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 389.10 Td (Extension ) Tj ET Q q 0 0 0 rg BT 112.88 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 124.36 389.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 151.96 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 155.11 389.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 179.37 389.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 192.52 389.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 218.46 389.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 229.94 389.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 249.20 389.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 280.86 389.10 Td (. ) Tj ET Q q 0 0 0 rg BT 286.51 389.10 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.01 389.10 Td (In ) Tj ET Q q 0 0 0 rg BT 299.80 389.10 Td (August ) Tj ET Q q 0 0 0 rg BT 331.84 389.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 357.49 389.10 Td (we ) Tj ET Q q 0 0 0 rg BT 372.30 389.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 404.88 389.10 Td (into ) Tj ET Q q 0 0 0 rg BT 423.59 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 438.95 389.10 Td (Sixth ) Tj ET Q q 0 0 0 rg BT 462.53 389.10 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 515.11 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 526.04 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.41 389.10 Td (Bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 76.40 377.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 123.26 377.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 141.25 377.10 Td (�Sixth ) Tj ET Q q 0 0 0 rg BT 168.71 377.10 Td (Amendment�\) ) Tj ET Q q 0 0 0 rg BT 228.35 377.10 Td (which ) Tj ET Q q 0 0 0 rg BT 255.23 377.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 294.88 377.10 Td (extended ) Tj ET Q q 0 0 0 rg BT 333.42 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.07 377.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 384.39 377.10 Td (date ) Tj ET Q q 0 0 0 rg BT 403.49 377.10 Td (from ) Tj ET Q q 0 0 0 rg BT 425.37 377.10 Td (December ) Tj ET Q q 0 0 0 rg BT 468.89 377.10 Td (9, ) Tj ET Q q 0 0 0 rg BT 478.83 377.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 501.27 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 511.49 377.10 Td (December ) Tj ET Q q 0 0 0 rg BT 555.02 377.10 Td (9, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 71.87 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 88.68 365.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 122.69 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 137.28 365.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 181.31 365.10 Td (base ) Tj ET Q q 0 0 0 rg BT 201.45 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 218.26 365.10 Td (total ) Tj ET Q q 0 0 0 rg BT 238.40 365.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 295.21 365.10 Td (from ) Tj ET Q q 0 0 0 rg BT 317.01 365.10 Td ($1.05 ) Tj ET Q q 0 0 0 rg BT 341.88 365.10 Td (billion ) Tj ET Q q 0 0 0 rg BT 370.37 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 380.52 365.10 Td ($615 ) Tj ET Q q 0 0 0 rg BT 402.88 365.10 Td (million. ) Tj ET Q q 0 0 0 rg BT 436.65 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 438.49 365.10 Td (At ) Tj ET Q q 0 0 0 rg BT 450.86 365.10 Td (December ) Tj ET Q q 0 0 0 rg BT 494.32 365.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 509.19 365.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 534.06 365.10 Td (we ) Tj ET Q q 0 0 0 rg BT 548.08 365.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (no ) Tj ET Q q 0 0 0 rg BT 62.22 353.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 111.61 353.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 159.88 353.10 Td (on ) Tj ET Q q 0 0 0 rg BT 172.60 353.10 Td (our ) Tj ET Q q 0 0 0 rg BT 188.65 353.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 212.48 353.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 240.20 353.10 Td (Facility ) Tj ET Q q 0 0 0 rg BT 273.47 353.10 Td (and ) Tj ET Q q 0 0 0 rg BT 290.63 353.10 Td ($38.6 ) Tj ET Q q 0 0 0 rg BT 315.85 353.10 Td (million ) Tj ET Q q 0 0 0 rg BT 347.47 353.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 367.96 353.10 Td (on ) Tj ET Q q 0 0 0 rg BT 380.68 353.10 Td (hand. ) Tj ET Q q 0 0 0 rg BT 405.34 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 408.06 353.10 Td (See�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 425.00 353.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 457.72 353.10 Td (Resour) Tj ET Q q 0 0 0 rg BT 485.68 353.10 Td (ces ) Tj ET Q q 0 0 0 rg BT 501.17 353.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.89 353.10 Td (Liquidity��) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (�Senior ) Tj ET Q q 0 0 0 rg BT 80.61 341.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 103.01 341.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 114.94 341.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 137.99 341.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 148.18 341.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 165.68 341.10 Td (Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.78 341.10 Td (�for ) Tj ET Q q 0 0 0 rg BT 213.44 341.10 Td (further ) Tj ET Q q 0 0 0 rg BT 243.14 341.10 Td (discussion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 317.10 Td (Issuance ) Tj ET Q q 0 0 0 rg BT 106.47 317.10 Td (of ) Tj ET Q q 0 0 0 rg BT 117.10 317.10 Td (7�% ) Tj ET Q q 0 0 0 rg BT 141.90 317.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 169.49 317.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.79 317.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 196.05 317.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 208.35 317.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 241.21 317.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 262.95 317.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 289.13 317.10 Td (due ) Tj ET Q q 0 0 0 rg BT 306.99 317.10 Td (2024. ) Tj ET Q q 0 0 0 rg BT 331.79 317.10 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.29 317.10 Td (In ) Tj ET Q q 0 0 0 rg BT 344.41 317.10 Td (August ) Tj ET Q q 0 0 0 rg BT 375.60 317.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 400.39 317.10 Td (we ) Tj ET Q q 0 0 0 rg BT 414.35 317.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 441.65 317.10 Td ($450.0 ) Tj ET Q q 0 0 0 rg BT 471.45 317.10 Td (million ) Tj ET Q q 0 0 0 rg BT 502.64 317.10 Td (of ) Tj ET Q q 0 0 0 rg BT 513.26 317.10 Td (7�% ) Tj ET Q q 0 0 0 rg BT 536.39 317.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 83.98 305.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 115.70 305.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 136.30 305.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 161.91 305.10 Td (due ) Tj ET Q q 0 0 0 rg BT 178.62 305.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 200.90 305.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 218.72 305.10 Td (�2024 ) Tj ET Q q 0 0 0 rg BT 245.44 305.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 273.82 305.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 308.31 305.10 Td (Notes�\). ) Tj ET Q q 0 0 0 rg BT 344.18 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 346.30 305.10 Td (The ) Tj ET Q q 0 0 0 rg BT 364.12 305.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 386.40 305.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 414.78 305.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 449.27 305.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 477.37 305.10 Td (which ) Tj ET Q q 0 0 0 rg BT 504.09 305.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 523.57 305.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 555.28 305.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.78 293.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 74.61 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 85.78 293.10 Td (7.50% ) Tj ET Q q 0 0 0 rg BT 114.45 293.10 Td (per ) Tj ET Q q 0 0 0 rg BT 130.06 293.10 Td (annum, ) Tj ET Q q 0 0 0 rg BT 162.61 293.10 Td (were ) Tj ET Q q 0 0 0 rg BT 184.88 293.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 212.72 293.10 Td (at ) Tj ET Q q 0 0 0 rg BT 222.78 293.10 Td (par ) Tj ET Q q 0 0 0 rg BT 238.39 293.10 Td (to ) Tj ET Q q 0 0 0 rg BT 249.01 293.10 Td (repay ) Tj ET Q q 0 0 0 rg BT 274.06 293.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 323.56 293.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 371.96 293.10 Td (on ) Tj ET Q q 0 0 0 rg BT 384.80 293.10 Td (our ) Tj ET Q q 0 0 0 rg BT 400.97 293.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 424.92 293.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 452.13 293.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 501.89 293.10 Td (with ) Tj ET Q q 0 0 0 rg BT 522.51 293.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 86.72 281.10 Td (used ) Tj ET Q q 0 0 0 rg BT 106.72 281.10 Td (for ) Tj ET Q q 0 0 0 rg BT 120.06 281.10 Td (general ) Tj ET Q q 0 0 0 rg BT 151.17 281.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 190.60 281.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 227.83 281.10 Td (\(see�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.43 281.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 267.54 281.10 Td (6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.54 281.10 Td (,�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 277.54 281.10 Td (Long-T) Tj ET Q q 0 0 0 rg BT 306.08 281.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 323.31 281.10 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.75 281.10 Td (, ) Tj ET Q q 0 0 0 rg BT 346.93 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 356.38 281.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.28 281.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 424.73 281.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 463.62 281.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 509.18 281.10 Td (for ) Tj ET Q q 0 0 0 rg BT 522.52 281.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (details\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 245.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 90.30 245.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 113.65 245.10 Td (Reduction. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 162.84 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 165.64 245.10 Td (During ) Tj ET Q q 0 0 0 rg BT 196.77 245.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 222.08 245.10 Td (we ) Tj ET Q q 0 0 0 rg BT 236.54 245.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 270.98 245.10 Td (our ) Tj ET Q q 0 0 0 rg BT 287.11 245.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 307.13 245.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 345.47 245.10 Td (by ) Tj ET Q q 0 0 0 rg BT 358.27 245.10 Td ($184.9 ) Tj ET Q q 0 0 0 rg BT 388.57 245.10 Td (million ) Tj ET Q q 0 0 0 rg BT 420.26 245.10 Td (through ) Tj ET Q q 0 0 0 rg BT 454.17 245.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 474.19 245.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 514.74 245.10 Td (transactions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 81.16 233.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 127.53 233.10 Td (into ) Tj ET Q q 0 0 0 rg BT 145.59 233.10 Td (common ) Tj ET Q q 0 0 0 rg BT 183.08 233.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 206.69 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.52 233.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 265.00 233.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 291.94 233.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 311.66 233.10 Td (as ) Tj ET Q q 0 0 0 rg BT 322.49 233.10 Td (follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 209.10 Td (During ) Tj ET Q q 0 0 0 rg BT 99.02 209.10 Td (January ) Tj ET Q q 0 0 0 rg BT 133.30 209.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 158.98 209.10 Td (we ) Tj ET Q q 0 0 0 rg BT 173.83 209.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 208.66 209.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 229.06 209.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 267.79 209.10 Td (by ) Tj ET Q q 0 0 0 rg BT 280.97 209.10 Td ($40.8 ) Tj ET Q q 0 0 0 rg BT 306.66 209.10 Td (million ) Tj ET Q q 0 0 0 rg BT 338.74 209.10 Td (through ) Tj ET Q q 0 0 0 rg BT 373.03 209.10 Td (an ) Tj ET Q q 0 0 0 rg BT 385.65 209.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 426.59 209.10 Td (transaction, ) Tj ET Q q 0 0 0 rg BT 476.15 209.10 Td (in ) Tj ET Q q 0 0 0 rg BT 487.11 209.10 Td (which ) Tj ET Q q 0 0 0 rg BT 514.74 209.10 Td (institutional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 197.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 99.44 197.10 Td (exchanged ) Tj ET Q q 0 0 0 rg BT 144.69 197.10 Td ($174.3 ) Tj ET Q q 0 0 0 rg BT 174.69 197.10 Td (million ) Tj ET Q q 0 0 0 rg BT 206.08 197.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 247.45 197.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 285.49 197.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 317.98 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 328.81 197.10 Td (our ) Tj ET Q q 0 0 0 rg BT 344.64 197.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 398.80 197.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 418.52 197.10 Td (for:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 185.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 185.10 Td ($74.1 ) Tj ET Q q 0 0 0 rg BT 109.76 185.10 Td (million ) Tj ET Q q 0 0 0 rg BT 140.41 185.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 181.03 185.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 218.33 185.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 250.09 185.10 Td (of ) Tj ET Q q 0 0 0 rg BT 260.18 185.10 Td (9�% ) Tj ET Q q 0 0 0 rg BT 282.77 185.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 310.63 185.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 344.60 185.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 375.80 185.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 395.88 185.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 420.97 185.10 Td (due ) Tj ET Q q 0 0 0 rg BT 437.17 185.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 458.93 185.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 476.23 185.10 Td (�2022 ) Tj ET Q q 0 0 0 rg BT 502.43 185.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 530.30 185.10 Td (Secured ) Tj ET Q BT 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(Convertible ) Tj ET Q q 0 0 0 rg BT 536.39 137.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 125.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 92.95 125.10 Td (due ) Tj ET Q q 0 0 0 rg BT 109.51 125.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 131.63 125.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 149.30 125.10 Td (�2024 ) Tj ET Q q 0 0 0 rg BT 175.86 125.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 225.20 125.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 253.43 125.10 Td (Notes�\) ) Tj ET Q q 0 0 0 rg BT 286.65 125.10 Td (and ) Tj ET Q q 0 0 0 rg BT 303.21 125.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 325.33 125.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 374.66 125.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 402.89 125.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 430.84 125.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 457.96 125.10 Td (in ) Tj ET Q q 0 0 0 rg BT 467.86 125.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.20 125.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 522.08 125.10 Td (above ) Tj ET Q q 0 0 0 rg BT 548.08 125.10 Td (and 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(the ) Tj ET Q q 0 0 0 rg BT 92.70 101.10 Td (indentures ) Tj ET Q q 0 0 0 rg BT 136.96 101.10 Td (for ) Tj ET Q q 0 0 0 rg BT 151.22 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 166.04 101.10 Td (notes, ) Tj ET Q q 0 0 0 rg BT 192.25 101.10 Td (which ) Tj ET Q q 0 0 0 rg BT 219.29 101.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 253.55 101.10 Td (in ) Tj ET Q q 0 0 0 rg BT 263.93 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.75 101.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 315.23 101.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.16 101.10 Td (55.2 ) Tj ET Q q 0 0 0 rg BT 346.26 101.10 Td (million ) Tj ET Q q 0 0 0 rg BT 377.76 101.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 405.35 101.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.28 101.10 Td (our ) Tj ET Q q 0 0 0 rg BT 432.22 101.10 Td (common ) Tj ET Q q 0 0 0 rg BT 469.81 101.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 493.53 101.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 516.13 101.10 Td (conversion. ) Tj ET Q q 0 0 0 rg BT 565.00 101.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 89.10 Td (As ) Tj ET Q q 0 0 0 rg BT 80.94 89.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.07 89.10 Td (April ) Tj ET Q q 0 0 0 rg BT 114.50 89.10 Td (18, ) Tj ET Q q 0 0 0 rg BT 129.33 89.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 151.65 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 168.41 89.10 Td (May ) Tj ET Q q 0 0 0 rg BT 189.06 89.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 203.88 89.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 228.70 89.10 Td (there ) Tj ET Q q 0 0 0 rg BT 251.01 89.10 Td (were ) Tj ET Q q 0 0 0 rg BT 272.76 89.10 Td (no ) Tj ET Q q 0 0 0 rg BT 285.08 89.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 327.95 89.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 350.27 89.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 399.80 89.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 428.23 89.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 453.88 89.10 Td (or ) Tj ET Q q 0 0 0 rg BT 464.54 89.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 486.86 89.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 536.39 89.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 77.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 93.33 77.10 Td (outstanding, ) Tj ET Q q 0 0 0 rg BT 145.00 77.10 Td (with ) Tj ET Q q 0 0 0 rg BT 165.27 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.99 77.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 226.37 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 237.20 77.10 Td (these ) Tj ET Q q 0 0 0 rg BT 260.24 77.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 283.85 77.10 Td (saving ) Tj ET Q q 0 0 0 rg BT 312.46 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.18 77.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 368.56 77.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 397.72 77.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 417.99 77.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 449.92 77.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 490.75 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.58 77.10 Td ($5.9 ) Tj ET Q q 0 0 0 rg BT 521.58 77.10 Td (million.) 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0 0 0 rg BT 292.44 701.25 Td (project ) Tj ET Q q 0 0 0 rg BT 323.31 701.25 Td (at ) Tj ET Q q 0 0 0 rg BT 333.63 701.25 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 360.61 701.25 Td (Creek ) Tj ET Q q 0 0 0 rg BT 386.90 701.25 Td (Anticline. ) Tj ET Q q 0 0 0 rg BT 429.71 701.25 Td ( ) Tj ET Q q 0 0 0 rg BT 432.59 701.25 Td (The ) Tj ET Q q 0 0 0 rg BT 451.24 701.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 480.99 701.25 Td (outlay ) Tj ET Q q 0 0 0 rg BT 509.09 701.25 Td (for ) Tj ET Q q 0 0 0 rg BT 523.85 701.25 Td (the ) Tj ET Q q 0 0 0 rg BT 539.17 701.25 Td (initial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.25 Td (phase ) Tj ET Q q 0 0 0 rg BT 74.57 689.25 Td (of ) Tj ET Q q 0 0 0 rg BT 85.20 689.25 Td (the ) Tj ET Q q 0 0 0 rg BT 99.71 689.25 Td (project ) Tj ET Q q 0 0 0 rg BT 129.78 689.25 Td (is ) Tj ET Q q 0 0 0 rg BT 138.75 689.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 177.14 689.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 217.76 689.25 Td (at ) Tj ET Q q 0 0 0 rg BT 227.28 689.25 Td 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BT 97.29 653.25 Td (fields. ) Tj ET Q q 0 0 0 rg BT 124.50 653.25 Td ( ) Tj ET Q q 0 0 0 rg BT 127.00 653.25 Td (First ) Tj ET Q q 0 0 0 rg BT 147.84 653.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 179.22 653.25 Td (production ) Tj ET Q q 0 0 0 rg BT 225.04 653.25 Td (is ) Tj ET Q q 0 0 0 rg BT 234.21 653.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 272.81 653.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 310.84 653.25 Td (in ) Tj ET Q q 0 0 0 rg BT 321.12 653.25 Td (the ) Tj ET Q q 0 0 0 rg BT 335.83 653.25 Td (second ) Tj ET Q q 0 0 0 rg BT 366.10 653.25 Td (half ) Tj ET Q q 0 0 0 rg BT 384.15 653.25 Td (of ) Tj ET Q q 0 0 0 rg BT 394.98 653.25 Td (2022 ) Tj ET Q q 0 0 0 rg BT 417.48 653.25 Td (or ) Tj ET Q q 0 0 0 rg BT 428.31 653.25 Td (early ) Tj ET Q q 0 0 0 rg BT 450.79 653.25 Td (2023.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 629.25 Td (Exploitation ) Tj ET Q q 0 0 0 rg BT 122.30 629.25 Td (Drilling ) Tj ET Q q 0 0 0 rg BT 157.66 629.25 Td (Update.� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.79 629.25 Td (Following ) Tj ET Q q 0 0 0 rg BT 238.92 629.25 Td (the ) Tj ET Q q 0 0 0 rg BT 253.15 629.25 Td (success ) Tj ET Q q 0 0 0 rg BT 285.16 629.25 Td (of ) Tj ET Q q 0 0 0 rg BT 295.51 629.25 Td (our ) Tj ET Q q 0 0 0 rg BT 310.85 629.25 Td (first ) Tj ET Q q 0 0 0 rg BT 328.98 629.25 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 378.76 629.25 Td (horizontal ) Tj ET Q q 0 0 0 rg BT 421.32 629.25 Td (well ) Tj ET Q q 0 0 0 rg BT 440.56 629.25 Td (in ) Tj ET Q q 0 0 0 rg BT 450.35 629.25 Td (the ) Tj ET Q q 0 0 0 rg BT 464.58 629.25 Td (Mission ) Tj ET Q q 0 0 0 rg BT 498.83 629.25 Td (Canyon ) Tj ET Q q 0 0 0 rg BT 531.96 629.25 Td (interval ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (at ) Tj ET Q q 0 0 0 rg BT 59.22 617.25 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 85.61 617.25 Td (Creek ) Tj ET Q q 0 0 0 rg BT 111.44 617.25 Td (Anticline ) Tj ET Q q 0 0 0 rg BT 151.15 617.25 Td (at ) Tj ET Q q 0 0 0 rg BT 160.88 617.25 Td (the ) Tj ET Q q 0 0 0 rg BT 175.60 617.25 Td (end ) Tj ET Q q 0 0 0 rg BT 192.55 617.25 Td (of ) Tj ET Q q 0 0 0 rg BT 203.38 617.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 228.39 617.25 Td (we ) Tj ET Q q 0 0 0 rg BT 242.56 617.25 Td (continued ) Tj ET Q q 0 0 0 rg BT 284.50 617.25 Td (and ) Tj ET Q q 0 0 0 rg BT 301.44 617.25 Td (expanded ) Tj ET Q q 0 0 0 rg BT 342.26 617.25 Td (this ) Tj ET Q q 0 0 0 rg BT 359.22 617.25 Td (program ) Tj ET Q q 0 0 0 rg BT 395.60 617.25 Td (into ) Tj ET Q q 0 0 0 rg BT 413.66 617.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 438.67 617.25 Td ( ) Tj ET Q q 0 0 0 rg BT 440.99 617.25 Td (T) Tj ET Q q 0 0 0 rg BT 446.40 617.25 Td (o ) Tj ET Q q 0 0 0 rg BT 453.91 617.25 Td (date, ) Tj ET Q q 0 0 0 rg BT 475.57 617.25 Td (we ) Tj ET Q q 0 0 0 rg BT 489.74 617.25 Td (have ) Tj ET Q q 0 0 0 rg BT 511.12 617.25 Td (drilled ) Tj ET Q q 0 0 0 rg BT 539.73 617.25 Td (seven ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (successful ) Tj ET Q q 0 0 0 rg BT 92.52 605.25 Td (Mission ) Tj ET Q q 0 0 0 rg BT 126.68 605.25 Td (Canyon ) Tj ET Q q 0 0 0 rg BT 159.71 605.25 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 209.40 605.25 Td (wells ) Tj ET Q q 0 0 0 rg BT 232.43 605.25 Td (and ) Tj ET Q q 0 0 0 rg BT 248.80 605.25 Td (a ) Tj ET Q q 0 0 0 rg BT 255.16 605.25 Td (successful ) Tj ET Q q 0 0 0 rg BT 298.18 605.25 Td (initial ) Tj ET Q q 0 0 0 rg BT 323.44 605.25 Td (test ) Tj ET Q q 0 0 0 rg BT 339.25 605.25 Td (well ) Tj ET Q q 0 0 0 rg BT 358.39 605.25 Td (in ) Tj ET Q q 0 0 0 rg BT 368.09 605.25 Td (Cabin ) Tj ET Q q 0 0 0 rg BT 393.90 605.25 Td (Creek�) Tj ET Q q 0 0 0 rg BT 420.55 605.25 Td (s ) Tj ET Q q 0 0 0 rg BT 426.37 605.25 Td (Charles ) Tj ET Q q 0 0 0 rg BT 458.84 605.25 Td (B ) Tj ET Q q 0 0 0 rg BT 467.43 605.25 Td (formation. ) Tj ET Q q 0 0 0 rg BT 511.29 605.25 Td ( ) Tj ET Q q 0 0 0 rg BT 513.08 605.25 Td (W) Tj ET Q q 0 0 0 rg BT 521.71 605.25 Td (e ) Tj ET Q q 0 0 0 rg BT 528.08 605.25 Td (continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.39 593.25 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 94.81 593.25 Td (the ) Tj ET Q q 0 0 0 rg BT 109.14 593.25 Td (Charles ) Tj ET Q q 0 0 0 rg BT 141.80 593.25 Td (B ) Tj ET Q q 0 0 0 rg BT 150.58 593.25 Td (formation ) Tj ET Q q 0 0 0 rg BT 192.12 593.25 Td (and ) Tj ET Q q 0 0 0 rg BT 208.67 593.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 239.65 593.25 Td (it ) Tj ET Q q 0 0 0 rg BT 247.32 593.25 Td (has ) Tj ET Q q 0 0 0 rg BT 262.76 593.25 Td (characteristics ) Tj ET Q q 0 0 0 rg BT 322.06 593.25 Td (that ) Tj ET Q q 0 0 0 rg BT 339.17 593.25 Td (would ) Tj ET Q q 0 0 0 rg BT 366.28 593.25 Td (make ) Tj ET Q q 0 0 0 rg BT 390.04 593.25 Td (it ) Tj ET Q q 0 0 0 rg BT 397.71 593.25 Td (a ) Tj ET Q q 0 0 0 rg BT 404.26 593.25 Td (good ) Tj ET Q q 0 0 0 rg BT 426.37 593.25 Td (candidate ) Tj ET Q q 0 0 0 rg BT 466.79 593.25 Td (for ) Tj ET Q q 0 0 0 rg BT 480.56 593.25 Td (secondary ) Tj ET Q q 0 0 0 rg BT 523.21 593.25 Td (or ) Tj ET Q q 0 0 0 rg BT 533.65 593.25 Td (tertiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (flooding. ) Tj ET Q q 0 0 0 rg BT 89.32 581.25 Td ( ) Tj ET Q q 0 0 0 rg BT 92.75 581.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 111.74 581.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 135.17 581.25 Td (development ) Tj ET Q q 0 0 0 rg BT 190.26 581.25 Td (plans ) Tj ET Q q 0 0 0 rg BT 214.80 581.25 Td (for ) Tj ET Q q 0 0 0 rg BT 229.90 581.25 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 257.21 581.25 Td (Creek ) Tj ET Q q 0 0 0 rg BT 283.76 581.25 Td (Anticline ) Tj ET Q q 0 0 0 rg BT 324.41 581.25 Td (include ) Tj ET Q q 0 0 0 rg BT 357.27 581.25 Td (up ) Tj ET Q q 0 0 0 rg BT 370.71 581.25 Td (to ) Tj ET Q q 0 0 0 rg BT 381.92 581.25 Td (four ) Tj ET Q q 0 0 0 rg BT 402.01 581.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 445.44 581.25 Td (Mission ) Tj ET Q q 0 0 0 rg BT 481.10 581.25 Td (Canyon ) Tj ET Q q 0 0 0 rg BT 515.65 581.25 Td (wells ) Tj ET Q q 0 0 0 rg BT 540.19 581.25 Td (and ) Tj ET Q q 0 0 0 rg BT 558.06 581.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 87.29 569.25 Td (Charles ) Tj ET Q q 0 0 0 rg BT 120.63 569.25 Td (B ) Tj ET Q q 0 0 0 rg BT 130.09 569.25 Td (follow-up ) Tj ET Q q 0 0 0 rg BT 172.33 569.25 Td (well. ) Tj ET Q q 0 0 0 rg BT 194.84 569.25 Td ( ) Tj ET Q q 0 0 0 rg BT 197.02 569.25 Td (At ) Tj ET Q q 0 0 0 rg BT 209.61 569.25 Td (T) Tj ET Q q 0 0 0 rg BT 215.37 569.25 Td (insley ) Tj ET Q q 0 0 0 rg BT 242.05 569.25 Td (Field, ) Tj ET Q q 0 0 0 rg BT 267.90 569.25 Td (we ) Tj ET Q q 0 0 0 rg BT 282.36 569.25 Td (completed ) Tj ET Q q 0 0 0 rg BT 326.80 569.25 Td (a ) Tj ET Q q 0 0 0 rg BT 334.04 569.25 Td (total ) Tj ET Q q 0 0 0 rg BT 354.61 569.25 Td (of ) Tj ET Q q 0 0 0 rg BT 365.73 569.25 Td (two ) Tj ET Q q 0 0 0 rg BT 383.53 569.25 Td (wells ) Tj ET Q q 0 0 0 rg BT 407.43 569.25 Td (in ) Tj ET Q q 0 0 0 rg BT 418.00 569.25 Td (the ) Tj ET Q q 0 0 0 rg BT 433.02 569.25 Td (Perry ) Tj ET Q q 0 0 0 rg BT 457.47 569.25 Td (Sand ) Tj ET Q q 0 0 0 rg BT 480.27 569.25 Td (interval ) Tj ET Q q 0 0 0 rg BT 513.60 569.25 Td (during ) Tj ET Q q 0 0 0 rg BT 542.51 569.25 Td (2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.25 Td (and ) Tj ET Q q 0 0 0 rg BT 67.24 557.25 Td (the ) Tj ET Q q 0 0 0 rg BT 82.77 557.25 Td (first ) Tj ET Q q 0 0 0 rg BT 102.18 557.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 133.80 557.25 Td (of ) Tj ET Q q 0 0 0 rg BT 145.44 557.25 Td (2019. ) Tj ET Q q 0 0 0 rg BT 171.24 557.25 Td ( ) Tj ET Q q 0 0 0 rg BT 174.55 557.25 Td (Overall, ) Tj ET Q q 0 0 0 rg BT 210.34 557.25 Td (the ) Tj ET Q q 0 0 0 rg BT 225.86 557.25 Td (two ) Tj ET Q q 0 0 0 rg BT 244.17 557.25 Td (Perry ) Tj ET Q q 0 0 0 rg BT 269.13 557.25 Td (wells ) Tj ET Q q 0 0 0 rg BT 293.55 557.25 Td (were ) Tj ET Q q 0 0 0 rg BT 316.28 557.25 Td (successful; ) Tj ET Q q 0 0 0 rg BT 363.46 557.25 Td (however) Tj ET Q q 0 0 0 rg BT 397.49 557.25 Td (, ) Tj ET Q q 0 0 0 rg BT 403.30 557.25 Td (we ) Tj ET Q q 0 0 0 rg BT 418.26 557.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 438.79 557.25 Td (to ) Tj ET Q q 0 0 0 rg BT 449.87 557.25 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 486.49 557.25 Td (the ) Tj ET Q q 0 0 0 rg BT 502.01 557.25 Td (economics ) Tj ET Q q 0 0 0 rg BT 548.08 557.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 102.08 545.25 Td (of ) Tj ET Q q 0 0 0 rg BT 112.48 545.25 Td (these ) Tj ET Q q 0 0 0 rg BT 135.09 545.25 Td (wells ) Tj ET Q q 0 0 0 rg BT 158.26 545.25 Td (before ) Tj ET Q q 0 0 0 rg BT 185.85 545.25 Td (drilling ) Tj ET Q q 0 0 0 rg BT 217.36 545.25 Td (any ) Tj ET Q q 0 0 0 rg BT 233.86 545.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 275.91 545.25 Td (wells. ) Tj ET Q q 0 0 0 rg BT 301.58 545.25 Td ( ) Tj ET Q q 0 0 0 rg BT 303.65 545.25 Td (In ) Tj ET Q q 0 0 0 rg BT 314.04 545.25 Td (December ) Tj ET Q q 0 0 0 rg BT 357.18 545.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 381.75 545.25 Td (we ) Tj ET Q q 0 0 0 rg BT 395.47 545.25 Td (spudded ) Tj ET Q q 0 0 0 rg BT 430.86 545.25 Td (our ) Tj ET Q q 0 0 0 rg BT 446.25 545.25 Td (first ) Tj ET Q q 0 0 0 rg BT 464.42 545.25 Td (well ) Tj ET Q q 0 0 0 rg BT 483.70 545.25 Td (in ) Tj ET Q q 0 0 0 rg BT 493.54 545.25 Td (the ) Tj ET Q q 0 0 0 rg BT 507.82 545.25 Td (Cotton ) Tj ET Q q 0 0 0 rg BT 536.96 545.25 Td (V) Tj ET Q q 0 0 0 rg BT 543.07 545.25 Td (alley ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (interval ) Tj ET Q q 0 0 0 rg BT 83.41 533.25 Td (at ) Tj ET Q q 0 0 0 rg BT 93.74 533.25 Td (T) Tj ET Q q 0 0 0 rg BT 99.50 533.25 Td (insley ) Tj ET Q q 0 0 0 rg BT 126.75 533.25 Td (Field ) Tj ET Q q 0 0 0 rg BT 150.67 533.25 Td (and ) Tj ET Q q 0 0 0 rg BT 168.47 533.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 207.93 533.25 Td (expect ) Tj ET Q q 0 0 0 rg BT 237.38 533.25 Td (to ) Tj ET Q q 0 0 0 rg BT 248.53 533.25 Td (complete ) Tj ET Q q 0 0 0 rg BT 288.54 533.25 Td (this ) Tj ET Q q 0 0 0 rg BT 306.35 533.25 Td (well ) Tj ET Q q 0 0 0 rg BT 326.93 533.25 Td (during ) Tj ET Q q 0 0 0 rg BT 356.40 533.25 Td (the ) Tj ET Q q 0 0 0 rg BT 371.98 533.25 Td (first ) Tj ET Q q 0 0 0 rg BT 391.46 533.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 423.13 533.25 Td (of ) Tj ET Q q 0 0 0 rg BT 434.83 533.25 Td (2019. ) Tj ET Q q 0 0 0 rg BT 460.69 533.25 Td ( ) Tj ET Q q 0 0 0 rg BT 463.81 533.25 Td (W) Tj ET Q q 0 0 0 rg BT 472.45 533.25 Td (e ) Tj ET Q q 0 0 0 rg BT 480.25 533.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 518.05 533.25 Td (to ) Tj ET Q q 0 0 0 rg BT 529.19 533.25 Td (evaluate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.25 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 99.21 521.25 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 153.92 521.25 Td (in ) Tj ET Q q 0 0 0 rg BT 163.63 521.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 205.56 521.25 Td (horizons ) Tj ET Q q 0 0 0 rg BT 241.94 521.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 287.20 521.25 Td (the ) Tj ET Q q 0 0 0 rg BT 301.35 521.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 334.96 521.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 348.85 519.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.10 521.25 Td ( ) Tj ET Q q 0 0 0 rg BT 354.03 521.25 Td (EOR ) Tj ET Q q 0 0 0 rg BT 375.97 521.25 Td (flood ) Tj ET Q q 0 0 0 rg BT 399.02 521.25 Td (at ) Tj ET Q q 0 0 0 rg BT 408.03 521.25 Td (T) Tj ET Q q 0 0 0 rg BT 413.79 521.25 Td (insley ) Tj ET Q q 0 0 0 rg BT 439.61 521.25 Td (Field. ) Tj ET Q q 0 0 0 rg BT 464.61 521.25 Td ( ) Tj ET Q q 0 0 0 rg BT 466.54 521.25 Td (Finally) Tj ET Q q 0 0 0 rg BT 494.23 521.25 Td (, ) Tj ET Q q 0 0 0 rg BT 498.67 521.25 Td (we ) Tj ET Q q 0 0 0 rg BT 512.27 521.25 Td (are ) Tj ET Q q 0 0 0 rg BT 526.41 521.25 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.25 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 93.80 509.25 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 144.22 509.25 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 199.64 509.25 Td (within ) Tj ET Q q 0 0 0 rg BT 227.85 509.25 Td (oil-bearing ) Tj ET Q q 0 0 0 rg BT 274.37 509.25 Td (formations ) Tj ET Q q 0 0 0 rg BT 320.35 509.25 Td (at ) Tj ET Q q 0 0 0 rg BT 330.22 509.25 Td (Conroe ) Tj ET Q q 0 0 0 rg BT 362.30 509.25 Td (Field, ) Tj ET Q q 0 0 0 rg BT 388.01 509.25 Td (and ) Tj ET Q q 0 0 0 rg BT 405.10 509.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 443.84 509.25 Td (plan ) Tj ET Q q 0 0 0 rg BT 463.71 509.25 Td (to ) Tj ET Q q 0 0 0 rg BT 474.14 509.25 Td (drill ) Tj ET Q q 0 0 0 rg BT 493.46 509.25 Td (a ) Tj ET Q q 0 0 0 rg BT 500.54 509.25 Td (test ) Tj ET Q q 0 0 0 rg BT 517.08 509.25 Td (well ) Tj ET Q q 0 0 0 rg BT 536.95 509.25 Td (within ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 497.25 Td (2A) Tj ET Q q 0 0 0 rg BT 75.89 497.25 Td ( ) Tj ET Q q 0 0 0 rg BT 78.39 497.25 Td (Sand ) Tj ET Q q 0 0 0 rg BT 100.89 497.25 Td (interval ) Tj ET Q q 0 0 0 rg BT 133.93 497.25 Td (during ) Tj ET Q q 0 0 0 rg BT 162.54 497.25 Td (2019.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 473.25 Td (CAPIT) Tj ET Q q 0 0 0 rg BT 79.87 473.25 Td (AL) Tj ET Q q 0 0 0 rg BT 93.21 473.25 Td ( ) Tj ET Q q 0 0 0 rg BT 95.71 473.25 Td (RESOURCES ) Tj ET Q q 0 0 0 rg BT 158.79 473.25 Td (AND ) Tj ET Q q 0 0 0 rg BT 182.95 473.25 Td (LIQUIDITY) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 449.25 Td (Overview) Tj ET Q q 0 0 0 rg BT 108.04 449.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.54 449.25 Td ( ) Tj ET Q q 0 0 0 rg BT 113.62 449.25 Td ( ) Tj ET Q q 0 0 0 rg BT 116.70 449.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 135.33 449.25 Td (primary ) Tj ET Q q 0 0 0 rg BT 170.06 449.25 Td (sources ) Tj ET Q q 0 0 0 rg BT 203.13 449.25 Td (of ) Tj ET Q q 0 0 0 rg BT 214.54 449.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 244.27 449.25 Td (and ) Tj ET Q q 0 0 0 rg BT 261.79 449.25 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 298.76 449.25 Td (are ) Tj ET Q q 0 0 0 rg BT 314.04 449.25 Td (our ) Tj ET Q q 0 0 0 rg BT 330.45 449.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 351.30 449.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 376.60 449.25 Td (from ) Tj ET Q q 0 0 0 rg BT 399.12 449.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 443.85 449.25 Td (and ) Tj ET Q q 0 0 0 rg BT 461.37 449.25 Td (availability ) Tj ET Q q 0 0 0 rg BT 509.43 449.25 Td (of ) Tj ET Q q 0 0 0 rg BT 520.84 449.25 Td (borrowing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (capacity ) Tj ET Q q 0 0 0 rg BT 85.26 437.25 Td (under ) Tj ET Q q 0 0 0 rg BT 110.48 437.25 Td (our ) Tj ET Q q 0 0 0 rg BT 126.27 437.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 153.16 437.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 186.15 437.25 Td (bank ) Tj ET Q q 0 0 0 rg BT 208.04 437.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 233.26 437.25 Td (facility) Tj ET Q q 0 0 0 rg BT 260.93 437.25 Td (. ) Tj ET Q q 0 0 0 rg BT 265.88 437.25 Td ( ) Tj ET Q q 0 0 0 rg BT 268.33 437.25 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.11 437.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.11 437.25 Td (, ) Tj ET Q q 0 0 0 rg BT 324.07 437.25 Td (we ) Tj ET Q q 0 0 0 rg BT 338.18 437.25 Td (generated ) Tj ET Q q 0 0 0 rg BT 379.49 437.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 399.72 437.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 424.39 437.25 Td (from ) Tj ET Q q 0 0 0 rg BT 446.28 437.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 490.39 437.25 Td (of ) Tj ET Q q 0 0 0 rg BT 501.17 437.25 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.17 437.25 Td (529.7 ) Tj ET Q q 0 0 0 rg BT 531.12 437.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.02 437.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (while ) Tj ET Q q 0 0 0 rg BT 75.18 425.25 Td (incurring ) Tj ET Q q 0 0 0 rg BT 115.29 425.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 145.40 425.25 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 199.95 425.25 Td (of ) Tj ET Q q 0 0 0 rg BT 211.74 425.25 Td ($322.7 ) Tj ET Q q 0 0 0 rg BT 242.70 425.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 277.55 425.25 Td (resulting ) Tj ET Q q 0 0 0 rg BT 316.01 425.25 Td (in ) Tj ET Q q 0 0 0 rg BT 327.25 425.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 388.46 425.25 Td ($80 ) Tj ET Q q 0 0 0 rg BT 406.92 425.25 Td (million ) Tj ET Q q 0 0 0 rg BT 439.28 425.25 Td (of ) Tj ET Q q 0 0 0 rg BT 451.06 425.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 472.29 425.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 494.08 425.25 Td (after ) Tj ET Q q 0 0 0 rg BT 515.86 425.25 Td (considering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 95.51 413.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 127.64 413.25 Td (and ) Tj ET Q q 0 0 0 rg BT 144.79 413.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 176.92 413.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 217.95 413.25 Td (treated ) Tj ET Q q 0 0 0 rg BT 247.85 413.25 Td (as ) Tj ET Q q 0 0 0 rg BT 258.89 413.25 Td (repayment ) Tj ET Q q 0 0 0 rg BT 303.79 413.25 Td (of ) Tj ET Q q 0 0 0 rg BT 314.82 413.25 Td (debt. ) Tj ET Q q 0 0 0 rg BT 337.24 413.25 Td ( ) Tj ET Q q 0 0 0 rg BT 339.95 413.25 Td (Over ) Tj ET Q q 0 0 0 rg BT 362.64 413.25 Td (the ) Tj ET Q q 0 0 0 rg BT 377.56 413.25 Td (last ) Tj ET Q q 0 0 0 rg BT 394.15 413.25 Td (several ) Tj ET Q q 0 0 0 rg BT 425.17 413.25 Td (years ) Tj ET Q q 0 0 0 rg BT 448.97 413.25 Td (of ) Tj ET Q q 0 0 0 rg BT 460.00 413.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 499.91 413.25 Td (lower ) Tj ET Q q 0 0 0 rg BT 525.38 413.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 538.64 413.25 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.25 Td (and ) Tj ET Q q 0 0 0 rg BT 67.06 401.25 Td (high ) Tj ET Q q 0 0 0 rg BT 87.97 401.25 Td (volatility) Tj ET Q q 0 0 0 rg BT 123.43 401.25 Td (, ) Tj ET Q q 0 0 0 rg BT 129.06 401.25 Td (we ) Tj ET Q q 0 0 0 rg BT 143.84 401.25 Td (have ) Tj ET Q q 0 0 0 rg BT 165.85 401.25 Td (remained ) Tj ET Q q 0 0 0 rg BT 206.17 401.25 Td (focused ) Tj ET Q q 0 0 0 rg BT 240.40 401.25 Td (on ) Tj ET Q q 0 0 0 rg BT 253.53 401.25 Td (our ) Tj ET Q q 0 0 0 rg BT 269.98 401.25 Td (disciplined ) Tj ET Q q 0 0 0 rg BT 316.99 401.25 Td (approach ) Tj ET Q q 0 0 0 rg BT 356.76 401.25 Td (of ) Tj ET Q q 0 0 0 rg BT 368.22 401.25 Td (living ) Tj ET Q q 0 0 0 rg BT 394.68 401.25 Td (within ) Tj ET Q q 0 0 0 rg BT 423.36 401.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 444.26 401.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 465.71 401.25 Td (and ) Tj ET Q q 0 0 0 rg BT 483.28 401.25 Td (preserving ) Tj ET Q q 0 0 0 rg BT 528.61 401.25 Td (liquidity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.25 Td (under ) Tj ET Q q 0 0 0 rg BT 75.02 389.25 Td (our ) Tj ET Q q 0 0 0 rg BT 91.10 389.25 Td (bank ) Tj ET Q q 0 0 0 rg BT 113.30 389.25 Td (line. ) Tj ET Q q 0 0 0 rg BT 133.54 389.25 Td ( ) Tj ET Q q 0 0 0 rg BT 136.30 389.25 Td (During ) Tj ET Q q 0 0 0 rg BT 167.38 389.25 Td (this ) Tj ET Q q 0 0 0 rg BT 184.58 389.25 Td (time, ) Tj ET Q q 0 0 0 rg BT 207.61 389.25 Td (we ) Tj ET Q q 0 0 0 rg BT 222.02 389.25 Td (have ) Tj ET Q q 0 0 0 rg BT 243.65 389.25 Td (also ) Tj ET Q q 0 0 0 rg BT 262.51 389.25 Td (remained ) Tj ET Q q 0 0 0 rg BT 302.47 389.25 Td (focused ) Tj ET Q q 0 0 0 rg BT 336.32 389.25 Td (on ) Tj ET Q q 0 0 0 rg BT 349.07 389.25 Td (improving ) Tj ET Q q 0 0 0 rg BT 393.49 389.25 Td (the ) Tj ET Q q 0 0 0 rg BT 408.46 389.25 Td (Company�) Tj ET Q q 0 0 0 rg BT 450.12 389.25 Td (s ) Tj ET Q q 0 0 0 rg BT 456.77 389.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 494.50 389.25 Td (position, ) Tj ET Q q 0 0 0 rg BT 531.98 389.25 Td (and ) Tj ET Q q 0 0 0 rg BT 549.17 389.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.25 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 377.25 Td (forts ) Tj ET Q q 0 0 0 rg BT 77.79 377.25 Td (resulted ) Tj ET Q q 0 0 0 rg BT 111.81 377.25 Td (in ) Tj ET Q q 0 0 0 rg BT 121.96 377.25 Td (a ) Tj ET Q q 0 0 0 rg BT 128.77 377.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 168.91 377.25 Td (of ) Tj ET Q q 0 0 0 rg BT 179.61 377.25 Td ($243.2 ) Tj ET Q q 0 0 0 rg BT 209.48 377.25 Td (million ) Tj ET Q q 0 0 0 rg BT 240.74 377.25 Td (in ) Tj ET Q q 0 0 0 rg BT 250.89 377.25 Td (our ) Tj ET Q q 0 0 0 rg BT 266.59 377.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 286.18 377.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 324.09 377.25 Td (since ) Tj ET Q q 0 0 0 rg BT 347.01 377.25 Td (year) Tj ET Q q 0 0 0 rg BT 364.01 377.25 Td (-end ) Tj ET Q q 0 0 0 rg BT 384.15 377.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 406.52 377.25 Td (and ) Tj ET Q q 0 0 0 rg BT 423.33 377.25 Td (a ) Tj ET Q q 0 0 0 rg BT 430.14 377.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 470.28 377.25 Td (of ) Tj ET Q q 0 0 0 rg BT 480.98 377.25 Td (over ) Tj ET Q q 0 0 0 rg BT 501.12 377.25 Td ($1 ) Tj ET Q q 0 0 0 rg BT 513.49 377.25 Td (billion ) Tj ET Q q 0 0 0 rg BT 541.97 377.25 Td (since ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 365.25 Td (end ) Tj ET Q q 0 0 0 rg BT 81.16 365.25 Td (of ) Tj ET Q q 0 0 0 rg BT 91.99 365.25 Td (2014. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 341.25 Td (In ) Tj ET Q q 0 0 0 rg BT 78.37 341.25 Td (total, ) Tj ET Q q 0 0 0 rg BT 101.17 341.25 Td (we ) Tj ET Q q 0 0 0 rg BT 115.37 341.25 Td (have ) Tj ET Q q 0 0 0 rg BT 136.78 341.25 Td (reduced ) Tj ET Q q 0 0 0 rg BT 170.96 341.25 Td (our ) Tj ET Q q 0 0 0 rg BT 186.83 341.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 236.03 341.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 255.78 341.25 Td (principal, ) Tj ET Q q 0 0 0 rg BT 296.36 341.25 Td (net ) Tj ET Q q 0 0 0 rg BT 311.11 341.25 Td (of ) Tj ET Q q 0 0 0 rg BT 321.98 341.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 342.28 341.25 Td (by ) Tj ET Q q 0 0 0 rg BT 354.82 341.25 Td (nearly ) Tj ET Q q 0 0 0 rg BT 382.34 341.25 Td ($1.1 ) Tj ET Q q 0 0 0 rg BT 402.38 341.25 Td (billion ) Tj ET Q q 0 0 0 rg BT 431.02 341.25 Td (between ) Tj ET Q q 0 0 0 rg BT 466.88 341.25 Td (December ) Tj ET Q q 0 0 0 rg BT 510.50 341.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 525.53 341.25 Td (2014 ) Tj ET Q q 0 0 0 rg BT 548.07 341.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.25 Td (December ) Tj ET Q q 0 0 0 rg BT 93.70 329.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 109.31 329.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 134.93 329.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 175.25 329.25 Td (through ) Tj ET Q q 0 0 0 rg BT 209.48 329.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 229.81 329.25 Td (exchanges, ) Tj ET Q q 0 0 0 rg BT 277.07 329.25 Td (opportunistic ) Tj ET Q q 0 0 0 rg BT 332.95 329.25 Td (open ) Tj ET Q q 0 0 0 rg BT 355.51 329.25 Td (market ) Tj ET Q q 0 0 0 rg BT 386.38 329.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 406.72 329.25 Td (repurchases, ) Tj ET Q q 0 0 0 rg BT 459.53 329.25 Td (and ) Tj ET Q q 0 0 0 rg BT 477.08 329.25 Td (the ) Tj ET Q q 0 0 0 rg BT 492.41 329.25 Td (conversion ) Tj ET Q q 0 0 0 rg BT 539.40 329.25 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 329.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.25 Td (second ) Tj ET Q q 0 0 0 rg BT 79.78 317.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 110.61 317.25 Td (of ) Tj ET Q q 0 0 0 rg BT 121.45 317.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 143.96 317.25 Td (of ) Tj ET Q q 0 0 0 rg BT 154.80 317.25 Td (all ) Tj ET Q q 0 0 0 rg BT 167.31 317.25 Td (of ) Tj ET Q q 0 0 0 rg BT 178.15 317.25 Td (our ) Tj ET Q q 0 0 0 rg BT 193.99 317.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 243.17 317.25 Td (convertible ) Tj ET Q q 0 0 0 rg BT 290.66 317.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 317.61 317.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 341.23 317.25 Td (into ) Tj ET Q q 0 0 0 rg BT 359.29 317.25 Td (common ) Tj ET Q q 0 0 0 rg BT 396.80 317.25 Td (stock. ) Tj ET Q q 0 0 0 rg BT 422.92 317.25 Td ( ) Tj ET Q q 0 0 0 rg BT 425.25 317.25 Td (W) Tj ET Q q 0 0 0 rg BT 433.89 317.25 Td (e ) Tj ET Q q 0 0 0 rg BT 440.84 317.25 Td (also ) Tj ET Q q 0 0 0 rg BT 459.46 317.25 Td (remain ) Tj ET Q q 0 0 0 rg BT 489.73 317.25 Td (keenly ) Tj ET Q q 0 0 0 rg BT 518.90 317.25 Td (focused ) Tj ET Q q 0 0 0 rg BT 552.51 317.25 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.25 Td (continuing ) Tj ET Q q 0 0 0 rg BT 95.34 305.25 Td (to ) Tj ET Q q 0 0 0 rg BT 106.19 305.25 Td (improve ) Tj ET Q q 0 0 0 rg BT 142.59 305.25 Td (our ) Tj ET Q q 0 0 0 rg BT 158.99 305.25 Td (overall ) Tj ET Q q 0 0 0 rg BT 189.82 305.25 Td (leverage ) Tj ET Q q 0 0 0 rg BT 226.75 305.25 Td (metrics. ) Tj ET Q q 0 0 0 rg BT 261.76 305.25 Td ( ) Tj ET Q q 0 0 0 rg BT 264.83 305.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 283.45 305.25 Td (leverage ) Tj ET Q q 0 0 0 rg BT 320.38 305.25 Td (metrics ) Tj ET Q q 0 0 0 rg BT 352.89 305.25 Td (have ) Tj ET Q q 0 0 0 rg BT 374.83 305.25 Td (improved ) Tj ET Q q 0 0 0 rg BT 416.23 305.25 Td (considerably ) Tj ET Q q 0 0 0 rg BT 470.39 305.25 Td (over ) Tj ET Q q 0 0 0 rg BT 491.23 305.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.52 305.25 Td (past ) Tj ET Q q 0 0 0 rg BT 525.70 305.25 Td (year) Tj ET Q q 0 0 0 rg BT 542.51 305.25 Td (, ) Tj ET Q q 0 0 0 rg BT 548.08 305.25 Td (due ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 88.88 293.25 Td (to ) Tj ET Q q 0 0 0 rg BT 98.82 293.25 Td (our ) Tj ET Q q 0 0 0 rg BT 114.32 293.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 132.59 293.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 172.52 293.25 Td (ef) Tj ET Q q 0 0 0 rg BT 180.11 293.25 Td (forts, ) Tj ET Q q 0 0 0 rg BT 203.10 293.25 Td (continued ) Tj ET Q q 0 0 0 rg BT 244.70 293.25 Td (improvement ) Tj ET Q q 0 0 0 rg BT 300.19 293.25 Td (in ) Tj ET Q q 0 0 0 rg BT 310.13 293.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 322.85 293.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 348.90 293.25 Td (and ) Tj ET Q q 0 0 0 rg BT 365.50 293.25 Td (our ) Tj ET Q q 0 0 0 rg BT 381.00 293.25 Td (overall ) Tj ET Q q 0 0 0 rg BT 410.93 293.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 450.85 293.25 Td (in ) Tj ET Q q 0 0 0 rg BT 460.80 293.25 Td (debt. ) Tj ET Q q 0 0 0 rg BT 482.68 293.25 Td ( ) Tj ET Q q 0 0 0 rg BT 484.85 293.25 Td (In ) Tj ET Q q 0 0 0 rg BT 495.34 293.25 Td (conjunction ) Tj ET Q q 0 0 0 rg BT 544.72 293.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.25 Td (our ) Tj ET Q q 0 0 0 rg BT 66.15 281.25 Td (ef) Tj ET Q q 0 0 0 rg BT 73.73 281.25 Td (forts ) Tj ET Q q 0 0 0 rg BT 95.38 281.25 Td (to ) Tj ET Q q 0 0 0 rg BT 106.48 281.25 Td (improve ) Tj ET Q q 0 0 0 rg BT 143.12 281.25 Td (the ) Tj ET Q q 0 0 0 rg BT 158.65 281.25 Td (Company�) Tj ET Q q 0 0 0 rg BT 200.32 281.25 Td (s ) Tj ET Q q 0 0 0 rg BT 207.53 281.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 241.38 281.25 Td (sheet, ) Tj ET Q q 0 0 0 rg BT 267.74 281.25 Td (we ) Tj ET Q q 0 0 0 rg BT 282.72 281.25 Td (may ) Tj ET Q q 0 0 0 rg BT 303.25 281.25 Td (have ) Tj ET Q q 0 0 0 rg BT 325.44 281.25 Td (discussions ) Tj ET Q q 0 0 0 rg BT 374.32 281.25 Td (with ) Tj ET Q q 0 0 0 rg BT 395.42 281.25 Td (bondholders ) Tj ET Q q 0 0 0 rg BT 448.17 281.25 Td (from ) Tj ET Q q 0 0 0 rg BT 470.93 281.25 Td (time ) Tj ET Q q 0 0 0 rg BT 492.02 281.25 Td (to ) Tj ET Q q 0 0 0 rg BT 503.11 281.25 Td (time ) Tj ET Q q 0 0 0 rg BT 524.20 281.25 Td (regarding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 86.99 269.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 106.71 269.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 146.97 269.25 Td (or ) Tj ET Q q 0 0 0 rg BT 157.80 269.25 Td (maturity ) Tj ET Q q 0 0 0 rg BT 194.18 269.25 Td (extension ) Tj ET Q q 0 0 0 rg BT 235.01 269.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 285.27 269.25 Td (of ) Tj ET Q q 0 0 0 rg BT 296.10 269.25 Td (various ) Tj ET Q q 0 0 0 rg BT 328.04 269.25 Td (types.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 245.25 Td (For ) Tj ET Q q 0 0 0 rg BT 83.98 245.25 Td (2019, ) Tj ET Q q 0 0 0 rg BT 109.07 245.25 Td (we ) Tj ET Q q 0 0 0 rg BT 123.32 245.25 Td (have ) Tj ET Q q 0 0 0 rg BT 144.78 245.25 Td (budgeted ) Tj ET Q q 0 0 0 rg BT 184.02 245.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 213.26 245.25 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 266.94 245.25 Td (in ) Tj ET Q q 0 0 0 rg BT 277.31 245.25 Td (a ) Tj ET Q q 0 0 0 rg BT 284.34 245.25 Td (range ) Tj ET Q q 0 0 0 rg BT 309.13 245.25 Td (of ) Tj ET Q q 0 0 0 rg BT 320.05 245.25 Td ($240 ) Tj ET Q q 0 0 0 rg BT 342.64 245.25 Td (million ) Tj ET Q q 0 0 0 rg BT 374.12 245.25 Td (to ) Tj ET Q q 0 0 0 rg BT 384.48 245.25 Td ($260 ) Tj ET Q q 0 0 0 rg BT 407.07 245.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 441.05 245.25 Td (which ) Tj ET Q q 0 0 0 rg BT 468.08 245.25 Td (is ) Tj ET Q q 0 0 0 rg BT 477.33 245.25 Td (significantly ) Tj ET Q q 0 0 0 rg BT 529.91 245.25 Td (less ) Tj ET Q q 0 0 0 rg BT 547.50 245.25 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.25 233.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 111.54 233.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 131.73 233.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 152.48 233.25 Td (from ) Tj ET Q q 0 0 0 rg BT 174.34 233.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 218.42 233.25 Td (utilizing ) Tj ET Q q 0 0 0 rg BT 254.17 233.25 Td (a ) Tj ET Q q 0 0 0 rg BT 261.03 233.25 Td (flat ) Tj ET Q q 0 0 0 rg BT 276.78 233.25 Td ($50/Bbl ) Tj ET Q q 0 0 0 rg BT 311.43 233.25 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 350.52 233.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 363.49 233.25 Td (price. ) Tj ET Q q 0 0 0 rg BT 388.40 233.25 Td ( ) Tj ET Q q 0 0 0 rg BT 390.65 233.25 Td (W) Tj ET Q q 0 0 0 rg BT 399.29 233.25 Td (e ) Tj ET Q q 0 0 0 rg BT 406.15 233.25 Td (also ) Tj ET Q q 0 0 0 rg BT 424.68 233.25 Td (have ) Tj ET Q q 0 0 0 rg BT 445.98 233.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 458.95 233.25 Td (price ) Tj ET Q q 0 0 0 rg BT 481.36 233.25 Td (hedges ) Tj ET Q q 0 0 0 rg BT 511.55 233.25 Td (on ) Tj ET Q q 0 0 0 rg BT 523.97 233.25 Td (over ) Tj ET Q q 0 0 0 rg BT 544.16 233.25 Td (60% ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.97 221.25 Td (our ) Tj ET Q q 0 0 0 rg BT 77.45 221.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 118.91 221.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 142.05 221.25 Td (production, ) Tj ET Q q 0 0 0 rg BT 191.02 221.25 Td (protecting ) Tj ET Q q 0 0 0 rg BT 234.71 221.25 Td (a ) Tj ET Q q 0 0 0 rg BT 242.29 221.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 274.32 221.25 Td (of ) Tj ET Q q 0 0 0 rg BT 285.79 221.25 Td (our ) Tj ET Q q 0 0 0 rg BT 302.27 221.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 323.18 221.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 348.55 221.25 Td (in ) Tj ET Q q 0 0 0 rg BT 359.47 221.25 Td (case ) Tj ET Q q 0 0 0 rg BT 379.82 221.25 Td (we ) Tj ET Q q 0 0 0 rg BT 394.62 221.25 Td (experience ) Tj ET Q q 0 0 0 rg BT 441.07 221.25 Td (another ) Tj ET Q q 0 0 0 rg BT 474.20 221.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 519.55 221.25 Td (drop ) Tj ET Q q 0 0 0 rg BT 541.02 221.25 Td (in ) Tj ET Q q 0 0 0 rg BT 551.95 221.25 Td (oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.25 Td (prices. ) Tj ET Q q 0 0 0 rg BT 77.99 209.25 Td ( ) Tj ET Q q 0 0 0 rg BT 79.96 209.25 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 123.98 209.25 Td (we ) Tj ET Q q 0 0 0 rg BT 137.76 209.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 168.75 209.25 Td (we ) Tj ET Q q 0 0 0 rg BT 182.52 209.25 Td (have ) Tj ET Q q 0 0 0 rg BT 203.52 209.25 Td (ample ) Tj ET Q q 0 0 0 rg BT 230.07 209.25 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 266.07 209.25 Td (from ) Tj ET Q q 0 0 0 rg BT 287.63 209.25 Td (the ) Tj ET Q q 0 0 0 rg BT 301.96 209.25 Td (free ) Tj ET Q q 0 0 0 rg BT 319.61 209.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 339.50 209.25 Td (flow ) Tj ET Q q 0 0 0 rg BT 359.94 209.25 Td (we ) Tj ET Q q 0 0 0 rg BT 373.72 209.25 Td (project ) Tj ET Q q 0 0 0 rg BT 403.60 209.25 Td (to ) Tj ET Q q 0 0 0 rg BT 413.49 209.25 Td (generate ) Tj ET Q q 0 0 0 rg BT 449.47 209.25 Td (at ) Tj ET Q q 0 0 0 rg BT 458.80 209.25 Td ($50/Bbl ) Tj ET Q q 0 0 0 rg BT 493.15 209.25 Td (oil, ) Tj ET Q q 0 0 0 rg BT 508.32 209.25 Td (or ) Tj ET Q q 0 0 0 rg BT 518.76 209.25 Td (even ) Tj ET Q q 0 0 0 rg BT 539.76 209.25 Td (lower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.25 Td (prices, ) Tj ET Q q 0 0 0 rg BT 77.60 197.25 Td (in ) Tj ET Q q 0 0 0 rg BT 87.11 197.25 Td (2019, ) Tj ET Q q 0 0 0 rg BT 111.34 197.25 Td (and ) Tj ET Q q 0 0 0 rg BT 127.50 197.25 Td (the ) Tj ET Q q 0 0 0 rg BT 141.45 197.25 Td (approximate ) Tj ET Q q 0 0 0 rg BT 193.16 197.25 Td ($553.0 ) Tj ET Q q 0 0 0 rg BT 222.38 197.25 Td (million ) Tj ET Q q 0 0 0 rg BT 253.00 197.25 Td (of ) Tj ET Q q 0 0 0 rg BT 263.06 197.25 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 298.68 197.25 Td (available ) Tj ET Q q 0 0 0 rg BT 336.50 197.25 Td (under ) Tj ET Q q 0 0 0 rg BT 360.99 197.25 Td (our ) Tj ET Q q 0 0 0 rg BT 376.05 197.25 Td (bank ) Tj ET Q q 0 0 0 rg BT 397.22 197.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 421.71 197.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 451.75 197.25 Td (to ) Tj ET Q q 0 0 0 rg BT 461.26 197.25 Td (cover ) Tj ET Q q 0 0 0 rg BT 485.20 197.25 Td (any ) Tj ET Q q 0 0 0 rg BT 501.36 197.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 529.19 197.25 Td (working ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 78.36 185.25 Td (needs. ) Tj ET Q q 0 0 0 rg BT 105.83 185.25 Td ( ) Tj ET Q q 0 0 0 rg BT 107.55 185.25 Td (As ) Tj ET Q q 0 0 0 rg BT 120.87 185.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 161.41 185.25 Td (above ) Tj ET Q q 0 0 0 rg BT 187.49 185.25 Td (in ) Tj ET Q q 0 0 0 rg BT 197.47 185.25 Td (�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 201.91 185.25 Td (Overview ) Tj ET Q q 0 0 0 rg BT 242.43 185.25 Td (� ) Tj ET Q q 0 0 0 rg BT 249.48 185.25 Td (Agr) Tj ET Q q 0 0 0 rg BT 264.11 185.25 Td (eement ) Tj ET Q q 0 0 0 rg BT 294.63 185.25 Td (to ) Tj ET Q q 0 0 0 rg BT 304.45 185.25 Td (Acquir) Tj ET Q q 0 0 0 rg BT 331.30 185.25 Td (e ) Tj ET Q q 0 0 0 rg BT 337.94 185.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 360.70 185.25 Td (V) Tj ET Q q 0 0 0 rg BT 366.06 185.25 Td (ir) Tj ET Q q 0 0 0 rg BT 372.36 185.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 395.13 185.25 Td (Corporation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.13 185.25 Td (,� ) Tj ET Q q 0 0 0 rg BT 454.28 185.25 Td (we ) Tj ET Q q 0 0 0 rg BT 468.15 185.25 Td (have ) Tj ET Q q 0 0 0 rg BT 489.23 185.25 Td (signed ) Tj ET Q q 0 0 0 rg BT 517.54 185.25 Td (a ) Tj ET Q q 0 0 0 rg BT 524.19 185.25 Td (definitive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 93.73 173.25 Td (to ) Tj ET Q q 0 0 0 rg BT 104.09 173.25 Td (acquire ) Tj ET Q q 0 0 0 rg BT 136.10 173.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 158.49 173.25 Td (V) Tj ET Q q 0 0 0 rg BT 165.11 173.25 Td (ir) Tj ET Q q 0 0 0 rg BT 171.04 173.25 Td (ginia, ) Tj ET Q q 0 0 0 rg BT 196.12 173.25 Td (and ) Tj ET Q q 0 0 0 rg BT 213.15 173.25 Td (votes ) Tj ET Q q 0 0 0 rg BT 236.84 173.25 Td (by ) Tj ET Q q 0 0 0 rg BT 249.42 173.25 Td (holders ) Tj ET Q q 0 0 0 rg BT 281.45 173.25 Td (of ) Tj ET Q q 0 0 0 rg BT 292.36 173.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 314.76 173.25 Td (V) Tj ET Q q 0 0 0 rg BT 321.38 173.25 Td (ir) Tj ET Q q 0 0 0 rg BT 327.31 173.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 349.89 173.25 Td (and ) Tj ET Q q 0 0 0 rg BT 366.91 173.25 Td (our ) Tj ET Q q 0 0 0 rg BT 382.82 173.25 Td (common ) Tj ET Q q 0 0 0 rg BT 420.40 173.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 444.10 173.25 Td (are ) Tj ET Q q 0 0 0 rg BT 458.89 173.25 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 501.46 173.25 Td (to ) Tj ET Q q 0 0 0 rg BT 511.82 173.25 Td (take ) Tj ET Q q 0 0 0 rg BT 531.06 173.25 Td (place ) Tj ET Q q 0 0 0 rg BT 554.74 173.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.25 Td (mid-April ) Tj ET Q q 0 0 0 rg BT 91.94 161.25 Td (2019. ) Tj ET Q q 0 0 0 rg BT 116.88 161.25 Td ( ) Tj ET Q q 0 0 0 rg BT 119.14 161.25 Td (The ) Tj ET Q q 0 0 0 rg BT 137.13 161.25 Td (primary ) Tj ET Q q 0 0 0 rg BT 171.23 161.25 Td (source ) Tj ET Q q 0 0 0 rg BT 199.77 161.25 Td (of ) Tj ET Q q 0 0 0 rg BT 210.54 161.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 230.75 161.25 Td (for ) Tj ET Q q 0 0 0 rg BT 244.85 161.25 Td (the ) Tj ET Q q 0 0 0 rg BT 259.51 161.25 Td (proposed ) Tj ET Q q 0 0 0 rg BT 298.61 161.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 344.93 161.25 Td (of ) Tj ET Q q 0 0 0 rg BT 355.71 161.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 377.97 161.25 Td (V) Tj ET Q q 0 0 0 rg BT 384.59 161.25 Td (ir) Tj ET Q q 0 0 0 rg BT 390.52 161.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 412.96 161.25 Td (is ) Tj ET Q q 0 0 0 rg BT 422.07 161.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 468.38 161.25 Td (to ) Tj ET Q q 0 0 0 rg BT 478.60 161.25 Td (be ) Tj ET Q q 0 0 0 rg BT 490.48 161.25 Td (a ) Tj ET Q q 0 0 0 rg BT 497.36 161.25 Td (new ) Tj ET Q q 0 0 0 rg BT 516.46 161.25 Td ($1.2 ) Tj ET Q q 0 0 0 rg BT 536.40 161.25 Td (billion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 76.91 149.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 110.43 149.25 Td (revolving ) Tj ET Q q 0 0 0 rg BT 151.73 149.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 177.46 149.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 208.76 149.25 Td (with ) Tj ET Q q 0 0 0 rg BT 229.51 149.25 Td (a ) Tj ET Q q 0 0 0 rg BT 236.93 149.25 Td (maturity ) Tj ET Q q 0 0 0 rg BT 273.78 149.25 Td (date ) Tj ET Q q 0 0 0 rg BT 293.41 149.25 Td (of ) Tj ET Q q 0 0 0 rg BT 304.72 149.25 Td (December ) Tj ET Q q 0 0 0 rg BT 348.78 149.25 Td (9, ) Tj ET Q q 0 0 0 rg BT 359.25 149.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 382.23 149.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 396.86 149.25 Td (earlier ) Tj ET Q q 0 0 0 rg BT 425.37 149.25 Td (in ) Tj ET Q q 0 0 0 rg BT 436.13 149.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 459.10 149.25 Td (in ) Tj ET Q q 0 0 0 rg BT 469.85 149.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 500.03 149.25 Td (circumstances\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.25 Td (which ) Tj ET Q q 0 0 0 rg BT 75.96 137.25 Td (would ) Tj ET Q q 0 0 0 rg BT 102.98 137.25 Td (replace ) Tj ET Q q 0 0 0 rg BT 133.86 137.25 Td (our ) Tj ET Q q 0 0 0 rg BT 149.21 137.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 182.90 137.25 Td (facility) Tj ET Q q 0 0 0 rg BT 210.57 137.25 Td (, ) Tj ET Q q 0 0 0 rg BT 215.09 137.25 Td (and ) Tj ET Q q 0 0 0 rg BT 231.55 137.25 Td (a ) Tj ET Q q 0 0 0 rg BT 238.01 137.25 Td ($400 ) Tj ET Q q 0 0 0 rg BT 260.03 137.25 Td (million ) Tj ET Q q 0 0 0 rg BT 290.94 137.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 317.40 137.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 349.96 137.25 Td (second ) Tj ET Q q 0 0 0 rg BT 379.75 137.25 Td (lien ) Tj ET Q q 0 0 0 rg BT 396.76 137.25 Td (bridge ) Tj ET Q q 0 0 0 rg BT 424.33 137.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 454.67 137.25 Td (to ) Tj ET Q q 0 0 0 rg BT 464.47 137.25 Td (be ) Tj ET Q q 0 0 0 rg BT 475.93 137.25 Td (available ) Tj ET Q q 0 0 0 rg BT 514.04 137.25 Td (to ) Tj ET Q q 0 0 0 rg BT 523.84 137.25 Td (the ) Tj ET Q q 0 0 0 rg BT 538.07 137.25 Td (extent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 87.27 125.25 Td (does ) Tj ET Q q 0 0 0 rg BT 108.38 125.25 Td (not ) Tj ET Q q 0 0 0 rg BT 123.95 125.25 Td (secure ) Tj ET Q q 0 0 0 rg BT 152.26 125.25 Td (alternate ) Tj ET Q q 0 0 0 rg BT 189.47 125.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 230.01 125.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 252.23 125.25 Td (to ) Tj ET Q q 0 0 0 rg BT 262.18 125.25 Td (April ) Tj ET Q q 0 0 0 rg BT 286.07 125.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 301.35 125.25 Td (2019. ) Tj ET Q q 0 0 0 rg BT 326.63 125.25 Td ( ) Tj ET Q q 0 0 0 rg BT 329.21 125.25 Td (These ) Tj ET Q q 0 0 0 rg BT 355.87 125.25 Td (two ) Tj ET Q q 0 0 0 rg BT 373.66 125.25 Td (new ) Tj ET Q q 0 0 0 rg BT 393.10 125.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 413.10 125.25 Td (financings ) Tj ET Q q 0 0 0 rg BT 457.54 125.25 Td (are ) Tj ET Q q 0 0 0 rg BT 472.52 125.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 510.84 125.25 Td (to ) Tj ET Q q 0 0 0 rg BT 521.40 125.25 Td (be ) Tj ET Q q 0 0 0 rg BT 533.62 125.25 Td (used ) Tj ET Q q 0 0 0 rg BT 554.73 125.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.25 Td (fully ) Tj ET Q q 0 0 0 rg BT 71.46 113.25 Td (or ) Tj ET Q q 0 0 0 rg BT 82.87 113.25 Td (partially ) Tj ET Q q 0 0 0 rg BT 119.26 113.25 Td (fund ) Tj ET Q q 0 0 0 rg BT 140.67 113.25 Td (the ) Tj ET Q q 0 0 0 rg BT 155.96 113.25 Td ($400 ) Tj ET Q q 0 0 0 rg BT 179.04 113.25 Td (million ) Tj ET Q q 0 0 0 rg BT 211.00 113.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 231.85 113.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 263.81 113.25 Td (of ) Tj ET Q q 0 0 0 rg BT 275.21 113.25 Td (the ) Tj ET Q q 0 0 0 rg BT 290.50 113.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 347.45 113.25 Td (in ) Tj ET Q q 0 0 0 rg BT 358.31 113.25 Td (the ) Tj ET Q q 0 0 0 rg BT 373.60 113.25 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 423.05 113.25 Td (potentially ) Tj ET Q q 0 0 0 rg BT 468.90 113.25 Td (retire ) Tj ET Q q 0 0 0 rg BT 493.07 113.25 Td (and ) Tj ET Q q 0 0 0 rg BT 510.58 113.25 Td (replace ) Tj ET Q q 0 0 0 rg BT 542.52 113.25 Td (Penn ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.25 Td (V) Tj ET Q q 0 0 0 rg BT 56.12 101.25 Td (ir) Tj ET Q q 0 0 0 rg BT 62.05 101.25 Td (ginia�) Tj ET Q q 0 0 0 rg BT 84.82 101.25 Td (s ) Tj ET Q q 0 0 0 rg BT 90.90 101.25 Td ($200 ) Tj ET Q q 0 0 0 rg BT 113.09 101.25 Td (million ) Tj ET Q q 0 0 0 rg BT 144.17 101.25 Td (second ) Tj ET Q q 0 0 0 rg BT 174.12 101.25 Td (lien ) Tj ET Q q 0 0 0 rg BT 191.31 101.25 Td (term ) Tj ET Q q 0 0 0 rg BT 211.82 101.25 Td (loan, ) Tj ET Q q 0 0 0 rg BT 233.72 101.25 Td (replace ) Tj ET Q q 0 0 0 rg BT 264.77 101.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 286.80 101.25 Td (V) Tj ET Q q 0 0 0 rg BT 293.42 101.25 Td (ir) Tj ET Q q 0 0 0 rg BT 299.35 101.25 Td (ginia�) Tj ET Q q 0 0 0 rg BT 322.13 101.25 Td (s ) Tj ET Q q 0 0 0 rg BT 328.20 101.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 362.06 101.25 Td (bank ) Tj ET Q q 0 0 0 rg BT 383.68 101.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 408.63 101.25 Td (facility) Tj ET Q q 0 0 0 rg BT 436.30 101.25 Td (, ) Tj ET Q q 0 0 0 rg BT 440.99 101.25 Td (which ) Tj ET Q q 0 0 0 rg BT 467.62 101.25 Td (had ) Tj ET Q q 0 0 0 rg BT 484.24 101.25 Td ($321 ) Tj ET Q q 0 0 0 rg BT 506.43 101.25 Td (million ) Tj ET Q q 0 0 0 rg BT 537.51 101.25 Td (drawn ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 89.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 115.60 89.25 Td (as ) Tj ET Q q 0 0 0 rg BT 126.43 89.25 Td (of ) Tj ET Q q 0 0 0 rg BT 137.26 89.25 Td (December ) Tj ET Q q 0 0 0 rg BT 180.85 89.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 195.85 89.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 220.85 89.25 Td (and ) Tj ET Q q 0 0 0 rg BT 237.79 89.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 254.72 89.25 Td (fees ) Tj ET Q q 0 0 0 rg BT 273.32 89.25 Td (and ) Tj ET Q q 0 0 0 rg BT 290.26 89.25 Td (expenses.) Tj ET Q endstream endobj 85 0 obj <> endobj 86 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 713.10 Td (Looking ) Tj ET Q q 0 0 0 rg BT 103.77 713.10 Td (forward, ) Tj ET Q q 0 0 0 rg BT 140.30 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 154.34 713.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 173.94 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 184.09 713.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 220.91 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 236.62 713.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 260.66 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 271.37 713.10 Td (living ) Tj ET Q q 0 0 0 rg BT 297.08 713.10 Td (within ) Tj ET Q q 0 0 0 rg BT 325.02 713.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 345.17 713.10 Td (flow) Tj ET Q q 0 0 0 rg BT 362.85 713.10 Td (, ) Tj ET Q q 0 0 0 rg BT 367.73 713.10 Td (while ) Tj ET Q q 0 0 0 rg BT 392.33 713.10 Td (seeking ) Tj ET Q q 0 0 0 rg BT 425.26 713.10 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 480.41 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 490.57 713.10 Td (further ) Tj ET Q q 0 0 0 rg BT 520.16 713.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 549.18 713.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (leverage ) Tj ET Q q 0 0 0 rg BT 86.00 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 103.07 701.10 Td (improve ) Tj ET Q q 0 0 0 rg BT 139.03 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.89 701.10 Td (Company�) Tj ET Q q 0 0 0 rg BT 195.55 701.10 Td (s ) Tj ET Q q 0 0 0 rg BT 202.08 701.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 239.69 701.10 Td (condition. ) Tj ET Q q 0 0 0 rg BT 282.60 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 285.24 701.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 303.43 701.10 Td (first ) Tj ET Q q 0 0 0 rg BT 322.17 701.10 Td (maturities ) Tj ET Q q 0 0 0 rg BT 364.80 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.76 701.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 395.62 701.10 Td (are ) Tj ET Q q 0 0 0 rg BT 410.46 701.10 Td (not ) Tj ET Q q 0 0 0 rg BT 425.87 701.10 Td (until ) Tj ET Q q 0 0 0 rg BT 446.84 701.10 Td (2021, ) Tj ET Q q 0 0 0 rg BT 471.98 701.10 Td (so ) Tj ET Q q 0 0 0 rg BT 483.51 701.10 Td (we ) Tj ET Q q 0 0 0 rg BT 497.80 701.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 517.65 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 528.07 701.10 Td (continue ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.34 689.10 Td (ef) Tj ET Q q 0 0 0 rg BT 72.93 689.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 93.78 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 104.07 689.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 133.23 689.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 152.96 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 169.91 689.10 Td (extend ) Tj ET Q q 0 0 0 rg BT 199.08 689.10 Td (maturities ) Tj ET Q q 0 0 0 rg BT 241.58 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 252.43 689.10 Td (our ) Tj ET Q q 0 0 0 rg BT 268.27 689.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 288.00 689.10 Td (over ) Tj ET Q q 0 0 0 rg BT 308.28 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 323.01 689.10 Td (next ) Tj ET Q q 0 0 0 rg BT 342.74 689.10 Td (two ) Tj ET Q q 0 0 0 rg BT 360.26 689.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 386.37 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 388.70 689.10 Td (W) Tj ET Q q 0 0 0 rg BT 397.34 689.10 Td (e ) Tj ET Q q 0 0 0 rg BT 404.29 689.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 435.68 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.41 689.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 496.80 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 507.65 689.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 529.98 689.10 Td (V) Tj ET Q q 0 0 0 rg BT 536.60 689.10 Td (ir) Tj ET Q q 0 0 0 rg BT 542.53 689.10 Td (ginia ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (would ) Tj ET Q q 0 0 0 rg BT 77.19 677.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 129.87 677.10 Td (improve ) Tj ET Q q 0 0 0 rg BT 165.89 677.10 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 203.66 677.10 Td (s ) Tj ET Q q 0 0 0 rg BT 210.24 677.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 250.70 677.10 Td (results ) Tj ET Q q 0 0 0 rg BT 279.50 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.63 677.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 329.85 677.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 353.09 677.10 Td (by ) Tj ET Q q 0 0 0 rg BT 365.78 677.10 Td (creating ) Tj ET Q q 0 0 0 rg BT 400.68 677.10 Td (a ) Tj ET Q q 0 0 0 rg BT 407.81 677.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 460.49 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.51 677.10 Td (short-cycle ) Tj ET Q q 0 0 0 rg BT 518.63 677.10 Td (investment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (opportunities ) Tj ET Q q 0 0 0 rg BT 105.97 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 117.44 665.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 140.87 665.10 Td (V) Tj ET Q q 0 0 0 rg BT 147.49 665.10 Td (ir) Tj ET Q q 0 0 0 rg BT 153.42 665.10 Td (ginia�) Tj ET Q q 0 0 0 rg BT 176.19 665.10 Td (s ) Tj ET Q q 0 0 0 rg BT 183.77 665.10 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 210.23 665.10 Td (Ford ) Tj ET Q q 0 0 0 rg BT 232.82 665.10 Td (Shale ) Tj ET Q q 0 0 0 rg BT 258.73 665.10 Td (acreage ) Tj ET Q q 0 0 0 rg BT 292.94 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 311.08 665.10 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 348.84 665.10 Td (s ) Tj ET Q q 0 0 0 rg BT 356.43 665.10 Td (lower) Tj ET Q q 0 0 0 rg BT 379.00 665.10 Td (-declining ) Tj ET Q q 0 0 0 rg BT 423.23 665.10 Td (EOR ) Tj ET Q q 0 0 0 rg BT 446.93 665.10 Td (focused ) Tj ET Q q 0 0 0 rg BT 481.72 665.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 504.85 665.10 Td (base, ) Tj ET Q q 0 0 0 rg BT 528.82 665.10 Td (with ) Tj ET Q q 0 0 0 rg BT 550.29 665.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (opportunity ) Tj ET Q q 0 0 0 rg BT 99.34 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 110.29 653.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 135.68 653.10 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 173.45 653.10 Td (s ) Tj ET Q q 0 0 0 rg BT 180.51 653.10 Td (technical ) Tj ET Q q 0 0 0 rg BT 219.77 653.10 Td (EOR ) Tj ET Q q 0 0 0 rg BT 242.95 653.10 Td (knowledge ) Tj ET Q q 0 0 0 rg BT 290.00 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 307.61 653.10 Td (capabilities ) Tj ET Q q 0 0 0 rg BT 356.32 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 367.27 653.10 Td (enhance ) Tj ET Q q 0 0 0 rg BT 403.20 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 418.58 653.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 461.19 653.10 Td (development ) Tj ET Q q 0 0 0 rg BT 516.01 653.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 554.18 653.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 71.07 641.10 Td (V) Tj ET Q q 0 0 0 rg BT 77.70 641.10 Td (ir) Tj ET Q q 0 0 0 rg BT 83.62 641.10 Td (ginia�) Tj ET Q q 0 0 0 rg BT 106.40 641.10 Td (s ) Tj ET Q q 0 0 0 rg BT 111.98 641.10 Td (Eagle ) Tj ET Q q 0 0 0 rg BT 136.45 641.10 Td (Ford ) Tj ET Q q 0 0 0 rg BT 157.03 641.10 Td (acreage. ) Tj ET Q q 0 0 0 rg BT 191.75 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 193.08 641.10 Td (As ) Tj ET Q q 0 0 0 rg BT 205.89 641.10 Td (a ) Tj ET Q q 0 0 0 rg BT 212.02 641.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 253.15 641.10 Td (entity) Tj ET Q q 0 0 0 rg BT 275.27 641.10 Td (, ) Tj ET Q q 0 0 0 rg BT 279.47 641.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 316.16 641.10 Td (plans ) Tj ET Q q 0 0 0 rg BT 338.96 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 348.44 641.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 384.57 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 394.04 641.10 Td (spend ) Tj ET Q q 0 0 0 rg BT 419.07 641.10 Td (within ) Tj ET Q q 0 0 0 rg BT 446.32 641.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 465.79 641.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 485.82 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 501.95 641.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 531.41 641.10 Td (focused ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (on ) Tj ET Q q 0 0 0 rg BT 61.85 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.41 629.10 Td (same ) Tj ET Q q 0 0 0 rg BT 99.31 629.10 Td (core ) Tj ET Q q 0 0 0 rg BT 118.87 629.10 Td (objectives. ) Tj ET Q q 0 0 0 rg BT 164.26 629.10 Td ( ) Tj ET Q q 0 0 0 rg BT 166.60 629.10 Td (If ) Tj ET Q q 0 0 0 rg BT 175.61 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.18 629.10 Td (mer) Tj ET Q q 0 0 0 rg BT 205.54 629.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 220.66 629.10 Td (is ) Tj ET Q q 0 0 0 rg BT 229.68 629.10 Td (not ) Tj ET Q q 0 0 0 rg BT 244.81 629.10 Td (approved ) Tj ET Q q 0 0 0 rg BT 284.36 629.10 Td (by ) Tj ET Q q 0 0 0 rg BT 296.71 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 311.28 629.10 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 364.16 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 374.84 629.10 Td (both ) Tj ET Q q 0 0 0 rg BT 394.97 629.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 442.58 629.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 479.92 629.10 Td (will ) Tj ET Q q 0 0 0 rg BT 497.83 629.10 Td (execute ) Tj ET Q q 0 0 0 rg BT 530.71 629.10 Td (its ) Tj ET Q q 0 0 0 rg BT 542.50 629.10 Td (2019 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (plans ) Tj ET Q q 0 0 0 rg BT 73.11 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 85.61 617.10 Td (a ) Tj ET Q q 0 0 0 rg BT 92.55 617.10 Td (stand-alone ) Tj ET Q q 0 0 0 rg BT 141.14 617.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 163.64 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.58 617.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 210.84 617.10 Td (focused ) Tj ET Q q 0 0 0 rg BT 244.44 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 256.94 617.10 Td (these ) Tj ET Q q 0 0 0 rg BT 279.99 617.10 Td (same ) Tj ET Q q 0 0 0 rg BT 303.04 617.10 Td (key ) Tj ET Q q 0 0 0 rg BT 319.97 617.10 Td (objectives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 593.10 Td (During ) Tj ET Q q 0 0 0 rg BT 99.08 593.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 124.83 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.30 593.10 Td (Company�) Tj ET Q q 0 0 0 rg BT 181.97 593.10 Td (s ) Tj ET Q q 0 0 0 rg BT 189.11 593.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 227.34 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 245.03 593.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 282.18 593.10 Td (position ) Tj ET Q q 0 0 0 rg BT 317.66 593.10 Td (improved ) Tj ET Q q 0 0 0 rg BT 359.23 593.10 Td (through ) Tj ET Q q 0 0 0 rg BT 393.59 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.06 593.10 Td (extension ) Tj ET Q q 0 0 0 rg BT 450.64 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 468.33 593.10 Td (repayment ) Tj ET Q q 0 0 0 rg BT 513.78 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 525.37 593.10 Td (its ) Tj ET Q q 0 0 0 rg BT 538.07 593.10 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 81.77 581.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 102.94 581.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 127.43 581.10 Td (facility) Tj ET Q q 0 0 0 rg BT 155.10 581.10 Td (. ) Tj ET Q q 0 0 0 rg BT 159.33 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.06 581.10 Td (In ) Tj ET Q q 0 0 0 rg BT 170.74 581.10 Td (August ) Tj ET Q q 0 0 0 rg BT 201.36 581.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 225.59 581.10 Td (we ) Tj ET Q q 0 0 0 rg BT 238.98 581.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 265.71 581.10 Td ($450.0 ) Tj ET Q q 0 0 0 rg BT 294.94 581.10 Td (million ) Tj ET Q q 0 0 0 rg BT 325.56 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 335.62 581.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 357.35 581.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 385.19 581.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 419.13 581.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 446.69 581.10 Td (with ) Tj ET Q q 0 0 0 rg BT 466.20 581.10 Td (a ) Tj ET Q q 0 0 0 rg BT 472.36 581.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 502.98 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 513.04 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.99 581.10 Td (proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 82.38 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 93.04 569.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 114.82 569.10 Td (repay ) Tj ET Q q 0 0 0 rg BT 139.92 569.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 189.47 569.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 237.91 569.10 Td (on ) Tj ET Q q 0 0 0 rg BT 250.80 569.10 Td (our ) Tj ET Q q 0 0 0 rg BT 267.01 569.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 294.34 569.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 327.77 569.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 350.09 569.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 375.75 569.10 Td (facility) Tj ET Q q 0 0 0 rg BT 403.42 569.10 Td (. ) Tj ET Q q 0 0 0 rg BT 408.80 569.10 Td ( ) Tj ET Q q 0 0 0 rg BT 411.06 569.10 Td (As ) Tj ET Q q 0 0 0 rg BT 425.06 569.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 436.27 569.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 495.25 569.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.25 569.10 Td (, ) Tj ET Q q 0 0 0 rg BT 520.64 569.10 Td (we ) Tj ET Q q 0 0 0 rg BT 535.18 569.10 Td (had ) Tj ET Q q 0 0 0 rg BT 552.51 569.10 Td (no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 99.09 557.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 147.56 557.10 Td (on ) Tj ET Q q 0 0 0 rg BT 160.48 557.10 Td (our ) Tj ET Q q 0 0 0 rg BT 176.73 557.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 204.09 557.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 237.55 557.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 259.91 557.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 285.60 557.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 316.84 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 334.20 557.10 Td ($38.6 ) Tj ET Q q 0 0 0 rg BT 359.62 557.10 Td (million ) Tj ET Q q 0 0 0 rg BT 391.43 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.68 557.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 423.37 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 440.73 557.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 461.42 557.10 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 512.39 557.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 554.73 557.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td ($475.0 ) Tj ET Q q 0 0 0 rg BT 80.23 545.10 Td (million ) Tj ET Q q 0 0 0 rg BT 112.35 545.10 Td (of ) Tj ET Q q 0 0 0 rg BT 123.91 545.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 172.69 545.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 222.59 545.10 Td (as ) Tj ET Q q 0 0 0 rg BT 234.15 545.10 Td (of ) Tj ET Q q 0 0 0 rg BT 245.71 545.10 Td (December ) Tj ET Q q 0 0 0 rg BT 290.02 545.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 305.75 545.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 328.98 545.10 Td (with ) Tj ET Q q 0 0 0 rg BT 349.99 545.10 Td (nominal ) Tj ET Q q 0 0 0 rg BT 385.99 545.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 406.99 545.10 Td (at ) Tj ET Q q 0 0 0 rg BT 417.44 545.10 Td (that ) Tj ET Q q 0 0 0 rg BT 435.66 545.10 Td (date. ) Tj ET Q q 0 0 0 rg BT 458.05 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 460.57 545.10 Td (Also ) Tj ET Q q 0 0 0 rg BT 482.69 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 492.98 545.10 Td (August ) Tj ET Q q 0 0 0 rg BT 525.11 545.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 550.84 545.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 81.22 533.10 Td (into ) Tj ET Q q 0 0 0 rg BT 99.07 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.57 533.10 Td (Sixth ) Tj ET Q q 0 0 0 rg BT 136.48 533.10 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 188.21 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.28 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 213.90 533.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 240.63 533.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 273.46 533.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 295.19 533.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 320.25 533.10 Td (facility) Tj ET Q q 0 0 0 rg BT 347.92 533.10 Td (. ) Tj ET Q q 0 0 0 rg BT 352.71 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.50 533.10 Td (As ) Tj ET Q q 0 0 0 rg BT 367.90 533.10 Td (part ) Tj ET Q q 0 0 0 rg BT 385.74 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.36 533.10 Td (this ) Tj ET Q q 0 0 0 rg BT 413.10 533.10 Td (amendment, ) Tj ET Q q 0 0 0 rg BT 464.55 533.10 Td (we ) Tj ET Q q 0 0 0 rg BT 478.50 533.10 Td (streamlined ) Tj ET Q q 0 0 0 rg BT 527.44 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 543.07 533.10 Td (bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (group ) Tj ET Q q 0 0 0 rg BT 75.21 521.10 Td (from ) Tj ET Q q 0 0 0 rg BT 97.02 521.10 Td (24 ) Tj ET Q q 0 0 0 rg BT 109.40 521.10 Td (to ) Tj ET Q q 0 0 0 rg BT 119.56 521.10 Td (14 ) Tj ET Q q 0 0 0 rg BT 131.94 521.10 Td (banks ) Tj ET Q q 0 0 0 rg BT 157.64 521.10 Td (and ) Tj ET Q q 0 0 0 rg BT 174.46 521.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 208.48 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 224.19 521.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 268.23 521.10 Td (base ) Tj ET Q q 0 0 0 rg BT 288.38 521.10 Td (and ) Tj ET Q q 0 0 0 rg BT 305.19 521.10 Td (total ) Tj ET Q q 0 0 0 rg BT 325.34 521.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 382.16 521.10 Td (from ) Tj ET Q q 0 0 0 rg BT 403.98 521.10 Td ($1.05 ) Tj ET Q q 0 0 0 rg BT 428.86 521.10 Td (billion ) Tj ET Q q 0 0 0 rg BT 457.35 521.10 Td (to ) Tj ET Q q 0 0 0 rg BT 467.50 521.10 Td ($615 ) Tj ET Q q 0 0 0 rg BT 489.88 521.10 Td (million; ) Tj ET Q q 0 0 0 rg BT 523.93 521.10 Td (therefore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 59.81 509.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.12 509.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 128.18 509.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.18 509.10 Td (, ) Tj ET Q q 0 0 0 rg BT 152.66 509.10 Td (we ) Tj ET Q q 0 0 0 rg BT 166.30 509.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.72 509.10 Td ($553.0 ) Tj ET Q q 0 0 0 rg BT 212.20 509.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.09 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 243.07 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.38 509.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 297.01 509.10 Td (base ) Tj ET Q q 0 0 0 rg BT 316.76 509.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 363.73 509.10 Td (after ) Tj ET Q q 0 0 0 rg BT 384.02 509.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 439.87 509.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.18 509.10 Td ($62.0 ) Tj ET Q q 0 0 0 rg BT 474.66 509.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.55 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.53 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 515.84 509.10 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 76.43 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.26 497.10 Td (credit. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 473.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 95.10 473.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.13 473.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 121.39 473.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 133.42 473.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 158.24 473.10 Td (Cr) Tj ET Q q 0 0 0 rg BT 169.72 473.10 Td (edit ) Tj ET Q q 0 0 0 rg BT 187.86 473.10 Td (Facility) Tj ET Q q 0 0 0 rg BT 219.52 473.10 Td (. ) Tj ET Q q 0 0 0 rg BT 224.05 473.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.08 473.10 Td (In ) Tj ET Q q 0 0 0 rg BT 236.45 473.10 Td (December ) Tj ET Q q 0 0 0 rg BT 279.56 473.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 304.09 473.10 Td (we ) Tj ET Q q 0 0 0 rg BT 317.78 473.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 349.24 473.10 Td (into ) Tj ET Q q 0 0 0 rg BT 366.83 473.10 Td (an ) Tj ET Q q 0 0 0 rg BT 377.85 473.10 Td (Amended ) Tj ET Q q 0 0 0 rg BT 418.76 473.10 Td (and ) Tj ET Q q 0 0 0 rg BT 435.23 473.10 Td (Restated ) Tj ET Q q 0 0 0 rg BT 471.69 473.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 498.27 473.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 544.72 473.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (JPMor) Tj ET Q q 0 0 0 rg BT 75.99 461.10 Td (gan ) Tj ET Q q 0 0 0 rg BT 92.37 461.10 Td (Chase ) Tj ET Q q 0 0 0 rg BT 118.75 461.10 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 144.29 461.10 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 168.17 461.10 Td (as ) Tj ET Q q 0 0 0 rg BT 178.44 461.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 237.58 461.10 Td (agent, ) Tj ET Q q 0 0 0 rg BT 263.68 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 280.05 461.10 Td (other ) Tj ET Q q 0 0 0 rg BT 302.54 461.10 Td (lenders ) Tj ET Q q 0 0 0 rg BT 333.35 461.10 Td (party ) Tj ET Q q 0 0 0 rg BT 355.84 461.10 Td (thereto ) Tj ET Q q 0 0 0 rg BT 385.54 461.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 399.14 461.10 Td (amended, ) Tj ET Q q 0 0 0 rg BT 439.67 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 453.82 461.10 Td (�Bank ) Tj ET Q q 0 0 0 rg BT 481.31 461.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 507.81 461.10 Td (Agreement�\). ) Tj ET Q q 0 0 0 rg BT 565.00 461.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (In ) Tj ET Q q 0 0 0 rg BT 59.37 449.10 Td (August ) Tj ET Q q 0 0 0 rg BT 90.25 449.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 114.73 449.10 Td (we ) Tj ET Q q 0 0 0 rg BT 128.37 449.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 159.78 449.10 Td (into ) Tj ET Q q 0 0 0 rg BT 177.31 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 191.51 449.10 Td (Sixth ) Tj ET Q q 0 0 0 rg BT 214.17 449.10 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 265.59 449.10 Td (to ) Tj ET Q q 0 0 0 rg BT 275.35 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 289.55 449.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 312.64 449.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 339.18 449.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 385.58 449.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 403.11 449.10 Td (�Sixth ) Tj ET Q q 0 0 0 rg BT 430.21 449.10 Td (Amendment�\), ) Tj ET Q q 0 0 0 rg BT 491.89 449.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 528.31 449.10 Td (to ) Tj ET Q q 0 0 0 rg BT 538.07 449.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 437.10 Td (following ) Tj ET Q q 0 0 0 rg BT 105.60 437.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 140.31 437.10 Td (were ) Tj ET Q q 0 0 0 rg BT 162.24 437.10 Td (made ) Tj ET Q q 0 0 0 rg BT 186.39 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 196.67 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.39 437.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 235.00 437.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 261.94 437.10 Td (Agreement:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 413.10 Td (The ) Tj ET Q q 0 0 0 rg BT 86.08 413.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 123.00 413.10 Td (date ) Tj ET Q q 0 0 0 rg BT 142.69 413.10 Td (was ) Tj ET Q q 0 0 0 rg BT 161.28 413.10 Td (extended ) Tj ET Q q 0 0 0 rg BT 200.41 413.10 Td (from ) Tj ET Q q 0 0 0 rg BT 222.88 413.10 Td (December ) Tj ET Q q 0 0 0 rg BT 267.00 413.10 Td (9, ) Tj ET Q q 0 0 0 rg BT 277.54 413.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 300.58 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 311.39 413.10 Td (December ) Tj ET Q q 0 0 0 rg BT 355.51 413.10 Td (9, ) Tj ET Q q 0 0 0 rg BT 366.05 413.10 Td (2021, ) Tj ET Q q 0 0 0 rg BT 391.58 413.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 430.17 413.10 Td (that ) Tj ET Q q 0 0 0 rg BT 448.20 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.45 413.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 500.37 413.10 Td (date ) Tj ET Q q 0 0 0 rg BT 520.06 413.10 Td (may ) Tj ET Q q 0 0 0 rg BT 540.31 413.10 Td (occur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 401.10 Td (earlier ) Tj ET Q q 0 0 0 rg BT 96.26 401.10 Td (\(between ) Tj ET Q q 0 0 0 rg BT 136.14 401.10 Td (February ) Tj ET Q q 0 0 0 rg BT 175.47 401.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 198.70 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 215.66 401.10 Td (August ) Tj ET Q q 0 0 0 rg BT 247.78 401.10 Td (2021\) ) Tj ET Q q 0 0 0 rg BT 274.34 401.10 Td (if ) Tj ET Q q 0 0 0 rg BT 283.68 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.13 401.10 Td (9% ) Tj ET Q q 0 0 0 rg BT 315.69 401.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 345.03 401.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 380.47 401.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 413.14 401.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 434.70 401.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 461.26 401.10 Td (due ) Tj ET Q q 0 0 0 rg BT 478.93 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 489.94 401.10 Td (May ) Tj ET Q q 0 0 0 rg BT 511.50 401.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 534.73 401.10 Td (\(�2021 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 389.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 95.38 389.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 129.35 389.10 Td (Notes�\) ) Tj ET Q q 0 0 0 rg BT 162.22 389.10 Td (or ) Tj ET Q q 0 0 0 rg BT 172.32 389.10 Td (6) Tj ET Q /GS0 gs q 7.50 0 0 10.09 177.32 386.94 cm /I22 Do Q q 0 0 0 rg BT 184.82 389.10 Td (% ) Tj ET Q q 0 0 0 rg BT 194.92 389.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 222.80 389.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 277.89 389.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 302.99 389.10 Td (due ) Tj ET Q q 0 0 0 rg BT 319.20 389.10 Td (in ) Tj ET Q q 0 0 0 rg BT 328.35 389.10 Td (August ) Tj ET Q q 0 0 0 rg BT 359.02 389.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 380.78 389.10 Td (are ) Tj ET Q q 0 0 0 rg BT 394.76 389.10 Td (not ) Tj ET Q q 0 0 0 rg BT 409.31 389.10 Td (repaid ) Tj ET Q q 0 0 0 rg BT 436.06 389.10 Td (or ) Tj ET Q q 0 0 0 rg BT 446.16 389.10 Td (refinanced ) Tj ET Q q 0 0 0 rg BT 490.12 389.10 Td (by ) Tj ET Q q 0 0 0 rg BT 501.89 389.10 Td (their ) Tj ET Q q 0 0 0 rg BT 521.99 389.10 Td (respective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 377.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 103.88 377.10 Td (dates; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 365.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.60 365.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 129.81 365.10 Td (base ) Tj ET Q q 0 0 0 rg BT 150.13 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 167.13 365.10 Td (total ) Tj ET Q q 0 0 0 rg BT 187.45 365.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 244.44 365.10 Td (were ) Tj ET Q q 0 0 0 rg BT 266.42 365.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 300.62 365.10 Td (from ) Tj ET Q q 0 0 0 rg BT 322.61 365.10 Td ($1.05 ) Tj ET Q q 0 0 0 rg BT 347.67 365.10 Td (billion ) Tj ET Q q 0 0 0 rg BT 376.33 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 386.66 365.10 Td ($615 ) Tj ET Q q 0 0 0 rg BT 409.22 365.10 Td (million ) Tj ET Q q 0 0 0 rg BT 440.66 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 450.99 365.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 497.42 365.10 Td (with ) Tj ET Q q 0 0 0 rg BT 517.75 365.10 Td (a ) Tj ET Q q 0 0 0 rg BT 524.74 365.10 Td (reduction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 77.78 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.50 353.10 Td (number ) Tj ET Q q 0 0 0 rg BT 125.54 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.37 353.10 Td (lenders ) Tj ET Q q 0 0 0 rg BT 167.75 353.10 Td (party ) Tj ET Q q 0 0 0 rg BT 190.80 353.10 Td (to ) Tj ET Q q 0 0 0 rg BT 201.07 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 215.79 353.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 239.40 353.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 266.89 353.10 Td (Facility;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 341.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.59 341.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 118.13 341.10 Td (of ) Tj ET Q q 0 0 0 rg BT 129.01 341.10 Td (junior ) Tj ET Q q 0 0 0 rg BT 155.44 341.10 Td (lien ) Tj ET Q q 0 0 0 rg BT 172.99 341.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 192.75 341.10 Td (we ) Tj ET Q q 0 0 0 rg BT 206.96 341.10 Td (can ) Tj ET Q q 0 0 0 rg BT 223.38 341.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 246.47 341.10 Td (was ) Tj ET Q q 0 0 0 rg BT 264.57 341.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 304.87 341.10 Td (from ) Tj ET Q q 0 0 0 rg BT 326.86 341.10 Td ($1.2 ) Tj ET Q q 0 0 0 rg BT 346.90 341.10 Td (billion ) Tj ET Q q 0 0 0 rg BT 375.56 341.10 Td (to ) Tj ET Q q 0 0 0 rg BT 385.89 341.10 Td ($1.65 ) Tj ET Q q 0 0 0 rg BT 410.93 341.10 Td (billion ) Tj ET Q q 0 0 0 rg BT 439.59 341.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 488.80 341.10 Td (in ) Tj ET Q q 0 0 0 rg BT 499.13 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 513.89 341.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 555.30 341.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 329.10 Td (any ) Tj ET Q q 0 0 0 rg BT 84.44 329.10 Td (one ) Tj ET Q q 0 0 0 rg BT 101.38 329.10 Td (time; ) Tj ET Q q 0 0 0 rg BT 124.43 329.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 317.10 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 317.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.62 317.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 131.66 317.10 Td (T) Tj ET Q q 0 0 0 rg BT 137.07 317.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 154.51 317.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 176.40 317.10 Td (to ) Tj ET Q q 0 0 0 rg BT 186.62 317.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 241.84 317.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 288.17 317.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 325.59 317.10 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 378.57 317.10 Td (covenant ) Tj ET Q q 0 0 0 rg BT 417.11 317.10 Td (was ) Tj ET Q q 0 0 0 rg BT 435.11 317.10 Td (added ) Tj ET Q q 0 0 0 rg BT 461.43 317.10 Td (with ) Tj ET Q q 0 0 0 rg BT 481.65 317.10 Td (a ) Tj ET Q q 0 0 0 rg BT 488.54 317.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 509.31 317.10 Td (not ) Tj ET Q q 0 0 0 rg BT 524.54 317.10 Td (to ) Tj ET Q q 0 0 0 rg BT 534.76 317.10 Td (exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 305.10 Td (5.25 ) Tj ET Q q 0 0 0 rg BT 87.50 305.10 Td (to ) Tj ET Q q 0 0 0 rg BT 97.78 305.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 112.78 305.10 Td (through ) Tj ET Q q 0 0 0 rg BT 146.39 305.10 Td (December ) Tj ET Q q 0 0 0 rg BT 189.97 305.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 204.97 305.10 Td (2020, ) Tj ET Q q 0 0 0 rg BT 229.97 305.10 Td (and ) Tj ET Q q 0 0 0 rg BT 246.91 305.10 Td (4.50 ) Tj ET Q q 0 0 0 rg BT 266.91 305.10 Td (to ) Tj ET Q q 0 0 0 rg BT 277.19 305.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 292.19 305.10 Td (thereafter ) Tj ET Q q 0 0 0 rg BT 332.99 305.10 Td (through ) Tj ET Q q 0 0 0 rg BT 366.60 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.31 305.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 417.70 305.10 Td (date. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 281.10 Td (At ) Tj ET Q q 0 0 0 rg BT 79.75 281.10 Td (December ) Tj ET Q q 0 0 0 rg BT 123.07 281.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 137.82 281.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 162.56 281.10 Td (in ) Tj ET Q q 0 0 0 rg BT 172.59 281.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 207.61 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 217.63 281.10 Td (the ) Tj ET Q q 0 0 0 rg BT 232.09 281.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 286.95 281.10 Td (T) Tj ET Q q 0 0 0 rg BT 292.36 281.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 309.60 281.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 331.28 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 341.31 281.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 396.32 281.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 442.45 281.10 Td (covenant ) Tj ET Q q 0 0 0 rg BT 480.79 281.10 Td (added ) Tj ET Q q 0 0 0 rg BT 506.91 281.10 Td (with ) Tj ET Q q 0 0 0 rg BT 526.94 281.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.40 281.10 Td (Sixth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (Amendment, ) Tj ET Q q 0 0 0 rg BT 104.06 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.91 269.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 142.64 269.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 169.69 269.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 216.74 269.10 Td (contained ) Tj ET Q q 0 0 0 rg BT 258.24 269.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 288.07 269.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 325.68 269.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 378.83 269.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 421.44 269.10 Td (through ) Tj ET Q q 0 0 0 rg BT 455.18 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 470.03 269.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 506.54 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 517.50 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.34 269.10 Td (facility) Tj ET Q q 0 0 0 rg BT 560.01 269.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (including ) Tj ET Q q 0 0 0 rg BT 89.77 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 104.49 257.10 Td (following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 233.10 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.62 233.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 129.62 233.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 156.51 233.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 189.50 233.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 209.17 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 219.40 233.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 272.40 233.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 318.74 233.10 Td (covenant, ) Tj ET Q q 0 0 0 rg BT 359.78 233.10 Td (with ) Tj ET Q q 0 0 0 rg BT 380.01 233.10 Td (such ) Tj ET Q q 0 0 0 rg BT 400.80 233.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 421.58 233.10 Td (not ) Tj ET Q q 0 0 0 rg BT 436.81 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.04 233.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 477.25 233.10 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 492.20 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 502.43 233.10 Td (1.0. ) Tj ET Q q 0 0 0 rg BT 519.89 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 522.34 233.10 Td (Currently) Tj ET Q q 0 0 0 rg BT 560.02 233.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 221.10 Td (only ) Tj ET Q q 0 0 0 rg BT 87.78 221.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 107.50 221.10 Td (under ) Tj ET Q q 0 0 0 rg BT 132.76 221.10 Td (our ) Tj ET Q q 0 0 0 rg BT 148.59 221.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 172.20 221.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 199.15 221.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 246.07 221.10 Td (is ) Tj ET Q q 0 0 0 rg BT 255.24 221.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 301.05 221.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 354.10 221.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 381.04 221.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 414.07 221.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 433.79 221.10 Td (for ) Tj ET Q q 0 0 0 rg BT 447.95 221.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 486.00 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 496.83 221.10 Td (this ) Tj ET Q q 0 0 0 rg BT 513.78 221.10 Td (ratio;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 209.10 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 209.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.67 209.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 118.06 209.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 158.88 209.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 179.71 209.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.54 209.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 243.58 209.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 289.96 209.10 Td (to ) Tj ET Q q 0 0 0 rg BT 300.24 209.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 353.28 209.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 385.21 209.10 Td (char) Tj ET Q q 0 0 0 rg BT 402.24 209.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 418.07 209.10 Td (of ) Tj ET Q q 0 0 0 rg BT 428.90 209.10 Td (1.25 ) Tj ET Q q 0 0 0 rg BT 448.90 209.10 Td (to ) Tj ET Q q 0 0 0 rg BT 459.18 209.10 Td (1.0; ) Tj ET Q q 0 0 0 rg BT 476.96 209.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 197.10 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 197.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.67 197.10 Td (requirement ) Tj ET Q q 0 0 0 rg BT 127.48 197.10 Td (to ) Tj ET Q q 0 0 0 rg BT 137.76 197.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 175.25 197.10 Td (a ) Tj ET Q q 0 0 0 rg BT 182.19 197.10 Td (current ) Tj ET Q q 0 0 0 rg BT 213.00 197.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 233.83 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 244.66 197.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 259.66 197.10 Td (to ) Tj ET Q q 0 0 0 rg BT 269.94 197.10 Td (1.0.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 173.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 95.52 173.10 Td (these ) Tj ET Q q 0 0 0 rg BT 119.10 173.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 157.12 173.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 210.67 173.10 Td (covenant ) Tj ET Q q 0 0 0 rg BT 249.80 173.10 Td (calculations, ) Tj ET Q q 0 0 0 rg BT 303.09 173.10 Td (as ) Tj ET Q q 0 0 0 rg BT 314.46 173.10 Td (of ) Tj ET Q q 0 0 0 rg BT 325.82 173.10 Td (December ) Tj ET Q q 0 0 0 rg BT 369.94 173.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 385.47 173.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 411.01 173.10 Td (our ) Tj ET Q q 0 0 0 rg BT 427.37 173.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 448.73 173.10 Td (of ) Tj ET Q q 0 0 0 rg BT 460.09 173.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 513.67 173.10 Td (total ) Tj ET Q q 0 0 0 rg BT 534.48 173.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 554.73 173.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 103.07 161.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 149.99 161.10 Td (was ) Tj ET Q q 0 0 0 rg BT 168.57 161.10 Td (4.24 ) Tj ET Q q 0 0 0 rg BT 189.10 161.10 Td (to ) Tj ET Q q 0 0 0 rg BT 199.91 161.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 215.44 161.10 Td (\(based ) Tj ET Q q 0 0 0 rg BT 244.57 161.10 Td (on ) Tj ET Q q 0 0 0 rg BT 257.60 161.10 Td (a ) Tj ET Q q 0 0 0 rg BT 265.07 161.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 308.66 161.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 350.01 161.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 371.36 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 382.72 161.10 Td (5.25 ) Tj ET Q q 0 0 0 rg BT 403.26 161.10 Td (to ) Tj ET Q q 0 0 0 rg BT 414.07 161.10 Td (1.0\), ) Tj ET Q q 0 0 0 rg BT 435.43 161.10 Td (our ) Tj ET Q q 0 0 0 rg BT 451.79 161.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 473.14 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 484.51 161.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 538.08 161.10 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 83.61 149.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 104.40 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 115.75 149.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 169.87 149.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 217.33 149.10 Td (was ) Tj ET Q q 0 0 0 rg BT 236.45 149.10 Td (0.00 ) Tj ET Q q 0 0 0 rg BT 257.53 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 268.88 149.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 284.95 149.10 Td (\(based ) Tj ET Q q 0 0 0 rg BT 314.63 149.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 338.20 149.10 Td (a ) Tj ET Q q 0 0 0 rg BT 346.21 149.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 390.34 149.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 432.23 149.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 454.13 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.04 149.10 Td (2.5 ) Tj ET Q q 0 0 0 rg BT 482.11 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 493.46 149.10 Td (1.0\), ) Tj ET Q q 0 0 0 rg BT 515.37 149.10 Td (our ) Tj ET Q q 0 0 0 rg BT 532.27 149.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 554.17 149.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 102.33 137.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 148.50 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.56 137.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 211.39 137.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 243.12 137.10 Td (char) Tj ET Q q 0 0 0 rg BT 260.14 137.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 275.76 137.10 Td (was ) Tj ET Q q 0 0 0 rg BT 293.60 137.10 Td (3.13 ) Tj ET Q q 0 0 0 rg BT 313.39 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.45 137.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 338.24 137.10 Td (\(based ) Tj ET Q q 0 0 0 rg BT 366.63 137.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 388.91 137.10 Td (a ) Tj ET Q q 0 0 0 rg BT 395.64 137.10 Td (required ) Tj ET Q q 0 0 0 rg BT 431.24 137.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 451.86 137.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.47 137.10 Td (not ) Tj ET Q q 0 0 0 rg BT 477.54 137.10 Td (less ) Tj ET Q q 0 0 0 rg BT 494.83 137.10 Td (than ) Tj ET Q q 0 0 0 rg BT 514.33 137.10 Td (1.25 ) Tj ET Q q 0 0 0 rg BT 534.12 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 544.19 137.10 Td (1.0\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.19 125.10 Td (our ) Tj ET Q q 0 0 0 rg BT 81.77 125.10 Td (current ) Tj ET Q q 0 0 0 rg BT 112.33 125.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 132.90 125.10 Td (was ) Tj ET Q q 0 0 0 rg BT 150.70 125.10 Td (2.91 ) Tj ET Q q 0 0 0 rg BT 170.45 125.10 Td (to ) Tj ET Q q 0 0 0 rg BT 180.48 125.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 195.23 125.10 Td (\(based ) Tj ET Q q 0 0 0 rg BT 223.57 125.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 245.82 125.10 Td (a ) Tj ET Q q 0 0 0 rg BT 252.51 125.10 Td (required ) Tj ET Q q 0 0 0 rg BT 288.07 125.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 308.65 125.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.23 125.10 Td (not ) Tj ET Q q 0 0 0 rg BT 334.25 125.10 Td (less ) Tj ET Q q 0 0 0 rg BT 351.50 125.10 Td (than ) Tj ET Q q 0 0 0 rg BT 370.97 125.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 385.72 125.10 Td (to ) Tj ET Q q 0 0 0 rg BT 395.74 125.10 Td (1.0\). ) Tj ET Q q 0 0 0 rg BT 416.32 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 418.57 125.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 445.26 125.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 467.51 125.10 Td (our ) Tj ET Q q 0 0 0 rg BT 483.08 125.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 521.43 125.10 Td (forecasted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 75.62 113.10 Td (of ) Tj ET Q q 0 0 0 rg BT 86.75 113.10 Td (production ) Tj ET Q q 0 0 0 rg BT 132.87 113.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.11 113.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 175.40 113.10 Td (hedges ) Tj ET Q q 0 0 0 rg BT 205.97 113.10 Td (in ) Tj ET Q q 0 0 0 rg BT 216.54 113.10 Td (place ) Tj ET Q q 0 0 0 rg BT 240.43 113.10 Td (as ) Tj ET Q q 0 0 0 rg BT 251.56 113.10 Td (of ) Tj ET Q q 0 0 0 rg BT 262.69 113.10 Td (February ) Tj ET Q q 0 0 0 rg BT 301.58 113.10 Td (26, ) Tj ET Q q 0 0 0 rg BT 316.88 113.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 342.18 113.10 Td (and ) Tj ET Q q 0 0 0 rg BT 359.41 113.10 Td (current ) Tj ET Q q 0 0 0 rg BT 390.53 113.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 403.88 113.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 452.23 113.10 Td (futures ) Tj ET Q q 0 0 0 rg BT 482.79 113.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 511.97 113.10 Td (we ) Tj ET Q q 0 0 0 rg BT 526.42 113.10 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 90.87 101.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 136.14 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.42 101.10 Td (be ) Tj ET Q q 0 0 0 rg BT 158.36 101.10 Td (in ) Tj ET Q q 0 0 0 rg BT 168.64 101.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 217.22 101.10 Td (with ) Tj ET Q q 0 0 0 rg BT 237.50 101.10 Td (our ) Tj ET Q q 0 0 0 rg BT 253.33 101.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 290.81 101.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 343.84 101.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 386.32 101.10 Td (during ) Tj ET Q q 0 0 0 rg BT 414.93 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.65 101.10 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 477.67 101.10 Td (future.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 77.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.33 77.10 Td (above ) Tj ET Q q 0 0 0 rg BT 111.50 77.10 Td (description ) Tj ET Q q 0 0 0 rg BT 158.22 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.83 77.10 Td (our ) Tj ET Q q 0 0 0 rg BT 184.45 77.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 207.85 77.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 234.62 77.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 281.33 77.10 Td (is ) Tj ET Q q 0 0 0 rg BT 290.29 77.10 Td (qualified ) Tj ET Q q 0 0 0 rg BT 328.12 77.10 Td (by ) Tj ET Q q 0 0 0 rg BT 340.40 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.91 77.10 Td (express ) Tj ET Q q 0 0 0 rg BT 387.19 77.10 Td (language ) Tj ET Q q 0 0 0 rg BT 425.57 77.10 Td (and ) Tj ET Q q 0 0 0 rg BT 442.29 77.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 474.56 77.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 499.07 77.10 Td (contained ) Tj ET Q q 0 0 0 rg BT 540.22 77.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 77.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 72.66 65.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 99.25 65.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 145.73 65.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.22 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.48 65.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 229.08 65.10 Td (thereto, ) Tj ET Q q 0 0 0 rg BT 261.39 65.10 Td (each ) Tj ET Q q 0 0 0 rg BT 281.76 65.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.14 65.10 Td (which ) Tj ET Q q 0 0 0 rg BT 318.63 65.10 Td (are ) Tj ET Q q 0 0 0 rg BT 332.89 65.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 353.26 65.10 Td (as ) Tj ET Q q 0 0 0 rg BT 363.64 65.10 Td (exhibits ) Tj ET Q q 0 0 0 rg BT 397.36 65.10 Td (to ) Tj ET Q q 0 0 0 rg BT 407.19 65.10 Td (our ) Tj ET Q q 0 0 0 rg BT 422.57 65.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 457.38 65.10 Td (reports ) Tj ET Q q 0 0 0 rg BT 487.20 65.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 507.58 65.10 Td (with ) Tj ET Q q 0 0 0 rg BT 527.41 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.67 65.10 Td (SEC.) Tj ET Q endstream endobj 87 0 obj <> endobj 88 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 701.10 Td (As ) Tj ET Q q 0 0 0 rg BT 80.75 701.10 Td (an ) Tj ET Q q 0 0 0 rg BT 92.33 701.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 134.46 701.10 Td (source ) Tj ET Q q 0 0 0 rg BT 162.70 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 173.17 701.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 210.30 701.10 Td (liquidity) Tj ET Q q 0 0 0 rg BT 243.54 701.10 Td (, ) Tj ET Q q 0 0 0 rg BT 248.18 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.54 701.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 303.57 701.10 Td (has ) Tj ET Q q 0 0 0 rg BT 319.04 701.10 Td (been ) Tj ET Q q 0 0 0 rg BT 340.06 701.10 Td (engaged ) Tj ET Q q 0 0 0 rg BT 375.51 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 385.43 701.10 Td (two ) Tj ET Q q 0 0 0 rg BT 402.57 701.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 424.15 701.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 441.83 701.10 Td (processes. ) Tj ET Q q 0 0 0 rg BT 484.80 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 486.94 701.10 Td (In ) Tj ET Q q 0 0 0 rg BT 497.41 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 511.76 701.10 Td (first ) Tj ET Q q 0 0 0 rg BT 530.01 701.10 Td (process, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (we ) Tj ET Q q 0 0 0 rg BT 63.17 689.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 99.62 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 109.41 689.10 Td (market ) Tj ET Q q 0 0 0 rg BT 139.19 689.10 Td (for ) Tj ET Q q 0 0 0 rg BT 152.86 689.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 170.42 689.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 230.19 689.10 Td (4,000 ) Tj ET Q q 0 0 0 rg BT 254.71 689.10 Td (acres ) Tj ET Q q 0 0 0 rg BT 277.26 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 287.60 689.10 Td (surface ) Tj ET Q q 0 0 0 rg BT 318.48 689.10 Td (land ) Tj ET Q q 0 0 0 rg BT 337.71 689.10 Td (with ) Tj ET Q q 0 0 0 rg BT 357.50 689.10 Td (no ) Tj ET Q q 0 0 0 rg BT 369.52 689.10 Td (active ) Tj ET Q q 0 0 0 rg BT 395.40 689.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 407.97 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 424.42 689.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 439.77 689.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 483.43 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 493.23 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.46 689.10 Td (Houston ) Tj ET Q q 0 0 0 rg BT 543.36 689.10 Td (area. ) Tj ET Q q 0 0 0 rg BT 565.01 689.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 677.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.27 677.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 95.73 677.10 Td (focused ) Tj ET Q q 0 0 0 rg BT 129.53 677.10 Td (on ) Tj ET Q q 0 0 0 rg BT 142.23 677.10 Td (a ) Tj ET Q q 0 0 0 rg BT 149.36 677.10 Td (strategy ) Tj ET Q q 0 0 0 rg BT 183.71 677.10 Td (that ) Tj ET Q q 0 0 0 rg BT 201.40 677.10 Td (we ) Tj ET Q q 0 0 0 rg BT 215.76 677.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 247.33 677.10 Td (will ) Tj ET Q q 0 0 0 rg BT 265.58 677.10 Td (ultimately ) Tj ET Q q 0 0 0 rg BT 308.83 677.10 Td (yield ) Tj ET Q q 0 0 0 rg BT 331.52 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 346.43 677.10 Td (highest ) Tj ET Q q 0 0 0 rg BT 378.02 677.10 Td (value ) Tj ET Q q 0 0 0 rg BT 402.37 677.10 Td (for ) Tj ET Q q 0 0 0 rg BT 416.73 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 431.64 677.10 Td (land, ) Tj ET Q q 0 0 0 rg BT 454.05 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 471.19 677.10 Td (we ) Tj ET Q q 0 0 0 rg BT 485.54 677.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 514.34 677.10 Td (most ) Tj ET Q q 0 0 0 rg BT 536.48 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 547.51 677.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (value ) Tj ET Q q 0 0 0 rg BT 74.14 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 84.90 665.10 Td (be ) Tj ET Q q 0 0 0 rg BT 97.31 665.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 131.94 665.10 Td (over ) Tj ET Q q 0 0 0 rg BT 152.69 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 167.88 665.10 Td (next ) Tj ET Q q 0 0 0 rg BT 188.08 665.10 Td (couple ) Tj ET Q q 0 0 0 rg BT 217.72 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 229.03 665.10 Td (years. ) Tj ET Q q 0 0 0 rg BT 255.61 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 258.59 665.10 Td (During ) Tj ET Q q 0 0 0 rg BT 289.90 665.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 315.38 665.10 Td (we ) Tj ET Q q 0 0 0 rg BT 330.02 665.10 Td (consummated ) Tj ET Q q 0 0 0 rg BT 388.55 665.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 449.29 665.10 Td ($5 ) Tj ET Q q 0 0 0 rg BT 462.27 665.10 Td (million ) Tj ET Q q 0 0 0 rg BT 494.14 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 505.45 665.10 Td (land ) Tj ET Q q 0 0 0 rg BT 525.65 665.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 548.07 665.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 87.95 653.10 Td (have ) Tj ET Q q 0 0 0 rg BT 109.19 653.10 Td (signed ) Tj ET Q q 0 0 0 rg BT 137.66 653.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 185.55 653.10 Td (for ) Tj ET Q q 0 0 0 rg BT 199.57 653.10 Td (another ) Tj ET Q q 0 0 0 rg BT 231.92 653.10 Td ($9 ) Tj ET Q q 0 0 0 rg BT 244.28 653.10 Td (million ) Tj ET Q q 0 0 0 rg BT 275.53 653.10 Td (that ) Tj ET Q q 0 0 0 rg BT 292.88 653.10 Td (we ) Tj ET Q q 0 0 0 rg BT 306.90 653.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 335.36 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 345.49 653.10 Td (close ) Tj ET Q q 0 0 0 rg BT 368.40 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.54 653.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 403.40 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 405.76 653.10 Td (In ) Tj ET Q q 0 0 0 rg BT 416.45 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 431.03 653.10 Td (second ) Tj ET Q q 0 0 0 rg BT 461.15 653.10 Td (process, ) Tj ET Q q 0 0 0 rg BT 496.00 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 506.14 653.10 Td (early ) Tj ET Q q 0 0 0 rg BT 528.49 653.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 550.85 653.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (began ) Tj ET Q q 0 0 0 rg BT 75.88 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 90.60 641.10 Td (process ) Tj ET Q q 0 0 0 rg BT 123.10 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 133.93 641.10 Td (portfolio ) Tj ET Q q 0 0 0 rg BT 171.43 641.10 Td (optimization ) Tj ET Q q 0 0 0 rg BT 224.48 641.10 Td (through ) Tj ET Q q 0 0 0 rg BT 258.09 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.81 641.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 315.86 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.69 641.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 356.96 641.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 399.45 641.10 Td (located ) Tj ET Q q 0 0 0 rg BT 430.83 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 441.11 641.10 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 489.18 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 506.13 641.10 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 548.06 641.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (Citronelle ) Tj ET Q q 0 0 0 rg BT 92.04 629.10 Td (Field ) Tj ET Q q 0 0 0 rg BT 115.14 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 124.90 629.10 Td (Alabama, ) Tj ET Q q 0 0 0 rg BT 166.04 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 183.02 629.10 Td (completed ) Tj ET Q q 0 0 0 rg BT 227.22 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.98 629.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 260.07 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 270.95 629.10 Td (Lockhart ) Tj ET Q q 0 0 0 rg BT 309.59 629.10 Td (Crossing ) Tj ET Q q 0 0 0 rg BT 347.69 629.10 Td (Field ) Tj ET Q q 0 0 0 rg BT 370.80 629.10 Td (for ) Tj ET Q q 0 0 0 rg BT 385.00 629.10 Td (net ) Tj ET Q q 0 0 0 rg BT 399.76 629.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 437.85 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 448.72 629.10 Td ($4.1 ) Tj ET Q q 0 0 0 rg BT 468.77 629.10 Td (million ) Tj ET Q q 0 0 0 rg BT 500.20 629.10 Td (during ) Tj ET Q q 0 0 0 rg BT 528.86 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 543.62 629.10 Td (third ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 80.31 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.13 617.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 116.13 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 118.44 617.10 Td (The ) Tj ET Q q 0 0 0 rg BT 136.48 617.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 167.85 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 178.12 617.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 191.17 617.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 217.54 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 234.48 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 250.30 617.10 Td (focus ) Tj ET Q q 0 0 0 rg BT 274.45 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 286.95 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 301.66 617.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 323.97 617.10 Td (V) Tj ET Q q 0 0 0 rg BT 330.59 617.10 Td (ir) Tj ET Q q 0 0 0 rg BT 336.52 617.10 Td (ginia ) Tj ET Q q 0 0 0 rg BT 359.01 617.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 405.38 617.10 Td (stalled ) Tj ET Q q 0 0 0 rg BT 433.97 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 449.80 617.10 Td (process ) Tj ET Q q 0 0 0 rg BT 482.28 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 492.56 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.27 617.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 534.20 617.10 Td (quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.91 605.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 84.49 605.10 Td (but ) Tj ET Q q 0 0 0 rg BT 99.35 605.10 Td (we ) Tj ET Q q 0 0 0 rg BT 113.09 605.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 132.39 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.25 605.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 178.77 605.10 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 222.50 605.10 Td (our ) Tj ET Q q 0 0 0 rg BT 237.91 605.10 Td (options ) Tj ET Q q 0 0 0 rg BT 269.44 605.10 Td (with ) Tj ET Q q 0 0 0 rg BT 289.30 605.10 Td (these ) Tj ET Q q 0 0 0 rg BT 311.93 605.10 Td (fields ) Tj ET Q q 0 0 0 rg BT 336.23 605.10 Td (as ) Tj ET Q q 0 0 0 rg BT 346.64 605.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 359.28 605.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 385.24 605.10 Td (improve. ) Tj ET Q q 0 0 0 rg BT 423.14 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 425.07 605.10 Td (The ) Tj ET Q q 0 0 0 rg BT 442.70 605.10 Td (pace ) Tj ET Q q 0 0 0 rg BT 463.10 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.62 605.10 Td (outcome ) Tj ET Q q 0 0 0 rg BT 516.13 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 526.55 605.10 Td (any ) Tj ET Q q 0 0 0 rg BT 543.07 605.10 Td (sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.04 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.48 593.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 120.23 593.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 146.78 593.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 176.65 593.10 Td (be ) Tj ET Q q 0 0 0 rg BT 189.30 593.10 Td (predicted ) Tj ET Q q 0 0 0 rg BT 229.72 593.10 Td (at ) Tj ET Q q 0 0 0 rg BT 240.15 593.10 Td (this ) Tj ET Q q 0 0 0 rg BT 257.81 593.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 281.30 593.10 Td (but ) Tj ET Q q 0 0 0 rg BT 297.29 593.10 Td (their ) Tj ET Q q 0 0 0 rg BT 318.83 593.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 363.14 593.10 Td (completion ) Tj ET Q q 0 0 0 rg BT 411.35 593.10 Td (could ) Tj ET Q q 0 0 0 rg BT 436.78 593.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 470.54 593.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 513.74 593.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 550.85 593.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.98 581.10 Td (or ) Tj ET Q q 0 0 0 rg BT 97.81 581.10 Td (operational ) Tj ET Q q 0 0 0 rg BT 145.29 581.10 Td (uses. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 557.10 Td (2019) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 87.50 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 90.44 557.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 125.05 557.10 Td (Spending. ) Tj ET Q q 0 0 0 rg BT 170.52 557.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.46 557.10 Td (W) Tj ET Q q 0 0 0 rg BT 182.10 557.10 Td (e ) Tj ET Q q 0 0 0 rg BT 189.48 557.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 228.51 557.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 270.32 557.10 Td (that ) Tj ET Q q 0 0 0 rg BT 288.25 557.10 Td (our ) Tj ET Q q 0 0 0 rg BT 304.52 557.10 Td (full-year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.89 557.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.89 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.83 557.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 394.42 557.10 Td (budget, ) Tj ET Q q 0 0 0 rg BT 427.08 557.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 469.45 557.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 515.70 557.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 548.08 557.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (acquisitions, ) Tj ET Q q 0 0 0 rg BT 102.54 545.10 Td (will ) Tj ET Q q 0 0 0 rg BT 120.86 545.10 Td (be ) Tj ET Q q 0 0 0 rg BT 133.06 545.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 193.59 545.10 Td ($240 ) Tj ET Q q 0 0 0 rg BT 216.35 545.10 Td (million ) Tj ET Q q 0 0 0 rg BT 248.01 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.55 545.10 Td ($260 ) Tj ET Q q 0 0 0 rg BT 281.32 545.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 315.48 545.10 Td (roughly ) Tj ET Q q 0 0 0 rg BT 349.35 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 356.55 545.10 Td (23% ) Tj ET Q q 0 0 0 rg BT 377.65 545.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 414.83 545.10 Td (from ) Tj ET Q q 0 0 0 rg BT 437.03 545.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 459.80 545.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 489.21 545.10 Td (spending ) Tj ET Q q 0 0 0 rg BT 528.08 545.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 554.17 545.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td ($322.7 ) Tj ET Q q 0 0 0 rg BT 79.63 533.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.52 533.10 Td (. ) Tj ET Q q 0 0 0 rg BT 113.66 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 116.10 533.10 Td (W) Tj ET Q q 0 0 0 rg BT 124.73 533.10 Td (e ) Tj ET Q q 0 0 0 rg BT 131.80 533.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 173.30 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 189.27 533.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 211.90 533.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 241.18 533.10 Td (budget ) Tj ET Q q 0 0 0 rg BT 271.03 533.10 Td (could ) Tj ET Q q 0 0 0 rg BT 295.88 533.10 Td (be ) Tj ET Q q 0 0 0 rg BT 307.95 533.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 348.33 533.10 Td (or ) Tj ET Q q 0 0 0 rg BT 359.29 533.10 Td (decreased ) Tj ET Q q 0 0 0 rg BT 401.34 533.10 Td (if ) Tj ET Q q 0 0 0 rg BT 410.08 533.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 423.27 533.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 449.78 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 466.85 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 482.81 533.10 Td (resultant ) Tj ET Q q 0 0 0 rg BT 519.88 533.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 540.28 533.10 Td (flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (were ) Tj ET Q q 0 0 0 rg BT 71.60 521.10 Td (to ) Tj ET Q q 0 0 0 rg BT 82.04 521.10 Td (meaningfully ) Tj ET Q q 0 0 0 rg BT 138.03 521.10 Td (change. ) Tj ET Q q 0 0 0 rg BT 171.51 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 174.18 521.10 Td (Capitalized ) Tj ET Q q 0 0 0 rg BT 222.38 521.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 254.49 521.10 Td (is ) Tj ET Q q 0 0 0 rg BT 263.82 521.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 302.58 521.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 343.57 521.10 Td (at ) Tj ET Q q 0 0 0 rg BT 353.46 521.10 Td (between ) Tj ET Q q 0 0 0 rg BT 389.44 521.10 Td ($30 ) Tj ET Q q 0 0 0 rg BT 407.11 521.10 Td (million ) Tj ET Q q 0 0 0 rg BT 438.67 521.10 Td (and ) Tj ET Q q 0 0 0 rg BT 455.77 521.10 Td ($40 ) Tj ET Q q 0 0 0 rg BT 473.44 521.10 Td (million ) Tj ET Q q 0 0 0 rg BT 505.00 521.10 Td (for ) Tj ET Q q 0 0 0 rg BT 519.33 521.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 544.49 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.97 521.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 72.00 509.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 101.15 509.10 Td (budget, ) Tj ET Q q 0 0 0 rg BT 133.37 509.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 175.30 509.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 221.11 509.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 253.04 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 269.98 509.10 Td (acquisitions, ) Tj ET Q q 0 0 0 rg BT 322.75 509.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 359.69 509.10 Td (for ) Tj ET Q q 0 0 0 rg BT 373.85 509.10 Td (approximate ) Tj ET Q q 0 0 0 rg BT 426.33 509.10 Td (spending ) Tj ET Q q 0 0 0 rg BT 464.94 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 475.77 509.10 Td (follows:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 485.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 485.10 Td ($100 ) Tj ET Q q 0 0 0 rg BT 108.00 485.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.89 485.10 Td ( ) Tj ET Q q 0 0 0 rg BT 139.39 485.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 177.98 485.10 Td (for ) Tj ET Q q 0 0 0 rg BT 192.14 485.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 223.51 485.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 236.57 485.10 Td (field ) Tj ET Q q 0 0 0 rg BT 257.39 485.10 Td (expenditures;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 473.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 473.10 Td ($70 ) Tj ET Q q 0 0 0 rg BT 103.00 473.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.89 473.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.39 473.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 172.98 473.10 Td (for ) Tj ET Q q 0 0 0 rg BT 187.14 473.10 Td (other ) Tj ET Q q 0 0 0 rg BT 210.19 473.10 Td (areas, ) Tj ET Q q 0 0 0 rg BT 235.72 473.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 275.44 473.10 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 325.14 473.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 338.20 473.10 Td (field ) Tj ET Q q 0 0 0 rg BT 359.02 473.10 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 412.61 473.10 Td (including ) Tj ET Q q 0 0 0 rg BT 452.89 473.10 Td (exploitation;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 461.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 461.10 Td ($30 ) Tj ET Q q 0 0 0 rg BT 103.00 461.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.89 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.39 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 144.67 461.10 Td (be ) Tj ET Q q 0 0 0 rg BT 156.61 461.10 Td (spent ) Tj ET Q q 0 0 0 rg BT 180.22 461.10 Td (on ) Tj ET Q q 0 0 0 rg BT 192.72 461.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 206.61 459.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.86 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 212.36 461.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 244.85 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 261.79 461.10 Td (pipelines; ) Tj ET Q q 0 0 0 rg BT 303.17 461.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 449.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 449.10 Td ($50 ) Tj ET Q q 0 0 0 rg BT 103.22 449.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.11 449.10 Td ( ) Tj ET Q q 0 0 0 rg BT 134.83 449.10 Td (for ) Tj ET Q q 0 0 0 rg BT 149.22 449.10 Td (other ) Tj ET Q q 0 0 0 rg BT 172.48 449.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 201.85 449.10 Td (items ) Tj ET Q q 0 0 0 rg BT 226.24 449.10 Td (such ) Tj ET Q q 0 0 0 rg BT 247.29 449.10 Td (as ) Tj ET Q q 0 0 0 rg BT 258.34 449.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 304.37 449.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 337.63 449.10 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 386.74 449.10 Td (exploration ) Tj ET Q q 0 0 0 rg BT 435.00 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 452.16 449.10 Td (development ) Tj ET Q q 0 0 0 rg BT 506.53 449.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 529.25 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 546.41 449.10 Td (pre-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 437.10 Td (production ) Tj ET Q q 0 0 0 rg BT 131.33 437.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 162.70 437.10 Td (startup ) Tj ET Q q 0 0 0 rg BT 192.41 437.10 Td (costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 413.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 94.56 413.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 117.18 413.10 Td (our ) Tj ET Q q 0 0 0 rg BT 133.13 413.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 171.85 413.10 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 215.56 413.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 241.50 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 252.46 413.10 Td (production ) Tj ET Q q 0 0 0 rg BT 298.40 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 315.46 413.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 340.59 413.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 388.76 413.10 Td (hedges ) Tj ET Q q 0 0 0 rg BT 419.15 413.10 Td (in ) Tj ET Q q 0 0 0 rg BT 429.55 413.10 Td (place, ) Tj ET Q q 0 0 0 rg BT 455.77 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 472.83 413.10 Td (current ) Tj ET Q q 0 0 0 rg BT 503.76 413.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 516.94 413.10 Td (commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (futures ) Tj ET Q q 0 0 0 rg BT 79.36 401.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 107.83 401.10 Td (we ) Tj ET Q q 0 0 0 rg BT 121.59 401.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 148.68 401.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.55 401.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 178.98 401.10 Td (our ) Tj ET Q q 0 0 0 rg BT 194.40 401.10 Td (development ) Tj ET Q q 0 0 0 rg BT 248.15 401.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 276.89 401.10 Td (spending ) Tj ET Q q 0 0 0 rg BT 315.10 401.10 Td (with ) Tj ET Q q 0 0 0 rg BT 334.97 401.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 354.83 401.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 375.26 401.10 Td (from ) Tj ET Q q 0 0 0 rg BT 396.79 401.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 443.04 401.10 Td (with ) Tj ET Q q 0 0 0 rg BT 462.91 401.10 Td (any ) Tj ET Q q 0 0 0 rg BT 479.45 401.10 Td (shortfall ) Tj ET Q q 0 0 0 rg BT 514.87 401.10 Td (funded ) Tj ET Q q 0 0 0 rg BT 544.73 401.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 100.63 389.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 150.11 389.10 Td (under ) Tj ET Q q 0 0 0 rg BT 176.82 389.10 Td (our ) Tj ET Q q 0 0 0 rg BT 194.08 389.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 219.12 389.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 247.18 389.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 298.04 389.10 Td (under ) Tj ET Q q 0 0 0 rg BT 324.74 389.10 Td (which ) Tj ET Q q 0 0 0 rg BT 353.11 389.10 Td (as ) Tj ET Q q 0 0 0 rg BT 365.37 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.63 389.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 437.65 389.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 464.08 389.10 Td (we ) Tj ET Q q 0 0 0 rg BT 479.67 389.10 Td (had ) Tj ET Q q 0 0 0 rg BT 498.05 389.10 Td (ample ) Tj ET Q q 0 0 0 rg BT 526.41 389.10 Td (available ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 93.78 377.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 129.71 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 140.11 377.10 Td (cover ) Tj ET Q q 0 0 0 rg BT 164.93 377.10 Td (any ) Tj ET Q q 0 0 0 rg BT 181.99 377.10 Td (foreseeable ) Tj ET Q q 0 0 0 rg BT 230.13 377.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 250.52 377.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 271.47 377.10 Td (shortfall. ) Tj ET Q q 0 0 0 rg BT 309.92 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 312.54 377.10 Td (If ) Tj ET Q q 0 0 0 rg BT 321.82 377.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 348.31 377.10 Td (were ) Tj ET Q q 0 0 0 rg BT 370.36 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 380.76 377.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 417.79 377.10 Td (or ) Tj ET Q q 0 0 0 rg BT 428.74 377.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 463.57 377.10 Td (in ) Tj ET Q q 0 0 0 rg BT 473.97 377.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 514.35 377.10 Td (results ) Tj ET Q q 0 0 0 rg BT 543.08 377.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.91 365.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 84.74 365.10 Td (a ) Tj ET Q q 0 0 0 rg BT 91.81 365.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 132.21 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 142.61 365.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 189.11 365.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 211.74 365.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 232.14 365.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 256.99 365.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 309.61 365.10 Td (below ) Tj ET Q q 0 0 0 rg BT 336.68 365.10 Td (our ) Tj ET Q q 0 0 0 rg BT 352.63 365.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 391.36 365.10 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 435.07 365.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 475.46 365.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 495.86 365.10 Td (flows, ) Tj ET Q q 0 0 0 rg BT 523.21 365.10 Td (we ) Tj ET Q q 0 0 0 rg BT 537.50 365.10 Td (would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 74.88 353.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 104.13 353.10 Td (our ) Tj ET Q q 0 0 0 rg BT 120.06 353.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 149.32 353.10 Td (expenditures. ) Tj ET Q q 0 0 0 rg BT 205.51 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 208.12 353.10 Td (If ) Tj ET Q q 0 0 0 rg BT 217.38 353.10 Td (we ) Tj ET Q q 0 0 0 rg BT 231.65 353.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 260.90 353.10 Td (our ) Tj ET Q q 0 0 0 rg BT 276.83 353.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 306.08 353.10 Td (spending ) Tj ET Q q 0 0 0 rg BT 344.80 353.10 Td (due ) Tj ET Q q 0 0 0 rg BT 361.84 353.10 Td (to ) Tj ET Q q 0 0 0 rg BT 372.22 353.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 397.59 353.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 417.97 353.10 Td (flows, ) Tj ET Q q 0 0 0 rg BT 445.29 353.10 Td (any ) Tj ET Q q 0 0 0 rg BT 462.33 353.10 Td (sizeable ) Tj ET Q q 0 0 0 rg BT 497.14 353.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 537.51 353.10 Td (would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 74.77 341.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 100.04 341.10 Td (our ) Tj ET Q q 0 0 0 rg BT 115.87 341.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 162.24 341.10 Td (production ) Tj ET Q q 0 0 0 rg BT 208.06 341.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 233.89 341.10 Td (in ) Tj ET Q q 0 0 0 rg BT 244.17 341.10 Td (future ) Tj ET Q q 0 0 0 rg BT 270.54 341.10 Td (years.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 317.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 101.92 317.10 Td (Expenditur) Tj ET Q q 0 0 0 rg BT 150.64 317.10 Td (e ) Tj ET Q q 0 0 0 rg BT 157.83 317.10 Td (Summary) Tj ET Q q 0 0 0 rg BT 199.50 317.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.00 317.10 Td (��) Tj ET Q q 0 0 0 rg BT 206.82 317.10 Td (The ) Tj ET Q q 0 0 0 rg BT 225.12 317.10 Td (following ) Tj ET Q q 0 0 0 rg BT 266.75 317.10 Td (table ) Tj ET Q q 0 0 0 rg BT 288.94 317.10 Td (reflects ) Tj ET Q q 0 0 0 rg BT 321.11 317.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 357.18 317.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 386.58 317.10 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 440.42 317.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 484.28 317.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 518.11 317.10 Td (capital\) ) Tj ET Q q 0 0 0 rg BT 550.84 317.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 305.10 Td (years ) Tj ET Q q 0 0 0 rg BT 87.82 305.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 114.19 305.10 Td (December ) Tj ET Q q 0 0 0 rg BT 157.78 305.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.78 305.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.78 305.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.78 305.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.78 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 220.28 305.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.21 305.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 257.21 305.10 Td (:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 264.60 312.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 362.00 264.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 366.00 264.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 264.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 433.00 264.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.00 264.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 500.00 264.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 234.60 312.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 362.00 234.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 366.00 234.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 234.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 433.00 234.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.00 234.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 500.00 234.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 204.60 312.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 362.00 204.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 366.00 204.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 204.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 433.00 204.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.00 204.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 500.00 204.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 174.60 312.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 362.00 174.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 366.00 174.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 174.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 433.00 174.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.00 174.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 500.00 174.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 144.60 312.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 362.00 144.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 366.00 144.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 144.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 433.00 144.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.00 144.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 500.00 144.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 114.60 312.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 362.00 114.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 366.00 114.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 114.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 433.00 114.60 63.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.00 114.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 500.00 114.60 63.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 279.6 m 429 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 264.6 m 362 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 279.6 m 429 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 264.6 m 429 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 279.6 m 496 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 264.6 m 496 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 279.6 m 563 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 264.6 m 563 264.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 204.60000000000002 m 429 204.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 204.60000000000002 m 496 204.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 204.60000000000002 m 563 204.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 174.60000000000002 m 429 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 174.60000000000002 m 496 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 174.60000000000002 m 563 174.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 144.60000000000002 m 429 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 144.60000000000002 m 496 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 144.60000000000002 m 563 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 114.60000000000002 m 429 114.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 114.60000000000002 m 496 114.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 114.60000000000002 m 563 114.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 100.60000000000002 m 429 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 366 98.60000000000002 m 429 98.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 100.60000000000002 m 496 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 433 98.60000000000002 m 496 98.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 100.60000000000002 m 563 100.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 500 98.60000000000002 m 563 98.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.45 284.27 Td (Y) Tj ET Q q 0 0 0 rg BT 418.17 284.27 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 269.31 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.00 269.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.00 269.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.00 269.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 254.27 Td (Capital expenditures by project) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 254.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 254.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.50 254.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 239.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 239.27 Td (ertiary oil fields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 239.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 239.27 Td (142,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 239.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 239.27 Td (129,458) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.50 239.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 239.27 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 239.27 Td (19,1) Tj ET Q q 0 0 0 rg BT 549.15 239.27 Td (17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 224.27 Td (Non-tertiary fields) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 224.27 Td (104,81) Tj ET Q q 0 0 0 rg BT 420.15 224.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 224.27 Td (53,647) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 224.27 Td (31,034) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 209.27 Td (Capitalized internal costs) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 165.58 213.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 209.27 Td (46,599) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 209.27 Td (52,616) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 209.27 Td (56,260) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 194.27 Td (Oil and natural gas capital expenditures) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 194.27 Td (293,970) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 194.27 Td (235,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 194.27 Td (206,41) Tj ET Q q 0 0 0 rg BT 554.15 194.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 179.27 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 78.39 177.84 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.64 179.27 Td ( pipelines, sources and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 179.27 Td (28,700) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 469.65 179.27 Td (5,105) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 179.27 Td (2,235) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 165.33 Td (Capital expenditur) Tj ET Q q 0 0 0 rg BT 145.16 165.33 Td (es, befor) Tj ET Q q 0 0 0 rg BT 181.08 165.33 Td (e acquisitions and capitalized inter) Tj ET Q q 0 0 0 rg BT 328.68 165.33 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 164.27 Td (322,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 164.27 Td (240,826) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 164.27 Td (208,646) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 149.27 Td (Acquisitions of oil and natural gas properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 149.27 Td (541) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 149.27 Td (88,777) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 149.27 Td (1) Tj ET Q q 0 0 0 rg BT 536.65 149.27 Td (1,706) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 134.28 Td (Capital expenditur) Tj ET Q q 0 0 0 rg BT 145.25 134.28 Td (es, befor) Tj ET Q q 0 0 0 rg BT 181.17 134.28 Td (e capitalized inter) Tj ET Q q 0 0 0 rg BT 257.08 134.28 Td (est) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 134.27 Td (323,21) Tj ET Q q 0 0 0 rg BT 420.15 134.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 134.27 Td (329,603) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 134.27 Td (220,352) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 119.27 Td (Capitalized interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 119.27 Td (37,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.65 119.27 Td (30,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 119.27 Td (25,982) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 64.50 104.28 Td (Capital expenditur) Tj ET Q q 0 0 0 rg BT 145.16 104.28 Td (es, total) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.50 104.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 104.27 Td (360,290) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.50 104.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.65 104.27 Td (360,365) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.50 104.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 104.27 Td (246,334) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 76.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 76.10 Td (Includes ) Tj ET Q q 0 0 0 rg BT 103.88 76.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 149.68 76.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 182.72 76.10 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 231.61 76.10 Td (exploration ) Tj ET Q q 0 0 0 rg BT 279.65 76.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.59 76.10 Td (development ) Tj ET Q q 0 0 0 rg BT 350.74 76.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 373.24 76.10 Td (and ) Tj ET Q q 0 0 0 rg BT 390.18 76.10 Td (pre-production ) Tj ET Q q 0 0 0 rg BT 452.10 76.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 483.47 76.10 Td (startup ) Tj ET Q q 0 0 0 rg BT 513.19 76.10 Td (costs.) Tj ET Q endstream endobj 89 0 obj <> endobj 90 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (44) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 713.25 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 130.54 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 149.17 713.25 Td (Obligations) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 198.62 713.25 Td (. ) Tj ET Q q 0 0 0 rg BT 203.62 713.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.12 713.25 Td (A) Tj ET Q q 0 0 0 rg BT 212.79 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 215.29 713.25 Td (summary ) Tj ET Q q 0 0 0 rg BT 255.01 713.25 Td (of ) Tj ET Q q 0 0 0 rg BT 265.84 713.25 Td (our ) Tj ET Q q 0 0 0 rg BT 281.67 713.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 328.61 713.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.33 713.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 396.91 713.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.91 713.25 Td (, ) Tj ET Q q 0 0 0 rg BT 421.91 713.25 Td (is ) Tj ET Q q 0 0 0 rg BT 431.08 713.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 471.90 713.25 Td (in ) Tj ET Q q 0 0 0 rg BT 482.18 713.25 Td (the ) Tj ET Q q 0 0 0 rg BT 496.89 713.25 Td (following ) Tj ET Q q 0 0 0 rg BT 538.28 713.25 Td (table:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 676.75 132.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.50 676.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 257.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 261.50 676.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 333.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 337.50 676.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.50 676.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 485.50 676.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 489.50 676.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 626.75 132.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.50 626.75 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.50 626.75 72.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 257.50 626.75 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 261.50 626.75 72.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 333.50 626.75 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 337.50 626.75 72.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.50 626.75 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.50 626.75 72.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 485.50 626.75 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 489.50 626.75 72.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 589.75 132.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.50 589.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.50 589.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 257.50 589.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 261.50 589.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 333.50 589.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 337.50 589.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.50 589.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.50 589.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 485.50 589.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 489.50 589.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 547.75 132.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.50 547.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 257.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 261.50 547.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 333.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 337.50 547.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.50 547.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 485.50 547.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 489.50 547.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 521.75 132.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.50 521.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.50 521.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 257.50 521.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 261.50 521.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 333.50 521.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 337.50 521.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.50 521.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.50 521.75 72.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 485.50 521.75 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 489.50 521.75 72.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 689.75 m 257.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257.5 689.75 m 261.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 689.75 m 333.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 689.75 m 337.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 689.75 m 409.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 689.75 m 413.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 689.75 m 485.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 485.5 689.75 m 489.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 689.75 m 561.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 676.75 m 181.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 689.75 m 257.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 676.75 m 257.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 257.5 689.75 m 261.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 689.75 m 333.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 676.75 m 333.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 333.5 689.75 m 337.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 689.75 m 409.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 676.75 m 409.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409.5 689.75 m 413.5 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 676.75 m 485.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 676.75 m 561.5 676.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185.5 521.75 m 257.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 261.5 521.75 m 333.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 337.5 521.75 m 409.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413.5 521.75 m 485.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 489.5 521.75 m 561.5 521.75 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 694.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.30 694.00 Td (Payments Due by Period) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 52.00 681.00 Td (In thousands) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 213.00 681.00 Td (2019) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 273.20 681.00 Td (2020 and 2021) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 349.20 681.00 Td (2022 and 2023) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 432.30 681.00 Td (Thereafter) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.80 681.00 Td (T) Tj ET Q q 0 0 0 rg BT 521.13 681.00 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 668.00 Td (Contractual obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.00 668.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.00 668.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.00 668.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.00 668.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.00 668.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 655.00 Td (Estimated interest payments on) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 647.00 Td (senior secured bank credit facility) Tj ET Q q 0 0 0 rg BT 172.14 647.00 Td (,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 639.00 Td (senior secured second lien notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 631.00 Td (and subordinated debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.00 631.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.30 631.00 Td (178,533) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.00 631.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.30 631.00 Td (317,444) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.00 631.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.30 631.00 Td (105,765) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.00 631.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.30 631.00 Td (4,313) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.00 631.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 631.00 Td (606,055) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 618.70 Td (Senior secured debt \(principal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 610.70 Td (balance\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.30 612.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.30 612.00 Td (614,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.30 612.00 Td (455,668) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 612.00 Td (450,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 612.00 Td (1,520,587) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 599.70 Td (Subordinated debt \(principal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 591.75 Td (balance\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.30 594.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.30 594.00 Td (203,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 380.30 594.00 Td (622,640) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 474.30 594.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 594.00 Td (826,185) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 581.70 Td (Operating lease obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.30 581.00 Td (10,690) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.30 581.00 Td (19,783) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.30 581.00 Td (20,485) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 581.00 Td (18,169) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 581.00 Td (69,127) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 568.70 Td (Pipeline and capital lease) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 560.70 Td (obligations including interest) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 552.70 Td (component) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.30 552.00 Td (32,369) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 308.30 552.00 Td (54,863) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.30 552.00 Td (55,770) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 552.00 Td (1) Tj ET Q q 0 0 0 rg BT 460.30 552.00 Td (13,439) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 552.00 Td (256,441) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 539.00 Td (Other obligations) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 119.77 542.63 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 232.30 539.00 Td (61,213) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.30 539.00 Td (160,801) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.30 539.00 Td (73,425) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.30 539.00 Td (84,577) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 539.00 Td (380,016) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 526.00 Td (Asset retirement obligations) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 154.20 529.63 Td (\(2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 236.30 526.00 Td (2,1) Tj ET Q q 0 0 0 rg BT 246.30 526.00 Td (15) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 312.30 526.00 Td (1,442) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 384.30 526.00 Td (17,740) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.30 526.00 Td (781,249) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 526.00 Td (802,546) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 76.00 513.70 Td (T) Tj ET Q q 0 0 0 rg BT 80.33 513.70 Td (otal contractual obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 188.00 513.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 228.30 513.00 Td (284,920) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.00 513.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 298.30 513.00 Td (1,372,797) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 340.00 513.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.30 513.00 Td (1,351,493) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 416.00 513.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 450.30 513.00 Td (1,451,747) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 492.00 513.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 513.00 Td (4,460,957) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 485.25 Td (Represents ) Tj ET Q q 0 0 0 rg BT 113.87 485.25 Td (future ) Tj ET Q q 0 0 0 rg BT 140.24 485.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 160.50 485.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 217.44 485.25 Td (under ) Tj ET Q q 0 0 0 rg BT 242.70 485.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 281.29 485.25 Td (in ) Tj ET Q q 0 0 0 rg BT 291.56 485.25 Td (place ) Tj ET Q q 0 0 0 rg BT 315.15 485.25 Td (as ) Tj ET Q q 0 0 0 rg BT 325.97 485.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.80 485.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 395.38 485.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.38 485.25 Td (, ) Tj ET Q q 0 0 0 rg BT 420.37 485.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 460.08 485.25 Td (for ) Tj ET Q q 0 0 0 rg BT 474.23 485.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 512.26 485.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 550.85 485.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 473.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 81.39 471.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.64 473.25 Td ( ) Tj ET Q q 0 0 0 rg BT 87.06 473.25 Td (captured ) Tj ET Q q 0 0 0 rg BT 123.90 473.25 Td (from ) Tj ET Q q 0 0 0 rg BT 145.76 473.25 Td (industrial ) Tj ET Q q 0 0 0 rg BT 185.95 473.25 Td (sources, ) Tj ET Q q 0 0 0 rg BT 220.86 473.25 Td (drilling ) Tj ET Q q 0 0 0 rg BT 252.72 473.25 Td (rig ) Tj ET Q q 0 0 0 rg BT 266.25 473.25 Td (services ) Tj ET Q q 0 0 0 rg BT 300.87 473.25 Td (and ) Tj ET Q q 0 0 0 rg BT 317.73 473.25 Td (well-related ) Tj ET Q q 0 0 0 rg BT 367.90 473.25 Td (costs.��) Tj ET Q q 0 0 0 rg BT 394.85 473.25 Td (As ) Tj ET Q q 0 0 0 rg BT 408.38 473.25 Td (is ) Tj ET Q q 0 0 0 rg BT 417.47 473.25 Td (common ) Tj ET Q q 0 0 0 rg BT 454.88 473.25 Td (in ) Tj ET Q q 0 0 0 rg BT 465.08 473.25 Td (our ) Tj ET Q q 0 0 0 rg BT 480.83 473.25 Td (industry) Tj ET Q q 0 0 0 rg BT 512.95 473.25 Td (, ) Tj ET Q q 0 0 0 rg BT 517.87 473.25 Td (we ) Tj ET Q q 0 0 0 rg BT 531.95 473.25 Td (commit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 461.25 Td (to ) Tj ET Q q 0 0 0 rg BT 79.62 461.25 Td (make ) Tj ET Q q 0 0 0 rg BT 105.62 461.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 137.17 461.25 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 192.60 461.25 Td (on ) Tj ET Q q 0 0 0 rg BT 206.95 461.25 Td (a ) Tj ET Q q 0 0 0 rg BT 215.73 461.25 Td (regular ) Tj ET Q q 0 0 0 rg BT 248.39 461.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 272.73 461.25 Td (as ) Tj ET Q q 0 0 0 rg BT 285.41 461.25 Td (part ) Tj ET Q q 0 0 0 rg BT 305.30 461.25 Td (of ) Tj ET Q q 0 0 0 rg BT 317.97 461.25 Td (our ) Tj ET Q q 0 0 0 rg BT 335.65 461.25 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 372.77 461.25 Td (development ) Tj ET Q q 0 0 0 rg BT 428.76 461.25 Td (and ) Tj ET Q q 0 0 0 rg BT 447.54 461.25 Td (exploration ) Tj ET Q q 0 0 0 rg BT 497.43 461.25 Td (program.��) Tj ET Q q 0 0 0 rg BT 538.63 461.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 449.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 124.32 449.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 163.91 449.25 Td (relate ) Tj ET Q q 0 0 0 rg BT 188.50 449.25 Td (to ) Tj ET Q q 0 0 0 rg BT 198.66 449.25 Td (projects ) Tj ET Q q 0 0 0 rg BT 232.70 449.25 Td (that ) Tj ET Q q 0 0 0 rg BT 250.08 449.25 Td (occur ) Tj ET Q q 0 0 0 rg BT 274.68 449.25 Td (during ) Tj ET Q q 0 0 0 rg BT 303.17 449.25 Td (the ) Tj ET Q q 0 0 0 rg BT 317.77 449.25 Td (subsequent ) Tj ET Q q 0 0 0 rg BT 364.59 449.25 Td (several ) Tj ET Q q 0 0 0 rg BT 395.30 449.25 Td (months ) Tj ET Q q 0 0 0 rg BT 427.13 449.25 Td (and ) Tj ET Q q 0 0 0 rg BT 443.95 449.25 Td (are ) Tj ET Q q 0 0 0 rg BT 458.54 449.25 Td (usually ) Tj ET Q q 0 0 0 rg BT 489.82 449.25 Td (part ) Tj ET Q q 0 0 0 rg BT 507.75 449.25 Td (of ) Tj ET Q q 0 0 0 rg BT 518.46 449.25 Td (our ) Tj ET Q q 0 0 0 rg BT 534.18 449.25 Td (normal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 437.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 107.41 437.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 145.65 437.25 Td (or ) Tj ET Q q 0 0 0 rg BT 156.12 437.25 Td (part ) Tj ET Q q 0 0 0 rg BT 173.81 437.25 Td (of ) Tj ET Q q 0 0 0 rg BT 184.29 437.25 Td (our ) Tj ET Q q 0 0 0 rg BT 199.76 437.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 228.55 437.25 Td (budget ) Tj ET Q q 0 0 0 rg BT 257.92 437.25 Td (\(see ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 276.16 437.25 Td (2019) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 296.16 437.25 Td ( ) Tj ET Q q 0 0 0 rg BT 298.30 437.25 Td (Capital ) Tj ET Q q 0 0 0 rg BT 330.45 437.25 Td (Spending ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.81 437.25 Td (above\).��) Tj ET Q q 0 0 0 rg BT 404.34 437.25 Td (W) Tj ET Q q 0 0 0 rg BT 412.97 437.25 Td (e ) Tj ET Q q 0 0 0 rg BT 419.56 437.25 Td (also ) Tj ET Q q 0 0 0 rg BT 437.81 437.25 Td (have ) Tj ET Q q 0 0 0 rg BT 458.83 437.25 Td (recurring ) Tj ET Q q 0 0 0 rg BT 497.62 437.25 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 550.85 437.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 425.25 Td (such ) Tj ET Q q 0 0 0 rg BT 90.61 425.25 Td (things ) Tj ET Q q 0 0 0 rg BT 119.83 425.25 Td (as ) Tj ET Q q 0 0 0 rg BT 132.94 425.25 Td (accounting, ) Tj ET Q q 0 0 0 rg BT 184.09 425.25 Td (engineering ) Tj ET Q q 0 0 0 rg BT 236.07 425.25 Td (and ) Tj ET Q q 0 0 0 rg BT 255.28 425.25 Td (legal ) Tj ET Q q 0 0 0 rg BT 279.49 425.25 Td (fees; ) Tj ET Q q 0 0 0 rg BT 303.15 425.25 Td (software ) Tj ET Q q 0 0 0 rg BT 342.35 425.25 Td (maintenance; ) Tj ET Q q 0 0 0 rg BT 400.43 425.25 Td (subscriptions; ) Tj ET Q q 0 0 0 rg BT 460.77 425.25 Td (and ) Tj ET Q q 0 0 0 rg BT 479.98 425.25 Td (other ) Tj ET Q q 0 0 0 rg BT 505.31 425.25 Td (overhead-type ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 413.25 Td (items.��Normally ) Tj ET Q q 0 0 0 rg BT 138.17 413.25 Td (these ) Tj ET Q q 0 0 0 rg BT 161.90 413.25 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 216.18 413.25 Td (do ) Tj ET Q q 0 0 0 rg BT 229.36 413.25 Td (not ) Tj ET Q q 0 0 0 rg BT 245.32 413.25 Td (change ) Tj ET Q q 0 0 0 rg BT 276.82 413.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 320.54 413.25 Td (on ) Tj ET Q q 0 0 0 rg BT 333.72 413.25 Td (an ) Tj ET Q q 0 0 0 rg BT 346.34 413.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 388.39 413.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 411.57 413.25 Td (from ) Tj ET Q q 0 0 0 rg BT 434.19 413.25 Td (year ) Tj ET Q q 0 0 0 rg BT 454.58 413.25 Td (to ) Tj ET Q q 0 0 0 rg BT 465.54 413.25 Td (year ) Tj ET Q q 0 0 0 rg BT 485.93 413.25 Td (and ) Tj ET Q q 0 0 0 rg BT 503.55 413.25 Td (are ) Tj ET Q q 0 0 0 rg BT 518.94 413.25 Td (part ) Tj ET Q q 0 0 0 rg BT 537.67 413.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.19 413.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 401.25 Td (general ) Tj ET Q q 0 0 0 rg BT 98.99 401.25 Td (and ) Tj ET Q q 0 0 0 rg BT 115.50 401.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 174.78 401.25 Td (expenses.��) Tj ET Q q 0 0 0 rg BT 218.20 401.25 Td (W) Tj ET Q q 0 0 0 rg BT 226.83 401.25 Td (e ) Tj ET Q q 0 0 0 rg BT 233.34 401.25 Td (have ) Tj ET Q q 0 0 0 rg BT 254.29 401.25 Td (not ) Tj ET Q q 0 0 0 rg BT 269.13 401.25 Td (attempted ) Tj ET Q q 0 0 0 rg BT 310.63 401.25 Td (to ) Tj ET Q q 0 0 0 rg BT 320.48 401.25 Td (estimate ) Tj ET Q q 0 0 0 rg BT 355.87 401.25 Td (the ) Tj ET Q q 0 0 0 rg BT 370.16 401.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 406.11 401.25 Td (of ) Tj ET Q q 0 0 0 rg BT 416.51 401.25 Td (these ) Tj ET Q q 0 0 0 rg BT 439.13 401.25 Td (types ) Tj ET Q q 0 0 0 rg BT 462.31 401.25 Td (of ) Tj ET Q q 0 0 0 rg BT 472.71 401.25 Td (recurring ) Tj ET Q q 0 0 0 rg BT 511.42 401.25 Td (expenditures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 389.25 Td (in ) Tj ET Q q 0 0 0 rg BT 78.24 389.25 Td (this ) Tj ET Q q 0 0 0 rg BT 95.65 389.25 Td (table, ) Tj ET Q q 0 0 0 rg BT 120.55 389.25 Td (as ) Tj ET Q q 0 0 0 rg BT 131.84 389.25 Td (most ) Tj ET Q q 0 0 0 rg BT 154.25 389.25 Td (could ) Tj ET Q q 0 0 0 rg BT 179.43 389.25 Td (be ) Tj ET Q q 0 0 0 rg BT 191.83 389.25 Td (quickly ) Tj ET Q q 0 0 0 rg BT 224.79 389.25 Td (canceled ) Tj ET Q q 0 0 0 rg BT 262.73 389.25 Td (with ) Tj ET Q q 0 0 0 rg BT 283.47 389.25 Td (regard ) Tj ET Q q 0 0 0 rg BT 311.97 389.25 Td (to ) Tj ET Q q 0 0 0 rg BT 322.71 389.25 Td (any ) Tj ET Q q 0 0 0 rg BT 340.11 389.25 Td (specific ) Tj ET Q q 0 0 0 rg BT 374.17 389.25 Td (vendor) Tj ET Q q 0 0 0 rg BT 401.53 389.25 Td (, ) Tj ET Q q 0 0 0 rg BT 407.00 389.25 Td (even ) Tj ET Q q 0 0 0 rg BT 428.84 389.25 Td (though ) Tj ET Q q 0 0 0 rg BT 459.58 389.25 Td (the ) Tj ET Q q 0 0 0 rg BT 474.76 389.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 509.93 389.25 Td (itself ) Tj ET Q q 0 0 0 rg BT 532.89 389.25 Td (may ) Tj ET Q q 0 0 0 rg BT 553.07 389.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 377.25 Td (required ) Tj ET Q q 0 0 0 rg BT 102.92 377.25 Td (for ) Tj ET Q q 0 0 0 rg BT 116.69 377.25 Td (our ) Tj ET Q q 0 0 0 rg BT 132.13 377.25 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 167.02 377.25 Td (normal ) Tj ET Q q 0 0 0 rg BT 197.46 377.25 Td (operations. ) Tj ET Q q 0 0 0 rg BT 243.72 377.25 Td ( ) Tj ET Q q 0 0 0 rg BT 245.83 377.25 Td (For ) Tj ET Q q 0 0 0 rg BT 261.83 377.25 Td (further ) Tj ET Q q 0 0 0 rg BT 291.15 377.25 Td (discussion ) Tj ET Q q 0 0 0 rg BT 334.93 377.25 Td (of ) Tj ET Q q 0 0 0 rg BT 345.37 377.25 Td (our ) Tj ET Q q 0 0 0 rg BT 360.81 377.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 402.35 377.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 458.90 377.25 Td (to ) Tj ET Q q 0 0 0 rg BT 468.78 377.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 506.43 377.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 520.32 375.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.57 377.25 Td (, ) Tj ET Q q 0 0 0 rg BT 528.18 377.25 Td (see ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.06 377.25 Td (Note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 365.25 Td (12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.50 365.25 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 82.50 365.25 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 140.00 365.25 Td (and ) Tj ET Q q 0 0 0 rg BT 157.50 365.25 Td (Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.71 365.25 Td (, ) Tj ET Q q 0 0 0 rg BT 219.71 365.25 Td (to ) Tj ET Q q 0 0 0 rg BT 229.99 365.25 Td (the ) Tj ET Q q 0 0 0 rg BT 244.71 365.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 299.98 365.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 339.69 365.25 Td (Statements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 341.25 Td (Represents ) Tj ET Q q 0 0 0 rg BT 114.16 341.25 Td (the ) Tj ET Q q 0 0 0 rg BT 129.16 341.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 170.26 341.25 Td (future ) Tj ET Q q 0 0 0 rg BT 196.91 341.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 219.13 341.25 Td (retirement ) Tj ET Q q 0 0 0 rg BT 263.00 341.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 310.23 341.25 Td (on ) Tj ET Q q 0 0 0 rg BT 323.01 341.25 Td (an ) Tj ET Q q 0 0 0 rg BT 335.23 341.25 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 391.33 341.25 Td (basis.��) Tj ET Q q 0 0 0 rg BT 418.65 341.25 Td (The ) Tj ET Q q 0 0 0 rg BT 436.98 341.25 Td (present ) Tj ET Q q 0 0 0 rg BT 468.64 341.25 Td (value ) Tj ET Q q 0 0 0 rg BT 493.07 341.25 Td (of ) Tj ET Q q 0 0 0 rg BT 504.18 341.25 Td (the ) Tj ET Q q 0 0 0 rg BT 519.18 341.25 Td (discounted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 329.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 89.22 329.25 Td (retirement ) Tj ET Q q 0 0 0 rg BT 132.58 329.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 175.41 329.25 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 184.36 329.25 Td ($176.6 ) Tj ET Q q 0 0 0 rg BT 214.14 329.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.03 329.25 Td (, ) Tj ET Q q 0 0 0 rg BT 247.81 329.25 Td (as ) Tj ET Q q 0 0 0 rg BT 258.42 329.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 305.67 329.25 Td (under ) Tj ET Q q 0 0 0 rg BT 330.72 329.25 Td (the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 345.21 329.25 Td (Asset ) Tj ET Q q 0 0 0 rg BT 368.60 329.25 Td (Retir) Tj ET Q q 0 0 0 rg BT 388.23 329.25 Td (ement ) Tj ET Q q 0 0 0 rg BT 414.38 329.25 Td (and ) Tj ET Q q 0 0 0 rg BT 431.66 329.25 Td (Envir) Tj ET Q q 0 0 0 rg BT 453.50 329.25 Td (onmental ) Tj ET Q q 0 0 0 rg BT 493.00 329.25 Td (Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.22 329.25 Td ( ) Tj ET Q q 0 0 0 rg BT 542.50 329.25 Td (topic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 317.25 Td (of ) Tj ET Q q 0 0 0 rg BT 78.90 317.25 Td (the ) Tj ET Q q 0 0 0 rg BT 94.19 317.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 133.79 317.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 183.52 317.25 Td (Standards ) Tj ET Q q 0 0 0 rg BT 226.03 317.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 253.54 317.25 Td (Codification ) Tj ET Q q 0 0 0 rg BT 306.60 317.25 Td (\(�F) Tj ET Q q 0 0 0 rg BT 319.18 317.25 Td (ASC�\), ) Tj ET Q q 0 0 0 rg BT 351.98 317.25 Td (and ) Tj ET Q q 0 0 0 rg BT 369.48 317.25 Td (is ) Tj ET Q q 0 0 0 rg BT 379.22 317.25 Td (further ) Tj ET Q q 0 0 0 rg BT 409.50 317.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 450.90 317.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.75 317.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 484.26 317.25 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.26 317.25 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 494.83 317.25 Td (Asset ) Tj ET Q q 0 0 0 rg BT 519.01 317.25 Td (Retir) Tj ET Q q 0 0 0 rg BT 538.63 317.25 Td (ement ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 305.25 Td (Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.73 305.25 Td (, ) Tj ET Q q 0 0 0 rg BT 119.73 305.25 Td (to ) Tj ET Q q 0 0 0 rg BT 130.00 305.25 Td (the ) Tj ET Q q 0 0 0 rg BT 144.72 305.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 200.00 305.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 239.71 305.25 Td (Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 281.25 Td (Off-Balance ) Tj ET Q q 0 0 0 rg BT 122.29 281.25 Td (Sheet ) Tj ET Q q 0 0 0 rg BT 148.06 281.25 Td (Arrangements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 212.21 281.25 Td ( ) Tj ET Q q 0 0 0 rg BT 215.35 281.25 Td ( ) Tj ET Q q 0 0 0 rg BT 218.25 281.25 Td (W) Tj ET Q q 0 0 0 rg BT 226.89 281.25 Td (e ) Tj ET Q q 0 0 0 rg BT 234.46 281.25 Td (have ) Tj ET Q q 0 0 0 rg BT 256.47 281.25 Td (several ) Tj ET Q q 0 0 0 rg BT 287.92 281.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 328.82 281.25 Td (leases ) Tj ET Q q 0 0 0 rg BT 355.83 281.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 389.51 281.25 Td (to ) Tj ET Q q 0 0 0 rg BT 400.42 281.25 Td (of) Tj ET Q q 0 0 0 rg BT 408.57 281.25 Td (fice ) Tj ET Q q 0 0 0 rg BT 426.69 281.25 Td (space ) Tj ET Q q 0 0 0 rg BT 452.03 281.25 Td (and ) Tj ET Q q 0 0 0 rg BT 469.60 281.25 Td (other ) Tj ET Q q 0 0 0 rg BT 493.28 281.25 Td (minor ) Tj ET Q q 0 0 0 rg BT 520.30 281.25 Td (equipment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.25 Td (leases.��) Tj ET Q q 0 0 0 rg BT 80.33 269.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 92.39 269.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 150.54 269.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.54 269.25 Td (, ) Tj ET Q q 0 0 0 rg BT 175.11 269.25 Td (we ) Tj ET Q q 0 0 0 rg BT 188.84 269.25 Td (had ) Tj ET Q q 0 0 0 rg BT 205.34 269.25 Td (a ) Tj ET Q q 0 0 0 rg BT 211.85 269.25 Td (total ) Tj ET Q q 0 0 0 rg BT 231.69 269.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.08 269.25 Td ($62.0 ) Tj ET Q q 0 0 0 rg BT 266.65 269.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.54 269.25 Td (�of ) Tj ET Q q 0 0 0 rg BT 308.44 269.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 334.94 269.25 Td (of ) Tj ET Q q 0 0 0 rg BT 345.34 269.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 370.17 269.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 418.90 269.25 Td (under ) Tj ET Q q 0 0 0 rg BT 443.74 269.25 Td (our ) Tj ET Q q 0 0 0 rg BT 459.13 269.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 485.64 269.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 518.24 269.25 Td (bank ) Tj ET Q q 0 0 0 rg BT 539.75 269.25 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (facility) Tj ET Q q 0 0 0 rg BT 77.17 257.25 Td (.��) Tj ET Q q 0 0 0 rg BT 84.12 257.25 Td (Additionally) Tj ET Q q 0 0 0 rg BT 134.02 257.25 Td (, ) Tj ET Q q 0 0 0 rg BT 140.41 257.25 Td (we ) Tj ET Q q 0 0 0 rg BT 155.96 257.25 Td (have ) Tj ET Q q 0 0 0 rg BT 178.73 257.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 227.06 257.25 Td (for ) Tj ET Q q 0 0 0 rg BT 242.61 257.25 Td (development ) Tj ET Q q 0 0 0 rg BT 298.15 257.25 Td (and ) Tj ET Q q 0 0 0 rg BT 316.48 257.25 Td (exploratory ) Tj ET Q q 0 0 0 rg BT 366.46 257.25 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 421.44 257.25 Td (that ) Tj ET Q q 0 0 0 rg BT 440.33 257.25 Td (arise ) Tj ET Q q 0 0 0 rg BT 463.09 257.25 Td (from ) Tj ET Q q 0 0 0 rg BT 486.42 257.25 Td (our ) Tj ET Q q 0 0 0 rg BT 503.64 257.25 Td (normal ) Tj ET Q q 0 0 0 rg BT 535.85 257.25 Td (capital ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.25 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 98.96 245.25 Td (program ) Tj ET Q q 0 0 0 rg BT 135.09 245.25 Td (or ) Tj ET Q q 0 0 0 rg BT 145.67 245.25 Td (from ) Tj ET Q q 0 0 0 rg BT 167.37 245.25 Td (other ) Tj ET Q q 0 0 0 rg BT 190.17 245.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 240.19 245.25 Td (common ) Tj ET Q q 0 0 0 rg BT 277.44 245.25 Td (to ) Tj ET Q q 0 0 0 rg BT 287.47 245.25 Td (our ) Tj ET Q q 0 0 0 rg BT 303.06 245.25 Td (industry) Tj ET Q q 0 0 0 rg BT 335.18 245.25 Td (, ) Tj ET Q q 0 0 0 rg BT 339.94 245.25 Td (none ) Tj ET Q q 0 0 0 rg BT 361.63 245.25 Td (of ) Tj ET Q q 0 0 0 rg BT 372.22 245.25 Td (which ) Tj ET Q q 0 0 0 rg BT 398.91 245.25 Td (are ) Tj ET Q q 0 0 0 rg BT 413.37 245.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 450.60 245.25 Td (on ) Tj ET Q q 0 0 0 rg BT 462.86 245.25 Td (our ) Tj ET Q q 0 0 0 rg BT 478.44 245.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 511.23 245.25 Td (sheet. ) Tj ET Q q 0 0 0 rg BT 536.53 245.25 Td ( ) Tj ET Q q 0 0 0 rg BT 538.62 245.25 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 96.00 233.25 Td (are ) Tj ET Q q 0 0 0 rg BT 110.26 233.25 Td (further ) Tj ET Q q 0 0 0 rg BT 139.53 233.25 Td (described ) Tj ET Q q 0 0 0 rg BT 179.90 233.25 Td (in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 189.74 233.25 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 246.79 233.25 Td (and ) Tj ET Q q 0 0 0 rg BT 263.85 233.25 Td (Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.08 233.25 Td ( ) Tj ET Q q 0 0 0 rg BT 313.13 233.25 Td (above. ) Tj ET Q q 0 0 0 rg BT 341.57 233.25 Td ( ) Tj ET Q q 0 0 0 rg BT 343.63 233.25 Td (In ) Tj ET Q q 0 0 0 rg BT 354.01 233.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 391.34 233.25 Td (in ) Tj ET Q q 0 0 0 rg BT 401.18 233.25 Td (order ) Tj ET Q q 0 0 0 rg BT 424.33 233.25 Td (to ) Tj ET Q q 0 0 0 rg BT 434.17 233.25 Td (recover ) Tj ET Q q 0 0 0 rg BT 466.20 233.25 Td (our ) Tj ET Q q 0 0 0 rg BT 481.59 233.25 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 534.74 233.25 Td (proved ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.25 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 88.24 221.25 Td (we ) Tj ET Q q 0 0 0 rg BT 103.38 221.25 Td (must ) Tj ET Q q 0 0 0 rg BT 126.30 221.25 Td (also ) Tj ET Q q 0 0 0 rg BT 145.89 221.25 Td (fund ) Tj ET Q q 0 0 0 rg BT 167.70 221.25 Td (the ) Tj ET Q q 0 0 0 rg BT 183.39 221.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 227.96 221.25 Td (future ) Tj ET Q q 0 0 0 rg BT 255.32 221.25 Td (development ) Tj ET Q q 0 0 0 rg BT 310.45 221.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 333.92 221.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 375.72 221.25 Td (in ) Tj ET Q q 0 0 0 rg BT 386.98 221.25 Td (our ) Tj ET Q q 0 0 0 rg BT 403.79 221.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 435.03 221.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 467.38 221.25 Td (reports, ) Tj ET Q q 0 0 0 rg BT 501.13 221.25 Td (which ) Tj ET Q q 0 0 0 rg BT 529.04 221.25 Td (are ) Tj ET Q q 0 0 0 rg BT 544.73 221.25 Td (only ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.25 Td (included ) Tj ET Q q 0 0 0 rg BT 86.93 209.25 Td (in ) Tj ET Q q 0 0 0 rg BT 97.70 209.25 Td (the ) Tj ET Q q 0 0 0 rg BT 112.91 209.25 Td (table ) Tj ET Q q 0 0 0 rg BT 135.33 209.25 Td (above ) Tj ET Q q 0 0 0 rg BT 162.20 209.25 Td (to ) Tj ET Q q 0 0 0 rg BT 172.97 209.25 Td (the ) Tj ET Q q 0 0 0 rg BT 188.18 209.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 215.61 209.25 Td (we ) Tj ET Q q 0 0 0 rg BT 230.26 209.25 Td (have ) Tj ET Q q 0 0 0 rg BT 252.13 209.25 Td (firm ) Tj ET Q q 0 0 0 rg BT 272.34 209.25 Td (contracts.��For ) Tj ET Q q 0 0 0 rg BT 332.81 209.25 Td (a ) Tj ET Q q 0 0 0 rg BT 340.24 209.25 Td (further ) Tj ET Q q 0 0 0 rg BT 370.44 209.25 Td (discussion ) Tj ET Q q 0 0 0 rg BT 415.11 209.25 Td (of ) Tj ET Q q 0 0 0 rg BT 426.43 209.25 Td (our ) Tj ET Q q 0 0 0 rg BT 442.75 209.25 Td (future ) Tj ET Q q 0 0 0 rg BT 469.62 209.25 Td (development ) Tj ET Q q 0 0 0 rg BT 524.26 209.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 549.75 209.25 Td (see ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 197.25 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 106.43 197.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 121.71 197.25 Td (and ) Tj ET Q q 0 0 0 rg BT 139.21 197.25 Td (Natural ) Tj ET Q q 0 0 0 rg BT 172.83 197.25 Td (Gas ) Tj ET Q q 0 0 0 rg BT 191.44 197.25 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 229.96 197.25 Td (es ) Tj ET Q q 0 0 0 rg BT 240.79 197.25 Td (\(Unaudited\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.67 197.25 Td ( ) Tj ET Q q 0 0 0 rg BT 292.17 197.25 Td (to ) Tj ET Q q 0 0 0 rg BT 302.45 197.25 Td (the ) Tj ET Q q 0 0 0 rg BT 317.17 197.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 372.44 197.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 412.15 197.25 Td (Statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 173.25 Td (FINANCIAL) Tj ET Q q 0 0 0 rg BT 105.62 173.25 Td ( ) Tj ET Q q 0 0 0 rg BT 108.12 173.25 Td (OVER) Tj ET Q q 0 0 0 rg BT 136.66 173.25 Td (VIEW) Tj ET Q q 0 0 0 rg BT 164.26 173.25 Td ( ) Tj ET Q q 0 0 0 rg BT 166.76 173.25 Td (OF) Tj ET Q q 0 0 0 rg BT 180.28 173.25 Td ( ) Tj ET Q q 0 0 0 rg BT 182.60 173.25 Td (TER) Tj ET Q q 0 0 0 rg BT 202.81 173.25 Td (TIAR) Tj ET Q q 0 0 0 rg BT 227.46 173.25 Td (Y) Tj ET Q q 0 0 0 rg BT 234.31 173.25 Td ( ) Tj ET Q q 0 0 0 rg BT 236.81 173.25 Td (OPERA) Tj ET Q q 0 0 0 rg BT 271.07 173.25 Td (TIONS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 149.25 Td (As ) Tj ET Q q 0 0 0 rg BT 80.48 149.25 Td (discussed ) Tj ET Q q 0 0 0 rg BT 120.68 149.25 Td (in ) Tj ET Q q 0 0 0 rg BT 130.32 149.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 150.51 149.25 Td (1, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 159.88 149.25 Td (Business ) Tj ET Q q 0 0 0 rg BT 196.75 149.25 Td (and ) Tj ET Q q 0 0 0 rg BT 213.61 149.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 223.24 149.25 Td (operties ) Tj ET Q q 0 0 0 rg BT 257.33 149.25 Td (� ) Tj ET Q q 0 0 0 rg BT 264.19 149.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 278.84 149.25 Td (and ) Tj ET Q q 0 0 0 rg BT 295.70 149.25 Td (Natural ) Tj ET Q q 0 0 0 rg BT 328.69 149.25 Td (Gas ) Tj ET Q q 0 0 0 rg BT 346.67 149.25 Td (Operations ) Tj ET Q q 0 0 0 rg BT 393.54 149.25 Td (� ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 400.40 149.25 Td (Enhanced ) Tj ET Q q 0 0 0 rg BT 442.25 149.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 456.90 149.25 Td (Recovery ) Tj ET Q q 0 0 0 rg BT 495.96 149.25 Td (Overview) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.27 149.25 Td ( ) Tj ET Q q 0 0 0 rg BT 536.14 149.25 Td (above, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.10 137.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 96.24 137.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 140.16 137.25 Td (represent ) Tj ET Q q 0 0 0 rg BT 179.07 137.25 Td (a ) Tj ET Q q 0 0 0 rg BT 185.78 137.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 230.26 137.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 261.41 137.25 Td (of ) Tj ET Q q 0 0 0 rg BT 272.01 137.25 Td (our ) Tj ET Q q 0 0 0 rg BT 287.60 137.25 Td (overall ) Tj ET Q q 0 0 0 rg BT 317.63 137.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 361.56 137.25 Td (and ) Tj ET Q q 0 0 0 rg BT 378.26 137.25 Td (have ) Tj ET Q q 0 0 0 rg BT 399.41 137.25 Td (become ) Tj ET Q q 0 0 0 rg BT 432.77 137.25 Td (our ) Tj ET Q q 0 0 0 rg BT 448.36 137.25 Td (primary ) Tj ET Q q 0 0 0 rg BT 482.29 137.25 Td (strategic ) Tj ET Q q 0 0 0 rg BT 518.43 137.25 Td (focus. ) Tj ET Q q 0 0 0 rg BT 544.85 137.25 Td ( ) Tj ET Q q 0 0 0 rg BT 546.96 137.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.25 Td (economics ) Tj ET Q q 0 0 0 rg BT 94.49 125.25 Td (of ) Tj ET Q q 0 0 0 rg BT 105.04 125.25 Td (a ) Tj ET Q q 0 0 0 rg BT 111.71 125.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 142.81 125.25 Td (field ) Tj ET Q q 0 0 0 rg BT 163.36 125.25 Td (and ) Tj ET Q q 0 0 0 rg BT 180.02 125.25 Td (the ) Tj ET Q q 0 0 0 rg BT 194.46 125.25 Td (related ) Tj ET Q q 0 0 0 rg BT 223.89 125.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 253.33 125.25 Td (on ) Tj ET Q q 0 0 0 rg BT 265.55 125.25 Td (our ) Tj ET Q q 0 0 0 rg BT 281.11 125.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 318.32 125.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 362.75 125.25 Td (dif) Tj ET Q q 0 0 0 rg BT 373.68 125.25 Td (fer ) Tj ET Q q 0 0 0 rg BT 387.01 125.25 Td (from ) Tj ET Q q 0 0 0 rg BT 408.67 125.25 Td (a ) Tj ET Q q 0 0 0 rg BT 415.33 125.25 Td (conventional ) Tj ET Q q 0 0 0 rg BT 469.21 125.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 481.99 125.25 Td (and ) Tj ET Q q 0 0 0 rg BT 498.66 125.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 514.21 125.25 Td (play ) Tj ET Q q 0 0 0 rg BT 533.65 125.25 Td (and ) Tj ET Q q 0 0 0 rg BT 550.32 125.25 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.25 Td (explained ) Tj ET Q q 0 0 0 rg BT 90.87 113.25 Td (further ) Tj ET Q q 0 0 0 rg BT 120.58 113.25 Td (below) Tj ET Q q 0 0 0 rg BT 144.37 113.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 89.25 Td (While ) Tj ET Q q 0 0 0 rg BT 94.68 89.25 Td (it ) Tj ET Q q 0 0 0 rg BT 102.99 89.25 Td (is ) Tj ET Q q 0 0 0 rg BT 112.41 89.25 Td (dif) Tj ET Q q 0 0 0 rg BT 123.33 89.25 Td (ficult ) Tj ET Q q 0 0 0 rg BT 147.19 89.25 Td (to ) Tj ET Q q 0 0 0 rg BT 157.71 89.25 Td (accurately ) Tj ET Q q 0 0 0 rg BT 201.54 89.25 Td (forecast ) Tj ET Q q 0 0 0 rg BT 235.94 89.25 Td (future ) Tj ET Q q 0 0 0 rg BT 262.56 89.25 Td (production, ) Tj ET Q q 0 0 0 rg BT 311.14 89.25 Td (we ) Tj ET Q q 0 0 0 rg BT 325.55 89.25 Td (believe ) Tj ET Q q 0 0 0 rg BT 357.17 89.25 Td (our ) Tj ET Q q 0 0 0 rg BT 373.25 89.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 404.87 89.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 442.59 89.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 487.00 89.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 520.29 89.25 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 90.93 77.25 Td (production ) Tj ET Q q 0 0 0 rg BT 136.25 77.25 Td (growth ) Tj ET Q q 0 0 0 rg BT 166.58 77.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 203.57 77.25 Td (at ) Tj ET Q q 0 0 0 rg BT 212.78 77.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 257.53 77.25 Td (return ) Tj ET Q q 0 0 0 rg BT 283.41 77.25 Td (metrics, ) Tj ET Q q 0 0 0 rg BT 317.34 77.25 Td (with ) Tj ET Q q 0 0 0 rg BT 337.11 77.25 Td (relatively ) Tj ET Q q 0 0 0 rg BT 376.87 77.25 Td (low ) Tj ET Q q 0 0 0 rg BT 393.87 77.25 Td (risk, ) Tj ET Q q 0 0 0 rg BT 413.36 77.25 Td (assuming ) Tj ET Q q 0 0 0 rg BT 453.14 77.25 Td (crude ) Tj ET Q q 0 0 0 rg BT 477.34 77.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 489.90 77.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 515.77 77.25 Td (are ) Tj ET Q q 0 0 0 rg BT 529.97 77.25 Td (at ) Tj ET Q q 0 0 0 rg BT 539.19 77.25 Td (levels ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.25 Td (that ) Tj ET Q q 0 0 0 rg BT 66.46 65.25 Td (support ) Tj ET Q q 0 0 0 rg BT 98.43 65.25 Td (the ) Tj ET Q q 0 0 0 rg BT 112.62 65.25 Td (development ) Tj ET Q q 0 0 0 rg BT 166.24 65.25 Td (of ) Tj ET Q q 0 0 0 rg BT 176.54 65.25 Td (those ) Tj ET Q q 0 0 0 rg BT 199.62 65.25 Td (projects. ) Tj ET Q q 0 0 0 rg BT 235.74 65.25 Td ( ) Tj ET Q q 0 0 0 rg BT 237.57 65.25 Td (W) Tj ET Q q 0 0 0 rg BT 246.21 65.25 Td (e ) Tj ET Q q 0 0 0 rg BT 252.61 65.25 Td (have ) Tj ET Q q 0 0 0 rg BT 273.46 65.25 Td (been ) Tj ET Q q 0 0 0 rg BT 294.31 65.25 Td (developing ) Tj ET Q q 0 0 0 rg BT 340.71 65.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 371.55 65.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 384.08 65.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 426.03 65.25 Td (for ) Tj ET Q q 0 0 0 rg BT 439.66 65.25 Td (over ) Tj ET Q q 0 0 0 rg BT 459.40 65.25 Td (19 ) Tj ET Q q 0 0 0 rg BT 471.37 65.25 Td (years, ) Tj ET Q q 0 0 0 rg BT 496.93 65.25 Td (and ) Tj ET Q q 0 0 0 rg BT 513.34 65.25 Td (the ) Tj ET Q q 0 0 0 rg BT 527.53 65.25 Td (financial ) Tj ET Q endstream endobj 91 0 obj <> endobj 92 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 80.06 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.75 713.10 Td (such ) Tj ET Q q 0 0 0 rg BT 113.43 713.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 158.44 713.10 Td (is ) Tj ET Q q 0 0 0 rg BT 168.46 713.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 206.78 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 217.91 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 234.59 713.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 275.16 713.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 313.49 713.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 361.55 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.66 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 383.56 713.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 424.13 713.10 Td (below ) Tj ET Q q 0 0 0 rg BT 451.92 713.10 Td (highlights ) Tj ET Q q 0 0 0 rg BT 495.28 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 511.96 713.10 Td (observations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 90.32 701.10 Td (how ) Tj ET Q q 0 0 0 rg BT 110.04 701.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 141.41 701.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 185.56 701.10 Td (have ) Tj ET Q q 0 0 0 rg BT 206.94 701.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 246.09 701.10 Td (our ) Tj ET Q q 0 0 0 rg BT 261.92 701.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 299.40 701.10 Td (statements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 677.10 Td (Finding ) Tj ET Q q 0 0 0 rg BT 103.68 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.64 677.10 Td (Development ) Tj ET Q q 0 0 0 rg BT 181.57 677.10 Td (Costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.41 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 210.24 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 212.87 677.10 Td (W) Tj ET Q q 0 0 0 rg BT 221.51 677.10 Td (e ) Tj ET Q q 0 0 0 rg BT 228.78 677.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 267.71 677.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 296.63 677.10 Td (finding ) Tj ET Q q 0 0 0 rg BT 328.35 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 345.63 677.10 Td (development ) Tj ET Q q 0 0 0 rg BT 400.11 677.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 422.94 677.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 466.88 677.10 Td (future ) Tj ET Q q 0 0 0 rg BT 493.59 677.10 Td (development ) Tj ET Q q 0 0 0 rg BT 548.07 677.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (abandonment ) Tj ET Q q 0 0 0 rg BT 106.31 665.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 129.25 665.10 Td (but ) Tj ET Q q 0 0 0 rg BT 144.96 665.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 187.33 665.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 201.22 663.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.47 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.41 665.10 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 242.56 665.10 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 299.36 665.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 328.95 665.10 Td (expenditures\) ) Tj ET Q q 0 0 0 rg BT 386.31 665.10 Td (over ) Tj ET Q q 0 0 0 rg BT 407.01 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 422.17 665.10 Td (life ) Tj ET Q q 0 0 0 rg BT 438.43 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 449.70 665.10 Td (each ) Tj ET Q q 0 0 0 rg BT 470.95 665.10 Td (field ) Tj ET Q q 0 0 0 rg BT 492.21 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 502.93 665.10 Td (be ) Tj ET Q q 0 0 0 rg BT 515.30 665.10 Td (competitive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (with ) Tj ET Q q 0 0 0 rg BT 69.85 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 84.63 653.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 119.98 653.10 Td (average ) Tj ET Q q 0 0 0 rg BT 153.64 653.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 176.21 653.10 Td (for ) Tj ET Q q 0 0 0 rg BT 190.44 653.10 Td (other ) Tj ET Q q 0 0 0 rg BT 213.55 653.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 226.68 653.10 Td (properties. ) Tj ET Q q 0 0 0 rg BT 271.73 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 274.30 653.10 Td (See ) Tj ET Q q 0 0 0 rg BT 291.31 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 306.10 653.10 Td (definition ) Tj ET Q q 0 0 0 rg BT 347.55 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 358.45 653.10 Td (finding ) Tj ET Q q 0 0 0 rg BT 389.91 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 406.92 653.10 Td (development ) Tj ET Q q 0 0 0 rg BT 461.14 653.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 483.71 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 494.05 653.10 Td (the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 508.84 653.10 Td (Glossary ) Tj ET Q q 0 0 0 rg BT 547.52 653.10 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (Selected ) Tj ET Q q 0 0 0 rg BT 85.13 641.10 Td (Abbr) Tj ET Q q 0 0 0 rg BT 104.76 641.10 Td (eviations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.86 641.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 617.10 Td (T) Tj ET Q q 0 0 0 rg BT 73.99 617.10 Td (iming ) Tj ET Q q 0 0 0 rg BT 99.73 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 109.36 617.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 142.32 617.10 Td (Costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 168.15 617.10 Td (��) Tj ET Q q 0 0 0 rg BT 172.97 617.10 Td (When ) Tj ET Q q 0 0 0 rg BT 198.14 617.10 Td (initiating ) Tj ET Q q 0 0 0 rg BT 235.55 617.10 Td (a ) Tj ET Q q 0 0 0 rg BT 241.28 617.10 Td (new ) Tj ET Q q 0 0 0 rg BT 259.23 617.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 289.40 617.10 Td (flood, ) Tj ET Q q 0 0 0 rg BT 314.30 617.10 Td (there ) Tj ET Q q 0 0 0 rg BT 335.58 617.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 374.08 617.10 Td (is ) Tj ET Q q 0 0 0 rg BT 382.04 617.10 Td (a ) Tj ET Q q 0 0 0 rg BT 387.77 617.10 Td (delay ) Tj ET Q q 0 0 0 rg BT 410.72 617.10 Td (between ) Tj ET Q q 0 0 0 rg BT 445.33 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 458.84 617.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 483.47 617.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 511.41 617.10 Td (expenditures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.78 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 81.84 605.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 119.68 605.10 Td (production ) Tj ET Q q 0 0 0 rg BT 165.85 605.10 Td (increases.��) Tj ET Q q 0 0 0 rg BT 209.81 605.10 Td (W) Tj ET Q q 0 0 0 rg BT 218.45 605.10 Td (e ) Tj ET Q q 0 0 0 rg BT 225.73 605.10 Td (must ) Tj ET Q q 0 0 0 rg BT 248.02 605.10 Td (build ) Tj ET Q q 0 0 0 rg BT 271.42 605.10 Td (facilities, ) Tj ET Q q 0 0 0 rg BT 311.20 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 328.48 605.10 Td (often ) Tj ET Q q 0 0 0 rg BT 351.87 605.10 Td (a ) Tj ET Q q 0 0 0 rg BT 359.15 605.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 373.04 603.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.29 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 379.13 605.10 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 414.19 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 424.81 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.87 605.10 Td (field, ) Tj ET Q q 0 0 0 rg BT 463.54 605.10 Td (before ) Tj ET Q q 0 0 0 rg BT 491.92 605.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 505.81 603.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.06 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 511.90 605.10 Td (flooding ) Tj ET Q q 0 0 0 rg BT 548.63 605.10 Td (can ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (commence, ) Tj ET Q q 0 0 0 rg BT 99.29 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 117.72 593.10 Td (it ) Tj ET Q q 0 0 0 rg BT 127.26 593.10 Td (usually ) Tj ET Q q 0 0 0 rg BT 160.13 593.10 Td (takes ) Tj ET Q q 0 0 0 rg BT 184.66 593.10 Td (six ) Tj ET Q q 0 0 0 rg BT 200.31 593.10 Td (to ) Tj ET Q q 0 0 0 rg BT 212.07 593.10 Td (twelve�months ) Tj ET Q q 0 0 0 rg BT 274.66 593.10 Td (before ) Tj ET Q q 0 0 0 rg BT 304.18 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 320.38 593.10 Td (field ) Tj ET Q q 0 0 0 rg BT 342.69 593.10 Td (responds ) Tj ET Q q 0 0 0 rg BT 382.23 593.10 Td (to ) Tj ET Q q 0 0 0 rg BT 393.99 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.19 593.10 Td (injection ) Tj ET Q q 0 0 0 rg BT 449.17 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 461.48 593.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 475.37 591.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.62 593.10 Td ( ) Tj ET Q q 0 0 0 rg BT 482.60 593.10 Td (\(i.e., ) Tj ET Q q 0 0 0 rg BT 504.64 593.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 519.18 593.10 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (commences\).��Further) Tj ET Q q 0 0 0 rg BT 136.57 581.10 Td (, ) Tj ET Q q 0 0 0 rg BT 141.54 581.10 Td (we ) Tj ET Q q 0 0 0 rg BT 155.67 581.10 Td (may ) Tj ET Q q 0 0 0 rg BT 175.35 581.10 Td (spend ) Tj ET Q q 0 0 0 rg BT 201.15 581.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 245.83 581.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 282.18 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.98 581.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 322.09 581.10 Td (before ) Tj ET Q q 0 0 0 rg BT 350.10 581.10 Td (we ) Tj ET Q q 0 0 0 rg BT 364.23 581.10 Td (can ) Tj ET Q q 0 0 0 rg BT 380.57 581.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 421.90 581.10 Td (any ) Tj ET Q q 0 0 0 rg BT 438.81 581.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 469.04 581.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 504.27 581.10 Td (from ) Tj ET Q q 0 0 0 rg BT 526.17 581.10 Td (fields ) Tj ET Q q 0 0 0 rg BT 550.86 581.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (flood ) Tj ET Q q 0 0 0 rg BT 72.71 569.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 91.75 569.10 Td (even ) Tj ET Q q 0 0 0 rg BT 112.73 569.10 Td (after ) Tj ET Q q 0 0 0 rg BT 133.15 569.10 Td (a ) Tj ET Q q 0 0 0 rg BT 139.70 569.10 Td (field ) Tj ET Q q 0 0 0 rg BT 160.12 569.10 Td (has ) Tj ET Q q 0 0 0 rg BT 175.56 569.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 205.43 569.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 242.79 569.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 287.11 569.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 323.10 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 333.53 569.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 375.63 569.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 404.38 569.10 Td (will ) Tj ET Q q 0 0 0 rg BT 422.04 569.10 Td (usually ) Tj ET Q q 0 0 0 rg BT 453.03 569.10 Td (be ) Tj ET Q q 0 0 0 rg BT 464.57 569.10 Td (required ) Tj ET Q q 0 0 0 rg BT 499.99 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 509.87 569.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 530.86 569.10 Td (develop ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 557.10 Td (field.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 533.10 Td (Recognition ) Tj ET Q q 0 0 0 rg BT 120.98 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 131.68 533.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 142.05 533.10 Td (oved ) Tj ET Q q 0 0 0 rg BT 164.42 533.10 Td (Reserves.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.68 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.06 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 209.43 533.10 Td (In ) Tj ET Q q 0 0 0 rg BT 220.13 533.10 Td (order ) Tj ET Q q 0 0 0 rg BT 243.60 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 253.75 533.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 294.99 533.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 325.13 533.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 356.38 533.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 369.31 533.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 406.94 533.10 Td (we ) Tj ET Q q 0 0 0 rg BT 420.97 533.10 Td (must ) Tj ET Q q 0 0 0 rg BT 442.79 533.10 Td (either ) Tj ET Q q 0 0 0 rg BT 467.93 533.10 Td (demonstrate ) Tj ET Q q 0 0 0 rg BT 519.17 533.10 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 86.94 521.10 Td (from ) Tj ET Q q 0 0 0 rg BT 108.82 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.48 521.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 154.80 521.10 Td (process ) Tj ET Q q 0 0 0 rg BT 187.23 521.10 Td (or ) Tj ET Q q 0 0 0 rg BT 198.01 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 212.67 521.10 Td (field ) Tj ET Q q 0 0 0 rg BT 233.44 521.10 Td (must ) Tj ET Q q 0 0 0 rg BT 255.33 521.10 Td (be ) Tj ET Q q 0 0 0 rg BT 267.21 521.10 Td (analogous ) Tj ET Q q 0 0 0 rg BT 310.20 521.10 Td (to ) Tj ET Q q 0 0 0 rg BT 320.42 521.10 Td (an ) Tj ET Q q 0 0 0 rg BT 332.31 521.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 366.41 521.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 397.73 521.10 Td (flood.� ) Tj ET Q q 0 0 0 rg BT 426.11 521.10 Td (The ) Tj ET Q q 0 0 0 rg BT 444.10 521.10 Td (magnitude ) Tj ET Q q 0 0 0 rg BT 488.75 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 499.53 521.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 529.74 521.10 Td (reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (that ) Tj ET Q q 0 0 0 rg BT 66.84 509.10 Td (we ) Tj ET Q q 0 0 0 rg BT 80.85 509.10 Td (can ) Tj ET Q q 0 0 0 rg BT 97.07 509.10 Td (book ) Tj ET Q q 0 0 0 rg BT 119.42 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 129.54 509.10 Td (any ) Tj ET Q q 0 0 0 rg BT 146.33 509.10 Td (given ) Tj ET Q q 0 0 0 rg BT 170.89 509.10 Td (year ) Tj ET Q q 0 0 0 rg BT 190.44 509.10 Td (will ) Tj ET Q q 0 0 0 rg BT 208.35 509.10 Td (depend ) Tj ET Q q 0 0 0 rg BT 239.57 509.10 Td (on ) Tj ET Q q 0 0 0 rg BT 251.91 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 267.59 509.10 Td (progress ) Tj ET Q q 0 0 0 rg BT 303.82 509.10 Td (with ) Tj ET Q q 0 0 0 rg BT 323.94 509.10 Td (new ) Tj ET Q q 0 0 0 rg BT 342.95 509.10 Td (floods, ) Tj ET Q q 0 0 0 rg BT 372.80 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 387.36 509.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 415.82 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 426.49 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 441.06 509.10 Td (production ) Tj ET Q q 0 0 0 rg BT 486.73 509.10 Td (response ) Tj ET Q q 0 0 0 rg BT 524.07 509.10 Td (from ) Tj ET Q q 0 0 0 rg BT 545.85 509.10 Td (new ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (floods ) Tj ET Q q 0 0 0 rg BT 77.42 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 94.79 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.93 497.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 163.38 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 174.63 497.10 Td (our ) Tj ET Q q 0 0 0 rg BT 190.89 497.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 225.48 497.10 Td (floods. ) Tj ET Q q 0 0 0 rg BT 255.90 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 258.61 497.10 Td (T) Tj ET Q q 0 0 0 rg BT 264.02 497.10 Td (ypically) Tj ET Q q 0 0 0 rg BT 295.59 497.10 Td (, ) Tj ET Q q 0 0 0 rg BT 301.01 497.10 Td (a ) Tj ET Q q 0 0 0 rg BT 308.38 497.10 Td (high ) Tj ET Q q 0 0 0 rg BT 329.08 497.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 375.30 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 386.56 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.70 497.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 439.62 497.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 475.30 497.10 Td (for ) Tj ET Q q 0 0 0 rg BT 489.88 497.10 Td (a ) Tj ET Q q 0 0 0 rg BT 497.25 497.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 529.04 497.10 Td (field ) Tj ET Q q 0 0 0 rg BT 550.29 497.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 95.86 485.10 Td (when ) Tj ET Q q 0 0 0 rg BT 120.02 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 126.96 485.10 Td (production ) Tj ET Q q 0 0 0 rg BT 172.79 485.10 Td (response ) Tj ET Q q 0 0 0 rg BT 210.28 485.10 Td (is ) Tj ET Q q 0 0 0 rg BT 219.45 485.10 Td (initially ) Tj ET Q q 0 0 0 rg BT 253.05 485.10 Td (observed, ) Tj ET Q q 0 0 0 rg BT 294.15 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 311.09 485.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 350.79 485.10 Td (only ) Tj ET Q q 0 0 0 rg BT 371.07 485.10 Td (modest ) Tj ET Q q 0 0 0 rg BT 402.46 485.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 437.17 485.10 Td (are ) Tj ET Q q 0 0 0 rg BT 451.87 485.10 Td (made ) Tj ET Q q 0 0 0 rg BT 476.03 485.10 Td (thereafter) Tj ET Q q 0 0 0 rg BT 513.78 485.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 461.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 77.87 461.10 Td (oduction ) Tj ET Q q 0 0 0 rg BT 118.01 461.10 Td (Rates.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.39 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.30 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 150.00 461.10 Td (The ) Tj ET Q q 0 0 0 rg BT 168.45 461.10 Td (production ) Tj ET Q q 0 0 0 rg BT 214.69 461.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 232.58 461.10 Td (at ) Tj ET Q q 0 0 0 rg BT 242.71 461.10 Td (a ) Tj ET Q q 0 0 0 rg BT 250.06 461.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 281.84 461.10 Td (flood ) Tj ET Q q 0 0 0 rg BT 305.85 461.10 Td (can ) Tj ET Q q 0 0 0 rg BT 322.64 461.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 343.32 461.10 Td (from ) Tj ET Q q 0 0 0 rg BT 365.67 461.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 396.89 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 407.58 461.10 Td (quarter) Tj ET Q q 0 0 0 rg BT 435.49 461.10 Td (, ) Tj ET Q q 0 0 0 rg BT 440.90 461.10 Td (as ) Tj ET Q q 0 0 0 rg BT 452.14 461.10 Td (a ) Tj ET Q q 0 0 0 rg BT 459.49 461.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 491.27 461.10 Td (field�) Tj ET Q q 0 0 0 rg BT 512.37 461.10 Td (s ) Tj ET Q q 0 0 0 rg BT 519.17 461.10 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (may ) Tj ET Q q 0 0 0 rg BT 69.05 449.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 104.14 449.10 Td (rapidly ) Tj ET Q q 0 0 0 rg BT 134.80 449.10 Td (when ) Tj ET Q q 0 0 0 rg BT 158.79 449.10 Td (wells ) Tj ET Q q 0 0 0 rg BT 182.23 449.10 Td (respond ) Tj ET Q q 0 0 0 rg BT 216.23 449.10 Td (to ) Tj ET Q q 0 0 0 rg BT 226.34 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.89 449.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 254.78 447.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.03 449.10 Td (, ) Tj ET Q q 0 0 0 rg BT 262.87 449.10 Td (plateau ) Tj ET Q q 0 0 0 rg BT 294.07 449.10 Td (temporarily) Tj ET Q q 0 0 0 rg BT 340.07 449.10 Td (, ) Tj ET Q q 0 0 0 rg BT 344.91 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 361.68 449.10 Td (then ) Tj ET Q q 0 0 0 rg BT 381.23 449.10 Td (resume ) Tj ET Q q 0 0 0 rg BT 412.44 449.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 443.11 449.10 Td (as ) Tj ET Q q 0 0 0 rg BT 453.77 449.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 496.09 449.10 Td (areas ) Tj ET Q q 0 0 0 rg BT 518.97 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 529.63 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 544.18 449.10 Td (field ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.92 437.10 Td (developed.��During ) Tj ET Q q 0 0 0 rg BT 145.05 437.10 Td (a ) Tj ET Q q 0 0 0 rg BT 152.71 437.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 184.79 437.10 Td (flood ) Tj ET Q q 0 0 0 rg BT 209.11 437.10 Td (life ) Tj ET Q q 0 0 0 rg BT 225.65 437.10 Td (cycle, ) Tj ET Q q 0 0 0 rg BT 252.45 437.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 283.98 437.10 Td (capacity ) Tj ET Q q 0 0 0 rg BT 320.51 437.10 Td (is ) Tj ET Q q 0 0 0 rg BT 330.39 437.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 371.35 437.10 Td (from ) Tj ET Q q 0 0 0 rg BT 394.00 437.10 Td (time ) Tj ET Q q 0 0 0 rg BT 414.99 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 425.98 437.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 449.47 437.10 Td (which ) Tj ET Q q 0 0 0 rg BT 477.12 437.10 Td (occasionally ) Tj ET Q q 0 0 0 rg BT 530.31 437.10 Td (requires ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 93.03 425.10 Td (shutdowns ) Tj ET Q q 0 0 0 rg BT 138.25 425.10 Td (during ) Tj ET Q q 0 0 0 rg BT 166.79 425.10 Td (installation, ) Tj ET Q q 0 0 0 rg BT 216.16 425.10 Td (thereby ) Tj ET Q q 0 0 0 rg BT 248.58 425.10 Td (causing ) Tj ET Q q 0 0 0 rg BT 281.56 425.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 325.09 425.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 360.29 425.10 Td (in ) Tj ET Q q 0 0 0 rg BT 370.50 425.10 Td (production.��) Tj ET Q q 0 0 0 rg BT 421.14 425.10 Td (W) Tj ET Q q 0 0 0 rg BT 429.78 425.10 Td (e ) Tj ET Q q 0 0 0 rg BT 436.65 425.10 Td (also ) Tj ET Q q 0 0 0 rg BT 455.20 425.10 Td (find ) Tj ET Q q 0 0 0 rg BT 473.74 425.10 Td (it ) Tj ET Q q 0 0 0 rg BT 481.73 425.10 Td (dif) Tj ET Q q 0 0 0 rg BT 492.66 425.10 Td (ficult ) Tj ET Q q 0 0 0 rg BT 516.19 425.10 Td (to ) Tj ET Q q 0 0 0 rg BT 526.41 425.10 Td (precisely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (predict ) Tj ET Q q 0 0 0 rg BT 80.45 413.10 Td (when ) Tj ET Q q 0 0 0 rg BT 105.29 413.10 Td (any ) Tj ET Q q 0 0 0 rg BT 122.92 413.10 Td (given ) Tj ET Q q 0 0 0 rg BT 148.32 413.10 Td (well ) Tj ET Q q 0 0 0 rg BT 168.72 413.10 Td (will ) Tj ET Q q 0 0 0 rg BT 187.46 413.10 Td (respond ) Tj ET Q q 0 0 0 rg BT 222.31 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 233.27 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.67 413.10 Td (injected ) Tj ET Q q 0 0 0 rg BT 283.51 413.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 297.40 411.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.65 413.10 Td (, ) Tj ET Q q 0 0 0 rg BT 306.33 413.10 Td (as ) Tj ET Q q 0 0 0 rg BT 317.85 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 333.25 413.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 347.14 411.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.39 413.10 Td ( ) Tj ET Q q 0 0 0 rg BT 353.58 413.10 Td (seldom ) Tj ET Q q 0 0 0 rg BT 385.65 413.10 Td (travels ) Tj ET Q q 0 0 0 rg BT 415.49 413.10 Td (through ) Tj ET Q q 0 0 0 rg BT 449.78 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 465.19 413.10 Td (rock ) Tj ET Q q 0 0 0 rg BT 486.14 413.10 Td (consistently ) Tj ET Q q 0 0 0 rg BT 537.10 413.10 Td (due ) Tj ET Q q 0 0 0 rg BT 554.72 413.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (heterogeneity ) Tj ET Q q 0 0 0 rg BT 107.25 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 118.35 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 133.89 401.10 Td (oil-bearing ) Tj ET Q q 0 0 0 rg BT 181.09 401.10 Td (formations.��) Tj ET Q q 0 0 0 rg BT 231.74 401.10 Td (W) Tj ET Q q 0 0 0 rg BT 240.78 401.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 254.66 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.20 401.10 Td (low ) Tj ET Q q 0 0 0 rg BT 288.53 401.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 302.41 401.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 329.62 401.10 Td (over ) Tj ET Q q 0 0 0 rg BT 350.71 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.25 401.10 Td (past ) Tj ET Q q 0 0 0 rg BT 385.69 401.10 Td (several ) Tj ET Q q 0 0 0 rg BT 417.33 401.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 444.26 401.10 Td (our ) Tj ET Q q 0 0 0 rg BT 460.91 401.10 Td (pace ) Tj ET Q q 0 0 0 rg BT 482.56 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 494.21 401.10 Td (development ) Tj ET Q q 0 0 0 rg BT 549.19 401.10 Td (has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 88.84 389.10 Td (slowed, ) Tj ET Q q 0 0 0 rg BT 121.81 389.10 Td (thereby ) Tj ET Q q 0 0 0 rg BT 153.94 389.10 Td (leading ) Tj ET Q q 0 0 0 rg BT 185.52 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 195.44 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 202.01 389.10 Td (less ) Tj ET Q q 0 0 0 rg BT 219.16 389.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 261.29 389.10 Td (growth ) Tj ET Q q 0 0 0 rg BT 291.76 389.10 Td (pattern. ) Tj ET Q q 0 0 0 rg BT 324.17 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 326.15 389.10 Td (W) Tj ET Q q 0 0 0 rg BT 334.79 389.10 Td (e ) Tj ET Q q 0 0 0 rg BT 341.37 389.10 Td (find ) Tj ET Q q 0 0 0 rg BT 359.62 389.10 Td (all ) Tj ET Q q 0 0 0 rg BT 371.76 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 382.23 389.10 Td (these ) Tj ET Q q 0 0 0 rg BT 404.92 389.10 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 454.27 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 464.19 389.10 Td (be ) Tj ET Q q 0 0 0 rg BT 475.77 389.10 Td (normal, ) Tj ET Q q 0 0 0 rg BT 508.73 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 525.31 389.10 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 78.57 377.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 92.11 377.10 Td (production ) Tj ET Q q 0 0 0 rg BT 138.41 377.10 Td (at ) Tj ET Q q 0 0 0 rg BT 148.60 377.10 Td (a ) Tj ET Q q 0 0 0 rg BT 156.02 377.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 187.87 377.10 Td (field ) Tj ET Q q 0 0 0 rg BT 209.17 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 219.93 377.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 255.66 377.10 Td (over ) Tj ET Q q 0 0 0 rg BT 276.40 377.10 Td (time ) Tj ET Q q 0 0 0 rg BT 297.16 377.10 Td (until ) Tj ET Q q 0 0 0 rg BT 318.47 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 333.66 377.10 Td (field ) Tj ET Q q 0 0 0 rg BT 354.96 377.10 Td (is ) Tj ET Q q 0 0 0 rg BT 364.61 377.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 386.48 377.10 Td (developed, ) Tj ET Q q 0 0 0 rg BT 433.05 377.10 Td (albeit ) Tj ET Q q 0 0 0 rg BT 458.24 377.10 Td (sometimes ) Tj ET Q q 0 0 0 rg BT 503.99 377.10 Td (in ) Tj ET Q q 0 0 0 rg BT 514.74 377.10 Td (inconsistent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (patterns.��) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 341.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 113.43 341.10 Td (Costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.27 341.10 Td ( ) Tj ET Q q 0 0 0 rg BT 141.31 341.10 Td ( ) Tj ET Q q 0 0 0 rg BT 143.21 341.10 Td (T) Tj ET Q q 0 0 0 rg BT 148.62 341.10 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 176.76 341.10 Td (projects ) Tj ET Q q 0 0 0 rg BT 210.46 341.10 Td (may ) Tj ET Q q 0 0 0 rg BT 229.73 341.10 Td (be ) Tj ET Q q 0 0 0 rg BT 241.21 341.10 Td (more ) Tj ET Q q 0 0 0 rg BT 263.80 341.10 Td (expensive ) Tj ET Q q 0 0 0 rg BT 305.83 341.10 Td (to ) Tj ET Q q 0 0 0 rg BT 315.66 341.10 Td (operate ) Tj ET Q q 0 0 0 rg BT 347.13 341.10 Td (than ) Tj ET Q q 0 0 0 rg BT 366.39 341.10 Td (traditional ) Tj ET Q q 0 0 0 rg BT 409.53 341.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 444.36 341.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 488.06 341.10 Td (because ) Tj ET Q q 0 0 0 rg BT 521.75 341.10 Td (of ) Tj ET Q q 0 0 0 rg BT 532.13 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 546.39 341.10 Td (cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.59 329.10 Td (injecting ) Tj ET Q q 0 0 0 rg BT 98.34 329.10 Td (and ) Tj ET Q q 0 0 0 rg BT 115.54 329.10 Td (recycling ) Tj ET Q q 0 0 0 rg BT 155.50 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.47 329.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 184.36 327.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 187.61 329.10 Td ( ) Tj ET Q q 0 0 0 rg BT 190.37 329.10 Td (\(primarily ) Tj ET Q q 0 0 0 rg BT 233.67 329.10 Td (due ) Tj ET Q q 0 0 0 rg BT 250.87 329.10 Td (to ) Tj ET Q q 0 0 0 rg BT 261.41 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 276.38 329.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 295.25 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.34 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 321.31 329.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 335.21 327.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.46 329.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.21 329.10 Td (and ) Tj ET Q q 0 0 0 rg BT 358.41 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.39 329.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 418.36 329.10 Td (ener) Tj ET Q q 0 0 0 rg BT 435.38 329.10 Td (gy ) Tj ET Q q 0 0 0 rg BT 448.14 329.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 503.10 329.10 Td (to ) Tj ET Q q 0 0 0 rg BT 513.64 329.10 Td (re-compress ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.39 317.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 78.28 315.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.53 317.10 Td ( ) Tj ET Q q 0 0 0 rg BT 84.20 317.10 Td (back ) Tj ET Q q 0 0 0 rg BT 105.75 317.10 Td (into ) Tj ET Q q 0 0 0 rg BT 123.98 317.10 Td (a ) Tj ET Q q 0 0 0 rg BT 131.10 317.10 Td (near) Tj ET Q q 0 0 0 rg BT 148.10 317.10 Td (-liquid ) Tj ET Q q 0 0 0 rg BT 177.44 317.10 Td (state ) Tj ET Q q 0 0 0 rg BT 198.44 317.10 Td (for ) Tj ET Q q 0 0 0 rg BT 212.77 317.10 Td (re-injection ) Tj ET Q q 0 0 0 rg BT 261.54 317.10 Td (purposes\).��) Tj ET Q q 0 0 0 rg BT 307.74 317.10 Td (The ) Tj ET Q q 0 0 0 rg BT 325.96 317.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 348.63 317.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.63 317.10 Td (our ) Tj ET Q q 0 0 0 rg BT 375.64 317.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 389.53 315.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.78 317.10 Td ( ) Tj ET Q q 0 0 0 rg BT 395.45 317.10 Td (and ) Tj ET Q q 0 0 0 rg BT 412.56 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 427.45 317.10 Td (electricity ) Tj ET Q q 0 0 0 rg BT 470.10 317.10 Td (required ) Tj ET Q q 0 0 0 rg BT 506.09 317.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.54 317.10 Td (recycle ) Tj ET Q q 0 0 0 rg BT 548.08 317.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (inject ) Tj ET Q q 0 0 0 rg BT 74.07 305.10 Td (this ) Tj ET Q q 0 0 0 rg BT 90.87 305.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 104.76 303.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.01 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 110.37 305.10 Td (comprise ) Tj ET Q q 0 0 0 rg BT 149.38 305.10 Td (nearly ) Tj ET Q q 0 0 0 rg BT 176.72 305.10 Td (half ) Tj ET Q q 0 0 0 rg BT 194.62 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.30 305.10 Td (our ) Tj ET Q q 0 0 0 rg BT 220.99 305.10 Td (typical ) Tj ET Q q 0 0 0 rg BT 250.56 305.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 281.78 305.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 321.90 305.10 Td (expenses.��Since ) Tj ET Q q 0 0 0 rg BT 390.07 305.10 Td (these ) Tj ET Q q 0 0 0 rg BT 412.97 305.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 435.33 305.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 455.45 305.10 Td (along ) Tj ET Q q 0 0 0 rg BT 480.02 305.10 Td (with ) Tj ET Q q 0 0 0 rg BT 500.16 305.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 548.06 305.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 99.21 293.10 Td (electricity ) Tj ET Q q 0 0 0 rg BT 141.69 293.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 170.58 293.10 Td (they ) Tj ET Q q 0 0 0 rg BT 190.31 293.10 Td (are ) Tj ET Q q 0 0 0 rg BT 205.02 293.10 Td (highly ) Tj ET Q q 0 0 0 rg BT 233.09 293.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 267.80 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 284.75 293.10 Td (will ) Tj ET Q q 0 0 0 rg BT 302.82 293.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 338.08 293.10 Td (in ) Tj ET Q q 0 0 0 rg BT 348.37 293.10 Td (a ) Tj ET Q q 0 0 0 rg BT 355.32 293.10 Td (high-commodity-price ) Tj ET Q q 0 0 0 rg BT 447.80 293.10 Td (environment ) Tj ET Q q 0 0 0 rg BT 500.85 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 517.80 293.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 554.72 293.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.49 281.10 Td (low-price ) Tj ET Q q 0 0 0 rg BT 97.36 281.10 Td (environment.��Most ) Tj ET Q q 0 0 0 rg BT 178.52 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 189.41 281.10 Td (our ) Tj ET Q q 0 0 0 rg BT 205.29 281.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 219.19 279.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.43 281.10 Td ( ) Tj ET Q q 0 0 0 rg BT 224.99 281.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 265.31 281.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 287.86 281.10 Td (are ) Tj ET Q q 0 0 0 rg BT 302.63 281.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 341.27 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 351.60 281.10 Td (our ) Tj ET Q q 0 0 0 rg BT 367.49 281.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 398.92 281.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 412.03 281.10 Td (fields ) Tj ET Q q 0 0 0 rg BT 436.80 281.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.79 281.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 491.32 281.10 Td (as ) Tj ET Q q 0 0 0 rg BT 502.21 281.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 524.75 281.10 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 88.22 269.10 Td (\(following ) Tj ET Q q 0 0 0 rg BT 133.06 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 147.90 269.10 Td (commencement ) Tj ET Q q 0 0 0 rg BT 213.83 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 224.78 269.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 256.27 269.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 269.45 269.10 Td (production\) ) Tj ET Q q 0 0 0 rg BT 318.73 269.10 Td (at ) Tj ET Q q 0 0 0 rg BT 328.57 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 343.41 269.10 Td (time ) Tj ET Q q 0 0 0 rg BT 363.80 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.64 269.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 392.53 267.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.78 269.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.40 269.10 Td (is ) Tj ET Q q 0 0 0 rg BT 407.70 269.10 Td (injected. ) Tj ET Q q 0 0 0 rg BT 444.47 269.10 Td ( ) Tj ET Q q 0 0 0 rg BT 446.90 269.10 Td (These ) Tj ET Q q 0 0 0 rg BT 473.40 269.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 496.02 269.10 Td (have ) Tj ET Q q 0 0 0 rg BT 517.52 269.10 Td (historically ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (represented ) Tj ET Q q 0 0 0 rg BT 97.23 257.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 156.63 257.10 Td (20% ) Tj ET Q q 0 0 0 rg BT 176.61 257.10 Td (to ) Tj ET Q q 0 0 0 rg BT 186.03 257.10 Td (25% ) Tj ET Q q 0 0 0 rg BT 206.00 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 215.98 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.84 257.10 Td (total ) Tj ET Q q 0 0 0 rg BT 249.26 257.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 288.67 257.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 310.31 257.10 Td (for ) Tj ET Q q 0 0 0 rg BT 323.62 257.10 Td (our ) Tj ET Q q 0 0 0 rg BT 338.59 257.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 369.11 257.10 Td (operations.��Since ) Tj ET Q q 0 0 0 rg BT 442.12 257.10 Td (we ) Tj ET Q q 0 0 0 rg BT 455.43 257.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 489.28 257.10 Td (all ) Tj ET Q q 0 0 0 rg BT 500.92 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 510.89 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 524.75 257.10 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 71.73 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 81.74 245.10 Td (produce ) Tj ET Q q 0 0 0 rg BT 116.18 245.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.85 245.10 Td (inject ) Tj ET Q q 0 0 0 rg BT 157.29 245.10 Td (our ) Tj ET Q q 0 0 0 rg BT 172.85 245.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 186.75 243.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.00 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 192.23 245.10 Td (\(following ) Tj ET Q q 0 0 0 rg BT 236.68 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 251.12 245.10 Td (commencement ) Tj ET Q q 0 0 0 rg BT 316.66 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.22 245.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 358.33 245.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 371.11 245.10 Td (production\), ) Tj ET Q q 0 0 0 rg BT 422.50 245.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 462.50 245.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 484.73 245.10 Td (per ) Tj ET Q q 0 0 0 rg BT 499.73 245.10 Td (barrel ) Tj ET Q q 0 0 0 rg BT 525.27 245.10 Td (for ) Tj ET Q q 0 0 0 rg BT 539.17 245.10 Td (a ) Tj ET Q 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Tj ET Q endstream endobj 93 0 obj <> endobj 94 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) 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gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 389.75 m 424 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 387.75 m 424 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 402.75 m 493 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 389.75 m 493 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 387.75 m 493 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 402.75 m 562 402.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 389.75 m 562 389.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 387.75 m 562 387.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 118.75 m 424 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 118.75 m 493 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 118.75 m 562 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 118.75 m 424 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 105.75 m 424 105.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 103.75 m 424 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 118.75 m 493 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 105.75 m 493 105.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 103.75 m 493 103.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 118.75 m 562 118.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 105.75 m 562 105.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 103.75 m 562 103.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 645.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 412.70 645.21 Td (Y) Tj ET Q q 0 0 0 rg BT 418.75 645.21 Td (ear Ended December 31,) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 51.50 631.20 Td (In thousands, except per shar) Tj ET Q q 0 0 0 rg BT 157.40 631.20 Td (e and unit data) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 382.00 631.21 Td (2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 451.00 631.21 Td (2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 520.00 631.21 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 617.20 Td (Operating r) Tj ET Q q 0 0 0 rg BT 97.16 617.20 Td (esults) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.00 617.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 617.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 617.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 603.21 Td (Net income \(loss\)) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 127.48 607.29 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 603.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.25 603.21 Td (322,698) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 603.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 460.25 603.21 Td (163,152) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 603.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 603.21 Td (\(976,177) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 603.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 589.21 Td (Net income \(loss\) per common share � basic) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 223.70 593.29 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.75 589.21 Td (0.75) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.75 589.21 Td (0.42) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.75 589.21 Td (\(2.61) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 589.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 575.21 Td (Net income \(loss\) per common share � diluted) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 230.21 579.29 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.75 575.21 Td (0.71) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.75 575.21 Td (0.41) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.75 575.21 Td (\(2.61) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 575.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 561.21 Td (Net cash provided by operating activities) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.25 561.21 Td (529,685) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 460.25 561.21 Td (267,143) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 561.21 Td (219,223) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 547.20 Td (A) Tj ET Q q 0 0 0 rg BT 57.67 547.20 Td (verage daily pr) Tj ET Q q 0 0 0 rg BT 115.24 547.20 Td (oduction volumes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 547.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 547.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 533.21 Td (Bbls/d) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 533.21 Td (58,532) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.75 533.21 Td (58,410) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 533.21 Td (61,440) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 519.21 Td (Mcf/d) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 519.21 Td (10,854) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.75 519.21 Td (1) Tj ET Q q 0 0 0 rg BT 469.25 519.21 Td (1,329) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 519.21 Td (15,378) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 505.21 Td (BOE/d) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 505.21 Td (60,341) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.75 505.21 Td (60,298) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 505.21 Td (64,003) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 491.20 Td (Operating r) Tj ET Q q 0 0 0 rg BT 97.16 491.20 Td (evenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 491.21 Td () Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 491.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 491.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 477.21 Td (Oil sales) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 477.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.50 477.21 Td (1,412,358) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 477.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.50 477.21 Td (1,079,703) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 477.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 477.21 Td (924,618) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 463.21 Td (Natural gas sales) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 463.21 Td (10,231) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.25 463.21 Td (9,963) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 463.21 Td (1) Tj ET Q q 0 0 0 rg BT 538.25 463.21 Td (1,133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 75.50 449.21 Td (T) Tj ET Q q 0 0 0 rg BT 80.37 449.21 Td (otal oil and natural gas sales) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 449.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 384.50 449.21 Td (1,422,589) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 449.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 453.50 449.21 Td (1,089,666) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 449.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 449.21 Td (935,751) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 435.20 Td (Commodity derivative contracts) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 175.47 439.28 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 435.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 435.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 435.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 421.21 Td (Receipt \(payment\) on settlements of commodity d) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 243.96 421.21 Td (erivatives) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 421.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.25 421.21 Td (\(175,248) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.50 421.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 421.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.75 421.21 Td (\(47,795) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.50 421.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 421.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 421.21 Td (84,181) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 407.21 Td (Noncash fair value gains \(losses\) on commodity derivatives) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 278.70 411.29 Td (\(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.25 407.21 Td (196,335) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.75 407.21 Td (\(29,781) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.50 407.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 407.21 Td (\(212,125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 407.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 75.50 393.21 Td (Commodity derivatives income \(expense\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 393.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 393.21 Td (21,087) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 393.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 461.75 393.21 Td (\(77,576) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.50 393.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 393.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 526.25 393.21 Td (\(127,944) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 393.21 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 379.20 Td (Unit prices � excluding impact of derivative settlements) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 379.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 379.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 379.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 365.21 Td (Oil price per Bbl) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 365.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.25 365.21 Td (66.1) Tj ET Q q 0 0 0 rg BT 416.00 365.21 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 365.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.25 365.21 Td (50.64) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 365.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 365.21 Td (41.12) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 351.21 Td (Natural gas price per Mcf) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.75 351.21 Td (2.58) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.75 351.21 Td (2.41) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 351.21 Td (1.98) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 337.20 Td (Unit prices � including impact of derivative settlements) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 263.22 341.28 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 337.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 337.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 323.21 Td (Oil price per Bbl) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 323.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.25 323.21 Td (57.91) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 323.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.25 323.21 Td (48.40) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 323.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 323.21 Td (44.86) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 309.21 Td (Natural gas price per Mcf) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.75 309.21 Td (2.58) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.75 309.21 Td (2.41) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 309.21 Td (1.98) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 295.20 Td (Oil and natural gas operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 295.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 295.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 281.21 Td (Lease operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 281.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.25 281.21 Td (489,720) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 281.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 460.25 281.21 Td (447,799) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 281.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 281.21 Td (414,937) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 267.21 Td (Marketing expenses, net of third-party purchases, and plant operating ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 258.21 Td (expenses) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 95.99 262.29 Td (\(4\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 258.21 Td (39,147) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.75 258.21 Td (39,617) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 258.21 Td (45,151) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 244.21 Td (Production and ad valorem taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 244.21 Td (96,589) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 464.75 244.21 Td (79,198) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 244.21 Td (68,878) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 230.20 Td (Oil and natural gas operating r) Tj ET Q q 0 0 0 rg BT 171.10 230.20 Td (evenues and expenses per) Tj ET Q q 0 0 0 rg BT 268.69 230.20 Td ( BOE) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 230.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 230.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 216.21 Td (Oil and natural gas revenues) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 216.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.25 216.21 Td (64.59) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 216.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.25 216.21 Td (49.51) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.50 216.21 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 216.21 Td (39.95) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 202.21 Td (Lease operating expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.25 202.21 Td (22.24) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 469.25 202.21 Td (20.35) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 538.25 202.21 Td (17.71) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 188.21 Td (Marketing expenses, net of third-party purchases, and plant operating ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 179.21 Td (expenses) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 95.99 183.29 Td (\(4\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.75 179.21 Td (2.27) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.75 179.21 Td (1.80) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 179.21 Td (1.92) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 165.21 Td (Production and ad valorem taxes) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.75 165.21 Td (4.39) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 473.75 165.21 Td (3.60) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 542.75 165.21 Td (2.94) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 51.50 151.20 Td (CO) Tj ET Q BT /F2 9.00 Tf ET BT /F2 5.85 Tf ET q 0 0 0 rg BT 65.00 149.92 Td (2) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 67.92 151.20 Td ( sour) Tj ET Q q 0 0 0 rg BT 87.01 151.20 Td (ces � r) Tj ET Q q 0 0 0 rg BT 111.34 151.20 Td (evenues and expenses) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 430.50 151.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.00 151.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 63.50 137.21 Td (CO) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 76.00 135.92 Td (2) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 78.93 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0 0 0 rg BT 128.07 650.10 Td (exclude ) Tj ET Q q 0 0 0 rg BT 162.92 650.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.89 650.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 209.86 650.10 Td (of ) Tj ET Q q 0 0 0 rg BT 221.95 650.10 Td (settlements ) Tj ET Q q 0 0 0 rg BT 270.70 650.10 Td (on ) Tj ET Q q 0 0 0 rg BT 284.45 650.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 333.76 650.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 381.39 650.10 Td (during ) Tj ET Q q 0 0 0 rg BT 411.26 650.10 Td (the ) Tj ET Q q 0 0 0 rg BT 427.23 650.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 459.03 650.10 Td (which ) Tj ET Q q 0 0 0 rg BT 487.23 650.10 Td (were ) Tj ET Q q 0 0 0 rg BT 510.42 650.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 552.50 650.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 638.10 Td (settlements ) Tj ET Q q 0 0 0 rg BT 114.96 638.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.75 638.10 Td ($175.2 ) Tj ET Q q 0 0 0 rg BT 155.71 638.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 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10.00 Tf ET q 0 0 0 rg BT 67.50 626.10 Td (on ) Tj ET Q q 0 0 0 rg BT 80.00 626.10 Td (settlements ) Tj ET Q q 0 0 0 rg BT 127.49 626.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.32 626.10 Td ($84.2 ) Tj ET Q q 0 0 0 rg BT 163.33 626.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.22 626.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.72 626.10 Td (for ) Tj ET Q q 0 0 0 rg BT 208.88 626.10 Td (the ) Tj ET Q q 0 0 0 rg BT 223.60 626.10 Td (year ) Tj ET Q q 0 0 0 rg BT 243.31 626.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 269.69 626.10 Td (December ) Tj ET Q q 0 0 0 rg BT 313.27 626.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.27 626.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.27 626.10 Td (. ) Tj ET Q q 0 0 0 rg BT 353.27 626.10 Td ( ) Tj ET Q q 0 0 0 rg BT 355.59 626.10 Td (W) Tj ET Q q 0 0 0 rg BT 364.23 626.10 Td (e ) Tj ET Q q 0 0 0 rg BT 371.17 626.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 402.55 626.10 Td (that ) Tj ET Q q 0 0 0 rg BT 420.04 626.10 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 515.10 Td (\(4\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 515.10 Td (Represents ) Tj ET Q q 0 0 0 rg BT 114.05 515.10 Td (�Marketing ) Tj ET Q q 0 0 0 rg BT 162.81 515.10 Td (and ) Tj ET Q q 0 0 0 rg BT 179.91 515.10 Td (plant ) Tj ET Q q 0 0 0 rg BT 202.58 515.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 243.01 515.10 Td (expenses� ) Tj ET Q q 0 0 0 rg BT 286.22 515.10 Td (as ) Tj ET Q q 0 0 0 rg BT 297.21 515.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 338.20 515.10 Td (in ) Tj ET Q q 0 0 0 rg BT 348.65 515.10 Td (the ) Tj ET Q q 0 0 0 rg BT 363.53 515.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 418.97 515.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 465.52 515.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.52 515.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 523.07 515.10 Td (excluding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 503.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 106.10 503.10 Td (for ) Tj ET Q q 0 0 0 rg BT 120.26 503.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 162.19 503.10 Td (of ) Tj ET Q q 0 0 0 rg BT 173.02 503.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 186.07 503.10 Td (from ) Tj ET Q q 0 0 0 rg BT 208.01 503.10 Td (third ) Tj ET Q q 0 0 0 rg BT 229.40 503.10 Td (parties.) Tj ET Q endstream endobj 97 0 obj <> endobj 98 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) 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re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 431.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 431.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.00 431.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.00 431.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 431.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 431.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 403.75 151.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 201.00 403.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 205.00 403.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 403.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 305.00 403.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 403.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 403.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.00 403.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.00 403.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 403.75 50.00 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50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 305.00 347.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 347.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 347.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.00 347.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.00 347.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 347.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 347.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 319.75 151.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 201.00 319.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 205.00 319.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 319.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 305.00 319.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 319.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 319.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.00 319.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.00 319.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 319.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 319.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 291.75 151.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 201.00 291.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 205.00 291.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 291.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 305.00 291.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 291.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 291.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.00 291.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.00 291.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 291.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 291.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 263.75 151.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 201.00 263.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 205.00 263.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 263.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 305.00 263.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 263.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 263.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.00 263.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.00 263.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 263.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 263.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 235.75 151.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 201.00 235.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 205.00 235.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 235.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 305.00 235.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 235.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 235.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.00 235.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.00 235.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 235.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 235.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 207.75 151.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 201.00 207.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 205.00 207.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 207.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 305.00 207.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 207.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 207.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 409.00 207.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 413.00 207.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 207.75 50.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 207.75 50.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 664.75 m 255 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 664.75 m 305 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 664.75 m 355 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 664.75 m 405 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 664.75 m 409 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 664.75 m 463 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 664.75 m 513 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 664.75 m 563 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 664.75 m 255 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 650.75 m 255 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 664.75 m 305 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 650.75 m 305 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 664.75 m 355 664.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 650.75 m 355 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i 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650.75 m 463 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 627.75 m 463 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 650.75 m 513 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 627.75 m 513 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 650.75 m 563 650.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 627.75 m 563 627.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 627.75 m 409 613.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 613.75 m 409 599.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 599.75 m 409 585.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 585.75 m 409 571.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 571.75 m 409 557.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 557.75 m 409 543.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 543.75 m 409 529.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 529.75 m 409 515.75 l s 0 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[] 0 d 0 J 0 j 3 M 305 487.75 m 355 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 501.75 m 405 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 487.75 m 405 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 501.75 m 409 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 501.75 m 463 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 487.75 m 463 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 501.75 m 513 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 487.75 m 513 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 501.75 m 563 501.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 487.75 m 563 487.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 487.75 m 409 473.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 473.75 m 409 459.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 459.75 m 409 445.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 431.75 m 255 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 431.75 m 305 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 431.75 m 355 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 431.75 m 405 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 445.75 m 409 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 431.75 m 463 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 431.75 m 513 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 431.75 m 563 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 431.75 m 255 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 431.75 m 305 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 417.75 m 305 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 431.75 m 355 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 417.75 m 355 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 431.75 m 405 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 417.75 m 405 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 431.75 m 409 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 431.75 m 463 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 417.75 m 463 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 431.75 m 513 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 417.75 m 513 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 431.75 m 563 431.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 417.75 m 563 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 417.75 m 255 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 403.75 m 255 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 417.75 m 305 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 403.75 m 305 403.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 417.75 m 355 417.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i 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0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 413 319.75 m 463 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 319.75 m 513 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 319.75 m 563 319.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 319.75 m 409 305.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 305.75 m 409 291.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 409 291.75 m 409 277.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 277.75 m 255 277.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 205 263.75 m 255 263.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 277.75 m 305 277.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 263.75 m 305 263.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 277.75 m 355 277.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 305 263.75 m 355 263.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 355 277.75 m 405 277.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i 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192.75 m 463 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 207.75 m 513 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 194.75 m 513 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 192.75 m 513 192.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 207.75 m 563 207.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 194.75 m 563 194.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 192.75 m 563 192.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 669.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.95 669.21 Td (A) Tj ET Q q 0 0 0 rg BT 326.12 669.21 Td (verage Daily Production \(BOE/d\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 655.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 278.85 655.21 Td (2018 Quarters) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 440.20 655.21 Td (Y) Tj ET Q q 0 0 0 rg BT 446.25 655.21 Td (ear Ended December 31,) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 632.20 Td (Operating ) Tj ET Q q 0 0 0 rg BT 91.58 632.20 Td (Ar) Tj ET Q q 0 0 0 rg BT 100.25 632.20 Td (ea) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 221.20 641.21 Td (First) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 215.75 632.21 Td (Quarter) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 266.25 641.21 Td (Second) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 265.75 632.21 Td (Quarter) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.50 641.21 Td (Third) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 315.75 632.21 Td (Quarter) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 367.45 641.21 Td (Fourth) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.75 632.21 Td (Quarter) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 428.50 632.21 Td (2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 478.50 632.21 Td (2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 528.50 632.21 Td (2016) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 618.20 Td (T) Tj ET Q q 0 0 0 rg BT 58.09 618.20 Td (ertiary oil pr) Tj ET Q q 0 0 0 rg BT 107.08 618.20 Td (oduction) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 604.20 Td (Gulf Coast region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 590.21 Td (Delhi ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 590.21 Td (4,169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 590.21 Td (4,391) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 590.21 Td (4,383) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 590.21 Td (4,526) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 590.21 Td (4,368) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 590.21 Td (4,869) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 590.21 Td (4,155) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 576.21 Td (Hastings) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 576.21 Td (5,704) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 576.21 Td (5,716) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 576.21 Td (5,486) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 576.21 Td (5,480) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 576.21 Td (5,596) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 576.21 Td (4,830) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 576.21 Td (4,829) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 562.21 Td (Heidelber) Tj ET Q q 0 0 0 rg BT 93.90 562.21 Td (g) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 562.21 Td (4,445) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 562.21 Td (4,330) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 562.21 Td (4,376) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 562.21 Td (4,269) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 562.21 Td (4,355) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 562.21 Td (4,851) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 562.21 Td (5,128) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 548.21 Td (Oyster Bayou) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 548.21 Td (5,056) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 548.21 Td (4,961) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 548.21 Td (4,578) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 548.21 Td (4,785) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 548.21 Td (4,843) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 548.21 Td (5,007) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 548.21 Td (5,083) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 534.21 Td (T) Tj ET Q q 0 0 0 rg BT 63.84 534.21 Td (insley) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 534.21 Td (6,053) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 534.21 Td (5,755) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 534.21 Td (5,294) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 534.21 Td (5,033) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 534.21 Td (5,530) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 534.21 Td (6,430) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 534.21 Td (7,192) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 520.21 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 242.50 520.21 Td (57) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.00 520.21 Td (142) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.00 520.21 Td (240) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.00 520.21 Td (375) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.00 520.21 Td (205) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 520.21 Td (13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 520.21 Td (1) Tj ET Q q 0 0 0 rg BT 555.00 520.21 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 506.21 Td (Mature properties) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 122.73 510.29 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 506.21 Td (6,726) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 506.21 Td (6,725) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 506.21 Td (6,612) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 506.21 Td (6,748) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 506.21 Td (6,702) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 506.21 Td (7,078) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 506.21 Td (8,241) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 492.21 Td (T) Tj ET Q q 0 0 0 rg BT 69.68 492.21 Td (otal Gulf Coast region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.75 492.21 Td (32,210) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.75 492.21 Td (32,020) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.75 492.21 Td (30,969) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.75 492.21 Td (31,216) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.75 492.21 Td (31,599) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 492.21 Td (33,078) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 492.21 Td (34,639) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 478.20 Td (Rocky Mountain region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 464.21 Td (Bell Creek) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 464.21 Td (4,050) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 464.21 Td (4,010) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 464.21 Td (3,970) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 464.21 Td (4,421) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 464.21 Td (4,1) Tj ET Q q 0 0 0 rg BT 450.50 464.21 Td (13) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 464.21 Td (3,313) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 464.21 Td (3,121) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 450.21 Td (Salt Creek) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 96.24 454.29 Td (\(2\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 103.06 450.21 Td ( ) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 450.21 Td (2,002) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 450.21 Td (2,049) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 450.21 Td (2,274) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 450.21 Td (2,107) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 450.21 Td (2,109) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 450.21 Td (1,1) Tj ET Q q 0 0 0 rg BT 500.50 450.21 Td (15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 450.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 436.21 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 242.50 436.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 292.50 436.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.00 436.21 Td (6) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.50 436.21 Td (20) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 455.00 436.21 Td (7) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 500.50 436.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 550.50 436.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 422.21 Td (T) Tj ET Q q 0 0 0 rg BT 69.68 422.21 Td (otal Rocky Mountain region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 422.21 Td (6,052) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 422.21 Td (6,059) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 422.21 Td (6,250) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 422.21 Td (6,548) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 422.21 Td (6,229) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 422.21 Td (4,428) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 422.21 Td (3,121) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 408.21 Td (T) Tj ET Q q 0 0 0 rg BT 57.68 408.21 Td (otal tertiary oil production) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.75 408.21 Td (38,262) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.75 408.21 Td (38,079) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.75 408.21 Td (37,219) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.75 408.21 Td (37,764) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.75 408.21 Td (37,828) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 408.21 Td (37,506) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 408.21 Td (37,760) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 394.20 Td (Non-tertiary oil and gas pr) Tj ET Q q 0 0 0 rg BT 155.41 394.20 Td (oduction) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 380.20 Td (Gulf Coast region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 366.21 Td (Mississippi) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.00 366.21 Td (875) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.00 366.21 Td (901) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 366.21 Td (1,038) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 366.21 Td (1,023) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.00 366.21 Td (960) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 366.21 Td (981) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 366.21 Td (850) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 352.21 Td (T) Tj ET Q q 0 0 0 rg BT 63.68 352.21 Td (exas) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 352.21 Td (4,386) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 352.21 Td (4,947) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 352.21 Td (4,533) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 352.21 Td (4,319) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 352.21 Td (4,546) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 352.21 Td (4,493) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 352.21 Td (4,906) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 338.21 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.00 338.21 Td (431) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.00 338.21 Td (388) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.00 338.21 Td (421) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 388.00 338.21 Td (457) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.00 338.21 Td (424) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 338.21 Td (478) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 546.00 338.21 Td (515) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 324.21 Td (T) Tj ET Q q 0 0 0 rg BT 69.68 324.21 Td (otal Gulf Coast region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 324.21 Td (5,692) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 324.21 Td (6,236) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 324.21 Td (5,992) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 324.21 Td (5,799) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 324.21 Td (5,930) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 324.21 Td (5,952) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 324.21 Td (6,271) Tj ET Q BT /F3 9.00 Tf ET q 0 0 0 rg BT 52.50 310.20 Td (Rocky Mountain region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 296.21 Td (Cedar Creek ) Tj ET Q q 0 0 0 rg BT 105.73 296.21 Td (Anticline) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.75 296.21 Td (14,437) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.75 296.21 Td (15,742) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.75 296.21 Td (14,208) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.75 296.21 Td (14,961) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.75 296.21 Td (14,837) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 296.21 Td (14,754) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 296.21 Td (16,322) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 282.21 Td (Other) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 231.25 282.21 Td (1,485) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 281.25 282.21 Td (1,490) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 331.25 282.21 Td (1,409) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 381.25 282.21 Td (1,343) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 439.25 282.21 Td (1,431) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 282.21 Td (1,537) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 282.21 Td (1,844) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 268.21 Td (T) Tj ET Q q 0 0 0 rg BT 69.37 268.21 Td (otal Rocky Mountain region) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.75 268.21 Td (15,922) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.75 268.21 Td (17,232) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.75 268.21 Td (15,617) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.75 268.21 Td (16,304) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.75 268.21 Td (16,268) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 268.21 Td (16,291) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 268.21 Td (18,166) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 254.21 Td (T) Tj ET Q q 0 0 0 rg BT 57.37 254.21 Td (otal non-tertiary production) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.75 254.21 Td (21,614) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.75 254.21 Td (23,468) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.75 254.21 Td (21,609) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.75 254.21 Td (22,103) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.75 254.21 Td (22,198) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 254.21 Td (22,243) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 254.21 Td (24,437) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 240.20 Td (T) Tj ET Q q 0 0 0 rg BT 58.09 240.20 Td (otal continuing pr) Tj ET Q q 0 0 0 rg BT 126.61 240.20 Td (oduction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.75 240.21 Td (59,876) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.75 240.21 Td (61,547) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.75 240.21 Td (58,828) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.75 240.21 Td (59,867) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.75 240.21 Td (60,026) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 240.21 Td (59,749) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 240.21 Td (62,197) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 226.20 Td (Pr) Tj ET Q q 0 0 0 rg BT 61.91 226.20 Td (operty sales) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 58.50 212.21 Td (Property divestitures) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 133.24 216.29 Td (\(3\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 238.00 212.21 Td (462) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 288.00 212.21 Td (447) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 338.00 212.21 Td (353) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.50 212.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 446.00 212.21 Td (315) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 496.00 212.21 Td (549) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 539.25 212.21 Td (1,806) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 198.20 Td (T) Tj ET Q q 0 0 0 rg BT 57.68 198.20 Td (otal pr) Tj ET Q q 0 0 0 rg BT 83.26 198.20 Td (oduction) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 226.75 198.21 Td (60,338) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 276.75 198.21 Td (61,994) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 326.75 198.21 Td (59,181) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 376.75 198.21 Td (59,867) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 434.75 198.21 Td (60,341) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.75 198.21 Td (60,298) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 198.21 Td (64,003) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 179.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 179.25 Td (Mature ) Tj ET Q q 0 0 0 rg BT 98.88 179.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 141.36 179.25 Td (include ) Tj ET Q q 0 0 0 rg BT 173.30 179.25 Td (Brookhaven, ) Tj ET Q q 0 0 0 rg BT 227.17 179.25 Td (Cranfield, ) Tj ET Q q 0 0 0 rg BT 269.94 179.25 Td (Eucutta, ) Tj ET Q q 0 0 0 rg BT 305.48 179.25 Td (Little ) Tj ET Q q 0 0 0 rg BT 329.64 179.25 Td (Creek, ) Tj ET Q q 0 0 0 rg BT 358.52 179.25 Td (Mallalieu, ) Tj ET Q q 0 0 0 rg BT 401.84 179.25 Td (Martinville, ) Tj ET Q q 0 0 0 rg BT 451.83 179.25 Td (McComb ) Tj ET Q q 0 0 0 rg BT 492.10 179.25 Td (and ) Tj ET Q q 0 0 0 rg BT 509.04 179.25 Td (Soso ) Tj ET Q q 0 0 0 rg BT 531.00 179.25 Td (fields.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.25 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 164.25 Td (Represents ) Tj ET Q q 0 0 0 rg BT 114.49 164.25 Td (production ) Tj ET Q q 0 0 0 rg BT 160.93 164.25 Td (related ) Tj ET Q q 0 0 0 rg BT 191.24 164.25 Td (to ) Tj ET Q q 0 0 0 rg BT 202.13 164.25 Td (the ) Tj ET Q q 0 0 0 rg BT 217.46 164.25 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 264.45 164.25 Td (of ) Tj ET Q q 0 0 0 rg BT 275.89 164.25 Td (a ) Tj ET Q q 0 0 0 rg BT 283.44 164.25 Td (23% ) Tj ET Q q 0 0 0 rg BT 304.89 164.25 Td (non-operated ) Tj ET Q q 0 0 0 rg BT 360.75 164.25 Td (working ) Tj ET Q q 0 0 0 rg BT 397.19 164.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 429.74 164.25 Td (in ) Tj ET Q q 0 0 0 rg BT 440.63 164.25 Td (Salt ) Tj ET Q q 0 0 0 rg BT 459.30 164.25 Td (Creek ) Tj ET Q q 0 0 0 rg BT 486.29 164.25 Td (Field ) Tj ET Q q 0 0 0 rg BT 509.96 164.25 Td (in ) Tj ET Q q 0 0 0 rg BT 520.62 164.25 Td (W) Tj ET Q q 0 0 0 rg BT 529.46 164.25 Td (yoming, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 152.25 Td (which ) Tj ET Q q 0 0 0 rg BT 94.44 152.25 Td (closed ) Tj ET Q q 0 0 0 rg BT 122.49 152.25 Td (on ) Tj ET Q q 0 0 0 rg BT 134.99 152.25 Td (June ) Tj ET Q q 0 0 0 rg BT 155.82 152.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 170.82 152.25 Td (2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.25 Td (\(3\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 137.25 Td (Includes ) Tj ET Q q 0 0 0 rg BT 104.60 137.25 Td (production ) Tj ET Q q 0 0 0 rg BT 151.15 137.25 Td (from ) Tj ET Q q 0 0 0 rg BT 173.82 137.25 Td (Lockhart ) Tj ET Q q 0 0 0 rg BT 213.13 137.25 Td (Crossing ) Tj ET Q q 0 0 0 rg BT 251.92 137.25 Td (Field ) Tj ET Q q 0 0 0 rg BT 275.70 137.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 295.60 137.25 Td (in ) Tj ET Q q 0 0 0 rg BT 306.60 137.25 Td (the ) Tj ET Q q 0 0 0 rg BT 322.04 137.25 Td (third ) Tj ET Q q 0 0 0 rg BT 344.16 137.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 375.70 137.25 Td (of ) Tj ET Q q 0 0 0 rg BT 387.25 137.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 412.98 137.25 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 463.40 137.25 Td (production ) Tj ET Q q 0 0 0 rg BT 509.95 137.25 Td (in ) Tj ET Q q 0 0 0 rg BT 520.96 137.25 Td (the ) Tj ET Q q 0 0 0 rg BT 536.40 137.25 Td (Rocky ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 125.25 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 108.66 125.25 Td (region ) Tj ET Q q 0 0 0 rg BT 136.48 125.25 Td (related ) Tj ET Q q 0 0 0 rg BT 165.95 125.25 Td (to ) Tj ET Q q 0 0 0 rg BT 176.01 125.25 Td (the ) Tj ET Q q 0 0 0 rg BT 190.50 125.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 208.32 125.25 Td (of ) Tj ET Q q 0 0 0 rg BT 218.92 125.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 261.73 125.25 Td (non-core ) Tj ET Q q 0 0 0 rg BT 299.54 125.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 325.15 125.25 Td (in ) Tj ET Q q 0 0 0 rg BT 335.20 125.25 Td (the ) Tj ET Q q 0 0 0 rg BT 349.52 125.25 Td (W) Tj ET Q q 0 0 0 rg BT 358.56 125.25 Td (illiston ) Tj ET Q q 0 0 0 rg BT 388.62 125.25 Td (Basin ) Tj ET Q q 0 0 0 rg BT 413.67 125.25 Td (of ) Tj ET Q q 0 0 0 rg BT 424.27 125.25 Td (North ) Tj ET Q q 0 0 0 rg BT 449.88 125.25 Td (Dakota ) Tj ET Q q 0 0 0 rg BT 481.02 125.25 Td (and ) Tj ET Q q 0 0 0 rg BT 497.74 125.25 Td (Montana, ) Tj ET Q q 0 0 0 rg BT 538.06 125.25 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 113.25 Td (closed ) Tj ET Q q 0 0 0 rg BT 95.55 113.25 Td (in ) Tj ET Q q 0 0 0 rg BT 105.83 113.25 Td (the ) Tj ET Q q 0 0 0 rg BT 120.54 113.25 Td (third ) Tj ET Q q 0 0 0 rg BT 141.93 113.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 172.74 113.25 Td (of ) Tj ET Q q 0 0 0 rg BT 183.57 113.25 Td (2016, ) Tj ET Q q 0 0 0 rg BT 208.57 113.25 Td (and ) Tj ET Q q 0 0 0 rg BT 225.51 113.25 Td (other ) Tj ET Q q 0 0 0 rg BT 248.56 113.25 Td (minor ) Tj ET Q q 0 0 0 rg BT 274.95 113.25 Td (property ) Tj ET Q q 0 0 0 rg BT 311.32 113.25 Td (divestitures.) Tj ET Q endstream endobj 99 0 obj <> endobj 100 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (49) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.14 713.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 72.20 713.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 81.83 713.10 Td (oduction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 689.10 Td (T) Tj ET Q q 0 0 0 rg BT 72.91 689.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 89.70 689.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 134.27 689.10 Td (production ) Tj ET Q q 0 0 0 rg BT 179.38 689.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.29 689.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.29 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 229.08 689.10 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.96 689.10 Td (60,026) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.46 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.25 689.10 Td (BOE/d, ) Tj ET Q q 0 0 0 rg BT 328.32 689.10 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.89 689.10 Td (37,828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.39 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 397.18 689.10 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 425.09 689.10 Td (from ) Tj ET Q q 0 0 0 rg BT 446.33 689.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 476.99 689.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 518.77 689.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.00 689.10 Td (22,198) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 79.98 677.10 Td (from ) Tj ET Q q 0 0 0 rg BT 102.11 677.10 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 152.01 677.10 Td (properties. ) Tj ET Q q 0 0 0 rg BT 197.20 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 199.70 677.10 Td (T) Tj ET Q q 0 0 0 rg BT 205.11 677.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 222.80 677.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 268.27 677.10 Td (production ) Tj ET Q q 0 0 0 rg BT 314.30 677.10 Td (excludes ) Tj ET Q q 0 0 0 rg BT 351.98 677.10 Td (production ) Tj ET Q q 0 0 0 rg BT 398.00 677.10 Td (from ) Tj ET Q q 0 0 0 rg BT 420.14 677.10 Td (Lockhart ) Tj ET Q q 0 0 0 rg BT 458.93 677.10 Td (Crossing ) Tj ET Q q 0 0 0 rg BT 497.19 677.10 Td (Field ) Tj ET Q q 0 0 0 rg BT 520.44 677.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 539.81 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 677.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (third ) Tj ET Q q 0 0 0 rg BT 71.06 665.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 102.05 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 113.05 665.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 138.23 665.10 Td (which ) Tj ET Q q 0 0 0 rg BT 165.34 665.10 Td (production ) Tj ET Q q 0 0 0 rg BT 211.34 665.10 Td (totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.22 665.10 Td (315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.22 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 258.89 665.10 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 289.35 665.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.46 665.10 Td (549) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 321.46 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 324.13 665.10 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 354.58 665.10 Td (during ) Tj ET Q q 0 0 0 rg BT 383.36 665.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 406.04 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 423.15 665.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 448.32 665.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 495.98 665.10 Td (. ) Tj ET Q q 0 0 0 rg BT 501.16 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 503.83 665.10 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.06 665.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.06 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 544.73 665.10 Td (total ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 94.66 653.10 Td (production ) Tj ET Q q 0 0 0 rg BT 140.38 653.10 Td (level ) Tj ET Q q 0 0 0 rg BT 162.20 653.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 205.13 653.10 Td (a ) Tj ET Q q 0 0 0 rg BT 211.96 653.10 Td (slight ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.58 653.10 Td (increase) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.33 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.72 653.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.44 653.10 Td (277) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.44 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.83 653.10 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 330.00 653.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 371.81 653.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.98 653.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.98 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 404.37 653.10 Td (levels, ) Tj ET Q q 0 0 0 rg BT 432.59 653.10 Td (most ) Tj ET Q q 0 0 0 rg BT 454.42 653.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 506.80 653.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 554.73 653.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.10 641.10 Td (1,801 ) Tj ET Q q 0 0 0 rg BT 80.76 641.10 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 110.71 641.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 145.62 641.10 Td (from ) Tj ET Q q 0 0 0 rg BT 167.22 641.10 Td (our ) Tj ET Q q 0 0 0 rg BT 182.72 641.10 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 210.99 641.10 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 252.04 641.10 Td (region ) Tj ET Q q 0 0 0 rg BT 279.75 641.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 310.78 641.10 Td (properties, ) Tj ET Q q 0 0 0 rg BT 355.43 641.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 390.92 641.10 Td (of) Tj ET Q q 0 0 0 rg BT 399.07 641.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 415.67 641.10 Td (by ) Tj ET Q q 0 0 0 rg BT 427.83 641.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 462.76 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 472.70 641.10 Td (our ) Tj ET Q q 0 0 0 rg BT 488.19 641.10 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 508.68 641.10 Td (Coast ) Tj ET Q q 0 0 0 rg BT 533.63 641.10 Td (tertiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (properties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 605.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 84.94 605.10 Td (production ) Tj ET Q q 0 0 0 rg BT 130.15 605.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.14 605.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.14 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 180.03 605.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.47 605.10 Td (97%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.80 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 217.68 605.10 Td (oil, ) Tj ET Q q 0 0 0 rg BT 232.63 605.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 274.51 605.10 Td (with ) Tj ET Q q 0 0 0 rg BT 294.17 605.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 316.06 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 332.38 605.10 Td (slightly ) Tj ET Q q 0 0 0 rg BT 364.28 605.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 391.71 605.10 Td (than ) Tj ET Q q 0 0 0 rg BT 410.81 605.10 Td (96% ) Tj ET Q q 0 0 0 rg BT 431.03 605.10 Td (for ) Tj ET Q q 0 0 0 rg BT 444.57 605.10 Td (2016. ) Tj ET Q q 0 0 0 rg BT 468.96 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 470.71 605.10 Td (W) Tj ET Q q 0 0 0 rg BT 479.35 605.10 Td (e ) Tj ET Q q 0 0 0 rg BT 485.67 605.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 523.65 605.10 Td (anticipate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 72.13 593.10 Td (average ) Tj ET Q q 0 0 0 rg BT 105.85 593.10 Td (daily ) Tj ET Q q 0 0 0 rg BT 128.47 593.10 Td (production ) Tj ET Q q 0 0 0 rg BT 174.43 593.10 Td (will ) Tj ET Q q 0 0 0 rg BT 192.62 593.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 229.66 593.10 Td (slightly ) Tj ET Q q 0 0 0 rg BT 262.30 593.10 Td (from ) Tj ET Q q 0 0 0 rg BT 284.37 593.10 Td (our ) Tj ET Q q 0 0 0 rg BT 300.33 593.10 Td (average ) Tj ET Q q 0 0 0 rg BT 334.04 593.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 356.67 593.10 Td (production ) Tj ET Q q 0 0 0 rg BT 402.63 593.10 Td (rate, ) Tj ET Q q 0 0 0 rg BT 422.74 593.10 Td (with ) Tj ET Q q 0 0 0 rg BT 443.15 593.10 Td (an ) Tj ET Q q 0 0 0 rg BT 455.22 593.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 493.39 593.10 Td (range ) Tj ET Q q 0 0 0 rg BT 518.22 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 529.18 593.10 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (56,000 ) Tj ET Q q 0 0 0 rg BT 79.50 581.10 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 109.78 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 126.72 581.10 Td (60,000 ) Tj ET Q q 0 0 0 rg BT 156.72 581.10 Td (BOE/d.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.14 557.10 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 83.86 557.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 93.49 557.10 Td (oduction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 533.10 Td (Continuing ) Tj ET Q q 0 0 0 rg BT 115.03 533.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 128.11 533.10 Td (production ) Tj ET Q q 0 0 0 rg BT 173.95 533.10 Td (from ) Tj ET Q q 0 0 0 rg BT 195.91 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 211.77 533.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 243.16 533.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 287.34 533.10 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 325.94 533.10 Td (37,828) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.44 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 355.96 533.10 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 384.60 533.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 413.23 533.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.23 533.10 Td (, ) Tj ET Q q 0 0 0 rg BT 438.26 533.10 Td (an ) Tj ET Q q 0 0 0 rg BT 450.22 533.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 485.49 533.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 496.35 533.10 Td (322) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 511.35 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 513.87 533.10 Td (Bbls/d ) Tj ET Q q 0 0 0 rg BT 542.51 533.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.84 533.10 Td (1%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.17 533.10 Td (\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 92.77 521.10 Td (to ) Tj ET Q q 0 0 0 rg BT 104.38 521.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 128.23 521.10 Td (levels, ) Tj ET Q q 0 0 0 rg BT 157.89 521.10 Td (as ) Tj ET Q q 0 0 0 rg BT 170.06 521.10 Td (production ) Tj ET Q q 0 0 0 rg BT 217.23 521.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 257.72 521.10 Td (from ) Tj ET Q q 0 0 0 rg BT 281.00 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.06 521.10 Td (redevelopment ) Tj ET Q q 0 0 0 rg BT 360.32 521.10 Td (project ) Tj ET Q q 0 0 0 rg BT 391.92 521.10 Td (in ) Tj ET Q q 0 0 0 rg BT 403.54 521.10 Td (mid-2017 ) Tj ET Q q 0 0 0 rg BT 446.27 521.10 Td (at ) Tj ET Q q 0 0 0 rg BT 457.33 521.10 Td (Hastings ) Tj ET Q q 0 0 0 rg BT 496.17 521.10 Td (Field, ) Tj ET Q q 0 0 0 rg BT 523.07 521.10 Td (continued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (expansion ) Tj ET Q q 0 0 0 rg BT 92.10 509.10 Td (at ) Tj ET Q q 0 0 0 rg BT 101.36 509.10 Td (Bell ) Tj ET Q q 0 0 0 rg BT 120.08 509.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 146.00 509.10 Td (Field, ) Tj ET Q q 0 0 0 rg BT 171.11 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 187.60 509.10 Td (a ) Tj ET Q q 0 0 0 rg BT 194.09 509.10 Td (full ) Tj ET Q q 0 0 0 rg BT 210.02 509.10 Td (year ) Tj ET Q q 0 0 0 rg BT 229.28 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 239.66 509.10 Td (production ) Tj ET Q q 0 0 0 rg BT 285.04 509.10 Td (from ) Tj ET Q q 0 0 0 rg BT 306.52 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 320.79 509.10 Td (mid-2017 ) Tj ET Q q 0 0 0 rg BT 361.73 509.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 407.66 509.10 Td (at ) Tj ET Q q 0 0 0 rg BT 416.93 509.10 Td (Salt ) Tj ET Q q 0 0 0 rg BT 434.53 509.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 460.46 509.10 Td (Field ) Tj ET Q q 0 0 0 rg BT 483.07 509.10 Td (were ) Tj ET Q q 0 0 0 rg BT 504.54 509.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 539.91 509.10 Td (of) Tj ET Q q 0 0 0 rg BT 548.06 509.10 Td (fset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (by ) Tj ET Q q 0 0 0 rg BT 62.00 497.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 92.26 497.10 Td (production ) Tj ET Q q 0 0 0 rg BT 138.09 497.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 173.35 497.10 Td (at ) Tj ET Q q 0 0 0 rg BT 182.89 497.10 Td (T) Tj ET Q q 0 0 0 rg BT 188.65 497.10 Td (insley) Tj ET Q q 0 0 0 rg BT 211.88 497.10 Td (, ) Tj ET Q q 0 0 0 rg BT 216.88 497.10 Td (Heidelber) Tj ET Q q 0 0 0 rg BT 256.13 497.10 Td (g, ) Tj ET Q q 0 0 0 rg BT 266.13 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 283.06 497.10 Td (our ) Tj ET Q q 0 0 0 rg BT 298.89 497.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 329.16 497.10 Td (fields ) Tj ET Q q 0 0 0 rg BT 353.88 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 364.15 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.87 497.10 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 399.70 497.10 Td (Coast ) Tj ET Q q 0 0 0 rg BT 424.98 497.10 Td (region.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (Non-T) Tj ET Q q 0 0 0 rg BT 74.14 473.10 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 103.86 473.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 113.49 473.10 Td (oduction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 449.10 Td (Continuing ) Tj ET Q q 0 0 0 rg BT 114.05 449.10 Td (production ) Tj ET Q q 0 0 0 rg BT 158.93 449.10 Td (from ) Tj ET Q q 0 0 0 rg BT 179.91 449.10 Td (our ) Tj ET Q q 0 0 0 rg BT 194.79 449.10 Td (non-tertiary ) Tj ET Q q 0 0 0 rg BT 243.54 449.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 286.74 449.10 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.38 449.10 Td (22,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.88 449.10 Td ( ) Tj ET Q q 0 0 0 rg BT 353.42 449.10 Td (BOE/d ) Tj ET Q q 0 0 0 rg BT 382.75 449.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.41 449.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.41 449.10 Td (, ) Tj ET Q q 0 0 0 rg BT 434.45 449.10 Td (essentially ) Tj ET Q q 0 0 0 rg BT 478.21 449.10 Td (unchanged ) Tj ET Q q 0 0 0 rg BT 523.08 449.10 Td (compared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.71 437.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.71 437.10 Td ( ) Tj ET Q q 0 0 0 rg BT 82.14 437.10 Td (levels, ) Tj ET Q q 0 0 0 rg BT 110.40 437.10 Td (as ) Tj ET Q q 0 0 0 rg BT 121.17 437.10 Td (production ) Tj ET Q q 0 0 0 rg BT 166.92 437.10 Td (from ) Tj ET Q q 0 0 0 rg BT 188.80 437.10 Td (our ) Tj ET Q q 0 0 0 rg BT 204.56 437.10 Td (Mission ) Tj ET Q q 0 0 0 rg BT 239.22 437.10 Td (Canyon ) Tj ET Q q 0 0 0 rg BT 272.77 437.10 Td (exploitation ) Tj ET Q q 0 0 0 rg BT 322.97 437.10 Td (wells ) Tj ET Q q 0 0 0 rg BT 346.51 437.10 Td (of) Tj ET Q q 0 0 0 rg BT 354.66 437.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 371.53 437.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 401.73 437.10 Td (production ) Tj ET Q q 0 0 0 rg BT 447.48 437.10 Td (declines ) Tj ET Q q 0 0 0 rg BT 482.68 437.10 Td (at ) Tj ET Q q 0 0 0 rg BT 492.33 437.10 Td (other ) Tj ET Q q 0 0 0 rg BT 515.31 437.10 Td (non-tertiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (properties.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 64.78 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 82.84 401.10 Td (Natural ) Tj ET Q q 0 0 0 rg BT 117.57 401.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 136.18 401.10 Td (Revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 377.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 82.23 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 98.61 377.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 128.32 377.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 143.60 377.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 181.08 377.10 Td (increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 220.79 377.10 Td (31%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.12 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.06 377.10 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.33 377.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.33 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 298.27 377.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.66 377.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.66 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 336.61 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 352.99 377.10 Td (increased ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.69 377.10 Td (16%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.02 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 412.97 377.10 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.23 377.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.23 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 470.18 377.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.57 377.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.57 377.10 Td (. ) Tj ET Q q 0 0 0 rg BT 511.01 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 512.82 377.10 Td (The ) Tj ET Q q 0 0 0 rg BT 530.31 377.10 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.13 365.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.31 365.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 89.72 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 107.02 365.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 137.63 365.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 153.82 365.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 192.21 365.10 Td (are ) Tj ET Q q 0 0 0 rg BT 207.27 365.10 Td (due ) Tj ET Q q 0 0 0 rg BT 224.56 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 235.19 365.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 270.25 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 280.88 365.10 Td (production ) Tj ET Q q 0 0 0 rg BT 327.06 365.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 368.79 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 386.08 365.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 434.49 365.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 461.22 365.10 Td (\(excluding ) Tj ET Q q 0 0 0 rg BT 506.84 365.10 Td (any ) Tj ET Q q 0 0 0 rg BT 524.13 365.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 554.19 365.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.33 353.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 113.38 353.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 155.86 353.10 Td (contracts\), ) Tj ET Q q 0 0 0 rg BT 200.29 353.10 Td (as ) Tj ET Q q 0 0 0 rg BT 211.12 353.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 248.59 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 258.87 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.58 353.10 Td (following ) Tj ET Q q 0 0 0 rg BT 314.97 353.10 Td (table:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 281.60 236.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 285.50 281.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 289.50 281.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 281.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 281.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 281.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 281.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 281.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 281.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 251.60 236.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 285.50 251.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 289.50 251.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 251.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 251.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 251.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 251.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 251.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 251.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 318.6 m 354.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 318.6 m 358.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 318.6 m 423.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 318.6 m 492.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 318.6 m 496.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 318.6 m 561.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 281.6 m 285.5 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 318.6 m 354.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 281.6 m 354.5 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 354.5 318.6 m 358.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 318.6 m 423.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 281.6 m 423.5 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 318.6 m 492.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 281.6 m 492.5 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 318.6 m 496.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 318.6 m 561.5 318.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 281.6 m 561.5 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 236.60000000000002 m 354.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 236.60000000000002 m 423.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 236.60000000000002 m 492.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 236.60000000000002 m 561.5 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 222.60000000000002 m 354.5 222.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 289.5 220.60000000000002 m 354.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 222.60000000000002 m 423.5 222.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 220.60000000000002 m 423.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 222.60000000000002 m 492.5 222.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 220.60000000000002 m 492.5 220.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 222.60000000000002 m 561.5 222.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 220.60000000000002 m 561.5 220.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 313.95 330.85 Td (Y) Tj ET Q q 0 0 0 rg BT 318.93 330.85 Td (ear Ended December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 333.40 322.85 Td (2018 vs. 2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.95 330.85 Td (Y) Tj ET Q q 0 0 0 rg BT 456.93 330.85 Td (ear Ended December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.40 322.85 Td (2017 vs. 2016) Tj ET Q BT /F4 8.00 Tf ET q 0 0 0 rg BT 52.00 285.85 Td (In thousands) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 304.05 293.85 Td (Increase in) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 305.90 285.85 Td (Revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 372.95 301.85 Td (Percentage) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.05 293.85 Td (Increase in) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.90 285.85 Td (Revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.15 301.85 Td (Increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.05 293.85 Td (\(Decrease\) in) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.90 285.85 Td (Revenues) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.95 309.85 Td (Percentage) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.15 301.85 Td (Increase) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.05 293.85 Td (\(Decrease\) in) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.90 285.85 Td (Revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 271.27 Td (Change in oil and natural gas revenues due to:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 271.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 271.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 271.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 271.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 256.27 Td (Increase \(decrease\) in production) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 256.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.65 256.27 Td (765) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 256.27 Td (0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 256.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 256.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 256.32 Td (\(56,574) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 256.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.95 256.27 Td (\(6) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.30 256.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 241.27 Td (Increase in commodity prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 241.27 Td (332,158) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 241.27 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 241.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 241.27 Td (210,489) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 241.27 Td (22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 241.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 226.27 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 226.27 Td (otal increase in oil and natural gas revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.00 226.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.15 226.27 Td (332,923) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 226.27 Td (31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 226.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 226.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 226.27 Td (153,915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.30 226.27 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 226.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 101 0 obj <> endobj 102 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 713.10 Td (Excluding ) Tj ET Q q 0 0 0 rg BT 112.45 713.10 Td (any ) Tj ET Q q 0 0 0 rg BT 130.73 713.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 161.79 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 173.96 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 191.13 713.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 240.53 713.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 284.35 713.10 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 326.79 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 343.96 713.10 Td (average ) Tj ET Q q 0 0 0 rg BT 378.89 713.10 Td (net ) Tj ET Q q 0 0 0 rg BT 394.95 713.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 430.44 713.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 479.83 713.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 507.55 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 525.83 713.10 Td (NYMEX ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.43 701.10 Td (ferentials ) Tj ET Q q 0 0 0 rg BT 100.13 701.10 Td (were ) Tj ET Q q 0 0 0 rg BT 122.06 701.10 Td (as ) Tj ET Q q 0 0 0 rg BT 132.89 701.10 Td (follows ) Tj ET Q q 0 0 0 rg BT 165.39 701.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.00 701.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.00 701.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.00 701.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.00 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.50 701.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.44 701.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.44 701.10 Td (:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 660.60 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 660.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 660.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 660.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 660.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 660.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 630.60 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 630.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 630.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 630.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 630.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 630.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 600.60 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 600.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 600.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 600.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 600.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 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427.50 510.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 510.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 510.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 480.60 309.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 480.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 480.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 480.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 480.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 480.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 675.6 m 423.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 675.6 m 427.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 675.6 m 492.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 675.6 m 496.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 675.6 m 561.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 675.6 m 423.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 660.6 m 423.5 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 675.6 m 492.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 660.6 m 492.5 660.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 675.6 m 561.5 675.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 660.6 m 561.5 660.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 680.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.95 680.27 Td (Y) Tj ET Q q 0 0 0 rg BT 413.67 680.27 Td (ear Ended December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 665.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 665.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 665.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 665.27 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 650.28 Td (A) Tj ET Q q 0 0 0 rg BT 58.85 650.28 Td (verage net r) Tj ET Q q 0 0 0 rg BT 109.47 650.28 Td (ealized prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 650.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 650.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 650.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 635.27 Td (Oil price per Bbl) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 635.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 635.27 Td (66.1) Tj ET Q q 0 0 0 rg BT 414.65 635.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 635.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 635.27 Td (50.64) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 635.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 635.27 Td (41.12) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 620.27 Td (Natural gas price per Mcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 620.27 Td (2.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 620.27 Td (2.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 620.27 Td (1.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 605.27 Td (Price per BOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 605.27 Td (64.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 605.27 Td (49.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 605.27 Td (39.95) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.00 590.28 Td (A) Tj ET Q q 0 0 0 rg BT 58.48 590.28 Td (verage NYMEX differ) Tj ET Q q 0 0 0 rg BT 153.26 590.28 Td (entials) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 590.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 590.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 590.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 575.27 Td (Gulf Coast region) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 560.27 Td ( Oil per Bbl) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 560.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 560.27 Td (2.94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 560.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 560.27 Td (0.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 560.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 560.32 Td (\(1.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 560.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 545.27 Td (Natural gas per Mcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 545.27 Td (0.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 545.32 Td (\(0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 545.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 545.32 Td (\(0.52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 545.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 530.27 Td ( Rocky Mountain region) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.00 515.27 Td (Oil per Bbl) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 515.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 515.32 Td (\(1.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 515.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 515.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 515.32 Td (\(1.39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 515.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 515.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 515.32 Td (\(3.97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 515.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 61.00 500.27 Td ( Natural gas per Mcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 500.32 Td (\(1.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 500.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 500.32 Td (\(1.15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 500.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 500.32 Td (\(0.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 500.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 485.27 Td (T) Tj ET Q q 0 0 0 rg BT 69.41 485.27 Td (otal Company) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.00 470.27 Td (Oil per Bbl) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 470.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 470.27 Td (1.30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 470.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 470.32 Td (\(0.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 470.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 470.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 470.32 Td (\(2.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 470.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 73.00 455.27 Td (Natural gas per Mcf) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 455.32 Td (\(0.49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 455.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 455.32 Td (\(0.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 455.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 455.32 Td (\(0.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 455.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 427.10 Td (Prices ) Tj ET Q q 0 0 0 rg BT 94.98 427.10 Td (received ) Tj ET Q q 0 0 0 rg BT 131.89 427.10 Td (in ) Tj ET Q q 0 0 0 rg BT 142.72 427.10 Td (a ) Tj ET Q q 0 0 0 rg BT 150.20 427.10 Td (regional ) Tj ET Q q 0 0 0 rg BT 186.01 427.10 Td (market ) Tj ET Q q 0 0 0 rg BT 216.82 427.10 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 254.85 427.10 Td (frequently ) Tj ET Q q 0 0 0 rg BT 298.99 427.10 Td (and ) Tj ET Q q 0 0 0 rg BT 316.47 427.10 Td (can ) Tj ET Q q 0 0 0 rg BT 333.39 427.10 Td (dif) Tj ET Q q 0 0 0 rg BT 344.32 427.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 358.47 427.10 Td (from ) Tj ET Q q 0 0 0 rg BT 380.95 427.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 420.66 427.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 452.03 427.10 Td (due ) Tj ET Q q 0 0 0 rg BT 469.52 427.10 Td (to ) Tj ET Q q 0 0 0 rg BT 480.34 427.10 Td (a ) Tj ET Q q 0 0 0 rg BT 487.83 427.10 Td (variety ) Tj ET Q q 0 0 0 rg BT 518.63 427.10 Td (of ) Tj ET Q q 0 0 0 rg BT 530.01 427.10 Td (reasons, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 415.10 Td (including ) Tj ET Q q 0 0 0 rg BT 89.77 415.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 118.94 415.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 146.99 415.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 181.15 415.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 213.35 415.10 Td (crude ) Tj ET Q q 0 0 0 rg BT 238.06 415.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 251.12 415.10 Td (quality) Tj ET Q q 0 0 0 rg BT 278.24 415.10 Td (, ) Tj ET Q q 0 0 0 rg BT 283.24 415.10 Td (and ) Tj ET Q q 0 0 0 rg BT 300.18 415.10 Td (location ) Tj ET Q q 0 0 0 rg BT 334.89 415.10 Td (dif) Tj ET Q q 0 0 0 rg BT 345.82 415.10 Td (ferentials.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 391.10 Td (� ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 391.10 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 107.60 391.10 Td (Coast ) Tj ET Q q 0 0 0 rg BT 134.69 391.10 Td (Region) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.69 391.10 Td (. ) Tj ET Q q 0 0 0 rg BT 169.84 391.10 Td ( ) Tj ET Q q 0 0 0 rg BT 172.49 391.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 190.69 391.10 Td (average ) Tj ET Q q 0 0 0 rg BT 224.42 391.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 263.73 391.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 276.94 391.10 Td (dif) Tj ET Q q 0 0 0 rg BT 287.87 391.10 Td (ferential ) Tj ET Q q 0 0 0 rg BT 323.83 391.10 Td (in ) Tj ET Q q 0 0 0 rg BT 334.25 391.10 Td (the ) Tj ET Q q 0 0 0 rg BT 349.12 391.10 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 370.10 391.10 Td (Coast ) Tj ET Q q 0 0 0 rg BT 395.53 391.10 Td (region ) Tj ET Q q 0 0 0 rg BT 423.72 391.10 Td (was ) Tj ET Q q 0 0 0 rg BT 441.92 391.10 Td (a ) Tj ET Q q 0 0 0 rg BT 449.01 391.10 Td (positive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.32 391.10 Td ($2.94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 505.82 391.10 Td ( ) Tj ET Q q 0 0 0 rg BT 508.47 391.10 Td (per ) Tj ET Q q 0 0 0 rg BT 523.89 391.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 540.99 391.10 Td (and ) Tj ET Q q 0 0 0 rg BT 558.08 391.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 379.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 119.36 379.10 Td ($0.22 ) Tj ET Q q 0 0 0 rg BT 144.05 379.10 Td (per ) Tj ET Q q 0 0 0 rg BT 159.02 379.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 175.66 379.10 Td (during ) Tj ET Q q 0 0 0 rg BT 203.96 379.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 226.15 379.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.79 379.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 267.48 379.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 315.14 379.10 Td (. ) Tj ET Q q 0 0 0 rg BT 319.83 379.10 Td ( ) Tj ET Q q 0 0 0 rg BT 321.87 379.10 Td (These ) Tj ET Q q 0 0 0 rg BT 347.94 379.10 Td (dif) Tj ET Q q 0 0 0 rg BT 358.87 379.10 Td (ferentials ) Tj ET Q q 0 0 0 rg BT 398.26 379.10 Td (are ) Tj ET Q q 0 0 0 rg BT 412.67 379.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 451.51 379.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 503.69 379.10 Td (by ) Tj ET Q q 0 0 0 rg BT 515.89 379.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.30 379.10 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 367.10 Td (in ) Tj ET Q q 0 0 0 rg BT 96.30 367.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 123.21 367.10 Td (received ) Tj ET Q q 0 0 0 rg BT 160.10 367.10 Td (for ) Tj ET Q q 0 0 0 rg BT 174.78 367.10 Td (our ) Tj ET Q q 0 0 0 rg BT 191.14 367.10 Td (crude ) Tj ET Q q 0 0 0 rg BT 216.37 367.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 229.96 367.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 249.65 367.10 Td (under ) Tj ET Q q 0 0 0 rg BT 275.45 367.10 Td (LLS ) Tj ET Q q 0 0 0 rg BT 296.25 367.10 Td (index ) Tj ET Q q 0 0 0 rg BT 321.50 367.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 348.40 367.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 381.41 367.10 Td (to ) Tj ET Q q 0 0 0 rg BT 392.21 367.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.45 367.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 442.69 367.10 Td (in ) Tj ET Q q 0 0 0 rg BT 453.49 367.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 493.18 367.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 522.59 367.10 Td (as ) Tj ET Q q 0 0 0 rg BT 533.94 367.10 Td (well ) Tj ET Q q 0 0 0 rg BT 554.19 367.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 355.10 Td (various ) Tj ET Q q 0 0 0 rg BT 118.31 355.10 Td (other ) Tj ET Q q 0 0 0 rg BT 142.23 355.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 172.81 355.10 Td (such ) Tj ET Q q 0 0 0 rg BT 194.51 355.10 Td (as ) Tj ET Q q 0 0 0 rg BT 206.22 355.10 Td (those ) Tj ET Q q 0 0 0 rg BT 230.70 355.10 Td (noted ) Tj ET Q q 0 0 0 rg BT 256.29 355.10 Td (above. ) Tj ET Q q 0 0 0 rg BT 286.04 355.10 Td ( ) Tj ET Q q 0 0 0 rg BT 289.17 355.10 Td (The ) Tj ET Q q 0 0 0 rg BT 308.09 355.10 Td (average ) Tj ET Q q 0 0 0 rg BT 342.54 355.10 Td (LLS-to-NYMEX ) Tj ET Q q 0 0 0 rg BT 414.80 355.10 Td (dif) Tj ET Q q 0 0 0 rg BT 425.73 355.10 Td (ferential ) Tj ET Q q 0 0 0 rg BT 462.41 355.10 Td (\(on ) Tj ET Q q 0 0 0 rg BT 479.11 355.10 Td (a ) Tj ET Q q 0 0 0 rg BT 486.93 355.10 Td (trade-month ) Tj ET Q q 0 0 0 rg BT 539.17 355.10 Td (basis\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 343.10 Td (averaged ) Tj ET Q q 0 0 0 rg BT 125.72 343.10 Td (a ) Tj ET Q q 0 0 0 rg BT 134.29 343.10 Td (positive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.09 343.10 Td ($4.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.59 343.10 Td ( ) Tj ET Q q 0 0 0 rg BT 196.73 343.10 Td (per ) Tj ET Q q 0 0 0 rg BT 213.63 343.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 232.22 343.10 Td (and ) Tj ET Q q 0 0 0 rg BT 250.79 343.10 Td ($2.85 ) Tj ET Q q 0 0 0 rg BT 277.42 343.10 Td (per ) Tj ET Q q 0 0 0 rg BT 294.33 343.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 312.91 343.10 Td (during ) Tj ET Q q 0 0 0 rg BT 343.16 343.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 367.29 343.10 Td (and ) Tj ET Q q 0 0 0 rg BT 385.86 343.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 412.50 343.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 460.16 343.10 Td (. ) Tj ET Q q 0 0 0 rg BT 466.80 343.10 Td ( ) Tj ET Q q 0 0 0 rg BT 470.93 343.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.40 343.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.40 343.10 Td (, ) Tj ET Q q 0 0 0 rg BT 530.03 343.10 Td (we ) Tj ET Q q 0 0 0 rg BT 545.83 343.10 Td (sold ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 331.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 145.54 331.10 Td (60%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.87 331.10 Td ( ) Tj ET Q q 0 0 0 rg BT 166.15 331.10 Td (of ) Tj ET Q q 0 0 0 rg BT 176.77 331.10 Td (our ) Tj ET Q q 0 0 0 rg BT 192.38 331.10 Td (crude ) Tj ET Q q 0 0 0 rg BT 216.87 331.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 229.71 331.10 Td (at ) Tj ET Q q 0 0 0 rg BT 239.21 331.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 265.37 331.10 Td (based ) Tj ET Q q 0 0 0 rg BT 290.42 331.10 Td (on, ) Tj ET Q q 0 0 0 rg BT 305.20 331.10 Td (or ) Tj ET Q q 0 0 0 rg BT 315.81 331.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 351.42 331.10 Td (tied ) Tj ET Q q 0 0 0 rg BT 368.70 331.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 381.26 331.10 Td (the ) Tj ET Q q 0 0 0 rg BT 395.76 331.10 Td (LLS ) Tj ET Q q 0 0 0 rg BT 415.82 331.10 Td (index ) Tj ET Q q 0 0 0 rg BT 440.32 331.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 465.08 331.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.81 331.10 Td (the ) Tj ET Q q 0 0 0 rg BT 496.31 331.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 529.12 331.10 Td (at ) Tj ET Q q 0 0 0 rg BT 538.62 331.10 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 319.10 Td (based ) Tj ET Q q 0 0 0 rg BT 110.77 319.10 Td (on ) Tj ET Q q 0 0 0 rg BT 123.27 319.10 Td (various ) Tj ET Q q 0 0 0 rg BT 155.21 319.10 Td (other ) Tj ET Q q 0 0 0 rg BT 178.25 319.10 Td (indexes ) Tj ET Q q 0 0 0 rg BT 211.30 319.10 Td (tied ) Tj ET Q q 0 0 0 rg BT 228.80 319.10 Td (to ) Tj ET Q q 0 0 0 rg BT 239.07 319.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 278.24 319.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 307.12 319.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 346.83 319.10 Td (in ) Tj ET Q q 0 0 0 rg BT 357.11 319.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.82 319.10 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 400.43 319.10 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 441.82 319.10 Td (region.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 295.10 Td (� ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 85.50 295.10 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 116.40 295.10 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 162.32 295.10 Td (Region. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.50 295.10 Td ( ) Tj ET Q q 0 0 0 rg BT 202.19 295.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 242.53 295.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 256.77 295.10 Td (dif) Tj ET Q q 0 0 0 rg BT 267.70 295.10 Td (ferentials ) Tj ET Q q 0 0 0 rg BT 308.59 295.10 Td (in ) Tj ET Q q 0 0 0 rg BT 320.05 295.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.95 295.10 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 365.74 295.10 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 408.31 295.10 Td (region ) Tj ET Q q 0 0 0 rg BT 437.54 295.10 Td (averaged ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.31 295.10 Td ($1.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.81 295.10 Td ( ) Tj ET Q q 0 0 0 rg BT 503.49 295.10 Td (per ) Tj ET Q q 0 0 0 rg BT 519.94 295.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 538.07 295.10 Td (below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 283.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 124.27 283.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.48 283.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.48 283.10 Td (, ) Tj ET Q q 0 0 0 rg BT 177.09 283.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 218.62 283.10 Td (to ) Tj ET Q q 0 0 0 rg BT 228.50 283.10 Td (an ) Tj ET Q q 0 0 0 rg BT 240.04 283.10 Td (average ) Tj ET Q q 0 0 0 rg BT 273.23 283.10 Td (dif) Tj ET Q q 0 0 0 rg BT 284.16 283.10 Td (ferential ) Tj ET Q q 0 0 0 rg BT 319.57 283.10 Td (of ) Tj ET Q q 0 0 0 rg BT 330.01 283.10 Td ($1.39 ) Tj ET Q q 0 0 0 rg BT 354.61 283.10 Td (per ) Tj ET Q q 0 0 0 rg BT 369.48 283.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 386.04 283.10 Td (below ) Tj ET Q q 0 0 0 rg BT 412.58 283.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 451.35 283.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.23 283.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.23 283.10 Td (. ) Tj ET Q q 0 0 0 rg BT 485.84 283.10 Td ( ) Tj ET Q q 0 0 0 rg BT 487.94 283.10 Td (Dif) Tj ET Q q 0 0 0 rg BT 501.09 283.10 Td (ferentials ) Tj ET Q q 0 0 0 rg BT 540.40 283.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.28 283.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 271.10 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 114.02 271.10 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 155.31 271.10 Td (region ) Tj ET Q q 0 0 0 rg BT 183.27 271.10 Td (can ) Tj ET Q q 0 0 0 rg BT 199.56 271.10 Td (fluctuate ) Tj ET Q q 0 0 0 rg BT 236.95 271.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 289.35 271.10 Td (on ) Tj ET Q q 0 0 0 rg BT 301.76 271.10 Td (a ) Tj ET Q q 0 0 0 rg BT 308.61 271.10 Td (month-to-month ) Tj ET Q q 0 0 0 rg BT 376.57 271.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 398.98 271.10 Td (due ) Tj ET Q q 0 0 0 rg BT 415.82 271.10 Td (to ) Tj ET Q q 0 0 0 rg BT 426.01 271.10 Td (weather) Tj ET Q q 0 0 0 rg BT 457.26 271.10 Td (, ) Tj ET Q q 0 0 0 rg BT 462.17 271.10 Td (refinery ) Tj ET Q q 0 0 0 rg BT 496.22 271.10 Td (or ) Tj ET Q q 0 0 0 rg BT 506.96 271.10 Td (transportation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 259.10 Td (issues, ) Tj ET Q q 0 0 0 rg BT 114.39 259.10 Td (and ) Tj ET Q q 0 0 0 rg BT 131.33 259.10 Td (Canadian ) Tj ET Q q 0 0 0 rg BT 171.59 259.10 Td (and ) Tj ET Q q 0 0 0 rg BT 188.53 259.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 208.82 259.10 Td (crude ) Tj ET Q q 0 0 0 rg BT 233.52 259.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 246.58 259.10 Td (price ) Tj ET Q q 0 0 0 rg BT 269.06 259.10 Td (index ) Tj ET Q q 0 0 0 rg BT 293.78 259.10 Td (volatility) Tj ET Q q 0 0 0 rg BT 329.24 259.10 Td (.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 235.10 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 99.22 235.10 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 143.92 235.10 Td (Contracts) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 183.93 235.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 211.10 Td (From ) Tj ET Q q 0 0 0 rg BT 91.77 211.10 Td (time ) Tj ET Q q 0 0 0 rg BT 112.15 211.10 Td (to ) Tj ET Q q 0 0 0 rg BT 122.54 211.10 Td (time, ) Tj ET Q q 0 0 0 rg BT 145.42 211.10 Td (we ) Tj ET Q q 0 0 0 rg BT 159.68 211.10 Td (enter ) Tj ET Q q 0 0 0 rg BT 182.27 211.10 Td (into ) Tj ET Q q 0 0 0 rg BT 200.43 211.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 213.59 211.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 256.18 211.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 294.88 211.10 Td (to ) Tj ET Q q 0 0 0 rg BT 305.26 211.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 338.41 211.10 Td (an ) Tj ET Q q 0 0 0 rg BT 350.46 211.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 391.93 211.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 418.42 211.10 Td (of ) Tj ET Q q 0 0 0 rg BT 429.35 211.10 Td (our ) Tj ET Q q 0 0 0 rg BT 445.29 211.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 483.99 211.10 Td (to ) Tj ET Q q 0 0 0 rg BT 494.37 211.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 542.53 211.10 Td (price ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 199.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 66.62 199.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 109.83 199.10 Td (with ) Tj ET Q q 0 0 0 rg BT 129.72 199.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 175.70 199.10 Td (future ) Tj ET Q q 0 0 0 rg BT 201.69 199.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 214.37 199.10 Td (production ) Tj ET Q q 0 0 0 rg BT 259.81 199.10 Td (and ) Tj ET Q q 0 0 0 rg BT 276.36 199.10 Td (to ) Tj ET Q q 0 0 0 rg BT 286.26 199.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 318.92 199.10 Td (more ) Tj ET Q q 0 0 0 rg BT 341.58 199.10 Td (certainty ) Tj ET Q q 0 0 0 rg BT 378.68 199.10 Td (to ) Tj ET Q q 0 0 0 rg BT 388.57 199.10 Td (our ) Tj ET Q q 0 0 0 rg BT 404.02 199.10 Td (future ) Tj ET Q q 0 0 0 rg BT 430.01 199.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 449.89 199.10 Td (flows.��) Tj ET Q q 0 0 0 rg BT 479.44 199.10 Td (These ) Tj ET Q q 0 0 0 rg BT 505.43 199.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 543.64 199.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 187.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 97.45 187.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 137.63 187.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.91 187.10 Td (price ) Tj ET Q q 0 0 0 rg BT 171.86 187.10 Td (floors, ) Tj ET Q q 0 0 0 rg BT 200.65 187.10 Td (collars, ) Tj ET Q q 0 0 0 rg BT 232.76 187.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 275.70 187.10 Td (collars, ) Tj ET Q q 0 0 0 rg BT 307.81 187.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 354.63 187.10 Td (swaps, ) Tj ET Q q 0 0 0 rg BT 384.53 187.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 431.36 187.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 458.76 187.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 499.47 187.10 Td (with ) Tj ET Q q 0 0 0 rg BT 520.21 187.10 Td (a ) Tj ET Q q 0 0 0 rg BT 527.61 187.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 547.23 187.10 Td (put, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 175.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 175.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 88.94 175.10 Td (swaps.) Tj ET Q endstream endobj 103 0 obj <> endobj 104 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.59 713.10 Td (following ) Tj ET Q q 0 0 0 rg BT 127.01 713.10 Td (table ) Tj ET Q q 0 0 0 rg BT 148.99 713.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 199.29 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 214.05 713.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 243.80 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 259.67 713.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 307.77 713.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 350.29 713.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 388.92 713.10 Td (had ) Tj ET Q q 0 0 0 rg BT 405.90 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 418.44 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 434.31 713.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 474.62 713.10 Td (results ) Tj ET Q q 0 0 0 rg BT 503.26 713.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.46 713.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.46 713.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.51 713.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.44 701.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.44 701.10 Td (:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 662.60 238.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 288.00 662.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 292.00 662.60 51.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 343.00 662.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 347.00 662.60 51.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 398.00 662.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 402.00 662.60 51.00 -14.00 re f /GS0 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gs 0.8 0.8 0.8 rg /GS0 gs 398.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 402.00 492.60 51.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 453.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 457.00 492.60 51.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 508.00 492.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 512.00 492.60 51.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 676.6 m 343 676.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 676.6 m 347 676.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 676.6 m 398 676.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 398 676.6 m 402 676.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 676.6 m 453 676.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 453 676.6 m 457 676.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 676.6 m 508 676.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 662.6 m 288 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 662.6 m 343 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 662.6 m 398 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 662.6 m 453 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 662.6 m 508 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 662.6 m 563 662.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 620.6 m 343 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 620.6 m 398 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 620.6 m 453 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 620.6 m 508 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 620.6 m 343 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 607.6 m 343 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 605.6 m 343 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 620.6 m 398 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 607.6 m 398 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 605.6 m 398 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 620.6 m 453 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 607.6 m 453 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 605.6 m 453 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 620.6 m 508 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 607.6 m 508 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 605.6 m 508 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 620.6 m 563 620.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 607.6 m 563 607.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 605.6 m 563 605.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 549.6 m 343 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 549.6 m 398 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 549.6 m 453 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 549.6 m 508 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 549.6 m 343 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 536.6 m 343 536.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 534.6 m 343 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 549.6 m 398 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 536.6 m 398 536.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 534.6 m 398 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 549.6 m 453 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 536.6 m 453 536.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 534.6 m 453 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 549.6 m 508 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 536.6 m 508 536.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 534.6 m 508 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 549.6 m 563 549.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 536.6 m 563 536.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 534.6 m 563 534.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 478.6 m 343 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 478.6 m 398 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 478.6 m 453 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 478.6 m 508 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 478.6 m 343 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 465.6 m 343 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 292 463.6 m 343 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 478.6 m 398 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 465.6 m 398 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 463.6 m 398 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 478.6 m 453 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 465.6 m 453 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 402 463.6 m 453 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 478.6 m 508 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 465.6 m 508 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 457 463.6 m 508 463.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 478.6 m 563 478.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 465.6 m 563 465.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 512 463.6 m 563 463.6 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.50 681.06 Td (Three Months Ended) Tj ET Q BT /F4 9.00 Tf ET q 0 0 0 rg BT 52.50 667.05 Td (In thousands) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 301.55 666.85 Td (March 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 359.65 666.85 Td (June 30) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.85 666.85 Td (September 30) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.55 666.85 Td (December 31) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 522.30 666.85 Td (Full ) Tj ET Q q 0 0 0 rg BT 536.90 666.85 Td (Y) Tj ET Q q 0 0 0 rg BT 541.87 666.85 Td (ear) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 653.05 Td (2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 639.06 Td (Payment on settlements of commodity derivatives) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.50 639.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.75 639.06 Td (\(33,357) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.50 639.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.50 639.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.75 639.06 Td (\(54,770) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 394.50 639.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.50 639.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 639.06 Td (\(61,61) Tj ET Q q 0 0 0 rg BT 445.00 639.06 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.50 639.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.50 639.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 639.06 Td (\(25,510) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 639.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 639.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 639.06 Td (\(175,248) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 639.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 625.06 Td (Noncash fair value gains \(losses\) on commodity derivatives) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 267.70 629.14 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.75 625.06 Td (\(15,468) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.50 625.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.75 625.06 Td (\(41,429) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 394.50 625.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.75 625.06 Td (17,034) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.25 625.06 Td (236,198) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.25 625.06 Td (196,335) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 611.06 Td (Commodity derivatives income \(expense\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.50 611.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.75 611.06 Td (\(48,825) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.50 611.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.50 611.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.75 611.06 Td (\(96,199) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 394.50 611.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.50 611.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 611.06 Td (\(44,577) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.50 611.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.50 611.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 475.25 611.06 Td (210,688) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 611.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 611.06 Td (21,087) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 582.05 Td (2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 568.06 Td (Receipt \(payment\) on settlements of commodity derivatives) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.50 568.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.75 568.06 Td (\(26,940) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.50 568.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.50 568.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.75 568.06 Td (\(1) Tj ET Q q 0 0 0 rg BT 374.25 568.06 Td (1,767) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 394.50 568.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.50 568.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 440.50 568.06 Td (89) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.50 568.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 481.25 568.06 Td (\(9,177) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 568.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 568.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.75 568.06 Td (\(47,795) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 568.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 554.06 Td (Noncash fair value gains \(losses\) on commodity derivatives) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 267.70 558.14 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.75 554.06 Td (51,542) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.75 554.06 Td (22,140) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 554.06 Td (\(25,352) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.50 554.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 554.06 Td (\(78,1) Tj ET Q q 0 0 0 rg BT 495.50 554.06 Td (1) Tj ET Q q 0 0 0 rg BT 500.00 554.06 Td (1) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 554.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.75 554.06 Td (\(29,781) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 554.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 540.06 Td (Commodity derivatives income \(expense\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.50 540.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.75 540.06 Td (24,602) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.50 540.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.75 540.06 Td (10,373) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.50 540.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 421.75 540.06 Td (\(25,263) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.50 540.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.50 540.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 540.06 Td (\(87,288) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 540.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 540.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.75 540.06 Td (\(77,576) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 540.06 Td (\)) Tj ET Q BT /F2 9.00 Tf ET q 0 0 0 rg BT 52.50 511.05 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 497.06 Td (Receipt \(payment\) on settlements of commodity derivatives) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.50 497.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 314.75 497.06 Td (72,227) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.50 497.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 369.75 497.06 Td (52,026) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.50 497.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 426.25 497.06 Td (\(7,295) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 449.50 497.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.50 497.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 497.06 Td (\(32,777) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 497.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 497.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 534.75 497.06 Td (84,181) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 52.50 483.06 Td (Noncash fair value gains \(losses\) on commodity derivatives) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 267.70 487.14 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.75 483.06 Td (\(95,053) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.50 483.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 362.25 483.06 Td (\(150,235) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 394.50 483.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.75 483.06 Td (28,519) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 484.25 483.06 Td (4,644) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 483.06 Td (\(212,125) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 483.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 64.50 469.06 Td (Commodity derivatives income \(expense\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 294.50 469.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 311.75 469.06 Td (\(22,826) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 339.50 469.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.50 469.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 366.75 469.06 Td (\(98,209) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 394.50 469.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 404.50 469.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 424.75 469.06 Td (21,224) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 459.50 469.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 476.75 469.06 Td (\(28,133) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 504.50 469.06 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 514.50 469.06 Td ($) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 527.25 469.06 Td (\(127,944) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 559.50 469.06 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 441.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 441.10 Td (Noncash ) Tj ET Q q 0 0 0 rg BT 104.68 441.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 120.75 441.10 Td (value ) Tj ET Q q 0 0 0 rg BT 144.60 441.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 167.90 441.10 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 200.64 441.10 Td (on ) Tj ET Q q 0 0 0 rg BT 212.84 441.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 260.58 441.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 306.65 441.10 Td (is ) Tj ET Q q 0 0 0 rg BT 315.51 441.10 Td (a ) Tj ET Q q 0 0 0 rg BT 322.14 441.10 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 367.32 441.10 Td ( ) Tj ET Q q 0 0 0 rg BT 369.52 441.10 Td (measure. ) Tj ET Q q 0 0 0 rg BT 407.52 441.10 Td ( ) Tj ET Q q 0 0 0 rg BT 409.72 441.10 Td (See ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 426.35 441.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 469.65 441.10 Td (Results ) Tj ET Q q 0 0 0 rg BT 500.73 441.10 Td (T) Tj ET Q q 0 0 0 rg BT 505.37 441.10 Td (able ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.78 441.10 Td (above ) Tj ET Q q 0 0 0 rg BT 550.85 441.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 429.10 Td (a ) Tj ET Q q 0 0 0 rg BT 75.98 429.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 121.70 429.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.07 429.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.33 429.10 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 209.35 429.10 Td (between ) Tj ET Q q 0 0 0 rg BT 246.71 429.10 Td (noncash ) Tj ET Q q 0 0 0 rg BT 283.53 429.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 301.45 429.10 Td (value ) Tj ET Q q 0 0 0 rg BT 327.15 429.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 352.30 429.10 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 386.90 429.10 Td (on ) Tj ET Q q 0 0 0 rg BT 400.94 429.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 450.54 429.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 498.45 429.10 Td (to ) Tj ET Q q 0 0 0 rg BT 510.28 429.10 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.71 429.10 Td (Commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 417.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 112.89 417.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 146.61 417.10 Td (\(income\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.70 417.10 Td (� ) Tj ET Q q 0 0 0 rg BT 188.65 417.10 Td (in ) Tj ET Q q 0 0 0 rg BT 197.94 417.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.67 417.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 265.96 417.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 311.36 417.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.20 417.10 Td (Operations. ) Tj ET Q q 0 0 0 rg BT 369.09 417.10 Td ( ) Tj ET Q q 0 0 0 rg BT 370.61 417.10 Td (See ) Tj ET Q q 0 0 0 rg BT 386.56 417.10 Td (also ) Tj ET Q q 0 0 0 rg BT 404.18 417.10 Td (the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 417.91 417.10 Td (Glossary ) Tj ET Q q 0 0 0 rg BT 455.54 417.10 Td (and ) Tj ET Q q 0 0 0 rg BT 472.05 417.10 Td (Selected ) Tj ET Q q 0 0 0 rg BT 506.77 417.10 Td (Abbr) Tj ET Q q 0 0 0 rg BT 526.39 417.10 Td (eviations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.50 417.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 405.10 Td (for ) Tj ET Q q 0 0 0 rg BT 81.66 405.10 Td (the ) Tj ET Q q 0 0 0 rg BT 96.38 405.10 Td (definition ) Tj ET Q q 0 0 0 rg BT 137.76 405.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.59 405.10 Td (noncash ) Tj ET Q q 0 0 0 rg BT 183.86 405.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 200.23 405.10 Td (value ) Tj ET Q q 0 0 0 rg BT 224.39 405.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 248.00 405.10 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 281.05 405.10 Td (on ) Tj ET Q q 0 0 0 rg BT 293.55 405.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 341.60 405.10 Td (derivatives.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 381.10 Td (In ) Tj ET Q q 0 0 0 rg BT 78.55 381.10 Td (order ) Tj ET Q q 0 0 0 rg BT 102.38 381.10 Td (to ) Tj ET Q q 0 0 0 rg BT 112.88 381.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 146.15 381.10 Td (a ) Tj ET Q q 0 0 0 rg BT 153.32 381.10 Td (level ) Tj ET Q q 0 0 0 rg BT 175.47 381.10 Td (of ) Tj ET Q q 0 0 0 rg BT 186.53 381.10 Td (price ) Tj ET Q q 0 0 0 rg BT 209.24 381.10 Td (protection ) Tj ET Q q 0 0 0 rg BT 252.50 381.10 Td (to ) Tj ET Q q 0 0 0 rg BT 263.01 381.10 Td (a ) Tj ET Q q 0 0 0 rg BT 270.17 381.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 301.78 381.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.84 381.10 Td (our ) Tj ET Q q 0 0 0 rg BT 328.89 381.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 342.17 381.10 Td (production, ) Tj ET Q q 0 0 0 rg BT 390.72 381.10 Td (we ) Tj ET Q q 0 0 0 rg BT 405.11 381.10 Td (have ) Tj ET Q q 0 0 0 rg BT 426.71 381.10 Td (hedged ) Tj ET Q q 0 0 0 rg BT 458.31 381.10 Td (a ) Tj ET Q q 0 0 0 rg BT 465.47 381.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 497.08 381.10 Td (of ) Tj ET Q q 0 0 0 rg BT 508.14 381.10 Td (our ) Tj ET Q q 0 0 0 rg BT 524.19 381.10 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 369.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 62.60 369.10 Td (production ) Tj ET Q q 0 0 0 rg BT 108.47 369.10 Td (through ) Tj ET Q q 0 0 0 rg BT 142.12 369.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 164.67 369.10 Td (and ) Tj ET Q q 0 0 0 rg BT 181.65 369.10 Td (also ) Tj ET Q q 0 0 0 rg BT 200.30 369.10 Td (have ) Tj ET Q q 0 0 0 rg BT 221.72 369.10 Td (begun ) Tj ET Q q 0 0 0 rg BT 248.70 369.10 Td (to ) Tj ET Q q 0 0 0 rg BT 259.03 369.10 Td (enter ) Tj ET Q q 0 0 0 rg BT 281.56 369.10 Td (into ) Tj ET Q q 0 0 0 rg BT 299.66 369.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 342.19 369.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 380.83 369.10 Td (for ) Tj ET Q q 0 0 0 rg BT 395.03 369.10 Td (2020 ) Tj ET Q q 0 0 0 rg BT 417.58 369.10 Td (using ) Tj ET Q q 0 0 0 rg BT 441.79 369.10 Td (both ) Tj ET Q q 0 0 0 rg BT 462.11 369.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 501.32 369.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.30 369.10 Td (LLS ) Tj ET Q q 0 0 0 rg BT 538.63 369.10 Td (fixed-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 357.10 Td (price ) Tj ET Q q 0 0 0 rg BT 72.01 357.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 98.97 357.10 Td (and ) Tj ET Q q 0 0 0 rg BT 115.93 357.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 158.43 357.10 Td (collars. ) Tj ET Q q 0 0 0 rg BT 190.10 357.10 Td ( ) Tj ET Q q 0 0 0 rg BT 192.62 357.10 Td (See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.58 357.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 231.54 357.10 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 241.54 357.10 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 246.56 357.10 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 295.19 357.10 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 339.92 357.10 Td (Contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.36 357.10 Td (, ) Tj ET Q q 0 0 0 rg BT 384.39 357.10 Td (to ) Tj ET Q q 0 0 0 rg BT 394.69 357.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.42 357.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 464.72 357.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 504.45 357.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 550.85 357.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 345.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 92.76 345.10 Td (details ) Tj ET Q q 0 0 0 rg BT 122.13 345.10 Td (of ) Tj ET Q q 0 0 0 rg BT 133.72 345.10 Td (our ) Tj ET Q q 0 0 0 rg BT 150.32 345.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 200.25 345.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 249.06 345.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 292.31 345.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 331.67 345.10 Td (as ) Tj ET Q q 0 0 0 rg BT 343.27 345.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.86 345.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 414.21 345.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.21 345.10 Td (, ) Tj ET Q q 0 0 0 rg BT 439.98 345.10 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 457.68 345.10 Td (Market ) Tj ET Q q 0 0 0 rg BT 489.82 345.10 Td (Risk ) Tj ET Q q 0 0 0 rg BT 510.31 345.10 Td (Management) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 333.10 Td (below ) Tj ET Q q 0 0 0 rg BT 76.19 333.10 Td (for ) Tj ET Q q 0 0 0 rg BT 90.11 333.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 132.35 333.10 Td (discussion. ) Tj ET Q q 0 0 0 rg BT 178.78 333.10 Td ( ) Tj ET Q q 0 0 0 rg BT 181.03 333.10 Td (In ) Tj ET Q q 0 0 0 rg BT 191.62 333.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 229.15 333.10 Td (the ) Tj ET Q q 0 0 0 rg BT 243.62 333.10 Td (following ) Tj ET Q q 0 0 0 rg BT 284.76 333.10 Td (table ) Tj ET Q q 0 0 0 rg BT 306.45 333.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 356.47 333.10 Td (our ) Tj ET Q q 0 0 0 rg BT 372.05 333.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 384.86 333.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 427.10 333.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 465.45 333.10 Td (as ) Tj ET Q q 0 0 0 rg BT 476.03 333.10 Td (of ) Tj ET Q q 0 0 0 rg BT 486.62 333.10 Td (February ) Tj ET Q q 0 0 0 rg BT 524.97 333.10 Td (26, ) Tj ET Q q 0 0 0 rg BT 539.73 333.10 Td (2019:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 301.60 53.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 102.00 301.60 140.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 242.00 301.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 306.00 301.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 370.00 301.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 434.00 301.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 301.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 280.60 53.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 102.00 280.60 140.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 242.00 280.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 306.00 280.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 370.00 280.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 434.00 280.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 280.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 225.60 53.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 102.00 225.60 140.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 242.00 225.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 306.00 225.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 370.00 225.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 434.00 225.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 225.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 204.60 53.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 102.00 204.60 140.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 242.00 204.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 306.00 204.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 370.00 204.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 434.00 204.60 64.00 -21.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 204.60 64.00 -21.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 301.6 m 306 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 301.6 m 370 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 301.6 m 434 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 301.6 m 498 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 301.6 m 562 301.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 242 149.60000000000002 m 306 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 149.60000000000002 m 370 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 149.60000000000002 m 434 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 149.60000000000002 m 498 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 149.60000000000002 m 562 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 306 149.60000000000002 m 370 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 370 149.60000000000002 m 434 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 434 149.60000000000002 m 498 149.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 149.60000000000002 m 562 149.60000000000002 l s BT /F2 8.00 Tf ET q 0 0 0 rg BT 257.25 305.83 Td (Jan. 2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 321.05 305.83 Td (Feb. 2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 380.85 313.83 Td (Mar) Tj ET Q q 0 0 0 rg BT 395.22 313.83 Td (. ) Tj ET Q BT /F5 8.00 Tf ET q 0 0 0 rg BT 399.22 313.83 Td (�) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 403.67 313.83 Td ( June ) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 393.50 305.83 Td (2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 451.35 305.83 Td (2H 2019) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 521.50 305.83 Td (2020) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.75 292.83 Td (WTI) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 59.85 284.83 Td (NYMEX) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.50 284.85 Td (V) Tj ET Q q 0 0 0 rg BT 109.76 284.85 Td (olumes Hedged \(Bbls/d\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.50 284.85 Td (3,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.50 284.85 Td (3,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.50 284.85 Td (3,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.50 284.85 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.50 284.85 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 56.30 271.85 Td (Fixed-Price) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.55 263.85 Td (Swaps) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.50 263.85 Td (Swap Price) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 140.71 267.48 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.50 263.85 Td ($59.05) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 263.85 Td ($59.05) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.50 263.85 Td ($59.05) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 461.50 263.85 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 525.50 263.85 Td (�) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 55.95 250.83 Td (Argus LLS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.50 250.85 Td (V) Tj ET Q q 0 0 0 rg BT 109.76 250.85 Td (olumes Hedged \(Bbls/d\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.50 250.85 Td (7,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.50 250.85 Td (9,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.50 250.85 Td (12,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.50 250.85 Td (12,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.50 250.85 Td (2,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 56.30 237.85 Td (Fixed-Price) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.55 229.85 Td (Swaps) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.50 229.85 Td (Swap Price) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 140.71 233.48 Td (\(1\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.50 229.85 Td ($66.57) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 229.85 Td ($65.14) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.50 229.85 Td ($64.67) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.50 229.85 Td ($64.67) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 229.85 Td ($60.89) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 66.75 216.83 Td (WTI) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 59.85 208.83 Td (NYMEX) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.50 208.85 Td (V) Tj ET Q q 0 0 0 rg BT 109.76 208.85 Td (olumes Hedged \(Bbls/d\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.50 208.85 Td (18,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 208.85 Td (18,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.50 208.85 Td (18,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.50 208.85 Td (22,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.50 208.85 Td (1,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.85 187.85 Td (3-W) Tj ET Q q 0 0 0 rg BT 65.74 187.85 Td (ay Collars) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.50 187.85 Td (Sold Put Price / Floor / Ceiling Price) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 222.05 191.48 Td (\(1\)\(2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.25 195.85 Td ($48.84 / $56.84 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.50 187.85 Td ($69.94) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.25 195.85 Td ($48.84 / $56.84 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 187.85 Td ($69.94) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.25 195.85 Td ($48.84 / $56.84 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.50 187.85 Td ($69.94) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.25 195.85 Td ($48.55 / $56.55 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.50 187.85 Td ($69.17) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.25 195.85 Td ($50.00 / $60.00 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 187.85 Td ($82.50) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 55.95 174.83 Td (Argus LLS) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.50 174.85 Td (V) Tj ET Q q 0 0 0 rg BT 109.76 174.85 Td (olumes Hedged \(Bbls/d\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 264.50 174.85 Td (5,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 328.50 174.85 Td (5,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 392.50 174.85 Td (5,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 456.50 174.85 Td (5,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.50 174.85 Td (1,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 51.85 153.85 Td (3-W) Tj ET Q q 0 0 0 rg BT 65.74 153.85 Td (ay Collars) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.50 153.85 Td (Sold Put Price / Floor / Ceiling Price) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 222.05 157.48 Td (\(1\)\(2\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 246.25 161.85 Td ($54.73 / $63.09 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.50 153.85 Td ($79.93) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 310.25 161.85 Td ($54.73 / $63.09 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 153.85 Td ($79.93) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 374.25 161.85 Td ($54.73 / $63.09 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.50 153.85 Td ($79.93) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 438.25 161.85 Td ($54.73 / $63.09 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.50 153.85 Td ($79.93) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 502.25 161.85 Td ($55.00 / $65.00 /) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 518.50 153.85 Td ($86.80) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 104.50 140.85 Td (T) Tj ET Q q 0 0 0 rg BT 108.83 140.85 Td (otal ) Tj ET Q q 0 0 0 rg BT 122.68 140.85 Td (V) Tj ET Q q 0 0 0 rg BT 127.43 140.85 Td (olumes Hedged \(Bbls/d\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 262.50 140.85 Td (34,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 326.50 140.85 Td (36,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 390.50 140.85 Td (39,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.50 140.85 Td (39,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.50 140.85 Td (4,000) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 113.10 Td (A) Tj ET Q q 0 0 0 rg BT 73.98 113.10 Td (verages ) Tj ET Q q 0 0 0 rg BT 107.02 113.10 Td (are ) Tj ET Q q 0 0 0 rg BT 121.72 113.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 154.22 113.10 Td (weighted.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 101.10 Td (If ) Tj ET Q q 0 0 0 rg BT 76.36 101.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 89.12 101.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 115.20 101.10 Td (were ) Tj ET Q q 0 0 0 rg BT 136.83 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.81 101.10 Td (average ) Tj ET Q q 0 0 0 rg BT 180.09 101.10 Td (less ) Tj ET Q q 0 0 0 rg BT 197.29 101.10 Td (than ) Tj ET Q q 0 0 0 rg BT 216.71 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 231.13 101.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 250.00 101.10 Td (put ) Tj ET Q q 0 0 0 rg BT 264.98 101.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 289.67 101.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 322.96 101.10 Td (on ) Tj ET Q q 0 0 0 rg BT 335.16 101.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 378.46 101.10 Td (would ) Tj ET Q q 0 0 0 rg BT 405.66 101.10 Td (be ) Tj ET Q q 0 0 0 rg BT 417.30 101.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 447.83 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 457.81 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.23 101.10 Td (dif) Tj ET Q q 0 0 0 rg BT 483.16 101.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 514.77 101.10 Td (between ) Tj ET Q q 0 0 0 rg BT 550.29 101.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 89.10 Td (floor ) Tj ET Q q 0 0 0 rg BT 89.44 89.10 Td (price ) Tj ET Q q 0 0 0 rg BT 111.92 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 128.86 89.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.58 89.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 162.75 89.10 Td (put ) Tj ET Q q 0 0 0 rg BT 178.03 89.10 Td (price.) Tj ET Q endstream endobj 105 0 obj <> endobj 106 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (52) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 713.10 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 117.07 713.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 158.83 713.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 196.71 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 206.27 713.10 Td (place ) Tj ET Q q 0 0 0 rg BT 229.15 713.10 Td (for ) Tj ET Q q 0 0 0 rg BT 242.60 713.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 264.38 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 280.61 713.10 Td (2020 ) Tj ET Q q 0 0 0 rg BT 302.39 713.10 Td (include ) Tj ET Q q 0 0 0 rg BT 333.61 713.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 379.26 713.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 405.48 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 421.71 713.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 463.47 713.10 Td (collars. ) Tj ET Q q 0 0 0 rg BT 494.41 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 496.19 713.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 522.41 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 534.20 713.10 Td (current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 88.97 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 100.13 701.10 Td (place ) Tj ET Q q 0 0 0 rg BT 124.61 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 142.43 701.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 182.47 701.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 196.41 701.10 Td (futures ) Tj ET Q q 0 0 0 rg BT 227.56 701.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 254.81 701.10 Td (as ) Tj ET Q q 0 0 0 rg BT 266.52 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 278.24 701.10 Td (February ) Tj ET Q q 0 0 0 rg BT 317.71 701.10 Td (26, ) Tj ET Q q 0 0 0 rg BT 333.59 701.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 359.48 701.10 Td (which ) Tj ET Q q 0 0 0 rg BT 387.29 701.10 Td (average ) Tj ET Q q 0 0 0 rg BT 421.76 701.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 482.90 701.10 Td ($57 ) Tj ET Q q 0 0 0 rg BT 501.28 701.10 Td (per ) Tj ET Q q 0 0 0 rg BT 517.43 701.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 535.26 701.10 Td (for ) Tj ET Q q 0 0 0 rg BT 550.30 701.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (remainder ) Tj ET Q q 0 0 0 rg BT 93.09 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.48 689.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 130.04 689.10 Td (we ) Tj ET Q q 0 0 0 rg BT 144.76 689.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 183.92 689.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 213.07 689.10 Td (that ) Tj ET Q q 0 0 0 rg BT 231.13 689.10 Td (we ) Tj ET Q q 0 0 0 rg BT 245.85 689.10 Td (would ) Tj ET Q q 0 0 0 rg BT 273.91 689.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 305.83 689.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 326.66 689.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 368.05 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 379.44 689.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 440.26 689.10 Td ($10 ) Tj ET Q q 0 0 0 rg BT 458.32 689.10 Td (million ) Tj ET Q q 0 0 0 rg BT 490.27 689.10 Td (during ) Tj ET Q q 0 0 0 rg BT 519.44 689.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 542.50 689.10 Td (upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 93.27 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.27 677.10 Td (these ) Tj ET Q q 0 0 0 rg BT 127.49 677.10 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 168.75 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 183.64 677.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 216.31 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 227.31 677.10 Td (which ) Tj ET Q q 0 0 0 rg BT 254.42 677.10 Td (is ) Tj ET Q q 0 0 0 rg BT 263.76 677.10 Td (dependent ) Tj ET Q q 0 0 0 rg BT 307.52 677.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 330.19 677.10 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 380.08 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 390.53 677.10 Td (future ) Tj ET Q q 0 0 0 rg BT 417.07 677.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 456.41 677.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 469.64 677.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 496.18 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 506.63 677.10 Td (relation ) Tj ET Q q 0 0 0 rg BT 539.85 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 550.30 677.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 75.72 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 86.40 665.10 Td (our ) Tj ET Q q 0 0 0 rg BT 102.08 665.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 124.42 665.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 170.63 665.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 197.42 665.10 Td (which ) Tj ET Q q 0 0 0 rg BT 224.20 665.10 Td (have ) Tj ET Q q 0 0 0 rg BT 245.43 665.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 284.43 665.10 Td (average ) Tj ET Q q 0 0 0 rg BT 317.86 665.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 344.08 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 354.76 665.10 Td ($59.05 ) Tj ET Q q 0 0 0 rg BT 384.60 665.10 Td (per ) Tj ET Q q 0 0 0 rg BT 399.72 665.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 416.51 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 433.30 665.10 Td ($64.80 ) Tj ET Q q 0 0 0 rg BT 463.15 665.10 Td (per ) Tj ET Q q 0 0 0 rg BT 478.26 665.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 495.05 665.10 Td (for ) Tj ET Q q 0 0 0 rg BT 509.06 665.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 548.07 665.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (LLS ) Tj ET Q q 0 0 0 rg BT 70.20 653.10 Td (hedges, ) Tj ET Q q 0 0 0 rg BT 103.39 653.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 151.05 653.10 Td (, ) Tj ET Q q 0 0 0 rg BT 156.47 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 173.83 653.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 213.40 653.10 Td (average ) Tj ET Q q 0 0 0 rg BT 247.41 653.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 277.54 653.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 304.33 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.58 653.10 Td (our ) Tj ET Q q 0 0 0 rg BT 331.83 653.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 354.75 653.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 397.65 653.10 Td (collars ) Tj ET Q q 0 0 0 rg BT 427.22 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 438.47 653.10 Td ($69.52 ) Tj ET Q q 0 0 0 rg BT 468.89 653.10 Td (per ) Tj ET Q q 0 0 0 rg BT 484.58 653.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 501.95 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 519.31 653.10 Td ($79.93 ) Tj ET Q q 0 0 0 rg BT 549.73 653.10 Td (per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 67.44 641.10 Td (for ) Tj ET Q q 0 0 0 rg BT 82.59 641.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 122.74 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 140.67 641.10 Td (LLS ) Tj ET Q q 0 0 0 rg BT 161.94 641.10 Td (hedges, ) Tj ET Q q 0 0 0 rg BT 195.70 641.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 243.36 641.10 Td (. ) Tj ET Q q 0 0 0 rg BT 249.35 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 252.84 641.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 290.77 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 302.04 641.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 351.08 641.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 380.95 641.10 Td (expiration ) Tj ET Q q 0 0 0 rg BT 424.98 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 436.80 641.10 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 478.88 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 496.81 641.10 Td (new ) Tj ET Q q 0 0 0 rg BT 516.96 641.10 Td (commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 87.50 629.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 118.83 629.10 Td (into ) Tj ET Q q 0 0 0 rg BT 136.30 629.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 160.41 629.10 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 209.53 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 219.22 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.35 629.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 273.57 629.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 289.36 629.10 Td (value ) Tj ET Q q 0 0 0 rg BT 312.92 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.16 629.10 Td (our ) Tj ET Q q 0 0 0 rg BT 338.40 629.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 350.86 629.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 392.75 629.10 Td (contracts.��Because ) Tj ET Q q 0 0 0 rg BT 471.57 629.10 Td (we ) Tj ET Q q 0 0 0 rg BT 485.14 629.10 Td (do ) Tj ET Q q 0 0 0 rg BT 497.05 629.10 Td (not ) Tj ET Q q 0 0 0 rg BT 511.73 629.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 538.63 629.10 Td (hedge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 96.08 617.10 Td (for ) Tj ET Q q 0 0 0 rg BT 110.44 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 126.47 617.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 174.73 617.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 217.42 617.10 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 258.71 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.63 617.10 Td (period-to-period ) Tj ET Q q 0 0 0 rg BT 341.87 617.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 376.78 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 387.26 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 402.18 617.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 418.77 617.10 Td (value ) Tj ET Q q 0 0 0 rg BT 443.13 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.16 617.10 Td (these ) Tj ET Q q 0 0 0 rg BT 477.41 617.10 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 518.71 617.10 Td (as ) Tj ET Q q 0 0 0 rg BT 529.74 617.10 Td (outlined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 78.38 605.10 Td (are ) Tj ET Q q 0 0 0 rg BT 93.08 605.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 139.45 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 149.72 605.10 Td (our ) Tj ET Q q 0 0 0 rg BT 165.55 605.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 210.27 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 221.10 605.10 Td (operations.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (Production ) Tj ET Q q 0 0 0 rg BT 98.12 581.10 Td (Expenses) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (Lease ) Tj ET Q q 0 0 0 rg BT 75.33 557.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 118.94 557.10 Td (Expenses) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 516.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 516.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 516.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 516.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 516.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 516.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 516.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 486.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 486.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 486.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 486.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 486.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 486.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 486.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 531.6 m 423.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 531.6 m 427.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 531.6 m 492.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 531.6 m 496.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 531.6 m 561.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 516.6 m 354.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 531.6 m 423.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 516.6 m 423.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 531.6 m 492.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 516.6 m 492.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 531.6 m 561.5 531.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 516.6 m 561.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 516.6 m 354.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 516.6 m 423.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 516.6 m 492.5 516.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 516.6 m 561.5 516.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.95 536.27 Td (Y) Tj ET Q q 0 0 0 rg BT 413.67 536.27 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.00 521.31 Td (In thousands, except per) Tj ET Q q 0 0 0 rg BT 149.55 521.31 Td (-BOE data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 521.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 521.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 521.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 506.27 Td (T) Tj ET Q q 0 0 0 rg BT 57.76 506.27 Td (otal lease operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 506.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 506.27 Td (489,720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 506.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 506.27 Td (447,799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 506.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 506.27 Td (414,937) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 476.27 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 476.27 Td (otal lease operating expenses per BOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 476.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 476.27 Td (22.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 476.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 476.27 Td (20.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 476.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 476.27 Td (17.71) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 448.10 Td (T) Tj ET Q q 0 0 0 rg BT 72.91 448.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 91.02 448.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 114.12 448.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 154.99 448.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 190.31 448.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.53 448.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.53 448.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.65 448.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.40 448.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.51 448.10 Td ($41.9 ) Tj ET Q q 0 0 0 rg BT 309.13 448.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.02 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.13 448.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.46 448.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.79 448.10 Td (\), ) Tj ET Q q 0 0 0 rg BT 366.73 448.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.18 448.10 Td ($1.89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.68 448.10 Td ( ) Tj ET Q q 0 0 0 rg BT 403.79 448.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.12 448.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.45 448.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 426.89 448.10 Td (on ) Tj ET Q q 0 0 0 rg BT 440.00 448.10 Td (a ) Tj ET Q q 0 0 0 rg BT 447.56 448.10 Td (per) Tj ET Q q 0 0 0 rg BT 460.12 448.10 Td (-BOE ) Tj ET Q q 0 0 0 rg BT 486.57 448.10 Td (basis, ) Tj ET Q q 0 0 0 rg BT 512.18 448.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 554.72 448.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 436.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 75.34 436.10 Td ( ) Tj ET Q q 0 0 0 rg BT 78.68 436.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 97.57 436.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 120.90 436.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 162.00 436.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 201.44 436.10 Td (during ) Tj ET Q q 0 0 0 rg BT 230.89 436.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 254.23 436.10 Td (were ) Tj ET Q q 0 0 0 rg BT 277.00 436.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 317.55 436.10 Td (impacted ) Tj ET Q q 0 0 0 rg BT 357.54 436.10 Td (by ) Tj ET Q q 0 0 0 rg BT 370.88 436.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 411.98 436.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 451.42 436.10 Td (related ) Tj ET Q q 0 0 0 rg BT 481.96 436.10 Td (to ) Tj ET Q q 0 0 0 rg BT 493.08 436.10 Td (our ) Tj ET Q q 0 0 0 rg BT 509.75 436.10 Td (non-operated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 424.10 Td (working ) Tj ET Q q 0 0 0 rg BT 86.26 424.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 119.12 424.10 Td (in ) Tj ET Q q 0 0 0 rg BT 130.33 424.10 Td (Salt ) Tj ET Q q 0 0 0 rg BT 149.32 424.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 176.63 424.10 Td (Field, ) Tj ET Q q 0 0 0 rg BT 203.11 424.10 Td (which ) Tj ET Q q 0 0 0 rg BT 230.98 424.10 Td (was ) Tj ET Q q 0 0 0 rg BT 249.96 424.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 287.82 424.10 Td (on ) Tj ET Q q 0 0 0 rg BT 301.25 424.10 Td (June ) Tj ET Q q 0 0 0 rg BT 323.01 424.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 338.94 424.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 364.87 424.10 Td (and ) Tj ET Q q 0 0 0 rg BT 382.74 424.10 Td (has ) Tj ET Q q 0 0 0 rg BT 399.50 424.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 428.47 424.10 Td (per) Tj ET Q q 0 0 0 rg BT 441.04 424.10 Td (-BOE ) Tj ET Q q 0 0 0 rg BT 467.80 424.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 509.00 424.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 528.54 424.10 Td (than ) Tj ET Q q 0 0 0 rg BT 549.18 424.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 90.34 412.10 Td (average, ) Tj ET Q q 0 0 0 rg BT 127.00 412.10 Td (along ) Tj ET Q q 0 0 0 rg BT 152.31 412.10 Td (with ) Tj ET Q q 0 0 0 rg BT 173.17 412.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 214.00 412.10 Td (workover ) Tj ET Q q 0 0 0 rg BT 255.41 412.10 Td (and ) Tj ET Q q 0 0 0 rg BT 272.93 412.10 Td (other ) Tj ET Q q 0 0 0 rg BT 296.56 412.10 Td (repair ) Tj ET Q q 0 0 0 rg BT 322.96 412.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 356.03 412.10 Td (at ) Tj ET Q q 0 0 0 rg BT 366.33 412.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 396.62 412.10 Td (fields, ) Tj ET Q q 0 0 0 rg BT 424.42 412.10 Td (and ) Tj ET Q q 0 0 0 rg BT 441.94 412.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 482.78 412.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 496.67 410.67 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.92 412.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 537.21 412.10 Td (due ) Tj ET Q q 0 0 0 rg BT 554.74 412.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 400.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 77.55 400.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 90.60 400.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 116.98 400.10 Td (and ) Tj ET Q q 0 0 0 rg BT 133.92 400.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 147.81 398.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.06 400.10 Td ( ) Tj ET Q q 0 0 0 rg BT 153.56 400.10 Td (injection ) Tj ET Q q 0 0 0 rg BT 191.05 400.10 Td (volumes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 376.10 Td (Currently) Tj ET Q q 0 0 0 rg BT 105.18 376.10 Td (, ) Tj ET Q q 0 0 0 rg BT 110.38 376.10 Td (our ) Tj ET Q q 0 0 0 rg BT 126.41 376.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 140.31 374.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.56 376.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.26 376.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 181.17 376.10 Td (comprises ) Tj ET Q q 0 0 0 rg BT 224.42 376.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 284.88 376.10 Td (20% ) Tj ET Q q 0 0 0 rg BT 305.92 376.10 Td (of ) Tj ET Q q 0 0 0 rg BT 316.95 376.10 Td (our ) Tj ET Q q 0 0 0 rg BT 332.99 376.10 Td (typical ) Tj ET Q q 0 0 0 rg BT 362.90 376.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 394.48 376.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 417.17 376.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 457.64 376.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 498.94 376.10 Td (and ) Tj ET Q q 0 0 0 rg BT 516.08 376.10 Td (for ) Tj ET Q q 0 0 0 rg BT 530.45 376.10 Td (the ) Tj ET Q q 0 0 0 rg BT 545.37 376.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 559.26 374.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 364.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 84.60 364.10 Td (we ) Tj ET Q q 0 0 0 rg BT 98.60 364.10 Td (already ) Tj ET Q q 0 0 0 rg BT 130.36 364.10 Td (own, ) Tj ET Q q 0 0 0 rg BT 152.43 364.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 186.44 364.10 Td (of ) Tj ET Q q 0 0 0 rg BT 197.11 364.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 211.00 362.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.25 364.10 Td ( ) Tj ET Q q 0 0 0 rg BT 216.59 364.10 Td (production ) Tj ET Q q 0 0 0 rg BT 262.25 364.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 303.19 364.10 Td (and ) Tj ET Q q 0 0 0 rg BT 319.97 364.10 Td (for ) Tj ET Q q 0 0 0 rg BT 333.97 364.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.53 364.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 362.42 362.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.67 364.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.01 364.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 403.11 364.10 Td (we ) Tj ET Q q 0 0 0 rg BT 417.11 364.10 Td (do ) Tj ET Q q 0 0 0 rg BT 429.45 364.10 Td (not ) Tj ET Q q 0 0 0 rg BT 444.57 364.10 Td (own, ) Tj ET Q q 0 0 0 rg BT 466.63 364.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 500.64 364.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.31 364.10 Td (our ) Tj ET Q q 0 0 0 rg BT 526.98 364.10 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 352.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.59 352.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 73.48 350.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.73 352.10 Td ( ) Tj ET Q q 0 0 0 rg BT 78.48 352.10 Td (from ) Tj ET Q q 0 0 0 rg BT 99.68 352.10 Td (royalty ) Tj ET Q q 0 0 0 rg BT 129.76 352.10 Td (and ) Tj ET Q q 0 0 0 rg BT 145.96 352.10 Td (working ) Tj ET Q q 0 0 0 rg BT 181.04 352.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 212.23 352.10 Td (owners ) Tj ET Q q 0 0 0 rg BT 242.87 352.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.07 352.10 Td (industrial) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 296.84 350.67 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.98 352.10 Td (sources. ) Tj ET Q q 0 0 0 rg BT 332.23 352.10 Td ( ) Tj ET Q q 0 0 0 rg BT 333.99 352.10 Td (During ) Tj ET Q q 0 0 0 rg BT 364.07 352.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.05 352.10 Td (year ) Tj ET Q q 0 0 0 rg BT 397.01 352.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 422.65 352.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 480.49 352.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.49 352.10 Td (, ) Tj ET Q q 0 0 0 rg BT 504.74 352.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.10 Td (52% ) Tj ET Q q 0 0 0 rg BT 70.38 340.10 Td (of ) Tj ET Q q 0 0 0 rg BT 81.25 340.10 Td (the ) Tj ET Q q 0 0 0 rg BT 96.01 340.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 109.90 338.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.15 340.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.70 340.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 148.24 340.10 Td (in ) Tj ET Q q 0 0 0 rg BT 158.56 340.10 Td (our ) Tj ET Q q 0 0 0 rg BT 174.43 340.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 188.33 338.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.58 340.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.12 340.10 Td (floods ) Tj ET Q q 0 0 0 rg BT 221.67 340.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 261.43 340.10 Td (of ) Tj ET Q q 0 0 0 rg BT 272.30 340.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 286.20 338.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.45 340.10 Td ( ) Tj ET Q q 0 0 0 rg BT 291.99 340.10 Td (owned ) Tj ET Q q 0 0 0 rg BT 321.20 340.10 Td (and ) Tj ET Q q 0 0 0 rg BT 338.18 340.10 Td (produced ) Tj ET Q q 0 0 0 rg BT 377.93 340.10 Td (by ) Tj ET Q q 0 0 0 rg BT 390.48 340.10 Td (us ) Tj ET Q q 0 0 0 rg BT 401.92 340.10 Td (\(our ) Tj ET Q q 0 0 0 rg BT 421.12 340.10 Td (net ) Tj ET Q q 0 0 0 rg BT 435.88 340.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 470.07 340.10 Td (interest\). ) Tj ET Q q 0 0 0 rg BT 507.88 340.10 Td ( ) Tj ET Q q 0 0 0 rg BT 510.24 340.10 Td (The ) Tj ET Q q 0 0 0 rg BT 528.34 340.10 Td (price ) Tj ET Q q 0 0 0 rg BT 550.87 340.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 328.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 66.69 328.10 Td (others ) Tj ET Q q 0 0 0 rg BT 93.88 328.10 Td (for ) Tj ET Q q 0 0 0 rg BT 108.28 328.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 122.18 326.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.43 328.10 Td ( ) Tj ET Q q 0 0 0 rg BT 128.17 328.10 Td (varies ) Tj ET Q q 0 0 0 rg BT 154.80 328.10 Td (by ) Tj ET Q q 0 0 0 rg BT 167.55 328.10 Td (source ) Tj ET Q q 0 0 0 rg BT 196.40 328.10 Td (and ) Tj ET Q q 0 0 0 rg BT 213.58 328.10 Td (is ) Tj ET Q q 0 0 0 rg BT 223.00 328.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 262.95 328.10 Td (indexed ) Tj ET Q q 0 0 0 rg BT 297.36 328.10 Td (to ) Tj ET Q q 0 0 0 rg BT 307.89 328.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 321.19 328.10 Td (prices. ) Tj ET Q q 0 0 0 rg BT 350.32 328.10 Td ( ) Tj ET Q q 0 0 0 rg BT 352.87 328.10 Td (When ) Tj ET Q q 0 0 0 rg BT 379.49 328.10 Td (combining ) Tj ET Q q 0 0 0 rg BT 425.02 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.98 328.10 Td (production ) Tj ET Q q 0 0 0 rg BT 486.06 328.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 504.91 328.10 Td (of ) Tj ET Q q 0 0 0 rg BT 515.99 328.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.96 328.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 544.85 326.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.10 328.10 Td ( ) Tj ET Q q 0 0 0 rg BT 550.85 328.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.10 Td (own ) Tj ET Q q 0 0 0 rg BT 69.48 316.10 Td (with ) Tj ET Q q 0 0 0 rg BT 90.03 316.10 Td (what ) Tj ET Q q 0 0 0 rg BT 112.23 316.10 Td (we ) Tj ET Q q 0 0 0 rg BT 126.65 316.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 143.85 316.10 Td (third ) Tj ET Q q 0 0 0 rg BT 165.50 316.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 194.92 316.10 Td (for ) Tj ET Q q 0 0 0 rg BT 209.34 316.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 223.23 314.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.48 316.10 Td (, ) Tj ET Q q 0 0 0 rg BT 231.74 316.10 Td (our ) Tj ET Q q 0 0 0 rg BT 247.84 316.10 Td (average ) Tj ET Q q 0 0 0 rg BT 281.68 316.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 300.56 316.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.65 316.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 325.54 314.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.79 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 331.55 316.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.42 316.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.42 316.10 Td ( ) Tj ET Q q 0 0 0 rg BT 383.19 316.10 Td (was ) Tj ET Q q 0 0 0 rg BT 401.50 316.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 462.02 316.10 Td ($0.42 ) Tj ET Q q 0 0 0 rg BT 487.28 316.10 Td (per ) Tj ET Q q 0 0 0 rg BT 502.82 316.10 Td (Mcf, ) Tj ET Q q 0 0 0 rg BT 524.74 316.10 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 304.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 72.22 304.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 91.61 304.10 Td (on ) Tj ET Q q 0 0 0 rg BT 103.79 304.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 117.68 302.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.93 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.11 304.10 Td (production ) Tj ET Q q 0 0 0 rg BT 168.61 304.10 Td (but ) Tj ET Q q 0 0 0 rg BT 183.56 304.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 225.17 304.10 Td (depletion, ) Tj ET Q q 0 0 0 rg BT 267.06 304.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 318.65 304.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.26 304.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 387.98 304.10 Td (of ) Tj ET Q q 0 0 0 rg BT 398.48 304.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 427.31 304.10 Td (expended ) Tj ET Q q 0 0 0 rg BT 467.80 304.10 Td (at ) Tj ET Q q 0 0 0 rg BT 477.19 304.10 Td (our ) Tj ET Q q 0 0 0 rg BT 492.70 304.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 506.59 302.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.84 304.10 Td ( ) Tj ET Q q 0 0 0 rg BT 512.01 304.10 Td (source ) Tj ET Q q 0 0 0 rg BT 540.29 304.10 Td (fields ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.50 292.10 Td (industrial ) Tj ET Q q 0 0 0 rg BT 106.83 292.10 Td (sources. ) Tj ET Q q 0 0 0 rg BT 141.88 292.10 Td ( ) Tj ET Q q 0 0 0 rg BT 144.25 292.10 Td (This ) Tj ET Q q 0 0 0 rg BT 164.59 292.10 Td (per) Tj ET Q q 0 0 0 rg BT 177.16 292.10 Td (-Mcf ) Tj ET Q q 0 0 0 rg BT 199.71 292.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 213.60 290.67 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 218.51 292.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 237.18 292.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.84 292.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.84 292.10 Td ( ) Tj ET Q q 0 0 0 rg BT 288.40 292.10 Td (was ) Tj ET Q q 0 0 0 rg BT 306.51 292.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 334.62 292.10 Td (than ) Tj ET Q q 0 0 0 rg BT 354.39 292.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.17 292.10 Td ($0.38 ) Tj ET Q q 0 0 0 rg BT 394.23 292.10 Td (per ) Tj ET Q q 0 0 0 rg BT 409.55 292.10 Td (Mcf ) Tj ET Q q 0 0 0 rg BT 428.77 292.10 Td (comparable ) Tj ET Q q 0 0 0 rg BT 477.97 292.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 513.85 292.10 Td (during ) Tj ET Q q 0 0 0 rg BT 542.51 292.10 Td (2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 280.10 Td (due ) Tj ET Q q 0 0 0 rg BT 67.03 280.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 107.33 280.10 Td (to ) Tj ET Q q 0 0 0 rg BT 118.19 280.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 146.83 280.10 Td (utilization ) Tj ET Q q 0 0 0 rg BT 190.46 280.10 Td (of ) Tj ET Q q 0 0 0 rg BT 201.88 280.10 Td (industrial-source ) Tj ET Q q 0 0 0 rg BT 272.17 280.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 286.06 278.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.31 280.10 Td (, ) Tj ET Q q 0 0 0 rg BT 294.90 280.10 Td (which ) Tj ET Q q 0 0 0 rg BT 322.42 280.10 Td (has ) Tj ET Q q 0 0 0 rg BT 338.84 280.10 Td (a ) Tj ET Q q 0 0 0 rg BT 346.36 280.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 375.00 280.10 Td (average ) Tj ET Q q 0 0 0 rg BT 409.17 280.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 428.37 280.10 Td (than ) Tj ET Q q 0 0 0 rg BT 448.67 280.10 Td (our ) Tj ET Q q 0 0 0 rg BT 465.09 280.10 Td (naturally-occurring ) Tj ET Q q 0 0 0 rg BT 545.36 280.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 559.25 278.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 268.10 Td (sources. ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 244.10 Td (Marketing ) Tj ET Q q 0 0 0 rg BT 93.66 244.10 Td (and ) Tj ET Q q 0 0 0 rg BT 111.16 244.10 Td (Plant ) Tj ET Q q 0 0 0 rg BT 135.32 244.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 178.93 244.10 Td (Expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 220.10 Td (Marketing ) Tj ET Q q 0 0 0 rg BT 112.79 220.10 Td (and ) Tj ET Q q 0 0 0 rg BT 130.87 220.10 Td (plant ) Tj ET Q q 0 0 0 rg BT 154.51 220.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 195.91 220.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 235.65 220.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 276.50 220.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 307.92 220.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.88 220.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 357.41 220.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 394.37 220.10 Td (related ) Tj ET Q q 0 0 0 rg BT 425.21 220.10 Td (to ) Tj ET Q q 0 0 0 rg BT 436.62 220.10 Td (the ) Tj ET Q q 0 0 0 rg BT 452.48 220.10 Td (marketing, ) Tj ET Q q 0 0 0 rg BT 499.16 220.10 Td (processing, ) Tj ET Q q 0 0 0 rg BT 548.07 220.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 208.10 Td (transportation ) Tj ET Q q 0 0 0 rg BT 107.85 208.10 Td (of ) Tj ET Q q 0 0 0 rg BT 119.00 208.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 132.37 208.10 Td (and ) Tj ET Q q 0 0 0 rg BT 149.62 208.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 180.19 208.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 196.34 208.10 Td (production. ) Tj ET Q q 0 0 0 rg BT 244.97 208.10 Td ( ) Tj ET Q q 0 0 0 rg BT 247.79 208.10 Td (Marketing ) Tj ET Q q 0 0 0 rg BT 292.25 208.10 Td (and ) Tj ET Q q 0 0 0 rg BT 309.50 208.10 Td (plant ) Tj ET Q q 0 0 0 rg BT 332.31 208.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 372.89 208.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 411.80 208.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.04 208.10 Td ($50.0 ) Tj ET Q q 0 0 0 rg BT 459.35 208.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.25 208.10 Td ( ) Tj ET Q q 0 0 0 rg BT 491.06 208.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.31 208.10 Td ($51.8 ) Tj ET Q q 0 0 0 rg BT 533.62 208.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 196.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.41 196.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.41 196.10 Td ( ) Tj ET Q q 0 0 0 rg BT 101.21 196.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.44 196.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 138.44 196.10 Td (, ) Tj ET Q q 0 0 0 rg BT 143.74 196.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 191.41 196.10 Td (, ) Tj ET Q q 0 0 0 rg BT 196.70 196.10 Td (which ) Tj ET Q q 0 0 0 rg BT 223.94 196.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 260.63 196.10 Td (include ) Tj ET Q q 0 0 0 rg BT 292.86 196.10 Td (purchases ) Tj ET Q q 0 0 0 rg BT 335.09 196.10 Td (of ) Tj ET Q q 0 0 0 rg BT 346.22 196.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 359.57 196.10 Td (from ) Tj ET Q q 0 0 0 rg BT 381.81 196.10 Td (third ) Tj ET Q q 0 0 0 rg BT 403.50 196.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 432.95 196.10 Td (of ) Tj ET Q q 0 0 0 rg BT 444.08 196.10 Td ($6.5 ) Tj ET Q q 0 0 0 rg BT 464.38 196.10 Td (million ) Tj ET Q q 0 0 0 rg BT 496.07 196.10 Td (and ) Tj ET Q q 0 0 0 rg BT 513.31 196.10 Td ($7.8 ) Tj ET Q q 0 0 0 rg BT 533.61 196.10 Td (million ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 184.10 Td (during ) Tj ET Q q 0 0 0 rg BT 78.11 184.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 100.61 184.10 Td (and ) Tj ET Q q 0 0 0 rg BT 117.55 184.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 142.55 184.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 190.21 184.10 Td (.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 160.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.14 160.10 Td (axes ) Tj ET Q q 0 0 0 rg BT 74.41 160.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 100.24 160.10 Td (than ) Tj ET Q q 0 0 0 rg BT 120.52 160.10 Td (Income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 136.10 Td (T) Tj ET Q q 0 0 0 rg BT 72.91 136.10 Td (axes ) Tj ET Q q 0 0 0 rg BT 92.33 136.10 Td (other ) Tj ET Q q 0 0 0 rg BT 114.53 136.10 Td (than ) Tj ET Q q 0 0 0 rg BT 133.40 136.10 Td (income ) Tj ET Q q 0 0 0 rg BT 164.49 136.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 199.47 136.10 Td (production, ) Tj ET Q q 0 0 0 rg BT 246.94 136.10 Td (ad ) Tj ET Q q 0 0 0 rg BT 258.03 136.10 Td (valorem ) Tj ET Q q 0 0 0 rg BT 292.45 136.10 Td (and ) Tj ET Q q 0 0 0 rg BT 308.54 136.10 Td (franchise ) Tj ET Q q 0 0 0 rg BT 346.84 136.10 Td (taxes. ) Tj ET Q q 0 0 0 rg BT 371.54 136.10 Td ( ) Tj ET Q q 0 0 0 rg BT 373.07 136.10 Td (T) Tj ET Q q 0 0 0 rg BT 378.48 136.10 Td (axes ) Tj ET Q q 0 0 0 rg BT 397.91 136.10 Td (other ) Tj ET Q q 0 0 0 rg BT 420.10 136.10 Td (than ) Tj ET Q q 0 0 0 rg BT 438.97 136.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.06 136.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.81 136.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.47 136.10 Td ($17.5 ) Tj ET Q q 0 0 0 rg BT 533.62 136.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 124.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.83 124.10 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.16 124.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 76.51 124.10 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.84 124.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.84 124.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.86 124.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.32 124.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.32 124.10 Td (, ) Tj ET Q q 0 0 0 rg BT 174.84 124.10 Td (due ) Tj ET Q q 0 0 0 rg BT 191.30 124.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 230.53 124.10 Td (to ) Tj ET Q q 0 0 0 rg BT 240.33 124.10 Td (an ) Tj ET Q q 0 0 0 rg BT 251.78 124.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 286.56 124.10 Td (in ) Tj ET Q q 0 0 0 rg BT 296.35 124.10 Td (production ) Tj ET Q q 0 0 0 rg BT 341.70 124.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 364.26 124.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 401.28 124.10 Td (from ) Tj ET Q q 0 0 0 rg BT 422.73 124.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 450.30 124.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 462.88 124.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.33 124.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 509.12 124.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 524.47 124.10 Td (revenues.) Tj ET Q endstream endobj 107 0 obj <> endobj 108 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (53) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 713.25 Td (General ) Tj ET Q q 0 0 0 rg BT 85.33 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 103.02 713.25 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 166.08 713.25 Td (Expenses ) Tj ET Q q 0 0 0 rg BT 207.47 713.25 Td (\(�G&A�\)) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 672.75 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 672.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 672.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 672.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 672.75 4.00 -15.00 re f 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0 d 0 J 0 j 3 M 427.5 687.75 m 492.5 687.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 672.75 m 492.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 687.75 m 496.5 687.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 687.75 m 561.5 687.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 672.75 m 561.5 672.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 612.75 m 423.5 612.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 612.75 m 492.5 612.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 612.75 m 561.5 612.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 598.75 m 423.5 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 596.75 m 423.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 598.75 m 492.5 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 596.75 m 492.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 598.75 m 561.5 598.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 596.75 m 561.5 596.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 537.75 m 423.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 523.75 m 423.5 523.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 521.75 m 423.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 537.75 m 492.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 523.75 m 492.5 523.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 521.75 m 492.5 521.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 537.75 m 561.5 537.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 523.75 m 561.5 523.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 521.75 m 561.5 521.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 692.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.95 692.42 Td (Y) Tj ET Q q 0 0 0 rg BT 413.67 692.42 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.00 677.46 Td (In thousands, except per) Tj ET Q q 0 0 0 rg BT 149.55 677.46 Td (-BOE data and employees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 677.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 677.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 677.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 662.42 Td (Gross cash compensation and administrative costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 662.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 662.42 Td (220,127) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 662.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 662.42 Td (250,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 662.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 662.42 Td (271,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 647.42 Td (Gross stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 647.42 Td (15,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.15 647.42 Td (19,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.15 647.42 Td (21,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 632.42 Td (Operator labor and overhead recovery char) Tj ET Q q 0 0 0 rg BT 223.76 632.42 Td (ges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.80 632.47 Td (\(126,570) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 632.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 452.80 632.47 Td (\(127,425) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 632.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.80 632.47 Td (\(133,727) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 632.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 617.42 Td (Capitalized exploration and development costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.80 617.47 Td (\(37,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 617.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.80 617.47 Td (\(41,193) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 617.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 617.47 Td (\(48,438) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 617.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 602.42 Td (Net G&A) Tj ET Q q 0 0 0 rg BT 102.88 602.42 Td ( expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 602.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.15 602.42 Td (71,495) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 602.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.15 602.42 Td (101,806) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 602.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.15 602.42 Td (109,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 572.42 Td (G&A) Tj ET Q q 0 0 0 rg BT 73.95 572.42 Td ( per BOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.00 572.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.00 572.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.00 572.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 557.42 Td (Net administrative costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 557.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 557.42 Td (2.70) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 557.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 557.42 Td (3.94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 557.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 557.42 Td (4.08) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 542.42 Td (Net stock-based compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 542.42 Td (0.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 542.42 Td (0.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 542.42 Td (0.61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 527.42 Td (Net G&A) Tj ET Q q 0 0 0 rg BT 102.61 527.42 Td ( expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 527.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 527.42 Td (3.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 527.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 527.42 Td (4.63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 527.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 527.42 Td (4.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 497.42 Td (Employees as of December 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.65 497.42 Td (847) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 473.65 497.42 Td (879) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 497.42 Td (1,058) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 481.25 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 469.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 86.06 469.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 110.19 469.25 Td (G&A) Tj ET Q q 0 0 0 rg BT 131.86 469.25 Td ( ) Tj ET Q q 0 0 0 rg BT 134.87 469.25 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 176.48 469.25 Td (which ) Tj ET Q q 0 0 0 rg BT 203.93 469.25 Td (include ) Tj ET Q q 0 0 0 rg BT 236.38 469.25 Td (our ) Tj ET Q q 0 0 0 rg BT 252.72 469.25 Td (field ) Tj ET Q q 0 0 0 rg BT 274.05 469.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 318.72 469.25 Td (employee ) Tj ET Q q 0 0 0 rg BT 360.61 469.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 386.12 469.25 Td (on ) Tj ET Q q 0 0 0 rg BT 399.13 469.25 Td (an ) Tj ET Q q 0 0 0 rg BT 411.58 469.25 Td (absolute-dollar ) Tj ET Q q 0 0 0 rg BT 474.57 469.25 Td (basis ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.58 469.25 Td (decreased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.00 469.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.01 469.25 Td ($34.9 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 457.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 457.25 Td ( ) Tj ET Q q 0 0 0 rg BT 80.95 457.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.28 457.25 Td (13%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 102.61 457.25 Td (\) ) Tj ET Q q 0 0 0 rg BT 108.50 457.25 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.38 457.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.38 457.25 Td ( ) Tj ET Q q 0 0 0 rg BT 166.94 457.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.94 457.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.94 457.25 Td (. ) Tj ET Q q 0 0 0 rg BT 209.00 457.25 Td ( ) Tj ET Q q 0 0 0 rg BT 211.37 457.25 Td (The ) Tj ET Q q 0 0 0 rg BT 229.48 457.25 Td (change ) Tj ET Q q 0 0 0 rg BT 260.35 457.25 Td (between ) Tj ET Q q 0 0 0 rg BT 296.23 457.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 328.23 457.25 Td (was ) Tj ET Q q 0 0 0 rg BT 346.34 457.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 386.11 457.25 Td (due ) Tj ET Q q 0 0 0 rg BT 403.11 457.25 Td (to ) Tj ET Q q 0 0 0 rg BT 413.45 457.25 Td (lower ) Tj ET Q q 0 0 0 rg BT 438.78 457.25 Td (employee-related ) Tj ET Q q 0 0 0 rg BT 510.74 457.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 533.30 457.25 Td (such ) Tj ET Q q 0 0 0 rg BT 554.19 457.25 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 445.25 Td (salaries ) Tj ET Q q 0 0 0 rg BT 83.55 445.25 Td (and ) Tj ET Q q 0 0 0 rg BT 102.05 445.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 145.54 445.25 Td (incentives ) Tj ET Q q 0 0 0 rg BT 190.15 445.25 Td (during ) Tj ET Q q 0 0 0 rg BT 220.32 445.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 244.38 445.25 Td (and ) Tj ET Q q 0 0 0 rg BT 262.88 445.25 Td (the ) Tj ET Q q 0 0 0 rg BT 279.16 445.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 303.23 445.25 Td (period ) Tj ET Q q 0 0 0 rg BT 332.83 445.25 Td (including ) Tj ET Q q 0 0 0 rg BT 374.67 445.25 Td (severance-related ) Tj ET Q q 0 0 0 rg BT 448.68 445.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 491.07 445.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 536.22 445.25 Td (with ) Tj ET Q q 0 0 0 rg BT 558.06 445.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 433.25 Td (workforce ) Tj ET Q q 0 0 0 rg BT 93.22 433.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 133.61 433.25 Td (and ) Tj ET Q q 0 0 0 rg BT 150.68 433.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 208.85 433.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 231.48 433.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 275.20 433.25 Td (with ) Tj ET Q q 0 0 0 rg BT 295.61 433.25 Td (the ) Tj ET Q q 0 0 0 rg BT 310.46 433.25 Td (retirement ) Tj ET Q q 0 0 0 rg BT 354.18 433.25 Td (of ) Tj ET Q q 0 0 0 rg BT 365.13 433.25 Td (our ) Tj ET Q q 0 0 0 rg BT 381.09 433.25 Td (chief ) Tj ET Q q 0 0 0 rg BT 403.71 433.25 Td (executive ) Tj ET Q q 0 0 0 rg BT 444.65 433.25 Td (of) Tj ET Q q 0 0 0 rg BT 452.80 433.25 Td (ficer) Tj ET Q q 0 0 0 rg BT 470.56 433.25 Td (. ) Tj ET Q q 0 0 0 rg BT 475.69 433.25 Td ( ) Tj ET Q q 0 0 0 rg BT 477.74 433.25 Td (As ) Tj ET Q q 0 0 0 rg BT 491.48 433.25 Td (part ) Tj ET Q q 0 0 0 rg BT 509.66 433.25 Td (of ) Tj ET Q q 0 0 0 rg BT 520.62 433.25 Td (our ) Tj ET Q q 0 0 0 rg BT 536.58 433.25 Td (ef) Tj ET Q q 0 0 0 rg BT 544.17 433.25 Td (forts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 421.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.96 421.25 Td (reduce ) Tj ET Q q 0 0 0 rg BT 89.29 421.25 Td (overhead ) Tj ET Q q 0 0 0 rg BT 128.61 421.25 Td (and ) Tj ET Q q 0 0 0 rg BT 145.73 421.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 186.17 421.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 211.36 421.25 Td (we ) Tj ET Q q 0 0 0 rg BT 225.70 421.25 Td (reduced ) Tj ET Q q 0 0 0 rg BT 260.02 421.25 Td (our ) Tj ET Q q 0 0 0 rg BT 276.03 421.25 Td (employee ) Tj ET Q q 0 0 0 rg BT 317.59 421.25 Td (headcount ) Tj ET Q q 0 0 0 rg BT 361.36 421.25 Td (through ) Tj ET Q q 0 0 0 rg BT 395.15 421.25 Td (involuntary ) Tj ET Q q 0 0 0 rg BT 443.93 421.25 Td (workforce ) Tj ET Q q 0 0 0 rg BT 487.70 421.25 Td (reductions ) Tj ET Q q 0 0 0 rg BT 532.04 421.25 Td (in ) Tj ET Q q 0 0 0 rg BT 542.50 421.25 Td (2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 409.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 409.25 Td (2016. ) Tj ET Q q 0 0 0 rg BT 91.44 409.25 Td ( ) Tj ET Q q 0 0 0 rg BT 93.76 409.25 Td (The ) Tj ET Q q 0 0 0 rg BT 111.80 409.25 Td (severance-related ) Tj ET Q q 0 0 0 rg BT 184.25 409.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 225.08 409.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 268.67 409.25 Td (with ) Tj ET Q q 0 0 0 rg BT 288.95 409.25 Td (the ) Tj ET Q q 0 0 0 rg BT 303.67 409.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 326.17 409.25 Td (workforce ) Tj ET Q q 0 0 0 rg BT 369.75 409.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 410.02 409.25 Td (were ) Tj ET Q q 0 0 0 rg BT 431.95 409.25 Td (approximately ) Tj ET Q q 0 0 0 rg BT 492.21 409.25 Td ($6.8 ) Tj ET Q q 0 0 0 rg BT 512.21 409.25 Td (million.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 385.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 84.65 385.25 Td (G&A) Tj ET Q q 0 0 0 rg BT 106.32 385.25 Td ( ) Tj ET Q q 0 0 0 rg BT 109.02 385.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 143.94 385.25 Td (decreased ) Tj ET Q q 0 0 0 rg BT 186.06 385.25 Td ($30.3 ) Tj ET Q q 0 0 0 rg BT 211.27 385.25 Td (million ) Tj ET Q q 0 0 0 rg BT 242.87 385.25 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 246.20 385.25 Td (30%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.53 385.25 Td (\) ) Tj ET Q q 0 0 0 rg BT 270.56 385.25 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 306.59 385.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.59 385.25 Td ( ) Tj ET Q q 0 0 0 rg BT 329.29 385.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.44 385.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.44 385.25 Td ( ) Tj ET Q q 0 0 0 rg BT 369.15 385.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 409.07 385.25 Td (due ) Tj ET Q q 0 0 0 rg BT 426.21 385.25 Td (to ) Tj ET Q q 0 0 0 rg BT 436.70 385.25 Td (the ) Tj ET Q q 0 0 0 rg BT 451.62 385.25 Td (items ) Tj ET Q q 0 0 0 rg BT 476.00 385.25 Td (mentioned ) Tj ET Q q 0 0 0 rg BT 520.92 385.25 Td (above ) Tj ET Q q 0 0 0 rg BT 547.50 385.25 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 373.25 Td (decreased ) Tj ET Q q 0 0 0 rg BT 91.68 373.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 115.56 373.25 Td (G&A) Tj ET Q q 0 0 0 rg BT 137.23 373.25 Td ( ) Tj ET Q q 0 0 0 rg BT 140.00 373.25 Td (expenses. ) Tj ET Q q 0 0 0 rg BT 181.37 373.25 Td ( ) Tj ET Q q 0 0 0 rg BT 183.93 373.25 Td (The ) Tj ET Q q 0 0 0 rg BT 202.25 373.25 Td (more ) Tj ET Q q 0 0 0 rg BT 225.56 373.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 270.54 373.25 Td (percentage ) Tj ET Q q 0 0 0 rg BT 316.61 373.25 Td (decrease ) Tj ET Q q 0 0 0 rg BT 353.79 373.25 Td (in ) Tj ET Q q 0 0 0 rg BT 364.34 373.25 Td (net ) Tj ET Q q 0 0 0 rg BT 379.32 373.25 Td (G&A) Tj ET Q q 0 0 0 rg BT 400.99 373.25 Td ( ) Tj ET Q q 0 0 0 rg BT 403.76 373.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 445.95 373.25 Td (to ) Tj ET Q q 0 0 0 rg BT 456.50 373.25 Td (the ) Tj ET Q q 0 0 0 rg BT 471.48 373.25 Td (percentage ) Tj ET Q q 0 0 0 rg BT 517.55 373.25 Td (decrease ) Tj ET Q q 0 0 0 rg BT 554.73 373.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 361.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 73.11 361.25 Td (G&A) Tj ET Q q 0 0 0 rg BT 94.78 361.25 Td ( ) Tj ET Q q 0 0 0 rg BT 97.28 361.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 135.88 361.25 Td (was ) Tj ET Q q 0 0 0 rg BT 153.93 361.25 Td (due ) Tj ET Q q 0 0 0 rg BT 170.87 361.25 Td (to ) Tj ET Q q 0 0 0 rg BT 181.15 361.25 Td (the ) Tj ET Q q 0 0 0 rg BT 195.87 361.25 Td (workforce ) Tj ET Q q 0 0 0 rg BT 239.46 361.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 279.72 361.25 Td (having ) Tj ET Q q 0 0 0 rg BT 309.44 361.25 Td (a ) Tj ET Q q 0 0 0 rg BT 316.38 361.25 Td (lar) Tj ET Q q 0 0 0 rg BT 326.74 361.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 342.01 361.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 371.72 361.25 Td (on ) Tj ET Q q 0 0 0 rg BT 384.22 361.25 Td (the ) Tj ET Q q 0 0 0 rg BT 398.94 361.25 Td (non-field ) Tj ET Q q 0 0 0 rg BT 438.09 361.25 Td (employee ) Tj ET Q q 0 0 0 rg BT 479.47 361.25 Td (workforce.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 337.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.34 337.25 Td (well ) Tj ET Q q 0 0 0 rg BT 104.84 337.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 144.89 337.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 192.71 337.25 Td (allow ) Tj ET Q q 0 0 0 rg BT 217.21 337.25 Td (us, ) Tj ET Q q 0 0 0 rg BT 230.89 337.25 Td (when ) Tj ET Q q 0 0 0 rg BT 254.84 337.25 Td (we ) Tj ET Q q 0 0 0 rg BT 268.79 337.25 Td (are ) Tj ET Q q 0 0 0 rg BT 283.28 337.25 Td (the ) Tj ET Q q 0 0 0 rg BT 297.78 337.25 Td (operator) Tj ET Q q 0 0 0 rg BT 330.70 337.25 Td (, ) Tj ET Q q 0 0 0 rg BT 335.48 337.25 Td (to ) Tj ET Q q 0 0 0 rg BT 345.55 337.25 Td (char) Tj ET Q q 0 0 0 rg BT 362.58 337.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 374.30 337.25 Td (a ) Tj ET Q q 0 0 0 rg BT 381.03 337.25 Td (well ) Tj ET Q q 0 0 0 rg BT 400.53 337.25 Td (with ) Tj ET Q q 0 0 0 rg BT 420.59 337.25 Td (a ) Tj ET Q q 0 0 0 rg BT 427.32 337.25 Td (specified ) Tj ET Q q 0 0 0 rg BT 465.70 337.25 Td (overhead ) Tj ET Q q 0 0 0 rg BT 504.63 337.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 521.90 337.25 Td (during ) Tj ET Q q 0 0 0 rg BT 550.30 337.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 325.25 Td (drilling ) Tj ET Q q 0 0 0 rg BT 81.05 325.25 Td (phase ) Tj ET Q q 0 0 0 rg BT 105.93 325.25 Td (and ) Tj ET Q q 0 0 0 rg BT 122.47 325.25 Td (also ) Tj ET Q q 0 0 0 rg BT 140.69 325.25 Td (to ) Tj ET Q q 0 0 0 rg BT 150.57 325.25 Td (char) Tj ET Q q 0 0 0 rg BT 167.60 325.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 179.14 325.25 Td (a ) Tj ET Q q 0 0 0 rg BT 185.69 325.25 Td (monthly ) Tj ET Q q 0 0 0 rg BT 221.13 325.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 243.78 325.25 Td (overhead ) Tj ET Q q 0 0 0 rg BT 282.54 325.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 299.63 325.25 Td (for ) Tj ET Q q 0 0 0 rg BT 313.40 325.25 Td (each ) Tj ET Q q 0 0 0 rg BT 333.82 325.25 Td (producing ) Tj ET Q q 0 0 0 rg BT 376.47 325.25 Td (well.��In ) Tj ET Q q 0 0 0 rg BT 411.63 325.25 Td (addition, ) Tj ET Q q 0 0 0 rg BT 449.01 325.25 Td (salaries ) Tj ET Q q 0 0 0 rg BT 481.10 325.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 524.30 325.25 Td (with ) Tj ET Q q 0 0 0 rg BT 544.19 325.25 Td (field ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 313.25 Td (personnel ) Tj ET Q q 0 0 0 rg BT 89.86 313.25 Td (are ) Tj ET Q q 0 0 0 rg BT 103.55 313.25 Td (initially ) Tj ET Q q 0 0 0 rg BT 136.14 313.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 172.60 313.25 Td (as ) Tj ET Q q 0 0 0 rg BT 182.42 313.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 205.01 313.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 224.26 313.25 Td (compensation ) Tj ET Q q 0 0 0 rg BT 281.29 313.25 Td (and ) Tj ET Q q 0 0 0 rg BT 297.21 313.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 355.90 313.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 377.38 313.25 Td (and ) Tj ET Q q 0 0 0 rg BT 393.31 313.25 Td (subsequently ) Tj ET Q q 0 0 0 rg BT 447.01 313.25 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 494.02 313.25 Td (to ) Tj ET Q q 0 0 0 rg BT 503.28 313.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 524.75 313.25 Td (operating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 301.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 88.09 301.25 Td (or ) Tj ET Q q 0 0 0 rg BT 98.91 301.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 144.71 301.25 Td (to ) Tj ET Q q 0 0 0 rg BT 154.98 301.25 Td (field ) Tj ET Q q 0 0 0 rg BT 175.80 301.25 Td (development ) Tj ET Q q 0 0 0 rg BT 229.94 301.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 252.43 301.25 Td (to ) Tj ET Q q 0 0 0 rg BT 262.70 301.25 Td (the ) Tj ET Q q 0 0 0 rg BT 277.41 301.25 Td (extent ) Tj ET Q q 0 0 0 rg BT 304.33 301.25 Td (those ) Tj ET Q q 0 0 0 rg BT 327.93 301.25 Td (individuals ) Tj ET Q q 0 0 0 rg BT 374.87 301.25 Td (are ) Tj ET Q q 0 0 0 rg BT 389.57 301.25 Td (dedicated ) Tj ET Q q 0 0 0 rg BT 430.37 301.25 Td (to ) Tj ET Q q 0 0 0 rg BT 440.64 301.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 453.69 301.25 Td (and ) Tj ET Q q 0 0 0 rg BT 470.62 301.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 500.87 301.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 516.70 301.25 Td (production, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 289.25 Td (exploration, ) Tj ET Q q 0 0 0 rg BT 100.04 289.25 Td (and ) Tj ET Q q 0 0 0 rg BT 116.98 289.25 Td (development ) Tj ET Q q 0 0 0 rg BT 171.13 289.25 Td (activities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 265.25 Td (Interest and Financing Expenses) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 186.47 265.25 Td ( ) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 224.75 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 224.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 224.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 224.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 224.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 224.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 224.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 184.75 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 184.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 184.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 184.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 184.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 184.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 184.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 154.75 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 154.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 154.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 154.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 154.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 154.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 154.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 124.75 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 124.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 124.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 124.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 124.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 124.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 124.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 239.75 m 424 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 239.75 m 428 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 239.75 m 493 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 239.75 m 497 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 239.75 m 562 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 224.75 m 355 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 239.75 m 424 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 224.75 m 424 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 239.75 m 428 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 239.75 m 493 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 224.75 m 493 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 239.75 m 497 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 239.75 m 562 239.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 224.75 m 562 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 224.75 m 424 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 224.75 m 493 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 224.75 m 562 224.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 154.75 m 424 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 154.75 m 493 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 154.75 m 562 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 154.75 m 424 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 140.75 m 424 140.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 138.75 m 424 138.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 154.75 m 493 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 140.75 m 493 140.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 138.75 m 493 138.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 154.75 m 562 154.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 140.75 m 562 140.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 138.75 m 562 138.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 244.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.45 244.42 Td (Y) Tj ET Q q 0 0 0 rg BT 414.17 244.42 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 229.46 Td (In thousands, except per) Tj ET Q q 0 0 0 rg BT 150.05 229.46 Td (-BOE data and inter) Tj ET Q q 0 0 0 rg BT 231.62 229.46 Td (est rates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 229.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 229.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 229.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 214.42 Td (Cash interest) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 104.43 218.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 214.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.65 214.42 Td (186,632) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 214.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.65 214.42 Td (176,307) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 214.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 214.42 Td (170,772) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 199.42 Td (Less: interest on Senior Secured Notes and Convertible Notes not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 189.42 Td (reflected as interest for financial reporting purposes) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 259.08 193.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 189.47 Td (\(86,1) Tj ET Q q 0 0 0 rg BT 405.13 189.47 Td (1) Tj ET Q q 0 0 0 rg BT 410.13 189.47 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 189.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 189.47 Td (\(52,473) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 189.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 189.47 Td (\(32,120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 189.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 174.42 Td (Noncash interest expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 174.42 Td (6,246) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 174.42 Td (6,191) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 174.42 Td (12,475) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 159.42 Td (Less: capitalized interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 159.47 Td (\(37,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 159.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 159.47 Td (\(30,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 159.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 159.47 Td (\(25,982) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 159.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 144.42 Td (Interest expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 144.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 144.42 Td (69,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 144.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 144.42 Td (99,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 144.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.65 144.42 Td (125,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 129.42 Td (Interest expense, net per BOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 129.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 129.42 Td (3.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 129.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 129.42 Td (4.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 129.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 129.42 Td (5.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 114.42 Td (A) Tj ET Q q 0 0 0 rg BT 58.98 114.42 Td (verage debt principal outstanding) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 114.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.10 114.42 Td (2,593,035) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 114.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 114.42 Td (2,892,785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 114.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.10 114.42 Td (2,973,823) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 99.42 Td (A) Tj ET Q q 0 0 0 rg BT 58.98 99.42 Td (verage interest rate) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 135.04 103.95 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 99.42 Td (7.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.15 99.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 99.42 Td (6.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.15 99.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 99.42 Td (5.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 553.15 99.42 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 71.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 71.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 90.28 71.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 122.50 71.25 Td (is ) Tj ET Q q 0 0 0 rg BT 131.96 71.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 173.06 71.25 Td (on ) Tj ET Q q 0 0 0 rg BT 185.84 71.25 Td (an ) Tj ET Q q 0 0 0 rg BT 198.07 71.25 Td (accrual ) Tj ET Q q 0 0 0 rg BT 229.71 71.25 Td (basis, ) Tj ET Q q 0 0 0 rg BT 255.00 71.25 Td (and ) Tj ET Q q 0 0 0 rg BT 272.22 71.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 308.33 71.25 Td (the ) Tj ET Q q 0 0 0 rg BT 323.33 71.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 355.00 71.25 Td (of ) Tj ET Q q 0 0 0 rg BT 366.12 71.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 398.34 71.25 Td (on ) Tj ET Q q 0 0 0 rg BT 411.12 71.25 Td (our ) Tj ET Q q 0 0 0 rg BT 427.24 71.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 450.02 71.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 478.91 71.25 Td (Secured ) Tj ET Q q 0 0 0 rg BT 513.90 71.25 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 542.52 71.25 Td (2022 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 59.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 95.18 59.25 Td (Secured ) Tj ET Q q 0 0 0 rg BT 128.96 59.25 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 156.37 59.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 177.94 59.25 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 226.73 59.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 254.41 59.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 279.32 59.25 Td (and ) Tj ET Q q 0 0 0 rg BT 295.33 59.25 Td (2024 ) Tj ET Q q 0 0 0 rg BT 316.91 59.25 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 365.69 59.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 393.38 59.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 418.28 59.25 Td (versus ) Tj ET Q q 0 0 0 rg BT 445.41 59.25 Td (the ) Tj ET Q q 0 0 0 rg BT 459.20 59.25 Td (GAAP) Tj ET Q q 0 0 0 rg BT 486.05 59.25 Td ( ) Tj ET Q q 0 0 0 rg BT 487.63 59.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 524.18 59.25 Td (statement ) Tj ET Q endstream endobj 109 0 obj <> endobj 110 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (54) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 713.10 Td (presentation ) Tj ET Q q 0 0 0 rg BT 118.81 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 129.04 713.10 Td (which ) Tj ET Q q 0 0 0 rg BT 155.92 713.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 187.79 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 200.24 713.10 Td (these ) Tj ET Q q 0 0 0 rg BT 223.23 713.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 246.78 713.10 Td (is ) Tj ET Q q 0 0 0 rg BT 255.89 713.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 298.87 713.10 Td (for ) Tj ET Q q 0 0 0 rg BT 312.97 713.10 Td (as ) Tj ET Q q 0 0 0 rg BT 323.74 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 330.62 713.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 370.83 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 381.60 713.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 401.26 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 418.14 713.10 Td (not ) Tj ET Q q 0 0 0 rg BT 433.36 713.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 470.78 713.10 Td (as ) Tj ET Q q 0 0 0 rg BT 481.55 713.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 513.43 713.10 Td (for ) Tj ET Q q 0 0 0 rg BT 527.53 713.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 701.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 109.97 701.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 151.34 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 164.94 701.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 215.72 701.10 Td (with ) Tj ET Q q 0 0 0 rg BT 239.31 701.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 281.06 701.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 333.53 701.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 378.79 701.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 409.04 701.10 Td (Codification ) Tj ET Q q 0 0 0 rg BT 464.85 701.10 Td (470-60, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 501.50 701.10 Td (T) Tj ET Q q 0 0 0 rg BT 506.51 701.10 Td (r) Tj ET Q q 0 0 0 rg BT 510.03 701.10 Td (oubled ) Tj ET Q q 0 0 0 rg BT 543.06 701.10 Td (Debt ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 689.10 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 125.00 689.10 Td (by ) Tj ET Q q 0 0 0 rg BT 136.93 689.10 Td (Debtors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.16 689.10 Td (. ) Tj ET Q q 0 0 0 rg BT 174.16 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 176.66 689.10 Td (See ) Tj ET Q q 0 0 0 rg BT 193.59 689.10 Td (below ) Tj ET Q q 0 0 0 rg BT 220.53 689.10 Td (for ) Tj ET Q q 0 0 0 rg BT 234.69 689.10 Td (further ) Tj ET Q q 0 0 0 rg BT 264.40 689.10 Td (discussion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 677.10 Td (Includes commitment fees but excludes debt issue costs and amortization of discount or premium.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 653.10 Td (As ) Tj ET Q q 0 0 0 rg BT 81.74 653.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 119.83 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 130.73 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.07 653.10 Td (table ) Tj ET Q q 0 0 0 rg BT 168.63 653.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 198.13 653.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 219.02 653.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 251.57 653.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 286.90 653.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.13 653.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.13 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 339.26 653.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 380.13 653.10 Td (when ) Tj ET Q q 0 0 0 rg BT 404.91 653.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 447.46 653.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.36 653.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.36 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 481.48 653.10 Td (due ) Tj ET Q q 0 0 0 rg BT 499.05 653.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 539.38 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 550.28 653.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 85.47 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 95.90 641.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 117.99 641.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 146.19 641.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 180.50 641.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 205.92 641.10 Td (during ) Tj ET Q q 0 0 0 rg BT 234.12 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 248.44 641.10 Td (third ) Tj ET Q q 0 0 0 rg BT 269.42 641.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 299.83 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 310.25 641.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 334.85 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 336.94 641.10 Td (Despite ) Tj ET Q q 0 0 0 rg BT 369.58 641.10 Td (an ) Tj ET Q q 0 0 0 rg BT 381.12 641.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 410.97 641.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 450.83 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 460.71 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 475.02 641.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 494.33 641.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 531.97 641.10 Td (balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (as ) Tj ET Q q 0 0 0 rg BT 61.29 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 69.19 629.10 Td (result ) Tj ET Q q 0 0 0 rg BT 94.86 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.65 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 122.32 629.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 163.54 629.10 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 217.26 629.10 Td (our ) Tj ET Q q 0 0 0 rg BT 234.05 629.10 Td (average ) Tj ET Q q 0 0 0 rg BT 268.59 629.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 301.48 629.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 319.93 629.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 361.14 629.10 Td (between ) Tj ET Q q 0 0 0 rg BT 397.91 629.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 421.37 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 439.27 629.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 462.73 629.10 Td (as ) Tj ET Q q 0 0 0 rg BT 474.52 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 490.19 629.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 533.08 629.10 Td (interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 90.22 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 102.62 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.23 617.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 144.07 617.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 177.00 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 193.83 617.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 241.21 617.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 268.05 617.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 291.55 617.10 Td (was ) Tj ET Q q 0 0 0 rg BT 309.50 617.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 337.44 617.10 Td (than ) Tj ET Q q 0 0 0 rg BT 357.06 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.67 617.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 416.28 617.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 443.68 617.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 470.51 617.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 524.57 617.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 548.07 617.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 81.43 605.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 98.92 605.10 Td (on ) Tj ET Q q 0 0 0 rg BT 111.42 605.10 Td (our ) Tj ET Q q 0 0 0 rg BT 127.25 605.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 154.19 605.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 187.22 605.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 209.16 605.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 234.43 605.10 Td (facility) Tj ET Q q 0 0 0 rg BT 262.10 605.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 581.10 Td (Capitalized ) Tj ET Q q 0 0 0 rg BT 116.10 581.10 Td (interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.60 581.10 Td (increased) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.35 581.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.42 581.10 Td ($6.3 ) Tj ET Q q 0 0 0 rg BT 209.98 581.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.87 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.94 581.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.27 581.10 Td (21%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.60 581.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 269.99 581.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.16 581.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.16 581.10 Td (, ) Tj ET Q q 0 0 0 rg BT 324.73 581.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 365.00 581.10 Td (due ) Tj ET Q q 0 0 0 rg BT 382.50 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 393.35 581.10 Td (an ) Tj ET Q q 0 0 0 rg BT 405.85 581.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 441.67 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 452.51 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.79 581.10 Td (number ) Tj ET Q q 0 0 0 rg BT 501.40 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 512.80 581.10 Td (projects ) Tj ET Q q 0 0 0 rg BT 547.51 581.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 80.33 569.10 Td (for ) Tj ET Q q 0 0 0 rg BT 94.49 569.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 126.42 569.10 Td (capitalization.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 545.10 Td (As ) Tj ET Q q 0 0 0 rg BT 80.49 545.10 Td (more ) Tj ET Q q 0 0 0 rg BT 102.91 545.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 123.67 545.10 Td (described ) Tj ET Q q 0 0 0 rg BT 163.86 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 173.52 545.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 194.83 545.10 Td (6, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 204.20 545.10 Td (Long-T) Tj ET Q q 0 0 0 rg BT 232.74 545.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 250.17 545.10 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 545.10 Td (, ) Tj ET Q q 0 0 0 rg BT 273.98 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 283.63 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.72 545.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 352.37 545.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 391.46 545.10 Td (Statements, ) Tj ET Q q 0 0 0 rg BT 439.72 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 453.81 545.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 493.44 545.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 543.08 545.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 93.09 533.10 Td (for ) Tj ET Q q 0 0 0 rg BT 107.81 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 118.64 533.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 166.66 533.10 Td (with ) Tj ET Q q 0 0 0 rg BT 187.49 533.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 227.09 533.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 276.80 533.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 319.29 533.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 346.79 533.10 Td (Codification ) Tj ET Q q 0 0 0 rg BT 399.84 533.10 Td (470-60, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 433.72 533.10 Td (T) Tj ET Q q 0 0 0 rg BT 438.73 533.10 Td (r) Tj ET Q q 0 0 0 rg BT 442.25 533.10 Td (oubled ) Tj ET Q q 0 0 0 rg BT 472.53 533.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 495.02 533.10 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 553.07 533.10 Td (by ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (Debtors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.72 521.10 Td (, ) Tj ET Q q 0 0 0 rg BT 87.37 521.10 Td (whereby ) Tj ET Q q 0 0 0 rg BT 124.95 521.10 Td (most ) Tj ET Q q 0 0 0 rg BT 147.55 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 159.04 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 174.40 521.10 Td (future ) Tj ET Q q 0 0 0 rg BT 201.43 521.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 234.02 521.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 278.26 521.10 Td (with ) Tj ET Q q 0 0 0 rg BT 299.19 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 314.56 521.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 337.72 521.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 366.98 521.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 402.33 521.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 431.32 521.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 454.47 521.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 483.73 521.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 519.09 521.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 548.07 521.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 93.25 509.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 141.44 509.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 162.97 509.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 211.72 509.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 239.36 509.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 264.22 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 280.19 509.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 301.72 509.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 350.46 509.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 378.10 509.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 402.96 509.10 Td (was ) Tj ET Q q 0 0 0 rg BT 420.04 509.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 456.55 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 466.41 509.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 485.16 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 495.02 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 504.88 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.63 509.10 Td (transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (date, ) Tj ET Q q 0 0 0 rg BT 71.44 497.10 Td (which ) Tj ET Q q 0 0 0 rg BT 98.66 497.10 Td (will ) Tj ET Q q 0 0 0 rg BT 117.00 497.10 Td (be ) Tj ET Q q 0 0 0 rg BT 129.23 497.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 163.66 497.10 Td (as ) Tj ET Q q 0 0 0 rg BT 174.77 497.10 Td (semiannual ) Tj ET Q q 0 0 0 rg BT 223.10 497.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 255.32 497.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 296.43 497.10 Td (are ) Tj ET Q q 0 0 0 rg BT 311.42 497.10 Td (made. ) Tj ET Q q 0 0 0 rg BT 338.36 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.14 497.10 Td (Future ) Tj ET Q q 0 0 0 rg BT 370.04 497.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 402.25 497.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 436.13 497.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 473.89 497.10 Td (as ) Tj ET Q q 0 0 0 rg BT 485.01 497.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 505.01 497.10 Td (totaled ) Tj ET Q q 0 0 0 rg BT 535.01 497.10 Td ($250.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (million ) Tj ET Q q 0 0 0 rg BT 82.65 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 101.34 485.10 Td ($316.8 ) Tj ET Q q 0 0 0 rg BT 133.10 485.10 Td (million ) Tj ET Q q 0 0 0 rg BT 166.25 485.10 Td (as ) Tj ET Q q 0 0 0 rg BT 178.83 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.42 485.10 Td (December ) Tj ET Q q 0 0 0 rg BT 236.76 485.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 253.51 485.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 277.77 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 296.46 485.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 323.22 485.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 370.88 485.10 Td (. ) Tj ET Q q 0 0 0 rg BT 377.64 485.10 Td ( ) Tj ET Q q 0 0 0 rg BT 381.58 485.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 427.75 485.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 461.44 485.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 497.91 485.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 537.13 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.17 485.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 104.77 473.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 151.16 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 161.99 473.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 208.36 473.10 Td (is ) Tj ET Q q 0 0 0 rg BT 217.53 473.10 Td (and ) Tj ET Q q 0 0 0 rg BT 234.47 473.10 Td (will ) Tj ET Q q 0 0 0 rg BT 252.53 473.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 282.79 473.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 335.28 473.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 360.55 473.10 Td (than ) Tj ET Q q 0 0 0 rg BT 380.27 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 394.98 473.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 421.36 473.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 441.62 473.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 473.56 473.10 Td (payment.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 449.10 Td (During ) Tj ET Q q 0 0 0 rg BT 98.76 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.90 449.10 Td (second ) Tj ET Q q 0 0 0 rg BT 144.59 449.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 175.84 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 187.09 449.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 212.52 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 227.66 449.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 247.80 449.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 286.27 449.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 319.73 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.10 449.10 Td (future ) Tj ET Q q 0 0 0 rg BT 363.90 449.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 396.26 449.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 440.27 449.10 Td (to ) Tj ET Q q 0 0 0 rg BT 450.98 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.12 449.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 489.05 449.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 539.19 449.10 Td (Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.29 437.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 88.64 437.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 138.20 437.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 166.38 437.10 Td (totaling ) Tj ET Q q 0 0 0 rg BT 199.28 437.10 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.28 437.10 Td (162.0 ) Tj ET Q q 0 0 0 rg BT 229.13 437.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 258.02 437.10 Td (, ) Tj ET Q q 0 0 0 rg BT 262.87 437.10 Td (were ) Tj ET Q q 0 0 0 rg BT 284.65 437.10 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 332.54 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 342.66 437.10 Td (�Paid-in ) Tj ET Q q 0 0 0 rg BT 378.34 437.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 407.34 437.10 Td (in ) Tj ET Q q 0 0 0 rg BT 417.47 437.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 445.92 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 456.60 437.10 Td (par� ) Tj ET Q q 0 0 0 rg BT 476.15 437.10 Td (and ) Tj ET Q q 0 0 0 rg BT 492.94 437.10 Td (�Common ) Tj ET Q q 0 0 0 rg BT 536.96 437.10 Td (stock� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.16 425.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.38 425.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 132.03 425.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 167.12 425.10 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 196.11 425.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 218.99 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 234.09 425.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 280.85 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.07 425.10 Td (those ) Tj ET Q q 0 0 0 rg BT 316.06 425.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 340.05 425.10 Td (into ) Tj ET Q q 0 0 0 rg BT 358.49 425.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 386.36 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 397.58 425.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 435.45 425.10 Td (common ) Tj ET Q q 0 0 0 rg BT 473.33 425.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 497.32 425.10 Td (\(see ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 516.30 425.10 Td (Overview) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.62 425.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 557.50 425.10 Td (� ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 72.00 413.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 93.94 413.10 Td (Reduction) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.48 413.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 142.81 413.10 Td ( ) Tj ET Q q 0 0 0 rg BT 145.13 413.10 Td (The ) Tj ET Q q 0 0 0 rg BT 163.18 413.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 209.55 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.38 413.10 Td (these ) Tj ET Q q 0 0 0 rg BT 243.43 413.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 267.04 413.10 Td (saves ) Tj ET Q q 0 0 0 rg BT 291.20 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 305.92 413.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 347.30 413.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 376.46 413.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 396.73 413.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 428.66 413.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 469.49 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 480.32 413.10 Td ($5.9 ) Tj ET Q q 0 0 0 rg BT 500.32 413.10 Td (million.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (Depletion, ) Tj ET Q q 0 0 0 rg BT 94.50 389.10 Td (Depreciation, ) Tj ET Q q 0 0 0 rg BT 152.82 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 170.51 389.10 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 226.92 389.10 Td (\(�DD&A�\)) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 348.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 348.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 348.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 348.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 348.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 348.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 348.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 318.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 318.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 318.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 318.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 318.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 288.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 288.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 288.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 288.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 288.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 288.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 288.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 258.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 258.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 258.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 258.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 258.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 258.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 258.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 228.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 228.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 228.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 228.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 228.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 228.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 228.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 198.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 198.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 198.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 198.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 198.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 198.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 198.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 363.6 m 423.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 363.6 m 427.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 363.6 m 492.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 363.6 m 496.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 363.6 m 561.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 348.6 m 354.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 363.6 m 423.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 348.6 m 423.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 363.6 m 427.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 363.6 m 492.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 348.6 m 492.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 363.6 m 496.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 363.6 m 561.5 363.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 348.6 m 561.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 348.6 m 423.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 348.6 m 492.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 348.6 m 561.5 348.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 303.6 m 423.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 303.6 m 492.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 303.6 m 561.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 303.6 m 423.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 289.6 m 423.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 287.6 m 423.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 303.6 m 492.5 303.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 289.6 m 492.5 289.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 287.6 m 492.5 287.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 303.6 m 561.5 303.6 l s 0 0 0 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[] 0 d 0 J 0 j 3 M 427.5 197.60000000000002 m 492.5 197.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 213.60000000000002 m 561.5 213.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 199.60000000000002 m 561.5 199.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 197.60000000000002 m 561.5 197.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 368.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.95 368.27 Td (Y) Tj ET Q q 0 0 0 rg BT 413.67 368.27 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.00 353.31 Td (In thousands, except per) Tj ET Q q 0 0 0 rg BT 149.55 353.31 Td (-BOE data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 353.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 353.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 353.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 338.27 Td (Oil and natural gas properties) Tj ET Q BT /F1 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 121.10 Td (The ) Tj ET Q q 0 0 0 rg BT 86.19 121.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 122.09 121.10 Td (in ) Tj ET Q q 0 0 0 rg BT 133.02 121.10 Td (our ) Tj ET Q q 0 0 0 rg BT 149.49 121.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 163.20 121.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.78 121.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 211.69 121.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 228.17 121.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 271.30 121.10 Td (depletion ) Tj ET Q q 0 0 0 rg BT 311.66 121.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 340.91 121.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.91 121.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.06 121.10 Td (when ) Tj ET Q q 0 0 0 rg BT 388.86 121.10 Td (compared ) Tj ET Q q 0 0 0 rg BT 431.43 121.10 Td (to ) Tj ET Q q 0 0 0 rg BT 442.36 121.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 465.50 121.10 Td (was ) Tj ET Q q 0 0 0 rg BT 484.20 121.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 524.56 121.10 Td (due ) Tj ET Q q 0 0 0 rg BT 542.14 121.10 Td (to ) Tj ET Q q 0 0 0 rg BT 553.07 121.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 109.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 85.41 109.10 Td (in ) Tj ET Q q 0 0 0 rg BT 96.35 109.10 Td (depletable ) Tj ET Q q 0 0 0 rg BT 140.60 109.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 163.76 109.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 201.92 109.10 Td (from ) Tj ET Q q 0 0 0 rg BT 224.52 109.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 264.32 109.10 Td (in ) Tj ET Q q 0 0 0 rg BT 275.26 109.10 Td (our ) Tj ET Q q 0 0 0 rg BT 291.75 109.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 338.22 109.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 361.38 109.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.98 109.10 Td (future ) Tj ET Q q 0 0 0 rg BT 406.02 109.10 Td (development ) Tj ET Q q 0 0 0 rg BT 460.83 109.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 483.99 109.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 528.24 109.10 Td (with ) Tj ET Q q 0 0 0 rg BT 549.18 109.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 97.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 85.04 97.10 Td (base, ) Tj ET Q q 0 0 0 rg BT 108.09 97.10 Td (partially ) Tj ET Q q 0 0 0 rg BT 144.19 97.10 Td (of) Tj ET Q q 0 0 0 rg BT 152.34 97.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 169.55 97.10 Td (by ) Tj ET Q q 0 0 0 rg BT 182.33 97.10 Td (an ) Tj ET Q q 0 0 0 rg BT 194.55 97.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 230.09 97.10 Td (in ) Tj ET Q q 0 0 0 rg BT 240.64 97.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 271.19 97.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 284.53 97.10 Td (and ) Tj ET Q q 0 0 0 rg BT 301.75 97.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 332.29 97.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 348.40 97.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 380.05 97.10 Td (quantities. ) Tj ET Q q 0 0 0 rg BT 424.21 97.10 Td ( ) Tj ET Q q 0 0 0 rg BT 426.99 97.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 445.32 97.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 458.66 97.10 Td (and ) Tj ET Q q 0 0 0 rg BT 475.88 97.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 506.42 97.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 522.53 97.10 Td (properties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 85.10 Td (depletion ) Tj ET Q q 0 0 0 rg BT 89.21 85.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 106.70 85.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.75 85.10 Td ($6.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.25 85.10 Td ( ) Tj ET Q q 0 0 0 rg BT 149.75 85.10 Td (per ) Tj ET Q q 0 0 0 rg BT 165.02 85.10 Td (BOE ) Tj ET Q q 0 0 0 rg BT 187.52 85.10 Td (during ) Tj ET Q q 0 0 0 rg BT 216.13 85.10 Td (the ) Tj ET Q q 0 0 0 rg BT 230.84 85.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 257.78 85.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 288.60 85.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.43 85.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.43 85.10 Td (.) Tj ET Q endstream endobj 111 0 obj <> endobj 112 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) 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689.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 128.91 689.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 174.92 689.10 Td (rules, ) Tj ET Q q 0 0 0 rg BT 199.00 689.10 Td (we ) Tj ET Q q 0 0 0 rg BT 212.80 689.10 Td (are ) Tj ET Q q 0 0 0 rg BT 227.14 689.10 Td (required ) Tj ET Q q 0 0 0 rg BT 262.60 689.10 Td (each ) Tj ET Q q 0 0 0 rg BT 283.06 689.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 313.51 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.43 689.10 Td (perform ) Tj ET Q q 0 0 0 rg BT 357.78 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 364.35 689.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 393.71 689.10 Td (test ) Tj ET Q q 0 0 0 rg BT 409.73 689.10 Td (calculation. ) Tj ET Q q 0 0 0 rg BT 458.24 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 460.38 689.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 487.51 689.10 Td (these ) Tj ET Q q 0 0 0 rg BT 510.20 689.10 Td (rules, ) Tj ET Q q 0 0 0 rg BT 534.28 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 548.63 689.10 Td (full ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 67.44 677.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 96.49 677.10 Td (value ) Tj ET Q q 0 0 0 rg BT 119.98 677.10 Td (is ) Tj ET Q q 0 0 0 rg BT 128.49 677.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 170.85 677.10 Td (using ) Tj ET Q q 0 0 0 rg BT 194.35 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.40 677.10 Td (average ) Tj ET Q q 0 0 0 rg BT 241.32 677.10 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 333.13 677.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 345.52 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 361.79 677.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 391.39 677.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 406.56 677.10 Td (price ) Tj ET Q q 0 0 0 rg BT 428.38 677.10 Td (for ) Tj ET Q q 0 0 0 rg BT 441.87 677.10 Td (each ) Tj ET Q q 0 0 0 rg BT 462.02 677.10 Td (month ) Tj ET Q q 0 0 0 rg BT 489.42 677.10 Td (during ) Tj ET Q q 0 0 0 rg BT 517.36 677.10 Td (a ) Tj ET Q q 0 0 0 rg BT 523.63 677.10 Td (12-month ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (rolling ) Tj ET Q q 0 0 0 rg BT 78.76 665.10 Td (period ) Tj ET Q q 0 0 0 rg BT 106.91 665.10 Td (through ) Tj ET Q q 0 0 0 rg BT 140.61 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.43 665.10 Td (end ) Tj ET Q q 0 0 0 rg BT 172.46 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.39 665.10 Td (each ) Tj ET Q q 0 0 0 rg BT 204.30 665.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 243.00 665.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 282.25 665.10 Td (period. ) Tj ET Q q 0 0 0 rg BT 312.89 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 315.30 665.10 Td (The ) Tj ET Q q 0 0 0 rg BT 333.45 665.10 Td (falling ) Tj ET Q q 0 0 0 rg BT 362.15 665.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 388.62 665.10 Td (throughout ) Tj ET Q q 0 0 0 rg BT 435.11 665.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 457.71 665.10 Td (led ) Tj ET Q q 0 0 0 rg BT 472.52 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 482.90 665.10 Td (our ) Tj ET Q q 0 0 0 rg BT 498.82 665.10 Td (recognizing ) Tj ET Q q 0 0 0 rg BT 548.62 665.10 Td (full ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 67.64 653.10 Td (pool ) Tj ET Q q 0 0 0 rg BT 87.46 653.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 116.71 653.10 Td (test ) Tj ET Q q 0 0 0 rg BT 132.63 653.10 Td (write-downs ) Tj ET Q q 0 0 0 rg BT 184.66 653.10 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.24 653.10 Td ($810.9 ) Tj ET Q q 0 0 0 rg BT 246.78 653.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.67 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 277.71 653.10 Td (during ) Tj ET Q q 0 0 0 rg BT 305.85 653.10 Td (2016. ) Tj ET Q q 0 0 0 rg BT 330.39 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.28 653.10 Td (W) Tj ET Q q 0 0 0 rg BT 340.92 653.10 Td (e ) Tj ET Q q 0 0 0 rg BT 347.39 653.10 Td (did ) Tj ET Q q 0 0 0 rg BT 362.20 653.10 Td (not ) Tj ET Q q 0 0 0 rg BT 377.02 653.10 Td (record ) Tj ET Q q 0 0 0 rg BT 404.59 653.10 Td (any ) Tj ET Q q 0 0 0 rg BT 421.07 653.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 450.31 653.10 Td (test ) Tj ET Q q 0 0 0 rg BT 466.24 653.10 Td (write-down ) Tj ET Q q 0 0 0 rg BT 514.37 653.10 Td (during ) Tj ET Q q 0 0 0 rg BT 542.52 653.10 Td (2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (or ) Tj ET Q q 0 0 0 rg BT 59.89 641.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 84.45 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 86.50 641.10 Td (See ) Tj ET Q q 0 0 0 rg BT 103.00 641.10 Td (Item ) Tj ET Q q 0 0 0 rg BT 123.38 641.10 Td (1A, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 140.16 641.10 Td (Risk ) Tj ET Q q 0 0 0 rg BT 159.44 641.10 Td (Factors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.55 641.10 Td (, ) Tj ET Q q 0 0 0 rg BT 195.11 641.10 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 211.60 641.10 Td (Critical ) Tj ET Q q 0 0 0 rg BT 244.62 641.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 292.22 641.10 Td (Policies ) Tj ET Q q 0 0 0 rg BT 326.49 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 343.55 641.10 Td (Estimates ) Tj ET Q q 0 0 0 rg BT 384.50 641.10 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.50 641.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 391.56 641.10 Td (Full ) Tj ET Q q 0 0 0 rg BT 410.28 641.10 Td (Cost ) Tj ET Q q 0 0 0 rg BT 430.68 641.10 Td (Method ) Tj ET Q q 0 0 0 rg BT 463.28 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 472.97 641.10 Td (Accounting, ) Tj ET Q q 0 0 0 rg BT 523.07 641.10 Td (Depletion ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.00 629.10 Td (Depr) Tj ET Q q 0 0 0 rg BT 87.18 629.10 Td (eciation ) Tj ET Q q 0 0 0 rg BT 121.89 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 139.39 629.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 154.67 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 172.17 629.10 Td (Natural ) Tj ET Q q 0 0 0 rg BT 205.79 629.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 224.40 629.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 234.03 629.10 Td (operties ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.75 629.10 Td (for ) Tj ET Q q 0 0 0 rg BT 282.91 629.10 Td (further ) Tj ET Q q 0 0 0 rg BT 312.62 629.10 Td (discussion.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (Other Expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 581.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 91.88 581.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 129.60 581.10 Td (totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.43 581.10 Td ($79.9 ) Tj ET Q q 0 0 0 rg BT 182.54 581.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.44 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 213.05 581.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.11 581.10 Td ($7.0 ) Tj ET Q q 0 0 0 rg BT 248.22 581.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.11 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 278.73 581.10 Td (during ) Tj ET Q q 0 0 0 rg BT 306.46 581.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 328.07 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 344.13 581.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 368.24 581.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 415.90 581.10 Td (. ) Tj ET Q q 0 0 0 rg BT 420.02 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 421.64 581.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 446.02 581.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 483.74 581.10 Td (during ) Tj ET Q q 0 0 0 rg BT 511.46 581.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 533.08 581.10 Td (include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td ($49.4 ) Tj ET Q q 0 0 0 rg BT 74.46 569.10 Td (million ) Tj ET Q q 0 0 0 rg BT 105.81 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 116.59 569.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 151.26 569.10 Td (related ) Tj ET Q q 0 0 0 rg BT 180.92 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 191.15 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.83 569.10 Td (Riley ) Tj ET Q q 0 0 0 rg BT 229.95 569.10 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 256.30 569.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 286.53 569.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 315.65 569.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 350.31 569.10 Td (claim ) Tj ET Q q 0 0 0 rg BT 374.98 569.10 Td (\(see ) Tj ET Q q 0 0 0 rg BT 393.54 569.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 415.44 569.10 Td (12, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 430.39 569.10 Td (Commitments ) Tj ET Q q 0 0 0 rg BT 487.85 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 505.31 569.10 Td (Contingencies ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (� ) Tj ET Q q 0 0 0 rg BT 56.91 557.10 Td (Litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 96.36 557.10 Td (, ) Tj ET Q q 0 0 0 rg BT 101.27 557.10 Td (to ) Tj ET Q q 0 0 0 rg BT 111.46 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 126.09 557.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 181.27 557.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 220.89 557.10 Td (Statements\), ) Tj ET Q q 0 0 0 rg BT 273.01 557.10 Td (a ) Tj ET Q q 0 0 0 rg BT 279.86 557.10 Td ($17.8 ) Tj ET Q q 0 0 0 rg BT 304.77 557.10 Td (million ) Tj ET Q q 0 0 0 rg BT 336.07 557.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 384.58 557.10 Td (for ) Tj ET Q q 0 0 0 rg BT 398.65 557.10 Td (an ) Tj ET Q q 0 0 0 rg BT 410.50 557.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 456.79 557.10 Td (related ) Tj ET Q q 0 0 0 rg BT 486.40 557.10 Td (to ) Tj ET Q q 0 0 0 rg BT 496.59 557.10 Td (a ) Tj ET Q q 0 0 0 rg BT 503.44 557.10 Td (proposed ) Tj ET Q q 0 0 0 rg BT 542.51 557.10 Td (plant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.71 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.35 545.10 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 95.11 545.10 Td (Coast ) Tj ET Q q 0 0 0 rg BT 120.32 545.10 Td (that ) Tj ET Q q 0 0 0 rg BT 137.74 545.10 Td (would ) Tj ET Q q 0 0 0 rg BT 165.17 545.10 Td (potentially ) Tj ET Q q 0 0 0 rg BT 210.37 545.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 239.47 545.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 253.36 543.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.61 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 259.04 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 269.25 545.10 Td (Denbury) Tj ET Q q 0 0 0 rg BT 303.59 545.10 Td (, ) Tj ET Q q 0 0 0 rg BT 308.52 545.10 Td (due ) Tj ET Q q 0 0 0 rg BT 325.39 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 335.59 545.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 389.11 545.10 Td (of ) Tj ET Q q 0 0 0 rg BT 399.87 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 414.52 545.10 Td (project ) Tj ET Q q 0 0 0 rg BT 444.71 545.10 Td (achieving ) Tj ET Q q 0 0 0 rg BT 486.01 545.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 523.42 545.10 Td (close ) Tj ET Q q 0 0 0 rg BT 546.40 545.10 Td (\(see ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 70.70 533.10 Td (1,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 78.20 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 79.97 533.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 124.94 533.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 172.24 533.10 Td (Policies ) Tj ET Q q 0 0 0 rg BT 206.22 533.10 Td (� ) Tj ET Q q 0 0 0 rg BT 212.99 533.10 Td (Other ) Tj ET Q q 0 0 0 rg BT 238.08 533.10 Td (Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.83 533.10 Td (, ) Tj ET Q q 0 0 0 rg BT 290.10 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 299.64 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 313.62 533.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 368.16 533.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 407.14 533.10 Td (Statements\), ) Tj ET Q q 0 0 0 rg BT 458.61 533.10 Td ($4.4 ) Tj ET Q q 0 0 0 rg BT 477.88 533.10 Td (million ) Tj ET Q q 0 0 0 rg BT 508.54 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.63 533.10 Td (transaction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.29 521.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 116.17 521.10 Td (with ) Tj ET Q q 0 0 0 rg BT 136.74 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.75 521.10 Td (proposed ) Tj ET Q q 0 0 0 rg BT 191.20 521.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 237.87 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 248.99 521.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 271.58 521.10 Td (V) Tj ET Q q 0 0 0 rg BT 278.20 521.10 Td (ir) Tj ET Q q 0 0 0 rg BT 284.13 521.10 Td (ginia, ) Tj ET Q q 0 0 0 rg BT 309.42 521.10 Td ($2.1 ) Tj ET Q q 0 0 0 rg BT 329.71 521.10 Td (million ) Tj ET Q q 0 0 0 rg BT 361.39 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 372.51 521.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 419.17 521.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 441.96 521.10 Td (related ) Tj ET Q q 0 0 0 rg BT 471.96 521.10 Td (to ) Tj ET Q q 0 0 0 rg BT 482.53 521.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 520.86 521.10 Td (negotiated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 69.03 509.10 Td (exchanges, ) Tj ET Q q 0 0 0 rg BT 115.48 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.23 509.10 Td (a ) Tj ET Q q 0 0 0 rg BT 138.98 509.10 Td ($1.5 ) Tj ET Q q 0 0 0 rg BT 158.79 509.10 Td (million ) Tj ET Q q 0 0 0 rg BT 189.99 509.10 Td (write-of) Tj ET Q q 0 0 0 rg BT 222.01 509.10 Td (f ) Tj ET Q q 0 0 0 rg BT 227.65 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.29 509.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 257.82 509.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 294.01 509.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 316.32 509.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 359.72 509.10 Td (with ) Tj ET Q q 0 0 0 rg BT 379.81 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 394.33 509.10 Td (Company�) Tj ET Q q 0 0 0 rg BT 436.00 509.10 Td (s ) Tj ET Q q 0 0 0 rg BT 442.20 509.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 482.27 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 499.02 509.10 Td (extension ) Tj ET Q q 0 0 0 rg BT 539.66 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 550.30 509.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 76.46 497.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 109.52 497.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 131.48 497.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 156.77 497.10 Td (facility) Tj ET Q q 0 0 0 rg BT 184.44 497.10 Td (. ) Tj ET Q q 0 0 0 rg BT 189.46 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 191.80 497.10 Td (The ) Tj ET Q q 0 0 0 rg BT 209.87 497.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 232.39 497.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 268.80 497.10 Td (are ) Tj ET Q q 0 0 0 rg BT 283.53 497.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 323.26 497.10 Td (comprised ) Tj ET Q q 0 0 0 rg BT 367.44 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 378.29 497.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 424.68 497.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 447.21 497.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 490.82 497.10 Td (with ) Tj ET Q q 0 0 0 rg BT 511.12 497.10 Td (our ) Tj ET Q q 0 0 0 rg BT 526.97 497.10 Td (privately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (negotiated ) Tj ET Q q 0 0 0 rg BT 93.65 485.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 113.37 485.10 Td (exchanges ) Tj ET Q q 0 0 0 rg BT 157.51 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 167.79 485.10 Td (December ) Tj ET Q q 0 0 0 rg BT 211.38 485.10 Td (2017.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 83.11 461.10 Td (T) Tj ET Q q 0 0 0 rg BT 88.30 461.10 Td (axes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 106.63 461.10 Td ( ) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 420.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 420.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 420.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 420.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 420.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 420.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 420.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 390.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 390.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 390.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 390.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 390.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 390.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 390.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 360.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 360.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 360.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 360.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 360.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 360.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 360.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 435.6 m 423.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 435.6 m 427.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 435.6 m 492.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 435.6 m 496.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 435.6 m 561.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 420.6 m 354.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 435.6 m 423.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 420.6 m 423.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 435.6 m 427.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 435.6 m 492.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 420.6 m 492.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 435.6 m 496.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 435.6 m 561.5 435.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 420.6 m 561.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 420.6 m 354.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 420.6 m 423.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 420.6 m 492.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 420.6 m 561.5 420.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 390.6 m 423.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 390.6 m 492.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 390.6 m 561.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 390.6 m 423.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 376.6 m 423.5 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 374.6 m 423.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 390.6 m 492.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 376.6 m 492.5 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 374.6 m 492.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 390.6 m 561.5 390.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 376.6 m 561.5 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 374.6 m 561.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 374.6 m 423.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 376.6 m 423.5 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 374.6 m 492.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 376.6 m 492.5 376.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 374.6 m 561.5 374.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 376.6 m 561.5 376.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.50 440.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.95 440.27 Td (Y) Tj ET Q q 0 0 0 rg BT 413.67 440.27 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.00 425.31 Td (In thousands, except per) Tj ET Q q 0 0 0 rg BT 149.55 425.31 Td (-BOE amounts and tax rates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 425.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 425.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 425.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 410.27 Td (Current income tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 410.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.80 410.32 Td (\(16,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 410.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 410.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.45 410.27 Td (\(20,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.30 410.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 410.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.30 410.32 Td (\(785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 410.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 395.27 Td (Deferred income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 395.27 Td (103,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.45 395.27 Td (\(95,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.30 395.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.80 395.32 Td (\(543,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 395.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 380.27 Td (T) Tj ET Q q 0 0 0 rg BT 69.41 380.27 Td (otal income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 380.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 380.27 Td (87,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 380.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.45 380.27 Td (\(1) Tj ET Q q 0 0 0 rg BT 452.78 380.27 Td (16,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.30 380.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 380.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.80 380.32 Td (\(544,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 380.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 365.27 Td (A) Tj ET Q q 0 0 0 rg BT 58.85 365.27 Td (verage income tax expense \(benefit\) per BOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 365.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 365.27 Td (3.96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 365.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.45 365.27 Td (\(5.30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.30 365.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 365.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.80 365.32 Td (\(23.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 365.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 350.27 Td (Ef) Tj ET Q q 0 0 0 rg BT 61.35 350.27 Td (fective tax rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 350.27 Td (21.3) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 414.65 350.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.45 350.27 Td (\(250.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.30 350.27 Td (\)%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 350.27 Td (35.8) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 552.65 350.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 335.27 Td (T) Tj ET Q q 0 0 0 rg BT 57.41 335.27 Td (otal net deferred tax liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 335.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.15 335.27 Td (309,758) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 335.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.75 335.27 Td (198,099) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 335.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.15 335.27 Td (293,878) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 307.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.61 307.10 Td (income ) Tj ET Q q 0 0 0 rg BT 117.61 307.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 132.39 307.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 176.62 307.10 Td (were ) Tj ET Q q 0 0 0 rg BT 198.61 307.10 Td (based ) Tj ET Q q 0 0 0 rg BT 223.94 307.10 Td (on ) Tj ET Q q 0 0 0 rg BT 236.51 307.10 Td (an ) Tj ET Q q 0 0 0 rg BT 248.51 307.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 289.39 307.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 326.95 307.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 344.50 307.10 Td (of ) Tj ET Q q 0 0 0 rg BT 355.39 307.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 415.71 307.10 Td (25% ) Tj ET Q q 0 0 0 rg BT 436.60 307.10 Td (for ) Tj ET Q q 0 0 0 rg BT 450.83 307.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 473.39 307.10 Td (and ) Tj ET Q q 0 0 0 rg BT 490.39 307.10 Td (38% ) Tj ET Q q 0 0 0 rg BT 511.28 307.10 Td (for ) Tj ET Q q 0 0 0 rg BT 525.50 307.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 548.07 307.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 295.10 Td (2016. ) Tj ET Q q 0 0 0 rg BT 74.18 295.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.19 295.10 Td (The ) Tj ET Q q 0 0 0 rg BT 93.76 295.10 Td (T) Tj ET Q q 0 0 0 rg BT 99.17 295.10 Td (ax ) Tj ET Q q 0 0 0 rg BT 110.78 295.10 Td (Cut ) Tj ET Q q 0 0 0 rg BT 127.41 295.10 Td (and ) Tj ET Q q 0 0 0 rg BT 144.02 295.10 Td (Jobs ) Tj ET Q q 0 0 0 rg BT 163.50 295.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 180.11 295.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 197.83 295.10 Td (�Act�\) ) Tj ET Q q 0 0 0 rg BT 226.65 295.10 Td (enacted ) Tj ET Q q 0 0 0 rg BT 259.36 295.10 Td (in ) Tj ET Q q 0 0 0 rg BT 269.32 295.10 Td (December ) Tj ET Q q 0 0 0 rg BT 312.58 295.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 334.75 295.10 Td (resulted ) Tj ET Q q 0 0 0 rg BT 368.58 295.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.53 295.10 Td (a ) Tj ET Q q 0 0 0 rg BT 385.15 295.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 425.09 295.10 Td (of ) Tj ET Q q 0 0 0 rg BT 435.59 295.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.98 295.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 479.91 295.10 Td (income ) Tj ET Q q 0 0 0 rg BT 511.52 295.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 525.92 295.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 543.08 295.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 283.10 Td (35% ) Tj ET Q q 0 0 0 rg BT 69.87 283.10 Td (to ) Tj ET Q q 0 0 0 rg BT 79.70 283.10 Td (21% ) Tj ET Q q 0 0 0 rg BT 100.07 283.10 Td (ef) Tj ET Q q 0 0 0 rg BT 107.66 283.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 136.90 283.10 Td (for ) Tj ET Q q 0 0 0 rg BT 150.61 283.10 Td (calendar ) Tj ET Q q 0 0 0 rg BT 186.51 283.10 Td (year ) Tj ET Q q 0 0 0 rg BT 205.76 283.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 230.31 283.10 Td ( ) Tj ET Q q 0 0 0 rg BT 232.35 283.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 249.94 283.10 Td (ef) Tj ET Q q 0 0 0 rg BT 257.53 283.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 286.78 283.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 301.04 283.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 318.07 283.10 Td (for ) Tj ET Q q 0 0 0 rg BT 331.77 283.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 353.81 283.10 Td (was ) Tj ET Q q 0 0 0 rg BT 371.41 283.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 396.22 283.10 Td (than ) Tj ET Q q 0 0 0 rg BT 415.48 283.10 Td (our ) Tj ET Q q 0 0 0 rg BT 430.85 283.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 471.22 283.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 508.26 283.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 525.29 283.10 Td (primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 271.10 Td (due ) Tj ET Q q 0 0 0 rg BT 65.89 271.10 Td (to ) Tj ET Q q 0 0 0 rg BT 75.61 271.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 89.78 271.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 123.38 271.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 160.32 271.10 Td (from ) Tj ET Q q 0 0 0 rg BT 181.71 271.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 221.41 271.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 233.91 271.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 270.83 271.10 Td (income ) Tj ET Q q 0 0 0 rg BT 302.21 271.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 316.38 271.10 Td (credits. ) Tj ET Q q 0 0 0 rg BT 347.48 271.10 Td ( ) Tj ET Q q 0 0 0 rg BT 349.43 271.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 366.93 271.10 Td (ef) Tj ET Q q 0 0 0 rg BT 374.52 271.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 403.67 271.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 417.83 271.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 434.76 271.10 Td (for ) Tj ET Q q 0 0 0 rg BT 448.37 271.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 470.32 271.10 Td (was ) Tj ET Q q 0 0 0 rg BT 487.82 271.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 539.75 271.10 Td (lower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 259.10 Td (than ) Tj ET Q q 0 0 0 rg BT 69.30 259.10 Td (our ) Tj ET Q q 0 0 0 rg BT 85.21 259.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 126.11 259.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 163.68 259.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 181.25 259.10 Td (due ) Tj ET Q q 0 0 0 rg BT 198.27 259.10 Td (to ) Tj ET Q q 0 0 0 rg BT 208.63 259.10 Td (a ) Tj ET Q q 0 0 0 rg BT 215.65 259.10 Td (one-time ) Tj ET Q q 0 0 0 rg BT 253.77 259.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 289.66 259.10 Td (income ) Tj ET Q q 0 0 0 rg BT 321.67 259.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 336.47 259.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 366.81 259.10 Td (of ) Tj ET Q q 0 0 0 rg BT 377.72 259.10 Td ($132.2 ) Tj ET Q q 0 0 0 rg BT 407.80 259.10 Td (million ) Tj ET Q q 0 0 0 rg BT 439.28 259.10 Td (reflecting ) Tj ET Q q 0 0 0 rg BT 480.17 259.10 Td (a ) Tj ET Q q 0 0 0 rg BT 487.19 259.10 Td (re-measurement ) Tj ET Q q 0 0 0 rg BT 554.18 259.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 247.10 Td (our ) Tj ET Q q 0 0 0 rg BT 64.14 247.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 98.76 247.10 Td (income ) Tj ET Q q 0 0 0 rg BT 129.51 247.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 143.04 247.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 167.68 247.10 Td (and ) Tj ET Q q 0 0 0 rg BT 183.44 247.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 221.97 247.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 264.37 247.10 Td (with ) Tj ET Q q 0 0 0 rg BT 283.46 247.10 Td (the ) Tj ET Q q 0 0 0 rg BT 297.00 247.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 326.06 247.10 Td (income ) Tj ET Q q 0 0 0 rg BT 356.81 247.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 370.34 247.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 386.64 247.10 Td (reduction, ) Tj ET Q q 0 0 0 rg BT 428.22 247.10 Td (as ) Tj ET Q q 0 0 0 rg BT 437.86 247.10 Td (well ) Tj ET Q q 0 0 0 rg BT 456.39 247.10 Td (as ) Tj ET Q q 0 0 0 rg BT 466.03 247.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 479.56 247.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 518.09 247.10 Td (allowances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 235.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 86.54 235.10 Td (during ) Tj ET Q q 0 0 0 rg BT 114.71 235.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.99 235.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 159.10 235.10 Td (which ) Tj ET Q q 0 0 0 rg BT 185.60 235.10 Td (also ) Tj ET Q q 0 0 0 rg BT 203.77 235.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 237.48 235.10 Td (the ) Tj ET Q q 0 0 0 rg BT 251.76 235.10 Td (net ) Tj ET Q q 0 0 0 rg BT 266.04 235.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 301.41 235.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 315.69 235.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 345.52 235.10 Td (recognized. ) Tj ET Q q 0 0 0 rg BT 393.94 235.10 Td ( ) Tj ET Q q 0 0 0 rg BT 396.00 235.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 413.62 235.10 Td (total ) Tj ET Q q 0 0 0 rg BT 433.46 235.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 447.73 235.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 487.01 235.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 529.60 235.10 Td (of ) Tj ET Q q 0 0 0 rg BT 540.00 235.10 Td ($51.1 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 223.10 Td (million ) Tj ET Q q 0 0 0 rg BT 80.34 223.10 Td (remains ) Tj ET Q q 0 0 0 rg BT 113.94 223.10 Td (unchanged ) Tj ET Q q 0 0 0 rg BT 159.20 223.10 Td (from ) Tj ET Q q 0 0 0 rg BT 180.58 223.10 Td (December ) Tj ET Q q 0 0 0 rg BT 223.61 223.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 238.05 223.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 262.50 223.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.30 223.10 Td (The ) Tj ET Q q 0 0 0 rg BT 281.79 223.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 320.95 223.10 Td (allowances ) Tj ET Q q 0 0 0 rg BT 367.32 223.10 Td (will ) Tj ET Q q 0 0 0 rg BT 384.82 223.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 414.53 223.10 Td (until ) Tj ET Q q 0 0 0 rg BT 434.81 223.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.97 223.10 Td (realization ) Tj ET Q q 0 0 0 rg BT 493.11 223.10 Td (of ) Tj ET Q q 0 0 0 rg BT 503.39 223.10 Td (future ) Tj ET Q q 0 0 0 rg BT 529.21 223.10 Td (deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 211.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 64.22 211.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 98.37 211.10 Td (are ) Tj ET Q q 0 0 0 rg BT 113.08 211.10 Td (more ) Tj ET Q q 0 0 0 rg BT 136.13 211.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 161.40 211.10 Td (than ) Tj ET Q q 0 0 0 rg BT 181.12 211.10 Td (not ) Tj ET Q q 0 0 0 rg BT 196.39 211.10 Td (to ) Tj ET Q q 0 0 0 rg BT 206.67 211.10 Td (become ) Tj ET Q q 0 0 0 rg BT 240.27 211.10 Td (utilized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 187.10 Td (As ) Tj ET Q q 0 0 0 rg BT 82.06 187.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.85 187.10 Td (December ) Tj ET Q q 0 0 0 rg BT 138.38 187.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 154.33 187.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 180.28 187.10 Td (we ) Tj ET Q q 0 0 0 rg BT 195.39 187.10 Td (had ) Tj ET Q q 0 0 0 rg BT 213.28 187.10 Td (an ) Tj ET Q q 0 0 0 rg BT 226.17 187.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 283.49 187.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 299.16 187.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 330.37 187.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 187.10 Td ($5.4 ) Tj ET Q q 0 0 0 rg BT 363.10 187.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.99 187.10 Td ( ) Tj ET Q q 0 0 0 rg BT 395.45 187.10 Td (related ) Tj ET Q q 0 0 0 rg BT 426.10 187.10 Td (to ) Tj ET Q q 0 0 0 rg BT 437.33 187.10 Td (an ) Tj ET Q q 0 0 0 rg BT 450.22 187.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 490.87 187.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 506.54 187.10 Td (position.� ) Tj ET Q q 0 0 0 rg BT 546.97 187.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 175.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 106.16 175.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 121.18 175.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 151.75 175.10 Td (was ) Tj ET Q q 0 0 0 rg BT 170.10 175.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 207.88 175.10 Td (during ) Tj ET Q q 0 0 0 rg BT 236.79 175.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 259.59 175.10 Td (as ) Tj ET Q q 0 0 0 rg BT 270.72 175.10 Td (a ) Tj ET Q q 0 0 0 rg BT 277.96 175.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 303.53 175.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 344.09 175.10 Td (of ) Tj ET Q q 0 0 0 rg BT 355.23 175.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.24 175.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 414.14 175.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 450.25 175.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 465.27 175.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 487.51 175.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 507.25 175.10 Td (if ) Tj ET Q q 0 0 0 rg BT 516.16 175.10 Td (recognized, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 163.10 Td (would ) Tj ET Q q 0 0 0 rg BT 76.41 163.10 Td (not ) Tj ET Q q 0 0 0 rg BT 91.10 163.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 133.54 163.10 Td (af) Tj ET Q q 0 0 0 rg BT 141.13 163.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 158.03 163.10 Td (our ) Tj ET Q q 0 0 0 rg BT 173.26 163.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 201.83 163.10 Td (ef) Tj ET Q q 0 0 0 rg BT 209.42 163.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 238.53 163.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 252.65 163.10 Td (rate.� ) Tj ET Q q 0 0 0 rg BT 274.41 163.10 Td (W) Tj ET Q q 0 0 0 rg BT 283.05 163.10 Td (e ) Tj ET Q q 0 0 0 rg BT 289.40 163.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 327.40 163.10 Td (do ) Tj ET Q q 0 0 0 rg BT 339.31 163.10 Td (not ) Tj ET Q q 0 0 0 rg BT 354.00 163.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 382.00 163.10 Td (a ) Tj ET Q q 0 0 0 rg BT 388.35 163.10 Td (material ) Tj ET Q q 0 0 0 rg BT 423.01 163.10 Td (change ) Tj ET Q q 0 0 0 rg BT 453.24 163.10 Td (to ) Tj ET Q q 0 0 0 rg BT 462.93 163.10 Td (the ) Tj ET Q q 0 0 0 rg BT 477.05 163.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 516.16 163.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 530.29 163.10 Td (position ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 151.10 Td (within ) Tj ET Q q 0 0 0 rg BT 77.56 151.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.27 151.10 Td (next ) Tj ET Q q 0 0 0 rg BT 111.99 151.10 Td (12 ) Tj ET Q q 0 0 0 rg BT 124.49 151.10 Td (months.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 127.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.21 127.10 Td (current ) Tj ET Q q 0 0 0 rg BT 115.69 127.10 Td (income ) Tj ET Q q 0 0 0 rg BT 147.29 127.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 161.67 127.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 191.60 127.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 228.75 127.10 Td (in ) Tj ET Q q 0 0 0 rg BT 238.69 127.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 260.85 127.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 300.23 127.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 342.93 127.10 Td (the ) Tj ET Q q 0 0 0 rg BT 357.32 127.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 397.80 127.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 441.05 127.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 484.31 127.10 Td (with ) Tj ET Q q 0 0 0 rg BT 504.25 127.10 Td (our ) Tj ET Q q 0 0 0 rg BT 519.75 127.10 Td (refundable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 115.10 Td (alternative ) Tj ET Q q 0 0 0 rg BT 94.20 115.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 135.59 115.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 150.31 115.10 Td (credits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.50 91.10 Td (As ) Tj ET Q q 0 0 0 rg BT 83.16 91.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.03 91.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 150.66 91.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 174.71 91.10 Td (we ) Tj ET Q q 0 0 0 rg BT 187.91 91.10 Td (had ) Tj ET Q q 0 0 0 rg BT 203.90 91.10 Td (no ) Tj ET Q q 0 0 0 rg BT 215.44 91.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 244.74 91.10 Td (net ) Tj ET Q q 0 0 0 rg BT 258.51 91.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 297.81 91.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 314.92 91.10 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 372.55 91.10 Td (\(�NOLs�\), ) Tj ET Q q 0 0 0 rg BT 416.57 91.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 430.33 91.10 Td (ef) Tj ET Q q 0 0 0 rg BT 437.92 91.10 Td (fected ) Tj ET Q q 0 0 0 rg BT 463.89 91.10 Td (business ) Tj ET Q q 0 0 0 rg BT 499.33 91.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 530.31 91.10 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 79.10 Td (carryforward ) Tj ET Q q 0 0 0 rg BT 104.28 79.10 Td (totaling ) Tj ET Q q 0 0 0 rg BT 137.42 79.10 Td ($9.0 ) Tj ET Q q 0 0 0 rg BT 157.51 79.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 191.50 79.10 Td (state ) Tj ET Q q 0 0 0 rg BT 212.42 79.10 Td (NOLs ) Tj ET Q q 0 0 0 rg BT 239.45 79.10 Td (and ) Tj ET Q q 0 0 0 rg BT 256.48 79.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 271.29 79.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 300.54 79.10 Td (totaling ) Tj ET Q q 0 0 0 rg BT 333.68 79.10 Td ($52.4 ) Tj ET Q q 0 0 0 rg BT 358.77 79.10 Td (million ) Tj ET Q q 0 0 0 rg BT 390.25 79.10 Td (\(before ) Tj ET Q q 0 0 0 rg BT 421.71 79.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 462.08 79.10 Td (for ) Tj ET Q q 0 0 0 rg BT 476.34 79.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 516.14 79.10 Td (allowance\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 67.10 Td (an ) Tj ET Q q 0 0 0 rg BT 61.62 67.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 102.62 67.10 Td ($57.8 ) Tj ET Q q 0 0 0 rg BT 127.81 67.10 Td (million ) Tj ET Q q 0 0 0 rg BT 159.38 67.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.39 67.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 210.83 67.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 224.07 67.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 261.72 67.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 291.06 67.10 Td (to ) Tj ET Q q 0 0 0 rg BT 301.52 67.10 Td (carry ) Tj ET Q q 0 0 0 rg BT 324.74 67.10 Td (forward ) Tj ET Q q 0 0 0 rg BT 359.07 67.10 Td (related ) Tj ET Q q 0 0 0 rg BT 388.96 67.10 Td (to ) Tj ET Q q 0 0 0 rg BT 399.42 67.10 Td (our ) Tj ET Q q 0 0 0 rg BT 415.43 67.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 446.98 67.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 491.32 67.10 Td (and ) Tj ET Q q 0 0 0 rg BT 508.44 67.10 Td ($21.6 ) Tj ET Q q 0 0 0 rg BT 533.62 67.10 Td (million ) Tj ET Q endstream endobj 113 0 obj <> endobj 114 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.25 713.10 Td (research ) Tj ET Q q 0 0 0 rg BT 95.97 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 112.83 713.10 Td (development ) Tj ET Q q 0 0 0 rg BT 166.90 713.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 195.97 713.10 Td (that ) Tj ET Q q 0 0 0 rg BT 213.39 713.10 Td (can ) Tj ET Q q 0 0 0 rg BT 229.68 713.10 Td (be ) Tj ET Q q 0 0 0 rg BT 241.54 713.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 273.95 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 284.14 713.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 313.21 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 328.96 713.10 Td (current ) Tj ET Q q 0 0 0 rg BT 359.69 713.10 Td (income ) Tj ET Q q 0 0 0 rg BT 391.54 713.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 414.51 713.10 Td (during ) Tj ET Q q 0 0 0 rg BT 443.03 713.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 465.45 713.10 Td (or ) Tj ET Q q 0 0 0 rg BT 476.20 713.10 Td (future ) Tj ET Q q 0 0 0 rg BT 502.50 713.10 Td (years.��) Tj ET Q q 0 0 0 rg BT 530.91 713.10 Td (W) Tj ET Q q 0 0 0 rg BT 539.55 713.10 Td (e ) Tj ET Q q 0 0 0 rg BT 546.41 713.10 Td (also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (have ) Tj ET Q q 0 0 0 rg BT 70.85 701.10 Td ($18.1 ) Tj ET Q q 0 0 0 rg BT 95.83 701.10 Td (million ) Tj ET Q q 0 0 0 rg BT 127.20 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 138.01 701.10 Td (alternative ) Tj ET Q q 0 0 0 rg BT 182.69 701.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 224.06 701.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 238.75 701.10 Td (credits, ) Tj ET Q q 0 0 0 rg BT 270.38 701.10 Td (which ) Tj ET Q q 0 0 0 rg BT 297.30 701.10 Td (under ) Tj ET Q q 0 0 0 rg BT 322.55 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 336.69 701.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 353.61 701.10 Td (will ) Tj ET Q q 0 0 0 rg BT 371.65 701.10 Td (be ) Tj ET Q q 0 0 0 rg BT 383.56 701.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 404.93 701.10 Td (refundable ) Tj ET Q q 0 0 0 rg BT 450.16 701.10 Td (by ) Tj ET Q q 0 0 0 rg BT 462.64 701.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 485.12 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 502.03 701.10 Td (are ) Tj ET Q q 0 0 0 rg BT 516.72 701.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 554.17 701.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.29 689.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 99.71 689.10 Td (on ) Tj ET Q q 0 0 0 rg BT 112.06 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 126.63 689.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 159.50 689.10 Td (sheet. ) Tj ET Q q 0 0 0 rg BT 184.90 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 187.25 689.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 205.15 689.10 Td (business ) Tj ET Q q 0 0 0 rg BT 241.39 689.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 273.17 689.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 307.72 689.10 Td (carryforward ) Tj ET Q q 0 0 0 rg BT 362.26 689.10 Td (does ) Tj ET Q q 0 0 0 rg BT 382.93 689.10 Td (not ) Tj ET Q q 0 0 0 rg BT 398.06 689.10 Td (expire. ) Tj ET Q q 0 0 0 rg BT 427.89 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.24 689.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 448.14 689.10 Td (state ) Tj ET Q q 0 0 0 rg BT 468.81 689.10 Td (NOLs ) Tj ET Q q 0 0 0 rg BT 495.60 689.10 Td (expire ) Tj ET Q q 0 0 0 rg BT 522.94 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 533.06 689.10 Td (various ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 76.36 677.10 Td (starting ) Tj ET Q q 0 0 0 rg BT 109.61 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 120.65 677.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 146.41 677.10 Td (although ) Tj ET Q q 0 0 0 rg BT 184.66 677.10 Td (most ) Tj ET Q q 0 0 0 rg BT 207.37 677.10 Td (do ) Tj ET Q q 0 0 0 rg BT 220.62 677.10 Td (not ) Tj ET Q q 0 0 0 rg BT 236.66 677.10 Td (begin ) Tj ET Q q 0 0 0 rg BT 262.14 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 273.17 677.10 Td (expire ) Tj ET Q q 0 0 0 rg BT 301.42 677.10 Td (until ) Tj ET Q q 0 0 0 rg BT 323.01 677.10 Td (2024. ) Tj ET Q q 0 0 0 rg BT 348.77 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 352.03 677.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 370.84 677.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 411.85 677.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 425.66 677.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 463.90 677.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 493.81 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 511.51 677.10 Td (research ) Tj ET Q q 0 0 0 rg BT 548.07 677.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (development ) Tj ET Q q 0 0 0 rg BT 103.27 665.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 132.04 665.10 Td (do ) Tj ET Q q 0 0 0 rg BT 144.16 665.10 Td (not ) Tj ET Q q 0 0 0 rg BT 159.06 665.10 Td (begin ) Tj ET Q q 0 0 0 rg BT 183.40 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 193.29 665.10 Td (expire ) Tj ET Q q 0 0 0 rg BT 220.40 665.10 Td (until ) Tj ET Q q 0 0 0 rg BT 240.85 665.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 262.97 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 279.53 665.10 Td (2031, ) Tj ET Q q 0 0 0 rg BT 304.15 665.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 351.81 665.10 Td (. ) Tj ET Q q 0 0 0 rg BT 356.43 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.39 665.10 Td (The ) Tj ET Q q 0 0 0 rg BT 376.06 665.10 Td (statutes ) Tj ET Q q 0 0 0 rg BT 408.17 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 418.62 665.10 Td (limitation ) Tj ET Q q 0 0 0 rg BT 459.63 665.10 Td (for ) Tj ET Q q 0 0 0 rg BT 473.41 665.10 Td (our ) Tj ET Q q 0 0 0 rg BT 488.86 665.10 Td (income ) Tj ET Q q 0 0 0 rg BT 520.41 665.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 534.75 665.10 Td (returns ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.66 653.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 78.38 653.10 Td (years ) Tj ET Q q 0 0 0 rg BT 101.98 653.10 Td (ending ) Tj ET Q q 0 0 0 rg BT 131.69 653.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 153.63 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 163.91 653.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 186.41 653.10 Td (have ) Tj ET Q q 0 0 0 rg BT 207.79 653.10 Td (lapsed ) Tj ET Q q 0 0 0 rg BT 235.83 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 252.77 653.10 Td (therefore ) Tj ET Q q 0 0 0 rg BT 291.36 653.10 Td (are ) Tj ET Q q 0 0 0 rg BT 306.06 653.10 Td (not ) Tj ET Q q 0 0 0 rg BT 321.34 653.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 352.17 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 362.44 653.10 Td (examination ) Tj ET Q q 0 0 0 rg BT 414.37 653.10 Td (by ) Tj ET Q q 0 0 0 rg BT 426.87 653.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 469.91 653.10 Td (taxing ) Tj ET Q q 0 0 0 rg BT 497.40 653.10 Td (authorities.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (Per-BOE ) Tj ET Q q 0 0 0 rg BT 90.33 629.10 Td (Data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 605.10 Td (The ) Tj ET Q q 0 0 0 rg BT 84.87 605.10 Td (following ) Tj ET Q q 0 0 0 rg BT 125.58 605.10 Td (table ) Tj ET Q q 0 0 0 rg BT 146.84 605.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 196.43 605.10 Td (our ) Tj ET Q q 0 0 0 rg BT 211.59 605.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 231.18 605.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 251.34 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 267.60 605.10 Td (results ) Tj ET Q q 0 0 0 rg BT 295.53 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.69 605.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 349.17 605.10 Td (on ) Tj ET Q q 0 0 0 rg BT 360.99 605.10 Td (a ) Tj ET Q q 0 0 0 rg BT 367.26 605.10 Td (per) Tj ET Q q 0 0 0 rg BT 379.83 605.10 Td (-BOE ) Tj ET Q q 0 0 0 rg BT 404.98 605.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 426.81 605.10 Td (for ) Tj ET Q q 0 0 0 rg BT 440.29 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.33 605.10 Td (comparative ) Tj ET Q q 0 0 0 rg BT 505.58 605.10 Td (periods.��Each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.05 593.10 Td (individual ) Tj ET Q q 0 0 0 rg BT 118.10 593.10 Td (components ) Tj ET Q q 0 0 0 rg BT 168.92 593.10 Td (is ) Tj ET Q q 0 0 0 rg BT 178.09 593.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 218.92 593.10 Td (above.) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 556.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 556.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 556.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 556.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 556.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 556.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 556.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 526.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 526.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 526.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 526.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 526.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 526.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 526.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 496.60 305.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 496.60 4.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 496.60 65.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 496.60 4.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 496.60 65.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 496.60 4.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 496.60 65.00 -25.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 456.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 456.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 456.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 456.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 456.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 456.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 456.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 426.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 426.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 426.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 426.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 426.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 396.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 396.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 396.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 396.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 396.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 366.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 366.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 366.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 366.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 366.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 336.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 336.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 336.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 336.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 336.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 336.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 336.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 306.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 306.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 306.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 306.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 306.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 306.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 306.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 276.60 305.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 276.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 276.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 276.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 276.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 276.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 276.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 569.6 m 423.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 569.6 m 427.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 569.6 m 492.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 569.6 m 496.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 569.6 m 561.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49.5 556.6 m 354.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 569.6 m 423.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 556.6 m 423.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 569.6 m 492.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 556.6 m 492.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 569.6 m 561.5 569.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 556.6 m 561.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 556.6 m 423.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 556.6 m 492.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 556.6 m 561.5 556.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 471.6 m 423.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 471.6 m 492.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 471.6 m 561.5 471.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 381.6 m 423.5 381.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 381.6 m 492.5 381.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 381.6 m 561.5 381.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 261.6 m 423.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 261.6 m 492.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 261.6 m 561.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 261.6 m 423.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 247.60000000000002 m 423.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 245.60000000000002 m 423.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 261.6 m 492.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 247.60000000000002 m 492.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 245.60000000000002 m 492.5 245.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 261.6 m 561.5 261.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 247.60000000000002 m 561.5 247.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 245.60000000000002 m 561.5 245.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 573.17 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.95 573.17 Td (Y) Tj ET Q q 0 0 0 rg BT 413.67 573.17 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.00 560.16 Td (Per) Tj ET Q q 0 0 0 rg BT 66.24 560.16 Td (-BOE data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.50 560.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.50 560.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.50 560.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 546.27 Td (Oil and natural gas revenues) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 546.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 546.27 Td (64.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 546.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 546.27 Td (49.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 546.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 546.27 Td (39.95) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 531.27 Td (Receipt \(payment\) on settlements of commodity derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 531.32 Td (\(7.96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 531.32 Td (\(2.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 531.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 531.27 Td (3.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 516.27 Td (Lease operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.80 516.32 Td (\(22.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 516.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.80 516.32 Td (\(20.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 516.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 516.32 Td (\(17.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 516.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 501.27 Td (Production and ad valorem taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 501.32 Td (\(4.39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 501.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 501.32 Td (\(3.60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 501.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 501.32 Td (\(2.94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 501.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 486.27 Td (Marketing expenses, net of third-party purchases, and plant operating) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 476.27 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 476.32 Td (\(1.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 476.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 476.32 Td (\(1.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 476.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 476.32 Td (\(1.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 476.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 461.27 Td (Production netback) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 461.27 Td (28.22) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 461.27 Td (21.59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 461.27 Td (20.97) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 446.27 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 65.89 444.84 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.14 446.27 Td ( sales, net of operating and exploration expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 446.27 Td (1.28) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 446.27 Td (1.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 446.27 Td (0.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 431.27 Td (General and administrative expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 431.32 Td (\(3.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 431.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 431.32 Td (\(4.63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 431.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 431.32 Td (\(4.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 431.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 416.27 Td (Interest expense, net) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 416.32 Td (\(3.16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 416.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 416.32 Td (\(4.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 416.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 416.32 Td (\(5.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 416.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 401.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 401.32 Td (\(2.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 401.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 401.27 Td (1.47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 401.32 Td (\(0.58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 401.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 386.27 Td (Changes in assets and liabilities relating to operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 386.27 Td (3.19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 386.32 Td (\(2.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 386.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 386.32 Td (\(1.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 386.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 371.27 Td (Cash flows from operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 371.27 Td (24.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.15 371.27 Td (12.14) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 371.27 Td (9.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 356.27 Td (DD&A) Tj ET Q q 0 0 0 rg BT 81.17 356.27 Td ( � excluding accelerated depreciation char) Tj ET Q q 0 0 0 rg BT 249.32 356.27 Td (ge) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 356.32 Td (\(9.83) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 356.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 356.32 Td (\(9.44) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 356.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 356.32 Td (\(10.89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 356.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 341.27 Td (DD&A) Tj ET Q q 0 0 0 rg BT 80.89 341.27 Td ( � accelerated depreciation char) Tj ET Q q 0 0 0 rg BT 207.29 341.27 Td (ge) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 216.73 345.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 341.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 341.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 341.32 Td (\(25.23) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 341.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 326.27 Td (W) Tj ET Q q 0 0 0 rg BT 61.24 326.27 Td (rite-down of oil and natural gas properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 326.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 326.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 326.32 Td (\(34.62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 326.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 311.27 Td (Deferred income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 311.32 Td (\(4.69) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 311.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 311.27 Td (4.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.15 311.27 Td (23.20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 296.27 Td (Gain on early extinguishment of debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.65 296.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.65 296.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 296.27 Td (4.91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 281.27 Td (Noncash fair value gains \(losses\) on commodity derivatives) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 291.11 285.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.15 281.27 Td (8.92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.80 281.32 Td (\(1.35) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.65 281.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.80 281.32 Td (\(9.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 281.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 266.27 Td (Other noncash items) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.80 266.32 Td (\(3.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.65 266.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 266.27 Td (1.71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.15 266.27 Td (0.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.00 251.27 Td (Net income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.00 251.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.15 251.27 Td (14.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.00 251.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.15 251.27 Td (7.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.00 251.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.80 251.32 Td (\(41.67) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 557.65 251.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 223.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 223.10 Td (Represents ) Tj ET Q q 0 0 0 rg BT 113.88 223.10 Td (an ) Tj ET Q q 0 0 0 rg BT 125.82 223.10 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 173.27 223.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 225.19 223.10 Td (char) Tj ET Q q 0 0 0 rg BT 242.22 223.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 254.16 223.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 297.75 223.10 Td (with ) Tj ET Q q 0 0 0 rg BT 318.03 223.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.74 223.10 Td (Riley ) Tj ET Q q 0 0 0 rg BT 356.91 223.10 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 383.30 223.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 399.13 223.10 Td (processing ) Tj ET Q q 0 0 0 rg BT 444.39 223.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 475.21 223.10 Td (and ) Tj ET Q q 0 0 0 rg BT 492.15 223.10 Td (related ) Tj ET Q q 0 0 0 rg BT 521.86 223.10 Td (assets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 199.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 199.10 Td (Noncash ) Tj ET Q q 0 0 0 rg BT 104.68 199.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 120.75 199.10 Td (value ) Tj ET Q q 0 0 0 rg BT 144.60 199.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 167.90 199.10 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 200.64 199.10 Td (on ) Tj ET Q q 0 0 0 rg BT 212.84 199.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 260.58 199.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 306.65 199.10 Td (is ) Tj ET Q q 0 0 0 rg BT 315.51 199.10 Td (a ) Tj ET Q q 0 0 0 rg BT 322.14 199.10 Td (non-GAAP) Tj ET Q q 0 0 0 rg BT 367.32 199.10 Td ( ) Tj ET Q q 0 0 0 rg BT 369.52 199.10 Td (measure. ) Tj ET Q q 0 0 0 rg BT 407.52 199.10 Td ( ) Tj ET Q q 0 0 0 rg BT 409.72 199.10 Td (See ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 426.35 199.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 469.65 199.10 Td (Results ) Tj ET Q q 0 0 0 rg BT 500.73 199.10 Td (T) Tj ET Q q 0 0 0 rg BT 505.37 199.10 Td (able ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.78 199.10 Td (above ) Tj ET Q q 0 0 0 rg BT 550.85 199.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 187.10 Td (a ) Tj ET Q q 0 0 0 rg BT 75.98 187.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 121.70 187.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.07 187.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.33 187.10 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 209.35 187.10 Td (between ) Tj ET Q q 0 0 0 rg BT 246.71 187.10 Td (noncash ) Tj ET Q q 0 0 0 rg BT 283.53 187.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 301.45 187.10 Td (value ) Tj ET Q q 0 0 0 rg BT 327.15 187.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 352.30 187.10 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 386.90 187.10 Td (on ) Tj ET Q q 0 0 0 rg BT 400.94 187.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 450.54 187.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 498.45 187.10 Td (to ) Tj ET Q q 0 0 0 rg BT 510.28 187.10 Td (�Commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 175.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 112.89 175.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 146.61 175.10 Td (\(income\)� ) Tj ET Q q 0 0 0 rg BT 188.65 175.10 Td (in ) Tj ET Q q 0 0 0 rg BT 197.94 175.10 Td (the ) Tj ET Q q 0 0 0 rg BT 211.67 175.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 265.96 175.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 311.36 175.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.20 175.10 Td (Operations. ) Tj ET Q q 0 0 0 rg BT 369.09 175.10 Td ( ) Tj ET Q q 0 0 0 rg BT 370.61 175.10 Td (See ) Tj ET Q q 0 0 0 rg BT 386.56 175.10 Td (also ) Tj ET Q q 0 0 0 rg BT 404.18 175.10 Td (the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 417.91 175.10 Td (Glossary ) Tj ET Q q 0 0 0 rg BT 455.54 175.10 Td (and ) Tj ET Q q 0 0 0 rg BT 472.05 175.10 Td (Selected ) Tj ET Q q 0 0 0 rg BT 506.77 175.10 Td (Abbr) Tj ET Q q 0 0 0 rg BT 526.39 175.10 Td (eviations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.50 175.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 163.10 Td (for ) Tj ET Q q 0 0 0 rg BT 81.66 163.10 Td (the ) Tj ET Q q 0 0 0 rg BT 96.38 163.10 Td (definition ) Tj ET Q q 0 0 0 rg BT 137.76 163.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.59 163.10 Td (noncash ) Tj ET Q q 0 0 0 rg BT 183.86 163.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 200.23 163.10 Td (value ) Tj ET Q q 0 0 0 rg BT 224.39 163.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 248.00 163.10 Td (\(losses\) ) Tj ET Q q 0 0 0 rg BT 281.05 163.10 Td (on ) Tj ET Q q 0 0 0 rg BT 293.55 163.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 341.60 163.10 Td (derivatives.) Tj ET Q endstream endobj 115 0 obj <> endobj 116 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (57) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 713.25 Td (MARKET) Tj ET Q q 0 0 0 rg BT 94.32 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 96.82 713.25 Td (RISK ) Tj ET Q q 0 0 0 rg BT 123.77 713.25 Td (MANAGEMENT) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 689.25 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 665.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 665.25 Td (e ) Tj ET Q q 0 0 0 rg BT 82.75 665.25 Td (finance ) Tj ET Q q 0 0 0 rg BT 114.35 665.25 Td (some ) Tj ET Q q 0 0 0 rg BT 137.64 665.25 Td (of ) Tj ET Q q 0 0 0 rg BT 148.15 665.25 Td (our ) Tj ET Q q 0 0 0 rg BT 163.65 665.25 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 213.60 665.25 Td (and ) Tj ET Q q 0 0 0 rg BT 230.22 665.25 Td (other ) Tj ET Q q 0 0 0 rg BT 252.94 665.25 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 306.21 665.25 Td (with ) Tj ET Q q 0 0 0 rg BT 326.17 665.25 Td (fixed ) Tj ET Q q 0 0 0 rg BT 348.89 665.25 Td (and ) Tj ET Q q 0 0 0 rg BT 365.51 665.25 Td (variable ) Tj ET Q q 0 0 0 rg BT 399.88 665.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 417.05 665.25 Td (debt.��) Tj ET Q q 0 0 0 rg BT 441.58 665.25 Td (These ) Tj ET Q q 0 0 0 rg BT 467.64 665.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 487.03 665.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 534.74 665.25 Td (expose ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.25 Td (us ) Tj ET Q q 0 0 0 rg BT 61.48 653.25 Td (to ) Tj ET Q q 0 0 0 rg BT 72.35 653.25 Td (market ) Tj ET Q q 0 0 0 rg BT 103.20 653.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 121.29 653.25 Td (related ) Tj ET Q q 0 0 0 rg BT 151.58 653.25 Td (to ) Tj ET Q q 0 0 0 rg BT 162.44 653.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 197.74 653.25 Td (in ) Tj ET Q q 0 0 0 rg BT 208.61 653.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 241.13 653.25 Td (rates.��) Tj ET Q q 0 0 0 rg BT 266.95 653.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.04 653.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 339.21 653.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.21 653.25 Td (, ) Tj ET Q q 0 0 0 rg BT 364.80 653.25 Td (we ) Tj ET Q q 0 0 0 rg BT 379.55 653.25 Td (had ) Tj ET Q q 0 0 0 rg BT 397.08 653.25 Td (no ) Tj ET Q q 0 0 0 rg BT 410.17 653.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 459.92 653.25 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 508.56 653.25 Td (on ) Tj ET Q q 0 0 0 rg BT 521.65 653.25 Td (our ) Tj ET Q q 0 0 0 rg BT 538.07 653.25 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 81.81 641.25 Td (bank ) Tj ET Q q 0 0 0 rg BT 103.01 641.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 127.55 641.25 Td (facility) Tj ET Q q 0 0 0 rg BT 155.22 641.25 Td (. ) Tj ET Q q 0 0 0 rg BT 159.49 641.25 Td ( ) Tj ET Q q 0 0 0 rg BT 161.26 641.25 Td (None ) Tj ET Q q 0 0 0 rg BT 184.68 641.25 Td (of ) Tj ET Q q 0 0 0 rg BT 194.78 641.25 Td (our ) Tj ET Q q 0 0 0 rg BT 209.88 641.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 243.32 641.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 262.30 641.25 Td (has ) Tj ET Q q 0 0 0 rg BT 277.40 641.25 Td (any ) Tj ET Q q 0 0 0 rg BT 293.61 641.25 Td (triggers ) Tj ET Q q 0 0 0 rg BT 325.93 641.25 Td (or ) Tj ET Q q 0 0 0 rg BT 336.02 641.25 Td (covenants ) Tj ET Q q 0 0 0 rg BT 377.78 641.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 417.86 641.25 Td (our ) Tj ET Q q 0 0 0 rg BT 432.96 641.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 451.95 641.25 Td (ratings ) Tj ET Q q 0 0 0 rg BT 480.93 641.25 Td (with ) Tj ET Q q 0 0 0 rg BT 500.48 641.25 Td (rating ) Tj ET Q q 0 0 0 rg BT 525.58 641.25 Td (agencies, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (although ) Tj ET Q q 0 0 0 rg BT 87.33 629.25 Td (under ) Tj ET Q q 0 0 0 rg BT 112.94 629.25 Td (the ) Tj ET Q q 0 0 0 rg BT 128.00 629.25 Td (NEJD ) Tj ET Q q 0 0 0 rg BT 155.28 629.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 195.88 629.25 Td (lease, ) Tj ET Q q 0 0 0 rg BT 221.20 629.25 Td (in ) Tj ET Q q 0 0 0 rg BT 231.82 629.25 Td (light ) Tj ET Q q 0 0 0 rg BT 252.99 629.25 Td (of ) Tj ET Q q 0 0 0 rg BT 264.16 629.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 289.76 629.25 Td (downgrades ) Tj ET Q q 0 0 0 rg BT 340.92 629.25 Td (in ) Tj ET Q q 0 0 0 rg BT 351.54 629.25 Td (February ) Tj ET Q q 0 0 0 rg BT 390.48 629.25 Td (2016, ) Tj ET Q q 0 0 0 rg BT 415.81 629.25 Td (we ) Tj ET Q q 0 0 0 rg BT 430.31 629.25 Td (were ) Tj ET Q q 0 0 0 rg BT 452.58 629.25 Td (required ) Tj ET Q q 0 0 0 rg BT 488.73 629.25 Td (to ) Tj ET Q q 0 0 0 rg BT 499.35 629.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 532.74 629.25 Td (a ) Tj ET Q q 0 0 0 rg BT 540.01 629.25 Td ($41.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (million ) Tj ET Q q 0 0 0 rg BT 81.15 617.25 Td (letter ) Tj ET Q q 0 0 0 rg BT 104.46 617.25 Td (of ) Tj ET Q q 0 0 0 rg BT 115.55 617.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 141.07 617.25 Td (to ) Tj ET Q q 0 0 0 rg BT 151.61 617.25 Td (the ) Tj ET Q q 0 0 0 rg BT 166.59 617.25 Td (lessor) Tj ET Q q 0 0 0 rg BT 189.52 617.25 Td (, ) Tj ET Q q 0 0 0 rg BT 194.78 617.25 Td (which ) Tj ET Q q 0 0 0 rg BT 221.98 617.25 Td (we ) Tj ET Q q 0 0 0 rg BT 236.40 617.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 274.71 617.25 Td (on ) Tj ET Q q 0 0 0 rg BT 287.47 617.25 Td (March ) Tj ET Q q 0 0 0 rg BT 316.33 617.25 Td (4, ) Tj ET Q q 0 0 0 rg BT 326.59 617.25 Td (2016. ) Tj ET Q q 0 0 0 rg BT 351.85 617.25 Td ( ) Tj ET Q q 0 0 0 rg BT 354.42 617.25 Td (The ) Tj ET Q q 0 0 0 rg BT 372.72 617.25 Td (letter ) Tj ET Q q 0 0 0 rg BT 396.03 617.25 Td (of ) Tj ET Q q 0 0 0 rg BT 407.12 617.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 432.64 617.25 Td (may ) Tj ET Q q 0 0 0 rg BT 452.62 617.25 Td (be ) Tj ET Q q 0 0 0 rg BT 464.82 617.25 Td (drawn ) Tj ET Q q 0 0 0 rg BT 492.57 617.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 515.33 617.25 Td (in ) Tj ET Q q 0 0 0 rg BT 525.87 617.25 Td (the ) Tj ET Q q 0 0 0 rg BT 540.85 617.25 Td (event ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (we ) Tj ET Q q 0 0 0 rg BT 63.25 605.25 Td (fail ) Tj ET Q q 0 0 0 rg BT 78.67 605.25 Td (to ) Tj ET Q q 0 0 0 rg BT 88.53 605.25 Td (make ) Tj ET Q q 0 0 0 rg BT 112.28 605.25 Td (a ) Tj ET Q q 0 0 0 rg BT 118.81 605.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 155.33 605.25 Td (due ) Tj ET Q q 0 0 0 rg BT 171.86 605.25 Td (under ) Tj ET Q q 0 0 0 rg BT 196.72 605.25 Td (the ) Tj ET Q q 0 0 0 rg BT 211.02 605.25 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 245.33 605.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 285.18 605.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 307.25 605.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 350.98 605.25 Td (or ) Tj ET Q q 0 0 0 rg BT 361.40 605.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 383.49 605.25 Td (other ) Tj ET Q q 0 0 0 rg BT 406.13 605.25 Td (specified ) Tj ET Q q 0 0 0 rg BT 444.31 605.25 Td (defaults ) Tj ET Q q 0 0 0 rg BT 478.06 605.25 Td (set ) Tj ET Q q 0 0 0 rg BT 491.26 605.25 Td (out ) Tj ET Q q 0 0 0 rg BT 506.13 605.25 Td (in ) Tj ET Q q 0 0 0 rg BT 515.99 605.25 Td (the ) Tj ET Q q 0 0 0 rg BT 530.30 605.25 Td (pipeline ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 89.27 593.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 111.27 593.25 Td (agreement ) Tj ET Q q 0 0 0 rg BT 154.92 593.25 Td (\(filed ) Tj ET Q q 0 0 0 rg BT 178.58 593.25 Td (as ) Tj ET Q q 0 0 0 rg BT 188.92 593.25 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 220.37 593.25 Td (99.1 ) Tj ET Q q 0 0 0 rg BT 239.88 593.25 Td (to ) Tj ET Q q 0 0 0 rg BT 249.67 593.25 Td (the ) Tj ET Q q 0 0 0 rg BT 263.90 593.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 287.58 593.25 Td (8-K ) Tj ET Q q 0 0 0 rg BT 305.14 593.25 Td (filed ) Tj ET Q q 0 0 0 rg BT 325.47 593.25 Td (with ) Tj ET Q q 0 0 0 rg BT 345.26 593.25 Td (the ) Tj ET Q q 0 0 0 rg BT 359.49 593.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 379.83 593.25 Td (on ) Tj ET Q q 0 0 0 rg BT 391.84 593.25 Td (June ) Tj ET Q q 0 0 0 rg BT 412.18 593.25 Td (5, ) Tj ET Q q 0 0 0 rg BT 421.69 593.25 Td (2008\). ) Tj ET Q q 0 0 0 rg BT 449.53 593.25 Td ( ) Tj ET Q q 0 0 0 rg BT 451.40 593.25 Td (The ) Tj ET Q q 0 0 0 rg BT 468.95 593.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 484.84 593.25 Td (values ) Tj ET Q q 0 0 0 rg BT 512.39 593.25 Td (of ) Tj ET Q q 0 0 0 rg BT 522.73 593.25 Td (our ) Tj ET Q q 0 0 0 rg BT 538.07 593.25 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 83.06 581.25 Td (second ) Tj ET Q q 0 0 0 rg BT 113.85 581.25 Td (lien ) Tj ET Q q 0 0 0 rg BT 131.87 581.25 Td (notes, ) Tj ET Q q 0 0 0 rg BT 158.50 581.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 185.96 581.25 Td (notes, ) Tj ET Q q 0 0 0 rg BT 212.59 581.25 Td (and ) Tj ET Q q 0 0 0 rg BT 230.05 581.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 257.51 581.25 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 312.19 581.25 Td (notes ) 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thousands) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 287.00 542.00 Td (2021) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 336.00 542.00 Td (2022) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.00 542.00 Td (2023) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.00 542.00 Td (2024) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 482.80 542.00 Td (T) Tj ET Q q 0 0 0 rg BT 487.13 542.00 Td (otal) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.55 550.00 Td (Fair) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 530.85 542.00 Td (V) Tj ET Q q 0 0 0 rg BT 535.74 542.00 Td (alue) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.50 528.98 Td (Fixed rate debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 314.50 529.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 510.50 529.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 559.50 529.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 516.00 Td (9% Senior Secured Second Lien Notes due 2021) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 275.50 516.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.75 516.00 Td (614,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 324.50 516.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.80 516.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 373.50 516.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 516.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 422.50 516.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.80 516.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.50 516.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.75 516.00 Td (614,919) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.50 516.00 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.75 516.00 Td (570,337) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 503.00 Td (9�% Senior Secured Second Lien Notes due 2022) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 503.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.75 503.00 Td (455,668) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 503.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.80 503.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.75 503.00 Td (455,668) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.75 503.00 Td (421,493) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 490.00 Td (7�% Senior Secured Second Lien Notes due 2024) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 490.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.80 490.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 490.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 435.75 490.00 Td (450,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.75 490.00 Td (450,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.75 490.00 Td (362,250) Tj ET Q /GS0 gs q 136.43 0 0 7.27 58.50 475.28 cm /I23 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 288.75 477.00 Td (203,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.80 477.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 477.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.80 477.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.75 477.00 Td (203,545) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.75 477.00 Td (142,482) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.50 464.00 Td (5�% Senior Subordinated Notes due 2022) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 464.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 337.75 464.00 Td (314,662) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 404.80 464.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.80 464.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.75 464.00 Td (314,662) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.75 464.00 Td (213,970) Tj ET Q /GS0 gs q 136.43 0 0 7.27 58.50 449.28 cm /I24 Do Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 451.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 355.80 451.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 386.75 451.00 Td (307,978) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 453.80 451.00 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 484.75 451.00 Td (307,978) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.75 451.00 Td (175,547) Tj ET Q BT /F1 10.00 Tf ET BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 423.25 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 98.11 423.25 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 142.81 423.25 Td (Contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 399.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 399.25 Td (e ) Tj ET Q q 0 0 0 rg BT 82.91 399.25 Td (enter ) Tj ET Q q 0 0 0 rg BT 105.22 399.25 Td (into ) Tj ET Q q 0 0 0 rg BT 123.11 399.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 136.00 399.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 178.31 399.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 216.74 399.25 Td (to ) Tj ET Q q 0 0 0 rg BT 226.85 399.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 259.73 399.25 Td (an ) Tj ET Q q 0 0 0 rg BT 271.50 399.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 312.70 399.25 Td (hedge ) Tj ET Q q 0 0 0 rg BT 338.91 399.25 Td (of ) Tj ET Q q 0 0 0 rg BT 349.57 399.25 Td (our ) Tj ET Q q 0 0 0 rg BT 365.23 399.25 Td (exposure ) Tj ET Q q 0 0 0 rg BT 403.66 399.25 Td (to ) Tj ET Q q 0 0 0 rg BT 413.77 399.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 461.66 399.25 Td (price ) Tj ET Q q 0 0 0 rg BT 483.97 399.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 501.30 399.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 544.73 399.25 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 387.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 95.06 387.25 Td (future ) Tj ET Q q 0 0 0 rg BT 120.63 387.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 132.88 387.25 Td (production ) Tj ET Q q 0 0 0 rg BT 177.90 387.25 Td (and ) Tj ET Q q 0 0 0 rg BT 194.03 387.25 Td (to ) Tj ET Q q 0 0 0 rg BT 203.50 387.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 235.74 387.25 Td (more ) Tj ET Q q 0 0 0 rg BT 257.98 387.25 Td (certainty ) Tj ET Q q 0 0 0 rg BT 294.66 387.25 Td (to ) Tj ET Q q 0 0 0 rg BT 304.13 387.25 Td (our ) Tj ET Q q 0 0 0 rg BT 319.15 387.25 Td (future ) Tj ET Q q 0 0 0 rg BT 344.72 387.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 364.18 387.25 Td (flows.��) Tj ET Q q 0 0 0 rg BT 393.73 387.25 Td (W) Tj ET Q q 0 0 0 rg BT 402.36 387.25 Td (e ) Tj ET Q q 0 0 0 rg BT 408.50 387.25 Td (do ) Tj ET Q q 0 0 0 rg BT 420.19 387.25 Td (not ) Tj ET Q q 0 0 0 rg BT 434.66 387.25 Td (hold ) Tj ET Q q 0 0 0 rg BT 454.13 387.25 Td (or ) Tj ET Q q 0 0 0 rg BT 464.16 387.25 Td (issue ) Tj ET Q q 0 0 0 rg BT 485.85 387.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 527.52 387.25 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 375.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 98.26 375.25 Td (for ) Tj ET Q q 0 0 0 rg BT 112.02 375.25 Td (trading ) Tj ET Q q 0 0 0 rg BT 142.44 375.25 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 182.59 375.25 Td (�Generally) Tj ET Q q 0 0 0 rg BT 223.86 375.25 Td (, ) Tj ET Q q 0 0 0 rg BT 228.46 375.25 Td (these ) Tj ET Q q 0 0 0 rg BT 251.10 375.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 289.29 375.25 Td (have ) Tj ET Q q 0 0 0 rg BT 310.26 375.25 Td (consisted ) Tj ET Q q 0 0 0 rg BT 349.58 375.25 Td (of ) Tj ET Q q 0 0 0 rg BT 360.00 375.25 Td (various ) Tj ET Q q 0 0 0 rg BT 391.54 375.25 Td (combinations ) Tj ET Q q 0 0 0 rg BT 447.52 375.25 Td (of ) Tj ET Q q 0 0 0 rg BT 457.94 375.25 Td (price ) Tj ET Q q 0 0 0 rg BT 480.02 375.25 Td (floors, ) Tj ET Q q 0 0 0 rg BT 507.95 375.25 Td (collars, ) Tj ET Q q 0 0 0 rg BT 539.20 375.25 Td (three-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 363.25 Td (way ) Tj ET Q q 0 0 0 rg BT 68.78 363.25 Td (collars, ) Tj ET Q q 0 0 0 rg BT 100.56 363.25 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 147.05 363.25 Td (swaps, ) Tj ET Q q 0 0 0 rg BT 176.62 363.25 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 223.10 363.25 Td (swaps ) Tj ET Q q 0 0 0 rg BT 250.17 363.25 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 290.55 363.25 Td (with ) Tj ET Q q 0 0 0 rg BT 310.95 363.25 Td (a ) Tj ET Q q 0 0 0 rg BT 318.01 363.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 337.30 363.25 Td (put, ) Tj ET Q q 0 0 0 rg BT 355.20 363.25 Td (and ) Tj ET Q q 0 0 0 rg BT 372.27 363.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 394.89 363.25 Td (swaps.��) Tj ET Q q 0 0 0 rg BT 426.65 363.25 Td (The ) Tj ET Q q 0 0 0 rg BT 444.82 363.25 Td (production ) Tj ET Q q 0 0 0 rg BT 490.77 363.25 Td (that ) Tj ET Q q 0 0 0 rg BT 508.39 363.25 Td (we ) Tj ET Q q 0 0 0 rg BT 522.67 363.25 Td (hedge ) Tj ET Q q 0 0 0 rg BT 549.17 363.25 Td (has ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 351.25 Td (varied ) Tj ET Q q 0 0 0 rg BT 76.66 351.25 Td (from ) Tj ET Q q 0 0 0 rg BT 98.26 351.25 Td (year ) Tj ET Q q 0 0 0 rg BT 117.64 351.25 Td (to ) Tj ET Q q 0 0 0 rg BT 127.59 351.25 Td (year ) Tj ET Q q 0 0 0 rg BT 146.97 351.25 Td (depending ) Tj ET Q q 0 0 0 rg BT 190.79 351.25 Td (on ) Tj ET Q q 0 0 0 rg BT 202.96 351.25 Td (our ) Tj ET Q q 0 0 0 rg BT 218.46 351.25 Td (levels ) Tj ET Q q 0 0 0 rg BT 243.96 351.25 Td (of ) Tj ET Q q 0 0 0 rg BT 254.46 351.25 Td (debt, ) Tj ET Q q 0 0 0 rg BT 276.35 351.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 313.50 351.25 Td (strength, ) Tj ET Q q 0 0 0 rg BT 350.39 351.25 Td (and ) Tj ET Q q 0 0 0 rg BT 367.00 351.25 Td (expectation ) Tj ET Q q 0 0 0 rg BT 415.25 351.25 Td (of ) Tj ET Q q 0 0 0 rg BT 425.75 351.25 Td (future ) Tj ET Q q 0 0 0 rg BT 451.80 351.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 499.52 351.25 Td (prices.��In ) Tj ET Q q 0 0 0 rg BT 541.40 351.25 Td (order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 339.25 Td (to ) Tj ET Q q 0 0 0 rg BT 59.72 339.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 92.71 339.25 Td (a ) Tj ET Q q 0 0 0 rg BT 99.60 339.25 Td (level ) Tj ET Q q 0 0 0 rg BT 121.47 339.25 Td (of ) Tj ET Q q 0 0 0 rg BT 132.25 339.25 Td (price ) Tj ET Q q 0 0 0 rg BT 154.68 339.25 Td (protection ) Tj ET Q q 0 0 0 rg BT 197.66 339.25 Td (to ) Tj ET Q q 0 0 0 rg BT 207.88 339.25 Td (a ) Tj ET Q q 0 0 0 rg BT 214.77 339.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 246.10 339.25 Td (of ) Tj ET Q q 0 0 0 rg BT 256.87 339.25 Td (our ) Tj ET Q q 0 0 0 rg BT 272.64 339.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 285.65 339.25 Td (production, ) Tj ET Q q 0 0 0 rg BT 333.91 339.25 Td (we ) Tj ET Q q 0 0 0 rg BT 348.02 339.25 Td (have ) Tj ET Q q 0 0 0 rg BT 369.34 339.25 Td (hedged ) Tj ET Q q 0 0 0 rg BT 400.66 339.25 Td (a ) Tj ET Q q 0 0 0 rg BT 407.54 339.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 438.87 339.25 Td (of ) Tj ET Q q 0 0 0 rg BT 449.65 339.25 Td (our ) Tj ET Q q 0 0 0 rg BT 465.42 339.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 506.18 339.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 519.19 339.25 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 327.25 Td (through ) Tj ET Q q 0 0 0 rg BT 83.22 327.25 Td (2020 ) Tj ET Q q 0 0 0 rg BT 105.83 327.25 Td (using ) Tj ET Q q 0 0 0 rg BT 130.11 327.25 Td (both ) Tj ET Q q 0 0 0 rg BT 150.50 327.25 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 189.78 327.25 Td (and ) Tj ET Q q 0 0 0 rg BT 206.83 327.25 Td (LLS ) Tj ET Q q 0 0 0 rg BT 227.22 327.25 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 273.69 327.25 Td (swaps ) Tj ET Q q 0 0 0 rg BT 300.75 327.25 Td (and ) Tj ET Q q 0 0 0 rg BT 317.80 327.25 Td (three-way ) Tj ET Q q 0 0 0 rg BT 360.38 327.25 Td (collars. ) Tj ET Q q 0 0 0 rg BT 392.15 327.25 Td ( ) Tj ET Q q 0 0 0 rg BT 394.76 327.25 Td (Depending ) Tj ET Q q 0 0 0 rg BT 441.25 327.25 Td (on ) Tj ET Q q 0 0 0 rg BT 453.86 327.25 Td (market ) Tj ET Q q 0 0 0 rg BT 484.24 327.25 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 531.01 327.25 Td (we ) Tj ET Q q 0 0 0 rg BT 545.28 327.25 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 315.25 Td (continue ) Tj ET Q q 0 0 0 rg BT 86.90 315.25 Td (to ) Tj ET Q q 0 0 0 rg BT 97.65 315.25 Td (add ) Tj ET Q q 0 0 0 rg BT 115.06 315.25 Td (to ) Tj ET Q q 0 0 0 rg BT 125.80 315.25 Td (our ) Tj ET Q q 0 0 0 rg BT 142.10 315.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 176.74 315.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 199.71 315.25 Td (and ) Tj ET Q q 0 0 0 rg BT 217.11 315.25 Td (2020 ) Tj ET Q q 0 0 0 rg BT 240.08 315.25 Td (hedges. ) Tj ET Q q 0 0 0 rg BT 273.32 315.25 Td ( ) Tj ET Q q 0 0 0 rg BT 276.29 315.25 Td (See ) Tj ET Q q 0 0 0 rg BT 293.69 315.25 Td (also ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.77 315.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 335.18 315.25 Td (10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.18 315.25 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 350.65 315.25 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 399.72 315.25 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 444.90 315.25 Td (Contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.34 315.25 Td (, ) Tj ET Q q 0 0 0 rg BT 489.81 315.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.22 315.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 529.63 315.25 Td (1) Tj ET Q q 0 0 0 rg BT 534.26 315.25 Td (1) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 539.26 315.25 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 544.72 315.25 Td (Fair ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 303.25 Td (V) Tj ET Q q 0 0 0 rg BT 54.50 303.25 Td (alue ) Tj ET Q q 0 0 0 rg BT 74.83 303.25 Td (Measur) Tj ET Q q 0 0 0 rg BT 105.01 303.25 Td (ements) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 132.78 303.25 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 135.28 303.25 Td ( ) Tj ET Q q 0 0 0 rg BT 138.39 303.25 Td (to ) Tj ET Q q 0 0 0 rg BT 149.28 303.25 Td (the ) Tj ET Q q 0 0 0 rg BT 164.60 303.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 220.49 303.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 260.81 303.25 Td (Statements ) Tj ET Q q 0 0 0 rg BT 307.80 303.25 Td (for ) Tj ET Q q 0 0 0 rg BT 322.57 303.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 365.67 303.25 Td (information ) Tj ET Q q 0 0 0 rg BT 415.99 303.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 457.42 303.25 Td (our ) Tj ET Q q 0 0 0 rg BT 473.86 303.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 522.52 303.25 Td (derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 291.25 Td (contracts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 267.25 Td (All ) Tj ET Q q 0 0 0 rg BT 82.73 267.25 Td (of ) Tj ET Q q 0 0 0 rg BT 93.51 267.25 Td (the ) Tj ET Q q 0 0 0 rg BT 108.18 267.25 Td (mark-to-market ) Tj ET Q q 0 0 0 rg BT 173.38 267.25 Td (valuations ) Tj ET Q q 0 0 0 rg BT 216.93 267.25 Td (used ) Tj ET Q q 0 0 0 rg BT 237.71 267.25 Td (for ) Tj ET Q q 0 0 0 rg BT 251.82 267.25 Td (our ) Tj ET Q q 0 0 0 rg BT 267.60 267.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 315.60 267.25 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 361.92 267.25 Td (are ) Tj ET Q q 0 0 0 rg BT 376.58 267.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 414.58 267.25 Td (by ) Tj ET Q q 0 0 0 rg BT 427.03 267.25 Td (external ) Tj ET Q q 0 0 0 rg BT 461.68 267.25 Td (sources.��) Tj ET Q q 0 0 0 rg BT 498.99 267.25 Td (W) Tj ET Q q 0 0 0 rg BT 507.63 267.25 Td (e ) Tj ET Q q 0 0 0 rg BT 514.52 267.25 Td (manage ) Tj ET Q q 0 0 0 rg BT 548.06 267.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 255.25 Td (control ) Tj ET Q q 0 0 0 rg BT 81.57 255.25 Td (market ) Tj ET Q q 0 0 0 rg BT 113.07 255.25 Td (and ) Tj ET Q q 0 0 0 rg BT 131.25 255.25 Td (counterparty ) Tj ET Q q 0 0 0 rg BT 185.52 255.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 212.02 255.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 230.76 255.25 Td (through ) Tj ET Q q 0 0 0 rg BT 265.61 255.25 Td (established ) Tj ET Q q 0 0 0 rg BT 313.79 255.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 348.07 255.25 Td (control ) Tj ET Q q 0 0 0 rg BT 380.13 255.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 427.74 255.25 Td (that ) Tj ET Q q 0 0 0 rg BT 446.48 255.25 Td (are ) Tj ET Q q 0 0 0 rg BT 462.42 255.25 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 502.81 255.25 Td (on ) Tj ET Q q 0 0 0 rg BT 516.55 255.25 Td (an ) Tj ET Q q 0 0 0 rg BT 529.73 255.25 Td (ongoing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 243.25 Td (basis.��) Tj ET Q q 0 0 0 rg BT 76.82 243.25 Td (W) Tj ET Q q 0 0 0 rg BT 85.46 243.25 Td (e ) Tj ET Q q 0 0 0 rg BT 92.69 243.25 Td (attempt ) Tj ET Q q 0 0 0 rg BT 125.47 243.25 Td (to ) Tj ET Q q 0 0 0 rg BT 136.05 243.25 Td (minimize ) Tj ET Q q 0 0 0 rg BT 176.61 243.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 202.17 243.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 219.96 243.25 Td (exposure ) Tj ET Q q 0 0 0 rg BT 258.86 243.25 Td (to ) Tj ET Q q 0 0 0 rg BT 269.43 243.25 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 328.86 243.25 Td (through ) Tj ET Q q 0 0 0 rg BT 362.77 243.25 Td (formal ) Tj ET Q q 0 0 0 rg BT 392.22 243.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 417.77 243.25 Td (policies, ) Tj ET Q q 0 0 0 rg BT 454.17 243.25 Td (monitoring ) Tj ET Q q 0 0 0 rg BT 501.41 243.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 548.07 243.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 231.25 Td (diversification.��) Tj ET Q q 0 0 0 rg BT 114.21 231.25 Td (All ) Tj ET Q q 0 0 0 rg BT 129.71 231.25 Td (of ) Tj ET Q q 0 0 0 rg BT 140.75 231.25 Td (our ) Tj ET Q q 0 0 0 rg BT 156.80 231.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 205.08 231.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 247.78 231.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 286.59 231.25 Td (are ) Tj ET Q q 0 0 0 rg BT 301.52 231.25 Td (with ) Tj ET Q q 0 0 0 rg BT 322.01 231.25 Td (parties ) Tj ET Q q 0 0 0 rg BT 351.39 231.25 Td (that ) Tj ET Q q 0 0 0 rg BT 369.10 231.25 Td (are ) Tj ET Q q 0 0 0 rg BT 384.03 231.25 Td (lenders ) Tj ET Q q 0 0 0 rg BT 415.63 231.25 Td (under ) Tj ET Q q 0 0 0 rg BT 441.12 231.25 Td (our ) Tj ET Q q 0 0 0 rg BT 457.17 231.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 484.32 231.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 517.58 231.25 Td (bank ) Tj ET Q q 0 0 0 rg BT 539.74 231.25 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 219.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 80.11 219.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 94.06 219.25 Td (af) Tj ET Q q 0 0 0 rg BT 101.65 219.25 Td (filiates ) Tj ET Q q 0 0 0 rg BT 131.15 219.25 Td (of ) Tj ET Q q 0 0 0 rg BT 141.78 219.25 Td (such ) Tj ET Q q 0 0 0 rg BT 162.40 219.25 Td (lenders\).��) Tj ET Q q 0 0 0 rg BT 201.92 219.25 Td (W) Tj ET Q q 0 0 0 rg BT 210.56 219.25 Td (e ) Tj ET Q q 0 0 0 rg BT 217.29 219.25 Td (have ) Tj ET Q q 0 0 0 rg BT 238.46 219.25 Td (included ) Tj ET Q q 0 0 0 rg BT 275.19 219.25 Td (an ) Tj ET Q q 0 0 0 rg BT 286.92 219.25 Td (estimate ) Tj ET Q q 0 0 0 rg BT 322.53 219.25 Td (of ) Tj ET Q q 0 0 0 rg BT 333.15 219.25 Td (nonperformance ) Tj ET Q q 0 0 0 rg BT 400.96 219.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 418.25 219.25 Td (in ) Tj ET Q q 0 0 0 rg BT 428.32 219.25 Td (the ) Tj ET Q q 0 0 0 rg BT 442.83 219.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 459.00 219.25 Td (value ) Tj ET Q q 0 0 0 rg BT 482.95 219.25 Td (measurement ) Tj ET Q q 0 0 0 rg BT 538.55 219.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.17 219.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 207.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 98.46 207.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 141.85 207.25 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 183.86 207.25 Td (which ) Tj ET Q q 0 0 0 rg BT 211.71 207.25 Td (we ) Tj ET Q q 0 0 0 rg BT 226.78 207.25 Td (have ) Tj ET Q q 0 0 0 rg BT 249.07 207.25 Td (measured ) Tj ET Q q 0 0 0 rg BT 290.79 207.25 Td (for ) Tj ET Q q 0 0 0 rg BT 305.86 207.25 Td (nonperformance ) Tj ET Q q 0 0 0 rg BT 374.80 207.25 Td (risk ) Tj ET Q q 0 0 0 rg BT 393.21 207.25 Td (based ) Tj ET Q q 0 0 0 rg BT 419.39 207.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 442.80 207.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 468.97 207.25 Td (default ) Tj ET Q q 0 0 0 rg BT 500.14 207.25 Td (swaps ) Tj ET Q q 0 0 0 rg BT 528.00 207.25 Td (or ) Tj ET Q q 0 0 0 rg BT 539.74 207.25 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 195.25 Td (spreads. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 171.25 Td (For ) Tj ET Q q 0 0 0 rg BT 84.64 171.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 131.76 171.25 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 173.06 171.25 Td (we ) Tj ET Q q 0 0 0 rg BT 187.97 171.25 Td (do ) Tj ET Q q 0 0 0 rg BT 201.22 171.25 Td (not ) Tj ET Q q 0 0 0 rg BT 217.25 171.25 Td (apply ) Tj ET Q q 0 0 0 rg BT 242.71 171.25 Td (hedge ) Tj ET Q q 0 0 0 rg BT 269.84 171.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 316.96 171.25 Td (to ) Tj ET Q q 0 0 0 rg BT 327.98 171.25 Td (our ) Tj ET Q q 0 0 0 rg BT 344.56 171.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 393.36 171.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 436.59 171.25 Td (contracts.��) Tj ET Q q 0 0 0 rg BT 480.00 171.25 Td (This ) Tj ET Q q 0 0 0 rg BT 501.03 171.25 Td (means ) Tj ET Q q 0 0 0 rg BT 529.83 171.25 Td (that ) Tj ET Q q 0 0 0 rg BT 548.07 171.25 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 159.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 84.77 159.25 Td (in ) Tj ET Q q 0 0 0 rg BT 95.61 159.25 Td (the ) Tj ET Q q 0 0 0 rg BT 110.89 159.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 127.83 159.25 Td (value ) Tj ET Q q 0 0 0 rg BT 152.55 159.25 Td (of ) Tj ET Q q 0 0 0 rg BT 163.94 159.25 Td (these ) Tj ET Q q 0 0 0 rg BT 187.55 159.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 236.17 159.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 279.21 159.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 318.37 159.25 Td (will ) Tj ET Q q 0 0 0 rg BT 336.99 159.25 Td (be ) Tj ET Q q 0 0 0 rg BT 349.49 159.25 Td (char) Tj ET Q q 0 0 0 rg BT 366.51 159.25 Td (ged ) Tj ET Q q 0 0 0 rg BT 384.02 159.25 Td (to ) Tj ET Q q 0 0 0 rg BT 394.86 159.25 Td (earnings ) Tj ET Q q 0 0 0 rg BT 431.80 159.25 Td (instead ) Tj ET Q q 0 0 0 rg BT 463.19 159.25 Td (of ) Tj ET Q q 0 0 0 rg BT 474.58 159.25 Td (char) Tj ET Q q 0 0 0 rg BT 491.60 159.25 Td (ging ) Tj ET Q q 0 0 0 rg BT 512.45 159.25 Td (the ) Tj ET Q q 0 0 0 rg BT 527.73 159.25 Td (ef) Tj ET Q q 0 0 0 rg BT 535.31 159.25 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 147.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 80.89 147.25 Td (to ) Tj ET Q q 0 0 0 rg BT 91.17 147.25 Td (other ) Tj ET Q q 0 0 0 rg BT 114.21 147.25 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 177.24 147.25 Td (income ) Tj ET Q q 0 0 0 rg BT 209.18 147.25 Td (and ) Tj ET Q q 0 0 0 rg BT 226.12 147.25 Td (the ) Tj ET Q q 0 0 0 rg BT 240.83 147.25 Td (inef) Tj ET Q q 0 0 0 rg BT 256.20 147.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 285.90 147.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 317.29 147.25 Td (to ) Tj ET Q q 0 0 0 rg BT 327.57 147.25 Td (earnings.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 123.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.95 123.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 138.49 123.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.49 123.25 Td (, ) Tj ET Q q 0 0 0 rg BT 163.44 123.25 Td (our ) Tj ET Q q 0 0 0 rg BT 179.22 123.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 227.22 123.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 269.65 123.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 308.20 123.25 Td (were ) Tj ET Q q 0 0 0 rg BT 330.08 123.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 367.50 123.25 Td (at ) Tj ET Q q 0 0 0 rg BT 377.17 123.25 Td (their ) Tj ET Q q 0 0 0 rg BT 397.95 123.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 414.28 123.25 Td (value, ) Tj ET Q q 0 0 0 rg BT 440.88 123.25 Td (which ) Tj ET Q q 0 0 0 rg BT 467.77 123.25 Td (was ) Tj ET Q q 0 0 0 rg BT 485.78 123.25 Td (a ) Tj ET Q q 0 0 0 rg BT 492.67 123.25 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.33 123.25 Td (asset) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.77 123.25 Td ( ) Tj ET Q q 0 0 0 rg BT 529.22 123.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.00 123.25 Td ($97.3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 111.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 111.25 Td (, ) Tj ET Q q 0 0 0 rg BT 83.60 111.25 Td (a ) Tj ET Q q 0 0 0 rg BT 90.75 111.25 Td ($196.4 ) Tj ET Q q 0 0 0 rg BT 120.96 111.25 Td (million ) Tj ET Q q 0 0 0 rg BT 152.57 111.25 Td (increase ) Tj ET Q q 0 0 0 rg BT 188.03 111.25 Td (from ) Tj ET Q q 0 0 0 rg BT 210.18 111.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 225.11 111.25 Td ($99.1 ) Tj ET Q q 0 0 0 rg BT 250.32 111.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.21 111.25 Td ( ) Tj ET Q q 0 0 0 rg BT 281.93 111.25 Td (net ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.85 111.25 Td (liability) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.96 111.25 Td ( ) Tj ET Q q 0 0 0 rg BT 330.67 111.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 368.36 111.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.29 111.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 437.08 111.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.08 111.25 Td (.��) Tj ET Q q 0 0 0 rg BT 464.40 111.25 Td (This ) Tj ET Q q 0 0 0 rg BT 484.89 111.25 Td (change ) Tj ET Q q 0 0 0 rg BT 515.92 111.25 Td (is ) Tj ET Q q 0 0 0 rg BT 525.30 111.25 Td (primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 99.25 Td (related ) Tj ET Q q 0 0 0 rg BT 79.04 99.25 Td (to ) Tj ET Q q 0 0 0 rg BT 89.15 99.25 Td (the ) Tj ET Q q 0 0 0 rg BT 103.70 99.25 Td (expiration ) Tj ET Q q 0 0 0 rg BT 146.57 99.25 Td (of ) Tj ET Q q 0 0 0 rg BT 157.23 99.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 205.12 99.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 247.43 99.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 285.86 99.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.30 99.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.30 99.25 Td (, ) Tj ET Q q 0 0 0 rg BT 339.13 99.25 Td (new ) Tj ET Q q 0 0 0 rg BT 358.13 99.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 406.01 99.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 448.33 99.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 486.75 99.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 518.51 99.25 Td (into ) Tj ET Q q 0 0 0 rg BT 536.40 99.25 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 87.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 87.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.00 87.25 Td (for ) Tj ET Q q 0 0 0 rg BT 86.16 87.25 Td (future ) Tj ET Q q 0 0 0 rg BT 112.54 87.25 Td (periods, ) Tj ET Q q 0 0 0 rg BT 146.98 87.25 Td (and ) Tj ET Q q 0 0 0 rg BT 163.91 87.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 198.62 87.25 Td (in ) Tj ET Q q 0 0 0 rg BT 208.90 87.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 221.96 87.25 Td (futures ) Tj ET Q q 0 0 0 rg BT 252.22 87.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 278.60 87.25 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.42 87.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 373.00 87.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.00 87.25 Td ( ) Tj ET Q q 0 0 0 rg BT 395.50 87.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.44 87.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.44 87.25 Td (.) Tj ET Q endstream endobj 117 0 obj <> endobj 118 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (58) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 98.11 713.10 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 142.81 713.10 Td (Sensitivity ) Tj ET Q q 0 0 0 rg BT 186.23 713.10 Td (Analysis) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 689.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 93.82 689.10 Td (on ) Tj ET Q q 0 0 0 rg BT 105.71 689.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 144.25 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 160.58 689.10 Td (LLS ) Tj ET Q q 0 0 0 rg BT 180.24 689.10 Td (crude ) Tj ET Q q 0 0 0 rg BT 204.33 689.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 216.77 689.10 Td (futures ) Tj ET Q q 0 0 0 rg BT 246.42 689.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 272.18 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 282.40 689.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.61 689.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 350.58 689.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 370.58 689.10 Td (, ) Tj ET Q q 0 0 0 rg BT 374.96 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 391.29 689.10 Td (assuming ) Tj ET Q q 0 0 0 rg BT 430.95 689.10 Td (both ) Tj ET Q q 0 0 0 rg BT 450.61 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 456.93 689.10 Td (10% ) Tj ET Q q 0 0 0 rg BT 477.15 689.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 511.78 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 528.11 689.10 Td (decrease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (thereon, ) Tj ET Q q 0 0 0 rg BT 84.49 677.10 Td (we ) Tj ET Q q 0 0 0 rg BT 98.65 677.10 Td (would ) Tj ET Q q 0 0 0 rg BT 126.15 677.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 154.74 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 165.02 677.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 196.38 677.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 237.21 677.10 Td (on ) Tj ET Q q 0 0 0 rg BT 249.71 677.10 Td (our ) Tj ET Q q 0 0 0 rg BT 265.54 677.10 Td (crude ) Tj ET Q q 0 0 0 rg BT 290.24 677.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 303.30 677.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 345.78 677.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 384.37 677.10 Td (as ) Tj ET Q q 0 0 0 rg BT 395.20 677.10 Td (shown ) Tj ET Q q 0 0 0 rg BT 423.82 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 434.09 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.81 677.10 Td (following ) Tj ET Q q 0 0 0 rg BT 490.20 677.10 Td (table:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 638.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 638.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 638.60 134.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 608.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 608.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 608.60 134.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 653.6 m 425 653.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 653.6 m 563 653.6 l s BT /F4 8.00 Tf ET q 0 0 0 rg BT 52.50 657.85 Td (In thousands) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.70 657.85 Td (Receipts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 643.27 Td (Based on:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 643.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 628.27 Td (Futures prices as of December 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 628.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 628.27 Td (126,497) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 613.27 Td (10% increase in prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 613.27 Td (80,315) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 598.27 Td (10% decrease in prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 598.27 Td (145,173) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 570.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.38 570.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 133.25 570.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 175.56 570.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 213.97 570.10 Td (are ) Tj ET Q q 0 0 0 rg BT 228.51 570.10 Td (used ) Tj ET Q q 0 0 0 rg BT 249.16 570.10 Td (as ) Tj ET Q q 0 0 0 rg BT 259.81 570.10 Td (an ) Tj ET Q q 0 0 0 rg BT 271.58 570.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 312.77 570.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 338.97 570.10 Td (of ) Tj ET Q q 0 0 0 rg BT 349.63 570.10 Td (our ) Tj ET Q q 0 0 0 rg BT 365.28 570.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 403.71 570.10 Td (to ) Tj ET Q q 0 0 0 rg BT 413.81 570.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 461.68 570.10 Td (price ) Tj ET Q q 0 0 0 rg BT 483.99 570.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 501.32 570.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 544.74 570.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 95.70 558.10 Td (future ) Tj ET Q q 0 0 0 rg BT 121.90 558.10 Td (production. ) Tj ET Q q 0 0 0 rg BT 170.05 558.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.87 558.10 Td (As ) Tj ET Q q 0 0 0 rg BT 185.31 558.10 Td (a ) Tj ET Q q 0 0 0 rg BT 192.08 558.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 219.12 558.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 253.66 558.10 Td (in ) Tj ET Q q 0 0 0 rg BT 263.76 558.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 297.18 558.10 Td (or ) Tj ET Q q 0 0 0 rg BT 307.84 558.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 348.50 558.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.15 558.10 Td (our ) Tj ET Q q 0 0 0 rg BT 374.81 558.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 422.69 558.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 465.00 558.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 503.42 558.10 Td (due ) Tj ET Q q 0 0 0 rg BT 520.19 558.10 Td (to ) Tj ET Q q 0 0 0 rg BT 530.30 558.10 Td (changes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.90 546.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 108.07 546.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 137.07 546.10 Td (as ) Tj ET Q q 0 0 0 rg BT 148.02 546.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 185.61 546.10 Td (in ) Tj ET Q q 0 0 0 rg BT 196.01 546.10 Td (the ) Tj ET Q q 0 0 0 rg BT 210.85 546.10 Td (above ) Tj ET Q q 0 0 0 rg BT 237.35 546.10 Td (table, ) Tj ET Q q 0 0 0 rg BT 261.90 546.10 Td (would ) Tj ET Q q 0 0 0 rg BT 289.52 546.10 Td (be ) Tj ET Q q 0 0 0 rg BT 301.58 546.10 Td (mostly ) Tj ET Q q 0 0 0 rg BT 331.43 546.10 Td (of) Tj ET Q q 0 0 0 rg BT 339.58 546.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 356.64 546.10 Td (by ) Tj ET Q q 0 0 0 rg BT 369.26 546.10 Td (a ) Tj ET Q q 0 0 0 rg BT 376.32 546.10 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 436.15 546.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 471.52 546.10 Td (or ) Tj ET Q q 0 0 0 rg BT 482.48 546.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 519.51 546.10 Td (in ) Tj ET Q q 0 0 0 rg BT 529.91 546.10 Td (the ) Tj ET Q q 0 0 0 rg BT 544.75 546.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.10 Td (receipts ) Tj ET Q q 0 0 0 rg BT 83.09 534.10 Td (on ) Tj ET Q q 0 0 0 rg BT 95.59 534.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 117.53 534.10 Td (of ) Tj ET Q q 0 0 0 rg BT 128.36 534.10 Td (our ) Tj ET Q q 0 0 0 rg BT 144.19 534.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 157.25 534.10 Td (and ) Tj ET Q q 0 0 0 rg BT 174.19 534.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 204.45 534.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 220.28 534.10 Td (production ) Tj ET Q q 0 0 0 rg BT 266.11 534.10 Td (to ) Tj ET Q q 0 0 0 rg BT 276.38 534.10 Td (which ) Tj ET Q q 0 0 0 rg BT 303.32 534.10 Td (those ) Tj ET Q q 0 0 0 rg BT 326.93 534.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 374.98 534.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 417.46 534.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 456.06 534.10 Td (relate.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 510.10 Td (CRITICAL) Tj ET Q q 0 0 0 rg BT 98.96 510.10 Td ( ) Tj ET Q q 0 0 0 rg BT 100.91 510.10 Td (ACCOUNTING ) Tj ET Q q 0 0 0 rg BT 172.85 510.10 Td (POLICIES ) Tj ET Q q 0 0 0 rg BT 222.60 510.10 Td (AND ) Tj ET Q q 0 0 0 rg BT 246.76 510.10 Td (ESTIMA) Tj ET Q q 0 0 0 rg BT 285.47 510.10 Td (TES) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 486.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.77 486.10 Td (preparation ) Tj ET Q q 0 0 0 rg BT 134.02 486.10 Td (of ) Tj ET Q q 0 0 0 rg BT 145.07 486.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 182.76 486.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 227.70 486.10 Td (in ) Tj ET Q q 0 0 0 rg BT 238.19 486.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 285.87 486.10 Td (with ) Tj ET Q q 0 0 0 rg BT 306.37 486.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 346.29 486.10 Td (accepted ) Tj ET Q q 0 0 0 rg BT 383.98 486.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 430.57 486.10 Td (principles ) Tj ET Q q 0 0 0 rg BT 472.72 486.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 507.65 486.10 Td (that ) Tj ET Q q 0 0 0 rg BT 525.36 486.10 Td (we ) Tj ET Q q 0 0 0 rg BT 539.74 486.10 Td (select ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 78.93 474.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 125.04 474.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 158.37 474.10 Td (and ) Tj ET Q q 0 0 0 rg BT 175.04 474.10 Td (make ) Tj ET Q q 0 0 0 rg BT 198.92 474.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 228.36 474.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 267.80 474.10 Td (and ) Tj ET Q q 0 0 0 rg BT 284.47 474.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 328.36 474.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 368.91 474.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.36 474.10 Td (application ) Tj ET Q q 0 0 0 rg BT 430.02 474.10 Td (of ) Tj ET Q q 0 0 0 rg BT 440.58 474.10 Td (those ) Tj ET Q q 0 0 0 rg BT 463.92 474.10 Td (policies.��Our ) Tj ET Q q 0 0 0 rg BT 520.30 474.10 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 96.82 462.10 Td (policies ) Tj ET Q q 0 0 0 rg BT 131.37 462.10 Td (are ) Tj ET Q q 0 0 0 rg BT 147.03 462.10 Td (included ) Tj ET Q q 0 0 0 rg BT 184.91 462.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 196.14 462.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 219.03 462.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.03 462.10 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 229.97 462.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 276.50 462.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 325.49 462.10 Td (Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.71 462.10 Td (, ) Tj ET Q q 0 0 0 rg BT 363.65 462.10 Td (to ) Tj ET Q q 0 0 0 rg BT 374.88 462.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.55 462.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 446.77 462.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 487.43 462.10 Td (Statements.��) Tj ET Q q 0 0 0 rg BT 538.63 462.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 85.35 450.10 Td (along ) Tj ET Q q 0 0 0 rg BT 109.81 450.10 Td (with ) Tj ET Q q 0 0 0 rg BT 129.83 450.10 Td (the ) Tj ET Q q 0 0 0 rg BT 144.29 450.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 189.85 450.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 241.54 450.10 Td (and ) Tj ET Q q 0 0 0 rg BT 258.23 450.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 302.13 450.10 Td (by ) Tj ET Q q 0 0 0 rg BT 314.38 450.10 Td (our ) Tj ET Q q 0 0 0 rg BT 329.95 450.10 Td (management ) Tj ET Q q 0 0 0 rg BT 383.28 450.10 Td (in ) Tj ET Q q 0 0 0 rg BT 393.30 450.10 Td (their ) Tj ET Q q 0 0 0 rg BT 413.87 450.10 Td (application, ) Tj ET Q q 0 0 0 rg BT 463.04 450.10 Td (have ) Tj ET Q q 0 0 0 rg BT 484.16 450.10 Td (a ) Tj ET Q q 0 0 0 rg BT 490.84 450.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 535.30 450.10 Td (impact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.97 438.10 Td (our ) Tj ET Q q 0 0 0 rg BT 79.76 438.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 133.77 438.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 172.22 438.10 Td (statements.��Following ) Tj ET Q q 0 0 0 rg BT 266.51 438.10 Td (is ) Tj ET Q q 0 0 0 rg BT 276.65 438.10 Td (a ) Tj ET Q q 0 0 0 rg BT 284.55 438.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 329.69 438.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.48 438.10 Td (our ) Tj ET Q q 0 0 0 rg BT 358.28 438.10 Td (most ) Tj ET Q q 0 0 0 rg BT 381.19 438.10 Td (critical ) Tj ET Q q 0 0 0 rg BT 412.42 438.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 459.76 438.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 502.93 438.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 548.06 438.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 103.09 426.10 Td (that ) Tj ET Q q 0 0 0 rg BT 120.58 426.10 Td (are ) Tj ET Q q 0 0 0 rg BT 135.29 426.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 170.55 426.10 Td (in ) Tj ET Q q 0 0 0 rg BT 180.83 426.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.55 426.10 Td (preparation ) Tj ET Q q 0 0 0 rg BT 243.58 426.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.41 426.10 Td (our ) Tj ET Q q 0 0 0 rg BT 270.24 426.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 307.72 426.10 Td (statements.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 402.10 Td (Full ) Tj ET Q q 0 0 0 rg BT 68.67 402.10 Td (Cost ) Tj ET Q q 0 0 0 rg BT 89.50 402.10 Td (Method ) Tj ET Q q 0 0 0 rg BT 122.55 402.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.65 402.10 Td (Accounting, ) Tj ET Q q 0 0 0 rg BT 183.19 402.10 Td (Depletion ) Tj ET Q q 0 0 0 rg BT 225.13 402.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.63 402.10 Td (Depr) Tj ET Q q 0 0 0 rg BT 262.81 402.10 Td (eciation ) Tj ET Q q 0 0 0 rg BT 297.52 402.10 Td (and ) Tj ET Q q 0 0 0 rg BT 315.02 402.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 330.30 402.10 Td (and ) Tj ET Q q 0 0 0 rg BT 347.80 402.10 Td (Natural ) Tj ET Q q 0 0 0 rg BT 381.41 402.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 400.03 402.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 409.66 402.10 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 378.10 Td (Businesses ) Tj ET Q q 0 0 0 rg BT 113.81 378.10 Td (involved ) Tj ET Q q 0 0 0 rg BT 151.21 378.10 Td (in ) Tj ET Q q 0 0 0 rg BT 161.41 378.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.04 378.10 Td (production ) Tj ET Q q 0 0 0 rg BT 221.77 378.10 Td (of ) Tj ET Q q 0 0 0 rg BT 232.52 378.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 245.49 378.10 Td (and ) Tj ET Q q 0 0 0 rg BT 262.34 378.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 292.52 378.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 308.26 378.10 Td (are ) Tj ET Q q 0 0 0 rg BT 322.88 378.10 Td (required ) Tj ET Q q 0 0 0 rg BT 358.61 378.10 Td (to ) Tj ET Q q 0 0 0 rg BT 368.80 378.10 Td (follow ) Tj ET Q q 0 0 0 rg BT 397.33 378.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 443.61 378.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 465.46 378.10 Td (that ) Tj ET Q q 0 0 0 rg BT 482.87 378.10 Td (are ) Tj ET Q q 0 0 0 rg BT 497.49 378.10 Td (unique ) Tj ET Q q 0 0 0 rg BT 527.12 378.10 Td (to ) Tj ET Q q 0 0 0 rg BT 537.31 378.10 Td (the ) Tj ET Q q 0 0 0 rg BT 551.94 378.10 Td (oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.33 366.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 82.06 366.10 Td (industry) Tj ET Q q 0 0 0 rg BT 114.19 366.10 Td (.��) Tj ET Q q 0 0 0 rg BT 121.51 366.10 Td (W) Tj ET Q q 0 0 0 rg BT 130.15 366.10 Td (e ) Tj ET Q q 0 0 0 rg BT 136.98 366.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 161.60 366.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.21 366.10 Td (full ) Tj ET Q q 0 0 0 rg BT 192.49 366.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 211.00 366.10 Td (method ) Tj ET Q q 0 0 0 rg BT 243.39 366.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.12 366.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 300.38 366.10 Td (for ) Tj ET Q q 0 0 0 rg BT 314.44 366.10 Td (our ) Tj ET Q q 0 0 0 rg BT 330.17 366.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 343.12 366.10 Td (and ) Tj ET Q q 0 0 0 rg BT 359.96 366.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 390.12 366.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 405.84 366.10 Td (properties.��) Tj ET Q q 0 0 0 rg BT 452.78 366.10 Td (Another ) Tj ET Q q 0 0 0 rg BT 487.94 366.10 Td (acceptable ) Tj ET Q q 0 0 0 rg BT 532.52 366.10 Td (method ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.27 354.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 106.58 354.10 Td (for ) Tj ET Q q 0 0 0 rg BT 120.68 354.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 133.67 354.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.55 354.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 180.75 354.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 196.52 354.10 Td (production ) Tj ET Q q 0 0 0 rg BT 242.29 354.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 280.83 354.10 Td (is ) Tj ET Q q 0 0 0 rg BT 289.93 354.10 Td (the ) Tj ET Q q 0 0 0 rg BT 304.59 354.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 348.13 354.10 Td (ef) Tj ET Q q 0 0 0 rg BT 355.72 354.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 376.48 354.10 Td (method ) Tj ET Q q 0 0 0 rg BT 408.92 354.10 Td (of ) Tj ET Q q 0 0 0 rg BT 419.69 354.10 Td (accounting.��In ) Tj ET Q q 0 0 0 rg BT 481.83 354.10 Td (general, ) Tj ET Q q 0 0 0 rg BT 516.19 354.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.85 354.10 Td (primary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.10 Td (dif) Tj ET Q q 0 0 0 rg BT 60.43 342.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 96.10 342.10 Td (between ) Tj ET Q q 0 0 0 rg BT 131.78 342.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.36 342.10 Td (two ) Tj ET Q q 0 0 0 rg BT 163.72 342.10 Td (methods ) Tj ET Q q 0 0 0 rg BT 199.97 342.10 Td (are ) Tj ET Q q 0 0 0 rg BT 214.54 342.10 Td (related ) Tj ET Q q 0 0 0 rg BT 244.10 342.10 Td (to ) Tj ET Q q 0 0 0 rg BT 254.25 342.10 Td (the ) Tj ET Q q 0 0 0 rg BT 268.83 342.10 Td (capitalization ) Tj ET Q q 0 0 0 rg BT 325.05 342.10 Td (of ) Tj ET Q q 0 0 0 rg BT 335.75 342.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 358.11 342.10 Td (and ) Tj ET Q q 0 0 0 rg BT 374.91 342.10 Td (the ) Tj ET Q q 0 0 0 rg BT 389.49 342.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 433.50 342.10 Td (for ) Tj ET Q q 0 0 0 rg BT 447.53 342.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 469.33 342.10 Td (impairment.��Under ) Tj ET Q q 0 0 0 rg BT 550.28 342.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.10 Td (full ) Tj ET Q q 0 0 0 rg BT 65.64 330.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 84.01 330.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 118.76 330.10 Td (all ) Tj ET Q q 0 0 0 rg BT 131.01 330.10 Td (geological ) Tj ET Q q 0 0 0 rg BT 174.92 330.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.61 330.10 Td (geophysical ) Tj ET Q q 0 0 0 rg BT 241.63 330.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 266.38 330.10 Td (exploratory ) Tj ET Q q 0 0 0 rg BT 314.73 330.10 Td (dry ) Tj ET Q q 0 0 0 rg BT 330.32 330.10 Td (holes ) Tj ET Q q 0 0 0 rg BT 353.68 330.10 Td (and ) Tj ET Q q 0 0 0 rg BT 370.38 330.10 Td (delay ) Tj ET Q q 0 0 0 rg BT 394.29 330.10 Td (rentals ) Tj ET Q q 0 0 0 rg BT 423.20 330.10 Td (are ) Tj ET Q q 0 0 0 rg BT 437.66 330.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 483.23 330.10 Td (to ) Tj ET Q q 0 0 0 rg BT 493.26 330.10 Td (the ) Tj ET Q q 0 0 0 rg BT 507.73 330.10 Td (full ) Tj ET Q q 0 0 0 rg BT 523.88 330.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 542.24 330.10 Td (pool, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.10 Td (whereas ) Tj ET Q q 0 0 0 rg BT 85.52 318.10 Td (under ) Tj ET Q q 0 0 0 rg BT 111.54 318.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.01 318.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 171.37 318.10 Td (ef) Tj ET Q q 0 0 0 rg BT 178.96 318.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 200.54 318.10 Td (method ) Tj ET Q q 0 0 0 rg BT 233.80 318.10 Td (such ) Tj ET Q q 0 0 0 rg BT 255.38 318.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 278.64 318.10 Td (are ) Tj ET Q q 0 0 0 rg BT 294.10 318.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 334.57 318.10 Td (as ) Tj ET Q q 0 0 0 rg BT 346.16 318.10 Td (incurred.��In ) Tj ET Q q 0 0 0 rg BT 398.56 318.10 Td (the ) Tj ET Q q 0 0 0 rg BT 414.03 318.10 Td (assessment ) Tj ET Q q 0 0 0 rg BT 461.73 318.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.31 318.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 522.67 318.10 Td (of ) Tj ET Q q 0 0 0 rg BT 534.26 318.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 548.07 318.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 79.54 306.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 95.15 306.10 Td (properties, ) Tj ET Q q 0 0 0 rg BT 139.91 306.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.41 306.10 Td (successful ) Tj ET Q q 0 0 0 rg BT 197.78 306.10 Td (ef) Tj ET Q q 0 0 0 rg BT 205.37 306.10 Td (forts ) Tj ET Q q 0 0 0 rg BT 225.98 306.10 Td (method ) Tj ET Q q 0 0 0 rg BT 258.25 306.10 Td (follows ) Tj ET Q q 0 0 0 rg BT 290.53 306.10 Td (the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 305.02 306.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 352.84 306.10 Td (for ) Tj ET Q q 0 0 0 rg BT 366.79 306.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.29 306.10 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 430.23 306.10 Td (or ) Tj ET Q q 0 0 0 rg BT 441.39 306.10 Td (Disposal ) Tj ET Q q 0 0 0 rg BT 479.23 306.10 Td (of ) Tj ET Q q 0 0 0 rg BT 489.29 306.10 Td (Long-Lived ) Tj ET Q q 0 0 0 rg BT 537.51 306.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.10 Td (topic ) Tj ET Q q 0 0 0 rg BT 71.41 294.10 Td (of ) Tj ET Q q 0 0 0 rg BT 81.66 294.10 Td (the ) Tj ET Q q 0 0 0 rg BT 95.79 294.10 Td (F) Tj ET Q q 0 0 0 rg BT 100.61 294.10 Td (ASC, ) Tj ET Q q 0 0 0 rg BT 124.48 294.10 Td (under ) Tj ET Q q 0 0 0 rg BT 149.17 294.10 Td (which ) Tj ET Q q 0 0 0 rg BT 175.52 294.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.65 294.10 Td (net ) Tj ET Q q 0 0 0 rg BT 203.79 294.10 Td (book ) Tj ET Q q 0 0 0 rg BT 225.70 294.10 Td (value ) Tj ET Q q 0 0 0 rg BT 249.28 294.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.52 294.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 284.77 294.10 Td (is ) Tj ET Q q 0 0 0 rg BT 293.35 294.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 333.59 294.10 Td (for ) Tj ET Q q 0 0 0 rg BT 347.16 294.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 395.18 294.10 Td (against ) Tj ET Q q 0 0 0 rg BT 425.42 294.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.55 294.10 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 494.80 294.10 Td (future ) Tj ET Q q 0 0 0 rg BT 520.59 294.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 540.27 294.10 Td (flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.10 Td (using ) Tj ET Q q 0 0 0 rg BT 73.45 282.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 121.27 282.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 147.42 282.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 189.70 282.10 Td (with ) Tj ET Q q 0 0 0 rg BT 209.75 282.10 Td (management ) Tj ET Q q 0 0 0 rg BT 263.11 282.10 Td (expectations.��Under ) Tj ET Q q 0 0 0 rg BT 347.86 282.10 Td (the ) Tj ET Q q 0 0 0 rg BT 362.35 282.10 Td (full ) Tj ET Q q 0 0 0 rg BT 378.51 282.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 396.90 282.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 431.67 282.10 Td (the ) Tj ET Q q 0 0 0 rg BT 446.16 282.10 Td (full ) Tj ET Q q 0 0 0 rg BT 462.32 282.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 480.71 282.10 Td (pool ) Tj ET Q q 0 0 0 rg BT 500.76 282.10 Td (\(net ) Tj ET Q q 0 0 0 rg BT 518.58 282.10 Td (book ) Tj ET Q q 0 0 0 rg BT 540.86 282.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.73 270.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 72.20 270.10 Td (and ) Tj ET Q q 0 0 0 rg BT 88.54 270.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 118.21 270.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 133.44 270.10 Td (properties\) ) Tj ET Q q 0 0 0 rg BT 178.66 270.10 Td (is ) Tj ET Q q 0 0 0 rg BT 187.23 270.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 227.45 270.10 Td (against ) Tj ET Q q 0 0 0 rg BT 257.68 270.10 Td (future ) Tj ET Q q 0 0 0 rg BT 283.46 270.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 303.14 270.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 327.26 270.10 Td (discounted ) Tj ET Q q 0 0 0 rg BT 372.49 270.10 Td (at ) Tj ET Q q 0 0 0 rg BT 381.61 270.10 Td (10% ) Tj ET Q q 0 0 0 rg BT 401.85 270.10 Td (using ) Tj ET Q q 0 0 0 rg BT 425.42 270.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.54 270.10 Td (average ) Tj ET Q q 0 0 0 rg BT 472.53 270.10 Td (first-day-of-the-month ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 62.27 258.10 Td (and ) Tj ET Q q 0 0 0 rg BT 78.91 258.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 108.89 258.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 124.43 258.10 Td (price ) Tj ET Q q 0 0 0 rg BT 146.62 258.10 Td (for ) Tj ET Q q 0 0 0 rg BT 160.49 258.10 Td (each ) Tj ET Q q 0 0 0 rg BT 181.02 258.10 Td (month ) Tj ET Q q 0 0 0 rg BT 208.78 258.10 Td (during ) Tj ET Q q 0 0 0 rg BT 237.10 258.10 Td (a ) Tj ET Q q 0 0 0 rg BT 243.75 258.10 Td (12-month ) Tj ET Q q 0 0 0 rg BT 284.84 258.10 Td (rolling ) Tj ET Q q 0 0 0 rg BT 313.72 258.10 Td (period ) Tj ET Q q 0 0 0 rg BT 341.48 258.10 Td (through ) Tj ET Q q 0 0 0 rg BT 374.79 258.10 Td (the ) Tj ET Q q 0 0 0 rg BT 389.22 258.10 Td (end ) Tj ET Q q 0 0 0 rg BT 405.87 258.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.41 258.10 Td (each ) Tj ET Q q 0 0 0 rg BT 436.93 258.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 475.23 258.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 514.10 258.10 Td (period.��) Tj ET Q q 0 0 0 rg BT 546.97 258.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 246.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.39 246.10 Td (results ) Tj ET Q q 0 0 0 rg BT 114.40 246.10 Td (for ) Tj ET Q q 0 0 0 rg BT 127.97 246.10 Td (a ) Tj ET Q q 0 0 0 rg BT 134.31 246.10 Td (given ) Tj ET Q q 0 0 0 rg BT 158.43 246.10 Td (period ) Tj ET Q q 0 0 0 rg BT 185.89 246.10 Td (could ) Tj ET Q q 0 0 0 rg BT 210.01 246.10 Td (be ) Tj ET Q q 0 0 0 rg BT 221.35 246.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 273.81 246.10 Td (dif) Tj ET Q q 0 0 0 rg BT 284.74 246.10 Td (ferent ) Tj ET Q q 0 0 0 rg BT 309.96 246.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 353.52 246.10 Td (on ) Tj ET Q q 0 0 0 rg BT 365.43 246.10 Td (the ) Tj ET Q q 0 0 0 rg BT 379.55 246.10 Td (method ) Tj ET Q q 0 0 0 rg BT 411.45 246.10 Td (of ) Tj ET Q q 0 0 0 rg BT 421.69 246.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 467.46 246.10 Td (that ) Tj ET Q q 0 0 0 rg BT 484.36 246.10 Td (an ) Tj ET Q q 0 0 0 rg BT 495.71 246.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 508.17 246.10 Td (and ) Tj ET Q q 0 0 0 rg BT 524.51 246.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 539.75 246.10 Td (entity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 234.10 Td (applies.��Further) Tj ET Q q 0 0 0 rg BT 114.36 234.10 Td (, ) Tj ET Q q 0 0 0 rg BT 119.20 234.10 Td (we ) Tj ET Q q 0 0 0 rg BT 133.19 234.10 Td (do ) Tj ET Q q 0 0 0 rg BT 145.52 234.10 Td (not ) Tj ET Q q 0 0 0 rg BT 160.63 234.10 Td (designate ) Tj ET Q q 0 0 0 rg BT 200.73 234.10 Td (our ) Tj ET Q q 0 0 0 rg BT 216.39 234.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 229.28 234.10 Td (and ) Tj ET Q q 0 0 0 rg BT 246.05 234.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 276.15 234.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 291.81 234.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 334.13 234.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 372.55 234.10 Td (as ) Tj ET Q q 0 0 0 rg BT 383.22 234.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 417.77 234.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 466.77 234.10 Td (for ) Tj ET Q q 0 0 0 rg BT 480.76 234.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 526.96 234.10 Td (purposes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 222.10 Td (under ) Tj ET Q q 0 0 0 rg BT 75.02 222.10 Td (the ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 89.99 222.10 Td (Derivatives ) Tj ET Q q 0 0 0 rg BT 138.84 222.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.59 222.10 Td (Hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 191.03 222.10 Td ( ) Tj ET Q q 0 0 0 rg BT 193.78 222.10 Td (topic ) Tj ET Q q 0 0 0 rg BT 216.53 222.10 Td (of ) Tj ET Q q 0 0 0 rg BT 227.61 222.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.58 222.10 Td (F) Tj ET Q q 0 0 0 rg BT 247.40 222.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 269.61 222.10 Td (\(see ) Tj ET Q q 0 0 0 rg BT 288.46 222.10 Td (below\), ) Tj ET Q q 0 0 0 rg BT 321.48 222.10 Td (and ) Tj ET Q q 0 0 0 rg BT 338.67 222.10 Td (as ) Tj ET Q q 0 0 0 rg BT 349.76 222.10 Td (a ) Tj ET Q q 0 0 0 rg BT 356.95 222.10 Td (result, ) Tj ET Q q 0 0 0 rg BT 384.42 222.10 Td (these ) Tj ET Q q 0 0 0 rg BT 407.72 222.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 446.56 222.10 Td (are ) Tj ET Q q 0 0 0 rg BT 461.52 222.10 Td (not ) Tj ET Q q 0 0 0 rg BT 477.05 222.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 523.12 222.10 Td (in ) Tj ET Q q 0 0 0 rg BT 533.65 222.10 Td (the ) Tj ET Q q 0 0 0 rg BT 548.62 222.10 Td (full ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 68.11 210.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 97.82 210.10 Td (test.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 186.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 186.10 Td (e ) Tj ET Q q 0 0 0 rg BT 84.02 186.10 Td (make ) Tj ET Q q 0 0 0 rg BT 109.12 186.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 154.78 186.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 195.43 186.10 Td (at ) Tj ET Q q 0 0 0 rg BT 206.10 186.10 Td (the ) Tj ET Q q 0 0 0 rg BT 221.76 186.10 Td (end ) Tj ET Q q 0 0 0 rg BT 239.64 186.10 Td (of ) Tj ET Q q 0 0 0 rg BT 251.42 186.10 Td (each ) Tj ET Q q 0 0 0 rg BT 273.18 186.10 Td (period ) Tj ET Q q 0 0 0 rg BT 302.17 186.10 Td (related ) Tj ET Q q 0 0 0 rg BT 332.81 186.10 Td (to ) Tj ET Q q 0 0 0 rg BT 344.04 186.10 Td (accruals ) Tj ET Q q 0 0 0 rg BT 380.24 186.10 Td (for ) Tj ET Q q 0 0 0 rg BT 395.34 186.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 409.34 186.10 Td (and ) Tj ET Q q 0 0 0 rg BT 427.23 186.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 458.44 186.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 475.21 186.10 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 516.69 186.10 Td (production, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 95.13 174.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 117.46 174.10 Td (and ) Tj ET Q q 0 0 0 rg BT 134.22 174.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 174.31 174.10 Td (expenses.��) Tj ET Q q 0 0 0 rg BT 217.73 174.10 Td (W) Tj ET Q q 0 0 0 rg BT 226.37 174.10 Td (e ) Tj ET Q q 0 0 0 rg BT 233.14 174.10 Td (calculate ) Tj ET Q q 0 0 0 rg BT 270.99 174.10 Td (these ) Tj ET Q q 0 0 0 rg BT 293.86 174.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 333.40 174.10 Td (with ) Tj ET Q q 0 0 0 rg BT 353.51 174.10 Td (our ) Tj ET Q q 0 0 0 rg BT 369.16 174.10 Td (best ) Tj ET Q q 0 0 0 rg BT 387.60 174.10 Td (available ) Tj ET Q q 0 0 0 rg BT 426.01 174.10 Td (data, ) Tj ET Q q 0 0 0 rg BT 447.50 174.10 Td (which ) Tj ET Q q 0 0 0 rg BT 474.26 174.10 Td (includes, ) Tj ET Q q 0 0 0 rg BT 512.41 174.10 Td (among ) Tj ET Q q 0 0 0 rg BT 541.96 174.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 78.59 162.10 Td (production ) Tj ET Q q 0 0 0 rg BT 124.05 162.10 Td (reports, ) Tj ET Q q 0 0 0 rg BT 156.46 162.10 Td (price ) Tj ET Q q 0 0 0 rg BT 178.59 162.10 Td (posting, ) Tj ET Q q 0 0 0 rg BT 212.68 162.10 Td (information ) Tj ET Q q 0 0 0 rg BT 262.03 162.10 Td (compiled ) Tj ET Q q 0 0 0 rg BT 301.38 162.10 Td (from ) Tj ET Q q 0 0 0 rg BT 322.96 162.10 Td (daily ) Tj ET Q q 0 0 0 rg BT 345.09 162.10 Td (drilling ) Tj ET Q q 0 0 0 rg BT 376.68 162.10 Td (reports ) Tj ET Q q 0 0 0 rg BT 406.59 162.10 Td (and ) Tj ET Q q 0 0 0 rg BT 423.17 162.10 Td (other ) Tj ET Q q 0 0 0 rg BT 445.85 162.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 478.53 162.10 Td (tracking ) Tj ET Q q 0 0 0 rg BT 513.44 162.10 Td (devices, ) Tj ET Q q 0 0 0 rg BT 548.06 162.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 83.65 150.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.91 150.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 133.05 150.10 Td (results ) Tj ET Q q 0 0 0 rg BT 161.09 150.10 Td (and ) Tj ET Q q 0 0 0 rg BT 177.46 150.10 Td (trends.��) Tj ET Q q 0 0 0 rg BT 209.21 150.10 Td (While ) Tj ET Q q 0 0 0 rg BT 235.58 150.10 Td (management ) Tj ET Q q 0 0 0 rg BT 288.60 150.10 Td (is ) Tj ET Q q 0 0 0 rg BT 297.20 150.10 Td (not ) Tj ET Q q 0 0 0 rg BT 311.91 150.10 Td (aware ) Tj ET Q q 0 0 0 rg BT 337.70 150.10 Td (of ) Tj ET Q q 0 0 0 rg BT 347.96 150.10 Td (any ) Tj ET Q q 0 0 0 rg BT 364.33 150.10 Td (required ) Tj ET Q q 0 0 0 rg BT 399.58 150.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 437.62 150.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.32 150.10 Td (its ) Tj ET Q q 0 0 0 rg BT 458.70 150.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 500.35 150.10 Td (there ) Tj ET Q q 0 0 0 rg BT 522.26 150.10 Td (will ) Tj ET Q q 0 0 0 rg BT 539.75 150.10 Td (likely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.10 Td (be ) Tj ET Q q 0 0 0 rg BT 62.27 138.10 Td (future ) Tj ET Q q 0 0 0 rg BT 89.49 138.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 140.60 138.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 178.93 138.10 Td (from ) Tj ET Q q 0 0 0 rg BT 201.70 138.10 Td (such ) Tj ET Q q 0 0 0 rg BT 223.37 138.10 Td (things ) Tj ET Q q 0 0 0 rg BT 251.16 138.10 Td (as ) Tj ET Q q 0 0 0 rg BT 262.82 138.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 302.27 138.10 Td (in ) Tj ET Q q 0 0 0 rg BT 313.38 138.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 355.04 138.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 368.93 138.10 Td (and ) Tj ET Q q 0 0 0 rg BT 386.71 138.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 417.81 138.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 434.47 138.10 Td (volumes, ) Tj ET Q q 0 0 0 rg BT 474.20 138.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 509.74 138.10 Td (in ) Tj ET Q q 0 0 0 rg BT 520.85 138.10 Td (ownership ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 126.10 Td (interests, ) Tj ET Q q 0 0 0 rg BT 87.33 126.10 Td (payouts, ) Tj ET Q q 0 0 0 rg BT 122.94 126.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 143.27 126.10 Td (venture ) Tj ET Q q 0 0 0 rg BT 175.26 126.10 Td (audits, ) Tj ET Q q 0 0 0 rg BT 203.65 126.10 Td (re-allocations ) Tj ET Q q 0 0 0 rg BT 260.07 126.10 Td (by ) Tj ET Q q 0 0 0 rg BT 272.07 126.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.29 126.10 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 331.05 126.10 Td (or ) Tj ET Q q 0 0 0 rg BT 341.38 126.10 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 381.99 126.10 Td (or ) Tj ET Q q 0 0 0 rg BT 392.32 126.10 Td (other ) Tj ET Q q 0 0 0 rg BT 414.87 126.10 Td (corrections ) Tj ET Q q 0 0 0 rg BT 461.30 126.10 Td (and ) Tj ET Q q 0 0 0 rg BT 477.74 126.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 527.51 126.10 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 114.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.25 114.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.43 114.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 88.96 114.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.36 114.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 122.66 114.10 Td (industry) Tj ET Q q 0 0 0 rg BT 154.79 114.10 Td (, ) Tj ET Q q 0 0 0 rg BT 160.26 114.10 Td (many ) Tj ET Q q 0 0 0 rg BT 185.44 114.10 Td (of ) Tj ET Q q 0 0 0 rg BT 196.74 114.10 Td (which ) Tj ET Q q 0 0 0 rg BT 224.14 114.10 Td (will ) Tj ET Q q 0 0 0 rg BT 242.67 114.10 Td (require ) Tj ET Q q 0 0 0 rg BT 273.95 114.10 Td (retroactive ) Tj ET Q q 0 0 0 rg BT 319.67 114.10 Td (application.��) Tj ET Q q 0 0 0 rg BT 371.42 114.10 Td (These ) Tj ET Q q 0 0 0 rg BT 398.26 114.10 Td (types ) Tj ET Q q 0 0 0 rg BT 422.34 114.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.64 114.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 484.38 114.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 514.00 114.10 Td (be ) Tj ET Q q 0 0 0 rg BT 526.41 114.10 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 102.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 90.32 102.10 Td (or ) Tj ET Q q 0 0 0 rg BT 101.15 102.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 148.63 102.10 Td (and ) Tj ET Q q 0 0 0 rg BT 165.57 102.10 Td (will ) Tj ET Q q 0 0 0 rg BT 183.63 102.10 Td (be ) Tj ET Q q 0 0 0 rg BT 195.56 102.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 233.04 102.10 Td (in ) Tj ET Q q 0 0 0 rg BT 243.32 102.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.04 102.10 Td (period ) Tj ET Q q 0 0 0 rg BT 286.08 102.10 Td (during ) Tj ET Q q 0 0 0 rg BT 314.69 102.10 Td (which ) Tj ET Q q 0 0 0 rg BT 341.63 102.10 Td (the ) Tj ET Q q 0 0 0 rg BT 356.35 102.10 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 402.73 102.10 Td (occurs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 78.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 94.85 78.10 Td (full ) Tj ET Q q 0 0 0 rg BT 111.10 78.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 129.57 78.10 Td (accounting, ) Tj ET Q q 0 0 0 rg BT 178.31 78.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.89 78.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 233.57 78.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 274.81 78.10 Td (of ) Tj ET Q q 0 0 0 rg BT 285.50 78.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 315.64 78.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 328.55 78.10 Td (and ) Tj ET Q q 0 0 0 rg BT 345.36 78.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 375.48 78.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 391.17 78.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 426.29 78.10 Td (used ) Tj ET Q q 0 0 0 rg BT 446.99 78.10 Td (to ) Tj ET Q q 0 0 0 rg BT 457.13 78.10 Td (compute ) Tj ET Q q 0 0 0 rg BT 493.92 78.10 Td (depletion ) Tj ET Q q 0 0 0 rg BT 533.50 78.10 Td (and ) Tj ET Q q 0 0 0 rg BT 550.30 78.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 66.10 Td (related ) Tj ET Q q 0 0 0 rg BT 78.55 66.10 Td (present ) Tj ET Q q 0 0 0 rg BT 109.27 66.10 Td (value ) Tj ET Q q 0 0 0 rg BT 132.77 66.10 Td (of ) Tj ET Q q 0 0 0 rg BT 142.95 66.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 183.11 66.10 Td (future ) Tj ET Q q 0 0 0 rg BT 208.84 66.10 Td (net ) Tj ET Q q 0 0 0 rg BT 222.90 66.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 242.51 66.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 266.58 66.10 Td (therefrom ) Tj ET Q q 0 0 0 rg BT 307.85 66.10 Td (used ) Tj ET Q q 0 0 0 rg BT 328.03 66.10 Td (to ) Tj ET Q q 0 0 0 rg BT 337.65 66.10 Td (perform ) Tj ET Q q 0 0 0 rg BT 371.70 66.10 Td (the ) Tj ET Q q 0 0 0 rg BT 385.76 66.10 Td (full ) Tj ET Q q 0 0 0 rg BT 401.50 66.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 419.45 66.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 448.51 66.10 Td (test ) Tj ET Q q 0 0 0 rg BT 464.24 66.10 Td (have ) Tj ET Q q 0 0 0 rg BT 484.96 66.10 Td (a ) Tj ET Q q 0 0 0 rg BT 491.25 66.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 535.31 66.10 Td (impact ) Tj ET Q endstream endobj 119 0 obj <> endobj 120 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (59) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 61.17 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.05 713.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 120.04 713.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 156.69 713.10 Td (statements.��) Tj ET Q q 0 0 0 rg BT 206.22 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 223.44 713.10 Td (process ) Tj ET Q q 0 0 0 rg BT 255.10 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 265.09 713.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 308.42 713.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 320.65 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 336.75 713.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 366.18 713.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 381.18 713.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 415.61 713.10 Td (is ) Tj ET Q q 0 0 0 rg BT 423.94 713.10 Td (very ) Tj ET Q q 0 0 0 rg BT 443.38 713.10 Td (complex, ) Tj ET Q q 0 0 0 rg BT 481.98 713.10 Td (requiring ) Tj ET Q q 0 0 0 rg BT 520.30 713.10 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (decisions ) Tj ET Q q 0 0 0 rg BT 89.77 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 100.61 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.89 701.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 160.59 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 171.98 701.10 Td (all ) Tj ET Q q 0 0 0 rg BT 185.04 701.10 Td (available ) Tj ET Q q 0 0 0 rg BT 224.18 701.10 Td (geological, ) Tj ET Q q 0 0 0 rg BT 271.39 701.10 Td (geophysical, ) Tj ET Q q 0 0 0 rg BT 324.71 701.10 Td (engineering ) Tj ET Q q 0 0 0 rg BT 374.97 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 392.47 701.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 434.40 701.10 Td (data.��) Tj ET Q q 0 0 0 rg BT 458.38 701.10 Td (The ) Tj ET Q q 0 0 0 rg BT 476.98 701.10 Td (data ) Tj ET Q q 0 0 0 rg BT 496.69 701.10 Td (for ) Tj ET Q q 0 0 0 rg BT 511.41 701.10 Td (a ) Tj ET Q q 0 0 0 rg BT 518.91 701.10 Td (given ) Tj ET Q q 0 0 0 rg BT 544.18 701.10 Td (field ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (may ) Tj ET Q q 0 0 0 rg BT 70.25 689.10 Td (also ) Tj ET Q q 0 0 0 rg BT 89.90 689.10 Td (change ) Tj ET Q q 0 0 0 rg BT 121.75 689.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 175.83 689.10 Td (over ) Tj ET Q q 0 0 0 rg BT 197.14 689.10 Td (time ) Tj ET Q q 0 0 0 rg BT 218.45 689.10 Td (as ) Tj ET Q q 0 0 0 rg BT 230.31 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 238.28 689.10 Td (result ) Tj ET Q q 0 0 0 rg BT 264.04 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.90 689.10 Td (numerous ) Tj ET Q q 0 0 0 rg BT 318.88 689.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 352.12 689.10 Td (including ) Tj ET Q q 0 0 0 rg BT 393.43 689.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 436.95 689.10 Td (development ) Tj ET Q q 0 0 0 rg BT 492.14 689.10 Td (activity) Tj ET Q q 0 0 0 rg BT 521.48 689.10 Td (, ) Tj ET Q q 0 0 0 rg BT 527.51 689.10 Td (evolving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (production ) Tj ET Q q 0 0 0 rg BT 96.11 677.10 Td (history ) Tj ET Q q 0 0 0 rg BT 127.17 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 144.89 677.10 Td (continued ) Tj ET Q q 0 0 0 rg BT 187.60 677.10 Td (reassessment ) Tj ET Q q 0 0 0 rg BT 243.09 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.70 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 270.20 677.10 Td (viability ) Tj ET Q q 0 0 0 rg BT 306.81 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 318.42 677.10 Td (production ) Tj ET Q q 0 0 0 rg BT 365.03 677.10 Td (under ) Tj ET Q q 0 0 0 rg BT 391.08 677.10 Td (varying ) Tj ET Q q 0 0 0 rg BT 424.91 677.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 467.06 677.10 Td (conditions.��) Tj ET Q q 0 0 0 rg BT 515.67 677.10 Td (As ) Tj ET Q q 0 0 0 rg BT 530.07 677.10 Td (a ) Tj ET Q q 0 0 0 rg BT 537.79 677.10 Td (result, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (material ) Tj ET Q q 0 0 0 rg BT 84.62 665.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 123.09 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 133.23 665.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 167.26 665.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 198.49 665.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 238.06 665.10 Td (may ) Tj ET Q q 0 0 0 rg BT 257.64 665.10 Td (occur ) Tj ET Q q 0 0 0 rg BT 282.21 665.10 Td (from ) Tj ET Q q 0 0 0 rg BT 304.01 665.10 Td (time ) Tj ET Q q 0 0 0 rg BT 324.15 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 334.29 665.10 Td (time.��) Tj ET Q q 0 0 0 rg BT 359.01 665.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 399.15 665.10 Td (every ) Tj ET Q q 0 0 0 rg BT 423.72 665.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 468.84 665.10 Td (ef) Tj ET Q q 0 0 0 rg BT 476.42 665.10 Td (fort ) Tj ET Q q 0 0 0 rg BT 493.23 665.10 Td (is ) Tj ET Q q 0 0 0 rg BT 502.26 665.10 Td (made ) Tj ET Q q 0 0 0 rg BT 526.28 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 536.42 665.10 Td (ensure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.15 653.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 99.91 653.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 131.21 653.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 170.86 653.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 209.95 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 224.60 653.10 Td (most ) Tj ET Q q 0 0 0 rg BT 246.49 653.10 Td (accurate ) Tj ET Q q 0 0 0 rg BT 282.23 653.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 332.99 653.10 Td (possible, ) Tj ET Q q 0 0 0 rg BT 370.71 653.10 Td (including ) Tj ET Q q 0 0 0 rg BT 410.92 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 425.58 653.10 Td (hiring ) Tj ET Q q 0 0 0 rg BT 451.90 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.67 653.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 513.98 653.10 Td (engineers ) Tj ET Q q 0 0 0 rg BT 554.73 653.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (prepare ) Tj ET Q q 0 0 0 rg BT 81.09 641.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 116.01 641.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 157.33 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 171.16 641.10 Td (subjective ) Tj ET Q q 0 0 0 rg BT 213.31 641.10 Td (decisions ) Tj ET Q q 0 0 0 rg BT 252.14 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 268.19 641.10 Td (variances ) Tj ET Q q 0 0 0 rg BT 307.55 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 316.94 641.10 Td (available ) Tj ET Q q 0 0 0 rg BT 354.64 641.10 Td (data ) Tj ET Q q 0 0 0 rg BT 372.91 641.10 Td (for ) Tj ET Q q 0 0 0 rg BT 386.18 641.10 Td (various ) Tj ET Q q 0 0 0 rg BT 417.23 641.10 Td (fields ) Tj ET Q q 0 0 0 rg BT 441.05 641.10 Td (make ) Tj ET Q q 0 0 0 rg BT 464.32 641.10 Td (these ) Tj ET Q q 0 0 0 rg BT 486.48 641.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 525.30 641.10 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (less ) Tj ET Q q 0 0 0 rg BT 66.93 629.10 Td (precise ) Tj ET Q q 0 0 0 rg BT 97.67 629.10 Td (than ) Tj ET Q q 0 0 0 rg BT 117.32 629.10 Td (other ) Tj ET Q q 0 0 0 rg BT 140.29 629.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 179.93 629.10 Td (included ) Tj ET Q q 0 0 0 rg BT 216.79 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 227.00 629.10 Td (our ) Tj ET Q q 0 0 0 rg BT 242.76 629.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 280.17 629.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 320.92 629.10 Td (disclosures.��Over ) Tj ET Q q 0 0 0 rg BT 395.27 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 409.92 629.10 Td (last ) Tj ET Q q 0 0 0 rg BT 426.23 629.10 Td (four ) Tj ET Q q 0 0 0 rg BT 445.32 629.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 471.35 629.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 500.43 629.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 538.97 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.17 629.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 81.71 617.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 124.76 617.10 Td (excluding ) Tj ET Q q 0 0 0 rg BT 167.54 617.10 Td (any ) Tj ET Q q 0 0 0 rg BT 185.32 617.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 224.77 617.10 Td (related ) Tj ET Q q 0 0 0 rg BT 255.31 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 266.43 617.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 301.98 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 313.10 617.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 361.99 617.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 391.71 617.10 Td (have ) Tj ET Q q 0 0 0 rg BT 413.93 617.10 Td (averaged ) Tj ET Q q 0 0 0 rg BT 453.35 617.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 514.45 617.10 Td (1.7% ) Tj ET Q q 0 0 0 rg BT 538.62 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 617.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (previous ) Tj ET Q q 0 0 0 rg BT 86.44 605.10 Td (year) Tj ET Q q 0 0 0 rg BT 104.02 605.10 Td (�) Tj ET Q q 0 0 0 rg BT 106.79 605.10 Td (s ) Tj ET Q q 0 0 0 rg BT 113.19 605.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 152.90 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 169.84 605.10 Td (have ) Tj ET Q q 0 0 0 rg BT 191.21 605.10 Td (been ) Tj ET Q q 0 0 0 rg BT 212.59 605.10 Td (both ) Tj ET Q q 0 0 0 rg BT 232.87 605.10 Td (positive ) Tj ET Q q 0 0 0 rg BT 267.03 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 283.97 605.10 Td (negative.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 581.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 104.56 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 114.96 581.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 163.14 581.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 189.64 581.10 Td (also ) Tj ET Q q 0 0 0 rg BT 208.37 581.10 Td (af) Tj ET Q q 0 0 0 rg BT 215.96 581.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 233.57 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 249.52 581.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 281.01 581.10 Td (quantities.��) Tj ET Q q 0 0 0 rg BT 327.21 581.10 Td (These ) Tj ET Q q 0 0 0 rg BT 353.71 581.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 388.54 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 398.95 581.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 440.45 581.10 Td (af) Tj ET Q q 0 0 0 rg BT 448.04 581.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 465.65 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 481.60 581.10 Td (DD&A) Tj ET Q q 0 0 0 rg BT 510.49 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 513.12 581.10 Td (rate, ) Tj ET Q q 0 0 0 rg BT 533.23 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 550.29 581.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 91.94 569.10 Td (ef) Tj ET Q q 0 0 0 rg BT 99.53 569.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 117.52 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 128.86 569.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 164.07 569.10 Td (in ) Tj ET Q q 0 0 0 rg BT 174.86 569.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 216.75 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 234.19 569.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 282.75 569.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 309.63 569.10 Td (impacts ) Tj ET Q q 0 0 0 rg BT 343.74 569.10 Td (our ) Tj ET Q q 0 0 0 rg BT 360.08 569.10 Td (full ) Tj ET Q q 0 0 0 rg BT 376.97 569.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 396.09 569.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 426.31 569.10 Td (test ) Tj ET Q q 0 0 0 rg BT 443.20 569.10 Td (calculation.��For ) Tj ET Q q 0 0 0 rg BT 511.47 569.10 Td (example, ) Tj ET Q q 0 0 0 rg BT 550.85 569.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 84.77 557.10 Td (that ) Tj ET Q q 0 0 0 rg BT 101.72 557.10 Td (a ) Tj ET Q q 0 0 0 rg BT 108.11 557.10 Td (5% ) Tj ET Q q 0 0 0 rg BT 123.39 557.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 158.09 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 167.82 557.10 Td (our ) Tj ET Q q 0 0 0 rg BT 183.10 557.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 218.37 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 228.65 557.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 258.37 557.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 289.19 557.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 330.02 557.10 Td (would ) Tj ET Q q 0 0 0 rg BT 356.97 557.10 Td (have ) Tj ET Q q 0 0 0 rg BT 377.80 557.10 Td (lowered ) Tj ET Q q 0 0 0 rg BT 411.96 557.10 Td (our ) Tj ET Q q 0 0 0 rg BT 427.24 557.10 Td (fourth ) Tj ET Q q 0 0 0 rg BT 453.63 557.10 Td (quarter ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.89 557.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 503.89 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 505.85 557.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 518.35 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 534.74 557.10 Td (natural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 64.77 545.10 Td (property ) Tj ET Q q 0 0 0 rg BT 100.58 545.10 Td (DD&A) Tj ET Q q 0 0 0 rg BT 129.47 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.41 545.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 148.33 545.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.70 545.10 Td ($6.66) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.20 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.14 545.10 Td (per ) Tj ET Q q 0 0 0 rg BT 208.84 545.10 Td (BOE ) Tj ET Q q 0 0 0 rg BT 230.78 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 240.49 545.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 300.19 545.10 Td ($6.38 ) Tj ET Q q 0 0 0 rg BT 324.62 545.10 Td (per ) Tj ET Q q 0 0 0 rg BT 339.33 545.10 Td (BOE, ) Tj ET Q q 0 0 0 rg BT 363.77 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 380.14 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 386.51 545.10 Td (5% ) Tj ET Q q 0 0 0 rg BT 401.78 545.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 438.13 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 447.84 545.10 Td (our ) Tj ET Q q 0 0 0 rg BT 463.11 545.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 492.82 545.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 523.62 545.10 Td (quantities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (would ) Tj ET Q q 0 0 0 rg BT 78.48 533.10 Td (have ) Tj ET Q q 0 0 0 rg BT 101.34 533.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 143.07 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 160.38 533.10 Td (DD&A) Tj ET Q q 0 0 0 rg BT 189.27 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 193.25 533.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 212.22 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 223.98 533.10 Td (approximately ) Tj ET Q q 0 0 0 rg BT 285.72 533.10 Td ($6.97 ) Tj ET Q q 0 0 0 rg BT 312.20 533.10 Td (per ) Tj ET Q q 0 0 0 rg BT 328.95 533.10 Td (BOE.��) Tj ET Q q 0 0 0 rg BT 355.90 533.10 Td (Also, ) Tj ET Q q 0 0 0 rg BT 381.27 533.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 414.12 533.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 456.98 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 475.40 533.10 Td (their ) Tj ET Q q 0 0 0 rg BT 497.70 533.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 534.45 533.10 Td (values, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 97.08 521.10 Td (solely ) Tj ET Q q 0 0 0 rg BT 123.57 521.10 Td (by ) Tj ET Q q 0 0 0 rg BT 136.16 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 152.09 521.10 Td (lenders, ) Tj ET Q q 0 0 0 rg BT 186.07 521.10 Td (are ) Tj ET Q q 0 0 0 rg BT 200.88 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 215.69 521.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 249.95 521.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 279.75 521.10 Td (in ) Tj ET Q q 0 0 0 rg BT 290.13 521.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 341.05 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.87 521.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 399.02 521.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 443.28 521.10 Td (base ) Tj ET Q q 0 0 0 rg BT 463.64 521.10 Td (under ) Tj ET Q q 0 0 0 rg BT 489.01 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 504.94 521.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 531.98 521.10 Td (secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 71.44 509.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 96.70 509.10 Td (facility) Tj ET Q q 0 0 0 rg BT 124.37 509.10 Td (, ) Tj ET Q q 0 0 0 rg BT 129.37 509.10 Td (particularly ) Tj ET Q q 0 0 0 rg BT 177.96 509.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 219.34 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 236.28 509.10 Td (values ) Tj ET Q q 0 0 0 rg BT 264.33 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.16 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 290.99 509.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 321.26 509.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 364.85 509.10 Td (producing ) Tj ET Q q 0 0 0 rg BT 407.90 509.10 Td (reserves.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 485.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 94.86 485.10 Td (full ) Tj ET Q q 0 0 0 rg BT 111.11 485.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 129.59 485.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 175.83 485.10 Td (rules, ) Tj ET Q q 0 0 0 rg BT 200.14 485.10 Td (we ) Tj ET Q q 0 0 0 rg BT 214.17 485.10 Td (are ) Tj ET Q q 0 0 0 rg BT 228.74 485.10 Td (required ) Tj ET Q q 0 0 0 rg BT 264.42 485.10 Td (each ) Tj ET Q q 0 0 0 rg BT 285.11 485.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 315.79 485.10 Td (to ) Tj ET Q q 0 0 0 rg BT 325.94 485.10 Td (perform ) Tj ET Q q 0 0 0 rg BT 360.51 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 367.32 485.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 396.90 485.10 Td (test ) Tj ET Q q 0 0 0 rg BT 413.15 485.10 Td (calculation.��) Tj ET Q q 0 0 0 rg BT 464.34 485.10 Td (The ) Tj ET Q q 0 0 0 rg BT 482.26 485.10 Td (net ) Tj ET Q q 0 0 0 rg BT 496.84 485.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 542.51 485.10 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.34 473.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 73.42 473.10 Td (and ) Tj ET Q q 0 0 0 rg BT 90.37 473.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 120.65 473.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 136.49 473.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 178.99 473.10 Td (are ) Tj ET Q q 0 0 0 rg BT 193.71 473.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 224.56 473.10 Td (to ) Tj ET Q q 0 0 0 rg BT 234.85 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.58 473.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 274.87 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 285.71 473.10 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 338.21 473.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 356.83 473.10 Td (or ) Tj ET Q q 0 0 0 rg BT 367.67 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 382.41 473.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 401.03 473.10 Td (center ) Tj ET Q q 0 0 0 rg BT 427.97 473.10 Td (ceiling.��) Tj ET Q q 0 0 0 rg BT 462.50 473.10 Td (The ) Tj ET Q q 0 0 0 rg BT 480.56 473.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 499.18 473.10 Td (center ) Tj ET Q q 0 0 0 rg BT 526.12 473.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 555.85 473.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 81.12 461.10 Td (as ) Tj ET Q q 0 0 0 rg BT 91.08 461.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 104.38 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.23 461.10 Td (present ) Tj ET Q q 0 0 0 rg BT 148.74 461.10 Td (value ) Tj ET Q q 0 0 0 rg BT 172.02 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 181.99 461.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 221.94 461.10 Td (future ) Tj ET Q q 0 0 0 rg BT 247.45 461.10 Td (net ) Tj ET Q q 0 0 0 rg BT 261.30 461.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 298.47 461.10 Td (from ) Tj ET Q q 0 0 0 rg BT 319.54 461.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 348.95 461.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 361.14 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 377.21 461.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 406.60 461.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 421.57 461.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 455.96 461.10 Td (before ) Tj ET Q q 0 0 0 rg BT 483.13 461.10 Td (future ) Tj ET Q q 0 0 0 rg BT 508.64 461.10 Td (abandonment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 71.49 449.10 Td (\(discounted ) Tj ET Q q 0 0 0 rg BT 120.14 449.10 Td (at ) Tj ET Q q 0 0 0 rg BT 129.36 449.10 Td (10%\), ) Tj ET Q q 0 0 0 rg BT 155.51 449.10 Td (based ) Tj ET Q q 0 0 0 rg BT 180.27 449.10 Td (on ) Tj ET Q q 0 0 0 rg BT 192.27 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 206.48 449.10 Td (average ) Tj ET Q q 0 0 0 rg BT 239.56 449.10 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 331.52 449.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 344.08 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 360.51 449.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 390.27 449.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 405.59 449.10 Td (price ) Tj ET Q q 0 0 0 rg BT 427.57 449.10 Td (for ) Tj ET Q q 0 0 0 rg BT 441.23 449.10 Td (each ) Tj ET Q q 0 0 0 rg BT 461.54 449.10 Td (month ) Tj ET Q q 0 0 0 rg BT 489.09 449.10 Td (during ) Tj ET Q q 0 0 0 rg BT 517.19 449.10 Td (a ) Tj ET Q q 0 0 0 rg BT 523.62 449.10 Td (12-month ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (rolling ) Tj ET Q q 0 0 0 rg BT 78.11 437.10 Td (period ) Tj ET Q q 0 0 0 rg BT 105.61 437.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 127.00 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 136.72 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.89 437.10 Td (end ) Tj ET Q q 0 0 0 rg BT 167.27 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 177.55 437.10 Td (a ) Tj ET Q q 0 0 0 rg BT 183.94 437.10 Td (particular ) Tj ET Q q 0 0 0 rg BT 224.20 437.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 262.80 437.10 Td (period; ) Tj ET Q q 0 0 0 rg BT 293.07 437.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 311.69 437.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 325.30 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.47 437.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 357.52 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 367.80 437.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 409.73 437.10 Td (not ) Tj ET Q q 0 0 0 rg BT 424.46 437.10 Td (being ) Tj ET Q q 0 0 0 rg BT 448.63 437.10 Td (amortized; ) Tj ET Q q 0 0 0 rg BT 493.33 437.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 511.95 437.10 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 525.56 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 539.72 437.10 Td (lower ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.80 425.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 79.88 425.10 Td (or ) Tj ET Q q 0 0 0 rg BT 91.17 425.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 132.46 425.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 149.31 425.10 Td (value ) Tj ET Q q 0 0 0 rg BT 173.93 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 185.23 425.10 Td (unproved ) Tj ET Q q 0 0 0 rg BT 225.97 425.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 268.92 425.10 Td (included ) Tj ET Q q 0 0 0 rg BT 306.33 425.10 Td (in ) Tj ET Q q 0 0 0 rg BT 317.07 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.26 425.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 355.23 425.10 Td (being ) Tj ET Q q 0 0 0 rg BT 380.41 425.10 Td (amortized, ) Tj ET Q q 0 0 0 rg BT 425.86 425.10 Td (if ) Tj ET Q q 0 0 0 rg BT 434.94 425.10 Td (any; ) Tj ET Q q 0 0 0 rg BT 455.13 425.10 Td (less ) Tj ET Q q 0 0 0 rg BT 473.09 425.10 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 487.72 425.10 Td (related ) Tj ET Q q 0 0 0 rg BT 517.89 425.10 Td (income ) Tj ET Q q 0 0 0 rg BT 550.30 425.10 Td (tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 413.10 Td (fects.��Our ) Tj ET Q q 0 0 0 rg BT 101.14 413.10 Td (future ) Tj ET Q q 0 0 0 rg BT 127.15 413.10 Td (net ) Tj ET Q q 0 0 0 rg BT 141.49 413.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 179.16 413.10 Td (from ) Tj ET Q q 0 0 0 rg BT 200.73 413.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 230.62 413.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 243.31 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.87 413.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 289.76 413.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 305.22 413.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 340.11 413.10 Td (are ) Tj ET Q q 0 0 0 rg BT 354.44 413.10 Td (not ) Tj ET Q q 0 0 0 rg BT 369.35 413.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 403.12 413.10 Td (for ) Tj ET Q q 0 0 0 rg BT 416.91 413.10 Td (development ) Tj ET Q q 0 0 0 rg BT 470.69 413.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 492.82 413.10 Td (related ) Tj ET Q q 0 0 0 rg BT 522.15 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 532.05 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 546.40 413.10 Td (cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.16 401.10 Td (drilling ) Tj ET Q q 0 0 0 rg BT 91.93 401.10 Td (for ) Tj ET Q q 0 0 0 rg BT 105.92 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 122.69 401.10 Td (developing ) Tj ET Q q 0 0 0 rg BT 169.45 401.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 183.34 399.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.59 401.10 Td ( ) Tj ET Q q 0 0 0 rg BT 188.92 401.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 224.01 401.10 Td (nor ) Tj ET Q q 0 0 0 rg BT 239.67 401.10 Td (those ) Tj ET Q q 0 0 0 rg BT 263.11 401.10 Td (related ) Tj ET Q q 0 0 0 rg BT 292.64 401.10 Td (to ) Tj ET Q q 0 0 0 rg BT 302.74 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.29 401.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 335.73 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 346.39 401.10 Td (constructing ) Tj ET Q q 0 0 0 rg BT 398.15 401.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 412.04 399.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.29 401.10 Td ( ) Tj ET Q q 0 0 0 rg BT 417.62 401.10 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 458.55 401.10 Td (as ) Tj ET Q q 0 0 0 rg BT 469.21 401.10 Td (we ) Tj ET Q q 0 0 0 rg BT 483.20 401.10 Td (do ) Tj ET Q q 0 0 0 rg BT 495.53 401.10 Td (not ) Tj ET Q q 0 0 0 rg BT 510.64 401.10 Td (have ) Tj ET Q q 0 0 0 rg BT 531.84 401.10 Td (to ) Tj ET Q q 0 0 0 rg BT 541.95 401.10 Td (incur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 92.59 389.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 115.69 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 126.56 389.10 Td (develop ) Tj ET Q q 0 0 0 rg BT 161.32 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.63 389.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 207.50 389.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 221.15 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 238.69 389.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 269.55 389.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 285.98 389.10 Td (reserves.��) Tj ET Q q 0 0 0 rg BT 326.06 389.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 371.07 389.10 Td (we ) Tj ET Q q 0 0 0 rg BT 385.83 389.10 Td (include ) Tj ET Q q 0 0 0 rg BT 418.36 389.10 Td (in ) Tj ET Q q 0 0 0 rg BT 429.24 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 444.55 389.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 474.86 389.10 Td (test, ) Tj ET Q q 0 0 0 rg BT 494.35 389.10 Td (as ) Tj ET Q q 0 0 0 rg BT 505.77 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 513.31 389.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 554.17 389.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (future ) Tj ET Q q 0 0 0 rg BT 76.01 377.10 Td (net ) Tj ET Q q 0 0 0 rg BT 90.87 377.10 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 131.54 377.10 Td (that ) Tj ET Q q 0 0 0 rg BT 149.17 377.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 180.69 377.10 Td (of ) Tj ET Q q 0 0 0 rg BT 191.66 377.10 Td (our ) Tj ET Q q 0 0 0 rg BT 207.62 377.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 253.56 377.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 267.46 375.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.71 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 273.34 377.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 295.98 377.10 Td (related ) Tj ET Q q 0 0 0 rg BT 325.81 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 336.23 377.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 350.12 375.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.37 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 356.01 377.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 391.40 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.47 377.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 422.37 375.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.62 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 428.25 377.10 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 466.99 377.10 Td (that ) Tj ET Q q 0 0 0 rg BT 484.62 377.10 Td (we ) Tj ET Q q 0 0 0 rg BT 498.92 377.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 534.87 377.10 Td (will ) Tj ET Q q 0 0 0 rg BT 553.07 377.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (consumed ) Tj ET Q q 0 0 0 rg BT 92.31 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 102.35 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 116.83 365.10 Td (process ) Tj ET Q q 0 0 0 rg BT 149.08 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 159.68 365.10 Td (producing ) Tj ET Q q 0 0 0 rg BT 202.49 365.10 Td (our ) Tj ET Q q 0 0 0 rg BT 218.08 365.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 248.11 365.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 260.93 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 277.63 365.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 307.66 365.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 323.25 365.10 Td (reserves.��) Tj ET Q q 0 0 0 rg BT 363.33 365.10 Td (The ) Tj ET Q q 0 0 0 rg BT 381.14 365.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 397.28 365.10 Td (value ) Tj ET Q q 0 0 0 rg BT 421.20 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.79 365.10 Td (our ) Tj ET Q q 0 0 0 rg BT 447.39 365.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 460.21 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 476.91 365.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 506.94 365.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 522.53 365.10 Td (derivative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 87.67 353.10 Td (is ) Tj ET Q q 0 0 0 rg BT 96.41 353.10 Td (not ) Tj ET Q q 0 0 0 rg BT 111.26 353.10 Td (included ) Tj ET Q q 0 0 0 rg BT 147.77 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 157.63 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 171.92 353.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 201.20 353.10 Td (test, ) Tj ET Q q 0 0 0 rg BT 219.66 353.10 Td (as ) Tj ET Q q 0 0 0 rg BT 230.07 353.10 Td (we ) Tj ET Q q 0 0 0 rg BT 243.80 353.10 Td (do ) Tj ET Q q 0 0 0 rg BT 255.88 353.10 Td (not ) Tj ET Q q 0 0 0 rg BT 270.73 353.10 Td (designate ) Tj ET Q q 0 0 0 rg BT 310.57 353.10 Td (these ) Tj ET Q q 0 0 0 rg BT 333.19 353.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 371.36 353.10 Td (as ) Tj ET Q q 0 0 0 rg BT 381.76 353.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 416.05 353.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 464.79 353.10 Td (for ) Tj ET Q q 0 0 0 rg BT 478.52 353.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 524.47 353.10 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 565.02 353.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.55 341.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 86.16 341.10 Td (center ) Tj ET Q q 0 0 0 rg BT 113.08 341.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 142.79 341.10 Td (test ) Tj ET Q q 0 0 0 rg BT 159.18 341.10 Td (is ) Tj ET Q q 0 0 0 rg BT 168.35 341.10 Td (prepared ) Tj ET Q q 0 0 0 rg BT 205.82 341.10 Td (quarterly) Tj ET Q q 0 0 0 rg BT 241.27 341.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 317.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.54 317.10 Td (average ) Tj ET Q q 0 0 0 rg BT 119.11 317.10 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 211.58 317.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 250.73 317.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 263.78 317.10 Td (price ) Tj ET Q q 0 0 0 rg BT 286.26 317.10 Td (used ) Tj ET Q q 0 0 0 rg BT 307.08 317.10 Td (in ) Tj ET Q q 0 0 0 rg BT 317.35 317.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 361.50 317.10 Td (our ) Tj ET Q q 0 0 0 rg BT 377.32 317.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 407.58 317.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 442.83 317.10 Td (declined ) Tj ET Q q 0 0 0 rg BT 479.20 317.10 Td (throughout ) Tj ET Q q 0 0 0 rg BT 525.58 317.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 548.07 317.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (led ) Tj ET Q q 0 0 0 rg BT 64.07 305.10 Td (to ) Tj ET Q q 0 0 0 rg BT 74.21 305.10 Td (our ) Tj ET Q q 0 0 0 rg BT 89.90 305.10 Td (recognizing ) Tj ET Q q 0 0 0 rg BT 139.46 305.10 Td (a ) Tj ET Q q 0 0 0 rg BT 146.25 305.10 Td (full ) Tj ET Q q 0 0 0 rg BT 162.50 305.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 180.96 305.10 Td (pool ) Tj ET Q q 0 0 0 rg BT 201.10 305.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 230.67 305.10 Td (test ) Tj ET Q q 0 0 0 rg BT 246.91 305.10 Td (write-down ) Tj ET Q q 0 0 0 rg BT 295.37 305.10 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.28 305.10 Td ($810.9 ) Tj ET Q q 0 0 0 rg BT 358.13 305.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.03 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 389.38 305.10 Td (during ) Tj ET Q q 0 0 0 rg BT 417.85 305.10 Td (2016. ) Tj ET Q q 0 0 0 rg BT 442.71 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 444.89 305.10 Td (W) Tj ET Q q 0 0 0 rg BT 453.53 305.10 Td (e ) Tj ET Q q 0 0 0 rg BT 460.33 305.10 Td (did ) Tj ET Q q 0 0 0 rg BT 475.46 305.10 Td (not ) Tj ET Q q 0 0 0 rg BT 490.60 305.10 Td (record ) Tj ET Q q 0 0 0 rg BT 518.49 305.10 Td (any ) Tj ET Q q 0 0 0 rg BT 535.29 305.10 Td (ceiling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (test ) Tj ET Q q 0 0 0 rg BT 65.89 293.10 Td (write-downs ) Tj ET Q q 0 0 0 rg BT 118.38 293.10 Td (during ) Tj ET Q q 0 0 0 rg BT 146.99 293.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 169.49 293.10 Td (or ) Tj ET Q q 0 0 0 rg BT 180.32 293.10 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 269.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 269.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.20 269.10 Td (exclude ) Tj ET Q q 0 0 0 rg BT 114.93 269.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 143.76 269.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 193.70 269.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 215.32 269.10 Td (from ) Tj ET Q q 0 0 0 rg BT 236.39 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.24 269.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 302.40 269.10 Td (base ) Tj ET Q q 0 0 0 rg BT 321.80 269.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.87 269.10 Td (full ) Tj ET Q q 0 0 0 rg BT 353.38 269.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 371.12 269.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 399.96 269.10 Td (test ) Tj ET Q q 0 0 0 rg BT 415.47 269.10 Td (pending ) Tj ET Q q 0 0 0 rg BT 449.32 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 463.16 269.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 520.33 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 530.29 269.10 Td (whether ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 79.73 257.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 114.95 257.10 Td (can ) Tj ET Q q 0 0 0 rg BT 131.29 257.10 Td (be ) Tj ET Q q 0 0 0 rg BT 143.20 257.10 Td (assigned ) Tj ET Q q 0 0 0 rg BT 180.10 257.10 Td (to ) Tj ET Q q 0 0 0 rg BT 190.34 257.10 Td (such ) Tj ET Q q 0 0 0 rg BT 211.13 257.10 Td (properties. ) Tj ET Q q 0 0 0 rg BT 256.08 257.10 Td ( ) Tj ET Q q 0 0 0 rg BT 258.37 257.10 Td (These ) Tj ET Q q 0 0 0 rg BT 284.71 257.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 307.17 257.10 Td (are ) Tj ET Q q 0 0 0 rg BT 321.84 257.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 367.61 257.10 Td (to ) Tj ET Q q 0 0 0 rg BT 377.85 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 392.53 257.10 Td (full ) Tj ET Q q 0 0 0 rg BT 408.88 257.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 427.45 257.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 480.45 257.10 Td (base ) Tj ET Q q 0 0 0 rg BT 500.69 257.10 Td (in ) Tj ET Q q 0 0 0 rg BT 510.93 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 525.61 257.10 Td (course ) Tj ET Q q 0 0 0 rg BT 554.17 257.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (these ) Tj ET Q q 0 0 0 rg BT 71.69 245.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 113.31 245.10 Td (being ) Tj ET Q q 0 0 0 rg BT 137.17 245.10 Td (developed, ) Tj ET Q q 0 0 0 rg BT 182.41 245.10 Td (tested ) Tj ET Q q 0 0 0 rg BT 207.37 245.10 Td (and ) Tj ET Q q 0 0 0 rg BT 223.45 245.10 Td (evaluated. ) Tj ET Q q 0 0 0 rg BT 265.90 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 267.18 245.10 Td (At ) Tj ET Q q 0 0 0 rg BT 278.82 245.10 Td (least ) Tj ET Q q 0 0 0 rg BT 298.79 245.10 Td (annually) Tj ET Q q 0 0 0 rg BT 332.57 245.10 Td (, ) Tj ET Q q 0 0 0 rg BT 336.71 245.10 Td (we ) Tj ET Q q 0 0 0 rg BT 350.01 245.10 Td (test ) Tj ET Q q 0 0 0 rg BT 365.54 245.10 Td (these ) Tj ET Q q 0 0 0 rg BT 387.73 245.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 412.70 245.10 Td (for ) Tj ET Q q 0 0 0 rg BT 426.00 245.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 473.74 245.10 Td (based ) Tj ET Q q 0 0 0 rg BT 498.15 245.10 Td (on ) Tj ET Q q 0 0 0 rg BT 509.79 245.10 Td (an ) Tj ET Q q 0 0 0 rg BT 520.87 245.10 Td (evaluation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.13 233.10 Td (management�) Tj ET Q q 0 0 0 rg BT 114.00 233.10 Td (s ) Tj ET Q q 0 0 0 rg BT 120.20 233.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 172.48 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.12 233.10 Td (future ) Tj ET Q q 0 0 0 rg BT 209.30 233.10 Td (pricing, ) Tj ET Q q 0 0 0 rg BT 242.43 233.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 286.38 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 297.02 233.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 319.31 233.10 Td (expiration ) Tj ET Q q 0 0 0 rg BT 362.16 233.10 Td (terms, ) Tj ET Q q 0 0 0 rg BT 389.18 233.10 Td (and ) Tj ET Q q 0 0 0 rg BT 405.92 233.10 Td (planned ) Tj ET Q q 0 0 0 rg BT 439.88 233.10 Td (project ) Tj ET Q q 0 0 0 rg BT 469.95 233.10 Td (development ) Tj ET Q q 0 0 0 rg BT 523.90 233.10 Td (activities. ) Tj ET Q q 0 0 0 rg BT 565.00 233.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (As ) Tj ET Q q 0 0 0 rg BT 63.16 221.10 Td (a ) Tj ET Q q 0 0 0 rg BT 70.14 221.10 Td (result ) Tj ET Q q 0 0 0 rg BT 94.91 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.78 221.10 Td (this ) Tj ET Q q 0 0 0 rg BT 122.78 221.10 Td (analysis, ) Tj ET Q q 0 0 0 rg BT 160.04 221.10 Td (we ) Tj ET Q q 0 0 0 rg BT 174.25 221.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 220.66 221.10 Td (impairments ) Tj ET Q q 0 0 0 rg BT 273.19 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 284.07 221.10 Td (our ) Tj ET Q q 0 0 0 rg BT 299.95 221.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 350.80 221.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 373.35 221.10 Td (totaling ) Tj ET Q q 0 0 0 rg BT 406.45 221.10 Td ($21.4 ) Tj ET Q q 0 0 0 rg BT 431.49 221.10 Td (million ) Tj ET Q q 0 0 0 rg BT 462.93 221.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.92 221.10 Td ($21.0 ) Tj ET Q q 0 0 0 rg BT 504.96 221.10 Td (million ) Tj ET Q q 0 0 0 rg BT 536.40 221.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.64 209.10 Td (years ) Tj ET Q q 0 0 0 rg BT 86.67 209.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 112.48 209.10 Td (December ) Tj ET Q q 0 0 0 rg BT 155.49 209.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 169.92 209.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 191.84 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 208.21 209.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 232.64 209.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 280.30 209.10 Td (, ) Tj ET Q q 0 0 0 rg BT 284.73 209.10 Td (whereby ) Tj ET Q q 0 0 0 rg BT 321.08 209.10 Td (these ) Tj ET Q q 0 0 0 rg BT 343.56 209.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 365.48 209.10 Td (were ) Tj ET Q q 0 0 0 rg BT 386.84 209.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 432.07 209.10 Td (to ) Tj ET Q q 0 0 0 rg BT 441.78 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 455.92 209.10 Td (full ) Tj ET Q q 0 0 0 rg BT 471.74 209.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 489.78 209.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 542.24 209.10 Td (base. ) Tj ET Q q 0 0 0 rg BT 565.01 209.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 197.10 Td (e ) Tj ET Q q 0 0 0 rg BT 65.08 197.10 Td (did ) Tj ET Q q 0 0 0 rg BT 80.35 197.10 Td (not ) Tj ET Q q 0 0 0 rg BT 95.63 197.10 Td (record ) Tj ET Q q 0 0 0 rg BT 123.67 197.10 Td (any ) Tj ET Q q 0 0 0 rg BT 140.61 197.10 Td (impairments ) Tj ET Q q 0 0 0 rg BT 193.10 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.93 197.10 Td (our ) Tj ET Q q 0 0 0 rg BT 219.76 197.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 270.57 197.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 293.07 197.10 Td (during ) Tj ET Q q 0 0 0 rg BT 321.68 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 336.39 197.10 Td (year ) Tj ET Q q 0 0 0 rg BT 356.10 197.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 382.48 197.10 Td (December ) Tj ET Q q 0 0 0 rg BT 426.06 197.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 441.06 197.10 Td (2018.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (T) Tj ET Q q 0 0 0 rg BT 54.14 173.10 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 83.86 173.10 Td (Injection ) Tj ET Q q 0 0 0 rg BT 121.90 173.10 Td (Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 149.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.94 149.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 117.70 149.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 162.24 149.10 Td (are ) Tj ET Q q 0 0 0 rg BT 177.33 149.10 Td (conducted ) Tj ET Q q 0 0 0 rg BT 221.31 149.10 Td (in ) Tj ET Q q 0 0 0 rg BT 231.97 149.10 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 274.29 149.10 Td (that ) Tj ET Q q 0 0 0 rg BT 292.17 149.10 Td (have ) Tj ET Q q 0 0 0 rg BT 313.93 149.10 Td (already ) Tj ET Q q 0 0 0 rg BT 346.24 149.10 Td (produced ) Tj ET Q q 0 0 0 rg BT 386.33 149.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 431.43 149.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 468.20 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.42 149.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 492.86 149.10 Td (over ) Tj ET Q q 0 0 0 rg BT 513.52 149.10 Td (many ) Tj ET Q q 0 0 0 rg BT 538.62 149.10 Td (years; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (however) Tj ET Q q 0 0 0 rg BT 83.53 137.10 Td (, ) Tj ET Q q 0 0 0 rg BT 87.62 137.10 Td (in ) Tj ET Q q 0 0 0 rg BT 96.98 137.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 143.53 137.10 Td (with ) Tj ET Q q 0 0 0 rg BT 162.89 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.70 137.10 Td (rules ) Tj ET Q q 0 0 0 rg BT 197.72 137.10 Td (for ) Tj ET Q q 0 0 0 rg BT 210.97 137.10 Td (recording ) Tj ET Q q 0 0 0 rg BT 250.87 137.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 280.23 137.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 317.07 137.10 Td (we ) Tj ET Q q 0 0 0 rg BT 330.32 137.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 358.56 137.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 399.01 137.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 428.37 137.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 462.71 137.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 505.39 137.10 Td (with ) Tj ET Q q 0 0 0 rg BT 524.76 137.10 Td (enhanced ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 87.22 125.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 132.72 125.10 Td (such ) Tj ET Q q 0 0 0 rg BT 153.79 125.10 Td (as ) Tj ET Q q 0 0 0 rg BT 164.87 125.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 178.76 123.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.01 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 184.75 125.10 Td (injection ) Tj ET Q q 0 0 0 rg BT 222.48 125.10 Td (until ) Tj ET Q q 0 0 0 rg BT 243.56 125.10 Td (we ) Tj ET Q q 0 0 0 rg BT 257.96 125.10 Td (can ) Tj ET Q q 0 0 0 rg BT 274.58 125.10 Td (demonstrate ) Tj ET Q q 0 0 0 rg BT 326.19 125.10 Td (production ) Tj ET Q q 0 0 0 rg BT 372.26 125.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 410.00 125.10 Td (from ) Tj ET Q q 0 0 0 rg BT 432.18 125.10 Td (the ) Tj ET Q q 0 0 0 rg BT 447.13 125.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 478.75 125.10 Td (process ) Tj ET Q q 0 0 0 rg BT 511.48 125.10 Td (or ) Tj ET Q q 0 0 0 rg BT 522.55 125.10 Td (unless ) Tj ET Q q 0 0 0 rg BT 550.29 125.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (field ) Tj ET Q q 0 0 0 rg BT 70.44 113.10 Td (is ) Tj ET Q q 0 0 0 rg BT 79.73 113.10 Td (analogous ) Tj ET Q q 0 0 0 rg BT 122.90 113.10 Td (to ) Tj ET Q q 0 0 0 rg BT 133.30 113.10 Td (an ) Tj ET Q q 0 0 0 rg BT 145.36 113.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 179.64 113.10 Td (flood.��Our ) Tj ET Q q 0 0 0 rg BT 226.42 113.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 249.04 113.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 292.75 113.10 Td (with ) Tj ET Q q 0 0 0 rg BT 313.15 113.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.99 113.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 341.88 111.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.13 113.10 Td ( ) Tj ET Q q 0 0 0 rg BT 347.75 113.10 Td (we ) Tj ET Q q 0 0 0 rg BT 362.03 113.10 Td (produce ) Tj ET Q q 0 0 0 rg BT 396.86 113.10 Td (\(or ) Tj ET Q q 0 0 0 rg BT 411.14 113.10 Td (acquire\) ) Tj ET Q q 0 0 0 rg BT 446.51 113.10 Td (and ) Tj ET Q q 0 0 0 rg BT 463.57 113.10 Td (inject ) Tj ET Q q 0 0 0 rg BT 488.40 113.10 Td (are ) Tj ET Q q 0 0 0 rg BT 503.23 113.10 Td (principally ) Tj ET Q q 0 0 0 rg BT 549.17 113.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 69.77 101.10 Td (out-of-pocket ) Tj ET Q q 0 0 0 rg BT 126.69 101.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 149.19 101.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.02 101.10 Td (production, ) Tj ET Q q 0 0 0 rg BT 208.35 101.10 Td (transportation ) Tj ET Q q 0 0 0 rg BT 266.39 101.10 Td (and ) Tj ET Q q 0 0 0 rg BT 283.33 101.10 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 332.21 101.10 Td (and ) Tj ET Q q 0 0 0 rg BT 349.15 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 359.43 101.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 376.37 101.10 Td (royalties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 77.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 77.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.17 77.10 Td (capitalize, ) Tj ET Q q 0 0 0 rg BT 126.56 77.10 Td (as ) Tj ET Q q 0 0 0 rg BT 137.48 77.10 Td (a ) Tj ET Q q 0 0 0 rg BT 144.51 77.10 Td (development ) Tj ET Q q 0 0 0 rg BT 198.75 77.10 Td (cost, ) Tj ET Q q 0 0 0 rg BT 219.95 77.10 Td (injection ) Tj ET Q q 0 0 0 rg BT 257.53 77.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 280.12 77.10 Td (in ) Tj ET Q q 0 0 0 rg BT 290.49 77.10 Td (fields ) Tj ET Q q 0 0 0 rg BT 315.30 77.10 Td (that ) Tj ET Q q 0 0 0 rg BT 332.88 77.10 Td (are ) Tj ET Q q 0 0 0 rg BT 347.68 77.10 Td (in ) Tj ET Q q 0 0 0 rg BT 358.05 77.10 Td (their ) Tj ET Q q 0 0 0 rg BT 378.96 77.10 Td (development ) Tj ET Q q 0 0 0 rg BT 433.21 77.10 Td (stage, ) Tj ET Q q 0 0 0 rg BT 458.84 77.10 Td (which ) Tj ET Q q 0 0 0 rg BT 485.87 77.10 Td (means ) Tj ET Q q 0 0 0 rg BT 514.01 77.10 Td (we ) Tj ET Q q 0 0 0 rg BT 528.26 77.10 Td (have ) Tj ET Q q 0 0 0 rg BT 549.73 77.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 64.29 65.10 Td (seen ) Tj ET Q q 0 0 0 rg BT 84.63 65.10 Td (incremental ) Tj ET Q q 0 0 0 rg BT 134.41 65.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 147.54 65.10 Td (production ) Tj ET Q q 0 0 0 rg BT 193.44 65.10 Td (due ) Tj ET Q q 0 0 0 rg BT 210.45 65.10 Td (to ) Tj ET Q q 0 0 0 rg BT 220.80 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.60 65.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 249.49 63.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.74 65.10 Td ( ) Tj ET Q q 0 0 0 rg BT 255.31 65.10 Td (injections ) Tj ET Q q 0 0 0 rg BT 296.77 65.10 Td (\(i.e., ) Tj ET Q q 0 0 0 rg BT 317.39 65.10 Td (a ) Tj ET Q q 0 0 0 rg BT 324.40 65.10 Td (production ) Tj ET Q q 0 0 0 rg BT 370.30 65.10 Td (response\).��) Tj ET Q q 0 0 0 rg BT 415.94 65.10 Td (These ) Tj ET Q q 0 0 0 rg BT 442.39 65.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 488.27 65.10 Td (development ) Tj ET Q q 0 0 0 rg BT 542.50 65.10 Td (costs ) Tj ET Q endstream endobj 121 0 obj <> endobj 122 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (will ) Tj ET Q q 0 0 0 rg BT 68.03 713.10 Td (be ) Tj ET Q q 0 0 0 rg BT 80.44 713.10 Td (included ) Tj ET Q q 0 0 0 rg BT 117.84 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 128.59 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 144.89 713.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 196.17 713.10 Td (property ) Tj ET Q q 0 0 0 rg BT 233.02 713.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 255.99 713.10 Td (if ) Tj ET Q q 0 0 0 rg BT 265.06 713.10 Td (there ) Tj ET Q q 0 0 0 rg BT 288.02 713.10 Td (are ) Tj ET Q q 0 0 0 rg BT 303.20 713.10 Td (not ) Tj ET Q q 0 0 0 rg BT 318.95 713.10 Td (already ) Tj ET Q q 0 0 0 rg BT 351.34 713.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 382.08 713.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 413.92 713.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 449.65 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 460.40 713.10 Td (that ) Tj ET Q q 0 0 0 rg BT 478.36 713.10 Td (field.��) Tj ET Q q 0 0 0 rg BT 503.64 713.10 Td (After ) Tj ET Q q 0 0 0 rg BT 527.71 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 542.34 713.10 Td (see ) Tj ET Q q 0 0 0 rg BT 558.08 713.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (production ) Tj ET Q q 0 0 0 rg BT 94.21 701.10 Td (response ) Tj ET Q q 0 0 0 rg BT 130.58 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 139.74 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.34 701.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 167.24 699.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.48 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.87 701.10 Td (injections ) Tj ET Q q 0 0 0 rg BT 212.13 701.10 Td (\(i.e., ) Tj ET Q q 0 0 0 rg BT 231.56 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 245.16 701.10 Td (production ) Tj ET Q q 0 0 0 rg BT 289.87 701.10 Td (stage\), ) Tj ET Q q 0 0 0 rg BT 317.63 701.10 Td (injection ) Tj ET Q q 0 0 0 rg BT 354.01 701.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 375.39 701.10 Td (will ) Tj ET Q q 0 0 0 rg BT 392.33 701.10 Td (be ) Tj ET Q q 0 0 0 rg BT 403.15 701.10 Td (expensed ) Tj ET Q q 0 0 0 rg BT 441.74 701.10 Td (as ) Tj ET Q q 0 0 0 rg BT 451.45 701.10 Td (incurred, ) Tj ET Q q 0 0 0 rg BT 488.65 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 504.48 701.10 Td (any ) Tj ET Q q 0 0 0 rg BT 520.30 701.10 Td (previously ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 85.71 689.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 136.93 689.10 Td (development ) Tj ET Q q 0 0 0 rg BT 191.48 689.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 214.39 689.10 Td (will ) Tj ET Q q 0 0 0 rg BT 232.85 689.10 Td (become ) Tj ET Q q 0 0 0 rg BT 266.85 689.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 298.08 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 308.76 689.10 Td (depletion ) Tj ET Q q 0 0 0 rg BT 348.88 689.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 371.79 689.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 420.23 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.47 689.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 462.14 689.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 493.92 689.10 Td (reserves.��During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 677.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.68 677.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.68 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 99.37 677.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 117.49 677.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.49 677.10 Td (, ) Tj ET Q q 0 0 0 rg BT 143.67 677.10 Td (we ) Tj ET Q q 0 0 0 rg BT 159.02 677.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 206.01 677.10 Td ($24.5 ) Tj ET Q q 0 0 0 rg BT 232.19 677.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 267.27 677.10 Td ($25.0 ) Tj ET Q q 0 0 0 rg BT 293.45 677.10 Td (million ) Tj ET Q q 0 0 0 rg BT 326.03 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 344.15 677.10 Td ($17.3 ) Tj ET Q q 0 0 0 rg BT 370.33 677.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 405.41 677.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 453.07 677.10 Td (, ) Tj ET Q q 0 0 0 rg BT 459.26 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.27 677.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 503.83 677.10 Td (injection ) Tj ET Q q 0 0 0 rg BT 542.50 677.10 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 93.09 665.10 Td (with ) Tj ET Q q 0 0 0 rg BT 113.37 665.10 Td (our ) Tj ET Q q 0 0 0 rg BT 129.20 665.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 160.57 665.10 Td (projects.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 81.43 641.10 Td (T) Tj ET Q q 0 0 0 rg BT 86.07 641.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 617.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 617.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.67 617.10 Td (make ) Tj ET Q q 0 0 0 rg BT 108.42 617.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 138.72 617.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 179.02 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 196.56 617.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 241.32 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 252.19 617.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 303.61 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 320.03 617.10 Td (income ) Tj ET Q q 0 0 0 rg BT 352.56 617.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 367.87 617.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 403.17 617.10 Td (for ) Tj ET Q q 0 0 0 rg BT 417.93 617.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 456.00 617.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 495.75 617.10 Td (purposes.��) Tj ET Q q 0 0 0 rg BT 538.62 617.10 Td (These ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 89.35 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.43 605.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 150.74 605.10 Td (occur ) Tj ET Q q 0 0 0 rg BT 175.58 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 186.00 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 200.86 605.10 Td (calculation ) Tj ET Q q 0 0 0 rg BT 247.37 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 258.34 605.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 288.18 605.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 303.04 605.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 329.01 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 346.09 605.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 385.95 605.10 Td (that ) Tj ET Q q 0 0 0 rg BT 403.58 605.10 Td (arise ) Tj ET Q q 0 0 0 rg BT 425.10 605.10 Td (from ) Tj ET Q q 0 0 0 rg BT 447.18 605.10 Td (dif) Tj ET Q q 0 0 0 rg BT 458.11 605.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 494.05 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 504.47 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 519.33 605.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 548.08 605.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 96.87 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.03 593.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 140.51 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 156.78 593.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 190.81 593.10 Td (for ) Tj ET Q q 0 0 0 rg BT 204.30 593.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 218.35 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 234.62 593.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 271.43 593.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 309.92 593.10 Td (purposes.��Our ) Tj ET Q q 0 0 0 rg BT 370.35 593.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 399.93 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.20 593.10 Td (state ) Tj ET Q q 0 0 0 rg BT 436.36 593.10 Td (income ) Tj ET Q q 0 0 0 rg BT 467.62 593.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 481.67 593.10 Td (returns ) Tj ET Q q 0 0 0 rg BT 511.27 593.10 Td (are ) Tj ET Q q 0 0 0 rg BT 525.30 593.10 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (not ) Tj ET Q q 0 0 0 rg BT 64.92 581.10 Td (prepared ) Tj ET Q q 0 0 0 rg BT 102.54 581.10 Td (or ) Tj ET Q q 0 0 0 rg BT 113.51 581.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 134.47 581.10 Td (before ) Tj ET Q q 0 0 0 rg BT 162.65 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 177.51 581.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 230.69 581.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 268.31 581.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 313.16 581.10 Td (are ) Tj ET Q q 0 0 0 rg BT 328.01 581.10 Td (prepared; ) Tj ET Q q 0 0 0 rg BT 368.41 581.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 409.63 581.10 Td (we ) Tj ET Q q 0 0 0 rg BT 423.93 581.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 459.89 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.75 581.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 489.61 581.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 512.25 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 523.22 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 539.19 581.10 Td (assets ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 69.10 569.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 111.49 569.10 Td (at ) Tj ET Q q 0 0 0 rg BT 123.87 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.25 569.10 Td (end ) Tj ET Q q 0 0 0 rg BT 160.85 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 174.35 569.10 Td (each ) Tj ET Q q 0 0 0 rg BT 197.83 569.10 Td (period ) Tj ET Q q 0 0 0 rg BT 228.54 569.10 Td (as ) Tj ET Q q 0 0 0 rg BT 242.04 569.10 Td (well ) Tj ET Q q 0 0 0 rg BT 264.42 569.10 Td (as ) Tj ET Q q 0 0 0 rg BT 277.91 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 295.29 569.10 Td (ef) Tj ET Q q 0 0 0 rg BT 302.88 569.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 326.92 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 340.42 569.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 357.80 569.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 377.95 569.10 Td (changes, ) Tj ET Q q 0 0 0 rg BT 417.82 569.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 435.21 569.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 467.03 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 486.63 569.10 Td (net ) Tj ET Q q 0 0 0 rg BT 504.01 569.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 546.94 569.10 Td (loss ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (carryforwards.��) Tj ET Q q 0 0 0 rg BT 112.53 557.10 Td (Adjustments ) Tj ET Q q 0 0 0 rg BT 166.18 557.10 Td (related ) Tj ET Q q 0 0 0 rg BT 196.47 557.10 Td (to ) Tj ET Q q 0 0 0 rg BT 207.34 557.10 Td (these ) Tj ET Q q 0 0 0 rg BT 230.98 557.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 271.28 557.10 Td (are ) Tj ET Q q 0 0 0 rg BT 286.58 557.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 324.65 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 335.52 557.10 Td (our ) Tj ET Q q 0 0 0 rg BT 351.94 557.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 367.25 557.10 Td (provision ) Tj ET Q q 0 0 0 rg BT 408.12 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 419.00 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 434.30 557.10 Td (period ) Tj ET Q q 0 0 0 rg BT 462.94 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 473.81 557.10 Td (which ) Tj ET Q q 0 0 0 rg BT 501.34 557.10 Td (we ) Tj ET Q q 0 0 0 rg BT 516.10 557.10 Td (finalize ) Tj ET Q q 0 0 0 rg BT 549.17 557.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (income ) Tj ET Q q 0 0 0 rg BT 80.56 545.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 94.40 545.10 Td (returns.��Further) Tj ET Q q 0 0 0 rg BT 158.71 545.10 Td (, ) Tj ET Q q 0 0 0 rg BT 162.83 545.10 Td (we ) Tj ET Q q 0 0 0 rg BT 176.12 545.10 Td (must ) Tj ET Q q 0 0 0 rg BT 197.19 545.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 223.26 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.10 545.10 Td (likelihood ) Tj ET Q q 0 0 0 rg BT 279.28 545.10 Td (that ) Tj ET Q q 0 0 0 rg BT 295.90 545.10 Td (we ) Tj ET Q q 0 0 0 rg BT 309.18 545.10 Td (will ) Tj ET Q q 0 0 0 rg BT 326.36 545.10 Td (be ) Tj ET Q q 0 0 0 rg BT 337.43 545.10 Td (able ) Tj ET Q q 0 0 0 rg BT 355.71 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 365.11 545.10 Td (recover ) Tj ET Q q 0 0 0 rg BT 396.71 545.10 Td (or ) Tj ET Q q 0 0 0 rg BT 406.67 545.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 433.28 545.10 Td (our ) Tj ET Q q 0 0 0 rg BT 448.24 545.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 483.17 545.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 497.01 545.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 521.96 545.10 Td (\(primarily ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.61 533.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 106.14 533.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 119.47 533.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 157.22 533.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 186.65 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 203.87 533.10 Td (state ) Tj ET Q q 0 0 0 rg BT 224.97 533.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 243.30 533.10 Td (carryforwards\).��If ) Tj ET Q q 0 0 0 rg BT 319.65 533.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 357.40 533.10 Td (is ) Tj ET Q q 0 0 0 rg BT 366.85 533.10 Td (not ) Tj ET Q q 0 0 0 rg BT 382.40 533.10 Td (likely) Tj ET Q q 0 0 0 rg BT 404.52 533.10 Td (, ) Tj ET Q q 0 0 0 rg BT 409.80 533.10 Td (we ) Tj ET Q q 0 0 0 rg BT 424.24 533.10 Td (must ) Tj ET Q q 0 0 0 rg BT 446.46 533.10 Td (record ) Tj ET Q q 0 0 0 rg BT 474.77 533.10 Td (a ) Tj ET Q q 0 0 0 rg BT 481.99 533.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 521.98 533.10 Td (allowance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (against ) Tj ET Q q 0 0 0 rg BT 80.37 521.10 Td (such ) Tj ET Q q 0 0 0 rg BT 101.25 521.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 137.11 521.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 151.87 521.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 177.75 521.10 Td (for ) Tj ET Q q 0 0 0 rg BT 191.96 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 206.73 521.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 239.27 521.10 Td (we ) Tj ET Q q 0 0 0 rg BT 253.48 521.10 Td (would ) Tj ET Q q 0 0 0 rg BT 281.03 521.10 Td (not ) Tj ET Q q 0 0 0 rg BT 296.36 521.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 325.00 521.10 Td (to ) Tj ET Q q 0 0 0 rg BT 335.33 521.10 Td (recover) Tj ET Q q 0 0 0 rg BT 364.90 521.10 Td (, ) Tj ET Q q 0 0 0 rg BT 369.95 521.10 Td (which ) Tj ET Q q 0 0 0 rg BT 396.94 521.10 Td (would ) Tj ET Q q 0 0 0 rg BT 424.49 521.10 Td (result ) Tj ET Q q 0 0 0 rg BT 449.25 521.10 Td (in ) Tj ET Q q 0 0 0 rg BT 459.58 521.10 Td (an ) Tj ET Q q 0 0 0 rg BT 471.57 521.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 506.87 521.10 Td (to ) Tj ET Q q 0 0 0 rg BT 517.20 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 533.07 521.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 64.56 509.10 Td (expense.��) Tj ET Q q 0 0 0 rg BT 103.72 509.10 Td (As ) Tj ET Q q 0 0 0 rg BT 117.68 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 128.85 509.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 187.78 509.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 213.13 509.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 235.97 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 253.26 509.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 278.60 509.10 Td (we ) Tj ET Q q 0 0 0 rg BT 293.11 509.10 Td (had ) Tj ET Q q 0 0 0 rg BT 310.39 509.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 325.46 509.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 365.51 509.10 Td (allowances ) Tj ET Q q 0 0 0 rg BT 412.78 509.10 Td (totaling ) Tj ET Q q 0 0 0 rg BT 446.18 509.10 Td ($51.1 ) Tj ET Q q 0 0 0 rg BT 471.53 509.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 505.76 509.10 Td ($51.1 ) Tj ET Q q 0 0 0 rg BT 531.11 509.10 Td (million, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.84 497.10 Td ($36.5 ) Tj ET Q q 0 0 0 rg BT 92.24 497.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 126.54 497.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 174.20 497.10 Td (, ) Tj ET Q q 0 0 0 rg BT 179.60 497.10 Td (to ) Tj ET Q q 0 0 0 rg BT 190.28 497.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 219.83 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 234.95 497.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 271.17 497.10 Td (value ) Tj ET Q q 0 0 0 rg BT 295.73 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.96 497.10 Td (our ) Tj ET Q q 0 0 0 rg BT 323.19 497.10 Td (state ) Tj ET Q q 0 0 0 rg BT 344.42 497.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 380.63 497.10 Td (income ) Tj ET Q q 0 0 0 rg BT 412.97 497.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 428.09 497.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 456.82 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 459.51 497.10 Td (The ) Tj ET Q q 0 0 0 rg BT 477.96 497.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 518.08 497.10 Td (allowances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (will ) Tj ET Q q 0 0 0 rg BT 67.55 485.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 97.81 485.10 Td (until ) Tj ET Q q 0 0 0 rg BT 118.63 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 133.34 485.10 Td (realization ) Tj ET Q q 0 0 0 rg BT 178.03 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 188.86 485.10 Td (future ) Tj ET Q q 0 0 0 rg BT 215.23 485.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 251.02 485.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 265.73 485.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 299.88 485.10 Td (are ) Tj ET Q q 0 0 0 rg BT 314.58 485.10 Td (more ) Tj ET Q q 0 0 0 rg BT 337.62 485.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 362.89 485.10 Td (than ) Tj ET Q q 0 0 0 rg BT 382.60 485.10 Td (not ) Tj ET Q q 0 0 0 rg BT 397.87 485.10 Td (to ) Tj ET Q q 0 0 0 rg BT 408.14 485.10 Td (become ) Tj ET Q q 0 0 0 rg BT 441.72 485.10 Td (utilized.��) Tj ET Q q 0 0 0 rg BT 478.66 485.10 Td (A) Tj ET Q q 0 0 0 rg BT 485.33 485.10 Td ( ) Tj ET Q q 0 0 0 rg BT 487.83 485.10 Td (1% ) Tj ET Q q 0 0 0 rg BT 503.65 485.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 538.89 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.17 485.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 87.08 473.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 101.89 473.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 119.46 473.10 Td (would ) Tj ET Q q 0 0 0 rg BT 147.05 473.10 Td (have ) Tj ET Q q 0 0 0 rg BT 168.51 473.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 208.86 473.10 Td (our ) Tj ET Q q 0 0 0 rg BT 224.77 473.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 267.89 473.10 Td (income ) Tj ET Q q 0 0 0 rg BT 299.91 473.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 314.71 473.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 349.51 473.10 Td (\(benefit\) ) Tj ET Q q 0 0 0 rg BT 386.52 473.10 Td (by ) Tj ET Q q 0 0 0 rg BT 399.11 473.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.46 473.10 Td ($4.1 ) Tj ET Q q 0 0 0 rg BT 479.54 473.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.44 473.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.52 473.10 Td ($0.5 ) Tj ET Q q 0 0 0 rg BT 533.61 473.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.51 461.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.84 461.10 Td ($15.2 ) Tj ET Q q 0 0 0 rg BT 96.90 461.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 125.79 461.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 132.69 461.10 Td (for ) Tj ET Q q 0 0 0 rg BT 147.92 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 163.70 461.10 Td (years ) Tj ET Q q 0 0 0 rg BT 188.37 461.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 215.81 461.10 Td (December ) Tj ET Q q 0 0 0 rg BT 260.46 461.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.53 461.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.53 461.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.60 461.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.60 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 326.16 461.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 344.17 461.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.17 461.10 Td (, ) Tj ET Q q 0 0 0 rg BT 370.23 461.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 417.90 461.10 Td (.��See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.40 461.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 466.41 461.10 Td (7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.41 461.10 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 477.47 461.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 510.47 461.10 Td (T) Tj ET Q q 0 0 0 rg BT 515.11 461.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.88 461.10 Td (, ) Tj ET Q q 0 0 0 rg BT 538.95 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 550.29 461.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 104.09 449.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 143.12 449.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 188.81 449.10 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 205.07 449.10 Td (Results ) Tj ET Q q 0 0 0 rg BT 235.77 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 245.36 449.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 292.18 449.10 Td (� ) Tj ET Q q 0 0 0 rg BT 298.99 449.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 330.24 449.10 Td (T) Tj ET Q q 0 0 0 rg BT 334.88 449.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.65 449.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.47 449.10 Td (above ) Tj ET Q q 0 0 0 rg BT 380.16 449.10 Td (for ) Tj ET Q q 0 0 0 rg BT 393.63 449.10 Td (further ) Tj ET Q q 0 0 0 rg BT 422.66 449.10 Td (information ) Tj ET Q q 0 0 0 rg BT 471.68 449.10 Td (concerning ) Tj ET Q q 0 0 0 rg BT 517.92 449.10 Td (our ) Tj ET Q q 0 0 0 rg BT 533.07 449.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (taxes.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 69.78 413.10 Td (V) Tj ET Q q 0 0 0 rg BT 74.78 413.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 94.50 413.10 Td (Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 389.10 Td (The ) Tj ET Q q 0 0 0 rg BT 86.48 389.10 Td (F) Tj ET Q q 0 0 0 rg BT 91.30 389.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 114.19 389.10 Td (defines ) Tj ET Q q 0 0 0 rg BT 146.50 389.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 163.81 389.10 Td (value, ) Tj ET Q q 0 0 0 rg BT 191.40 389.10 Td (establishes ) Tj ET Q q 0 0 0 rg BT 238.16 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 246.04 389.10 Td (framework ) Tj ET Q q 0 0 0 rg BT 293.34 389.10 Td (for ) Tj ET Q q 0 0 0 rg BT 308.44 389.10 Td (measuring ) Tj ET Q q 0 0 0 rg BT 353.53 389.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 370.84 389.10 Td (value ) Tj ET Q q 0 0 0 rg BT 395.93 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 413.80 389.10 Td (expands ) Tj ET Q q 0 0 0 rg BT 450.00 389.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 497.88 389.10 Td (about ) Tj ET Q q 0 0 0 rg BT 523.53 389.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.84 389.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (measurements. ) Tj ET Q q 0 0 0 rg BT 111.63 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 114.06 377.10 Td (It ) Tj ET Q q 0 0 0 rg BT 122.60 377.10 Td (does ) Tj ET Q q 0 0 0 rg BT 143.35 377.10 Td (not ) Tj ET Q q 0 0 0 rg BT 158.56 377.10 Td (require ) Tj ET Q q 0 0 0 rg BT 189.30 377.10 Td (us ) Tj ET Q q 0 0 0 rg BT 200.62 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 210.83 377.10 Td (make ) Tj ET Q q 0 0 0 rg BT 234.91 377.10 Td (any ) Tj ET Q q 0 0 0 rg BT 251.78 377.10 Td (new ) Tj ET Q q 0 0 0 rg BT 270.87 377.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 287.17 377.10 Td (value ) Tj ET Q q 0 0 0 rg BT 311.26 377.10 Td (measurements, ) Tj ET Q q 0 0 0 rg BT 373.39 377.10 Td (but ) Tj ET Q q 0 0 0 rg BT 388.59 377.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 414.34 377.10 Td (establishes ) Tj ET Q q 0 0 0 rg BT 460.09 377.10 Td (a ) Tj ET Q q 0 0 0 rg BT 466.96 377.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 483.26 377.10 Td (value ) Tj ET Q q 0 0 0 rg BT 507.35 377.10 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 547.53 377.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (prioritizes ) Tj ET Q q 0 0 0 rg BT 92.80 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 107.77 365.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 134.98 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 145.51 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 160.48 365.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 200.45 365.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 245.97 365.10 Td (used ) Tj ET Q q 0 0 0 rg BT 267.06 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 277.59 365.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 313.67 365.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 330.30 365.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 357.21 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 359.97 365.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 385.49 365.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 393.24 365.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 420.45 365.10 Td (are ) Tj ET Q q 0 0 0 rg BT 435.41 365.10 Td (given ) Tj ET Q q 0 0 0 rg BT 460.38 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 475.36 365.10 Td (highest ) Tj ET Q q 0 0 0 rg BT 507.00 365.10 Td (priority ) Tj ET Q q 0 0 0 rg BT 539.75 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 365.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 66.17 353.10 Td (value ) Tj ET Q q 0 0 0 rg BT 90.61 353.10 Td (hierarchy) Tj ET Q q 0 0 0 rg BT 127.72 353.10 Td (, ) Tj ET Q q 0 0 0 rg BT 133.01 353.10 Td (as ) Tj ET Q q 0 0 0 rg BT 144.13 353.10 Td (they ) Tj ET Q q 0 0 0 rg BT 164.14 353.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 203.57 353.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 249.68 353.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 276.92 353.10 Td (that ) Tj ET Q q 0 0 0 rg BT 294.70 353.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 323.03 353.10 Td (unadjusted ) Tj ET Q q 0 0 0 rg BT 369.14 353.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 399.15 353.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 425.82 353.10 Td (for ) Tj ET Q q 0 0 0 rg BT 440.27 353.10 Td (identical ) Tj ET Q q 0 0 0 rg BT 477.49 353.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 503.61 353.10 Td (or ) Tj ET Q q 0 0 0 rg BT 514.73 353.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 554.73 353.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (active ) Tj ET Q q 0 0 0 rg BT 76.06 341.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 110.41 341.10 Td (as ) Tj ET Q q 0 0 0 rg BT 121.43 341.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.45 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 147.36 341.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 186.70 341.10 Td (date, ) Tj ET Q q 0 0 0 rg BT 208.55 341.10 Td (while ) Tj ET Q q 0 0 0 rg BT 233.46 341.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 258.91 341.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 266.60 341.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 293.74 341.10 Td (are ) Tj ET Q q 0 0 0 rg BT 308.64 341.10 Td (given ) Tj ET Q q 0 0 0 rg BT 333.54 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.45 341.10 Td (lowest ) Tj ET Q q 0 0 0 rg BT 377.25 341.10 Td (priority) Tj ET Q q 0 0 0 rg BT 406.59 341.10 Td (, ) Tj ET Q q 0 0 0 rg BT 411.79 341.10 Td (as ) Tj ET Q q 0 0 0 rg BT 422.81 341.10 Td (they ) Tj ET Q q 0 0 0 rg BT 442.71 341.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 482.05 341.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 538.05 341.10 Td (inputs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (that ) Tj ET Q q 0 0 0 rg BT 66.82 329.10 Td (are ) Tj ET Q q 0 0 0 rg BT 81.36 329.10 Td (not ) Tj ET Q q 0 0 0 rg BT 96.47 329.10 Td (corroborated ) Tj ET Q q 0 0 0 rg BT 149.88 329.10 Td (by ) Tj ET Q q 0 0 0 rg BT 162.21 329.10 Td (market ) Tj ET Q q 0 0 0 rg BT 192.30 329.10 Td (data. ) Tj ET Q q 0 0 0 rg BT 213.79 329.10 Td ( ) Tj ET Q q 0 0 0 rg BT 215.95 329.10 Td (V) Tj ET Q q 0 0 0 rg BT 222.06 329.10 Td (aluation ) Tj ET Q q 0 0 0 rg BT 256.60 329.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 301.69 329.10 Td (that ) Tj ET Q q 0 0 0 rg BT 319.02 329.10 Td (maximize ) Tj ET Q q 0 0 0 rg BT 360.78 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.32 329.10 Td (use ) Tj ET Q q 0 0 0 rg BT 390.98 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.64 329.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 447.29 329.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 474.06 329.10 Td (are ) Tj ET Q q 0 0 0 rg BT 488.60 329.10 Td (favored. ) Tj ET Q q 0 0 0 rg BT 523.97 329.10 Td ( ) Tj ET Q q 0 0 0 rg BT 526.29 329.10 Td (See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.06 329.10 Td (Note ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (1) Tj ET Q q 0 0 0 rg BT 54.13 317.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 59.13 317.10 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 66.07 317.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 88.29 317.10 Td (V) Tj ET Q q 0 0 0 rg BT 93.29 317.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 114.95 317.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 145.13 317.10 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.90 317.10 Td (, ) Tj ET Q q 0 0 0 rg BT 179.84 317.10 Td (to ) Tj ET Q q 0 0 0 rg BT 192.07 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.73 317.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 265.94 317.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 307.60 317.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 355.92 317.10 Td (for ) Tj ET Q q 0 0 0 rg BT 372.02 317.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 420.91 317.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 463.66 317.10 Td (our ) Tj ET Q q 0 0 0 rg BT 481.44 317.10 Td (recurring ) Tj ET Q q 0 0 0 rg BT 522.53 317.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.85 317.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (measurements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 281.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 113.88 281.10 Td (uses ) Tj ET Q q 0 0 0 rg BT 133.60 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 144.43 281.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 160.81 281.10 Td (value ) Tj ET Q q 0 0 0 rg BT 184.97 281.10 Td (measurements ) Tj ET Q q 0 0 0 rg BT 244.67 281.10 Td (include:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 257.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 257.10 Td (assessment ) Tj ET Q q 0 0 0 rg BT 132.44 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 143.27 257.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 191.87 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 202.70 257.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 246.30 257.10 Td (assets; ) Tj ET Q q 0 0 0 rg BT 274.91 257.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 245.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 245.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 122.98 245.10 Td (value ) Tj ET Q q 0 0 0 rg BT 147.13 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 157.96 245.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 206.01 245.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 248.49 245.10 Td (instruments.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 98.48 221.10 Td (Assessment ) Tj ET Q q 0 0 0 rg BT 146.53 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.81 221.10 Td (Long-Lived ) Tj ET Q q 0 0 0 rg BT 205.24 221.10 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 197.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 197.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.94 197.10 Td (test ) Tj ET Q q 0 0 0 rg BT 99.18 197.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 142.65 197.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 168.34 197.10 Td (that ) Tj ET Q q 0 0 0 rg BT 185.69 197.10 Td (are ) Tj ET Q q 0 0 0 rg BT 200.26 197.10 Td (not ) Tj ET Q q 0 0 0 rg BT 215.40 197.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 246.08 197.10 Td (to ) Tj ET Q q 0 0 0 rg BT 256.22 197.10 Td (our ) Tj ET Q q 0 0 0 rg BT 271.91 197.10 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 310.36 197.10 Td (full ) Tj ET Q q 0 0 0 rg BT 326.61 197.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 345.08 197.10 Td (pool ) Tj ET Q q 0 0 0 rg BT 365.22 197.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 394.79 197.10 Td (test ) Tj ET Q q 0 0 0 rg BT 411.03 197.10 Td (for ) Tj ET Q q 0 0 0 rg BT 425.05 197.10 Td (impairment, ) Tj ET Q q 0 0 0 rg BT 476.01 197.10 Td (including ) Tj ET Q q 0 0 0 rg BT 516.15 197.10 Td (a ) Tj ET Q q 0 0 0 rg BT 522.94 197.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 554.19 197.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.52 185.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 111.52 185.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 125.41 183.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.66 185.10 Td ( ) Tj ET Q q 0 0 0 rg BT 131.36 185.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 174.03 185.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.17 185.10 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 232.46 185.10 Td (whenever ) Tj ET Q q 0 0 0 rg BT 274.02 185.10 Td (events ) Tj ET Q q 0 0 0 rg BT 302.26 185.10 Td (or ) Tj ET Q q 0 0 0 rg BT 313.28 185.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 348.18 185.10 Td (in ) Tj ET Q q 0 0 0 rg BT 358.66 185.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 417.99 185.10 Td (indicate ) Tj ET Q q 0 0 0 rg BT 452.33 185.10 Td (that ) Tj ET Q q 0 0 0 rg BT 470.02 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 484.93 185.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 520.94 185.10 Td (value ) Tj ET Q q 0 0 0 rg BT 545.29 185.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (not ) Tj ET Q q 0 0 0 rg BT 65.23 173.10 Td (be ) Tj ET Q q 0 0 0 rg BT 77.61 173.10 Td (recoverable. ) Tj ET Q q 0 0 0 rg BT 129.69 173.10 Td ( ) Tj ET Q q 0 0 0 rg BT 132.42 173.10 Td (The ) Tj ET Q q 0 0 0 rg BT 150.92 173.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 181.07 173.10 Td (we ) Tj ET Q q 0 0 0 rg BT 195.68 173.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 223.07 173.10 Td (to ) Tj ET Q q 0 0 0 rg BT 233.79 173.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 276.72 173.10 Td (if ) Tj ET Q q 0 0 0 rg BT 285.77 173.10 Td (a ) Tj ET Q q 0 0 0 rg BT 293.16 173.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 337.21 173.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 359.59 173.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 408.64 173.10 Td (test ) Tj ET Q q 0 0 0 rg BT 425.47 173.10 Td (is ) Tj ET Q q 0 0 0 rg BT 435.09 173.10 Td (necessary ) Tj ET Q q 0 0 0 rg BT 476.90 173.10 Td (include, ) Tj ET Q q 0 0 0 rg BT 511.78 173.10 Td (among ) Tj ET Q q 0 0 0 rg BT 541.95 173.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (factors, ) Tj ET Q q 0 0 0 rg BT 81.40 161.10 Td (a ) Tj ET Q q 0 0 0 rg BT 88.04 161.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 132.45 161.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 165.18 161.10 Td (change ) Tj ET Q q 0 0 0 rg BT 195.70 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 205.67 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.09 161.10 Td (business ) Tj ET Q q 0 0 0 rg BT 256.17 161.10 Td (climate ) Tj ET Q q 0 0 0 rg BT 287.80 161.10 Td (that ) Tj ET Q q 0 0 0 rg BT 304.99 161.10 Td (could ) Tj ET Q q 0 0 0 rg BT 329.41 161.10 Td (af) Tj ET Q q 0 0 0 rg BT 337.00 161.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 354.18 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 368.59 161.10 Td (value ) Tj ET Q q 0 0 0 rg BT 392.44 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.97 161.10 Td (a ) Tj ET Q q 0 0 0 rg BT 409.61 161.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 452.91 161.10 Td (asset, ) Tj ET Q q 0 0 0 rg BT 477.04 161.10 Td (a ) Tj ET Q q 0 0 0 rg BT 483.68 161.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 528.09 161.10 Td (decrease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.34 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 73.61 149.10 Td (market ) Tj ET Q q 0 0 0 rg BT 103.44 149.10 Td (price ) Tj ET Q q 0 0 0 rg BT 125.48 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 135.87 149.10 Td (an ) Tj ET Q q 0 0 0 rg BT 147.37 149.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 168.87 149.10 Td (group, ) Tj ET Q q 0 0 0 rg BT 196.76 149.10 Td (a ) Tj ET Q q 0 0 0 rg BT 203.26 149.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 247.53 149.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 280.12 149.10 Td (change ) Tj ET Q q 0 0 0 rg BT 310.50 149.10 Td (in ) Tj ET Q q 0 0 0 rg BT 320.34 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 334.61 149.10 Td (extent ) Tj ET Q q 0 0 0 rg BT 361.11 149.10 Td (or ) Tj ET Q q 0 0 0 rg BT 371.50 149.10 Td (manner ) Tj ET Q q 0 0 0 rg BT 403.54 149.10 Td (in ) Tj ET Q q 0 0 0 rg BT 413.38 149.10 Td (which ) Tj ET Q q 0 0 0 rg BT 439.88 149.10 Td (a ) Tj ET Q q 0 0 0 rg BT 446.38 149.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 489.54 149.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 511.04 149.10 Td (\(asset ) Tj ET Q q 0 0 0 rg BT 535.86 149.10 Td (group\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (is ) Tj ET Q q 0 0 0 rg BT 58.67 137.10 Td (being ) Tj ET Q q 0 0 0 rg BT 83.39 137.10 Td (used ) Tj ET Q q 0 0 0 rg BT 104.23 137.10 Td (or ) Tj ET Q q 0 0 0 rg BT 115.06 137.10 Td (in ) Tj ET Q q 0 0 0 rg BT 125.34 137.10 Td (its ) Tj ET Q q 0 0 0 rg BT 137.30 137.10 Td (physical ) Tj ET Q q 0 0 0 rg BT 173.13 137.10 Td (condition, ) Tj ET Q q 0 0 0 rg BT 215.90 137.10 Td (or ) Tj ET Q q 0 0 0 rg BT 226.74 137.10 Td (a ) Tj ET Q q 0 0 0 rg BT 233.68 137.10 Td (current-period ) Tj ET Q q 0 0 0 rg BT 293.38 137.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 333.64 137.10 Td (or ) Tj ET Q q 0 0 0 rg BT 344.48 137.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 364.75 137.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 385.58 137.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 403.65 137.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 445.59 137.10 Td (with ) Tj ET Q q 0 0 0 rg BT 465.87 137.10 Td (a ) Tj ET Q q 0 0 0 rg BT 472.81 137.10 Td (history ) Tj ET Q q 0 0 0 rg BT 503.09 137.10 Td (of ) Tj ET Q q 0 0 0 rg BT 513.93 137.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 554.20 137.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 69.51 125.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 90.08 125.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 116.21 125.10 Td (or ) Tj ET Q q 0 0 0 rg BT 126.78 125.10 Td (a ) Tj ET Q q 0 0 0 rg BT 133.46 125.10 Td (projection ) Tj ET Q q 0 0 0 rg BT 176.24 125.10 Td (or ) Tj ET Q q 0 0 0 rg BT 186.81 125.10 Td (forecast ) Tj ET Q q 0 0 0 rg BT 220.70 125.10 Td (that ) Tj ET Q q 0 0 0 rg BT 237.93 125.10 Td (demonstrates ) Tj ET Q q 0 0 0 rg BT 292.94 125.10 Td (continuing ) Tj ET Q q 0 0 0 rg BT 337.95 125.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 364.08 125.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 407.42 125.10 Td (with ) Tj ET Q q 0 0 0 rg BT 427.44 125.10 Td (the ) Tj ET Q q 0 0 0 rg BT 441.89 125.10 Td (use ) Tj ET Q q 0 0 0 rg BT 457.46 125.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.03 125.10 Td (a ) Tj ET Q q 0 0 0 rg BT 474.71 125.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 518.06 125.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 539.73 125.10 Td (\(asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (group\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 89.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 89.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.52 89.10 Td (perform ) Tj ET Q q 0 0 0 rg BT 118.67 89.10 Td (our ) Tj ET Q q 0 0 0 rg BT 134.95 89.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 178.99 89.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 201.38 89.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 250.42 89.10 Td (test ) Tj ET Q q 0 0 0 rg BT 267.25 89.10 Td (by ) Tj ET Q q 0 0 0 rg BT 280.20 89.10 Td (comparing ) Tj ET Q q 0 0 0 rg BT 325.90 89.10 Td (the ) Tj ET Q q 0 0 0 rg BT 341.06 89.10 Td (net ) Tj ET Q q 0 0 0 rg BT 356.23 89.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 392.49 89.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 415.43 89.10 Td (of ) Tj ET Q q 0 0 0 rg BT 426.70 89.10 Td (our ) Tj ET Q q 0 0 0 rg BT 442.98 89.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 487.03 89.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 509.41 89.10 Td (groups ) Tj ET Q q 0 0 0 rg BT 539.58 89.10 Td (to ) Tj ET Q q 0 0 0 rg BT 550.30 89.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 92.41 77.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 130.32 77.10 Td (future ) Tj ET Q q 0 0 0 rg BT 156.57 77.10 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 212.27 77.10 Td (net ) Tj ET Q q 0 0 0 rg BT 226.86 77.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 247.00 77.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 271.60 77.10 Td (that ) Tj ET Q q 0 0 0 rg BT 288.97 77.10 Td (are ) Tj ET Q q 0 0 0 rg BT 303.56 77.10 Td (supported ) Tj ET Q q 0 0 0 rg BT 345.37 77.10 Td (by ) Tj ET Q q 0 0 0 rg BT 357.74 77.10 Td (these ) Tj ET Q q 0 0 0 rg BT 380.67 77.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 424.15 77.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 449.85 77.10 Td (which ) Tj ET Q q 0 0 0 rg BT 476.67 77.10 Td (include ) Tj ET Q q 0 0 0 rg BT 508.47 77.10 Td (production ) Tj ET Q q 0 0 0 rg BT 554.18 77.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.28 65.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 102.71 65.10 Td (and ) Tj ET Q q 0 0 0 rg BT 119.59 65.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 154.81 65.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 167.82 65.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.70 65.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 214.91 65.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 230.68 65.10 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 268.39 65.10 Td ( ) Tj ET Q q 0 0 0 rg BT 270.83 65.10 Td (If ) Tj ET Q q 0 0 0 rg BT 279.94 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 294.60 65.10 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 350.37 65.10 Td (net ) Tj ET Q q 0 0 0 rg BT 365.03 65.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 385.25 65.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 409.91 65.10 Td (are ) Tj ET Q q 0 0 0 rg BT 424.57 65.10 Td (below ) Tj ET Q q 0 0 0 rg BT 451.45 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.11 65.10 Td (net ) Tj ET Q q 0 0 0 rg BT 480.77 65.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 516.54 65.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 538.98 65.10 Td (for ) Tj ET Q q 0 0 0 rg BT 553.09 65.10 Td (an ) Tj ET Q endstream endobj 123 0 obj <> endobj 124 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (61) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 71.77 713.10 Td (group, ) Tj ET Q q 0 0 0 rg BT 100.44 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 114.93 713.10 Td (must ) Tj ET Q q 0 0 0 rg BT 137.21 713.10 Td (record ) Tj ET Q q 0 0 0 rg BT 165.59 713.10 Td (an ) Tj ET Q q 0 0 0 rg BT 177.86 713.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 226.79 713.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 245.19 713.10 Td (by ) Tj ET Q q 0 0 0 rg BT 258.02 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.07 713.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 308.40 713.10 Td (if ) Tj ET Q q 0 0 0 rg BT 317.35 713.10 Td (any) Tj ET Q q 0 0 0 rg BT 331.14 713.10 Td (, ) Tj ET Q q 0 0 0 rg BT 336.47 713.10 Td (that ) Tj ET Q q 0 0 0 rg BT 354.30 713.10 Td (net ) Tj ET Q q 0 0 0 rg BT 369.35 713.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 405.50 713.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 428.34 713.10 Td (exceed ) Tj ET Q q 0 0 0 rg BT 458.92 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.98 713.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 490.69 713.10 Td (value ) Tj ET Q q 0 0 0 rg BT 515.18 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 526.34 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.39 713.10 Td (long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (lived ) Tj ET Q q 0 0 0 rg BT 71.90 701.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 93.74 701.10 Td (group. ) Tj ET Q q 0 0 0 rg BT 121.97 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 124.37 701.10 Td (Management ) Tj ET Q q 0 0 0 rg BT 178.97 701.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 230.82 701.10 Td (impacting ) Tj ET Q q 0 0 0 rg BT 273.21 701.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 311.15 701.10 Td (future ) Tj ET Q q 0 0 0 rg BT 337.43 701.10 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 393.15 701.10 Td (net ) Tj ET Q q 0 0 0 rg BT 407.77 701.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 427.94 701.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 452.56 701.10 Td (include ) Tj ET Q q 0 0 0 rg BT 484.40 701.10 Td (market ) Tj ET Q q 0 0 0 rg BT 514.56 701.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 554.18 701.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (future ) Tj ET Q q 0 0 0 rg BT 75.60 689.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 123.38 689.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 151.99 689.10 Td (projections ) Tj ET Q q 0 0 0 rg BT 198.65 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 209.21 689.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 249.76 689.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 280.85 689.10 Td (quantities, ) Tj ET Q q 0 0 0 rg BT 324.46 689.10 Td (projections ) Tj ET Q q 0 0 0 rg BT 371.12 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 381.68 689.10 Td (future ) Tj ET Q q 0 0 0 rg BT 407.79 689.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 428.89 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 439.45 689.10 Td (production, ) Tj ET Q q 0 0 0 rg BT 487.50 689.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 515.85 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 532.51 689.10 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.44 677.10 Td (future ) Tj ET Q q 0 0 0 rg BT 86.93 677.10 Td (development ) Tj ET Q q 0 0 0 rg BT 141.19 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 158.24 677.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 198.62 677.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 223.73 677.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 263.54 677.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 311.14 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 328.19 677.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 346.91 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 357.85 677.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 371.74 675.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.99 677.10 Td (, ) Tj ET Q q 0 0 0 rg BT 380.10 677.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 419.91 677.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 457.50 677.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 487.32 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 498.26 677.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 529.74 677.10 Td (reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.66 665.10 Td (risk-adjustment ) Tj ET Q q 0 0 0 rg BT 131.60 665.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 161.53 665.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 193.69 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 204.19 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.13 665.10 Td (net ) Tj ET Q q 0 0 0 rg BT 234.08 665.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 254.57 665.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 282.01 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 284.54 665.10 Td (W) Tj ET Q q 0 0 0 rg BT 293.18 665.10 Td (e ) Tj ET Q q 0 0 0 rg BT 300.34 665.10 Td (did ) Tj ET Q q 0 0 0 rg BT 315.85 665.10 Td (not ) Tj ET Q q 0 0 0 rg BT 331.35 665.10 Td (record ) Tj ET Q q 0 0 0 rg BT 359.61 665.10 Td (an ) Tj ET Q q 0 0 0 rg BT 371.77 665.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 420.60 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 431.65 665.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 475.48 665.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 501.53 665.10 Td (during ) Tj ET Q q 0 0 0 rg BT 530.37 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 545.31 665.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 75.88 653.10 Td (December ) Tj ET Q q 0 0 0 rg BT 119.46 653.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 134.46 653.10 Td (2018.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 98.11 629.10 Td (Derivative ) Tj ET Q q 0 0 0 rg BT 142.81 629.10 Td (Contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 605.10 Td (Historically) Tj ET Q q 0 0 0 rg BT 114.06 605.10 Td (, ) Tj ET Q q 0 0 0 rg BT 119.31 605.10 Td (we ) Tj ET Q q 0 0 0 rg BT 133.72 605.10 Td (have ) Tj ET Q q 0 0 0 rg BT 155.34 605.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 187.52 605.10 Td (into ) Tj ET Q q 0 0 0 rg BT 205.82 605.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 219.13 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 236.31 605.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 266.82 605.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 282.90 605.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 325.63 605.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 364.47 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 375.00 605.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 408.29 605.10 Td (an ) Tj ET Q q 0 0 0 rg BT 420.48 605.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 462.10 605.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 488.72 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 499.80 605.10 Td (our ) Tj ET Q q 0 0 0 rg BT 515.88 605.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 554.73 605.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 97.32 593.10 Td (price ) Tj ET Q q 0 0 0 rg BT 119.58 593.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 136.85 593.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 180.22 593.10 Td (with ) Tj ET Q q 0 0 0 rg BT 200.27 593.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 246.41 593.10 Td (future ) Tj ET Q q 0 0 0 rg BT 272.56 593.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 285.39 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 302.10 593.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 332.13 593.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 347.73 593.10 Td (production ) Tj ET Q q 0 0 0 rg BT 393.33 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 410.04 593.10 Td (to ) Tj ET Q q 0 0 0 rg BT 420.09 593.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 452.91 593.10 Td (more ) Tj ET Q q 0 0 0 rg BT 475.73 593.10 Td (certainty ) Tj ET Q q 0 0 0 rg BT 512.98 593.10 Td (to ) Tj ET Q q 0 0 0 rg BT 523.03 593.10 Td (our ) Tj ET Q q 0 0 0 rg BT 538.63 593.10 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 68.94 581.10 Td (flows.��) Tj ET Q q 0 0 0 rg BT 98.48 581.10 Td (W) Tj ET Q q 0 0 0 rg BT 107.12 581.10 Td (e ) Tj ET Q q 0 0 0 rg BT 113.23 581.10 Td (do ) Tj ET Q q 0 0 0 rg BT 124.90 581.10 Td (not ) Tj ET Q q 0 0 0 rg BT 139.34 581.10 Td (hold ) Tj ET Q q 0 0 0 rg BT 158.79 581.10 Td (or ) Tj ET Q q 0 0 0 rg BT 168.79 581.10 Td (issue ) Tj ET Q q 0 0 0 rg BT 190.46 581.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 232.11 581.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 268.76 581.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 317.10 581.10 Td (for ) Tj ET Q q 0 0 0 rg BT 330.43 581.10 Td (trading ) Tj ET Q q 0 0 0 rg BT 360.42 581.10 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 400.14 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 401.81 581.10 Td (Generally) Tj ET Q q 0 0 0 rg BT 440.59 581.10 Td (, ) Tj ET Q q 0 0 0 rg BT 444.76 581.10 Td (these ) Tj ET Q q 0 0 0 rg BT 466.98 581.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 504.74 581.10 Td (have ) Tj ET Q q 0 0 0 rg BT 525.29 581.10 Td (consisted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.06 569.10 Td (various ) Tj ET Q q 0 0 0 rg BT 91.73 569.10 Td (combinations ) Tj ET Q q 0 0 0 rg BT 147.84 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.40 569.10 Td (price ) Tj ET Q q 0 0 0 rg BT 180.61 569.10 Td (floors, ) Tj ET Q q 0 0 0 rg BT 208.67 569.10 Td (collars, ) Tj ET Q q 0 0 0 rg BT 240.05 569.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 282.26 569.10 Td (collars, ) Tj ET Q q 0 0 0 rg BT 313.64 569.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 359.73 569.10 Td (swaps, ) Tj ET Q q 0 0 0 rg BT 388.91 569.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 435.00 569.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 461.67 569.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 501.65 569.10 Td (with ) Tj ET Q q 0 0 0 rg BT 521.66 569.10 Td (a ) Tj ET Q q 0 0 0 rg BT 528.33 569.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 547.23 569.10 Td (put, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.26 557.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 88.57 557.10 Td (swaps.��Our ) Tj ET Q q 0 0 0 rg BT 138.38 557.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 180.68 557.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 217.98 557.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 266.96 557.10 Td (are ) Tj ET Q q 0 0 0 rg BT 281.48 557.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 318.78 557.10 Td (on ) Tj ET Q q 0 0 0 rg BT 331.09 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 345.63 557.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 378.48 557.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 401.34 557.10 Td (as ) Tj ET Q q 0 0 0 rg BT 411.99 557.10 Td (either ) Tj ET Q q 0 0 0 rg BT 437.07 557.10 Td (an ) Tj ET Q q 0 0 0 rg BT 448.82 557.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 470.58 557.10 Td (or ) Tj ET Q q 0 0 0 rg BT 481.23 557.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 514.65 557.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 555.28 557.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 65.67 545.10 Td (value. ) Tj ET Q q 0 0 0 rg BT 92.13 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 94.26 545.10 Td (The ) Tj ET Q q 0 0 0 rg BT 112.10 545.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 151.61 545.10 Td (methods ) Tj ET Q q 0 0 0 rg BT 187.79 545.10 Td (used ) Tj ET Q q 0 0 0 rg BT 208.42 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 218.49 545.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 254.10 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 268.62 545.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 284.79 545.10 Td (values ) Tj ET Q q 0 0 0 rg BT 312.63 545.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.26 545.10 Td (these ) Tj ET Q q 0 0 0 rg BT 346.10 545.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 371.73 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 388.46 545.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 427.98 545.10 Td (require ) Tj ET Q q 0 0 0 rg BT 458.59 545.10 Td (considerable ) Tj ET Q q 0 0 0 rg BT 511.42 545.10 Td (management ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (judgment ) Tj ET Q q 0 0 0 rg BT 89.73 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.63 533.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 146.30 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 156.54 533.10 Td (derive ) Tj ET Q q 0 0 0 rg BT 183.99 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 198.66 533.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 225.57 533.10 Td (necessary ) Tj ET Q q 0 0 0 rg BT 266.90 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 277.14 533.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 319.58 533.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 335.92 533.10 Td (value ) Tj ET Q q 0 0 0 rg BT 360.03 533.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 402.20 533.10 Td (such ) Tj ET Q q 0 0 0 rg BT 422.99 533.10 Td (as ) Tj ET Q q 0 0 0 rg BT 433.78 533.10 Td (forward ) Tj ET Q q 0 0 0 rg BT 467.89 533.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 494.23 533.10 Td (for ) Tj ET Q q 0 0 0 rg BT 508.35 533.10 Td (commodities, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 82.56 521.10 Td (rates, ) Tj ET Q q 0 0 0 rg BT 107.57 521.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 147.31 521.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 178.14 521.10 Td (and ) Tj ET Q q 0 0 0 rg BT 196.21 521.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 222.60 521.10 Td (worthiness, ) Tj ET Q q 0 0 0 rg BT 272.06 521.10 Td (as ) Tj ET Q q 0 0 0 rg BT 284.02 521.10 Td (well ) Tj ET Q q 0 0 0 rg BT 304.87 521.10 Td (as ) Tj ET Q q 0 0 0 rg BT 316.83 521.10 Td (other ) Tj ET Q q 0 0 0 rg BT 341.01 521.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 376.84 521.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 419.34 521.10 Td (measures. ) Tj ET Q q 0 0 0 rg BT 462.67 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 466.04 521.10 Td (W) Tj ET Q q 0 0 0 rg BT 474.68 521.10 Td (e ) Tj ET Q q 0 0 0 rg BT 482.75 521.10 Td (do ) Tj ET Q q 0 0 0 rg BT 496.38 521.10 Td (not ) Tj ET Q q 0 0 0 rg BT 512.78 521.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 538.63 521.10 Td (hedge ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 96.35 509.10 Td (to ) Tj ET Q q 0 0 0 rg BT 107.10 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 123.40 509.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 171.93 509.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 214.88 509.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 253.95 509.10 Td (under ) Tj ET Q q 0 0 0 rg BT 279.69 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 294.88 509.10 Td (F) Tj ET Q q 0 0 0 rg BT 299.70 509.10 Td (ASC ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 322.13 509.10 Td (Derivatives ) Tj ET Q q 0 0 0 rg BT 371.19 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 389.17 509.10 Td (Hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.61 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 426.58 509.10 Td (topic; ) Tj ET Q q 0 0 0 rg BT 452.33 509.10 Td (accordingly) Tj ET Q q 0 0 0 rg BT 498.88 509.10 Td (, ) Tj ET Q q 0 0 0 rg BT 504.35 509.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 539.53 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 509.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 65.52 497.10 Td (value ) Tj ET Q q 0 0 0 rg BT 89.32 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 99.79 497.10 Td (these ) Tj ET Q q 0 0 0 rg BT 122.48 497.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 171.29 497.10 Td (are ) Tj ET Q q 0 0 0 rg BT 185.64 497.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 231.64 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 241.56 497.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 277.58 497.10 Td (instead ) Tj ET Q q 0 0 0 rg BT 308.05 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 318.52 497.10 Td (char) Tj ET Q q 0 0 0 rg BT 335.55 497.10 Td (ging ) Tj ET Q q 0 0 0 rg BT 355.47 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.83 497.10 Td (ef) Tj ET Q q 0 0 0 rg BT 377.42 497.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 406.76 497.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 437.79 497.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.71 497.10 Td (other ) Tj ET Q q 0 0 0 rg BT 470.40 497.10 Td (comprehensive ) Tj ET Q q 0 0 0 rg BT 533.08 497.10 Td (income ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.00 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 80.28 485.10 Td (inef) Tj ET Q q 0 0 0 rg BT 95.64 485.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 124.91 485.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 155.85 485.10 Td (to ) Tj ET Q q 0 0 0 rg BT 165.69 485.10 Td (earnings.��) Tj ET Q q 0 0 0 rg BT 206.89 485.10 Td (While ) Tj ET Q q 0 0 0 rg BT 233.38 485.10 Td (we ) Tj ET Q q 0 0 0 rg BT 247.10 485.10 Td (may ) Tj ET Q q 0 0 0 rg BT 266.38 485.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 311.74 485.10 Td (more ) Tj ET Q q 0 0 0 rg BT 334.35 485.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 372.52 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 382.36 485.10 Td (our ) Tj ET Q q 0 0 0 rg BT 397.75 485.10 Td (net ) Tj ET Q q 0 0 0 rg BT 412.02 485.10 Td (income ) Tj ET Q q 0 0 0 rg BT 443.52 485.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 467.80 485.10 Td (than ) Tj ET Q q 0 0 0 rg BT 487.08 485.10 Td (if ) Tj ET Q q 0 0 0 rg BT 495.25 485.10 Td (we ) Tj ET Q q 0 0 0 rg BT 508.97 485.10 Td (were ) Tj ET Q q 0 0 0 rg BT 530.46 485.10 Td (to ) Tj ET Q q 0 0 0 rg BT 540.30 485.10 Td (apply ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 75.10 473.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 120.70 473.10 Td (treatment ) Tj ET Q q 0 0 0 rg BT 160.19 473.10 Td (as ) Tj ET Q q 0 0 0 rg BT 170.24 473.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 210.29 473.10 Td (by ) Tj ET Q q 0 0 0 rg BT 222.01 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.96 473.10 Td (F) Tj ET Q q 0 0 0 rg BT 240.78 473.10 Td (ASC ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 261.96 473.10 Td (Derivatives ) Tj ET Q q 0 0 0 rg BT 309.78 473.10 Td (and ) Tj ET Q q 0 0 0 rg BT 326.50 473.10 Td (Hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.94 473.10 Td ( ) Tj ET Q q 0 0 0 rg BT 362.67 473.10 Td (topic, ) Tj ET Q q 0 0 0 rg BT 386.89 473.10 Td (we ) Tj ET Q q 0 0 0 rg BT 400.27 473.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 430.87 473.10 Td (that ) Tj ET Q q 0 0 0 rg BT 447.59 473.10 Td (for ) Tj ET Q q 0 0 0 rg BT 460.98 473.10 Td (us, ) Tj ET Q q 0 0 0 rg BT 474.10 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 488.04 473.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 521.42 473.10 Td (associated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (with ) Tj ET Q q 0 0 0 rg BT 69.78 461.10 Td (applying ) Tj ET Q q 0 0 0 rg BT 107.27 461.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 133.65 461.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 180.02 461.10 Td (do ) Tj ET Q q 0 0 0 rg BT 192.52 461.10 Td (not ) Tj ET Q q 0 0 0 rg BT 207.80 461.10 Td (outweigh ) Tj ET Q q 0 0 0 rg BT 247.52 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.23 461.10 Td (cost, ) Tj ET Q q 0 0 0 rg BT 283.34 461.10 Td (time ) Tj ET Q q 0 0 0 rg BT 303.62 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 320.55 461.10 Td (ef) Tj ET Q q 0 0 0 rg BT 328.14 461.10 Td (fort ) Tj ET Q q 0 0 0 rg BT 345.08 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 355.36 461.10 Td (comply ) Tj ET Q q 0 0 0 rg BT 387.85 461.10 Td (with ) Tj ET Q q 0 0 0 rg BT 408.13 461.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 434.51 461.10 Td (accounting.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (Envir) Tj ET Q q 0 0 0 rg BT 71.35 437.10 Td (onmental ) Tj ET Q q 0 0 0 rg BT 111.06 437.10 Td (and ) Tj ET Q q 0 0 0 rg BT 128.56 437.10 Td (Litigation ) Tj ET Q q 0 0 0 rg BT 170.52 437.10 Td (Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 413.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.87 413.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 127.59 413.10 Td (makes ) Tj ET Q q 0 0 0 rg BT 155.96 413.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 200.45 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 217.72 413.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 257.76 413.10 Td (in ) Tj ET Q q 0 0 0 rg BT 268.36 413.10 Td (recording ) Tj ET Q q 0 0 0 rg BT 309.51 413.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 349.55 413.10 Td (for ) Tj ET Q q 0 0 0 rg BT 364.04 413.10 Td (contingencies ) Tj ET Q q 0 0 0 rg BT 421.85 413.10 Td (such ) Tj ET Q q 0 0 0 rg BT 443.00 413.10 Td (as ) Tj ET Q q 0 0 0 rg BT 454.16 413.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 514.75 413.10 Td (remediation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.56 401.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 96.07 401.10 Td (litigation. ) Tj ET Q q 0 0 0 rg BT 137.41 401.10 Td ( ) Tj ET Q q 0 0 0 rg BT 140.14 401.10 Td (Liabilities ) Tj ET Q q 0 0 0 rg BT 183.42 401.10 Td (are ) Tj ET Q q 0 0 0 rg BT 198.36 401.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 236.06 401.10 Td (when ) Tj ET Q q 0 0 0 rg BT 260.45 401.10 Td (it ) Tj ET Q q 0 0 0 rg BT 268.74 401.10 Td (is ) Tj ET Q q 0 0 0 rg BT 278.14 401.10 Td (both ) Tj ET Q q 0 0 0 rg BT 298.65 401.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 336.37 401.10 Td (that ) Tj ET Q q 0 0 0 rg BT 354.09 401.10 Td (a ) Tj ET Q q 0 0 0 rg BT 361.26 401.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 379.56 401.10 Td (has ) Tj ET Q q 0 0 0 rg BT 395.62 401.10 Td (been ) Tj ET Q q 0 0 0 rg BT 417.23 401.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 453.27 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 470.44 401.10 Td (such ) Tj ET Q q 0 0 0 rg BT 491.50 401.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 509.79 401.10 Td (is ) Tj ET Q q 0 0 0 rg BT 519.20 401.10 Td (reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (estimable. ) Tj ET Q q 0 0 0 rg BT 92.95 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 95.00 389.10 Td (Assessments ) Tj ET Q q 0 0 0 rg BT 148.74 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 159.70 389.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 199.54 389.10 Td (are ) Tj ET Q q 0 0 0 rg BT 214.38 389.10 Td (based ) Tj ET Q q 0 0 0 rg BT 239.77 389.10 Td (on ) Tj ET Q q 0 0 0 rg BT 252.40 389.10 Td (information ) Tj ET Q q 0 0 0 rg BT 302.24 389.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 339.31 389.10 Td (from ) Tj ET Q q 0 0 0 rg BT 361.37 389.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 412.87 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 429.94 389.10 Td (in-house ) Tj ET Q q 0 0 0 rg BT 467.01 389.10 Td (experts, ) Tj ET Q q 0 0 0 rg BT 501.01 389.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 519.20 389.10 Td (experience ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.50 377.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 89.50 377.10 Td (situations, ) Tj ET Q q 0 0 0 rg BT 132.56 377.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 158.66 377.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 180.89 377.10 Td (incurred, ) Tj ET Q q 0 0 0 rg BT 218.93 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 235.59 377.10 Td (other ) Tj ET Q q 0 0 0 rg BT 258.36 377.10 Td (case-by-case ) Tj ET Q q 0 0 0 rg BT 311.66 377.10 Td (factors. ) Tj ET Q q 0 0 0 rg BT 343.60 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 345.33 377.10 Td (Actual ) Tj ET Q q 0 0 0 rg BT 374.21 377.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 396.44 377.10 Td (can ) Tj ET Q q 0 0 0 rg BT 412.54 377.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 432.53 377.10 Td (from ) Tj ET Q q 0 0 0 rg BT 454.20 377.10 Td (such ) Tj ET Q q 0 0 0 rg BT 474.75 377.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 514.19 377.10 Td (for ) Tj ET Q q 0 0 0 rg BT 528.08 377.10 Td (a ) Tj ET Q q 0 0 0 rg BT 534.74 377.10 Td (variety ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.21 365.10 Td (reasons. ) Tj ET Q q 0 0 0 rg BT 95.09 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.30 365.10 Td (The ) Tj ET Q q 0 0 0 rg BT 115.23 365.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 137.61 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.32 365.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 208.46 365.10 Td (remediation ) Tj ET Q q 0 0 0 rg BT 258.60 365.10 Td (or ) Tj ET Q q 0 0 0 rg BT 269.32 365.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 307.81 365.10 Td (can ) Tj ET Q q 0 0 0 rg BT 324.07 365.10 Td (vary ) Tj ET Q q 0 0 0 rg BT 344.22 365.10 Td (from ) Tj ET Q q 0 0 0 rg BT 366.04 365.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 405.64 365.10 Td (due ) Tj ET Q q 0 0 0 rg BT 422.46 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 432.62 365.10 Td (new ) Tj ET Q q 0 0 0 rg BT 451.66 365.10 Td (developments ) Tj ET Q q 0 0 0 rg BT 509.59 365.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 550.28 365.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (facts ) Tj ET Q q 0 0 0 rg BT 72.53 353.10 Td (and ) Tj ET Q q 0 0 0 rg BT 91.13 353.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 151.93 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.42 353.10 Td (each ) Tj ET Q q 0 0 0 rg BT 186.89 353.10 Td (event, ) Tj ET Q q 0 0 0 rg BT 215.20 353.10 Td (including ) Tj ET Q q 0 0 0 rg BT 257.13 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 269.07 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 285.44 353.10 Td (case ) Tj ET Q q 0 0 0 rg BT 306.80 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.29 353.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 381.21 353.10 Td (remediation, ) Tj ET Q q 0 0 0 rg BT 435.62 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 452.00 353.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 482.27 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 494.76 353.10 Td (remediation, ) Tj ET Q q 0 0 0 rg BT 549.17 353.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (understanding ) Tj ET Q q 0 0 0 rg BT 110.01 341.10 Td (of ) Tj ET Q q 0 0 0 rg BT 122.20 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 138.28 341.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 199.90 341.10 Td (impact, ) Tj ET Q q 0 0 0 rg BT 233.47 341.10 Td (remediation ) Tj ET Q q 0 0 0 rg BT 285.09 341.10 Td (methods ) Tj ET Q q 0 0 0 rg BT 322.83 341.10 Td (available, ) Tj ET Q q 0 0 0 rg BT 365.28 341.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.58 341.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 428.53 341.10 Td (requirements, ) Tj ET Q q 0 0 0 rg BT 487.09 341.10 Td (and ) Tj ET Q q 0 0 0 rg BT 505.39 341.10 Td (in ) Tj ET Q q 0 0 0 rg BT 517.03 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 533.11 341.10 Td (case ) Tj ET Q q 0 0 0 rg BT 554.17 341.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (litigation, ) Tj ET Q q 0 0 0 rg BT 90.61 329.10 Td (dif) Tj ET Q q 0 0 0 rg BT 101.54 329.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 127.91 329.10 Td (interpretations ) Tj ET Q q 0 0 0 rg BT 188.17 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 199.00 329.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 219.83 329.10 Td (and ) Tj ET Q q 0 0 0 rg BT 236.77 329.10 Td (facts ) Tj ET Q q 0 0 0 rg BT 258.15 329.10 Td (and ) Tj ET Q q 0 0 0 rg BT 275.09 329.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 325.92 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 336.75 329.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 374.23 329.10 Td (asserted ) Tj ET Q q 0 0 0 rg BT 408.94 329.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 436.99 329.10 Td (incurred.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (Use ) Tj ET Q q 0 0 0 rg BT 67.55 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 78.38 305.10 Td (Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 281.10 Td (See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.91 281.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 105.33 281.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 110.33 281.10 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 114.80 281.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 159.96 281.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 207.48 281.10 Td (Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.69 281.10 Td (, ) Tj ET Q q 0 0 0 rg BT 244.16 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 253.92 281.10 Td (the ) Tj ET Q q 0 0 0 rg BT 268.11 281.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 322.85 281.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 362.04 281.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 407.90 281.10 Td (for ) Tj ET Q q 0 0 0 rg BT 421.53 281.10 Td (a ) Tj ET Q q 0 0 0 rg BT 427.94 281.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 471.59 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 481.89 281.10 Td (our ) Tj ET Q q 0 0 0 rg BT 497.19 281.10 Td (use ) Tj ET Q q 0 0 0 rg BT 512.50 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 522.80 281.10 Td (estimates.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (Recent ) Tj ET Q q 0 0 0 rg BT 80.88 257.10 Td (Accounting Pr) Tj ET Q q 0 0 0 rg BT 142.63 257.10 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 233.10 Td (See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.56 233.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 106.62 233.10 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.62 233.10 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 116.75 233.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 162.51 233.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 210.68 233.10 Td (Policies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 242.89 233.10 Td (, ) Tj ET Q q 0 0 0 rg BT 248.01 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.41 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.25 233.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 328.65 233.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 368.49 233.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 414.99 233.10 Td (for ) Tj ET Q q 0 0 0 rg BT 429.28 233.10 Td (a ) Tj ET Q q 0 0 0 rg BT 436.34 233.10 Td (discussion ) Tj ET Q q 0 0 0 rg BT 480.63 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 491.58 233.10 Td (recent ) Tj ET Q q 0 0 0 rg BT 518.63 233.10 Td (accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (pronouncements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (FOR) Tj ET Q q 0 0 0 rg BT 70.26 197.10 Td (W) Tj ET Q q 0 0 0 rg BT 79.15 197.10 Td (ARD-LOOKING ) Tj ET Q q 0 0 0 rg BT 155.54 197.10 Td (INFORMA) Tj ET Q q 0 0 0 rg BT 203.68 197.10 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 173.10 Td (The ) Tj ET Q q 0 0 0 rg BT 86.28 173.10 Td (data ) Tj ET Q q 0 0 0 rg BT 106.17 173.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 134.94 173.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 180.39 173.10 Td (contained ) Tj ET Q q 0 0 0 rg BT 222.49 173.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.50 173.10 Td (this ) Tj ET Q q 0 0 0 rg BT 250.47 173.10 Td (Annual ) Tj ET Q q 0 0 0 rg BT 283.14 173.10 Td (Report ) Tj ET Q q 0 0 0 rg BT 313.58 173.10 Td (on ) Tj ET Q q 0 0 0 rg BT 326.82 173.10 Td (Form ) Tj ET Q q 0 0 0 rg BT 351.72 173.10 Td (10-K ) Tj ET Q q 0 0 0 rg BT 375.50 173.10 Td (that ) Tj ET Q q 0 0 0 rg BT 393.73 173.10 Td (are ) Tj ET Q q 0 0 0 rg BT 409.17 173.10 Td (not ) Tj ET Q q 0 0 0 rg BT 425.18 173.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 465.62 173.10 Td (facts, ) Tj ET Q q 0 0 0 rg BT 490.23 173.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 533.73 173.10 Td (but ) Tj ET Q q 0 0 0 rg BT 549.74 173.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 80.86 161.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 94.17 161.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 139.41 161.10 Td (found ) Tj ET Q q 0 0 0 rg BT 165.78 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 176.58 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 191.83 161.10 Td (sections ) Tj ET Q q 0 0 0 rg BT 227.08 161.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 260.10 161.10 Td (�Business ) Tj ET Q q 0 0 0 rg BT 303.13 161.10 Td (and ) Tj ET Q q 0 0 0 rg BT 320.60 161.10 Td (Properties� ) Tj ET Q q 0 0 0 rg BT 368.62 161.10 Td (and ) Tj ET Q q 0 0 0 rg BT 386.09 161.10 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.53 161.10 Td (Management�) Tj ET Q q 0 0 0 rg BT 445.51 161.10 Td (s ) Tj ET Q q 0 0 0 rg BT 452.43 161.10 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 499.35 161.10 Td (and ) Tj ET Q q 0 0 0 rg BT 516.15 161.10 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 554.19 161.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 89.91 149.10 Td (Condition ) Tj ET Q q 0 0 0 rg BT 133.11 149.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.75 149.10 Td (Results ) Tj ET Q q 0 0 0 rg BT 183.40 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 194.92 149.10 Td (Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.80 149.10 Td (,� ) Tj ET Q q 0 0 0 rg BT 248.94 149.10 Td (are ) Tj ET Q q 0 0 0 rg BT 264.34 149.10 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 333.08 149.10 Td (statements, ) Tj ET Q q 0 0 0 rg BT 380.99 149.10 Td (as ) Tj ET Q q 0 0 0 rg BT 392.52 149.10 Td (that ) Tj ET Q q 0 0 0 rg BT 410.71 149.10 Td (term ) Tj ET Q q 0 0 0 rg BT 432.23 149.10 Td (is ) Tj ET Q q 0 0 0 rg BT 442.10 149.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 475.29 149.10 Td (in ) Tj ET Q q 0 0 0 rg BT 486.26 149.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 519.46 149.10 Td (21E ) Tj ET Q q 0 0 0 rg BT 538.76 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 149.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 90.37 137.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 130.91 137.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 146.78 137.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.54 137.10 Td (1934, ) Tj ET Q q 0 0 0 rg BT 180.47 137.10 Td (as ) Tj ET Q q 0 0 0 rg BT 190.23 137.10 Td (amended ) Tj ET Q q 0 0 0 rg BT 227.76 137.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 244.74 137.10 Td (�Exchange ) Tj ET Q q 0 0 0 rg BT 289.72 137.10 Td (Act�\), ) Tj ET Q q 0 0 0 rg BT 315.85 137.10 Td (that ) Tj ET Q q 0 0 0 rg BT 332.28 137.10 Td (involve ) Tj ET Q q 0 0 0 rg BT 363.71 137.10 Td (a ) Tj ET Q q 0 0 0 rg BT 369.58 137.10 Td (number ) Tj ET Q q 0 0 0 rg BT 401.56 137.10 Td (of ) Tj ET Q q 0 0 0 rg BT 411.32 137.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 431.64 137.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.52 137.10 Td (uncertainties.��Such ) Tj ET Q q 0 0 0 rg BT 527.54 137.10 Td (forward-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (looking ) Tj ET Q q 0 0 0 rg BT 83.15 125.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 128.46 125.10 Td (may ) Tj ET Q q 0 0 0 rg BT 148.77 125.10 Td (be ) Tj ET Q q 0 0 0 rg BT 161.30 125.10 Td (or ) Tj ET Q q 0 0 0 rg BT 172.73 125.10 Td (may ) Tj ET Q q 0 0 0 rg BT 193.04 125.10 Td (concern, ) Tj ET Q q 0 0 0 rg BT 230.28 125.10 Td (among ) Tj ET Q q 0 0 0 rg BT 260.59 125.10 Td (other ) Tj ET Q q 0 0 0 rg BT 284.23 125.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 314.28 125.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 352.35 125.10 Td (forecasts, ) Tj ET Q q 0 0 0 rg BT 393.48 125.10 Td (future ) Tj ET Q q 0 0 0 rg BT 420.45 125.10 Td (hydrocarbon ) Tj ET Q q 0 0 0 rg BT 474.09 125.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 501.06 125.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.59 125.10 Td (timing, ) Tj ET Q q 0 0 0 rg BT 550.30 125.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (degree ) Tj ET Q q 0 0 0 rg BT 79.18 113.10 Td (and ) Tj ET Q q 0 0 0 rg BT 96.65 113.10 Td (length ) Tj ET Q q 0 0 0 rg BT 124.68 113.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.05 113.10 Td (any ) Tj ET Q q 0 0 0 rg BT 153.52 113.10 Td (price ) Tj ET Q q 0 0 0 rg BT 176.54 113.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 214.55 113.10 Td (for ) Tj ET Q q 0 0 0 rg BT 229.25 113.10 Td (oil, ) Tj ET Q q 0 0 0 rg BT 245.34 113.10 Td (current ) Tj ET Q q 0 0 0 rg BT 276.69 113.10 Td (or ) Tj ET Q q 0 0 0 rg BT 288.05 113.10 Td (future ) Tj ET Q q 0 0 0 rg BT 314.96 113.10 Td (liquidity ) Tj ET Q q 0 0 0 rg BT 351.89 113.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 384.92 113.10 Td (or ) Tj ET Q q 0 0 0 rg BT 396.28 113.10 Td (their ) Tj ET Q q 0 0 0 rg BT 417.64 113.10 Td (adequacy ) Tj ET Q q 0 0 0 rg BT 458.43 113.10 Td (to ) Tj ET Q q 0 0 0 rg BT 469.24 113.10 Td (support ) Tj ET Q q 0 0 0 rg BT 502.28 113.10 Td (our ) Tj ET Q q 0 0 0 rg BT 518.64 113.10 Td (anticipated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (future ) Tj ET Q q 0 0 0 rg BT 75.72 101.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 116.67 101.10 Td (our ) Tj ET Q q 0 0 0 rg BT 132.34 101.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 160.24 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 170.36 101.10 Td (further ) Tj ET Q q 0 0 0 rg BT 199.91 101.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 228.90 101.10 Td (our ) Tj ET Q q 0 0 0 rg BT 244.58 101.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 264.14 101.10 Td (levels, ) Tj ET Q q 0 0 0 rg BT 292.31 101.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 327.44 101.10 Td (future ) Tj ET Q q 0 0 0 rg BT 353.66 101.10 Td (write-downs ) Tj ET Q q 0 0 0 rg BT 405.99 101.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.67 101.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 429.57 101.10 Td (and ) Tj ET Q q 0 0 0 rg BT 446.35 101.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 476.46 101.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 492.14 101.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 529.74 101.10 Td (together ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.10 Td (with ) Tj ET Q q 0 0 0 rg BT 69.42 89.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 121.01 89.10 Td (based ) Tj ET Q q 0 0 0 rg BT 145.92 89.10 Td (on ) Tj ET Q q 0 0 0 rg BT 158.06 89.10 Td (current ) Tj ET Q q 0 0 0 rg BT 188.51 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 205.09 89.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 244.43 89.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 257.13 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 273.71 89.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 289.18 89.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 315.19 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 331.77 89.10 Td (oilfield ) Tj ET Q q 0 0 0 rg BT 362.80 89.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 387.44 89.10 Td (current ) Tj ET Q q 0 0 0 rg BT 417.89 89.10 Td (or ) Tj ET Q q 0 0 0 rg BT 428.36 89.10 Td (future ) Tj ET Q q 0 0 0 rg BT 454.38 89.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 506.50 89.10 Td (or ) Tj ET Q q 0 0 0 rg BT 516.97 89.10 Td (estimations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.29 77.10 Td (our ) Tj ET Q q 0 0 0 rg BT 74.07 77.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 93.29 77.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 116.97 77.10 Td (or ) Tj ET Q q 0 0 0 rg BT 126.76 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.43 77.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 169.09 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 178.88 77.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 212.54 77.10 Td (in ) Tj ET Q q 0 0 0 rg BT 221.78 77.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 268.78 77.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 294.11 77.10 Td (on ) Tj ET Q q 0 0 0 rg BT 305.57 77.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 324.79 77.10 Td (flows, ) Tj ET Q q 0 0 0 rg BT 350.97 77.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 397.41 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 407.20 77.10 Td (capital, ) Tj ET Q q 0 0 0 rg BT 437.80 77.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 480.92 77.10 Td (capacity) Tj ET Q q 0 0 0 rg BT 513.58 77.10 Td (, ) Tj ET Q q 0 0 0 rg BT 517.53 77.10 Td (availability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.68 65.10 Td (advantageous ) Tj ET Q q 0 0 0 rg BT 117.95 65.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 166.35 65.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 209.18 65.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 248.12 65.10 Td (or ) Tj ET Q q 0 0 0 rg BT 259.30 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.36 65.10 Td (predicted ) Tj ET Q q 0 0 0 rg BT 314.41 65.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 335.03 65.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 356.21 65.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 390.71 65.10 Td (therefrom, ) Tj ET Q q 0 0 0 rg BT 435.48 65.10 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 479.42 65.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 508.92 65.10 Td (expenditures, ) Tj ET Q endstream endobj 125 0 obj <> endobj 126 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.11 748.60 Td (�) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 120.65 736.60 Td (Management�) Tj ET Q q 0 0 0 rg BT 177.69 736.60 Td (s Discussion and ) Tj ET Q q 0 0 0 rg BT 249.28 736.60 Td (Analysis of Financial Condition and Results of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (drilling ) Tj ET Q q 0 0 0 rg BT 81.24 713.10 Td (activity ) Tj ET Q q 0 0 0 rg BT 113.53 713.10 Td (or ) Tj ET Q q 0 0 0 rg BT 124.16 713.10 Td (methods, ) Tj ET Q q 0 0 0 rg BT 162.85 713.10 Td (including ) Tj ET Q q 0 0 0 rg BT 202.92 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 217.43 713.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 245.85 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 262.58 713.10 Td (location ) Tj ET Q q 0 0 0 rg BT 297.09 713.10 Td (thereof, ) Tj ET Q q 0 0 0 rg BT 330.21 713.10 Td (nature ) Tj ET Q q 0 0 0 rg BT 357.49 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 368.12 713.10 Td (any ) Tj ET Q q 0 0 0 rg BT 384.86 713.10 Td (future ) Tj ET Q q 0 0 0 rg BT 411.03 713.10 Td (proposed ) Tj ET Q q 0 0 0 rg BT 449.99 713.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 471.73 713.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 493.47 713.10 Td (or ) Tj ET Q q 0 0 0 rg BT 504.10 713.10 Td (dispositions ) Tj ET Q q 0 0 0 rg BT 554.18 713.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.49 701.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 93.38 701.10 Td (or ) Tj ET Q q 0 0 0 rg BT 104.49 701.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 142.81 701.10 Td (thereof, ) Tj ET Q q 0 0 0 rg BT 176.40 701.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 217.50 701.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 246.39 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.50 701.10 Td (commencement ) Tj ET Q q 0 0 0 rg BT 323.58 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 334.69 701.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 348.58 699.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.83 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.60 701.10 Td (flooding ) Tj ET Q q 0 0 0 rg BT 391.27 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.38 701.10 Td (particular ) Tj ET Q q 0 0 0 rg BT 443.46 701.10 Td (fields ) Tj ET Q q 0 0 0 rg BT 468.46 701.10 Td (or ) Tj ET Q q 0 0 0 rg BT 479.56 701.10 Td (areas, ) Tj ET Q q 0 0 0 rg BT 505.38 701.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 534.27 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 545.38 701.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 559.27 699.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (injections ) Tj ET Q q 0 0 0 rg BT 91.24 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 108.55 689.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 134.74 689.10 Td (production ) Tj ET Q q 0 0 0 rg BT 180.93 689.10 Td (responses ) Tj ET Q q 0 0 0 rg BT 222.67 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.31 689.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 265.05 689.10 Td (flooding ) Tj ET Q q 0 0 0 rg BT 301.80 689.10 Td (projects, ) Tj ET Q q 0 0 0 rg BT 338.81 689.10 Td (development ) Tj ET Q q 0 0 0 rg BT 393.33 689.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 434.79 689.10 Td (finding ) Tj ET Q q 0 0 0 rg BT 466.54 689.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 491.90 689.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 538.63 689.10 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 68.10 677.10 Td (savings, ) Tj ET Q q 0 0 0 rg BT 103.09 677.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 132.23 677.10 Td (budgets, ) Tj ET Q q 0 0 0 rg BT 168.32 677.10 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 224.68 677.10 Td (or ) Tj ET Q q 0 0 0 rg BT 235.50 677.10 Td (prediction ) Tj ET Q q 0 0 0 rg BT 278.53 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 289.35 677.10 Td (formation ) Tj ET Q q 0 0 0 rg BT 331.27 677.10 Td (details, ) Tj ET Q q 0 0 0 rg BT 362.37 677.10 Td (production ) Tj ET Q q 0 0 0 rg BT 408.18 677.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 429.55 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 446.47 677.10 Td (volumes ) Tj ET Q q 0 0 0 rg BT 482.85 677.10 Td (or ) Tj ET Q q 0 0 0 rg BT 493.67 677.10 Td (forecasts ) Tj ET Q q 0 0 0 rg BT 531.70 677.10 Td (thereof, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (hydrocarbon ) Tj ET Q q 0 0 0 rg BT 101.83 665.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 132.49 665.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 173.16 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 189.39 665.10 Td (values, ) Tj ET Q q 0 0 0 rg BT 219.23 665.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 233.12 663.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.37 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 238.16 665.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 272.71 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 288.94 665.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 317.40 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 333.63 665.10 Td (their ) Tj ET Q q 0 0 0 rg BT 353.74 665.10 Td (availability) Tj ET Q q 0 0 0 rg BT 398.08 665.10 Td (, ) Tj ET Q q 0 0 0 rg BT 402.37 665.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 439.15 665.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 476.20 665.10 Td (barrels ) Tj ET Q q 0 0 0 rg BT 505.20 665.10 Td (or ) Tj ET Q q 0 0 0 rg BT 515.32 665.10 Td (percentages ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.47 653.10 Td (recoverable ) Tj ET Q q 0 0 0 rg BT 109.74 653.10 Td (original ) Tj ET Q q 0 0 0 rg BT 143.49 653.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 156.68 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 167.10 653.10 Td (place, ) Tj ET Q q 0 0 0 rg BT 193.34 653.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 230.97 653.10 Td (increases ) Tj ET Q q 0 0 0 rg BT 270.25 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 280.67 653.10 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 326.08 653.10 Td (tarif) Tj ET Q q 0 0 0 rg BT 342.56 653.10 Td (fs ) Tj ET Q q 0 0 0 rg BT 352.42 653.10 Td (or ) Tj ET Q q 0 0 0 rg BT 363.39 653.10 Td (other ) Tj ET Q q 0 0 0 rg BT 386.58 653.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 409.20 653.10 Td (restrictions, ) Tj ET Q q 0 0 0 rg BT 458.78 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.63 653.10 Td (likelihood, ) Tj ET Q q 0 0 0 rg BT 519.33 653.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 548.08 653.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 77.99 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.61 641.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 126.64 641.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 157.36 641.10 Td (rates, ) Tj ET Q q 0 0 0 rg BT 180.02 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 193.51 641.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 222.01 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 231.62 641.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 273.99 641.10 Td (rulings ) Tj ET Q q 0 0 0 rg BT 303.05 641.10 Td (or ) Tj ET Q q 0 0 0 rg BT 312.67 641.10 Td (changes, ) Tj ET Q q 0 0 0 rg BT 348.66 641.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 393.80 641.10 Td (outcomes ) Tj ET Q q 0 0 0 rg BT 433.41 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 443.02 641.10 Td (pending ) Tj ET Q q 0 0 0 rg BT 476.52 641.10 Td (litigation, ) Tj ET Q q 0 0 0 rg BT 516.41 641.10 Td (prospective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (legislation ) Tj ET Q q 0 0 0 rg BT 93.47 629.10 Td (af) Tj ET Q q 0 0 0 rg BT 101.06 629.10 Td (fecting ) Tj ET Q q 0 0 0 rg BT 131.14 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.67 629.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 158.54 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 175.30 629.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 190.94 629.10 Td (industry) Tj ET Q q 0 0 0 rg BT 223.07 629.10 Td (, ) Tj ET Q q 0 0 0 rg BT 227.88 629.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 287.96 629.10 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 337.21 629.10 Td (mark-to-market ) Tj ET Q q 0 0 0 rg BT 402.27 629.10 Td (values, ) Tj ET Q q 0 0 0 rg BT 432.63 629.10 Td (competition, ) Tj ET Q q 0 0 0 rg BT 485.21 629.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 526.96 629.10 Td (forecasts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.96 617.10 Td (production, ) Tj ET Q q 0 0 0 rg BT 109.92 617.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 131.93 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 143.39 617.10 Td (return, ) Tj ET Q q 0 0 0 rg BT 172.90 617.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 214.35 617.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 239.98 617.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 275.32 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 286.23 617.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 311.86 617.10 Td (future ) Tj ET Q q 0 0 0 rg BT 338.87 617.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 368.65 617.10 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 422.87 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 440.44 617.10 Td (overall ) Tj ET Q q 0 0 0 rg BT 471.34 617.10 Td (economics, ) Tj ET Q q 0 0 0 rg BT 519.73 617.10 Td (worldwide ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 91.31 605.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 135.92 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 153.29 605.10 Td (other ) Tj ET Q q 0 0 0 rg BT 176.78 605.10 Td (variables ) Tj ET Q q 0 0 0 rg BT 215.81 605.10 Td (surrounding ) Tj ET Q q 0 0 0 rg BT 267.08 605.10 Td (our ) Tj ET Q q 0 0 0 rg BT 283.35 605.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 324.61 605.10 Td (original ) Tj ET Q q 0 0 0 rg BT 358.66 605.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 372.15 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 382.87 605.10 Td (place, ) Tj ET Q q 0 0 0 rg BT 409.40 605.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 454.00 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 471.38 605.10 Td (future ) Tj ET Q q 0 0 0 rg BT 498.19 605.10 Td (plans, ) Tj ET Q q 0 0 0 rg BT 524.74 605.10 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 93.57 593.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 133.74 593.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 179.47 593.10 Td (consequences ) Tj ET Q q 0 0 0 rg BT 236.30 593.10 Td (or ) Tj ET Q q 0 0 0 rg BT 246.48 593.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 281.12 593.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 297.98 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.16 593.10 Td (our ) Tj ET Q q 0 0 0 rg BT 323.35 593.10 Td (pending ) Tj ET Q q 0 0 0 rg BT 357.42 593.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 403.16 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 413.35 593.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 435.07 593.10 Td (V) Tj ET Q q 0 0 0 rg BT 441.69 593.10 Td (ir) Tj ET Q q 0 0 0 rg BT 447.62 593.10 Td (ginia.��Such ) Tj ET Q q 0 0 0 rg BT 496.97 593.10 Td (forward-looking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 94.26 581.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 134.01 581.10 Td (are ) Tj ET Q q 0 0 0 rg BT 148.77 581.10 Td (accompanied ) Tj ET Q q 0 0 0 rg BT 204.07 581.10 Td (by ) Tj ET Q q 0 0 0 rg BT 216.62 581.10 Td (words ) Tj ET Q q 0 0 0 rg BT 243.62 581.10 Td (such ) Tj ET Q q 0 0 0 rg BT 264.50 581.10 Td (as ) Tj ET Q q 0 0 0 rg BT 275.38 581.10 Td (�plan,� ) Tj ET Q q 0 0 0 rg BT 306.52 581.10 Td (�estimate,� ) Tj ET Q q 0 0 0 rg BT 353.77 581.10 Td (�expect,� ) Tj ET Q q 0 0 0 rg BT 393.79 581.10 Td (�predict,� ) Tj ET Q q 0 0 0 rg BT 435.48 581.10 Td (�forecast,� ) Tj ET Q q 0 0 0 rg BT 481.05 581.10 Td (�to ) Tj ET Q q 0 0 0 rg BT 495.82 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 511.70 581.10 Td (knowledge,� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (�anticipate,� ) Tj ET Q q 0 0 0 rg BT 103.06 569.10 Td (�projected,� ) Tj ET Q q 0 0 0 rg BT 154.96 569.10 Td (�preliminary) Tj ET Q q 0 0 0 rg BT 205.40 569.10 Td (,� ) Tj ET Q q 0 0 0 rg BT 215.66 569.10 Td (�should,� ) Tj ET Q q 0 0 0 rg BT 257.03 569.10 Td (�assume,� ) Tj ET Q q 0 0 0 rg BT 301.17 569.10 Td (�believe,� ) Tj ET Q q 0 0 0 rg BT 344.73 569.10 Td (�may� ) Tj ET Q q 0 0 0 rg BT 374.15 569.10 Td (or ) Tj ET Q q 0 0 0 rg BT 385.80 569.10 Td (other ) Tj ET Q q 0 0 0 rg BT 409.67 569.10 Td (words ) Tj ET Q q 0 0 0 rg BT 437.43 569.10 Td (that ) Tj ET Q q 0 0 0 rg BT 455.75 569.10 Td (convey) Tj ET Q q 0 0 0 rg BT 483.97 569.10 Td (, ) Tj ET Q q 0 0 0 rg BT 489.79 569.10 Td (or ) Tj ET Q q 0 0 0 rg BT 501.44 569.10 Td (are ) Tj ET Q q 0 0 0 rg BT 516.97 569.10 Td (intended ) Tj ET Q q 0 0 0 rg BT 554.72 569.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (convey) Tj ET Q q 0 0 0 rg BT 77.73 557.10 Td (, ) Tj ET Q q 0 0 0 rg BT 83.44 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 98.86 557.10 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 147.05 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.59 557.10 Td (future ) Tj ET Q q 0 0 0 rg BT 185.67 557.10 Td (events ) Tj ET Q q 0 0 0 rg BT 214.43 557.10 Td (or ) Tj ET Q q 0 0 0 rg BT 225.96 557.10 Td (outcomes.��Such ) Tj ET Q q 0 0 0 rg BT 295.00 557.10 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 363.74 557.10 Td (information ) Tj ET Q q 0 0 0 rg BT 414.16 557.10 Td (is ) Tj ET Q q 0 0 0 rg BT 424.04 557.10 Td (based ) Tj ET Q q 0 0 0 rg BT 450.02 557.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 473.23 557.10 Td (management�) Tj ET Q q 0 0 0 rg BT 527.09 557.10 Td (s ) Tj ET Q q 0 0 0 rg BT 534.19 557.10 Td (current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (plans, ) Tj ET Q q 0 0 0 rg BT 75.71 545.10 Td (expectations, ) Tj ET Q q 0 0 0 rg BT 130.78 545.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 173.09 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 190.13 545.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 242.17 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.21 545.10 Td (is ) Tj ET Q q 0 0 0 rg BT 268.47 545.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 299.39 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 309.77 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 316.80 545.10 Td (number ) Tj ET Q q 0 0 0 rg BT 349.95 545.10 Td (of ) Tj ET Q q 0 0 0 rg BT 360.88 545.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 382.36 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.40 545.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 453.08 545.10 Td (that ) Tj ET Q q 0 0 0 rg BT 470.68 545.10 Td (could ) Tj ET Q q 0 0 0 rg BT 495.49 545.10 Td (significantly ) Tj ET Q q 0 0 0 rg BT 548.08 545.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (adversely ) Tj ET Q q 0 0 0 rg BT 89.10 533.10 Td (af) Tj ET Q q 0 0 0 rg BT 96.69 533.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 112.95 533.10 Td (current ) Tj ET Q q 0 0 0 rg BT 142.55 533.10 Td (plans, ) Tj ET Q q 0 0 0 rg BT 167.44 533.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 212.59 533.10 Td (actions, ) Tj ET Q q 0 0 0 rg BT 244.70 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.19 533.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 285.59 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 295.20 533.10 Td (such ) Tj ET Q q 0 0 0 rg BT 314.81 533.10 Td (actions ) Tj ET Q q 0 0 0 rg BT 344.42 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 360.14 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 374.75 533.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 411.01 533.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 450.07 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 465.79 533.10 Td (results ) Tj ET Q q 0 0 0 rg BT 493.18 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 502.79 533.10 Td (operations.��) Tj ET Q q 0 0 0 rg BT 551.39 533.10 Td (As ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.75 521.10 Td (consequence, ) Tj ET Q q 0 0 0 rg BT 113.15 521.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 139.83 521.10 Td (results ) Tj ET Q q 0 0 0 rg BT 168.75 521.10 Td (may ) Tj ET Q q 0 0 0 rg BT 188.78 521.10 Td (dif) Tj ET Q q 0 0 0 rg BT 199.71 521.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 213.62 521.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 256.96 521.10 Td (from ) Tj ET Q q 0 0 0 rg BT 279.21 521.10 Td (expectations, ) Tj ET Q q 0 0 0 rg BT 334.51 521.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 374.53 521.10 Td (or ) Tj ET Q q 0 0 0 rg BT 385.67 521.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 437.93 521.10 Td (expressed ) Tj ET Q q 0 0 0 rg BT 480.17 521.10 Td (in ) Tj ET Q q 0 0 0 rg BT 490.76 521.10 Td (or ) Tj ET Q q 0 0 0 rg BT 501.90 521.10 Td (implied ) Tj ET Q q 0 0 0 rg BT 535.27 521.10 Td (by ) Tj ET Q q 0 0 0 rg BT 548.08 521.10 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (forward-looking ) Tj ET Q q 0 0 0 rg BT 117.92 509.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 163.02 509.10 Td (made ) Tj ET Q q 0 0 0 rg BT 187.56 509.10 Td (by ) Tj ET Q q 0 0 0 rg BT 200.45 509.10 Td (us ) Tj ET Q q 0 0 0 rg BT 212.22 509.10 Td (or ) Tj ET Q q 0 0 0 rg BT 223.44 509.10 Td (on ) Tj ET Q q 0 0 0 rg BT 236.33 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 252.54 509.10 Td (behalf.��) Tj ET Q q 0 0 0 rg BT 284.48 509.10 Td (Among ) Tj ET Q q 0 0 0 rg BT 317.36 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.46 509.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 362.56 509.10 Td (that ) Tj ET Q q 0 0 0 rg BT 380.44 509.10 Td (could ) Tj ET Q q 0 0 0 rg BT 405.54 509.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 430.63 509.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 457.39 509.10 Td (results ) Tj ET Q q 0 0 0 rg BT 486.38 509.10 Td (to ) Tj ET Q q 0 0 0 rg BT 497.05 509.10 Td (dif) Tj ET Q q 0 0 0 rg BT 507.98 509.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 521.96 509.10 Td (materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.68 497.10 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 114.86 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 125.61 497.10 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 171.35 497.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 184.88 497.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 211.73 497.10 Td (or ) Tj ET Q q 0 0 0 rg BT 223.03 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 233.78 497.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 254.53 497.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 268.06 497.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 294.91 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 312.32 497.10 Td (consequently ) Tj ET Q q 0 0 0 rg BT 368.05 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 378.80 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.99 497.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 420.84 497.10 Td (received ) Tj ET Q q 0 0 0 rg BT 457.67 497.10 Td (or ) Tj ET Q q 0 0 0 rg BT 468.97 497.10 Td (demand ) Tj ET Q q 0 0 0 rg BT 503.60 497.10 Td (for ) Tj ET Q q 0 0 0 rg BT 518.23 497.10 Td (our ) Tj ET Q q 0 0 0 rg BT 534.53 497.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 548.06 497.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 78.92 485.10 Td (gas; ) Tj ET Q q 0 0 0 rg BT 96.68 485.10 Td (decisions ) Tj ET Q q 0 0 0 rg BT 135.55 485.10 Td (as ) Tj ET Q q 0 0 0 rg BT 145.54 485.10 Td (to ) Tj ET Q q 0 0 0 rg BT 154.97 485.10 Td (production ) Tj ET Q q 0 0 0 rg BT 199.95 485.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 224.93 485.10 Td (and/or ) Tj ET Q q 0 0 0 rg BT 252.14 485.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 282.12 485.10 Td (by ) Tj ET Q q 0 0 0 rg BT 293.77 485.10 Td (OPEC ) Tj ET Q q 0 0 0 rg BT 320.99 485.10 Td (or ) Tj ET Q q 0 0 0 rg BT 330.97 485.10 Td (production ) Tj ET Q q 0 0 0 rg BT 375.96 485.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 400.94 485.10 Td (by ) Tj ET Q q 0 0 0 rg BT 412.59 485.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 432.03 485.10 Td (shale ) Tj ET Q q 0 0 0 rg BT 454.23 485.10 Td (producers ) Tj ET Q q 0 0 0 rg BT 495.32 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 504.75 485.10 Td (future ) Tj ET Q q 0 0 0 rg BT 530.28 485.10 Td (periods; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 74.93 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 85.36 473.10 Td (future ) Tj ET Q q 0 0 0 rg BT 111.34 473.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 140.09 473.10 Td (expenditures; ) Tj ET Q q 0 0 0 rg BT 196.06 473.10 Td (ef) Tj ET Q q 0 0 0 rg BT 203.65 473.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 224.63 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 235.06 473.10 Td (our ) Tj ET Q q 0 0 0 rg BT 250.49 473.10 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 307.02 473.10 Td (success ) Tj ET Q q 0 0 0 rg BT 339.11 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 349.55 473.10 Td (our ) Tj ET Q q 0 0 0 rg BT 364.98 473.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 382.08 473.10 Td (management ) Tj ET Q q 0 0 0 rg BT 435.27 473.10 Td (techniques; ) Tj ET Q q 0 0 0 rg BT 482.91 473.10 Td (accuracy ) Tj ET Q q 0 0 0 rg BT 520.53 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 530.97 473.10 Td (our ) Tj ET Q q 0 0 0 rg BT 546.40 473.10 Td (cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (estimates; ) Tj ET Q q 0 0 0 rg BT 91.55 461.10 Td (availability ) Tj ET Q q 0 0 0 rg BT 138.59 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.98 461.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 173.81 461.10 Td (in ) Tj ET Q q 0 0 0 rg BT 183.65 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.92 461.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 247.18 461.10 Td (banking ) Tj ET Q q 0 0 0 rg BT 281.46 461.10 Td (market; ) Tj ET Q q 0 0 0 rg BT 314.06 461.10 Td (fluctuations ) Tj ET Q q 0 0 0 rg BT 363.33 461.10 Td (in ) Tj ET Q q 0 0 0 rg BT 373.17 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 387.44 461.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 413.38 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 423.77 461.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 449.72 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 466.22 461.10 Td (services; ) Tj ET Q q 0 0 0 rg BT 503.26 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.54 461.10 Td (uncertainty ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.94 449.10 Td (drilling ) Tj ET Q q 0 0 0 rg BT 91.50 449.10 Td (results ) Tj ET Q q 0 0 0 rg BT 119.72 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 136.27 449.10 Td (reserve ) Tj ET Q q 0 0 0 rg BT 167.25 449.10 Td (estimates; ) Tj ET Q q 0 0 0 rg BT 209.36 449.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 249.23 449.10 Td (hazards ) Tj ET Q q 0 0 0 rg BT 281.88 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 298.44 449.10 Td (remediation ) Tj ET Q q 0 0 0 rg BT 348.31 449.10 Td (costs; ) Tj ET Q q 0 0 0 rg BT 373.20 449.10 Td (disruption ) Tj ET Q q 0 0 0 rg BT 415.87 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 426.31 449.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 470.08 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 486.63 449.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 523.73 449.10 Td (from ) Tj ET Q q 0 0 0 rg BT 545.28 449.10 Td (well ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (incidents, ) Tj ET Q q 0 0 0 rg BT 91.01 437.10 Td (hurricanes, ) Tj ET Q q 0 0 0 rg BT 138.06 437.10 Td (tropical ) Tj ET Q q 0 0 0 rg BT 171.51 437.10 Td (storms, ) Tj ET Q q 0 0 0 rg BT 203.59 437.10 Td (forest ) Tj ET Q q 0 0 0 rg BT 229.26 437.10 Td (fires, ) Tj ET Q q 0 0 0 rg BT 252.44 437.10 Td (or ) Tj ET Q q 0 0 0 rg BT 263.68 437.10 Td (other ) Tj ET Q q 0 0 0 rg BT 287.13 437.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 317.80 437.10 Td (occurrences; ) Tj ET Q q 0 0 0 rg BT 371.23 437.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 418.02 437.10 Td (risks; ) Tj ET Q q 0 0 0 rg BT 442.59 437.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 497.70 437.10 Td (for ) Tj ET Q q 0 0 0 rg BT 512.27 437.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 541.83 437.10 Td (or ) Tj ET Q q 0 0 0 rg BT 553.06 437.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (availability; ) Tj ET Q q 0 0 0 rg BT 98.74 425.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 141.88 425.10 Td (in ) Tj ET Q q 0 0 0 rg BT 151.14 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 164.83 425.10 Td (worldwide ) Tj ET Q q 0 0 0 rg BT 209.07 425.10 Td (financial, ) Tj ET Q q 0 0 0 rg BT 248.03 425.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 269.49 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 285.41 425.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 309.65 425.10 Td (markets; ) Tj ET Q q 0 0 0 rg BT 345.55 425.10 Td (general ) Tj ET Q q 0 0 0 rg BT 376.45 425.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 416.80 425.10 Td (conditions; ) Tj ET Q q 0 0 0 rg BT 462.72 425.10 Td (competition; ) Tj ET Q q 0 0 0 rg BT 514.75 425.10 Td (government ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 100.25 413.10 Td (including ) Tj ET Q q 0 0 0 rg BT 141.84 413.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 177.86 413.10 Td (in ) Tj ET Q q 0 0 0 rg BT 189.46 413.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 205.49 413.10 Td (or ) Tj ET Q q 0 0 0 rg BT 217.63 413.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 279.21 413.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 301.36 413.10 Td (or ) Tj ET Q q 0 0 0 rg BT 313.50 413.10 Td (regulations; ) Tj ET Q q 0 0 0 rg BT 364.53 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 382.78 413.10 Td (unexpected ) Tj ET Q q 0 0 0 rg BT 432.13 413.10 Td (delays, ) Tj ET Q q 0 0 0 rg BT 463.99 413.10 Td (as ) Tj ET Q q 0 0 0 rg BT 476.14 413.10 Td (well ) Tj ET Q q 0 0 0 rg BT 497.17 413.10 Td (as ) Tj ET Q q 0 0 0 rg BT 509.32 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 525.35 413.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 548.06 413.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 102.25 401.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 136.67 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 146.10 401.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 158.31 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 174.41 401.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 189.40 401.10 Td (drilling ) Tj ET Q q 0 0 0 rg BT 220.50 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 236.59 401.10 Td (production ) Tj ET Q q 0 0 0 rg BT 281.57 401.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 319.33 401.10 Td (or ) Tj ET Q q 0 0 0 rg BT 329.32 401.10 Td (that ) Tj ET Q q 0 0 0 rg BT 345.97 401.10 Td (are ) Tj ET Q q 0 0 0 rg BT 359.83 401.10 Td (otherwise ) Tj ET Q q 0 0 0 rg BT 400.37 401.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 440.35 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 449.79 401.10 Td (this ) Tj ET Q q 0 0 0 rg BT 465.89 401.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 494.20 401.10 Td (report, ) Tj ET Q q 0 0 0 rg BT 522.24 401.10 Td (including, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (without ) Tj ET Q q 0 0 0 rg BT 83.19 389.10 Td (limitation, ) Tj ET Q q 0 0 0 rg BT 127.71 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.06 389.10 Td (portions ) Tj ET Q q 0 0 0 rg BT 178.97 389.10 Td (referenced ) Tj ET Q q 0 0 0 rg BT 224.29 389.10 Td (above, ) Tj ET Q q 0 0 0 rg BT 253.80 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 271.37 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 286.72 389.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 340.95 389.10 Td (set ) Tj ET Q q 0 0 0 rg BT 355.19 389.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 377.76 389.10 Td (from ) Tj ET Q q 0 0 0 rg BT 400.33 389.10 Td (time ) Tj ET Q q 0 0 0 rg BT 421.24 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 432.15 389.10 Td (time ) Tj ET Q q 0 0 0 rg BT 453.06 389.10 Td (in ) Tj ET Q q 0 0 0 rg BT 463.97 389.10 Td (our ) Tj ET Q q 0 0 0 rg BT 480.44 389.10 Td (other ) Tj ET Q q 0 0 0 rg BT 504.12 389.10 Td (public ) Tj ET Q q 0 0 0 rg BT 532.25 389.10 Td (reports, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (filings ) Tj ET Q q 0 0 0 rg BT 77.56 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 94.50 377.10 Td (public ) Tj ET Q q 0 0 0 rg BT 121.99 377.10 Td (statements.) Tj ET Q endstream endobj 127 0 obj <> endobj 128 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (63) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 725.18505859375 m 347.927734375 725.18505859375 l s q 0 0 0 rg BT 49.50 726.75 Td (Item 7A. Quantitative and Qualitative Disclosur) Tj ET Q q 0 0 0 rg BT 254.31 726.75 Td (es ) Tj ET Q q 0 0 0 rg BT 264.59 726.75 Td (About Market Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 702.75 Td (The ) Tj ET Q q 0 0 0 rg BT 85.83 702.75 Td (information ) Tj ET Q q 0 0 0 rg BT 135.82 702.75 Td (required ) Tj ET Q q 0 0 0 rg BT 171.91 702.75 Td (by ) Tj ET Q q 0 0 0 rg BT 184.69 702.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 205.79 702.75 Td (7A) Tj ET Q q 0 0 0 rg BT 217.46 702.75 Td ( ) Tj ET Q q 0 0 0 rg BT 220.24 702.75 Td (is ) Tj ET Q q 0 0 0 rg BT 229.69 702.75 Td (set ) Tj ET Q q 0 0 0 rg BT 243.57 702.75 Td (forth ) Tj ET Q q 0 0 0 rg BT 265.79 702.75 Td (under ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 291.34 702.75 Td (Market ) Tj ET Q q 0 0 0 rg BT 322.99 702.75 Td (Risk ) Tj ET Q q 0 0 0 rg BT 342.99 702.75 Td (Management) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.20 702.75 Td ( ) Tj ET Q q 0 0 0 rg BT 397.97 702.75 Td (in ) Tj ET Q q 0 0 0 rg BT 408.53 702.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 429.63 702.75 Td (7, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 439.91 702.75 Td (Management�) Tj ET Q q 0 0 0 rg BT 494.16 702.75 Td (s ) Tj ET Q q 0 0 0 rg BT 500.83 702.75 Td (Discussion ) Tj ET Q q 0 0 0 rg BT 547.50 702.75 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 690.75 Td (Analysis ) Tj ET Q q 0 0 0 rg BT 85.89 690.75 Td (of ) Tj ET Q q 0 0 0 rg BT 96.17 690.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 137.55 690.75 Td (Condition ) Tj ET Q q 0 0 0 rg BT 180.05 690.75 Td (and ) Tj ET Q q 0 0 0 rg BT 197.55 690.75 Td (Results ) Tj ET Q q 0 0 0 rg BT 228.94 690.75 Td (of ) Tj ET Q q 0 0 0 rg BT 239.22 690.75 Td (Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.22 690.75 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 665.18505859375 m 313.11328125 665.18505859375 l s q 0 0 0 rg BT 49.50 666.75 Td (Item�8. Financial Statements and Supplementary Information) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 642.25 m 562 642.25 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 646.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 646.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 646.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.25 646.82 Td (Page) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 632.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 632.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 632.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 632.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 618.82 Td (Report of Independent Registered Public ) Tj ET Q q 0 0 0 rg BT 217.74 618.82 Td (Accounting Firm) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 604.82 Td (Consolidated Balance Sheets) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 590.82 Td (Consolidated Statements of Operations) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 576.82 Td (Consolidated Statements of Cash Flows) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 562.82 Td (Consolidated Statements of Changes in Stockholders�) Tj ET Q q 0 0 0 rg BT 267.01 562.82 Td ( Equity) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 548.82 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 548.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 534.82 Td (1.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 534.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 534.82 Td (Significant ) Tj ET Q q 0 0 0 rg BT 135.33 534.82 Td (Accounting Policies) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 520.82 Td (2.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 520.82 Td (Revenue Recognition) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 506.82 Td (3.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 506.82 Td (Potential ) Tj ET Q q 0 0 0 rg BT 127.00 506.82 Td (Asset Sales) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 492.82 Td (4.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 492.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 492.82 Td (Asset Retirement Obligations) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 478.82 Td (5.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 478.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 478.82 Td (Unevaluated Property) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 464.82 Td (6.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 464.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 464.82 Td (Long-T) Tj ET Q q 0 0 0 rg BT 119.35 464.82 Td (erm Debt) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 450.82 Td (7.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 450.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 450.82 Td (Income ) Tj ET Q q 0 0 0 rg BT 121.80 450.82 Td (T) Tj ET Q q 0 0 0 rg BT 127.21 450.82 Td (axes) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 436.82 Td (8.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 436.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 436.82 Td (Stockholders�) Tj ET Q q 0 0 0 rg BT 144.30 436.82 Td ( Equity) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 422.82 Td (9.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 422.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 422.82 Td (Stock Compensation) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 408.82 Td (10.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 408.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 89.50 408.82 Td (Commodity Derivative Contracts) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 394.82 Td (1) Tj ET Q q 0 0 0 rg BT 57.31 394.82 Td (1.) 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546.75 Td (December ) Tj ET Q q 0 0 0 rg BT 167.51 546.75 Td (31, ) Tj ET Q q 0 0 0 rg BT 181.51 546.75 Td (2018 ) Tj ET Q q 0 0 0 rg BT 203.01 546.75 Td (in ) Tj ET Q q 0 0 0 rg BT 212.29 546.75 Td (conformity ) Tj ET Q q 0 0 0 rg BT 258.22 546.75 Td (with ) Tj ET Q q 0 0 0 rg BT 277.50 546.75 Td (accounting ) Tj ET Q q 0 0 0 rg BT 322.87 546.75 Td (principles ) Tj ET Q q 0 0 0 rg BT 363.80 546.75 Td (generally ) Tj ET Q q 0 0 0 rg BT 402.51 546.75 Td (accepted ) Tj ET Q q 0 0 0 rg BT 438.98 546.75 Td (in ) Tj ET Q q 0 0 0 rg BT 448.26 546.75 Td (the ) Tj ET Q q 0 0 0 rg BT 461.97 546.75 Td (United ) Tj ET Q q 0 0 0 rg BT 490.69 546.75 Td (States ) Tj ET Q q 0 0 0 rg BT 516.08 546.75 Td (of ) Tj ET Q q 0 0 0 rg BT 525.58 546.75 Td (America. ) Tj ET Q q 0 0 0 rg BT 565.00 546.75 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.75 Td (Also ) Tj ET Q q 0 0 0 rg BT 71.56 534.75 Td (in ) Tj ET Q q 0 0 0 rg BT 82.50 534.75 Td (our ) Tj ET Q q 0 0 0 rg BT 98.99 534.75 Td (opinion, ) Tj ET Q q 0 0 0 rg BT 135.21 534.75 Td (the ) Tj ET Q q 0 0 0 rg BT 150.59 534.75 Td (Company ) Tj ET Q q 0 0 0 rg BT 192.64 534.75 Td (maintained, ) Tj ET Q q 0 0 0 rg BT 242.74 534.75 Td (in ) Tj ET Q q 0 0 0 rg BT 253.68 534.75 Td (all ) Tj ET Q q 0 0 0 rg BT 266.84 534.75 Td (material ) Tj ET Q q 0 0 0 rg BT 302.76 534.75 Td (respects, ) Tj ET Q q 0 0 0 rg BT 340.63 534.75 Td (ef) Tj ET Q q 0 0 0 rg BT 348.22 534.75 Td (fective ) Tj ET Q q 0 0 0 rg BT 378.59 534.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 412.29 534.75 Td (control ) Tj ET Q q 0 0 0 rg BT 443.78 534.75 Td (over ) Tj ET Q q 0 0 0 rg BT 464.71 534.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 502.86 534.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 542.68 534.75 Td (as ) Tj ET Q q 0 0 0 rg BT 554.17 534.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 522.75 Td (December ) Tj ET Q q 0 0 0 rg BT 93.08 522.75 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.08 522.75 Td (2018, ) Tj ET Q q 0 0 0 rg BT 133.08 522.75 Td (based ) Tj ET Q q 0 0 0 rg BT 158.35 522.75 Td (on ) Tj ET Q q 0 0 0 rg BT 170.85 522.75 Td (criteria ) Tj ET Q q 0 0 0 rg BT 201.66 522.75 Td (established ) Tj ET Q q 0 0 0 rg BT 248.60 522.75 Td (in ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 258.88 522.75 Td (Internal ) Tj ET Q q 0 0 0 rg BT 293.59 522.75 Td (Contr) Tj ET Q q 0 0 0 rg BT 316.56 522.75 Td (ol ) Tj ET Q q 0 0 0 rg BT 326.84 522.75 Td (- ) Tj ET Q q 0 0 0 rg BT 332.67 522.75 Td (Integrated ) Tj ET Q q 0 0 0 rg BT 376.82 522.75 Td (Framework) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.48 522.75 Td ( ) Tj ET Q q 0 0 0 rg BT 425.98 522.75 Td (\(2013\) ) Tj ET Q q 0 0 0 rg BT 455.14 522.75 Td (issued ) Tj ET Q q 0 0 0 rg BT 482.64 522.75 Td (by ) Tj ET Q q 0 0 0 rg BT 495.14 522.75 Td (the ) Tj ET Q q 0 0 0 rg BT 509.86 522.75 Td (COSO.) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 49.50 498.75 Td (Basis ) Tj ET Q q 0 0 0 rg BT 74.23 498.75 Td (for ) Tj ET Q q 0 0 0 rg BT 88.95 498.75 Td (Opinions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.75 Td (The ) Tj ET Q q 0 0 0 rg BT 67.48 474.75 Td (Company's ) Tj ET Q q 0 0 0 rg BT 114.49 474.75 Td (management ) Tj ET Q q 0 0 0 rg BT 168.01 474.75 Td (is ) Tj ET Q q 0 0 0 rg BT 177.11 474.75 Td (responsible ) Tj ET Q q 0 0 0 rg BT 225.09 474.75 Td (for ) Tj ET Q q 0 0 0 rg BT 239.18 474.75 Td (these ) Tj ET Q q 0 0 0 rg BT 262.16 474.75 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 315.13 474.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 352.55 474.75 Td (statements, ) Tj ET Q q 0 0 0 rg BT 399.69 474.75 Td (for ) Tj ET Q q 0 0 0 rg BT 413.78 474.75 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 463.98 474.75 Td (ef) Tj ET Q q 0 0 0 rg BT 471.57 474.75 Td (fective ) Tj ET Q q 0 0 0 rg BT 501.20 474.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 534.18 474.75 Td (control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.75 Td (over ) Tj ET Q q 0 0 0 rg BT 71.22 462.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 110.16 462.75 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 153.27 462.75 Td (and ) Tj ET Q q 0 0 0 rg BT 171.66 462.75 Td (for ) Tj ET Q q 0 0 0 rg BT 187.28 462.75 Td (its ) Tj ET Q q 0 0 0 rg BT 200.68 462.75 Td (assessment ) Tj ET Q q 0 0 0 rg BT 249.08 462.75 Td (of ) Tj ET Q q 0 0 0 rg BT 261.36 462.75 Td (the ) Tj ET Q q 0 0 0 rg BT 277.53 462.75 Td (ef) Tj ET Q q 0 0 0 rg BT 285.12 462.75 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 333.50 462.75 Td (of ) Tj ET Q q 0 0 0 rg BT 345.78 462.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 380.28 462.75 Td (control ) Tj ET Q q 0 0 0 rg BT 412.56 462.75 Td (over ) Tj ET Q q 0 0 0 rg BT 434.29 462.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 473.22 462.75 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 516.33 462.75 Td (included ) Tj ET Q q 0 0 0 rg BT 554.72 462.75 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.75 Td (Management's ) Tj ET Q q 0 0 0 rg BT 110.43 450.75 Td (Report ) Tj ET Q q 0 0 0 rg BT 140.68 450.75 Td (on ) Tj ET Q q 0 0 0 rg BT 153.72 450.75 Td (Internal ) Tj ET Q q 0 0 0 rg BT 187.84 450.75 Td (Control ) Tj ET Q q 0 0 0 rg BT 221.44 450.75 Td (over ) Tj ET Q q 0 0 0 rg BT 242.24 450.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 282.49 450.75 Td (Reporting ) Tj ET Q q 0 0 0 rg BT 325.52 450.75 Td (appearing ) Tj ET Q q 0 0 0 rg BT 367.97 450.75 Td (under ) Tj ET Q q 0 0 0 rg BT 393.78 450.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 415.14 450.75 Td (9A. ) Tj ET Q q 0 0 0 rg BT 432.89 450.75 Td ( ) Tj ET Q q 0 0 0 rg BT 435.93 450.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 454.51 450.75 Td (responsibility ) Tj ET Q q 0 0 0 rg BT 511.99 450.75 Td (is ) Tj ET Q q 0 0 0 rg BT 521.70 450.75 Td (to ) Tj ET Q q 0 0 0 rg BT 532.51 450.75 Td (express ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 438.75 Td (opinions ) Tj ET Q q 0 0 0 rg BT 85.87 438.75 Td (on ) Tj ET Q q 0 0 0 rg BT 97.80 438.75 Td (the ) Tj ET Q q 0 0 0 rg BT 111.94 438.75 Td (Company�) Tj ET Q q 0 0 0 rg BT 153.60 438.75 Td (s ) Tj ET Q q 0 0 0 rg BT 159.42 438.75 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 211.88 438.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 248.79 438.75 Td (statements ) Tj ET Q q 0 0 0 rg BT 292.92 438.75 Td (and ) Tj ET Q q 0 0 0 rg BT 309.29 438.75 Td (on ) Tj ET Q q 0 0 0 rg BT 321.21 438.75 Td (the ) Tj ET Q q 0 0 0 rg BT 335.35 438.75 Td (Company's ) Tj ET Q q 0 0 0 rg BT 381.85 438.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 414.32 438.75 Td (control ) Tj ET Q q 0 0 0 rg BT 444.57 438.75 Td (over ) Tj ET Q q 0 0 0 rg BT 464.26 438.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 501.17 438.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 539.74 438.75 Td (based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.75 Td (on ) Tj ET Q q 0 0 0 rg BT 61.92 426.75 Td (our ) Tj ET Q q 0 0 0 rg BT 77.68 426.75 Td (audits. ) Tj ET Q q 0 0 0 rg BT 106.49 426.75 Td ( ) Tj ET Q q 0 0 0 rg BT 108.73 426.75 Td (W) Tj ET Q q 0 0 0 rg BT 117.37 426.75 Td (e ) Tj ET Q q 0 0 0 rg BT 124.23 426.75 Td (are ) Tj ET Q q 0 0 0 rg BT 138.86 426.75 Td (a ) Tj ET Q q 0 0 0 rg BT 145.73 426.75 Td (public ) Tj ET Q q 0 0 0 rg BT 173.15 426.75 Td (accounting ) Tj ET Q q 0 0 0 rg BT 219.44 426.75 Td (firm ) Tj ET Q q 0 0 0 rg BT 239.08 426.75 Td (registered ) Tj ET Q q 0 0 0 rg BT 280.93 426.75 Td (with ) Tj ET Q q 0 0 0 rg BT 301.13 426.75 Td (the ) Tj ET Q q 0 0 0 rg BT 315.77 426.75 Td (Public ) Tj ET Q q 0 0 0 rg BT 343.75 426.75 Td (Company ) Tj ET Q q 0 0 0 rg BT 384.52 426.75 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 433.60 426.75 Td (Oversight ) Tj ET Q q 0 0 0 rg BT 475.46 426.75 Td (Board ) Tj ET Q q 0 0 0 rg BT 502.33 426.75 Td (\(United ) Tj ET Q q 0 0 0 rg BT 535.30 426.75 Td (States\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 414.75 Td (\(PCAOB\) ) Tj ET Q q 0 0 0 rg BT 91.66 414.75 Td (and ) Tj ET Q q 0 0 0 rg BT 108.26 414.75 Td (are ) Tj ET Q q 0 0 0 rg BT 122.63 414.75 Td (required ) Tj ET Q q 0 0 0 rg BT 158.10 414.75 Td (to ) Tj ET Q q 0 0 0 rg BT 168.04 414.75 Td (be ) Tj ET Q q 0 0 0 rg BT 179.63 414.75 Td (independent ) Tj ET Q q 0 0 0 rg BT 230.66 414.75 Td (with ) Tj ET Q q 0 0 0 rg BT 250.60 414.75 Td (respect ) Tj ET Q q 0 0 0 rg BT 281.07 414.75 Td (to ) Tj ET Q q 0 0 0 rg BT 291.01 414.75 Td (the ) Tj ET Q q 0 0 0 rg BT 305.38 414.75 Td (Company ) Tj ET Q q 0 0 0 rg BT 346.43 414.75 Td (in ) Tj ET Q q 0 0 0 rg BT 356.37 414.75 Td (accordance ) Tj ET Q q 0 0 0 rg BT 403.48 414.75 Td (with ) Tj ET Q q 0 0 0 rg BT 423.42 414.75 Td (the ) Tj ET Q q 0 0 0 rg BT 437.80 414.75 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 457.74 414.75 Td (federal ) Tj ET Q q 0 0 0 rg BT 487.65 414.75 Td (securities ) Tj ET Q q 0 0 0 rg BT 527.57 414.75 Td (laws ) Tj ET Q q 0 0 0 rg BT 548.06 414.75 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 402.75 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 402.75 Td (applicable ) Tj ET Q q 0 0 0 rg BT 107.81 402.75 Td (rules ) Tj ET Q q 0 0 0 rg BT 129.74 402.75 Td (and ) Tj ET Q q 0 0 0 rg BT 146.68 402.75 Td (regulations ) Tj ET Q q 0 0 0 rg BT 193.62 402.75 Td (of ) Tj ET Q q 0 0 0 rg BT 204.45 402.75 Td (the ) Tj ET Q q 0 0 0 rg BT 219.16 402.75 Td (Securities ) Tj ET Q q 0 0 0 rg BT 261.10 402.75 Td (and ) Tj ET Q q 0 0 0 rg BT 278.04 402.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 319.96 402.75 Td (Commission ) Tj ET Q q 0 0 0 rg BT 373.03 402.75 Td (and ) Tj ET Q q 0 0 0 rg BT 389.96 402.75 Td (the ) Tj ET Q q 0 0 0 rg BT 404.68 402.75 Td (PCAOB.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.75 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 378.75 Td (e ) Tj ET Q q 0 0 0 rg BT 65.04 378.75 Td (conducted ) Tj ET Q q 0 0 0 rg BT 108.59 378.75 Td (our ) Tj ET Q q 0 0 0 rg BT 124.38 378.75 Td (audits ) Tj ET Q q 0 0 0 rg BT 150.73 378.75 Td (in ) Tj ET Q q 0 0 0 rg BT 160.96 378.75 Td (accordance ) Tj ET Q q 0 0 0 rg BT 208.39 378.75 Td (with ) Tj ET Q q 0 0 0 rg BT 228.62 378.75 Td (the ) Tj ET Q q 0 0 0 rg BT 243.30 378.75 Td (standards ) Tj ET Q q 0 0 0 rg BT 283.53 378.75 Td (of ) Tj ET Q q 0 0 0 rg BT 294.32 378.75 Td (the ) Tj ET Q q 0 0 0 rg BT 309.00 378.75 Td (PCAOB. ) Tj ET Q q 0 0 0 rg BT 347.30 378.75 Td ( ) Tj ET Q q 0 0 0 rg BT 349.58 378.75 Td (Those ) Tj ET Q q 0 0 0 rg BT 376.48 378.75 Td (standards ) Tj ET Q q 0 0 0 rg BT 416.71 378.75 Td (require ) Tj ET Q q 0 0 0 rg BT 447.48 378.75 Td (that ) Tj ET Q q 0 0 0 rg BT 464.94 378.75 Td (we ) Tj ET Q q 0 0 0 rg BT 479.06 378.75 Td (plan ) Tj ET Q q 0 0 0 rg BT 498.74 378.75 Td (and ) Tj ET Q q 0 0 0 rg BT 515.64 378.75 Td (perform ) Tj ET Q q 0 0 0 rg BT 550.30 378.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.75 Td (audits ) Tj ET Q q 0 0 0 rg BT 74.89 366.75 Td (to ) Tj ET Q q 0 0 0 rg BT 84.17 366.75 Td (obtain ) Tj ET Q q 0 0 0 rg BT 110.67 366.75 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 154.93 366.75 Td (assurance ) Tj ET Q q 0 0 0 rg BT 195.30 366.75 Td (about ) Tj ET Q q 0 0 0 rg BT 219.02 366.75 Td (whether ) Tj ET Q q 0 0 0 rg BT 252.73 366.75 Td (the ) Tj ET Q q 0 0 0 rg BT 266.45 366.75 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 318.49 366.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 354.97 366.75 Td (statements ) Tj ET Q q 0 0 0 rg BT 398.69 366.75 Td (are ) Tj ET Q q 0 0 0 rg BT 412.40 366.75 Td (free ) Tj ET Q q 0 0 0 rg BT 429.44 366.75 Td (of ) Tj ET Q q 0 0 0 rg BT 439.27 366.75 Td (material ) Tj ET Q q 0 0 0 rg BT 473.53 366.75 Td (misstatement, ) Tj ET Q q 0 0 0 rg BT 530.30 366.75 Td (whether ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.75 Td (due ) Tj ET Q q 0 0 0 rg BT 66.44 354.75 Td (to ) Tj ET Q q 0 0 0 rg BT 76.72 354.75 Td (error ) Tj ET Q q 0 0 0 rg BT 98.65 354.75 Td (or ) Tj ET Q q 0 0 0 rg BT 109.48 354.75 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 135.57 354.75 Td (and ) Tj ET Q q 0 0 0 rg BT 152.51 354.75 Td (whether ) Tj ET Q q 0 0 0 rg BT 187.22 354.75 Td (ef) Tj ET Q q 0 0 0 rg BT 194.81 354.75 Td (fective ) Tj ET Q q 0 0 0 rg BT 224.51 354.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 257.55 354.75 Td (control ) Tj ET Q q 0 0 0 rg BT 288.38 354.75 Td (over ) Tj ET Q q 0 0 0 rg BT 308.65 354.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 346.13 354.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 385.28 354.75 Td (was ) Tj ET Q q 0 0 0 rg BT 403.33 354.75 Td (maintained ) Tj ET Q q 0 0 0 rg BT 450.26 354.75 Td (in ) Tj ET Q q 0 0 0 rg BT 460.54 354.75 Td (all ) Tj ET Q q 0 0 0 rg BT 473.04 354.75 Td (material ) Tj ET Q q 0 0 0 rg BT 508.29 354.75 Td (respects. ) Tj ET Q q 0 0 0 rg BT 545.50 354.75 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 67.85 330.75 Td (audits ) Tj ET Q q 0 0 0 rg BT 94.54 330.75 Td (of ) Tj ET Q q 0 0 0 rg BT 105.67 330.75 Td (the ) Tj ET Q q 0 0 0 rg BT 120.69 330.75 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 174.03 330.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 211.81 330.75 Td (statements ) Tj ET Q q 0 0 0 rg BT 256.82 330.75 Td (included ) Tj ET Q q 0 0 0 rg BT 294.06 330.75 Td (performing ) Tj ET Q q 0 0 0 rg BT 341.84 330.75 Td (procedures ) Tj ET Q q 0 0 0 rg BT 388.51 330.75 Td (to ) Tj ET Q q 0 0 0 rg BT 399.09 330.75 Td (assess ) Tj ET Q q 0 0 0 rg BT 426.33 330.75 Td (the ) Tj ET Q q 0 0 0 rg BT 441.35 330.75 Td (risks ) Tj ET Q q 0 0 0 rg BT 463.04 330.75 Td (of ) Tj ET Q q 0 0 0 rg BT 474.17 330.75 Td (material ) Tj ET Q q 0 0 0 rg BT 509.73 330.75 Td (misstatement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.75 Td (of ) Tj ET Q q 0 0 0 rg BT 60.95 318.75 Td (the ) Tj ET Q q 0 0 0 rg BT 76.29 318.75 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 129.96 318.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 168.07 318.75 Td (statements, ) Tj ET Q q 0 0 0 rg BT 215.90 318.75 Td (whether ) Tj ET Q q 0 0 0 rg BT 251.23 318.75 Td (due ) Tj ET Q q 0 0 0 rg BT 268.79 318.75 Td (to ) Tj ET Q q 0 0 0 rg BT 279.70 318.75 Td (error ) Tj ET Q q 0 0 0 rg BT 302.25 318.75 Td (or ) Tj ET Q q 0 0 0 rg BT 313.70 318.75 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 340.43 318.75 Td (and ) Tj ET Q q 0 0 0 rg BT 357.99 318.75 Td (performing ) Tj ET Q q 0 0 0 rg BT 406.10 318.75 Td (procedures ) Tj ET Q q 0 0 0 rg BT 453.09 318.75 Td (that ) Tj ET Q q 0 0 0 rg BT 471.21 318.75 Td (respond ) Tj ET Q q 0 0 0 rg BT 505.99 318.75 Td (to ) Tj ET Q q 0 0 0 rg BT 516.90 318.75 Td (those ) Tj ET Q q 0 0 0 rg BT 541.13 318.75 Td (risks. ) Tj ET Q q 0 0 0 rg BT 565.02 318.75 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (Such ) Tj ET Q q 0 0 0 rg BT 71.55 306.75 Td (procedures ) Tj ET Q q 0 0 0 rg BT 117.46 306.75 Td (included ) Tj ET Q q 0 0 0 rg BT 153.95 306.75 Td (examining, ) Tj ET Q q 0 0 0 rg BT 200.71 306.75 Td (on ) Tj ET Q q 0 0 0 rg BT 212.75 306.75 Td (a ) Tj ET Q q 0 0 0 rg BT 219.24 306.75 Td (test ) Tj ET Q q 0 0 0 rg BT 235.18 306.75 Td (basis, ) Tj ET Q q 0 0 0 rg BT 259.72 306.75 Td (evidence ) Tj ET Q q 0 0 0 rg BT 297.31 306.75 Td (regarding ) Tj ET Q q 0 0 0 rg BT 337.67 306.75 Td (the ) Tj ET Q q 0 0 0 rg BT 351.93 306.75 Td (amounts ) Tj ET Q q 0 0 0 rg BT 387.87 306.75 Td (and ) Tj ET Q q 0 0 0 rg BT 404.36 306.75 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 450.84 306.75 Td (in ) Tj ET Q q 0 0 0 rg BT 460.67 306.75 Td (the ) Tj ET Q q 0 0 0 rg BT 474.93 306.75 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 527.52 306.75 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 294.75 Td (statements. ) Tj ET Q q 0 0 0 rg BT 96.94 294.75 Td ( ) Tj ET Q q 0 0 0 rg BT 99.68 294.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 117.96 294.75 Td (audits ) Tj ET Q q 0 0 0 rg BT 144.58 294.75 Td (also ) Tj ET Q q 0 0 0 rg BT 163.42 294.75 Td (included ) Tj ET Q q 0 0 0 rg BT 200.58 294.75 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 244.97 294.75 Td (the ) Tj ET Q q 0 0 0 rg BT 259.92 294.75 Td (accounting ) Tj ET Q q 0 0 0 rg BT 306.52 294.75 Td (principles ) Tj ET Q q 0 0 0 rg BT 348.68 294.75 Td (used ) Tj ET Q q 0 0 0 rg BT 369.75 294.75 Td (and ) Tj ET Q q 0 0 0 rg BT 386.92 294.75 Td (significant ) Tj ET Q q 0 0 0 rg BT 431.86 294.75 Td (estimates ) Tj ET Q q 0 0 0 rg BT 471.80 294.75 Td (made ) Tj ET Q q 0 0 0 rg BT 496.19 294.75 Td (by ) Tj ET Q q 0 0 0 rg BT 508.92 294.75 Td (management, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 282.75 Td (as ) Tj ET Q q 0 0 0 rg BT 60.06 282.75 Td (well ) Tj ET Q q 0 0 0 rg BT 79.50 282.75 Td (as ) Tj ET Q q 0 0 0 rg BT 90.06 282.75 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 133.94 282.75 Td (the ) Tj ET Q q 0 0 0 rg BT 148.39 282.75 Td (overall ) Tj ET Q q 0 0 0 rg BT 178.38 282.75 Td (presentation ) Tj ET Q q 0 0 0 rg BT 229.48 282.75 Td (of ) Tj ET Q q 0 0 0 rg BT 240.04 282.75 Td (the ) Tj ET Q q 0 0 0 rg BT 254.49 282.75 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 307.26 282.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 344.47 282.75 Td (statements. ) Tj ET Q q 0 0 0 rg BT 391.41 282.75 Td ( ) Tj ET Q q 0 0 0 rg BT 393.64 282.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 411.42 282.75 Td (audit ) Tj ET Q q 0 0 0 rg BT 433.64 282.75 Td (of ) Tj ET Q q 0 0 0 rg BT 444.20 282.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 476.97 282.75 Td (control ) Tj ET Q q 0 0 0 rg BT 507.53 282.75 Td (over ) Tj ET Q q 0 0 0 rg BT 527.52 282.75 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 87.57 270.75 Td (included ) Tj ET Q q 0 0 0 rg BT 123.41 270.75 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 162.60 270.75 Td (an ) Tj ET Q q 0 0 0 rg BT 173.45 270.75 Td (understanding ) Tj ET Q q 0 0 0 rg BT 231.51 270.75 Td (of ) Tj ET Q q 0 0 0 rg BT 241.25 270.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 273.21 270.75 Td (control ) Tj ET Q q 0 0 0 rg BT 302.94 270.75 Td (over ) Tj ET Q q 0 0 0 rg BT 322.12 270.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 358.51 270.75 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 399.08 270.75 Td (assessing ) Tj ET Q q 0 0 0 rg BT 437.71 270.75 Td (the ) Tj ET Q q 0 0 0 rg BT 451.34 270.75 Td (risk ) Tj ET Q q 0 0 0 rg BT 467.75 270.75 Td (that ) Tj ET Q q 0 0 0 rg BT 484.16 270.75 Td (a ) Tj ET Q q 0 0 0 rg BT 490.01 270.75 Td (material ) Tj ET Q q 0 0 0 rg BT 524.18 270.75 Td (weakness ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 258.75 Td (exists, ) Tj ET Q q 0 0 0 rg BT 77.03 258.75 Td (and ) Tj ET Q q 0 0 0 rg BT 93.72 258.75 Td (testing ) Tj ET Q q 0 0 0 rg BT 122.63 258.75 Td (and ) Tj ET Q q 0 0 0 rg BT 139.32 258.75 Td (evaluating ) Tj ET Q q 0 0 0 rg BT 183.22 258.75 Td (the ) Tj ET Q q 0 0 0 rg BT 197.69 258.75 Td (design ) Tj ET Q q 0 0 0 rg BT 226.05 258.75 Td (and ) Tj ET Q q 0 0 0 rg BT 242.73 258.75 Td (operating ) Tj ET Q q 0 0 0 rg BT 282.75 258.75 Td 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Tj ET Q endstream endobj 131 0 obj <> endobj 132 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 726.60 Td (Because ) Tj ET Q q 0 0 0 rg BT 86.56 726.60 Td (of ) Tj ET Q q 0 0 0 rg BT 98.64 726.60 Td (its ) Tj ET Q q 0 0 0 rg BT 111.83 726.60 Td (inherent ) Tj ET Q q 0 0 0 rg BT 148.34 726.60 Td (limitations, ) Tj ET Q q 0 0 0 rg BT 197.37 726.60 Td (internal ) Tj ET Q q 0 0 0 rg BT 231.66 726.60 Td (control ) Tj ET Q q 0 0 0 rg BT 263.73 726.60 Td (over ) Tj ET Q q 0 0 0 rg BT 285.24 726.60 Td (financial ) Tj ET Q q 0 0 0 rg BT 323.97 726.60 Td (reporting ) Tj ET Q q 0 0 0 rg BT 364.37 726.60 Td (may ) Tj ET Q q 0 0 0 rg BT 385.34 726.60 Td (not ) Tj ET Q q 0 0 0 rg BT 401.86 726.60 Td (prevent ) Tj ET Q q 0 0 0 rg BT 435.59 726.60 Td (or ) Tj ET Q q 0 0 0 rg BT 447.67 726.60 Td (detect ) Tj ET Q q 0 0 0 rg BT 475.29 726.60 Td (misstatements. ) Tj ET Q q 0 0 0 rg BT 538.20 726.60 Td ( ) Tj ET Q q 0 0 0 rg BT 541.11 726.60 Td (Also, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 714.60 Td (projections ) Tj ET Q q 0 0 0 rg BT 95.87 714.60 Td (of ) Tj ET Q q 0 0 0 rg BT 106.13 714.60 Td (any ) Tj ET Q q 0 0 0 rg BT 122.50 714.60 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 166.08 714.60 Td (of ) Tj ET Q q 0 0 0 rg BT 176.35 714.60 Td (ef) Tj ET Q q 0 0 0 rg BT 183.93 714.60 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 230.29 714.60 Td (to ) Tj ET Q q 0 0 0 rg BT 240.00 714.60 Td (future ) Tj ET Q q 0 0 0 rg BT 265.81 714.60 Td (periods ) Tj ET Q q 0 0 0 rg BT 297.18 714.60 Td (are ) Tj ET Q q 0 0 0 rg BT 311.32 714.60 Td (subject ) Tj ET Q q 0 0 0 rg BT 341.58 714.60 Td (to ) Tj ET Q q 0 0 0 rg BT 351.29 714.60 Td (the ) Tj ET Q q 0 0 0 rg BT 365.44 714.60 Td (risk ) Tj ET Q q 0 0 0 rg BT 382.37 714.60 Td (that ) Tj ET Q q 0 0 0 rg BT 399.30 714.60 Td (controls ) Tj ET Q q 0 0 0 rg BT 433.45 714.60 Td (may ) Tj ET Q q 0 0 0 rg BT 452.60 714.60 Td (become ) Tj ET Q q 0 0 0 rg BT 485.63 714.60 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 530.87 714.60 Td (because ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 702.60 Td (changes ) Tj ET Q q 0 0 0 rg BT 95.04 702.60 Td (in ) Tj ET Q q 0 0 0 rg BT 105.32 702.60 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 151.98 702.60 Td (or ) Tj ET Q q 0 0 0 rg BT 162.81 702.60 Td (that ) Tj ET Q q 0 0 0 rg BT 180.31 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 195.02 702.60 Td (degree ) Tj ET Q q 0 0 0 rg BT 224.17 702.60 Td (of ) Tj ET Q q 0 0 0 rg BT 235.00 702.60 Td (compliance ) Tj ET Q q 0 0 0 rg BT 283.59 702.60 Td (with ) Tj ET Q q 0 0 0 rg BT 303.87 702.60 Td (the ) Tj ET Q q 0 0 0 rg BT 318.58 702.60 Td (policies ) Tj ET Q q 0 0 0 rg BT 352.19 702.60 Td (or ) Tj ET Q q 0 0 0 rg BT 363.02 702.60 Td (procedures ) Tj ET Q q 0 0 0 rg BT 409.38 702.60 Td (may ) Tj ET Q q 0 0 0 rg BT 429.10 702.60 Td (deteriorate.) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 49.5 665.2669921875 m 180.955078125 665.2669921875 l s q 0 0 0 rg BT 49.50 666.60 Td (/s/ PricewaterhouseCoopers LLP) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 654.60 Td (Dallas, ) Tj ET Q q 0 0 0 rg BT 79.87 654.60 Td (T) Tj ET Q q 0 0 0 rg BT 85.28 654.60 Td (exas) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 642.60 Td (February�28, 2019) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.60 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 618.60 Td (e have served as the Company�) Tj ET Q q 0 0 0 rg BT 182.26 618.60 Td (s auditor since 2004.) 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q 0 0 0 rg BT 63.50 408.45 Td (Oil and gas production payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.80 408.45 Td (61,288) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 408.45 Td (76,588) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 395.75 Td (Derivative liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.80 395.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 395.75 Td (99,061) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 382.75 Td (Current maturities of long-term debt \(including future interest payable of $85,303 and $75,347, respectively �) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 374.75 Td (see Note 6\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.80 374.75 Td (105,125) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 374.75 Td (105,188) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.50 362.45 Td (T) Tj ET Q q 0 0 0 rg BT 80.11 362.45 Td (otal current liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.80 362.45 Td (364,793) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 362.45 Td (458,057) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 350.58 Td (Long-term liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.50 350.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.50 350.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 337.75 Td (Long-term debt, net of current portion \(including future interest payable of $164,914 and $241,472, respectively) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 329.75 Td (� see Note 6\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.80 329.75 Td (2,664,21) Tj ET Q q 0 0 0 rg BT 485.80 329.75 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.80 329.75 Td (2,979,086) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 317.45 Td (Asset retirement obligations) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.80 317.45 Td (174,470) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 317.45 Td (165,756) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 305.45 Td (Deferred tax liabilities, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.80 305.45 Td (309,758) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 305.45 Td (198,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 293.45 Td (Other liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.80 293.45 Td (68,213) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.80 293.45 Td (22,136) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.50 281.45 Td (T) Tj ET Q q 0 0 0 rg BT 80.11 281.45 Td (otal long-term liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.80 281.45 Td (3,216,652) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.80 281.45 Td (3,365,077) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 269.58 Td (Commitments and contingencies \(Note 12\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 51.50 257.58 Td (Stockholders�) Tj ET Q q 0 0 0 rg BT 98.02 257.58 Td ( equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.50 257.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.50 257.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 245.45 Td (Preferred stock, $.001 par value, 25,000,000 shares authorized, none issued and outstanding) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.80 245.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.80 245.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 232.75 Td (Common stock, $.001 par value, 600,000,000 shares authorized; 462,355,725 and 402,549,346 shares issued,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 72.50 224.75 Td (respectively) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 477.80 224.75 Td (462) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 546.80 224.75 Td (403) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 212.45 Td (Paid-in capital in excess of par) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.80 212.45 Td (2,685,21) Tj ET Q q 0 0 0 rg BT 485.80 212.45 Td (1) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.80 212.45 Td (2,507,828) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 200.45 Td (Accumulated deficit) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 455.10 200.45 Td (\(1,533,1) Tj ET Q q 0 0 0 rg BT 481.76 200.45 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 200.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 524.10 200.45 Td (\(1,855,810) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 200.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 63.50 188.45 Td (T) Tj ET Q q 0 0 0 rg BT 68.11 188.45 Td (reasury stock, at cost, 1,941,749 and 457,041 shares, respectively) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 465.10 188.45 Td (\(10,784) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.80 188.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 538.10 188.45 Td (\(4,256) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.80 188.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 75.50 176.45 Td (T) Tj ET Q q 0 0 0 rg BT 79.83 176.45 Td (otal stockholders�) Tj ET Q q 0 0 0 rg BT 136.33 176.45 Td ( equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.80 176.45 Td (1,141,777) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.80 176.45 Td (648,165) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 75.50 164.58 Td (T) Tj ET Q q 0 0 0 rg BT 80.10 164.58 Td (otal liabilities and stockholders�) Tj ET Q q 0 0 0 rg BT 188.18 164.58 Td ( equity) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.50 164.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.80 164.45 Td (4,723,222) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.50 164.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.80 164.45 Td (4,471,299) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.35 143.00 Td (See accompanying Notes to Consolidated Financial Statements.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 222.50 748.75 Td (Consolidated Statements of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.65 736.75 Td (\(In thousands, except per share data\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (67) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 693.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 693.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 693.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 693.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 693.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 693.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 667.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 667.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 667.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 667.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 667.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 667.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 641.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 641.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 641.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 641.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 641.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 641.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 615.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 615.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 615.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 615.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 615.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 615.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 589.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 589.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 589.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 589.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 589.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 589.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 563.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 563.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 563.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 563.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 563.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 563.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 537.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 537.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 537.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 537.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 537.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 537.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 511.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 511.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 511.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 511.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 511.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 511.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 485.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 485.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 485.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 485.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 485.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 485.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 459.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 459.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 459.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 459.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 459.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 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0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 706.5 m 427.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 706.5 m 492.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 706.5 m 496.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 706.5 m 561.5 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 693.5 m 423.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 693.5 m 492.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 693.5 m 561.5 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 641.5 m 423.5 641.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 641.5 m 492.5 641.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 641.5 m 561.5 641.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 628.5 m 423.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 628.5 m 492.5 628.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 628.5 m 561.5 628.5 l s 0 0 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0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 421.5 m 492.5 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 419.5 m 492.5 419.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 433.5 m 561.5 433.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 421.5 m 561.5 421.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 419.5 m 561.5 419.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 710.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.45 710.75 Td (Y) Tj ET Q q 0 0 0 rg BT 422.83 710.75 Td (ear Ended December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 697.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.50 697.75 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 697.75 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.50 697.75 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 684.73 Td (Revenues and other) Tj ET Q q 0 0 0 rg BT 119.48 684.73 Td ( income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 684.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 684.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 684.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 671.75 Td (Oil, natural gas, and related product sales) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 671.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.30 671.75 Td (1,422,589) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 671.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.30 671.75 Td (1,089,666) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 671.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 671.75 Td (935,751) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 658.75 Td (CO) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 75.11 657.61 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.71 658.75 Td ( sales and transportation fees) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 658.75 Td (31,145) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 658.75 Td (26,182) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 658.75 Td (24,816) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 645.75 Td (Other income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 645.75 Td (19,891) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 645.75 Td (13,938) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 645.75 Td (15,029) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 76.00 632.75 Td (T) Tj ET Q q 0 0 0 rg BT 80.61 632.75 Td (otal revenues and other income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.30 632.75 Td (1,473,625) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.30 632.75 Td (1,129,786) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 632.75 Td (975,596) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 619.73 Td (Expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.00 619.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.00 619.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.00 619.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 606.75 Td (Lease operating expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 606.75 Td (489,720) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 606.75 Td (447,799) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 606.75 Td (414,937) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 593.75 Td (Marketing and plant operating expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 593.75 Td (50,002) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 593.75 Td (51,820) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 593.75 Td (57,454) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 580.75 Td (CO) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 75.11 579.61 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.71 580.75 Td ( discovery and operating expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.30 580.75 Td (2,816) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.30 580.75 Td (3,099) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 540.30 580.75 Td (3,374) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 567.75 Td (T) Tj ET Q q 0 0 0 rg BT 68.61 567.75 Td (axes other than income) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 567.75 Td (104,670) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 567.75 Td (87,207) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 567.75 Td (77,892) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 554.75 Td (General and administrative expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 554.75 Td (71,495) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 554.75 Td (101,806) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 554.75 Td (109,926) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 541.75 Td (Interest, net of amounts capitalized of $37,079, $30,762, and $25,982, respectively) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 541.75 Td (69,688) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 541.75 Td (99,263) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 541.75 Td (125,145) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 528.75 Td (Depletion, depreciation, and amortization) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 528.75 Td (216,449) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 528.75 Td (207,713) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 528.75 Td (846,043) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 515.75 Td (Commodity derivatives expense \(income\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.60 515.75 Td (\(21,087) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 515.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 515.75 Td (77,576) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 515.75 Td (127,944) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 502.75 Td (Gain on debt extinguishment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 502.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 502.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 502.75 Td (\(1) Tj ET Q q 0 0 0 rg BT 536.26 502.75 Td (15,095) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 502.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 489.75 Td (W) Tj ET Q q 0 0 0 rg BT 71.39 489.75 Td (rite-down of oil and natural gas properties) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 489.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 489.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 489.75 Td (810,921) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 476.75 Td (Other expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 476.75 Td (79,941) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.30 476.75 Td (7,003) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 476.75 Td (37,402) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 76.00 463.75 Td (T) Tj ET Q q 0 0 0 rg BT 80.33 463.75 Td (otal expenses) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.30 463.75 Td (1,063,694) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.30 463.75 Td (1,083,286) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 463.75 Td (2,495,943) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 450.73 Td (Income \(loss\) befor) Tj ET Q q 0 0 0 rg BT 117.25 450.73 Td (e income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 450.75 Td (409,931) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 450.75 Td (46,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.60 450.75 Td (\(1,520,347) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 450.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 437.75 Td (Income tax provision \(benefit\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 437.75 Td (87,233) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.60 437.75 Td (\(1) Tj ET Q q 0 0 0 rg BT 467.26 437.75 Td (16,652) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 437.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 437.75 Td (\(544,170) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 437.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 424.73 Td (Net income \(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 424.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 424.75 Td (322,698) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 424.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 424.75 Td (163,152) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 424.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 424.75 Td (\(976,177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 424.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 396.73 Td (Net income \(loss\) per) Tj ET Q q 0 0 0 rg BT 123.69 396.73 Td ( common shar) Tj ET Q q 0 0 0 rg BT 171.98 396.73 Td (e) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 383.75 Td (Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 383.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 383.75 Td (0.75) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 383.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.30 383.75 Td (0.42) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 383.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 383.75 Td (\(2.61) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 383.75 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 370.75 Td (Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 370.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 406.30 370.75 Td (0.71) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 370.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.30 370.75 Td (0.41) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 370.75 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 541.60 370.75 Td (\(2.61) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 370.75 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 342.73 Td (W) Tj ET Q q 0 0 0 rg BT 59.56 342.73 Td (eighted average common shar) Tj ET Q q 0 0 0 rg BT 161.39 342.73 Td (es outstanding) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.00 342.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.00 342.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.00 342.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 329.75 Td (Basic) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 329.75 Td (432,483) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 329.75 Td (390,928) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 329.75 Td (373,859) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 316.75 Td (Diluted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 316.75 Td (456,169) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 316.75 Td (395,921) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 316.75 Td (373,859) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.35 295.00 Td (See accompanying Notes to Consolidated Financial Statements.) 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 221.80 748.75 Td (Consolidated Statements of Cash Flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.25 736.75 Td (\(In thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (68) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 695.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 695.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 695.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 695.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 695.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 695.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 671.50 309.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 671.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 671.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 671.50 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 671.50 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 671.50 65.00 -13.00 re f /GS0 gs 0.8 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gs 0.8 0.8 0.8 rg /GS0 gs 423.50 526.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 526.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 526.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 526.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 502.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 502.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 502.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 502.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 502.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 502.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 478.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 478.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 478.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 478.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 478.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 478.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 454.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 454.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 454.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 454.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 454.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 454.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 430.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 430.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 430.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 430.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 430.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 430.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 406.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 406.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 406.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 406.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 406.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 406.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 382.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 382.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 382.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 382.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 382.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 382.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 358.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 358.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 358.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 358.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 358.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 358.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 334.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 334.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 334.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 334.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 334.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 334.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 310.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 310.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 310.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 310.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 310.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 310.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 286.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 286.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 286.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 286.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 286.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 286.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 262.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 262.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 262.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 262.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 262.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 262.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 238.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 238.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 238.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 238.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 238.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 238.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 214.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 214.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 214.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 214.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 214.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 214.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.50 190.50 309.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 190.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 423.50 190.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 427.50 190.50 65.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 492.50 190.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 496.50 190.50 65.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 707.5 m 423.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 423.5 707.5 m 427.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 707.5 m 492.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 492.5 707.5 m 496.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 707.5 m 561.5 707.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 695.5 m 423.5 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 695.5 m 492.5 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 695.5 m 561.5 695.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 466.5 m 423.5 466.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 466.5 m 492.5 466.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 466.5 m 561.5 466.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 454.5 m 423.5 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 454.5 m 492.5 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 454.5 m 561.5 454.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 358.5 m 423.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 358.5 m 492.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 358.5 m 561.5 358.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 346.5 m 423.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 346.5 m 492.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 346.5 m 561.5 346.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 226.5 m 423.5 226.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 226.5 m 492.5 226.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 226.5 m 561.5 226.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 214.5 m 423.5 214.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 214.5 m 492.5 214.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 214.5 m 561.5 214.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 190.5 m 423.5 190.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 190.5 m 492.5 190.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 190.5 m 561.5 190.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 179.5 m 423.5 179.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 177.5 m 423.5 177.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 179.5 m 492.5 179.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 427.5 177.5 m 492.5 177.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 179.5 m 561.5 179.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 496.5 177.5 m 561.5 177.5 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 711.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 417.45 711.45 Td (Y) Tj ET Q q 0 0 0 rg BT 422.83 711.45 Td (ear Ended December 31,) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 699.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.50 699.45 Td (2018) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 451.50 699.45 Td (2017) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.50 699.45 Td (2016) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 687.58 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 97.26 687.58 Td (om operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 687.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 687.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 687.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 675.45 Td (Net income \(loss\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 675.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 675.45 Td (322,698) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 675.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 675.45 Td (163,152) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 675.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 675.45 Td (\(976,177) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 675.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 662.75 Td (Adjustments to reconcile net income \(loss\) to cash flows from operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.00 662.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.00 662.75 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 650.45 Td (Depletion, depreciation, and amortization) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 650.45 Td (216,449) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 650.45 Td (207,713) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 650.45 Td (846,043) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 638.45 Td (W) Tj ET Q q 0 0 0 rg BT 71.39 638.45 Td (rite-down of oil and natural gas properties) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 638.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 638.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 638.45 Td (810,921) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 626.45 Td (Deferred income taxes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 626.45 Td (103,234) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 626.45 Td (\(95,779) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 626.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 626.45 Td (\(543,385) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 626.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 614.45 Td (Stock-based compensation) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 614.45 Td (1) Tj ET Q q 0 0 0 rg BT 402.30 614.45 Td (1,951) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 614.45 Td (15,154) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 614.45 Td (14,995) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 602.45 Td (Commodity derivatives expense \(income\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.60 602.45 Td (\(21,087) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 602.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 602.45 Td (77,576) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 602.45 Td (127,944) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 590.45 Td (Receipt \(payment\) on settlements of commodity derivatives) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.60 590.45 Td (\(175,248) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 590.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 590.45 Td (\(47,795) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 590.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 590.45 Td (84,181) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 578.45 Td (Gain on debt extinguishment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 578.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 578.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 578.45 Td (\(1) Tj ET Q q 0 0 0 rg BT 536.26 578.45 Td (15,095) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 578.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 566.45 Td (Debt issuance costs and discounts) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.30 566.45 Td (6,246) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.30 566.45 Td (6,191) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 566.45 Td (17,006) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 554.45 Td (Other) Tj ET Q q 0 0 0 rg BT 82.05 554.45 Td (, net) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.60 554.45 Td (\(4,725) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 554.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.30 554.45 Td (3,1) Tj ET Q q 0 0 0 rg BT 481.30 554.45 Td (12) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 554.45 Td (\(2,161) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 554.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 58.00 542.45 Td (Changes in assets and liabilities, net of ef) Tj ET Q q 0 0 0 rg BT 190.27 542.45 Td (fects from acquisitions) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.00 542.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.00 542.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.00 542.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 530.45 Td (Accrued production receivable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 530.45 Td (20,547) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 530.45 Td (\(21,398) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 530.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 530.45 Td (\(24,290) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 530.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 518.45 Td (T) Tj ET Q q 0 0 0 rg BT 68.75 518.45 Td (rade and other receivables) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 518.45 Td (16,094) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 518.45 Td (\(4,421) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 518.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 518.45 Td (35,923) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 506.45 Td (Other current and long-term assets) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.60 506.45 Td (\(6,827) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 506.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 506.45 Td (\(1,722) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 506.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 506.45 Td (\(8,661) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 506.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 494.45 Td (Accounts payable and accrued liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 494.45 Td (13,008) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 494.45 Td (\(24,710) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 494.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 494.45 Td (\(34,240) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 494.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 482.45 Td (Oil and natural gas production payable) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.60 482.45 Td (\(15,300) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 482.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 482.45 Td (\(3,997) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 482.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 482.45 Td (\(6,752) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 482.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 470.45 Td (Other liabilities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 470.45 Td (42,645) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 470.45 Td (\(5,933) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 470.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 470.45 Td (\(7,029) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 470.45 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 458.58 Td (Net cash pr) Tj ET Q q 0 0 0 rg BT 91.03 458.58 Td (ovided by operating activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 458.45 Td (529,685) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.30 458.45 Td (267,143) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 532.30 458.45 Td (219,223) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 434.58 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 97.26 434.58 Td (om investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.00 434.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.00 434.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.00 434.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 422.45 Td (Oil and natural gas capital expenditures) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.60 422.45 Td (\(316,647) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 422.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.60 422.45 Td (\(262,867) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 422.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 422.45 Td (\(243,027) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 422.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 410.45 Td (Acquisitions of oil and natural gas properties) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 405.60 410.45 Td (\(541) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 410.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 410.45 Td (\(88,886) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 410.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 410.45 Td (\(1,310) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 410.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 398.45 Td (CO) Tj ET Q BT /F1 8.00 Tf ET BT /F1 5.20 Tf ET q 0 0 0 rg BT 75.11 397.31 Td (2) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 77.71 398.45 Td ( capital expenditures) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 399.60 398.45 Td (\(5,878) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 398.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 398.45 Td (\(2,159) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 398.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 398.45 Td (\(2,321) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 398.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 386.45 Td (Pipelines and plants capital expenditures) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.60 386.45 Td (\(23,108) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 386.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 386.45 Td (\(2,540) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 386.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 386.45 Td (\(2,666) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 386.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 374.45 Td (Net proceeds from sales of oil and natural gas properties and equipment) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.30 374.45 Td (7,762) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.30 374.45 Td (1,696) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 374.45 Td (47,725) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 362.45 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 402.30 362.45 Td (5,136) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 362.45 Td (\(2,058) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 362.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 362.45 Td (\(3,064) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 362.45 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 350.58 Td (Net cash used in investing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.60 350.45 Td (\(333,276) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 350.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 460.60 350.45 Td (\(356,814) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 350.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 529.60 350.45 Td (\(204,663) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 350.45 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 326.58 Td (Cash flows fr) Tj ET Q q 0 0 0 rg BT 97.26 326.58 Td (om financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.00 326.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.00 326.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.00 326.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 314.45 Td (Bank repayments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 385.60 314.45 Td (\(1,982,653) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 314.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 454.60 314.45 Td (\(1,589,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 314.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 523.60 314.45 Td (\(1,730,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 314.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 302.45 Td (Bank borrowings) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 388.30 302.45 Td (1,507,653) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 457.30 302.45 Td (1,763,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 526.30 302.45 Td (1,856,500) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 290.45 Td (Interest payments treated as a reduction of debt) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.60 290.45 Td (\(79,606) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 290.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 290.45 Td (\(50,349) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 290.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 290.45 Td (\(25,835) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 290.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 278.45 Td (Proceeds from issuance of senior secured notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 394.30 278.45 Td (450,000) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 481.30 278.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 550.30 278.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 266.45 Td (Repayment or repurchases of senior subordinated notes) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 412.30 266.45 Td (�) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 266.45 Td (\(2,503) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 266.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 266.45 Td (\(76,708) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 266.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 254.45 Td (Cost of debt financing) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.60 254.45 Td (\(16,060) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 254.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 254.45 Td (\(6,289) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 254.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 537.60 254.45 Td (\(9,574) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 254.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 242.45 Td (Pipeline financing and capital lease debt repayments) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.60 242.45 Td (\(23,300) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 242.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 464.60 242.45 Td (\(27,462) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 242.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 242.45 Td (\(28,849) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 242.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 64.00 230.45 Td (Other) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 395.60 230.45 Td (\(13,486) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 230.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 471.30 230.45 Td (1,216) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 547.60 230.45 Td (\(46) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 230.45 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 218.58 Td (Net cash pr) Tj ET Q q 0 0 0 rg BT 91.03 218.58 Td (ovided by \(used in\) financing activities) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 391.60 218.45 Td (\(157,452) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 420.30 218.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 218.45 Td (88,613) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 533.60 218.45 Td (\(15,012) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 218.45 Td (\)) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 206.58 Td (Net incr) Tj ET Q q 0 0 0 rg BT 79.69 206.58 Td (ease \(decr) Tj ET Q q 0 0 0 rg BT 113.53 206.58 Td (ease\) in cash, cash equivalents, and r) Tj ET Q q 0 0 0 rg BT 238.28 206.58 Td (estricted cash) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 206.45 Td (38,957) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 468.60 206.45 Td (\(1,058) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 489.30 206.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 543.60 206.45 Td (\(452) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 558.30 206.45 Td (\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 52.00 194.45 Td (Cash, cash equivalents, and restricted cash at beginning of year) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 194.45 Td (15,992) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 194.45 Td (17,050) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 194.45 Td (17,502) Tj ET Q BT /F2 8.00 Tf ET q 0 0 0 rg BT 52.00 182.58 Td (Cash, cash equivalents, and r) Tj ET Q q 0 0 0 rg BT 151.43 182.58 Td (estricted cash at end of year) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 361.00 182.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 398.30 182.45 Td (54,949) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 430.00 182.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 467.30 182.45 Td (15,992) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 499.00 182.45 Td ($) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 536.30 182.45 Td (17,050) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.10 155.00 Td (�See accompanying Notes to Consolidated Financial Statements.) 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f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 664.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 664.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 664.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 633.50 149.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 633.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 633.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 633.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 633.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 633.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 633.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 633.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 633.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 633.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 633.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 633.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 633.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 633.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 633.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 609.50 149.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 609.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 609.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 609.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 609.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 609.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 609.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 609.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 609.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 609.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 609.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 609.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 609.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 609.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 609.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 585.50 149.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 585.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 585.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 585.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 585.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 585.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 585.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 585.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 585.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 585.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 585.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 585.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 585.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 585.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 585.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 561.50 149.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 561.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 561.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 561.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 561.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 561.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 561.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 561.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 561.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 561.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 561.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 561.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 561.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 561.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 561.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 530.50 149.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 530.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 530.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 530.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 530.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 530.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 530.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 530.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 530.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 530.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 530.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 530.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 530.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 530.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 530.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 506.50 149.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 506.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 506.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 506.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 506.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 506.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 506.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 506.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 506.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 506.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 506.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 506.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 506.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 506.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 506.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 482.50 149.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 482.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 482.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 482.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 482.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 482.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 482.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 482.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 482.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 482.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 482.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 482.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 482.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 482.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 482.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 458.50 149.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 458.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 458.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 458.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 458.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 458.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 458.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 458.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 458.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 458.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 458.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 458.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 458.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 458.50 4.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 458.50 48.00 -19.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 427.50 149.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 427.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 427.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 427.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 427.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 427.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 427.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 427.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 427.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 427.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 427.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 427.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 427.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 427.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 427.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 403.50 149.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 199.00 403.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 203.00 403.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 251.00 403.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 255.00 403.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 303.00 403.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 403.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 403.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 403.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 407.00 403.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 411.00 403.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 403.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 463.00 403.50 48.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 511.00 403.50 4.00 -12.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 515.00 403.50 48.00 -12.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 700.5 m 251 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 251 700.5 m 255 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 700.5 m 303 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 700.5 m 459 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 700.5 m 463 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 700.5 m 511 700.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 688.5 m 251 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 688.5 m 303 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 688.5 m 355 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 688.5 m 407 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 688.5 m 459 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 688.5 m 511 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 688.5 m 563 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 688.5 m 251 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 688.5 m 303 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 688.5 m 355 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 688.5 m 407 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 688.5 m 459 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 688.5 m 511 688.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 573.5 m 251 573.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 203 561.5 m 251 561.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 573.5 m 303 573.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 255 561.5 m 303 561.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 573.5 m 355 573.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 561.5 m 355 561.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 573.5 m 407 573.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 561.5 m 407 561.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 573.5 m 459 573.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 411 561.5 m 459 561.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 573.5 m 511 573.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 463 561.5 m 511 561.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 573.5 m 563 573.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 515 561.5 m 563 561.5 l s 0 0 0 RG /GS0 gs 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BT 52.50 668.55 Td (Cumulative ef) Tj ET Q q 0 0 0 rg BT 92.29 668.55 Td (fect of accounting change) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 668.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 668.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 339.30 668.60 Td (\(415) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 352.15 668.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 384.90 668.55 Td (16,072) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 668.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 668.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 540.90 668.55 Td (15,657) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 656.55 Td (Issued or purchased pursuant to stock) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 649.55 Td (compensation plans) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 220.15 649.55 Td (7,031,767) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.65 649.55 Td (7) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 346.30 649.60 Td (\(7) Tj ET Q BT /F1 7.00 Tf ET q 0 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625.55 Td (40,729,332) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 625.55 Td (40) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 329.40 625.55 Td (160,451) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 625.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 625.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 625.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 537.40 625.55 Td (160,491) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 613.55 Td (Stock-based compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 613.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 613.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 332.90 613.55 Td (21,042) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 613.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 613.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 613.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 540.90 613.55 Td (21,042) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 601.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.53 601.55 Td (ax withholding � stock compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 601.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 601.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 601.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 601.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 433.40 601.55 Td (782,566) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 490.05 601.60 Td (\(1,597) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 508.15 601.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 542.05 601.60 Td (\(1,597) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 601.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 589.55 Td (Dividends adjustments) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 589.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 589.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 589.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 589.55 Td (70) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 589.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 589.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 589.55 Td (70) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 577.55 Td (Net loss) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 577.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 577.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 577.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 379.05 577.60 Td (\(976,177) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 404.15 577.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 577.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 577.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 535.05 577.60 Td (\(976,177) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 577.55 Td (\)) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 565.56 Td (Balance � December) Tj ET Q q 0 0 0 rg BT 113.47 565.56 Td ( 31, 2016) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 213.10 565.55 Td (402,334,655) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 289.65 565.55 Td (402) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 324.15 565.55 Td (2,534,670) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 373.80 565.60 Td (\(2,018,989) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 404.15 565.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 428.15 565.55 Td (3,906,877) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 486.55 565.60 Td (\(47,635) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 508.15 565.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 537.40 565.55 Td (468,448) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 553.55 Td (Issued or purchased pursuant to stock) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 546.55 Td (compensation plans) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 220.15 546.55 Td (5,201,854) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.65 546.55 Td (6) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 346.30 546.60 Td (\(6) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 352.15 546.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 546.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 546.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 546.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 546.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 534.55 Td (Issued pursuant to directors�) Tj ET Q q 0 0 0 rg BT 131.75 534.55 Td ( compensation plan) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 228.90 534.55 Td (12,837) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 534.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 534.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 534.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 534.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 534.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 534.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 522.55 Td (Stock-based compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 522.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 522.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 332.90 522.55 Td (19,721) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 522.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 522.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 522.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 540.90 522.55 Td (19,721) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 510.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.53 510.55 Td (ax withholding � stock compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 510.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 510.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 510.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 510.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 428.15 510.55 Td (1,550,164) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 490.05 510.60 Td (\(3,183) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 508.15 510.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 542.05 510.60 Td (\(3,183) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 510.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 498.55 Td (Retirement of treasury stock) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 217.80 498.55 Td (\(5,000,000) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 248.15 498.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 294.30 498.55 Td (\(5) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 300.15 498.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 330.55 498.60 Td (\(46,557) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 352.15 498.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 498.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 425.80 498.60 Td (\(5,000,000) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 456.15 498.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 488.90 498.55 Td (46,562) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 498.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 486.55 Td (Dividends adjustments) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 486.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 486.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 486.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 486.55 Td (27) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 486.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 486.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 486.55 Td (27) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 474.55 Td (Net income) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 474.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 474.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 474.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 381.40 474.55 Td (163,152) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 474.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 474.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 537.40 474.55 Td (163,152) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 462.56 Td (Balance � December) Tj ET Q q 0 0 0 rg BT 113.47 462.56 Td ( 31, 2017) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 213.10 462.55 Td (402,549,346) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 289.65 462.55 Td (403) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 324.15 462.55 Td (2,507,828) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 373.80 462.60 Td (\(1,855,810) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 404.15 462.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 433.40 462.55 Td (457,041) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 490.05 462.60 Td (\(4,256) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 508.15 462.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 537.40 462.55 Td (648,165) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 450.55 Td (Issued or purchased pursuant to stock) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 443.55 Td (compensation plans) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 220.15 443.55 Td (4,556,424) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 296.65 443.55 Td (4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 346.30 443.60 Td (\(4) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 352.15 443.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 443.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 443.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 443.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 553.15 443.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 431.55 Td (Issued pursuant to notes conversion) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 216.60 431.55 Td (55,249,955) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 431.55 Td (55) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 329.40 431.55 Td (161,949) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 431.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 431.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 431.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 537.40 431.55 Td (162,004) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 419.55 Td (Stock-based compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 419.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 419.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 332.90 419.55 Td (15,438) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 419.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 419.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 419.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 540.90 419.55 Td (15,438) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 407.55 Td (T) Tj ET Q q 0 0 0 rg BT 56.53 407.55 Td (ax withholding � stock compensation) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 407.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 407.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 407.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 397.15 407.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 428.15 407.55 Td (1,484,708) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 490.05 407.60 Td (\(6,528) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 508.15 407.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 542.05 407.60 Td (\(6,528) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 560.15 407.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 52.50 395.55 Td (Net income) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 241.15 395.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 293.15 395.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 345.15 395.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 381.40 395.55 Td (322,698) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 449.15 395.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 501.15 395.55 Td (�) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 537.40 395.55 Td (322,698) Tj ET Q BT /F2 7.00 Tf ET q 0 0 0 rg BT 52.50 383.56 Td (Balance � December) Tj ET Q q 0 0 0 rg BT 113.41 383.56 Td ( 31, 2018) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 213.10 383.55 Td (462,355,725) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 257.50 383.55 Td ($) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 289.65 383.55 Td (462) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 309.50 383.55 Td ($) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 324.15 383.55 Td (2,685,21) Tj ET Q q 0 0 0 rg BT 348.65 383.55 Td (1) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 361.50 383.55 Td ($) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 373.80 383.60 Td (\(1,533,1) Tj ET Q q 0 0 0 rg BT 397.13 383.60 Td (12) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 404.15 383.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 428.15 383.55 Td (1,941,749) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 465.50 383.55 Td ($) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 486.55 383.60 Td (\(10,784) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 508.15 383.55 Td (\)) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 517.50 383.55 Td ($) Tj ET Q BT /F1 7.00 Tf ET q 0 0 0 rg BT 532.15 383.55 Td (1,141,777) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.10 356.00 Td (�See accompanying Notes to Consolidated Financial Statements.) Tj ET Q endstream endobj 141 0 obj <> endobj 142 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (70) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (Note 1. Significant ) Tj ET Q q 0 0 0 rg BT 130.06 701.10 Td (Accounting Policies) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (Organization and Natur) Tj ET Q q 0 0 0 rg BT 152.66 677.10 Td (e of Operations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 653.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 105.06 653.10 Td (Resources ) Tj ET Q q 0 0 0 rg BT 148.74 653.10 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 169.08 653.10 Td (a ) Tj ET Q q 0 0 0 rg BT 176.09 653.10 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 216.98 653.10 Td (corporation, ) Tj ET Q q 0 0 0 rg BT 268.14 653.10 Td (is ) Tj ET Q q 0 0 0 rg BT 277.39 653.10 Td (an ) Tj ET Q q 0 0 0 rg BT 289.40 653.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 340.85 653.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 353.98 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 370.99 653.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 401.33 653.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 417.24 653.10 Td (company ) Tj ET Q q 0 0 0 rg BT 456.47 653.10 Td (with ) Tj ET Q q 0 0 0 rg BT 476.82 653.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 521.05 653.10 Td (focused ) Tj ET Q q 0 0 0 rg BT 554.72 653.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (two ) Tj ET Q q 0 0 0 rg BT 66.83 641.10 Td (key ) Tj ET Q q 0 0 0 rg BT 83.59 641.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 123.68 641.10 Td (areas: ) Tj ET Q q 0 0 0 rg BT 149.32 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 163.87 641.10 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 184.52 641.10 Td (Coast ) Tj ET Q q 0 0 0 rg BT 209.63 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 226.39 641.10 Td (Rocky ) Tj ET Q q 0 0 0 rg BT 254.83 641.10 Td (Mountain ) Tj ET Q q 0 0 0 rg BT 296.04 641.10 Td (regions. ) Tj ET Q q 0 0 0 rg BT 330.31 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.63 641.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 350.51 641.10 Td (goal ) Tj ET Q q 0 0 0 rg BT 370.06 641.10 Td (is ) Tj ET Q q 0 0 0 rg BT 379.05 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 389.16 641.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 424.24 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 438.78 641.10 Td (value ) Tj ET Q q 0 0 0 rg BT 462.76 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 473.42 641.10 Td (our ) Tj ET Q q 0 0 0 rg BT 489.08 641.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 531.39 641.10 Td (through ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.18 629.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 108.42 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 118.99 629.10 Td (exploitation, ) Tj ET Q q 0 0 0 rg BT 171.51 629.10 Td (drilling ) Tj ET Q q 0 0 0 rg BT 203.20 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 219.88 629.10 Td (proven ) Tj ET Q q 0 0 0 rg BT 249.89 629.10 Td (engineering ) Tj ET Q q 0 0 0 rg BT 299.34 629.10 Td (extraction ) Tj ET Q q 0 0 0 rg BT 341.57 629.10 Td (practices, ) Tj ET Q q 0 0 0 rg BT 381.84 629.10 Td (with ) Tj ET Q q 0 0 0 rg BT 401.87 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.33 629.10 Td (most ) Tj ET Q q 0 0 0 rg BT 438.02 629.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 482.48 629.10 Td (emphasis ) Tj ET Q q 0 0 0 rg BT 521.94 629.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 554.73 629.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 615.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.64 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 69.14 617.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 109.40 617.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 122.45 617.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 159.93 617.10 Td (operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (Principles ) Tj ET Q q 0 0 0 rg BT 94.77 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.60 593.10 Td (Reporting ) Tj ET Q q 0 0 0 rg BT 151.43 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 170.06 593.10 Td (Consolidation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 569.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.05 569.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 137.59 569.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 174.57 569.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 218.79 569.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 245.77 569.10 Td (have ) Tj ET Q q 0 0 0 rg BT 266.65 569.10 Td (been ) Tj ET Q q 0 0 0 rg BT 287.53 569.10 Td (prepared ) Tj ET Q q 0 0 0 rg BT 324.50 569.10 Td (in ) Tj ET Q q 0 0 0 rg BT 334.28 569.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 381.25 569.10 Td (with ) Tj ET Q q 0 0 0 rg BT 401.02 569.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 446.90 569.10 Td (principles ) Tj ET Q q 0 0 0 rg BT 488.33 569.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 527.54 569.10 Td (accepted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 61.30 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 77.54 557.10 Td (United ) Tj ET Q q 0 0 0 rg BT 108.79 557.10 Td (States ) Tj ET Q q 0 0 0 rg BT 136.70 557.10 Td (\(�GAAP�\) ) Tj ET Q q 0 0 0 rg BT 183.48 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 201.95 557.10 Td (include ) Tj ET Q q 0 0 0 rg BT 235.41 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 251.65 557.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 290.66 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 303.01 557.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 342.03 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 360.49 557.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 393.39 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 405.20 557.10 Td (which ) Tj ET Q q 0 0 0 rg BT 433.66 557.10 Td (we ) Tj ET Q q 0 0 0 rg BT 449.34 557.10 Td (hold ) Tj ET Q q 0 0 0 rg BT 471.15 557.10 Td (a ) Tj ET Q q 0 0 0 rg BT 479.61 557.10 Td (controlling ) Tj ET Q q 0 0 0 rg BT 527.52 557.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (interest.��Undivided ) Tj ET Q q 0 0 0 rg BT 131.45 545.10 Td (interests ) Tj ET Q q 0 0 0 rg BT 167.58 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 178.16 545.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 191.52 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 208.76 545.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 224.89 545.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 246.03 545.10 Td (ventures ) Tj ET Q q 0 0 0 rg BT 282.71 545.10 Td (are ) Tj ET Q q 0 0 0 rg BT 297.71 545.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 351.06 545.10 Td (on ) Tj ET Q q 0 0 0 rg BT 363.86 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 371.10 545.10 Td (proportionate ) Tj ET Q q 0 0 0 rg BT 427.77 545.10 Td (basis.��) Tj ET Q q 0 0 0 rg BT 454.72 545.10 Td (All ) Tj ET Q q 0 0 0 rg BT 470.30 545.10 Td (intercompany ) Tj ET Q q 0 0 0 rg BT 528.08 545.10 Td (balances ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 533.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 116.70 533.10 Td (have ) Tj ET Q q 0 0 0 rg BT 138.08 533.10 Td (been ) Tj ET Q q 0 0 0 rg BT 159.46 533.10 Td (eliminated.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (Use of Estimates) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 485.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.56 485.10 Td (preparation ) Tj ET Q q 0 0 0 rg BT 133.61 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 144.46 485.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 181.95 485.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 226.68 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 236.98 485.10 Td (conformity ) Tj ET Q q 0 0 0 rg BT 283.93 485.10 Td (with ) Tj ET Q q 0 0 0 rg BT 304.22 485.10 Td (GAAP) Tj ET Q q 0 0 0 rg BT 331.08 485.10 Td ( ) Tj ET Q q 0 0 0 rg BT 333.59 485.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 368.32 485.10 Td (management ) Tj ET Q q 0 0 0 rg BT 421.92 485.10 Td (to ) Tj ET Q q 0 0 0 rg BT 432.21 485.10 Td (make ) Tj ET Q q 0 0 0 rg BT 456.39 485.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 496.11 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 513.07 485.10 Td (assumptions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (that ) Tj ET Q q 0 0 0 rg BT 67.70 473.10 Td (af) Tj ET Q q 0 0 0 rg BT 75.29 473.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 93.49 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 108.91 473.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 145.44 473.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 178.64 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.18 473.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 220.59 473.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 247.13 473.10 Td (and ) Tj ET Q q 0 0 0 rg BT 264.78 473.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 307.71 473.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 351.46 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 363.00 473.10 Td (contingent ) Tj ET Q q 0 0 0 rg BT 408.43 473.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 434.96 473.10 Td (and ) Tj ET Q q 0 0 0 rg BT 452.61 473.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 493.04 473.10 Td (at ) Tj ET Q q 0 0 0 rg BT 503.47 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.89 473.10 Td (date ) Tj ET Q q 0 0 0 rg BT 538.76 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 550.30 473.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.91 461.10 Td (statements, ) Tj ET Q q 0 0 0 rg BT 134.06 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.93 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 165.58 461.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 201.33 461.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 237.65 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 248.42 461.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 286.39 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 303.26 461.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 341.79 461.10 Td (during ) Tj ET Q q 0 0 0 rg BT 370.34 461.10 Td (each ) Tj ET Q q 0 0 0 rg BT 391.09 461.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 430.18 461.10 Td (period.��Management ) Tj ET Q q 0 0 0 rg BT 517.86 461.10 Td (believes ) Tj ET Q q 0 0 0 rg BT 553.06 461.10 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 91.02 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 109.77 449.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 163.52 449.10 Td (are ) Tj ET Q q 0 0 0 rg BT 180.04 449.10 Td (reasonable; ) Tj ET Q q 0 0 0 rg BT 229.88 449.10 Td (however) Tj ET Q q 0 0 0 rg BT 263.91 449.10 Td (, ) Tj ET Q q 0 0 0 rg BT 270.72 449.10 Td (such ) Tj ET Q q 0 0 0 rg BT 293.36 449.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 334.88 449.10 Td (and ) Tj ET Q q 0 0 0 rg BT 353.62 449.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 407.38 449.10 Td (are ) Tj ET Q q 0 0 0 rg BT 423.90 449.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 456.53 449.10 Td (to ) Tj ET Q q 0 0 0 rg BT 468.62 449.10 Td (a ) Tj ET Q q 0 0 0 rg BT 477.36 449.10 Td (number ) Tj ET Q q 0 0 0 rg BT 512.22 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 524.86 449.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 548.06 449.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 102.24 437.10 Td (that ) Tj ET Q q 0 0 0 rg BT 118.88 437.10 Td (may ) Tj ET Q q 0 0 0 rg BT 137.75 437.10 Td (cause ) Tj ET Q q 0 0 0 rg BT 161.61 437.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 187.13 437.10 Td (results ) Tj ET Q q 0 0 0 rg BT 214.89 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 224.32 437.10 Td (dif) Tj ET Q q 0 0 0 rg BT 235.25 437.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 248.00 437.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 290.18 437.10 Td (from ) Tj ET Q q 0 0 0 rg BT 311.27 437.10 Td (such ) Tj ET Q q 0 0 0 rg BT 331.25 437.10 Td (estimates.��Significant ) Tj ET Q q 0 0 0 rg BT 421.50 437.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 460.36 437.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 505.33 437.10 Td (these ) Tj ET Q q 0 0 0 rg BT 527.53 437.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 94.13 425.10 Td (include ) Tj ET Q q 0 0 0 rg BT 125.98 425.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 140.06 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 154.70 425.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 170.99 425.10 Td (value ) Tj ET Q q 0 0 0 rg BT 195.07 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.81 425.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 243.21 425.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 285.61 425.10 Td (instruments; ) Tj ET Q q 0 0 0 rg BT 337.47 425.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 351.55 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.19 425.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 406.93 425.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 448.23 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.98 425.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 489.16 425.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 502.14 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.99 425.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 549.18 425.10 Td (gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 84.90 413.10 Td (used ) Tj ET Q q 0 0 0 rg BT 105.88 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 116.30 413.10 Td (compute ) Tj ET Q q 0 0 0 rg BT 153.38 413.10 Td (depletion ) Tj ET Q q 0 0 0 rg BT 193.24 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 204.22 413.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 217.42 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 234.50 413.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 264.91 413.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 280.89 413.10 Td (properties, ) Tj ET Q q 0 0 0 rg BT 326.02 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 340.88 413.10 Td (related ) Tj ET Q q 0 0 0 rg BT 370.73 413.10 Td (present ) Tj ET Q q 0 0 0 rg BT 402.25 413.10 Td (value ) Tj ET Q q 0 0 0 rg BT 426.55 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 437.53 413.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 478.49 413.10 Td (future ) Tj ET Q q 0 0 0 rg BT 505.01 413.10 Td (net ) Tj ET Q q 0 0 0 rg BT 519.88 413.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 540.29 413.10 Td (flows ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (therefrom ) Tj ET Q q 0 0 0 rg BT 91.61 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 108.73 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 123.64 401.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 153.53 401.10 Td (test; ) Tj ET Q q 0 0 0 rg BT 172.88 401.10 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 187.23 401.10 Td (future ) Tj ET Q q 0 0 0 rg BT 213.79 401.10 Td (net ) Tj ET Q q 0 0 0 rg BT 228.69 401.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 249.15 401.10 Td (flow ) Tj ET Q q 0 0 0 rg BT 270.16 401.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 310.06 401.10 Td (used ) Tj ET Q q 0 0 0 rg BT 331.08 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 341.54 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 356.44 401.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 405.23 401.10 Td (assessment ) Tj ET Q q 0 0 0 rg BT 452.35 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 463.37 401.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 507.16 401.10 Td (assets; ) Tj ET Q q 0 0 0 rg BT 535.95 401.10 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 550.30 401.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 90.10 389.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 131.27 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.88 389.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 171.93 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 188.65 389.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 225.92 389.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 239.81 387.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.06 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 245.34 389.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 280.39 389.10 Td (used ) Tj ET Q q 0 0 0 rg BT 301.00 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 311.06 389.10 Td (compute ) Tj ET Q q 0 0 0 rg BT 347.78 389.10 Td (depletion ) Tj ET Q q 0 0 0 rg BT 387.27 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 397.88 389.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 411.78 387.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.02 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 417.31 389.10 Td (properties; ) Tj ET Q q 0 0 0 rg BT 462.35 389.10 Td (\(5\) ) Tj ET Q q 0 0 0 rg BT 476.30 389.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 516.90 389.10 Td (useful ) Tj ET Q q 0 0 0 rg BT 543.62 389.10 Td (lives ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (used ) Tj ET Q q 0 0 0 rg BT 70.42 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 80.80 377.10 Td (compute ) Tj ET Q q 0 0 0 rg BT 117.82 377.10 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 169.84 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 186.87 377.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 240.00 377.10 Td (of ) Tj ET Q q 0 0 0 rg BT 250.93 377.10 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 294.62 377.10 Td (assets; ) Tj ET Q q 0 0 0 rg BT 323.33 377.10 Td (\(6\) ) Tj ET Q q 0 0 0 rg BT 337.58 377.10 Td (accruals ) Tj ET Q q 0 0 0 rg BT 372.93 377.10 Td (related ) Tj ET Q q 0 0 0 rg BT 402.73 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 413.10 377.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 426.25 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 443.28 377.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 473.64 377.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 489.56 377.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 511.60 377.10 Td (volumes ) Tj ET Q q 0 0 0 rg BT 548.08 377.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 88.92 365.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 116.95 365.10 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 169.42 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 185.24 365.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 206.60 365.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 245.75 365.10 Td (expenses; ) Tj ET Q q 0 0 0 rg BT 286.00 365.10 Td (\(7\) ) Tj ET Q q 0 0 0 rg BT 299.04 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 312.64 365.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 352.34 365.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 373.72 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 389.53 365.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 417.03 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 426.74 365.10 Td (future ) Tj ET Q q 0 0 0 rg BT 451.99 365.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 472.81 365.10 Td (retirement ) Tj ET Q q 0 0 0 rg BT 515.28 365.10 Td (obligations; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.34 353.10 Td (\(8\) ) Tj ET Q q 0 0 0 rg BT 80.41 353.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 120.02 353.10 Td (made ) Tj ET Q q 0 0 0 rg BT 144.08 353.10 Td (in ) Tj ET Q q 0 0 0 rg BT 154.26 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.88 353.10 Td (calculation ) Tj ET Q q 0 0 0 rg BT 215.15 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.89 353.10 Td (income ) Tj ET Q q 0 0 0 rg BT 257.73 353.10 Td (taxes.��) Tj ET Q q 0 0 0 rg BT 285.59 353.10 Td (While ) Tj ET Q q 0 0 0 rg BT 312.43 353.10 Td (management ) Tj ET Q q 0 0 0 rg BT 365.92 353.10 Td (is ) Tj ET Q q 0 0 0 rg BT 375.00 353.10 Td (not ) Tj ET Q q 0 0 0 rg BT 390.18 353.10 Td (aware ) Tj ET Q q 0 0 0 rg BT 416.45 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 427.18 353.10 Td (any ) Tj ET Q q 0 0 0 rg BT 444.03 353.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 488.64 353.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 527.15 353.10 Td (to ) Tj ET Q q 0 0 0 rg BT 537.34 353.10 Td (any ) Tj ET Q q 0 0 0 rg BT 554.18 353.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (its ) Tj ET Q q 0 0 0 rg BT 62.32 341.10 Td (current ) Tj ET Q q 0 0 0 rg BT 94.02 341.10 Td (year) Tj ET Q q 0 0 0 rg BT 111.02 341.10 Td (-end ) Tj ET Q q 0 0 0 rg BT 132.17 341.10 Td (estimates, ) Tj ET Q q 0 0 0 rg BT 175.26 341.10 Td (there ) Tj ET Q q 0 0 0 rg BT 198.62 341.10 Td (will ) Tj ET Q q 0 0 0 rg BT 217.55 341.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 243.70 341.10 Td (be ) Tj ET Q q 0 0 0 rg BT 256.52 341.10 Td (future ) Tj ET Q q 0 0 0 rg BT 283.77 341.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 323.25 341.10 Td (to ) Tj ET Q q 0 0 0 rg BT 334.41 341.10 Td (its ) Tj ET Q q 0 0 0 rg BT 347.23 341.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 387.82 341.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 426.19 341.10 Td (from ) Tj ET Q q 0 0 0 rg BT 449.01 341.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 481.82 341.10 Td (such ) Tj ET Q q 0 0 0 rg BT 503.53 341.10 Td (as ) Tj ET Q q 0 0 0 rg BT 515.23 341.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 554.72 341.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 90.27 329.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 103.28 329.10 Td (and ) Tj ET Q q 0 0 0 rg BT 120.17 329.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 150.39 329.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 166.17 329.10 Td (volumes, ) Tj ET Q q 0 0 0 rg BT 205.01 329.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 239.67 329.10 Td (in ) Tj ET Q q 0 0 0 rg BT 249.90 329.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 294.02 329.10 Td (interests, ) Tj ET Q q 0 0 0 rg BT 332.29 329.10 Td (payouts, ) Tj ET Q q 0 0 0 rg BT 368.35 329.10 Td (joint ) Tj ET Q q 0 0 0 rg BT 389.14 329.10 Td (venture ) Tj ET Q q 0 0 0 rg BT 421.58 329.10 Td (audits, ) Tj ET Q q 0 0 0 rg BT 450.42 329.10 Td (re-allocations ) Tj ET Q q 0 0 0 rg BT 507.29 329.10 Td (by ) Tj ET Q q 0 0 0 rg BT 519.74 329.10 Td (purchasers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.40 317.10 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 101.57 317.10 Td (or ) Tj ET Q q 0 0 0 rg BT 112.47 317.10 Td (other ) Tj ET Q q 0 0 0 rg BT 135.58 317.10 Td (corrections ) Tj ET Q q 0 0 0 rg BT 182.58 317.10 Td (and ) Tj ET Q q 0 0 0 rg BT 199.58 317.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 249.92 317.10 Td (common ) Tj ET Q q 0 0 0 rg BT 287.49 317.10 Td (in ) Tj ET Q q 0 0 0 rg BT 297.83 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 312.62 317.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 325.75 317.10 Td (and ) Tj ET Q q 0 0 0 rg BT 342.75 317.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 373.08 317.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 388.98 317.10 Td (industry) Tj ET Q q 0 0 0 rg BT 421.11 317.10 Td (, ) Tj ET Q q 0 0 0 rg BT 426.18 317.10 Td (many ) Tj ET Q q 0 0 0 rg BT 450.96 317.10 Td (of ) Tj ET Q q 0 0 0 rg BT 461.86 317.10 Td (which ) Tj ET Q q 0 0 0 rg BT 488.87 317.10 Td (require ) Tj ET Q q 0 0 0 rg BT 519.75 317.10 Td (retroactive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (application.��) Tj ET Q q 0 0 0 rg BT 101.25 305.10 Td (These ) Tj ET Q q 0 0 0 rg BT 127.42 305.10 Td (types ) Tj ET Q q 0 0 0 rg BT 150.83 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 161.46 305.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 211.54 305.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 240.49 305.10 Td (be ) Tj ET Q q 0 0 0 rg BT 252.23 305.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 290.62 305.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 331.24 305.10 Td (and ) Tj ET Q q 0 0 0 rg BT 347.98 305.10 Td (will ) Tj ET Q q 0 0 0 rg BT 365.84 305.10 Td (be ) Tj ET Q q 0 0 0 rg BT 377.58 305.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 414.85 305.10 Td (in ) Tj ET Q q 0 0 0 rg BT 424.93 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 439.45 305.10 Td (period ) Tj ET Q q 0 0 0 rg BT 467.29 305.10 Td (in ) Tj ET Q q 0 0 0 rg BT 477.37 305.10 Td (which ) Tj ET Q q 0 0 0 rg BT 504.11 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.63 305.10 Td (adjustment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (occurs.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 78.10 293.10 Td (�) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (Reclassifications) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 245.10 Td (Certain ) Tj ET Q q 0 0 0 rg BT 99.64 245.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 121.79 245.10 Td (period ) Tj ET Q q 0 0 0 rg BT 150.04 245.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 186.63 245.10 Td (have ) Tj ET Q q 0 0 0 rg BT 208.22 245.10 Td (been ) Tj ET Q q 0 0 0 rg BT 229.80 245.10 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 278.04 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 288.52 245.10 Td (conform ) Tj ET Q q 0 0 0 rg BT 325.11 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 335.59 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.51 245.10 Td (current ) Tj ET Q q 0 0 0 rg BT 381.54 245.10 Td (year ) Tj ET Q q 0 0 0 rg BT 401.45 245.10 Td (presentation. ) Tj ET Q q 0 0 0 rg BT 455.53 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 458.23 245.10 Td (Such ) Tj ET Q q 0 0 0 rg BT 480.94 245.10 Td (reclassifications ) Tj ET Q q 0 0 0 rg BT 548.07 245.10 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (no ) Tj ET Q q 0 0 0 rg BT 62.00 233.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 91.71 233.10 Td (on ) Tj ET Q q 0 0 0 rg BT 104.21 233.10 Td (our ) Tj ET Q q 0 0 0 rg BT 120.04 233.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 155.86 233.10 Td (net ) Tj ET Q q 0 0 0 rg BT 170.57 233.10 Td (income, ) Tj ET Q q 0 0 0 rg BT 205.01 233.10 Td (current ) Tj ET Q q 0 0 0 rg BT 235.82 233.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 264.15 233.10 Td (total ) Tj ET Q q 0 0 0 rg BT 284.43 233.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 312.76 233.10 Td (current ) Tj ET Q q 0 0 0 rg BT 343.57 233.10 Td (liabilities, ) Tj ET Q q 0 0 0 rg BT 385.79 233.10 Td (total ) Tj ET Q q 0 0 0 rg BT 406.06 233.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 445.78 233.10 Td (or ) Tj ET Q q 0 0 0 rg BT 456.61 233.10 Td (stockholders�) Tj ET Q q 0 0 0 rg BT 509.74 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 512.24 233.10 Td (equity) Tj ET Q q 0 0 0 rg BT 536.59 233.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (Cash, ) Tj ET Q q 0 0 0 rg BT 76.17 209.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 100.35 209.10 Td (Equivalents, ) Tj ET Q q 0 0 0 rg BT 155.92 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 174.54 209.10 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 220.91 209.10 Td (Cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 185.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 185.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.99 185.10 Td (consider ) Tj ET Q q 0 0 0 rg BT 119.29 185.10 Td (all ) Tj ET Q q 0 0 0 rg BT 131.70 185.10 Td (highly ) Tj ET Q q 0 0 0 rg BT 159.67 185.10 Td (liquid ) Tj ET Q q 0 0 0 rg BT 185.42 185.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 235.62 185.10 Td (to ) Tj ET Q q 0 0 0 rg BT 245.81 185.10 Td (be ) Tj ET Q q 0 0 0 rg BT 257.67 185.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 277.85 185.10 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 325.81 185.10 Td (if ) Tj ET Q q 0 0 0 rg BT 334.34 185.10 Td (they ) Tj ET Q q 0 0 0 rg BT 353.97 185.10 Td (have ) Tj ET Q q 0 0 0 rg BT 375.26 185.10 Td (maturities ) Tj ET Q q 0 0 0 rg BT 417.67 185.10 Td (of ) Tj ET Q q 0 0 0 rg BT 428.42 185.10 Td (three ) Tj ET Q q 0 0 0 rg BT 450.82 185.10 Td (months ) Tj ET Q q 0 0 0 rg BT 482.69 185.10 Td (or ) Tj ET Q q 0 0 0 rg BT 493.43 185.10 Td (less ) Tj ET Q q 0 0 0 rg BT 510.85 185.10 Td (at ) Tj ET Q q 0 0 0 rg BT 520.48 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 535.12 185.10 Td (date ) Tj ET Q q 0 0 0 rg BT 554.19 185.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (purchase. ) Tj ET Q q 0 0 0 rg BT 91.11 173.10 Td ( ) Tj ET Q q 0 0 0 rg BT 94.42 173.10 Td (The ) Tj ET Q q 0 0 0 rg BT 113.54 173.10 Td (following ) Tj ET Q q 0 0 0 rg BT 156.00 173.10 Td (table ) Tj ET Q q 0 0 0 rg BT 179.00 173.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 217.01 173.10 Td (a ) Tj ET Q q 0 0 0 rg BT 225.02 173.10 Td (reconciliation ) Tj ET Q q 0 0 0 rg BT 283.56 173.10 Td (of ) Tj ET Q q 0 0 0 rg BT 295.47 173.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 319.31 173.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 340.64 173.10 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 392.26 173.10 Td (and ) Tj ET Q q 0 0 0 rg BT 410.27 173.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 451.04 173.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 472.38 173.10 Td (as ) Tj ET Q q 0 0 0 rg BT 484.28 173.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 521.17 173.10 Td (within ) Tj ET Q q 0 0 0 rg BT 550.29 173.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 104.49 161.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 138.90 161.10 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 167.22 161.10 Td (to ) Tj ET Q q 0 0 0 rg BT 177.21 161.10 Td (�Cash, ) Tj ET Q q 0 0 0 rg BT 206.36 161.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 226.34 161.10 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 276.59 161.10 Td (and ) Tj ET Q q 0 0 0 rg BT 293.25 161.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 332.66 161.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 352.64 161.10 Td (at ) Tj ET Q q 0 0 0 rg BT 362.07 161.10 Td (end ) Tj ET Q q 0 0 0 rg BT 378.72 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 389.26 161.10 Td (period� ) Tj ET Q q 0 0 0 rg BT 421.46 161.10 Td (as ) Tj ET Q q 0 0 0 rg BT 432.00 161.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 467.53 161.10 Td (within ) Tj ET Q q 0 0 0 rg BT 495.30 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.72 161.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 95.88 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.71 149.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 129.21 149.10 Td (Flows:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 108.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 108.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 108.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 108.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 108.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 78.60 375.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 78.60 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 78.60 65.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 78.60 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 78.60 65.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 123.60000000000002 m 493 123.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 123.60000000000002 m 562 123.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 108.60000000000002 m 424 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 123.60000000000002 m 493 123.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 108.60000000000002 m 493 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 123.60000000000002 m 497 123.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 123.60000000000002 m 562 123.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 108.60000000000002 m 562 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 108.60000000000002 m 424 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 108.60000000000002 m 493 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 108.60000000000002 m 562 108.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 78.60000000000002 m 493 78.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 78.60000000000002 m 562 78.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 78.60000000000002 m 493 78.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 56.60000000000002 m 493 56.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 54.60000000000002 m 493 54.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 78.60000000000002 m 562 78.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 56.60000000000002 m 562 56.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 54.60000000000002 m 562 54.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.45 128.27 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 113.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 113.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 98.27 Td (Cash and cash equivalents) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 98.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 98.27 Td (38,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 98.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 98.27 Td (58) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 83.27 Td (Restricted cash included in other assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 83.27 Td (16,389) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 83.27 Td (15,934) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 69.17 Td (T) Tj ET Q q 0 0 0 rg BT 68.91 69.17 Td (otal cash, cash equivalents, and restricted cash shown in the Consolidated Statements of) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 59.17 Td (Cash Flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 60.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 60.27 Td (54,949) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 60.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 60.27 Td (15,992) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 143 0 obj <> endobj 144 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (71) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 701.10 Td (Amounts ) Tj ET Q q 0 0 0 rg BT 106.70 701.10 Td (included ) Tj ET Q q 0 0 0 rg BT 143.66 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 153.97 701.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 193.70 701.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 213.99 701.10 Td (included ) Tj ET Q q 0 0 0 rg BT 250.96 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 261.26 701.10 Td (�Other ) Tj ET Q q 0 0 0 rg BT 291.00 701.10 Td (assets� ) Tj ET Q q 0 0 0 rg BT 321.29 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 331.60 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 346.35 701.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 407.19 701.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 462.49 701.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 497.22 701.10 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 525.85 701.10 Td (represent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (escrow ) Tj ET Q q 0 0 0 rg BT 80.32 689.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 117.81 689.10 Td (that ) Tj ET Q q 0 0 0 rg BT 135.30 689.10 Td (are ) Tj ET Q q 0 0 0 rg BT 150.01 689.10 Td (legally ) Tj ET Q q 0 0 0 rg BT 179.72 689.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 219.42 689.10 Td (for ) Tj ET Q q 0 0 0 rg BT 233.58 689.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 263.28 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 274.11 689.10 Td (our ) Tj ET Q q 0 0 0 rg BT 289.94 689.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 311.88 689.10 Td (retirement ) Tj ET Q q 0 0 0 rg BT 355.47 689.10 Td (obligations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (Oil and Natural Gas Pr) Tj ET Q q 0 0 0 rg BT 149.32 665.10 Td (operties) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 641.10 Td (Capitalized ) Tj ET Q q 0 0 0 rg BT 119.02 641.10 Td (Costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 144.85 641.10 Td (��) Tj ET Q q 0 0 0 rg BT 149.67 641.10 Td (W) Tj ET Q q 0 0 0 rg BT 158.31 641.10 Td (e ) Tj ET Q q 0 0 0 rg BT 165.38 641.10 Td (follow ) Tj ET Q q 0 0 0 rg BT 194.11 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.96 641.10 Td (full ) Tj ET Q q 0 0 0 rg BT 225.48 641.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 244.21 641.10 Td (method ) Tj ET Q q 0 0 0 rg BT 276.84 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 287.80 641.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 334.30 641.10 Td (for ) Tj ET Q q 0 0 0 rg BT 348.59 641.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 361.77 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.84 641.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 409.24 641.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 425.20 641.10 Td (properties.��Under ) Tj ET Q q 0 0 0 rg BT 500.30 641.10 Td (this ) Tj ET Q q 0 0 0 rg BT 517.38 641.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 552.50 641.10 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.02 629.10 Td (related ) Tj ET Q q 0 0 0 rg BT 101.75 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 112.05 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 126.79 629.10 Td (acquisition, ) Tj ET Q q 0 0 0 rg BT 175.69 629.10 Td (exploration ) Tj ET Q q 0 0 0 rg BT 223.75 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 240.71 629.10 Td (development ) Tj ET Q q 0 0 0 rg BT 294.89 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.74 629.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 318.82 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.78 629.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 366.06 629.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 381.91 629.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 417.20 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 431.92 629.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 477.75 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 494.71 629.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 547.76 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 558.06 629.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (single ) Tj ET Q q 0 0 0 rg BT 76.67 617.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 96.07 617.10 Td (center ) Tj ET Q q 0 0 0 rg BT 123.78 617.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 176.49 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 193.11 617.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 235.00 617.10 Td (which ) Tj ET Q q 0 0 0 rg BT 262.72 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 278.22 617.10 Td (undertaken ) Tj ET Q q 0 0 0 rg BT 325.93 617.10 Td (exclusively ) Tj ET Q q 0 0 0 rg BT 374.76 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 385.82 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.33 617.10 Td (United ) Tj ET Q q 0 0 0 rg BT 431.83 617.10 Td (States.��Such ) Tj ET Q q 0 0 0 rg BT 486.51 617.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 509.80 617.10 Td (include ) Tj ET Q q 0 0 0 rg BT 542.52 617.10 Td (lease ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 94.76 605.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 118.63 605.10 Td (geological ) Tj ET Q q 0 0 0 rg BT 161.66 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 177.47 605.10 Td (geophysical ) Tj ET Q q 0 0 0 rg BT 226.61 605.10 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 281.58 605.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 302.95 605.10 Td (rentals ) Tj ET Q q 0 0 0 rg BT 330.98 605.10 Td (on ) Tj ET Q q 0 0 0 rg BT 342.35 605.10 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 394.82 605.10 Td (properties, ) Tj ET Q q 0 0 0 rg BT 438.68 605.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 460.06 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 469.77 605.10 Td (drilling ) Tj ET Q q 0 0 0 rg BT 500.58 605.10 Td (both ) Tj ET Q q 0 0 0 rg BT 519.74 605.10 Td (productive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.74 593.10 Td (nonproductive ) Tj ET Q q 0 0 0 rg BT 127.31 593.10 Td (wells, ) Tj ET Q q 0 0 0 rg BT 153.72 593.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 199.83 593.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 232.07 593.10 Td (on ) Tj ET Q q 0 0 0 rg BT 244.88 593.10 Td (qualifying ) Tj ET Q q 0 0 0 rg BT 288.78 593.10 Td (projects, ) Tj ET Q q 0 0 0 rg BT 325.74 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 342.98 593.10 Td (general ) Tj ET Q q 0 0 0 rg BT 375.21 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 392.46 593.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 452.47 593.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 491.37 593.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 524.72 593.10 Td (related ) Tj ET Q q 0 0 0 rg BT 554.72 593.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (exploration ) Tj ET Q q 0 0 0 rg BT 97.45 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 114.30 581.10 Td (development ) Tj ET Q q 0 0 0 rg BT 168.36 581.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 209.37 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 226.22 581.10 Td (do ) Tj ET Q q 0 0 0 rg BT 238.63 581.10 Td (not ) Tj ET Q q 0 0 0 rg BT 253.81 581.10 Td (include ) Tj ET Q q 0 0 0 rg BT 285.66 581.10 Td (any ) Tj ET Q q 0 0 0 rg BT 302.51 581.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 324.92 581.10 Td (related ) Tj ET Q q 0 0 0 rg BT 354.53 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 364.71 581.10 Td (production, ) Tj ET Q q 0 0 0 rg BT 412.95 581.10 Td (general ) Tj ET Q q 0 0 0 rg BT 444.78 581.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 484.95 581.10 Td (overhead ) Tj ET Q q 0 0 0 rg BT 524.00 581.10 Td (or ) Tj ET Q q 0 0 0 rg BT 534.74 581.10 Td (similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (activities.��) Tj ET Q q 0 0 0 rg BT 92.92 569.10 Td (W) Tj ET Q q 0 0 0 rg BT 101.56 569.10 Td (e ) Tj ET Q q 0 0 0 rg BT 108.62 569.10 Td (assign ) Tj ET Q q 0 0 0 rg BT 136.24 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.08 569.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 189.25 569.10 Td (price ) Tj ET Q q 0 0 0 rg BT 211.86 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 222.81 569.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 235.99 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 253.05 569.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 283.44 569.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 299.40 569.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 342.01 569.10 Td (we ) Tj ET Q q 0 0 0 rg BT 356.29 569.10 Td (acquire ) Tj ET Q q 0 0 0 rg BT 388.34 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 398.74 569.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 429.14 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 446.20 569.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 497.13 569.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 539.74 569.10 Td (based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (on ) Tj ET Q q 0 0 0 rg BT 60.88 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.48 557.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 114.18 557.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 129.43 557.10 Td (values ) Tj ET Q q 0 0 0 rg BT 156.36 557.10 Td (as ) Tj ET Q q 0 0 0 rg BT 166.07 557.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 197.43 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 206.59 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 220.19 557.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 258.47 557.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 306.51 557.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 347.33 557.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 373.14 557.10 Td (Codification ) Tj ET Q q 0 0 0 rg BT 424.51 557.10 Td (\(�F) Tj ET Q q 0 0 0 rg BT 437.10 557.10 Td (ASC�\) ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 465.70 557.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 484.86 557.10 Td (V) Tj ET Q q 0 0 0 rg BT 489.86 557.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 508.46 557.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 538.64 557.10 Td (ement) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (topic.��Proceeds ) Tj ET Q q 0 0 0 rg BT 116.66 545.10 Td (received ) Tj ET Q q 0 0 0 rg BT 154.08 545.10 Td (from ) Tj ET Q q 0 0 0 rg BT 177.09 545.10 Td (disposals ) Tj ET Q q 0 0 0 rg BT 217.32 545.10 Td (are ) Tj ET Q q 0 0 0 rg BT 233.09 545.10 Td (credited ) Tj ET Q q 0 0 0 rg BT 268.86 545.10 Td (against ) Tj ET Q q 0 0 0 rg BT 300.75 545.10 Td (accumulated ) Tj ET Q q 0 0 0 rg BT 354.84 545.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 378.41 545.10 Td (except ) Tj ET Q q 0 0 0 rg BT 408.06 545.10 Td (when ) Tj ET Q q 0 0 0 rg BT 433.29 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.07 545.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 468.18 545.10 Td (represents ) Tj ET Q q 0 0 0 rg BT 512.28 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 520.29 545.10 Td (significant ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (disposal ) Tj ET Q q 0 0 0 rg BT 84.75 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 95.54 533.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 133.27 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 143.52 533.10 Td (which ) Tj ET Q q 0 0 0 rg BT 170.43 533.10 Td (case ) Tj ET Q q 0 0 0 rg BT 190.10 533.10 Td (a ) Tj ET Q q 0 0 0 rg BT 197.01 533.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 216.69 533.10 Td (or ) Tj ET Q q 0 0 0 rg BT 227.49 533.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 245.52 533.10 Td (would ) Tj ET Q q 0 0 0 rg BT 272.99 533.10 Td (be ) Tj ET Q q 0 0 0 rg BT 284.90 533.10 Td (recognized. ) Tj ET Q q 0 0 0 rg BT 333.73 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.65 533.10 Td (A) Tj ET Q q 0 0 0 rg BT 342.32 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 344.79 533.10 Td (disposal ) Tj ET Q q 0 0 0 rg BT 380.03 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 390.83 533.10 Td (25% ) Tj ET Q q 0 0 0 rg BT 411.63 533.10 Td (or ) Tj ET Q q 0 0 0 rg BT 422.43 533.10 Td (more ) Tj ET Q q 0 0 0 rg BT 445.44 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 456.24 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 472.04 533.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 502.28 533.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 537.50 533.10 Td (would ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (be ) Tj ET Q q 0 0 0 rg BT 61.44 521.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 107.25 521.10 Td (significant. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 497.10 Td (Depletion ) Tj ET Q q 0 0 0 rg BT 112.45 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.42 497.10 Td (Depr) Tj ET Q q 0 0 0 rg BT 153.90 497.10 Td (eciation.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.72 497.10 Td (The ) Tj ET Q q 0 0 0 rg BT 214.12 497.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 237.96 497.10 Td (capitalized, ) Tj ET Q q 0 0 0 rg BT 287.61 497.10 Td (including ) Tj ET Q q 0 0 0 rg BT 329.23 497.10 Td (production ) Tj ET Q q 0 0 0 rg BT 376.40 497.10 Td (equipment ) Tj ET Q q 0 0 0 rg BT 422.45 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 440.74 497.10 Td (future ) Tj ET Q q 0 0 0 rg BT 468.46 497.10 Td (development ) Tj ET Q q 0 0 0 rg BT 523.95 497.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 550.30 497.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (depleted ) Tj ET Q q 0 0 0 rg BT 87.01 485.10 Td (or ) Tj ET Q q 0 0 0 rg BT 98.97 485.10 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 148.68 485.10 Td (using ) Tj ET Q q 0 0 0 rg BT 173.99 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 189.84 485.10 Td (unit-of-production ) Tj ET Q q 0 0 0 rg BT 267.35 485.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 303.48 485.10 Td (based ) Tj ET Q q 0 0 0 rg BT 329.88 485.10 Td (on ) Tj ET Q q 0 0 0 rg BT 343.51 485.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 374.92 485.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 389.11 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 407.18 485.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 438.58 485.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 455.54 485.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 491.93 485.10 Td (as ) Tj ET Q q 0 0 0 rg BT 503.90 485.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 552.51 485.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 100.79 473.10 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 143.75 473.10 Td (engineers.��Oil ) Tj ET Q q 0 0 0 rg BT 204.77 473.10 Td (and ) Tj ET Q q 0 0 0 rg BT 221.62 473.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 251.81 473.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 267.56 473.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 302.73 473.10 Td (are ) Tj ET Q q 0 0 0 rg BT 317.36 473.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 359.20 473.10 Td (to ) Tj ET Q q 0 0 0 rg BT 369.40 473.10 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 413.47 473.10 Td (units ) Tj ET Q q 0 0 0 rg BT 435.34 473.10 Td (on ) Tj ET Q q 0 0 0 rg BT 447.76 473.10 Td (a ) Tj ET Q q 0 0 0 rg BT 454.62 473.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 477.04 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 487.79 473.10 Td (6,000 ) Tj ET Q q 0 0 0 rg BT 512.71 473.10 Td (cubic ) Tj ET Q q 0 0 0 rg BT 536.78 473.10 Td (feet ) Tj ET Q q 0 0 0 rg BT 554.19 473.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 79.76 461.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 95.59 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 105.87 461.10 Td (one ) Tj ET Q q 0 0 0 rg BT 122.81 461.10 Td (barrel ) Tj ET Q q 0 0 0 rg BT 148.63 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 159.46 461.10 Td (crude ) Tj ET Q q 0 0 0 rg BT 184.16 461.10 Td (oil.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 437.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 95.12 437.10 Td (full ) Tj ET Q q 0 0 0 rg BT 111.64 437.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 130.39 437.10 Td (accounting, ) Tj ET Q q 0 0 0 rg BT 179.39 437.10 Td (we ) Tj ET Q q 0 0 0 rg BT 193.68 437.10 Td (may ) Tj ET Q q 0 0 0 rg BT 213.53 437.10 Td (exclude ) Tj ET Q q 0 0 0 rg BT 247.26 437.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 277.10 437.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 328.04 437.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 350.67 437.10 Td (from ) Tj ET Q q 0 0 0 rg BT 372.75 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 387.60 437.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 440.77 437.10 Td (base ) Tj ET Q q 0 0 0 rg BT 461.17 437.10 Td (pending ) Tj ET Q q 0 0 0 rg BT 496.02 437.10 Td (determination ) Tj ET Q q 0 0 0 rg BT 554.19 437.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 84.69 425.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 115.44 425.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 151.18 425.10 Td (can ) Tj ET Q q 0 0 0 rg BT 168.04 425.10 Td (be ) Tj ET Q q 0 0 0 rg BT 180.45 425.10 Td (assigned ) Tj ET Q q 0 0 0 rg BT 217.87 425.10 Td (to ) Tj ET Q q 0 0 0 rg BT 228.63 425.10 Td (such ) Tj ET Q q 0 0 0 rg BT 249.94 425.10 Td (properties.��) Tj ET Q q 0 0 0 rg BT 297.25 425.10 Td (The ) Tj ET Q q 0 0 0 rg BT 315.78 425.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 338.76 425.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 379.50 425.10 Td (as ) Tj ET Q q 0 0 0 rg BT 390.81 425.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 442.10 425.10 Td (are ) Tj ET Q q 0 0 0 rg BT 457.29 425.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 503.58 425.10 Td (to ) Tj ET Q q 0 0 0 rg BT 514.34 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 529.54 425.10 Td (full ) Tj ET Q q 0 0 0 rg BT 546.40 425.10 Td (cost ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 103.13 413.10 Td (base ) Tj ET Q q 0 0 0 rg BT 123.98 413.10 Td (as ) Tj ET Q q 0 0 0 rg BT 135.40 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.71 413.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 193.78 413.10 Td (are ) Tj ET Q q 0 0 0 rg BT 209.08 413.10 Td (developed, ) Tj ET Q q 0 0 0 rg BT 255.76 413.10 Td (tested ) Tj ET Q q 0 0 0 rg BT 282.17 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 299.70 413.10 Td (evaluated. ) Tj ET Q q 0 0 0 rg BT 343.60 413.10 Td ( ) Tj ET Q q 0 0 0 rg BT 346.00 413.10 Td (At ) Tj ET Q q 0 0 0 rg BT 359.09 413.10 Td (least ) Tj ET Q q 0 0 0 rg BT 380.51 413.10 Td (annually) Tj ET Q q 0 0 0 rg BT 414.29 413.10 Td (, ) Tj ET Q q 0 0 0 rg BT 419.88 413.10 Td (we ) Tj ET Q q 0 0 0 rg BT 434.63 413.10 Td (test ) Tj ET Q q 0 0 0 rg BT 451.60 413.10 Td (these ) Tj ET Q q 0 0 0 rg BT 475.24 413.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 501.66 413.10 Td (for ) Tj ET Q q 0 0 0 rg BT 516.40 413.10 Td (impairment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (based ) Tj ET Q q 0 0 0 rg BT 74.68 401.10 Td (on ) Tj ET Q q 0 0 0 rg BT 87.09 401.10 Td (an ) Tj ET Q q 0 0 0 rg BT 98.94 401.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 143.00 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.74 401.10 Td (management�) Tj ET Q q 0 0 0 rg BT 207.60 401.10 Td (s ) Tj ET Q q 0 0 0 rg BT 213.90 401.10 Td (expectations ) Tj ET Q q 0 0 0 rg BT 266.29 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 277.03 401.10 Td (future ) Tj ET Q q 0 0 0 rg BT 303.32 401.10 Td (pricing, ) Tj ET Q q 0 0 0 rg BT 336.56 401.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 380.62 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 391.36 401.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 413.75 401.10 Td (expiration ) Tj ET Q q 0 0 0 rg BT 456.70 401.10 Td (terms, ) Tj ET Q q 0 0 0 rg BT 483.83 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 500.68 401.10 Td (planned ) Tj ET Q q 0 0 0 rg BT 534.74 401.10 Td (project ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (development ) Tj ET Q q 0 0 0 rg BT 103.97 389.10 Td (activities. ) Tj ET Q q 0 0 0 rg BT 145.38 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 147.58 389.10 Td (As ) Tj ET Q q 0 0 0 rg BT 161.51 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 168.76 389.10 Td (result ) Tj ET Q q 0 0 0 rg BT 193.79 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 204.94 389.10 Td (this ) Tj ET Q q 0 0 0 rg BT 222.21 389.10 Td (analysis, ) Tj ET Q q 0 0 0 rg BT 259.74 389.10 Td (we ) Tj ET Q q 0 0 0 rg BT 274.22 389.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 320.89 389.10 Td (impairments ) Tj ET Q q 0 0 0 rg BT 373.70 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 384.85 389.10 Td (our ) Tj ET Q q 0 0 0 rg BT 400.99 389.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 452.12 389.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 474.94 389.10 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.31 389.10 Td ($21.4 ) Tj ET Q q 0 0 0 rg BT 533.62 389.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.33 377.10 Td ($21.0 ) Tj ET Q q 0 0 0 rg BT 91.23 377.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.12 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.51 377.10 Td (during ) Tj ET Q q 0 0 0 rg BT 151.01 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 165.63 377.10 Td (years ) Tj ET Q q 0 0 0 rg BT 189.12 377.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 215.39 377.10 Td (December ) Tj ET Q q 0 0 0 rg BT 258.87 377.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 273.76 377.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 296.16 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 312.99 377.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 337.88 377.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 385.54 377.10 Td (, ) Tj ET Q q 0 0 0 rg BT 390.44 377.10 Td (whereby ) Tj ET Q q 0 0 0 rg BT 427.26 377.10 Td (these ) Tj ET Q q 0 0 0 rg BT 450.20 377.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 472.59 377.10 Td (were ) Tj ET Q q 0 0 0 rg BT 494.42 377.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 540.12 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 550.29 377.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (full ) Tj ET Q q 0 0 0 rg BT 66.43 365.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 85.58 365.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 139.16 365.10 Td (base. ) Tj ET Q q 0 0 0 rg BT 162.47 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 165.30 365.10 Td (W) Tj ET Q q 0 0 0 rg BT 173.94 365.10 Td (e ) Tj ET Q q 0 0 0 rg BT 181.42 365.10 Td (did ) Tj ET Q q 0 0 0 rg BT 197.24 365.10 Td (not ) Tj ET Q q 0 0 0 rg BT 213.06 365.10 Td (record ) Tj ET Q q 0 0 0 rg BT 241.64 365.10 Td (any ) Tj ET Q q 0 0 0 rg BT 259.12 365.10 Td (impairments ) Tj ET Q q 0 0 0 rg BT 312.16 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 323.53 365.10 Td (our ) Tj ET Q q 0 0 0 rg BT 339.90 365.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 391.26 365.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 414.30 365.10 Td (during ) Tj ET Q q 0 0 0 rg BT 443.45 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 458.71 365.10 Td (year ) Tj ET Q q 0 0 0 rg BT 478.96 365.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 505.88 365.10 Td (December ) Tj ET Q q 0 0 0 rg BT 550.01 365.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 341.10 Td ( ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 329.10 Td (W) Tj ET Q q 0 0 0 rg BT 77.32 329.10 Td (rite-Down ) Tj ET Q q 0 0 0 rg BT 123.48 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.64 329.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 150.81 329.10 Td (and ) Tj ET Q q 0 0 0 rg BT 169.77 329.10 Td (Natural ) Tj ET Q q 0 0 0 rg BT 205.94 329.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 225.44 329.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 235.81 329.10 Td (operties.�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.69 329.10 Td (The ) Tj ET Q q 0 0 0 rg BT 293.07 329.10 Td (net ) Tj ET Q q 0 0 0 rg BT 308.12 329.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 354.26 329.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 377.10 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 388.27 329.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 401.66 329.10 Td (and ) Tj ET Q q 0 0 0 rg BT 418.93 329.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 449.53 329.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 465.70 329.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 508.52 329.10 Td (are ) Tj ET Q q 0 0 0 rg BT 523.56 329.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 554.73 329.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.51 317.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 90.07 317.10 Td (of ) Tj ET Q q 0 0 0 rg BT 101.19 317.10 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 153.97 317.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 172.87 317.10 Td (or ) Tj ET Q q 0 0 0 rg BT 183.99 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.00 317.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 217.90 317.10 Td (center ) Tj ET Q q 0 0 0 rg BT 245.12 317.10 Td (ceiling.��) Tj ET Q q 0 0 0 rg BT 279.65 317.10 Td (The ) Tj ET Q q 0 0 0 rg BT 297.99 317.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 316.89 317.10 Td (center ) Tj ET Q q 0 0 0 rg BT 344.11 317.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 374.11 317.10 Td (is ) Tj ET Q q 0 0 0 rg BT 383.58 317.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 416.36 317.10 Td (as ) Tj ET Q q 0 0 0 rg BT 427.48 317.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 441.93 317.10 Td (the ) Tj ET Q q 0 0 0 rg BT 456.94 317.10 Td (present ) Tj ET Q q 0 0 0 rg BT 488.61 317.10 Td (value ) Tj ET Q q 0 0 0 rg BT 513.06 317.10 Td (of ) Tj ET Q q 0 0 0 rg BT 524.18 317.10 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (future ) Tj ET Q q 0 0 0 rg BT 75.96 305.10 Td (net ) Tj ET Q q 0 0 0 rg BT 90.75 305.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 128.87 305.10 Td (from ) Tj ET Q q 0 0 0 rg BT 150.89 305.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 181.24 305.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 194.37 305.10 Td (and ) Tj ET Q q 0 0 0 rg BT 211.39 305.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 241.73 305.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 257.64 305.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 292.98 305.10 Td (before ) Tj ET Q q 0 0 0 rg BT 321.10 305.10 Td (future ) Tj ET Q q 0 0 0 rg BT 347.55 305.10 Td (abandonment ) Tj ET Q q 0 0 0 rg BT 404.01 305.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 426.59 305.10 Td (\(discounted ) Tj ET Q q 0 0 0 rg BT 475.82 305.10 Td (at ) Tj ET Q q 0 0 0 rg BT 485.62 305.10 Td (10%\), ) Tj ET Q q 0 0 0 rg BT 512.36 305.10 Td (based ) Tj ET Q q 0 0 0 rg BT 537.71 305.10 Td (on ) Tj ET Q q 0 0 0 rg BT 550.28 305.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (average ) Tj ET Q q 0 0 0 rg BT 83.69 293.10 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 176.76 293.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 190.42 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 207.96 293.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 238.83 293.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 255.26 293.10 Td (price ) Tj ET Q q 0 0 0 rg BT 278.35 293.10 Td (for ) Tj ET Q q 0 0 0 rg BT 293.11 293.10 Td (each ) Tj ET Q q 0 0 0 rg BT 314.53 293.10 Td (month ) Tj ET Q q 0 0 0 rg BT 343.19 293.10 Td (during ) Tj ET Q q 0 0 0 rg BT 372.40 293.10 Td (a ) Tj ET Q q 0 0 0 rg BT 379.94 293.10 Td (12-month ) Tj ET Q q 0 0 0 rg BT 421.93 293.10 Td (rolling ) Tj ET Q q 0 0 0 rg BT 451.70 293.10 Td (period ) Tj ET Q q 0 0 0 rg BT 480.35 293.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 502.89 293.10 Td (to ) Tj ET Q q 0 0 0 rg BT 513.77 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 529.09 293.10 Td (end ) Tj ET Q q 0 0 0 rg BT 546.64 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 558.07 293.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (particular ) Tj ET Q q 0 0 0 rg BT 90.53 281.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 129.90 281.10 Td (period; ) Tj ET Q q 0 0 0 rg BT 160.94 281.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 180.33 281.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 194.71 281.10 Td (the ) Tj ET Q q 0 0 0 rg BT 209.64 281.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 228.47 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 239.51 281.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 282.22 281.10 Td (not ) Tj ET Q q 0 0 0 rg BT 297.71 281.10 Td (being ) Tj ET Q q 0 0 0 rg BT 322.65 281.10 Td (amortized; ) Tj ET Q q 0 0 0 rg BT 368.12 281.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 387.51 281.10 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 401.89 281.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.82 281.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 442.31 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 453.35 281.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 472.18 281.10 Td (or ) Tj ET Q q 0 0 0 rg BT 483.23 281.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 524.27 281.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.86 281.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.35 269.10 Td (unproved ) Tj ET Q q 0 0 0 rg BT 100.63 269.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 143.13 269.10 Td (included ) Tj ET Q q 0 0 0 rg BT 180.08 269.10 Td (in ) Tj ET Q q 0 0 0 rg BT 190.38 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 205.11 269.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 227.63 269.10 Td (being ) Tj ET Q q 0 0 0 rg BT 252.36 269.10 Td (amortized, ) Tj ET Q q 0 0 0 rg BT 297.35 269.10 Td (if ) Tj ET Q q 0 0 0 rg BT 305.98 269.10 Td (any; ) Tj ET Q q 0 0 0 rg BT 325.71 269.10 Td (less ) Tj ET Q q 0 0 0 rg BT 343.23 269.10 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 357.40 269.10 Td (related ) Tj ET Q q 0 0 0 rg BT 387.12 269.10 Td (income ) Tj ET Q q 0 0 0 rg BT 419.07 269.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 433.81 269.10 Td (ef) Tj ET Q q 0 0 0 rg BT 441.39 269.10 Td (fects.��Our ) Tj ET Q q 0 0 0 rg BT 485.84 269.10 Td (future ) Tj ET Q q 0 0 0 rg BT 512.23 269.10 Td (net ) Tj ET Q q 0 0 0 rg BT 526.96 269.10 Td (revenues ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.58 257.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 101.98 257.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 115.18 257.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.25 257.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 162.66 257.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 178.63 257.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 214.02 257.10 Td (are ) Tj ET Q q 0 0 0 rg BT 228.87 257.10 Td (not ) Tj ET Q q 0 0 0 rg BT 244.28 257.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 278.57 257.10 Td (for ) Tj ET Q q 0 0 0 rg BT 292.87 257.10 Td (development ) Tj ET Q q 0 0 0 rg BT 347.15 257.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 369.79 257.10 Td (related ) Tj ET Q q 0 0 0 rg BT 399.63 257.10 Td (to ) Tj ET Q q 0 0 0 rg BT 410.05 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.90 257.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 443.65 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.62 257.10 Td (drilling ) Tj ET Q q 0 0 0 rg BT 486.70 257.10 Td (for ) Tj ET Q q 0 0 0 rg BT 501.00 257.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.08 257.10 Td (developing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 63.39 243.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 66.64 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 68.83 245.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 103.77 245.10 Td (nor ) Tj ET Q q 0 0 0 rg BT 119.29 245.10 Td (those ) Tj ET Q q 0 0 0 rg BT 142.58 245.10 Td (related ) Tj ET Q q 0 0 0 rg BT 171.97 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 181.93 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.33 245.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 214.62 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.14 245.10 Td (constructing ) Tj ET Q q 0 0 0 rg BT 276.76 245.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 290.65 243.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.90 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.08 245.10 Td (pipelines, ) Tj ET Q q 0 0 0 rg BT 336.87 245.10 Td (as ) Tj ET Q q 0 0 0 rg BT 347.39 245.10 Td (we ) Tj ET Q q 0 0 0 rg BT 361.23 245.10 Td (do ) Tj ET Q q 0 0 0 rg BT 373.42 245.10 Td (not ) Tj ET Q q 0 0 0 rg BT 388.38 245.10 Td (have ) Tj ET Q q 0 0 0 rg BT 409.44 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 419.41 245.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 442.14 245.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 484.31 245.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 506.50 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.46 245.10 Td (develop ) Tj ET Q q 0 0 0 rg BT 550.30 245.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 79.52 233.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 92.33 233.10 Td (and ) Tj ET Q q 0 0 0 rg BT 109.02 233.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 139.03 233.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 154.61 233.10 Td (reserves.��) Tj ET Q q 0 0 0 rg BT 194.69 233.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 238.86 233.10 Td (we ) Tj ET Q q 0 0 0 rg BT 252.77 233.10 Td (include ) Tj ET Q q 0 0 0 rg BT 284.45 233.10 Td (in ) Tj ET Q q 0 0 0 rg BT 294.48 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 308.95 233.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 338.41 233.10 Td (test, ) Tj ET Q q 0 0 0 rg BT 357.05 233.10 Td (as ) Tj ET Q q 0 0 0 rg BT 367.63 233.10 Td (a ) Tj ET Q q 0 0 0 rg BT 374.32 233.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 414.33 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 424.92 233.10 Td (future ) Tj ET Q q 0 0 0 rg BT 451.04 233.10 Td (net ) Tj ET Q q 0 0 0 rg BT 465.51 233.10 Td (revenues, ) Tj ET Q q 0 0 0 rg BT 505.80 233.10 Td (that ) Tj ET Q q 0 0 0 rg BT 523.04 233.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 554.18 233.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (our ) Tj ET Q q 0 0 0 rg BT 64.84 221.10 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 110.16 221.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 124.06 219.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.31 221.10 Td ( ) Tj ET Q q 0 0 0 rg BT 129.32 221.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 151.33 221.10 Td (related ) Tj ET Q q 0 0 0 rg BT 180.55 221.10 Td (to ) Tj ET Q q 0 0 0 rg BT 190.34 221.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 204.23 219.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.48 221.10 Td ( ) Tj ET Q q 0 0 0 rg BT 209.50 221.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 244.27 221.10 Td (and ) Tj ET Q q 0 0 0 rg BT 260.72 221.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 274.61 219.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.86 221.10 Td ( ) Tj ET Q q 0 0 0 rg BT 279.88 221.10 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 318.00 221.10 Td (that ) Tj ET Q q 0 0 0 rg BT 335.01 221.10 Td (we ) Tj ET Q q 0 0 0 rg BT 348.68 221.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 384.01 221.10 Td (will ) Tj ET Q q 0 0 0 rg BT 401.58 221.10 Td (be ) Tj ET Q q 0 0 0 rg BT 413.04 221.10 Td (consumed ) Tj ET Q q 0 0 0 rg BT 455.60 221.10 Td (in ) Tj ET Q q 0 0 0 rg BT 465.39 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.62 221.10 Td (process ) Tj ET Q q 0 0 0 rg BT 511.63 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 521.97 221.10 Td (producing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.09 209.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 95.12 209.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 107.94 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 124.64 209.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 154.67 209.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 170.26 209.10 Td (reserves.��) Tj ET Q q 0 0 0 rg BT 210.34 209.10 Td (The ) Tj ET Q q 0 0 0 rg BT 228.15 209.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 244.29 209.10 Td (value ) Tj ET Q q 0 0 0 rg BT 268.20 209.10 Td (of ) Tj ET Q q 0 0 0 rg BT 278.80 209.10 Td (our ) Tj ET Q q 0 0 0 rg BT 294.39 209.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 307.21 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 323.91 209.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 353.93 209.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 369.53 209.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 411.77 209.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 450.13 209.10 Td (is ) Tj ET Q q 0 0 0 rg BT 459.06 209.10 Td (not ) Tj ET Q q 0 0 0 rg BT 474.10 209.10 Td (included ) Tj ET Q q 0 0 0 rg BT 510.79 209.10 Td (in ) Tj ET Q q 0 0 0 rg BT 520.83 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 535.31 209.10 Td (ceiling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (test, ) Tj ET Q q 0 0 0 rg BT 68.17 197.10 Td (as ) Tj ET Q q 0 0 0 rg BT 78.78 197.10 Td (we ) Tj ET Q q 0 0 0 rg BT 92.72 197.10 Td (do ) Tj ET Q q 0 0 0 rg BT 105.00 197.10 Td (not ) Tj ET Q q 0 0 0 rg BT 120.06 197.10 Td (designate ) Tj ET Q q 0 0 0 rg BT 160.11 197.10 Td (these ) Tj ET Q q 0 0 0 rg BT 182.94 197.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 221.31 197.10 Td (as ) Tj ET Q q 0 0 0 rg BT 231.93 197.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 258.08 197.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 307.03 197.10 Td (for ) Tj ET Q q 0 0 0 rg BT 320.97 197.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 367.13 197.10 Td (purposes.��) Tj ET Q q 0 0 0 rg BT 410.00 197.10 Td (The ) Tj ET Q q 0 0 0 rg BT 427.83 197.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 446.22 197.10 Td (center ) Tj ET Q q 0 0 0 rg BT 472.92 197.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 502.42 197.10 Td (test ) Tj ET Q q 0 0 0 rg BT 518.58 197.10 Td (is ) Tj ET Q q 0 0 0 rg BT 527.54 197.10 Td (prepared ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (quarterly) Tj ET Q q 0 0 0 rg BT 84.94 185.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 161.10 Td (Declines ) Tj ET Q q 0 0 0 rg BT 106.56 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 118.41 161.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 142.48 161.10 Td (average ) Tj ET Q q 0 0 0 rg BT 177.63 161.10 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 271.67 161.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 312.41 161.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 327.04 161.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 354.98 161.10 Td (used ) Tj ET Q q 0 0 0 rg BT 377.38 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 389.23 161.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 434.96 161.10 Td (our ) Tj ET Q q 0 0 0 rg BT 452.37 161.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 484.20 161.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 521.03 161.10 Td (led ) Tj ET Q q 0 0 0 rg BT 537.32 161.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.17 161.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (recognizing ) Tj ET Q q 0 0 0 rg BT 98.96 149.10 Td (a ) Tj ET Q q 0 0 0 rg BT 105.66 149.10 Td (full ) Tj ET Q q 0 0 0 rg BT 121.80 149.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 140.17 149.10 Td (pool ) Tj ET Q q 0 0 0 rg BT 160.21 149.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 189.68 149.10 Td (test ) Tj ET Q q 0 0 0 rg BT 205.82 149.10 Td (write-down ) Tj ET Q q 0 0 0 rg BT 254.18 149.10 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.99 149.10 Td ($810.9 ) Tj ET Q q 0 0 0 rg BT 316.75 149.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.64 149.10 Td ( ) Tj ET Q q 0 0 0 rg BT 347.90 149.10 Td (during ) Tj ET Q q 0 0 0 rg BT 376.26 149.10 Td (2016. ) Tj ET Q q 0 0 0 rg BT 401.02 149.10 Td ( ) Tj ET Q q 0 0 0 rg BT 403.12 149.10 Td (W) Tj ET Q q 0 0 0 rg BT 411.75 149.10 Td (e ) Tj ET Q q 0 0 0 rg BT 418.45 149.10 Td (did ) Tj ET Q q 0 0 0 rg BT 433.49 149.10 Td (not ) Tj ET Q q 0 0 0 rg BT 448.52 149.10 Td (record ) Tj ET Q q 0 0 0 rg BT 476.32 149.10 Td (any ) Tj ET Q q 0 0 0 rg BT 493.02 149.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 522.49 149.10 Td (test ) Tj ET Q q 0 0 0 rg BT 538.63 149.10 Td (write-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (downs ) Tj ET Q q 0 0 0 rg BT 78.11 137.10 Td (during ) Tj ET Q q 0 0 0 rg BT 106.72 137.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 129.22 137.10 Td (or ) Tj ET Q q 0 0 0 rg BT 140.05 137.10 Td (2018.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 113.10 Td (Joint ) Tj ET Q q 0 0 0 rg BT 91.97 113.10 Td (Inter) Tj ET Q q 0 0 0 rg BT 113.45 113.10 Td (est ) Tj ET Q q 0 0 0 rg BT 127.90 113.10 Td (Operations.� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.48 113.10 Td (Substantially ) Tj ET Q q 0 0 0 rg BT 238.50 113.10 Td (all ) Tj ET Q q 0 0 0 rg BT 251.29 113.10 Td (of ) Tj ET Q q 0 0 0 rg BT 262.42 113.10 Td (our ) Tj ET Q q 0 0 0 rg BT 278.54 113.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 291.90 113.10 Td (and ) Tj ET Q q 0 0 0 rg BT 309.13 113.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 339.69 113.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 355.82 113.10 Td (exploration ) Tj ET Q q 0 0 0 rg BT 404.16 113.10 Td (and ) Tj ET Q q 0 0 0 rg BT 421.39 113.10 Td (production ) Tj ET Q q 0 0 0 rg BT 467.52 113.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 506.41 113.10 Td (are ) Tj ET Q q 0 0 0 rg BT 521.42 113.10 Td (conducted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (jointly ) Tj ET Q q 0 0 0 rg BT 77.67 101.10 Td (with ) Tj ET Q q 0 0 0 rg BT 97.51 101.10 Td (others.��) Tj ET Q q 0 0 0 rg BT 129.27 101.10 Td (These ) Tj ET Q q 0 0 0 rg BT 155.20 101.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 192.24 101.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 236.51 101.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 264.10 101.10 Td (only ) Tj ET Q q 0 0 0 rg BT 283.94 101.10 Td (our ) Tj ET Q q 0 0 0 rg BT 299.32 101.10 Td (proportionate ) Tj ET Q q 0 0 0 rg BT 355.25 101.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 386.75 101.10 Td (in ) Tj ET Q q 0 0 0 rg BT 396.58 101.10 Td (such ) Tj ET Q q 0 0 0 rg BT 416.97 101.10 Td (activities, ) Tj ET Q q 0 0 0 rg BT 457.63 101.10 Td (and ) Tj ET Q q 0 0 0 rg BT 474.12 101.10 Td (any ) Tj ET Q q 0 0 0 rg BT 490.62 101.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 526.57 101.10 Td (due ) Tj ET Q q 0 0 0 rg BT 543.06 101.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.10 Td (other ) Tj ET Q q 0 0 0 rg BT 72.55 89.10 Td (partners ) Tj ET Q q 0 0 0 rg BT 107.25 89.10 Td (are ) Tj ET Q q 0 0 0 rg BT 121.96 89.10 Td (included ) Tj ET Q q 0 0 0 rg BT 158.89 89.10 Td (in ) Tj ET Q q 0 0 0 rg BT 169.17 89.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 191.66 89.10 Td (receivables.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.10 Td (�) Tj ET Q endstream endobj 145 0 obj <> endobj 146 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (72) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 713.25 Td (T) Tj ET Q q 0 0 0 rg BT 73.25 713.25 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 104.64 713.25 Td (Injection ) Tj ET Q q 0 0 0 rg BT 144.93 713.25 Td (Costs.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.77 713.25 Td (��Our ) Tj ET Q q 0 0 0 rg BT 193.28 713.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 224.12 713.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 267.73 713.25 Td (are ) Tj ET Q q 0 0 0 rg BT 281.90 713.25 Td (conducted ) Tj ET Q q 0 0 0 rg BT 324.96 713.25 Td (in ) Tj ET Q q 0 0 0 rg BT 334.70 713.25 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 376.09 713.25 Td (that ) Tj ET Q q 0 0 0 rg BT 393.05 713.25 Td (have ) Tj ET Q q 0 0 0 rg BT 413.89 713.25 Td (already ) Tj ET Q q 0 0 0 rg BT 445.28 713.25 Td (produced ) Tj ET Q q 0 0 0 rg BT 484.45 713.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 528.62 713.25 Td (amounts ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.25 Td (of ) Tj ET Q q 0 0 0 rg BT 61.15 701.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 75.02 701.25 Td (over ) Tj ET Q q 0 0 0 rg BT 96.11 701.25 Td (many ) Tj ET Q q 0 0 0 rg BT 121.64 701.25 Td (years; ) Tj ET Q q 0 0 0 rg BT 148.83 701.25 Td (however) Tj ET Q q 0 0 0 rg BT 182.86 701.25 Td (, ) Tj ET Q q 0 0 0 rg BT 188.68 701.25 Td (in ) Tj ET Q q 0 0 0 rg BT 199.77 701.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 248.05 701.25 Td (with ) Tj ET Q q 0 0 0 rg BT 269.15 701.25 Td (the ) Tj ET Q q 0 0 0 rg BT 284.68 701.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 306.34 701.25 Td (rules ) Tj ET Q q 0 0 0 rg BT 329.09 701.25 Td (and ) Tj ET Q q 0 0 0 rg BT 346.85 701.25 Td (regulations ) Tj ET Q q 0 0 0 rg BT 394.60 701.25 Td (for ) Tj ET Q q 0 0 0 rg BT 409.58 701.25 Td (recording ) Tj ET Q q 0 0 0 rg BT 451.21 701.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 482.29 701.25 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 520.87 701.25 Td (we ) Tj ET Q q 0 0 0 rg BT 535.85 701.25 Td (cannot ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.25 Td (recognize ) Tj ET Q q 0 0 0 rg BT 92.54 689.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 124.49 689.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 161.43 689.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 206.71 689.25 Td (with ) Tj ET Q q 0 0 0 rg BT 228.67 689.25 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 270.60 689.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 309.76 689.25 Td (techniques, ) Tj ET Q q 0 0 0 rg BT 359.20 689.25 Td (such ) Tj ET Q q 0 0 0 rg BT 381.71 689.25 Td (as ) Tj ET Q q 0 0 0 rg BT 394.22 689.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 408.11 687.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.36 689.25 Td ( ) Tj ET Q q 0 0 0 rg BT 415.54 689.25 Td (injection, ) Tj ET Q q 0 0 0 rg BT 457.21 689.25 Td (until ) Tj ET Q q 0 0 0 rg BT 479.73 689.25 Td (we ) Tj ET Q q 0 0 0 rg BT 495.57 689.25 Td (can ) Tj ET Q q 0 0 0 rg BT 513.63 689.25 Td (demonstrate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (production ) Tj ET Q q 0 0 0 rg BT 95.33 677.25 Td (resulting ) Tj ET Q q 0 0 0 rg BT 132.82 677.25 Td (from ) Tj ET Q q 0 0 0 rg BT 154.76 677.25 Td (the ) Tj ET Q q 0 0 0 rg BT 169.48 677.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 200.85 677.25 Td (process ) Tj ET Q q 0 0 0 rg BT 233.34 677.25 Td (or ) Tj ET Q q 0 0 0 rg BT 244.17 677.25 Td (unless ) Tj ET Q q 0 0 0 rg BT 271.67 677.25 Td (the ) Tj ET Q q 0 0 0 rg BT 286.38 677.25 Td (field ) Tj ET Q q 0 0 0 rg BT 307.21 677.25 Td (is ) Tj ET Q q 0 0 0 rg BT 316.38 677.25 Td (analogous ) Tj ET Q q 0 0 0 rg BT 359.43 677.25 Td (to ) Tj ET Q q 0 0 0 rg BT 369.71 677.25 Td (an ) Tj ET Q q 0 0 0 rg BT 381.64 677.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 415.81 677.25 Td (flood.��) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 653.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 653.25 Td (e ) Tj ET Q q 0 0 0 rg BT 83.17 653.25 Td (capitalize, ) Tj ET Q q 0 0 0 rg BT 126.56 653.25 Td (as ) Tj ET Q q 0 0 0 rg BT 137.48 653.25 Td (a ) Tj ET Q q 0 0 0 rg BT 144.51 653.25 Td (development ) Tj ET Q q 0 0 0 rg BT 198.75 653.25 Td (cost, ) Tj ET Q q 0 0 0 rg BT 219.95 653.25 Td (injection ) Tj ET Q q 0 0 0 rg BT 257.53 653.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 280.12 653.25 Td (in ) Tj ET Q q 0 0 0 rg BT 290.49 653.25 Td (fields ) Tj ET Q q 0 0 0 rg BT 315.30 653.25 Td (that ) Tj ET Q q 0 0 0 rg BT 332.88 653.25 Td (are ) Tj ET Q q 0 0 0 rg BT 347.68 653.25 Td (in ) Tj ET Q q 0 0 0 rg BT 358.05 653.25 Td (their ) Tj ET Q q 0 0 0 rg BT 378.96 653.25 Td (development ) Tj ET Q q 0 0 0 rg BT 433.21 653.25 Td (stage, ) Tj ET Q q 0 0 0 rg BT 458.84 653.25 Td (which ) Tj ET Q q 0 0 0 rg BT 485.87 653.25 Td (means ) Tj ET Q q 0 0 0 rg BT 514.01 653.25 Td (we ) Tj ET Q q 0 0 0 rg BT 528.26 653.25 Td (have ) Tj ET Q q 0 0 0 rg BT 549.73 653.25 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.25 Td (yet ) Tj ET Q q 0 0 0 rg BT 64.29 641.25 Td (seen ) Tj ET Q q 0 0 0 rg BT 84.63 641.25 Td (incremental ) Tj ET Q q 0 0 0 rg BT 134.41 641.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 147.54 641.25 Td (production ) Tj ET Q q 0 0 0 rg BT 193.44 641.25 Td (due ) Tj ET Q q 0 0 0 rg BT 210.45 641.25 Td (to ) Tj ET Q q 0 0 0 rg BT 220.80 641.25 Td (the ) Tj ET Q q 0 0 0 rg BT 235.60 641.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 249.49 639.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.74 641.25 Td ( ) Tj ET Q q 0 0 0 rg BT 255.31 641.25 Td (injections ) Tj ET Q q 0 0 0 rg BT 296.77 641.25 Td (\(i.e., ) Tj ET Q q 0 0 0 rg BT 317.39 641.25 Td (a ) Tj ET Q q 0 0 0 rg BT 324.40 641.25 Td (production ) Tj ET Q q 0 0 0 rg BT 370.30 641.25 Td (response\).��) Tj ET Q q 0 0 0 rg BT 415.94 641.25 Td (These ) Tj ET Q q 0 0 0 rg BT 442.39 641.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 488.27 641.25 Td (development ) Tj ET Q q 0 0 0 rg BT 542.50 641.25 Td (costs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (are ) Tj ET Q q 0 0 0 rg BT 63.22 629.25 Td (included ) Tj ET Q q 0 0 0 rg BT 99.17 629.25 Td (in ) Tj ET Q q 0 0 0 rg BT 108.47 629.25 Td (our ) Tj ET Q q 0 0 0 rg BT 123.31 629.25 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 173.14 629.25 Td (property ) Tj ET Q q 0 0 0 rg BT 208.53 629.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 230.05 629.25 Td (if ) Tj ET Q q 0 0 0 rg BT 237.67 629.25 Td (there ) Tj ET Q q 0 0 0 rg BT 259.18 629.25 Td (are ) Tj ET Q q 0 0 0 rg BT 272.90 629.25 Td (not ) Tj ET Q q 0 0 0 rg BT 287.19 629.25 Td (already ) Tj ET Q q 0 0 0 rg BT 318.13 629.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 347.42 629.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 377.81 629.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 412.08 629.25 Td (in ) Tj ET Q q 0 0 0 rg BT 421.38 629.25 Td (that ) Tj ET Q q 0 0 0 rg BT 437.89 629.25 Td (field.��) Tj ET Q q 0 0 0 rg BT 463.16 629.25 Td (After ) Tj ET Q q 0 0 0 rg BT 485.77 629.25 Td (we ) Tj ET Q q 0 0 0 rg BT 498.95 629.25 Td (see ) Tj ET Q q 0 0 0 rg BT 513.24 629.25 Td (a ) Tj ET Q q 0 0 0 rg BT 519.19 629.25 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (response ) Tj ET Q q 0 0 0 rg BT 86.99 617.25 Td (to ) Tj ET Q q 0 0 0 rg BT 97.26 617.25 Td (the ) Tj ET Q q 0 0 0 rg BT 111.98 617.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 125.87 615.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.12 617.25 Td ( ) Tj ET Q q 0 0 0 rg BT 131.61 617.25 Td (injections ) Tj ET Q q 0 0 0 rg BT 172.99 617.25 Td (\(i.e., ) Tj ET Q q 0 0 0 rg BT 193.53 617.25 Td (the ) Tj ET Q q 0 0 0 rg BT 208.25 617.25 Td (production ) Tj ET Q q 0 0 0 rg BT 254.07 617.25 Td (stage\), ) Tj ET Q q 0 0 0 rg BT 282.94 617.25 Td (injection ) Tj ET Q q 0 0 0 rg BT 320.43 617.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 342.93 617.25 Td (are ) Tj ET Q q 0 0 0 rg BT 357.63 617.25 Td (expensed ) Tj ET Q q 0 0 0 rg BT 397.33 617.25 Td (as ) Tj ET Q q 0 0 0 rg BT 408.16 617.25 Td (incurred, ) Tj ET Q q 0 0 0 rg BT 446.47 617.25 Td (and ) Tj ET Q q 0 0 0 rg BT 463.41 617.25 Td (once ) Tj ET Q q 0 0 0 rg BT 484.78 617.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 515.05 617.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 550.30 617.25 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (recognized, ) Tj ET Q q 0 0 0 rg BT 98.36 605.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 143.08 605.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 178.88 605.25 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 229.70 605.25 Td (development ) Tj ET Q q 0 0 0 rg BT 283.85 605.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 306.35 605.25 Td (become ) Tj ET Q q 0 0 0 rg BT 339.94 605.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 370.76 605.25 Td (to ) Tj ET Q q 0 0 0 rg BT 381.04 605.25 Td (depletion.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (CO) Tj ET Q BT /F2 10.00 Tf ET BT /F2 6.50 Tf ET q 0 0 0 rg BT 64.50 579.82 Td (2) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.75 581.25 Td ( Pr) Tj ET Q q 0 0 0 rg BT 80.62 581.25 Td (operties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 557.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 557.25 Td (e ) Tj ET Q q 0 0 0 rg BT 83.21 557.25 Td (own ) Tj ET Q q 0 0 0 rg BT 103.06 557.25 Td (and ) Tj ET Q q 0 0 0 rg BT 120.12 557.25 Td (produce ) Tj ET Q q 0 0 0 rg BT 154.96 557.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 168.85 555.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.10 557.25 Td ( ) Tj ET Q q 0 0 0 rg BT 174.73 557.25 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 212.62 557.25 Td (a ) Tj ET Q q 0 0 0 rg BT 219.69 557.25 Td (non-hydrocarbon ) Tj ET Q q 0 0 0 rg BT 291.18 557.25 Td (resource, ) Tj ET Q q 0 0 0 rg BT 330.18 557.25 Td (that ) Tj ET Q q 0 0 0 rg BT 347.81 557.25 Td (are ) Tj ET Q q 0 0 0 rg BT 362.64 557.25 Td (used ) Tj ET Q q 0 0 0 rg BT 383.60 557.25 Td (in ) Tj ET Q q 0 0 0 rg BT 394.01 557.25 Td (our ) Tj ET Q q 0 0 0 rg BT 409.97 557.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 441.47 557.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 454.66 557.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 492.26 557.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 536.55 557.25 Td (on ) Tj ET Q q 0 0 0 rg BT 549.17 557.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.25 Td (own ) Tj ET Q q 0 0 0 rg BT 68.32 545.25 Td (behalf ) Tj ET Q q 0 0 0 rg BT 94.90 545.25 Td (and ) Tj ET Q q 0 0 0 rg BT 110.94 545.25 Td (on ) Tj ET Q q 0 0 0 rg BT 122.53 545.25 Td (behalf ) Tj ET Q q 0 0 0 rg BT 149.11 545.25 Td (of ) Tj ET Q q 0 0 0 rg BT 159.04 545.25 Td (other ) Tj ET Q q 0 0 0 rg BT 181.18 545.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 212.21 545.25 Td (owners ) Tj ET Q q 0 0 0 rg BT 242.69 545.25 Td (in ) Tj ET Q q 0 0 0 rg BT 252.07 545.25 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 291.42 545.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 327.99 545.25 Td (fields, ) Tj ET Q q 0 0 0 rg BT 354.30 545.25 Td (with ) Tj ET Q q 0 0 0 rg BT 373.68 545.25 Td (a ) Tj ET Q q 0 0 0 rg BT 379.71 545.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 410.20 545.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 428.46 545.25 Td (to ) Tj ET Q q 0 0 0 rg BT 437.84 545.25 Td (third-party ) Tj ET Q q 0 0 0 rg BT 482.20 545.25 Td (industrial ) Tj ET Q q 0 0 0 rg BT 521.57 545.25 Td (users.��) Tj ET Q q 0 0 0 rg BT 549.44 545.25 Td (W) Tj ET Q q 0 0 0 rg BT 558.08 545.25 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (record ) Tj ET Q q 0 0 0 rg BT 77.27 533.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 111.15 533.25 Td (from ) Tj ET Q q 0 0 0 rg BT 132.82 533.25 Td (our ) Tj ET Q q 0 0 0 rg BT 148.39 533.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 170.06 533.25 Td (of ) Tj ET Q q 0 0 0 rg BT 180.62 533.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 194.51 531.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.76 533.25 Td ( ) Tj ET Q q 0 0 0 rg BT 200.00 533.25 Td (to ) Tj ET Q q 0 0 0 rg BT 210.01 533.25 Td (third ) Tj ET Q q 0 0 0 rg BT 231.13 533.25 Td (parties ) Tj ET Q q 0 0 0 rg BT 260.02 533.25 Td (when ) Tj ET Q q 0 0 0 rg BT 283.91 533.25 Td (it ) Tj ET Q q 0 0 0 rg BT 291.70 533.25 Td (is ) Tj ET Q q 0 0 0 rg BT 300.61 533.25 Td (produced ) Tj ET Q q 0 0 0 rg BT 340.05 533.25 Td (and ) Tj ET Q q 0 0 0 rg BT 356.72 533.25 Td (sold.��Expenses ) Tj ET Q q 0 0 0 rg BT 420.89 533.25 Td (related ) Tj ET Q q 0 0 0 rg BT 450.33 533.25 Td (to ) Tj ET Q q 0 0 0 rg BT 460.34 533.25 Td (the ) Tj ET Q q 0 0 0 rg BT 474.79 533.25 Td (production ) Tj ET Q q 0 0 0 rg BT 520.35 533.25 Td (of ) Tj ET Q q 0 0 0 rg BT 530.92 533.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 544.81 531.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.06 533.25 Td ( ) Tj ET Q q 0 0 0 rg BT 550.29 533.25 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.25 Td (allocated ) Tj ET Q q 0 0 0 rg BT 90.15 521.25 Td (between ) Tj ET Q q 0 0 0 rg BT 128.03 521.25 Td (volumes ) Tj ET Q q 0 0 0 rg BT 166.48 521.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 187.72 521.25 Td (to ) Tj ET Q q 0 0 0 rg BT 200.06 521.25 Td (third ) Tj ET Q q 0 0 0 rg BT 223.51 521.25 Td (parties ) Tj ET Q q 0 0 0 rg BT 254.73 521.25 Td (and ) Tj ET Q q 0 0 0 rg BT 273.74 521.25 Td (volumes ) Tj ET Q q 0 0 0 rg BT 312.19 521.25 Td (consumed ) Tj ET Q q 0 0 0 rg BT 357.30 521.25 Td (internally ) Tj ET Q q 0 0 0 rg BT 400.18 521.25 Td (that ) Tj ET Q q 0 0 0 rg BT 419.74 521.25 Td (are ) Tj ET Q q 0 0 0 rg BT 436.51 521.25 Td (directly ) Tj ET Q q 0 0 0 rg BT 471.62 521.25 Td (related ) Tj ET Q q 0 0 0 rg BT 503.39 521.25 Td (to ) Tj ET Q q 0 0 0 rg BT 515.73 521.25 Td (our ) Tj ET Q q 0 0 0 rg BT 533.62 521.25 Td (tertiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.25 Td (production.��) Tj ET Q q 0 0 0 rg BT 100.14 509.25 Td (The ) Tj ET Q q 0 0 0 rg BT 118.25 509.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 156.92 509.25 Td (related ) Tj ET Q q 0 0 0 rg BT 186.68 509.25 Td (to ) Tj ET Q q 0 0 0 rg BT 197.02 509.25 Td (third-party ) Tj ET Q q 0 0 0 rg BT 242.35 509.25 Td (sales ) Tj ET Q q 0 0 0 rg BT 264.35 509.25 Td (are ) Tj ET Q q 0 0 0 rg BT 279.12 509.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 316.66 509.25 Td (in ) Tj ET Q q 0 0 0 rg BT 327.00 509.25 Td (�CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 345.33 507.82 Td (2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.25 509.25 Td (discovery ) Tj ET Q q 0 0 0 rg BT 391.69 509.25 Td (and ) Tj ET Q q 0 0 0 rg BT 408.69 509.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 449.02 509.25 Td (expenses,� ) Tj ET Q q 0 0 0 rg BT 494.62 509.25 Td (and ) Tj ET Q q 0 0 0 rg BT 511.62 509.25 Td (the ) Tj ET Q q 0 0 0 rg BT 526.40 509.25 Td (expenses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (related ) Tj ET Q q 0 0 0 rg BT 78.95 497.25 Td (to ) Tj ET Q q 0 0 0 rg BT 88.97 497.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 121.76 497.25 Td (use ) Tj ET Q q 0 0 0 rg BT 137.34 497.25 Td (are ) Tj ET Q q 0 0 0 rg BT 151.79 497.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 189.01 497.25 Td (in ) Tj ET Q q 0 0 0 rg BT 199.04 497.25 Td (�Lease ) Tj ET Q q 0 0 0 rg BT 229.04 497.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 269.05 497.25 Td (expenses� ) Tj ET Q q 0 0 0 rg BT 311.83 497.25 Td (in ) Tj ET Q q 0 0 0 rg BT 321.85 497.25 Td (the ) Tj ET Q q 0 0 0 rg BT 336.32 497.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 391.34 497.25 Td (Statements ) Tj ET Q q 0 0 0 rg BT 437.46 497.25 Td (of ) Tj ET Q q 0 0 0 rg BT 448.04 497.25 Td (Operations ) Tj ET Q q 0 0 0 rg BT 494.16 497.25 Td (or ) Tj ET Q q 0 0 0 rg BT 504.74 497.25 Td (are ) Tj ET Q q 0 0 0 rg BT 519.19 497.25 Td (capitalized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (as ) Tj ET Q q 0 0 0 rg BT 60.22 485.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 73.16 485.25 Td (and ) Tj ET Q q 0 0 0 rg BT 89.98 485.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 120.13 485.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 135.85 485.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 178.22 485.25 Td (in ) Tj ET Q q 0 0 0 rg BT 188.38 485.25 Td (our ) Tj ET Q q 0 0 0 rg BT 204.09 485.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 259.25 485.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 293.84 485.25 Td (Sheets, ) Tj ET Q q 0 0 0 rg BT 324.83 485.25 Td (depending ) Tj ET Q q 0 0 0 rg BT 368.88 485.25 Td (on ) Tj ET Q q 0 0 0 rg BT 381.26 485.25 Td (the ) Tj ET Q q 0 0 0 rg BT 395.86 485.25 Td (stage ) Tj ET Q q 0 0 0 rg BT 418.79 485.25 Td (of ) Tj ET Q q 0 0 0 rg BT 429.51 485.25 Td (the ) Tj ET Q q 0 0 0 rg BT 444.11 485.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 475.37 485.25 Td (flood ) Tj ET Q q 0 0 0 rg BT 498.86 485.25 Td (that ) Tj ET Q q 0 0 0 rg BT 516.24 485.25 Td (is ) Tj ET Q q 0 0 0 rg BT 525.30 485.25 Td (receiving ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 473.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 78.11 471.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 81.36 473.25 Td ( ) Tj ET Q q 0 0 0 rg BT 83.86 473.25 Td (\(see ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 102.46 473.25 Td (T) Tj ET Q q 0 0 0 rg BT 107.10 473.25 Td (ertiary ) Tj ET Q q 0 0 0 rg BT 136.82 473.25 Td (Injection ) Tj ET Q q 0 0 0 rg BT 174.86 473.25 Td (Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.09 473.25 Td ( ) Tj ET Q q 0 0 0 rg BT 199.59 473.25 Td (above ) Tj ET Q q 0 0 0 rg BT 225.97 473.25 Td (for ) Tj ET Q q 0 0 0 rg BT 240.13 473.25 Td (further ) Tj ET Q q 0 0 0 rg BT 269.83 473.25 Td (discussion\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 449.25 Td (Costs ) Tj ET Q q 0 0 0 rg BT 92.11 449.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 127.80 449.25 Td (to ) Tj ET Q q 0 0 0 rg BT 137.95 449.25 Td (search ) Tj ET Q q 0 0 0 rg BT 165.86 449.25 Td (for ) Tj ET Q q 0 0 0 rg BT 179.90 449.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 193.79 447.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.04 449.25 Td ( ) Tj ET Q q 0 0 0 rg BT 199.42 449.25 Td (are ) Tj ET Q q 0 0 0 rg BT 214.00 449.25 Td (expensed ) Tj ET Q q 0 0 0 rg BT 253.58 449.25 Td (as ) Tj ET Q q 0 0 0 rg BT 264.29 449.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 299.98 449.25 Td (until ) Tj ET Q q 0 0 0 rg BT 320.69 449.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 350.83 449.25 Td (or ) Tj ET Q q 0 0 0 rg BT 361.54 449.25 Td (probable ) Tj ET Q q 0 0 0 rg BT 398.90 449.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 434.03 449.25 Td (are ) Tj ET Q q 0 0 0 rg BT 448.62 449.25 Td (established.��Once ) Tj ET Q q 0 0 0 rg BT 524.02 449.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 554.17 449.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (probable ) Tj ET Q q 0 0 0 rg BT 86.75 437.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 121.78 437.25 Td (are ) Tj ET Q q 0 0 0 rg BT 136.25 437.25 Td (established, ) Tj ET Q q 0 0 0 rg BT 185.45 437.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 207.71 437.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 243.29 437.25 Td (to ) Tj ET Q q 0 0 0 rg BT 253.34 437.25 Td (obtain ) Tj ET Q q 0 0 0 rg BT 280.60 437.25 Td (those ) Tj ET Q q 0 0 0 rg BT 303.97 437.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 339.00 437.25 Td (are ) Tj ET Q q 0 0 0 rg BT 353.47 437.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 399.04 437.25 Td (and ) Tj ET Q q 0 0 0 rg BT 415.75 437.25 Td (classified ) Tj ET Q q 0 0 0 rg BT 455.77 437.25 Td (as ) Tj ET Q q 0 0 0 rg BT 466.37 437.25 Td (�CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 484.70 435.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.95 437.25 Td ( ) Tj ET Q q 0 0 0 rg BT 490.22 437.25 Td (properties� ) Tj ET Q q 0 0 0 rg BT 536.90 437.25 Td (on ) Tj ET Q q 0 0 0 rg BT 549.17 437.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 104.79 425.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 139.50 425.25 Td (Sheets.��Capitalized ) Tj ET Q q 0 0 0 rg BT 221.16 425.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 235.05 423.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 238.30 425.25 Td ( ) Tj ET Q q 0 0 0 rg BT 240.82 425.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 263.33 425.25 Td (are ) Tj ET Q q 0 0 0 rg BT 278.05 425.25 Td (aggregated ) Tj ET Q q 0 0 0 rg BT 324.43 425.25 Td (by ) Tj ET Q q 0 0 0 rg BT 336.94 425.25 Td (geologic ) Tj ET Q q 0 0 0 rg BT 373.89 425.25 Td (formation ) Tj ET Q q 0 0 0 rg BT 415.84 425.25 Td (and ) Tj ET Q q 0 0 0 rg BT 432.79 425.25 Td (depleted ) Tj ET Q q 0 0 0 rg BT 469.17 425.25 Td (on ) Tj ET Q q 0 0 0 rg BT 481.69 425.25 Td (a ) Tj ET Q q 0 0 0 rg BT 488.64 425.25 Td (unit-of-production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 72.00 413.25 Td (over ) Tj ET Q q 0 0 0 rg BT 92.27 413.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 122.54 413.25 Td (and ) Tj ET Q q 0 0 0 rg BT 139.48 413.25 Td (probable ) Tj ET Q q 0 0 0 rg BT 176.96 413.25 Td (reserves.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 389.25 Td (Pipelines and Plants) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 365.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 81.39 363.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 84.64 365.25 Td ( ) Tj ET Q q 0 0 0 rg BT 86.96 365.25 Td (used ) Tj ET Q q 0 0 0 rg BT 107.60 365.25 Td (in ) Tj ET Q q 0 0 0 rg BT 117.70 365.25 Td (our ) Tj ET Q q 0 0 0 rg BT 133.35 365.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 164.54 365.25 Td (floods ) Tj ET Q q 0 0 0 rg BT 191.85 365.25 Td (is ) Tj ET Q q 0 0 0 rg BT 200.84 365.25 Td (transported ) Tj ET Q q 0 0 0 rg BT 248.14 365.25 Td (to ) Tj ET Q q 0 0 0 rg BT 258.24 365.25 Td (our ) Tj ET Q q 0 0 0 rg BT 273.88 365.25 Td (fields ) Tj ET Q q 0 0 0 rg BT 298.42 365.25 Td (through ) Tj ET Q q 0 0 0 rg BT 331.84 365.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 345.73 363.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.98 365.25 Td ( ) Tj ET Q q 0 0 0 rg BT 351.30 365.25 Td (pipelines.��Costs ) Tj ET Q q 0 0 0 rg BT 419.45 365.25 Td (of ) Tj ET Q q 0 0 0 rg BT 430.10 365.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 443.99 363.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.24 365.25 Td ( ) Tj ET Q q 0 0 0 rg BT 449.56 365.25 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 487.98 365.25 Td (under ) Tj ET Q q 0 0 0 rg BT 513.06 365.25 Td (construction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (are ) Tj ET Q q 0 0 0 rg BT 63.57 353.25 Td (not ) Tj ET Q q 0 0 0 rg BT 78.21 353.25 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 126.15 353.25 Td (until ) Tj ET Q q 0 0 0 rg BT 146.34 353.25 Td (the ) Tj ET Q q 0 0 0 rg BT 160.42 353.25 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 198.38 353.25 Td (are ) Tj ET Q q 0 0 0 rg BT 212.45 353.25 Td (placed ) Tj ET Q q 0 0 0 rg BT 240.40 353.25 Td (into ) Tj ET Q q 0 0 0 rg BT 257.82 353.25 Td (service.��Pipelines ) Tj ET Q q 0 0 0 rg BT 332.16 353.25 Td (are ) Tj ET Q q 0 0 0 rg BT 346.23 353.25 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 394.17 353.25 Td (on ) Tj ET Q q 0 0 0 rg BT 406.03 353.25 Td (a ) Tj ET Q q 0 0 0 rg BT 412.33 353.25 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 462.51 353.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 484.37 353.25 Td (over ) Tj ET Q q 0 0 0 rg BT 504.00 353.25 Td (their ) Tj ET Q q 0 0 0 rg BT 524.18 353.25 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 75.92 341.25 Td (lives, ) Tj ET Q q 0 0 0 rg BT 99.28 341.25 Td (which ) Tj ET Q q 0 0 0 rg BT 125.70 341.25 Td (range ) Tj ET Q q 0 0 0 rg BT 149.88 341.25 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 171.30 341.25 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.30 341.25 Td ( ) Tj ET Q q 0 0 0 rg BT 183.27 341.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 193.03 341.25 Td (50 ) Tj ET Q q 0 0 0 rg BT 205.01 341.25 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.11 341.25 Td (. ) Tj ET Q q 0 0 0 rg BT 230.58 341.25 Td ( ) Tj ET Q q 0 0 0 rg BT 232.56 341.25 Td (Capitalized ) Tj ET Q q 0 0 0 rg BT 280.08 341.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 302.05 341.25 Td (include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.46 341.25 Td ($122.5 ) Tj ET Q q 0 0 0 rg BT 362.94 341.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.83 341.25 Td ( ) Tj ET Q q 0 0 0 rg BT 393.81 341.25 Td (of ) Tj ET Q q 0 0 0 rg BT 404.12 341.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 418.01 339.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.26 341.25 Td ( ) Tj ET Q q 0 0 0 rg BT 423.24 341.25 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 461.32 341.25 Td (as ) Tj ET Q q 0 0 0 rg BT 471.63 341.25 Td (of ) Tj ET Q q 0 0 0 rg BT 481.93 341.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 540.00 341.25 Td (2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.25 Td (that ) Tj ET Q q 0 0 0 rg BT 66.49 329.25 Td (were ) Tj ET Q q 0 0 0 rg BT 87.91 329.25 Td (either ) Tj ET Q q 0 0 0 rg BT 112.67 329.25 Td (under ) Tj ET Q q 0 0 0 rg BT 137.43 329.25 Td (construction ) Tj ET Q q 0 0 0 rg BT 188.86 329.25 Td (or ) Tj ET Q q 0 0 0 rg BT 199.18 329.25 Td (had ) Tj ET Q q 0 0 0 rg BT 215.61 329.25 Td (not ) Tj ET Q q 0 0 0 rg BT 230.39 329.25 Td (been ) Tj ET Q q 0 0 0 rg BT 251.26 329.25 Td (placed ) Tj ET Q q 0 0 0 rg BT 279.34 329.25 Td (into ) Tj ET Q q 0 0 0 rg BT 296.89 329.25 Td (service ) Tj ET Q q 0 0 0 rg BT 327.20 329.25 Td (and ) Tj ET Q q 0 0 0 rg BT 343.64 329.25 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 384.21 329.25 Td (were ) Tj ET Q q 0 0 0 rg BT 405.64 329.25 Td (not ) Tj ET Q q 0 0 0 rg BT 420.41 329.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 450.73 329.25 Td (to ) Tj ET Q q 0 0 0 rg BT 460.50 329.25 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 511.91 329.25 Td (during ) Tj ET Q q 0 0 0 rg BT 540.01 329.25 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 305.25 Td (Pipelines ) Tj ET Q q 0 0 0 rg BT 107.26 305.25 Td (and ) Tj ET Q q 0 0 0 rg BT 124.80 305.25 Td (plants ) Tj ET Q q 0 0 0 rg BT 151.78 305.25 Td (also ) Tj ET Q q 0 0 0 rg BT 170.99 305.25 Td (include ) Tj ET Q q 0 0 0 rg BT 203.52 305.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 249.93 305.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 273.02 305.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 317.22 305.25 Td (with ) Tj ET Q q 0 0 0 rg BT 338.09 305.25 Td (the ) Tj ET Q q 0 0 0 rg BT 353.41 305.25 Td (Riley ) Tj ET Q q 0 0 0 rg BT 378.17 305.25 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 405.16 305.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 421.58 305.25 Td (processing ) Tj ET Q q 0 0 0 rg BT 467.45 305.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 498.87 305.25 Td (in ) Tj ET Q q 0 0 0 rg BT 509.75 305.25 Td (southwestern ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.25 Td (W) Tj ET Q q 0 0 0 rg BT 58.34 293.25 Td (yoming. ) Tj ET Q q 0 0 0 rg BT 94.33 293.25 Td ( ) Tj ET Q q 0 0 0 rg BT 97.27 293.25 Td (During ) Tj ET Q q 0 0 0 rg BT 128.54 293.25 Td (the ) Tj ET Q q 0 0 0 rg BT 143.70 293.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 171.07 293.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 202.33 293.25 Td (of ) Tj ET Q q 0 0 0 rg BT 213.59 293.25 Td (2016, ) Tj ET Q q 0 0 0 rg BT 239.03 293.25 Td (we ) Tj ET Q q 0 0 0 rg BT 253.63 293.25 Td (reassessed ) Tj ET Q q 0 0 0 rg BT 298.22 293.25 Td (the ) Tj ET Q q 0 0 0 rg BT 313.38 293.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 354.63 293.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 382.01 293.25 Td (life ) Tj ET Q q 0 0 0 rg BT 398.28 293.25 Td (of ) Tj ET Q q 0 0 0 rg BT 409.54 293.25 Td (the ) Tj ET Q q 0 0 0 rg BT 424.70 293.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 440.97 293.25 Td (processing ) Tj ET Q q 0 0 0 rg BT 486.67 293.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 517.93 293.25 Td (and ) Tj ET Q q 0 0 0 rg BT 535.31 293.25 Td (related ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.25 Td (assets, ) Tj ET Q q 0 0 0 rg BT 76.87 281.25 Td (due ) Tj ET Q q 0 0 0 rg BT 92.84 281.25 Td (to ) Tj ET Q q 0 0 0 rg BT 102.16 281.25 Td (the ) Tj ET Q q 0 0 0 rg BT 115.92 281.25 Td (extended ) Tj ET Q q 0 0 0 rg BT 153.55 281.25 Td (shut-in ) Tj ET Q q 0 0 0 rg BT 182.86 281.25 Td (status ) Tj ET Q q 0 0 0 rg BT 207.18 281.25 Td (of ) Tj ET Q q 0 0 0 rg BT 217.05 281.25 Td (the ) Tj ET Q q 0 0 0 rg BT 230.80 281.25 Td (Riley ) Tj ET Q q 0 0 0 rg BT 254.01 281.25 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 279.43 281.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 294.30 281.25 Td (processing ) Tj ET Q q 0 0 0 rg BT 338.61 281.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 368.46 281.25 Td (and ) Tj ET Q q 0 0 0 rg BT 384.44 281.25 Td (our ) Tj ET Q q 0 0 0 rg BT 399.31 281.25 Td (analysis ) Tj ET Q q 0 0 0 rg BT 433.06 281.25 Td (of ) Tj ET Q q 0 0 0 rg BT 442.93 281.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 460.58 281.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 499.33 281.25 Td (and ) Tj ET Q q 0 0 0 rg BT 515.31 281.25 Td (engineering ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.25 Td (options ) Tj ET Q q 0 0 0 rg BT 81.21 269.25 Td (to ) Tj ET Q q 0 0 0 rg BT 91.26 269.25 Td (remedy ) Tj ET Q q 0 0 0 rg BT 123.51 269.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 152.97 269.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 186.90 269.25 Td (issues, ) Tj ET Q q 0 0 0 rg BT 215.56 269.25 Td (and ) Tj ET Q q 0 0 0 rg BT 232.26 269.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 269.50 269.25 Td (accelerated ) Tj ET Q q 0 0 0 rg BT 316.72 269.25 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 368.41 269.25 Td (to ) Tj ET Q q 0 0 0 rg BT 378.45 269.25 Td (fully ) Tj ET Q q 0 0 0 rg BT 399.60 269.25 Td (depreciate ) Tj ET Q q 0 0 0 rg BT 442.94 269.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 488.51 269.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 510.78 269.25 Td (related ) Tj ET Q q 0 0 0 rg BT 540.25 269.25 Td (to ) Tj ET Q q 0 0 0 rg BT 550.29 269.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 80.32 257.25 Td (and ) Tj ET Q q 0 0 0 rg BT 97.26 257.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 139.75 257.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 165.58 257.25 Td (assigned ) Tj ET Q q 0 0 0 rg BT 202.52 257.25 Td (to ) Tj ET Q q 0 0 0 rg BT 212.80 257.25 Td (helium ) Tj ET Q q 0 0 0 rg BT 243.07 257.25 Td (production ) Tj ET Q q 0 0 0 rg BT 288.89 257.25 Td (rights ) Tj ET Q q 0 0 0 rg BT 314.17 257.25 Td (at ) Tj ET Q q 0 0 0 rg BT 323.89 257.25 Td (Riley ) Tj ET Q q 0 0 0 rg BT 348.05 257.25 Td (Ridge. ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 59.87 233.25 Td (operty and Equipment � Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 209.25 Td (Other ) Tj ET Q q 0 0 0 rg BT 94.41 209.25 Td (property ) Tj ET Q q 0 0 0 rg BT 132.42 209.25 Td (and ) Tj ET Q q 0 0 0 rg BT 151.00 209.25 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 199.85 209.25 Td (which ) Tj ET Q q 0 0 0 rg BT 228.42 209.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 265.89 209.25 Td (furniture ) Tj ET Q q 0 0 0 rg BT 305.01 209.25 Td (and ) Tj ET Q q 0 0 0 rg BT 323.58 209.25 Td (fixtures, ) Tj ET Q q 0 0 0 rg BT 360.77 209.25 Td (vehicles, ) Tj ET Q q 0 0 0 rg BT 400.17 209.25 Td (computer ) Tj ET Q q 0 0 0 rg BT 442.07 209.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 488.42 209.25 Td (and ) Tj ET Q q 0 0 0 rg BT 507.00 209.25 Td (software, ) Tj ET Q q 0 0 0 rg BT 548.06 209.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 95.03 197.25 Td (leases, ) Tj ET Q q 0 0 0 rg BT 123.63 197.25 Td (is ) Tj ET Q q 0 0 0 rg BT 132.53 197.25 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 180.83 197.25 Td (principally ) Tj ET Q q 0 0 0 rg BT 226.38 197.25 Td (on ) Tj ET Q q 0 0 0 rg BT 238.61 197.25 Td (a ) Tj ET Q q 0 0 0 rg BT 245.27 197.25 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 295.82 197.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 318.04 197.25 Td (over ) Tj ET Q q 0 0 0 rg BT 338.04 197.25 Td (each ) Tj ET Q q 0 0 0 rg BT 358.58 197.25 Td (asset�) Tj ET Q q 0 0 0 rg BT 380.79 197.25 Td (s ) Tj ET Q q 0 0 0 rg BT 386.91 197.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 427.46 197.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 454.12 197.25 Td (life.��) Tj ET Q q 0 0 0 rg BT 474.76 197.25 Td (V) Tj ET Q q 0 0 0 rg BT 480.88 197.25 Td (ehicles ) Tj ET Q q 0 0 0 rg BT 510.87 197.25 Td (and ) Tj ET Q q 0 0 0 rg BT 527.53 197.25 Td (furniture ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.56 185.25 Td (fixtures ) Tj ET Q q 0 0 0 rg BT 99.72 185.25 Td (are ) Tj ET Q q 0 0 0 rg BT 114.55 185.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 154.37 185.25 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 203.07 185.25 Td (over ) Tj ET Q q 0 0 0 rg BT 223.46 185.25 Td (a ) Tj ET Q q 0 0 0 rg BT 230.52 185.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 257.58 185.25 Td (life ) Tj ET Q q 0 0 0 rg BT 273.52 185.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 284.47 185.25 Td (five) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.02 185.25 Td ( ) Tj ET Q q 0 0 0 rg BT 302.64 185.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 313.04 185.25 Td (ten ) Tj ET Q q 0 0 0 rg BT 327.87 185.25 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.97 185.25 Td (, ) Tj ET Q q 0 0 0 rg BT 354.09 185.25 Td (and ) Tj ET Q q 0 0 0 rg BT 371.15 185.25 Td (computer ) Tj ET Q q 0 0 0 rg BT 411.53 185.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 456.36 185.25 Td (and ) Tj ET Q q 0 0 0 rg BT 473.42 185.25 Td (software ) Tj ET Q q 0 0 0 rg BT 510.47 185.25 Td (are ) Tj ET Q q 0 0 0 rg BT 525.30 185.25 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.25 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 97.43 173.25 Td (over ) Tj ET Q q 0 0 0 rg BT 117.05 173.25 Td (a ) Tj ET Q q 0 0 0 rg BT 123.34 173.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 149.63 173.25 Td (life ) Tj ET Q q 0 0 0 rg BT 164.80 173.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.98 173.25 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.97 173.25 Td ( ) Tj ET Q q 0 0 0 rg BT 196.82 173.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.45 173.25 Td (five ) Tj ET Q q 0 0 0 rg BT 223.85 173.25 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 244.94 173.25 Td (.��Leasehold ) Tj ET Q q 0 0 0 rg BT 295.39 173.25 Td (improvements ) Tj ET Q q 0 0 0 rg BT 354.45 173.25 Td (are ) Tj ET Q q 0 0 0 rg BT 368.51 173.25 Td (amortized ) Tj ET Q q 0 0 0 rg BT 410.34 173.25 Td (over ) Tj ET Q q 0 0 0 rg BT 429.96 173.25 Td (the ) Tj ET Q q 0 0 0 rg BT 444.03 173.25 Td (shorter ) Tj ET Q q 0 0 0 rg BT 473.65 173.25 Td (of ) Tj ET Q q 0 0 0 rg BT 483.83 173.25 Td (the ) Tj ET Q q 0 0 0 rg BT 497.89 173.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 538.06 173.25 Td (useful ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.25 Td (life ) Tj ET Q q 0 0 0 rg BT 65.33 161.25 Td (or ) Tj ET Q q 0 0 0 rg BT 76.16 161.25 Td (the ) Tj ET Q q 0 0 0 rg BT 90.87 161.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 133.91 161.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 156.40 161.25 Td (term.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 137.25 Td (Leased ) Tj ET Q q 0 0 0 rg BT 98.93 137.25 Td (property ) Tj ET Q q 0 0 0 rg BT 135.92 137.25 Td (meeting ) Tj ET Q q 0 0 0 rg BT 171.25 137.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 201.56 137.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 231.33 137.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 254.43 137.25 Td (criteria ) Tj ET Q q 0 0 0 rg BT 285.85 137.25 Td (is ) Tj ET Q q 0 0 0 rg BT 295.64 137.25 Td (capitalized, ) Tj ET Q q 0 0 0 rg BT 344.56 137.25 Td (and ) Tj ET Q q 0 0 0 rg BT 362.11 137.25 Td (the ) Tj ET Q q 0 0 0 rg BT 377.44 137.25 Td (present ) Tj ET Q q 0 0 0 rg BT 409.43 137.25 Td (value ) Tj ET Q q 0 0 0 rg BT 434.20 137.25 Td (of ) Tj ET Q q 0 0 0 rg BT 445.65 137.25 Td (the ) Tj ET Q q 0 0 0 rg BT 460.98 137.25 Td (related ) Tj ET Q q 0 0 0 rg BT 491.29 137.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 514.39 137.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 555.83 137.25 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 86.58 125.25 Td (as ) Tj ET Q q 0 0 0 rg BT 97.02 125.25 Td (a ) Tj ET Q q 0 0 0 rg BT 103.57 125.25 Td (liability) Tj ET Q q 0 0 0 rg BT 134.03 125.25 Td (.��) Tj ET Q q 0 0 0 rg BT 140.98 125.25 Td (Amortization ) Tj ET Q q 0 0 0 rg BT 196.41 125.25 Td (of ) Tj ET Q q 0 0 0 rg BT 206.85 125.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 252.26 125.25 Td (leased ) Tj ET Q q 0 0 0 rg BT 279.36 125.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 304.80 125.25 Td (is ) Tj ET Q q 0 0 0 rg BT 313.58 125.25 Td (computed ) Tj ET Q q 0 0 0 rg BT 355.12 125.25 Td (using ) Tj ET Q q 0 0 0 rg BT 378.90 125.25 Td (the ) Tj ET Q q 0 0 0 rg BT 393.23 125.25 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 443.66 125.25 Td (method ) Tj ET Q q 0 0 0 rg BT 475.76 125.25 Td (over ) Tj ET Q q 0 0 0 rg BT 495.64 125.25 Td (the ) Tj ET Q q 0 0 0 rg BT 509.96 125.25 Td (shorter ) Tj ET Q q 0 0 0 rg BT 539.84 125.25 Td (of ) Tj ET Q q 0 0 0 rg BT 550.28 125.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 90.32 113.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 117.26 113.25 Td (life ) Tj ET Q q 0 0 0 rg BT 133.08 113.25 Td (or ) Tj ET Q q 0 0 0 rg BT 143.91 113.25 Td (the ) Tj ET Q q 0 0 0 rg BT 158.63 113.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 181.12 113.25 Td (term.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 89.25 Td (Maintenance ) Tj ET Q q 0 0 0 rg BT 120.97 89.25 Td (and ) Tj ET Q q 0 0 0 rg BT 137.24 89.25 Td (repair ) Tj ET Q q 0 0 0 rg BT 162.38 89.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 184.21 89.25 Td (that ) Tj ET Q q 0 0 0 rg BT 201.04 89.25 Td (do ) Tj ET Q q 0 0 0 rg BT 212.87 89.25 Td (not ) Tj ET Q q 0 0 0 rg BT 227.48 89.25 Td (extend ) Tj ET Q q 0 0 0 rg BT 255.96 89.25 Td (the ) Tj ET Q q 0 0 0 rg BT 270.01 89.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 296.28 89.25 Td (life ) Tj ET Q q 0 0 0 rg BT 311.43 89.25 Td (of ) Tj ET Q q 0 0 0 rg BT 321.59 89.25 Td (the ) Tj ET Q q 0 0 0 rg BT 335.64 89.25 Td (property ) Tj ET Q q 0 0 0 rg BT 371.35 89.25 Td (or ) Tj ET Q q 0 0 0 rg BT 381.51 89.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 425.55 89.25 Td (are ) Tj ET Q q 0 0 0 rg BT 439.59 89.25 Td (char) Tj ET Q q 0 0 0 rg BT 456.61 89.25 Td (ged ) Tj ET Q q 0 0 0 rg BT 472.88 89.25 Td (to ) Tj ET Q q 0 0 0 rg BT 482.49 89.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 516.53 89.25 Td (as ) Tj ET Q q 0 0 0 rg BT 526.69 89.25 Td (incurred.) Tj ET Q endstream endobj 147 0 obj <> endobj 148 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (73) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 701.25 Td (Intangible ) Tj ET Q q 0 0 0 rg BT 95.35 701.25 Td (Assets) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 677.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.16 677.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 127.25 677.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 152.68 677.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 183.11 677.25 Td (to ) Tj ET Q q 0 0 0 rg BT 192.99 677.25 Td (amortization ) Tj ET Q q 0 0 0 rg BT 245.63 677.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 284.95 677.25 Td (consist ) Tj ET Q q 0 0 0 rg BT 314.83 677.25 Td (of ) Tj ET Q q 0 0 0 rg BT 325.26 677.25 Td (amounts ) Tj ET Q q 0 0 0 rg BT 361.25 677.25 Td (assigned ) Tj ET Q q 0 0 0 rg BT 397.80 677.25 Td (in ) Tj ET Q q 0 0 0 rg BT 407.68 677.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 445.32 677.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 491.29 677.25 Td (to ) Tj ET Q q 0 0 0 rg BT 501.18 677.25 Td (a ) Tj ET Q q 0 0 0 rg BT 507.72 677.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 521.61 675.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.86 677.25 Td ( ) Tj ET Q q 0 0 0 rg BT 526.96 677.25 Td (purchase ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 83.35 665.25 Td (with ) Tj ET Q q 0 0 0 rg BT 102.78 665.25 Td (ConocoPhillips ) Tj ET Q q 0 0 0 rg BT 166.10 665.25 Td (to ) Tj ET Q q 0 0 0 rg BT 175.53 665.25 Td (of) Tj ET Q q 0 0 0 rg BT 183.68 665.25 Td (ftake ) Tj ET Q q 0 0 0 rg BT 205.32 665.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 219.21 663.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.46 665.25 Td ( ) Tj ET Q q 0 0 0 rg BT 224.11 665.25 Td (from ) Tj ET Q q 0 0 0 rg BT 245.19 665.25 Td (the ) Tj ET Q q 0 0 0 rg BT 259.06 665.25 Td (Lost ) Tj ET Q q 0 0 0 rg BT 278.49 665.25 Td (Cabin ) Tj ET Q q 0 0 0 rg BT 304.02 665.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 319.00 665.25 Td (plant ) Tj ET Q q 0 0 0 rg BT 340.65 665.25 Td (in ) Tj ET Q q 0 0 0 rg BT 349.96 665.25 Td (W) Tj ET Q q 0 0 0 rg BT 358.79 665.25 Td (yoming ) Tj ET Q q 0 0 0 rg BT 391.00 665.25 Td (and ) Tj ET Q q 0 0 0 rg BT 407.09 665.25 Td (is ) Tj ET Q q 0 0 0 rg BT 415.41 665.25 Td (included ) Tj ET Q q 0 0 0 rg BT 451.49 665.25 Td (in ) Tj ET Q q 0 0 0 rg BT 460.92 665.25 Td (our ) Tj ET Q q 0 0 0 rg BT 475.90 665.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 530.32 665.25 Td (Balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.25 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 78.17 653.25 Td (under ) Tj ET Q q 0 0 0 rg BT 103.50 653.25 Td (the ) Tj ET Q q 0 0 0 rg BT 118.27 653.25 Td (caption ) Tj ET Q q 0 0 0 rg BT 150.27 653.25 Td (�Other ) Tj ET Q q 0 0 0 rg BT 180.03 653.25 Td (assets.� ) Tj ET Q q 0 0 0 rg BT 212.86 653.25 Td ( ) Tj ET Q q 0 0 0 rg BT 215.24 653.25 Td (W) Tj ET Q q 0 0 0 rg BT 223.88 653.25 Td (e ) Tj ET Q q 0 0 0 rg BT 230.87 653.25 Td (amortize ) Tj ET Q q 0 0 0 rg BT 268.42 653.25 Td (the ) Tj ET Q q 0 0 0 rg BT 283.19 653.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 297.08 651.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.33 653.25 Td ( ) Tj ET Q q 0 0 0 rg BT 302.89 653.25 Td (contract ) Tj ET Q q 0 0 0 rg BT 337.66 653.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 380.21 653.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 402.20 653.25 Td (on ) Tj ET Q q 0 0 0 rg BT 414.76 653.25 Td (a ) Tj ET Q q 0 0 0 rg BT 421.76 653.25 Td (straight-line ) Tj ET Q q 0 0 0 rg BT 472.64 653.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 495.20 653.25 Td (over ) Tj ET Q q 0 0 0 rg BT 515.53 653.25 Td (the ) Tj ET Q q 0 0 0 rg BT 530.31 653.25 Td (contract ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.25 Td (term. ) Tj ET Q q 0 0 0 rg BT 72.62 641.25 Td ( ) Tj ET Q q 0 0 0 rg BT 74.75 641.25 Td (T) Tj ET Q q 0 0 0 rg BT 80.16 641.25 Td (otal ) Tj ET Q q 0 0 0 rg BT 97.45 641.25 Td (amortization ) Tj ET Q q 0 0 0 rg BT 150.29 641.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 184.79 641.25 Td (for ) Tj ET Q q 0 0 0 rg BT 198.75 641.25 Td (our ) Tj ET Q q 0 0 0 rg BT 214.37 641.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 256.66 641.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 282.29 641.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.13 641.25 Td ($2.4 ) Tj ET Q q 0 0 0 rg BT 319.93 641.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 348.82 641.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.62 641.25 Td ($2.4 ) Tj ET Q q 0 0 0 rg BT 373.42 641.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.31 641.25 Td ( ) Tj ET Q q 0 0 0 rg BT 404.60 641.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.34 641.25 Td ($2.3 ) Tj ET Q q 0 0 0 rg BT 441.13 641.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 470.03 641.25 Td ( ) Tj ET Q q 0 0 0 rg BT 472.32 641.25 Td (during ) Tj ET Q q 0 0 0 rg BT 500.73 641.25 Td (the ) Tj ET Q q 0 0 0 rg BT 515.24 641.25 Td (years ) Tj ET Q q 0 0 0 rg BT 538.64 641.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 107.22 629.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.22 629.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.35 629.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 151.35 629.25 Td ( ) Tj ET Q q 0 0 0 rg BT 152.99 629.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.06 629.25 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 189.06 629.25 Td (. ) Tj ET Q q 0 0 0 rg BT 193.20 629.25 Td ( ) Tj ET Q q 0 0 0 rg BT 194.71 629.25 Td (The ) Tj ET Q q 0 0 0 rg BT 211.89 629.25 Td (following ) Tj ET Q q 0 0 0 rg BT 252.42 629.25 Td (table ) Tj ET Q q 0 0 0 rg BT 273.48 629.25 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 322.88 629.25 Td (the ) Tj ET Q q 0 0 0 rg BT 336.73 629.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 371.68 629.25 Td (value ) Tj ET Q q 0 0 0 rg BT 394.97 629.25 Td (of ) Tj ET Q q 0 0 0 rg BT 404.94 629.25 Td (our ) Tj ET Q q 0 0 0 rg BT 419.90 629.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 461.53 629.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 486.49 629.25 Td (as ) Tj ET Q q 0 0 0 rg BT 496.46 629.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.42 629.25 Td (December�31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 617.25 Td ( ) Tj ET Q q 0 0 0 rg BT 72.00 617.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 88.94 617.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 108.94 617.25 Td (:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 576.75 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 576.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 576.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 576.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 576.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 546.75 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 546.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 546.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 546.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 546.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 591.75 m 494 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 591.75 m 563 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 576.75 m 425 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 591.75 m 494 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 576.75 m 494 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 591.75 m 498 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 591.75 m 563 591.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 576.75 m 563 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 546.75 m 494 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 546.75 m 563 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 546.75 m 494 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 532.75 m 494 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 530.75 m 494 530.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 546.75 m 563 546.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 532.75 m 563 532.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 530.75 m 563 530.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.45 596.42 Td (December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 581.46 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 581.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 581.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 566.42 Td (Intangible asset value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 566.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 566.42 Td (37,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 566.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 566.42 Td (37,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 551.42 Td (Accumulated amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.30 551.47 Td (\(13,074) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 551.47 Td (\(10,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 551.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 536.42 Td (Net book value) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 536.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 536.42 Td (24,774) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 536.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 536.42 Td (27,203) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 508.25 Td (As ) Tj ET Q q 0 0 0 rg BT 80.99 508.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.70 508.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 150.16 508.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.16 508.25 Td (, ) Tj ET Q q 0 0 0 rg BT 175.04 508.25 Td (our ) Tj ET Q q 0 0 0 rg BT 190.75 508.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 231.45 508.25 Td (amortization ) Tj ET Q q 0 0 0 rg BT 284.36 508.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 318.95 508.25 Td (for ) Tj ET Q q 0 0 0 rg BT 332.98 508.25 Td (our ) Tj ET Q q 0 0 0 rg BT 348.69 508.25 Td (intangible ) Tj ET Q q 0 0 0 rg BT 391.06 508.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 416.77 508.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 447.47 508.25 Td (to ) Tj ET Q q 0 0 0 rg BT 457.63 508.25 Td (amortization ) Tj ET Q q 0 0 0 rg BT 510.54 508.25 Td (over ) Tj ET Q q 0 0 0 rg BT 530.69 508.25 Td (the ) Tj ET Q q 0 0 0 rg BT 545.28 508.25 Td (next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.25 Td (five ) Tj ET Q q 0 0 0 rg BT 67.55 496.25 Td (years ) Tj ET Q q 0 0 0 rg BT 91.15 496.25 Td (is ) Tj ET Q q 0 0 0 rg BT 100.32 496.25 Td (as ) Tj ET Q q 0 0 0 rg BT 111.15 496.25 Td (follows:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 470.75 443.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 470.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 470.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 440.75 443.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 440.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 440.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 410.75 443.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 410.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 410.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 470.75 m 493 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 470.75 m 562 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 470.75 m 493 470.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 470.75 m 562 470.75 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 475.46 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 475.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 460.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 460.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 460.42 Td (2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 445.42 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 445.42 Td (2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 430.42 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 430.42 Td (2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 415.42 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 415.42 Td (2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 400.42 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 400.42 Td (2,430) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 563.50 396.25 Td (�) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 372.25 Td (Impairment ) Tj ET Q q 0 0 0 rg BT 103.11 372.25 Td (Assessment ) Tj ET Q q 0 0 0 rg BT 154.50 372.25 Td (of ) Tj ET Q q 0 0 0 rg BT 165.33 372.25 Td (Long-Lived ) Tj ET Q q 0 0 0 rg BT 217.28 372.25 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 348.25 Td (The ) Tj ET Q q 0 0 0 rg BT 85.45 348.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 116.73 348.25 Td (of ) Tj ET Q q 0 0 0 rg BT 127.46 348.25 Td (our ) Tj ET Q q 0 0 0 rg BT 143.19 348.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 188.90 348.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 202.79 346.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 206.04 348.25 Td ( ) Tj ET Q q 0 0 0 rg BT 208.44 348.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 230.84 348.25 Td (related ) Tj ET Q q 0 0 0 rg BT 260.44 348.25 Td (to ) Tj ET Q q 0 0 0 rg BT 270.62 348.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 284.51 346.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.76 348.25 Td ( ) Tj ET Q q 0 0 0 rg BT 290.16 348.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 325.32 348.25 Td (and ) Tj ET Q q 0 0 0 rg BT 342.16 348.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 356.05 346.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.30 348.25 Td ( ) Tj ET Q q 0 0 0 rg BT 361.70 348.25 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 400.20 348.25 Td (that ) Tj ET Q q 0 0 0 rg BT 417.60 348.25 Td (we ) Tj ET Q q 0 0 0 rg BT 431.66 348.25 Td (estimate ) Tj ET Q q 0 0 0 rg BT 467.38 348.25 Td (will ) Tj ET Q q 0 0 0 rg BT 485.33 348.25 Td (be ) Tj ET Q q 0 0 0 rg BT 497.17 348.25 Td (consumed ) Tj ET Q q 0 0 0 rg BT 540.12 348.25 Td (in ) Tj ET Q q 0 0 0 rg BT 550.30 348.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 336.25 Td (process ) Tj ET Q q 0 0 0 rg BT 82.19 336.25 Td (of ) Tj ET Q q 0 0 0 rg BT 93.22 336.25 Td (producing ) Tj ET Q q 0 0 0 rg BT 136.46 336.25 Td (our ) Tj ET Q q 0 0 0 rg BT 152.49 336.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 182.95 336.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 196.21 336.25 Td (and ) Tj ET Q q 0 0 0 rg BT 213.35 336.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 243.81 336.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 259.83 336.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 295.29 336.25 Td (is ) Tj ET Q q 0 0 0 rg BT 304.66 336.25 Td (included ) Tj ET Q q 0 0 0 rg BT 341.79 336.25 Td (in ) Tj ET Q q 0 0 0 rg BT 352.27 336.25 Td (the ) Tj ET Q q 0 0 0 rg BT 367.18 336.25 Td (full ) Tj ET Q q 0 0 0 rg BT 383.77 336.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 402.57 336.25 Td (pool ) Tj ET Q q 0 0 0 rg BT 423.05 336.25 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 452.96 336.25 Td (test ) Tj ET Q q 0 0 0 rg BT 469.54 336.25 Td (as ) Tj ET Q q 0 0 0 rg BT 480.57 336.25 Td (a ) Tj ET Q q 0 0 0 rg BT 487.71 336.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 528.17 336.25 Td (to ) Tj ET Q q 0 0 0 rg BT 538.64 336.25 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 324.25 Td (net ) Tj ET Q q 0 0 0 rg BT 64.82 324.25 Td (revenues.��) Tj ET Q q 0 0 0 rg BT 107.67 324.25 Td (The ) Tj ET Q q 0 0 0 rg BT 126.32 324.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 169.96 324.25 Td (net ) Tj ET Q q 0 0 0 rg BT 185.28 324.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 231.69 324.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 254.79 324.25 Td (that ) Tj ET Q q 0 0 0 rg BT 272.88 324.25 Td (are ) Tj ET Q q 0 0 0 rg BT 288.19 324.25 Td (not ) Tj ET Q q 0 0 0 rg BT 304.07 324.25 Td (included ) Tj ET Q q 0 0 0 rg BT 341.60 324.25 Td (in ) Tj ET Q q 0 0 0 rg BT 352.48 324.25 Td (the ) Tj ET Q q 0 0 0 rg BT 367.80 324.25 Td (full ) Tj ET Q q 0 0 0 rg BT 384.79 324.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 404.00 324.25 Td (pool ) Tj ET Q q 0 0 0 rg BT 424.88 324.25 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 455.19 324.25 Td (test, ) Tj ET Q q 0 0 0 rg BT 474.68 324.25 Td (and ) Tj ET Q q 0 0 0 rg BT 492.21 324.25 Td (related ) Tj ET Q q 0 0 0 rg BT 522.52 324.25 Td (intangible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 312.25 Td (assets, ) Tj ET Q q 0 0 0 rg BT 77.92 312.25 Td (are ) Tj ET Q q 0 0 0 rg BT 92.72 312.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 123.63 312.25 Td (to ) Tj ET Q q 0 0 0 rg BT 134.00 312.25 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 177.69 312.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 199.72 312.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 248.41 312.25 Td (testing ) Tj ET Q q 0 0 0 rg BT 277.66 312.25 Td (whenever ) Tj ET Q q 0 0 0 rg BT 319.12 312.25 Td (events ) Tj ET Q q 0 0 0 rg BT 347.25 312.25 Td (or ) Tj ET Q q 0 0 0 rg BT 358.17 312.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 392.97 312.25 Td (in ) Tj ET Q q 0 0 0 rg BT 403.34 312.25 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 462.57 312.25 Td (indicate ) Tj ET Q q 0 0 0 rg BT 496.81 312.25 Td (that ) Tj ET Q q 0 0 0 rg BT 514.39 312.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.20 312.25 Td (carrying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 300.25 Td (value ) Tj ET Q q 0 0 0 rg BT 73.66 300.25 Td (may ) Tj ET Q q 0 0 0 rg BT 93.37 300.25 Td (not ) Tj ET Q q 0 0 0 rg BT 108.65 300.25 Td (be ) Tj ET Q q 0 0 0 rg BT 120.59 300.25 Td (recoverable.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 276.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 276.25 Td (e ) Tj ET Q q 0 0 0 rg BT 83.52 276.25 Td (perform ) Tj ET Q q 0 0 0 rg BT 118.67 276.25 Td (our ) Tj ET Q q 0 0 0 rg BT 134.95 276.25 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 178.99 276.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 201.38 276.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 250.42 276.25 Td (test ) Tj ET Q q 0 0 0 rg BT 267.25 276.25 Td (by ) Tj ET Q q 0 0 0 rg BT 280.20 276.25 Td (comparing ) Tj ET Q q 0 0 0 rg BT 325.90 276.25 Td (the ) Tj ET Q q 0 0 0 rg BT 341.06 276.25 Td (net ) Tj ET Q q 0 0 0 rg BT 356.23 276.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 392.49 276.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 415.43 276.25 Td (of ) Tj ET Q q 0 0 0 rg BT 426.70 276.25 Td (our ) Tj ET Q q 0 0 0 rg BT 442.98 276.25 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 487.03 276.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 509.41 276.25 Td (groups ) Tj ET Q q 0 0 0 rg BT 539.58 276.25 Td (to ) Tj ET Q q 0 0 0 rg BT 550.30 276.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 264.25 Td (respective ) Tj ET Q q 0 0 0 rg BT 92.41 264.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 130.32 264.25 Td (future ) Tj ET Q q 0 0 0 rg BT 156.57 264.25 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 212.27 264.25 Td (net ) Tj ET Q q 0 0 0 rg BT 226.86 264.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 247.00 264.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 271.60 264.25 Td (that ) Tj ET Q q 0 0 0 rg BT 288.97 264.25 Td (are ) Tj ET Q q 0 0 0 rg BT 303.56 264.25 Td (supported ) Tj ET Q q 0 0 0 rg BT 345.37 264.25 Td (by ) Tj ET Q q 0 0 0 rg BT 357.74 264.25 Td (these ) Tj ET Q q 0 0 0 rg BT 380.67 264.25 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 424.15 264.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 449.85 264.25 Td (which ) Tj ET Q q 0 0 0 rg BT 476.67 264.25 Td (include ) Tj ET Q q 0 0 0 rg BT 508.47 264.25 Td (production ) Tj ET Q q 0 0 0 rg BT 554.18 264.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 252.25 Td (our ) Tj ET Q q 0 0 0 rg BT 65.28 252.25 Td (probable ) Tj ET Q q 0 0 0 rg BT 102.71 252.25 Td (and ) Tj ET Q q 0 0 0 rg BT 119.59 252.25 Td (possible ) Tj ET Q q 0 0 0 rg BT 154.81 252.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 167.82 252.25 Td (and ) Tj ET Q q 0 0 0 rg BT 184.70 252.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 214.91 252.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 230.68 252.25 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 268.39 252.25 Td ( ) Tj ET Q q 0 0 0 rg BT 270.83 252.25 Td (If ) Tj ET Q q 0 0 0 rg BT 279.94 252.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.60 252.25 Td (undiscounted ) Tj ET Q q 0 0 0 rg BT 350.37 252.25 Td (net ) Tj ET Q q 0 0 0 rg BT 365.03 252.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 385.25 252.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 409.91 252.25 Td (are ) Tj ET Q q 0 0 0 rg BT 424.57 252.25 Td (below ) Tj ET Q q 0 0 0 rg BT 451.45 252.25 Td (the ) Tj ET Q q 0 0 0 rg BT 466.11 252.25 Td (net ) Tj ET Q q 0 0 0 rg BT 480.77 252.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 516.54 252.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 538.98 252.25 Td (for ) Tj ET Q q 0 0 0 rg BT 553.09 252.25 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 240.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 71.77 240.25 Td (group, ) Tj ET Q q 0 0 0 rg BT 100.44 240.25 Td (we ) Tj ET Q q 0 0 0 rg BT 114.93 240.25 Td (must ) Tj ET Q q 0 0 0 rg BT 137.21 240.25 Td (record ) Tj ET Q q 0 0 0 rg BT 165.59 240.25 Td (an ) Tj ET Q q 0 0 0 rg BT 177.86 240.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 226.79 240.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 245.19 240.25 Td (by ) Tj ET Q q 0 0 0 rg BT 258.02 240.25 Td (the ) Tj ET Q q 0 0 0 rg BT 273.07 240.25 Td (amount, ) Tj ET Q q 0 0 0 rg BT 308.40 240.25 Td (if ) Tj ET Q q 0 0 0 rg BT 317.35 240.25 Td (any) Tj ET Q q 0 0 0 rg BT 331.14 240.25 Td (, ) Tj ET Q q 0 0 0 rg BT 336.47 240.25 Td (that ) Tj ET Q q 0 0 0 rg BT 354.30 240.25 Td (net ) Tj ET Q q 0 0 0 rg BT 369.35 240.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 405.50 240.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 428.34 240.25 Td (exceed ) Tj ET Q q 0 0 0 rg BT 458.92 240.25 Td (the ) Tj ET Q q 0 0 0 rg BT 473.98 240.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 490.69 240.25 Td (value ) Tj ET Q q 0 0 0 rg BT 515.18 240.25 Td (of ) Tj ET Q q 0 0 0 rg BT 526.34 240.25 Td (the ) Tj ET Q q 0 0 0 rg BT 541.39 240.25 Td (long-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 228.25 Td (lived ) Tj ET Q q 0 0 0 rg BT 72.00 228.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 93.93 228.25 Td (group. ) Tj ET Q q 0 0 0 rg BT 122.26 228.25 Td ( ) Tj ET Q q 0 0 0 rg BT 124.58 228.25 Td (W) Tj ET Q q 0 0 0 rg BT 133.22 228.25 Td (e ) Tj ET Q q 0 0 0 rg BT 140.16 228.25 Td (did ) Tj ET Q q 0 0 0 rg BT 155.44 228.25 Td (not ) Tj ET Q q 0 0 0 rg BT 170.72 228.25 Td (record ) Tj ET Q q 0 0 0 rg BT 198.75 228.25 Td (an ) Tj ET Q q 0 0 0 rg BT 210.69 228.25 Td (impairment ) Tj ET Q q 0 0 0 rg BT 259.29 228.25 Td (of ) Tj ET Q q 0 0 0 rg BT 270.12 228.25 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 313.72 228.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 339.55 228.25 Td (during ) Tj ET Q q 0 0 0 rg BT 368.16 228.25 Td (the ) Tj ET Q q 0 0 0 rg BT 382.88 228.25 Td (year ) Tj ET Q q 0 0 0 rg BT 402.59 228.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 428.96 228.25 Td (December ) Tj ET Q q 0 0 0 rg BT 472.55 228.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 487.55 228.25 Td (2018.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 204.25 Td (Asset ) Tj ET Q q 0 0 0 rg BT 74.77 204.25 Td (Retir) Tj ET Q q 0 0 0 rg BT 96.80 204.25 Td (ement ) Tj ET Q q 0 0 0 rg BT 125.40 204.25 Td (Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 180.25 Td (In ) Tj ET Q q 0 0 0 rg BT 79.17 180.25 Td (general, ) Tj ET Q q 0 0 0 rg BT 114.44 180.25 Td (our ) Tj ET Q q 0 0 0 rg BT 131.11 180.25 Td (future ) Tj ET Q q 0 0 0 rg BT 158.33 180.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 181.11 180.25 Td (retirement ) Tj ET Q q 0 0 0 rg BT 225.54 180.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 273.32 180.25 Td (relate ) Tj ET Q q 0 0 0 rg BT 298.86 180.25 Td (to ) Tj ET Q q 0 0 0 rg BT 309.98 180.25 Td (future ) Tj ET Q q 0 0 0 rg BT 337.20 180.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 360.54 180.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 404.98 180.25 Td (with ) Tj ET Q q 0 0 0 rg BT 426.10 180.25 Td (plugging ) Tj ET Q q 0 0 0 rg BT 465.00 180.25 Td (and ) Tj ET Q q 0 0 0 rg BT 482.78 180.25 Td (abandoning ) Tj ET Q q 0 0 0 rg BT 532.77 180.25 Td (our ) Tj ET Q q 0 0 0 rg BT 549.44 180.25 Td (oil, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 168.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 79.07 168.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 94.21 168.25 Td (and ) Tj ET Q q 0 0 0 rg BT 110.46 168.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 124.36 166.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.60 168.25 Td ( ) Tj ET Q q 0 0 0 rg BT 129.42 168.25 Td (wells, ) Tj ET Q q 0 0 0 rg BT 154.83 168.25 Td (removing ) Tj ET Q q 0 0 0 rg BT 194.97 168.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 238.99 168.25 Td (and ) Tj ET Q q 0 0 0 rg BT 255.24 168.25 Td (facilities ) Tj ET Q q 0 0 0 rg BT 291.48 168.25 Td (from ) Tj ET Q q 0 0 0 rg BT 312.73 168.25 Td (leased ) Tj ET Q q 0 0 0 rg BT 339.53 168.25 Td (acreage, ) Tj ET Q q 0 0 0 rg BT 374.36 168.25 Td (and ) Tj ET Q q 0 0 0 rg BT 390.61 168.25 Td (returning ) Tj ET Q q 0 0 0 rg BT 429.07 168.25 Td (land ) Tj ET Q q 0 0 0 rg BT 448.10 168.25 Td (to ) Tj ET Q q 0 0 0 rg BT 457.69 168.25 Td (its ) Tj ET Q q 0 0 0 rg BT 468.95 168.25 Td (original ) Tj ET Q q 0 0 0 rg BT 501.86 168.25 Td (condition.��) Tj ET Q q 0 0 0 rg BT 546.96 168.25 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 156.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 65.75 156.25 Td (value ) Tj ET Q q 0 0 0 rg BT 89.78 156.25 Td (of ) Tj ET Q q 0 0 0 rg BT 100.48 156.25 Td (a ) Tj ET Q q 0 0 0 rg BT 107.29 156.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 140.77 156.25 Td (for ) Tj ET Q q 0 0 0 rg BT 154.80 156.25 Td (an ) Tj ET Q q 0 0 0 rg BT 166.61 156.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 188.42 156.25 Td (retirement ) Tj ET Q q 0 0 0 rg BT 231.88 156.25 Td (obligation ) Tj ET Q q 0 0 0 rg BT 274.81 156.25 Td (is ) Tj ET Q q 0 0 0 rg BT 283.85 156.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 321.20 156.25 Td (in ) Tj ET Q q 0 0 0 rg BT 331.35 156.25 Td (the ) Tj ET Q q 0 0 0 rg BT 345.94 156.25 Td (period ) Tj ET Q q 0 0 0 rg BT 373.86 156.25 Td (in ) Tj ET Q q 0 0 0 rg BT 384.01 156.25 Td (which ) Tj ET Q q 0 0 0 rg BT 410.82 156.25 Td (it ) Tj ET Q q 0 0 0 rg BT 418.75 156.25 Td (is ) Tj ET Q q 0 0 0 rg BT 427.79 156.25 Td (incurred, ) Tj ET Q q 0 0 0 rg BT 465.97 156.25 Td (discounted ) Tj ET Q q 0 0 0 rg BT 511.67 156.25 Td (to ) Tj ET Q q 0 0 0 rg BT 521.82 156.25 Td (its ) Tj ET Q q 0 0 0 rg BT 533.64 156.25 Td (present ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 144.25 Td (value ) Tj ET Q q 0 0 0 rg BT 73.61 144.25 Td (using ) Tj ET Q q 0 0 0 rg BT 97.73 144.25 Td (our ) Tj ET Q q 0 0 0 rg BT 113.52 144.25 Td (credit-adjusted-risk-free ) Tj ET Q q 0 0 0 rg BT 212.59 144.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 244.47 144.25 Td (rate, ) Tj ET Q q 0 0 0 rg BT 264.41 144.25 Td (and ) Tj ET Q q 0 0 0 rg BT 281.30 144.25 Td (a ) Tj ET Q q 0 0 0 rg BT 288.20 144.25 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 347.86 144.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 380.31 144.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 426.06 144.25 Td (by ) Tj ET Q q 0 0 0 rg BT 438.52 144.25 Td (increasing ) Tj ET Q q 0 0 0 rg BT 482.07 144.25 Td (the ) Tj ET Q q 0 0 0 rg BT 496.74 144.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 532.51 144.25 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 132.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.31 132.25 Td (the ) Tj ET Q q 0 0 0 rg BT 75.00 132.25 Td (related ) Tj ET Q q 0 0 0 rg BT 104.68 132.25 Td (long-lived ) Tj ET Q q 0 0 0 rg BT 148.25 132.25 Td (asset.��) Tj ET Q q 0 0 0 rg BT 175.01 132.25 Td (The ) Tj ET Q q 0 0 0 rg BT 193.04 132.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 226.62 132.25 Td (is ) Tj ET Q q 0 0 0 rg BT 235.76 132.25 Td (accreted ) Tj ET Q q 0 0 0 rg BT 271.54 132.25 Td (each ) Tj ET Q q 0 0 0 rg BT 292.33 132.25 Td (period, ) Tj ET Q q 0 0 0 rg BT 322.85 132.25 Td (and ) Tj ET Q q 0 0 0 rg BT 339.77 132.25 Td (the ) Tj ET Q q 0 0 0 rg BT 354.46 132.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 400.24 132.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 418.83 132.25 Td (is ) Tj ET Q q 0 0 0 rg BT 427.97 132.25 Td (depreciated ) Tj ET Q q 0 0 0 rg BT 476.53 132.25 Td (over ) Tj ET Q q 0 0 0 rg BT 496.77 132.25 Td (the ) Tj ET Q q 0 0 0 rg BT 511.46 132.25 Td (useful ) Tj ET Q q 0 0 0 rg BT 538.38 132.25 Td (life ) Tj ET Q q 0 0 0 rg BT 554.18 132.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 120.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.79 120.25 Td (related ) Tj ET Q q 0 0 0 rg BT 95.07 120.25 Td (asset.��Revisions ) Tj ET Q q 0 0 0 rg BT 164.54 120.25 Td (to ) Tj ET Q q 0 0 0 rg BT 175.39 120.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 216.79 120.25 Td (retirement ) Tj ET Q q 0 0 0 rg BT 260.96 120.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 308.48 120.25 Td (will ) Tj ET Q q 0 0 0 rg BT 327.11 120.25 Td (result ) Tj ET Q q 0 0 0 rg BT 352.41 120.25 Td (in ) Tj ET Q q 0 0 0 rg BT 363.26 120.25 Td (an ) Tj ET Q q 0 0 0 rg BT 375.78 120.25 Td (adjustment ) Tj ET Q q 0 0 0 rg BT 422.74 120.25 Td (to ) Tj ET Q q 0 0 0 rg BT 433.60 120.25 Td (the ) Tj ET Q q 0 0 0 rg BT 448.89 120.25 Td (related ) Tj ET Q q 0 0 0 rg BT 479.17 120.25 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 525.55 120.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 548.07 120.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 108.25 Td (corresponding ) Tj ET Q q 0 0 0 rg BT 109.37 108.25 Td (liability) Tj ET Q q 0 0 0 rg BT 139.83 108.25 Td (.��If ) Tj ET Q q 0 0 0 rg BT 156.66 108.25 Td (the ) Tj ET Q q 0 0 0 rg BT 171.55 108.25 Td (liability ) Tj ET Q q 0 0 0 rg BT 205.32 108.25 Td (for ) Tj ET Q q 0 0 0 rg BT 219.65 108.25 Td (an ) Tj ET Q q 0 0 0 rg BT 231.75 108.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 244.98 108.25 Td (or ) Tj ET Q q 0 0 0 rg BT 255.98 108.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 286.41 108.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 302.41 108.25 Td (well ) Tj ET Q q 0 0 0 rg BT 322.29 108.25 Td (is ) Tj ET Q q 0 0 0 rg BT 331.63 108.25 Td (settled ) Tj ET Q q 0 0 0 rg BT 360.40 108.25 Td (for ) Tj ET Q q 0 0 0 rg BT 374.73 108.25 Td (an ) Tj ET Q q 0 0 0 rg BT 386.83 108.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 419.49 108.25 Td (other ) Tj ET Q q 0 0 0 rg BT 442.71 108.25 Td (than ) Tj ET Q q 0 0 0 rg BT 462.59 108.25 Td (the ) Tj ET Q q 0 0 0 rg BT 477.48 108.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 515.12 108.25 Td (amount, ) Tj ET Q q 0 0 0 rg BT 550.28 108.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 96.25 Td (dif) Tj ET Q q 0 0 0 rg BT 60.43 96.25 Td (ference ) Tj ET Q q 0 0 0 rg BT 92.34 96.25 Td (is ) Tj ET Q q 0 0 0 rg BT 101.51 96.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 138.99 96.25 Td (to ) Tj ET Q q 0 0 0 rg BT 149.27 96.25 Td (the ) Tj ET Q q 0 0 0 rg BT 163.98 96.25 Td (full ) Tj ET Q q 0 0 0 rg BT 180.37 96.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 198.98 96.25 Td (pool, ) Tj ET Q q 0 0 0 rg BT 221.76 96.25 Td (unless ) Tj ET Q q 0 0 0 rg BT 249.26 96.25 Td (significant.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 72.25 Td (Asset ) Tj ET Q q 0 0 0 rg BT 92.73 72.25 Td (retirement ) Tj ET Q q 0 0 0 rg BT 136.82 72.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 184.27 72.25 Td (are ) Tj ET Q q 0 0 0 rg BT 199.49 72.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 240.82 72.25 Td (at ) Tj ET Q q 0 0 0 rg BT 251.04 72.25 Td (the ) Tj ET Q q 0 0 0 rg BT 266.26 72.25 Td (present ) Tj ET Q q 0 0 0 rg BT 298.15 72.25 Td (value ) Tj ET Q q 0 0 0 rg BT 322.81 72.25 Td (of ) Tj ET Q q 0 0 0 rg BT 334.15 72.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 372.68 72.25 Td (future ) Tj ET Q q 0 0 0 rg BT 399.57 72.25 Td (net ) Tj ET Q q 0 0 0 rg BT 414.79 72.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 435.57 72.25 Td (flows.��) Tj ET Q q 0 0 0 rg BT 465.11 72.25 Td (W) Tj ET Q q 0 0 0 rg BT 473.75 72.25 Td (e ) Tj ET Q q 0 0 0 rg BT 481.19 72.25 Td (utilize ) Tj ET Q q 0 0 0 rg BT 509.19 72.25 Td (unobservable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 60.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 76.41 60.25 Td (in ) Tj ET Q q 0 0 0 rg BT 86.65 60.25 Td (the ) Tj ET Q q 0 0 0 rg BT 101.33 60.25 Td (estimation ) Tj ET Q q 0 0 0 rg BT 145.46 60.25 Td (of ) Tj ET Q q 0 0 0 rg BT 156.25 60.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 178.15 60.25 Td (retirement ) Tj ET Q q 0 0 0 rg BT 221.70 60.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 268.61 60.25 Td (that ) Tj ET Q q 0 0 0 rg BT 286.07 60.25 Td (include, ) Tj ET Q q 0 0 0 rg BT 320.47 60.25 Td (but ) Tj ET Q q 0 0 0 rg BT 335.71 60.25 Td (are ) Tj ET Q q 0 0 0 rg BT 350.38 60.25 Td (not ) Tj ET Q q 0 0 0 rg BT 365.62 60.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 396.41 60.25 Td (to, ) Tj ET Q q 0 0 0 rg BT 409.16 60.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 431.62 60.25 Td (of ) Tj ET Q q 0 0 0 rg BT 442.41 60.25 Td (labor ) Tj ET Q q 0 0 0 rg BT 465.42 60.25 Td (and ) Tj ET Q q 0 0 0 rg BT 482.32 60.25 Td (materials, ) Tj ET Q q 0 0 0 rg BT 523.94 60.25 Td (profits ) Tj ET Q q 0 0 0 rg BT 552.51 60.25 Td (on ) Tj ET Q endstream endobj 149 0 obj <> endobj 150 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (74) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 70.80 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 80.44 713.10 Td (labor ) Tj ET Q q 0 0 0 rg BT 102.29 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 118.03 713.10 Td (materials, ) Tj ET Q q 0 0 0 rg BT 158.48 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 172.00 713.10 Td (ef) Tj ET Q q 0 0 0 rg BT 179.59 713.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 195.88 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 205.51 713.10 Td (inflation ) Tj ET Q q 0 0 0 rg BT 240.69 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 252.00 713.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 291.62 713.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 315.42 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 331.16 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 344.68 713.10 Td (discount ) Tj ET Q q 0 0 0 rg BT 379.87 713.10 Td (rate.��) Tj ET Q q 0 0 0 rg BT 401.80 713.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 451.14 713.10 Td (, ) Tj ET Q q 0 0 0 rg BT 454.94 713.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 475.68 713.10 Td (retirement ) Tj ET Q q 0 0 0 rg BT 518.08 713.10 Td (obligations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.21 701.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 110.02 701.10 Td (a ) Tj ET Q q 0 0 0 rg BT 116.96 701.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 142.22 701.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 149.72 701.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 205.54 701.10 Td (under ) Tj ET Q q 0 0 0 rg BT 230.80 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 245.52 701.10 Td (F) Tj ET Q q 0 0 0 rg BT 250.34 701.10 Td (ASC ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 272.29 701.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 292.57 701.10 Td (V) Tj ET Q q 0 0 0 rg BT 297.57 701.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 317.29 701.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 347.47 701.10 Td (ement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.35 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 373.85 701.10 Td (topic.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (Commodity Derivative Contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 653.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 653.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.70 653.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 109.82 653.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 122.50 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 139.07 653.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 168.96 653.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 184.41 653.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 226.52 653.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 264.74 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 274.65 653.10 Td (mitigate ) Tj ET Q q 0 0 0 rg BT 309.54 653.10 Td (our ) Tj ET Q q 0 0 0 rg BT 325.00 653.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 363.22 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 373.13 653.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 420.81 653.10 Td (price ) Tj ET Q q 0 0 0 rg BT 442.92 653.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 460.04 653.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 503.26 653.10 Td (with ) Tj ET Q q 0 0 0 rg BT 523.17 653.10 Td (our ) Tj ET Q q 0 0 0 rg BT 538.63 653.10 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 61.85 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 78.08 641.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 107.63 641.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 122.75 641.10 Td (production.��) Tj ET Q q 0 0 0 rg BT 173.40 641.10 Td (These ) Tj ET Q q 0 0 0 rg BT 199.07 641.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 240.84 641.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 278.72 641.10 Td (have ) Tj ET Q q 0 0 0 rg BT 299.39 641.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 346.17 641.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 385.18 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 395.30 641.10 Td (options, ) Tj ET Q q 0 0 0 rg BT 429.04 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 438.61 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 452.62 641.10 Td (form ) Tj ET Q q 0 0 0 rg BT 473.85 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 483.97 641.10 Td (price ) Tj ET Q q 0 0 0 rg BT 505.74 641.10 Td (floors, ) Tj ET Q q 0 0 0 rg BT 533.36 641.10 Td (collars, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 93.21 629.10 Td (collars, ) Tj ET Q q 0 0 0 rg BT 126.09 629.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 173.68 629.10 Td (swaps, ) Tj ET Q q 0 0 0 rg BT 204.36 629.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 251.95 629.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 280.13 629.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 321.61 629.10 Td (with ) Tj ET Q q 0 0 0 rg BT 343.12 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 351.29 629.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 371.69 629.10 Td (put, ) Tj ET Q q 0 0 0 rg BT 390.70 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.87 629.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 432.60 629.10 Td (swaps.��Our ) Tj ET Q q 0 0 0 rg BT 483.82 629.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 527.53 629.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 101.81 617.10 Td (other ) Tj ET Q q 0 0 0 rg BT 125.51 617.10 Td (than ) Tj ET Q q 0 0 0 rg BT 145.88 617.10 Td (any ) Tj ET Q q 0 0 0 rg BT 163.46 617.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 206.59 617.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 256.41 617.10 Td (that ) Tj ET Q q 0 0 0 rg BT 274.55 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 289.91 617.10 Td (designated ) Tj ET Q q 0 0 0 rg BT 335.82 617.10 Td (under ) Tj ET Q q 0 0 0 rg BT 361.74 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 377.11 617.10 Td (�normal ) Tj ET Q q 0 0 0 rg BT 413.02 617.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 451.71 617.10 Td (normal ) Tj ET Q q 0 0 0 rg BT 483.18 617.10 Td (sale� ) Tj ET Q q 0 0 0 rg BT 506.32 617.10 Td (exclusion, ) Tj ET Q q 0 0 0 rg BT 550.29 617.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 87.46 605.10 Td (on ) Tj ET Q q 0 0 0 rg BT 100.44 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 115.64 605.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 149.15 605.10 Td (sheet ) Tj ET Q q 0 0 0 rg BT 172.68 605.10 Td (as ) Tj ET Q q 0 0 0 rg BT 183.99 605.10 Td (either ) Tj ET Q q 0 0 0 rg BT 209.73 605.10 Td (an ) Tj ET Q q 0 0 0 rg BT 222.15 605.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 244.57 605.10 Td (or ) Tj ET Q q 0 0 0 rg BT 255.88 605.10 Td (a ) Tj ET Q q 0 0 0 rg BT 263.30 605.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 297.39 605.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 338.69 605.10 Td (at ) Tj ET Q q 0 0 0 rg BT 348.88 605.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 365.74 605.10 Td (value.��) Tj ET Q q 0 0 0 rg BT 394.72 605.10 Td (W) Tj ET Q q 0 0 0 rg BT 403.35 605.10 Td (e ) Tj ET Q q 0 0 0 rg BT 410.77 605.10 Td (do ) Tj ET Q q 0 0 0 rg BT 423.76 605.10 Td (not ) Tj ET Q q 0 0 0 rg BT 439.51 605.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 464.71 605.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 491.57 605.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 538.42 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.18 605.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 99.06 593.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 143.06 593.10 Td (contracts; ) Tj ET Q q 0 0 0 rg BT 185.94 593.10 Td (accordingly) Tj ET Q q 0 0 0 rg BT 232.50 593.10 Td (, ) Tj ET Q q 0 0 0 rg BT 239.01 593.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 275.23 593.10 Td (in ) Tj ET Q q 0 0 0 rg BT 287.02 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.25 593.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 321.14 593.10 Td (value ) Tj ET Q q 0 0 0 rg BT 346.81 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.15 593.10 Td (these ) Tj ET Q q 0 0 0 rg BT 383.71 593.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 434.39 593.10 Td (are ) Tj ET Q q 0 0 0 rg BT 450.61 593.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 498.49 593.10 Td (in ) Tj ET Q q 0 0 0 rg BT 510.28 593.10 Td (�Commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 95.87 581.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 130.58 581.10 Td (\(income\)� ) Tj ET Q q 0 0 0 rg BT 173.61 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 183.89 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 199.72 581.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 254.99 581.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 301.38 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.21 581.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 358.58 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 368.86 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 383.58 581.10 Td (period ) Tj ET Q q 0 0 0 rg BT 411.62 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 422.45 581.10 Td (change.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (Concentrations of Cr) Tj ET Q q 0 0 0 rg BT 139.86 557.10 Td (edit Risk) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 533.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 86.12 533.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 124.16 533.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 173.89 533.10 Td (that ) Tj ET Q q 0 0 0 rg BT 191.95 533.10 Td (are ) Tj ET Q q 0 0 0 rg BT 207.23 533.10 Td (exposed ) Tj ET Q q 0 0 0 rg BT 243.06 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 253.90 533.10 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 315.28 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.68 533.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 352.50 533.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 370.57 533.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 401.41 533.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 441.69 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 453.09 533.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 473.92 533.10 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 525.03 533.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 548.08 533.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 84.23 521.10 Td (production ) Tj ET Q q 0 0 0 rg BT 131.20 521.10 Td (receivables, ) Tj ET Q q 0 0 0 rg BT 182.31 521.10 Td (and ) Tj ET Q q 0 0 0 rg BT 200.39 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.26 521.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 259.88 521.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 310.19 521.10 Td (discussed ) Tj ET Q q 0 0 0 rg BT 352.16 521.10 Td (above.��Our ) Tj ET Q q 0 0 0 rg BT 402.74 521.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 424.15 521.10 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 473.33 521.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 513.62 521.10 Td (high-quality ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 90.40 509.10 Td (placed ) Tj ET Q q 0 0 0 rg BT 119.63 509.10 Td (with ) Tj ET Q q 0 0 0 rg BT 140.55 509.10 Td (various ) Tj ET Q q 0 0 0 rg BT 173.13 509.10 Td (investment-grade ) Tj ET Q q 0 0 0 rg BT 245.69 509.10 Td (institutions.��) Tj ET Q q 0 0 0 rg BT 297.46 509.10 Td (This ) Tj ET Q q 0 0 0 rg BT 318.38 509.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 365.40 509.10 Td (practice ) Tj ET Q q 0 0 0 rg BT 400.18 509.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 426.10 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 442.57 509.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 481.80 509.10 Td (to ) Tj ET Q q 0 0 0 rg BT 492.72 509.10 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 554.17 509.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 76.02 497.10 Td (risk.��Our ) Tj ET Q q 0 0 0 rg BT 117.84 497.10 Td (trade ) Tj ET Q q 0 0 0 rg BT 141.58 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 159.78 497.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 194.62 497.10 Td (production ) Tj ET Q q 0 0 0 rg BT 241.71 497.10 Td (receivables ) Tj ET Q q 0 0 0 rg BT 290.44 497.10 Td (are ) Tj ET Q q 0 0 0 rg BT 306.41 497.10 Td (dispersed ) Tj ET Q q 0 0 0 rg BT 347.94 497.10 Td (among ) Tj ET Q q 0 0 0 rg BT 378.91 497.10 Td (various ) Tj ET Q q 0 0 0 rg BT 412.11 497.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 456.42 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 474.62 497.10 Td (purchasers; ) Tj ET Q q 0 0 0 rg BT 523.92 497.10 Td (therefore, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (concentrations ) Tj ET Q q 0 0 0 rg BT 109.99 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 120.50 485.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 145.44 485.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 162.63 485.10 Td (are ) Tj ET Q q 0 0 0 rg BT 177.01 485.10 Td (limited.��) Tj ET Q q 0 0 0 rg BT 212.66 485.10 Td (W) Tj ET Q q 0 0 0 rg BT 221.30 485.10 Td (e ) Tj ET Q q 0 0 0 rg BT 227.92 485.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 263.41 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.81 485.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 302.75 485.10 Td (ratings ) Tj ET Q q 0 0 0 rg BT 332.15 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 342.66 485.10 Td (our ) Tj ET Q q 0 0 0 rg BT 358.17 485.10 Td (purchasers, ) Tj ET Q q 0 0 0 rg BT 405.61 485.10 Td (and ) Tj ET Q q 0 0 0 rg BT 422.22 485.10 Td (if ) Tj ET Q q 0 0 0 rg BT 430.51 485.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 473.24 485.10 Td (are ) Tj ET Q q 0 0 0 rg BT 487.63 485.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 533.12 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 539.74 485.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (risk, ) Tj ET Q q 0 0 0 rg BT 69.35 473.10 Td (letters ) Tj ET Q q 0 0 0 rg BT 96.13 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 106.80 473.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 131.91 473.10 Td (are ) Tj ET Q q 0 0 0 rg BT 146.47 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.03 473.10 Td (primary ) Tj ET Q q 0 0 0 rg BT 195.03 473.10 Td (security ) Tj ET Q q 0 0 0 rg BT 229.03 473.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 265.81 473.10 Td (to ) Tj ET Q q 0 0 0 rg BT 275.94 473.10 Td (support ) Tj ET Q q 0 0 0 rg BT 308.28 473.10 Td (lines ) Tj ET Q q 0 0 0 rg BT 329.51 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 340.19 473.10 Td (credit.��) Tj ET Q q 0 0 0 rg BT 370.27 473.10 Td (W) Tj ET Q q 0 0 0 rg BT 378.91 473.10 Td (e ) Tj ET Q q 0 0 0 rg BT 385.70 473.10 Td (attempt ) Tj ET Q q 0 0 0 rg BT 418.03 473.10 Td (to ) Tj ET Q q 0 0 0 rg BT 428.16 473.10 Td (minimize ) Tj ET Q q 0 0 0 rg BT 468.27 473.10 Td (our ) Tj ET Q q 0 0 0 rg BT 483.95 473.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 509.06 473.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 526.40 473.10 Td (exposure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.55 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.04 461.10 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 135.96 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.56 461.10 Td (our ) Tj ET Q q 0 0 0 rg BT 164.17 461.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 178.00 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.71 461.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 226.75 461.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 243.35 461.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 286.60 461.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 325.97 461.10 Td (through ) Tj ET Q q 0 0 0 rg BT 360.35 461.10 Td (formal ) Tj ET Q q 0 0 0 rg BT 390.28 461.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 416.32 461.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 453.20 461.10 Td (monitoring ) Tj ET Q q 0 0 0 rg BT 500.92 461.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 548.06 461.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (diversification.��) Tj ET Q q 0 0 0 rg BT 114.21 449.10 Td (All ) Tj ET Q q 0 0 0 rg BT 129.86 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 141.07 449.10 Td (our ) Tj ET Q q 0 0 0 rg BT 157.28 449.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 200.14 449.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 239.11 449.10 Td (are ) Tj ET Q q 0 0 0 rg BT 254.20 449.10 Td (with ) Tj ET Q q 0 0 0 rg BT 274.85 449.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 304.39 449.10 Td (that ) Tj ET Q q 0 0 0 rg BT 322.26 449.10 Td (are ) Tj ET Q q 0 0 0 rg BT 337.35 449.10 Td (lenders ) Tj ET Q q 0 0 0 rg BT 369.10 449.10 Td (under ) Tj ET Q q 0 0 0 rg BT 394.75 449.10 Td (our ) Tj ET Q q 0 0 0 rg BT 410.96 449.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 438.27 449.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 471.69 449.10 Td (bank ) Tj ET Q q 0 0 0 rg BT 494.01 449.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 519.65 449.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 550.85 449.10 Td (\(or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.09 437.10 Td (filiates ) Tj ET Q q 0 0 0 rg BT 86.80 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 97.63 437.10 Td (such ) Tj ET Q q 0 0 0 rg BT 118.46 437.10 Td (lenders\).��) Tj ET Q q 0 0 0 rg BT 157.99 437.10 Td (There ) Tj ET Q q 0 0 0 rg BT 183.80 437.10 Td (are ) Tj ET Q q 0 0 0 rg BT 198.51 437.10 Td (no ) Tj ET Q q 0 0 0 rg BT 211.01 437.10 Td (mar) Tj ET Q q 0 0 0 rg BT 226.38 437.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 241.65 437.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 296.36 437.10 Td (with ) Tj ET Q q 0 0 0 rg BT 316.63 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 331.35 437.10 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 390.49 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.32 437.10 Td (our ) Tj ET Q q 0 0 0 rg BT 417.15 437.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 459.63 437.10 Td (contracts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 413.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 82.99 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 100.14 413.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 130.62 413.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 146.66 413.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 168.81 413.10 Td (are ) Tj ET Q q 0 0 0 rg BT 183.73 413.10 Td (made ) Tj ET Q q 0 0 0 rg BT 208.10 413.10 Td (on ) Tj ET Q q 0 0 0 rg BT 220.81 413.10 Td (a ) Tj ET Q q 0 0 0 rg BT 227.96 413.10 Td (day-to-day ) Tj ET Q q 0 0 0 rg BT 273.99 413.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 296.70 413.10 Td (or ) Tj ET Q q 0 0 0 rg BT 307.74 413.10 Td (under ) Tj ET Q q 0 0 0 rg BT 333.23 413.10 Td (short-term ) Tj ET Q q 0 0 0 rg BT 377.59 413.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 416.40 413.10 Td (at ) Tj ET Q q 0 0 0 rg BT 426.33 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 441.26 413.10 Td (current ) Tj ET Q q 0 0 0 rg BT 472.29 413.10 Td (area ) Tj ET Q q 0 0 0 rg BT 491.64 413.10 Td (market ) Tj ET Q q 0 0 0 rg BT 522.12 413.10 Td (price.��) Tj ET Q q 0 0 0 rg BT 549.42 413.10 Td (W) Tj ET Q q 0 0 0 rg BT 558.06 413.10 Td (e ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (would ) Tj ET Q q 0 0 0 rg BT 76.35 401.10 Td (not ) Tj ET Q q 0 0 0 rg BT 90.98 401.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 118.92 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.99 401.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 150.40 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.58 401.10 Td (any ) Tj ET Q q 0 0 0 rg BT 176.87 401.10 Td (purchaser ) Tj ET Q q 0 0 0 rg BT 217.58 401.10 Td (to ) Tj ET Q q 0 0 0 rg BT 227.21 401.10 Td (have ) Tj ET Q q 0 0 0 rg BT 247.94 401.10 Td (a ) Tj ET Q q 0 0 0 rg BT 254.23 401.10 Td (material ) Tj ET Q q 0 0 0 rg BT 288.83 401.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 321.22 401.10 Td (ef) Tj ET Q q 0 0 0 rg BT 328.81 401.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 345.64 401.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 367.49 401.10 Td (our ) Tj ET Q q 0 0 0 rg BT 382.67 401.10 Td (operations.��For ) Tj ET Q q 0 0 0 rg BT 447.57 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 461.64 401.10 Td (year ) Tj ET Q q 0 0 0 rg BT 480.69 401.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.42 401.10 Td (December�31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 389.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.19 389.10 Td (two ) Tj ET Q q 0 0 0 rg BT 91.38 389.10 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 136.33 389.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 179.06 389.10 Td (for ) Tj ET Q q 0 0 0 rg BT 192.91 389.10 Td (10% ) Tj ET Q q 0 0 0 rg BT 213.43 389.10 Td (or ) Tj ET Q q 0 0 0 rg BT 223.95 389.10 Td (more ) Tj ET Q q 0 0 0 rg BT 246.69 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.21 389.10 Td (our ) Tj ET Q q 0 0 0 rg BT 272.73 389.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 285.48 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 302.11 389.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 332.07 389.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 347.59 389.10 Td (revenues: ) Tj ET Q q 0 0 0 rg BT 388.09 389.10 Td (Plains ) Tj ET Q q 0 0 0 rg BT 414.73 389.10 Td (Marketing ) Tj ET Q q 0 0 0 rg BT 458.58 389.10 Td (LP) Tj ET Q q 0 0 0 rg BT 469.88 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 472.07 389.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.40 389.10 Td (24%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.73 389.10 Td (\) ) Tj ET Q q 0 0 0 rg BT 499.25 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 515.88 389.10 Td (Hunt ) Tj ET Q q 0 0 0 rg BT 538.07 389.10 Td (Crude ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 65.06 377.10 Td (Supply ) Tj ET Q q 0 0 0 rg BT 96.18 377.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 137.85 377.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.18 377.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.51 377.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 168.12 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 170.91 377.10 Td (For ) Tj ET Q q 0 0 0 rg BT 187.58 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 202.58 377.10 Td (years ) Tj ET Q q 0 0 0 rg BT 226.46 377.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 253.12 377.10 Td (December ) Tj ET Q q 0 0 0 rg BT 296.99 377.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.27 377.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.27 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.05 377.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.27 377.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.27 377.10 Td (, ) Tj ET Q q 0 0 0 rg BT 377.55 377.10 Td (two ) Tj ET Q q 0 0 0 rg BT 395.33 377.10 Td (purchasers ) Tj ET Q q 0 0 0 rg BT 440.88 377.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 484.19 377.10 Td (for ) Tj ET Q q 0 0 0 rg BT 498.63 377.10 Td (10% ) Tj ET Q q 0 0 0 rg BT 519.75 377.10 Td (or ) Tj ET Q q 0 0 0 rg BT 530.86 377.10 Td (more ) Tj ET Q q 0 0 0 rg BT 554.19 377.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (our ) Tj ET Q q 0 0 0 rg BT 65.60 365.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 78.93 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 96.14 365.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 126.68 365.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 142.78 365.10 Td (revenues: ) Tj ET Q q 0 0 0 rg BT 183.87 365.10 Td (Plains ) Tj ET Q q 0 0 0 rg BT 211.09 365.10 Td (Marketing ) Tj ET Q q 0 0 0 rg BT 255.52 365.10 Td (LP) Tj ET Q q 0 0 0 rg BT 266.82 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 269.59 365.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.92 365.10 Td (22%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.25 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 294.02 365.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.23 365.10 Td (20%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.56 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.33 365.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.89 365.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.89 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 365.66 365.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.87 365.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.87 365.10 Td (, ) Tj ET Q q 0 0 0 rg BT 408.14 365.10 Td (respectively\) ) Tj ET Q q 0 0 0 rg BT 462.55 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.77 365.10 Td (Marathon ) Tj ET Q q 0 0 0 rg BT 521.42 365.10 Td (Petroleum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 90.89 353.10 Td (\() Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.22 353.10 Td (10%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 112.55 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.05 353.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.99 353.10 Td (14%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 150.32 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 152.82 353.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.09 353.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 183.09 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 185.59 353.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.53 353.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.53 353.10 Td (, ) Tj ET Q q 0 0 0 rg BT 227.53 353.10 Td (respectively\).) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (Other) Tj ET Q q 0 0 0 rg BT 74.87 329.10 Td ( Receivables) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 305.10 Td (Denbury) Tj ET Q q 0 0 0 rg BT 101.84 305.10 Td (, ) Tj ET Q q 0 0 0 rg BT 106.66 305.10 Td (along ) Tj ET Q q 0 0 0 rg BT 131.19 305.10 Td (with ) Tj ET Q q 0 0 0 rg BT 151.29 305.10 Td (other ) Tj ET Q q 0 0 0 rg BT 174.15 305.10 Td (companies, ) Tj ET Q q 0 0 0 rg BT 221.73 305.10 Td (has ) Tj ET Q q 0 0 0 rg BT 237.38 305.10 Td (supported ) Tj ET Q q 0 0 0 rg BT 279.13 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 293.67 305.10 Td (development ) Tj ET Q q 0 0 0 rg BT 347.63 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 358.28 305.10 Td (a ) Tj ET Q q 0 0 0 rg BT 365.04 305.10 Td (proposed ) Tj ET Q q 0 0 0 rg BT 404.01 305.10 Td (plant ) Tj ET Q q 0 0 0 rg BT 426.33 305.10 Td (in ) Tj ET Q q 0 0 0 rg BT 436.42 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 450.95 305.10 Td (Gulf ) Tj ET Q q 0 0 0 rg BT 471.60 305.10 Td (Coast ) Tj ET Q q 0 0 0 rg BT 496.70 305.10 Td (for ) Tj ET Q q 0 0 0 rg BT 510.67 305.10 Td (which ) Tj ET Q q 0 0 0 rg BT 537.43 305.10 Td (one ) Tj ET Q q 0 0 0 rg BT 554.18 305.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.68 293.10 Td (by-products ) Tj ET Q q 0 0 0 rg BT 115.41 293.10 Td (would ) Tj ET Q q 0 0 0 rg BT 143.38 293.10 Td (be ) Tj ET Q q 0 0 0 rg BT 155.78 293.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 169.67 291.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.92 293.10 Td (, ) Tj ET Q q 0 0 0 rg BT 178.38 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.79 293.10 Td (for ) Tj ET Q q 0 0 0 rg BT 210.41 293.10 Td (which ) Tj ET Q q 0 0 0 rg BT 237.81 293.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 275.77 293.10 Td (has ) Tj ET Q q 0 0 0 rg BT 292.06 293.10 Td (an ) Tj ET Q q 0 0 0 rg BT 304.46 293.10 Td (of) Tj ET Q q 0 0 0 rg BT 312.61 293.10 Td (ftake ) Tj ET Q q 0 0 0 rg BT 335.56 293.10 Td (agreement. ) Tj ET Q q 0 0 0 rg BT 382.67 293.10 Td ( ) Tj ET Q q 0 0 0 rg BT 385.63 293.10 Td (Since ) Tj ET Q q 0 0 0 rg BT 410.81 293.10 Td (early ) Tj ET Q q 0 0 0 rg BT 433.76 293.10 Td (2015, ) Tj ET Q q 0 0 0 rg BT 459.22 293.10 Td (we ) Tj ET Q q 0 0 0 rg BT 473.85 293.10 Td (have ) Tj ET Q q 0 0 0 rg BT 495.69 293.10 Td (made ) Tj ET Q q 0 0 0 rg BT 520.31 293.10 Td (successive ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 73.40 281.10 Td (towards ) Tj ET Q q 0 0 0 rg BT 107.85 281.10 Td (this ) Tj ET Q q 0 0 0 rg BT 125.09 281.10 Td (development, ) Tj ET Q q 0 0 0 rg BT 182.04 281.10 Td (which ) Tj ET Q q 0 0 0 rg BT 209.27 281.10 Td (totaled ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.27 281.10 Td ($16.9 ) Tj ET Q q 0 0 0 rg BT 264.56 281.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.45 281.10 Td ( ) Tj ET Q q 0 0 0 rg BT 296.25 281.10 Td (at ) Tj ET Q q 0 0 0 rg BT 306.25 281.10 Td (December ) Tj ET Q q 0 0 0 rg BT 350.13 281.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 365.42 281.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 390.71 281.10 Td ( ) Tj ET Q q 0 0 0 rg BT 393.30 281.10 Td (The ) Tj ET Q q 0 0 0 rg BT 411.64 281.10 Td (loan ) Tj ET Q q 0 0 0 rg BT 431.65 281.10 Td (is ) Tj ET Q q 0 0 0 rg BT 441.11 281.10 Td (to ) Tj ET Q q 0 0 0 rg BT 451.68 281.10 Td (be ) Tj ET Q q 0 0 0 rg BT 463.91 281.10 Td (repaid ) Tj ET Q q 0 0 0 rg BT 491.69 281.10 Td (at ) Tj ET Q q 0 0 0 rg BT 501.70 281.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 539.47 281.10 Td (close. ) Tj ET Q q 0 0 0 rg BT 565.02 281.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (W) Tj ET Q q 0 0 0 rg BT 58.14 269.10 Td (e ) Tj ET Q q 0 0 0 rg BT 64.69 269.10 Td (understand ) Tj ET Q q 0 0 0 rg BT 110.68 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 125.01 269.10 Td (project ) Tj ET Q q 0 0 0 rg BT 154.89 269.10 Td (is ) Tj ET Q q 0 0 0 rg BT 163.67 269.10 Td (supported ) Tj ET Q q 0 0 0 rg BT 205.22 269.10 Td (by ) Tj ET Q q 0 0 0 rg BT 217.33 269.10 Td (multiple ) Tj ET Q q 0 0 0 rg BT 252.78 269.10 Td (of) Tj ET Q q 0 0 0 rg BT 260.93 269.10 Td (ftake ) Tj ET Q q 0 0 0 rg BT 283.03 269.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 330.67 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 341.12 269.10 Td (various ) Tj ET Q q 0 0 0 rg BT 372.67 269.10 Td (products ) Tj ET Q q 0 0 0 rg BT 409.22 269.10 Td (and ) Tj ET Q q 0 0 0 rg BT 425.77 269.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 448.99 269.10 Td (from ) Tj ET Q q 0 0 0 rg BT 470.54 269.10 Td (several ) Tj ET Q q 0 0 0 rg BT 500.97 269.10 Td (other ) Tj ET Q q 0 0 0 rg BT 523.63 269.10 Td (interested ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 78.67 257.10 Td (and ) Tj ET Q q 0 0 0 rg BT 95.63 257.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 118.69 257.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 145.09 257.10 Td (have ) Tj ET Q q 0 0 0 rg BT 166.48 257.10 Td (been ) Tj ET Q q 0 0 0 rg BT 187.87 257.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 217.04 257.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 239.55 257.10 Td (for ) Tj ET Q q 0 0 0 rg BT 253.73 257.10 Td (engineering, ) Tj ET Q q 0 0 0 rg BT 305.95 257.10 Td (procurement ) Tj ET Q q 0 0 0 rg BT 359.00 257.10 Td (and ) Tj ET Q q 0 0 0 rg BT 375.96 257.10 Td (construction ) Tj ET Q q 0 0 0 rg BT 427.91 257.10 Td (services. ) Tj ET Q q 0 0 0 rg BT 465.13 257.10 Td ( ) Tj ET Q q 0 0 0 rg BT 467.46 257.10 Td (W) Tj ET Q q 0 0 0 rg BT 476.10 257.10 Td (e ) Tj ET Q q 0 0 0 rg BT 483.06 257.10 Td (have ) Tj ET Q q 0 0 0 rg BT 504.45 257.10 Td (been ) Tj ET Q q 0 0 0 rg BT 525.85 257.10 Td (informed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (by ) Tj ET Q q 0 0 0 rg BT 61.54 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.79 245.10 Td (project ) Tj ET Q q 0 0 0 rg BT 105.60 245.10 Td (developer ) Tj ET Q q 0 0 0 rg BT 147.06 245.10 Td (that ) Tj ET Q q 0 0 0 rg BT 164.09 245.10 Td (it ) Tj ET Q q 0 0 0 rg BT 171.69 245.10 Td (has ) Tj ET Q q 0 0 0 rg BT 187.06 245.10 Td (been ) Tj ET Q q 0 0 0 rg BT 207.97 245.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 250.55 245.10 Td (and ) Tj ET Q q 0 0 0 rg BT 267.03 245.10 Td (negotiating ) Tj ET Q q 0 0 0 rg BT 314.06 245.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 360.52 245.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 384.77 245.10 Td (with ) Tj ET Q q 0 0 0 rg BT 404.59 245.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 441.62 245.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 468.65 245.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 506.80 245.10 Td (for ) Tj ET Q q 0 0 0 rg BT 520.50 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.75 245.10 Td (project ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (during ) Tj ET Q q 0 0 0 rg BT 77.70 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.00 233.10 Td (past ) Tj ET Q q 0 0 0 rg BT 110.20 233.10 Td (year; ) Tj ET Q q 0 0 0 rg BT 132.28 233.10 Td (however) Tj ET Q q 0 0 0 rg BT 166.31 233.10 Td (, ) Tj ET Q q 0 0 0 rg BT 170.90 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 185.20 233.10 Td (expectation ) Tj ET Q q 0 0 0 rg BT 233.38 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 243.80 233.10 Td (a ) Tj ET Q q 0 0 0 rg BT 250.33 233.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 287.40 233.10 Td (close ) Tj ET Q q 0 0 0 rg BT 310.04 233.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 349.33 233.10 Td (by ) Tj ET Q q 0 0 0 rg BT 361.42 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.73 233.10 Td (developer ) Tj ET Q q 0 0 0 rg BT 417.24 233.10 Td (continues ) Tj ET Q q 0 0 0 rg BT 457.65 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 467.52 233.10 Td (be ) Tj ET Q q 0 0 0 rg BT 479.05 233.10 Td (delayed. ) Tj ET Q q 0 0 0 rg BT 514.73 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 516.82 233.10 Td (In ) Tj ET Q q 0 0 0 rg BT 527.24 233.10 Td (addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.51 221.10 Td (project ) Tj ET Q q 0 0 0 rg BT 95.08 221.10 Td (developer ) Tj ET Q q 0 0 0 rg BT 137.30 221.10 Td (has ) Tj ET Q q 0 0 0 rg BT 153.43 221.10 Td (informed ) Tj ET Q q 0 0 0 rg BT 192.88 221.10 Td (us ) Tj ET Q q 0 0 0 rg BT 204.57 221.10 Td (that ) Tj ET Q q 0 0 0 rg BT 222.36 221.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 260.15 221.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 287.94 221.10 Td (investors ) Tj ET Q q 0 0 0 rg BT 326.85 221.10 Td (are ) Tj ET Q q 0 0 0 rg BT 341.85 221.10 Td (interested ) Tj ET Q q 0 0 0 rg BT 383.52 221.10 Td (in ) Tj ET Q q 0 0 0 rg BT 394.10 221.10 Td (obtaining ) Tj ET Q q 0 0 0 rg BT 434.67 221.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 467.46 221.10 Td (45Q ) Tj ET Q q 0 0 0 rg BT 487.48 221.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 502.50 221.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 531.95 221.10 Td (seeking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (certification ) Tj ET Q q 0 0 0 rg BT 100.76 209.10 Td (of ) Tj ET Q q 0 0 0 rg BT 112.05 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.23 209.10 Td (captured ) Tj ET Q q 0 0 0 rg BT 164.61 209.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 178.50 207.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.75 209.10 Td ( ) Tj ET Q q 0 0 0 rg BT 184.71 209.10 Td (from ) Tj ET Q q 0 0 0 rg BT 207.11 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 222.29 209.10 Td (proposed ) Tj ET Q q 0 0 0 rg BT 261.90 209.10 Td (plant ) Tj ET Q q 0 0 0 rg BT 284.86 209.10 Td (being ) Tj ET Q q 0 0 0 rg BT 310.03 209.10 Td (safely ) Tj ET Q q 0 0 0 rg BT 336.87 209.10 Td (and ) Tj ET Q q 0 0 0 rg BT 354.27 209.10 Td (securely ) Tj ET Q q 0 0 0 rg BT 390.54 209.10 Td (stored ) Tj ET Q q 0 0 0 rg BT 417.94 209.10 Td (in ) Tj ET Q q 0 0 0 rg BT 428.68 209.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 471.07 209.10 Td (geological ) Tj ET Q q 0 0 0 rg BT 515.68 209.10 Td (storage ) Tj ET Q q 0 0 0 rg BT 547.52 209.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (will ) Tj ET Q q 0 0 0 rg BT 67.57 197.10 Td (have ) Tj ET Q q 0 0 0 rg BT 88.95 197.10 Td (to ) Tj ET Q q 0 0 0 rg BT 99.24 197.10 Td (be ) Tj ET Q q 0 0 0 rg BT 111.19 197.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 154.79 197.10 Td (in ) Tj ET Q q 0 0 0 rg BT 165.08 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 179.81 197.10 Td (future. ) Tj ET Q q 0 0 0 rg BT 208.69 197.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.20 197.10 Td (Currently) Tj ET Q q 0 0 0 rg BT 248.88 197.10 Td (, ) Tj ET Q q 0 0 0 rg BT 253.89 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 268.62 197.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 323.33 197.10 Td (to ) Tj ET Q q 0 0 0 rg BT 333.62 197.10 Td (qualify ) Tj ET Q q 0 0 0 rg BT 364.45 197.10 Td (for ) Tj ET Q q 0 0 0 rg BT 378.62 197.10 Td (Section ) Tj ET Q q 0 0 0 rg BT 411.13 197.10 Td (45Q ) Tj ET Q q 0 0 0 rg BT 430.86 197.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 445.58 197.10 Td (credits ) Tj ET Q q 0 0 0 rg BT 474.75 197.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 518.35 197.10 Td (with ) Tj ET Q q 0 0 0 rg BT 538.64 197.10 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (carbon ) Tj ET Q q 0 0 0 rg BT 78.44 185.10 Td (capture ) Tj ET Q q 0 0 0 rg BT 109.60 185.10 Td (and ) Tj ET Q q 0 0 0 rg BT 125.77 185.10 Td (sequestration ) Tj ET Q q 0 0 0 rg BT 180.27 185.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 223.66 185.10 Td (are ) Tj ET Q q 0 0 0 rg BT 237.60 185.10 Td (not ) Tj ET Q q 0 0 0 rg BT 252.11 185.10 Td (clear) Tj ET Q q 0 0 0 rg BT 271.13 185.10 Td (, ) Tj ET Q q 0 0 0 rg BT 275.36 185.10 Td (as ) Tj ET Q q 0 0 0 rg BT 285.43 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.38 185.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 318.77 185.10 Td (T) Tj ET Q q 0 0 0 rg BT 324.53 185.10 Td (reasury ) Tj ET Q q 0 0 0 rg BT 355.69 185.10 Td (\(in ) Tj ET Q q 0 0 0 rg BT 368.53 185.10 Td (consultation ) Tj ET Q q 0 0 0 rg BT 419.15 185.10 Td (with ) Tj ET Q q 0 0 0 rg BT 438.66 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 452.61 185.10 Td (EP) Tj ET Q q 0 0 0 rg BT 463.36 185.10 Td (A, ) Tj ET Q q 0 0 0 rg BT 474.81 185.10 Td (Department ) Tj ET Q q 0 0 0 rg BT 523.75 185.10 Td (of ) Tj ET Q q 0 0 0 rg BT 533.81 185.10 Td (Ener) Tj ET Q q 0 0 0 rg BT 552.51 185.10 Td (gy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.58 173.10 Td (the ) Tj ET Q q 0 0 0 rg BT 81.43 173.10 Td (Department ) Tj ET Q q 0 0 0 rg BT 131.27 173.10 Td (of ) Tj ET Q q 0 0 0 rg BT 142.24 173.10 Td (Interior\) ) Tj ET Q q 0 0 0 rg BT 178.19 173.10 Td (have ) Tj ET Q q 0 0 0 rg BT 199.71 173.10 Td (not ) Tj ET Q q 0 0 0 rg BT 215.13 173.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 242.76 173.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 289.84 173.10 Td (for ) Tj ET Q q 0 0 0 rg BT 304.13 173.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 355.09 173.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 393.26 173.10 Td (security ) Tj ET Q q 0 0 0 rg BT 427.56 173.10 Td (measures ) Tj ET Q q 0 0 0 rg BT 467.40 173.10 Td (for ) Tj ET Q q 0 0 0 rg BT 481.70 173.10 Td (the ) Tj ET Q q 0 0 0 rg BT 496.55 173.10 Td (geologic ) Tj ET Q q 0 0 0 rg BT 533.63 173.10 Td (storage ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.62 161.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 74.51 159.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 77.76 161.10 Td ( ) Tj ET Q q 0 0 0 rg BT 80.56 161.10 Td (as ) Tj ET Q q 0 0 0 rg BT 91.68 161.10 Td (required ) Tj ET Q q 0 0 0 rg BT 127.78 161.10 Td (by ) Tj ET Q q 0 0 0 rg BT 140.58 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.59 161.10 Td (Bipartisan ) Tj ET Q q 0 0 0 rg BT 199.48 161.10 Td (Budget ) Tj ET Q q 0 0 0 rg BT 230.54 161.10 Td (Act ) Tj ET Q q 0 0 0 rg BT 247.77 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 258.90 161.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 284.19 161.10 Td ( ) Tj ET Q q 0 0 0 rg BT 286.36 161.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 326.93 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 341.94 161.10 Td (project ) Tj ET Q q 0 0 0 rg BT 372.50 161.10 Td (developer ) Tj ET Q q 0 0 0 rg BT 414.71 161.10 Td (continues ) Tj ET Q q 0 0 0 rg BT 455.83 161.10 Td (to ) Tj ET Q q 0 0 0 rg BT 466.40 161.10 Td (work ) Tj ET Q q 0 0 0 rg BT 489.75 161.10 Td (toward ) Tj ET Q q 0 0 0 rg BT 520.31 161.10 Td (a ) Tj ET Q q 0 0 0 rg BT 527.54 161.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (close, ) Tj ET Q q 0 0 0 rg BT 75.95 149.10 Td (due ) Tj ET Q q 0 0 0 rg BT 93.80 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 104.98 149.10 Td (these ) Tj ET Q q 0 0 0 rg BT 128.93 149.10 Td (uncertainties, ) Tj ET Q q 0 0 0 rg BT 185.93 149.10 Td (we ) Tj ET Q q 0 0 0 rg BT 200.99 149.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 233.27 149.10 Td (it ) Tj ET Q q 0 0 0 rg BT 242.23 149.10 Td (is ) Tj ET Q q 0 0 0 rg BT 252.31 149.10 Td (unclear ) Tj ET Q q 0 0 0 rg BT 285.14 149.10 Td (that ) Tj ET Q q 0 0 0 rg BT 303.54 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.16 149.10 Td (project ) Tj ET Q q 0 0 0 rg BT 350.33 149.10 Td (developer ) Tj ET Q q 0 0 0 rg BT 393.16 149.10 Td (will ) Tj ET Q q 0 0 0 rg BT 412.12 149.10 Td (be ) Tj ET Q q 0 0 0 rg BT 424.97 149.10 Td (able ) Tj ET Q q 0 0 0 rg BT 445.03 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 456.21 149.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 485.16 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 500.78 149.10 Td (required ) Tj ET Q q 0 0 0 rg BT 537.50 149.10 Td (equity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (investment ) Tj ET Q q 0 0 0 rg BT 95.83 137.10 Td (and ) Tj ET Q q 0 0 0 rg BT 112.71 137.10 Td (achieve ) Tj ET Q q 0 0 0 rg BT 145.69 137.10 Td (a ) Tj ET Q q 0 0 0 rg BT 152.58 137.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 190.00 137.10 Td (close. ) Tj ET Q q 0 0 0 rg BT 215.50 137.10 Td ( ) Tj ET Q q 0 0 0 rg BT 217.77 137.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 262.13 137.10 Td (we ) Tj ET Q q 0 0 0 rg BT 276.23 137.10 Td (have ) Tj ET Q q 0 0 0 rg BT 297.56 137.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 334.98 137.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.86 137.10 Td ($16.9 ) Tj ET Q q 0 0 0 rg BT 366.81 137.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 395.70 137.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.15 137.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 441.13 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 451.35 137.10 Td (fully ) Tj ET Q q 0 0 0 rg BT 472.68 137.10 Td (impair ) Tj ET Q q 0 0 0 rg BT 501.23 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.90 137.10 Td (loan, ) Tj ET Q q 0 0 0 rg BT 538.06 137.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (is ) Tj ET Q q 0 0 0 rg BT 58.67 125.10 Td (included ) Tj ET Q q 0 0 0 rg BT 95.60 125.10 Td (within ) Tj ET Q q 0 0 0 rg BT 123.66 125.10 Td (�Other ) Tj ET Q q 0 0 0 rg BT 153.37 125.10 Td (expenses� ) Tj ET Q q 0 0 0 rg BT 196.40 125.10 Td (in ) Tj ET Q q 0 0 0 rg BT 206.68 125.10 Td (our ) Tj ET Q q 0 0 0 rg BT 222.51 125.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 277.79 125.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 324.17 125.10 Td (of ) Tj ET Q q 0 0 0 rg BT 335.00 125.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 381.38 125.10 Td (for ) Tj ET Q q 0 0 0 rg BT 395.54 125.10 Td (the ) Tj ET Q q 0 0 0 rg BT 410.25 125.10 Td (year ) Tj ET Q q 0 0 0 rg BT 429.96 125.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 456.34 125.10 Td (December ) Tj ET Q q 0 0 0 rg BT 499.92 125.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 514.92 125.10 Td (2018.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 83.48 101.10 Td (T) Tj ET Q q 0 0 0 rg BT 89.23 101.10 Td (axes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 77.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 100.29 77.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 123.64 77.10 Td (are ) Tj ET Q q 0 0 0 rg BT 138.65 77.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 181.99 77.10 Td (for ) Tj ET Q q 0 0 0 rg BT 196.46 77.10 Td (using ) Tj ET Q q 0 0 0 rg BT 220.93 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.95 77.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 258.20 77.10 Td (and ) Tj ET Q q 0 0 0 rg BT 275.44 77.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 309.36 77.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 344.66 77.10 Td (under ) Tj ET Q q 0 0 0 rg BT 370.23 77.10 Td (which ) Tj ET Q q 0 0 0 rg BT 397.47 77.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 433.58 77.10 Td (income ) Tj ET Q q 0 0 0 rg BT 465.82 77.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 489.17 77.10 Td (are ) Tj ET Q q 0 0 0 rg BT 504.19 77.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 550.85 77.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.63 65.10 Td (future ) Tj ET Q q 0 0 0 rg BT 89.42 65.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 103.55 65.10 Td (ef) Tj ET Q q 0 0 0 rg BT 111.14 65.10 Td (fects ) Tj ET Q q 0 0 0 rg BT 131.93 65.10 Td (of ) Tj ET Q q 0 0 0 rg BT 142.17 65.10 Td (temporary ) Tj ET Q q 0 0 0 rg BT 185.18 65.10 Td (dif) Tj ET Q q 0 0 0 rg BT 196.11 65.10 Td (ferences ) Tj ET Q q 0 0 0 rg BT 231.32 65.10 Td (between ) Tj ET Q q 0 0 0 rg BT 266.55 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.68 65.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 317.58 65.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 357.81 65.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 393.04 65.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 428.84 65.10 Td (and ) Tj ET Q q 0 0 0 rg BT 445.19 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 459.32 65.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 473.45 65.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 495.36 65.10 Td (of ) Tj ET Q q 0 0 0 rg BT 505.61 65.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 539.18 65.10 Td (assets ) Tj ET Q endstream endobj 151 0 obj <> endobj 152 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.65 713.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 106.58 713.10 Td (using ) Tj ET Q q 0 0 0 rg BT 130.96 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.89 713.10 Td (enacted ) Tj ET Q q 0 0 0 rg BT 179.14 713.10 Td (statutory ) Tj ET Q q 0 0 0 rg BT 216.84 713.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 231.77 713.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 253.36 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 263.85 713.10 Td (ef) Tj ET Q q 0 0 0 rg BT 271.44 713.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 289.14 713.10 Td (at ) Tj ET Q q 0 0 0 rg BT 299.07 713.10 Td (year ) Tj ET Q q 0 0 0 rg BT 318.99 713.10 Td (end.��) Tj ET Q q 0 0 0 rg BT 340.75 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 359.00 713.10 Td (ef) Tj ET Q q 0 0 0 rg BT 366.59 713.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 384.29 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 397.00 713.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 433.02 713.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 456.28 713.10 Td (for ) Tj ET Q q 0 0 0 rg BT 470.65 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 477.80 713.10 Td (change ) Tj ET Q q 0 0 0 rg BT 508.83 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 519.32 713.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 534.25 713.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 555.84 713.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 96.39 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 107.21 701.10 Td (income ) Tj ET Q q 0 0 0 rg BT 139.67 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 150.48 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 165.73 701.10 Td (period ) Tj ET Q q 0 0 0 rg BT 194.31 701.10 Td (that ) Tj ET Q q 0 0 0 rg BT 212.34 701.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 248.69 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 263.94 701.10 Td (enactment ) Tj ET Q q 0 0 0 rg BT 308.06 701.10 Td (date.��) Tj ET Q q 0 0 0 rg BT 331.67 701.10 Td (A) Tj ET Q q 0 0 0 rg BT 338.34 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 341.37 701.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 381.61 701.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 425.18 701.10 Td (for ) Tj ET Q q 0 0 0 rg BT 439.87 701.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 476.21 701.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 491.46 701.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 517.82 701.10 Td (is ) Tj ET Q q 0 0 0 rg BT 527.52 701.10 Td (recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (when ) Tj ET Q q 0 0 0 rg BT 73.66 689.10 Td (it ) Tj ET Q q 0 0 0 rg BT 81.72 689.10 Td (is ) Tj ET Q q 0 0 0 rg BT 90.89 689.10 Td (more ) Tj ET Q q 0 0 0 rg BT 113.93 689.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 139.21 689.10 Td (than ) Tj ET Q q 0 0 0 rg BT 158.92 689.10 Td (not ) Tj ET Q q 0 0 0 rg BT 174.20 689.10 Td (that ) Tj ET Q q 0 0 0 rg BT 191.70 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 206.41 689.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 236.68 689.10 Td (from ) Tj ET Q q 0 0 0 rg BT 258.62 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.33 689.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 309.14 689.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 323.86 689.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 345.79 689.10 Td (will ) Tj ET Q q 0 0 0 rg BT 363.85 689.10 Td (not ) Tj ET Q q 0 0 0 rg BT 379.13 689.10 Td (be ) Tj ET Q q 0 0 0 rg BT 391.07 689.10 Td (realized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 665.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 665.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.81 665.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 125.90 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.34 665.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 156.79 665.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 187.78 665.10 Td (from ) Tj ET Q q 0 0 0 rg BT 210.45 665.10 Td (an ) Tj ET Q q 0 0 0 rg BT 223.12 665.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 263.55 665.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 278.99 665.10 Td (position ) Tj ET Q q 0 0 0 rg BT 314.45 665.10 Td (only ) Tj ET Q q 0 0 0 rg BT 335.46 665.10 Td (if ) Tj ET Q q 0 0 0 rg BT 344.79 665.10 Td (it ) Tj ET Q q 0 0 0 rg BT 353.58 665.10 Td (is ) Tj ET Q q 0 0 0 rg BT 363.48 665.10 Td (more ) Tj ET Q q 0 0 0 rg BT 387.25 665.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 413.26 665.10 Td (than ) Tj ET Q q 0 0 0 rg BT 433.70 665.10 Td (not ) Tj ET Q q 0 0 0 rg BT 449.71 665.10 Td (that ) Tj ET Q q 0 0 0 rg BT 467.93 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 483.38 665.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 498.82 665.10 Td (position ) Tj ET Q q 0 0 0 rg BT 534.28 665.10 Td (will ) Tj ET Q q 0 0 0 rg BT 553.07 665.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (sustained ) Tj ET Q q 0 0 0 rg BT 89.36 653.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 112.01 653.10 Td (examination ) Tj ET Q q 0 0 0 rg BT 164.08 653.10 Td (by ) Tj ET Q q 0 0 0 rg BT 176.73 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 191.59 653.10 Td (taxing ) Tj ET Q q 0 0 0 rg BT 219.24 653.10 Td (authorities, ) Tj ET Q q 0 0 0 rg BT 266.59 653.10 Td (based ) Tj ET Q q 0 0 0 rg BT 292.01 653.10 Td (on ) Tj ET Q q 0 0 0 rg BT 304.66 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.52 653.10 Td (technical ) Tj ET Q q 0 0 0 rg BT 358.25 653.10 Td (merits ) Tj ET Q q 0 0 0 rg BT 385.90 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 396.87 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 411.74 653.10 Td (position.��) Tj ET Q q 0 0 0 rg BT 451.28 653.10 Td (The ) Tj ET Q q 0 0 0 rg BT 469.48 653.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 484.34 653.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 518.64 653.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.90 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.73 641.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 112.33 641.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 157.17 641.10 Td (from ) Tj ET Q q 0 0 0 rg BT 179.22 641.10 Td (such ) Tj ET Q q 0 0 0 rg BT 200.17 641.10 Td (a ) Tj ET Q q 0 0 0 rg BT 207.23 641.10 Td (position ) Tj ET Q q 0 0 0 rg BT 242.08 641.10 Td (are ) Tj ET Q q 0 0 0 rg BT 256.90 641.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 297.84 641.10 Td (based ) Tj ET Q q 0 0 0 rg BT 323.23 641.10 Td (on ) Tj ET Q q 0 0 0 rg BT 335.85 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.68 641.10 Td (lar) Tj ET Q q 0 0 0 rg BT 361.05 641.10 Td (gest ) Tj ET Q q 0 0 0 rg BT 379.78 641.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 410.16 641.10 Td (that ) Tj ET Q q 0 0 0 rg BT 427.78 641.10 Td (has ) Tj ET Q q 0 0 0 rg BT 443.73 641.10 Td (a ) Tj ET Q q 0 0 0 rg BT 450.78 641.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 481.16 641.10 Td (than ) Tj ET Q q 0 0 0 rg BT 500.99 641.10 Td (50% ) Tj ET Q q 0 0 0 rg BT 521.94 641.10 Td (likelihood ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.33 629.10 Td (being ) Tj ET Q q 0 0 0 rg BT 85.05 629.10 Td (realized ) Tj ET Q q 0 0 0 rg BT 119.19 629.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 141.69 629.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 176.96 629.10 Td (settlement.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 66.99 605.10 Td (Income ) Tj ET Q q 0 0 0 rg BT 101.15 605.10 Td (\(Loss\) ) Tj ET Q q 0 0 0 rg BT 129.76 605.10 Td (per) Tj ET Q q 0 0 0 rg BT 144.02 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 146.52 605.10 Td (Common ) Tj ET Q q 0 0 0 rg BT 188.46 605.10 Td (Shar) Tj ET Q q 0 0 0 rg BT 208.85 605.10 Td (e) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 213.28 605.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 581.10 Td (Basic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.70 581.10 Td (net ) Tj ET Q q 0 0 0 rg BT 105.90 581.10 Td (income ) Tj ET Q q 0 0 0 rg BT 137.31 581.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 161.51 581.10 Td (per ) Tj ET Q q 0 0 0 rg BT 176.26 581.10 Td (common ) Tj ET Q q 0 0 0 rg BT 213.24 581.10 Td (share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.34 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 236.32 581.10 Td (is ) Tj ET Q q 0 0 0 rg BT 244.97 581.10 Td (computed ) Tj ET Q q 0 0 0 rg BT 286.39 581.10 Td (by ) Tj ET Q q 0 0 0 rg BT 298.37 581.10 Td (dividing ) Tj ET Q q 0 0 0 rg BT 333.69 581.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.88 581.10 Td (net ) Tj ET Q q 0 0 0 rg BT 362.08 581.10 Td (income ) Tj ET Q q 0 0 0 rg BT 393.50 581.10 Td (\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 415.72 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 417.70 581.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 465.22 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 474.98 581.10 Td (common ) Tj ET Q q 0 0 0 rg BT 511.96 581.10 Td (stockholders ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (by ) Tj ET Q q 0 0 0 rg BT 61.45 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.62 569.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 114.22 569.10 Td (average ) Tj ET Q q 0 0 0 rg BT 147.25 569.10 Td (number ) Tj ET Q q 0 0 0 rg BT 179.75 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.03 569.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 216.97 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 227.25 569.10 Td (common ) Tj ET Q q 0 0 0 rg BT 264.20 569.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 287.25 569.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 335.87 569.10 Td (during ) Tj ET Q q 0 0 0 rg BT 363.93 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.09 569.10 Td (period.��Diluted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 443.08 569.10 Td (net ) Tj ET Q q 0 0 0 rg BT 457.25 569.10 Td (income ) Tj ET Q q 0 0 0 rg BT 488.63 569.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 512.81 569.10 Td (per ) Tj ET Q q 0 0 0 rg BT 527.52 569.10 Td (common ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 70.60 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 73.54 557.10 Td (is ) Tj ET Q q 0 0 0 rg BT 83.16 557.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 126.63 557.10 Td (in ) Tj ET Q q 0 0 0 rg BT 137.35 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.51 557.10 Td (same ) Tj ET Q q 0 0 0 rg BT 176.00 557.10 Td (manner) Tj ET Q q 0 0 0 rg BT 205.59 557.10 Td (, ) Tj ET Q q 0 0 0 rg BT 211.03 557.10 Td (but ) Tj ET Q q 0 0 0 rg BT 226.76 557.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 263.03 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.19 557.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 308.34 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.62 557.10 Td (potentially ) Tj ET Q q 0 0 0 rg BT 365.33 557.10 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 398.83 557.10 Td (securities. ) Tj ET Q q 0 0 0 rg BT 442.03 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 444.98 557.10 Td (Potentially ) Tj ET Q q 0 0 0 rg BT 491.25 557.10 Td (dilutive ) Tj ET Q q 0 0 0 rg BT 524.75 557.10 Td (securities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (consist ) Tj ET Q q 0 0 0 rg BT 79.31 545.10 Td (of ) Tj ET Q q 0 0 0 rg BT 89.67 545.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 132.25 545.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 171.48 545.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 197.12 545.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 220.26 545.10 Td (appreciation ) Tj ET Q q 0 0 0 rg BT 271.71 545.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 296.52 545.10 Td (\(�SARs�\), ) Tj ET Q q 0 0 0 rg BT 339.93 545.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 382.51 545.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 461.17 545.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 488.19 545.10 Td (awards, ) Tj ET Q q 0 0 0 rg BT 521.04 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 537.51 545.10 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (into ) Tj ET Q q 0 0 0 rg BT 67.56 533.10 Td (which ) Tj ET Q q 0 0 0 rg BT 94.50 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 110.33 533.10 Td (previously-outstanding ) Tj ET Q q 0 0 0 rg BT 205.04 533.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 252.52 533.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 279.46 533.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 303.06 533.10 Td (were ) Tj ET Q q 0 0 0 rg BT 324.99 533.10 Td (convertible.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 509.10 Td (The ) Tj ET Q q 0 0 0 rg BT 86.51 509.10 Td (following ) Tj ET Q q 0 0 0 rg BT 128.87 509.10 Td (table ) Tj ET Q q 0 0 0 rg BT 151.76 509.10 Td (sets ) Tj ET Q q 0 0 0 rg BT 170.23 509.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 193.13 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.82 509.10 Td (reconciliations ) Tj ET Q q 0 0 0 rg BT 271.15 509.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.95 509.10 Td (net ) Tj ET Q q 0 0 0 rg BT 298.63 509.10 Td (income ) Tj ET Q q 0 0 0 rg BT 331.53 509.10 Td (\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.75 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 357.22 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 375.12 509.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 415.24 509.10 Td (average ) Tj ET Q q 0 0 0 rg BT 449.79 509.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 478.25 509.10 Td (used ) Tj ET Q q 0 0 0 rg BT 500.04 509.10 Td (for ) Tj ET Q q 0 0 0 rg BT 515.17 509.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 554.19 509.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (calculating ) Tj ET Q q 0 0 0 rg BT 95.87 497.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 118.91 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 135.85 497.10 Td (diluted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.13 497.10 Td (net ) Tj ET Q q 0 0 0 rg BT 180.84 497.10 Td (income ) Tj ET Q q 0 0 0 rg BT 212.78 497.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 237.50 497.10 Td (per ) Tj ET Q q 0 0 0 rg BT 252.77 497.10 Td (common ) Tj ET Q q 0 0 0 rg BT 290.26 497.10 Td (share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.36 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 313.86 497.10 Td (for ) Tj ET Q q 0 0 0 rg BT 328.02 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.74 497.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 374.68 497.10 Td (indicated:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 460.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 460.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 460.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 460.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 460.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 460.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 460.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 430.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 430.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 430.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 430.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 430.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 400.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 400.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 400.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 400.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 400.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 370.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 370.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 370.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 370.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 370.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 340.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 340.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 340.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 340.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 340.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 340.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 340.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 310.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 310.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 310.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 310.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 310.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 310.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 310.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 473.6 m 425 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 473.6 m 429 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 473.6 m 494 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 473.6 m 498 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 473.6 m 563 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 460.6 m 356 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 473.6 m 425 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 460.6 m 425 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 473.6 m 429 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 473.6 m 494 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 460.6 m 494 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 473.6 m 498 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 473.6 m 563 473.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 460.6 m 563 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 460.6 m 425 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 460.6 m 494 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 460.6 m 563 460.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 400.6 m 425 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 386.6 m 425 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 384.6 m 425 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 400.6 m 494 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 386.6 m 494 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 384.6 m 494 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 400.6 m 563 400.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 386.6 m 563 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 384.6 m 563 384.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 295.6 m 425 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 295.6 m 494 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 295.6 m 563 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 295.6 m 425 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 281.6 m 425 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 279.6 m 425 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 295.6 m 494 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 281.6 m 494 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 279.6 m 494 279.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 295.6 m 563 295.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 281.6 m 563 281.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 279.6 m 563 279.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 477.17 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 477.17 Td (Y) Tj ET Q q 0 0 0 rg BT 415.17 477.17 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 464.16 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 464.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 464.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 464.17 Td (2016) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 450.28 Td (Numerator) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 435.27 Td (Net income \(loss\) � basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 435.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 435.27 Td (322,698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 435.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 435.27 Td (163,152) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 435.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 435.32 Td (\(976,177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 435.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 420.27 Td (Ef) Tj ET Q q 0 0 0 rg BT 61.85 420.27 Td (fect of potentially dilutive securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 405.27 Td (Interest on convertible senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.15 405.27 Td (539) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 405.27 Td (49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 405.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 390.27 Td (Net income \(loss\) � diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 390.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 390.27 Td (323,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 390.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 390.27 Td (163,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 390.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 390.32 Td (\(976,177) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 390.27 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 360.28 Td (Denominator) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 345.27 Td (W) Tj ET Q q 0 0 0 rg BT 61.54 345.27 Td (eighted average common shares outstanding � basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 345.27 Td (432,483) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 345.27 Td (390,928) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 345.27 Td (373,859) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 330.27 Td (Ef) Tj ET Q q 0 0 0 rg BT 61.85 330.27 Td (fect of potentially dilutive securities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.50 330.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.50 330.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 315.27 Td (Restricted stock, SARs and performance-based equity awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 315.27 Td (6,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 315.27 Td (2,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 315.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 300.27 Td (Convertible senior notes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 300.27 Td (17,186) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 300.27 Td (2,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 300.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 285.27 Td (W) Tj ET Q q 0 0 0 rg BT 61.14 285.27 Td (eighted average common shares outstanding � diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 285.27 Td (456,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 285.27 Td (395,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 285.27 Td (373,859) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 257.10 Td (Basic ) Tj ET Q q 0 0 0 rg BT 92.67 257.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 132.29 257.10 Td (average ) Tj ET Q q 0 0 0 rg BT 166.33 257.10 Td (common ) Tj ET Q q 0 0 0 rg BT 204.28 257.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 232.22 257.10 Td (exclude ) Tj ET Q q 0 0 0 rg BT 266.27 257.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 294.22 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 305.51 257.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 349.01 257.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 389.17 257.10 Td (stock. ) Tj ET Q q 0 0 0 rg BT 415.73 257.10 Td ( ) Tj ET Q q 0 0 0 rg BT 418.04 257.10 Td (As ) Tj ET Q q 0 0 0 rg BT 432.11 257.10 Td (these ) Tj ET Q q 0 0 0 rg BT 455.61 257.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 495.77 257.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 523.72 257.10 Td (vest, ) Tj ET Q q 0 0 0 rg BT 545.28 257.10 Td (they ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (will ) Tj ET Q q 0 0 0 rg BT 68.32 245.10 Td (be ) Tj ET Q q 0 0 0 rg BT 81.02 245.10 Td (included ) Tj ET Q q 0 0 0 rg BT 118.71 245.10 Td (in ) Tj ET Q q 0 0 0 rg BT 129.75 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.23 245.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 173.48 245.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 223.40 245.10 Td (used ) Tj ET Q q 0 0 0 rg BT 245.00 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 256.03 245.10 Td (calculate ) Tj ET Q q 0 0 0 rg BT 294.82 245.10 Td (basic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.63 245.10 Td (net ) Tj ET Q q 0 0 0 rg BT 334.11 245.10 Td (income ) Tj ET Q q 0 0 0 rg BT 366.80 245.10 Td (\(loss\) ) Tj ET Q q 0 0 0 rg BT 392.28 245.10 Td (per ) Tj ET Q q 0 0 0 rg BT 408.31 245.10 Td (common ) Tj ET Q q 0 0 0 rg BT 446.57 245.10 Td (share) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.67 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 470.93 245.10 Td (\(although ) Tj ET Q q 0 0 0 rg BT 512.51 245.10 Td (time-vesting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 88.46 233.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 111.32 233.10 Td (is ) Tj ET Q q 0 0 0 rg BT 119.74 233.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 146.49 233.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.68 233.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 211.10 233.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 232.85 233.10 Td (grant\). ) Tj ET Q q 0 0 0 rg BT 260.98 233.10 Td (�For ) Tj ET Q q 0 0 0 rg BT 279.13 233.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 316.43 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.52 233.10 Td (calculating ) Tj ET Q q 0 0 0 rg BT 372.14 233.10 Td (diluted ) Tj ET Q q 0 0 0 rg BT 401.66 233.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 440.07 233.10 Td (average ) Tj ET Q q 0 0 0 rg BT 472.91 233.10 Td (common ) Tj ET Q q 0 0 0 rg BT 509.66 233.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 536.40 233.10 Td (during ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.50 221.10 Td (year ) Tj ET Q q 0 0 0 rg BT 84.50 221.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 111.16 221.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 170.03 221.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.03 221.10 Td ( ) Tj ET Q q 0 0 0 rg BT 192.82 221.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.05 221.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.05 221.10 Td (, ) Tj ET Q q 0 0 0 rg BT 235.33 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 250.34 221.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 293.67 221.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 333.66 221.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 357.56 221.10 Td (and ) Tj ET Q q 0 0 0 rg BT 374.78 221.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 454.19 221.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 481.97 221.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 513.08 221.10 Td (are ) Tj ET Q q 0 0 0 rg BT 528.07 221.10 Td (included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.90 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.74 209.10 Td (computation ) Tj ET Q q 0 0 0 rg BT 127.35 209.10 Td (using ) Tj ET Q q 0 0 0 rg BT 151.64 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 166.48 209.10 Td (treasury ) Tj ET Q q 0 0 0 rg BT 201.31 209.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 225.04 209.10 Td (method, ) Tj ET Q q 0 0 0 rg BT 260.15 209.10 Td (with ) Tj ET Q q 0 0 0 rg BT 280.55 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 295.39 209.10 Td (deemed ) Tj ET Q q 0 0 0 rg BT 329.10 209.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 367.26 209.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 391.54 209.10 Td (to ) Tj ET Q q 0 0 0 rg BT 401.94 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.78 209.10 Td (average ) Tj ET Q q 0 0 0 rg BT 450.48 209.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 506.96 209.10 Td (compensation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (during ) Tj ET Q q 0 0 0 rg BT 78.49 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 93.59 197.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 124.51 197.10 Td (and ) Tj ET Q q 0 0 0 rg BT 141.83 197.10 Td (for ) Tj ET Q q 0 0 0 rg BT 156.38 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 171.47 197.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 199.34 197.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 245.55 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 260.65 197.10 Td (previously-outstanding ) Tj ET Q q 0 0 0 rg BT 355.74 197.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 403.60 197.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 430.92 197.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 454.91 197.10 Td (as ) Tj ET Q q 0 0 0 rg BT 466.12 197.10 Td (if ) Tj ET Q q 0 0 0 rg BT 475.11 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 490.21 197.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 538.07 197.10 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 73.30 185.10 Td (were ) Tj ET Q q 0 0 0 rg BT 95.42 185.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 137.53 185.10 Td (at ) Tj ET Q q 0 0 0 rg BT 147.44 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.35 185.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 205.03 185.10 Td (of ) Tj ET Q q 0 0 0 rg BT 216.05 185.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 230.96 185.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.96 185.10 Td ( ) Tj ET Q q 0 0 0 rg BT 253.65 185.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.78 185.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 290.78 185.10 Td ( ) Tj ET Q q 0 0 0 rg BT 293.47 185.10 Td (periods. ) Tj ET Q q 0 0 0 rg BT 328.10 185.10 Td ( ) Tj ET Q q 0 0 0 rg BT 330.79 185.10 Td (In ) Tj ET Q q 0 0 0 rg BT 341.22 185.10 Td (April ) Tj ET Q q 0 0 0 rg BT 365.01 185.10 Td (and ) Tj ET Q q 0 0 0 rg BT 382.14 185.10 Td (May ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.16 185.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.16 185.10 Td (, ) Tj ET Q q 0 0 0 rg BT 428.35 185.10 Td (all ) Tj ET Q q 0 0 0 rg BT 441.04 185.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 490.40 185.10 Td (convertible ) Tj ET Q q 0 0 0 rg BT 538.07 185.10 Td (senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 72.79 173.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 114.40 173.10 Td (into ) Tj ET Q q 0 0 0 rg BT 132.14 173.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 159.31 173.10 Td (of ) Tj ET Q q 0 0 0 rg BT 169.82 173.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 207.00 173.10 Td (common ) Tj ET Q q 0 0 0 rg BT 244.17 173.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 269.96 173.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 307.14 173.10 Td (in ) Tj ET Q q 0 0 0 rg BT 317.10 173.10 Td (the ) Tj ET Q q 0 0 0 rg BT 331.50 173.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 367.56 173.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.07 173.10 Td (55.2 ) Tj ET Q q 0 0 0 rg BT 397.76 173.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.65 173.10 Td ( ) Tj ET Q q 0 0 0 rg BT 428.83 173.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 456.00 173.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.52 173.10 Td (our ) Tj ET Q q 0 0 0 rg BT 482.03 173.10 Td (common ) Tj ET Q q 0 0 0 rg BT 519.21 173.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 542.50 173.10 Td (upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (conversion. ) Tj ET Q q 0 0 0 rg BT 98.98 161.10 Td ( ) Tj ET Q q 0 0 0 rg BT 101.86 161.10 Td (These ) Tj ET Q q 0 0 0 rg BT 128.84 161.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 156.94 161.10 Td (have ) Tj ET Q q 0 0 0 rg BT 178.92 161.10 Td (been ) Tj ET Q q 0 0 0 rg BT 200.90 161.10 Td (included ) Tj ET Q q 0 0 0 rg BT 238.44 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 249.32 161.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 272.97 161.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 312.73 161.10 Td (average ) Tj ET Q q 0 0 0 rg BT 346.92 161.10 Td (common ) Tj ET Q q 0 0 0 rg BT 385.02 161.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 413.12 161.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 462.88 161.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 505.98 161.10 Td (on ) Tj ET Q q 0 0 0 rg BT 519.09 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 534.41 161.10 Td (date ) Tj ET Q q 0 0 0 rg BT 554.17 161.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (conversion. ) Tj ET Q q 0 0 0 rg BT 98.38 149.10 Td ( ) Tj ET Q q 0 0 0 rg BT 100.88 149.10 Td (See ) Tj ET Q q 0 0 0 rg BT 117.82 149.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 139.75 149.10 Td (6, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 149.75 149.10 Td (Long-T) Tj ET Q q 0 0 0 rg BT 178.29 149.10 Td (erm ) Tj ET Q q 0 0 0 rg BT 196.34 149.10 Td (Debt) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.78 149.10 Td (, ) Tj ET Q q 0 0 0 rg BT 220.78 149.10 Td (for ) Tj ET Q q 0 0 0 rg BT 234.94 149.10 Td (further ) Tj ET Q q 0 0 0 rg BT 264.65 149.10 Td (discussion. ) Tj ET Q endstream endobj 153 0 obj <> endobj 154 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.42 713.10 Td (following ) Tj ET Q q 0 0 0 rg BT 126.67 713.10 Td (securities ) Tj ET Q q 0 0 0 rg BT 166.81 713.10 Td (could ) Tj ET Q q 0 0 0 rg BT 191.39 713.10 Td (potentially ) Tj ET Q q 0 0 0 rg BT 236.53 713.10 Td (dilute ) Tj ET Q q 0 0 0 rg BT 261.67 713.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 297.92 713.10 Td (per ) Tj ET Q q 0 0 0 rg BT 313.06 713.10 Td (share ) Tj ET Q q 0 0 0 rg BT 336.53 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 346.67 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 361.26 713.10 Td (future, ) Tj ET Q q 0 0 0 rg BT 390.01 713.10 Td (but ) Tj ET Q q 0 0 0 rg BT 405.16 713.10 Td (were ) Tj ET Q q 0 0 0 rg BT 426.95 713.10 Td (excluded ) Tj ET Q q 0 0 0 rg BT 465.42 713.10 Td (from ) Tj ET Q q 0 0 0 rg BT 487.23 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 501.81 713.10 Td (computation ) Tj ET Q q 0 0 0 rg BT 554.17 713.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (diluted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.77 701.10 Td (net ) Tj ET Q q 0 0 0 rg BT 94.49 701.10 Td (income ) Tj ET Q q 0 0 0 rg BT 126.42 701.10 Td (\(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.65 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 151.15 701.10 Td (per ) Tj ET Q q 0 0 0 rg BT 166.41 701.10 Td (share, ) Tj ET Q q 0 0 0 rg BT 192.51 701.10 Td (as ) Tj ET Q q 0 0 0 rg BT 203.34 701.10 Td (their ) Tj ET Q q 0 0 0 rg BT 224.17 701.10 Td (ef) Tj ET Q q 0 0 0 rg BT 231.76 701.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 249.24 701.10 Td (would ) Tj ET Q q 0 0 0 rg BT 276.74 701.10 Td (have ) Tj ET Q q 0 0 0 rg BT 298.12 701.10 Td (been ) Tj ET Q q 0 0 0 rg BT 319.50 701.10 Td (antidilutive:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 664.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 664.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 664.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 664.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 664.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 664.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 664.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 677.6 m 425 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 677.6 m 429 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 677.6 m 494 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 677.6 m 498 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 677.6 m 563 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 664.6 m 356 664.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 677.6 m 425 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 664.6 m 425 664.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 677.6 m 429 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 677.6 m 494 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 664.6 m 494 664.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 677.6 m 498 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 677.6 m 563 677.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 664.6 m 563 664.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 664.6 m 425 664.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 664.6 m 494 664.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 664.6 m 563 664.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 681.17 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 681.17 Td (Y) Tj ET Q q 0 0 0 rg BT 415.17 681.17 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 668.16 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 668.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 668.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 668.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 654.27 Td (SARs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 654.27 Td (2,743) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 654.27 Td (4,512) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 654.27 Td (6,427) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 639.27 Td (Restricted stock and performance-based equity awards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 639.27 Td (1,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 639.27 Td (5,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 639.27 Td (5,816) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 611.10 Td (Envir) Tj ET Q q 0 0 0 rg BT 73.77 611.10 Td (onmental ) Tj ET Q q 0 0 0 rg BT 116.27 611.10 Td (and ) Tj ET Q q 0 0 0 rg BT 134.89 611.10 Td (Litigation ) Tj ET Q q 0 0 0 rg BT 179.62 611.10 Td (Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 587.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.87 587.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 127.59 587.10 Td (makes ) Tj ET Q q 0 0 0 rg BT 155.96 587.10 Td (judgments ) Tj ET Q q 0 0 0 rg BT 200.45 587.10 Td (and ) Tj ET Q q 0 0 0 rg BT 217.72 587.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 257.76 587.10 Td (in ) Tj ET Q q 0 0 0 rg BT 268.36 587.10 Td (recording ) Tj ET Q q 0 0 0 rg BT 309.51 587.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 349.55 587.10 Td (for ) Tj ET Q q 0 0 0 rg BT 364.04 587.10 Td (contingencies ) Tj ET Q q 0 0 0 rg BT 421.85 587.10 Td (such ) Tj ET Q q 0 0 0 rg BT 443.00 587.10 Td (as ) Tj ET Q q 0 0 0 rg BT 454.16 587.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 514.75 587.10 Td (remediation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 575.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.57 575.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 96.09 575.10 Td (litigation.� ) Tj ET Q q 0 0 0 rg BT 139.94 575.10 Td (Liabilities ) Tj ET Q q 0 0 0 rg BT 183.23 575.10 Td (are ) Tj ET Q q 0 0 0 rg BT 198.18 575.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 235.90 575.10 Td (when ) Tj ET Q q 0 0 0 rg BT 260.30 575.10 Td (it ) Tj ET Q q 0 0 0 rg BT 268.60 575.10 Td (is ) Tj ET Q q 0 0 0 rg BT 278.01 575.10 Td (both ) Tj ET Q q 0 0 0 rg BT 298.53 575.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 336.26 575.10 Td (that ) Tj ET Q q 0 0 0 rg BT 353.99 575.10 Td (a ) Tj ET Q q 0 0 0 rg BT 361.17 575.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 379.48 575.10 Td (has ) Tj ET Q q 0 0 0 rg BT 395.55 575.10 Td (been ) Tj ET Q q 0 0 0 rg BT 417.17 575.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 453.22 575.10 Td (and ) Tj ET Q q 0 0 0 rg BT 470.40 575.10 Td (such ) Tj ET Q q 0 0 0 rg BT 491.48 575.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 509.78 575.10 Td (is ) Tj ET Q q 0 0 0 rg BT 519.19 575.10 Td (reasonably ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 563.10 Td (estimable.� ) Tj ET Q q 0 0 0 rg BT 94.88 563.10 Td (Assessments ) Tj ET Q q 0 0 0 rg BT 148.63 563.10 Td (of ) Tj ET Q q 0 0 0 rg BT 159.59 563.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 199.45 563.10 Td (are ) Tj ET Q q 0 0 0 rg BT 214.29 563.10 Td (based ) Tj ET Q q 0 0 0 rg BT 239.69 563.10 Td (on ) Tj ET Q q 0 0 0 rg BT 252.33 563.10 Td (information ) Tj ET Q q 0 0 0 rg BT 302.18 563.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 339.25 563.10 Td (from ) Tj ET Q q 0 0 0 rg BT 361.33 563.10 Td (independent ) Tj ET Q q 0 0 0 rg BT 412.83 563.10 Td (and ) Tj ET Q q 0 0 0 rg BT 429.91 563.10 Td (in-house ) Tj ET Q q 0 0 0 rg BT 466.98 563.10 Td (experts, ) Tj ET Q q 0 0 0 rg BT 501.00 563.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 519.20 563.10 Td (experience ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 551.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.52 551.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 89.54 551.10 Td (situations, ) Tj ET Q q 0 0 0 rg BT 132.62 551.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 158.74 551.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 180.98 551.10 Td (incurred, ) Tj ET Q q 0 0 0 rg BT 219.04 551.10 Td (and ) Tj ET Q q 0 0 0 rg BT 235.73 551.10 Td (other ) Tj ET Q q 0 0 0 rg BT 258.52 551.10 Td (case-by-case ) Tj ET Q q 0 0 0 rg BT 311.84 551.10 Td (factors.� ) Tj ET Q q 0 0 0 rg BT 345.80 551.10 Td (Any ) Tj ET Q q 0 0 0 rg BT 365.26 551.10 Td (related ) Tj ET Q q 0 0 0 rg BT 394.71 551.10 Td (insurance ) Tj ET Q q 0 0 0 rg BT 435.27 551.10 Td (recoveries ) Tj ET Q q 0 0 0 rg BT 478.60 551.10 Td (are ) Tj ET Q q 0 0 0 rg BT 493.05 551.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 539.16 551.10 Td (in ) Tj ET Q q 0 0 0 rg BT 549.18 551.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 539.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 86.98 539.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 131.69 539.10 Td (during ) Tj ET Q q 0 0 0 rg BT 160.30 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 175.02 539.10 Td (period ) Tj ET Q q 0 0 0 rg BT 203.06 539.10 Td (received ) Tj ET Q q 0 0 0 rg BT 239.43 539.10 Td (or ) Tj ET Q q 0 0 0 rg BT 250.26 539.10 Td (at ) Tj ET Q q 0 0 0 rg BT 259.97 539.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.69 539.10 Td (time ) Tj ET Q q 0 0 0 rg BT 294.96 539.10 Td (receipt ) Tj ET Q q 0 0 0 rg BT 324.67 539.10 Td (is ) Tj ET Q q 0 0 0 rg BT 333.84 539.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 381.32 539.10 Td (to ) Tj ET Q q 0 0 0 rg BT 391.59 539.10 Td (be ) Tj ET Q q 0 0 0 rg BT 403.53 539.10 Td (virtually ) Tj ET Q q 0 0 0 rg BT 439.92 539.10 Td (certain.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 515.10 Td (Recent ) Tj ET Q q 0 0 0 rg BT 80.88 515.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 132.27 515.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 142.63 515.10 Td (onouncements) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 491.10 Td (Recently ) Tj ET Q q 0 0 0 rg BT 86.24 491.10 Td (Adopted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 467.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 91.52 467.10 Td (Flows. ) Tj ET Q q 0 0 0 rg BT 121.37 467.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.71 467.10 Td (In ) Tj ET Q q 0 0 0 rg BT 134.39 467.10 Td (November ) Tj ET Q q 0 0 0 rg BT 178.94 467.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 203.79 467.10 Td (the ) Tj ET Q q 0 0 0 rg BT 218.35 467.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 257.39 467.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 306.39 467.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 348.18 467.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 374.96 467.10 Td (\(�F) Tj ET Q q 0 0 0 rg BT 386.44 467.10 Td (ASB�\) ) Tj ET Q q 0 0 0 rg BT 416.01 467.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 442.84 467.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 491.84 467.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 533.63 467.10 Td (Update ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 455.10 Td (\(�ASU�\) ) Tj ET Q q 0 0 0 rg BT 86.34 455.10 Td (2016-18, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 123.47 455.10 Td (Statement ) Tj ET Q q 0 0 0 rg BT 164.20 455.10 Td (of ) Tj ET Q q 0 0 0 rg BT 173.28 455.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 195.14 455.10 Td (Flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.59 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 220.89 455.10 Td (\(�ASU ) Tj ET Q q 0 0 0 rg BT 249.96 455.10 Td (2016-18�\). ) Tj ET Q q 0 0 0 rg BT 294.86 455.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.87 455.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 317.17 455.10 Td (2016-18 ) Tj ET Q q 0 0 0 rg BT 351.80 455.10 Td (addresses ) Tj ET Q q 0 0 0 rg BT 391.42 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 404.94 455.10 Td (diversity ) Tj ET Q q 0 0 0 rg BT 441.23 455.10 Td (that ) Tj ET Q q 0 0 0 rg BT 457.52 455.10 Td (existed ) Tj ET Q q 0 0 0 rg BT 487.15 455.10 Td (in ) Tj ET Q q 0 0 0 rg BT 496.23 455.10 Td (the ) Tj ET Q q 0 0 0 rg BT 509.74 455.10 Td (classification ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 443.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.46 443.10 Td (presentation ) Tj ET Q q 0 0 0 rg BT 117.85 443.10 Td (of ) Tj ET Q q 0 0 0 rg BT 128.70 443.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 163.43 443.10 Td (in ) Tj ET Q q 0 0 0 rg BT 173.72 443.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 213.45 443.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 233.73 443.10 Td (on ) Tj ET Q q 0 0 0 rg BT 246.25 443.10 Td (the ) Tj ET Q q 0 0 0 rg BT 260.99 443.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 301.83 443.10 Td (of ) Tj ET Q q 0 0 0 rg BT 312.68 443.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 332.97 443.10 Td (flows, ) Tj ET Q q 0 0 0 rg BT 360.21 443.10 Td (and ) Tj ET Q q 0 0 0 rg BT 377.17 443.10 Td (requires ) Tj ET Q q 0 0 0 rg BT 411.89 443.10 Td (that ) Tj ET Q q 0 0 0 rg BT 429.41 443.10 Td (a ) Tj ET Q q 0 0 0 rg BT 436.37 443.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 477.21 443.10 Td (of ) Tj ET Q q 0 0 0 rg BT 488.05 443.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 508.34 443.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 533.08 443.10 Td (explain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 431.10 Td (the ) Tj ET Q q 0 0 0 rg BT 65.39 431.10 Td (change ) Tj ET Q q 0 0 0 rg BT 97.37 431.10 Td (in ) Tj ET Q q 0 0 0 rg BT 108.82 431.10 Td (total ) Tj ET Q q 0 0 0 rg BT 130.26 431.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 154.19 431.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 175.63 431.10 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 227.34 431.10 Td (and ) Tj ET Q q 0 0 0 rg BT 245.45 431.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 283.00 431.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 323.88 431.10 Td (described ) Tj ET Q q 0 0 0 rg BT 365.86 431.10 Td (as ) Tj ET Q q 0 0 0 rg BT 377.86 431.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 418.73 431.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 440.17 431.10 Td (or ) Tj ET Q q 0 0 0 rg BT 452.16 431.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 493.03 431.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 514.47 431.10 Td (equivalents. ) Tj ET Q q 0 0 0 rg BT 565.01 431.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 419.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 94.95 419.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 127.37 419.10 Td (will ) Tj ET Q q 0 0 0 rg BT 146.47 419.10 Td (no ) Tj ET Q q 0 0 0 rg BT 160.00 419.10 Td (longer ) Tj ET Q q 0 0 0 rg BT 189.09 419.10 Td (present ) Tj ET Q q 0 0 0 rg BT 221.50 419.10 Td (transfers ) Tj ET Q q 0 0 0 rg BT 259.47 419.10 Td (between ) Tj ET Q q 0 0 0 rg BT 296.32 419.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 317.63 419.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.60 419.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 356.91 419.10 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 405.99 419.10 Td (and ) Tj ET Q q 0 0 0 rg BT 423.97 419.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 464.71 419.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 486.01 419.10 Td (and ) Tj ET Q q 0 0 0 rg BT 503.99 419.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 544.73 419.10 Td (cash ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 407.10 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 96.79 407.10 Td (in ) Tj ET Q q 0 0 0 rg BT 106.31 407.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.27 407.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 160.34 407.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.42 407.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 189.93 407.10 Td (flows. ) Tj ET Q q 0 0 0 rg BT 216.40 407.10 Td ( ) Tj ET Q q 0 0 0 rg BT 218.14 407.10 Td (Ef) Tj ET Q q 0 0 0 rg BT 227.40 407.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 256.35 407.10 Td (January ) Tj ET Q q 0 0 0 rg BT 289.19 407.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 298.44 407.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 322.68 407.10 Td (we ) Tj ET Q q 0 0 0 rg BT 336.09 407.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 369.10 407.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 390.86 407.10 Td (2016-18, ) Tj ET Q q 0 0 0 rg BT 428.43 407.10 Td (which ) Tj ET Q q 0 0 0 rg BT 454.62 407.10 Td (was ) Tj ET Q q 0 0 0 rg BT 471.91 407.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 503.09 407.10 Td (retrospectively ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 395.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.00 395.10 Td (all ) Tj ET Q q 0 0 0 rg BT 74.83 395.10 Td (comparative ) Tj ET Q q 0 0 0 rg BT 126.09 395.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 157.37 395.10 Td (presented. ) Tj ET Q q 0 0 0 rg BT 200.03 395.10 Td ( ) Tj ET Q q 0 0 0 rg BT 201.46 395.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 250.80 395.10 Td (, ) Tj ET Q q 0 0 0 rg BT 255.14 395.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 294.18 395.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 313.79 395.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 356.72 395.10 Td (with ) Tj ET Q q 0 0 0 rg BT 376.34 395.10 Td (our ) Tj ET Q q 0 0 0 rg BT 391.51 395.10 Td (escrow ) Tj ET Q q 0 0 0 rg BT 421.67 395.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 458.49 395.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.66 395.10 Td ($15.9 ) Tj ET Q q 0 0 0 rg BT 493.00 395.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.90 395.10 Td ( ) Tj ET Q q 0 0 0 rg BT 523.74 395.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.01 395.10 Td ($15.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 383.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 383.10 Td ( ) Tj ET Q q 0 0 0 rg BT 79.93 383.10 Td (for ) Tj ET Q q 0 0 0 rg BT 93.13 383.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.89 383.10 Td (years ) Tj ET Q q 0 0 0 rg BT 129.53 383.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.95 383.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 212.57 383.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.57 383.10 Td ( ) Tj ET Q q 0 0 0 rg BT 234.11 383.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.09 383.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 270.09 383.10 Td (, ) Tj ET Q q 0 0 0 rg BT 274.13 383.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 321.79 383.10 Td (, ) Tj ET Q q 0 0 0 rg BT 325.83 383.10 Td (have ) Tj ET Q q 0 0 0 rg BT 346.25 383.10 Td (been ) Tj ET Q q 0 0 0 rg BT 366.67 383.10 Td (included ) Tj ET Q q 0 0 0 rg BT 402.64 383.10 Td (in ) Tj ET Q q 0 0 0 rg BT 411.96 383.10 Td (�Cash, ) Tj ET Q q 0 0 0 rg BT 440.44 383.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 459.75 383.10 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 509.33 383.10 Td (and ) Tj ET Q q 0 0 0 rg BT 525.31 383.10 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 371.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 69.08 371.10 Td (at ) Tj ET Q q 0 0 0 rg BT 78.10 371.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 119.90 371.10 Td (of ) Tj ET Q q 0 0 0 rg BT 130.04 371.10 Td (period� ) Tj ET Q q 0 0 0 rg BT 161.83 371.10 Td (on ) Tj ET Q q 0 0 0 rg BT 173.64 371.10 Td (our ) Tj ET Q q 0 0 0 rg BT 188.77 371.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 243.35 371.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 289.04 371.10 Td (of ) Tj ET Q q 0 0 0 rg BT 299.18 371.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 320.98 371.10 Td (Flows ) Tj ET Q q 0 0 0 rg BT 347.24 371.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 363.49 371.10 Td ($15.9 ) Tj ET Q q 0 0 0 rg BT 387.80 371.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.69 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 418.49 371.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 434.74 371.10 Td ($15.4 ) Tj ET Q q 0 0 0 rg BT 459.05 371.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.94 371.10 Td ( ) Tj ET Q q 0 0 0 rg BT 489.74 371.10 Td (included ) Tj ET Q q 0 0 0 rg BT 525.98 371.10 Td (in ) Tj ET Q q 0 0 0 rg BT 535.57 371.10 Td (�Cash, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 359.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 70.02 359.10 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 120.82 359.10 Td (and ) Tj ET Q q 0 0 0 rg BT 138.02 359.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 177.98 359.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 198.50 359.10 Td (at ) Tj ET Q q 0 0 0 rg BT 208.47 359.10 Td (end ) Tj ET Q q 0 0 0 rg BT 225.67 359.10 Td (of ) Tj ET Q q 0 0 0 rg BT 236.76 359.10 Td (period� ) Tj ET Q q 0 0 0 rg BT 269.50 359.10 Td (for ) Tj ET Q q 0 0 0 rg BT 283.91 359.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.89 359.10 Td (years ) Tj ET Q q 0 0 0 rg BT 322.74 359.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.38 359.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 408.22 359.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.22 359.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.97 359.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.17 359.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.17 359.10 Td (. ) Tj ET Q q 0 0 0 rg BT 473.42 359.10 Td ( ) Tj ET Q q 0 0 0 rg BT 475.98 359.10 Td (The ) Tj ET Q q 0 0 0 rg BT 494.28 359.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 532.04 359.10 Td (of ) Tj ET Q q 0 0 0 rg BT 542.51 359.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 347.10 Td (2016-18 ) Tj ET Q q 0 0 0 rg BT 85.33 347.10 Td (did ) Tj ET Q q 0 0 0 rg BT 100.61 347.10 Td (not ) Tj ET Q q 0 0 0 rg BT 115.89 347.10 Td (have ) Tj ET Q q 0 0 0 rg BT 137.26 347.10 Td (an ) Tj ET Q q 0 0 0 rg BT 149.20 347.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 178.91 347.10 Td (on ) Tj ET Q q 0 0 0 rg BT 191.41 347.10 Td (our ) Tj ET Q q 0 0 0 rg BT 207.24 347.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 260.29 347.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 293.32 347.10 Td (sheets ) Tj ET Q q 0 0 0 rg BT 320.26 347.10 Td (or ) Tj ET Q q 0 0 0 rg BT 331.09 347.10 Td (results ) Tj ET Q q 0 0 0 rg BT 359.70 347.10 Td (of ) Tj ET Q q 0 0 0 rg BT 370.53 347.10 Td (operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 323.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 108.13 323.10 Td (Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.24 323.10 Td (. ) Tj ET Q q 0 0 0 rg BT 165.70 323.10 Td (In ) Tj ET Q q 0 0 0 rg BT 178.00 323.10 Td (May ) Tj ET Q q 0 0 0 rg BT 200.30 323.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 226.77 323.10 Td (the ) Tj ET Q q 0 0 0 rg BT 242.95 323.10 Td (F) Tj ET Q q 0 0 0 rg BT 247.77 323.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 271.19 323.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 299.28 323.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 323.25 323.10 Td (2014-09, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 363.05 323.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 400.88 323.10 Td (fr) Tj ET Q q 0 0 0 rg BT 407.18 323.10 Td (om ) Tj ET Q q 0 0 0 rg BT 423.37 323.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 466.78 323.10 Td (with ) Tj ET Q q 0 0 0 rg BT 487.98 323.10 Td (Customers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 534.73 323.10 Td (\(�ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.10 Td (2014-09�\). ) Tj ET Q q 0 0 0 rg BT 95.16 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 96.76 311.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 118.82 311.10 Td (2014-09 ) Tj ET Q q 0 0 0 rg BT 154.21 311.10 Td (amends ) Tj ET Q q 0 0 0 rg BT 186.82 311.10 Td (the ) Tj ET Q q 0 0 0 rg BT 201.09 311.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 239.24 311.10 Td (for ) Tj ET Q q 0 0 0 rg BT 252.96 311.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 286.67 311.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 334.27 311.10 Td (to ) Tj ET Q q 0 0 0 rg BT 344.10 311.10 Td (replace ) Tj ET Q q 0 0 0 rg BT 375.02 311.10 Td (numerous, ) Tj ET Q q 0 0 0 rg BT 419.02 311.10 Td (industry-specific ) Tj ET Q q 0 0 0 rg BT 488.28 311.10 Td (requirements. ) Tj ET Q q 0 0 0 rg BT 545.04 311.10 Td ( ) Tj ET Q q 0 0 0 rg BT 546.95 311.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (core ) Tj ET Q q 0 0 0 rg BT 69.11 299.10 Td (principle ) Tj ET Q q 0 0 0 rg BT 107.06 299.10 Td (of ) Tj ET Q q 0 0 0 rg BT 117.80 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.89 299.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 154.31 299.10 Td (is ) Tj ET Q q 0 0 0 rg BT 163.38 299.10 Td (that ) Tj ET Q q 0 0 0 rg BT 180.79 299.10 Td (an ) Tj ET Q q 0 0 0 rg BT 192.63 299.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 217.81 299.10 Td (should ) Tj ET Q q 0 0 0 rg BT 246.89 299.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 288.16 299.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 322.21 299.10 Td (for ) Tj ET Q q 0 0 0 rg BT 336.28 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 350.90 299.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 383.85 299.10 Td (of ) Tj ET Q q 0 0 0 rg BT 394.58 299.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 420.88 299.10 Td (or ) Tj ET Q q 0 0 0 rg BT 431.62 299.10 Td (services ) Tj ET Q q 0 0 0 rg BT 466.23 299.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 490.30 299.10 Td (to ) Tj ET Q q 0 0 0 rg BT 500.48 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 515.11 299.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 547.51 299.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 287.10 Td (it ) Tj ET Q q 0 0 0 rg BT 58.19 287.10 Td (expects ) Tj ET Q q 0 0 0 rg BT 91.31 287.10 Td (to ) Tj ET Q q 0 0 0 rg BT 102.22 287.10 Td (be ) Tj ET Q q 0 0 0 rg BT 114.80 287.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 147.92 287.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.84 287.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 190.83 287.10 Td (for ) Tj ET Q q 0 0 0 rg BT 205.63 287.10 Td (those ) Tj ET Q q 0 0 0 rg BT 229.87 287.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 256.90 287.10 Td (or ) Tj ET Q q 0 0 0 rg BT 268.36 287.10 Td (services. ) Tj ET Q q 0 0 0 rg BT 305.98 287.10 Td (The ) Tj ET Q q 0 0 0 rg BT 323.97 287.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 347.11 287.10 Td (implements ) Tj ET Q q 0 0 0 rg BT 396.90 287.10 Td (a ) Tj ET Q q 0 0 0 rg BT 404.48 287.10 Td (five-step ) Tj ET Q q 0 0 0 rg BT 442.60 287.10 Td (process ) Tj ET Q q 0 0 0 rg BT 475.72 287.10 Td (for ) Tj ET Q q 0 0 0 rg BT 490.52 287.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 530.31 287.10 Td (contract ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 275.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 83.72 275.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 131.84 275.10 Td (that ) Tj ET Q q 0 0 0 rg BT 149.41 275.10 Td (focuses ) Tj ET Q q 0 0 0 rg BT 181.97 275.10 Td (on ) Tj ET Q q 0 0 0 rg BT 194.55 275.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 227.66 275.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.56 275.10 Td (control, ) Tj ET Q q 0 0 0 rg BT 271.96 275.10 Td (as ) Tj ET Q q 0 0 0 rg BT 282.87 275.10 Td (opposed ) Tj ET Q q 0 0 0 rg BT 318.77 275.10 Td (to ) Tj ET Q q 0 0 0 rg BT 329.13 275.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 362.24 275.10 Td (of ) Tj ET Q q 0 0 0 rg BT 373.14 275.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 390.72 275.10 Td (and ) Tj ET Q q 0 0 0 rg BT 407.73 275.10 Td (rewards. ) Tj ET Q q 0 0 0 rg BT 444.27 275.10 Td (The ) Tj ET Q q 0 0 0 rg BT 462.39 275.10 Td (amendment ) Tj ET Q q 0 0 0 rg BT 511.62 275.10 Td (also ) Tj ET Q q 0 0 0 rg BT 530.30 275.10 Td (requires ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 263.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 89.37 263.10 Td (disclosures ) Tj ET Q q 0 0 0 rg BT 135.92 263.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 176.35 263.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.68 263.10 Td (nature, ) Tj ET Q q 0 0 0 rg BT 220.28 263.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 254.89 263.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 283.12 263.10 Td (and ) Tj ET Q q 0 0 0 rg BT 299.67 263.10 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 346.77 263.10 Td (of ) Tj ET Q q 0 0 0 rg BT 357.21 263.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 394.86 263.10 Td (and ) Tj ET Q q 0 0 0 rg BT 411.41 263.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 431.30 263.10 Td (flows ) Tj ET Q q 0 0 0 rg BT 455.63 263.10 Td (arising ) Tj ET Q q 0 0 0 rg BT 484.96 263.10 Td (from ) Tj ET Q q 0 0 0 rg BT 506.52 263.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 544.72 263.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 251.10 Td (customers. ) Tj ET Q q 0 0 0 rg BT 95.09 251.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.63 251.10 Td (In ) Tj ET Q q 0 0 0 rg BT 108.51 251.10 Td (March, ) Tj ET Q q 0 0 0 rg BT 139.09 251.10 Td (April ) Tj ET Q q 0 0 0 rg BT 162.74 251.10 Td (and ) Tj ET Q q 0 0 0 rg BT 179.72 251.10 Td (May ) Tj ET Q q 0 0 0 rg BT 200.60 251.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 225.64 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.40 251.10 Td (F) Tj ET Q q 0 0 0 rg BT 245.22 251.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 267.22 251.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 294.76 251.10 Td (four ) Tj ET Q q 0 0 0 rg BT 313.97 251.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 355.94 251.10 Td (ASUs ) Tj ET Q q 0 0 0 rg BT 382.38 251.10 Td (which ) Tj ET Q q 0 0 0 rg BT 409.36 251.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 449.12 251.10 Td (clarified ) Tj ET Q q 0 0 0 rg BT 484.97 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 499.73 251.10 Td (implementation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 87.47 239.10 Td (on ) Tj ET Q q 0 0 0 rg BT 99.35 239.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 136.78 239.10 Td (versus ) Tj ET Q q 0 0 0 rg BT 164.21 239.10 Td (agent ) Tj ET Q q 0 0 0 rg BT 187.74 239.10 Td (considerations, ) Tj ET Q q 0 0 0 rg BT 249.89 239.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 302.29 239.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 348.61 239.10 Td (and ) Tj ET Q q 0 0 0 rg BT 364.93 239.10 Td (licensing, ) Tj ET Q q 0 0 0 rg BT 405.41 239.10 Td (collectibility) Tj ET Q q 0 0 0 rg BT 455.31 239.10 Td (, ) Tj ET Q q 0 0 0 rg BT 459.69 239.10 Td (presentation ) Tj ET Q q 0 0 0 rg BT 510.44 239.10 Td (of ) Tj ET Q q 0 0 0 rg BT 520.65 239.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 541.97 239.10 Td (taxes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 227.10 Td (and ) Tj ET Q q 0 0 0 rg BT 65.63 227.10 Td (other ) Tj ET Q q 0 0 0 rg BT 87.86 227.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 117.32 227.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 139.56 227.10 Td (collected ) Tj ET Q q 0 0 0 rg BT 177.34 227.10 Td (from ) Tj ET Q q 0 0 0 rg BT 198.46 227.10 Td (customers, ) Tj ET Q q 0 0 0 rg BT 243.20 227.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.33 227.10 Td (non-cash ) Tj ET Q q 0 0 0 rg BT 297.11 227.10 Td (consideration. ) Tj ET Q q 0 0 0 rg BT 355.17 227.10 Td ( ) Tj ET Q q 0 0 0 rg BT 356.86 227.10 Td (Ef) Tj ET Q q 0 0 0 rg BT 366.12 227.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 395.01 227.10 Td (January ) Tj ET Q q 0 0 0 rg BT 427.80 227.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 436.99 227.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 461.17 227.10 Td (we ) Tj ET Q q 0 0 0 rg BT 474.52 227.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 507.49 227.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 529.19 227.10 Td (2014-09 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 215.10 Td (using ) Tj ET Q q 0 0 0 rg BT 74.37 215.10 Td (the ) Tj ET Q q 0 0 0 rg BT 89.80 215.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 129.10 215.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 183.95 215.10 Td (method. ) Tj ET Q q 0 0 0 rg BT 219.42 215.10 Td (The ) Tj ET Q q 0 0 0 rg BT 238.17 215.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 276.37 215.10 Td (of ) Tj ET Q q 0 0 0 rg BT 287.20 215.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 310.40 215.10 Td (2014-09 ) Tj ET Q q 0 0 0 rg BT 346.94 215.10 Td (did ) Tj ET Q q 0 0 0 rg BT 362.92 215.10 Td (not ) Tj ET Q q 0 0 0 rg BT 378.91 215.10 Td (have ) Tj ET Q q 0 0 0 rg BT 400.99 215.10 Td (an ) Tj ET Q q 0 0 0 rg BT 413.63 215.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 444.05 215.10 Td (on ) Tj ET Q q 0 0 0 rg BT 457.25 215.10 Td (our ) Tj ET Q q 0 0 0 rg BT 473.79 215.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 527.53 215.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 203.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 94.21 203.10 Td (but ) Tj ET Q q 0 0 0 rg BT 109.49 203.10 Td (required ) Tj ET Q q 0 0 0 rg BT 145.31 203.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 185.56 203.10 Td (footnote ) Tj ET Q q 0 0 0 rg BT 221.38 203.10 Td (disclosures. ) Tj ET Q q 0 0 0 rg BT 270.82 203.10 Td (See�Note ) Tj ET Q q 0 0 0 rg BT 309.70 203.10 Td (2,�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 319.70 203.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 356.06 203.10 Td (Recognition) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.38 203.10 Td (, ) Tj ET Q q 0 0 0 rg BT 409.38 203.10 Td (for ) Tj ET Q q 0 0 0 rg BT 423.54 203.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 466.03 203.10 Td (information.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 179.10 Td (Not ) Tj ET Q q 0 0 0 rg BT 66.45 179.10 Td (Y) Tj ET Q q 0 0 0 rg BT 71.09 179.10 Td (et ) Tj ET Q q 0 0 0 rg BT 80.63 179.10 Td (Adopted) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 155.10 Td (Fair) Tj ET Q q 0 0 0 rg BT 85.64 155.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.04 155.10 Td (V) Tj ET Q q 0 0 0 rg BT 93.34 155.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 112.62 155.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 145.21 155.10 Td (ement.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.81 155.10 Td (� ) Tj ET Q q 0 0 0 rg BT 177.81 155.10 Td (In ) Tj ET Q q 0 0 0 rg BT 187.31 155.10 Td (August ) Tj ET Q q 0 0 0 rg BT 217.70 155.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 241.70 155.10 Td (the ) Tj ET Q q 0 0 0 rg BT 255.42 155.10 Td (F) Tj ET Q q 0 0 0 rg BT 260.24 155.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 281.20 155.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 307.37 155.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 328.87 155.10 Td (2018-13,�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 367.20 155.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 386.48 155.10 Td (V) Tj ET Q q 0 0 0 rg BT 391.48 155.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 410.20 155.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 440.38 155.10 Td (ement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.26 155.10 Td ( ) Tj ET Q q 0 0 0 rg BT 465.76 155.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 474.50 155.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 493.22 155.10 Td (820\) ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 513.05 155.10 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.05 155.10 Td ( ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 519.55 155.10 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 558.07 155.10 Td (e ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 143.10 Td (Framework ) Tj ET Q q 0 0 0 rg BT 99.69 143.10 Td (� ) Tj ET Q q 0 0 0 rg BT 108.22 143.10 Td (Changes ) Tj ET Q q 0 0 0 rg BT 146.75 143.10 Td (to ) Tj ET Q q 0 0 0 rg BT 158.06 143.10 Td (the ) Tj ET Q q 0 0 0 rg BT 173.80 143.10 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 212.32 143.10 Td (e ) Tj ET Q q 0 0 0 rg BT 220.29 143.10 Td (Requir) Tj ET Q q 0 0 0 rg BT 247.14 143.10 Td (ements ) Tj ET Q q 0 0 0 rg BT 278.43 143.10 Td (for ) Tj ET Q q 0 0 0 rg BT 293.63 143.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 314.94 143.10 Td (V) Tj ET Q q 0 0 0 rg BT 319.94 143.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 340.69 143.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 370.87 143.10 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.64 143.10 Td (�\(�ASU ) Tj ET Q q 0 0 0 rg BT 432.44 143.10 Td (2018-13�\).� ) Tj ET Q q 0 0 0 rg BT 481.29 143.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 504.82 143.10 Td (2018-13 ) Tj ET Q q 0 0 0 rg BT 541.68 143.10 Td (adds, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 131.10 Td (modifies, ) Tj ET Q q 0 0 0 rg BT 88.89 131.10 Td (or ) Tj ET Q q 0 0 0 rg BT 99.11 131.10 Td (removes ) Tj ET Q q 0 0 0 rg BT 134.88 131.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 163.98 131.10 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 206.42 131.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 260.51 131.10 Td (for ) Tj ET Q q 0 0 0 rg BT 274.07 131.10 Td (recurring ) Tj ET Q q 0 0 0 rg BT 312.61 131.10 Td (and ) Tj ET Q q 0 0 0 rg BT 328.94 131.10 Td (nonrecurring ) Tj ET Q q 0 0 0 rg BT 382.48 131.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 398.25 131.10 Td (value ) Tj ET Q q 0 0 0 rg BT 421.80 131.10 Td (measurements ) Tj ET Q q 0 0 0 rg BT 480.89 131.10 Td (based ) Tj ET Q q 0 0 0 rg BT 505.56 131.10 Td (on ) Tj ET Q q 0 0 0 rg BT 517.45 131.10 Td (the ) Tj ET Q q 0 0 0 rg BT 531.56 131.10 Td (F) Tj ET Q q 0 0 0 rg BT 536.38 131.10 Td (ASB�) Tj ET Q q 0 0 0 rg BT 558.61 131.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 119.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 105.30 119.10 Td (of ) Tj ET Q q 0 0 0 rg BT 115.57 119.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 137.50 119.10 Td (and ) Tj ET Q q 0 0 0 rg BT 153.87 119.10 Td (benefits. ) Tj ET Q q 0 0 0 rg BT 189.96 119.10 Td ( ) Tj ET Q q 0 0 0 rg BT 191.75 119.10 Td (The ) Tj ET Q q 0 0 0 rg BT 209.23 119.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 261.71 119.10 Td (in ) Tj ET Q q 0 0 0 rg BT 271.42 119.10 Td (this ) Tj ET Q q 0 0 0 rg BT 287.37 119.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 309.31 119.10 Td (are ) Tj ET Q q 0 0 0 rg BT 323.45 119.10 Td (ef) Tj ET Q q 0 0 0 rg BT 331.04 119.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 360.17 119.10 Td (for ) Tj ET Q q 0 0 0 rg BT 373.76 119.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 397.35 119.10 Td (years ) Tj ET Q q 0 0 0 rg BT 420.38 119.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 462.31 119.10 Td (after ) Tj ET Q q 0 0 0 rg BT 482.56 119.10 Td (December ) Tj ET Q q 0 0 0 rg BT 525.58 119.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 540.01 119.10 Td (2019, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 107.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.26 107.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 97.47 107.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 129.23 107.10 Td (within ) Tj ET Q q 0 0 0 rg BT 157.11 107.10 Td (those ) Tj ET Q q 0 0 0 rg BT 180.54 107.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 204.52 107.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 230.44 107.10 Td (and ) Tj ET Q q 0 0 0 rg BT 247.20 107.10 Td (early ) Tj ET Q q 0 0 0 rg BT 269.51 107.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 306.83 107.10 Td (is ) Tj ET Q q 0 0 0 rg BT 315.82 107.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 358.97 107.10 Td ( ) Tj ET Q q 0 0 0 rg BT 361.29 107.10 Td (Entities ) Tj ET Q q 0 0 0 rg BT 394.16 107.10 Td (must ) Tj ET Q q 0 0 0 rg BT 415.94 107.10 Td (adopt ) Tj ET Q q 0 0 0 rg BT 440.48 107.10 Td (the ) Tj ET Q q 0 0 0 rg BT 455.02 107.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 507.88 107.10 Td (on ) Tj ET Q q 0 0 0 rg BT 520.20 107.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 554.73 107.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 95.10 Td (unrealized ) Tj ET Q q 0 0 0 rg BT 93.43 95.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 116.82 95.10 Td (and ) Tj ET Q q 0 0 0 rg BT 133.55 95.10 Td (losses, ) Tj ET Q q 0 0 0 rg BT 162.23 95.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.73 95.10 Td (range ) Tj ET Q q 0 0 0 rg BT 201.23 95.10 Td (and ) Tj ET Q q 0 0 0 rg BT 217.95 95.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 256.90 95.10 Td (average ) Tj ET Q q 0 0 0 rg BT 290.27 95.10 Td (of ) Tj ET Q q 0 0 0 rg BT 300.89 95.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 345.39 95.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 400.99 95.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 427.73 95.10 Td (used ) Tj ET Q q 0 0 0 rg BT 448.34 95.10 Td (to ) Tj ET Q q 0 0 0 rg BT 458.41 95.10 Td (develop ) Tj ET Q q 0 0 0 rg BT 492.35 95.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 517.40 95.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 524.69 95.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 540.85 95.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 83.10 Td (measurements, ) Tj ET Q q 0 0 0 rg BT 110.75 83.10 Td (and ) Tj ET Q q 0 0 0 rg BT 126.74 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 140.51 83.10 Td (narrative ) Tj ET Q q 0 0 0 rg BT 177.60 83.10 Td (description ) Tj ET Q q 0 0 0 rg BT 223.58 83.10 Td (of ) Tj ET Q q 0 0 0 rg BT 233.46 83.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 288.33 83.10 Td (uncertainty ) Tj ET Q q 0 0 0 rg BT 334.86 83.10 Td (prospectively) Tj ET Q q 0 0 0 rg BT 388.08 83.10 Td (, ) Tj ET Q q 0 0 0 rg BT 392.13 83.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.12 83.10 Td (all ) Tj ET Q q 0 0 0 rg BT 419.67 83.10 Td (other ) Tj ET Q q 0 0 0 rg BT 441.77 83.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 493.86 83.10 Td (should ) Tj ET Q q 0 0 0 rg BT 522.08 83.10 Td (be ) Tj ET Q q 0 0 0 rg BT 533.07 83.10 Td (applied ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 71.10 Td (retrospectively ) Tj ET Q q 0 0 0 rg BT 111.46 71.10 Td (to ) Tj ET Q q 0 0 0 rg BT 121.77 71.10 Td (all ) Tj ET Q q 0 0 0 rg BT 134.30 71.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 166.28 71.10 Td (presented. ) Tj ET Q q 0 0 0 rg BT 209.63 71.10 Td ( ) Tj ET Q q 0 0 0 rg BT 211.98 71.10 Td (The ) Tj ET Q q 0 0 0 rg BT 230.07 71.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 267.60 71.10 Td (of ) Tj ET Q q 0 0 0 rg BT 277.90 71.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 300.45 71.10 Td (2018-13 ) Tj ET Q q 0 0 0 rg BT 336.31 71.10 Td (is ) Tj ET Q q 0 0 0 rg BT 345.52 71.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 384.15 71.10 Td (not ) Tj ET Q q 0 0 0 rg BT 399.46 71.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 437.53 71.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.85 71.10 Td (have ) Tj ET Q q 0 0 0 rg BT 469.26 71.10 Td (a ) Tj ET Q q 0 0 0 rg BT 476.24 71.10 Td (material ) Tj ET Q q 0 0 0 rg BT 511.53 71.10 Td (ef) Tj ET Q q 0 0 0 rg BT 519.12 71.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 536.64 71.10 Td (on ) Tj ET Q q 0 0 0 rg BT 549.18 71.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 59.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 102.54 59.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 140.02 59.10 Td (statements ) Tj ET Q q 0 0 0 rg BT 184.73 59.10 Td (but ) Tj ET Q q 0 0 0 rg BT 200.01 59.10 Td (may ) Tj ET Q q 0 0 0 rg BT 219.73 59.10 Td (require ) Tj ET Q q 0 0 0 rg BT 250.54 59.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 290.80 59.10 Td (footnote ) Tj ET Q q 0 0 0 rg BT 326.62 59.10 Td (disclosures.) Tj ET Q endstream endobj 155 0 obj <> endobj 156 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (77) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 701.10 Td (Leases. ) Tj ET Q q 0 0 0 rg BT 101.13 701.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.93 701.10 Td (In ) Tj ET Q q 0 0 0 rg BT 115.05 701.10 Td (February ) Tj ET Q q 0 0 0 rg BT 153.95 701.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 179.25 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.26 701.10 Td (F) Tj ET Q q 0 0 0 rg BT 199.08 701.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 221.33 701.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 248.51 701.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 271.32 701.10 Td (2016-02, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 309.94 701.10 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.17 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 339.96 701.10 Td (\(�ASU ) Tj ET Q q 0 0 0 rg BT 370.53 701.10 Td (2016-02�\). ) Tj ET Q q 0 0 0 rg BT 416.93 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 419.11 701.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 441.91 701.10 Td (2016-02 ) Tj ET Q q 0 0 0 rg BT 478.04 701.10 Td (amends ) Tj ET Q q 0 0 0 rg BT 511.39 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.40 701.10 Td (guidance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.54 689.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 85.90 689.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 132.14 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.30 689.10 Td (require ) Tj ET Q q 0 0 0 rg BT 172.99 689.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 195.35 689.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 221.06 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 237.87 689.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 277.46 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 287.62 689.10 Td (be ) Tj ET Q q 0 0 0 rg BT 299.43 689.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 345.67 689.10 Td (on ) Tj ET Q q 0 0 0 rg BT 358.04 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 372.63 689.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 405.54 689.10 Td (sheet, ) Tj ET Q q 0 0 0 rg BT 430.96 689.10 Td (along ) Tj ET Q q 0 0 0 rg BT 455.56 689.10 Td (with ) Tj ET Q q 0 0 0 rg BT 475.71 689.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 518.08 689.10 Td (disclosures ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 90.56 677.10 Td (key ) Tj ET Q q 0 0 0 rg BT 107.74 677.10 Td (leasing ) Tj ET Q q 0 0 0 rg BT 138.81 677.10 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 197.92 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 200.46 677.10 Td (The ) Tj ET Q q 0 0 0 rg BT 218.15 677.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 240.90 677.10 Td (does ) Tj ET Q q 0 0 0 rg BT 261.97 677.10 Td (not ) Tj ET Q q 0 0 0 rg BT 277.50 677.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 302.46 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 312.98 677.10 Td (mineral ) Tj ET Q q 0 0 0 rg BT 346.26 677.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 372.89 677.10 Td (or ) Tj ET Q q 0 0 0 rg BT 383.96 677.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 410.58 677.10 Td (that ) Tj ET Q q 0 0 0 rg BT 428.32 677.10 Td (convey ) Tj ET Q q 0 0 0 rg BT 459.94 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.90 677.10 Td (right ) Tj ET Q q 0 0 0 rg BT 496.53 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 507.06 677.10 Td (explore ) Tj ET Q q 0 0 0 rg BT 539.79 677.10 Td (for ) Tj ET Q q 0 0 0 rg BT 554.19 677.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (use ) Tj ET Q q 0 0 0 rg BT 65.17 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 79.73 665.10 Td (land ) Tj ET Q q 0 0 0 rg BT 99.29 665.10 Td (on ) Tj ET Q q 0 0 0 rg BT 111.64 665.10 Td (which ) Tj ET Q q 0 0 0 rg BT 138.42 665.10 Td (oil, ) Tj ET Q q 0 0 0 rg BT 153.82 665.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 183.93 665.10 Td (gas, ) Tj ET Q q 0 0 0 rg BT 202.10 665.10 Td (and ) Tj ET Q q 0 0 0 rg BT 218.88 665.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 249.00 665.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 279.11 665.10 Td (resources ) Tj ET Q q 0 0 0 rg BT 319.21 665.10 Td (are ) Tj ET Q q 0 0 0 rg BT 333.76 665.10 Td (contained. ) Tj ET Q q 0 0 0 rg BT 377.48 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 379.65 665.10 Td (The ) Tj ET Q q 0 0 0 rg BT 397.54 665.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 450.43 665.10 Td (in ) Tj ET Q q 0 0 0 rg BT 460.55 665.10 Td (this ) Tj ET Q q 0 0 0 rg BT 476.83 665.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 499.17 665.10 Td (are ) Tj ET Q q 0 0 0 rg BT 513.73 665.10 Td (ef) Tj ET Q q 0 0 0 rg BT 521.31 665.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 550.86 665.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 74.17 653.10 Td (years ) Tj ET Q q 0 0 0 rg BT 98.28 653.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 141.29 653.10 Td (after ) Tj ET Q q 0 0 0 rg BT 162.63 653.10 Td (December ) Tj ET Q q 0 0 0 rg BT 206.72 653.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 222.24 653.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 247.75 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 265.21 653.10 Td (interim ) Tj ET Q q 0 0 0 rg BT 297.10 653.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 329.56 653.10 Td (within ) Tj ET Q q 0 0 0 rg BT 358.13 653.10 Td (those ) Tj ET Q q 0 0 0 rg BT 382.25 653.10 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 406.92 653.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 433.54 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 450.99 653.10 Td (early ) Tj ET Q q 0 0 0 rg BT 473.99 653.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 512.00 653.10 Td (is ) Tj ET Q q 0 0 0 rg BT 521.69 653.10 Td (permitted. ) Tj ET Q q 0 0 0 rg BT 565.01 653.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (Entities ) Tj ET Q q 0 0 0 rg BT 81.96 641.10 Td (must ) Tj ET Q q 0 0 0 rg BT 103.31 641.10 Td (adopt ) Tj ET Q q 0 0 0 rg BT 127.43 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.55 641.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 177.33 641.10 Td (using ) Tj ET Q q 0 0 0 rg BT 200.91 641.10 Td (a ) Tj ET Q q 0 0 0 rg BT 207.25 641.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 245.26 641.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 298.80 641.10 Td (transition ) Tj ET Q q 0 0 0 rg BT 338.48 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 354.82 641.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 378.94 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.06 641.10 Td (guidance ) Tj ET Q q 0 0 0 rg BT 431.06 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 440.75 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.87 641.10 Td (earliest ) Tj ET Q q 0 0 0 rg BT 485.64 641.10 Td (comparative ) Tj ET Q q 0 0 0 rg BT 536.97 641.10 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (presented, ) Tj ET Q q 0 0 0 rg BT 91.87 629.10 Td (with ) Tj ET Q q 0 0 0 rg BT 111.21 629.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 139.97 629.10 Td (practical ) Tj ET Q q 0 0 0 rg BT 175.95 629.10 Td (expedients ) Tj ET Q q 0 0 0 rg BT 220.27 629.10 Td (that ) Tj ET Q q 0 0 0 rg BT 236.82 629.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 267.26 629.10 Td (may ) Tj ET Q q 0 0 0 rg BT 286.03 629.10 Td (elect ) Tj ET Q q 0 0 0 rg BT 306.46 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 315.80 629.10 Td (apply) Tj ET Q q 0 0 0 rg BT 337.37 629.10 Td (. ) Tj ET Q q 0 0 0 rg BT 341.42 629.10 Td ( ) Tj ET Q q 0 0 0 rg BT 342.98 629.10 Td (In ) Tj ET Q q 0 0 0 rg BT 352.87 629.10 Td (January ) Tj ET Q q 0 0 0 rg BT 385.53 629.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 409.58 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 423.36 629.10 Td (F) Tj ET Q q 0 0 0 rg BT 428.18 629.10 Td (ASB ) Tj ET Q q 0 0 0 rg BT 449.19 629.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 475.40 629.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 496.96 629.10 Td (2018-01,�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 535.29 629.10 Td (Leases ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 57.47 617.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 77.23 617.10 Td (842\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.56 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 98.11 617.10 Td (� ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 105.65 617.10 Td (Land ) Tj ET Q q 0 0 0 rg BT 128.75 617.10 Td (Easement ) Tj ET Q q 0 0 0 rg BT 170.17 617.10 Td (Practical ) Tj ET Q q 0 0 0 rg BT 209.93 617.10 Td (Expedient ) Tj ET Q q 0 0 0 rg BT 252.45 617.10 Td (for ) Tj ET Q q 0 0 0 rg BT 266.67 617.10 Td (T) Tj ET Q q 0 0 0 rg BT 271.67 617.10 Td (ransition ) Tj ET Q q 0 0 0 rg BT 310.34 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 320.66 617.10 Td (T) Tj ET Q q 0 0 0 rg BT 325.30 617.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 345.06 617.10 Td (842) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.06 617.10 Td (, ) Tj ET Q q 0 0 0 rg BT 365.10 617.10 Td (which ) Tj ET Q q 0 0 0 rg BT 392.08 617.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 429.07 617.10 Td (an ) Tj ET Q q 0 0 0 rg BT 441.05 617.10 Td (optional ) Tj ET Q q 0 0 0 rg BT 476.36 617.10 Td (practical ) Tj ET Q q 0 0 0 rg BT 513.33 617.10 Td (expedient ) Tj ET Q q 0 0 0 rg BT 554.74 617.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 83.41 605.10 Td (or ) Tj ET Q q 0 0 0 rg BT 93.98 605.10 Td (expired ) Tj ET Q q 0 0 0 rg BT 126.21 605.10 Td (land ) Tj ET Q q 0 0 0 rg BT 145.67 605.10 Td (easements ) Tj ET Q q 0 0 0 rg BT 189.00 605.10 Td (that ) Tj ET Q q 0 0 0 rg BT 206.24 605.10 Td (were ) Tj ET Q q 0 0 0 rg BT 227.91 605.10 Td (not ) Tj ET Q q 0 0 0 rg BT 242.93 605.10 Td (previously ) Tj ET Q q 0 0 0 rg BT 287.39 605.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 330.17 605.10 Td (for ) Tj ET Q q 0 0 0 rg BT 344.07 605.10 Td (as ) Tj ET Q q 0 0 0 rg BT 354.64 605.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 380.76 605.10 Td (under ) Tj ET Q q 0 0 0 rg BT 405.61 605.10 Td (T) Tj ET Q q 0 0 0 rg BT 411.02 605.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 430.48 605.10 Td (840, ) Tj ET Q q 0 0 0 rg BT 450.23 605.10 Td (which ) Tj ET Q q 0 0 0 rg BT 476.91 605.10 Td (permits ) Tj ET Q q 0 0 0 rg BT 509.14 605.10 Td (a ) Tj ET Q q 0 0 0 rg BT 515.83 605.10 Td (company ) Tj ET Q q 0 0 0 rg BT 554.72 605.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (evaluate ) Tj ET Q q 0 0 0 rg BT 86.82 593.10 Td (only ) Tj ET Q q 0 0 0 rg BT 108.61 593.10 Td (new ) Tj ET Q q 0 0 0 rg BT 129.28 593.10 Td (or ) Tj ET Q q 0 0 0 rg BT 141.62 593.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 181.73 593.10 Td (land ) Tj ET Q q 0 0 0 rg BT 202.96 593.10 Td (easements ) Tj ET Q q 0 0 0 rg BT 248.06 593.10 Td (under ) Tj ET Q q 0 0 0 rg BT 274.84 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.07 593.10 Td (new ) Tj ET Q q 0 0 0 rg BT 311.74 593.10 Td (guidance. ) Tj ET Q q 0 0 0 rg BT 354.05 593.10 Td (W) Tj ET Q q 0 0 0 rg BT 362.69 593.10 Td (e ) Tj ET Q q 0 0 0 rg BT 371.14 593.10 Td (intend ) Tj ET Q q 0 0 0 rg BT 400.14 593.10 Td (to ) Tj ET Q q 0 0 0 rg BT 411.93 593.10 Td (adopt ) Tj ET Q q 0 0 0 rg BT 438.16 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.38 593.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 492.27 593.10 Td (using ) Tj ET Q q 0 0 0 rg BT 517.95 593.10 Td (a ) Tj ET Q q 0 0 0 rg BT 526.40 593.10 Td (modified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 103.84 581.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 143.18 581.10 Td (with ) Tj ET Q q 0 0 0 rg BT 163.66 581.10 Td (an ) Tj ET Q q 0 0 0 rg BT 175.80 581.10 Td (application ) Tj ET Q q 0 0 0 rg BT 222.93 581.10 Td (date ) Tj ET Q q 0 0 0 rg BT 242.28 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 253.31 581.10 Td (January ) Tj ET Q q 0 0 0 rg BT 287.11 581.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 297.31 581.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 320.01 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.15 581.10 Td (elect ) Tj ET Q q 0 0 0 rg BT 358.72 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 373.63 581.10 Td (practical ) Tj ET Q q 0 0 0 rg BT 410.75 581.10 Td (expedients ) Tj ET Q q 0 0 0 rg BT 456.21 581.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 494.46 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 504.94 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 519.85 581.10 Td (new ) Tj ET Q q 0 0 0 rg BT 538.62 581.10 Td (ASUs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (that ) Tj ET Q q 0 0 0 rg BT 66.80 569.10 Td (allow ) Tj ET Q q 0 0 0 rg BT 91.33 569.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 130.85 569.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 153.14 569.10 Td (classification ) Tj ET Q q 0 0 0 rg BT 208.20 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 218.84 569.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 252.81 569.10 Td (leases, ) Tj ET Q q 0 0 0 rg BT 281.50 569.10 Td (allow ) Tj ET Q q 0 0 0 rg BT 306.02 569.10 Td (entities ) Tj ET Q q 0 0 0 rg BT 337.21 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 347.30 569.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 388.46 569.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 414.65 569.10 Td (with ) Tj ET Q q 0 0 0 rg BT 434.73 569.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 459.26 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 469.90 569.10 Td (one ) Tj ET Q q 0 0 0 rg BT 486.64 569.10 Td (year ) Tj ET Q q 0 0 0 rg BT 506.16 569.10 Td (or ) Tj ET Q q 0 0 0 rg BT 516.79 569.10 Td (less ) Tj ET Q q 0 0 0 rg BT 534.10 569.10 Td (in ) Tj ET Q q 0 0 0 rg BT 544.19 569.10 Td (their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (statement ) Tj ET Q q 0 0 0 rg BT 89.63 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 99.78 557.10 Td (operations, ) Tj ET Q q 0 0 0 rg BT 145.74 557.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.00 557.10 Td (carry ) Tj ET Q q 0 0 0 rg BT 184.35 557.10 Td (forward ) Tj ET Q q 0 0 0 rg BT 217.81 557.10 Td (our ) Tj ET Q q 0 0 0 rg BT 232.95 557.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 278.64 557.10 Td (treatment ) Tj ET Q q 0 0 0 rg BT 318.21 557.10 Td (for ) Tj ET Q q 0 0 0 rg BT 331.68 557.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 365.16 557.10 Td (land ) Tj ET Q q 0 0 0 rg BT 384.19 557.10 Td (easement ) Tj ET Q q 0 0 0 rg BT 423.21 557.10 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 473.05 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 474.73 557.10 Td (W) Tj ET Q q 0 0 0 rg BT 483.37 557.10 Td (e ) Tj ET Q q 0 0 0 rg BT 489.62 557.10 Td (have ) Tj ET Q q 0 0 0 rg BT 510.31 557.10 Td (implemented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.54 545.10 Td (software ) Tj ET Q q 0 0 0 rg BT 93.57 545.10 Td (system ) Tj ET Q q 0 0 0 rg BT 123.95 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 134.33 545.10 Td (summarize ) Tj ET Q q 0 0 0 rg BT 180.80 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.62 545.10 Td (key ) Tj ET Q q 0 0 0 rg BT 212.66 545.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 247.47 545.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 272.28 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 289.32 545.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 326.91 545.10 Td (information ) Tj ET Q q 0 0 0 rg BT 376.72 545.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 420.42 545.10 Td (with ) Tj ET Q q 0 0 0 rg BT 440.79 545.10 Td (each ) Tj ET Q q 0 0 0 rg BT 461.71 545.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 484.30 545.10 Td (agreement, ) Tj ET Q q 0 0 0 rg BT 531.04 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 541.42 545.10 Td (order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.95 533.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 87.07 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 101.96 533.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 131.84 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.73 533.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 184.40 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 194.81 533.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 217.49 533.10 Td (2016-02 ) Tj ET Q q 0 0 0 rg BT 253.49 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 270.01 533.10 Td (ASU ) Tj ET Q q 0 0 0 rg BT 292.69 533.10 Td (2018-01 ) Tj ET Q q 0 0 0 rg BT 328.69 533.10 Td (will ) Tj ET Q q 0 0 0 rg BT 346.92 533.10 Td (have ) Tj ET Q q 0 0 0 rg BT 368.47 533.10 Td (on ) Tj ET Q q 0 0 0 rg BT 381.14 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 397.14 533.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 450.36 533.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 488.01 533.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 535.39 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.07 533.10 Td (Based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (on ) Tj ET Q q 0 0 0 rg BT 61.96 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 77.75 521.10 Td (assessment ) Tj ET Q q 0 0 0 rg BT 124.64 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 135.43 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 151.22 521.10 Td (leasing ) Tj ET Q q 0 0 0 rg BT 182.00 521.10 Td (arrangements, ) Tj ET Q q 0 0 0 rg BT 240.82 521.10 Td (we ) Tj ET Q q 0 0 0 rg BT 254.94 521.10 Td (anticipate ) Tj ET Q q 0 0 0 rg BT 296.26 521.10 Td (recording ) Tj ET Q q 0 0 0 rg BT 337.03 521.10 Td (an ) Tj ET Q q 0 0 0 rg BT 348.93 521.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 389.15 521.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 411.59 521.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 445.16 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 455.95 521.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.16 521.10 Td ($55 ) Tj ET Q q 0 0 0 rg BT 533.62 521.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 89.44 509.10 Td (for ) Tj ET Q q 0 0 0 rg BT 103.83 509.10 Td (of) Tj ET Q q 0 0 0 rg BT 111.98 509.10 Td (fice ) Tj ET Q q 0 0 0 rg BT 129.69 509.10 Td (leases. ) Tj ET Q q 0 0 0 rg BT 158.79 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 161.32 509.10 Td (The ) Tj ET Q q 0 0 0 rg BT 179.60 509.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 213.43 509.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 260.02 509.10 Td (for ) Tj ET Q q 0 0 0 rg BT 274.41 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 290.46 509.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 330.96 509.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 357.56 509.10 Td (has ) Tj ET Q q 0 0 0 rg BT 373.62 509.10 Td (not ) Tj ET Q q 0 0 0 rg BT 389.12 509.10 Td (changed ) Tj ET Q q 0 0 0 rg BT 425.16 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 436.22 509.10 Td (a ) Tj ET Q q 0 0 0 rg BT 443.39 509.10 Td (result ) Tj ET Q q 0 0 0 rg BT 468.33 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.39 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 494.33 509.10 Td (adoption ) Tj ET Q q 0 0 0 rg BT 532.05 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 542.51 509.10 Td (ASU ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (2016-02.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 71.99 473.10 Td (2. ) Tj ET Q q 0 0 0 rg BT 81.99 473.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 121.15 473.10 Td (Recognition) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 172.26 473.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 449.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 449.10 Td (e ) Tj ET Q q 0 0 0 rg BT 84.04 449.10 Td (record ) Tj ET Q q 0 0 0 rg BT 113.05 449.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 148.16 449.10 Td (in ) Tj ET Q q 0 0 0 rg BT 159.41 449.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 207.84 449.10 Td (with ) Tj ET Q q 0 0 0 rg BT 229.09 449.10 Td (F) Tj ET Q q 0 0 0 rg BT 233.91 449.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 256.58 449.10 Td (T) Tj ET Q q 0 0 0 rg BT 261.99 449.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 282.67 449.10 Td (606,�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 302.67 449.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 340.00 449.10 Td (fr) Tj ET Q q 0 0 0 rg BT 346.30 449.10 Td (om ) Tj ET Q q 0 0 0 rg BT 361.99 449.10 Td (Contracts ) Tj ET Q q 0 0 0 rg BT 404.91 449.10 Td (with ) Tj ET Q q 0 0 0 rg BT 425.60 449.10 Td (Customers) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 468.38 449.10 Td (, ) Tj ET Q q 0 0 0 rg BT 474.35 449.10 Td (which ) Tj ET Q q 0 0 0 rg BT 502.26 449.10 Td (we ) Tj ET Q q 0 0 0 rg BT 517.39 449.10 Td (adopted ) Tj ET Q q 0 0 0 rg BT 552.51 449.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (January ) Tj ET Q q 0 0 0 rg BT 82.86 437.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 92.62 437.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 117.38 437.10 Td (and ) Tj ET Q q 0 0 0 rg BT 134.08 437.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 165.77 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 175.81 437.10 Td (all ) Tj ET Q q 0 0 0 rg BT 188.06 437.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 221.99 437.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 260.34 437.10 Td (using ) Tj ET Q q 0 0 0 rg BT 284.27 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.75 437.10 Td (modified ) Tj ET Q q 0 0 0 rg BT 337.11 437.10 Td (retrospective ) Tj ET Q q 0 0 0 rg BT 391.01 437.10 Td (method. ) Tj ET Q q 0 0 0 rg BT 425.77 437.10 Td ( ) Tj ET Q q 0 0 0 rg BT 427.86 437.10 Td (The ) Tj ET Q q 0 0 0 rg BT 445.67 437.10 Td (core ) Tj ET Q q 0 0 0 rg BT 465.14 437.10 Td (principle ) Tj ET Q q 0 0 0 rg BT 502.94 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 513.53 437.10 Td (F) Tj ET Q q 0 0 0 rg BT 518.35 437.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 539.90 437.10 Td (T) Tj ET Q q 0 0 0 rg BT 545.31 437.10 Td (opic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (606 ) Tj ET Q q 0 0 0 rg BT 67.47 425.10 Td (is ) Tj ET Q q 0 0 0 rg BT 77.12 425.10 Td (that ) Tj ET Q q 0 0 0 rg BT 95.08 425.10 Td (an ) Tj ET Q q 0 0 0 rg BT 107.49 425.10 Td (entity ) Tj ET Q q 0 0 0 rg BT 133.24 425.10 Td (should ) Tj ET Q q 0 0 0 rg BT 162.88 425.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 204.72 425.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 239.34 425.10 Td (for ) Tj ET Q q 0 0 0 rg BT 253.97 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 269.16 425.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 302.67 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 313.97 425.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 340.83 425.10 Td (or ) Tj ET Q q 0 0 0 rg BT 352.14 425.10 Td (services ) Tj ET Q q 0 0 0 rg BT 387.32 425.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 411.95 425.10 Td (to ) Tj ET Q q 0 0 0 rg BT 422.70 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.89 425.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 470.85 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 482.16 425.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 539.00 425.10 Td (that ) Tj ET Q q 0 0 0 rg BT 556.97 425.10 Td (it ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (expects ) Tj ET Q q 0 0 0 rg BT 82.20 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 92.69 413.10 Td (be ) Tj ET Q q 0 0 0 rg BT 104.84 413.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 137.54 413.10 Td (to ) Tj ET Q q 0 0 0 rg BT 148.03 413.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 179.61 413.10 Td (for ) Tj ET Q q 0 0 0 rg BT 193.98 413.10 Td (those ) Tj ET Q q 0 0 0 rg BT 217.80 413.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 244.40 413.10 Td (or ) Tj ET Q q 0 0 0 rg BT 255.45 413.10 Td (services. ) Tj ET Q q 0 0 0 rg BT 292.87 413.10 Td ( ) Tj ET Q q 0 0 0 rg BT 295.38 413.10 Td (This ) Tj ET Q q 0 0 0 rg BT 315.87 413.10 Td (principle ) Tj ET Q q 0 0 0 rg BT 354.13 413.10 Td (is ) Tj ET Q q 0 0 0 rg BT 363.51 413.10 Td (achieved ) Tj ET Q q 0 0 0 rg BT 401.76 413.10 Td (through ) Tj ET Q q 0 0 0 rg BT 435.58 413.10 Td (applying ) Tj ET Q q 0 0 0 rg BT 473.28 413.10 Td (a ) Tj ET Q q 0 0 0 rg BT 480.43 413.10 Td (five-step ) Tj ET Q q 0 0 0 rg BT 518.13 413.10 Td (process ) Tj ET Q q 0 0 0 rg BT 550.83 413.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 88.66 401.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 123.36 401.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 157.50 401.10 Td (recognition:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 377.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 377.10 Td (Identify ) Tj ET Q q 0 0 0 rg BT 119.37 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 133.80 377.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 168.21 377.10 Td (or ) Tj ET Q q 0 0 0 rg BT 178.76 377.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 217.06 377.10 Td (with ) Tj ET Q q 0 0 0 rg BT 237.06 377.10 Td (a ) Tj ET Q q 0 0 0 rg BT 243.71 377.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 282.58 377.10 Td (� ) Tj ET Q q 0 0 0 rg BT 289.63 377.10 Td (W) Tj ET Q q 0 0 0 rg BT 298.27 377.10 Td (e ) Tj ET Q q 0 0 0 rg BT 304.92 377.10 Td (derive ) Tj ET Q q 0 0 0 rg BT 332.12 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 346.55 377.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 382.64 377.10 Td (of ) Tj ET Q q 0 0 0 rg BT 393.19 377.10 Td (our ) Tj ET Q q 0 0 0 rg BT 408.73 377.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 446.48 377.10 Td (from ) Tj ET Q q 0 0 0 rg BT 468.13 377.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 480.90 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 497.56 377.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 527.53 377.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 543.08 377.10 Td (sales ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 88.01 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 104.86 365.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 118.75 363.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.00 365.10 Td (�sales ) Tj ET Q q 0 0 0 rg BT 146.35 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 163.20 365.10 Td (transportation ) Tj ET Q q 0 0 0 rg BT 221.15 365.10 Td (contracts. ) Tj ET Q q 0 0 0 rg BT 262.16 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.40 365.10 Td (The ) Tj ET Q q 0 0 0 rg BT 282.36 365.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 320.86 365.10 Td (specify ) Tj ET Q q 0 0 0 rg BT 352.15 365.10 Td (each ) Tj ET Q q 0 0 0 rg BT 372.88 365.10 Td (party�) Tj ET Q q 0 0 0 rg BT 396.20 365.10 Td (s ) Tj ET Q q 0 0 0 rg BT 402.51 365.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 427.70 365.10 Td (regarding ) Tj ET Q q 0 0 0 rg BT 468.42 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 483.05 365.10 Td (goods ) Tj ET Q q 0 0 0 rg BT 509.36 365.10 Td (or ) Tj ET Q q 0 0 0 rg BT 520.10 365.10 Td (services ) Tj ET Q q 0 0 0 rg BT 554.72 365.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (be ) Tj ET Q q 0 0 0 rg BT 61.76 353.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 107.89 353.10 Td (and ) Tj ET Q q 0 0 0 rg BT 125.15 353.10 Td (contain ) Tj ET Q q 0 0 0 rg BT 157.40 353.10 Td (commercial ) Tj ET Q q 0 0 0 rg BT 207.42 353.10 Td (substance ) Tj ET Q q 0 0 0 rg BT 249.12 353.10 Td (as ) Tj ET Q q 0 0 0 rg BT 260.27 353.10 Td (they ) Tj ET Q q 0 0 0 rg BT 280.31 353.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 310.34 353.10 Td (our ) Tj ET Q q 0 0 0 rg BT 326.49 353.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 364.29 353.10 Td (statements. ) Tj ET Q q 0 0 0 rg BT 411.83 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.03 353.10 Td (A) Tj ET Q q 0 0 0 rg BT 420.70 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 423.52 353.10 Td (high ) Tj ET Q q 0 0 0 rg BT 444.12 353.10 Td (percentage ) Tj ET Q q 0 0 0 rg BT 490.24 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 501.39 353.10 Td (our ) Tj ET Q q 0 0 0 rg BT 517.54 353.10 Td (receivables ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 82.35 341.10 Td (is ) Tj ET Q q 0 0 0 rg BT 91.34 341.10 Td (current, ) Tj ET Q q 0 0 0 rg BT 124.47 341.10 Td (and ) Tj ET Q q 0 0 0 rg BT 141.22 341.10 Td (we ) Tj ET Q q 0 0 0 rg BT 155.20 341.10 Td (have ) Tj ET Q q 0 0 0 rg BT 176.39 341.10 Td (not ) Tj ET Q q 0 0 0 rg BT 191.49 341.10 Td (historically ) Tj ET Q q 0 0 0 rg BT 238.80 341.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 270.54 341.10 Td (into ) Tj ET Q q 0 0 0 rg BT 288.41 341.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 326.82 341.10 Td (with ) Tj ET Q q 0 0 0 rg BT 346.92 341.10 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 405.87 341.10 Td (that ) Tj ET Q q 0 0 0 rg BT 423.19 341.10 Td (pose ) Tj ET Q q 0 0 0 rg BT 443.83 341.10 Td (a ) Tj ET Q q 0 0 0 rg BT 450.59 341.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 475.67 341.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 492.99 341.10 Td (without ) Tj ET Q q 0 0 0 rg BT 525.86 341.10 Td (requiring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 87.53 329.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 128.90 329.10 Td (protection ) Tj ET Q q 0 0 0 rg BT 171.95 329.10 Td (to ) Tj ET Q q 0 0 0 rg BT 182.22 329.10 Td (ensure ) Tj ET Q q 0 0 0 rg BT 210.82 329.10 Td (collection.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 305.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 305.10 Td (Identify ) Tj ET Q q 0 0 0 rg BT 118.61 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 132.27 305.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 184.25 305.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 230.14 305.10 Td (in ) Tj ET Q q 0 0 0 rg BT 239.37 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.03 305.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 286.69 305.10 Td (� ) Tj ET Q q 0 0 0 rg BT 293.14 305.10 Td (Each ) Tj ET Q q 0 0 0 rg BT 314.57 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 324.35 305.10 Td (our ) Tj ET Q q 0 0 0 rg BT 339.13 305.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 372.23 305.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 409.77 305.10 Td (specify ) Tj ET Q q 0 0 0 rg BT 440.10 305.10 Td (a ) Tj ET Q q 0 0 0 rg BT 445.99 305.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 477.43 305.10 Td (per ) Tj ET Q q 0 0 0 rg BT 491.65 305.10 Td (day) Tj ET Q q 0 0 0 rg BT 505.44 305.10 Td (, ) Tj ET Q q 0 0 0 rg BT 509.39 305.10 Td (or ) Tj ET Q q 0 0 0 rg BT 519.17 305.10 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.87 293.10 Td (a ) Tj ET Q q 0 0 0 rg BT 79.23 293.10 Td (lease ) Tj ET Q q 0 0 0 rg BT 102.15 293.10 Td (designated ) Tj ET Q q 0 0 0 rg BT 147.84 293.10 Td (in ) Tj ET Q q 0 0 0 rg BT 158.55 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 173.69 293.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 208.82 293.10 Td (\(a ) Tj ET Q q 0 0 0 rg BT 219.52 293.10 Td (distinct ) Tj ET Q q 0 0 0 rg BT 251.89 293.10 Td (good\), ) Tj ET Q q 0 0 0 rg BT 280.65 293.10 Td (to ) Tj ET Q q 0 0 0 rg BT 291.36 293.10 Td (be ) Tj ET Q q 0 0 0 rg BT 303.73 293.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 343.86 293.10 Td (at ) Tj ET Q q 0 0 0 rg BT 354.00 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.15 293.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 404.84 293.10 Td (point ) Tj ET Q q 0 0 0 rg BT 428.33 293.10 Td (over ) Tj ET Q q 0 0 0 rg BT 449.02 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 464.17 293.10 Td (term ) Tj ET Q q 0 0 0 rg BT 485.42 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 496.68 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 511.83 293.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 546.96 293.10 Td (\(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (identified ) Tj ET Q q 0 0 0 rg BT 91.09 281.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 144.89 281.10 Td (obligation\). ) Tj ET Q q 0 0 0 rg BT 194.54 281.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.57 281.10 Td (The ) Tj ET Q q 0 0 0 rg BT 216.39 281.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 256.32 281.10 Td (takes ) Tj ET Q q 0 0 0 rg BT 280.14 281.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 316.17 281.10 Td (and ) Tj ET Q q 0 0 0 rg BT 333.88 281.10 Td (physical ) Tj ET Q q 0 0 0 rg BT 370.48 281.10 Td (possession ) Tj ET Q q 0 0 0 rg BT 416.53 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 428.14 281.10 Td (the ) Tj ET Q q 0 0 0 rg BT 443.62 281.10 Td (product ) Tj ET Q q 0 0 0 rg BT 477.44 281.10 Td (at ) Tj ET Q q 0 0 0 rg BT 487.93 281.10 Td (the ) Tj ET Q q 0 0 0 rg BT 503.42 281.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 539.45 281.10 Td (point, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (which ) Tj ET Q q 0 0 0 rg BT 75.89 269.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 115.04 269.10 Td (is ) Tj ET Q q 0 0 0 rg BT 123.66 269.10 Td (also ) Tj ET Q q 0 0 0 rg BT 141.72 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 155.88 269.10 Td (point ) Tj ET Q q 0 0 0 rg BT 178.39 269.10 Td (at ) Tj ET Q q 0 0 0 rg BT 187.56 269.10 Td (which ) Tj ET Q q 0 0 0 rg BT 213.95 269.10 Td (title ) Tj ET Q q 0 0 0 rg BT 231.45 269.10 Td (transfers ) Tj ET Q q 0 0 0 rg BT 267.83 269.10 Td (and ) Tj ET Q q 0 0 0 rg BT 284.21 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 298.38 269.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 336.98 269.10 Td (obtains ) Tj ET Q q 0 0 0 rg BT 367.82 269.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.99 269.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 402.83 269.10 Td (and ) Tj ET Q q 0 0 0 rg BT 419.22 269.10 Td (rewards ) Tj ET Q q 0 0 0 rg BT 452.82 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 463.10 269.10 Td (ownership ) Tj ET Q q 0 0 0 rg BT 506.71 269.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 524.20 269.10 Td (identified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 102.52 257.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 145.57 257.10 Td (is ) Tj ET Q q 0 0 0 rg BT 154.74 257.10 Td (satisfied\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 233.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 233.10 Td (Determine ) Tj ET Q q 0 0 0 rg BT 129.93 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 144.37 233.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 190.47 233.10 Td (price ) Tj ET Q q 0 0 0 rg BT 212.68 233.10 Td (� ) Tj ET Q q 0 0 0 rg BT 219.75 233.10 Td (T) Tj ET Q q 0 0 0 rg BT 225.16 233.10 Td (ypically) Tj ET Q q 0 0 0 rg BT 256.72 233.10 Td (, ) Tj ET Q q 0 0 0 rg BT 261.45 233.10 Td (our ) Tj ET Q q 0 0 0 rg BT 277.00 233.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 289.79 233.10 Td (and ) Tj ET Q q 0 0 0 rg BT 306.45 233.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 336.44 233.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 352.00 233.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 390.32 233.10 Td (define ) Tj ET Q q 0 0 0 rg BT 417.53 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 431.97 233.10 Td (price ) Tj ET Q q 0 0 0 rg BT 454.19 233.10 Td (as ) Tj ET Q q 0 0 0 rg BT 464.74 233.10 Td (a ) Tj ET Q q 0 0 0 rg BT 471.41 233.10 Td (formula ) Tj ET Q q 0 0 0 rg BT 505.29 233.10 Td (price ) Tj ET Q q 0 0 0 rg BT 527.50 233.10 Td (based ) Tj ET Q q 0 0 0 rg BT 552.50 233.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.11 221.10 Td (average ) Tj ET Q q 0 0 0 rg BT 97.58 221.10 Td (market ) Tj ET Q q 0 0 0 rg BT 127.74 221.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 152.62 221.10 Td (as ) Tj ET Q q 0 0 0 rg BT 163.34 221.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 201.82 221.10 Td (on ) Tj ET Q q 0 0 0 rg BT 214.21 221.10 Td (set ) Tj ET Q q 0 0 0 rg BT 227.71 221.10 Td (dates ) Tj ET Q q 0 0 0 rg BT 250.65 221.10 Td (each ) Tj ET Q q 0 0 0 rg BT 271.36 221.10 Td (month, ) Tj ET Q q 0 0 0 rg BT 301.81 221.10 Td (for ) Tj ET Q q 0 0 0 rg BT 315.86 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 330.47 221.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 363.95 221.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 411.90 221.10 Td (during ) Tj ET Q q 0 0 0 rg BT 440.40 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 455.01 221.10 Td (month ) Tj ET Q q 0 0 0 rg BT 482.95 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.68 221.10 Td (delivery) Tj ET Q q 0 0 0 rg BT 525.79 221.10 Td (. ) Tj ET Q q 0 0 0 rg BT 530.68 221.10 Td ( ) Tj ET Q q 0 0 0 rg BT 533.07 221.10 Td (Certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.57 209.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.64 209.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 90.53 207.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.78 209.10 Td ( ) Tj ET Q q 0 0 0 rg BT 96.52 209.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 135.35 209.10 Td (define ) Tj ET Q q 0 0 0 rg BT 163.07 209.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.03 209.10 Td (price ) Tj ET Q q 0 0 0 rg BT 200.75 209.10 Td (as ) Tj ET Q q 0 0 0 rg BT 211.82 209.10 Td (a ) Tj ET Q q 0 0 0 rg BT 219.00 209.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 242.28 209.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 289.44 209.10 Td (price ) Tj ET Q q 0 0 0 rg BT 312.16 209.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 348.23 209.10 Td (to ) Tj ET Q q 0 0 0 rg BT 358.74 209.10 Td (an ) Tj ET Q q 0 0 0 rg BT 370.92 209.10 Td (inflation ) Tj ET Q q 0 0 0 rg BT 407.54 209.10 Td (index ) Tj ET Q q 0 0 0 rg BT 432.49 209.10 Td (to ) Tj ET Q q 0 0 0 rg BT 443.01 209.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 471.28 209.10 Td (market ) Tj ET Q q 0 0 0 rg BT 501.78 209.10 Td (pricing. ) Tj ET Q q 0 0 0 rg BT 535.35 209.10 Td ( ) Tj ET Q q 0 0 0 rg BT 538.08 209.10 Td (Given ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.75 197.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 100.55 197.10 Td (practice ) Tj ET Q q 0 0 0 rg BT 135.23 197.10 Td (to ) Tj ET Q q 0 0 0 rg BT 146.03 197.10 Td (invoice ) Tj ET Q q 0 0 0 rg BT 178.50 197.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 222.07 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 237.32 197.10 Td (month ) Tj ET Q q 0 0 0 rg BT 265.91 197.10 Td (following ) Tj ET Q q 0 0 0 rg BT 307.82 197.10 Td (the ) Tj ET Q q 0 0 0 rg BT 323.07 197.10 Td (month ) Tj ET Q q 0 0 0 rg BT 351.66 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 363.02 197.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 398.81 197.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.28 197.10 Td (our ) Tj ET Q q 0 0 0 rg BT 432.64 197.10 Td (high ) Tj ET Q q 0 0 0 rg BT 453.45 197.10 Td (probability ) Tj ET Q q 0 0 0 rg BT 500.36 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.72 197.10 Td (collection ) Tj ET Q q 0 0 0 rg BT 554.18 197.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (payment, ) Tj ET Q q 0 0 0 rg BT 88.93 185.10 Td (no ) Tj ET Q q 0 0 0 rg BT 101.43 185.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 146.15 185.10 Td (financing ) Tj ET Q q 0 0 0 rg BT 186.41 185.10 Td (component ) Tj ET Q q 0 0 0 rg BT 233.34 185.10 Td (is ) Tj ET Q q 0 0 0 rg BT 242.51 185.10 Td (included ) Tj ET Q q 0 0 0 rg BT 279.45 185.10 Td (in ) Tj ET Q q 0 0 0 rg BT 289.72 185.10 Td (our ) Tj ET Q q 0 0 0 rg BT 305.55 185.10 Td (contracts.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 161.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 161.10 Td (Allocate ) Tj ET Q q 0 0 0 rg BT 121.82 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 136.48 161.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 182.80 161.10 Td (price ) Tj ET Q q 0 0 0 rg BT 205.23 161.10 Td (to ) Tj ET Q q 0 0 0 rg BT 215.46 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 230.12 161.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 283.09 161.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 329.98 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 340.20 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.87 161.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 389.51 161.10 Td (� ) Tj ET Q q 0 0 0 rg BT 396.78 161.10 Td (The ) Tj ET Q q 0 0 0 rg BT 414.78 161.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 451.10 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 461.88 161.10 Td (our ) Tj ET Q q 0 0 0 rg BT 477.66 161.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 511.75 161.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 550.29 161.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (short-term, ) Tj ET Q q 0 0 0 rg BT 95.29 149.10 Td (with ) Tj ET Q q 0 0 0 rg BT 114.70 149.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 138.54 149.10 Td (of ) Tj ET Q q 0 0 0 rg BT 148.50 149.10 Td (one ) Tj ET Q q 0 0 0 rg BT 164.57 149.10 Td (year ) Tj ET Q q 0 0 0 rg BT 183.41 149.10 Td (or ) Tj ET Q q 0 0 0 rg BT 193.37 149.10 Td (less, ) Tj ET Q q 0 0 0 rg BT 212.50 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 221.91 149.10 Td (which ) Tj ET Q q 0 0 0 rg BT 247.98 149.10 Td (we ) Tj ET Q q 0 0 0 rg BT 261.27 149.10 Td (have ) Tj ET Q q 0 0 0 rg BT 281.78 149.10 Td (applied ) Tj ET Q q 0 0 0 rg BT 312.84 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.69 149.10 Td (practical ) Tj ET Q q 0 0 0 rg BT 362.74 149.10 Td (expedient ) Tj ET Q q 0 0 0 rg BT 403.25 149.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 443.20 149.10 Td (under ) Tj ET Q q 0 0 0 rg BT 467.60 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.44 149.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 516.95 149.10 Td (eliminating ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.55 137.10 Td (requirement ) Tj ET Q q 0 0 0 rg BT 115.70 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 126.31 137.10 Td (disclose ) Tj ET Q q 0 0 0 rg BT 161.36 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.41 137.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 223.12 137.10 Td (price ) Tj ET Q q 0 0 0 rg BT 245.94 137.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 284.86 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 295.47 137.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 338.85 137.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 392.21 137.10 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 441.99 137.10 Td ( ) Tj ET Q q 0 0 0 rg BT 444.82 137.10 Td (In ) Tj ET Q q 0 0 0 rg BT 455.98 137.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 487.15 137.10 Td (instances, ) Tj ET Q q 0 0 0 rg BT 529.14 137.10 Td (we ) Tj ET Q q 0 0 0 rg BT 543.63 137.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 83.43 125.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 121.81 125.10 Td (with ) Tj ET Q q 0 0 0 rg BT 141.87 125.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 166.37 125.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 196.41 125.10 Td (than ) Tj ET Q q 0 0 0 rg BT 215.91 125.10 Td (one ) Tj ET Q q 0 0 0 rg BT 232.63 125.10 Td (year; ) Tj ET Q q 0 0 0 rg BT 254.90 125.10 Td (however) Tj ET Q q 0 0 0 rg BT 288.93 125.10 Td (, ) Tj ET Q q 0 0 0 rg BT 293.71 125.10 Td (the ) Tj ET Q q 0 0 0 rg BT 308.22 125.10 Td (future ) Tj ET Q q 0 0 0 rg BT 334.38 125.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 369.42 125.10 Td (volumes ) Tj ET Q q 0 0 0 rg BT 405.60 125.10 Td (are ) Tj ET Q q 0 0 0 rg BT 420.09 125.10 Td (wholly ) Tj ET Q q 0 0 0 rg BT 450.15 125.10 Td (unsatisfied ) Tj ET Q q 0 0 0 rg BT 495.76 125.10 Td (as ) Tj ET Q q 0 0 0 rg BT 506.37 125.10 Td (they ) Tj ET Q q 0 0 0 rg BT 525.87 125.10 Td (represent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (separate ) Tj ET Q q 0 0 0 rg BT 83.88 113.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 136.03 113.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 182.10 113.10 Td (with ) Tj ET Q q 0 0 0 rg BT 201.51 113.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 235.34 113.10 Td (consideration. ) Tj ET Q q 0 0 0 rg BT 293.34 113.10 Td ( ) Tj ET Q q 0 0 0 rg BT 294.85 113.10 Td (W) Tj ET Q q 0 0 0 rg BT 303.48 113.10 Td (e ) Tj ET Q q 0 0 0 rg BT 309.55 113.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 341.17 113.10 Td (the ) Tj ET Q q 0 0 0 rg BT 355.01 113.10 Td (practical ) Tj ET Q q 0 0 0 rg BT 391.06 113.10 Td (expedient ) Tj ET Q q 0 0 0 rg BT 431.56 113.10 Td (which ) Tj ET Q q 0 0 0 rg BT 457.62 113.10 Td (eliminates ) Tj ET Q q 0 0 0 rg BT 500.35 113.10 Td (the ) Tj ET Q q 0 0 0 rg BT 514.19 113.10 Td (requirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.77 101.10 Td (disclose ) Tj ET Q q 0 0 0 rg BT 94.48 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.19 101.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 155.55 101.10 Td (price ) Tj ET Q q 0 0 0 rg BT 178.03 101.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 216.61 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 226.88 101.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 269.91 101.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 322.93 101.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 369.86 101.10 Td (if ) Tj ET Q q 0 0 0 rg BT 378.46 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 393.17 101.10 Td (variable ) Tj ET Q q 0 0 0 rg BT 427.86 101.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 484.23 101.10 Td (is ) Tj ET Q q 0 0 0 rg BT 493.39 101.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 531.97 101.10 Td (entirely ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.54 89.10 Td (wholly ) Tj ET Q q 0 0 0 rg BT 91.59 89.10 Td (unsatisfied ) Tj ET Q q 0 0 0 rg BT 138.18 89.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 191.97 89.10 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 242.18 89.10 Td ( ) Tj ET Q q 0 0 0 rg BT 244.73 89.10 Td (As ) Tj ET Q q 0 0 0 rg BT 259.11 89.10 Td (there ) Tj ET Q q 0 0 0 rg BT 282.36 89.10 Td (is ) Tj ET Q q 0 0 0 rg BT 292.29 89.10 Td (only ) Tj ET Q q 0 0 0 rg BT 313.34 89.10 Td (one ) Tj ET Q q 0 0 0 rg BT 331.04 89.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 384.83 89.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 428.65 89.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 473.01 89.10 Td (with ) Tj ET Q q 0 0 0 rg BT 494.06 89.10 Td (our ) Tj ET Q q 0 0 0 rg BT 510.65 89.10 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 552.51 89.10 Td (no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.10 Td (allocation ) Tj ET Q q 0 0 0 rg BT 91.43 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 102.26 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 116.98 77.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 163.35 77.10 Td (price ) Tj ET Q q 0 0 0 rg BT 185.83 77.10 Td (is ) Tj ET Q q 0 0 0 rg BT 195.00 77.10 Td (necessary) Tj ET Q q 0 0 0 rg BT 233.22 77.10 Td (.) Tj ET Q endstream endobj 157 0 obj <> endobj 158 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 713.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 713.10 Td (Recognize ) Tj ET Q q 0 0 0 rg BT 129.74 713.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 163.42 713.10 Td (when, ) Tj ET Q q 0 0 0 rg BT 189.61 713.10 Td (or ) Tj ET Q q 0 0 0 rg BT 199.98 713.10 Td (as, ) Tj ET Q q 0 0 0 rg BT 212.84 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 226.54 713.10 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 254.68 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 261.16 713.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 313.71 713.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 356.30 713.10 Td (� ) Tj ET Q q 0 0 0 rg BT 363.34 713.10 Td (Once ) Tj ET Q q 0 0 0 rg BT 386.47 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 400.17 713.10 Td (have ) Tj ET Q q 0 0 0 rg BT 421.08 713.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 460.31 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 474.57 713.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 506.60 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 516.96 713.10 Td (commodity ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.72 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.37 701.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 109.58 701.10 Td (point ) Tj ET Q q 0 0 0 rg BT 132.57 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 149.45 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 164.10 701.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 203.20 701.10 Td (takes ) Tj ET Q q 0 0 0 rg BT 226.18 701.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 261.39 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 278.26 701.10 Td (possession, ) Tj ET Q q 0 0 0 rg BT 325.99 701.10 Td (we ) Tj ET Q q 0 0 0 rg BT 340.09 701.10 Td (are ) Tj ET Q q 0 0 0 rg BT 354.73 701.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 387.16 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 397.38 701.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 434.25 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 451.13 701.10 Td (we ) Tj ET Q q 0 0 0 rg BT 465.23 701.10 Td (invoice ) Tj ET Q q 0 0 0 rg BT 497.10 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 511.76 701.10 Td (customer ) Tj ET Q q 0 0 0 rg BT 550.85 701.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (such ) Tj ET Q q 0 0 0 rg BT 70.02 689.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 109.41 689.10 Td (production. ) Tj ET Q q 0 0 0 rg BT 157.42 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 159.60 689.10 Td (Payment ) Tj ET Q q 0 0 0 rg BT 196.79 689.10 Td (under ) Tj ET Q q 0 0 0 rg BT 221.74 689.10 Td (most ) Tj ET Q q 0 0 0 rg BT 243.38 689.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 256.12 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 272.74 689.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 286.63 687.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.88 689.10 Td (�contracts ) Tj ET Q q 0 0 0 rg BT 330.66 689.10 Td (is ) Tj ET Q q 0 0 0 rg BT 339.52 689.10 Td (made ) Tj ET Q q 0 0 0 rg BT 363.36 689.10 Td (within ) Tj ET Q q 0 0 0 rg BT 391.11 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 397.73 689.10 Td (month ) Tj ET Q q 0 0 0 rg BT 425.47 689.10 Td (following ) Tj ET Q q 0 0 0 rg BT 466.55 689.10 Td (product ) Tj ET Q q 0 0 0 rg BT 499.28 689.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 534.23 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 550.86 689.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 79.29 677.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 94.64 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 111.10 677.10 Td (NGL) Tj ET Q q 0 0 0 rg BT 131.28 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.31 677.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 171.43 677.10 Td (is ) Tj ET Q q 0 0 0 rg BT 180.12 677.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 219.35 677.10 Td (made ) Tj ET Q q 0 0 0 rg BT 243.03 677.10 Td (within ) Tj ET Q q 0 0 0 rg BT 270.61 677.10 Td (two ) Tj ET Q q 0 0 0 rg BT 287.63 677.10 Td (months ) Tj ET Q q 0 0 0 rg BT 319.10 677.10 Td (following ) Tj ET Q q 0 0 0 rg BT 360.01 677.10 Td (delivery) Tj ET Q q 0 0 0 rg BT 392.13 677.10 Td (. ) Tj ET Q q 0 0 0 rg BT 396.65 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 398.53 677.10 Td (T) Tj ET Q q 0 0 0 rg BT 404.29 677.10 Td (iming ) Tj ET Q q 0 0 0 rg BT 429.64 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 440.00 677.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 473.67 677.10 Td (recognition ) Tj ET Q q 0 0 0 rg BT 521.23 677.10 Td (may ) Tj ET Q q 0 0 0 rg BT 540.47 677.10 Td (dif) Tj ET Q q 0 0 0 rg BT 551.40 677.10 Td (fer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.18 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 85.65 665.10 Td (timing ) Tj ET Q q 0 0 0 rg BT 114.01 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 124.58 665.10 Td (invoicing ) Tj ET Q q 0 0 0 rg BT 164.60 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 174.63 665.10 Td (customers; ) Tj ET Q q 0 0 0 rg BT 220.20 665.10 Td (however) Tj ET Q q 0 0 0 rg BT 254.23 665.10 Td (, ) Tj ET Q q 0 0 0 rg BT 258.97 665.10 Td (as ) Tj ET Q q 0 0 0 rg BT 269.55 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.01 665.10 Td (right ) Tj ET Q q 0 0 0 rg BT 305.14 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 315.17 665.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 371.29 665.10 Td (after ) Tj ET Q q 0 0 0 rg BT 391.85 665.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 426.86 665.10 Td (is ) Tj ET Q q 0 0 0 rg BT 435.77 665.10 Td (unconditional ) Tj ET Q q 0 0 0 rg BT 493.01 665.10 Td (based ) Tj ET Q q 0 0 0 rg BT 518.03 665.10 Td (on ) Tj ET Q q 0 0 0 rg BT 530.27 665.10 Td (only ) Tj ET Q q 0 0 0 rg BT 550.30 665.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (passage ) Tj ET Q q 0 0 0 rg BT 82.04 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.81 653.10 Td (time ) Tj ET Q q 0 0 0 rg BT 111.03 653.10 Td (before ) Tj ET Q q 0 0 0 rg BT 138.01 653.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 173.88 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.65 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.31 653.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 252.63 653.10 Td (is ) Tj ET Q q 0 0 0 rg BT 260.74 653.10 Td (due, ) Tj ET Q q 0 0 0 rg BT 279.12 653.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 300.56 653.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 334.77 653.10 Td (we ) Tj ET Q q 0 0 0 rg BT 347.87 653.10 Td (record ) Tj ET Q q 0 0 0 rg BT 374.85 653.10 Td (a ) Tj ET Q q 0 0 0 rg BT 380.73 653.10 Td (receivable ) Tj ET Q q 0 0 0 rg BT 423.25 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 432.47 653.10 Td (�Accrued ) Tj ET Q q 0 0 0 rg BT 472.22 653.10 Td (production ) Tj ET Q q 0 0 0 rg BT 516.98 653.10 Td (receivable� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.19 641.10 Td (our ) Tj ET Q q 0 0 0 rg BT 76.43 641.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 132.11 641.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 167.22 641.10 Td (Sheets, ) Tj ET Q q 0 0 0 rg BT 198.74 641.10 Td (which ) Tj ET Q q 0 0 0 rg BT 226.09 641.10 Td (was�$) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 249.14 641.10 Td (125.8 ) Tj ET Q q 0 0 0 rg BT 274.55 641.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.45 641.10 Td (�and�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.88 641.10 Td ($146.3 ) Tj ET Q q 0 0 0 rg BT 353.29 641.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.19 641.10 Td (�as ) Tj ET Q q 0 0 0 rg BT 395.93 641.10 Td (of�December ) Tj ET Q q 0 0 0 rg BT 450.75 641.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 466.16 641.10 Td (2018�and ) Tj ET Q q 0 0 0 rg BT 506.01 641.10 Td (December ) Tj ET Q q 0 0 0 rg BT 550.00 641.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 74.50 629.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 122.16 629.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (Disaggr) Tj ET Q q 0 0 0 rg BT 82.65 605.10 Td (egation of Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 581.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.55 581.10 Td (following ) Tj ET Q q 0 0 0 rg BT 126.93 581.10 Td (table ) Tj ET Q q 0 0 0 rg BT 148.87 581.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 199.13 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 214.96 581.10 Td (revenues ) Tj ET Q q 0 0 0 rg BT 253.00 581.10 Td (by ) Tj ET Q q 0 0 0 rg BT 265.50 581.10 Td (product ) Tj ET Q q 0 0 0 rg BT 298.54 581.10 Td (type ) Tj ET Q q 0 0 0 rg BT 318.26 581.10 Td (for ) Tj ET Q q 0 0 0 rg BT 332.42 581.10 Td (the�years ) Tj ET Q q 0 0 0 rg BT 370.74 581.10 Td (ended�December ) Tj ET Q q 0 0 0 rg BT 440.70 581.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 455.70 581.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 480.70 581.10 Td (2017�and�2016:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 540.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 540.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 540.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 540.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 540.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 540.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 540.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 510.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 510.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 510.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 510.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 510.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 510.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 510.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 555.6 m 425 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 555.6 m 429 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 555.6 m 494 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 555.6 m 498 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 555.6 m 563 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 540.6 m 356 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 555.6 m 425 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 540.6 m 425 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 555.6 m 429 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 555.6 m 494 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 540.6 m 494 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 555.6 m 498 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 555.6 m 563 555.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 540.6 m 563 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 540.6 m 356 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 540.6 m 425 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 540.6 m 494 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 540.6 m 563 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 495.6 m 425 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 495.6 m 494 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 495.6 m 563 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 495.6 m 425 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 481.6 m 425 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 479.6 m 425 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 495.6 m 494 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 481.6 m 494 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 479.6 m 494 479.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 495.6 m 563 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 481.6 m 563 481.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 479.6 m 563 479.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 560.27 Td (Y) Tj ET Q q 0 0 0 rg BT 414.67 560.27 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 545.31 Td (In ) Tj ET Q q 0 0 0 rg BT 63.33 545.31 Td (thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 545.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 545.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 545.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 530.27 Td (Oil sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 530.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 530.27 Td (1,412,358) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 530.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 530.27 Td (1,079,703) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 530.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 530.27 Td (924,618) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 515.27 Td (Natural gas sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 515.27 Td (10,231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 515.27 Td (9,963) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 515.27 Td (1) Tj ET Q q 0 0 0 rg BT 536.65 515.27 Td (1,133) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 500.27 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 66.39 498.84 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.64 500.27 Td ( sales and transportation fees) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 500.27 Td (31,145) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 500.27 Td (26,182) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 500.27 Td (24,816) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 485.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 485.27 Td (1,453,734) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 485.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 485.27 Td (1,1) Tj ET Q q 0 0 0 rg BT 462.65 485.27 Td (15,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 485.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 485.27 Td (960,567) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 457.10 Td (Note 3. Potential ) Tj ET Q q 0 0 0 rg BT 122.26 457.10 Td (Asset Sales) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 169.21 457.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 433.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 433.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.80 433.10 Td (are ) Tj ET Q q 0 0 0 rg BT 97.24 433.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 140.00 433.10 Td (for ) Tj ET Q q 0 0 0 rg BT 153.89 433.10 Td (sale ) Tj ET Q q 0 0 0 rg BT 171.67 433.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 201.09 433.10 Td (surface ) Tj ET Q q 0 0 0 rg BT 232.19 433.10 Td (land ) Tj ET Q q 0 0 0 rg BT 251.63 433.10 Td (with ) Tj ET Q q 0 0 0 rg BT 271.64 433.10 Td (no ) Tj ET Q q 0 0 0 rg BT 283.86 433.10 Td (active ) Tj ET Q q 0 0 0 rg BT 309.96 433.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 322.74 433.10 Td (and ) Tj ET Q q 0 0 0 rg BT 339.41 433.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 354.97 433.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 398.85 433.10 Td (in ) Tj ET Q q 0 0 0 rg BT 408.85 433.10 Td (the ) Tj ET Q q 0 0 0 rg BT 423.30 433.10 Td (Houston ) Tj ET Q q 0 0 0 rg BT 459.41 433.10 Td (area. ) Tj ET Q q 0 0 0 rg BT 480.79 433.10 Td ( ) Tj ET Q q 0 0 0 rg BT 482.52 433.10 Td (As ) Tj ET Q q 0 0 0 rg BT 495.86 433.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.42 433.10 Td (December�31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 421.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 421.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.23 421.10 Td (the ) Tj ET Q q 0 0 0 rg BT 88.67 421.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 124.21 421.10 Td (value ) Tj ET Q q 0 0 0 rg BT 148.09 421.10 Td (of ) Tj ET Q q 0 0 0 rg BT 158.65 421.10 Td (the ) Tj ET Q q 0 0 0 rg BT 173.09 421.10 Td (land ) Tj ET Q q 0 0 0 rg BT 192.53 421.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.31 421.10 Td ($33.0 ) Tj ET Q q 0 0 0 rg BT 235.03 421.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.92 421.10 Td (, ) Tj ET Q q 0 0 0 rg BT 268.65 421.10 Td (which ) Tj ET Q q 0 0 0 rg BT 295.31 421.10 Td (is ) Tj ET Q q 0 0 0 rg BT 304.21 421.10 Td (included ) Tj ET Q q 0 0 0 rg BT 340.87 421.10 Td (in ) Tj ET Q q 0 0 0 rg BT 350.87 421.10 Td (�Other ) Tj ET Q q 0 0 0 rg BT 380.31 421.10 Td (property ) Tj ET Q q 0 0 0 rg BT 416.41 421.10 Td (and ) Tj ET Q q 0 0 0 rg BT 433.07 421.10 Td (equipment� ) Tj ET Q q 0 0 0 rg BT 481.95 421.10 Td (on ) Tj ET Q q 0 0 0 rg BT 494.17 421.10 Td (our ) Tj ET Q q 0 0 0 rg BT 509.73 421.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 409.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 84.20 409.10 Td (Sheets.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 385.10 Td (Note 4. ) Tj ET Q q 0 0 0 rg BT 81.44 385.10 Td (Asset Retir) Tj ET Q q 0 0 0 rg BT 128.74 385.10 Td (ement Obligations) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 361.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.60 361.10 Td (following ) Tj ET Q q 0 0 0 rg BT 127.04 361.10 Td (table ) Tj ET Q q 0 0 0 rg BT 149.03 361.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 199.35 361.10 Td (the ) Tj ET Q q 0 0 0 rg BT 214.12 361.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 248.89 361.10 Td (in ) Tj ET Q q 0 0 0 rg BT 259.22 361.10 Td (our ) Tj ET Q q 0 0 0 rg BT 275.10 361.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 297.10 361.10 Td (retirement ) Tj ET Q q 0 0 0 rg BT 340.74 361.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 387.74 361.10 Td (for ) Tj ET Q q 0 0 0 rg BT 401.96 361.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.73 361.10 Td (years ) Tj ET Q q 0 0 0 rg BT 440.38 361.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.81 361.10 Td (December ) Tj ET Q q 0 0 0 rg BT 510.45 361.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 525.51 361.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.51 361.10 Td ( ) Tj ET Q q 0 0 0 rg BT 548.06 361.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 349.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 349.10 Td (:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 312.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 312.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 312.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 312.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 312.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 282.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 282.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 282.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 282.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 282.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 252.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 252.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 252.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 252.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 252.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 222.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 222.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 222.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 222.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 222.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 325.6 m 493 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 325.6 m 497 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 325.6 m 562 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 312.6 m 424 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 312.6 m 493 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 312.6 m 562 312.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 237.60000000000002 m 493 237.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 237.60000000000002 m 562 237.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 207.60000000000002 m 493 207.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 207.60000000000002 m 562 207.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 193.60000000000002 m 493 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 191.60000000000002 m 493 191.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 193.60000000000002 m 562 193.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 191.60000000000002 m 562 191.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 329.17 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.95 329.17 Td (Y) Tj ET Q q 0 0 0 rg BT 448.67 329.17 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 316.16 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 316.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 316.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 302.27 Td (Beginning asset retirement obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 302.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 302.27 Td (166,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 302.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 302.27 Td (149,120) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 287.27 Td (Liabilities incurred and assumed during period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 287.27 Td (2,201) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 287.27 Td (2,698) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 272.27 Td (Revisions in estimated retirement obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 272.27 Td (2,298) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 272.27 Td (6,867) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 257.27 Td (Liabilities settled and sold during period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 257.32 Td (\(9,481) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 257.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.30 257.32 Td (\(5,617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 257.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 242.27 Td (Accretion expense) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 242.27 Td (15,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 242.27 Td (13,242) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 227.27 Td (Ending asset retirement obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 227.27 Td (176,585) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 227.27 Td (166,310) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 212.27 Td (Less: current asset retirement obligations) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 227.89 216.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 212.32 Td (\(2,1) Tj ET Q q 0 0 0 rg BT 479.13 212.32 Td (15) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 212.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 212.32 Td (\(554) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 212.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 197.27 Td (Long-term asset retirement obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 197.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 197.27 Td (174,470) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 197.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 197.27 Td (165,756) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 169.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 169.10 Td (Included in �Accounts payable and accrued liabilities� in our Consolidated Balance Sheets.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 145.10 Td (Liabilities ) Tj ET Q q 0 0 0 rg BT 110.55 145.10 Td (assumed ) Tj ET Q q 0 0 0 rg BT 147.49 145.10 Td (relate ) Tj ET Q q 0 0 0 rg BT 172.19 145.10 Td (to ) Tj ET Q q 0 0 0 rg BT 182.47 145.10 Td (minor ) Tj ET Q q 0 0 0 rg BT 208.85 145.10 Td (acquisitions, ) Tj ET Q q 0 0 0 rg BT 261.63 145.10 Td (with ) Tj ET Q q 0 0 0 rg BT 281.90 145.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 321.62 145.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 357.44 145.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 397.14 145.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 430.18 145.10 Td (to ) Tj ET Q q 0 0 0 rg BT 440.46 145.10 Td (wells ) Tj ET Q q 0 0 0 rg BT 464.07 145.10 Td (and ) Tj ET Q q 0 0 0 rg BT 481.01 145.10 Td (facilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 121.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 121.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.90 121.10 Td (have ) Tj ET Q q 0 0 0 rg BT 106.10 121.10 Td (escrow ) Tj ET Q q 0 0 0 rg BT 137.74 121.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 176.05 121.10 Td (that ) Tj ET Q q 0 0 0 rg BT 194.36 121.10 Td (are ) Tj ET Q q 0 0 0 rg BT 209.89 121.10 Td (legally ) Tj ET Q q 0 0 0 rg BT 240.43 121.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 280.95 121.10 Td (for ) Tj ET Q q 0 0 0 rg BT 295.93 121.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 326.46 121.10 Td (of ) Tj ET Q q 0 0 0 rg BT 338.11 121.10 Td (our ) Tj ET Q q 0 0 0 rg BT 354.76 121.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 377.52 121.10 Td (retirement ) Tj ET Q q 0 0 0 rg BT 421.93 121.10 Td (obligations.��) Tj ET Q q 0 0 0 rg BT 473.69 121.10 Td (The ) Tj ET Q q 0 0 0 rg BT 492.56 121.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 530.31 121.10 Td (of ) Tj ET Q q 0 0 0 rg BT 541.96 121.10 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 109.10 Td (escrow ) Tj ET Q q 0 0 0 rg BT 81.37 109.10 Td (accounts ) Tj ET Q q 0 0 0 rg BT 119.91 109.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 142.89 109.10 Td ($42.1 ) Tj ET Q q 0 0 0 rg BT 168.94 109.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.83 109.10 Td ( ) Tj ET Q q 0 0 0 rg BT 201.39 109.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.38 109.10 Td ($40.6 ) Tj ET Q q 0 0 0 rg BT 245.43 109.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.32 109.10 Td ( ) Tj ET Q q 0 0 0 rg BT 277.87 109.10 Td (as ) Tj ET Q q 0 0 0 rg BT 289.76 109.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.64 109.10 Td (December ) Tj ET Q q 0 0 0 rg BT 346.27 109.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 362.33 109.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.33 109.10 Td ( ) Tj ET Q q 0 0 0 rg BT 385.88 109.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.87 109.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 423.87 109.10 Td (, ) Tj ET Q q 0 0 0 rg BT 429.92 109.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 477.58 109.10 Td (.��) Tj ET Q q 0 0 0 rg BT 484.90 109.10 Td (These ) Tj ET Q q 0 0 0 rg BT 512.33 109.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 550.31 109.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 97.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 88.41 97.10 Td (invested ) Tj ET Q q 0 0 0 rg BT 123.44 97.10 Td (in ) Tj ET Q q 0 0 0 rg BT 132.92 97.10 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 152.28 97.10 Td (T) Tj ET Q q 0 0 0 rg BT 158.04 97.10 Td (reasury ) Tj ET Q q 0 0 0 rg BT 189.16 97.10 Td (bonds, ) Tj ET Q q 0 0 0 rg BT 217.26 97.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 253.93 97.10 Td (at ) Tj ET Q q 0 0 0 rg BT 262.85 97.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 304.53 97.10 Td (cost, ) Tj ET Q q 0 0 0 rg BT 324.84 97.10 Td (and ) Tj ET Q q 0 0 0 rg BT 340.98 97.10 Td (money ) Tj ET Q q 0 0 0 rg BT 369.90 97.10 Td (market ) Tj ET Q q 0 0 0 rg BT 399.36 97.10 Td (accounts, ) Tj ET Q q 0 0 0 rg BT 438.55 97.10 Td (which ) Tj ET Q q 0 0 0 rg BT 464.69 97.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 514.16 97.10 Td (are ) Tj ET Q q 0 0 0 rg BT 528.07 97.10 Td (included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 85.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.72 85.10 Td (�Other ) Tj ET Q q 0 0 0 rg BT 89.37 85.10 Td (assets� ) Tj ET Q q 0 0 0 rg BT 119.58 85.10 Td (in ) Tj ET Q q 0 0 0 rg BT 129.80 85.10 Td (our ) Tj ET Q q 0 0 0 rg BT 145.58 85.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 200.79 85.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 235.44 85.10 Td (Sheets.��) Tj ET Q q 0 0 0 rg BT 268.49 85.10 Td (A) Tj ET Q q 0 0 0 rg BT 275.16 85.10 Td ( ) Tj ET Q q 0 0 0 rg BT 277.61 85.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 308.94 85.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.71 85.10 Td (these ) Tj ET Q q 0 0 0 rg BT 342.70 85.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 392.92 85.10 Td (are ) Tj ET Q q 0 0 0 rg BT 407.57 85.10 Td (included ) Tj ET Q q 0 0 0 rg BT 444.44 85.10 Td (in ) Tj ET Q q 0 0 0 rg BT 454.66 85.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 477.38 85.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 497.59 85.10 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 548.07 85.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 73.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 88.83 73.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 108.72 73.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 145.27 73.10 Td (on ) Tj ET Q q 0 0 0 rg BT 157.40 73.10 Td (our ) Tj ET Q q 0 0 0 rg BT 172.85 73.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 227.75 73.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 273.76 73.10 Td (of ) Tj ET Q q 0 0 0 rg BT 284.21 73.10 Td (Cash ) Tj ET Q q 0 0 0 rg BT 306.34 73.10 Td (Flows ) Tj ET Q q 0 0 0 rg BT 332.92 73.10 Td (\(see ) Tj ET Q q 0 0 0 rg BT 351.14 73.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 372.71 73.10 Td (1, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 382.33 73.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 427.63 73.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 475.30 73.10 Td (Policies ) Tj ET Q q 0 0 0 rg BT 509.64 73.10 Td (� ) Tj ET Q q 0 0 0 rg BT 516.76 73.10 Td (Cash, ) Tj ET Q q 0 0 0 rg BT 541.95 73.10 Td (Cash ) Tj ET Q endstream endobj 159 0 obj <> endobj 160 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (79) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (Equivalents, ) Tj ET Q q 0 0 0 rg BT 101.65 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 119.09 713.10 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 162.07 713.10 Td (Cash) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.63 713.10 Td (\). ) Tj ET Q q 0 0 0 rg BT 190.90 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 193.16 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 211.15 713.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 246.90 713.10 Td (value ) Tj ET Q q 0 0 0 rg BT 271.00 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 281.77 713.10 Td (these ) Tj ET Q q 0 0 0 rg BT 304.75 713.10 Td (investments ) Tj ET Q q 0 0 0 rg BT 354.97 713.10 Td (approximates ) Tj ET Q q 0 0 0 rg BT 411.28 713.10 Td (their ) Tj ET Q q 0 0 0 rg BT 432.04 713.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 472.80 713.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 489.12 713.10 Td (market ) Tj ET Q q 0 0 0 rg BT 519.32 713.10 Td (value ) Tj ET Q q 0 0 0 rg BT 543.41 713.10 Td (as ) Tj ET Q q 0 0 0 rg BT 554.18 713.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.08 701.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 108.08 701.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 130.58 701.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.52 701.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.52 701.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (Note 5. Unevaluated Pr) Tj ET Q q 0 0 0 rg BT 148.75 677.10 Td (operty) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 653.10 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.60 653.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 116.24 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.00 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 141.65 653.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 192.39 653.10 Td (property ) Tj ET Q q 0 0 0 rg BT 228.69 653.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 251.12 653.10 Td (excluded ) Tj ET Q q 0 0 0 rg BT 289.64 653.10 Td (from ) Tj ET Q q 0 0 0 rg BT 311.51 653.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 324.49 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 341.36 653.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 371.55 653.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 387.31 653.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 429.72 653.10 Td (being ) Tj ET Q q 0 0 0 rg BT 454.37 653.10 Td (amortized ) Tj ET Q q 0 0 0 rg BT 496.78 653.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.42 653.10 Td (December�31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 641.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.50 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 91.44 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 106.16 641.10 Td (year ) Tj ET Q q 0 0 0 rg BT 125.86 641.10 Td (in ) Tj ET Q q 0 0 0 rg BT 136.14 641.10 Td (which ) Tj ET Q q 0 0 0 rg BT 163.08 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 177.80 641.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 200.30 641.10 Td (were ) Tj ET Q q 0 0 0 rg BT 222.22 641.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 258.04 641.10 Td (follows:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 585.60 159.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 208.00 585.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 212.00 585.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 277.00 585.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 281.00 585.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 346.00 585.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 350.00 585.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 415.00 585.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 419.00 585.60 74.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 585.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 585.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 555.60 159.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 208.00 555.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 212.00 555.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 277.00 555.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 281.00 555.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 346.00 555.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 350.00 555.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 415.00 555.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 419.00 555.60 74.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 555.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 555.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 615.6 m 277 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 615.6 m 281 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 615.6 m 346 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346 615.6 m 350 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 615.6 m 415 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 615.6 m 419 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 615.6 m 493 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 615.6 m 497 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 615.6 m 562 615.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 600.6 m 277 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 277 600.6 m 281 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 600.6 m 346 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 346 600.6 m 350 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 600.6 m 415 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 415 600.6 m 419 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 600.6 m 493 600.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 585.6 m 208 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 585.6 m 277 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 585.6 m 346 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 585.6 m 415 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 585.6 m 493 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 585.6 m 562 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 585.6 m 277 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 585.6 m 346 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 585.6 m 415 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 585.6 m 493 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 585.6 m 562 585.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 540.6 m 277 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 540.6 m 346 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 540.6 m 415 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 540.6 m 493 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 540.6 m 562 540.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 526.6 m 277 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 212 524.6 m 277 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 526.6 m 346 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 281 524.6 m 346 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 526.6 m 415 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 350 524.6 m 415 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 526.6 m 493 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 419 524.6 m 493 524.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 526.6 m 562 526.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 524.6 m 562 524.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 620.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 347.20 620.27 Td (December 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 605.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.85 605.27 Td (Costs Incurred During:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 605.27 Td (�) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 590.31 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 234.00 590.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.00 590.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.00 590.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.75 590.27 Td (2015 and Prior) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.75 590.27 Td (T) Tj ET Q q 0 0 0 rg BT 524.16 590.27 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 575.27 Td (Property acquisition costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 575.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 263.15 575.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 575.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 575.27 Td (8,527) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 575.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.15 575.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 575.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 575.27 Td (582,364) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 575.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 575.27 Td (590,891) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 560.27 Td (Exploration and development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 250.65 560.27 Td (9,849) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 560.27 Td (6,948) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 560.27 Td (20,673) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 560.27 Td (189,890) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 560.27 Td (227,360) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 545.27 Td (Capitalized interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.65 545.27 Td (36,510) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 545.27 Td (30,762) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 545.27 Td (25,220) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 545.27 Td (85,957) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 545.27 Td (178,449) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 530.27 Td (T) Tj ET Q q 0 0 0 rg BT 68.91 530.27 Td (otal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.50 530.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 245.65 530.27 Td (46,359) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.50 530.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.65 530.27 Td (46,237) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.50 530.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.65 530.27 Td (45,893) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.50 530.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 530.27 Td (858,21) Tj ET Q q 0 0 0 rg BT 484.15 530.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 530.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 530.27 Td (996,700) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 502.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.23 502.10 Td (property ) Tj ET Q q 0 0 0 rg BT 121.28 502.10 Td (acquisition ) Tj ET Q q 0 0 0 rg BT 167.34 502.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 189.51 502.10 Td (for ) Tj ET Q q 0 0 0 rg BT 203.35 502.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 225.52 502.10 Td (and ) Tj ET Q q 0 0 0 rg BT 242.14 502.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 263.75 502.10 Td (were ) Tj ET Q q 0 0 0 rg BT 285.35 502.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 324.74 502.10 Td (related ) Tj ET Q q 0 0 0 rg BT 354.12 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 364.07 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 378.46 502.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 394.52 502.10 Td (value ) Tj ET Q q 0 0 0 rg BT 418.35 502.10 Td (allocated ) Tj ET Q q 0 0 0 rg BT 456.61 502.10 Td (to ) Tj ET Q q 0 0 0 rg BT 466.56 502.10 Td (the ) Tj ET Q q 0 0 0 rg BT 480.96 502.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 518.67 502.10 Td (of ) Tj ET Q q 0 0 0 rg BT 529.17 502.10 Td (interests ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 490.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.56 490.10 Td (the ) Tj ET Q q 0 0 0 rg BT 76.07 490.10 Td (Cedar ) Tj ET Q q 0 0 0 rg BT 103.23 490.10 Td (Creek ) Tj ET Q q 0 0 0 rg BT 129.67 490.10 Td (Anticline ) Tj ET Q q 0 0 0 rg BT 170.17 490.10 Td (\(�CCA�\) ) Tj ET Q q 0 0 0 rg BT 209.55 490.10 Td (and ) Tj ET Q q 0 0 0 rg BT 227.28 490.10 Td (Hartzog ) Tj ET Q q 0 0 0 rg BT 262.77 490.10 Td (Draw) Tj ET Q q 0 0 0 rg BT 284.33 490.10 Td (, ) Tj ET Q q 0 0 0 rg BT 290.12 490.10 Td (as ) Tj ET Q q 0 0 0 rg BT 301.73 490.10 Td (well ) Tj ET Q q 0 0 0 rg BT 322.24 490.10 Td (as ) Tj ET Q q 0 0 0 rg BT 333.85 490.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 347.74 488.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 350.99 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 354.28 490.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 386.44 490.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 424.71 490.10 Td (at ) Tj ET Q q 0 0 0 rg BT 435.22 490.10 Td (Conroe ) Tj ET Q q 0 0 0 rg BT 467.94 490.10 Td (Field. ) Tj ET Q q 0 0 0 rg BT 494.29 490.10 Td ( ) Tj ET Q q 0 0 0 rg BT 497.57 490.10 Td (Exploration ) Tj ET Q q 0 0 0 rg BT 548.07 490.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 478.10 Td (development ) Tj ET Q q 0 0 0 rg BT 103.10 478.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 125.05 478.10 Td (shown ) Tj ET Q q 0 0 0 rg BT 153.12 478.10 Td (as ) Tj ET Q q 0 0 0 rg BT 163.40 478.10 Td (unevaluated ) Tj ET Q q 0 0 0 rg BT 213.67 478.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 255.60 478.10 Td (are ) Tj ET Q q 0 0 0 rg BT 269.76 478.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 308.93 478.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 351.97 478.10 Td (with 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466.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 354.67 466.10 Td (development ) Tj ET Q q 0 0 0 rg BT 408.10 466.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 429.89 466.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 464.98 466.10 Td (during ) Tj ET Q q 0 0 0 rg BT 492.87 466.10 Td (each ) Tj ET Q q 0 0 0 rg BT 512.97 466.10 Td (period ) Tj ET Q q 0 0 0 rg BT 540.30 466.10 Td (relate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 454.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.10 454.10 Td (development ) Tj ET Q q 0 0 0 rg BT 112.57 454.10 Td (in ) Tj ET Q q 0 0 0 rg BT 122.16 454.10 Td (preparation ) Tj ET Q q 0 0 0 rg BT 169.51 454.10 Td (for ) Tj ET Q q 0 0 0 rg BT 182.99 454.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.03 454.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 210.92 452.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.17 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 215.99 454.10 Td (floods ) Tj ET Q q 0 0 0 rg BT 242.81 454.10 Td (at ) Tj ET Q q 0 0 0 rg BT 251.84 454.10 Td (Grieve ) Tj ET Q q 0 0 0 rg BT 280.87 454.10 Td (and ) Tj ET Q q 0 0 0 rg BT 297.00 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 305.63 454.10 Td (ebster ) Tj ET Q q 0 0 0 rg BT 331.33 454.10 Td (fields. ) Tj ET Q q 0 0 0 rg BT 357.86 454.10 Td ( ) Tj ET Q q 0 0 0 rg BT 359.55 454.10 Td (W) Tj ET Q q 0 0 0 rg BT 368.19 454.10 Td (e ) Tj ET Q q 0 0 0 rg BT 374.45 454.10 Td (have ) Tj ET Q q 0 0 0 rg BT 395.14 454.10 Td (not ) Tj ET Q q 0 0 0 rg BT 409.74 454.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 423.78 454.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 469.46 454.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 499.04 454.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 529.74 454.10 Td (reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 442.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.78 442.10 Td (these ) Tj ET Q q 0 0 0 rg BT 82.83 442.10 Td (fields.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 418.10 Td (Costs ) Tj ET Q q 0 0 0 rg BT 91.90 418.10 Td (are ) Tj ET Q q 0 0 0 rg BT 106.28 418.10 Td (transferred ) Tj ET Q q 0 0 0 rg BT 151.76 418.10 Td (into ) Tj ET Q q 0 0 0 rg BT 169.48 418.10 Td (the ) Tj ET Q q 0 0 0 rg BT 183.87 418.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 236.58 418.10 Td (base ) Tj ET Q q 0 0 0 rg BT 256.52 418.10 Td (on ) Tj ET Q q 0 0 0 rg BT 268.69 418.10 Td (an ) Tj ET Q q 0 0 0 rg BT 280.30 418.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 315.24 418.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 337.41 418.10 Td (as ) Tj ET Q q 0 0 0 rg BT 347.92 418.10 Td (projects ) Tj ET Q q 0 0 0 rg BT 381.74 418.10 Td (are ) Tj ET Q q 0 0 0 rg BT 396.12 418.10 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 436.60 418.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.21 418.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 483.15 418.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 518.08 418.10 Td (established ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 406.10 Td (or ) Tj ET Q q 0 0 0 rg BT 61.82 406.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 111.90 406.10 Td (determined.��) Tj ET Q q 0 0 0 rg BT 164.20 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 172.84 406.10 Td (e ) Tj ET Q q 0 0 0 rg BT 181.26 406.10 Td (review ) Tj ET Q q 0 0 0 rg BT 212.46 406.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.66 406.10 Td (excluded ) Tj ET Q q 0 0 0 rg BT 268.74 406.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 312.71 406.10 Td (for ) Tj ET Q q 0 0 0 rg BT 328.35 406.10 Td (impairment ) Tj ET Q q 0 0 0 rg BT 378.44 406.10 Td (at ) Tj ET Q q 0 0 0 rg BT 389.64 406.10 Td (lea) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 401.30 413.03 163.70 -9.09 re f /GS0 gs q 0 0 0 rg BT 401.30 406.10 Td (st ) Tj ET Q q 0 0 0 rg BT 411.95 406.10 Td (annually) Tj ET Q q 0 0 0 rg BT 445.74 406.10 Td (.��) Tj ET Q q 0 0 0 rg BT 453.06 406.10 Td (W) Tj ET Q q 0 0 0 rg BT 461.69 406.10 Td (e ) Tj ET Q q 0 0 0 rg BT 470.12 406.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 510.20 406.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 547.50 406.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 49.50 401.03 515.52 -9.09 re f /GS0 gs q 0 0 0 rg BT 49.50 394.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 93.47 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 104.12 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.66 394.10 Td (majority ) Tj ET Q q 0 0 0 rg BT 154.86 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 165.51 394.10 Td (these ) Tj ET Q q 0 0 0 rg BT 188.38 394.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 230.69 394.10 Td (and ) Tj ET Q q 0 0 0 rg BT 247.45 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.98 394.10 Td (inclusion ) Tj ET Q q 0 0 0 rg BT 300.97 394.10 Td (of ) Tj ET Q q 0 0 0 rg BT 311.62 394.10 Td (their ) Tj ET Q q 0 0 0 rg BT 332.27 394.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 354.59 394.10 Td (in ) Tj ET Q q 0 0 0 rg BT 364.69 394.10 Td (the ) Tj ET Q q 0 0 0 rg BT 379.22 394.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 432.08 394.10 Td (base ) Tj ET Q q 0 0 0 rg BT 452.17 394.10 Td (is ) Tj ET Q q 0 0 0 rg BT 461.16 394.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 499.02 394.10 Td (to ) Tj ET Q q 0 0 0 rg BT 509.11 394.10 Td (be ) Tj ET Q q 0 0 0 rg BT 520.87 394.10 Td (completed ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 49.50 389.03 28.01 -9.09 re f /GS0 gs q 0 0 0 rg BT 49.50 382.10 Td (within ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 77.51 389.03 15.55 -9.09 re f /GS0 gs q 0 0 0 rg BT 77.51 382.10 Td (five) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 93.06 389.03 12.69 -9.09 re f /GS0 gs q 0 0 0 rg BT 93.06 382.10 Td ( ) Tj ET Q q 0 0 0 rg BT 95.52 382.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 105.75 389.03 12.22 -9.09 re f /GS0 gs q 0 0 0 rg BT 105.75 382.10 Td (ten) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 117.97 389.03 23.55 -9.09 re f /GS0 gs q 0 0 0 rg BT 117.97 382.10 Td ( ) Tj ET Q q 0 0 0 rg BT 120.42 382.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 141.52 382.10 Td (.� ) Tj ET Q q 0 0 0 rg BT 148.98 382.10 Td (Until ) Tj ET Q q 0 0 0 rg BT 171.99 382.10 Td (we ) Tj ET Q q 0 0 0 rg BT 186.11 382.10 Td (are ) Tj ET Q q 0 0 0 rg BT 200.77 382.10 Td (able ) Tj ET Q q 0 0 0 rg BT 219.88 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 230.12 382.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 272.55 382.10 Td (whether ) Tj ET Q q 0 0 0 rg BT 307.21 382.10 Td (there ) Tj ET Q q 0 0 0 rg BT 329.66 382.10 Td (are ) Tj ET Q q 0 0 0 rg BT 344.32 382.10 Td (any ) Tj ET Q q 0 0 0 rg BT 361.21 382.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 391.44 382.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 426.65 382.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 474.65 382.10 Td (to ) Tj ET Q q 0 0 0 rg BT 484.88 382.10 Td (the ) Tj ET Q q 0 0 0 rg BT 499.55 382.10 Td (above ) Tj ET Q q 0 0 0 rg BT 525.89 382.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 550.84 382.10 Td (we ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 370.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.21 370.10 Td (not ) Tj ET Q q 0 0 0 rg BT 79.49 370.10 Td (able ) Tj ET Q q 0 0 0 rg BT 98.64 370.10 Td (to ) Tj ET Q q 0 0 0 rg BT 108.92 370.10 Td (assess ) Tj ET Q q 0 0 0 rg BT 135.86 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 150.58 370.10 Td (future ) Tj ET Q q 0 0 0 rg BT 176.96 370.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 206.67 370.10 Td (on ) Tj ET Q q 0 0 0 rg BT 219.17 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 233.88 370.10 Td (amortization ) Tj ET Q q 0 0 0 rg BT 286.92 370.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 304.41 370.10 Td (of ) Tj ET Q q 0 0 0 rg BT 315.24 370.10 Td (the ) Tj ET Q q 0 0 0 rg BT 329.95 370.10 Td (full ) Tj ET Q q 0 0 0 rg BT 346.34 370.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 364.95 370.10 Td (pool.) 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544.65 353.25 Td ( ) Tj ET Q q 0 0 0 rg BT 546.97 353.25 Td (Our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 341.25 Td (current ) Tj ET Q q 0 0 0 rg BT 98.49 341.25 Td (maturities ) Tj ET Q q 0 0 0 rg BT 141.16 341.25 Td (of ) Tj ET Q q 0 0 0 rg BT 152.17 341.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 194.28 341.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 214.18 341.25 Td (as ) Tj ET Q q 0 0 0 rg BT 225.19 341.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.19 341.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 294.96 341.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.96 341.25 Td ( ) Tj ET Q q 0 0 0 rg BT 317.63 341.25 Td (include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.75 341.25 Td ($85.3 ) Tj ET Q q 0 0 0 rg BT 374.92 341.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.82 341.25 Td ( ) Tj ET Q q 0 0 0 rg BT 406.49 341.25 Td (of ) Tj ET Q q 0 0 0 rg BT 417.50 341.25 Td (future ) Tj ET Q q 0 0 0 rg BT 444.06 341.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 476.17 341.25 Td (payable ) Tj ET Q q 0 0 0 rg BT 509.94 341.25 Td (related ) Tj ET Q q 0 0 0 rg BT 539.82 341.25 Td (to ) Tj ET Q q 0 0 0 rg BT 550.28 341.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 329.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 90.52 329.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 119.65 329.25 Td (Secured ) Tj ET Q q 0 0 0 rg BT 154.87 329.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 181.22 329.25 Td (and ) Tj ET Q q 0 0 0 rg BT 198.68 329.25 Td (2022 ) Tj ET Q q 0 0 0 rg BT 221.70 329.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 250.83 329.25 Td (Secured ) Tj ET Q q 0 0 0 rg BT 286.05 329.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 312.40 329.25 Td (that ) Tj ET Q q 0 0 0 rg BT 330.42 329.25 Td (is ) Tj ET Q q 0 0 0 rg BT 340.10 329.25 Td (due ) Tj ET Q q 0 0 0 rg BT 357.56 329.25 Td (within ) Tj ET Q q 0 0 0 rg BT 386.14 329.25 Td (the ) Tj ET Q q 0 0 0 rg BT 401.37 329.25 Td (next ) Tj ET Q q 0 0 0 rg BT 421.61 329.25 Td (twelve ) Tj ET Q q 0 0 0 rg BT 451.28 329.25 Td (months. ) Tj ET Q q 0 0 0 rg BT 486.25 329.25 Td ( ) Tj ET Q q 0 0 0 rg BT 489.27 329.25 Td (See ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 506.73 329.25 Td (January ) Tj ET Q q 0 0 0 rg BT 542.51 329.25 Td (2018 ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 317.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 96.11 317.25 Td (Subor) Tj ET Q q 0 0 0 rg BT 119.63 317.25 Td (dinated ) Tj ET Q q 0 0 0 rg BT 152.12 317.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 173.51 317.25 Td (Exchanges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.83 317.25 Td ( ) Tj ET Q q 0 0 0 rg BT 219.33 317.25 Td (and ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 236.26 317.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 258.76 317.25 Td (Senior ) Tj ET Q q 0 0 0 rg BT 287.37 317.25 Td (Subor) Tj ET Q q 0 0 0 rg BT 310.89 317.25 Td (dinated ) Tj ET Q q 0 0 0 rg BT 343.39 317.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 364.78 317.25 Td (Exchanges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.59 317.25 Td (below ) Tj ET Q q 0 0 0 rg BT 437.53 317.25 Td (for ) Tj ET Q q 0 0 0 rg BT 451.69 317.25 Td (further ) Tj ET Q q 0 0 0 rg BT 481.40 317.25 Td (discussion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 293.25 Td (The ) Tj ET Q q 0 0 0 rg BT 86.40 293.25 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 122.53 293.25 Td (parent ) Tj ET Q q 0 0 0 rg BT 150.87 293.25 Td (company ) Tj ET Q q 0 0 0 rg BT 190.88 293.25 Td (in ) Tj ET Q q 0 0 0 rg BT 202.02 293.25 Td (our ) Tj ET Q q 0 0 0 rg BT 218.71 293.25 Td (corporate ) Tj ET Q q 0 0 0 rg BT 259.82 293.25 Td (structure, ) Tj ET Q q 0 0 0 rg BT 300.66 293.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 339.01 293.25 Td (Resources ) Tj ET Q q 0 0 0 rg BT 383.46 293.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 402.09 293.25 Td (\(�DRI�\), ) Tj ET Q q 0 0 0 rg BT 440.70 293.25 Td (is ) Tj ET Q q 0 0 0 rg BT 450.73 293.25 Td (the ) Tj ET Q q 0 0 0 rg BT 466.30 293.25 Td (sole ) Tj ET Q q 0 0 0 rg BT 485.77 293.25 Td (issuer ) Tj ET Q q 0 0 0 rg BT 512.46 293.25 Td (of ) Tj ET Q q 0 0 0 rg BT 524.14 293.25 Td (all ) Tj ET Q q 0 0 0 rg BT 537.50 293.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.18 293.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 98.85 281.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 125.98 281.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 159.21 281.25 Td (and ) Tj ET Q q 0 0 0 rg BT 176.34 281.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 203.46 281.25 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 257.81 281.25 Td (notes.��DRI ) Tj ET Q q 0 0 0 rg BT 306.33 281.25 Td (has ) Tj ET Q q 0 0 0 rg BT 322.35 281.25 Td (no ) Tj ET Q q 0 0 0 rg BT 335.04 281.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 386.60 281.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 412.62 281.25 Td (or ) Tj ET Q q 0 0 0 rg BT 423.64 281.25 Td (operations.��Each ) Tj ET Q q 0 0 0 rg BT 495.47 281.25 Td (of ) Tj ET Q q 0 0 0 rg BT 506.49 281.25 Td (the ) Tj ET Q q 0 0 0 rg BT 521.39 281.25 Td (subsidiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.25 Td (guarantors ) Tj ET Q q 0 0 0 rg BT 94.02 269.25 Td (of ) Tj ET Q q 0 0 0 rg BT 104.66 269.25 Td (such ) Tj ET Q q 0 0 0 rg BT 125.30 269.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 148.72 269.25 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.70 269.25 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.03 269.25 Td ( ) Tj ET Q q 0 0 0 rg BT 183.34 269.25 Td (owned, ) Tj ET Q q 0 0 0 rg BT 214.81 269.25 Td (directly ) Tj ET Q q 0 0 0 rg BT 247.67 269.25 Td (or ) Tj ET Q q 0 0 0 rg BT 258.31 269.25 Td (indirectly) Tj ET Q q 0 0 0 rg BT 295.98 269.25 Td (, ) Tj ET Q q 0 0 0 rg BT 300.79 269.25 Td (by ) Tj ET Q q 0 0 0 rg BT 313.10 269.25 Td (DRI, ) Tj ET Q q 0 0 0 rg BT 335.13 269.25 Td (and ) Tj ET Q q 0 0 0 rg BT 351.88 269.25 Td (the ) Tj ET Q q 0 0 0 rg BT 366.41 269.25 Td (guarantees ) Tj ET Q q 0 0 0 rg BT 411.48 269.25 Td (of ) Tj ET Q q 0 0 0 rg BT 422.12 269.25 Td (the ) Tj ET Q q 0 0 0 rg BT 436.64 269.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 460.06 269.25 Td (are ) Tj ET Q q 0 0 0 rg BT 474.58 269.25 Td (full ) Tj ET Q q 0 0 0 rg BT 490.78 269.25 Td (and ) Tj ET Q q 0 0 0 rg BT 507.53 269.25 Td (unconditional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 257.25 Td (joint ) Tj ET Q q 0 0 0 rg BT 87.27 257.25 Td (and ) Tj ET Q q 0 0 0 rg BT 104.21 257.25 Td (several; ) Tj ET Q q 0 0 0 rg BT 137.81 257.25 Td (any ) Tj ET Q q 0 0 0 rg BT 154.74 257.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 204.46 257.25 Td (of ) Tj ET Q q 0 0 0 rg BT 215.29 257.25 Td (DRI ) Tj ET Q q 0 0 0 rg BT 235.01 257.25 Td (that ) Tj ET Q q 0 0 0 rg BT 252.51 257.25 Td (are ) Tj ET Q q 0 0 0 rg BT 267.21 257.25 Td (not ) Tj ET Q q 0 0 0 rg BT 282.49 257.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 326.10 257.25 Td (guarantors ) Tj ET Q q 0 0 0 rg BT 370.81 257.25 Td (of ) Tj ET Q q 0 0 0 rg BT 381.64 257.25 Td (such ) Tj ET Q q 0 0 0 rg BT 402.47 257.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 426.08 257.25 Td (are ) Tj ET Q q 0 0 0 rg BT 440.78 257.25 Td (minor ) Tj ET Q q 0 0 0 rg BT 467.17 257.25 Td (subsidiaries.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (Senior) Tj ET Q q 0 0 0 rg BT 77.10 233.25 Td ( ) Tj ET Q q 0 0 0 rg BT 79.60 233.25 Td (Secur) Tj ET Q q 0 0 0 rg BT 103.86 233.25 Td (ed ) Tj ET Q q 0 0 0 rg BT 116.36 233.25 Td (Bank ) Tj ET Q q 0 0 0 rg BT 141.65 233.25 Td (Cr) Tj ET Q q 0 0 0 rg BT 153.13 233.25 Td (edit ) Tj ET Q q 0 0 0 rg BT 171.74 233.25 Td (Facility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 209.25 Td (In ) Tj ET Q q 0 0 0 rg BT 79.62 209.25 Td (December ) Tj ET Q q 0 0 0 rg BT 124.50 209.25 Td (2014, ) Tj ET Q q 0 0 0 rg BT 150.79 209.25 Td (we ) Tj ET Q q 0 0 0 rg BT 166.25 209.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 199.46 209.25 Td (into ) Tj ET Q q 0 0 0 rg BT 218.81 209.25 Td (an ) Tj ET Q q 0 0 0 rg BT 231.21 209.25 Td (Amended ) Tj ET Q q 0 0 0 rg BT 273.88 209.25 Td (and ) Tj ET Q q 0 0 0 rg BT 292.11 209.25 Td (Restated ) Tj ET Q q 0 0 0 rg BT 330.33 209.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 358.29 209.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 406.50 209.25 Td (with ) Tj ET Q q 0 0 0 rg BT 428.07 209.25 Td (JPMor) Tj ET Q q 0 0 0 rg BT 454.57 209.25 Td (gan ) Tj ET Q q 0 0 0 rg BT 472.80 209.25 Td (Chase ) Tj ET Q q 0 0 0 rg BT 501.03 209.25 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 528.43 209.25 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 554.17 209.25 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 108.94 197.25 Td (agent, ) Tj ET Q q 0 0 0 rg BT 135.33 197.25 Td (and ) Tj ET Q q 0 0 0 rg BT 152.00 197.25 Td (other ) Tj ET Q q 0 0 0 rg BT 174.77 197.25 Td (lenders ) Tj ET Q q 0 0 0 rg BT 205.88 197.25 Td (party ) Tj ET Q q 0 0 0 rg BT 228.66 197.25 Td (thereto ) Tj ET Q q 0 0 0 rg BT 258.66 197.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 272.55 197.25 Td (amended, ) Tj ET Q q 0 0 0 rg BT 313.37 197.25 Td (the ) Tj ET Q q 0 0 0 rg BT 327.82 197.25 Td (�Bank ) Tj ET Q q 0 0 0 rg BT 355.60 197.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 382.33 197.25 Td (Agreement�\). ) Tj ET Q q 0 0 0 rg BT 439.26 197.25 Td ( ) Tj ET Q q 0 0 0 rg BT 441.33 197.25 Td (The ) Tj ET Q q 0 0 0 rg BT 459.10 197.25 Td (Bank ) Tj ET Q q 0 0 0 rg BT 482.44 197.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 509.18 197.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 555.83 197.25 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.25 Td (a ) Tj ET Q q 0 0 0 rg BT 56.62 185.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 83.73 185.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 116.95 185.25 Td (revolving ) Tj ET Q q 0 0 0 rg BT 157.95 185.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 183.39 185.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 214.39 185.25 Td (with ) Tj ET Q q 0 0 0 rg BT 234.85 185.25 Td (semiannual ) Tj ET Q q 0 0 0 rg BT 283.07 185.25 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 327.41 185.25 Td (base ) Tj ET Q q 0 0 0 rg BT 347.85 185.25 Td (redeterminations ) Tj ET Q q 0 0 0 rg BT 417.73 185.25 Td (in ) Tj ET Q q 0 0 0 rg BT 428.19 185.25 Td (May ) Tj ET Q q 0 0 0 rg BT 449.19 185.25 Td (and ) Tj ET Q q 0 0 0 rg BT 466.31 185.25 Td (November ) Tj ET Q q 0 0 0 rg BT 511.20 185.25 Td (of ) Tj ET Q q 0 0 0 rg BT 522.21 185.25 Td (each ) Tj ET Q q 0 0 0 rg BT 543.20 185.25 Td (year) Tj ET Q q 0 0 0 rg BT 560.01 185.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.25 Td (with ) Tj ET Q q 0 0 0 rg BT 69.33 173.25 Td (the ) Tj ET Q q 0 0 0 rg BT 83.61 173.25 Td (next ) Tj ET Q q 0 0 0 rg BT 102.88 173.25 Td (such ) Tj ET Q q 0 0 0 rg BT 123.26 173.25 Td (redetermination ) Tj ET Q q 0 0 0 rg BT 188.63 173.25 Td (being ) Tj ET Q q 0 0 0 rg BT 212.90 173.25 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 254.94 173.25 Td (for ) Tj ET Q q 0 0 0 rg BT 268.66 173.25 Td (May ) Tj ET Q q 0 0 0 rg BT 289.04 173.25 Td (2019. ) Tj ET Q q 0 0 0 rg BT 313.60 173.25 Td ( ) Tj ET Q q 0 0 0 rg BT 315.65 173.25 Td (If ) Tj ET Q q 0 0 0 rg BT 324.37 173.25 Td (our ) Tj ET Q q 0 0 0 rg BT 339.75 173.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 388.47 173.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 407.75 173.25 Td (under ) Tj ET Q q 0 0 0 rg BT 432.57 173.25 Td (the ) Tj ET Q q 0 0 0 rg BT 446.84 173.25 Td (Bank ) Tj ET Q q 0 0 0 rg BT 470.01 173.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 496.60 173.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 543.08 173.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.40 161.25 Td (ever ) Tj ET Q q 0 0 0 rg BT 80.73 161.25 Td (exceed ) Tj ET Q q 0 0 0 rg BT 111.61 161.25 Td (the ) Tj ET Q q 0 0 0 rg BT 126.95 161.25 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 171.74 161.25 Td (base, ) Tj ET Q q 0 0 0 rg BT 195.13 161.25 Td (we ) Tj ET Q q 0 0 0 rg BT 209.91 161.25 Td (would ) Tj ET Q q 0 0 0 rg BT 238.04 161.25 Td (be ) Tj ET Q q 0 0 0 rg BT 250.60 161.25 Td (required ) Tj ET Q q 0 0 0 rg BT 287.04 161.25 Td (to ) Tj ET Q q 0 0 0 rg BT 297.94 161.25 Td (repay ) Tj ET Q q 0 0 0 rg BT 323.27 161.25 Td (the ) Tj ET Q q 0 0 0 rg BT 338.61 161.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 367.84 161.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 400.96 161.25 Td (over ) Tj ET Q q 0 0 0 rg BT 421.85 161.25 Td (a ) Tj ET Q q 0 0 0 rg BT 429.41 161.25 Td (period ) Tj ET Q q 0 0 0 rg BT 458.08 161.25 Td (not ) Tj ET Q q 0 0 0 rg BT 473.98 161.25 Td (to ) Tj ET Q q 0 0 0 rg BT 484.89 161.25 Td (exceed ) Tj ET Q q 0 0 0 rg BT 515.76 161.25 Td (six ) Tj ET Q q 0 0 0 rg BT 530.56 161.25 Td (months. ) Tj ET Q q 0 0 0 rg BT 565.01 161.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.25 Td (Under ) Tj ET Q q 0 0 0 rg BT 77.10 149.25 Td (the ) Tj ET Q q 0 0 0 rg BT 91.92 149.25 Td (Bank ) Tj ET Q q 0 0 0 rg BT 115.63 149.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 142.66 149.25 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 192.18 149.25 Td (letters ) Tj ET Q q 0 0 0 rg BT 219.22 149.25 Td (of ) Tj ET Q q 0 0 0 rg BT 230.16 149.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 255.53 149.25 Td (are ) Tj ET Q q 0 0 0 rg BT 270.34 149.25 Td (available ) Tj ET Q q 0 0 0 rg BT 309.03 149.25 Td (in ) Tj ET Q q 0 0 0 rg BT 319.42 149.25 Td (an ) Tj ET Q q 0 0 0 rg BT 331.46 149.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 372.93 149.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 405.53 149.25 Td (not ) Tj ET Q q 0 0 0 rg BT 420.91 149.25 Td (to ) Tj ET Q q 0 0 0 rg BT 431.29 149.25 Td (exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 149.25 Td ($100 ) Tj ET Q q 0 0 0 rg BT 484.26 149.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.15 149.25 Td (, ) Tj ET Q q 0 0 0 rg BT 518.25 149.25 Td (which ) Tj ET Q q 0 0 0 rg BT 545.30 149.25 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.25 Td (be ) Tj ET Q q 0 0 0 rg BT 60.96 137.25 Td (increased ) Tj ET Q q 0 0 0 rg BT 100.74 137.25 Td (at ) Tj ET Q q 0 0 0 rg BT 109.99 137.25 Td (the ) Tj ET Q q 0 0 0 rg BT 124.23 137.25 Td (sole ) Tj ET Q q 0 0 0 rg BT 142.36 137.25 Td (discretion ) Tj ET Q q 0 0 0 rg BT 183.82 137.25 Td (of ) Tj ET Q q 0 0 0 rg BT 194.18 137.25 Td (the ) Tj ET Q q 0 0 0 rg BT 208.42 137.25 Td (administrative ) Tj ET Q q 0 0 0 rg BT 267.65 137.25 Td (agent, ) Tj ET Q q 0 0 0 rg BT 293.83 137.25 Td (and ) Tj ET Q q 0 0 0 rg BT 310.29 137.25 Td (short-term ) Tj ET Q q 0 0 0 rg BT 353.98 137.25 Td (swingline ) Tj ET Q q 0 0 0 rg BT 394.89 137.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 418.02 137.25 Td (are ) Tj ET Q q 0 0 0 rg BT 432.25 137.25 Td (available ) Tj ET Q q 0 0 0 rg BT 470.37 137.25 Td (in ) Tj ET Q q 0 0 0 rg BT 480.17 137.25 Td (an ) Tj ET Q q 0 0 0 rg BT 491.64 137.25 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 532.52 137.25 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.25 Td (not ) Tj ET Q q 0 0 0 rg BT 63.67 125.25 Td (to ) Tj ET Q q 0 0 0 rg BT 72.83 125.25 Td (exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.98 125.25 Td ($25 ) Tj ET Q q 0 0 0 rg BT 118.36 125.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.25 125.25 Td (, ) Tj ET Q q 0 0 0 rg BT 151.14 125.25 Td (each ) Tj ET Q q 0 0 0 rg BT 170.85 125.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 200.56 125.25 Td (to ) Tj ET Q q 0 0 0 rg BT 209.73 125.25 Td (the ) Tj ET Q q 0 0 0 rg BT 223.33 125.25 Td (available ) Tj ET Q q 0 0 0 rg BT 260.81 125.25 Td (commitments ) Tj ET Q q 0 0 0 rg BT 316.64 125.25 Td (under ) Tj ET Q q 0 0 0 rg BT 340.79 125.25 Td (the ) Tj ET Q q 0 0 0 rg BT 354.40 125.25 Td (Bank ) Tj ET Q q 0 0 0 rg BT 376.89 125.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 402.97 125.25 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 451.28 125.25 Td ( ) Tj ET Q q 0 0 0 rg BT 452.57 125.25 Td (The ) Tj ET Q q 0 0 0 rg BT 469.50 125.25 Td (Bank ) Tj ET Q q 0 0 0 rg BT 492.00 125.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 518.08 125.25 Td (Agreement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.25 Td (is ) Tj ET Q q 0 0 0 rg BT 58.39 113.25 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 104.47 113.25 Td (jointly ) Tj ET Q q 0 0 0 rg BT 132.80 113.25 Td (and ) Tj ET Q q 0 0 0 rg BT 149.46 113.25 Td (severally ) Tj ET Q q 0 0 0 rg BT 187.77 113.25 Td (by ) Tj ET Q q 0 0 0 rg BT 199.99 113.25 Td (each ) Tj ET Q q 0 0 0 rg BT 220.52 113.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 263.85 113.25 Td (of ) Tj ET Q q 0 0 0 rg BT 274.40 113.25 Td (DRI ) Tj ET Q q 0 0 0 rg BT 293.84 113.25 Td (that ) Tj ET Q q 0 0 0 rg BT 311.05 113.25 Td (is ) Tj ET Q q 0 0 0 rg BT 319.94 113.25 Td (100% ) Tj ET Q q 0 0 0 rg BT 345.49 113.25 Td (owned, ) Tj ET Q q 0 0 0 rg BT 376.86 113.25 Td (directly ) Tj ET Q q 0 0 0 rg BT 409.62 113.25 Td (or ) Tj ET Q q 0 0 0 rg BT 420.17 113.25 Td (indirectly) Tj ET Q q 0 0 0 rg BT 457.84 113.25 Td (, ) Tj ET Q q 0 0 0 rg BT 462.56 113.25 Td (by ) Tj ET Q q 0 0 0 rg BT 474.78 113.25 Td (DRI ) Tj ET Q q 0 0 0 rg BT 494.22 113.25 Td (and ) Tj ET Q q 0 0 0 rg BT 510.88 113.25 Td (is ) Tj ET Q q 0 0 0 rg BT 519.77 113.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 552.52 113.25 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 63.76 101.25 Td (a ) Tj ET Q q 0 0 0 rg BT 70.80 101.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 115.62 101.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 147.10 101.25 Td (of ) Tj ET Q q 0 0 0 rg BT 158.04 101.25 Td (our ) Tj ET Q q 0 0 0 rg BT 173.97 101.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 204.34 101.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 217.50 101.25 Td (and ) Tj ET Q q 0 0 0 rg BT 234.54 101.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 264.90 101.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 280.83 101.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 323.42 101.25 Td (held ) Tj ET Q q 0 0 0 rg BT 343.24 101.25 Td (through ) Tj ET Q q 0 0 0 rg BT 376.95 101.25 Td (DRI�) Tj ET Q q 0 0 0 rg BT 396.95 101.25 Td (s ) Tj ET Q q 0 0 0 rg BT 403.44 101.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 443.24 101.25 Td (subsidiaries; ) Tj ET Q q 0 0 0 rg BT 495.84 101.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 510.10 101.25 Td (the ) Tj ET Q q 0 0 0 rg BT 524.92 101.25 Td (pledge ) Tj ET Q q 0 0 0 rg BT 554.18 101.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.25 Td (equity ) Tj ET Q q 0 0 0 rg BT 76.24 89.25 Td (interests ) Tj ET Q q 0 0 0 rg BT 111.32 89.25 Td (of ) Tj ET Q q 0 0 0 rg BT 121.40 89.25 Td (such ) Tj ET Q q 0 0 0 rg BT 141.48 89.25 Td (subsidiaries; ) Tj ET Q q 0 0 0 rg BT 193.22 89.25 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 206.63 89.25 Td (a ) Tj ET Q q 0 0 0 rg BT 212.82 89.25 Td (pledge ) Tj ET Q q 0 0 0 rg BT 241.23 89.25 Td (of ) Tj ET Q q 0 0 0 rg BT 251.31 89.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 298.61 89.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 340.34 89.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 387.62 89.25 Td (of ) Tj ET Q q 0 0 0 rg BT 397.70 89.25 Td (DRI ) Tj ET Q q 0 0 0 rg BT 416.67 89.25 Td (and ) Tj ET Q q 0 0 0 rg BT 432.86 89.25 Td (such ) Tj ET Q q 0 0 0 rg BT 452.94 89.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 501.90 89.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 515.31 89.25 Td (applicable\); ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 77.25 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 80.60 77.25 Td (a ) Tj ET Q q 0 0 0 rg BT 87.54 77.25 Td (pledge ) Tj ET Q q 0 0 0 rg BT 116.69 77.25 Td (of ) Tj ET Q q 0 0 0 rg BT 127.52 77.25 Td (deposit ) Tj ET Q q 0 0 0 rg BT 158.91 77.25 Td (accounts, ) Tj ET Q q 0 0 0 rg BT 198.89 77.25 Td (securities ) Tj ET Q q 0 0 0 rg BT 239.16 77.25 Td (accounts ) Tj ET Q q 0 0 0 rg BT 276.64 77.25 Td (and ) Tj ET Q q 0 0 0 rg BT 293.58 77.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 341.63 77.25 Td (accounts ) Tj ET Q q 0 0 0 rg BT 379.12 77.25 Td (of ) Tj ET Q q 0 0 0 rg BT 389.95 77.25 Td (DRI ) Tj ET Q q 0 0 0 rg BT 409.67 77.25 Td (and ) Tj ET Q q 0 0 0 rg BT 426.61 77.25 Td (such ) Tj ET Q q 0 0 0 rg BT 447.44 77.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 497.16 77.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 511.32 77.25 Td (applicable\).) Tj ET Q endstream endobj 163 0 obj <> endobj 164 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.99 713.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 110.04 713.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 137.33 713.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 184.70 713.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 210.43 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 226.70 713.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 255.20 713.10 Td (to, ) Tj ET Q q 0 0 0 rg BT 268.42 713.10 Td (among ) Tj ET Q q 0 0 0 rg BT 298.58 713.10 Td (other ) Tj ET Q q 0 0 0 rg BT 322.07 713.10 Td (things, ) Tj ET Q q 0 0 0 rg BT 351.97 713.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 375.46 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 392.84 713.10 Td (repay ) Tj ET Q q 0 0 0 rg BT 417.99 713.10 Td (indebtedness; ) Tj ET Q q 0 0 0 rg BT 475.37 713.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 498.86 713.10 Td (liens; ) Tj ET Q q 0 0 0 rg BT 523.47 713.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 554.73 713.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 78.88 701.10 Td (mer) Tj ET Q q 0 0 0 rg BT 94.25 701.10 Td (gers, ) Tj ET Q q 0 0 0 rg BT 115.59 701.10 Td (consolidations, ) Tj ET Q q 0 0 0 rg BT 178.05 701.10 Td (liquidations ) Tj ET Q q 0 0 0 rg BT 227.45 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 244.08 701.10 Td (dissolutions; ) Tj ET Q q 0 0 0 rg BT 296.82 701.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 327.32 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 337.28 701.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 358.90 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.42 701.10 Td (assets; ) Tj ET Q q 0 0 0 rg BT 397.71 701.10 Td (make ) Tj ET Q q 0 0 0 rg BT 421.55 701.10 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 471.50 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 488.12 701.10 Td (investments; ) Tj ET Q q 0 0 0 rg BT 540.86 701.10 Td (make ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (distributions ) Tj ET Q q 0 0 0 rg BT 102.00 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 118.94 689.10 Td (dividends; ) Tj ET Q q 0 0 0 rg BT 163.11 689.10 Td (and ) Tj ET Q q 0 0 0 rg BT 180.05 689.10 Td (enter ) Tj ET Q q 0 0 0 rg BT 202.53 689.10 Td (into ) Tj ET Q q 0 0 0 rg BT 220.59 689.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 268.64 689.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 311.12 689.10 Td (agreements, ) Tj ET Q q 0 0 0 rg BT 361.65 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 371.93 689.10 Td (each ) Tj ET Q q 0 0 0 rg BT 392.75 689.10 Td (case ) Tj ET Q q 0 0 0 rg BT 412.45 689.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 443.28 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 453.56 689.10 Td (customary ) Tj ET Q q 0 0 0 rg BT 497.71 689.10 Td (exceptions.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 665.10 Td (In ) Tj ET Q q 0 0 0 rg BT 77.76 665.10 Td (August ) Tj ET Q q 0 0 0 rg BT 109.12 665.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 134.10 665.10 Td (we ) Tj ET Q q 0 0 0 rg BT 148.23 665.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 180.13 665.10 Td (into ) Tj ET Q q 0 0 0 rg BT 198.16 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 212.85 665.10 Td (Sixth ) Tj ET Q q 0 0 0 rg BT 235.89 665.10 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 287.80 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 298.05 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 312.74 665.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 336.32 665.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 363.24 665.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 410.14 665.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 428.16 665.10 Td (�Sixth ) Tj ET Q q 0 0 0 rg BT 455.64 665.10 Td (Amendment�\), ) Tj ET Q q 0 0 0 rg BT 517.82 665.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 554.73 665.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.44 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 91.16 653.10 Td (following ) Tj ET Q q 0 0 0 rg BT 132.54 653.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 167.25 653.10 Td (were ) Tj ET Q q 0 0 0 rg BT 189.18 653.10 Td (made ) Tj ET Q q 0 0 0 rg BT 213.33 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 223.61 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.33 653.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 261.94 653.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 288.88 653.10 Td (Agreement: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 629.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 629.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.13 629.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 139.10 629.10 Td (date ) Tj ET Q q 0 0 0 rg BT 157.85 629.10 Td (was ) Tj ET Q q 0 0 0 rg BT 175.49 629.10 Td (extended ) Tj ET Q q 0 0 0 rg BT 213.67 629.10 Td (from ) Tj ET Q q 0 0 0 rg BT 235.19 629.10 Td (December ) Tj ET Q q 0 0 0 rg BT 278.36 629.10 Td (9, ) Tj ET Q q 0 0 0 rg BT 287.95 629.10 Td (2019 ) Tj ET Q q 0 0 0 rg BT 310.04 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 319.90 629.10 Td (December ) Tj ET Q q 0 0 0 rg BT 363.08 629.10 Td (9, ) Tj ET Q q 0 0 0 rg BT 372.66 629.10 Td (2021, ) Tj ET Q q 0 0 0 rg BT 397.25 629.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 434.88 629.10 Td (that ) Tj ET Q q 0 0 0 rg BT 451.97 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 466.27 629.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 502.24 629.10 Td (date ) Tj ET Q q 0 0 0 rg BT 520.98 629.10 Td (may ) Tj ET Q q 0 0 0 rg BT 540.29 629.10 Td (occur ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 617.10 Td (earlier ) Tj ET Q q 0 0 0 rg BT 114.03 617.10 Td (\(between ) Tj ET Q q 0 0 0 rg BT 153.67 617.10 Td (February ) Tj ET Q q 0 0 0 rg BT 192.77 617.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 215.76 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 232.54 617.10 Td (August ) Tj ET Q q 0 0 0 rg BT 264.43 617.10 Td (2021\) ) Tj ET Q q 0 0 0 rg BT 290.75 617.10 Td (if ) Tj ET Q q 0 0 0 rg BT 299.86 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 315.07 617.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 338.07 617.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 367.18 617.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 402.38 617.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 428.71 617.10 Td (due ) Tj ET Q q 0 0 0 rg BT 446.14 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 456.92 617.10 Td (May ) Tj ET Q q 0 0 0 rg BT 478.25 617.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 501.24 617.10 Td (or ) Tj ET Q q 0 0 0 rg BT 512.57 617.10 Td (6) Tj ET Q /GS0 gs q 7.50 0 0 10.09 517.57 614.94 cm /I27 Do Q q 0 0 0 rg BT 525.07 617.10 Td (% ) Tj ET Q q 0 0 0 rg BT 536.40 617.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 605.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 140.60 605.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 165.71 605.10 Td (due ) Tj ET Q q 0 0 0 rg BT 181.93 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 191.09 605.10 Td (August ) Tj ET Q q 0 0 0 rg BT 221.76 605.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 243.54 605.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 260.86 605.10 Td (�2021 ) Tj ET Q q 0 0 0 rg BT 287.08 605.10 Td (Notes�\) ) Tj ET Q q 0 0 0 rg BT 319.95 605.10 Td (are ) Tj ET Q q 0 0 0 rg BT 333.94 605.10 Td (not ) Tj ET Q q 0 0 0 rg BT 348.49 605.10 Td (repaid ) Tj ET Q q 0 0 0 rg BT 375.25 605.10 Td (or ) Tj ET Q q 0 0 0 rg BT 385.36 605.10 Td (refinanced ) Tj ET Q q 0 0 0 rg BT 429.33 605.10 Td (by ) Tj ET Q q 0 0 0 rg BT 441.11 605.10 Td (their ) Tj ET Q q 0 0 0 rg BT 461.21 605.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 503.52 605.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 539.18 605.10 Td (dates;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 593.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 593.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.08 593.10 Td (borrowing ) Tj ET Q q 0 0 0 rg BT 146.78 593.10 Td (base ) Tj ET Q q 0 0 0 rg BT 166.58 593.10 Td (and ) Tj ET Q q 0 0 0 rg BT 183.06 593.10 Td (total ) Tj ET Q q 0 0 0 rg BT 202.87 593.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 259.34 593.10 Td (were ) Tj ET Q q 0 0 0 rg BT 280.81 593.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 314.49 593.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.96 593.10 Td ($1.05 ) Tj ET Q q 0 0 0 rg BT 360.50 593.10 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.61 593.10 Td ( ) Tj ET Q q 0 0 0 rg BT 388.65 593.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.46 593.10 Td ($615 ) Tj ET Q q 0 0 0 rg BT 420.50 593.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.39 593.10 Td ( ) Tj ET Q q 0 0 0 rg BT 451.43 593.10 Td (while ) Tj ET Q q 0 0 0 rg BT 475.68 593.10 Td (streamlining ) Tj ET Q q 0 0 0 rg BT 527.71 593.10 Td (our ) Tj ET Q q 0 0 0 rg BT 543.07 593.10 Td (bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 581.10 Td (group ) Tj ET Q q 0 0 0 rg BT 111.33 581.10 Td (from ) Tj ET Q q 0 0 0 rg BT 133.27 581.10 Td (24 ) Tj ET Q q 0 0 0 rg BT 145.77 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 156.05 581.10 Td (14 ) Tj ET Q q 0 0 0 rg BT 168.55 581.10 Td (banks;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 569.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 569.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.18 569.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 135.31 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 145.77 569.10 Td (junior ) Tj ET Q q 0 0 0 rg BT 171.79 569.10 Td (lien ) Tj ET Q q 0 0 0 rg BT 188.92 569.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 208.27 569.10 Td (we ) Tj ET Q q 0 0 0 rg BT 222.07 569.10 Td (can ) Tj ET Q q 0 0 0 rg BT 238.08 569.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 260.76 569.10 Td (was ) Tj ET Q q 0 0 0 rg BT 278.44 569.10 Td (increased ) Tj ET Q q 0 0 0 rg BT 318.33 569.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.90 569.10 Td ($1.2 ) Tj ET Q q 0 0 0 rg BT 359.54 569.10 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.65 569.10 Td ( ) Tj ET Q q 0 0 0 rg BT 387.79 569.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.70 569.10 Td ($1.65 ) Tj ET Q q 0 0 0 rg BT 422.33 569.10 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.44 569.10 Td ( ) Tj ET Q q 0 0 0 rg BT 450.58 569.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 499.38 569.10 Td (in ) Tj ET Q q 0 0 0 rg BT 509.29 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.64 569.10 Td (aggregate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 557.10 Td (at ) Tj ET Q q 0 0 0 rg BT 95.22 557.10 Td (any ) Tj ET Q q 0 0 0 rg BT 112.16 557.10 Td (one ) Tj ET Q q 0 0 0 rg BT 129.09 557.10 Td (time; ) Tj ET Q q 0 0 0 rg BT 152.15 557.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 545.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 545.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.17 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 95.38 545.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 151.13 545.10 Td (T) Tj ET Q q 0 0 0 rg BT 156.54 545.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 174.75 545.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 197.40 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 208.39 545.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 264.38 545.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 311.47 545.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 349.66 545.10 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 403.40 545.10 Td (covenant ) Tj ET Q q 0 0 0 rg BT 442.71 545.10 Td (was ) Tj ET Q q 0 0 0 rg BT 461.47 545.10 Td (added ) Tj ET Q q 0 0 0 rg BT 488.56 545.10 Td (with ) Tj ET Q q 0 0 0 rg BT 509.55 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 517.20 545.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 538.74 545.10 Td (not ) Tj ET Q q 0 0 0 rg BT 554.73 545.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 533.10 Td (exceed�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.75 533.10 Td (5.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.25 533.10 Td (�to ) Tj ET Q q 0 0 0 rg BT 146.03 533.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 161.03 533.10 Td (through ) Tj ET Q q 0 0 0 rg BT 194.64 533.10 Td (December ) Tj ET Q q 0 0 0 rg BT 238.22 533.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 253.22 533.10 Td (2020, ) Tj ET Q q 0 0 0 rg BT 278.22 533.10 Td (and�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.16 533.10 Td (4.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.66 533.10 Td (�to ) Tj ET Q q 0 0 0 rg BT 325.44 533.10 Td (1.0 ) Tj ET Q q 0 0 0 rg BT 340.44 533.10 Td (thereafter ) Tj ET Q q 0 0 0 rg BT 381.24 533.10 Td (through ) Tj ET Q q 0 0 0 rg BT 414.85 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.57 533.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 465.95 533.10 Td (date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 509.10 Td (At ) Tj ET Q q 0 0 0 rg BT 80.18 509.10 Td (December ) Tj ET Q q 0 0 0 rg BT 123.94 509.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 139.12 509.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 164.30 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 174.75 509.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 210.21 509.10 Td (to ) Tj ET Q q 0 0 0 rg BT 220.66 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.56 509.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 290.81 509.10 Td (T) Tj ET Q q 0 0 0 rg BT 296.23 509.10 Td (otal ) Tj ET Q q 0 0 0 rg BT 313.90 509.10 Td (Debt ) Tj ET Q q 0 0 0 rg BT 336.02 509.10 Td (to ) Tj ET Q q 0 0 0 rg BT 346.47 509.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 401.92 509.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 448.48 509.10 Td (covenant ) Tj ET Q q 0 0 0 rg BT 487.26 509.10 Td (added ) Tj ET Q q 0 0 0 rg BT 513.81 509.10 Td (by ) Tj ET Q q 0 0 0 rg BT 526.49 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.38 509.10 Td (Sixth ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (Amendment, ) Tj ET Q q 0 0 0 rg BT 104.44 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 119.66 497.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 143.77 497.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 171.10 497.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 218.53 497.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 254.86 497.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 285.06 497.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 323.05 497.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 376.57 497.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 419.56 497.10 Td (through ) Tj ET Q q 0 0 0 rg BT 453.67 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 468.89 497.10 Td (maturity ) Tj ET Q q 0 0 0 rg BT 505.78 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 517.11 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.33 497.10 Td (facility) Tj ET Q q 0 0 0 rg BT 560.00 497.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (including ) Tj ET Q q 0 0 0 rg BT 89.77 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 104.49 485.10 Td (following:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 461.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 461.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.17 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 93.68 461.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 145.72 461.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 171.67 461.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 203.71 461.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 222.43 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 231.71 461.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 283.76 461.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 329.15 461.10 Td (covenant, ) Tj ET Q q 0 0 0 rg BT 369.25 461.10 Td (with ) Tj ET Q q 0 0 0 rg BT 388.53 461.10 Td (such ) Tj ET Q q 0 0 0 rg BT 408.37 461.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 428.20 461.10 Td (not ) Tj ET Q q 0 0 0 rg BT 442.48 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 451.77 461.10 Td (exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.02 461.10 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 493.52 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 495.03 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 504.31 461.10 Td (1.0. ) Tj ET Q q 0 0 0 rg BT 520.82 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 522.32 461.10 Td (Currently) Tj ET Q q 0 0 0 rg BT 560.00 461.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 449.10 Td (only ) Tj ET Q q 0 0 0 rg BT 105.78 449.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 125.50 449.10 Td (under ) Tj ET Q q 0 0 0 rg BT 150.76 449.10 Td (our ) Tj ET Q q 0 0 0 rg BT 166.59 449.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 190.20 449.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 217.15 449.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 264.07 449.10 Td (is ) Tj ET Q q 0 0 0 rg BT 273.24 449.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 319.05 449.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 372.10 449.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 399.04 449.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 432.07 449.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 451.79 449.10 Td (for ) Tj ET Q q 0 0 0 rg BT 465.95 449.10 Td (purposes ) Tj ET Q q 0 0 0 rg BT 504.00 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 514.83 449.10 Td (this ) Tj ET Q q 0 0 0 rg BT 531.78 449.10 Td (ratio;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 437.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 437.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.17 437.10 Td ( ) Tj ET Q q 0 0 0 rg BT 94.67 437.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 136.06 437.10 Td (permitted ) Tj ET Q q 0 0 0 rg BT 176.88 437.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 197.71 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 208.54 437.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 261.58 437.10 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 307.96 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 318.24 437.10 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 371.28 437.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 403.21 437.10 Td (char) Tj ET Q q 0 0 0 rg BT 420.24 437.10 Td (ges ) Tj ET Q q 0 0 0 rg BT 436.07 437.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.90 437.10 Td (1.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.40 437.10 Td ( ) Tj ET Q q 0 0 0 rg BT 466.90 437.10 Td (to ) Tj ET Q q 0 0 0 rg BT 477.18 437.10 Td (1.0; ) Tj ET Q q 0 0 0 rg BT 494.96 437.10 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 425.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 425.10 Td (A) Tj ET Q q 0 0 0 rg BT 92.17 425.10 Td ( ) Tj ET Q q 0 0 0 rg BT 94.67 425.10 Td (requirement ) Tj ET Q q 0 0 0 rg BT 145.48 425.10 Td (to ) Tj ET Q q 0 0 0 rg BT 155.76 425.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 193.25 425.10 Td (a ) Tj ET Q q 0 0 0 rg BT 200.19 425.10 Td (current ) Tj ET Q q 0 0 0 rg BT 231.00 425.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 251.83 425.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 262.66 425.10 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.16 425.10 Td ( ) Tj ET Q q 0 0 0 rg BT 277.66 425.10 Td (to ) Tj ET Q q 0 0 0 rg BT 287.94 425.10 Td (1.0.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 401.10 Td (As ) Tj ET Q q 0 0 0 rg BT 80.68 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 91.08 401.10 Td (December ) Tj ET Q q 0 0 0 rg BT 134.23 401.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 148.79 401.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 173.36 401.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 187.09 401.10 Td (loans ) Tj ET Q q 0 0 0 rg BT 210.26 401.10 Td (under ) Tj ET Q q 0 0 0 rg BT 235.10 401.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.38 401.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 272.56 401.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 299.16 401.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 345.65 401.10 Td (were ) Tj ET Q q 0 0 0 rg BT 367.15 401.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 397.54 401.10 Td (to ) Tj ET Q q 0 0 0 rg BT 407.39 401.10 Td (varying ) Tj ET Q q 0 0 0 rg BT 440.00 401.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 460.95 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.34 401.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 502.84 401.10 Td (based ) Tj ET Q q 0 0 0 rg BT 527.68 401.10 Td (on ) Tj ET Q q 0 0 0 rg BT 539.75 401.10 Td (either ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (\(a\)�for ) Tj ET Q q 0 0 0 rg BT 76.39 389.10 Td (ABR ) Tj ET Q q 0 0 0 rg BT 99.05 389.10 Td (Loans, ) Tj ET Q q 0 0 0 rg BT 128.09 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 134.62 389.10 Td (base ) Tj ET Q q 0 0 0 rg BT 154.49 389.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 171.57 389.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 218.65 389.10 Td (under ) Tj ET Q q 0 0 0 rg BT 243.51 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 257.83 389.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 281.03 389.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 307.66 389.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 354.18 389.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 371.83 389.10 Td (�ABR�\) ) Tj ET Q q 0 0 0 rg BT 406.69 389.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 425.46 389.10 Td (an ) Tj ET Q q 0 0 0 rg BT 437.00 389.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 480.18 389.10 Td (mar) Tj ET Q q 0 0 0 rg BT 495.55 389.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 510.42 389.10 Td (ranging ) Tj ET Q q 0 0 0 rg BT 543.07 389.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (1.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.33 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.50 377.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.45 377.10 Td (2.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.28 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.45 377.10 Td (per ) Tj ET Q q 0 0 0 rg BT 130.39 377.10 Td (annum, ) Tj ET Q q 0 0 0 rg BT 162.28 377.10 Td (or ) Tj ET Q q 0 0 0 rg BT 172.78 377.10 Td (\(b\) ) Tj ET Q q 0 0 0 rg BT 186.61 377.10 Td (for ) Tj ET Q q 0 0 0 rg BT 200.44 377.10 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 232.61 377.10 Td (Loans, ) Tj ET Q q 0 0 0 rg BT 261.72 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 276.10 377.10 Td (LIBOR ) Tj ET Q q 0 0 0 rg BT 308.27 377.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 325.43 377.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 344.27 377.10 Td (an ) Tj ET Q q 0 0 0 rg BT 355.88 377.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 399.14 377.10 Td (mar) Tj ET Q q 0 0 0 rg BT 414.50 377.10 Td (gin ) Tj ET Q q 0 0 0 rg BT 429.45 377.10 Td (ranging ) Tj ET Q q 0 0 0 rg BT 462.17 377.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 483.78 377.10 Td (2.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 509.61 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 511.78 377.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.73 377.10 Td (3.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 547.56 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 549.73 377.10 Td (per ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (annum ) Tj ET Q q 0 0 0 rg BT 77.98 365.10 Td (\(capitalized ) Tj ET Q q 0 0 0 rg BT 125.88 365.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 149.36 365.10 Td (as ) Tj ET Q q 0 0 0 rg BT 158.96 365.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 190.21 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 199.25 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 212.73 365.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 235.11 365.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 261.09 365.10 Td (Agreement\) ) Tj ET Q q 0 0 0 rg BT 310.10 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 325.81 365.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 338.73 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 352.21 365.10 Td (undrawn ) Tj ET Q q 0 0 0 rg BT 388.47 365.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 418.62 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 428.21 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 441.70 365.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 481.82 365.10 Td (lender ) Tj ET Q q 0 0 0 rg BT 508.07 365.10 Td (commitments ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (under ) Tj ET Q q 0 0 0 rg BT 74.76 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 89.47 353.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 113.06 353.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 140.00 353.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 186.91 353.10 Td (was ) Tj ET Q q 0 0 0 rg BT 204.96 353.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 235.77 353.10 Td (to ) Tj ET Q q 0 0 0 rg BT 246.04 353.10 Td (a ) Tj ET Q q 0 0 0 rg BT 252.97 353.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 306.01 353.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 320.70 353.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 331.52 353.10 Td (0.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.35 353.10 Td (. ) Tj ET Q q 0 0 0 rg BT 362.34 353.10 Td ( ) Tj ET Q q 0 0 0 rg BT 364.28 353.10 Td (As ) Tj ET Q q 0 0 0 rg BT 377.89 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 388.71 353.10 Td (December ) Tj ET Q q 0 0 0 rg BT 432.28 353.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 447.27 353.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 472.26 353.10 Td (we ) Tj ET Q q 0 0 0 rg BT 486.41 353.10 Td (had ) Tj ET Q q 0 0 0 rg BT 503.34 353.10 Td (no ) Tj ET Q q 0 0 0 rg BT 515.83 353.10 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 97.14 341.10 Td (and ) Tj ET Q q 0 0 0 rg BT 113.66 341.10 Td (were ) Tj ET Q q 0 0 0 rg BT 135.18 341.10 Td (in ) Tj ET Q q 0 0 0 rg BT 145.04 341.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 193.22 341.10 Td (with ) Tj ET Q q 0 0 0 rg BT 213.08 341.10 Td (all ) Tj ET Q q 0 0 0 rg BT 225.16 341.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 244.47 341.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 286.54 341.10 Td (under ) Tj ET Q q 0 0 0 rg BT 311.39 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 325.70 341.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 348.89 341.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 375.51 341.10 Td (Agreement. ) Tj ET Q q 0 0 0 rg BT 424.52 341.10 Td ( ) Tj ET Q q 0 0 0 rg BT 426.46 341.10 Td (The ) Tj ET Q q 0 0 0 rg BT 444.09 341.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 482.83 341.10 Td (average ) Tj ET Q q 0 0 0 rg BT 516.00 341.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 547.52 341.10 Td (rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.00 329.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 110.05 329.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 159.22 329.10 Td (under ) Tj ET Q q 0 0 0 rg BT 184.49 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.20 329.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 222.81 329.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 249.75 329.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 296.68 329.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.73 329.10 Td (4.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.56 329.10 Td ( ) Tj ET Q q 0 0 0 rg BT 338.06 329.10 Td (as ) Tj ET Q q 0 0 0 rg BT 348.89 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 359.72 329.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 418.30 329.10 Td (2017.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 305.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.33 305.10 Td (above ) Tj ET Q q 0 0 0 rg BT 111.50 305.10 Td (description ) Tj ET Q q 0 0 0 rg BT 158.22 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 168.83 305.10 Td (our ) Tj ET Q q 0 0 0 rg BT 184.45 305.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 207.85 305.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 234.62 305.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 281.33 305.10 Td (is ) Tj ET Q q 0 0 0 rg BT 290.29 305.10 Td (qualified ) Tj ET Q q 0 0 0 rg BT 328.12 305.10 Td (by ) Tj ET Q q 0 0 0 rg BT 340.40 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.91 305.10 Td (express ) Tj ET Q q 0 0 0 rg BT 387.19 305.10 Td (language ) Tj ET Q q 0 0 0 rg BT 425.57 305.10 Td (and ) Tj ET Q q 0 0 0 rg BT 442.29 305.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 474.56 305.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 499.07 305.10 Td (contained ) Tj ET Q q 0 0 0 rg BT 540.22 305.10 Td (in ) Tj ET Q q 0 0 0 rg BT 550.29 305.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 72.66 293.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 99.25 293.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 145.73 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.22 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 176.48 293.10 Td (amendments ) Tj ET Q q 0 0 0 rg BT 229.08 293.10 Td (thereto, ) Tj ET Q q 0 0 0 rg BT 261.39 293.10 Td (each ) Tj ET Q q 0 0 0 rg BT 281.76 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 292.14 293.10 Td (which ) Tj ET Q q 0 0 0 rg BT 318.63 293.10 Td (are ) Tj ET Q q 0 0 0 rg BT 332.89 293.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 353.26 293.10 Td (as ) Tj ET Q q 0 0 0 rg BT 363.64 293.10 Td (exhibits ) Tj ET Q q 0 0 0 rg BT 397.36 293.10 Td (to ) Tj ET Q q 0 0 0 rg BT 407.19 293.10 Td (our ) Tj ET Q q 0 0 0 rg BT 422.57 293.10 Td (periodic ) Tj ET Q q 0 0 0 rg BT 457.38 293.10 Td (reports ) Tj ET Q q 0 0 0 rg BT 487.20 293.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 507.58 293.10 Td (with ) Tj ET Q q 0 0 0 rg BT 527.41 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 541.67 293.10 Td (SEC.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (January ) Tj ET Q q 0 0 0 rg BT 87.56 269.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 110.06 269.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 137.66 269.10 Td ( ) Tj ET Q q 0 0 0 rg BT 140.16 269.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 201.01 269.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 223.50 269.10 Td (Exchanges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 245.10 Td (During ) Tj ET Q q 0 0 0 rg BT 98.74 245.10 Td (January ) Tj ET Q q 0 0 0 rg BT 132.75 245.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 158.16 245.10 Td (we ) Tj ET Q q 0 0 0 rg BT 172.73 245.10 Td (closed ) Tj ET Q q 0 0 0 rg BT 201.18 245.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 251.85 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 262.54 245.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 303.21 245.10 Td (a ) Tj ET Q q 0 0 0 rg BT 310.55 245.10 Td (total ) Tj ET Q q 0 0 0 rg BT 331.24 245.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.47 245.10 Td ($174.3 ) Tj ET Q q 0 0 0 rg BT 372.88 245.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.78 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 404.68 245.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 446.46 245.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 484.91 245.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 517.81 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 529.05 245.10 Td (our ) Tj ET Q q 0 0 0 rg BT 545.29 245.10 Td (then ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 84.29 233.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 111.85 233.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 166.63 233.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 190.86 233.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.65 233.10 Td ($74.1 ) Tj ET Q q 0 0 0 rg BT 231.27 233.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.16 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 263.29 233.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 305.27 233.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 343.94 233.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 377.06 233.10 Td (of ) Tj ET Q q 0 0 0 rg BT 388.51 233.10 Td (new ) Tj ET Q q 0 0 0 rg BT 408.30 233.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 431.42 233.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 460.65 233.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 495.98 233.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 522.44 233.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.00 233.10 Td ($59.4 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 221.10 Td ( ) Tj ET Q q 0 0 0 rg BT 80.06 221.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 120.60 221.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 157.81 221.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 189.48 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 199.48 221.10 Td (new ) Tj ET Q q 0 0 0 rg BT 217.81 221.10 Td (5% ) Tj ET Q q 0 0 0 rg BT 232.81 221.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 281.69 221.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 309.47 221.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 334.48 221.10 Td (due ) Tj ET Q q 0 0 0 rg BT 350.59 221.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 372.26 221.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 389.48 221.10 Td (�2023 ) Tj ET Q q 0 0 0 rg BT 415.58 221.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 464.47 221.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 492.25 221.10 Td (Notes�\), ) Tj ET Q q 0 0 0 rg BT 527.52 221.10 Td (resulting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.01 209.10 Td (a ) Tj ET Q q 0 0 0 rg BT 67.18 209.10 Td (net ) Tj ET Q q 0 0 0 rg BT 82.12 209.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 122.62 209.10 Td (in ) Tj ET Q q 0 0 0 rg BT 133.12 209.10 Td (our ) Tj ET Q q 0 0 0 rg BT 149.18 209.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 169.13 209.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 207.40 209.10 Td (from ) Tj ET Q q 0 0 0 rg BT 229.57 209.10 Td (these ) Tj ET Q q 0 0 0 rg BT 252.84 209.10 Td (exchanges ) Tj ET Q q 0 0 0 rg BT 297.22 209.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.28 209.10 Td ($40.8 ) Tj ET Q q 0 0 0 rg BT 333.51 209.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.40 209.10 Td (. ) Tj ET Q q 0 0 0 rg BT 367.63 209.10 Td ( ) Tj ET Q q 0 0 0 rg BT 370.16 209.10 Td (The ) Tj ET Q q 0 0 0 rg BT 388.44 209.10 Td (exchanged ) Tj ET Q q 0 0 0 rg BT 433.92 209.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 457.76 209.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 497.71 209.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 508.77 209.10 Td ($1) Tj ET Q q 0 0 0 rg BT 518.39 209.10 Td (1.6 ) Tj ET Q q 0 0 0 rg BT 533.62 209.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 90.72 197.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 128.62 197.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 160.97 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 171.66 197.10 Td (our ) Tj ET Q q 0 0 0 rg BT 187.35 197.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 209.70 197.10 Td (Notes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.89 197.10 Td ($94.2 ) Tj ET Q q 0 0 0 rg BT 262.75 197.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.64 197.10 Td ( ) Tj ET Q q 0 0 0 rg BT 294.00 197.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 335.22 197.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 373.12 197.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 405.47 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.16 197.10 Td (our ) Tj ET Q q 0 0 0 rg BT 431.84 197.10 Td (5�% ) Tj ET Q q 0 0 0 rg BT 455.03 197.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 483.50 197.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 539.18 197.10 Td (Notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (due ) Tj ET Q q 0 0 0 rg BT 66.15 185.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 88.36 185.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 106.12 185.10 Td (�2022 ) Tj ET Q q 0 0 0 rg BT 132.77 185.10 Td (Notes�\) ) Tj ET Q q 0 0 0 rg BT 166.08 185.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 182.73 185.10 Td ($68.5 ) Tj ET Q q 0 0 0 rg BT 207.44 185.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 236.33 185.10 Td ( ) Tj ET Q q 0 0 0 rg BT 238.54 185.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 279.61 185.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 317.37 185.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 349.57 185.10 Td (of ) Tj ET Q q 0 0 0 rg BT 360.11 185.10 Td (our ) Tj ET Q q 0 0 0 rg BT 375.65 185.10 Td (4) Tj ET Q /GS0 gs q 7.50 0 0 10.09 380.65 182.94 cm /I28 Do Q q 0 0 0 rg BT 388.15 185.10 Td (% ) Tj ET Q q 0 0 0 rg BT 398.70 185.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 427.01 185.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 482.55 185.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 508.09 185.10 Td (due ) Tj ET Q q 0 0 0 rg BT 524.74 185.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 546.95 185.10 Td (\(the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (�2023 ) Tj ET Q q 0 0 0 rg BT 76.44 173.10 Td (Notes�\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 149.10 Td (In ) Tj ET Q q 0 0 0 rg BT 79.34 149.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 127.82 149.10 Td (with ) Tj ET Q q 0 0 0 rg BT 149.11 149.10 Td (F) Tj ET Q q 0 0 0 rg BT 153.93 149.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 176.89 149.10 Td (470-60, ) Tj ET Q q 0 0 0 rg BT 211.24 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.97 149.10 Td (exchanges ) Tj ET Q q 0 0 0 rg BT 272.13 149.10 Td (were ) Tj ET Q q 0 0 0 rg BT 295.07 149.10 Td (accounted ) Tj ET Q q 0 0 0 rg BT 339.11 149.10 Td (for ) Tj ET Q q 0 0 0 rg BT 354.29 149.10 Td (as ) Tj ET Q q 0 0 0 rg BT 366.13 149.10 Td (a ) Tj ET Q q 0 0 0 rg BT 374.08 149.10 Td (troubled ) Tj ET Q q 0 0 0 rg BT 410.92 149.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 431.65 149.10 Td (restructuring ) Tj ET Q q 0 0 0 rg BT 486.26 149.10 Td (due ) Tj ET Q q 0 0 0 rg BT 504.21 149.10 Td (to ) Tj ET Q q 0 0 0 rg BT 515.50 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 531.23 149.10 Td (level ) Tj ET Q q 0 0 0 rg BT 554.18 149.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (concession ) Tj ET Q q 0 0 0 rg BT 96.48 137.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 135.14 137.10 Td (by ) Tj ET Q q 0 0 0 rg BT 148.24 137.10 Td (our ) Tj ET Q q 0 0 0 rg BT 164.68 137.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 192.23 137.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 246.99 137.10 Td (note ) Tj ET Q q 0 0 0 rg BT 267.31 137.10 Td (holders. ) Tj ET Q q 0 0 0 rg BT 302.36 137.10 Td ( ) Tj ET Q q 0 0 0 rg BT 305.47 137.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 333.56 137.10 Td (this ) Tj ET Q q 0 0 0 rg BT 351.12 137.10 Td (guidance, ) Tj ET Q q 0 0 0 rg BT 392.82 137.10 Td (future ) Tj ET Q q 0 0 0 rg BT 419.80 137.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 452.34 137.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 496.54 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 507.42 137.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.75 137.10 Td (new ) Tj ET Q q 0 0 0 rg BT 542.51 137.10 Td (2022 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 77.66 125.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 111.92 125.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 137.31 125.10 Td (and ) Tj ET Q q 0 0 0 rg BT 153.80 125.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 175.86 125.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 225.12 125.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 253.29 125.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 278.67 125.10 Td (was ) Tj ET Q q 0 0 0 rg BT 296.28 125.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 333.31 125.10 Td (as ) Tj ET Q q 0 0 0 rg BT 343.69 125.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 362.96 125.10 Td (up ) Tj ET Q q 0 0 0 rg BT 375.02 125.10 Td (to ) Tj ET Q q 0 0 0 rg BT 384.85 125.10 Td (the ) Tj ET Q q 0 0 0 rg BT 399.12 125.10 Td (point ) Tj ET Q q 0 0 0 rg BT 421.74 125.10 Td (that ) Tj ET Q q 0 0 0 rg BT 438.79 125.10 Td (the ) Tj ET Q q 0 0 0 rg BT 453.06 125.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 490.65 125.10 Td (and ) Tj ET Q q 0 0 0 rg BT 507.15 125.10 Td (future ) Tj ET Q q 0 0 0 rg BT 533.08 125.10 Td (interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.61 113.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.61 113.10 Td (new ) Tj ET Q q 0 0 0 rg BT 95.05 113.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 118.94 113.10 Td (was ) Tj ET Q q 0 0 0 rg BT 137.28 113.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 161.72 113.10 Td (to ) Tj ET Q q 0 0 0 rg BT 172.28 113.10 Td (the ) Tj ET Q q 0 0 0 rg BT 187.28 113.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 225.60 113.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 258.38 113.10 Td (of ) Tj ET Q q 0 0 0 rg BT 269.49 113.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.49 113.10 Td (extinguished ) Tj ET Q q 0 0 0 rg BT 338.37 113.10 Td (notes, ) Tj ET Q q 0 0 0 rg BT 364.76 113.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 390.86 113.10 Td (than ) Tj ET Q q 0 0 0 rg BT 410.86 113.10 Td (recognizing ) Tj ET Q q 0 0 0 rg BT 460.85 113.10 Td (a ) Tj ET Q q 0 0 0 rg BT 468.07 113.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 488.07 113.10 Td (on ) Tj ET Q q 0 0 0 rg BT 500.85 113.10 Td (extinguishment ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.30 101.10 Td (this ) Tj ET Q q 0 0 0 rg BT 79.88 101.10 Td (amount. ) Tj ET Q q 0 0 0 rg BT 114.51 101.10 Td ( ) Tj ET Q q 0 0 0 rg BT 116.64 101.10 Td (In ) Tj ET Q q 0 0 0 rg BT 127.11 101.10 Td (May ) Tj ET Q q 0 0 0 rg BT 147.58 101.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 172.21 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 186.56 101.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 205.91 101.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 243.59 101.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 276.26 101.10 Td (and ) Tj ET Q q 0 0 0 rg BT 292.83 101.10 Td (future ) Tj ET Q q 0 0 0 rg BT 318.85 101.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 350.41 101.10 Td (applicable ) Tj ET Q q 0 0 0 rg BT 393.64 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 403.55 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 417.90 101.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 440.04 101.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 489.39 101.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 517.63 101.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 543.10 101.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.10 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 96.78 89.10 Td (to ) Tj ET Q q 0 0 0 rg BT 106.31 89.10 Td (�Paid-in ) Tj ET Q q 0 0 0 rg BT 141.38 89.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 169.78 89.10 Td (in ) Tj ET Q q 0 0 0 rg BT 179.31 89.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 207.16 89.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.24 89.10 Td (par� ) Tj ET Q q 0 0 0 rg BT 236.20 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 252.38 89.10 Td (�Common ) Tj ET Q q 0 0 0 rg BT 295.80 89.10 Td (stock� ) Tj ET Q q 0 0 0 rg BT 323.10 89.10 Td (in ) Tj ET Q q 0 0 0 rg BT 332.62 89.10 Td (our ) Tj ET Q q 0 0 0 rg BT 347.70 89.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 402.23 89.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 436.18 89.10 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 464.04 89.10 Td (following ) Tj ET Q q 0 0 0 rg BT 504.67 89.10 Td (the ) Tj ET Q q 0 0 0 rg BT 518.64 89.10 Td (conversion ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.71 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.81 77.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 99.80 77.10 Td (into ) Tj ET Q q 0 0 0 rg BT 118.24 77.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 146.11 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 157.32 77.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 195.19 77.10 Td (common ) Tj ET Q q 0 0 0 rg BT 233.06 77.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 257.05 77.10 Td (\(see ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 276.03 77.10 Td (Conversions ) Tj ET Q q 0 0 0 rg BT 328.91 77.10 Td (of ) Tj ET Q q 0 0 0 rg BT 339.57 77.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 362.45 77.10 Td (and ) Tj ET Q q 0 0 0 rg BT 380.33 77.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 403.22 77.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 453.31 77.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 482.30 77.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 507.96 77.10 Td (into ) Tj ET Q q 0 0 0 rg BT 526.39 77.10 Td (Common ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 65.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 74.11 65.10 Td (in ) Tj ET Q q 0 0 0 rg BT 84.62 65.10 Td (April ) Tj ET Q q 0 0 0 rg BT 108.13 65.10 Td (and ) Tj ET Q q 0 0 0 rg BT 126.08 65.10 Td (May ) Tj ET Q q 0 0 0 rg BT 146.80 65.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.80 65.10 Td ( ) Tj ET Q q 0 0 0 rg BT 169.75 65.10 Td (below ) Tj ET Q q 0 0 0 rg BT 197.14 65.10 Td (for ) Tj ET Q q 0 0 0 rg BT 211.75 65.10 Td (further ) Tj ET Q q 0 0 0 rg BT 241.91 65.10 Td (discussion\). ) Tj ET Q q 0 0 0 rg BT 292.36 65.10 Td ( ) Tj ET Q q 0 0 0 rg BT 294.66 65.10 Td (As ) Tj ET Q q 0 0 0 rg BT 308.72 65.10 Td (of ) Tj ET Q q 0 0 0 rg BT 320.00 65.10 Td (December ) Tj ET Q q 0 0 0 rg BT 364.04 65.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 379.49 65.10 Td (2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.94 65.10 Td ($1) Tj ET Q q 0 0 0 rg BT 414.57 65.10 Td (13.8 ) Tj ET Q q 0 0 0 rg BT 435.02 65.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.91 65.10 Td ( ) Tj ET Q q 0 0 0 rg BT 466.86 65.10 Td (of ) Tj ET Q q 0 0 0 rg BT 478.14 65.10 Td (future ) Tj ET Q q 0 0 0 rg BT 504.97 65.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 537.35 65.10 Td (on ) Tj ET Q q 0 0 0 rg BT 550.30 65.10 Td (the ) Tj ET Q endstream endobj 165 0 obj <> endobj 166 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (82) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 72.85 713.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 102.32 713.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 137.88 713.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 164.56 713.10 Td (was ) Tj ET Q q 0 0 0 rg BT 183.46 713.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 221.79 713.10 Td (as ) Tj ET Q q 0 0 0 rg BT 233.48 713.10 Td (debt, ) Tj ET Q q 0 0 0 rg BT 256.55 713.10 Td (which ) Tj ET Q q 0 0 0 rg BT 284.34 713.10 Td (will ) Tj ET Q q 0 0 0 rg BT 303.25 713.10 Td (be ) Tj ET Q q 0 0 0 rg BT 316.04 713.10 Td (reduced ) Tj ET Q q 0 0 0 rg BT 351.04 713.10 Td (as ) Tj ET Q q 0 0 0 rg BT 362.72 713.10 Td (semiannual ) Tj ET Q q 0 0 0 rg BT 411.62 713.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 444.41 713.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 486.09 713.10 Td (are ) Tj ET Q q 0 0 0 rg BT 501.65 713.10 Td (made, ) Tj ET Q q 0 0 0 rg BT 529.16 713.10 Td (with ) Tj ET Q q 0 0 0 rg BT 550.29 713.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (remaining ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.14 701.10 Td ($23.2 ) Tj ET Q q 0 0 0 rg BT 118.74 701.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.63 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 150.74 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 162.17 701.10 Td (future ) Tj ET Q q 0 0 0 rg BT 189.14 701.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 221.68 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 232.56 701.10 Td (be ) Tj ET Q q 0 0 0 rg BT 245.10 701.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 292.06 701.10 Td (as ) Tj ET Q q 0 0 0 rg BT 303.49 701.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 336.02 701.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 371.33 701.10 Td (over ) Tj ET Q q 0 0 0 rg BT 392.20 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.52 701.10 Td (term ) Tj ET Q q 0 0 0 rg BT 428.94 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 440.37 701.10 Td (these ) Tj ET Q q 0 0 0 rg BT 464.02 701.10 Td (notes. ) Tj ET Q q 0 0 0 rg BT 490.73 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 493.61 701.10 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 538.62 701.10 Td (future ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 81.73 689.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 116.74 689.10 Td (reflected ) Tj ET Q q 0 0 0 rg BT 154.51 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 165.09 689.10 Td (our ) Tj ET Q q 0 0 0 rg BT 181.22 689.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 236.79 689.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 283.47 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 294.60 689.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 341.28 689.10 Td (on ) Tj ET Q q 0 0 0 rg BT 354.08 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.09 689.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 391.89 689.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 420.80 689.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 455.80 689.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 481.93 689.10 Td (will ) Tj ET Q q 0 0 0 rg BT 500.29 689.10 Td (be ) Tj ET Q q 0 0 0 rg BT 512.53 689.10 Td (significantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 74.77 677.10 Td (than ) Tj ET Q q 0 0 0 rg BT 94.49 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.20 677.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 135.57 677.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 155.84 677.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 187.78 677.10 Td (payments.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 72.00 653.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 99.60 653.10 Td ( ) Tj ET Q q 0 0 0 rg BT 102.10 653.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 162.95 653.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 185.44 653.10 Td (Exchanges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 629.10 Td (During ) Tj ET Q q 0 0 0 rg BT 99.11 629.10 Td (December ) Tj ET Q q 0 0 0 rg BT 143.46 629.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 169.24 629.10 Td (we ) Tj ET Q q 0 0 0 rg BT 184.18 629.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 216.88 629.10 Td (into ) Tj ET Q q 0 0 0 rg BT 235.71 629.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 274.52 629.10 Td (negotiated ) Tj ET Q q 0 0 0 rg BT 319.45 629.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 368.26 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 379.31 629.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 420.34 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 428.05 629.10 Td (total ) Tj ET Q q 0 0 0 rg BT 449.10 629.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.71 629.10 Td ($609.8 ) Tj ET Q q 0 0 0 rg BT 491.48 629.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.38 629.10 Td ( ) Tj ET Q q 0 0 0 rg BT 523.65 629.10 Td (aggregate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 88.18 617.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 121.32 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.79 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 149.26 617.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 184.07 617.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 211.65 617.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 266.44 617.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 290.69 617.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.49 617.10 Td ($381.6 ) Tj ET Q q 0 0 0 rg BT 336.14 617.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 365.03 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 368.17 617.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 410.17 617.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 448.85 617.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 481.99 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 493.46 617.10 Td (new ) Tj ET Q q 0 0 0 rg BT 513.26 617.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 536.40 617.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 84.26 605.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 110.14 605.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.13 605.10 Td ($84.7 ) Tj ET Q q 0 0 0 rg BT 152.18 605.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 181.07 605.10 Td ( ) Tj ET Q q 0 0 0 rg BT 183.62 605.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 225.03 605.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 263.12 605.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 295.67 605.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.55 605.10 Td (new ) Tj ET Q q 0 0 0 rg BT 325.76 605.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 348.31 605.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 398.07 605.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 426.73 605.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 455.11 605.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 492.66 605.10 Td (in ) Tj ET Q q 0 0 0 rg BT 502.99 605.10 Td (a ) Tj ET Q q 0 0 0 rg BT 509.97 605.10 Td (net ) Tj ET Q q 0 0 0 rg BT 524.74 605.10 Td (reduction ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.10 593.10 Td (our ) Tj ET Q q 0 0 0 rg BT 74.26 593.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 93.30 593.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 130.67 593.10 Td (from ) Tj ET Q q 0 0 0 rg BT 151.93 593.10 Td (these ) Tj ET Q q 0 0 0 rg BT 174.30 593.10 Td (exchanges ) Tj ET Q q 0 0 0 rg BT 217.77 593.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.93 593.10 Td ($143.6 ) Tj ET Q q 0 0 0 rg BT 257.25 593.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 286.15 593.10 Td (. ) Tj ET Q q 0 0 0 rg BT 290.47 593.10 Td ( ) Tj ET Q q 0 0 0 rg BT 292.16 593.10 Td (The ) Tj ET Q q 0 0 0 rg BT 309.54 593.10 Td (exchanged ) Tj ET Q q 0 0 0 rg BT 354.12 593.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 377.05 593.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 416.09 593.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 426.25 593.10 Td ($364.0 ) Tj ET Q q 0 0 0 rg BT 455.57 593.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 484.46 593.10 Td ( ) Tj ET Q q 0 0 0 rg BT 486.29 593.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 526.98 593.10 Td (principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 82.00 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.83 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 108.66 581.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 131.16 581.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 156.99 581.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.92 581.10 Td ($245.8 ) Tj ET Q q 0 0 0 rg BT 203.92 581.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.82 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 235.32 581.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 276.68 581.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 314.72 581.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 347.21 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 358.04 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 373.88 581.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 396.38 581.10 Td (Notes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 72.00 557.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 99.60 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 102.10 557.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 162.95 557.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 185.44 557.10 Td (Exchanges) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 533.10 Td (During ) Tj ET Q q 0 0 0 rg BT 98.79 533.10 Td (May ) Tj ET Q q 0 0 0 rg BT 120.07 533.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 145.53 533.10 Td (we ) Tj ET Q q 0 0 0 rg BT 160.14 533.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 192.52 533.10 Td (into ) Tj ET Q q 0 0 0 rg BT 211.03 533.10 Td (privately ) Tj ET Q q 0 0 0 rg BT 249.53 533.10 Td (negotiated ) Tj ET Q q 0 0 0 rg BT 294.14 533.10 Td (agreements ) Tj ET Q q 0 0 0 rg BT 342.63 533.10 Td (to ) Tj ET Q q 0 0 0 rg BT 353.36 533.10 Td (exchange ) Tj ET Q q 0 0 0 rg BT 394.07 533.10 Td (a ) Tj ET Q q 0 0 0 rg BT 401.46 533.10 Td (total ) Tj ET Q q 0 0 0 rg BT 422.19 533.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 433.48 533.10 Td ($1,057.8 ) Tj ET Q q 0 0 0 rg BT 471.43 533.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.32 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 503.28 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 514.57 533.10 Td (our ) Tj ET Q q 0 0 0 rg BT 530.85 533.10 Td (existing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 77.41 521.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 132.54 521.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 157.12 521.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.26 521.10 Td ($614.9 ) Tj ET Q q 0 0 0 rg BT 203.23 521.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.12 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 235.60 521.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 274.61 521.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 308.08 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 319.89 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 336.69 521.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 360.17 521.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 389.75 521.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 425.43 521.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 452.23 521.10 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.38 521.10 Td (40.7 ) Tj ET Q q 0 0 0 rg BT 493.35 521.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.24 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 525.72 521.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 554.18 521.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 86.94 509.10 Td (common ) Tj ET Q q 0 0 0 rg BT 124.39 509.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 150.45 509.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 187.90 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 198.13 509.10 Td (a ) Tj ET Q q 0 0 0 rg BT 205.02 509.10 Td (net ) Tj ET Q q 0 0 0 rg BT 219.69 509.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 259.91 509.10 Td (from ) Tj ET Q q 0 0 0 rg BT 281.80 509.10 Td (these ) Tj ET Q q 0 0 0 rg BT 304.80 509.10 Td (exchanges ) Tj ET Q q 0 0 0 rg BT 348.90 509.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.68 509.10 Td ($442.9 ) Tj ET Q q 0 0 0 rg BT 389.63 509.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 418.52 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 420.98 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 431.21 509.10 Td (our ) Tj ET Q q 0 0 0 rg BT 446.99 509.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 466.66 509.10 Td (principal. ) Tj ET Q q 0 0 0 rg BT 507.15 509.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 509.34 516.03 55.68 -9.09 re f /GS0 gs q 0 0 0 rg BT 509.06 509.10 Td (As ) Tj ET Q q 0 0 0 rg BT 522.63 509.10 Td (a ) Tj ET Q q 0 0 0 rg BT 529.52 509.10 Td (result ) Tj ET Q q 0 0 0 rg BT 554.19 509.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET 1 1 1 rg /GS0 gs 49.50 504.03 74.32 -9.09 re f /GS0 gs q 0 0 0 rg BT 49.50 497.10 Td (this ) Tj ET Q q 0 0 0 rg BT 66.40 497.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 86.07 497.10 Td (exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.82 497.10 Td (, ) Tj ET Q q 0 0 0 rg BT 128.77 497.10 Td (we ) Tj ET Q q 0 0 0 rg BT 142.88 497.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 189.19 497.10 Td (a ) Tj ET Q q 0 0 0 rg BT 196.08 497.10 Td (gain ) Tj ET Q q 0 0 0 rg BT 215.75 497.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.53 497.10 Td ($12.0 ) Tj ET Q q 0 0 0 rg BT 251.48 497.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.37 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 282.82 497.10 Td (during ) Tj ET Q q 0 0 0 rg BT 311.38 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.05 497.10 Td (year ) Tj ET Q q 0 0 0 rg BT 345.70 497.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 372.03 497.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 430.56 497.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 455.51 497.10 Td (which ) Tj ET Q q 0 0 0 rg BT 482.40 497.10 Td (is ) Tj ET Q q 0 0 0 rg BT 491.52 497.10 Td (included ) Tj ET Q q 0 0 0 rg BT 528.41 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 538.64 497.10 Td (�Gain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.00 485.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 81.72 485.10 Td (extinguishment� ) Tj ET Q q 0 0 0 rg BT 150.32 485.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.59 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 175.31 485.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 236.12 485.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 291.39 485.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 337.78 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 348.61 485.10 Td (Operations.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (Conversions of 2023 and 2024 Convertible Senior) Tj ET Q q 0 0 0 rg BT 259.88 461.10 Td ( Notes into Common Stock in ) Tj ET Q q 0 0 0 rg BT 386.56 461.10 Td (April and May 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 437.10 Td (During ) Tj ET Q q 0 0 0 rg BT 97.30 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 110.98 437.10 Td (second ) Tj ET Q q 0 0 0 rg BT 140.21 437.10 Td (quarter ) Tj ET Q q 0 0 0 rg BT 170.00 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 179.79 437.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 203.76 437.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 234.66 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 244.46 437.10 Td (all�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 256.96 437.10 Td ($59.4 ) Tj ET Q q 0 0 0 rg BT 280.92 437.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.81 437.10 Td (�aggregate ) Tj ET Q q 0 0 0 rg BT 352.64 437.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 389.65 437.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 421.11 437.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 469.24 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.04 437.10 Td (our ) Tj ET Q q 0 0 0 rg BT 493.84 437.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 515.30 437.10 Td (Convertible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 78.87 425.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 105.46 425.10 Td (and�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 122.39 425.10 Td ($84.7 ) Tj ET Q q 0 0 0 rg BT 148.15 425.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.04 425.10 Td (�aggregate ) Tj ET Q q 0 0 0 rg BT 221.66 425.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 260.46 425.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 293.72 425.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 343.64 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 355.23 425.10 Td (our ) Tj ET Q q 0 0 0 rg BT 371.82 425.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 395.08 425.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 445.55 425.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 474.91 425.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 501.50 425.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 544.18 425.10 Td (their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 72.53 413.10 Td (into ) Tj ET Q q 0 0 0 rg BT 90.01 413.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 116.92 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.17 413.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 164.08 413.10 Td (common ) Tj ET Q q 0 0 0 rg BT 201.00 413.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 226.53 413.10 Td (at ) Tj ET Q q 0 0 0 rg BT 235.67 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 249.81 413.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 270.60 413.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 308.62 413.10 Td (in ) Tj ET Q q 0 0 0 rg BT 318.32 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 332.46 413.10 Td (indentures ) Tj ET Q q 0 0 0 rg BT 376.03 413.10 Td (for ) Tj ET Q q 0 0 0 rg BT 389.61 413.10 Td (these ) Tj ET Q q 0 0 0 rg BT 412.08 413.10 Td (notes, ) Tj ET Q q 0 0 0 rg BT 437.61 413.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 474.53 413.10 Td (in ) Tj ET Q q 0 0 0 rg BT 484.23 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 498.37 413.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 534.17 413.10 Td (of�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.00 413.10 Td (55.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 401.10 Td (�shares ) Tj ET Q q 0 0 0 rg BT 108.57 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 119.59 401.10 Td (our ) Tj ET Q q 0 0 0 rg BT 135.60 401.10 Td (common ) Tj ET Q q 0 0 0 rg BT 173.29 401.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 197.08 401.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 219.77 401.10 Td (conversion. ) Tj ET Q q 0 0 0 rg BT 268.83 401.10 Td ( ) Tj ET Q q 0 0 0 rg BT 271.32 401.10 Td (The ) Tj ET Q q 0 0 0 rg BT 289.56 401.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 309.46 401.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 347.69 401.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 384.80 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 401.93 401.10 Td (future ) Tj ET Q q 0 0 0 rg BT 428.49 401.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 460.61 401.10 Td (treated ) Tj ET Q q 0 0 0 rg BT 490.50 401.10 Td (as ) Tj ET Q q 0 0 0 rg BT 501.52 401.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 521.42 401.10 Td (applicable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.08 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.09 389.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 97.89 389.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 147.90 389.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 176.80 389.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 202.93 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 220.17 389.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 242.97 389.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 292.98 389.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 321.88 389.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 350.51 389.10 Td (totaling�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.56 389.10 Td ($162.0 ) Tj ET Q q 0 0 0 rg BT 413.86 389.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 442.75 389.10 Td (, ) Tj ET Q q 0 0 0 rg BT 448.05 389.10 Td (were ) Tj ET Q q 0 0 0 rg BT 470.28 389.10 Td (reclassified ) Tj ET Q q 0 0 0 rg BT 518.61 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 529.18 389.10 Td (�Paid-in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 78.89 377.10 Td (in ) Tj ET Q q 0 0 0 rg BT 89.41 377.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 118.25 377.10 Td (of ) Tj ET Q q 0 0 0 rg BT 129.32 377.10 Td (par� ) Tj ET Q q 0 0 0 rg BT 149.27 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 166.45 377.10 Td (�Common ) Tj ET Q q 0 0 0 rg BT 210.85 377.10 Td (stock� ) Tj ET Q q 0 0 0 rg BT 239.14 377.10 Td (in ) Tj ET Q q 0 0 0 rg BT 249.66 377.10 Td (our ) Tj ET Q q 0 0 0 rg BT 265.73 377.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 321.24 377.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 356.19 377.10 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 385.04 377.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 407.78 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 422.73 377.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 469.35 377.10 Td (of ) Tj ET Q q 0 0 0 rg BT 480.42 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 495.38 377.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 519.23 377.10 Td (into ) Tj ET Q q 0 0 0 rg BT 537.53 377.10 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.11 365.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 97.39 365.10 Td (common ) Tj ET Q q 0 0 0 rg BT 134.66 365.10 Td (stock. ) Tj ET Q q 0 0 0 rg BT 160.55 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 162.33 365.10 Td (As ) Tj ET Q q 0 0 0 rg BT 175.73 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 185.84 365.10 Td (April ) Tj ET Q q 0 0 0 rg BT 209.23 365.10 Td (18, ) Tj ET Q q 0 0 0 rg BT 224.01 365.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 246.29 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 263.02 365.10 Td (May ) Tj ET Q q 0 0 0 rg BT 283.63 365.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 298.41 365.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 323.19 365.10 Td (there ) Tj ET Q q 0 0 0 rg BT 345.46 365.10 Td (were ) Tj ET Q q 0 0 0 rg BT 367.17 365.10 Td (no ) Tj ET Q q 0 0 0 rg BT 379.46 365.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 422.28 365.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 444.56 365.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 494.06 365.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 522.45 365.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 548.06 365.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (2023 ) Tj ET Q q 0 0 0 rg BT 72.00 353.10 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 121.71 353.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 150.32 353.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 176.15 353.10 Td (outstanding, ) Tj ET Q q 0 0 0 rg BT 227.82 353.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 275.48 353.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 77.10 329.10 Td ( ) Tj ET Q q 0 0 0 rg BT 79.60 329.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 103.86 329.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 116.36 329.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 149.42 329.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 171.37 329.10 Td (Notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 305.10 Td (9% ) Tj ET Q q 0 0 0 rg BT 85.08 305.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 112.67 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 115.25 305.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 139.51 305.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 152.08 305.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 185.22 305.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 207.24 305.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 233.70 305.10 Td (due ) Tj ET Q q 0 0 0 rg BT 251.84 305.10 Td (2021. ) Tj ET Q q 0 0 0 rg BT 276.91 305.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 279.49 305.10 Td (In ) Tj ET Q q 0 0 0 rg BT 290.40 305.10 Td (May ) Tj ET Q q 0 0 0 rg BT 311.30 305.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 336.38 305.10 Td (we ) Tj ET Q q 0 0 0 rg BT 350.61 305.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.19 305.10 Td ($614.9 ) Tj ET Q q 0 0 0 rg BT 408.26 305.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.16 305.10 Td ( ) Tj ET Q q 0 0 0 rg BT 439.73 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 450.64 305.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 473.21 305.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 501.90 305.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 536.68 305.10 Td (Notes.� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.87 293.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 90.69 293.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 119.62 293.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 154.65 293.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 183.30 293.10 Td (which ) Tj ET Q q 0 0 0 rg BT 210.56 293.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 230.59 293.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 262.84 293.10 Td (at ) Tj ET Q q 0 0 0 rg BT 272.88 293.10 Td (a ) Tj ET Q q 0 0 0 rg BT 280.14 293.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 297.95 293.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.10 293.10 Td (9%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 322.43 293.10 Td ( ) Tj ET Q q 0 0 0 rg BT 325.25 293.10 Td (per ) Tj ET Q q 0 0 0 rg BT 340.84 293.10 Td (annum, ) Tj ET Q q 0 0 0 rg BT 373.38 293.10 Td (were ) Tj ET Q q 0 0 0 rg BT 395.63 293.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 423.45 293.10 Td (at ) Tj ET Q q 0 0 0 rg BT 433.49 293.10 Td (par ) Tj ET Q q 0 0 0 rg BT 449.08 293.10 Td (in ) Tj ET Q q 0 0 0 rg BT 459.68 293.10 Td (connection ) Tj ET Q q 0 0 0 rg BT 506.37 293.10 Td (with ) Tj ET Q q 0 0 0 rg BT 526.97 293.10 Td (privately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (negotiated ) Tj ET Q q 0 0 0 rg BT 93.45 281.10 Td (exchanges ) Tj ET Q q 0 0 0 rg BT 137.39 281.10 Td (with ) Tj ET Q q 0 0 0 rg BT 157.46 281.10 Td (a ) Tj ET Q q 0 0 0 rg BT 164.20 281.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 194.82 281.10 Td (number ) Tj ET Q q 0 0 0 rg BT 227.67 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.29 281.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 270.03 281.10 Td (of ) Tj ET Q q 0 0 0 rg BT 280.66 281.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 314.62 281.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 341.35 281.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 395.30 281.10 Td (notes ) Tj ET Q q 0 0 0 rg BT 418.71 281.10 Td (\(see ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 437.10 281.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 459.40 281.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 487.80 281.10 Td (Subor) Tj ET Q q 0 0 0 rg BT 511.33 281.10 Td (dinated ) Tj ET Q q 0 0 0 rg BT 543.62 281.10 Td (Note ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (Exchanges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.42 269.10 Td (above\).� ) Tj ET Q q 0 0 0 rg BT 130.04 269.10 Td (The ) Tj ET Q q 0 0 0 rg BT 148.19 269.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 170.79 269.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 199.50 269.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 234.31 269.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 260.24 269.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 290.61 269.10 Td (on ) Tj ET Q q 0 0 0 rg BT 303.21 269.10 Td (May ) Tj ET Q q 0 0 0 rg BT 324.15 269.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 339.25 269.10 Td (2021, ) Tj ET Q q 0 0 0 rg BT 364.35 269.10 Td (and ) Tj ET Q q 0 0 0 rg BT 381.39 269.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 413.43 269.10 Td (is ) Tj ET Q q 0 0 0 rg BT 422.70 269.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 456.40 269.10 Td (semiannually ) Tj ET Q q 0 0 0 rg BT 512.32 269.10 Td (in ) Tj ET Q q 0 0 0 rg BT 522.70 269.10 Td (arrears ) Tj ET Q q 0 0 0 rg BT 552.50 269.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (May ) Tj ET Q q 0 0 0 rg BT 69.76 257.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 81.69 257.10 Td (and ) Tj ET Q q 0 0 0 rg BT 98.06 257.10 Td (November ) Tj ET Q q 0 0 0 rg BT 142.20 257.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 154.13 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.39 257.10 Td (each ) Tj ET Q q 0 0 0 rg BT 184.63 257.10 Td (year) Tj ET Q q 0 0 0 rg BT 201.29 257.10 Td (.� ) Tj ET Q q 0 0 0 rg BT 208.08 257.10 Td (W) Tj ET Q q 0 0 0 rg BT 216.72 257.10 Td (e ) Tj ET Q q 0 0 0 rg BT 223.08 257.10 Td (may ) Tj ET Q q 0 0 0 rg BT 242.23 257.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 273.59 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 287.73 257.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 309.66 257.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 337.70 257.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 371.84 257.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 397.10 257.10 Td (in ) Tj ET Q q 0 0 0 rg BT 406.81 257.10 Td (whole ) Tj ET Q q 0 0 0 rg BT 433.18 257.10 Td (or ) Tj ET Q q 0 0 0 rg BT 443.44 257.10 Td (in ) Tj ET Q q 0 0 0 rg BT 453.14 257.10 Td (part ) Tj ET Q q 0 0 0 rg BT 470.62 257.10 Td (at ) Tj ET Q q 0 0 0 rg BT 479.77 257.10 Td (our ) Tj ET Q q 0 0 0 rg BT 495.03 257.10 Td (option ) Tj ET Q q 0 0 0 rg BT 522.52 257.10 Td (beginning ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.87 245.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 109.66 245.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 135.45 245.10 Td (at ) Tj ET Q q 0 0 0 rg BT 145.96 245.10 Td (a ) Tj ET Q q 0 0 0 rg BT 153.68 245.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 202.51 245.10 Td (price ) Tj ET Q q 0 0 0 rg BT 225.79 245.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.41 245.10 Td (109%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.74 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 264.02 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.64 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.15 245.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 329.98 245.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 365.76 245.10 Td (and ) Tj ET Q q 0 0 0 rg BT 383.49 245.10 Td (at ) Tj ET Q q 0 0 0 rg BT 393.99 245.10 Td (declining ) Tj ET Q q 0 0 0 rg BT 434.50 245.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 483.33 245.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 510.49 245.10 Td (thereafter) Tj ET Q q 0 0 0 rg BT 548.39 245.10 Td (, ) Tj ET Q q 0 0 0 rg BT 554.18 245.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 87.51 233.10 Td (in ) Tj ET Q q 0 0 0 rg BT 97.20 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 111.34 233.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 151.01 233.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 193.48 233.10 Td (the ) Tj ET Q q 0 0 0 rg BT 207.61 233.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 229.52 233.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 257.55 233.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 291.67 233.10 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 319.42 233.10 Td ( ) Tj ET Q q 0 0 0 rg BT 321.19 233.10 Td (The ) Tj ET Q q 0 0 0 rg BT 338.66 233.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 360.57 233.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 388.60 233.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 422.72 233.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 447.96 233.10 Td (are ) Tj ET Q q 0 0 0 rg BT 462.09 233.10 Td (not ) Tj ET Q q 0 0 0 rg BT 476.78 233.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 507.02 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.71 233.10 Td (any ) Tj ET Q q 0 0 0 rg BT 533.07 233.10 Td (sinking ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 70.33 221.10 Td (requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 197.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.57 197.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 108.10 197.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 136.73 197.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 171.46 197.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 197.31 197.10 Td (are ) Tj ET Q q 0 0 0 rg BT 212.05 197.10 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 258.43 197.10 Td (jointly ) Tj ET Q q 0 0 0 rg BT 287.07 197.10 Td (and ) Tj ET Q q 0 0 0 rg BT 304.03 197.10 Td (severally ) Tj ET Q q 0 0 0 rg BT 342.65 197.10 Td (by ) Tj ET Q q 0 0 0 rg BT 355.18 197.10 Td (our ) Tj ET Q q 0 0 0 rg BT 371.03 197.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 420.77 197.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 472.72 197.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 525.80 197.10 Td (all ) Tj ET Q q 0 0 0 rg BT 538.32 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.17 197.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 77.39 185.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 121.11 185.10 Td (and ) Tj ET Q q 0 0 0 rg BT 137.61 185.10 Td (income ) Tj ET Q q 0 0 0 rg BT 169.10 185.10 Td (and ) Tj ET Q q 0 0 0 rg BT 185.60 185.10 Td (are ) Tj ET Q q 0 0 0 rg BT 199.87 185.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 232.46 185.10 Td (by ) Tj ET Q q 0 0 0 rg BT 244.52 185.10 Td (second-priority ) Tj ET Q q 0 0 0 rg BT 307.68 185.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 328.63 185.10 Td (on ) Tj ET Q q 0 0 0 rg BT 340.69 185.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 393.30 185.10 Td (all ) Tj ET Q q 0 0 0 rg BT 405.35 185.10 Td (of ) Tj ET Q q 0 0 0 rg BT 415.75 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.02 185.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 455.41 185.10 Td (that ) Tj ET Q q 0 0 0 rg BT 472.47 185.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 500.07 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 514.34 185.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 537.51 185.10 Td (Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 99.32 173.10 Td (which ) Tj ET Q q 0 0 0 rg BT 126.65 173.10 Td (second-priority ) Tj ET Q q 0 0 0 rg BT 190.64 173.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 212.42 173.10 Td (are ) Tj ET Q q 0 0 0 rg BT 227.52 173.10 Td (contractually ) Tj ET Q q 0 0 0 rg BT 282.61 173.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 337.16 173.10 Td (to ) Tj ET Q q 0 0 0 rg BT 347.84 173.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 369.62 173.10 Td (that ) Tj ET Q q 0 0 0 rg BT 387.51 173.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 415.94 173.10 Td (our ) Tj ET Q q 0 0 0 rg BT 432.16 173.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 456.17 173.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 483.42 173.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 530.74 173.10 Td (and ) Tj ET Q q 0 0 0 rg BT 548.07 173.10 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (future ) Tj ET Q q 0 0 0 rg BT 75.88 161.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 118.37 161.10 Td (priority ) Tj ET Q q 0 0 0 rg BT 150.86 161.10 Td (lien ) Tj ET Q q 0 0 0 rg BT 168.36 161.10 Td (debt.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 137.10 Td (9�% ) Tj ET Q q 0 0 0 rg BT 92.83 137.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 120.43 137.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.26 137.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 147.51 137.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 160.34 137.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 193.74 137.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 216.01 137.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 242.72 137.10 Td (due ) Tj ET Q q 0 0 0 rg BT 261.12 137.10 Td (2022. ) Tj ET Q q 0 0 0 rg BT 286.45 137.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 289.27 137.10 Td (In ) Tj ET Q q 0 0 0 rg BT 300.43 137.10 Td (December ) Tj ET Q q 0 0 0 rg BT 344.35 137.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 367.18 137.10 Td (and ) Tj ET Q q 0 0 0 rg BT 384.45 137.10 Td (January ) Tj ET Q q 0 0 0 rg BT 418.37 137.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 443.70 137.10 Td (we ) Tj ET Q q 0 0 0 rg BT 458.19 137.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 486.02 137.10 Td ($381.6 ) Tj ET Q q 0 0 0 rg BT 516.35 137.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.24 137.10 Td ( ) Tj ET Q q 0 0 0 rg BT 548.07 137.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.10 Td ($74.1 ) Tj ET Q q 0 0 0 rg BT 74.13 125.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.02 125.10 Td (, ) Tj ET Q q 0 0 0 rg BT 107.65 125.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 155.31 125.10 Td (, ) Tj ET Q q 0 0 0 rg BT 159.94 125.10 Td (of ) Tj ET Q q 0 0 0 rg BT 170.39 125.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 192.52 125.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 220.76 125.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 255.09 125.10 Td (Notes.� ) Tj ET Q q 0 0 0 rg BT 285.40 125.10 Td (The ) Tj ET Q q 0 0 0 rg BT 303.07 125.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 325.20 125.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 353.44 125.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 387.77 125.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 415.73 125.10 Td (which ) Tj ET Q q 0 0 0 rg BT 442.30 125.10 Td (bear 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(number ) Tj ET Q q 0 0 0 rg BT 375.45 113.10 Td (of ) Tj ET Q q 0 0 0 rg BT 385.70 113.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 417.06 113.10 Td (of�existing ) Tj ET Q q 0 0 0 rg BT 461.48 113.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 487.84 113.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 541.41 113.10 Td (notes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (\(see ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.62 101.10 Td (January ) Tj ET Q q 0 0 0 rg BT 102.41 101.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 124.43 101.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 152.56 101.10 Td (Subor) Tj ET Q q 0 0 0 rg BT 176.08 101.10 Td (dinated ) Tj ET Q q 0 0 0 rg BT 208.09 101.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 229.00 101.10 Td (Exchanges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.34 101.10 Td (and) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 288.78 101.10 Td ( ) Tj ET Q q 0 0 0 rg BT 290.80 101.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 312.82 101.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 340.95 101.10 Td (Subor) Tj ET Q q 0 0 0 rg BT 364.47 101.10 Td (dinated ) Tj ET Q q 0 0 0 rg BT 396.48 101.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 417.39 101.10 Td (Exchanges ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.72 101.10 Td (above\).� ) Tj ET Q q 0 0 0 rg BT 496.81 101.10 Td (The ) Tj ET Q q 0 0 0 rg BT 514.37 101.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 536.39 101.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 84.03 89.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 109.68 89.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 139.76 89.10 Td (on ) Tj ET Q q 0 0 0 rg BT 152.08 89.10 Td (March ) Tj ET Q q 0 0 0 rg BT 180.50 89.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 195.32 89.10 Td (2022, ) Tj ET Q q 0 0 0 rg BT 220.15 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 236.90 89.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 268.66 89.10 Td (is ) Tj ET Q q 0 0 0 rg BT 277.65 89.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 311.06 89.10 Td (semiannually ) Tj ET Q q 0 0 0 rg BT 366.71 89.10 Td (in ) Tj ET Q q 0 0 0 rg BT 376.80 89.10 Td (arrears ) Tj ET Q q 0 0 0 rg BT 406.32 89.10 Td (on ) Tj ET Q q 0 0 0 rg BT 418.64 89.10 Td (March ) Tj ET Q q 0 0 0 rg BT 447.06 89.10 Td (31 ) Tj ET Q q 0 0 0 rg BT 459.38 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 476.14 89.10 Td (September ) Tj ET Q q 0 0 0 rg BT 521.23 89.10 Td (30 ) Tj ET Q q 0 0 0 rg BT 533.55 89.10 Td (of ) Tj ET Q q 0 0 0 rg BT 544.20 89.10 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.10 Td (year) Tj ET Q q 0 0 0 rg BT 66.16 77.10 Td (.� ) Tj ET Q q 0 0 0 rg BT 73.16 77.10 Td (W) Tj ET Q q 0 0 0 rg BT 81.80 77.10 Td (e ) Tj ET Q q 0 0 0 rg BT 88.39 77.10 Td (may ) Tj ET Q q 0 0 0 rg BT 107.77 77.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 139.35 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.73 77.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 175.89 77.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 204.16 77.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 238.53 77.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 264.02 77.10 Td (in ) Tj ET Q q 0 0 0 rg BT 273.95 77.10 Td (whole ) Tj ET Q q 0 0 0 rg BT 300.55 77.10 Td (or ) Tj ET Q q 0 0 0 rg BT 311.04 77.10 Td (in ) Tj ET Q q 0 0 0 rg BT 320.98 77.10 Td (part ) Tj ET Q q 0 0 0 rg BT 338.69 77.10 Td (at ) Tj ET Q q 0 0 0 rg BT 348.06 77.10 Td (our ) Tj ET Q q 0 0 0 rg BT 363.55 77.10 Td (option ) Tj ET Q q 0 0 0 rg BT 391.27 77.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 433.42 77.10 Td (March ) Tj ET Q q 0 0 0 rg BT 461.68 77.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 476.34 77.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 501.00 77.10 Td (at ) Tj ET Q q 0 0 0 rg BT 510.38 77.10 Td (a ) Tj ET Q q 0 0 0 rg BT 516.98 77.10 Td (redemption ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 65.10 Td (price ) Tj ET Q q 0 0 0 rg BT 72.20 65.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 83.25 65.10 Td (109.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 119.08 65.10 Td ( ) Tj ET Q q 0 0 0 rg BT 121.79 65.10 Td (of ) Tj ET Q q 0 0 0 rg BT 132.83 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 147.77 65.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 186.02 65.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 221.23 65.10 Td (and ) Tj ET Q q 0 0 0 rg BT 238.39 65.10 Td (at ) Tj ET Q q 0 0 0 rg BT 248.32 65.10 Td (declining ) Tj ET Q q 0 0 0 rg BT 288.25 65.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 336.50 65.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 363.09 65.10 Td (thereafter) Tj ET Q q 0 0 0 rg BT 400.99 65.10 Td (, ) Tj ET Q q 0 0 0 rg BT 406.21 65.10 Td (as ) Tj ET Q q 0 0 0 rg BT 417.25 65.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 456.06 65.10 Td (in ) Tj ET Q q 0 0 0 rg BT 466.56 65.10 Td (the ) Tj ET Q q 0 0 0 rg BT 481.49 65.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 521.97 65.10 Td (governing ) Tj ET Q endstream endobj 167 0 obj <> endobj 168 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT 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713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 418.45 713.10 Td (an ) Tj ET Q q 0 0 0 rg BT 430.05 713.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 471.08 713.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.58 713.10 Td (35%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.91 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 502.08 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 512.58 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.96 713.10 Td (principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 81.92 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 92.67 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 107.31 701.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 129.74 701.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 158.27 701.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 192.90 701.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 218.66 701.10 Td (at ) Tj ET Q q 0 0 0 rg BT 228.30 701.10 Td (a ) Tj ET Q q 0 0 0 rg BT 235.16 701.10 Td (price ) Tj ET Q q 0 0 0 rg BT 257.57 701.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 268.33 701.10 Td (109.25%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 304.16 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 306.58 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.33 701.10 Td (par ) Tj ET Q q 0 0 0 rg BT 332.53 701.10 Td (with ) Tj ET Q q 0 0 0 rg BT 352.73 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.37 701.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 405.33 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 416.09 701.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 445.71 701.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 473.13 701.10 Td (of) Tj ET Q q 0 0 0 rg BT 481.28 701.10 Td (ferings.� ) Tj ET Q q 0 0 0 rg BT 516.48 701.10 Td (In ) Tj ET Q q 0 0 0 rg BT 527.23 701.10 Td (addition, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (at ) Tj ET Q q 0 0 0 rg BT 59.21 689.10 Td (any ) Tj ET Q q 0 0 0 rg BT 76.14 689.10 Td (time ) Tj ET Q q 0 0 0 rg BT 96.41 689.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 118.34 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 128.61 689.10 Td (March ) Tj ET Q q 0 0 0 rg BT 157.20 689.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 172.19 689.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 197.19 689.10 Td (we ) Tj ET Q q 0 0 0 rg BT 211.34 689.10 Td (may ) Tj ET Q q 0 0 0 rg BT 231.05 689.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 262.96 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 277.67 689.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 300.17 689.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 328.77 689.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 363.47 689.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 389.29 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 399.56 689.10 Td (whole ) Tj ET Q q 0 0 0 rg BT 426.49 689.10 Td (or ) Tj ET Q q 0 0 0 rg BT 437.31 689.10 Td (in ) Tj ET Q q 0 0 0 rg BT 447.59 689.10 Td (part ) Tj ET Q q 0 0 0 rg BT 465.63 689.10 Td (at ) Tj ET Q q 0 0 0 rg BT 475.33 689.10 Td (a ) Tj ET Q q 0 0 0 rg BT 482.27 689.10 Td (price ) Tj ET Q q 0 0 0 rg BT 504.74 689.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 528.89 689.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.16 689.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 562.49 689.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.35 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 75.08 677.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 113.14 677.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 145.65 677.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 164.83 677.10 Td (a ) Tj ET Q q 0 0 0 rg BT 171.79 677.10 Td (�make-whole� ) Tj ET Q q 0 0 0 rg BT 232.61 677.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 271.23 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 288.18 677.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 321.78 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 338.73 677.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 368.47 677.10 Td (interest.� ) Tj ET Q q 0 0 0 rg BT 405.24 677.10 Td (The ) Tj ET Q q 0 0 0 rg BT 423.30 677.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 445.81 677.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 474.44 677.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 509.16 677.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 535.01 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 549.73 677.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 80.33 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 90.60 665.10 Td (any ) Tj ET Q q 0 0 0 rg BT 107.54 665.10 Td (sinking ) Tj ET Q q 0 0 0 rg BT 139.49 665.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 160.32 665.10 Td (requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 641.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.57 641.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 108.10 641.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 136.73 641.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 171.46 641.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 197.31 641.10 Td (are ) Tj ET Q q 0 0 0 rg BT 212.05 641.10 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 258.43 641.10 Td (jointly ) Tj ET Q q 0 0 0 rg BT 287.07 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 304.03 641.10 Td (severally ) Tj ET Q q 0 0 0 rg BT 342.65 641.10 Td (by ) Tj ET Q q 0 0 0 rg BT 355.18 641.10 Td (our ) Tj ET Q q 0 0 0 rg BT 371.03 641.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 420.77 641.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 472.72 641.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 525.80 641.10 Td (all ) Tj ET Q q 0 0 0 rg BT 538.32 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.17 641.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 77.39 629.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 121.11 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 137.61 629.10 Td (income ) Tj ET Q q 0 0 0 rg BT 169.10 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 185.60 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 199.87 629.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 232.46 629.10 Td (by ) Tj ET Q q 0 0 0 rg BT 244.52 629.10 Td (second-priority ) Tj ET Q q 0 0 0 rg BT 307.68 629.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 328.63 629.10 Td (on ) Tj ET Q q 0 0 0 rg BT 340.69 629.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 393.30 629.10 Td (all ) Tj ET Q q 0 0 0 rg BT 405.35 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 415.75 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.02 629.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 455.41 629.10 Td (that ) Tj ET Q q 0 0 0 rg BT 472.47 629.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 500.07 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 514.34 629.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 537.51 629.10 Td (Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 99.32 617.10 Td (which ) Tj ET Q q 0 0 0 rg BT 126.65 617.10 Td (second-priority ) Tj ET Q q 0 0 0 rg BT 190.64 617.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 212.42 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 227.52 617.10 Td (contractually ) Tj ET Q q 0 0 0 rg BT 282.61 617.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 337.16 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 347.84 617.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 369.62 617.10 Td (that ) Tj ET Q q 0 0 0 rg BT 387.51 617.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 415.94 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 432.16 617.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 456.17 617.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 483.42 617.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 530.74 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 548.07 617.10 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (future ) Tj ET Q q 0 0 0 rg BT 75.88 605.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 118.37 605.10 Td (priority ) Tj ET Q q 0 0 0 rg BT 150.86 605.10 Td (lien ) Tj ET Q q 0 0 0 rg BT 168.36 605.10 Td (debt.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 581.10 Td (7�% ) Tj ET Q q 0 0 0 rg BT 93.11 581.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 120.71 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.82 581.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 148.08 581.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 161.19 581.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 194.87 581.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 217.43 581.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 244.42 581.10 Td (due ) Tj ET Q q 0 0 0 rg BT 263.10 581.10 Td (2024. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 288.71 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 291.82 581.10 Td (In ) Tj ET Q q 0 0 0 rg BT 302.58 581.10 Td (August ) Tj ET Q q 0 0 0 rg BT 334.58 581.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 360.20 581.10 Td (we ) Tj ET Q q 0 0 0 rg BT 374.97 581.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.08 581.10 Td ($450.0 ) Tj ET Q q 0 0 0 rg BT 433.70 581.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.59 581.10 Td ( ) Tj ET Q q 0 0 0 rg BT 465.70 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 477.14 581.10 Td (7�% ) Tj ET Q q 0 0 0 rg BT 501.09 581.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 530.31 581.10 Td (Secured ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 81.86 569.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 103.10 569.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 129.35 569.10 Td (due ) Tj ET Q q 0 0 0 rg BT 146.71 569.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 169.63 569.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 188.09 569.10 Td (�2024 ) Tj ET Q q 0 0 0 rg BT 215.45 569.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 244.48 569.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 279.60 569.10 Td (Notes�\). ) Tj ET Q q 0 0 0 rg BT 315.91 569.10 Td (The ) Tj ET Q q 0 0 0 rg BT 334.38 569.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 357.29 569.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 386.32 569.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 421.45 569.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 450.20 569.10 Td (which ) Tj ET Q q 0 0 0 rg BT 477.55 569.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 497.68 569.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 530.03 569.10 Td (at ) Tj ET Q q 0 0 0 rg BT 540.17 569.10 Td (a ) Tj ET Q q 0 0 0 rg BT 547.53 569.10 Td (rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (of�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.33 557.10 Td (7.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.16 557.10 Td (�per ) Tj ET Q q 0 0 0 rg BT 103.52 557.10 Td (annum, ) Tj ET Q q 0 0 0 rg BT 135.33 557.10 Td (were ) Tj ET Q q 0 0 0 rg BT 156.85 557.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 183.94 557.10 Td (at ) Tj ET Q q 0 0 0 rg BT 193.25 557.10 Td (par ) Tj ET Q q 0 0 0 rg BT 208.11 557.10 Td (to ) Tj ET Q q 0 0 0 rg BT 217.98 557.10 Td (repay ) Tj ET Q q 0 0 0 rg BT 242.28 557.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 291.03 557.10 Td (borrowings ) Tj ET Q q 0 0 0 rg BT 338.67 557.10 Td (on ) Tj ET Q q 0 0 0 rg BT 350.77 557.10 Td (our ) Tj ET Q q 0 0 0 rg BT 366.19 557.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 389.39 557.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 416.01 557.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 465.03 557.10 Td (with ) Tj ET Q q 0 0 0 rg BT 484.90 557.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 526.98 557.10 Td (proceeds ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (used ) Tj ET Q q 0 0 0 rg BT 71.53 545.10 Td (for ) Tj ET Q q 0 0 0 rg BT 86.90 545.10 Td (general ) Tj ET Q q 0 0 0 rg BT 120.02 545.10 Td (corporate ) Tj ET Q q 0 0 0 rg BT 161.48 545.10 Td (purposes. ) Tj ET Q q 0 0 0 rg BT 203.24 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 206.67 545.10 Td (The ) Tj ET Q q 0 0 0 rg BT 225.92 545.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 249.63 545.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 279.44 545.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 315.35 545.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 342.38 545.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 373.85 545.10 Td (on ) Tj ET Q q 0 0 0 rg BT 387.56 545.10 Td (February ) Tj ET Q q 0 0 0 rg BT 427.36 545.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 443.56 545.10 Td (2024, ) Tj ET Q q 0 0 0 rg BT 469.76 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 487.91 545.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 521.04 545.10 Td (is ) Tj ET Q q 0 0 0 rg BT 531.42 545.10 Td (payable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (semiannually ) Tj ET Q q 0 0 0 rg BT 104.89 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 114.74 533.10 Td (arrears ) Tj ET Q q 0 0 0 rg BT 144.00 533.10 Td (on ) Tj ET Q q 0 0 0 rg BT 156.07 533.10 Td (February ) Tj ET Q q 0 0 0 rg BT 194.24 533.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 206.31 533.10 Td (and ) Tj ET Q q 0 0 0 rg BT 222.36 533.10 Td (August ) Tj ET Q q 0 0 0 rg BT 253.32 533.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 265.39 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 275.79 533.10 Td (each ) Tj ET Q q 0 0 0 rg BT 296.18 533.10 Td (year) Tj ET Q q 0 0 0 rg BT 312.98 533.10 Td (, ) Tj ET Q q 0 0 0 rg BT 317.55 533.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 359.62 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 369.46 533.10 Td (February ) Tj ET Q q 0 0 0 rg BT 407.63 533.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 432.20 533.10 Td ( ) Tj ET Q q 0 0 0 rg BT 434.12 533.10 Td (W) Tj ET Q q 0 0 0 rg BT 442.76 533.10 Td (e ) Tj ET Q q 0 0 0 rg BT 449.27 533.10 Td (may ) Tj ET Q q 0 0 0 rg BT 468.55 533.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 500.05 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 514.33 533.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 536.40 533.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 84.80 521.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 111.22 521.10 Td (in ) Tj ET Q q 0 0 0 rg BT 122.10 521.10 Td (whole ) Tj ET Q q 0 0 0 rg BT 149.63 521.10 Td (or ) Tj ET Q q 0 0 0 rg BT 161.05 521.10 Td (in ) Tj ET Q q 0 0 0 rg BT 171.92 521.10 Td (part ) Tj ET Q q 0 0 0 rg BT 190.56 521.10 Td (at ) Tj ET Q q 0 0 0 rg BT 200.87 521.10 Td (our ) Tj ET Q q 0 0 0 rg BT 217.30 521.10 Td (option ) Tj ET Q q 0 0 0 rg BT 245.95 521.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 288.35 521.10 Td (August ) Tj ET Q q 0 0 0 rg BT 320.34 521.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 335.93 521.10 Td (2020, ) Tj ET Q q 0 0 0 rg BT 361.52 521.10 Td (at ) Tj ET Q q 0 0 0 rg BT 371.83 521.10 Td (a ) Tj ET Q q 0 0 0 rg BT 379.36 521.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 428.00 521.10 Td (price ) Tj ET Q q 0 0 0 rg BT 451.08 521.10 Td (of�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.91 521.10 Td (103.75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 497.74 521.10 Td (�of ) Tj ET Q q 0 0 0 rg BT 511.66 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.97 521.10 Td (principal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 85.10 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 102.64 509.10 Td (at ) Tj ET Q q 0 0 0 rg BT 112.96 509.10 Td (declining ) Tj ET Q q 0 0 0 rg BT 153.27 509.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 201.91 509.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 228.89 509.10 Td (thereafter) Tj ET Q q 0 0 0 rg BT 266.79 509.10 Td (, ) Tj ET Q q 0 0 0 rg BT 272.40 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 283.83 509.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 323.02 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 333.90 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 349.22 509.10 Td (indenture ) Tj ET Q q 0 0 0 rg BT 390.09 509.10 Td (governing ) Tj ET Q q 0 0 0 rg BT 433.74 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.06 509.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 472.16 509.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 501.37 509.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 536.68 509.10 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 565.01 509.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (Prior ) Tj ET Q q 0 0 0 rg BT 72.55 497.10 Td (to ) Tj ET Q q 0 0 0 rg BT 82.71 497.10 Td (August ) Tj ET Q q 0 0 0 rg BT 114.65 497.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 130.20 497.10 Td (2020, ) Tj ET Q q 0 0 0 rg BT 155.76 497.10 Td (we ) Tj ET Q q 0 0 0 rg BT 170.47 497.10 Td (may ) Tj ET Q q 0 0 0 rg BT 190.74 497.10 Td (at ) Tj ET Q q 0 0 0 rg BT 201.00 497.10 Td (our ) Tj ET Q q 0 0 0 rg BT 217.39 497.10 Td (option ) Tj ET Q q 0 0 0 rg BT 245.99 497.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 278.47 497.10 Td (up ) Tj ET Q q 0 0 0 rg BT 291.52 497.10 Td (to ) Tj ET Q q 0 0 0 rg BT 302.35 497.10 Td (an ) Tj ET Q q 0 0 0 rg BT 314.84 497.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 356.76 497.10 Td (of�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 367.59 497.10 Td (35%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.92 497.10 Td (�of ) Tj ET Q q 0 0 0 rg BT 399.80 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.07 497.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 453.66 497.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 486.71 497.10 Td (of ) Tj ET Q q 0 0 0 rg BT 498.09 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 513.36 497.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 536.41 497.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 84.09 485.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 109.81 485.10 Td (at ) Tj ET Q q 0 0 0 rg BT 119.41 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 126.23 485.10 Td (price ) Tj ET Q q 0 0 0 rg BT 148.60 485.10 Td (of�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.43 485.10 Td (107.50%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.26 485.10 Td (�of ) Tj ET Q q 0 0 0 rg BT 208.48 485.10 Td (par ) Tj ET Q q 0 0 0 rg BT 223.63 485.10 Td (with ) Tj ET Q q 0 0 0 rg BT 243.80 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.40 485.10 Td (proceeds ) Tj ET Q q 0 0 0 rg BT 296.32 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 307.04 485.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 336.62 485.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 364.00 485.10 Td (of) Tj ET Q q 0 0 0 rg BT 372.15 485.10 Td (ferings. ) Tj ET Q q 0 0 0 rg BT 404.81 485.10 Td ( ) Tj ET Q q 0 0 0 rg BT 407.19 485.10 Td (In ) Tj ET Q q 0 0 0 rg BT 417.91 485.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 455.57 485.10 Td (at ) Tj ET Q q 0 0 0 rg BT 465.17 485.10 Td (any ) Tj ET Q q 0 0 0 rg BT 481.99 485.10 Td (time ) Tj ET Q q 0 0 0 rg BT 502.15 485.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 523.98 485.10 Td (to ) Tj ET Q q 0 0 0 rg BT 533.61 485.10 Td (August ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 64.17 473.10 Td (2020, ) Tj ET Q q 0 0 0 rg BT 88.83 473.10 Td (we ) Tj ET Q q 0 0 0 rg BT 102.66 473.10 Td (may ) Tj ET Q q 0 0 0 rg BT 122.04 473.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 153.63 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 168.01 473.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 190.18 473.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 218.45 473.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 252.82 473.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 278.32 473.10 Td (in ) Tj ET Q q 0 0 0 rg BT 288.26 473.10 Td (whole ) Tj ET Q q 0 0 0 rg BT 314.87 473.10 Td (or ) Tj ET Q q 0 0 0 rg BT 325.36 473.10 Td (in ) Tj ET Q q 0 0 0 rg BT 335.31 473.10 Td (part ) Tj ET Q q 0 0 0 rg BT 353.02 473.10 Td (at ) Tj ET Q q 0 0 0 rg BT 362.40 473.10 Td (a ) Tj ET Q q 0 0 0 rg BT 369.00 473.10 Td (price ) Tj ET Q q 0 0 0 rg BT 391.16 473.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 414.98 473.10 Td (to�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.25 473.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.58 473.10 Td (�of ) Tj ET Q q 0 0 0 rg BT 461.58 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 475.96 473.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 513.67 473.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 545.83 473.10 Td (plus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.68 461.10 Td (�make-whole� ) Tj ET Q q 0 0 0 rg BT 117.72 461.10 Td (premium ) Tj ET Q q 0 0 0 rg BT 156.56 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 173.73 461.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 207.56 461.10 Td (and ) Tj ET Q q 0 0 0 rg BT 224.73 461.10 Td (unpaid ) Tj ET Q q 0 0 0 rg BT 254.69 461.10 Td (interest. ) Tj ET Q q 0 0 0 rg BT 289.36 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 291.90 461.10 Td (The ) Tj ET Q q 0 0 0 rg BT 310.19 461.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 332.92 461.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 361.77 461.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 396.72 461.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 422.78 461.10 Td (are ) Tj ET Q q 0 0 0 rg BT 437.73 461.10 Td (not ) Tj ET Q q 0 0 0 rg BT 453.25 461.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 484.31 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 494.83 461.10 Td (any ) Tj ET Q q 0 0 0 rg BT 512.00 461.10 Td (sinking ) Tj ET Q q 0 0 0 rg BT 544.19 461.10 Td (fund ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (requirements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 425.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.57 425.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 108.10 425.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 136.73 425.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 171.46 425.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 197.31 425.10 Td (are ) Tj ET Q q 0 0 0 rg BT 212.05 425.10 Td (guaranteed ) Tj ET Q q 0 0 0 rg BT 258.43 425.10 Td (jointly ) Tj ET Q q 0 0 0 rg BT 287.07 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 304.03 425.10 Td (severally ) Tj ET Q q 0 0 0 rg BT 342.65 425.10 Td (by ) Tj ET Q q 0 0 0 rg BT 355.18 425.10 Td (our ) Tj ET Q q 0 0 0 rg BT 371.03 425.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 420.77 425.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 472.72 425.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 525.80 425.10 Td (all ) Tj ET Q q 0 0 0 rg BT 538.32 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 549.17 425.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (assets, ) Tj ET Q q 0 0 0 rg BT 77.39 413.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 121.11 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 137.61 413.10 Td (income ) Tj ET Q q 0 0 0 rg BT 169.10 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 185.60 413.10 Td (are ) Tj ET Q q 0 0 0 rg BT 199.87 413.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 232.46 413.10 Td (by ) Tj ET Q q 0 0 0 rg BT 244.52 413.10 Td (second-priority ) Tj ET Q q 0 0 0 rg BT 307.68 413.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 328.63 413.10 Td (on ) Tj ET Q q 0 0 0 rg BT 340.69 413.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 393.30 413.10 Td (all ) Tj ET Q q 0 0 0 rg BT 405.35 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 415.75 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.02 413.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 455.41 413.10 Td (that ) Tj ET Q q 0 0 0 rg BT 472.47 413.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 500.07 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 514.34 413.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 537.51 413.10 Td (Credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 99.32 401.10 Td (which ) Tj ET Q q 0 0 0 rg BT 126.65 401.10 Td (second-priority ) Tj ET Q q 0 0 0 rg BT 190.64 401.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 212.42 401.10 Td (are ) Tj ET Q q 0 0 0 rg BT 227.52 401.10 Td (contractually ) Tj ET Q q 0 0 0 rg BT 282.61 401.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 337.16 401.10 Td (to ) Tj ET Q q 0 0 0 rg BT 347.84 401.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 369.62 401.10 Td (that ) Tj ET Q q 0 0 0 rg BT 387.51 401.10 Td (secure ) Tj ET Q q 0 0 0 rg BT 415.94 401.10 Td (our ) Tj ET Q q 0 0 0 rg BT 432.16 401.10 Td (Bank ) Tj ET Q q 0 0 0 rg BT 456.17 401.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 483.42 401.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 530.74 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 548.07 401.10 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (future ) Tj ET Q q 0 0 0 rg BT 75.88 389.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 118.37 389.10 Td (priority ) Tj ET Q q 0 0 0 rg BT 150.86 389.10 Td (lien ) Tj ET Q q 0 0 0 rg BT 168.36 389.10 Td (debt.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 365.10 Td (Restrictive ) Tj ET Q q 0 0 0 rg BT 116.14 365.10 Td (Covenants ) Tj ET Q q 0 0 0 rg BT 163.71 365.10 Td (in ) Tj ET Q q 0 0 0 rg BT 174.61 365.10 Td (Indentur) Tj ET Q q 0 0 0 rg BT 212.77 365.10 Td (es ) Tj ET Q q 0 0 0 rg BT 223.66 365.10 Td (for) Tj ET Q q 0 0 0 rg BT 236.25 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 238.81 365.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 266.41 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 268.97 365.10 Td (Secur) Tj ET Q q 0 0 0 rg BT 293.23 365.10 Td (ed ) Tj ET Q q 0 0 0 rg BT 305.79 365.10 Td (Second ) Tj ET Q q 0 0 0 rg BT 338.91 365.10 Td (Lien ) Tj ET Q q 0 0 0 rg BT 360.92 365.10 Td (Notes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.30 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 389.86 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 392.42 365.10 Td (Each ) Tj ET Q q 0 0 0 rg BT 414.96 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 425.85 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 440.63 365.10 Td (indentures ) Tj ET Q q 0 0 0 rg BT 484.85 365.10 Td (for ) Tj ET Q q 0 0 0 rg BT 499.07 365.10 Td (the ) Tj ET Q q 0 0 0 rg BT 513.84 365.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 536.40 365.10 Td (Senior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 85.32 353.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 114.77 353.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 138.39 353.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 168.11 353.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 203.94 353.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 230.89 353.10 Td (and ) Tj ET Q q 0 0 0 rg BT 248.94 353.10 Td (2024 ) Tj ET Q q 0 0 0 rg BT 272.56 353.10 Td (Senior ) Tj ET Q q 0 0 0 rg BT 302.28 353.10 Td (Secured ) Tj ET Q q 0 0 0 rg BT 338.11 353.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 365.06 353.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 402.00 353.10 Td (customary ) Tj ET Q q 0 0 0 rg BT 447.27 353.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 490.87 353.10 Td (that ) Tj ET Q q 0 0 0 rg BT 509.49 353.10 Td (are ) Tj ET Q q 0 0 0 rg BT 525.31 353.10 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 91.24 341.10 Td (and ) Tj ET Q q 0 0 0 rg BT 107.42 341.10 Td (that ) Tj ET Q q 0 0 0 rg BT 124.15 341.10 Td (restrict ) Tj ET Q q 0 0 0 rg BT 153.66 341.10 Td (our ) Tj ET Q q 0 0 0 rg BT 168.73 341.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 196.02 341.10 Td (and ) Tj ET Q q 0 0 0 rg BT 212.20 341.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.16 341.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 253.45 341.10 Td (of ) Tj ET Q q 0 0 0 rg BT 263.52 341.10 Td (our ) Tj ET Q q 0 0 0 rg BT 278.59 341.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 317.53 341.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 366.49 341.10 Td (to ) Tj ET Q q 0 0 0 rg BT 376.01 341.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 389.41 341.10 Td (incur ) Tj ET Q q 0 0 0 rg BT 411.70 341.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 453.43 341.10 Td (debt; ) Tj ET Q q 0 0 0 rg BT 475.16 341.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 488.56 341.10 Td (make ) Tj ET Q q 0 0 0 rg BT 511.96 341.10 Td (investments; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 64.70 329.10 Td (create ) Tj ET Q q 0 0 0 rg BT 92.10 329.10 Td (liens ) Tj ET Q q 0 0 0 rg BT 114.52 329.10 Td (on ) Tj ET Q q 0 0 0 rg BT 128.06 329.10 Td (our ) Tj ET Q q 0 0 0 rg BT 144.92 329.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 171.79 329.10 Td (or ) Tj ET Q q 0 0 0 rg BT 183.66 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.41 329.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 226.28 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.14 329.10 Td (our ) Tj ET Q q 0 0 0 rg BT 255.01 329.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 295.75 329.10 Td (subsidiaries; ) Tj ET Q q 0 0 0 rg BT 349.28 329.10 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 364.48 329.10 Td (create ) Tj ET Q q 0 0 0 rg BT 391.88 329.10 Td (limitations ) Tj ET Q q 0 0 0 rg BT 438.19 329.10 Td (on ) Tj ET Q q 0 0 0 rg BT 451.73 329.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.48 329.10 Td (ability ) Tj ET Q q 0 0 0 rg BT 496.57 329.10 Td (of ) Tj ET Q q 0 0 0 rg BT 508.44 329.10 Td (our ) Tj ET Q q 0 0 0 rg BT 525.30 329.10 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 317.10 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 99.25 317.10 Td (to ) Tj ET Q q 0 0 0 rg BT 109.56 317.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 126.53 317.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 167.95 317.10 Td (or ) Tj ET Q q 0 0 0 rg BT 178.82 317.10 Td (make ) Tj ET Q q 0 0 0 rg BT 203.00 317.10 Td (other ) Tj ET Q q 0 0 0 rg BT 226.08 317.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 266.94 317.10 Td (to ) Tj ET Q q 0 0 0 rg BT 277.25 317.10 Td (DRI ) Tj ET Q q 0 0 0 rg BT 297.01 317.10 Td (or ) Tj ET Q q 0 0 0 rg BT 307.87 317.10 Td (other ) Tj ET Q q 0 0 0 rg BT 330.95 317.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 370.69 317.10 Td (subsidiaries; ) Tj ET Q q 0 0 0 rg BT 423.22 317.10 Td (\(5\) ) Tj ET Q q 0 0 0 rg BT 437.41 317.10 Td (engage ) Tj ET Q q 0 0 0 rg BT 468.26 317.10 Td (in ) Tj ET Q q 0 0 0 rg BT 478.57 317.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 528.87 317.10 Td (with ) Tj ET Q q 0 0 0 rg BT 549.18 317.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 305.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.09 305.10 Td (filiates; ) Tj ET Q q 0 0 0 rg BT 89.59 305.10 Td (\(6\) ) Tj ET Q q 0 0 0 rg BT 103.76 305.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 136.80 305.10 Td (or ) Tj ET Q q 0 0 0 rg BT 147.64 305.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 164.04 305.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 189.88 305.10 Td (or ) Tj ET Q q 0 0 0 rg BT 200.71 305.10 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 244.33 305.10 Td (stock; ) Tj ET Q q 0 0 0 rg BT 270.73 305.10 Td (\(7\) ) Tj ET Q q 0 0 0 rg BT 284.90 305.10 Td (consolidate, ) Tj ET Q q 0 0 0 rg BT 335.45 305.10 Td (mer) Tj ET Q q 0 0 0 rg BT 350.81 305.10 Td (ge ) Tj ET Q q 0 0 0 rg BT 362.76 305.10 Td (or ) Tj ET Q q 0 0 0 rg BT 373.60 305.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 406.64 305.10 Td (all ) Tj ET Q q 0 0 0 rg BT 419.15 305.10 Td (or ) Tj ET Q q 0 0 0 rg BT 429.99 305.10 Td (substantially ) Tj ET Q q 0 0 0 rg BT 483.05 305.10 Td (all ) Tj ET Q q 0 0 0 rg BT 495.55 305.10 Td (of ) Tj ET Q q 0 0 0 rg BT 506.39 305.10 Td (our ) Tj ET Q q 0 0 0 rg BT 522.23 305.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 548.07 305.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.85 293.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 89.30 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 99.76 293.10 Td (our ) Tj ET Q q 0 0 0 rg BT 115.22 293.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 154.55 293.10 Td (subsidiaries; ) Tj ET Q q 0 0 0 rg BT 206.68 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 223.25 293.10 Td (\(8\)�make ) Tj ET Q q 0 0 0 rg BT 261.19 293.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 300.52 293.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 340.97 293.10 Td (\(which ) Tj ET Q q 0 0 0 rg BT 370.87 293.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 406.33 293.10 Td (paying ) Tj ET Q q 0 0 0 rg BT 435.67 293.10 Td (dividends ) Tj ET Q q 0 0 0 rg BT 476.69 293.10 Td (on ) Tj ET Q q 0 0 0 rg BT 488.82 293.10 Td (our ) Tj ET Q q 0 0 0 rg BT 504.28 293.10 Td (common ) Tj ET Q q 0 0 0 rg BT 541.40 293.10 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (or ) Tj ET Q q 0 0 0 rg BT 60.45 281.10 Td (redeeming, ) Tj ET Q q 0 0 0 rg BT 107.76 281.10 Td (repurchasing ) Tj ET Q q 0 0 0 rg BT 162.03 281.10 Td (or ) Tj ET Q q 0 0 0 rg BT 172.97 281.10 Td (retiring ) Tj ET Q q 0 0 0 rg BT 205.02 281.10 Td (such ) Tj ET Q q 0 0 0 rg BT 225.97 281.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 249.69 281.10 Td (or ) Tj ET Q q 0 0 0 rg BT 260.64 281.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 314.91 281.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 334.74 281.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 378.46 281.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 412.75 281.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 439.80 281.10 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 494.07 281.10 Td (notes\)\), ) Tj ET Q q 0 0 0 rg BT 526.96 281.10 Td (provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.10 Td (that ) Tj ET Q q 0 0 0 rg BT 66.89 269.10 Td (in ) Tj ET Q q 0 0 0 rg BT 77.07 269.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 106.67 269.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 165.71 269.10 Td (we ) Tj ET Q q 0 0 0 rg BT 179.77 269.10 Td (may ) Tj ET Q q 0 0 0 rg BT 199.39 269.10 Td (make ) Tj ET Q q 0 0 0 rg BT 223.44 269.10 Td (unlimited ) Tj ET Q q 0 0 0 rg BT 264.17 269.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 303.77 269.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 344.50 269.10 Td (so ) Tj ET Q q 0 0 0 rg BT 355.79 269.10 Td (long ) Tj ET Q q 0 0 0 rg BT 375.96 269.10 Td (as ) Tj ET Q q 0 0 0 rg BT 386.69 269.10 Td (we ) Tj ET Q q 0 0 0 rg BT 400.75 269.10 Td (maintain ) Tj ET Q q 0 0 0 rg BT 438.14 269.10 Td (a ) Tj ET Q q 0 0 0 rg BT 444.98 269.10 Td (ratio ) Tj ET Q q 0 0 0 rg BT 465.70 269.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.43 269.10 Td (total ) Tj ET Q q 0 0 0 rg BT 496.60 269.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 516.22 269.10 Td (to ) Tj ET Q q 0 0 0 rg BT 526.40 269.10 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 562.50 269.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.10 Td (\(as ) Tj ET Q q 0 0 0 rg BT 62.55 257.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 93.93 257.10 Td (in ) Tj ET Q q 0 0 0 rg BT 103.10 257.10 Td (the ) Tj ET Q q 0 0 0 rg BT 116.71 257.10 Td (indentures\) ) Tj ET Q q 0 0 0 rg BT 163.09 257.10 Td (not ) Tj ET Q q 0 0 0 rg BT 177.26 257.10 Td (to ) Tj ET Q q 0 0 0 rg BT 186.43 257.10 Td (exceed�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.69 257.10 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 229.19 257.10 Td (�to�1.0�\(both ) Tj ET Q q 0 0 0 rg BT 279.47 257.10 Td (before ) Tj ET Q q 0 0 0 rg BT 306.40 257.10 Td (and ) Tj ET Q q 0 0 0 rg BT 322.23 257.10 Td (after ) Tj ET Q q 0 0 0 rg BT 341.94 257.10 Td (giving ) Tj ET Q q 0 0 0 rg BT 368.89 257.10 Td (ef) Tj ET Q q 0 0 0 rg BT 376.48 257.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 392.85 257.10 Td (to ) Tj ET Q q 0 0 0 rg BT 402.03 257.10 Td (any ) Tj ET Q q 0 0 0 rg BT 417.86 257.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 456.45 257.10 Td (payment\). ) Tj ET Q q 0 0 0 rg BT 498.11 257.10 Td ( ) Tj ET Q q 0 0 0 rg BT 499.19 257.10 Td (As ) Tj ET Q q 0 0 0 rg BT 511.70 257.10 Td (of ) Tj ET Q q 0 0 0 rg BT 521.42 257.10 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 64.50 245.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 89.50 245.10 Td (we ) Tj ET Q q 0 0 0 rg BT 103.66 245.10 Td (were ) Tj ET Q q 0 0 0 rg BT 125.59 245.10 Td (in ) Tj ET Q q 0 0 0 rg BT 135.87 245.10 Td (compliance ) Tj ET Q q 0 0 0 rg BT 184.46 245.10 Td (with ) Tj ET Q q 0 0 0 rg BT 204.73 245.10 Td (all ) Tj ET Q q 0 0 0 rg BT 217.23 245.10 Td (debt ) Tj ET Q q 0 0 0 rg BT 236.95 245.10 Td (covenants ) Tj ET Q q 0 0 0 rg BT 279.43 245.10 Td (under ) Tj ET Q q 0 0 0 rg BT 304.70 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 319.42 245.10 Td (indentures ) Tj ET Q q 0 0 0 rg BT 363.57 245.10 Td (related ) Tj ET Q q 0 0 0 rg BT 393.27 245.10 Td (to ) Tj ET Q q 0 0 0 rg BT 403.55 245.10 Td (our ) Tj ET Q q 0 0 0 rg BT 419.38 245.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 446.32 245.10 Td (secured ) Tj ET Q q 0 0 0 rg BT 479.36 245.10 Td (second ) Tj ET Q q 0 0 0 rg BT 509.63 245.10 Td (lien ) Tj ET Q q 0 0 0 rg BT 527.12 245.10 Td (notes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 77.10 221.10 Td ( ) Tj ET Q q 0 0 0 rg BT 79.60 221.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 140.45 221.10 Td (Notes) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 197.10 Td (6) Tj ET Q /GS0 gs q 7.50 0 0 9.93 72.50 194.94 cm /I29 Do Q q 0 0 0 rg BT 80.00 197.10 Td (% ) Tj ET Q q 0 0 0 rg BT 92.90 197.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 120.49 197.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.39 197.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 184.64 197.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 211.42 197.10 Td (due ) Tj ET Q q 0 0 0 rg BT 229.88 197.10 Td (2021) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 249.88 197.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.38 197.10 Td ( ) Tj ET Q q 0 0 0 rg BT 255.28 197.10 Td ( ) Tj ET Q q 0 0 0 rg BT 258.17 197.10 Td (In ) Tj ET Q q 0 0 0 rg BT 269.40 197.10 Td (February ) Tj ET Q q 0 0 0 rg BT 308.40 197.10 Td (201) Tj ET Q q 0 0 0 rg BT 323.03 197.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 333.42 197.10 Td (we ) Tj ET Q q 0 0 0 rg BT 347.98 197.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.88 197.10 Td ($400 ) Tj ET Q q 0 0 0 rg BT 398.77 197.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 427.67 197.10 Td ( ) Tj ET Q q 0 0 0 rg BT 430.56 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 441.79 197.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 464.69 197.10 Td (Notes.��) Tj ET Q q 0 0 0 rg BT 495.34 197.10 Td (The ) Tj ET Q q 0 0 0 rg BT 513.78 197.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 536.68 197.10 Td (Notes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (which ) Tj ET Q q 0 0 0 rg BT 76.56 185.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 96.38 185.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 128.43 185.10 Td (at ) Tj ET Q q 0 0 0 rg BT 138.26 185.10 Td (a ) Tj ET Q q 0 0 0 rg BT 145.32 185.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 162.92 185.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.87 185.10 Td (6.375%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.70 185.10 Td ( ) Tj ET Q q 0 0 0 rg BT 207.32 185.10 Td (per ) Tj ET Q q 0 0 0 rg BT 222.70 185.10 Td (annum, ) Tj ET Q q 0 0 0 rg BT 255.04 185.10 Td (were ) Tj ET Q q 0 0 0 rg BT 277.08 185.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 296.37 185.10 Td (at ) Tj ET Q q 0 0 0 rg BT 306.20 185.10 Td (par) Tj ET Q q 0 0 0 rg BT 318.42 185.10 Td (. ) Tj ET Q q 0 0 0 rg BT 323.54 185.10 Td ( ) Tj ET Q q 0 0 0 rg BT 325.97 185.10 Td (The ) Tj ET Q q 0 0 0 rg BT 344.13 185.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 366.75 185.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 392.69 185.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 423.08 185.10 Td (on ) Tj ET Q q 0 0 0 rg BT 435.12 185.10 Td (August�15, ) Tj ET Q q 0 0 0 rg BT 481.62 185.10 Td (2021, ) Tj ET Q q 0 0 0 rg BT 506.74 185.10 Td (and ) Tj ET Q q 0 0 0 rg BT 523.80 185.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 555.85 185.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 83.58 173.10 Td (on ) Tj ET Q q 0 0 0 rg BT 96.56 173.10 Td (February ) Tj ET Q q 0 0 0 rg BT 135.64 173.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 148.63 173.10 Td (and ) Tj ET Q q 0 0 0 rg BT 165.39 173.10 Td (August ) Tj ET Q q 0 0 0 rg BT 197.26 173.10 Td (15 ) Tj ET Q q 0 0 0 rg BT 210.25 173.10 Td (of ) Tj ET Q q 0 0 0 rg BT 221.56 173.10 Td (each ) Tj ET Q q 0 0 0 rg BT 242.86 173.10 Td (year) Tj ET Q q 0 0 0 rg BT 259.52 173.10 Td (.��) Tj ET Q q 0 0 0 rg BT 266.46 173.10 Td (At ) Tj ET Q q 0 0 0 rg BT 279.45 173.10 Td (any ) Tj ET Q q 0 0 0 rg BT 296.87 173.10 Td (time ) Tj ET Q q 0 0 0 rg BT 317.63 173.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 340.05 173.10 Td (to ) Tj ET Q q 0 0 0 rg BT 350.15 173.10 Td (August ) Tj ET Q q 0 0 0 rg BT 382.03 173.10 Td (15, ) Tj ET Q q 0 0 0 rg BT 397.51 173.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 422.99 173.10 Td (we ) Tj ET Q q 0 0 0 rg BT 437.64 173.10 Td (may ) Tj ET Q q 0 0 0 rg BT 457.84 173.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 490.24 173.10 Td (the ) Tj ET Q q 0 0 0 rg BT 505.44 173.10 Td (2021 ) Tj ET Q q 0 0 0 rg BT 528.43 173.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 554.74 173.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (whole ) Tj ET Q q 0 0 0 rg BT 77.16 161.10 Td (or ) Tj ET Q q 0 0 0 rg BT 88.71 161.10 Td (in ) Tj ET Q q 0 0 0 rg BT 99.70 161.10 Td (part ) Tj ET Q q 0 0 0 rg BT 118.47 161.10 Td (at ) Tj ET Q q 0 0 0 rg BT 128.91 161.10 Td (our ) Tj ET Q q 0 0 0 rg BT 145.46 161.10 Td (option ) Tj ET Q q 0 0 0 rg BT 174.23 161.10 Td (at ) Tj ET Q q 0 0 0 rg BT 184.67 161.10 Td (a ) Tj ET Q q 0 0 0 rg BT 192.33 161.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 241.09 161.10 Td (price ) Tj ET Q q 0 0 0 rg BT 264.29 161.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.84 161.10 Td (101.062%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.67 161.10 Td ( ) Tj ET Q q 0 0 0 rg BT 319.89 161.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.44 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 346.88 161.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 385.64 161.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 421.35 161.10 Td (and ) Tj ET Q q 0 0 0 rg BT 439.01 161.10 Td (at ) Tj ET Q q 0 0 0 rg BT 449.44 161.10 Td (declining ) Tj ET Q q 0 0 0 rg BT 489.88 161.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 538.64 161.10 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (thereafter) Tj ET Q q 0 0 0 rg BT 87.40 149.10 Td (, ) Tj ET Q q 0 0 0 rg BT 92.40 149.10 Td (as ) Tj ET Q q 0 0 0 rg BT 103.23 149.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 141.82 149.10 Td (in ) Tj ET Q q 0 0 0 rg BT 152.10 149.10 Td (the ) Tj ET Q q 0 0 0 rg BT 166.82 149.10 Td (indenture.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 125.10 Td (5�% ) Tj ET Q q 0 0 0 rg BT 92.29 125.10 Td (Senior) Tj ET Q q 0 0 0 rg BT 119.89 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 122.18 125.10 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 182.82 125.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 208.99 125.10 Td (due ) Tj ET Q q 0 0 0 rg BT 226.85 125.10 Td (2022. ) Tj ET Q q 0 0 0 rg BT 251.64 125.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.93 125.10 Td (In ) Tj ET Q q 0 0 0 rg BT 264.04 125.10 Td (April ) Tj ET Q q 0 0 0 rg BT 287.44 125.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 312.23 125.10 Td (we ) Tj ET Q q 0 0 0 rg BT 326.18 125.10 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.47 125.10 Td ($1.25 ) Tj ET Q q 0 0 0 rg BT 378.26 125.10 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 404.37 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 406.66 125.10 Td (of ) Tj ET Q q 0 0 0 rg BT 417.28 125.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 439.57 125.10 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 467.69 125.10 Td ( ) Tj ET Q q 0 0 0 rg BT 469.82 125.10 Td (The ) Tj ET Q q 0 0 0 rg BT 487.65 125.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 509.94 125.10 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 538.06 125.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.10 Td (bear ) Tj ET Q q 0 0 0 rg BT 69.55 113.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 101.83 113.10 Td (at ) Tj ET Q q 0 0 0 rg BT 111.89 113.10 Td (a ) Tj ET Q q 0 0 0 rg BT 119.18 113.10 Td (rate ) Tj ET Q q 0 0 0 rg BT 137.01 113.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 148.19 113.10 Td (5.5%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.02 113.10 Td ( ) Tj ET Q q 0 0 0 rg BT 171.86 113.10 Td (per ) Tj ET Q q 0 0 0 rg BT 187.48 113.10 Td (annum, ) Tj ET Q q 0 0 0 rg BT 220.04 113.10 Td (were ) Tj ET Q q 0 0 0 rg BT 242.31 113.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 261.83 113.10 Td (at ) Tj ET Q q 0 0 0 rg BT 271.89 113.10 Td (par) Tj ET Q q 0 0 0 rg BT 284.11 113.10 Td (. ) Tj ET Q q 0 0 0 rg BT 289.45 113.10 Td ( ) Tj ET Q q 0 0 0 rg BT 292.09 113.10 Td (The ) Tj ET Q q 0 0 0 rg BT 310.49 113.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 333.33 113.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 359.51 113.10 Td (mature ) Tj ET Q q 0 0 0 rg BT 390.12 113.10 Td (on ) Tj ET Q q 0 0 0 rg BT 402.96 113.10 Td (May�1, ) Tj ET Q q 0 0 0 rg BT 434.14 113.10 Td (2022, ) Tj ET Q q 0 0 0 rg BT 459.48 113.10 Td (and ) Tj ET Q q 0 0 0 rg BT 476.77 113.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 509.05 113.10 Td (is ) Tj ET Q q 0 0 0 rg BT 518.56 113.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 552.50 113.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 101.10 Td (May ) Tj ET Q q 0 0 0 rg BT 70.13 101.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 77.43 101.10 Td (and ) Tj ET Q q 0 0 0 rg BT 94.17 101.10 Td (November ) Tj ET Q q 0 0 0 rg BT 138.68 101.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 145.98 101.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.61 101.10 Td (each ) Tj ET Q q 0 0 0 rg BT 177.23 101.10 Td (year) Tj ET Q q 0 0 0 rg BT 193.89 101.10 Td (. ) Tj ET Q q 0 0 0 rg BT 198.69 101.10 Td ( ) Tj ET Q q 0 0 0 rg BT 200.48 101.10 Td (At ) Tj ET Q q 0 0 0 rg BT 212.78 101.10 Td (any ) Tj ET Q q 0 0 0 rg BT 229.52 101.10 Td (time ) Tj ET Q q 0 0 0 rg BT 249.60 101.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 271.33 101.10 Td (to ) Tj ET Q q 0 0 0 rg BT 281.41 101.10 Td (May ) Tj ET Q q 0 0 0 rg BT 302.05 101.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 311.85 101.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 336.65 101.10 Td (we ) Tj ET Q q 0 0 0 rg BT 350.61 101.10 Td (may ) Tj ET Q q 0 0 0 rg BT 370.13 101.10 Td (redeem ) Tj ET Q q 0 0 0 rg BT 401.85 101.10 Td (the ) Tj ET Q q 0 0 0 rg BT 416.37 101.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 438.67 101.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 464.30 101.10 Td (in ) Tj ET Q q 0 0 0 rg BT 474.38 101.10 Td (whole ) Tj ET Q q 0 0 0 rg BT 501.12 101.10 Td (or ) Tj ET Q q 0 0 0 rg BT 511.75 101.10 Td (in ) Tj ET Q q 0 0 0 rg BT 521.83 101.10 Td (part ) Tj ET Q q 0 0 0 rg BT 539.68 101.10 Td (at ) Tj ET Q q 0 0 0 rg BT 549.20 101.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 89.10 Td (option, ) Tj ET Q q 0 0 0 rg BT 80.14 89.10 Td (at ) Tj ET Q q 0 0 0 rg BT 89.94 89.10 Td (a ) Tj ET Q q 0 0 0 rg BT 96.97 89.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 145.10 89.10 Td (price ) Tj ET Q q 0 0 0 rg BT 167.67 89.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 178.58 89.10 Td (102.750%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.41 89.10 Td ( ) Tj ET Q q 0 0 0 rg BT 222.00 89.10 Td (of ) Tj ET Q q 0 0 0 rg BT 232.91 89.10 Td (the ) Tj ET Q q 0 0 0 rg BT 247.72 89.10 Td (principal ) Tj ET Q q 0 0 0 rg BT 285.84 89.10 Td (amount, ) Tj ET Q q 0 0 0 rg BT 320.92 89.10 Td (and ) Tj ET Q q 0 0 0 rg BT 337.95 89.10 Td (at ) Tj ET Q q 0 0 0 rg BT 347.75 89.10 Td (declining ) Tj ET Q q 0 0 0 rg BT 387.55 89.10 Td (redemption ) Tj ET Q q 0 0 0 rg BT 435.67 89.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 462.14 89.10 Td (thereafter) Tj ET Q q 0 0 0 rg BT 500.04 89.10 Td (, ) Tj ET Q q 0 0 0 rg BT 505.12 89.10 Td (as ) Tj ET Q q 0 0 0 rg BT 516.04 89.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 554.72 89.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 77.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 77.10 Td (indenture. ) Tj ET Q q 0 0 0 rg BT 106.98 77.10 Td ( ) Tj ET Q q 0 0 0 rg BT 109.30 77.10 Td (The ) Tj ET Q q 0 0 0 rg BT 127.35 77.10 Td (2022 ) Tj ET Q q 0 0 0 rg BT 149.85 77.10 Td (Notes ) Tj ET Q q 0 0 0 rg BT 175.68 77.10 Td (are ) Tj ET Q q 0 0 0 rg BT 190.38 77.10 Td (not ) Tj ET Q q 0 0 0 rg BT 205.66 77.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 236.49 77.10 Td (to ) Tj ET Q q 0 0 0 rg BT 246.77 77.10 Td (any ) Tj ET Q q 0 0 0 rg BT 263.70 77.10 Td (sinking ) Tj ET Q q 0 0 0 rg BT 295.65 77.10 Td (fund ) Tj ET Q q 0 0 0 rg BT 316.48 77.10 Td (requirements.) Tj ET Q endstream endobj 169 0 obj <> endobj 170 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (84) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 713.25 Td (4) Tj ET Q /GS0 gs q 7.50 0 0 9.93 72.50 711.09 cm /I30 Do Q q 0 0 0 rg BT 80.00 713.25 Td (% ) Tj ET Q q 0 0 0 rg BT 93.10 713.25 Td (Senior) Tj ET Q q 0 0 0 rg BT 120.70 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 123.81 713.25 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 185.27 713.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 212.25 713.25 Td (due ) Tj ET Q q 0 0 0 rg BT 230.92 713.25 Td (2023) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 250.92 713.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.42 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 256.52 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 259.63 713.25 Td (In ) Tj ET Q q 0 0 0 rg BT 271.06 713.25 Td (February ) Tj ET Q q 0 0 0 rg BT 310.26 713.25 Td (2013, ) Tj ET Q q 0 0 0 rg BT 335.87 713.25 Td (we ) Tj ET Q q 0 0 0 rg BT 350.63 713.25 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.74 713.25 Td ($1.2 ) Tj ET Q q 0 0 0 rg BT 399.34 713.25 Td (billion) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 425.46 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 428.56 713.25 Td (of ) Tj ET Q q 0 0 0 rg BT 440.00 713.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 463.10 713.25 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 492.03 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 494.91 713.25 Td (The ) Tj ET Q q 0 0 0 rg BT 513.57 713.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 536.67 713.25 Td (Notes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.25 Td (which ) Tj ET Q q 0 0 0 rg BT 77.04 701.25 Td (bear ) Tj ET Q q 0 0 0 rg BT 97.35 701.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 129.89 701.25 Td (at ) Tj ET Q q 0 0 0 rg BT 140.21 701.25 Td (a ) Tj ET Q q 0 0 0 rg BT 147.75 701.25 Td (rate ) Tj ET Q q 0 0 0 rg BT 165.84 701.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 177.27 701.25 Td (4.625%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.10 701.25 Td ( ) Tj ET Q q 0 0 0 rg BT 211.20 701.25 Td (per ) Tj ET Q q 0 0 0 rg BT 227.08 701.25 Td (annum, ) Tj ET Q q 0 0 0 rg BT 259.90 701.25 Td (were ) Tj ET Q q 0 0 0 rg BT 282.43 701.25 Td (sold ) Tj ET Q q 0 0 0 rg BT 302.20 701.25 Td (at ) Tj ET Q q 0 0 0 rg BT 312.52 701.25 Td (par) Tj ET Q q 0 0 0 rg BT 324.74 701.25 Td (. ) Tj ET Q q 0 0 0 rg BT 330.34 701.25 Td ( ) Tj ET Q q 0 0 0 rg BT 333.22 701.25 Td (The ) Tj ET Q q 0 0 0 rg BT 351.87 701.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 374.97 701.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 401.40 701.25 Td (mature ) Tj ET Q q 0 0 0 rg BT 432.27 701.25 Td (on ) Tj ET Q q 0 0 0 rg BT 445.37 701.25 Td (July�15, ) Tj ET Q q 0 0 0 rg BT 480.15 701.25 Td (2023, ) Tj ET Q q 0 0 0 rg BT 505.75 701.25 Td (and ) Tj ET Q q 0 0 0 rg BT 523.29 701.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 555.83 701.25 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.25 Td (payable ) Tj ET Q q 0 0 0 rg BT 83.01 689.25 Td (on ) Tj ET Q q 0 0 0 rg BT 95.43 689.25 Td (January ) Tj ET Q q 0 0 0 rg BT 128.94 689.25 Td (15 ) Tj ET Q q 0 0 0 rg BT 141.36 689.25 Td (and ) Tj ET Q q 0 0 0 rg BT 158.22 689.25 Td (July ) Tj ET Q q 0 0 0 rg BT 177.30 689.25 Td (15 ) Tj ET Q q 0 0 0 rg BT 189.72 689.25 Td (of ) Tj ET Q q 0 0 0 rg BT 200.47 689.25 Td (each ) Tj ET Q q 0 0 0 rg BT 221.20 689.25 Td (year) Tj ET Q q 0 0 0 rg BT 237.85 689.25 Td (. ) Tj ET Q q 0 0 0 rg BT 242.77 689.25 Td ( ) Tj ET Q q 0 0 0 rg BT 244.66 689.25 Td (At ) Tj ET Q q 0 0 0 rg BT 257.07 689.25 Td (any ) Tj ET Q q 0 0 0 rg BT 273.93 689.25 Td (time ) Tj ET Q q 0 0 0 rg BT 294.12 689.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 315.97 689.25 Td (to ) Tj ET Q q 0 0 0 rg BT 326.17 689.25 Td (January ) Tj ET Q q 0 0 0 rg BT 359.68 689.25 Td (15, ) Tj ET Q q 0 0 0 rg BT 374.60 689.25 Td (2020, ) Tj ET Q q 0 0 0 rg BT 399.52 689.25 Td (we ) Tj ET Q q 0 0 0 rg BT 413.60 689.25 Td (may ) Tj ET Q q 0 0 0 rg BT 433.23 689.25 Td (redeem ) Tj ET Q q 0 0 0 rg BT 465.07 689.25 Td (the ) Tj ET Q q 0 0 0 rg BT 479.70 689.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 502.12 689.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 527.87 689.25 Td (in ) Tj ET Q q 0 0 0 rg BT 538.06 689.25 Td (whole ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (or ) Tj ET Q q 0 0 0 rg BT 60.29 677.25 Td (in ) Tj ET Q q 0 0 0 rg BT 70.53 677.25 Td (part ) Tj ET Q q 0 0 0 rg BT 88.53 677.25 Td (at ) Tj ET Q q 0 0 0 rg BT 98.21 677.25 Td (our ) Tj ET Q q 0 0 0 rg BT 113.99 677.25 Td (option ) Tj ET Q q 0 0 0 rg BT 142.01 677.25 Td (at ) Tj ET Q q 0 0 0 rg BT 151.69 677.25 Td (a ) Tj ET Q q 0 0 0 rg BT 158.58 677.25 Td (redemption ) Tj ET Q q 0 0 0 rg BT 206.58 677.25 Td (price ) Tj ET Q q 0 0 0 rg BT 229.03 677.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 239.81 677.25 Td (101.542%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 280.65 677.25 Td ( ) Tj ET Q q 0 0 0 rg BT 283.10 677.25 Td (of ) Tj ET Q q 0 0 0 rg BT 293.89 677.25 Td (the ) Tj ET Q q 0 0 0 rg BT 308.57 677.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 346.57 677.25 Td (amount, ) Tj ET Q q 0 0 0 rg BT 381.52 677.25 Td (and ) Tj ET Q q 0 0 0 rg BT 398.42 677.25 Td (at ) Tj ET Q q 0 0 0 rg BT 408.09 677.25 Td (declining ) Tj ET Q q 0 0 0 rg BT 447.76 677.25 Td (redemption ) Tj ET Q q 0 0 0 rg BT 495.76 677.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 522.10 677.25 Td (thereafter) Tj ET Q q 0 0 0 rg BT 560.00 677.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (as ) Tj ET Q q 0 0 0 rg BT 60.33 665.25 Td (specified ) Tj ET Q q 0 0 0 rg BT 98.92 665.25 Td (in ) Tj ET Q q 0 0 0 rg BT 109.20 665.25 Td (the ) Tj ET Q q 0 0 0 rg BT 123.92 665.25 Td (indenture. ) Tj ET Q q 0 0 0 rg BT 166.68 665.25 Td ( ) Tj ET Q q 0 0 0 rg BT 169.00 665.25 Td (The ) Tj ET Q q 0 0 0 rg BT 187.05 665.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 209.55 665.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 235.38 665.25 Td (are ) Tj ET Q q 0 0 0 rg BT 250.09 665.25 Td (not ) Tj ET Q q 0 0 0 rg BT 265.36 665.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 296.19 665.25 Td (to ) Tj ET Q q 0 0 0 rg BT 306.47 665.25 Td (any ) Tj ET Q q 0 0 0 rg BT 323.41 665.25 Td (sinking ) Tj ET Q q 0 0 0 rg BT 355.35 665.25 Td (fund ) Tj ET Q q 0 0 0 rg BT 376.18 665.25 Td (requirements.) 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Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.87 641.25 Td ( ) Tj ET Q q 0 0 0 rg BT 362.95 641.25 Td ( ) Tj ET Q q 0 0 0 rg BT 366.02 641.25 Td (Each ) Tj ET Q q 0 0 0 rg BT 389.08 641.25 Td (of ) Tj ET Q q 0 0 0 rg BT 400.49 641.25 Td (the ) Tj ET Q q 0 0 0 rg BT 415.78 641.25 Td (indentures ) Tj ET Q q 0 0 0 rg BT 460.51 641.25 Td (for ) Tj ET Q q 0 0 0 rg BT 475.25 641.25 Td (the ) Tj ET Q q 0 0 0 rg BT 490.54 641.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 513.61 641.25 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 542.52 641.25 Td (2022 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 75.68 629.25 Td (and ) Tj ET Q q 0 0 0 rg BT 92.97 629.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 115.83 629.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 142.01 629.25 Td (contains ) Tj ET Q q 0 0 0 rg BT 178.19 629.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 208.24 629.25 Td (covenants ) Tj ET Q q 0 0 0 rg BT 251.08 629.25 Td (that ) Tj ET Q q 0 0 0 rg BT 268.93 629.25 Td (are ) Tj ET Q q 0 0 0 rg BT 283.99 629.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 324.05 629.25 Td (consistent ) Tj ET Q q 0 0 0 rg BT 366.89 629.25 Td (and ) Tj ET Q q 0 0 0 rg BT 384.19 629.25 Td (that ) Tj ET Q q 0 0 0 rg BT 402.03 629.25 Td (restrict ) Tj ET Q q 0 0 0 rg BT 432.65 629.25 Td (our ) Tj ET Q q 0 0 0 rg BT 448.83 629.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 477.24 629.25 Td (and ) Tj ET Q q 0 0 0 rg BT 494.53 629.25 Td (the ) Tj ET Q q 0 0 0 rg BT 509.60 629.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 538.00 629.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.19 629.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 90.56 617.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 141.64 617.25 Td (to ) Tj ET Q q 0 0 0 rg BT 153.29 617.25 Td (take ) Tj ET Q q 0 0 0 rg BT 173.80 617.25 Td (or ) Tj ET Q q 0 0 0 rg BT 186.00 617.25 Td (permit ) Tj ET Q q 0 0 0 rg BT 215.96 617.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 247.03 617.25 Td (actions, ) Tj ET Q q 0 0 0 rg BT 281.72 617.25 Td (including ) Tj ET Q q 0 0 0 rg BT 323.35 617.25 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 371.65 617.25 Td (on ) Tj ET Q q 0 0 0 rg BT 385.51 617.25 Td (our ) Tj ET Q q 0 0 0 rg BT 402.70 617.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 432.12 617.25 Td (and ) Tj ET Q q 0 0 0 rg BT 450.42 617.25 Td (the ) Tj ET Q q 0 0 0 rg BT 466.50 617.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 495.91 617.25 Td (of ) Tj ET Q q 0 0 0 rg BT 508.11 617.25 Td (our ) Tj ET Q q 0 0 0 rg BT 525.30 617.25 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 98.06 605.25 Td (to ) Tj ET Q q 0 0 0 rg BT 107.18 605.25 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 120.18 605.25 Td (incur ) Tj ET Q q 0 0 0 rg BT 142.06 605.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 183.39 605.25 Td (debt; ) Tj ET Q q 0 0 0 rg BT 204.73 605.25 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 217.73 605.25 Td (make ) Tj ET Q q 0 0 0 rg BT 240.73 605.25 Td (investments; ) Tj ET Q q 0 0 0 rg BT 292.62 605.25 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 305.62 605.25 Td (create ) Tj ET Q q 0 0 0 rg BT 330.82 605.25 Td (liens ) Tj ET Q q 0 0 0 rg BT 351.05 605.25 Td (on ) Tj ET Q q 0 0 0 rg BT 362.39 605.25 Td (our ) Tj ET Q q 0 0 0 rg BT 377.06 605.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 401.73 605.25 Td (or ) Tj ET Q q 0 0 0 rg BT 411.40 605.25 Td (the ) Tj ET Q q 0 0 0 rg BT 424.96 605.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 449.63 605.25 Td (of ) Tj ET Q q 0 0 0 rg BT 459.30 605.25 Td (our ) Tj ET Q q 0 0 0 rg BT 473.97 605.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 512.51 605.25 Td (subsidiaries; ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.25 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 62.98 593.25 Td (create ) Tj ET Q q 0 0 0 rg BT 88.66 593.25 Td (restrictions ) Tj ET Q q 0 0 0 rg BT 134.91 593.25 Td (on ) Tj ET Q q 0 0 0 rg BT 146.73 593.25 Td (the ) Tj ET Q q 0 0 0 rg BT 160.76 593.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 188.13 593.25 Td (of ) Tj ET Q q 0 0 0 rg BT 198.28 593.25 Td (our ) Tj ET Q q 0 0 0 rg BT 213.43 593.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 252.45 593.25 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 301.48 593.25 Td (to ) Tj ET Q q 0 0 0 rg BT 311.08 593.25 Td (pay ) Tj ET Q q 0 0 0 rg BT 327.33 593.25 Td (dividends ) Tj ET Q q 0 0 0 rg BT 368.04 593.25 Td (or ) Tj ET Q q 0 0 0 rg BT 378.19 593.25 Td (make ) Tj ET Q q 0 0 0 rg BT 401.66 593.25 Td (other ) Tj ET Q q 0 0 0 rg BT 424.03 593.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 464.17 593.25 Td (to ) Tj ET Q q 0 0 0 rg BT 473.76 593.25 Td (DRI ) Tj ET Q q 0 0 0 rg BT 492.80 593.25 Td (or ) Tj ET Q q 0 0 0 rg BT 502.95 593.25 Td (other ) Tj ET Q q 0 0 0 rg BT 525.32 593.25 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.25 Td (subsidiaries; ) Tj ET Q q 0 0 0 rg BT 101.86 581.25 Td (\(5\) ) Tj ET Q q 0 0 0 rg BT 115.88 581.25 Td (engage ) Tj ET Q q 0 0 0 rg BT 146.56 581.25 Td (in ) Tj ET Q q 0 0 0 rg BT 156.70 581.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 206.83 581.25 Td (with ) Tj ET Q q 0 0 0 rg BT 226.97 581.25 Td (our ) Tj ET Q q 0 0 0 rg BT 242.66 581.25 Td (af) Tj ET Q q 0 0 0 rg BT 250.25 581.25 Td (filiates; ) Tj ET Q q 0 0 0 rg BT 282.61 581.25 Td (\(6\) ) Tj ET Q q 0 0 0 rg BT 296.63 581.25 Td (transfer ) Tj ET Q q 0 0 0 rg BT 329.53 581.25 Td (or ) Tj ET Q q 0 0 0 rg BT 340.22 581.25 Td (sell ) Tj ET Q q 0 0 0 rg BT 356.47 581.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 382.17 581.25 Td (or ) Tj ET Q q 0 0 0 rg BT 392.86 581.25 Td (subsidiary ) Tj ET Q q 0 0 0 rg BT 436.33 581.25 Td (stock; ) Tj ET Q q 0 0 0 rg BT 462.58 581.25 Td (\(7\) ) Tj ET Q q 0 0 0 rg BT 476.60 581.25 Td (consolidate, ) Tj ET Q q 0 0 0 rg BT 527.01 581.25 Td (mer) Tj ET Q q 0 0 0 rg BT 542.38 581.25 Td (ge ) Tj ET Q q 0 0 0 rg BT 554.18 581.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.25 Td (transfer ) Tj ET Q q 0 0 0 rg BT 82.47 569.25 Td (all ) Tj ET Q q 0 0 0 rg BT 94.90 569.25 Td (or ) Tj ET Q q 0 0 0 rg BT 105.67 569.25 Td (substantially ) Tj ET Q q 0 0 0 rg BT 158.66 569.25 Td (all ) Tj ET Q q 0 0 0 rg BT 171.09 569.25 Td (of ) Tj ET Q q 0 0 0 rg BT 181.85 569.25 Td (our ) Tj ET Q q 0 0 0 rg BT 197.62 569.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 223.38 569.25 Td (and ) Tj ET Q q 0 0 0 rg BT 240.26 569.25 Td (the ) Tj ET Q q 0 0 0 rg BT 254.91 569.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 280.68 569.25 Td (of ) Tj ET Q q 0 0 0 rg BT 291.44 569.25 Td (our ) Tj ET Q q 0 0 0 rg BT 307.21 569.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 346.84 569.25 Td (subsidiaries; ) Tj ET Q q 0 0 0 rg BT 399.28 569.25 Td (and ) Tj ET Q q 0 0 0 rg BT 416.15 569.25 Td (\(8\) ) Tj ET Q q 0 0 0 rg BT 430.25 569.25 Td (make ) Tj ET Q q 0 0 0 rg BT 454.34 569.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 493.97 569.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 534.73 569.25 Td (\(which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.25 Td (includes ) Tj ET Q q 0 0 0 rg BT 84.81 557.25 Td (paying ) Tj ET Q q 0 0 0 rg BT 114.00 557.25 Td (dividends ) Tj ET Q q 0 0 0 rg BT 154.87 557.25 Td (on ) Tj ET Q q 0 0 0 rg BT 166.85 557.25 Td (our ) Tj ET Q q 0 0 0 rg BT 182.17 557.25 Td (common ) Tj ET Q q 0 0 0 rg BT 219.14 557.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 242.23 557.25 Td (or ) Tj ET Q q 0 0 0 rg BT 252.54 557.25 Td (redeeming, ) Tj ET Q q 0 0 0 rg BT 299.23 557.25 Td (repurchasing ) Tj ET Q q 0 0 0 rg BT 352.85 557.25 Td (or ) Tj ET Q q 0 0 0 rg BT 363.17 557.25 Td (retiring ) Tj ET Q q 0 0 0 rg BT 394.58 557.25 Td (such ) Tj ET Q q 0 0 0 rg BT 414.89 557.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 437.98 557.25 Td (or ) Tj ET Q q 0 0 0 rg BT 448.29 557.25 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 501.93 557.25 Td (debt\), ) Tj ET Q q 0 0 0 rg BT 526.96 557.25 Td (provided ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.25 Td (that ) Tj ET Q q 0 0 0 rg BT 66.87 545.25 Td (the ) Tj ET Q q 0 0 0 rg BT 81.47 545.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 121.05 545.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 161.76 545.25 Td (covenant ) Tj ET Q q 0 0 0 rg BT 200.23 545.25 Td (in ) Tj ET Q q 0 0 0 rg BT 210.39 545.25 Td (the ) Tj ET Q q 0 0 0 rg BT 224.98 545.25 Td (indentures ) Tj ET Q q 0 0 0 rg BT 269.02 545.25 Td (for ) Tj ET Q q 0 0 0 rg BT 283.06 545.25 Td (the ) Tj ET Q q 0 0 0 rg BT 297.65 545.25 Td (2022 ) Tj ET Q q 0 0 0 rg BT 320.03 545.25 Td (and ) Tj ET Q q 0 0 0 rg BT 336.85 545.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 359.23 545.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 384.94 545.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 402.87 545.25 Td (�2022 ) Tj ET Q q 0 0 0 rg BT 429.68 545.25 Td (and ) Tj ET Q q 0 0 0 rg BT 446.50 545.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 468.88 545.25 Td (Indentures�\) ) Tj ET Q q 0 0 0 rg BT 521.24 545.25 Td (permits ) Tj ET Q q 0 0 0 rg BT 553.61 545.25 Td (us ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.25 Td (in ) Tj ET Q q 0 0 0 rg BT 59.99 533.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 89.91 533.25 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 149.27 533.25 Td (to ) Tj ET Q q 0 0 0 rg BT 159.76 533.25 Td (make ) Tj ET Q q 0 0 0 rg BT 184.14 533.25 Td (unlimited ) Tj ET Q q 0 0 0 rg BT 225.18 533.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 265.10 533.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 306.14 533.25 Td (so ) Tj ET Q q 0 0 0 rg BT 317.75 533.25 Td (long ) Tj ET Q q 0 0 0 rg BT 338.25 533.25 Td (as ) Tj ET Q q 0 0 0 rg BT 349.29 533.25 Td (we ) Tj ET Q q 0 0 0 rg BT 363.67 533.25 Td (maintain ) Tj ET Q q 0 0 0 rg BT 401.37 533.25 Td (a ) Tj ET Q q 0 0 0 rg BT 408.53 533.25 Td (ratio ) Tj ET Q q 0 0 0 rg BT 429.57 533.25 Td (of ) Tj ET Q q 0 0 0 rg BT 440.62 533.25 Td (total ) Tj ET Q q 0 0 0 rg BT 461.11 533.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 481.04 533.25 Td (to ) Tj ET Q q 0 0 0 rg BT 491.53 533.25 Td (EBITDA) Tj ET Q q 0 0 0 rg BT 527.64 533.25 Td ( ) Tj ET Q q 0 0 0 rg BT 530.36 533.25 Td (\(both ) Tj ET Q q 0 0 0 rg BT 554.18 533.25 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 81.97 521.25 Td (in ) Tj ET Q q 0 0 0 rg BT 92.24 521.25 Td (the ) Tj ET Q q 0 0 0 rg BT 106.95 521.25 Td (2022 ) Tj ET Q q 0 0 0 rg BT 129.44 521.25 Td (and ) Tj ET Q q 0 0 0 rg BT 146.37 521.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 168.85 521.25 Td (Indentures\) ) Tj ET Q q 0 0 0 rg BT 216.88 521.25 Td (not ) Tj ET Q q 0 0 0 rg BT 232.15 521.25 Td (to ) Tj ET Q q 0 0 0 rg BT 242.42 521.25 Td (exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 272.66 521.25 Td (2.5) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 285.16 521.25 Td ( ) Tj ET Q q 0 0 0 rg BT 287.65 521.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 297.92 521.25 Td (1.0) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 310.42 521.25 Td ( ) Tj ET Q q 0 0 0 rg BT 312.91 521.25 Td (\(both ) Tj ET Q q 0 0 0 rg BT 336.50 521.25 Td (before ) Tj ET Q q 0 0 0 rg BT 364.53 521.25 Td (and ) Tj ET Q q 0 0 0 rg BT 381.46 521.25 Td (after ) Tj ET Q q 0 0 0 rg BT 402.26 521.25 Td (giving ) Tj ET Q q 0 0 0 rg BT 430.31 521.25 Td (ef) Tj ET Q q 0 0 0 rg BT 437.90 521.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 455.37 521.25 Td (to ) Tj ET Q q 0 0 0 rg BT 465.64 521.25 Td (any ) Tj ET Q q 0 0 0 rg BT 482.57 521.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 522.26 521.25 Td (payment\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.25 Td (although ) Tj ET Q q 0 0 0 rg BT 87.40 509.25 Td (we ) Tj ET Q q 0 0 0 rg BT 101.96 509.25 Td (will ) Tj ET Q q 0 0 0 rg BT 120.42 509.25 Td (not ) Tj ET Q q 0 0 0 rg BT 136.10 509.25 Td (be ) Tj ET Q q 0 0 0 rg BT 148.44 509.25 Td (able ) Tj ET Q q 0 0 0 rg BT 168.00 509.25 Td (to ) Tj ET Q q 0 0 0 rg BT 178.68 509.25 Td (realize ) Tj ET Q q 0 0 0 rg BT 208.23 509.25 Td (the ) Tj ET Q q 0 0 0 rg BT 223.35 509.25 Td (practical ) Tj ET Q q 0 0 0 rg BT 260.67 509.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 291.33 509.25 Td (of ) Tj ET Q q 0 0 0 rg BT 302.57 509.25 Td (the ) Tj ET Q q 0 0 0 rg BT 317.69 509.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 357.79 509.25 Td (payment ) Tj ET Q q 0 0 0 rg BT 395.13 509.25 Td (covenant ) Tj ET Q q 0 0 0 rg BT 434.12 509.25 Td (flexibility ) Tj ET Q q 0 0 0 rg BT 476.47 509.25 Td (in ) Tj ET Q q 0 0 0 rg BT 487.15 509.25 Td (the ) Tj ET Q q 0 0 0 rg BT 502.27 509.25 Td (2022 ) Tj ET Q q 0 0 0 rg BT 525.17 509.25 Td (and ) Tj ET Q q 0 0 0 rg BT 542.51 509.25 Td (2023 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.25 Td (Indentures ) Tj ET Q q 0 0 0 rg BT 94.37 497.25 Td (until ) Tj ET Q q 0 0 0 rg BT 115.37 497.25 Td (the ) Tj ET Q q 0 0 0 rg BT 130.26 497.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 152.92 497.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 178.92 497.25 Td (have ) Tj ET Q q 0 0 0 rg BT 200.46 497.25 Td (been ) Tj ET Q q 0 0 0 rg BT 222.00 497.25 Td (redeemed ) Tj ET Q q 0 0 0 rg BT 263.53 497.25 Td (or ) Tj ET Q q 0 0 0 rg BT 274.53 497.25 Td (retired. ) Tj ET Q q 0 0 0 rg BT 305.79 497.25 Td ( ) Tj ET Q q 0 0 0 rg BT 307.87 497.25 Td (As ) Tj ET Q q 0 0 0 rg BT 321.65 497.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.64 497.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 391.39 497.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.39 497.25 Td (, ) Tj ET Q q 0 0 0 rg BT 416.56 497.25 Td (we ) Tj ET Q q 0 0 0 rg BT 430.88 497.25 Td (were ) Tj ET Q q 0 0 0 rg BT 452.98 497.25 Td (in ) Tj ET Q q 0 0 0 rg BT 463.42 497.25 Td (compliance ) Tj ET Q q 0 0 0 rg BT 512.18 497.25 Td (with ) Tj ET Q q 0 0 0 rg BT 532.62 497.25 Td (all ) Tj ET Q q 0 0 0 rg BT 545.28 497.25 Td (debt ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.25 Td (covenants ) Tj ET Q q 0 0 0 rg BT 91.99 485.25 Td (under ) Tj ET Q q 0 0 0 rg BT 117.25 485.25 Td (the ) Tj ET Q q 0 0 0 rg BT 131.97 485.25 Td (indentures ) Tj ET Q q 0 0 0 rg BT 176.13 485.25 Td (related ) Tj ET Q q 0 0 0 rg BT 205.83 485.25 Td (to ) Tj ET Q q 0 0 0 rg BT 216.11 485.25 Td (our ) Tj ET Q q 0 0 0 rg BT 231.94 485.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 258.88 485.25 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 313.03 485.25 Td (notes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 67.50 461.25 Td (2016 ) Tj ET Q q 0 0 0 rg BT 89.39 461.25 Td (Repur) Tj ET Q q 0 0 0 rg BT 116.43 461.25 Td (chases ) Tj ET Q q 0 0 0 rg BT 145.54 461.25 Td (of ) Tj ET Q q 0 0 0 rg BT 155.76 461.25 Td (Senior) Tj ET Q q 0 0 0 rg BT 183.36 461.25 Td ( ) Tj ET Q q 0 0 0 rg BT 185.25 461.25 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 245.49 461.25 Td (Notes. ) Tj ET Q q 0 0 0 rg BT 273.76 461.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.65 461.25 Td (During ) Tj ET Q q 0 0 0 rg BT 305.87 461.25 Td (2016, ) Tj ET Q q 0 0 0 rg BT 330.26 461.25 Td (we ) Tj ET Q q 0 0 0 rg BT 343.81 461.25 Td (repurchased ) Tj ET Q q 0 0 0 rg BT 394.01 461.25 Td (a ) Tj ET Q q 0 0 0 rg BT 400.34 461.25 Td (total ) Tj ET Q q 0 0 0 rg BT 420.00 461.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.22 461.25 Td ($181.9 ) Tj ET Q q 0 0 0 rg BT 459.61 461.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 488.50 461.25 Td ( ) Tj ET Q q 0 0 0 rg BT 490.39 461.25 Td (of ) Tj ET Q q 0 0 0 rg BT 500.61 461.25 Td (our ) Tj ET Q q 0 0 0 rg BT 515.83 461.25 Td (outstanding ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 92.02 449.25 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 149.27 449.25 Td (consisting ) Tj ET Q q 0 0 0 rg BT 192.92 449.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.33 449.25 Td ($9.8 ) Tj ET Q q 0 0 0 rg BT 224.92 449.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 253.82 449.25 Td ( ) Tj ET Q q 0 0 0 rg BT 256.91 449.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 295.54 449.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 328.62 449.25 Td (of ) Tj ET Q q 0 0 0 rg BT 340.04 449.25 Td (our ) Tj ET Q q 0 0 0 rg BT 356.46 449.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 379.55 449.25 Td (Notes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.47 449.25 Td ($66.1 ) Tj ET Q q 0 0 0 rg BT 434.06 449.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.95 449.25 Td ( ) Tj ET Q q 0 0 0 rg BT 466.04 449.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 504.68 449.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 537.76 449.25 Td (of ) Tj ET Q q 0 0 0 rg BT 549.18 449.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.25 Td (2022 ) Tj ET Q q 0 0 0 rg BT 71.48 437.25 Td (Notes, ) Tj ET Q q 0 0 0 rg BT 99.28 437.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 115.70 437.25 Td ($106.0 ) Tj ET Q q 0 0 0 rg BT 145.17 437.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.07 437.25 Td ( ) Tj ET Q q 0 0 0 rg BT 176.04 437.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 213.56 437.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 245.53 437.25 Td (of ) Tj ET Q q 0 0 0 rg BT 255.84 437.25 Td (our ) Tj ET Q q 0 0 0 rg BT 271.15 437.25 Td (2023 ) Tj ET Q q 0 0 0 rg BT 293.12 437.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 318.43 437.25 Td (in ) Tj ET Q q 0 0 0 rg BT 328.18 437.25 Td (open-market ) Tj ET Q q 0 0 0 rg BT 380.69 437.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 430.43 437.25 Td (for ) Tj ET Q q 0 0 0 rg BT 444.07 437.25 Td (a ) Tj ET Q q 0 0 0 rg BT 450.49 437.25 Td (total ) Tj ET Q q 0 0 0 rg BT 470.24 437.25 Td (purchase ) Tj ET Q q 0 0 0 rg BT 507.75 437.25 Td (price ) Tj ET Q q 0 0 0 rg BT 529.71 437.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.02 437.25 Td ($76.7 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 425.25 Td (, ) Tj ET Q q 0 0 0 rg BT 84.64 425.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 127.82 425.25 Td (accrued ) Tj ET Q q 0 0 0 rg BT 162.65 425.25 Td (interest. ) Tj ET Q q 0 0 0 rg BT 198.33 425.25 Td (In ) Tj ET Q q 0 0 0 rg BT 210.41 425.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 258.03 425.25 Td (with ) Tj ET Q q 0 0 0 rg BT 279.56 425.25 Td (these ) Tj ET Q q 0 0 0 rg BT 303.85 425.25 Td (series ) Tj ET Q q 0 0 0 rg BT 330.37 425.25 Td (of ) Tj ET Q q 0 0 0 rg BT 342.44 425.25 Td (transactions, ) Tj ET Q q 0 0 0 rg BT 396.46 425.25 Td (we ) Tj ET Q q 0 0 0 rg BT 411.86 425.25 Td (recognized ) Tj ET Q q 0 0 0 rg BT 459.47 425.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.66 425.25 Td ($103.1 ) Tj ET Q q 0 0 0 rg BT 498.91 425.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.80 425.25 Td ( ) Tj ET Q q 0 0 0 rg BT 531.55 425.25 Td (gain ) Tj ET Q q 0 0 0 rg BT 552.51 425.25 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.25 Td (extinguishment, ) Tj ET Q q 0 0 0 rg BT 116.16 413.25 Td (net ) Tj ET Q q 0 0 0 rg BT 130.88 413.25 Td (of ) Tj ET Q q 0 0 0 rg BT 141.71 413.25 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 194.19 413.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 213.90 413.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 250.28 413.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 272.78 413.25 Td (written ) Tj ET Q q 0 0 0 rg BT 303.61 413.25 Td (of) Tj ET Q q 0 0 0 rg BT 311.76 413.25 Td (f, ) Tj ET Q q 0 0 0 rg BT 320.09 413.25 Td (during ) Tj ET Q q 0 0 0 rg BT 348.69 413.25 Td (the ) Tj ET Q q 0 0 0 rg BT 363.41 413.25 Td (year ) Tj ET Q q 0 0 0 rg BT 383.12 413.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 409.50 413.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 468.08 413.25 Td (2016.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 389.25 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 86.44 389.25 Td (Financings) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 365.25 Td (In ) Tj ET Q q 0 0 0 rg BT 78.46 365.25 Td (May ) Tj ET Q q 0 0 0 rg BT 99.42 365.25 Td (2008, ) Tj ET Q q 0 0 0 rg BT 124.55 365.25 Td (we ) Tj ET Q q 0 0 0 rg BT 138.84 365.25 Td (closed ) Tj ET Q q 0 0 0 rg BT 167.02 365.25 Td (two ) Tj ET Q q 0 0 0 rg BT 184.65 365.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 235.05 365.25 Td (with ) Tj ET Q q 0 0 0 rg BT 255.46 365.25 Td (Genesis ) Tj ET Q q 0 0 0 rg BT 289.75 365.25 Td (Ener) Tj ET Q q 0 0 0 rg BT 308.44 365.25 Td (gy) Tj ET Q q 0 0 0 rg BT 317.79 365.25 Td (, ) Tj ET Q q 0 0 0 rg BT 322.92 365.25 Td (L.P) Tj ET Q q 0 0 0 rg BT 335.99 365.25 Td (. ) Tj ET Q q 0 0 0 rg BT 341.12 365.25 Td (\(�Genesis�\) ) Tj ET Q q 0 0 0 rg BT 390.95 365.25 Td (involving ) Tj ET Q q 0 0 0 rg BT 431.91 365.25 Td (two ) Tj ET Q q 0 0 0 rg BT 449.54 365.25 Td (of ) Tj ET Q q 0 0 0 rg BT 460.50 365.25 Td (our ) Tj ET Q q 0 0 0 rg BT 476.46 365.25 Td (pipelines.��) Tj ET Q q 0 0 0 rg BT 519.89 365.25 Td (The ) Tj ET Q q 0 0 0 rg BT 538.06 365.25 Td (NEJD ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.25 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 86.24 353.25 Td (system ) Tj ET Q q 0 0 0 rg BT 117.98 353.25 Td (included ) Tj ET Q q 0 0 0 rg BT 156.38 353.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 164.78 353.25 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.78 353.25 Td (-year ) Tj ET Q q 0 0 0 rg BT 199.29 353.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 241.01 353.25 Td (lease, ) Tj ET Q q 0 0 0 rg BT 267.46 353.25 Td (and ) Tj ET Q q 0 0 0 rg BT 285.87 353.25 Td (the ) Tj ET Q q 0 0 0 rg BT 302.05 353.25 Td (Free ) Tj ET Q q 0 0 0 rg BT 323.78 353.25 Td (State ) Tj ET Q q 0 0 0 rg BT 347.74 353.25 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 384.48 353.25 Td (included ) Tj ET Q q 0 0 0 rg BT 422.88 353.25 Td (a ) Tj ET Q q 0 0 0 rg BT 431.28 353.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 474.68 353.25 Td (transportation ) Tj ET Q q 0 0 0 rg BT 534.19 353.25 Td (service ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 341.25 Td (agreement.��) Tj ET Q q 0 0 0 rg BT 98.46 341.25 Td (These ) Tj ET Q q 0 0 0 rg BT 124.84 341.25 Td (transactions ) Tj ET Q q 0 0 0 rg BT 175.10 341.25 Td (are ) Tj ET Q q 0 0 0 rg BT 189.81 341.25 Td (both ) Tj ET Q q 0 0 0 rg BT 210.09 341.25 Td (accounted ) Tj ET Q q 0 0 0 rg BT 253.12 341.25 Td (for ) Tj ET Q q 0 0 0 rg BT 267.28 341.25 Td (as ) Tj ET Q q 0 0 0 rg BT 278.11 341.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 318.37 341.25 Td (leases.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 317.25 Td (Debt ) Tj ET Q q 0 0 0 rg BT 72.55 317.25 Td (Issuance ) Tj ET Q q 0 0 0 rg BT 111.73 317.25 Td (Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 293.25 Td (In ) Tj ET Q q 0 0 0 rg BT 78.89 293.25 Td (connection ) Tj ET Q q 0 0 0 rg BT 125.83 293.25 Td (with ) Tj ET Q q 0 0 0 rg BT 146.67 293.25 Td (the ) Tj ET Q q 0 0 0 rg BT 161.95 293.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 198.89 293.25 Td (of ) Tj ET Q q 0 0 0 rg BT 210.29 293.25 Td (our ) Tj ET Q q 0 0 0 rg BT 226.68 293.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 276.41 293.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 318.91 293.25 Td (debt, ) Tj ET Q q 0 0 0 rg BT 341.69 293.25 Td (we ) Tj ET Q q 0 0 0 rg BT 356.41 293.25 Td (have ) Tj ET Q q 0 0 0 rg BT 378.35 293.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 414.73 293.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 435.01 293.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 471.96 293.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 497.52 293.25 Td (which ) Tj ET Q q 0 0 0 rg BT 525.02 293.25 Td (are ) Tj ET Q q 0 0 0 rg BT 540.29 293.25 Td (being ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.25 Td (amortized ) Tj ET Q q 0 0 0 rg BT 93.87 281.25 Td (to ) Tj ET Q q 0 0 0 rg BT 106.03 281.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 139.86 281.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 176.45 281.25 Td (using ) Tj ET Q q 0 0 0 rg BT 202.51 281.25 Td (the ) Tj ET Q q 0 0 0 rg BT 219.11 281.25 Td (straight ) Tj ET Q q 0 0 0 rg BT 253.50 281.25 Td (line ) Tj ET Q q 0 0 0 rg BT 272.88 281.25 Td (or ) Tj ET Q q 0 0 0 rg BT 285.60 281.25 Td (ef) Tj ET Q q 0 0 0 rg BT 293.18 281.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 324.77 281.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 358.59 281.25 Td (method ) Tj ET Q q 0 0 0 rg BT 392.98 281.25 Td (over ) Tj ET Q q 0 0 0 rg BT 415.13 281.25 Td (the ) Tj ET Q q 0 0 0 rg BT 431.74 281.25 Td (term ) Tj ET Q q 0 0 0 rg BT 454.45 281.25 Td (of ) Tj ET Q q 0 0 0 rg BT 467.17 281.25 Td (each ) Tj ET Q q 0 0 0 rg BT 489.87 281.25 Td (related ) Tj ET Q q 0 0 0 rg BT 521.46 281.25 Td (facility ) Tj ET Q q 0 0 0 rg BT 554.17 281.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 269.25 Td (borrowing.��Remaining ) Tj ET Q q 0 0 0 rg BT 145.34 269.25 Td (unamortized ) Tj ET Q q 0 0 0 rg BT 198.12 269.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 218.14 269.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 254.82 269.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 277.62 269.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 299.85 269.25 Td ($19.1 ) Tj ET Q q 0 0 0 rg BT 325.15 269.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.04 269.25 Td ( ) Tj ET Q q 0 0 0 rg BT 356.84 269.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.08 269.25 Td ($13.8 ) Tj ET Q q 0 0 0 rg BT 399.38 269.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.27 269.25 Td ( ) Tj ET Q q 0 0 0 rg BT 431.07 269.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.09 269.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 499.97 269.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.97 269.25 Td ( ) Tj ET Q q 0 0 0 rg BT 522.77 269.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.01 269.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.01 269.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 257.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 97.16 257.25 Td (.��Issuance ) Tj ET Q q 0 0 0 rg BT 140.69 257.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 162.29 257.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 204.98 257.25 Td (with ) Tj ET Q q 0 0 0 rg BT 224.35 257.25 Td (our ) Tj ET Q q 0 0 0 rg BT 239.28 257.25 Td (Bank ) Tj ET Q q 0 0 0 rg BT 261.99 257.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 288.23 257.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 334.25 257.25 Td (are ) Tj ET Q q 0 0 0 rg BT 348.06 257.25 Td (included ) Tj ET Q q 0 0 0 rg BT 384.09 257.25 Td (in ) Tj ET Q q 0 0 0 rg BT 393.46 257.25 Td (�Other ) Tj ET Q q 0 0 0 rg BT 422.27 257.25 Td (assets� ) Tj ET Q q 0 0 0 rg BT 451.64 257.25 Td (in ) Tj ET Q q 0 0 0 rg BT 461.01 257.25 Td (our ) Tj ET Q q 0 0 0 rg BT 475.94 257.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 530.31 257.25 Td (Balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.25 Td (Sheets, ) Tj ET Q q 0 0 0 rg BT 80.95 245.25 Td (and ) Tj ET Q q 0 0 0 rg BT 98.23 245.25 Td (issuance ) Tj ET Q q 0 0 0 rg BT 134.95 245.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 157.79 245.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 201.72 245.25 Td (with ) Tj ET Q q 0 0 0 rg BT 222.34 245.25 Td (our ) Tj ET Q q 0 0 0 rg BT 238.51 245.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 265.79 245.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 299.17 245.25 Td (second ) Tj ET Q q 0 0 0 rg BT 329.78 245.25 Td (lien ) Tj ET Q q 0 0 0 rg BT 347.61 245.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 371.56 245.25 Td (and ) Tj ET Q q 0 0 0 rg BT 388.84 245.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 416.12 245.25 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 470.62 245.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 494.57 245.25 Td (are ) Tj ET Q q 0 0 0 rg BT 509.62 245.25 Td (included ) Tj ET Q q 0 0 0 rg BT 546.89 245.25 Td (as ) Tj ET Q q 0 0 0 rg BT 558.06 245.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (reduction ) Tj ET Q q 0 0 0 rg BT 89.76 233.25 Td (of ) Tj ET Q q 0 0 0 rg BT 100.59 233.25 Td (�Long-term ) Tj ET Q q 0 0 0 rg BT 150.30 233.25 Td (debt, ) Tj ET Q q 0 0 0 rg BT 172.51 233.25 Td (net ) Tj ET Q q 0 0 0 rg BT 187.23 233.25 Td (of ) Tj ET Q q 0 0 0 rg BT 198.06 233.25 Td (current ) Tj ET Q q 0 0 0 rg BT 228.88 233.25 Td (portion� ) Tj ET Q q 0 0 0 rg BT 264.70 233.25 Td (in ) Tj ET Q q 0 0 0 rg BT 274.98 233.25 Td (our ) Tj ET Q q 0 0 0 rg BT 290.81 233.25 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 346.08 233.25 Td (Balance ) Tj ET Q q 0 0 0 rg BT 380.78 233.25 Td (Sheets.) Tj ET Q endstream endobj 171 0 obj <> endobj 172 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (85) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 713.25 Td (Indebtedness ) Tj ET Q q 0 0 0 rg BT 108.13 713.25 Td (Repayment ) Tj ET Q q 0 0 0 rg BT 159.51 713.25 Td (Schedule) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 689.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 80.10 689.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 138.79 689.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.79 689.25 Td (, ) Tj ET Q q 0 0 0 rg BT 163.89 689.25 Td (our ) Tj ET Q q 0 0 0 rg BT 179.82 689.25 Td (indebtedness, ) Tj ET Q q 0 0 0 rg BT 236.58 689.25 Td (including ) Tj ET Q q 0 0 0 rg BT 276.95 689.25 Td (our ) Tj ET Q q 0 0 0 rg BT 292.88 689.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 322.14 689.25 Td (and ) Tj ET Q q 0 0 0 rg BT 339.18 689.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 379.54 689.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 402.13 689.25 Td (obligations ) Tj ET Q q 0 0 0 rg BT 449.17 689.25 Td (but ) Tj ET Q q 0 0 0 rg BT 464.55 689.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 506.59 689.25 Td (future ) Tj ET Q q 0 0 0 rg BT 533.07 689.25 Td (interest ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (payable ) Tj ET Q q 0 0 0 rg BT 83.16 677.25 Td (treated ) Tj ET Q q 0 0 0 rg BT 112.92 677.25 Td (as ) Tj ET Q q 0 0 0 rg BT 123.81 677.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 143.59 677.25 Td (in ) Tj ET Q q 0 0 0 rg BT 153.93 677.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 201.46 677.25 Td (with ) Tj ET Q q 0 0 0 rg BT 221.80 677.25 Td (F) Tj ET Q q 0 0 0 rg BT 226.62 677.25 Td (ASC ) Tj ET Q q 0 0 0 rg BT 248.63 677.25 Td (470-60, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 282.03 677.25 Td (T) Tj ET Q q 0 0 0 rg BT 287.04 677.25 Td (r) Tj ET Q q 0 0 0 rg BT 290.56 677.25 Td (oubled ) Tj ET Q q 0 0 0 rg BT 320.33 677.25 Td (Debt ) Tj ET Q q 0 0 0 rg BT 342.34 677.25 Td (Restructuring ) Tj ET Q q 0 0 0 rg BT 399.89 677.25 Td (by ) Tj ET Q q 0 0 0 rg BT 411.89 677.25 Td (Debtors) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.12 677.25 Td (, ) Tj ET Q q 0 0 0 rg BT 449.18 677.25 Td (is ) Tj ET Q q 0 0 0 rg BT 458.41 677.25 Td (payable ) Tj ET Q q 0 0 0 rg BT 492.07 677.25 Td (over ) Tj ET Q q 0 0 0 rg BT 512.40 677.25 Td (the ) Tj ET Q q 0 0 0 rg BT 527.18 677.25 Td (next ) Tj ET Q q 0 0 0 rg BT 546.96 677.25 Td (five ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.25 Td (years ) Tj ET Q q 0 0 0 rg BT 73.10 665.25 Td (and ) Tj ET Q q 0 0 0 rg BT 90.04 665.25 Td (thereafter ) Tj ET Q q 0 0 0 rg BT 130.84 665.25 Td (as ) Tj ET Q q 0 0 0 rg BT 141.67 665.25 Td (follows:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 639.75 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 639.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 639.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 609.75 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 609.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 609.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 579.75 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 579.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 579.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 549.75 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 549.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 549.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 639.75 m 494 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 639.75 m 563 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 639.75 m 494 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 639.75 m 563 639.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 549.75 m 563 549.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 535.75 m 563 535.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 533.75 m 563 533.75 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 644.46 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 644.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 629.42 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 629.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 629.42 Td (19,180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 614.42 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 614.42 Td (16,638) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 599.42 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 599.42 Td (834,296) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 584.42 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 584.42 Td (788,752) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 569.42 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 569.42 Td (327,622) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 554.42 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 554.42 Td (545,719) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 539.42 Td (T) Tj ET Q q 0 0 0 rg BT 69.91 539.42 Td (otal indebtedness) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 539.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.15 539.42 Td (2,532,207) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 564.50 535.25 Td (�) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 511.25 Td (Note 7. Income ) Tj ET Q q 0 0 0 rg BT 115.97 511.25 Td (T) Tj ET Q q 0 0 0 rg BT 121.72 511.25 Td (axes) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 487.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.55 487.25 Td (income ) Tj ET Q q 0 0 0 rg BT 117.49 487.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 132.20 487.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 172.48 487.25 Td (\(benefit\) ) Tj ET Q q 0 0 0 rg BT 209.40 487.25 Td (is ) Tj ET Q q 0 0 0 rg BT 218.57 487.25 Td (as ) Tj ET Q q 0 0 0 rg BT 229.40 487.25 Td (follows:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 450.75 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 450.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 450.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 450.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 450.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 450.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 450.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 420.75 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 420.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 420.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 420.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 420.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 420.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 420.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 390.75 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 390.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 390.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 390.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 390.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 390.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 390.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 360.75 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 360.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 360.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 360.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 360.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 360.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 360.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 330.75 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 330.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 330.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 330.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 330.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 330.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 330.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 463.75 m 424 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 463.75 m 428 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 463.75 m 493 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 463.75 m 497 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 463.75 m 562 463.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 450.75 m 355 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 450.75 m 424 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 450.75 m 493 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 450.75 m 562 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 450.75 m 355 450.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 405.75 m 424 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 405.75 m 493 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 405.75 m 562 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 405.75 m 424 405.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 390.75 m 424 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 390.75 m 493 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 390.75 m 562 390.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 330.75 m 424 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 330.75 m 493 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 330.75 m 562 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 330.75 m 424 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 315.75 m 424 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 330.75 m 493 330.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 315.75 m 493 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 315.75 m 562 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 315.75 m 424 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 301.75 m 424 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 299.75 m 424 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 315.75 m 493 315.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 301.75 m 493 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 299.75 m 493 299.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 301.75 m 562 301.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 299.75 m 562 299.75 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 467.31 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.45 467.32 Td (Y) Tj ET Q q 0 0 0 rg BT 414.17 467.32 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 454.31 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 454.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 454.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 454.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 440.42 Td (Current income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 440.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 440.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 440.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 425.42 Td (Federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 425.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 425.47 Td (\(17,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 425.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 425.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 425.47 Td (\(19,485) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 425.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 425.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 425.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 410.42 Td (State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 410.42 Td (1,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.30 410.47 Td (\(1,388) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 410.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 410.47 Td (\(785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 410.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 395.42 Td (T) Tj ET Q q 0 0 0 rg BT 81.26 395.42 Td (otal current income tax benefit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 395.47 Td (\(16,001) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 395.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 395.47 Td (\(20,873) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 395.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 395.47 Td (\(785) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 395.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 365.42 Td (Deferred income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 365.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 365.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 365.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 350.42 Td (Federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 350.42 Td (93,395) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 350.47 Td (\(1) Tj ET Q q 0 0 0 rg BT 461.63 350.47 Td (13,863) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 350.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 350.47 Td (\(521,519) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 350.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 335.42 Td (State) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 335.42 Td (9,839) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 335.42 Td (18,084) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 335.47 Td (\(21,866) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 335.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 320.42 Td (T) Tj ET Q q 0 0 0 rg BT 80.91 320.42 Td (otal deferred income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 320.42 Td (103,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 320.47 Td (\(95,779) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 320.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 320.47 Td (\(543,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 320.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.50 305.42 Td (T) Tj ET Q q 0 0 0 rg BT 92.91 305.42 Td (otal income tax expense \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 305.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 305.42 Td (87,233) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 305.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 305.47 Td (\(1) Tj ET Q q 0 0 0 rg BT 461.63 305.47 Td (16,652) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 305.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 305.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 305.47 Td (\(544,170) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 305.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 277.25 Td (At ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 79.92 277.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 138.42 277.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 158.42 277.25 Td (, ) Tj ET Q q 0 0 0 rg BT 163.34 277.25 Td (we ) Tj ET Q q 0 0 0 rg BT 177.42 277.25 Td (had ) Tj ET Q q 0 0 0 rg BT 194.28 277.25 Td (no ) Tj ET Q q 0 0 0 rg BT 206.70 277.25 Td (federal ) Tj ET Q q 0 0 0 rg BT 236.87 277.25 Td (net ) Tj ET Q q 0 0 0 rg BT 251.51 277.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 291.69 277.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 309.67 277.25 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 368.17 277.25 Td (\(�NOLs�\), ) Tj ET Q q 0 0 0 rg BT 413.07 277.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 427.71 277.25 Td (ef) Tj ET Q q 0 0 0 rg BT 435.30 277.25 Td (fected ) Tj ET Q q 0 0 0 rg BT 462.14 277.25 Td (business ) Tj ET Q q 0 0 0 rg BT 498.45 277.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 530.30 277.25 Td (expense ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 265.25 Td (carryforward ) Tj ET Q q 0 0 0 rg BT 104.28 265.25 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 137.42 265.25 Td ($9.0 ) Tj ET Q q 0 0 0 rg BT 157.51 265.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.41 265.25 Td (, ) Tj ET Q q 0 0 0 rg BT 191.50 265.25 Td (state ) Tj ET Q q 0 0 0 rg BT 212.42 265.25 Td (NOLs ) Tj ET Q q 0 0 0 rg BT 239.45 265.25 Td (and ) Tj ET Q q 0 0 0 rg BT 256.48 265.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 271.29 265.25 Td (credits ) Tj ET Q q 0 0 0 rg BT 300.54 265.25 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.68 265.25 Td ($52.4 ) Tj ET Q q 0 0 0 rg BT 358.77 265.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.66 265.25 Td ( ) Tj ET Q q 0 0 0 rg BT 390.25 265.25 Td (\(before ) Tj ET Q q 0 0 0 rg BT 421.71 265.25 Td (provision ) Tj ET Q q 0 0 0 rg BT 462.08 265.25 Td (for ) Tj ET Q q 0 0 0 rg BT 476.34 265.25 Td (valuation ) Tj ET Q q 0 0 0 rg BT 516.14 265.25 Td (allowance\), ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 253.25 Td (an ) Tj ET Q q 0 0 0 rg BT 61.26 253.25 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 101.89 253.25 Td ($57.8 ) Tj ET Q q 0 0 0 rg BT 126.71 253.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 155.60 253.25 Td ( ) Tj ET Q q 0 0 0 rg BT 157.92 253.25 Td (of ) Tj ET Q q 0 0 0 rg BT 168.56 253.25 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 208.64 253.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 221.51 253.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 258.80 253.25 Td (credits ) Tj ET Q q 0 0 0 rg BT 287.77 253.25 Td (to ) Tj ET Q q 0 0 0 rg BT 297.87 253.25 Td (carry ) Tj ET Q q 0 0 0 rg BT 320.72 253.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 354.69 253.25 Td (related ) Tj ET Q q 0 0 0 rg BT 384.21 253.25 Td (to ) Tj ET Q q 0 0 0 rg BT 394.30 253.25 Td (our ) Tj ET Q q 0 0 0 rg BT 409.95 253.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 441.14 253.25 Td (operations, ) Tj ET Q q 0 0 0 rg BT 487.61 253.25 Td (an ) Tj ET Q q 0 0 0 rg BT 499.37 253.25 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.01 253.25 Td ($21.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 241.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 241.25 Td ( ) Tj ET Q q 0 0 0 rg BT 81.01 241.25 Td (of ) Tj ET Q q 0 0 0 rg BT 91.95 241.25 Td (research ) Tj ET Q q 0 0 0 rg BT 127.87 241.25 Td (and ) Tj ET Q q 0 0 0 rg BT 144.92 241.25 Td (development ) Tj ET Q q 0 0 0 rg BT 199.19 241.25 Td (credits, ) Tj ET Q q 0 0 0 rg BT 230.96 241.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 248.01 241.25 Td ($18.1 ) Tj ET Q q 0 0 0 rg BT 273.13 241.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.02 241.25 Td ( ) Tj ET Q q 0 0 0 rg BT 304.63 241.25 Td (of ) Tj ET Q q 0 0 0 rg BT 315.58 241.25 Td (alternative ) Tj ET Q q 0 0 0 rg BT 360.39 241.25 Td (minimum ) Tj ET Q q 0 0 0 rg BT 401.90 241.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 416.73 241.25 Td (credits.��Under ) Tj ET Q q 0 0 0 rg BT 478.49 241.25 Td (the ) Tj ET Q q 0 0 0 rg BT 493.13 241.25 Td (T) Tj ET Q q 0 0 0 rg BT 498.54 241.25 Td (ax ) Tj ET Q q 0 0 0 rg BT 510.60 241.25 Td (Cut ) Tj ET Q q 0 0 0 rg BT 527.66 241.25 Td (and ) Tj ET Q q 0 0 0 rg BT 544.71 241.25 Td (Jobs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 229.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 65.74 229.25 Td (\(�the ) Tj ET Q q 0 0 0 rg BT 87.13 229.25 Td (Act�\) ) Tj ET Q q 0 0 0 rg BT 111.13 229.25 Td (enacted ) Tj ET Q q 0 0 0 rg BT 143.46 229.25 Td (in ) Tj ET Q q 0 0 0 rg BT 153.04 229.25 Td (December ) Tj ET Q q 0 0 0 rg BT 195.92 229.25 Td (2017, ) Tj ET Q q 0 0 0 rg BT 220.22 229.25 Td (all ) Tj ET Q q 0 0 0 rg BT 232.02 229.25 Td (of ) Tj ET Q q 0 0 0 rg BT 242.15 229.25 Td (our ) Tj ET Q q 0 0 0 rg BT 257.28 229.25 Td (alternative ) Tj ET Q q 0 0 0 rg BT 301.27 229.25 Td (minimum ) Tj ET Q q 0 0 0 rg BT 341.96 229.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 355.98 229.25 Td (credits ) Tj ET Q q 0 0 0 rg BT 384.44 229.25 Td (are ) Tj ET Q q 0 0 0 rg BT 398.44 229.25 Td (fully ) Tj ET Q q 0 0 0 rg BT 419.13 229.25 Td (refundable ) Tj ET Q q 0 0 0 rg BT 463.68 229.25 Td (by ) Tj ET Q q 0 0 0 rg BT 475.48 229.25 Td (2021 ) Tj ET Q q 0 0 0 rg BT 497.28 229.25 Td (and ) Tj ET Q q 0 0 0 rg BT 513.52 229.25 Td (are ) Tj ET Q q 0 0 0 rg BT 527.52 229.25 Td (recorded ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 217.25 Td (as ) Tj ET Q q 0 0 0 rg BT 60.15 217.25 Td (a ) Tj ET Q q 0 0 0 rg BT 66.92 217.25 Td (receivable ) Tj ET Q q 0 0 0 rg BT 110.32 217.25 Td (on ) Tj ET Q q 0 0 0 rg BT 122.64 217.25 Td (the ) Tj ET Q q 0 0 0 rg BT 137.19 217.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 170.04 217.25 Td (sheet. ) Tj ET Q q 0 0 0 rg BT 195.41 217.25 Td ( ) Tj ET Q q 0 0 0 rg BT 197.57 217.25 Td (W) Tj ET Q q 0 0 0 rg BT 206.21 217.25 Td (e ) Tj ET Q q 0 0 0 rg BT 212.97 217.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 258.61 217.25 Td (our ) Tj ET Q q 0 0 0 rg BT 274.26 217.25 Td (assessment ) Tj ET Q q 0 0 0 rg BT 321.03 217.25 Td (of ) Tj ET Q q 0 0 0 rg BT 331.68 217.25 Td (the ) Tj ET Q q 0 0 0 rg BT 346.22 217.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 383.52 217.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 398.06 217.25 Td (benefit ) Tj ET Q q 0 0 0 rg BT 428.15 217.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 471.57 217.25 Td (with ) Tj ET Q q 0 0 0 rg BT 491.67 217.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.21 217.25 Td (impacts ) Tj ET Q q 0 0 0 rg BT 539.64 217.25 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 217.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 205.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 66.48 205.25 Td (to ) Tj ET Q q 0 0 0 rg BT 76.80 205.25 Td (be ) Tj ET Q q 0 0 0 rg BT 88.78 205.25 Td (substantially ) Tj ET Q q 0 0 0 rg BT 141.87 205.25 Td (complete ) Tj ET Q q 0 0 0 rg BT 181.06 205.25 Td (as ) Tj ET Q q 0 0 0 rg BT 191.93 205.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 202.80 205.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 261.43 205.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 281.43 205.25 Td (, ) Tj ET Q q 0 0 0 rg BT 286.47 205.25 Td (which ) Tj ET Q q 0 0 0 rg BT 313.45 205.25 Td (is ) Tj ET Q q 0 0 0 rg BT 322.66 205.25 Td (reflected ) Tj ET Q q 0 0 0 rg BT 360.17 205.25 Td (in ) Tj ET Q q 0 0 0 rg BT 370.49 205.25 Td (the ) Tj ET Q q 0 0 0 rg BT 385.24 205.25 Td (table ) Tj ET Q q 0 0 0 rg BT 407.22 205.25 Td (reconciling ) Tj ET Q q 0 0 0 rg BT 454.74 205.25 Td (income ) Tj ET Q q 0 0 0 rg BT 486.71 205.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 501.47 205.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 536.22 205.25 Td (below) Tj ET Q q 0 0 0 rg BT 560.01 205.25 Td (. ) Tj ET Q q 0 0 0 rg BT 565.01 205.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 193.25 Td (Federal ) Tj ET Q q 0 0 0 rg BT 82.73 193.25 Td (and ) Tj ET Q q 0 0 0 rg BT 100.41 193.25 Td (state ) Tj ET Q q 0 0 0 rg BT 121.97 193.25 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 166.31 193.25 Td (guidance ) Tj ET Q q 0 0 0 rg BT 205.64 193.25 Td (of ) Tj ET Q q 0 0 0 rg BT 217.21 193.25 Td (the ) Tj ET Q q 0 0 0 rg BT 231.96 193.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 249.64 193.25 Td (are ) Tj ET Q q 0 0 0 rg BT 265.08 193.25 Td (continuing ) Tj ET Q q 0 0 0 rg BT 311.10 193.25 Td (to ) Tj ET Q q 0 0 0 rg BT 322.12 193.25 Td (be ) Tj ET Q q 0 0 0 rg BT 334.80 193.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 363.04 193.25 Td (and ) Tj ET Q q 0 0 0 rg BT 380.72 193.25 Td (could ) Tj ET Q q 0 0 0 rg BT 406.18 193.25 Td (result ) Tj ET Q q 0 0 0 rg BT 431.64 193.25 Td (in ) Tj ET Q q 0 0 0 rg BT 442.65 193.25 Td (further ) Tj ET Q q 0 0 0 rg BT 473.10 193.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 488.56 193.25 Td (ef) Tj ET Q q 0 0 0 rg BT 496.15 193.25 Td (fects ) Tj ET Q q 0 0 0 rg BT 518.27 193.25 Td (but ) Tj ET Q q 0 0 0 rg BT 534.29 193.25 Td (are ) Tj ET Q q 0 0 0 rg BT 549.73 193.25 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 181.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 87.36 181.25 Td (to ) Tj ET Q q 0 0 0 rg BT 97.46 181.25 Td (be ) Tj ET Q q 0 0 0 rg BT 109.23 181.25 Td (material ) Tj ET Q q 0 0 0 rg BT 144.31 181.25 Td (to ) Tj ET Q q 0 0 0 rg BT 154.41 181.25 Td (our ) Tj ET Q q 0 0 0 rg BT 170.07 181.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 207.38 181.25 Td (statements. ) Tj ET Q q 0 0 0 rg BT 254.41 181.25 Td ( ) Tj ET Q q 0 0 0 rg BT 256.74 181.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 274.62 181.25 Td (business ) Tj ET Q q 0 0 0 rg BT 310.83 181.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 342.59 181.25 Td (expense ) Tj ET Q q 0 0 0 rg BT 377.13 181.25 Td (carryforward ) Tj ET Q q 0 0 0 rg BT 431.64 181.25 Td (does ) Tj ET Q q 0 0 0 rg BT 452.30 181.25 Td (not ) Tj ET Q q 0 0 0 rg BT 467.40 181.25 Td (expire. ) Tj ET Q q 0 0 0 rg BT 497.21 181.25 Td ( ) Tj ET Q q 0 0 0 rg BT 499.54 181.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 517.41 181.25 Td (state ) Tj ET Q q 0 0 0 rg BT 538.06 181.25 Td (NOLs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 169.25 Td (expire ) Tj ET Q q 0 0 0 rg BT 76.94 169.25 Td (in ) Tj ET Q q 0 0 0 rg BT 87.17 169.25 Td (various ) Tj ET Q q 0 0 0 rg BT 119.06 169.25 Td (years, ) Tj ET Q q 0 0 0 rg BT 145.11 169.25 Td (starting ) Tj ET Q q 0 0 0 rg BT 177.56 169.25 Td (in ) Tj ET Q q 0 0 0 rg BT 187.79 169.25 Td (2019, ) Tj ET Q q 0 0 0 rg BT 212.74 169.25 Td (although ) Tj ET Q q 0 0 0 rg BT 250.19 169.25 Td (most ) Tj ET Q q 0 0 0 rg BT 272.09 169.25 Td (do ) Tj ET Q q 0 0 0 rg BT 284.54 169.25 Td (not ) Tj ET Q q 0 0 0 rg BT 299.77 169.25 Td (begin ) Tj ET Q q 0 0 0 rg BT 324.44 169.25 Td (to ) Tj ET Q q 0 0 0 rg BT 334.68 169.25 Td (expire ) Tj ET Q q 0 0 0 rg BT 362.11 169.25 Td (until ) Tj ET Q q 0 0 0 rg BT 382.90 169.25 Td (2024. ) Tj ET Q q 0 0 0 rg BT 407.85 169.25 Td ( ) Tj ET Q q 0 0 0 rg BT 410.31 169.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 428.31 169.25 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 468.52 169.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 481.53 169.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 518.95 169.25 Td (credits ) Tj ET Q q 0 0 0 rg BT 548.06 169.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 157.25 Td (research ) Tj ET Q q 0 0 0 rg BT 85.31 157.25 Td (and ) Tj ET Q q 0 0 0 rg BT 102.24 157.25 Td (development ) Tj ET Q q 0 0 0 rg BT 156.39 157.25 Td (credits ) Tj ET Q q 0 0 0 rg BT 185.55 157.25 Td (begin ) Tj ET Q q 0 0 0 rg BT 210.27 157.25 Td (to ) Tj ET Q q 0 0 0 rg BT 220.54 157.25 Td (expire ) Tj ET Q q 0 0 0 rg BT 248.03 157.25 Td (in ) Tj ET Q q 0 0 0 rg BT 258.31 157.25 Td (2024 ) Tj ET Q q 0 0 0 rg BT 280.81 157.25 Td (and ) Tj ET Q q 0 0 0 rg BT 297.75 157.25 Td (2031, ) Tj ET Q q 0 0 0 rg BT 322.75 157.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 370.41 157.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 133.25 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 105.53 133.25 Td (income ) Tj ET Q q 0 0 0 rg BT 137.48 133.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 160.53 133.25 Td (reflect ) Tj ET Q q 0 0 0 rg BT 188.57 133.25 Td (the ) Tj ET Q q 0 0 0 rg BT 203.29 133.25 Td (available ) Tj ET Q q 0 0 0 rg BT 241.89 133.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 256.61 133.25 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 315.20 133.25 Td (and ) Tj ET Q q 0 0 0 rg BT 332.15 133.25 Td (the ) Tj ET Q q 0 0 0 rg BT 346.87 133.25 Td (temporary ) Tj ET Q q 0 0 0 rg BT 390.47 133.25 Td (dif) Tj ET Q q 0 0 0 rg BT 401.40 133.25 Td (ferences ) Tj ET Q q 0 0 0 rg BT 437.21 133.25 Td (based ) Tj ET Q q 0 0 0 rg BT 462.49 133.25 Td (on ) Tj ET Q q 0 0 0 rg BT 475.00 133.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 489.72 133.25 Td (laws ) Tj ET Q q 0 0 0 rg BT 510.56 133.25 Td (and ) Tj ET Q q 0 0 0 rg BT 527.50 133.25 Td (statutory ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 121.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 70.28 121.25 Td (in ) Tj ET Q q 0 0 0 rg BT 79.96 121.25 Td (ef) Tj ET Q q 0 0 0 rg BT 87.55 121.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 104.44 121.25 Td (at ) Tj ET Q q 0 0 0 rg BT 113.56 121.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.68 121.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 185.67 121.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.67 121.25 Td ( ) Tj ET Q q 0 0 0 rg BT 207.58 121.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 223.92 121.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.92 121.25 Td ( ) Tj ET Q q 0 0 0 rg BT 245.82 121.25 Td (balance ) Tj ET Q q 0 0 0 rg BT 278.26 121.25 Td (sheet ) Tj ET Q q 0 0 0 rg BT 300.71 121.25 Td (dates.��) Tj ET Q q 0 0 0 rg BT 328.21 121.25 Td (As ) Tj ET Q q 0 0 0 rg BT 341.22 121.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.46 121.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 409.45 121.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 429.45 121.25 Td (, ) Tj ET Q q 0 0 0 rg BT 433.85 121.25 Td (we ) Tj ET Q q 0 0 0 rg BT 447.42 121.25 Td (had ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 463.76 121.25 Td ($51.1 ) Tj ET Q q 0 0 0 rg BT 488.16 121.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.05 121.25 Td ( ) Tj ET Q q 0 0 0 rg BT 518.96 121.25 Td (of ) Tj ET Q q 0 0 0 rg BT 529.19 121.25 Td (deferred ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 109.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 64.19 109.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 90.00 109.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 133.57 109.25 Td (with ) Tj ET Q q 0 0 0 rg BT 153.82 109.25 Td (State ) Tj ET Q q 0 0 0 rg BT 176.29 109.25 Td (of ) Tj ET Q q 0 0 0 rg BT 187.10 109.25 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 229.01 109.25 Td (and ) Tj ET Q q 0 0 0 rg BT 245.92 109.25 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 293.97 109.25 Td (net ) Tj ET Q q 0 0 0 rg BT 308.66 109.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 348.90 109.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 375.27 109.25 Td (and ) Tj ET Q q 0 0 0 rg BT 392.18 109.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 406.87 109.25 Td (credits. ) Tj ET Q q 0 0 0 rg BT 438.50 109.25 Td ( ) Tj ET Q q 0 0 0 rg BT 440.43 109.25 Td (A) Tj ET Q q 0 0 0 rg BT 447.10 109.25 Td ( ) Tj ET Q q 0 0 0 rg BT 449.58 109.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 464.27 109.25 Td (valuation ) Tj ET Q q 0 0 0 rg BT 503.96 109.25 Td (allowance ) Tj ET Q q 0 0 0 rg BT 546.97 109.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 97.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 86.78 97.25 Td (in ) Tj ET Q q 0 0 0 rg BT 96.87 97.25 Td (2015 ) Tj ET Q q 0 0 0 rg BT 119.17 97.25 Td (to ) Tj ET Q q 0 0 0 rg BT 129.26 97.25 Td (reduce ) Tj ET Q q 0 0 0 rg BT 158.21 97.25 Td (the ) Tj ET Q q 0 0 0 rg BT 172.73 97.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 208.35 97.25 Td (value ) Tj ET Q q 0 0 0 rg BT 232.31 97.25 Td (of ) Tj ET Q q 0 0 0 rg BT 242.95 97.25 Td (our ) Tj ET Q q 0 0 0 rg BT 258.59 97.25 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 300.33 97.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 335.94 97.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 350.46 97.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 376.10 97.25 Td (as ) Tj ET Q q 0 0 0 rg BT 386.73 97.25 Td (the ) Tj ET Q q 0 0 0 rg BT 401.26 97.25 Td (result ) Tj ET Q q 0 0 0 rg BT 425.78 97.25 Td (of ) Tj ET Q q 0 0 0 rg BT 436.42 97.25 Td (a ) Tj ET Q q 0 0 0 rg BT 443.16 97.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 457.68 97.25 Td (law ) Tj ET Q q 0 0 0 rg BT 474.43 97.25 Td (enacted ) Tj ET Q q 0 0 0 rg BT 507.27 97.25 Td (in ) Tj ET Q q 0 0 0 rg BT 517.35 97.25 Td (the ) Tj ET Q q 0 0 0 rg BT 531.87 97.25 Td (State ) Tj ET Q q 0 0 0 rg BT 554.18 97.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 85.25 Td (Louisiana, ) Tj ET Q q 0 0 0 rg BT 94.98 85.25 Td (which ) Tj ET Q q 0 0 0 rg BT 122.97 85.25 Td (limits ) Tj ET Q q 0 0 0 rg BT 149.30 85.25 Td (a ) Tj ET Q q 0 0 0 rg BT 157.28 85.25 Td (company�) Tj ET Q q 0 0 0 rg BT 196.72 85.25 Td (s ) Tj ET Q q 0 0 0 rg BT 204.16 85.25 Td (utilization ) Tj ET Q q 0 0 0 rg BT 248.25 85.25 Td (of ) Tj ET Q q 0 0 0 rg BT 260.13 85.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 290.88 85.25 Td (deductions, ) Tj ET Q q 0 0 0 rg BT 340.25 85.25 Td (including ) Tj ET Q q 0 0 0 rg BT 381.57 85.25 Td (our ) Tj ET Q q 0 0 0 rg BT 398.45 85.25 Td (net ) Tj ET Q q 0 0 0 rg BT 414.21 85.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 455.52 85.25 Td (loss ) Tj ET Q q 0 0 0 rg BT 474.63 85.25 Td (carryforwards. ) Tj ET Q q 0 0 0 rg BT 536.76 85.25 Td ( ) Tj ET Q q 0 0 0 rg BT 539.52 85.25 Td (As ) Tj ET Q q 0 0 0 rg BT 554.18 85.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 73.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 107.94 73.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.94 73.25 Td (, ) Tj ET Q q 0 0 0 rg BT 132.80 73.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 147.38 73.25 Td (valuation ) Tj ET Q q 0 0 0 rg BT 186.95 73.25 Td (allowances ) Tj ET Q q 0 0 0 rg BT 233.74 73.25 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 266.65 73.25 Td ($41.9 ) Tj ET Q q 0 0 0 rg BT 291.51 73.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.40 73.25 Td ( ) Tj ET Q q 0 0 0 rg BT 322.76 73.25 Td (were ) Tj ET Q q 0 0 0 rg BT 344.55 73.25 Td (recorded ) Tj ET Q q 0 0 0 rg BT 381.88 73.25 Td (for ) Tj ET Q q 0 0 0 rg BT 395.90 73.25 Td (our ) Tj ET Q q 0 0 0 rg BT 411.59 73.25 Td (State ) Tj ET Q q 0 0 0 rg BT 433.95 73.25 Td (of ) Tj ET Q q 0 0 0 rg BT 444.64 73.25 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 486.43 73.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 522.10 73.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 536.67 73.25 Td (assets. ) Tj ET Q q 0 0 0 rg BT 565.00 73.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 61.25 Td (Based ) Tj ET Q q 0 0 0 rg BT 76.32 61.25 Td (on ) Tj ET Q q 0 0 0 rg BT 88.70 61.25 Td (losses ) Tj ET Q q 0 0 0 rg BT 114.98 61.25 Td (from ) Tj ET Q q 0 0 0 rg BT 136.80 61.25 Td (falling ) Tj ET Q q 0 0 0 rg BT 165.28 61.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 213.21 61.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 239.47 61.25 Td (and ) Tj ET Q q 0 0 0 rg BT 256.29 61.25 Td (lower ) Tj ET Q q 0 0 0 rg BT 281.44 61.25 Td (future ) Tj ET Q q 0 0 0 rg BT 307.70 61.25 Td (forecasted ) Tj ET Q q 0 0 0 rg BT 351.17 61.25 Td (income ) Tj ET Q q 0 0 0 rg BT 382.98 61.25 Td (related ) Tj ET Q q 0 0 0 rg BT 412.57 61.25 Td (to ) Tj ET Q q 0 0 0 rg BT 422.73 61.25 Td (our ) Tj ET Q q 0 0 0 rg BT 438.44 61.25 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 486.39 61.25 Td (deferred ) Tj ET Q q 0 0 0 rg BT 522.08 61.25 Td (tax ) Tj ET Q q 0 0 0 rg BT 536.68 61.25 Td (assets, ) Tj ET Q endstream endobj 173 0 obj <> endobj 174 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 63.20 713.10 Td (concluded ) Tj ET Q q 0 0 0 rg BT 106.33 713.10 Td (it ) Tj ET Q q 0 0 0 rg BT 113.93 713.10 Td (was ) Tj ET Q q 0 0 0 rg BT 131.52 713.10 Td (not ) Tj ET Q q 0 0 0 rg BT 146.33 713.10 Td (more-likely-than-not ) Tj ET Q q 0 0 0 rg BT 231.68 713.10 Td (that ) Tj ET Q q 0 0 0 rg BT 248.71 713.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.97 713.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 298.31 713.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 312.57 713.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 337.94 713.10 Td (would ) Tj ET Q q 0 0 0 rg BT 364.97 713.10 Td (be ) Tj ET Q q 0 0 0 rg BT 376.45 713.10 Td (realized. ) Tj ET Q q 0 0 0 rg BT 412.63 713.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.22 713.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 463.55 713.10 Td (, ) Tj ET Q q 0 0 0 rg BT 468.09 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 481.79 713.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 518.81 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 525.28 713.10 Td (valuation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 92.63 701.10 Td (against ) Tj ET Q q 0 0 0 rg BT 123.54 701.10 Td (our ) Tj ET Q q 0 0 0 rg BT 139.47 701.10 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 187.63 701.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 223.53 701.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 238.34 701.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 264.26 701.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 274.63 701.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 294.63 701.10 Td (. ) Tj ET Q q 0 0 0 rg BT 299.72 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 301.75 701.10 Td (As ) Tj ET Q q 0 0 0 rg BT 315.45 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 326.37 701.10 Td (December ) Tj ET Q q 0 0 0 rg BT 370.05 701.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 385.14 701.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 410.24 701.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 425.05 701.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 464.85 701.10 Td (allowances ) Tj ET Q q 0 0 0 rg BT 511.87 701.10 Td (totaling ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.01 701.10 Td ($9.2 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 80.83 689.10 Td (were ) Tj ET Q q 0 0 0 rg BT 102.70 689.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 140.12 689.10 Td (for ) Tj ET Q q 0 0 0 rg BT 154.22 689.10 Td (our ) Tj ET Q q 0 0 0 rg BT 169.99 689.10 Td (State ) Tj ET Q q 0 0 0 rg BT 192.43 689.10 Td (of ) Tj ET Q q 0 0 0 rg BT 203.20 689.10 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 251.21 689.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 286.96 689.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 301.62 689.10 Td (assets. ) Tj ET Q q 0 0 0 rg BT 329.89 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 332.16 689.10 Td (The ) Tj ET Q q 0 0 0 rg BT 350.14 689.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 389.80 689.10 Td (allowances ) Tj ET Q q 0 0 0 rg BT 436.66 689.10 Td (will ) Tj ET Q q 0 0 0 rg BT 454.66 689.10 Td (remain ) Tj ET Q q 0 0 0 rg BT 484.87 689.10 Td (until ) Tj ET Q q 0 0 0 rg BT 505.64 689.10 Td (the ) Tj ET Q q 0 0 0 rg BT 520.30 689.10 Td (realization ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.26 677.10 Td (future ) Tj ET Q q 0 0 0 rg BT 86.57 677.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 122.30 677.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 136.95 677.10 Td (benefits ) Tj ET Q q 0 0 0 rg BT 171.04 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 185.68 677.10 Td (more ) Tj ET Q q 0 0 0 rg BT 208.65 677.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 233.86 677.10 Td (than ) Tj ET Q q 0 0 0 rg BT 253.50 677.10 Td (not ) Tj ET Q q 0 0 0 rg BT 268.71 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 278.92 677.10 Td (become ) Tj ET Q q 0 0 0 rg BT 312.45 677.10 Td (utilized. ) Tj ET Q q 0 0 0 rg BT 347.37 677.10 Td ( ) Tj ET Q q 0 0 0 rg BT 349.62 677.10 Td (The ) Tj ET Q q 0 0 0 rg BT 367.60 677.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 404.45 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 414.65 677.10 Td (our ) Tj ET Q q 0 0 0 rg BT 430.42 677.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 470.06 677.10 Td (allowance ) Tj ET Q q 0 0 0 rg BT 513.02 677.10 Td (was ) Tj ET Q q 0 0 0 rg BT 531.00 677.10 Td (due ) Tj ET Q q 0 0 0 rg BT 547.87 677.10 Td (to ) Tj ET Q q 0 0 0 rg BT 558.08 677.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (utilization ) Tj ET Q q 0 0 0 rg BT 92.04 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 102.36 665.10 Td (a ) Tj ET Q q 0 0 0 rg BT 108.78 665.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 139.66 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 149.98 665.10 Td (our ) Tj ET Q q 0 0 0 rg BT 165.30 665.10 Td (net ) Tj ET Q q 0 0 0 rg BT 179.51 665.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 219.26 665.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 236.81 665.10 Td (carryforwards, ) Tj ET Q q 0 0 0 rg BT 297.38 665.10 Td (of) Tj ET Q q 0 0 0 rg BT 305.53 665.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 321.96 665.10 Td (by ) Tj ET Q q 0 0 0 rg BT 333.95 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.15 665.10 Td (generation ) Tj ET Q q 0 0 0 rg BT 392.35 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 402.67 665.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 444.65 665.10 Td (state ) Tj ET Q q 0 0 0 rg BT 464.96 665.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 479.17 665.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 503.92 665.10 Td (carryforwards.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 641.10 Td (As ) Tj ET Q q 0 0 0 rg BT 82.11 641.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.95 641.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 153.53 641.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.53 641.10 Td (, ) Tj ET Q q 0 0 0 rg BT 179.53 641.10 Td (we ) Tj ET Q q 0 0 0 rg BT 194.69 641.10 Td (had ) Tj ET Q q 0 0 0 rg BT 212.63 641.10 Td (an ) Tj ET Q q 0 0 0 rg BT 225.57 641.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 282.93 641.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 298.65 641.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 329.92 641.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.75 641.10 Td ($5.4 ) Tj ET Q q 0 0 0 rg BT 362.75 641.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.64 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 395.14 641.10 Td (related ) Tj ET Q q 0 0 0 rg BT 425.84 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 437.12 641.10 Td (an ) Tj ET Q q 0 0 0 rg BT 450.06 641.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 490.77 641.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 506.48 641.10 Td (position.� ) Tj ET Q q 0 0 0 rg BT 546.96 641.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 106.16 629.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 121.18 629.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 151.75 629.10 Td (was ) Tj ET Q q 0 0 0 rg BT 170.10 629.10 Td (recorded ) Tj ET Q q 0 0 0 rg BT 207.88 629.10 Td (during ) Tj ET Q q 0 0 0 rg BT 236.79 629.10 Td (2015 ) Tj ET Q q 0 0 0 rg BT 259.59 629.10 Td (as ) Tj ET Q q 0 0 0 rg BT 270.72 629.10 Td (a ) Tj ET Q q 0 0 0 rg BT 277.96 629.10 Td (direct ) Tj ET Q q 0 0 0 rg BT 303.53 629.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 344.09 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 355.23 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 370.24 629.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 414.14 629.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 450.25 629.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 465.27 629.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 487.51 629.10 Td (and, ) Tj ET Q q 0 0 0 rg BT 507.25 629.10 Td (if ) Tj ET Q q 0 0 0 rg BT 516.16 629.10 Td (recognized, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (would ) Tj ET Q q 0 0 0 rg BT 77.13 617.10 Td (not ) Tj ET Q q 0 0 0 rg BT 92.54 617.10 Td (materially ) Tj ET Q q 0 0 0 rg BT 135.71 617.10 Td (af) Tj ET Q q 0 0 0 rg BT 143.30 617.10 Td (fect ) Tj ET Q q 0 0 0 rg BT 160.92 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 176.88 617.10 Td (annual ) Tj ET Q q 0 0 0 rg BT 206.17 617.10 Td (ef) Tj ET Q q 0 0 0 rg BT 213.75 617.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 243.59 617.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 258.44 617.10 Td (rate.� ) Tj ET Q q 0 0 0 rg BT 280.86 617.10 Td (The ) Tj ET Q q 0 0 0 rg BT 299.04 617.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 313.89 617.10 Td (benefit ) Tj ET Q q 0 0 0 rg BT 344.29 617.10 Td (from ) Tj ET Q q 0 0 0 rg BT 366.36 617.10 Td (an ) Tj ET Q q 0 0 0 rg BT 378.43 617.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 418.26 617.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 433.11 617.10 Td (position ) Tj ET Q q 0 0 0 rg BT 467.97 617.10 Td (will ) Tj ET Q q 0 0 0 rg BT 486.16 617.10 Td (only ) Tj ET Q q 0 0 0 rg BT 506.57 617.10 Td (be ) Tj ET Q q 0 0 0 rg BT 518.64 617.10 Td (recognized ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (if ) Tj ET Q q 0 0 0 rg BT 58.84 605.10 Td (it ) Tj ET Q q 0 0 0 rg BT 67.63 605.10 Td (is ) Tj ET Q q 0 0 0 rg BT 77.54 605.10 Td (more ) Tj ET Q q 0 0 0 rg BT 101.32 605.10 Td (likely ) Tj ET Q q 0 0 0 rg BT 127.32 605.10 Td (than ) Tj ET Q q 0 0 0 rg BT 147.78 605.10 Td (not ) Tj ET Q q 0 0 0 rg BT 163.79 605.10 Td (that ) Tj ET Q q 0 0 0 rg BT 182.02 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.47 605.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 212.92 605.10 Td (position ) Tj ET Q q 0 0 0 rg BT 248.38 605.10 Td (will ) Tj ET Q q 0 0 0 rg BT 267.17 605.10 Td (be ) Tj ET Q q 0 0 0 rg BT 279.84 605.10 Td (sustained ) Tj ET Q q 0 0 0 rg BT 320.29 605.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 343.53 605.10 Td (examination ) Tj ET Q q 0 0 0 rg BT 396.19 605.10 Td (by ) Tj ET Q q 0 0 0 rg BT 409.42 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.87 605.10 Td (taxing ) Tj ET Q q 0 0 0 rg BT 453.10 605.10 Td (authorities, ) Tj ET Q q 0 0 0 rg BT 501.05 605.10 Td (based ) Tj ET Q q 0 0 0 rg BT 527.05 605.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 550.28 605.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (technical ) Tj ET Q q 0 0 0 rg BT 88.65 593.10 Td (merits ) Tj ET Q q 0 0 0 rg BT 116.70 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 128.08 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 143.36 593.10 Td (position.� ) Tj ET Q q 0 0 0 rg BT 183.42 593.10 Td (W) Tj ET Q q 0 0 0 rg BT 192.06 593.10 Td (e ) Tj ET Q q 0 0 0 rg BT 199.55 593.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 238.70 593.10 Td (do ) Tj ET Q q 0 0 0 rg BT 251.76 593.10 Td (not ) Tj ET Q q 0 0 0 rg BT 267.59 593.10 Td (expect ) Tj ET Q q 0 0 0 rg BT 296.75 593.10 Td (a ) Tj ET Q q 0 0 0 rg BT 304.24 593.10 Td (material ) Tj ET Q q 0 0 0 rg BT 340.06 593.10 Td (change ) Tj ET Q q 0 0 0 rg BT 371.43 593.10 Td (to ) Tj ET Q q 0 0 0 rg BT 382.26 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 397.54 593.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 437.79 593.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 453.07 593.10 Td (position ) Tj ET Q q 0 0 0 rg BT 488.35 593.10 Td (within ) Tj ET Q q 0 0 0 rg BT 516.96 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 532.24 593.10 Td (next ) Tj ET Q q 0 0 0 rg BT 552.51 593.10 Td (12 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (months.� ) Tj ET Q q 0 0 0 rg BT 86.78 581.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 105.17 581.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 133.00 581.10 Td (is ) Tj ET Q q 0 0 0 rg BT 142.50 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 153.11 581.10 Td (recognize ) Tj ET Q q 0 0 0 rg BT 194.81 581.10 Td (penalties ) Tj ET Q q 0 0 0 rg BT 233.18 581.10 Td (and ) Tj ET Q q 0 0 0 rg BT 250.45 581.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 282.72 581.10 Td (related ) Tj ET Q q 0 0 0 rg BT 312.76 581.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.37 581.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 363.40 581.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 378.45 581.10 Td (positions ) Tj ET Q q 0 0 0 rg BT 417.41 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 428.02 581.10 Td (income ) Tj ET Q q 0 0 0 rg BT 460.29 581.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 475.34 581.10 Td (expense; ) Tj ET Q q 0 0 0 rg BT 513.15 581.10 Td (however) Tj ET Q q 0 0 0 rg BT 547.18 581.10 Td (, ) Tj ET Q q 0 0 0 rg BT 552.52 581.10 Td (no ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (such ) Tj ET Q q 0 0 0 rg BT 70.33 569.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 106.72 569.10 Td (were ) Tj ET Q q 0 0 0 rg BT 128.65 569.10 Td (accrued ) Tj ET Q q 0 0 0 rg BT 162.23 569.10 Td (related ) Tj ET Q q 0 0 0 rg BT 191.93 569.10 Td (to ) Tj ET Q q 0 0 0 rg BT 202.21 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.93 569.10 Td (uncertain ) Tj ET Q q 0 0 0 rg BT 256.63 569.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 271.35 569.10 Td (position ) Tj ET Q q 0 0 0 rg BT 306.07 569.10 Td (as ) Tj ET Q q 0 0 0 rg BT 316.90 569.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.73 569.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 386.32 569.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.32 569.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 545.10 Td (Significant ) Tj ET Q q 0 0 0 rg BT 113.88 545.10 Td (components ) Tj ET Q q 0 0 0 rg BT 164.71 545.10 Td (of ) Tj ET Q q 0 0 0 rg BT 175.54 545.10 Td (our ) Tj ET Q q 0 0 0 rg BT 191.37 545.10 Td (deferred ) Tj ET Q q 0 0 0 rg BT 227.17 545.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 241.89 545.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 267.72 545.10 Td (and ) Tj ET Q q 0 0 0 rg BT 284.66 545.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 324.38 545.10 Td (as ) Tj ET Q q 0 0 0 rg BT 335.21 545.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.04 545.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 404.62 545.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 424.62 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 427.12 545.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.06 545.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 464.06 545.10 Td ( ) Tj ET Q q 0 0 0 rg BT 466.56 545.10 Td (are ) Tj ET Q q 0 0 0 rg BT 481.26 545.10 Td (as ) Tj ET Q q 0 0 0 rg BT 492.09 545.10 Td (follows:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 508.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 508.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 508.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 508.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 508.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 478.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 478.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 478.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 478.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 478.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 448.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 448.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 448.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 448.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 448.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 418.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 418.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 418.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 418.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 418.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 388.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 388.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 388.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 388.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 388.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 358.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 358.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 358.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 358.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 358.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 328.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 328.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 328.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 328.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 328.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 298.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 298.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 298.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 298.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 298.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 268.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 268.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 268.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 268.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 268.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 521.6 m 494 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 521.6 m 498 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 521.6 m 563 521.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 508.6 m 425 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 508.6 m 494 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 508.6 m 563 508.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 358.6 m 494 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 358.6 m 563 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 358.6 m 494 358.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 343.6 m 494 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 343.6 m 563 343.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 268.6 m 494 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 268.6 m 563 268.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 253.60000000000002 m 494 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 253.60000000000002 m 563 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 253.60000000000002 m 494 253.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 239.60000000000002 m 494 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 237.60000000000002 m 494 237.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 239.60000000000002 m 563 239.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 237.60000000000002 m 563 237.60000000000002 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 525.16 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.45 525.17 Td (December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 512.16 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 512.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 512.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 498.27 Td (Deferred tax assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 498.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 498.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 483.27 Td (Loss carryforwards � federal) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 483.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 483.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 483.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 483.27 Td (18,581) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 468.27 Td (Loss and tax credit carryforwards � state) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 468.27 Td (52,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 468.27 Td (53,367) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 453.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 453.27 Td (ax credit carryover) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 453.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 453.27 Td (20,270) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 438.27 Td (Business credit carryforwards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 438.27 Td (79,528) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 438.27 Td (73,057) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 423.27 Td (Derivative contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 423.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 423.27 Td (23,024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 408.27 Td (Unrecognized gain and original issue discount on debt exchange) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 408.27 Td (73,937) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 408.27 Td (85,951) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 393.27 Td (Accrued liabilities and other reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 393.27 Td (25,231) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 393.27 Td (2,673) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 378.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 378.27 Td (32,257) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 378.27 Td (29,681) Tj ET 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Tj ET Q q 0 0 0 rg BT 407.36 499.10 Td (lapsed ) Tj ET Q q 0 0 0 rg BT 435.90 499.10 Td (and ) Tj ET Q q 0 0 0 rg BT 453.34 499.10 Td (therefore ) Tj ET Q q 0 0 0 rg BT 492.42 499.10 Td (are ) Tj ET Q q 0 0 0 rg BT 507.63 499.10 Td (not ) Tj ET Q q 0 0 0 rg BT 523.40 499.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 554.72 499.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 487.10 Td (examination ) Tj ET Q q 0 0 0 rg BT 101.71 487.10 Td (by ) Tj ET Q q 0 0 0 rg BT 114.48 487.10 Td (respective ) Tj ET Q q 0 0 0 rg BT 157.79 487.10 Td (taxing ) Tj ET Q q 0 0 0 rg BT 185.57 487.10 Td (authorities. ) Tj ET Q q 0 0 0 rg BT 233.05 487.10 Td ( ) Tj ET Q q 0 0 0 rg BT 235.63 487.10 Td (W) Tj ET Q q 0 0 0 rg BT 244.27 487.10 Td (e ) Tj ET Q q 0 0 0 rg BT 251.48 487.10 Td (have ) Tj ET Q q 0 0 0 rg BT 273.14 487.10 Td (not ) Tj ET Q q 0 0 0 rg BT 288.69 487.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 308.69 487.10 Td (any ) Tj ET Q q 0 0 0 rg BT 325.90 487.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 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Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 451.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 71.99 451.10 Td (8. ) Tj ET Q q 0 0 0 rg BT 81.99 451.10 Td (Stockholders�) Tj ET Q q 0 0 0 rg BT 140.14 451.10 Td ( ) Tj ET Q q 0 0 0 rg BT 142.64 451.10 Td (Equity) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 427.10 Td (401\(k\) ) Tj ET Q q 0 0 0 rg BT 79.22 427.10 Td (Plan) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 403.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 403.10 Td (e ) Tj ET Q q 0 0 0 rg BT 84.32 403.10 Td (of) Tj ET Q q 0 0 0 rg BT 92.47 403.10 Td (fer ) Tj ET Q q 0 0 0 rg BT 107.31 403.10 Td (a ) Tj ET Q q 0 0 0 rg BT 115.49 403.10 Td (401\(k\) ) Tj ET Q q 0 0 0 rg BT 145.89 403.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 166.85 403.10 Td (to ) Tj ET Q q 0 0 0 rg BT 178.37 403.10 Td (which ) Tj ET Q q 0 0 0 rg BT 206.56 403.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 253.06 403.10 Td (may ) Tj ET Q q 0 0 0 rg BT 274.02 403.10 Td (contribute ) Tj ET Q q 0 0 0 rg BT 318.31 403.10 Td (earnings ) Tj ET Q q 0 0 0 rg BT 355.93 403.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 387.99 403.10 Td (to ) Tj ET Q q 0 0 0 rg BT 399.51 403.10 Td (IRS ) Tj ET Q q 0 0 0 rg BT 418.82 403.10 Td (limitations.��) Tj ET Q q 0 0 0 rg BT 468.92 403.10 Td (W) Tj ET Q q 0 0 0 rg BT 477.55 403.10 Td (e ) Tj ET Q q 0 0 0 rg BT 485.73 403.10 Td (match ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.91 403.10 Td (100%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.24 403.10 Td ( ) Tj ET Q q 0 0 0 rg BT 540.98 403.10 Td (of ) Tj ET Q q 0 0 0 rg BT 553.06 403.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 391.10 Td (employee�) Tj ET Q q 0 0 0 rg BT 91.15 391.10 Td (s ) Tj ET Q q 0 0 0 rg BT 97.24 391.10 Td (contribution, ) Tj ET Q q 0 0 0 rg BT 150.82 391.10 Td (up ) Tj ET Q q 0 0 0 rg BT 163.02 391.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 173.00 391.10 Td (6%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.33 391.10 Td ( ) Tj ET Q q 0 0 0 rg BT 188.53 391.10 Td (of ) Tj ET Q q 0 0 0 rg BT 199.06 391.10 Td (compensation, ) Tj ET Q q 0 0 0 rg BT 259.30 391.10 Td (as ) Tj ET Q q 0 0 0 rg BT 269.83 391.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 302.02 391.10 Td (by ) Tj ET Q q 0 0 0 rg BT 314.22 391.10 Td (the ) Tj ET Q q 0 0 0 rg BT 328.63 391.10 Td (plan, ) Tj ET Q q 0 0 0 rg BT 350.55 391.10 Td (which ) Tj ET Q q 0 0 0 rg BT 377.19 391.10 Td (is ) Tj ET Q q 0 0 0 rg BT 386.06 391.10 Td (vested ) Tj ET Q q 0 0 0 rg BT 413.80 391.10 Td (immediately) Tj ET Q q 0 0 0 rg BT 463.14 391.10 Td (.��During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 501.17 391.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 521.17 391.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.87 391.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.87 391.10 Td ( ) Tj ET Q q 0 0 0 rg BT 548.07 391.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 379.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 379.10 Td (, ) Tj ET Q q 0 0 0 rg BT 74.20 379.10 Td (our ) Tj ET Q q 0 0 0 rg BT 89.72 379.10 Td (matching ) Tj ET Q q 0 0 0 rg BT 129.13 379.10 Td (contributions ) Tj ET Q q 0 0 0 rg BT 184.10 379.10 Td (to ) Tj ET Q q 0 0 0 rg BT 194.08 379.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.49 379.10 Td (401\(k\) ) Tj ET Q q 0 0 0 rg BT 237.35 379.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 256.77 379.10 Td (were ) Tj ET Q q 0 0 0 rg BT 278.39 379.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 338.35 379.10 Td ($6.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 355.85 379.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.04 379.10 Td (million, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.63 379.10 Td ($7.1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 409.13 379.10 Td ( ) Tj ET Q q 0 0 0 rg BT 411.33 379.10 Td (million ) Tj ET Q q 0 0 0 rg BT 442.42 379.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 459.06 379.10 Td ($7.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.56 379.10 Td ( ) Tj ET Q q 0 0 0 rg BT 478.75 379.10 Td (million, ) Tj ET Q q 0 0 0 rg BT 512.34 379.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 560.00 379.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 355.10 Td (2017 Retir) Tj ET Q q 0 0 0 rg BT 94.03 355.10 Td (ement of ) Tj ET Q q 0 0 0 rg BT 133.27 355.10 Td (T) Tj ET Q q 0 0 0 rg BT 139.20 355.10 Td (r) Tj ET Q q 0 0 0 rg BT 143.46 355.10 Td (easury Stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 331.10 Td (During ) Tj ET Q q 0 0 0 rg BT 99.07 331.10 Td (the ) Tj ET Q q 0 0 0 rg BT 114.54 331.10 Td (year ) Tj ET Q q 0 0 0 rg BT 134.99 331.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 162.11 331.10 Td (December ) Tj ET Q q 0 0 0 rg BT 206.44 331.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 222.18 331.10 Td (2017, ) Tj ET Q q 0 0 0 rg BT 247.93 331.10 Td (we ) Tj ET Q q 0 0 0 rg BT 262.83 331.10 Td (retired�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 291.43 331.10 Td (5.0 ) Tj ET Q q 0 0 0 rg BT 307.17 331.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.06 331.10 Td (�shares ) Tj ET Q q 0 0 0 rg BT 366.80 331.10 Td (of ) Tj ET Q q 0 0 0 rg BT 378.37 331.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 413.28 331.10 Td (treasury ) Tj ET Q q 0 0 0 rg BT 448.73 331.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 475.59 331.10 Td (with ) Tj ET Q q 0 0 0 rg BT 496.61 331.10 Td (a ) Tj ET Q q 0 0 0 rg BT 504.29 331.10 Td (carrying ) Tj ET Q q 0 0 0 rg BT 540.85 331.10 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 319.10 Td (of�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.33 319.10 Td ($46.6 ) Tj ET Q q 0 0 0 rg BT 85.85 319.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 114.75 319.10 Td (, ) Tj ET Q q 0 0 0 rg BT 120.27 319.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 157.72 319.10 Td (principally ) Tj ET Q q 0 0 0 rg BT 204.07 319.10 Td (through ) Tj ET Q q 0 0 0 rg BT 238.20 319.10 Td (the ) Tj ET Q q 0 0 0 rg BT 253.44 319.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 289.23 319.10 Td (by ) Tj ET Q q 0 0 0 rg BT 302.25 319.10 Td (our ) Tj ET Q q 0 0 0 rg BT 318.61 319.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 364.40 319.10 Td (of ) Tj ET Q q 0 0 0 rg BT 375.75 319.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 403.77 319.10 Td (to ) Tj ET Q q 0 0 0 rg BT 414.57 319.10 Td (satisfy ) Tj ET Q q 0 0 0 rg BT 443.70 319.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 458.95 319.10 Td (withholding ) Tj ET Q q 0 0 0 rg BT 510.31 319.10 Td (requirements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 307.10 Td (related ) Tj ET Q q 0 0 0 rg BT 79.23 307.10 Td (to ) Tj ET Q q 0 0 0 rg BT 89.54 307.10 Td (the ) Tj ET Q q 0 0 0 rg BT 104.29 307.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 135.71 307.10 Td (of ) Tj ET Q q 0 0 0 rg BT 146.57 307.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 186.30 307.10 Td (shares, ) Tj ET Q q 0 0 0 rg BT 216.32 307.10 Td (as ) Tj ET Q q 0 0 0 rg BT 227.18 307.10 Td (well ) Tj ET Q q 0 0 0 rg BT 246.93 307.10 Td (as ) Tj ET Q q 0 0 0 rg BT 257.79 307.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 285.31 307.10 Td (acquired ) Tj ET Q q 0 0 0 rg BT 322.27 307.10 Td (through ) Tj ET Q q 0 0 0 rg BT 355.91 307.10 Td (our ) Tj ET Q q 0 0 0 rg BT 371.77 307.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 395.41 307.10 Td (repurchase ) Tj ET Q q 0 0 0 rg BT 441.24 307.10 Td (program. ) Tj ET Q q 0 0 0 rg BT 480.15 307.10 Td ( ) Tj ET Q q 0 0 0 rg BT 482.50 307.10 Td (These ) Tj ET Q q 0 0 0 rg BT 508.91 307.10 Td (retired ) Tj ET Q q 0 0 0 rg BT 537.53 307.10 Td (shares ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 295.10 Td (were ) Tj ET Q q 0 0 0 rg BT 71.42 295.10 Td (included ) Tj ET Q q 0 0 0 rg BT 108.35 295.10 Td (in ) Tj ET Q q 0 0 0 rg BT 118.62 295.10 Td (the ) Tj ET Q q 0 0 0 rg BT 133.33 295.10 Td (pool ) Tj ET Q q 0 0 0 rg BT 153.60 295.10 Td (of ) Tj ET Q q 0 0 0 rg BT 164.42 295.10 Td (authorized ) Tj ET Q q 0 0 0 rg BT 209.12 295.10 Td (but ) Tj ET Q q 0 0 0 rg BT 224.39 295.10 Td (unissued ) Tj ET Q q 0 0 0 rg BT 261.88 295.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 289.36 295.10 Td (at ) Tj ET Q q 0 0 0 rg BT 299.07 295.10 Td (the ) Tj ET Q q 0 0 0 rg BT 313.78 295.10 Td (date ) Tj ET Q q 0 0 0 rg BT 332.93 295.10 Td (of ) Tj ET Q q 0 0 0 rg BT 343.75 295.10 Td (retirement. ) Tj ET Q q 0 0 0 rg BT 389.83 295.10 Td ( ) Tj ET Q q 0 0 0 rg BT 392.33 295.10 Td (Our ) Tj ET Q q 0 0 0 rg BT 410.37 295.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 456.74 295.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 484.22 295.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 506.72 295.10 Td (the ) Tj ET Q q 0 0 0 rg BT 521.43 295.10 Td (retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 283.10 Td (of ) Tj ET Q q 0 0 0 rg BT 61.08 283.10 Td (treasury ) Tj ET Q q 0 0 0 rg BT 96.53 283.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 120.88 283.10 Td (is ) Tj ET Q q 0 0 0 rg BT 130.80 283.10 Td (to ) Tj ET Q q 0 0 0 rg BT 141.82 283.10 Td (deduct ) Tj ET Q q 0 0 0 rg BT 171.73 283.10 Td (its ) Tj ET Q q 0 0 0 rg BT 184.42 283.10 Td (par ) Tj ET Q q 0 0 0 rg BT 200.43 283.10 Td (value ) Tj ET Q q 0 0 0 rg BT 225.34 283.10 Td (from ) Tj ET Q q 0 0 0 rg BT 248.02 283.10 Td (common ) Tj ET Q q 0 0 0 rg BT 286.26 283.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 310.62 283.10 Td (and ) Tj ET Q q 0 0 0 rg BT 328.30 283.10 Td (reduce ) Tj ET Q q 0 0 0 rg BT 358.19 283.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 401.43 283.10 Td (paid-in ) Tj ET Q q 0 0 0 rg BT 433.00 283.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 462.90 283.10 Td (by ) Tj ET Q q 0 0 0 rg BT 476.14 283.10 Td (the ) Tj ET Q q 0 0 0 rg BT 491.61 283.10 Td (excess ) Tj ET Q q 0 0 0 rg BT 520.95 283.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 554.19 283.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 271.10 Td (treasury ) Tj ET Q q 0 0 0 rg BT 84.21 271.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 107.82 271.10 Td (retired.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 247.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 71.99 247.10 Td (9. ) Tj ET Q q 0 0 0 rg BT 81.99 247.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 108.38 247.10 Td (Compensation) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 223.10 Td (The ) Tj ET Q q 0 0 0 rg BT 84.85 223.10 Td (Amended ) Tj ET Q q 0 0 0 rg BT 126.04 223.10 Td (and ) Tj ET Q q 0 0 0 rg BT 142.79 223.10 Td (Restated ) Tj ET Q q 0 0 0 rg BT 179.54 223.10 Td (2004 ) Tj ET Q q 0 0 0 rg BT 201.86 223.10 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 240.84 223.10 Td (Stock ) Tj ET Q q 0 0 0 rg BT 265.93 223.10 Td (and ) Tj ET Q q 0 0 0 rg BT 282.69 223.10 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 322.20 223.10 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 344.80 223.10 Td (amended ) Tj ET Q q 0 0 0 rg BT 383.21 223.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.96 223.10 Td (restated ) Tj ET Q q 0 0 0 rg BT 433.37 223.10 Td (as ) Tj ET Q q 0 0 0 rg BT 444.01 223.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.66 223.10 Td (March ) Tj ET Q q 0 0 0 rg BT 483.07 223.10 Td (29, ) Tj ET Q q 0 0 0 rg BT 497.88 223.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 520.20 223.10 Td (\(the ) Tj ET Q q 0 0 0 rg BT 538.06 223.10 Td (�2004 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 211.10 Td (Plan�\), ) Tj ET Q q 0 0 0 rg BT 80.45 211.10 Td (is ) Tj ET Q q 0 0 0 rg BT 90.03 211.10 Td (an ) Tj ET Q q 0 0 0 rg BT 102.38 211.10 Td (incentive ) Tj ET Q q 0 0 0 rg BT 141.93 211.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 162.06 211.10 Td (that ) Tj ET Q q 0 0 0 rg BT 179.96 211.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 217.30 211.10 Td (for ) Tj ET Q q 0 0 0 rg BT 231.87 211.10 Td (the ) Tj ET Q q 0 0 0 rg BT 246.99 211.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 283.78 211.10 Td (of ) Tj ET Q q 0 0 0 rg BT 295.01 211.10 Td (incentive ) Tj ET Q q 0 0 0 rg BT 334.57 211.10 Td (and ) Tj ET Q q 0 0 0 rg BT 351.92 211.10 Td (non-qualified ) Tj ET Q q 0 0 0 rg BT 408.70 211.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 432.71 211.10 Td (options, ) Tj ET Q q 0 0 0 rg BT 467.57 211.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 507.67 211.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 531.69 211.10 Td (awards, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 199.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 89.08 199.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 112.56 199.10 Td (units, ) Tj ET Q q 0 0 0 rg BT 136.89 199.10 Td (SARs ) Tj ET Q q 0 0 0 rg BT 162.61 199.10 Td (settled ) Tj ET Q q 0 0 0 rg BT 191.09 199.10 Td (in ) Tj ET Q q 0 0 0 rg BT 201.25 199.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 227.23 199.10 Td (and ) Tj ET Q q 0 0 0 rg BT 244.05 199.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 323.05 199.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 353.74 199.10 Td (to ) Tj ET Q q 0 0 0 rg BT 363.90 199.10 Td (of) Tj ET Q q 0 0 0 rg BT 372.05 199.10 Td (ficers, ) Tj ET Q q 0 0 0 rg BT 399.13 199.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 444.27 199.10 Td (and ) Tj ET Q q 0 0 0 rg BT 461.09 199.10 Td (directors. ) Tj ET Q q 0 0 0 rg BT 500.95 199.10 Td ( ) Tj ET Q q 0 0 0 rg BT 503.33 199.10 Td (Since ) Tj ET Q q 0 0 0 rg BT 527.92 199.10 Td (the ) Tj ET Q q 0 0 0 rg BT 542.51 199.10 Td (2004 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 187.10 Td (Plan�) Tj ET Q q 0 0 0 rg BT 70.06 187.10 Td (s ) Tj ET Q q 0 0 0 rg BT 76.66 187.10 Td (inception, ) Tj ET Q q 0 0 0 rg BT 119.08 187.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 150.11 187.10 Td (covering ) Tj ET Q q 0 0 0 rg BT 187.80 187.10 Td (a ) Tj ET Q q 0 0 0 rg BT 194.95 187.10 Td (total ) Tj ET Q q 0 0 0 rg BT 215.43 187.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 226.47 187.10 Td (48.4 ) Tj ET Q q 0 0 0 rg BT 246.68 187.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 275.57 187.10 Td ( ) Tj ET Q q 0 0 0 rg BT 278.28 187.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 305.98 187.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.02 187.10 Td (common ) Tj ET Q q 0 0 0 rg BT 354.72 187.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 378.54 187.10 Td (have ) Tj ET Q q 0 0 0 rg BT 400.13 187.10 Td (been ) Tj ET Q q 0 0 0 rg BT 421.71 187.10 Td (authorized ) Tj ET Q q 0 0 0 rg BT 466.62 187.10 Td (for ) Tj ET Q q 0 0 0 rg BT 480.99 187.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 517.58 187.10 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 554.73 187.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 175.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.96 175.10 Td (2004 ) Tj ET Q q 0 0 0 rg BT 86.20 175.10 Td (Plan.��) Tj ET Q q 0 0 0 rg BT 110.93 175.10 Td (As ) Tj ET Q q 0 0 0 rg BT 124.28 175.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.85 175.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 193.18 175.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.18 175.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 217.92 175.10 Td (9.1 ) Tj ET Q q 0 0 0 rg BT 232.66 175.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.55 175.10 Td ( ) Tj ET Q q 0 0 0 rg BT 263.79 175.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 291.02 175.10 Td (were ) Tj ET Q q 0 0 0 rg BT 312.69 175.10 Td (available ) Tj ET Q q 0 0 0 rg BT 351.02 175.10 Td (under ) Tj ET Q q 0 0 0 rg BT 376.03 175.10 Td (the ) Tj ET Q q 0 0 0 rg BT 390.49 175.10 Td (2004 ) Tj ET Q q 0 0 0 rg BT 412.73 175.10 Td (Plan ) Tj ET Q q 0 0 0 rg BT 432.75 175.10 Td (for ) Tj ET Q q 0 0 0 rg BT 446.65 175.10 Td (future ) Tj ET Q q 0 0 0 rg BT 472.77 175.10 Td (issuance ) Tj ET Q q 0 0 0 rg BT 508.89 175.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.46 175.10 Td (awards, ) Tj ET Q q 0 0 0 rg BT 552.52 175.10 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 163.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.68 163.10 Td (which ) Tj ET Q q 0 0 0 rg BT 87.97 163.10 Td (could ) Tj ET Q q 0 0 0 rg BT 113.03 163.10 Td (be ) Tj ET Q q 0 0 0 rg BT 125.32 163.10 Td (issued ) Tj ET Q q 0 0 0 rg BT 153.17 163.10 Td (in ) Tj ET Q q 0 0 0 rg BT 163.80 163.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.86 163.10 Td (form ) Tj ET Q q 0 0 0 rg BT 201.15 163.10 Td (of ) Tj ET Q q 0 0 0 rg BT 212.33 163.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 252.38 163.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 276.34 163.10 Td (or ) Tj ET Q q 0 0 0 rg BT 287.52 163.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 366.99 163.10 Td (awards.��Our ) Tj ET Q q 0 0 0 rg BT 421.21 163.10 Td (incentive ) Tj ET Q q 0 0 0 rg BT 460.71 163.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 519.10 163.10 Td (program ) Tj ET Q q 0 0 0 rg BT 555.83 163.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 151.10 Td (administered ) Tj ET Q q 0 0 0 rg BT 103.74 151.10 Td (by ) Tj ET Q q 0 0 0 rg BT 116.32 151.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.12 151.10 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 191.48 151.10 Td (Committee ) Tj ET Q q 0 0 0 rg BT 238.51 151.10 Td (of ) Tj ET Q q 0 0 0 rg BT 249.42 151.10 Td (our ) Tj ET Q q 0 0 0 rg BT 265.34 151.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 292.36 151.10 Td (of ) Tj ET Q q 0 0 0 rg BT 303.28 151.10 Td (Directors. ) Tj ET Q q 0 0 0 rg BT 345.57 151.10 Td ( ) Tj ET Q q 0 0 0 rg BT 347.97 151.10 Td (The ) Tj ET Q q 0 0 0 rg BT 366.10 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BT 461.65 555.27 Td (19,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 555.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 555.27 Td (21,042) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 525.27 Td (Income tax benefit recognized for stock-based compensation arrangements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 525.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 525.27 Td (2,988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 525.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 525.27 Td (5,759) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 525.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 525.27 Td (5,698) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (SARs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 473.10 Td (Prior ) Tj ET Q q 0 0 0 rg BT 90.00 473.10 Td (to ) Tj ET Q q 0 0 0 rg BT 100.28 473.10 Td (January ) Tj ET Q q 0 0 0 rg BT 133.88 473.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 143.88 473.10 Td (2016, ) Tj ET Q q 0 0 0 rg BT 168.88 473.10 Td (we ) Tj ET Q q 0 0 0 rg BT 183.05 473.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 215.53 473.10 Td (SARs ) Tj ET Q q 0 0 0 rg BT 241.38 473.10 Td (settled ) Tj ET Q q 0 0 0 rg BT 269.98 473.10 Td (in ) Tj ET Q q 0 0 0 rg BT 280.26 473.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 303.87 473.10 Td (to ) Tj ET Q q 0 0 0 rg BT 314.15 473.10 Td (our ) Tj ET Q q 0 0 0 rg BT 329.98 473.10 Td (employees. ) Tj ET Q q 0 0 0 rg BT 377.75 473.10 Td ( ) Tj ET Q q 0 0 0 rg BT 380.07 473.10 Td (The ) Tj ET Q q 0 0 0 rg BT 398.12 473.10 Td (SARs ) Tj ET Q q 0 0 0 rg BT 423.96 473.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 463.67 473.10 Td (become ) Tj ET Q q 0 0 0 rg BT 497.26 473.10 Td (exercisable ) Tj ET Q q 0 0 0 rg BT 544.74 473.10 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 56.50 461.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.48 461.10 Td (-year ) Tj ET Q q 0 0 0 rg BT 99.58 461.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 131.03 461.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 161.64 461.10 Td (with ) Tj ET Q q 0 0 0 rg BT 181.98 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.76 461.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 230.41 461.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 255.19 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 266.08 461.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 297.53 461.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 345.07 461.10 Td (at ) Tj ET Q q 0 0 0 rg BT 354.85 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 369.62 461.10 Td (time ) Tj ET Q q 0 0 0 rg BT 389.96 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 400.85 461.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 423.96 461.10 Td (based ) Tj ET Q q 0 0 0 rg BT 449.29 461.10 Td (on ) Tj ET Q q 0 0 0 rg BT 461.85 461.10 Td (guidelines ) Tj ET Q q 0 0 0 rg BT 505.51 461.10 Td (established ) Tj ET Q q 0 0 0 rg BT 552.51 461.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.75 449.10 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 123.57 449.10 Td (Committee ) Tj ET Q q 0 0 0 rg BT 170.04 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 180.41 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 194.66 449.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 221.14 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 231.51 449.10 Td (Directors.��) Tj ET Q q 0 0 0 rg BT 276.03 449.10 Td (The ) Tj ET Q q 0 0 0 rg BT 293.62 449.10 Td (SARs ) Tj ET Q q 0 0 0 rg BT 319.00 449.10 Td (expire ) Tj ET Q q 0 0 0 rg BT 346.02 449.10 Td (over ) Tj ET Q q 0 0 0 rg BT 365.83 449.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 390.08 449.10 Td (not ) Tj ET Q q 0 0 0 rg BT 404.90 449.10 Td (to ) Tj ET Q q 0 0 0 rg BT 414.72 449.10 Td (exceed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.51 449.10 Td (7 ) Tj ET Q q 0 0 0 rg BT 451.54 449.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.64 449.10 Td ( ) Tj ET Q q 0 0 0 rg BT 474.68 449.10 Td (from ) Tj ET Q q 0 0 0 rg BT 496.16 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.41 449.10 Td (date ) Tj ET Q q 0 0 0 rg BT 529.10 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 539.47 449.10 Td (grant, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (90 ) Tj ET Q q 0 0 0 rg BT 61.52 437.10 Td (days ) Tj ET Q q 0 0 0 rg BT 81.87 437.10 Td (after ) Tj ET Q q 0 0 0 rg BT 102.21 437.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 150.33 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.68 437.10 Td (employment, ) Tj ET Q q 0 0 0 rg BT 215.19 437.10 Td (90 ) Tj ET Q q 0 0 0 rg BT 227.21 437.10 Td (days ) Tj ET Q q 0 0 0 rg BT 247.57 437.10 Td (or ) Tj ET Q q 0 0 0 rg BT 257.92 437.10 Td (one ) Tj ET Q q 0 0 0 rg BT 274.38 437.10 Td (year ) Tj ET Q q 0 0 0 rg BT 293.61 437.10 Td (after ) Tj ET Q q 0 0 0 rg BT 313.94 437.10 Td (permanent ) Tj ET Q q 0 0 0 rg BT 358.17 437.10 Td (disability) Tj ET Q q 0 0 0 rg BT 394.74 437.10 Td (, ) Tj ET Q q 0 0 0 rg BT 399.26 437.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 442.94 437.10 Td (on ) Tj ET Q q 0 0 0 rg BT 454.96 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 469.20 437.10 Td (award, ) Tj ET Q q 0 0 0 rg BT 498.15 437.10 Td (or ) Tj ET Q q 0 0 0 rg BT 508.50 437.10 Td (one ) Tj ET Q q 0 0 0 rg BT 524.96 437.10 Td (year ) Tj ET Q q 0 0 0 rg BT 544.19 437.10 Td (after ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.19 425.10 Td (death ) Tj ET Q q 0 0 0 rg BT 88.33 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 99.14 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.83 425.10 Td (optionee.��) Tj ET Q q 0 0 0 rg BT 155.58 425.10 Td (The ) Tj ET Q q 0 0 0 rg BT 173.61 425.10 Td (SARs ) Tj ET Q q 0 0 0 rg BT 199.43 425.10 Td (were ) Tj ET Q q 0 0 0 rg BT 221.34 425.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 253.80 425.10 Td (with ) Tj ET Q q 0 0 0 rg BT 274.06 425.10 Td (a ) Tj ET Q q 0 0 0 rg BT 280.97 425.10 Td (strike ) Tj ET Q q 0 0 0 rg BT 305.67 425.10 Td (price ) Tj ET Q q 0 0 0 rg BT 328.13 425.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 352.27 425.10 Td (to ) Tj ET Q q 0 0 0 rg BT 362.52 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 377.22 425.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 393.57 425.10 Td (market ) Tj ET Q q 0 0 0 rg BT 423.81 425.10 Td (value ) Tj ET Q q 0 0 0 rg BT 447.95 425.10 Td (at ) Tj ET Q q 0 0 0 rg BT 457.64 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.34 425.10 Td (time ) Tj ET Q q 0 0 0 rg BT 492.59 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 503.40 425.10 Td (grant, ) Tj ET Q q 0 0 0 rg BT 528.92 425.10 Td (which ) Tj ET Q q 0 0 0 rg BT 555.84 425.10 Td (is ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 89.20 413.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 121.69 413.10 Td (as ) Tj ET Q q 0 0 0 rg BT 132.52 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 147.23 413.10 Td (closing ) Tj ET Q q 0 0 0 rg BT 178.62 413.10 Td (price ) Tj ET Q q 0 0 0 rg BT 201.11 413.10 Td (on ) Tj ET Q q 0 0 0 rg BT 213.61 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 228.32 413.10 Td (NYSE ) Tj ET Q q 0 0 0 rg BT 256.94 413.10 Td (on ) Tj ET Q q 0 0 0 rg BT 269.44 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 284.15 413.10 Td (date ) Tj ET Q q 0 0 0 rg BT 303.31 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 314.14 413.10 Td (grant.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 389.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.55 389.10 Td (following ) Tj ET Q q 0 0 0 rg BT 126.93 389.10 Td (is ) Tj ET Q q 0 0 0 rg BT 136.10 389.10 Td (a ) Tj ET Q q 0 0 0 rg BT 143.04 389.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 182.76 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.59 389.10 Td (our ) Tj ET Q q 0 0 0 rg BT 209.42 389.10 Td (SAR ) Tj ET Q q 0 0 0 rg BT 231.37 389.10 Td (activity:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 325.60 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 287.00 325.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 291.00 325.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 325.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 325.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 325.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 325.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 325.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 325.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 295.60 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 287.00 295.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 291.00 295.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 295.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 295.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 295.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 295.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 295.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 295.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 265.60 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 287.00 265.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 291.00 265.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 265.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 265.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 265.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 265.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 265.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 265.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 235.60 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 287.00 235.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 291.00 235.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 235.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 235.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 235.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 235.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 235.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 235.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 325.6 m 356 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 325.6 m 425 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 325.6 m 494 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 325.6 m 563 325.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 250.60000000000002 m 356 250.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 236.60000000000002 m 356 236.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 234.60000000000002 m 356 234.60000000000002 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.85 337.85 Td (Number) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 329.85 Td (of ) Tj ET Q q 0 0 0 rg BT 315.24 329.85 Td (A) Tj ET Q q 0 0 0 rg BT 320.43 329.85 Td (wards) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.75 345.85 Td (W) Tj ET Q q 0 0 0 rg BT 383.98 345.85 Td (eighted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.75 337.85 Td (A) Tj ET Q q 0 0 0 rg BT 384.23 337.85 Td (verage) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 369.00 329.85 Td (Exercise Price) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 431.70 353.85 Td (W) Tj ET Q q 0 0 0 rg BT 438.93 353.85 Td (eighted ) Tj ET Q q 0 0 0 rg BT 463.94 353.85 Td (A) Tj ET Q q 0 0 0 rg BT 469.20 353.85 Td (verage) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 443.40 345.85 Td (Remaining) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 434.65 337.85 Td (Contractual Life) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.75 329.85 Td (\(in years\)) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.30 345.85 Td (Aggregate) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 506.60 337.85 Td (Intrinsic ) Tj ET Q q 0 0 0 rg BT 535.12 337.85 Td (V) Tj ET Q q 0 0 0 rg BT 540.01 337.85 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 507.20 329.85 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 315.27 Td (Outstanding at December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 315.27 Td (3,666,025) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 315.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 315.27 Td (13.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 300.27 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 300.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 300.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 285.27 Td (Exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 285.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 285.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 270.27 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 270.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 270.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 255.27 Td (Expired) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 308.80 255.32 Td (\(1,165,140) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 255.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 255.27 Td (18.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 240.27 Td (Outstanding at December 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 240.27 Td (2,500,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 240.27 Td (10.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 240.27 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 240.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 240.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 210.27 Td (Exercisable at end of period) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 312.15 210.27 Td (2,497,612) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 210.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 210.27 Td (10.41) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 478.00 210.27 Td (2.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 210.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 210.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 182.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.55 182.10 Td (following ) Tj ET Q q 0 0 0 rg BT 126.93 182.10 Td (is ) Tj ET Q q 0 0 0 rg BT 136.10 182.10 Td (a ) Tj ET Q q 0 0 0 rg BT 143.04 182.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 182.76 182.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.59 182.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.31 182.10 Td (total ) Tj ET Q q 0 0 0 rg BT 228.58 182.10 Td (intrinsic ) Tj ET Q q 0 0 0 rg BT 263.85 182.10 Td (value ) Tj ET Q q 0 0 0 rg BT 288.01 182.10 Td (of ) Tj ET Q q 0 0 0 rg BT 298.84 182.10 Td (SARs ) Tj ET Q q 0 0 0 rg BT 324.68 182.10 Td (exercised ) Tj ET Q q 0 0 0 rg BT 364.94 182.10 Td (and ) Tj ET Q q 0 0 0 rg BT 381.88 182.10 Td (grant-date ) Tj ET Q q 0 0 0 rg BT 424.91 182.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 441.28 182.10 Td (value ) Tj ET Q q 0 0 0 rg BT 465.44 182.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.27 182.10 Td (SARs ) Tj ET Q q 0 0 0 rg BT 502.11 182.10 Td (vested:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 141.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 141.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 141.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 141.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 141.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 141.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 141.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 156.60000000000002 m 425 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 156.60000000000002 m 429 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 156.60000000000002 m 494 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 156.60000000000002 m 498 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 156.60000000000002 m 563 156.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 141.60000000000002 m 356 141.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 141.60000000000002 m 425 141.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 141.60000000000002 m 494 141.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 141.60000000000002 m 563 141.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 141.60000000000002 m 425 141.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 141.60000000000002 m 494 141.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 141.60000000000002 m 563 141.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 161.27 Td (Y) Tj ET Q q 0 0 0 rg BT 415.17 161.27 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 146.31 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 146.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 146.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 146.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 131.27 Td (Intrinsic value of SARs exercised) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 131.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 131.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 131.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 131.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 131.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 131.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 116.27 Td (Grant-date fair value of SARs vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 116.27 Td (1,095) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 116.27 Td (1,818) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 116.27 Td (4,787) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 100.10 Td (�) Tj ET Q endstream endobj 179 0 obj <> endobj 180 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (89) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 713.10 Td (As ) Tj ET Q q 0 0 0 rg BT 80.92 713.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.55 713.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 149.93 713.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 169.93 713.10 Td (, ) Tj ET Q q 0 0 0 rg BT 174.74 713.10 Td (all ) Tj ET Q q 0 0 0 rg BT 187.03 713.10 Td (SARs ) Tj ET Q q 0 0 0 rg BT 212.68 713.10 Td (vested ) Tj ET Q q 0 0 0 rg BT 240.53 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.27 713.10 Td (there ) Tj ET Q q 0 0 0 rg BT 279.56 713.10 Td (was ) Tj ET Q q 0 0 0 rg BT 297.41 713.10 Td (no ) Tj ET Q q 0 0 0 rg BT 309.71 713.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 352.56 713.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 410.40 713.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 428.81 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 438.89 713.10 Td (be ) Tj ET Q q 0 0 0 rg BT 450.63 713.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 496.80 713.10 Td (in ) Tj ET Q q 0 0 0 rg BT 506.88 713.10 Td (future ) Tj ET Q q 0 0 0 rg BT 533.06 713.10 Td (periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (related ) Tj ET Q q 0 0 0 rg BT 80.78 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 92.63 701.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 137.26 701.10 Td (share-based ) Tj ET Q q 0 0 0 rg BT 188.53 701.10 Td (SAR ) Tj ET Q q 0 0 0 rg BT 212.06 701.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 271.68 701.10 Td (arrangements. ) Tj ET Q q 0 0 0 rg BT 332.12 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 335.90 701.10 Td (There ) Tj ET Q q 0 0 0 rg BT 363.29 701.10 Td (were ) Tj ET Q q 0 0 0 rg BT 386.79 701.10 Td (no ) Tj ET Q q 0 0 0 rg BT 400.87 701.10 Td (exercises ) Tj ET Q q 0 0 0 rg BT 441.59 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.00 701.10 Td (SARs ) Tj ET Q q 0 0 0 rg BT 481.42 701.10 Td (for ) Tj ET Q q 0 0 0 rg BT 497.15 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 513.45 701.10 Td (years ) Tj ET Q q 0 0 0 rg BT 538.62 701.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 108.08 689.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 689.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.08 689.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 153.08 689.10 Td ( ) Tj ET Q q 0 0 0 rg BT 155.58 689.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 166.41 689.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 186.41 689.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 95.87 665.10 Td (Stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 641.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 641.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.66 641.10 Td (grant ) Tj ET Q q 0 0 0 rg BT 105.29 641.10 Td (non-performance-based ) Tj ET Q q 0 0 0 rg BT 202.33 641.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 241.61 641.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 264.80 641.10 Td (to ) Tj ET Q q 0 0 0 rg BT 274.67 641.10 Td (employees ) Tj ET Q q 0 0 0 rg BT 319.51 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 336.04 641.10 Td (directors ) Tj ET Q q 0 0 0 rg BT 373.11 641.10 Td (as ) Tj ET Q q 0 0 0 rg BT 383.52 641.10 Td (part ) Tj ET Q q 0 0 0 rg BT 401.15 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 411.57 641.10 Td (our ) Tj ET Q q 0 0 0 rg BT 426.98 641.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 468.50 641.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 526.12 641.10 Td (program. ) Tj ET Q q 0 0 0 rg BT 565.00 641.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (Holders ) Tj ET Q q 0 0 0 rg BT 83.15 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 93.47 629.10 Td (non-performance-based ) Tj ET Q q 0 0 0 rg BT 190.41 629.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 229.60 629.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 252.70 629.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 283.00 629.10 Td (have ) Tj ET Q q 0 0 0 rg BT 303.87 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 318.08 629.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 342.84 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 353.16 629.10 Td (owning ) Tj ET Q q 0 0 0 rg BT 385.15 629.10 Td (non-restricted ) Tj ET Q q 0 0 0 rg BT 442.67 629.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 465.77 629.10 Td (\(including ) Tj ET Q q 0 0 0 rg BT 508.86 629.10 Td (voting ) Tj ET Q q 0 0 0 rg BT 536.41 629.10 Td (rights\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (except ) Tj ET Q q 0 0 0 rg BT 77.70 617.10 Td (that ) Tj ET Q q 0 0 0 rg BT 94.80 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 109.12 617.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 140.66 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 154.97 617.10 Td (not ) Tj ET Q q 0 0 0 rg BT 169.85 617.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 201.94 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 211.83 617.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 246.69 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 257.13 617.10 Td (a ) Tj ET Q q 0 0 0 rg BT 263.67 617.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 294.66 617.10 Td (thereof ) Tj ET Q q 0 0 0 rg BT 325.08 617.10 Td (until ) Tj ET Q q 0 0 0 rg BT 345.52 617.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 374.82 617.10 Td (requirements ) Tj ET Q q 0 0 0 rg BT 429.13 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 443.44 617.10 Td (met.��Beginning ) Tj ET Q q 0 0 0 rg BT 509.70 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 519.58 617.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 544.19 617.10 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 129.07 605.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 169.23 605.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 193.29 605.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 224.56 605.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 258.06 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 273.23 605.10 Td (holders ) Tj ET Q q 0 0 0 rg BT 305.62 605.10 Td (with ) Tj ET Q q 0 0 0 rg BT 326.35 605.10 Td (forfeitable ) Tj ET Q q 0 0 0 rg BT 370.94 605.10 Td (dividend ) Tj ET Q q 0 0 0 rg BT 408.88 605.10 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 453.49 605.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 479.22 605.10 Td (which ) Tj ET Q q 0 0 0 rg BT 506.61 605.10 Td (vests ) Tj ET Q q 0 0 0 rg BT 529.56 605.10 Td (with ) Tj ET Q q 0 0 0 rg BT 550.29 605.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 593.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 94.39 593.10 Td (shares. ) Tj ET Q q 0 0 0 rg BT 123.44 593.10 Td ( ) Tj ET Q q 0 0 0 rg BT 125.00 593.10 Td (Non-performance-based ) Tj ET Q q 0 0 0 rg BT 223.73 593.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 262.49 593.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 285.16 593.10 Td (vests ) Tj ET Q q 0 0 0 rg BT 306.72 593.10 Td (over ) Tj ET Q q 0 0 0 rg BT 326.05 593.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 332.05 593.10 Td (three) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.03 593.10 Td (-year ) Tj ET Q q 0 0 0 rg BT 374.13 593.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 404.58 593.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 434.18 593.10 Td (with ) Tj ET Q q 0 0 0 rg BT 453.52 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 467.30 593.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 499.95 593.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 523.73 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 533.62 593.10 Td (vesting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (determined ) Tj ET Q q 0 0 0 rg BT 96.98 581.10 Td (at ) Tj ET Q q 0 0 0 rg BT 106.70 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.41 581.10 Td (time ) Tj ET Q q 0 0 0 rg BT 141.69 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 152.52 581.10 Td (grant.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 557.10 Td (As ) Tj ET Q q 0 0 0 rg BT 83.03 557.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.78 557.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 156.28 557.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 176.28 557.10 Td (, ) Tj ET Q q 0 0 0 rg BT 183.19 557.10 Td (there ) Tj ET Q q 0 0 0 rg BT 207.60 557.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 227.56 557.10 Td ($23.0 ) Tj ET Q q 0 0 0 rg BT 254.48 557.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.37 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 287.79 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 300.53 557.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 358.81 557.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 418.77 557.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 455.40 557.10 Td (related ) Tj ET Q q 0 0 0 rg BT 487.01 557.10 Td (to ) Tj ET Q q 0 0 0 rg BT 499.21 557.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 544.17 557.10 Td (non-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 128.80 545.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 168.69 545.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 192.48 545.10 Td (grants.��) Tj ET Q q 0 0 0 rg BT 224.24 545.10 Td (This ) Tj ET Q q 0 0 0 rg BT 244.70 545.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 301.24 545.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 359.46 545.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 378.26 545.10 Td (is ) Tj ET Q q 0 0 0 rg BT 387.61 545.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 425.82 545.10 Td (to ) Tj ET Q q 0 0 0 rg BT 436.28 545.10 Td (be ) Tj ET Q q 0 0 0 rg BT 448.40 545.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 494.95 545.10 Td (over ) Tj ET Q q 0 0 0 rg BT 515.40 545.10 Td (a ) Tj ET Q q 0 0 0 rg BT 522.52 545.10 Td (weighted-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 533.10 Td (average ) Tj ET Q q 0 0 0 rg BT 83.06 533.10 Td (period ) Tj ET Q q 0 0 0 rg BT 111.08 533.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.88 533.10 Td (2.1 ) Tj ET Q q 0 0 0 rg BT 136.85 533.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 157.95 533.10 Td (.��) Tj ET Q q 0 0 0 rg BT 165.27 533.10 Td (The ) Tj ET Q q 0 0 0 rg BT 183.29 533.10 Td (following ) Tj ET Q q 0 0 0 rg BT 224.65 533.10 Td (is ) Tj ET Q q 0 0 0 rg BT 233.79 533.10 Td (a ) Tj ET Q q 0 0 0 rg BT 240.70 533.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 280.39 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 291.19 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 305.88 533.10 Td (total ) Tj ET Q q 0 0 0 rg BT 326.12 533.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 357.48 533.10 Td (date ) Tj ET Q q 0 0 0 rg BT 376.61 533.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 392.96 533.10 Td (value ) Tj ET Q q 0 0 0 rg BT 417.09 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 427.89 533.10 Td (non-performance-based ) Tj ET Q q 0 0 0 rg BT 525.31 533.10 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (stock:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 480.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 480.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 480.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 480.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 480.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 480.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 480.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 495.6 m 425 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 495.6 m 429 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 495.6 m 494 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 495.6 m 498 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 495.6 m 563 495.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 480.6 m 356 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 480.6 m 425 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 480.6 m 494 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 480.6 m 563 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 480.6 m 425 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 480.6 m 494 480.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 480.6 m 563 480.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 500.27 Td (Y) Tj ET Q q 0 0 0 rg BT 415.17 500.27 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 485.31 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 485.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 485.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 485.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 470.27 Td (Fair value of restricted stock vested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 470.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 470.27 Td (23,060) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 470.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 470.27 Td (9,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 470.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 470.27 Td (6,161) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 442.10 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 442.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.71 442.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 116.47 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.34 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 142.10 442.10 Td (status ) Tj ET Q q 0 0 0 rg BT 167.42 442.10 Td (of ) Tj ET Q q 0 0 0 rg BT 178.29 442.10 Td (our ) Tj ET Q q 0 0 0 rg BT 194.16 442.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 237.25 442.10 Td (non-performance-based ) Tj ET Q q 0 0 0 rg BT 334.74 442.10 Td (restricted ) Tj ET Q q 0 0 0 rg BT 374.49 442.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 398.14 442.10 Td (grants ) Tj ET Q q 0 0 0 rg BT 425.12 442.10 Td (issued, ) Tj ET Q q 0 0 0 rg BT 455.16 442.10 Td (and ) Tj ET Q q 0 0 0 rg BT 472.14 442.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.90 442.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 521.65 442.10 Td (during ) Tj ET Q q 0 0 0 rg BT 550.30 442.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 430.10 Td (year ) Tj ET Q q 0 0 0 rg BT 69.21 430.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 95.58 430.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 154.17 430.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 174.17 430.10 Td (, ) Tj ET Q q 0 0 0 rg BT 179.17 430.10 Td (is ) Tj ET Q q 0 0 0 rg BT 188.34 430.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 229.15 430.10 Td (below:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 382.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 382.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 382.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 382.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 382.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 352.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 352.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 352.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 352.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 352.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 322.60 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 322.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 322.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 322.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 322.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 382.6 m 424 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 382.6 m 493 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 382.6 m 562 382.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 322.6 m 493 322.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 308.6 m 493 308.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 306.6 m 493 306.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 446.85 394.85 Td (Number) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 445.00 386.85 Td (of Shares) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 513.75 410.85 Td (W) Tj ET Q q 0 0 0 rg BT 520.66 410.85 Td (eighted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 515.75 402.85 Td (A) Tj ET Q q 0 0 0 rg BT 520.93 402.85 Td (verage) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 511.00 394.85 Td (Grant-Date) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 512.50 386.85 Td (Fair ) Tj ET Q q 0 0 0 rg BT 527.24 386.85 Td (V) Tj ET Q q 0 0 0 rg BT 532.13 386.85 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 372.27 Td (Nonvested at December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 372.27 Td (9,748,683) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 372.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 372.27 Td (2.51) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 357.27 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 357.27 Td (4,651,571) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 357.27 Td (4.62) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 342.27 Td (V) Tj ET Q q 0 0 0 rg BT 58.17 342.27 Td (ested) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 342.32 Td (\(5,055,129) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 342.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 342.27 Td (2.81) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 327.27 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 327.32 Td (\(354,547) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 327.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 327.27 Td (3.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 312.27 Td (Nonvested at December 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 312.27 Td (8,990,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 312.27 Td (3.40) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 284.10 Td (Performance-Based ) Tj ET Q q 0 0 0 rg BT 136.41 284.10 Td (Equity ) Tj ET Q q 0 0 0 rg BT 167.26 284.10 Td (A) Tj ET Q q 0 0 0 rg BT 173.74 284.10 Td (wards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 260.10 Td (Annually) Tj ET Q q 0 0 0 rg BT 104.07 260.10 Td (, ) Tj ET Q q 0 0 0 rg BT 109.94 260.10 Td (the ) Tj ET Q q 0 0 0 rg BT 125.52 260.10 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 186.67 260.10 Td (Committee ) Tj ET Q q 0 0 0 rg BT 234.47 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 246.17 260.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.76 260.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 289.57 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 301.26 260.10 Td (Directors ) Tj ET Q q 0 0 0 rg BT 341.84 260.10 Td (grants ) Tj ET Q q 0 0 0 rg BT 369.65 260.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 449.64 260.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 478.00 260.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 509.69 260.10 Td (to ) Tj ET Q q 0 0 0 rg BT 520.84 260.10 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 558.61 260.10 Td (s ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 248.10 Td (ficers.��Performance-based ) Tj ET Q q 0 0 0 rg BT 167.47 248.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 198.73 248.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 238.86 248.10 Td (vest ) Tj ET Q q 0 0 0 rg BT 257.90 248.10 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.61 248.10 Td (1.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 296.11 248.10 Td ( ) Tj ET Q q 0 0 0 rg BT 299.04 248.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.75 248.10 Td (3.25) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 327.25 248.10 Td ( ) Tj ET Q q 0 0 0 rg BT 330.19 248.10 Td (years ) Tj ET Q q 0 0 0 rg BT 354.22 248.10 Td (for ) Tj ET Q q 0 0 0 rg BT 368.81 248.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 400.07 248.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 432.98 248.10 Td (in ) Tj ET Q q 0 0 0 rg BT 443.70 248.10 Td (2016 ) Tj ET Q q 0 0 0 rg BT 466.63 248.10 Td (and ) Tj ET Q q 0 0 0 rg BT 484.00 248.10 Td (2017 ) Tj ET Q q 0 0 0 rg BT 506.94 248.10 Td (and ) Tj ET Q q 0 0 0 rg BT 524.31 248.10 Td (over ) Tj ET Q q 0 0 0 rg BT 545.01 248.10 Td (3.25 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (years ) Tj ET Q q 0 0 0 rg BT 72.99 236.10 Td (for ) Tj ET Q q 0 0 0 rg BT 87.03 236.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 117.74 236.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 150.11 236.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.28 236.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 185.16 236.10 Td ( ) Tj ET Q q 0 0 0 rg BT 187.38 236.10 Td (The ) Tj ET Q q 0 0 0 rg BT 205.31 236.10 Td (number ) Tj ET Q q 0 0 0 rg BT 238.24 236.10 Td (of ) Tj ET Q q 0 0 0 rg BT 248.96 236.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 327.97 236.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 355.35 236.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 384.38 236.10 Td (\(and ) Tj ET Q q 0 0 0 rg BT 404.53 236.10 Td (eligible ) Tj ET Q q 0 0 0 rg BT 436.91 236.10 Td (to ) Tj ET Q q 0 0 0 rg BT 447.08 236.10 Td (vest\) ) Tj ET Q q 0 0 0 rg BT 468.90 236.10 Td (during ) Tj ET Q q 0 0 0 rg BT 497.40 236.10 Td (the ) Tj ET Q q 0 0 0 rg BT 512.00 236.10 Td (performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (period ) Tj ET Q q 0 0 0 rg BT 77.90 224.10 Td (will ) Tj ET Q q 0 0 0 rg BT 96.31 224.10 Td (depend ) Tj ET Q q 0 0 0 rg BT 128.05 224.10 Td (upon: ) Tj ET Q q 0 0 0 rg BT 153.68 224.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 168.20 224.10 Td (our ) Tj ET Q q 0 0 0 rg BT 184.38 224.10 Td (level ) Tj ET Q q 0 0 0 rg BT 206.67 224.10 Td (of ) Tj ET Q q 0 0 0 rg BT 217.86 224.10 Td (success ) Tj ET Q q 0 0 0 rg BT 250.70 224.10 Td (in ) Tj ET Q q 0 0 0 rg BT 261.34 224.10 Td (achieving ) Tj ET Q q 0 0 0 rg BT 303.06 224.10 Td (specifically ) Tj ET Q q 0 0 0 rg BT 352.01 224.10 Td (identified ) Tj ET Q q 0 0 0 rg BT 393.18 224.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 446.56 224.10 Td (tar) Tj ET Q q 0 0 0 rg BT 456.93 224.10 Td (gets ) Tj ET Q q 0 0 0 rg BT 475.89 224.10 Td (\(�Performance-Based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.10 Td (Operational ) Tj ET Q q 0 0 0 rg BT 99.25 212.10 Td (A) Tj ET Q q 0 0 0 rg BT 105.56 212.10 Td (wards�\) ) Tj ET Q q 0 0 0 rg BT 140.48 212.10 Td (and ) Tj ET Q q 0 0 0 rg BT 158.19 212.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 173.12 212.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 226.92 212.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.52 212.10 Td (our ) Tj ET Q q 0 0 0 rg BT 255.13 212.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 279.51 212.10 Td (relative ) Tj ET Q q 0 0 0 rg BT 312.76 212.10 Td (to ) Tj ET Q q 0 0 0 rg BT 323.81 212.10 Td (that ) Tj ET Q q 0 0 0 rg BT 342.08 212.10 Td (of ) Tj ET Q q 0 0 0 rg BT 353.68 212.10 Td (a ) Tj ET Q q 0 0 0 rg BT 361.39 212.10 Td (designated ) Tj ET Q q 0 0 0 rg BT 407.43 212.10 Td (peer ) Tj ET Q q 0 0 0 rg BT 427.91 212.10 Td (group ) Tj ET Q q 0 0 0 rg BT 454.51 212.10 Td (\(�Performance-Based ) Tj ET Q q 0 0 0 rg BT 544.17 212.10 Td (TSR ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 200.10 Td (A) Tj ET Q q 0 0 0 rg BT 55.80 200.10 Td (wards�\).��Generally) Tj ET Q q 0 0 0 rg BT 133.73 200.10 Td (, ) Tj ET Q q 0 0 0 rg BT 138.68 200.10 Td (one-half ) Tj ET Q q 0 0 0 rg BT 174.45 200.10 Td (of ) Tj ET Q q 0 0 0 rg BT 185.23 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.90 200.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 242.90 200.10 Td (number ) Tj ET Q q 0 0 0 rg BT 275.90 200.10 Td (of ) Tj ET Q q 0 0 0 rg BT 286.68 200.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 314.12 200.10 Td (that ) Tj ET Q q 0 0 0 rg BT 331.57 200.10 Td (could ) Tj ET Q q 0 0 0 rg BT 356.23 200.10 Td (be ) Tj ET Q q 0 0 0 rg BT 368.12 200.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 397.22 200.10 Td (under ) Tj ET Q q 0 0 0 rg BT 422.44 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.11 200.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 516.18 200.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 546.95 200.10 Td (will ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (be ) Tj ET Q q 0 0 0 rg BT 61.52 188.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 90.75 188.10 Td (for ) Tj ET Q q 0 0 0 rg BT 104.99 188.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 158.09 188.10 Td (at ) Tj ET Q q 0 0 0 rg BT 167.89 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 182.69 188.10 Td (designated ) Tj ET Q q 0 0 0 rg BT 228.04 188.10 Td (tar) Tj ET Q q 0 0 0 rg BT 238.40 188.10 Td (get ) Tj ET Q q 0 0 0 rg BT 253.20 188.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 279.11 188.10 Td (\(100% ) Tj ET Q q 0 0 0 rg BT 308.35 188.10 Td (tar) Tj ET Q q 0 0 0 rg BT 318.72 188.10 Td (get ) Tj ET Q q 0 0 0 rg BT 333.52 188.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 364.99 188.10 Td (levels\) ) Tj ET Q q 0 0 0 rg BT 394.22 188.10 Td (or ) Tj ET Q q 0 0 0 rg BT 405.14 188.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 427.72 188.10 Td (any ) Tj ET Q q 0 0 0 rg BT 444.74 188.10 Td (earlier ) Tj ET Q q 0 0 0 rg BT 472.85 188.10 Td (change ) Tj ET Q q 0 0 0 rg BT 503.75 188.10 Td (of ) Tj ET Q q 0 0 0 rg BT 514.66 188.10 Td (control, ) Tj ET Q q 0 0 0 rg BT 548.07 188.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (twice ) Tj ET Q q 0 0 0 rg BT 73.09 176.10 Td (the ) Tj ET Q q 0 0 0 rg BT 87.25 176.10 Td (tar) Tj ET Q q 0 0 0 rg BT 97.62 176.10 Td (get ) Tj ET Q q 0 0 0 rg BT 111.77 176.10 Td (number ) Tj ET Q q 0 0 0 rg BT 144.26 176.10 Td (of ) Tj ET Q q 0 0 0 rg BT 154.52 176.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 181.45 176.10 Td (will ) Tj ET Q q 0 0 0 rg BT 198.95 176.10 Td (be ) Tj ET Q q 0 0 0 rg BT 210.33 176.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 238.91 176.10 Td (if ) Tj ET Q q 0 0 0 rg BT 246.96 176.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.11 176.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 303.60 176.10 Td (tar) Tj ET Q q 0 0 0 rg BT 313.97 176.10 Td (get ) Tj ET Q q 0 0 0 rg BT 328.12 176.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 353.39 176.10 Td (are ) Tj ET Q q 0 0 0 rg BT 367.53 176.10 Td (met ) Tj ET Q q 0 0 0 rg BT 384.47 176.10 Td (\(200% ) Tj ET Q q 0 0 0 rg BT 413.06 176.10 Td (of ) Tj ET Q q 0 0 0 rg BT 423.33 176.10 Td (tar) Tj ET Q q 0 0 0 rg BT 433.70 176.10 Td (get ) Tj ET Q q 0 0 0 rg BT 447.85 176.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 478.68 176.10 Td (levels\).��) Tj ET Q q 0 0 0 rg BT 512.65 176.10 Td (W) Tj ET Q q 0 0 0 rg BT 521.69 176.10 Td (ith ) Tj ET Q q 0 0 0 rg BT 534.19 176.10 Td (respect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.67 164.10 Td (the ) Tj ET Q q 0 0 0 rg BT 74.28 164.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 153.29 164.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 180.68 164.10 Td (awards, ) Tj ET Q q 0 0 0 rg BT 213.89 164.10 Td (any ) Tj ET Q q 0 0 0 rg BT 230.72 164.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 267.00 164.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 296.04 164.10 Td (above ) Tj ET Q q 0 0 0 rg BT 322.30 164.10 Td (the ) Tj ET Q q 0 0 0 rg BT 336.91 164.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 362.63 164.10 Td (tar) Tj ET Q q 0 0 0 rg BT 373.00 164.10 Td (get ) Tj ET Q q 0 0 0 rg BT 387.61 164.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 413.33 164.10 Td (will ) Tj ET Q q 0 0 0 rg BT 431.27 164.10 Td (be ) Tj ET Q q 0 0 0 rg BT 443.10 164.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 476.59 164.10 Td (in ) Tj ET Q q 0 0 0 rg BT 486.76 164.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 509.42 164.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 535.13 164.10 Td (than ) Tj ET Q q 0 0 0 rg BT 554.73 164.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 152.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 77.01 152.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.86 152.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 125.37 152.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 151.50 152.10 Td (in ) Tj ET Q q 0 0 0 rg BT 161.79 152.10 Td (order ) Tj ET Q q 0 0 0 rg BT 185.41 152.10 Td (to ) Tj ET Q q 0 0 0 rg BT 195.71 152.10 Td (conserve ) Tj ET Q q 0 0 0 rg BT 233.77 152.10 Td (available ) Tj ET Q q 0 0 0 rg BT 272.38 152.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 299.89 152.10 Td (under ) Tj ET Q q 0 0 0 rg BT 325.17 152.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.91 152.10 Td (Plan. ) Tj ET Q q 0 0 0 rg BT 362.71 152.10 Td ( ) Tj ET Q q 0 0 0 rg BT 365.23 152.10 Td (If ) Tj ET Q q 0 0 0 rg BT 374.41 152.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 427.45 152.10 Td (is ) Tj ET Q q 0 0 0 rg BT 436.64 152.10 Td (below ) Tj ET Q q 0 0 0 rg BT 463.60 152.10 Td (the ) Tj ET Q q 0 0 0 rg BT 478.33 152.10 Td (designated ) Tj ET Q q 0 0 0 rg BT 523.62 152.10 Td (minimum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 140.10 Td (levels, ) Tj ET Q q 0 0 0 rg BT 78.65 140.10 Td (no ) Tj ET Q q 0 0 0 rg BT 91.97 140.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 171.92 140.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 200.23 140.10 Td (will ) Tj ET Q q 0 0 0 rg BT 219.11 140.10 Td (be ) Tj ET Q q 0 0 0 rg BT 231.88 140.10 Td (earned.��Performance-Based ) Tj ET Q q 0 0 0 rg BT 348.20 140.10 Td (Operational ) Tj ET Q q 0 0 0 rg BT 397.99 140.10 Td (A) Tj ET Q q 0 0 0 rg BT 404.30 140.10 Td (wards ) Tj ET Q q 0 0 0 rg BT 431.50 140.10 Td (are ) Tj ET Q q 0 0 0 rg BT 447.03 140.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 477.01 140.10 Td (using ) Tj ET Q q 0 0 0 rg BT 502.01 140.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.55 140.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 534.75 140.10 Td (market ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (value ) Tj ET Q q 0 0 0 rg BT 73.66 128.10 Td (of ) Tj ET Q q 0 0 0 rg BT 84.49 128.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 121.98 128.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 148.08 128.10 Td (and ) Tj ET Q q 0 0 0 rg BT 165.02 128.10 Td (Performance-Based ) Tj ET Q q 0 0 0 rg BT 246.19 128.10 Td (TSR ) Tj ET Q q 0 0 0 rg BT 266.48 128.10 Td (A) Tj ET Q q 0 0 0 rg BT 272.79 128.10 Td (wards ) Tj ET Q q 0 0 0 rg BT 299.17 128.10 Td (are ) Tj ET Q q 0 0 0 rg BT 313.88 128.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 343.03 128.10 Td (using ) Tj ET Q q 0 0 0 rg BT 367.20 128.10 Td (a ) Tj ET Q q 0 0 0 rg BT 374.14 128.10 Td (Monte ) Tj ET Q q 0 0 0 rg BT 402.75 128.10 Td (Carlo ) Tj ET Q q 0 0 0 rg BT 427.46 128.10 Td (simulation.) Tj ET Q endstream endobj 181 0 obj <> endobj 182 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 701.10 Td (As ) Tj ET Q q 0 0 0 rg BT 81.00 701.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 91.71 701.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 150.17 701.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 170.17 701.10 Td (, ) Tj ET Q q 0 0 0 rg BT 175.05 701.10 Td (there ) Tj ET Q q 0 0 0 rg BT 197.42 701.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.36 701.10 Td ($4.3 ) Tj ET Q q 0 0 0 rg BT 235.24 701.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.13 701.10 Td ( ) Tj ET Q q 0 0 0 rg BT 266.51 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 277.22 701.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 333.47 701.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 391.39 701.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 425.98 701.10 Td (related ) Tj ET Q q 0 0 0 rg BT 455.56 701.10 Td (to ) Tj ET Q q 0 0 0 rg BT 465.72 701.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 508.65 701.10 Td (performance-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (based ) Tj ET Q q 0 0 0 rg BT 74.98 689.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 102.69 689.10 Td (awards.��) Tj ET Q q 0 0 0 rg BT 138.33 689.10 Td (This ) Tj ET Q q 0 0 0 rg BT 158.82 689.10 Td (unrecognized ) Tj ET Q q 0 0 0 rg BT 215.39 689.10 Td (compensation ) Tj ET Q q 0 0 0 rg BT 273.64 689.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 292.46 689.10 Td (is ) Tj ET Q q 0 0 0 rg BT 301.84 689.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 340.09 689.10 Td (to ) Tj ET Q q 0 0 0 rg BT 350.58 689.10 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4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 564.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 639.6 m 425 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 639.6 m 429 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 639.6 m 494 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 639.6 m 498 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 639.6 m 563 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 639.6 m 425 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 624.6 m 425 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 639.6 m 494 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 624.6 m 494 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 639.6 m 498 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 639.6 m 563 639.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 624.6 m 563 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 624.6 m 425 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 624.6 m 494 624.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 624.6 m 563 624.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 644.27 Td (Y) Tj ET Q q 0 0 0 rg BT 415.17 644.27 Td (ear Ended December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 629.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 629.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 629.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 629.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 614.27 Td (W) Tj ET Q q 0 0 0 rg BT 61.54 614.27 Td (eighted average fair value of Performance-Based ) Tj ET Q q 0 0 0 rg BT 259.28 614.27 Td (TSR ) Tj ET Q q 0 0 0 rg BT 279.75 614.27 Td (A) Tj ET Q q 0 0 0 rg BT 286.24 614.27 Td (wards granted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 614.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 614.27 Td (2.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 614.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 614.27 Td (3.42) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 614.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 614.27 Td (1.78) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 599.27 Td (Risk-free interest rate) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 599.27 Td (2.37) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 599.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 599.27 Td (1.49) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 599.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 599.27 Td (1.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 599.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 584.27 Td (Expected life) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.40 584.27 Td (3.0 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.40 584.27 Td (3.0 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.40 584.27 Td (3.0 years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 569.27 Td (Expected volatility) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 569.27 Td (102.9) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 569.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 569.27 Td (94.7) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 569.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 569.27 Td (57.2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 569.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 554.27 Td (Dividend yield) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.15 554.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.15 554.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 554.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.15 554.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 544.15 554.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 554.15 554.27 Td (%) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 526.10 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 526.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.21 526.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 117.48 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 128.85 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 144.11 526.10 Td (status ) Tj ET Q q 0 0 0 rg BT 169.93 526.10 Td (of ) Tj ET Q q 0 0 0 rg BT 181.31 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 196.57 526.10 Td (nonvested ) Tj ET Q q 0 0 0 rg BT 240.16 526.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 319.83 526.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 347.87 526.10 Td (awards ) Tj ET Q q 0 0 0 rg BT 379.23 526.10 Td (\(presented ) Tj ET Q q 0 0 0 rg BT 423.92 526.10 Td (at ) Tj ET Q q 0 0 0 rg BT 434.18 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 449.44 526.10 Td (tar) Tj ET Q q 0 0 0 rg BT 459.81 526.10 Td (get ) Tj ET Q q 0 0 0 rg BT 475.07 526.10 Td (level\) ) Tj ET Q q 0 0 0 rg BT 500.88 526.10 Td (during ) Tj ET Q q 0 0 0 rg BT 530.03 526.10 Td (the ) Tj ET Q q 0 0 0 rg BT 545.29 526.10 Td (year ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 514.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.88 514.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 134.46 514.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.46 514.10 Td (, ) Tj ET Q q 0 0 0 rg BT 159.46 514.10 Td (is ) Tj ET Q q 0 0 0 rg BT 168.63 514.10 Td (as ) Tj ET Q q 0 0 0 rg BT 179.46 514.10 Td (follows:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 446.60 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 287.00 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 291.00 446.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 446.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 446.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 446.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 446.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 416.60 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 287.00 416.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 291.00 416.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 416.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 416.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 416.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 416.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 416.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 416.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 386.60 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 287.00 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 291.00 386.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 386.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 386.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 386.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 386.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 483.6 m 356 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 356 483.6 m 360 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 483.6 m 425 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 483.6 m 494 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 483.6 m 498 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 483.6 m 563 483.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 446.6 m 356 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 446.6 m 425 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 446.6 m 494 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 446.6 m 563 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 446.6 m 356 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 446.6 m 425 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 446.6 m 494 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 446.6 m 563 446.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 386.6 m 356 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 386.6 m 494 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 386.6 m 356 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 372.6 m 356 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 291 370.6 m 356 370.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 386.6 m 494 386.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 372.6 m 494 372.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 370.6 m 494 370.6 l s BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.95 495.55 Td (Performance-Based) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 325.75 487.55 Td (Operational ) Tj ET Q q 0 0 0 rg BT 365.07 487.55 Td (A) Tj ET Q q 0 0 0 rg BT 370.11 487.55 Td (wards) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 463.95 495.55 Td (Performance-Based) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 475.30 487.55 Td (TSR ) Tj ET Q q 0 0 0 rg BT 491.53 487.55 Td (A) Tj ET Q q 0 0 0 rg BT 496.57 487.55 Td (wards) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 309.85 458.85 Td (Number) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 306.80 450.85 Td (of ) Tj ET Q q 0 0 0 rg BT 315.24 450.85 Td (A) Tj ET Q q 0 0 0 rg BT 320.43 450.85 Td (wards) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 376.75 474.85 Td (W) Tj ET Q q 0 0 0 rg BT 383.98 474.85 Td (eighted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 378.75 466.85 Td (A) Tj ET Q q 0 0 0 rg BT 384.23 466.85 Td (verage) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 366.55 458.85 Td (Grant-Date Fair) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 382.85 450.85 Td (V) Tj ET Q q 0 0 0 rg BT 388.18 450.85 Td (alue) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 447.85 458.85 Td (Number) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 444.80 450.85 Td (of ) Tj ET Q q 0 0 0 rg BT 453.24 450.85 Td (A) Tj ET Q q 0 0 0 rg BT 458.43 450.85 Td (wards) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 514.75 474.85 Td (W) Tj ET Q q 0 0 0 rg BT 521.66 474.85 Td (eighted) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 516.75 466.85 Td (A) Tj ET Q q 0 0 0 rg BT 521.93 466.85 Td (verage) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 504.55 458.85 Td (Grant-Date Fair) Tj ET Q BT /F1 8.00 Tf ET q 0 0 0 rg BT 520.85 450.85 Td (V) Tj ET Q q 0 0 0 rg BT 525.74 450.85 Td (alue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 436.27 Td (Nonvested at December 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 436.27 Td (554,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 436.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 436.27 Td (5.47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 436.27 Td (2,497,417) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 436.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 436.27 Td (3.76) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 421.27 Td (Granted) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 84.71 425.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 421.27 Td (857,812) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 421.27 Td (2.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 421.27 Td (1,705,342) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 421.27 Td (2.29) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 406.27 Td (V) Tj ET Q q 0 0 0 rg BT 58.61 406.27 Td (ested) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 79.16 410.80 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.30 406.32 Td (\(554,218) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 352.15 406.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 406.27 Td (5.47) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 454.30 406.32 Td (\(396,643) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 490.15 406.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 406.27 Td (7.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 391.27 Td (Forfeited) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.15 391.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 391.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 391.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 391.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 376.27 Td (Nonvested at December 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 319.65 376.27 Td (857,812) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 376.27 Td (2.43) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 376.27 Td (3,806,1) Tj ET Q q 0 0 0 rg BT 480.15 376.27 Td (16) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 376.27 Td (2.71) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 348.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 348.10 Td (Amounts ) Tj ET Q q 0 0 0 rg BT 106.65 348.10 Td (granted ) Tj ET Q q 0 0 0 rg BT 139.11 348.10 Td (reflect ) Tj ET Q q 0 0 0 rg BT 167.12 348.10 Td (the ) Tj ET Q q 0 0 0 rg BT 181.81 348.10 Td (number ) Tj ET Q q 0 0 0 rg BT 214.84 348.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.64 348.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 278.64 348.10 Td (units ) Tj ET Q q 0 0 0 rg BT 300.57 348.10 Td (granted. ) Tj ET Q q 0 0 0 rg BT 335.53 348.10 Td ( ) Tj ET Q q 0 0 0 rg BT 337.83 348.10 Td (The ) Tj ET Q q 0 0 0 rg BT 355.85 348.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 382.20 348.10 Td (payout ) Tj ET Q q 0 0 0 rg BT 411.90 348.10 Td (of ) Tj ET Q q 0 0 0 rg BT 422.70 348.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.40 348.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 464.86 348.10 Td (may ) Tj ET Q q 0 0 0 rg BT 484.56 348.10 Td (be ) Tj ET Q q 0 0 0 rg BT 496.47 348.10 Td (between ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 532.27 348.10 Td (0%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 545.60 348.10 Td ( ) Tj ET Q q 0 0 0 rg BT 548.07 348.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 336.10 Td (200%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 90.83 336.10 Td (, ) Tj ET Q q 0 0 0 rg BT 95.37 336.10 Td (with ) Tj ET Q q 0 0 0 rg BT 115.19 336.10 Td (any ) Tj ET Q q 0 0 0 rg BT 131.67 336.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 167.59 336.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 196.28 336.10 Td (above ) Tj ET Q q 0 0 0 rg BT 222.20 336.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.45 336.10 Td (100% ) Tj ET Q q 0 0 0 rg BT 261.82 336.10 Td (tar) Tj ET Q q 0 0 0 rg BT 272.19 336.10 Td (get ) Tj ET Q q 0 0 0 rg BT 286.45 336.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 311.81 336.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 344.95 336.10 Td (in ) Tj ET Q q 0 0 0 rg BT 354.76 336.10 Td (cash, ) Tj ET Q q 0 0 0 rg BT 377.07 336.10 Td (rather ) Tj ET Q q 0 0 0 rg BT 402.43 336.10 Td (than ) Tj ET Q q 0 0 0 rg BT 421.68 336.10 Td (in ) Tj ET Q q 0 0 0 rg BT 431.50 336.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 458.53 336.10 Td (of ) Tj ET Q q 0 0 0 rg BT 468.90 336.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 505.93 336.10 Td (stock, ) Tj ET Q q 0 0 0 rg BT 531.58 336.10 Td (in ) Tj ET Q q 0 0 0 rg BT 541.40 336.10 Td (order ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 324.10 Td (to ) Tj ET Q q 0 0 0 rg BT 77.78 324.10 Td (conserve ) Tj ET Q q 0 0 0 rg BT 115.82 324.10 Td (available ) Tj ET Q q 0 0 0 rg BT 154.40 324.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 181.89 324.10 Td (under ) Tj ET Q q 0 0 0 rg BT 207.16 324.10 Td (the ) Tj ET Q q 0 0 0 rg BT 221.88 324.10 Td (Plan.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 312.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 312.10 Td (During ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.86 312.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 118.86 312.10 Td (, ) Tj ET Q q 0 0 0 rg BT 124.40 312.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.65 312.10 Td (service ) Tj ET Q q 0 0 0 rg BT 171.00 312.10 Td (period ) Tj ET Q q 0 0 0 rg BT 199.58 312.10 Td (lapsed ) Tj ET Q q 0 0 0 rg BT 228.16 312.10 Td (on ) Tj ET Q q 0 0 0 rg BT 241.19 312.10 Td (these ) Tj ET Q q 0 0 0 rg BT 264.77 312.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 318.33 312.10 Td (unit ) Tj ET Q q 0 0 0 rg BT 336.92 312.10 Td (awards. ) Tj ET Q q 0 0 0 rg BT 370.77 312.10 Td ( ) Tj ET Q q 0 0 0 rg BT 373.59 312.10 Td (The ) Tj ET Q q 0 0 0 rg BT 392.17 312.10 Td (lapsed ) Tj ET Q q 0 0 0 rg BT 420.75 312.10 Td (units ) Tj ET Q q 0 0 0 rg BT 443.23 312.10 Td (earned ) Tj ET Q q 0 0 0 rg BT 472.91 312.10 Td (a ) Tj ET Q q 0 0 0 rg BT 480.38 312.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 520.07 312.10 Td (average ) Tj ET Q q 0 0 0 rg BT 554.19 312.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 300.10 Td (75%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.83 300.10 Td ( ) Tj ET Q q 0 0 0 rg BT 88.63 300.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 105.88 300.10 Td (53%) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 124.21 300.10 Td ( ) Tj ET Q q 0 0 0 rg BT 127.01 300.10 Td (of ) Tj ET Q q 0 0 0 rg BT 138.15 300.10 Td (tar) Tj ET Q q 0 0 0 rg BT 148.51 300.10 Td (get ) Tj ET Q q 0 0 0 rg BT 163.53 300.10 Td (for ) Tj ET Q q 0 0 0 rg BT 178.00 300.10 Td (each ) Tj ET Q q 0 0 0 rg BT 199.12 300.10 Td (vested ) Tj ET Q q 0 0 0 rg BT 227.47 300.10 Td (Operational ) Tj ET Q q 0 0 0 rg BT 277.47 300.10 Td (and ) Tj ET Q q 0 0 0 rg BT 294.51 300.10 Td (TSR ) Tj ET Q q 0 0 0 rg BT 315.66 300.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 395.08 300.10 Td (award, ) Tj ET Q q 0 0 0 rg BT 424.82 300.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 472.48 300.10 Td (, ) Tj ET Q q 0 0 0 rg BT 477.78 300.10 Td (representing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.01 300.10 Td (415,045) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 288.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 108.86 288.10 Td (shares ) Tj ET Q q 0 0 0 rg BT 136.35 288.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.18 288.10 Td (common ) Tj ET Q q 0 0 0 rg BT 184.68 288.10 Td (stock ) Tj ET Q q 0 0 0 rg BT 208.29 288.10 Td (issued.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 264.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.55 264.10 Td (following ) Tj ET Q q 0 0 0 rg BT 126.93 264.10 Td (is ) Tj ET Q q 0 0 0 rg BT 136.10 264.10 Td (a ) Tj ET Q q 0 0 0 rg BT 143.04 264.10 Td (summary ) Tj ET Q q 0 0 0 rg BT 182.76 264.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.59 264.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.31 264.10 Td (total ) Tj ET Q q 0 0 0 rg BT 228.58 264.10 Td (vesting ) Tj ET Q q 0 0 0 rg BT 259.97 264.10 Td (date ) Tj ET Q q 0 0 0 rg BT 279.12 264.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 295.50 264.10 Td (value ) Tj ET Q q 0 0 0 rg BT 319.65 264.10 Td (of ) Tj ET Q q 0 0 0 rg BT 330.48 264.10 Td (performance-based ) Tj ET Q q 0 0 0 rg BT 409.60 264.10 Td (equity ) Tj ET Q q 0 0 0 rg BT 437.10 264.10 Td (awards:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 223.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 223.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 223.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 223.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 223.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 238.60000000000002 m 425 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 238.60000000000002 m 429 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 238.60000000000002 m 494 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 238.60000000000002 m 498 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 238.60000000000002 m 563 238.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 223.60000000000002 m 356 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 223.60000000000002 m 425 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 223.60000000000002 m 494 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 223.60000000000002 m 563 223.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 223.60000000000002 m 425 223.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 243.27 Td (Y) Tj ET Q q 0 0 0 rg BT 415.17 243.27 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 228.31 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 228.27 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 228.27 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 228.27 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 213.27 Td (V) Tj ET Q q 0 0 0 rg BT 59.17 213.27 Td (esting date fair value of Performance-Based Operational ) Tj ET Q q 0 0 0 rg BT 286.30 213.27 Td (A) Tj ET Q q 0 0 0 rg BT 292.78 213.27 Td (wards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 213.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.15 213.27 Td (595) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 213.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 213.27 Td (1,079) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 213.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 213.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 198.27 Td (V) Tj ET Q q 0 0 0 rg BT 58.61 198.27 Td (esting date fair value of Performance-Based ) Tj ET Q q 0 0 0 rg BT 236.69 198.27 Td (TSR ) Tj ET Q q 0 0 0 rg BT 256.98 198.27 Td (A) Tj ET Q q 0 0 0 rg BT 263.28 198.27 Td (wards) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 406.15 198.27 Td (542) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 475.15 198.27 Td (227) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 198.27 Td (81) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 170.10 Td (Note 10. Commodity Derivative Contracts) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 146.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 146.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.00 146.10 Td (do ) Tj ET Q q 0 0 0 rg BT 95.42 146.10 Td (not ) Tj ET Q q 0 0 0 rg BT 110.63 146.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 135.27 146.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 161.57 146.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 207.87 146.10 Td (treatment ) Tj ET Q q 0 0 0 rg BT 248.05 146.10 Td (to ) Tj ET Q q 0 0 0 rg BT 258.25 146.10 Td (our ) Tj ET Q q 0 0 0 rg BT 274.01 146.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 286.99 146.10 Td (and ) Tj ET Q q 0 0 0 rg BT 303.85 146.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 334.04 146.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 349.79 146.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 392.20 146.10 Td (contracts; ) Tj ET Q q 0 0 0 rg BT 433.49 146.10 Td (therefore, ) Tj ET Q q 0 0 0 rg BT 474.50 146.10 Td (the ) Tj ET Q q 0 0 0 rg BT 489.14 146.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 523.77 146.10 Td (in ) Tj ET Q q 0 0 0 rg BT 533.98 146.10 Td (the ) Tj ET Q q 0 0 0 rg BT 548.62 146.10 Td (fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 134.10 Td (values ) Tj ET Q q 0 0 0 rg BT 77.04 134.10 Td (of ) Tj ET Q q 0 0 0 rg BT 87.36 134.10 Td (these ) Tj ET Q q 0 0 0 rg BT 109.89 134.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 158.55 134.10 Td (are ) Tj ET Q q 0 0 0 rg BT 172.74 134.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 218.60 134.10 Td (in ) Tj ET Q q 0 0 0 rg BT 228.36 134.10 Td (income ) Tj ET Q q 0 0 0 rg BT 259.79 134.10 Td (in ) Tj ET Q q 0 0 0 rg BT 269.56 134.10 Td (the ) Tj ET Q q 0 0 0 rg BT 283.76 134.10 Td (period ) Tj ET Q q 0 0 0 rg BT 311.30 134.10 Td (of ) Tj ET Q q 0 0 0 rg BT 321.62 134.10 Td (change.��) Tj ET Q q 0 0 0 rg BT 357.25 134.10 Td (These ) Tj ET Q q 0 0 0 rg BT 383.12 134.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 398.99 134.10 Td (value ) Tj ET Q q 0 0 0 rg BT 422.63 134.10 Td (changes, ) Tj ET Q q 0 0 0 rg BT 459.33 134.10 Td (along ) Tj ET Q q 0 0 0 rg BT 483.54 134.10 Td (with ) Tj ET Q q 0 0 0 rg BT 503.30 134.10 Td (the ) Tj ET Q q 0 0 0 rg BT 517.51 134.10 Td (settlements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 122.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.08 122.10 Td (expired ) Tj ET Q q 0 0 0 rg BT 92.31 122.10 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 133.15 122.10 Td (are ) Tj ET Q q 0 0 0 rg BT 147.61 122.10 Td (shown ) Tj ET Q q 0 0 0 rg BT 175.97 122.10 Td (under ) Tj ET Q q 0 0 0 rg BT 200.98 122.10 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.42 122.10 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 255.45 122.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 301.57 122.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 336.03 122.10 Td (\(income\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.12 122.10 Td (� ) Tj ET Q q 0 0 0 rg BT 378.81 122.10 Td (in ) Tj ET Q q 0 0 0 rg BT 388.83 122.10 Td (our ) Tj ET Q q 0 0 0 rg BT 404.41 122.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 459.43 122.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 505.56 122.10 Td (of ) Tj ET Q q 0 0 0 rg BT 516.14 122.10 Td (Operations.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 98.10 Td (Historically) Tj ET Q q 0 0 0 rg BT 114.06 98.10 Td (, ) Tj ET Q q 0 0 0 rg BT 118.17 98.10 Td (we ) Tj ET Q q 0 0 0 rg BT 131.44 98.10 Td (have ) Tj ET Q q 0 0 0 rg BT 151.92 98.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 182.96 98.10 Td (into ) Tj ET Q q 0 0 0 rg BT 200.12 98.10 Td (various ) Tj ET Q q 0 0 0 rg BT 231.17 98.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 243.33 98.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.38 98.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 288.75 98.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 303.69 98.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 345.27 98.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 382.98 98.10 Td (to ) Tj ET Q q 0 0 0 rg BT 392.36 98.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 424.52 98.10 Td (an ) Tj ET Q q 0 0 0 rg BT 435.56 98.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 476.04 98.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 501.53 98.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.47 98.10 Td (our ) Tj ET Q q 0 0 0 rg BT 526.40 98.10 Td (exposure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 86.10 Td (to ) Tj ET Q q 0 0 0 rg BT 60.40 86.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 109.07 86.10 Td (price ) Tj ET Q q 0 0 0 rg BT 132.17 86.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 150.29 86.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 194.50 86.10 Td (with ) Tj ET Q q 0 0 0 rg BT 215.40 86.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 262.39 86.10 Td (future ) Tj ET Q q 0 0 0 rg BT 289.38 86.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 303.06 86.10 Td (and ) Tj ET Q q 0 0 0 rg BT 320.62 86.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 351.50 86.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 367.95 86.10 Td (production ) Tj ET Q q 0 0 0 rg BT 414.39 86.10 Td (and ) Tj ET Q q 0 0 0 rg BT 431.95 86.10 Td (to ) Tj ET Q q 0 0 0 rg BT 442.85 86.10 Td (provide ) Tj ET Q q 0 0 0 rg BT 476.52 86.10 Td (more ) Tj ET Q q 0 0 0 rg BT 500.18 86.10 Td (certainty ) Tj ET Q q 0 0 0 rg BT 538.28 86.10 Td (to ) Tj ET Q q 0 0 0 rg BT 549.18 86.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 74.10 Td (future ) Tj ET Q q 0 0 0 rg BT 75.78 74.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 95.95 74.10 Td (flows.��) Tj ET Q q 0 0 0 rg BT 125.49 74.10 Td (W) Tj ET Q q 0 0 0 rg BT 134.12 74.10 Td (e ) Tj ET Q q 0 0 0 rg BT 140.96 74.10 Td (do ) Tj ET Q q 0 0 0 rg BT 153.36 74.10 Td (not ) Tj ET Q q 0 0 0 rg BT 168.54 74.10 Td (hold ) Tj ET Q q 0 0 0 rg BT 188.72 74.10 Td (or ) Tj ET Q q 0 0 0 rg BT 199.45 74.10 Td (issue ) Tj ET Q q 0 0 0 rg BT 221.85 74.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 264.23 74.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 301.61 74.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 350.67 74.10 Td (for ) Tj ET Q q 0 0 0 rg BT 364.73 74.10 Td (trading ) Tj ET Q q 0 0 0 rg BT 395.46 74.10 Td (purposes.��Generally) Tj ET Q q 0 0 0 rg BT 477.29 74.10 Td (, ) Tj ET Q q 0 0 0 rg BT 482.19 74.10 Td (these ) Tj ET Q q 0 0 0 rg BT 505.13 74.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 543.63 74.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 62.10 Td (consisted ) Tj ET Q q 0 0 0 rg BT 89.19 62.10 Td (of ) Tj ET Q q 0 0 0 rg BT 99.99 62.10 Td (various ) Tj ET Q q 0 0 0 rg BT 131.90 62.10 Td (combinations ) Tj ET Q q 0 0 0 rg BT 188.25 62.10 Td (of ) Tj ET Q q 0 0 0 rg BT 199.05 62.10 Td (price ) Tj ET Q q 0 0 0 rg BT 221.51 62.10 Td (floors, ) Tj ET Q q 0 0 0 rg BT 249.81 62.10 Td (collars, ) Tj ET Q q 0 0 0 rg BT 281.43 62.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 323.88 62.10 Td (collars, ) Tj ET Q q 0 0 0 rg BT 355.51 62.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 401.84 62.10 Td (swaps, ) Tj ET Q q 0 0 0 rg BT 431.25 62.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 477.59 62.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 504.50 62.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 544.72 62.10 Td (with ) Tj ET Q endstream endobj 183 0 obj <> endobj 184 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (91) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 713.10 Td (a ) Tj ET Q q 0 0 0 rg BT 56.20 713.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 75.13 713.10 Td (put, ) Tj ET Q q 0 0 0 rg BT 92.67 713.10 Td (and ) Tj ET Q q 0 0 0 rg BT 109.37 713.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 131.63 713.10 Td (swaps.��) Tj ET Q q 0 0 0 rg BT 163.39 713.10 Td (The ) Tj ET Q q 0 0 0 rg BT 181.20 713.10 Td (production ) Tj ET Q q 0 0 0 rg BT 226.79 713.10 Td (that ) Tj ET Q q 0 0 0 rg BT 244.04 713.10 Td (we ) Tj ET Q q 0 0 0 rg BT 257.96 713.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 284.10 713.10 Td (has ) Tj ET Q q 0 0 0 rg BT 299.69 713.10 Td (varied ) Tj ET Q q 0 0 0 rg BT 326.94 713.10 Td (from ) Tj ET Q q 0 0 0 rg BT 348.64 713.10 Td (year ) Tj ET Q q 0 0 0 rg BT 368.10 713.10 Td (to ) Tj ET Q q 0 0 0 rg BT 378.14 713.10 Td (year ) Tj ET Q q 0 0 0 rg BT 397.61 713.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 441.53 713.10 Td (on ) Tj ET Q q 0 0 0 rg BT 453.79 713.10 Td (our ) Tj ET Q q 0 0 0 rg BT 469.38 713.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 494.96 713.10 Td (of ) Tj ET Q q 0 0 0 rg BT 505.55 713.10 Td (debt, ) Tj ET Q q 0 0 0 rg BT 527.53 713.10 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (strength ) Tj ET Q q 0 0 0 rg BT 84.22 701.10 Td (and ) Tj ET Q q 0 0 0 rg BT 101.16 701.10 Td (expectation ) Tj ET Q q 0 0 0 rg BT 149.74 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 160.57 701.10 Td (future ) Tj ET Q q 0 0 0 rg BT 186.95 701.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 235.00 701.10 Td (prices.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 677.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 677.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.79 677.10 Td (manage ) Tj ET Q q 0 0 0 rg BT 116.10 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.76 677.10 Td (control ) Tj ET Q q 0 0 0 rg BT 163.30 677.10 Td (market ) Tj ET Q q 0 0 0 rg BT 193.28 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 209.93 677.10 Td (counterparty ) Tj ET Q q 0 0 0 rg BT 262.68 677.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 287.66 677.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 304.87 677.10 Td (through ) Tj ET Q q 0 0 0 rg BT 338.20 677.10 Td (established ) Tj ET Q q 0 0 0 rg BT 384.85 677.10 Td (internal ) Tj ET Q q 0 0 0 rg BT 417.61 677.10 Td (control ) Tj ET Q q 0 0 0 rg BT 448.15 677.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 494.23 677.10 Td (that ) Tj ET Q q 0 0 0 rg BT 511.44 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 525.86 677.10 Td (reviewed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.45 665.10 Td (an ) Tj ET Q q 0 0 0 rg BT 74.83 665.10 Td (ongoing ) Tj ET Q q 0 0 0 rg BT 110.56 665.10 Td (basis. ) Tj ET Q q 0 0 0 rg BT 136.00 665.10 Td ( ) Tj ET Q q 0 0 0 rg BT 138.74 665.10 Td (W) Tj ET Q q 0 0 0 rg BT 147.38 665.10 Td (e ) Tj ET Q q 0 0 0 rg BT 154.76 665.10 Td (attempt ) Tj ET Q q 0 0 0 rg BT 187.70 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 198.42 665.10 Td (minimize ) Tj ET Q q 0 0 0 rg BT 239.14 665.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 264.85 665.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 282.80 665.10 Td (exposure ) Tj ET Q q 0 0 0 rg BT 321.84 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 332.57 665.10 Td (counterparties ) Tj ET Q q 0 0 0 rg BT 392.15 665.10 Td (through ) Tj ET Q q 0 0 0 rg BT 426.21 665.10 Td (formal ) Tj ET Q q 0 0 0 rg BT 455.81 665.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 481.52 665.10 Td (policies, ) Tj ET Q q 0 0 0 rg BT 518.07 665.10 Td (monitoring ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (procedures ) Tj ET Q q 0 0 0 rg BT 96.52 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 114.12 653.10 Td (diversification, ) Tj ET Q q 0 0 0 rg BT 177.53 653.10 Td (and ) Tj ET Q q 0 0 0 rg BT 195.13 653.10 Td (all ) Tj ET Q q 0 0 0 rg BT 208.28 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 219.76 653.10 Td (our ) Tj ET Q q 0 0 0 rg BT 236.25 653.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 284.96 653.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 328.09 653.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 367.34 653.10 Td (are ) Tj ET Q q 0 0 0 rg BT 382.70 653.10 Td (with ) Tj ET Q q 0 0 0 rg BT 403.64 653.10 Td (parties ) Tj ET Q q 0 0 0 rg BT 433.45 653.10 Td (that ) Tj ET Q q 0 0 0 rg BT 451.60 653.10 Td (are ) Tj ET Q q 0 0 0 rg BT 466.96 653.10 Td (lenders ) Tj ET Q q 0 0 0 rg BT 499.00 653.10 Td (under ) Tj ET Q q 0 0 0 rg BT 524.92 653.10 Td (our ) Tj ET Q q 0 0 0 rg BT 541.41 653.10 Td (Bank ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (Credit ) Tj ET Q q 0 0 0 rg BT 75.99 641.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 122.33 641.10 Td (\(or ) Tj ET Q q 0 0 0 rg BT 135.91 641.10 Td (af) Tj ET Q q 0 0 0 rg BT 143.50 641.10 Td (filiates ) Tj ET Q q 0 0 0 rg BT 172.63 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 182.88 641.10 Td (such ) Tj ET Q q 0 0 0 rg BT 203.12 641.10 Td (lenders\). ) Tj ET Q q 0 0 0 rg BT 239.75 641.10 Td ( ) Tj ET Q q 0 0 0 rg BT 241.24 641.10 Td (As ) Tj ET Q q 0 0 0 rg BT 254.27 641.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.52 641.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 322.52 641.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.52 641.10 Td (, ) Tj ET Q q 0 0 0 rg BT 346.94 641.10 Td (all ) Tj ET Q q 0 0 0 rg BT 358.86 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 369.10 641.10 Td (our ) Tj ET Q q 0 0 0 rg BT 384.35 641.10 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 432.93 641.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 474.83 641.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 512.84 641.10 Td (were ) Tj ET Q q 0 0 0 rg BT 534.19 641.10 Td (subject ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.92 629.10 Td (enforceable ) Tj ET Q q 0 0 0 rg BT 109.20 629.10 Td (master ) Tj ET Q q 0 0 0 rg BT 138.50 629.10 Td (netting ) Tj ET Q q 0 0 0 rg BT 168.91 629.10 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 225.42 629.10 Td (whereby ) Tj ET Q q 0 0 0 rg BT 262.49 629.10 Td (payables ) Tj ET Q q 0 0 0 rg BT 300.12 629.10 Td (on ) Tj ET Q q 0 0 0 rg BT 312.77 629.10 Td (those ) Tj ET Q q 0 0 0 rg BT 336.52 629.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 375.26 629.10 Td (can ) Tj ET Q q 0 0 0 rg BT 391.78 629.10 Td (be ) Tj ET Q q 0 0 0 rg BT 403.86 629.10 Td (of) Tj ET Q q 0 0 0 rg BT 412.01 629.10 Td (fset ) Tj ET Q q 0 0 0 rg BT 429.09 629.10 Td (against ) Tj ET Q q 0 0 0 rg BT 460.06 629.10 Td (receivables ) Tj ET Q q 0 0 0 rg BT 507.68 629.10 Td (from ) Tj ET Q q 0 0 0 rg BT 529.76 629.10 Td (separate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 91.79 617.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 130.19 617.10 Td (with ) Tj ET Q q 0 0 0 rg BT 150.27 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 164.79 617.10 Td (same ) Tj ET Q q 0 0 0 rg BT 187.65 617.10 Td (counterparty) Tj ET Q q 0 0 0 rg BT 237.53 617.10 Td (. ) Tj ET Q q 0 0 0 rg BT 242.34 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 244.64 617.10 Td (It ) Tj ET Q q 0 0 0 rg BT 253.06 617.10 Td (is ) Tj ET Q q 0 0 0 rg BT 262.03 617.10 Td (our ) Tj ET Q q 0 0 0 rg BT 277.67 617.10 Td (policy ) Tj ET Q q 0 0 0 rg BT 304.97 617.10 Td (to ) Tj ET Q q 0 0 0 rg BT 315.05 617.10 Td (classify ) Tj ET Q q 0 0 0 rg BT 347.91 617.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 390.19 617.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 415.83 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 432.58 617.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 472.10 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 484.40 617.10 Td (a ) Tj ET Q q 0 0 0 rg BT 491.15 617.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 514.57 617.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 536.87 617.10 Td (on ) Tj ET Q q 0 0 0 rg BT 549.18 617.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 605.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 82.53 605.10 Td (sheets, ) Tj ET Q q 0 0 0 rg BT 111.97 605.10 Td (even ) Tj ET Q q 0 0 0 rg BT 133.35 605.10 Td (if ) Tj ET Q q 0 0 0 rg BT 141.96 605.10 Td (the ) Tj ET Q q 0 0 0 rg BT 156.67 605.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 195.27 605.10 Td (are ) Tj ET Q q 0 0 0 rg BT 209.97 605.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 240.80 605.10 Td (to ) Tj ET Q q 0 0 0 rg BT 251.08 605.10 Td (enforceable ) Tj ET Q q 0 0 0 rg BT 300.21 605.10 Td (master ) Tj ET Q q 0 0 0 rg BT 329.36 605.10 Td (netting ) Tj ET Q q 0 0 0 rg BT 359.64 605.10 Td (arrangements.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 581.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.61 581.10 Td (following ) Tj ET Q q 0 0 0 rg BT 127.06 581.10 Td (table ) Tj ET Q q 0 0 0 rg BT 149.05 581.10 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 199.38 581.10 Td (our ) Tj ET Q q 0 0 0 rg BT 215.27 581.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 263.39 581.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 305.93 581.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 344.59 581.10 Td (as ) Tj ET Q q 0 0 0 rg BT 355.48 581.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 366.37 581.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 425.02 581.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.02 581.10 Td (, ) Tj ET Q q 0 0 0 rg BT 450.08 581.10 Td (none ) Tj ET Q q 0 0 0 rg BT 472.08 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 482.97 581.10 Td (which ) Tj ET Q q 0 0 0 rg BT 509.98 581.10 Td (are ) Tj ET Q q 0 0 0 rg BT 524.75 581.10 Td (classified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (as ) Tj ET Q q 0 0 0 rg BT 60.33 569.10 Td (hedging ) Tj ET Q q 0 0 0 rg BT 95.05 569.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 144.21 569.10 Td (in ) Tj ET Q q 0 0 0 rg BT 154.49 569.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 201.95 569.10 Td (with ) Tj ET Q q 0 0 0 rg BT 222.23 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.95 569.10 Td (F) Tj ET Q q 0 0 0 rg BT 241.77 569.10 Td (ASC ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 263.72 569.10 Td (Derivatives ) Tj ET Q q 0 0 0 rg BT 312.31 569.10 Td (and ) Tj ET Q q 0 0 0 rg BT 329.81 569.10 Td (Hedging) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.25 569.10 Td ( ) Tj ET Q q 0 0 0 rg BT 366.75 569.10 Td (topic:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 513.60 131.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.00 513.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.00 513.60 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 241.00 513.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 245.00 513.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 256.00 513.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 296.00 513.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 513.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 347.00 513.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 351.00 513.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 401.00 513.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 513.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 455.00 513.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 513.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 509.00 513.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 513.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 483.60 69.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 119.00 483.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 123.00 483.60 58.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.00 483.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.00 483.60 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 241.00 483.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 245.00 483.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 256.00 483.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 296.00 483.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 483.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 347.00 483.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 351.00 483.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 401.00 483.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 483.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 455.00 483.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 483.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 509.00 483.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 483.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 453.60 131.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.00 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.00 453.60 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 241.00 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 245.00 453.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 256.00 453.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 296.00 453.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 453.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 347.00 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 351.00 453.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 401.00 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 453.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 455.00 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 453.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 509.00 453.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 453.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 423.60 69.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 119.00 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 123.00 423.60 58.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.00 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.00 423.60 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 241.00 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 245.00 423.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 256.00 423.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 296.00 423.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 423.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 347.00 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 351.00 423.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 401.00 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 423.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 455.00 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 423.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 509.00 423.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 423.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 393.60 131.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.00 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.00 393.60 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 241.00 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 245.00 393.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 256.00 393.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 296.00 393.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 393.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 347.00 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 351.00 393.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 401.00 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 393.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 455.00 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 393.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 509.00 393.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 393.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 363.60 69.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 119.00 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 123.00 363.60 58.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 181.00 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 185.00 363.60 56.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 241.00 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 245.00 363.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 256.00 363.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 296.00 363.60 11.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 307.00 363.60 40.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 347.00 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 351.00 363.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 401.00 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 405.00 363.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 455.00 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 459.00 363.60 50.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 509.00 363.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 513.00 363.60 50.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 543.6 m 256 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 543.6 m 296 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 543.6 m 307 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 543.6 m 347 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 543.6 m 351 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 543.6 m 401 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 543.6 m 405 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 543.6 m 455 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 543.6 m 459 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 543.6 m 509 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 543.6 m 513 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 543.6 m 563 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 347 543.6 m 351 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 543.6 m 401 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 528.6 m 401 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 543.6 m 405 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 401 528.6 m 405 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 543.6 m 455 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 528.6 m 455 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 543.6 m 459 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 455 528.6 m 459 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 543.6 m 509 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 528.6 m 509 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 543.6 m 513 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 509 528.6 m 513 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 543.6 m 563 543.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 528.6 m 563 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 513.6 m 119 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123 513.6 m 181 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 185 513.6 m 241 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 245 513.6 m 256 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 256 513.6 m 296 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 296 513.6 m 307 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 307 513.6 m 347 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 528.6 m 401 528.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 351 513.6 m 401 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 405 513.6 m 455 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 459 513.6 m 509 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 513 513.6 m 563 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 513.6 m 119 513.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 123 513.6 m 181 513.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 68.70 518.27 Td (Months) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.55 518.27 Td (Index Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 197.00 538.27 Td (V) Tj ET Q q 0 0 0 rg BT 203.58 538.27 Td (olume) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.75 528.27 Td (\(Barrels per) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 203.60 518.27 Td (day\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.10 548.27 Td (Contract Prices \($/Bbl\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 278.90 518.27 Td (Range) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 304.45 522.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 349.50 518.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.40 533.27 Td (W) Tj ET Q q 0 0 0 rg BT 417.44 533.27 Td (eighted ) Tj ET Q q 0 0 0 rg BT 448.70 533.27 Td (A) Tj ET Q q 0 0 0 rg BT 455.27 533.27 Td (verage Price) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 364.35 518.27 Td (Swap) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 412.40 518.27 Td (Sold Put) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 518.27 Td (Floor) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.75 518.27 Td (Ceiling) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 503.28 Td (Oil Contracts:) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 486.9736328125 m 150.810546875 486.9736328125 l s q 0 0 0 rg BT 52.50 488.31 Td (2019 Fixed-Price Swaps) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.15 473.27 Td (Jan � June) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.15 473.27 Td (NYMEX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.25 473.27 Td (3,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.50 473.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 473.27 Td (59.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 473.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.60 473.27 Td (59.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 473.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 473.27 Td (59.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.50 473.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 473.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 473.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 473.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 473.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 473.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.25 458.27 Td (Jan � Dec) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.20 458.27 Td (Ar) Tj ET Q q 0 0 0 rg BT 139.66 458.27 Td (gus LLS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.25 458.27 Td (7,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 458.27 Td (60.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 458.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.60 458.27 Td (74.90) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 374.65 458.27 Td (66.57) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.15 458.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 495.15 458.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 458.27 Td (�) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 441.9736328125 m 150.6494140625 441.9736328125 l s q 0 0 0 rg BT 52.50 443.31 Td (2019 Thr) Tj ET Q q 0 0 0 rg BT 89.08 443.31 Td (ee-W) Tj ET Q q 0 0 0 rg BT 108.70 443.31 Td (ay Collars) Tj ET Q BT /F4 10.00 Tf ET BT /F4 6.50 Tf ET q 0 0 0 rg BT 150.65 447.84 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.15 428.27 Td (Jan � June) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.15 428.27 Td (NYMEX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.75 428.27 Td (18,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.50 428.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 428.27 Td (55.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 428.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.60 428.27 Td (75.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 428.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 428.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.50 428.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.65 428.27 Td (48.84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 428.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 428.27 Td (56.84) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 428.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 428.27 Td (69.94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.60 413.27 Td (July � Dec) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.15 413.27 Td (NYMEX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 198.75 413.27 Td (22,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 413.27 Td (55.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 413.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.60 413.27 Td (75.45) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 413.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.65 413.27 Td (48.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 413.27 Td (56.55) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 413.27 Td (69.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.25 398.27 Td (Jan � Dec) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.20 398.27 Td (Ar) Tj ET Q q 0 0 0 rg BT 139.66 398.27 Td (gus LLS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.25 398.27 Td (5,500) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 398.27 Td (62.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 398.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.60 398.27 Td (86.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 398.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.65 398.27 Td (54.73) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 398.27 Td (63.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 398.27 Td (79.93) Tj ET Q BT /F4 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 52.5 381.9736328125 m 150.6494140625 381.9736328125 l s q 0 0 0 rg BT 52.50 383.31 Td (2020 Thr) Tj ET Q q 0 0 0 rg BT 89.08 383.31 Td (ee-W) Tj ET Q q 0 0 0 rg BT 108.70 383.31 Td (ay Collars) Tj ET Q BT /F4 10.00 Tf ET BT /F4 6.50 Tf ET q 0 0 0 rg BT 150.65 387.84 Td (\(2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.25 368.27 Td (Jan � Dec) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.15 368.27 Td (NYMEX) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.25 368.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 247.50 368.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 368.27 Td (60.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 368.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.60 368.27 Td (82.65) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.50 368.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 368.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.50 368.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.65 368.27 Td (50.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.50 368.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 368.27 Td (60.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 515.50 368.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 368.27 Td (82.50) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.25 353.27 Td (Jan � Dec) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.20 353.27 Td (Ar) Tj ET Q q 0 0 0 rg BT 139.57 353.27 Td (gus LLS) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.25 353.27 Td (1,000) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.60 353.27 Td (65.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 353.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.60 353.27 Td (87.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.15 353.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 428.65 353.27 Td (55.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 482.65 353.27 Td (65.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 353.27 Td (86.80) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 325.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 325.10 Td (Ranges ) Tj ET Q q 0 0 0 rg BT 100.34 325.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 142.06 325.10 Td (for ) Tj ET Q q 0 0 0 rg BT 157.13 325.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 204.40 325.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 232.24 325.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 272.29 325.10 Td (the ) Tj ET Q q 0 0 0 rg BT 287.92 325.10 Td (lowest ) Tj ET Q q 0 0 0 rg BT 317.43 325.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.27 325.10 Td (highest ) Tj ET Q q 0 0 0 rg BT 367.56 325.10 Td (fixed ) Tj ET Q q 0 0 0 rg BT 391.52 325.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 418.80 325.10 Td (of ) Tj ET Q q 0 0 0 rg BT 430.53 325.10 Td (all ) Tj ET Q q 0 0 0 rg BT 443.93 325.10 Td (open ) Tj ET Q q 0 0 0 rg BT 466.77 325.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 506.27 325.10 Td (for ) Tj ET Q q 0 0 0 rg BT 521.34 325.10 Td (the ) Tj ET Q q 0 0 0 rg BT 536.96 325.10 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 313.10 Td (presented. ) Tj ET Q q 0 0 0 rg BT 111.02 313.10 Td ( ) Tj ET Q q 0 0 0 rg BT 113.72 313.10 Td (For ) Tj ET Q q 0 0 0 rg BT 130.31 313.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 172.98 313.10 Td (collars, ) Tj ET Q q 0 0 0 rg BT 204.84 313.10 Td (ranges ) Tj ET Q q 0 0 0 rg BT 233.64 313.10 Td (represent ) Tj ET Q q 0 0 0 rg BT 272.98 313.10 Td (the ) Tj ET Q q 0 0 0 rg BT 287.90 313.10 Td (lowest ) Tj ET Q q 0 0 0 rg BT 316.71 313.10 Td (floor ) Tj ET Q q 0 0 0 rg BT 338.85 313.10 Td (price ) Tj ET Q q 0 0 0 rg BT 361.53 313.10 Td (and ) Tj ET Q q 0 0 0 rg BT 378.67 313.10 Td (highest ) Tj ET Q q 0 0 0 rg BT 410.26 313.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 440.17 313.10 Td (price ) Tj ET Q q 0 0 0 rg BT 462.86 313.10 Td (for ) Tj ET Q q 0 0 0 rg BT 477.22 313.10 Td (all ) Tj ET Q q 0 0 0 rg BT 489.91 313.10 Td (open ) Tj ET Q q 0 0 0 rg BT 512.05 313.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 550.84 313.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 301.10 Td (the ) Tj ET Q q 0 0 0 rg BT 82.22 301.10 Td (period ) Tj ET Q q 0 0 0 rg BT 110.26 301.10 Td (presented.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 289.10 Td (\(2\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 289.10 Td (A) Tj ET Q q 0 0 0 rg BT 74.17 289.10 Td ( ) Tj ET Q q 0 0 0 rg BT 76.34 289.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 118.49 289.10 Td (collar ) Tj ET Q q 0 0 0 rg BT 143.42 289.10 Td (is ) Tj ET Q q 0 0 0 rg BT 152.26 289.10 Td (a ) Tj ET Q q 0 0 0 rg BT 158.87 289.10 Td (costless ) Tj ET Q q 0 0 0 rg BT 192.15 289.10 Td (collar ) Tj ET Q q 0 0 0 rg BT 217.08 289.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 251.46 289.10 Td (combined ) Tj ET Q q 0 0 0 rg BT 293.06 289.10 Td (with ) Tj ET Q q 0 0 0 rg BT 313.01 289.10 Td (a ) Tj ET Q q 0 0 0 rg BT 319.62 289.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 338.46 289.10 Td (put ) Tj ET Q q 0 0 0 rg BT 353.41 289.10 Td (feature ) Tj ET Q q 0 0 0 rg BT 383.33 289.10 Td (\(at ) Tj ET Q q 0 0 0 rg BT 396.05 289.10 Td (a ) Tj ET Q q 0 0 0 rg BT 402.66 289.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 427.60 289.10 Td (price\) ) Tj ET Q q 0 0 0 rg BT 453.08 289.10 Td (with ) Tj ET Q q 0 0 0 rg BT 473.03 289.10 Td (the ) Tj ET Q q 0 0 0 rg BT 487.42 289.10 Td (same ) Tj ET Q q 0 0 0 rg BT 510.13 289.10 Td (counterparty) Tj ET Q q 0 0 0 rg BT 560.02 289.10 Td (. ) Tj ET Q q 0 0 0 rg BT 565.02 289.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 277.10 Td (The ) Tj ET Q q 0 0 0 rg BT 84.87 277.10 Td (value ) Tj ET Q q 0 0 0 rg BT 108.34 277.10 Td (received ) Tj ET Q q 0 0 0 rg BT 144.03 277.10 Td (for ) Tj ET Q q 0 0 0 rg BT 157.51 277.10 Td (the ) Tj ET Q q 0 0 0 rg BT 171.54 277.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 190.03 277.10 Td (put ) Tj ET Q q 0 0 0 rg BT 204.63 277.10 Td (is ) Tj ET Q q 0 0 0 rg BT 213.12 277.10 Td (used ) Tj ET Q q 0 0 0 rg BT 233.27 277.10 Td (to ) Tj ET Q q 0 0 0 rg BT 242.87 277.10 Td (enhance ) Tj ET Q q 0 0 0 rg BT 277.45 277.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.48 277.10 Td (contracted ) Tj ET Q q 0 0 0 rg BT 334.94 277.10 Td (floor ) Tj ET Q q 0 0 0 rg BT 356.20 277.10 Td (and ) Tj ET Q q 0 0 0 rg BT 372.46 277.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 401.49 277.10 Td (price ) Tj ET Q q 0 0 0 rg BT 423.30 277.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.45 277.10 Td (the ) Tj ET Q q 0 0 0 rg BT 447.49 277.10 Td (related ) Tj ET Q q 0 0 0 rg BT 476.51 277.10 Td (collar) Tj ET Q q 0 0 0 rg BT 498.72 277.10 Td (. ) Tj ET Q q 0 0 0 rg BT 503.04 277.10 Td ( ) Tj ET Q q 0 0 0 rg BT 504.46 277.10 Td (At ) Tj ET Q q 0 0 0 rg BT 516.28 277.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.32 277.10 Td (contract ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 265.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 110.60 265.10 Td (date, ) Tj ET Q q 0 0 0 rg BT 131.76 265.10 Td (\(1\) ) Tj ET Q q 0 0 0 rg BT 145.42 265.10 Td (if ) Tj ET Q q 0 0 0 rg BT 153.54 265.10 Td (the ) Tj ET Q q 0 0 0 rg BT 167.76 265.10 Td (index ) Tj ET Q q 0 0 0 rg BT 191.98 265.10 Td (price ) Tj ET Q q 0 0 0 rg BT 213.97 265.10 Td (is ) Tj ET Q q 0 0 0 rg BT 222.64 265.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 250.19 265.10 Td (than ) Tj ET Q q 0 0 0 rg BT 269.41 265.10 Td (the ) Tj ET Q q 0 0 0 rg BT 283.63 265.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 312.84 265.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 337.33 265.10 Td (we ) Tj ET Q q 0 0 0 rg BT 351.00 265.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 367.44 265.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.66 265.10 Td (counterparty ) Tj ET Q q 0 0 0 rg BT 434.19 265.10 Td (the ) Tj ET Q q 0 0 0 rg BT 448.42 265.10 Td (dif) Tj ET Q q 0 0 0 rg BT 459.34 265.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 490.76 265.10 Td (between ) Tj ET Q q 0 0 0 rg BT 526.08 265.10 Td (the ) Tj ET Q q 0 0 0 rg BT 540.30 265.10 Td (index ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 253.10 Td (price ) Tj ET Q q 0 0 0 rg BT 89.80 253.10 Td (and ) Tj ET Q q 0 0 0 rg BT 106.55 253.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 136.07 253.10 Td (price ) Tj ET Q q 0 0 0 rg BT 158.37 253.10 Td (for ) Tj ET Q q 0 0 0 rg BT 172.34 253.10 Td (the ) Tj ET Q q 0 0 0 rg BT 186.86 253.10 Td (contracted ) Tj ET Q q 0 0 0 rg BT 230.82 253.10 Td (volumes, ) Tj ET Q q 0 0 0 rg BT 269.51 253.10 Td (\(2\) ) Tj ET Q q 0 0 0 rg BT 283.48 253.10 Td (if ) Tj ET Q q 0 0 0 rg BT 291.90 253.10 Td (the ) Tj ET Q q 0 0 0 rg BT 306.43 253.10 Td (index ) Tj ET Q q 0 0 0 rg BT 330.96 253.10 Td (price ) Tj ET Q q 0 0 0 rg BT 353.26 253.10 Td (is ) Tj ET Q q 0 0 0 rg BT 362.24 253.10 Td (between ) Tj ET Q q 0 0 0 rg BT 397.86 253.10 Td (the ) Tj ET Q q 0 0 0 rg BT 412.39 253.10 Td (floor ) Tj ET Q q 0 0 0 rg BT 434.14 253.10 Td (and ) Tj ET Q q 0 0 0 rg BT 450.89 253.10 Td (ceiling ) Tj ET Q q 0 0 0 rg BT 480.41 253.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 505.21 253.10 Td (no ) Tj ET Q q 0 0 0 rg BT 517.52 253.10 Td (settlements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 241.10 Td (occur) Tj ET Q q 0 0 0 rg BT 89.31 241.10 Td (, ) Tj ET Q q 0 0 0 rg BT 93.46 241.10 Td (\(3\) ) Tj ET Q q 0 0 0 rg BT 106.77 241.10 Td (if ) Tj ET Q q 0 0 0 rg BT 114.53 241.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.40 241.10 Td (index ) Tj ET Q q 0 0 0 rg BT 152.27 241.10 Td (price ) Tj ET Q q 0 0 0 rg BT 173.91 241.10 Td (is ) Tj ET Q q 0 0 0 rg BT 182.23 241.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 206.66 241.10 Td (than ) Tj ET Q q 0 0 0 rg BT 225.52 241.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.39 241.10 Td (floor ) Tj ET Q q 0 0 0 rg BT 260.49 241.10 Td (price ) Tj ET Q q 0 0 0 rg BT 282.12 241.10 Td (but ) Tj ET Q q 0 0 0 rg BT 296.56 241.10 Td (at ) Tj ET Q q 0 0 0 rg BT 305.42 241.10 Td (or ) Tj ET Q q 0 0 0 rg BT 315.41 241.10 Td (above ) Tj ET Q q 0 0 0 rg BT 340.94 241.10 Td (the ) Tj ET Q q 0 0 0 rg BT 354.81 241.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 373.13 241.10 Td (put ) Tj ET Q q 0 0 0 rg BT 387.56 241.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 411.70 241.10 Td (the ) Tj ET Q q 0 0 0 rg BT 425.57 241.10 Td (counterparty ) Tj ET Q q 0 0 0 rg BT 477.75 241.10 Td (pays ) Tj ET Q q 0 0 0 rg BT 497.74 241.10 Td (us ) Tj ET Q q 0 0 0 rg BT 508.28 241.10 Td (the ) Tj ET Q q 0 0 0 rg BT 522.15 241.10 Td (dif) Tj ET Q q 0 0 0 rg BT 533.08 241.10 Td (ference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 229.10 Td (between ) Tj ET Q q 0 0 0 rg BT 103.72 229.10 Td (the ) Tj ET Q q 0 0 0 rg BT 118.85 229.10 Td (index ) Tj ET Q q 0 0 0 rg BT 143.97 229.10 Td (price ) Tj ET Q q 0 0 0 rg BT 166.86 229.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.21 229.10 Td (the ) Tj ET Q q 0 0 0 rg BT 199.33 229.10 Td (floor ) Tj ET Q q 0 0 0 rg BT 221.68 229.10 Td (price ) Tj ET Q q 0 0 0 rg BT 244.57 229.10 Td (for ) Tj ET Q q 0 0 0 rg BT 259.13 229.10 Td (the ) Tj ET Q q 0 0 0 rg BT 274.26 229.10 Td (contracted ) Tj ET Q q 0 0 0 rg BT 318.81 229.10 Td (volumes ) Tj ET Q q 0 0 0 rg BT 355.60 229.10 Td (and ) Tj ET Q q 0 0 0 rg BT 372.94 229.10 Td (\(4\) ) Tj ET Q q 0 0 0 rg BT 387.51 229.10 Td (if ) Tj ET Q q 0 0 0 rg BT 396.53 229.10 Td (the ) Tj ET Q q 0 0 0 rg BT 411.65 229.10 Td (index ) Tj ET Q q 0 0 0 rg BT 436.77 229.10 Td (price ) Tj ET Q q 0 0 0 rg BT 459.67 229.10 Td (is ) Tj ET Q q 0 0 0 rg BT 469.24 229.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 494.92 229.10 Td (than ) Tj ET Q q 0 0 0 rg BT 515.04 229.10 Td (the ) Tj ET Q q 0 0 0 rg BT 530.16 229.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 549.74 229.10 Td (put ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 217.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 92.49 217.10 Td (the ) Tj ET Q q 0 0 0 rg BT 107.20 217.10 Td (counterparty ) Tj ET Q q 0 0 0 rg BT 160.23 217.10 Td (pays ) Tj ET Q q 0 0 0 rg BT 181.06 217.10 Td (us ) Tj ET Q q 0 0 0 rg BT 192.46 217.10 Td (the ) Tj ET Q q 0 0 0 rg BT 207.17 217.10 Td (dif) Tj ET Q q 0 0 0 rg BT 218.10 217.10 Td (ference ) Tj ET Q q 0 0 0 rg BT 250.01 217.10 Td (between ) Tj ET Q q 0 0 0 rg BT 285.83 217.10 Td (the ) Tj ET Q q 0 0 0 rg BT 300.55 217.10 Td (floor ) Tj ET Q q 0 0 0 rg BT 322.49 217.10 Td (price ) Tj ET Q q 0 0 0 rg BT 344.97 217.10 Td (and ) Tj ET Q q 0 0 0 rg BT 361.91 217.10 Td (the ) Tj ET Q q 0 0 0 rg BT 376.63 217.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 395.80 217.10 Td (put ) Tj ET Q q 0 0 0 rg BT 411.07 217.10 Td (price ) Tj ET Q q 0 0 0 rg BT 433.56 217.10 Td (for ) Tj ET Q q 0 0 0 rg BT 447.72 217.10 Td (the ) Tj ET Q q 0 0 0 rg BT 462.44 217.10 Td (contracted ) Tj ET Q q 0 0 0 rg BT 506.58 217.10 Td (volumes.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 193.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 71.99 193.10 Td (1) Tj ET Q q 0 0 0 rg BT 76.44 193.10 Td (1. ) Tj ET Q q 0 0 0 rg BT 86.44 193.10 Td (Fair) Tj ET Q q 0 0 0 rg BT 104.58 193.10 Td ( ) Tj ET Q q 0 0 0 rg BT 106.90 193.10 Td (V) Tj ET Q q 0 0 0 rg BT 113.21 193.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 133.48 193.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 166.07 193.10 Td (ements) Tj ET Q BT /F2 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 169.10 Td (The ) Tj ET Q q 0 0 0 rg BT 86.19 169.10 Td (F) Tj ET Q q 0 0 0 rg BT 91.00 169.10 Td (ASC ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 113.60 169.10 Td (Fair ) Tj ET Q q 0 0 0 rg BT 134.51 169.10 Td (V) Tj ET Q q 0 0 0 rg BT 139.51 169.10 Td (alue ) Tj ET Q q 0 0 0 rg BT 159.87 169.10 Td (Measur) Tj ET Q q 0 0 0 rg BT 190.05 169.10 Td (ement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 213.93 169.10 Td ( ) Tj ET Q q 0 0 0 rg BT 217.07 169.10 Td (topic ) Tj ET Q q 0 0 0 rg BT 240.20 169.10 Td (defines ) Tj ET Q q 0 0 0 rg BT 272.21 169.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 289.23 169.10 Td (value ) Tj ET Q q 0 0 0 rg BT 314.02 169.10 Td (as ) Tj ET Q q 0 0 0 rg BT 325.49 169.10 Td (the ) Tj ET Q q 0 0 0 rg BT 340.85 169.10 Td (price ) Tj ET Q q 0 0 0 rg BT 363.97 169.10 Td (that ) Tj ET Q q 0 0 0 rg BT 382.11 169.10 Td (would ) Tj ET Q q 0 0 0 rg BT 410.25 169.10 Td (be ) Tj ET Q q 0 0 0 rg BT 422.82 169.10 Td (received ) Tj ET Q q 0 0 0 rg BT 459.82 169.10 Td (to ) Tj ET Q q 0 0 0 rg BT 470.74 169.10 Td (sell ) Tj ET Q q 0 0 0 rg BT 487.77 169.10 Td (an ) Tj ET Q q 0 0 0 rg BT 500.34 169.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 522.92 169.10 Td (or ) Tj ET Q q 0 0 0 rg BT 534.39 169.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 554.74 169.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 157.10 Td (transfer ) Tj ET Q q 0 0 0 rg BT 83.01 157.10 Td (a ) Tj ET Q q 0 0 0 rg BT 90.43 157.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 124.51 157.10 Td (in ) Tj ET Q q 0 0 0 rg BT 135.27 157.10 Td (an ) Tj ET Q q 0 0 0 rg BT 147.68 157.10 Td (orderly ) Tj ET Q q 0 0 0 rg BT 179.53 157.10 Td (transaction ) Tj ET Q q 0 0 0 rg BT 226.38 157.10 Td (between ) Tj ET Q q 0 0 0 rg BT 262.67 157.10 Td (market ) Tj ET Q q 0 0 0 rg BT 293.41 157.10 Td (participants ) Tj ET Q q 0 0 0 rg BT 343.04 157.10 Td (at ) Tj ET Q q 0 0 0 rg BT 353.23 157.10 Td (the ) Tj ET Q q 0 0 0 rg BT 368.43 157.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 424.71 157.10 Td (date ) Tj ET Q q 0 0 0 rg BT 444.34 157.10 Td (\(often ) Tj ET Q q 0 0 0 rg BT 471.20 157.10 Td (referred ) Tj ET Q q 0 0 0 rg BT 505.81 157.10 Td (to ) Tj ET Q q 0 0 0 rg BT 516.56 157.10 Td (as ) Tj ET Q q 0 0 0 rg BT 527.87 157.10 Td (the ) Tj ET Q q 0 0 0 rg BT 543.06 157.10 Td (�exit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 145.10 Td (price�\).��) Tj ET Q q 0 0 0 rg BT 84.57 145.10 Td (W) Tj ET Q q 0 0 0 rg BT 93.21 145.10 Td (e ) Tj ET Q q 0 0 0 rg BT 101.36 145.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 130.06 145.10 Td (market ) Tj ET Q q 0 0 0 rg BT 161.54 145.10 Td (data ) Tj ET Q q 0 0 0 rg BT 181.91 145.10 Td (or ) Tj ET Q q 0 0 0 rg BT 193.95 145.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 247.11 145.10 Td (that ) Tj ET Q q 0 0 0 rg BT 265.82 145.10 Td (market ) Tj ET Q q 0 0 0 rg BT 297.29 145.10 Td (participants ) Tj ET Q q 0 0 0 rg BT 347.66 145.10 Td (would ) Tj ET Q q 0 0 0 rg BT 376.37 145.10 Td (use ) Tj ET Q q 0 0 0 rg BT 393.41 145.10 Td (in ) Tj ET Q q 0 0 0 rg BT 404.90 145.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 436.94 145.10 Td (the ) Tj ET Q q 0 0 0 rg BT 452.87 145.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 476.02 145.10 Td (or ) Tj ET Q q 0 0 0 rg BT 488.06 145.10 Td (liability) Tj ET Q q 0 0 0 rg BT 518.52 145.10 Td (, ) Tj ET Q q 0 0 0 rg BT 524.73 145.10 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 133.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 102.00 133.10 Td (about ) Tj ET Q q 0 0 0 rg BT 127.27 133.10 Td (risk ) Tj ET Q q 0 0 0 rg BT 145.33 133.10 Td (and ) Tj ET Q q 0 0 0 rg BT 162.82 133.10 Td (the ) Tj ET Q q 0 0 0 rg BT 178.09 133.10 Td (risks ) Tj ET Q q 0 0 0 rg BT 200.04 133.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 235.85 133.10 Td (in ) Tj ET Q q 0 0 0 rg BT 246.69 133.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.96 133.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 289.46 133.10 Td (to ) Tj ET Q q 0 0 0 rg BT 300.29 133.10 Td (the ) Tj ET Q q 0 0 0 rg BT 315.56 133.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 355.83 133.10 Td (technique.��) Tj ET Q q 0 0 0 rg BT 402.02 133.10 Td (These ) Tj ET Q q 0 0 0 rg BT 428.95 133.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 456.46 133.10 Td (can ) Tj ET Q q 0 0 0 rg BT 473.39 133.10 Td (be ) Tj ET Q q 0 0 0 rg BT 485.88 133.10 Td (readily ) Tj ET Q q 0 0 0 rg BT 516.70 133.10 Td (observable, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 121.10 Td (market ) Tj ET Q q 0 0 0 rg BT 79.85 121.10 Td (corroborated ) Tj ET Q q 0 0 0 rg BT 133.51 121.10 Td (or ) Tj ET Q q 0 0 0 rg BT 144.42 121.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 184.21 121.10 Td (unobservable.��) Tj ET Q q 0 0 0 rg BT 244.84 121.10 Td (W) Tj ET Q q 0 0 0 rg BT 253.48 121.10 Td (e ) Tj ET Q q 0 0 0 rg BT 260.50 121.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 300.29 121.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 325.09 121.10 Td (the ) Tj ET Q q 0 0 0 rg BT 339.89 121.10 Td (income ) Tj ET Q q 0 0 0 rg BT 371.91 121.10 Td (approach ) Tj ET Q q 0 0 0 rg BT 411.14 121.10 Td (for ) Tj ET Q q 0 0 0 rg BT 425.38 121.10 Td (recurring ) Tj ET Q q 0 0 0 rg BT 464.61 121.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 481.06 121.10 Td (value ) Tj ET Q q 0 0 0 rg BT 505.30 121.10 Td (measurements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 109.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.30 109.10 Td (endeavor ) Tj ET Q q 0 0 0 rg BT 107.31 109.10 Td (to ) Tj ET Q q 0 0 0 rg BT 118.45 109.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 146.81 109.10 Td (the ) Tj ET Q q 0 0 0 rg BT 162.39 109.10 Td (best ) Tj ET Q q 0 0 0 rg BT 181.86 109.10 Td (available ) Tj ET Q q 0 0 0 rg BT 221.31 109.10 Td (information.��) Tj ET Q q 0 0 0 rg BT 275.47 109.10 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 324.81 109.10 Td (, ) Tj ET Q q 0 0 0 rg BT 330.67 109.10 Td (we ) Tj ET Q q 0 0 0 rg BT 345.69 109.10 Td (utilize ) Tj ET Q q 0 0 0 rg BT 374.05 109.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 414.62 109.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 460.75 109.10 Td (that ) Tj ET Q q 0 0 0 rg BT 479.11 109.10 Td (maximize ) Tj ET Q q 0 0 0 rg BT 521.90 109.10 Td (the ) Tj ET Q q 0 0 0 rg BT 537.48 109.10 Td (use ) Tj ET Q q 0 0 0 rg BT 554.17 109.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 97.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 94.22 97.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 120.07 97.10 Td (and ) Tj ET Q q 0 0 0 rg BT 135.91 97.10 Td (minimize ) Tj ET Q q 0 0 0 rg BT 175.08 97.10 Td (the ) Tj ET Q q 0 0 0 rg BT 188.70 97.10 Td (use ) Tj ET Q q 0 0 0 rg BT 203.43 97.10 Td (of ) Tj ET Q q 0 0 0 rg BT 213.17 97.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 267.89 97.10 Td (inputs.��) Tj ET Q q 0 0 0 rg BT 299.65 97.10 Td (W) Tj ET Q q 0 0 0 rg BT 308.29 97.10 Td (e ) Tj ET Q q 0 0 0 rg BT 314.13 97.10 Td (are ) Tj ET Q q 0 0 0 rg BT 327.74 97.10 Td (able ) Tj ET Q q 0 0 0 rg BT 345.80 97.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.98 97.10 Td (classify ) Tj ET Q q 0 0 0 rg BT 386.93 97.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 402.21 97.10 Td (value ) Tj ET Q q 0 0 0 rg BT 425.27 97.10 Td (balances ) Tj ET Q q 0 0 0 rg BT 461.10 97.10 Td (based ) Tj ET Q q 0 0 0 rg BT 485.27 97.10 Td (on ) Tj ET Q q 0 0 0 rg BT 496.67 97.10 Td (the ) Tj ET Q q 0 0 0 rg BT 510.29 97.10 Td (observability ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 85.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.23 85.10 Td (those ) Tj ET Q q 0 0 0 rg BT 83.73 85.10 Td (inputs.��) Tj ET Q q 0 0 0 rg BT 115.50 85.10 Td (The ) Tj ET Q q 0 0 0 rg BT 133.45 85.10 Td (F) Tj ET Q q 0 0 0 rg BT 138.26 85.10 Td (ASC ) Tj ET Q q 0 0 0 rg BT 160.12 85.10 Td (establishes ) Tj ET Q q 0 0 0 rg BT 205.84 85.10 Td (a ) Tj ET Q q 0 0 0 rg BT 212.67 85.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 228.95 85.10 Td (value ) Tj ET Q q 0 0 0 rg BT 253.00 85.10 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 293.15 85.10 Td (that ) Tj ET Q q 0 0 0 rg BT 310.54 85.10 Td (prioritizes ) Tj ET Q q 0 0 0 rg BT 353.48 85.10 Td (the ) Tj ET Q q 0 0 0 rg BT 368.10 85.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 394.94 85.10 Td (used ) Tj ET Q q 0 0 0 rg BT 415.67 85.10 Td (to ) Tj ET Q q 0 0 0 rg BT 425.85 85.10 Td (measure ) Tj ET Q q 0 0 0 rg BT 461.56 85.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 477.83 85.10 Td (value.��) Tj ET Q q 0 0 0 rg BT 506.81 85.10 Td (The ) Tj ET Q q 0 0 0 rg BT 524.75 85.10 Td (hierarchy ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 73.10 Td (gives ) Tj ET Q q 0 0 0 rg BT 73.53 73.10 Td (the ) Tj ET Q q 0 0 0 rg BT 88.67 73.10 Td (highest ) Tj ET Q q 0 0 0 rg BT 120.48 73.10 Td (priority ) Tj ET Q q 0 0 0 rg BT 153.40 73.10 Td (to ) Tj ET Q q 0 0 0 rg BT 164.10 73.10 Td (unadjusted ) Tj ET Q q 0 0 0 rg BT 210.34 73.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 240.48 73.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 267.28 73.10 Td (in ) Tj ET Q q 0 0 0 rg BT 277.98 73.10 Td (active ) Tj ET Q q 0 0 0 rg BT 304.78 73.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 339.36 73.10 Td (for ) Tj ET Q q 0 0 0 rg BT 353.94 73.10 Td (identical ) Tj ET Q q 0 0 0 rg BT 391.29 73.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 417.54 73.10 Td (or ) Tj ET Q q 0 0 0 rg BT 428.79 73.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 468.93 73.10 Td (\(Level ) Tj ET Q q 0 0 0 rg BT 497.95 73.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 505.87 73.10 Td (measurement\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 61.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.24 61.10 Td (the ) Tj ET Q q 0 0 0 rg BT 80.75 61.10 Td (lowest ) Tj ET Q q 0 0 0 rg BT 109.16 61.10 Td (priority ) Tj ET Q q 0 0 0 rg BT 141.45 61.10 Td (to ) Tj ET Q q 0 0 0 rg BT 151.52 61.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 207.14 61.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 233.88 61.10 Td (\(Level ) Tj ET Q q 0 0 0 rg BT 262.27 61.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 269.57 61.10 Td (measurement\).��) Tj ET Q q 0 0 0 rg BT 333.53 61.10 Td (The ) Tj ET Q q 0 0 0 rg BT 351.38 61.10 Td (three ) Tj ET Q q 0 0 0 rg BT 373.66 61.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 399.28 61.10 Td (of ) Tj ET Q q 0 0 0 rg BT 409.91 61.10 Td (the ) Tj ET Q q 0 0 0 rg BT 424.42 61.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 440.60 61.10 Td (value ) Tj ET Q q 0 0 0 rg BT 464.55 61.10 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 504.60 61.10 Td (are ) Tj ET Q q 0 0 0 rg BT 519.10 61.10 Td (as ) Tj ET Q q 0 0 0 rg BT 529.73 61.10 Td (follows:) Tj ET Q endstream endobj 185 0 obj <> endobj 186 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (92) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 701.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 701.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 110.76 701.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 118.26 701.10 Td (� ) Tj ET Q q 0 0 0 rg BT 125.76 701.10 Td (Quoted ) Tj ET Q q 0 0 0 rg BT 157.70 701.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 184.08 701.10 Td (in ) Tj ET Q q 0 0 0 rg BT 194.36 701.10 Td (active ) Tj ET Q q 0 0 0 rg BT 220.73 701.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 254.88 701.10 Td (for ) Tj ET Q q 0 0 0 rg BT 269.04 701.10 Td (identical ) Tj ET Q q 0 0 0 rg BT 305.97 701.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 331.80 701.10 Td (or ) Tj ET Q q 0 0 0 rg BT 342.63 701.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 382.35 701.10 Td (as ) Tj ET Q q 0 0 0 rg BT 393.18 701.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.01 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 418.73 701.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 457.88 701.10 Td (date.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 677.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 677.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 110.92 677.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 118.58 677.10 Td (� ) Tj ET Q q 0 0 0 rg BT 126.23 677.10 Td (Pricing ) Tj ET Q q 0 0 0 rg BT 157.78 677.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 184.88 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 199.74 677.10 Td (other ) Tj ET Q q 0 0 0 rg BT 222.95 677.10 Td (than ) Tj ET Q q 0 0 0 rg BT 242.82 677.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 272.69 677.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 299.23 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 309.66 677.10 Td (active ) Tj ET Q q 0 0 0 rg BT 336.19 677.10 Td (markets ) Tj ET Q q 0 0 0 rg BT 370.50 677.10 Td (included ) Tj ET Q q 0 0 0 rg BT 407.59 677.10 Td (in ) Tj ET Q q 0 0 0 rg BT 418.02 677.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 443.44 677.10 Td (1, ) Tj ET Q q 0 0 0 rg BT 453.60 677.10 Td (which ) Tj ET Q q 0 0 0 rg BT 480.70 677.10 Td (are ) Tj ET Q q 0 0 0 rg BT 495.56 677.10 Td (either ) Tj ET Q q 0 0 0 rg BT 520.98 677.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 554.18 677.10 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 665.10 Td (indirectly ) Tj ET Q q 0 0 0 rg BT 126.37 665.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 172.23 665.10 Td (as ) Tj ET Q q 0 0 0 rg BT 183.11 665.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.99 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.75 665.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 244.62 665.10 Td (date.��Level ) Tj ET Q q 0 0 0 rg BT 294.08 665.10 Td (2 ) Tj ET Q q 0 0 0 rg BT 301.63 665.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 337.50 665.10 Td (those ) Tj ET Q q 0 0 0 rg BT 361.16 665.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 398.69 665.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 447.90 665.10 Td (that ) Tj ET Q q 0 0 0 rg BT 465.44 665.10 Td (are ) Tj ET Q q 0 0 0 rg BT 480.20 665.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 509.40 665.10 Td (using ) Tj ET Q q 0 0 0 rg BT 533.62 665.10 Td (models ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 653.10 Td (or ) Tj ET Q q 0 0 0 rg BT 95.56 653.10 Td (other ) Tj ET Q q 0 0 0 rg BT 117.83 653.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 156.77 653.10 Td (methodologies.��Instruments ) Tj ET Q q 0 0 0 rg BT 272.09 653.10 Td (in ) Tj ET Q q 0 0 0 rg BT 281.60 653.10 Td (this ) Tj ET Q q 0 0 0 rg BT 297.77 653.10 Td (category ) Tj ET Q q 0 0 0 rg BT 333.92 653.10 Td (include ) Tj ET Q q 0 0 0 rg BT 365.08 653.10 Td (non-exchange-traded ) Tj ET Q q 0 0 0 rg BT 451.21 653.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 463.49 653.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 509.09 653.10 Td (that ) Tj ET Q q 0 0 0 rg BT 525.81 653.10 Td (are ) Tj ET Q q 0 0 0 rg BT 539.74 653.10 Td (based ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 641.10 Td (on ) Tj ET Q q 0 0 0 rg BT 98.00 641.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 137.16 641.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 167.98 641.10 Td (and ) Tj ET Q q 0 0 0 rg BT 184.91 641.10 Td (fixed-price ) Tj ET Q q 0 0 0 rg BT 231.27 641.10 Td (swaps ) Tj ET Q q 0 0 0 rg BT 258.21 641.10 Td (that ) Tj ET Q q 0 0 0 rg BT 275.70 641.10 Td (are ) Tj ET Q q 0 0 0 rg BT 290.40 641.10 Td (based ) Tj ET Q q 0 0 0 rg BT 315.66 641.10 Td (on ) Tj ET Q q 0 0 0 rg BT 328.16 641.10 Td (regional ) Tj ET Q q 0 0 0 rg BT 363.42 641.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 394.24 641.10 Td (other ) Tj ET Q q 0 0 0 rg BT 417.28 641.10 Td (than ) Tj ET Q q 0 0 0 rg BT 436.99 641.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 476.15 641.10 Td (\(e.g., ) Tj ET Q q 0 0 0 rg BT 498.91 641.10 Td (Light ) Tj ET Q q 0 0 0 rg BT 523.07 641.10 Td (Louisiana ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 629.10 Td (Sweet\).��Our ) Tj ET Q q 0 0 0 rg BT 138.34 629.10 Td (costless ) Tj ET Q q 0 0 0 rg BT 171.47 629.10 Td (collars ) Tj ET Q q 0 0 0 rg BT 200.15 629.10 Td (and ) Tj ET Q q 0 0 0 rg BT 216.61 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 230.85 629.10 Td (sold ) Tj ET Q q 0 0 0 rg BT 249.54 629.10 Td (put ) Tj ET Q q 0 0 0 rg BT 264.34 629.10 Td (features ) Tj ET Q q 0 0 0 rg BT 298.00 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.36 629.10 Td (our ) Tj ET Q q 0 0 0 rg BT 323.71 629.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 365.71 629.10 Td (collars ) Tj ET Q q 0 0 0 rg BT 394.38 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 408.61 629.10 Td (valued ) Tj ET Q q 0 0 0 rg BT 437.29 629.10 Td (using ) Tj ET Q q 0 0 0 rg BT 460.98 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 475.22 629.10 Td (Black-Scholes ) Tj ET Q q 0 0 0 rg BT 535.00 629.10 Td (model, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 617.10 Td (an ) Tj ET Q q 0 0 0 rg BT 97.55 617.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 132.93 617.10 Td (standard ) Tj ET Q q 0 0 0 rg BT 169.42 617.10 Td (option ) Tj ET Q q 0 0 0 rg BT 197.59 617.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 237.41 617.10 Td (model ) Tj ET Q q 0 0 0 rg BT 265.01 617.10 Td (that ) Tj ET Q q 0 0 0 rg BT 282.61 617.10 Td (takes ) Tj ET Q q 0 0 0 rg BT 305.77 617.10 Td (into ) Tj ET Q q 0 0 0 rg BT 323.94 617.10 Td (account ) Tj ET Q q 0 0 0 rg BT 357.64 617.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 384.70 617.10 Td (such ) Tj ET Q q 0 0 0 rg BT 405.63 617.10 Td (as ) Tj ET Q q 0 0 0 rg BT 416.57 617.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 463.60 617.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 490.09 617.10 Td (for ) Tj ET Q q 0 0 0 rg BT 504.36 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 519.18 617.10 Td (underlying ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 605.10 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 137.38 605.10 Td (maturity) Tj ET Q q 0 0 0 rg BT 170.62 605.10 Td (, ) Tj ET Q q 0 0 0 rg BT 175.83 605.10 Td (quoted ) Tj ET Q q 0 0 0 rg BT 205.77 605.10 Td (forward ) Tj ET Q q 0 0 0 rg BT 240.14 605.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 266.74 605.10 Td (for ) Tj ET Q q 0 0 0 rg BT 281.11 605.10 Td (commodities, ) Tj ET Q q 0 0 0 rg BT 337.99 605.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 370.15 605.10 Td (rates, ) Tj ET Q q 0 0 0 rg BT 394.24 605.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 433.07 605.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 462.99 605.10 Td (and ) Tj ET Q q 0 0 0 rg BT 480.15 605.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 505.63 605.10 Td (worthiness, ) Tj ET Q q 0 0 0 rg BT 554.18 605.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 593.10 Td (well ) Tj ET Q q 0 0 0 rg BT 106.30 593.10 Td (as ) Tj ET Q q 0 0 0 rg BT 118.22 593.10 Td (other ) Tj ET Q q 0 0 0 rg BT 142.35 593.10 Td (relevant ) Tj ET Q q 0 0 0 rg BT 178.14 593.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 220.60 593.10 Td (measures.��Substantially ) Tj ET Q q 0 0 0 rg BT 321.12 593.10 Td (all ) Tj ET Q q 0 0 0 rg BT 334.70 593.10 Td (of ) Tj ET Q q 0 0 0 rg BT 346.61 593.10 Td (these ) Tj ET Q q 0 0 0 rg BT 370.75 593.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 423.78 593.10 Td (are ) Tj ET Q q 0 0 0 rg BT 439.57 593.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 486.48 593.10 Td (in ) Tj ET Q q 0 0 0 rg BT 497.84 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 513.64 593.10 Td (marketplace ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 581.10 Td (throughout ) Tj ET Q q 0 0 0 rg BT 131.82 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 146.48 581.10 Td (full ) Tj ET Q q 0 0 0 rg BT 162.80 581.10 Td (term ) Tj ET Q q 0 0 0 rg BT 183.57 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 194.34 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.99 581.10 Td (instrument, ) Tj ET Q q 0 0 0 rg BT 256.70 581.10 Td (can ) Tj ET Q q 0 0 0 rg BT 273.02 581.10 Td (be ) Tj ET Q q 0 0 0 rg BT 284.89 581.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 317.32 581.10 Td (from ) Tj ET Q q 0 0 0 rg BT 339.19 581.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 384.95 581.10 Td (data ) Tj ET Q q 0 0 0 rg BT 404.04 581.10 Td (or ) Tj ET Q q 0 0 0 rg BT 414.81 581.10 Td (are ) Tj ET Q q 0 0 0 rg BT 429.45 581.10 Td (supported ) Tj ET Q q 0 0 0 rg BT 471.33 581.10 Td (by ) Tj ET Q q 0 0 0 rg BT 483.77 581.10 Td (observable ) Tj ET Q q 0 0 0 rg BT 529.52 581.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 555.28 581.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 569.10 Td (which ) Tj ET Q q 0 0 0 rg BT 112.44 569.10 Td (transactions ) Tj ET Q q 0 0 0 rg BT 162.70 569.10 Td (are ) Tj ET Q q 0 0 0 rg BT 177.41 569.10 Td (executed ) Tj ET Q q 0 0 0 rg BT 215.44 569.10 Td (in ) Tj ET Q q 0 0 0 rg BT 225.72 569.10 Td (the ) Tj ET Q q 0 0 0 rg BT 240.44 569.10 Td (marketplace.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 545.10 Td (� ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 545.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 111.42 545.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 119.58 545.10 Td (� ) Tj ET Q q 0 0 0 rg BT 127.74 545.10 Td (Pricing ) Tj ET Q q 0 0 0 rg BT 159.78 545.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 187.39 545.10 Td (include ) Tj ET Q q 0 0 0 rg BT 219.98 545.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 265.35 545.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 292.96 545.10 Td (that ) Tj ET Q q 0 0 0 rg BT 311.11 545.10 Td (are ) Tj ET Q q 0 0 0 rg BT 326.48 545.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 366.84 545.10 Td (less ) Tj ET Q q 0 0 0 rg BT 385.00 545.10 Td (observable.��) Tj ET Q q 0 0 0 rg BT 435.63 545.10 Td (These ) Tj ET Q q 0 0 0 rg BT 462.67 545.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 490.27 545.10 Td (may ) Tj ET Q q 0 0 0 rg BT 510.65 545.10 Td (be ) Tj ET Q q 0 0 0 rg BT 523.24 545.10 Td (used ) Tj ET Q q 0 0 0 rg BT 544.73 545.10 Td (with ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 533.10 Td (internally ) Tj ET Q q 0 0 0 rg BT 126.50 533.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 170.28 533.10 Td (methodologies ) Tj ET Q q 0 0 0 rg BT 231.84 533.10 Td (that ) Tj ET Q q 0 0 0 rg BT 249.52 533.10 Td (result ) Tj ET Q q 0 0 0 rg BT 274.42 533.10 Td (in ) Tj ET Q q 0 0 0 rg BT 284.88 533.10 Td (management�) Tj ET Q q 0 0 0 rg BT 338.75 533.10 Td (s ) Tj ET Q q 0 0 0 rg BT 345.32 533.10 Td (best ) Tj ET Q q 0 0 0 rg BT 364.11 533.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 400.11 533.10 Td (of ) Tj ET Q q 0 0 0 rg BT 411.13 533.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 427.68 533.10 Td (value.� ) Tj ET Q q 0 0 0 rg BT 456.43 533.10 Td (As ) Tj ET Q q 0 0 0 rg BT 470.22 533.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 481.24 533.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 540.00 533.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.00 533.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 521.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 134.98 521.10 Td (in ) Tj ET Q q 0 0 0 rg BT 145.57 521.10 Td (this ) Tj ET Q q 0 0 0 rg BT 162.83 521.10 Td (category ) Tj ET Q q 0 0 0 rg BT 200.07 521.10 Td (included ) Tj ET Q q 0 0 0 rg BT 237.32 521.10 Td (non-exchange-traded ) Tj ET Q q 0 0 0 rg BT 324.53 521.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 367.32 521.10 Td (collars ) Tj ET Q q 0 0 0 rg BT 396.79 521.10 Td (that ) Tj ET Q q 0 0 0 rg BT 414.60 521.10 Td (were ) Tj ET Q q 0 0 0 rg BT 436.84 521.10 Td (based ) Tj ET Q q 0 0 0 rg BT 462.43 521.10 Td (on ) Tj ET Q q 0 0 0 rg BT 475.24 521.10 Td (regional ) Tj ET Q q 0 0 0 rg BT 510.82 521.10 Td (pricing ) Tj ET Q q 0 0 0 rg BT 541.96 521.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 509.10 Td (than ) Tj ET Q q 0 0 0 rg BT 105.82 509.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 145.58 509.10 Td (\(e.g., ) Tj ET Q q 0 0 0 rg BT 168.95 509.10 Td (Light ) Tj ET Q q 0 0 0 rg BT 193.71 509.10 Td (Louisiana ) Tj ET Q q 0 0 0 rg BT 236.25 509.10 Td (Sweet\). ) Tj ET Q q 0 0 0 rg BT 269.62 509.10 Td ( ) Tj ET Q q 0 0 0 rg BT 272.49 509.10 Td (The ) Tj ET Q q 0 0 0 rg BT 291.14 509.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 331.45 509.10 Td (models ) Tj ET Q q 0 0 0 rg BT 363.44 509.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 396.52 509.10 Td (for ) Tj ET Q q 0 0 0 rg BT 411.28 509.10 Td (costless ) Tj ET Q q 0 0 0 rg BT 445.49 509.10 Td (collars ) Tj ET Q q 0 0 0 rg BT 475.25 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 492.79 509.10 Td (three-way ) Tj ET Q q 0 0 0 rg BT 535.86 509.10 Td (collars ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 497.10 Td (were ) Tj ET Q q 0 0 0 rg BT 108.04 497.10 Td (consistent ) Tj ET Q q 0 0 0 rg BT 151.15 497.10 Td (with ) Tj ET Q q 0 0 0 rg BT 172.04 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 187.37 497.10 Td (methodologies ) Tj ET Q q 0 0 0 rg BT 249.36 497.10 Td (described ) Tj ET Q q 0 0 0 rg BT 290.79 497.10 Td (above; ) Tj ET Q q 0 0 0 rg BT 320.56 497.10 Td (however) Tj ET Q q 0 0 0 rg BT 354.59 497.10 Td (, ) Tj ET Q q 0 0 0 rg BT 360.20 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.53 497.10 Td (implied ) Tj ET Q q 0 0 0 rg BT 409.20 497.10 Td (volatilities ) Tj ET Q q 0 0 0 rg BT 454.53 497.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 487.63 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 498.52 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 513.85 497.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 554.17 497.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 485.10 Td (Level ) Tj ET Q q 0 0 0 rg BT 111.68 485.10 Td (3 ) Tj ET Q q 0 0 0 rg BT 120.09 485.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 170.18 485.10 Td (were ) Tj ET Q q 0 0 0 rg BT 193.02 485.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 237.53 485.10 Td (using ) Tj ET Q q 0 0 0 rg BT 262.61 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 270.47 485.10 Td (benchmark, ) Tj ET Q q 0 0 0 rg BT 320.81 485.10 Td (which ) Tj ET Q q 0 0 0 rg BT 348.66 485.10 Td (was ) Tj ET Q q 0 0 0 rg BT 367.63 485.10 Td (considered ) Tj ET Q q 0 0 0 rg BT 414.36 485.10 Td (a ) Tj ET Q q 0 0 0 rg BT 422.21 485.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 467.84 485.10 Td (unobservable ) Tj ET Q q 0 0 0 rg BT 524.57 485.10 Td (input. ) Tj ET Q q 0 0 0 rg BT 550.29 485.10 Td (An ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 473.10 Td (increase ) Tj ET Q q 0 0 0 rg BT 120.12 473.10 Td (or ) Tj ET Q q 0 0 0 rg BT 130.32 473.10 Td (decrease ) Tj ET Q q 0 0 0 rg BT 166.60 473.10 Td (of ) Tj ET Q q 0 0 0 rg BT 176.79 473.10 Td (100 ) Tj ET Q q 0 0 0 rg BT 193.66 473.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 215.53 473.10 Td (points ) Tj ET Q q 0 0 0 rg BT 241.84 473.10 Td (in ) Tj ET Q q 0 0 0 rg BT 251.49 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.57 473.10 Td (implied ) Tj ET Q q 0 0 0 rg BT 297.99 473.10 Td (volatility ) Tj ET Q q 0 0 0 rg BT 335.97 473.10 Td (inputs ) Tj ET Q q 0 0 0 rg BT 362.28 473.10 Td (utilized ) Tj ET Q q 0 0 0 rg BT 394.14 473.10 Td (in ) Tj ET Q q 0 0 0 rg BT 403.78 473.10 Td (our ) Tj ET Q q 0 0 0 rg BT 418.98 473.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 434.72 473.10 Td (value ) Tj ET Q q 0 0 0 rg BT 458.24 473.10 Td (measurement ) Tj ET Q q 0 0 0 rg BT 513.42 473.10 Td (would ) Tj ET Q q 0 0 0 rg BT 540.29 473.10 Td (result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 461.10 Td (in ) Tj ET Q q 0 0 0 rg BT 95.78 461.10 Td (a ) Tj ET Q q 0 0 0 rg BT 102.72 461.10 Td (change ) Tj ET Q q 0 0 0 rg BT 133.53 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 144.36 461.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 204.62 461.10 Td ($180) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 224.62 461.10 Td ( ) Tj ET Q q 0 0 0 rg BT 227.12 461.10 Td (thousand ) Tj ET Q q 0 0 0 rg BT 265.73 461.10 Td (in ) Tj ET Q q 0 0 0 rg BT 276.01 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 290.72 461.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 307.10 461.10 Td (value ) Tj ET Q q 0 0 0 rg BT 331.26 461.10 Td (of ) Tj ET Q q 0 0 0 rg BT 342.09 461.10 Td (these ) Tj ET Q q 0 0 0 rg BT 365.13 461.10 Td (instruments ) Tj ET Q q 0 0 0 rg BT 414.30 461.10 Td (as ) Tj ET Q q 0 0 0 rg BT 425.13 461.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 435.96 461.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 494.54 461.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.54 461.10 Td (. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 437.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 437.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.36 437.10 Td (adjust ) Tj ET Q q 0 0 0 rg BT 110.03 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 125.03 437.10 Td (valuations ) Tj ET Q q 0 0 0 rg BT 168.92 437.10 Td (from ) Tj ET Q q 0 0 0 rg BT 191.15 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 206.15 437.10 Td (valuation ) Tj ET Q q 0 0 0 rg BT 246.14 437.10 Td (model ) Tj ET Q q 0 0 0 rg BT 273.92 437.10 Td (for ) Tj ET Q q 0 0 0 rg BT 288.37 437.10 Td (nonperformance ) Tj ET Q q 0 0 0 rg BT 356.67 437.10 Td (risk, ) Tj ET Q q 0 0 0 rg BT 376.96 437.10 Td (using ) Tj ET Q q 0 0 0 rg BT 401.41 437.10 Td (our ) Tj ET Q q 0 0 0 rg BT 417.53 437.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 453.63 437.10 Td (of ) Tj ET Q q 0 0 0 rg BT 464.75 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 479.75 437.10 Td (counterparty�) Tj ET Q q 0 0 0 rg BT 533.06 437.10 Td (s ) Tj ET Q q 0 0 0 rg BT 539.74 437.10 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (quality ) Tj ET Q q 0 0 0 rg BT 80.91 425.10 Td (for ) Tj ET Q q 0 0 0 rg BT 96.21 425.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 119.29 425.10 Td (positions ) Tj ET Q q 0 0 0 rg BT 159.04 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 177.12 425.10 Td (our ) Tj ET Q q 0 0 0 rg BT 194.08 425.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 220.49 425.10 Td (quality ) Tj ET Q q 0 0 0 rg BT 251.90 425.10 Td (for ) Tj ET Q q 0 0 0 rg BT 267.20 425.10 Td (liability ) Tj ET Q q 0 0 0 rg BT 301.94 425.10 Td (positions.��) Tj ET Q q 0 0 0 rg BT 345.38 425.10 Td (W) Tj ET Q q 0 0 0 rg BT 354.02 425.10 Td (e ) Tj ET Q q 0 0 0 rg BT 362.09 425.10 Td (use ) Tj ET Q q 0 0 0 rg BT 379.06 425.10 Td (multiple ) Tj ET Q q 0 0 0 rg BT 416.03 425.10 Td (sources ) Tj ET Q q 0 0 0 rg BT 449.66 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 461.62 425.10 Td (third-party ) Tj ET Q q 0 0 0 rg BT 508.03 425.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 534.43 425.10 Td (data ) Tj ET Q q 0 0 0 rg BT 554.72 425.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 100.32 413.10 Td (counterparty ) Tj ET Q q 0 0 0 rg BT 153.35 413.10 Td (nonperformance ) Tj ET Q q 0 0 0 rg BT 221.38 413.10 Td (risk, ) Tj ET Q q 0 0 0 rg BT 241.38 413.10 Td (including ) Tj ET Q q 0 0 0 rg BT 281.65 413.10 Td (credit ) Tj ET Q q 0 0 0 rg BT 306.91 413.10 Td (default ) Tj ET Q q 0 0 0 rg BT 337.18 413.10 Td (swaps.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 389.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.57 389.10 Td (following ) Tj ET Q q 0 0 0 rg BT 126.98 389.10 Td (table ) Tj ET Q q 0 0 0 rg BT 148.94 389.10 Td (sets ) Tj ET Q q 0 0 0 rg BT 166.46 389.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 188.43 389.10 Td (by ) Tj ET Q q 0 0 0 rg BT 200.95 389.10 Td (level ) Tj ET Q q 0 0 0 rg BT 222.91 389.10 Td (within ) Tj ET Q q 0 0 0 rg BT 250.99 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 265.73 389.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 282.13 389.10 Td (value ) Tj ET Q q 0 0 0 rg BT 306.31 389.10 Td (hierarchy ) Tj ET Q q 0 0 0 rg BT 346.59 389.10 Td (our ) Tj ET Q q 0 0 0 rg BT 362.45 389.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 399.95 389.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 425.81 389.10 Td (and ) Tj ET Q q 0 0 0 rg BT 442.77 389.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 482.51 389.10 Td (that ) Tj ET Q q 0 0 0 rg BT 500.03 389.10 Td (were ) Tj ET Q q 0 0 0 rg BT 521.98 389.10 Td (accounted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.66 377.10 Td (at ) Tj ET Q q 0 0 0 rg BT 73.38 377.10 Td (fair ) Tj ET Q q 0 0 0 rg BT 89.75 377.10 Td (value ) Tj ET Q q 0 0 0 rg BT 113.91 377.10 Td (on ) Tj ET Q q 0 0 0 rg BT 126.41 377.10 Td (a ) Tj ET Q q 0 0 0 rg BT 133.35 377.10 Td (recurring ) Tj ET Q q 0 0 0 rg BT 172.49 377.10 Td (basis ) Tj ET Q q 0 0 0 rg BT 194.99 377.10 Td (as ) Tj ET Q q 0 0 0 rg BT 205.82 377.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 216.65 377.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 275.24 377.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 295.24 377.10 Td ( ) Tj ET Q q 0 0 0 rg BT 297.74 377.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 314.68 377.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 334.68 377.10 Td (:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 295.60 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 295.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 295.60 65.00 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0 j 3 M 290 146.60000000000002 m 355 146.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 144.60000000000002 m 355 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 160.60000000000002 m 424 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 146.60000000000002 m 424 146.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 144.60000000000002 m 424 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 160.60000000000002 m 493 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 146.60000000000002 m 493 146.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 144.60000000000002 m 493 144.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 160.60000000000002 m 562 160.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 146.60000000000002 m 562 146.60000000000002 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 144.60000000000002 m 562 144.60000000000002 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 357.17 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.90 357.17 Td (Fair ) Tj ET Q q 0 0 0 rg BT 378.42 357.17 Td (V) Tj ET Q q 0 0 0 rg BT 385.00 357.17 Td (alue Measurements Using:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.80 333.27 Td (Quoted Prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.80 323.27 Td (in ) Tj ET Q q 0 0 0 rg BT 313.53 323.27 Td (Active) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 305.60 313.27 Td (Markets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 369.05 343.27 Td (Significant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.60 333.27 Td (Other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 368.20 323.27 Td (Observable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 378.50 313.27 Td (Inputs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 438.05 333.27 Td (Significant) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.20 323.27 Td (Unobservable) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.50 313.27 Td (Inputs) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 299.16 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 303.50 299.17 Td (\(Level 1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 372.50 299.17 Td (\(Level 2\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.50 299.17 Td (\(Level 3\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.75 299.17 Td (T) Tj ET Q q 0 0 0 rg BT 524.16 299.17 Td (otal) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 285.28 Td (December) Tj ET Q q 0 0 0 rg BT 94.72 285.28 Td ( 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 285.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 285.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 285.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 285.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 270.27 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 255.27 Td (Oil derivative contracts � current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 255.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 255.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 255.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 255.27 Td (81,621) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 255.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 255.27 Td (1) Tj ET Q q 0 0 0 rg BT 466.65 255.27 Td (1,459) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 255.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 255.27 Td (93,080) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 240.27 Td (Oil derivative contracts � long-term) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 240.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 240.27 Td (2,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 240.27 Td (2,165) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 240.27 Td (4,195) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 225.27 Td (T) Tj ET Q q 0 0 0 rg BT 81.26 225.27 Td (otal ) Tj ET Q q 0 0 0 rg BT 98.13 225.27 Td (Assets) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 225.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 225.27 Td (83,651) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 225.27 Td (13,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 225.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 225.27 Td (97,275) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 195.28 Td (December) Tj ET Q q 0 0 0 rg BT 94.63 195.28 Td ( 31, 2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 195.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 195.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 195.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 195.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 180.27 Td (Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 180.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 180.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 180.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 180.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 165.27 Td (Oil derivative contracts � current) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 165.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 165.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 165.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 165.32 Td (\(99,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 165.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 165.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 165.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 165.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 165.32 Td (\(99,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 165.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 75.50 150.27 Td (T) Tj ET Q q 0 0 0 rg BT 80.91 150.27 Td (otal Liabilities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 150.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 341.15 150.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 150.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 150.32 Td (\(99,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 150.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 150.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 150.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 150.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 150.32 Td (\(99,061) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 150.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 122.10 Td (Since ) Tj ET Q q 0 0 0 rg BT 93.10 122.10 Td (we ) Tj ET Q q 0 0 0 rg BT 108.14 122.10 Td (do ) Tj ET Q q 0 0 0 rg BT 121.53 122.10 Td (not ) Tj ET Q q 0 0 0 rg BT 137.69 122.10 Td (apply ) Tj ET Q q 0 0 0 rg BT 163.29 122.10 Td (hedge ) Tj ET Q q 0 0 0 rg BT 190.55 122.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 237.81 122.10 Td (for ) Tj ET Q q 0 0 0 rg BT 252.85 122.10 Td (our ) Tj ET Q q 0 0 0 rg BT 269.57 122.10 Td (commodity ) Tj ET Q q 0 0 0 rg BT 318.50 122.10 Td (derivative ) Tj ET Q q 0 0 0 rg BT 361.87 122.10 Td (contracts, ) Tj ET Q q 0 0 0 rg BT 403.84 122.10 Td (any ) Tj ET Q q 0 0 0 rg BT 421.67 122.10 Td (gains ) Tj ET Q q 0 0 0 rg BT 446.16 122.10 Td (and ) Tj ET Q q 0 0 0 rg BT 463.98 122.10 Td (losses ) Tj ET Q q 0 0 0 rg BT 491.25 122.10 Td (on ) Tj ET Q q 0 0 0 rg BT 504.64 122.10 Td (our ) Tj ET Q q 0 0 0 rg BT 521.35 122.10 Td (assets ) Tj ET Q q 0 0 0 rg BT 548.07 122.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 110.10 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 88.35 110.10 Td (are ) Tj ET Q q 0 0 0 rg BT 102.19 110.10 Td (included ) Tj ET Q q 0 0 0 rg BT 138.26 110.10 Td (in ) Tj ET Q q 0 0 0 rg BT 147.67 110.10 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.11 110.10 Td (Commodity ) Tj ET Q q 0 0 0 rg BT 201.52 110.10 Td (derivatives ) Tj ET Q q 0 0 0 rg BT 247.03 110.10 Td (expense ) Tj ET Q q 0 0 0 rg BT 280.87 110.10 Td (\(income\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 316.96 110.10 Td (� ) Tj ET Q q 0 0 0 rg BT 323.04 110.10 Td (in ) Tj ET Q q 0 0 0 rg BT 332.45 110.10 Td (the ) Tj ET Q q 0 0 0 rg BT 346.30 110.10 Td (accompanying ) Tj ET Q q 0 0 0 rg BT 406.24 110.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 460.65 110.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 506.16 110.10 Td (of ) Tj ET Q q 0 0 0 rg BT 516.13 110.10 Td (Operations.) Tj ET Q endstream endobj 187 0 obj <> endobj 188 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (93) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 713.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 75.33 713.25 Td (3 ) Tj ET Q q 0 0 0 rg BT 82.83 713.25 Td (Fair) Tj ET Q q 0 0 0 rg BT 100.97 713.25 Td ( ) Tj ET Q q 0 0 0 rg BT 103.29 713.25 Td (V) Tj ET Q q 0 0 0 rg BT 109.59 713.25 Td (alue ) Tj ET Q q 0 0 0 rg BT 129.87 713.25 Td (Measur) Tj ET Q q 0 0 0 rg BT 162.46 713.25 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 689.25 Td (The ) Tj ET Q q 0 0 0 rg BT 87.05 689.25 Td (following ) Tj ET Q q 0 0 0 rg BT 129.95 689.25 Td (table ) Tj ET Q q 0 0 0 rg BT 153.39 689.25 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 205.16 689.25 Td (the ) Tj ET Q q 0 0 0 rg BT 221.39 689.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 257.60 689.25 Td (in ) Tj ET Q q 0 0 0 rg BT 269.39 689.25 Td (the ) Tj ET Q q 0 0 0 rg BT 285.61 689.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 303.50 689.25 Td (value ) Tj ET Q q 0 0 0 rg BT 329.16 689.25 Td (of ) Tj ET Q q 0 0 0 rg BT 341.50 689.25 Td (our ) Tj ET Q q 0 0 0 rg BT 358.84 689.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 385.61 689.25 Td (3 ) Tj ET Q q 0 0 0 rg BT 394.62 689.25 Td (assets ) Tj ET Q q 0 0 0 rg BT 421.95 689.25 Td (and ) Tj ET Q q 0 0 0 rg BT 440.40 689.25 Td (liabilities ) Tj ET Q q 0 0 0 rg BT 481.62 689.25 Td (for ) Tj ET Q q 0 0 0 rg BT 497.29 689.25 Td (the ) Tj ET Q q 0 0 0 rg BT 513.52 689.25 Td (years ) Tj ET Q q 0 0 0 rg BT 538.62 689.25 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 108.08 677.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.08 677.25 Td ( ) Tj ET Q q 0 0 0 rg BT 130.58 677.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 147.52 677.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.52 677.25 Td (:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 637.75 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 637.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 637.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 637.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 637.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 607.75 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 607.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 607.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 607.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 607.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 577.75 375.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 577.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 577.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 577.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 577.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 652.75 m 493 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 652.75 m 497 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 652.75 m 562 652.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 637.75 m 424 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 637.75 m 493 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 637.75 m 562 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 637.75 m 493 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 637.75 m 562 637.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 592.75 m 493 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 592.75 m 562 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 592.75 m 493 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 578.75 m 493 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 576.75 m 493 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 592.75 m 562 592.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 578.75 m 562 578.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 576.75 m 562 576.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 538.75 m 493 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 536.75 m 493 536.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 538.75 m 562 538.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 536.75 m 562 536.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 441.95 657.32 Td (Y) Tj ET Q q 0 0 0 rg BT 448.67 657.32 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 642.46 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 642.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 642.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 627.42 Td (Fair value of Level 3 instruments, beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 627.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 627.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 627.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 539.80 627.47 Td (\(526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 627.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 612.42 Td (Fair value adjustments on commodity derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 612.42 Td (13,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 612.42 Td (526) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 597.42 Td (Payment on settlements of commodity derivatives) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 597.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 597.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 582.42 Td (Fair value of Level 3 instruments, end of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 582.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 582.42 Td (13,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 582.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 582.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 552.42 Td (The amount of total gains for the period included in earnings attributable to the change in) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 542.42 Td (unrealized gains relating to assets or liabilities still held at the reporting date) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 542.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 542.42 Td (13,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 542.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 542.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 514.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 514.25 Td (e ) Tj ET Q q 0 0 0 rg BT 84.15 514.25 Td (utilize ) Tj ET Q q 0 0 0 rg BT 112.71 514.25 Td (an ) Tj ET Q q 0 0 0 rg BT 125.72 514.25 Td (income ) Tj ET Q q 0 0 0 rg BT 158.73 514.25 Td (approach ) Tj ET Q q 0 0 0 rg BT 198.95 514.25 Td (to ) Tj ET Q q 0 0 0 rg BT 210.30 514.25 Td (value ) Tj ET Q q 0 0 0 rg BT 235.53 514.25 Td (our ) Tj ET Q q 0 0 0 rg BT 252.43 514.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 278.77 514.25 Td (3 ) Tj ET Q q 0 0 0 rg BT 287.34 514.25 Td (three-way ) Tj ET Q q 0 0 0 rg BT 330.89 514.25 Td (collars. ) Tj ET Q q 0 0 0 rg BT 363.36 514.25 Td (W) Tj ET Q q 0 0 0 rg BT 372.00 514.25 Td (e ) Tj ET Q q 0 0 0 rg BT 380.01 514.25 Td (obtain ) Tj ET Q q 0 0 0 rg BT 408.58 514.25 Td (and ) Tj ET Q q 0 0 0 rg BT 426.59 514.25 Td (ensure ) Tj ET Q q 0 0 0 rg BT 456.26 514.25 Td (the ) Tj ET Q q 0 0 0 rg BT 472.05 514.25 Td (appropriateness ) Tj ET Q q 0 0 0 rg BT 538.38 514.25 Td (of ) Tj ET Q q 0 0 0 rg BT 550.28 514.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 502.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 95.35 502.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 123.44 502.25 Td (to ) Tj ET Q q 0 0 0 rg BT 134.86 502.25 Td (the ) Tj ET Q q 0 0 0 rg BT 150.72 502.25 Td (calculation, ) Tj ET Q q 0 0 0 rg BT 200.73 502.25 Td (including ) Tj ET Q q 0 0 0 rg BT 242.15 502.25 Td (contractual ) Tj ET Q q 0 0 0 rg BT 290.21 502.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 317.72 502.25 Td (for ) Tj ET Q q 0 0 0 rg BT 333.03 502.25 Td (the ) Tj ET Q q 0 0 0 rg BT 348.88 502.25 Td (underlying ) Tj ET Q q 0 0 0 rg BT 395.85 502.25 Td (instruments, ) Tj ET Q q 0 0 0 rg BT 448.66 502.25 Td (maturity) Tj ET Q q 0 0 0 rg BT 481.89 502.25 Td (, ) Tj ET Q q 0 0 0 rg BT 488.03 502.25 Td (forward ) Tj ET Q q 0 0 0 rg BT 523.32 502.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 550.84 502.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 490.25 Td (commodities, ) Tj ET Q q 0 0 0 rg BT 106.94 490.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 139.65 490.25 Td (rates, ) Tj ET Q q 0 0 0 rg BT 164.31 490.25 Td (volatility ) Tj ET Q q 0 0 0 rg BT 203.69 490.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 234.18 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 251.90 490.25 Td (credit ) Tj ET Q q 0 0 0 rg BT 277.94 490.25 Td (worthiness, ) Tj ET Q q 0 0 0 rg BT 327.05 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 344.77 490.25 Td (the ) Tj ET Q q 0 0 0 rg BT 360.26 490.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 377.42 490.25 Td (value ) Tj ET Q q 0 0 0 rg BT 402.35 490.25 Td (estimate ) Tj ET Q q 0 0 0 rg BT 438.95 490.25 Td (is ) Tj ET Q q 0 0 0 rg BT 448.90 490.25 Td (prepared ) Tj ET Q q 0 0 0 rg BT 487.15 490.25 Td (and ) Tj ET Q q 0 0 0 rg BT 504.87 490.25 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 544.80 490.25 Td (on ) Tj ET Q q 0 0 0 rg BT 558.07 490.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 478.25 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 88.11 478.25 Td (basis. ) Tj ET Q q 0 0 0 rg BT 112.94 478.25 Td (The ) Tj ET Q q 0 0 0 rg BT 131.00 478.25 Td (following ) Tj ET Q q 0 0 0 rg BT 172.40 478.25 Td (table ) Tj ET Q q 0 0 0 rg BT 194.35 478.25 Td (details ) Tj ET Q q 0 0 0 rg BT 222.96 478.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 239.36 478.25 Td (value ) Tj ET Q q 0 0 0 rg BT 263.52 478.25 Td (inputs ) Tj ET Q q 0 0 0 rg BT 290.49 478.25 Td (related ) Tj ET Q q 0 0 0 rg BT 320.20 478.25 Td (to ) Tj ET Q q 0 0 0 rg BT 330.49 478.25 Td (implied ) Tj ET Q q 0 0 0 rg BT 363.56 478.25 Td (volatilities ) Tj ET Q q 0 0 0 rg BT 408.29 478.25 Td (utilized ) Tj ET Q q 0 0 0 rg BT 440.79 478.25 Td (in ) Tj ET Q q 0 0 0 rg BT 451.09 478.25 Td (the ) Tj ET Q q 0 0 0 rg BT 465.82 478.25 Td (valuation ) Tj ET Q q 0 0 0 rg BT 505.54 478.25 Td (of ) Tj ET Q q 0 0 0 rg BT 516.39 478.25 Td (our ) Tj ET Q q 0 0 0 rg BT 532.23 478.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 557.51 478.25 Td (3 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 466.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 62.56 466.25 Td (derivative ) Tj ET Q q 0 0 0 rg BT 105.04 466.25 Td (contracts:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.50 409.75 71.00 -35.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 120.50 409.75 4.00 -35.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 124.50 409.75 70.00 -35.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 194.50 409.75 4.00 -35.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 198.50 409.75 64.00 -35.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 262.50 409.75 4.00 -35.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 266.50 409.75 206.00 -35.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 472.50 409.75 4.00 -35.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 476.50 409.75 85.00 -35.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 124.5 409.75 m 194.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 409.75 m 262.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 409.75 m 472.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 409.75 m 561.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 124.5 409.75 m 194.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198.5 409.75 m 262.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 266.5 409.75 m 472.5 409.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 476.5 409.75 m 561.5 409.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.50 434.32 Td (Fair ) Tj ET Q q 0 0 0 rg BT 152.02 434.32 Td (V) Tj ET Q q 0 0 0 rg BT 158.60 434.32 Td (alue at) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 136.20 424.32 Td (12/31/2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 130.50 414.32 Td (\(in thousands\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.80 424.42 Td (V) Tj ET Q q 0 0 0 rg BT 217.47 424.42 Td (aluation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.20 414.42 Td (T) Tj ET Q q 0 0 0 rg BT 214.96 414.42 Td (echnique) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 329.40 414.42 Td (Unobservable Input) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 485.95 414.42 Td (V) Tj ET Q q 0 0 0 rg BT 492.53 414.42 Td (olatility Range) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 389.42 Td (Oil derivative) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 379.42 Td (contracts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 127.00 379.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 163.15 379.42 Td (13,624) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 207.20 399.42 Td (Discounted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 208.05 389.42 Td (cash flow /) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.10 379.42 Td (Black-Scholes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 389.42 Td (V) Tj ET Q q 0 0 0 rg BT 274.93 389.42 Td (olatility of Light Louisiana Sweet for settlement) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.00 379.42 Td (periods beginning after December 31, 2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 487.65 379.42 Td (23.3% � 43.5%) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 339.25 Td (Other) Tj ET Q q 0 0 0 rg BT 74.87 339.25 Td ( Fair) Tj ET Q q 0 0 0 rg BT 95.51 339.25 Td ( ) Tj ET Q q 0 0 0 rg BT 97.83 339.25 Td (V) Tj ET Q q 0 0 0 rg BT 104.13 339.25 Td (alue Measur) Tj ET Q q 0 0 0 rg BT 157.00 339.25 Td (ements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 315.25 Td (The ) Tj ET Q q 0 0 0 rg BT 85.79 315.25 Td (carrying ) Tj ET Q q 0 0 0 rg BT 121.86 315.25 Td (value ) Tj ET Q q 0 0 0 rg BT 146.26 315.25 Td (of ) Tj ET Q q 0 0 0 rg BT 157.33 315.25 Td (our ) Tj ET Q q 0 0 0 rg BT 173.41 315.25 Td (loans ) Tj ET Q q 0 0 0 rg BT 197.27 315.25 Td (under ) Tj ET Q q 0 0 0 rg BT 222.78 315.25 Td (our ) Tj ET Q q 0 0 0 rg BT 238.86 315.25 Td (Bank ) Tj ET Q q 0 0 0 rg BT 262.71 315.25 Td (Credit ) Tj ET Q q 0 0 0 rg BT 289.85 315.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 337.02 315.25 Td (approximate ) Tj ET Q q 0 0 0 rg BT 389.75 315.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 406.37 315.25 Td (value, ) Tj ET Q q 0 0 0 rg BT 433.27 315.25 Td (as ) Tj ET Q q 0 0 0 rg BT 444.35 315.25 Td (they ) Tj ET Q q 0 0 0 rg BT 464.31 315.25 Td (are ) Tj ET Q q 0 0 0 rg BT 479.26 315.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 510.34 315.25 Td (to ) Tj ET Q q 0 0 0 rg BT 520.86 315.25 Td (short-term ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 303.25 Td (floating ) Tj ET Q q 0 0 0 rg BT 82.91 303.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 114.65 303.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 135.84 303.25 Td (that ) Tj ET Q q 0 0 0 rg BT 153.14 303.25 Td (approximate ) Tj ET Q q 0 0 0 rg BT 205.43 303.25 Td (the ) Tj ET Q q 0 0 0 rg BT 219.95 303.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 241.13 303.25 Td (available ) Tj ET Q q 0 0 0 rg BT 279.53 303.25 Td (to ) Tj ET Q q 0 0 0 rg BT 289.61 303.25 Td (us ) Tj ET Q q 0 0 0 rg BT 300.81 303.25 Td (for ) Tj ET Q q 0 0 0 rg BT 314.78 303.25 Td (those ) Tj ET Q q 0 0 0 rg BT 338.20 303.25 Td (periods.��) Tj ET Q q 0 0 0 rg BT 374.95 303.25 Td (W) Tj ET Q q 0 0 0 rg BT 383.59 303.25 Td (e ) Tj ET Q q 0 0 0 rg BT 390.34 303.25 Td (use ) Tj ET Q q 0 0 0 rg BT 405.97 303.25 Td (a ) Tj ET Q q 0 0 0 rg BT 412.72 303.25 Td (market ) Tj ET Q q 0 0 0 rg BT 442.79 303.25 Td (approach ) Tj ET Q q 0 0 0 rg BT 481.74 303.25 Td (to ) Tj ET Q q 0 0 0 rg BT 491.83 303.25 Td (determine ) Tj ET Q q 0 0 0 rg BT 534.12 303.25 Td (the ) Tj ET Q q 0 0 0 rg BT 548.64 303.25 Td (fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 291.25 Td (value ) Tj ET Q q 0 0 0 rg BT 74.38 291.25 Td (of ) Tj ET Q q 0 0 0 rg BT 85.94 291.25 Td (our ) Tj ET Q q 0 0 0 rg BT 102.50 291.25 Td (fixed-rate ) Tj ET Q q 0 0 0 rg BT 144.58 291.25 Td (long-term ) Tj ET Q q 0 0 0 rg BT 187.24 291.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 207.69 291.25 Td (using ) Tj ET Q q 0 0 0 rg BT 232.58 291.25 Td (observable ) Tj ET Q q 0 0 0 rg BT 279.13 291.25 Td (market ) Tj ET Q q 0 0 0 rg BT 310.12 291.25 Td (data. ) Tj ET Q q 0 0 0 rg BT 332.50 291.25 Td ( ) Tj ET Q q 0 0 0 rg BT 335.49 291.25 Td (The ) Tj ET Q q 0 0 0 rg BT 354.26 291.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 371.37 291.25 Td (values ) Tj ET Q q 0 0 0 rg BT 400.14 291.25 Td (of ) Tj ET Q q 0 0 0 rg BT 411.70 291.25 Td (our ) Tj ET Q q 0 0 0 rg BT 428.25 291.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 455.92 291.25 Td (secured ) Tj ET Q q 0 0 0 rg BT 489.68 291.25 Td (second ) Tj ET Q q 0 0 0 rg BT 520.68 291.25 Td (lien ) Tj ET Q q 0 0 0 rg BT 538.90 291.25 Td (notes, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 279.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 95.25 279.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 145.44 279.25 Td (convertible ) Tj ET Q q 0 0 0 rg BT 193.95 279.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 221.92 279.25 Td (notes, ) Tj ET Q q 0 0 0 rg BT 249.06 279.25 Td (and ) Tj ET Q q 0 0 0 rg BT 267.03 279.25 Td (senior ) Tj ET Q q 0 0 0 rg BT 295.00 279.25 Td (subordinated ) Tj ET Q q 0 0 0 rg BT 350.18 279.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 374.82 279.25 Td (are ) Tj ET Q q 0 0 0 rg BT 390.56 279.25 Td (based ) Tj ET Q q 0 0 0 rg BT 416.86 279.25 Td (on ) Tj ET Q q 0 0 0 rg BT 430.39 279.25 Td (quoted ) Tj ET Q q 0 0 0 rg BT 461.14 279.25 Td (market ) Tj ET Q q 0 0 0 rg BT 492.43 279.25 Td (prices, ) Tj ET Q q 0 0 0 rg BT 522.34 279.25 Td (which ) Tj ET Q q 0 0 0 rg BT 550.31 279.25 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 267.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 95.29 267.25 Td (Level ) Tj ET Q q 0 0 0 rg BT 120.54 267.25 Td (1 ) Tj ET Q q 0 0 0 rg BT 128.01 267.25 Td (measurements ) Tj ET Q q 0 0 0 rg BT 187.69 267.25 Td (under ) Tj ET Q q 0 0 0 rg BT 212.94 267.25 Td (the ) Tj ET Q q 0 0 0 rg BT 227.63 267.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 243.99 267.25 Td (value ) Tj ET Q q 0 0 0 rg BT 268.12 267.25 Td (hierarchy) Tj ET Q q 0 0 0 rg BT 305.23 267.25 Td (.��) Tj ET Q q 0 0 0 rg BT 312.55 267.25 Td (The ) Tj ET Q q 0 0 0 rg BT 330.57 267.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 371.37 267.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 387.73 267.25 Td (value ) Tj ET Q q 0 0 0 rg BT 411.86 267.25 Td (of ) Tj ET Q q 0 0 0 rg BT 422.67 267.25 Td (the ) Tj ET Q q 0 0 0 rg BT 437.36 267.25 Td (principal ) Tj ET Q q 0 0 0 rg BT 475.38 267.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 507.85 267.25 Td (of ) Tj ET Q q 0 0 0 rg BT 518.66 267.25 Td (our ) Tj ET Q q 0 0 0 rg BT 534.47 267.25 Td (debt ) Tj ET Q q 0 0 0 rg BT 554.17 267.25 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 255.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.66 255.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 119.58 255.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.58 255.25 Td ( ) Tj ET Q q 0 0 0 rg BT 142.42 255.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 159.69 255.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 179.69 255.25 Td (, ) Tj ET Q q 0 0 0 rg BT 185.02 255.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 227.29 255.25 Td (pipeline ) Tj ET Q q 0 0 0 rg BT 262.34 255.25 Td (financing ) Tj ET Q q 0 0 0 rg BT 302.94 255.25 Td (and ) Tj ET Q q 0 0 0 rg BT 320.21 255.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 349.70 255.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 372.52 255.25 Td (obligations, ) Tj ET Q q 0 0 0 rg BT 422.29 255.25 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 440.68 255.25 Td ($1,886.1 ) Tj ET Q q 0 0 0 rg BT 478.51 255.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.41 255.25 Td ( ) Tj ET Q q 0 0 0 rg BT 510.24 255.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.51 255.25 Td ($2,260.6 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 243.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 78.39 243.25 Td (, ) Tj ET Q q 0 0 0 rg BT 83.48 243.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 131.14 243.25 Td (.��) Tj ET Q q 0 0 0 rg BT 138.46 243.25 Td (W) Tj ET Q q 0 0 0 rg BT 147.10 243.25 Td (e ) Tj ET Q q 0 0 0 rg BT 154.13 243.25 Td (have ) Tj ET Q q 0 0 0 rg BT 175.60 243.25 Td (other ) Tj ET Q q 0 0 0 rg BT 198.74 243.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 236.31 243.25 Td (instruments ) Tj ET Q q 0 0 0 rg BT 285.57 243.25 Td (consisting ) Tj ET Q q 0 0 0 rg BT 328.72 243.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 368.52 243.25 Td (of ) Tj ET Q q 0 0 0 rg BT 379.44 243.25 Td (cash, ) Tj ET Q q 0 0 0 rg BT 402.30 243.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 422.66 243.25 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 473.30 243.25 Td (short-term ) Tj ET Q q 0 0 0 rg BT 517.54 243.25 Td (receivables ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 231.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 231.25 Td (payables ) Tj ET Q q 0 0 0 rg BT 103.92 231.25 Td (that ) Tj ET Q q 0 0 0 rg BT 121.42 231.25 Td (approximate ) Tj ET Q q 0 0 0 rg BT 173.90 231.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 190.28 231.25 Td (value ) Tj ET Q q 0 0 0 rg BT 214.43 231.25 Td (due ) Tj ET Q q 0 0 0 rg BT 231.37 231.25 Td (to ) Tj ET Q q 0 0 0 rg BT 241.65 231.25 Td (the ) Tj ET Q q 0 0 0 rg BT 256.37 231.25 Td (nature ) Tj ET Q q 0 0 0 rg BT 283.85 231.25 Td (of ) Tj ET Q q 0 0 0 rg BT 294.68 231.25 Td (the ) Tj ET Q q 0 0 0 rg BT 309.40 231.25 Td (instrument ) Tj ET Q q 0 0 0 rg BT 354.67 231.25 Td (and ) Tj ET Q q 0 0 0 rg BT 371.61 231.25 Td (the ) Tj ET Q q 0 0 0 rg BT 386.33 231.25 Td (relatively ) Tj ET Q q 0 0 0 rg BT 426.58 231.25 Td (short ) Tj ET Q q 0 0 0 rg BT 449.08 231.25 Td (maturities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 207.25 Td (Note 12. Commitments and Contingencies) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 183.25 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 159.25 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 159.25 Td (e ) Tj ET Q q 0 0 0 rg BT 83.09 159.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 105.58 159.25 Td (of) Tj ET Q q 0 0 0 rg BT 113.73 159.25 Td (fice ) Tj ET Q q 0 0 0 rg BT 131.23 159.25 Td (space, ) Tj ET Q q 0 0 0 rg BT 158.45 159.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 203.17 159.25 Td (and ) Tj ET Q q 0 0 0 rg BT 220.12 159.25 Td (vehicles ) Tj ET Q q 0 0 0 rg BT 255.40 159.25 Td (that ) Tj ET Q q 0 0 0 rg BT 272.90 159.25 Td (have ) Tj ET Q q 0 0 0 rg BT 294.29 159.25 Td (non-cancelable ) Tj ET Q q 0 0 0 rg BT 357.32 159.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 379.82 159.25 Td (terms.��Currently) Tj ET Q q 0 0 0 rg BT 447.21 159.25 Td (, ) Tj ET Q q 0 0 0 rg BT 452.22 159.25 Td (our ) Tj ET Q q 0 0 0 rg BT 468.06 159.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 517.24 159.25 Td (leases ) Tj ET Q q 0 0 0 rg BT 543.63 159.25 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 147.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 74.61 147.25 Td (up ) Tj ET Q q 0 0 0 rg BT 87.50 147.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 98.17 147.25 Td (14 ) Tj ET Q q 0 0 0 rg BT 111.07 147.25 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 132.17 147.25 Td (.��) Tj ET Q q 0 0 0 rg BT 139.49 147.25 Td (W) Tj ET Q q 0 0 0 rg BT 148.12 147.25 Td (e ) Tj ET Q q 0 0 0 rg BT 155.45 147.25 Td (have ) Tj ET Q q 0 0 0 rg BT 177.22 147.25 Td (subleased ) Tj ET Q q 0 0 0 rg BT 218.99 147.25 Td (part ) Tj ET Q q 0 0 0 rg BT 237.43 147.25 Td (of ) Tj ET Q q 0 0 0 rg BT 248.66 147.25 Td (the ) Tj ET Q q 0 0 0 rg BT 263.77 147.25 Td (of) Tj ET Q q 0 0 0 rg BT 271.92 147.25 Td (fice ) Tj ET Q q 0 0 0 rg BT 289.80 147.25 Td (space ) Tj ET Q q 0 0 0 rg BT 314.90 147.25 Td (included ) Tj ET Q q 0 0 0 rg BT 352.22 147.25 Td (in ) Tj ET Q q 0 0 0 rg BT 362.89 147.25 Td (our ) Tj ET Q q 0 0 0 rg BT 379.12 147.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 419.77 147.25 Td (leases ) Tj ET Q q 0 0 0 rg BT 446.54 147.25 Td (for ) Tj ET Q q 0 0 0 rg BT 461.10 147.25 Td (which ) Tj ET Q q 0 0 0 rg BT 488.43 147.25 Td (we ) Tj ET Q q 0 0 0 rg BT 502.98 147.25 Td (received ) Tj ET Q q 0 0 0 rg BT 539.74 147.25 Td (rental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 135.25 Td (payments. ) Tj ET Q q 0 0 0 rg BT 91.58 135.25 Td ( ) Tj ET Q q 0 0 0 rg BT 92.74 135.25 Td (The ) Tj ET Q q 0 0 0 rg BT 109.55 135.25 Td (following ) Tj ET Q q 0 0 0 rg BT 149.69 135.25 Td (table ) Tj ET Q q 0 0 0 rg BT 170.38 135.25 Td (summarizes ) Tj ET Q q 0 0 0 rg BT 219.39 135.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 258.41 135.25 Td (lease ) Tj ET Q q 0 0 0 rg BT 279.65 135.25 Td (payments ) Tj ET Q q 0 0 0 rg BT 319.23 135.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 337.71 135.25 Td (and ) Tj ET Q q 0 0 0 rg BT 353.40 135.25 Td (sublease ) Tj ET Q q 0 0 0 rg BT 388.53 135.25 Td (rentals ) Tj ET Q q 0 0 0 rg BT 416.44 135.25 Td (received ) Tj ET Q q 0 0 0 rg BT 451.56 135.25 Td (during ) Tj ET Q q 0 0 0 rg BT 478.92 135.25 Td (the ) Tj ET Q q 0 0 0 rg BT 492.39 135.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 523.09 135.25 Td (indicated:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 94.75 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 94.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 94.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 94.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 94.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 94.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 94.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 109.75 m 425 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 425 109.75 m 429 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 109.75 m 494 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 109.75 m 498 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 109.75 m 563 109.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 94.75 m 356 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 94.75 m 425 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 94.75 m 494 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 94.75 m 563 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 94.75 m 425 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 94.75 m 494 94.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 94.75 m 563 94.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 114.42 Td (Y) Tj ET Q q 0 0 0 rg BT 415.17 114.42 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 99.46 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 99.42 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 99.42 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 99.42 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 84.42 Td (Operating lease payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 84.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 84.42 Td (25,448) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 84.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 84.42 Td (25,075) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 84.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 84.42 Td (22,744) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 69.42 Td (Sublease rental receipts) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 398.65 69.42 Td (2,224) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 467.65 69.42 Td (4,275) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 69.42 Td (3,074) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 189 0 obj <> endobj 190 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (94) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 701.10 Td (The ) Tj ET Q q 0 0 0 rg BT 85.42 701.10 Td (following ) Tj ET Q q 0 0 0 rg BT 126.68 701.10 Td (tables ) Tj ET Q q 0 0 0 rg BT 152.38 701.10 Td (summarize ) Tj ET Q q 0 0 0 rg BT 198.62 701.10 Td (by ) Tj ET Q q 0 0 0 rg BT 211.00 701.10 Td (year ) Tj ET Q q 0 0 0 rg BT 230.58 701.10 Td (the ) Tj ET Q q 0 0 0 rg BT 245.17 701.10 Td (remaining ) Tj ET Q q 0 0 0 rg BT 288.08 701.10 Td (non-cancelable ) Tj ET Q q 0 0 0 rg BT 350.97 701.10 Td (future ) Tj ET Q q 0 0 0 rg BT 377.22 701.10 Td (payments ) Tj ET Q q 0 0 0 rg BT 417.92 701.10 Td (under ) Tj ET Q q 0 0 0 rg BT 443.06 701.10 Td (our ) Tj ET Q q 0 0 0 rg BT 458.76 701.10 Td (leases ) Tj ET Q q 0 0 0 rg BT 485.01 701.10 Td (as ) Tj ET Q q 0 0 0 rg BT 495.72 701.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.42 701.10 Td (December�31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 689.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 689.10 Td (:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 643.60 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 643.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 643.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 613.60 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 613.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 613.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 583.60 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 583.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 583.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 553.60 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 553.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 553.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 523.60 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 523.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 523.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 643.6 m 494 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 643.6 m 563 643.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 553.6 m 563 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 553.6 m 563 553.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 523.6 m 563 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 523.6 m 563 523.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 509.6 m 563 509.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 507.6 m 563 507.6 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 648.31 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.60 668.27 Td (Pipeline) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 507.05 658.27 Td (and Capital) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.35 648.27 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 633.27 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 633.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 633.27 Td (32,369) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 618.27 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 618.27 Td (28,502) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 603.27 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 603.27 Td (26,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 588.27 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 588.27 Td (27,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 573.27 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 573.27 Td (27,899) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 558.27 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 558.27 Td (1) Tj ET Q q 0 0 0 rg BT 531.65 558.27 Td (13,439) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 543.27 Td (T) Tj ET Q q 0 0 0 rg BT 70.26 543.27 Td (otal minimum lease payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 543.27 Td (256,441) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 528.27 Td (Less: ) Tj ET Q q 0 0 0 rg BT 87.56 528.27 Td (Amount representing interest) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 528.32 Td (\(71,006) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 528.27 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 76.50 513.27 Td (Present value of minimum lease payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 513.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 513.27 Td (185,435) Tj ET Q BT /F1 10.00 Tf ET 0.8 0.8 0.8 rg /GS0 gs 50.00 451.60 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 451.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 451.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 421.60 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 421.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 421.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 391.60 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 391.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 391.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 361.60 444.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 361.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 361.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 451.6 m 494 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 451.6 m 563 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 451.6 m 494 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 451.6 m 563 451.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 361.6 m 563 361.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 347.6 m 563 347.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 345.6 m 563 345.6 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 456.31 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 510.00 466.27 Td (Operating) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 516.35 456.27 Td (Leases) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 441.27 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 441.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 441.27 Td (10,690) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 426.27 Td (2020) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 536.65 426.27 Td (9,776) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 411.27 Td (2021) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 411.27 Td (10,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 396.27 Td (2022) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 396.27 Td (10,223) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 381.27 Td (2023) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 381.27 Td (10,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 366.27 Td (Thereafter) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 366.27 Td (18,169) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 351.27 Td (T) Tj ET Q q 0 0 0 rg BT 69.91 351.27 Td (otal minimum lease payments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 351.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 351.27 Td (69,127) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 323.10 Td (In addition, we expect to receive approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.76 323.10 Td ($8.1 million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 309.65 323.10 Td ( for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 326.31 323.10 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.31 323.10 Td ( through 2021 under our sublease agreements.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 299.10 Td (Commitments) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 275.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 275.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.72 275.10 Td (have ) Tj ET Q q 0 0 0 rg BT 105.74 275.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 138.30 275.10 Td (into ) Tj ET Q q 0 0 0 rg BT 157.00 275.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 199.57 275.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 257.15 275.10 Td (to ) Tj ET Q q 0 0 0 rg BT 268.07 275.10 Td (purchase ) Tj ET Q q 0 0 0 rg BT 306.75 275.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 320.64 273.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.89 275.10 Td (�that ) Tj ET Q q 0 0 0 rg BT 344.53 275.10 Td (are ) Tj ET Q q 0 0 0 rg BT 359.88 275.10 Td (either ) Tj ET Q q 0 0 0 rg BT 385.78 275.10 Td (non-cancelable ) Tj ET Q q 0 0 0 rg BT 449.44 275.10 Td (or ) Tj ET Q q 0 0 0 rg BT 460.91 275.10 Td (cancelable ) Tj ET Q q 0 0 0 rg BT 506.24 275.10 Td (only ) Tj ET Q q 0 0 0 rg BT 527.16 275.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 550.30 275.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 263.10 Td (occurrence ) Tj ET Q q 0 0 0 rg BT 96.55 263.10 Td (of ) Tj ET Q q 0 0 0 rg BT 108.07 263.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 147.36 263.10 Td (future ) Tj ET Q q 0 0 0 rg BT 174.44 263.10 Td (events.��) Tj ET Q q 0 0 0 rg BT 207.30 263.10 Td (The ) Tj ET Q q 0 0 0 rg BT 226.05 263.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 283.68 263.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 321.31 263.10 Td (for ) Tj ET Q q 0 0 0 rg BT 336.17 263.10 Td (up ) Tj ET Q q 0 0 0 rg BT 349.36 263.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 360.33 263.10 Td (9 ) Tj ET Q q 0 0 0 rg BT 368.53 263.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.63 263.10 Td (.��) Tj ET Q q 0 0 0 rg BT 396.95 263.10 Td (The ) Tj ET Q q 0 0 0 rg BT 415.69 263.10 Td (price ) Tj ET Q q 0 0 0 rg BT 438.87 263.10 Td (we ) Tj ET Q q 0 0 0 rg BT 453.73 263.10 Td (will ) Tj ET Q q 0 0 0 rg BT 472.48 263.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 490.12 263.10 Td (for ) Tj ET Q q 0 0 0 rg BT 504.97 263.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 518.86 261.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.11 263.10 Td ( ) Tj ET Q q 0 0 0 rg BT 525.31 263.10 Td (generally ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 251.10 Td (varies ) Tj ET Q q 0 0 0 rg BT 76.95 251.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 122.18 251.10 Td (on ) Tj ET Q q 0 0 0 rg BT 135.76 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 151.55 251.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 185.12 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 197.03 251.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 210.92 249.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 214.17 251.10 Td ( ) Tj ET Q q 0 0 0 rg BT 217.75 251.10 Td (delivered ) Tj ET Q q 0 0 0 rg BT 258.52 251.10 Td (and ) Tj ET Q q 0 0 0 rg BT 276.54 251.10 Td (the ) Tj ET Q q 0 0 0 rg BT 292.33 251.10 Td (price ) Tj ET Q q 0 0 0 rg BT 315.89 251.10 Td (of ) Tj ET Q q 0 0 0 rg BT 327.80 251.10 Td (oil.��Once ) Tj ET Q q 0 0 0 rg BT 370.53 251.10 Td (all ) Tj ET Q q 0 0 0 rg BT 384.10 251.10 Td (commitments ) Tj ET Q q 0 0 0 rg BT 442.11 251.10 Td (have ) Tj ET Q q 0 0 0 rg BT 464.56 251.10 Td (commenced, ) Tj ET Q q 0 0 0 rg BT 518.95 251.10 Td (our ) Tj ET Q q 0 0 0 rg BT 535.86 251.10 Td (annual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 239.10 Td (commitment ) Tj ET Q q 0 0 0 rg BT 103.04 239.10 Td (under ) Tj ET Q q 0 0 0 rg BT 128.80 239.10 Td (these ) Tj ET Q q 0 0 0 rg BT 152.35 239.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 191.43 239.10 Td (could ) Tj ET Q q 0 0 0 rg BT 216.65 239.10 Td (range ) Tj ET Q q 0 0 0 rg BT 241.85 239.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 264.28 239.10 Td ($14 ) Tj ET Q q 0 0 0 rg BT 282.28 239.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 311.17 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 314.16 239.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 324.93 239.10 Td ($33 ) Tj ET Q q 0 0 0 rg BT 342.93 239.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 371.82 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 374.82 239.10 Td (per ) Tj ET Q q 0 0 0 rg BT 390.58 239.10 Td (year) Tj ET Q q 0 0 0 rg BT 407.39 239.10 Td (, ) Tj ET Q q 0 0 0 rg BT 412.88 239.10 Td (assuming ) Tj ET Q q 0 0 0 rg BT 453.65 239.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.09 239.10 Td ($60) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.09 239.10 Td ( ) Tj ET Q q 0 0 0 rg BT 479.08 239.10 Td (per ) Tj ET Q q 0 0 0 rg BT 494.84 239.10 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 512.29 239.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 551.95 239.10 Td (oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 227.10 Td (price.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 203.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 203.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.56 203.10 Td (are ) Tj ET Q q 0 0 0 rg BT 96.76 203.10 Td (party ) Tj ET Q q 0 0 0 rg BT 119.29 203.10 Td (to ) Tj ET Q q 0 0 0 rg BT 129.06 203.10 Td (long-term ) Tj ET Q q 0 0 0 rg BT 170.48 203.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 208.56 203.10 Td (that ) Tj ET Q q 0 0 0 rg BT 225.54 203.10 Td (require ) Tj ET Q q 0 0 0 rg BT 255.84 203.10 Td (us ) Tj ET Q q 0 0 0 rg BT 266.72 203.10 Td (to ) Tj ET Q q 0 0 0 rg BT 276.49 203.10 Td (deliver ) Tj ET Q q 0 0 0 rg BT 306.24 203.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 320.13 201.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.38 203.10 Td ( ) Tj ET Q q 0 0 0 rg BT 325.37 203.10 Td (to ) Tj ET Q q 0 0 0 rg BT 335.13 203.10 Td (our ) Tj ET Q q 0 0 0 rg BT 350.45 203.10 Td (industrial ) Tj ET Q q 0 0 0 rg BT 390.21 203.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 404.10 201.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.35 203.10 Td ( ) Tj ET Q q 0 0 0 rg BT 409.34 203.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 451.88 203.10 Td (at ) Tj ET Q q 0 0 0 rg BT 461.08 203.10 Td (various ) Tj ET Q q 0 0 0 rg BT 492.50 203.10 Td (contracted ) Tj ET Q q 0 0 0 rg BT 536.13 203.10 Td (prices, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 191.10 Td (plus ) Tj ET Q q 0 0 0 rg BT 68.71 191.10 Td (we ) Tj ET Q q 0 0 0 rg BT 82.91 191.10 Td (have ) Tj ET Q q 0 0 0 rg BT 104.32 191.10 Td (a ) Tj ET Q q 0 0 0 rg BT 111.30 191.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 125.19 189.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 128.44 191.10 Td ( ) Tj ET Q q 0 0 0 rg BT 130.98 191.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 166.28 191.10 Td (obligation ) Tj ET Q q 0 0 0 rg BT 209.38 191.10 Td (to ) Tj ET Q q 0 0 0 rg BT 219.69 191.10 Td (Genesis ) Tj ET Q q 0 0 0 rg BT 253.89 191.10 Td (related ) Tj ET Q q 0 0 0 rg BT 283.63 191.10 Td (to ) Tj ET Q q 0 0 0 rg BT 293.95 191.10 Td (one ) Tj ET Q q 0 0 0 rg BT 310.93 191.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 324.82 189.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 328.07 191.10 Td ( ) Tj ET Q q 0 0 0 rg BT 330.61 191.10 Td (volumetric ) Tj ET Q q 0 0 0 rg BT 376.47 191.10 Td (production ) Tj ET Q q 0 0 0 rg BT 422.33 191.10 Td (payment ) Tj ET Q q 0 0 0 rg BT 459.30 191.10 Td (\(�VPP�\). ) Tj ET Q q 0 0 0 rg BT 498.23 191.10 Td ( ) Tj ET Q q 0 0 0 rg BT 500.76 191.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 527.74 191.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 550.28 191.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 179.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 92.62 179.10 Td (amounts ) Tj ET Q q 0 0 0 rg BT 129.08 179.10 Td (deliverable ) Tj ET Q q 0 0 0 rg BT 176.07 179.10 Td (as ) Tj ET Q q 0 0 0 rg BT 186.97 179.10 Td (stated ) Tj ET Q q 0 0 0 rg BT 212.86 179.10 Td (in ) Tj ET Q q 0 0 0 rg BT 223.21 179.10 Td (the ) Tj ET Q q 0 0 0 rg BT 238.00 179.10 Td (industrial ) Tj ET Q q 0 0 0 rg BT 278.34 179.10 Td (contracts ) Tj ET Q q 0 0 0 rg BT 317.00 179.10 Td (and ) Tj ET Q q 0 0 0 rg BT 334.01 179.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.61 179.10 Td (VPP) Tj ET Q q 0 0 0 rg BT 365.85 179.10 Td (, ) Tj ET Q q 0 0 0 rg BT 370.92 179.10 Td (we ) Tj ET Q q 0 0 0 rg BT 385.15 179.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 421.04 179.10 Td (that ) Tj ET Q q 0 0 0 rg BT 438.60 179.10 Td (we ) Tj ET Q q 0 0 0 rg BT 452.83 179.10 Td (may ) Tj ET Q q 0 0 0 rg BT 472.62 179.10 Td (be ) Tj ET Q q 0 0 0 rg BT 484.63 179.10 Td (obligated ) Tj ET Q q 0 0 0 rg BT 524.41 179.10 Td (to ) Tj ET Q q 0 0 0 rg BT 534.76 179.10 Td (deliver ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 167.10 Td (up ) Tj ET Q q 0 0 0 rg BT 61.39 167.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 71.05 167.10 Td (853) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 86.05 167.10 Td ( ) Tj ET Q q 0 0 0 rg BT 87.94 167.10 Td (Bcf ) Tj ET Q q 0 0 0 rg BT 104.27 167.10 Td (of ) Tj ET Q q 0 0 0 rg BT 114.48 167.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 128.37 165.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 131.62 167.10 Td ( ) Tj ET Q q 0 0 0 rg BT 133.51 167.10 Td (to ) Tj ET Q q 0 0 0 rg BT 143.18 167.10 Td (these ) Tj ET Q q 0 0 0 rg BT 165.61 167.10 Td (customers ) Tj ET Q q 0 0 0 rg BT 208.04 167.10 Td (over ) Tj ET Q q 0 0 0 rg BT 227.70 167.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.80 167.10 Td (next ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 260.91 167.10 Td (16 ) Tj ET Q q 0 0 0 rg BT 272.80 167.10 Td (years) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 293.89 167.10 Td (. ) Tj ET Q q 0 0 0 rg BT 298.28 167.10 Td ( ) Tj ET Q q 0 0 0 rg BT 300.03 167.10 Td (The ) Tj ET Q q 0 0 0 rg BT 317.47 167.10 Td (maximum ) Tj ET Q q 0 0 0 rg BT 359.91 167.10 Td (volume ) Tj ET Q q 0 0 0 rg BT 391.79 167.10 Td (required ) Tj ET Q q 0 0 0 rg BT 426.99 167.10 Td (in ) Tj ET Q q 0 0 0 rg BT 436.66 167.10 Td (any ) Tj ET Q q 0 0 0 rg BT 452.98 167.10 Td (given ) Tj ET Q q 0 0 0 rg BT 477.09 167.10 Td (year ) Tj ET Q q 0 0 0 rg BT 496.18 167.10 Td (is ) Tj ET Q q 0 0 0 rg BT 504.74 167.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 155.10 Td (254) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 155.10 Td ( ) Tj ET Q q 0 0 0 rg BT 67.27 155.10 Td (MMcf/d, ) Tj ET Q q 0 0 0 rg BT 105.88 155.10 Td (which ) Tj ET Q q 0 0 0 rg BT 133.09 155.10 Td (we ) Tj ET Q q 0 0 0 rg BT 147.52 155.10 Td (judge ) Tj ET Q q 0 0 0 rg BT 172.51 155.10 Td (to ) Tj ET Q q 0 0 0 rg BT 183.06 155.10 Td (be ) Tj ET Q q 0 0 0 rg BT 195.27 155.10 Td (minor ) Tj ET Q q 0 0 0 rg BT 221.93 155.10 Td (given ) Tj ET Q q 0 0 0 rg BT 246.92 155.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.91 155.10 Td (size ) Tj ET Q q 0 0 0 rg BT 280.23 155.10 Td (of ) Tj ET Q q 0 0 0 rg BT 291.33 155.10 Td (our ) Tj ET Q q 0 0 0 rg BT 307.43 155.10 Td (Jackson ) Tj ET Q q 0 0 0 rg BT 341.86 155.10 Td (Dome ) Tj ET Q q 0 0 0 rg BT 369.08 155.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 399.62 155.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 413.51 153.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 416.76 155.10 Td ( ) Tj ET Q q 0 0 0 rg BT 419.53 155.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 455.06 155.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.05 155.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 523.91 155.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.91 155.10 Td (, ) Tj ET Q q 0 0 0 rg BT 549.18 155.10 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 143.10 Td (current ) Tj ET Q q 0 0 0 rg BT 80.32 143.10 Td (production ) Tj ET Q q 0 0 0 rg BT 126.14 143.10 Td (capabilities ) Tj ET Q q 0 0 0 rg BT 174.18 143.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.12 143.10 Td (our ) Tj ET Q q 0 0 0 rg BT 206.95 143.10 Td (projected ) Tj ET Q q 0 0 0 rg BT 246.65 143.10 Td (levels ) Tj ET Q q 0 0 0 rg BT 272.47 143.10 Td (of ) Tj ET Q q 0 0 0 rg BT 283.30 143.10 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 297.20 141.67 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 300.44 143.10 Td ( ) Tj ET Q q 0 0 0 rg BT 302.94 143.10 Td (usage ) Tj ET Q q 0 0 0 rg BT 328.21 143.10 Td (for ) Tj ET Q q 0 0 0 rg BT 342.37 143.10 Td (our ) Tj ET Q q 0 0 0 rg BT 358.20 143.10 Td (own ) Tj ET Q q 0 0 0 rg BT 377.93 143.10 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 409.30 143.10 Td (flooding ) Tj ET Q q 0 0 0 rg BT 445.68 143.10 Td (program.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 119.10 Td (Litigation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 95.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 95.10 Td (e ) Tj ET Q q 0 0 0 rg BT 84.08 95.10 Td (are ) Tj ET Q q 0 0 0 rg BT 99.79 95.10 Td (involved ) Tj ET Q q 0 0 0 rg BT 138.28 95.10 Td (in ) Tj ET Q q 0 0 0 rg BT 149.56 95.10 Td (various ) Tj ET Q q 0 0 0 rg BT 182.50 95.10 Td (lawsuits, ) Tj ET Q q 0 0 0 rg BT 221.28 95.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 250.88 95.10 Td (and ) Tj ET Q q 0 0 0 rg BT 268.82 95.10 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 313.42 95.10 Td (proceedings ) Tj ET Q q 0 0 0 rg BT 365.23 95.10 Td (incidental ) Tj ET Q q 0 0 0 rg BT 408.16 95.10 Td (to ) Tj ET Q q 0 0 0 rg BT 419.44 95.10 Td (our ) Tj ET Q q 0 0 0 rg BT 436.27 95.10 Td (businesses.�) Tj ET Q q 0 0 0 rg BT 483.32 95.10 Td (While ) Tj ET Q q 0 0 0 rg BT 511.25 95.10 Td (we ) Tj ET Q q 0 0 0 rg BT 526.41 95.10 Td (currently ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 83.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 80.92 83.10 Td (that ) Tj ET Q q 0 0 0 rg BT 98.46 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 113.22 83.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 148.54 83.10 Td (outcome ) Tj ET Q q 0 0 0 rg BT 185.52 83.10 Td (of ) Tj ET Q q 0 0 0 rg BT 196.39 83.10 Td (these ) Tj ET Q q 0 0 0 rg BT 219.49 83.10 Td (proceedings, ) Tj ET Q q 0 0 0 rg BT 272.85 83.10 Td (individually ) Tj ET Q q 0 0 0 rg BT 323.73 83.10 Td (and ) Tj ET Q q 0 0 0 rg BT 340.71 83.10 Td (in ) Tj ET Q q 0 0 0 rg BT 351.04 83.10 Td (the ) Tj ET Q q 0 0 0 rg BT 365.80 83.10 Td (aggregate, ) Tj ET Q q 0 0 0 rg BT 409.71 83.10 Td (will ) Tj ET Q q 0 0 0 rg BT 427.81 83.10 Td (not ) Tj ET Q q 0 0 0 rg BT 443.14 83.10 Td (have ) Tj ET Q q 0 0 0 rg BT 464.56 83.10 Td (a ) Tj ET Q q 0 0 0 rg BT 471.54 83.10 Td (material ) Tj ET Q q 0 0 0 rg BT 506.85 83.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 539.93 83.10 Td (ef) Tj ET Q q 0 0 0 rg BT 547.52 83.10 Td (fect ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 71.10 Td (on ) Tj ET Q q 0 0 0 rg BT 62.18 71.10 Td (our ) Tj ET Q q 0 0 0 rg BT 78.20 71.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 115.86 71.10 Td (position, ) Tj ET Q q 0 0 0 rg BT 153.27 71.10 Td (results ) Tj ET Q q 0 0 0 rg BT 182.06 71.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.07 71.10 Td (operations ) Tj ET Q q 0 0 0 rg BT 237.41 71.10 Td (or ) Tj ET Q q 0 0 0 rg BT 248.43 71.10 Td (cash ) Tj ET Q q 0 0 0 rg BT 268.88 71.10 Td (flows, ) Tj ET Q q 0 0 0 rg BT 296.28 71.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 335.07 71.10 Td (is ) Tj ET Q q 0 0 0 rg BT 344.43 71.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 375.44 71.10 Td (to ) Tj ET Q q 0 0 0 rg BT 385.90 71.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 421.34 71.10 Td (uncertainties.��) Tj ET Q q 0 0 0 rg BT 479.75 71.10 Td (W) Tj ET Q q 0 0 0 rg BT 488.39 71.10 Td (e ) Tj ET Q q 0 0 0 rg BT 495.51 71.10 Td (accrue ) Tj ET Q q 0 0 0 rg BT 524.28 71.10 Td (for ) Tj ET Q q 0 0 0 rg BT 538.62 71.10 Td (losses ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 59.10 Td (from ) Tj ET Q q 0 0 0 rg BT 71.44 59.10 Td (litigation ) Tj ET Q q 0 0 0 rg BT 110.05 59.10 Td (and ) Tj ET Q q 0 0 0 rg BT 126.99 59.10 Td (claims ) Tj ET Q q 0 0 0 rg BT 155.59 59.10 Td (if ) Tj ET Q q 0 0 0 rg BT 164.20 59.10 Td (we ) Tj ET Q q 0 0 0 rg BT 178.36 59.10 Td (determine ) Tj ET Q q 0 0 0 rg BT 220.84 59.10 Td (that ) Tj ET Q q 0 0 0 rg BT 238.33 59.10 Td (a ) Tj ET Q q 0 0 0 rg BT 245.27 59.10 Td (loss ) Tj ET Q q 0 0 0 rg BT 263.33 59.10 Td (is ) Tj ET Q q 0 0 0 rg BT 272.50 59.10 Td (probable ) Tj ET Q q 0 0 0 rg BT 309.99 59.10 Td (and ) Tj ET Q q 0 0 0 rg BT 326.93 59.10 Td (the ) Tj ET Q q 0 0 0 rg BT 341.64 59.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 374.14 59.10 Td (can ) Tj ET Q q 0 0 0 rg BT 390.52 59.10 Td (be ) Tj ET Q q 0 0 0 rg BT 402.45 59.10 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 448.27 59.10 Td (estimated.) Tj ET Q endstream endobj 191 0 obj <> endobj 192 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 215.70 736.60 Td (Notes to Consolidated Financial Statements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (95) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 701.10 Td (Riley ) Tj ET Q q 0 0 0 rg BT 72.54 701.10 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 98.37 701.10 Td (Helium ) Tj ET Q q 0 0 0 rg BT 130.31 701.10 Td (Supply ) Tj ET Q q 0 0 0 rg BT 160.02 701.10 Td (Contract ) Tj ET Q q 0 0 0 rg BT 198.08 701.10 Td (Claim) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 677.10 Td (As ) Tj ET Q q 0 0 0 rg BT 82.00 677.10 Td (part ) Tj ET Q q 0 0 0 rg BT 100.93 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 112.65 677.10 Td (our ) Tj ET Q q 0 0 0 rg BT 129.36 677.10 Td (2010 ) Tj ET Q q 0 0 0 rg BT 152.75 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 170.57 677.10 Td (201) Tj ET Q q 0 0 0 rg BT 185.20 677.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 193.58 677.10 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 244.74 677.10 Td (of ) Tj ET Q q 0 0 0 rg BT 256.46 677.10 Td (the ) Tj ET Q q 0 0 0 rg BT 272.06 677.10 Td (Riley ) Tj ET Q q 0 0 0 rg BT 297.11 677.10 Td (Ridge ) Tj ET Q q 0 0 0 rg BT 324.38 677.10 Td (Unit ) Tj ET Q q 0 0 0 rg BT 345.55 677.10 Td (and ) Tj ET Q q 0 0 0 rg BT 363.37 677.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 407.85 677.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 424.56 677.10 Td (processing ) Tj ET Q q 0 0 0 rg BT 470.72 677.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 502.42 677.10 Td (that ) Tj ET Q q 0 0 0 rg BT 520.80 677.10 Td (was ) Tj ET Q q 0 0 0 rg BT 539.74 677.10 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 665.10 Td (construction, ) Tj ET Q q 0 0 0 rg BT 103.48 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.74 665.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 158.66 665.10 Td (assumed ) Tj ET Q q 0 0 0 rg BT 195.15 665.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 201.63 665.10 Td (20) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.63 665.10 Td (-year ) Tj ET Q q 0 0 0 rg BT 234.21 665.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 264.02 665.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 292.73 665.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 326.98 665.10 Td (under ) Tj ET Q q 0 0 0 rg BT 351.79 665.10 Td (which ) Tj ET Q q 0 0 0 rg BT 378.27 665.10 Td (we ) Tj ET Q q 0 0 0 rg BT 391.97 665.10 Td (agreed ) Tj ET Q q 0 0 0 rg BT 420.66 665.10 Td (to ) Tj ET Q q 0 0 0 rg BT 430.48 665.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 459.19 665.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.45 665.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 503.27 665.10 Td (separated ) Tj ET Q q 0 0 0 rg BT 543.07 665.10 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.69 653.10 Td (full ) Tj ET Q q 0 0 0 rg BT 79.55 653.10 Td (well ) Tj ET Q q 0 0 0 rg BT 98.74 653.10 Td (stream ) Tj ET Q q 0 0 0 rg BT 127.36 653.10 Td (by ) Tj ET Q q 0 0 0 rg BT 139.33 653.10 Td (operation ) Tj ET Q q 0 0 0 rg BT 179.07 653.10 Td (of ) Tj ET Q q 0 0 0 rg BT 189.37 653.10 Td (the ) Tj ET Q q 0 0 0 rg BT 203.56 653.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 218.86 653.10 Td (processing ) Tj ET Q q 0 0 0 rg BT 263.60 653.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 293.89 653.10 Td (to ) Tj ET Q q 0 0 0 rg BT 303.64 653.10 Td (a ) Tj ET Q q 0 0 0 rg BT 310.05 653.10 Td (third-party ) Tj ET Q q 0 0 0 rg BT 354.79 653.10 Td (purchaser) Tj ET Q q 0 0 0 rg BT 393.26 653.10 Td (, ) Tj ET Q q 0 0 0 rg BT 397.29 653.10 Td (APMTG ) Tj ET Q q 0 0 0 rg BT 434.27 653.10 Td (Helium, ) Tj ET Q q 0 0 0 rg BT 468.74 653.10 Td (LLC ) Tj ET Q q 0 0 0 rg BT 489.59 653.10 Td (\(�APMTG�\).� ) Tj ET Q q 0 0 0 rg BT 546.96 653.10 Td (The ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 641.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 79.67 641.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 108.74 641.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 143.34 641.10 Td (provides ) Tj ET Q q 0 0 0 rg BT 180.17 641.10 Td (for ) Tj ET Q q 0 0 0 rg BT 194.23 641.10 Td (the ) Tj ET Q q 0 0 0 rg BT 208.85 641.10 Td (delivery ) Tj ET Q q 0 0 0 rg BT 244.01 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 254.73 641.10 Td (a ) Tj ET Q q 0 0 0 rg BT 261.57 641.10 Td (minimum ) Tj ET Q q 0 0 0 rg BT 302.86 641.10 Td (contracted ) Tj ET Q q 0 0 0 rg BT 346.90 641.10 Td (quantity ) Tj ET Q q 0 0 0 rg BT 382.07 641.10 Td (of ) Tj ET Q q 0 0 0 rg BT 392.80 641.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 422.97 641.10 Td (with ) Tj ET Q q 0 0 0 rg BT 443.14 641.10 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 485.53 641.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 522.91 641.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 556.40 641.10 Td (if ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 629.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 87.80 629.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 128.89 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 139.43 629.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 169.42 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 183.83 629.10 Td (not ) Tj ET Q q 0 0 0 rg BT 198.82 629.10 Td (supplied ) Tj ET Q q 0 0 0 rg BT 234.92 629.10 Td (in ) Tj ET Q q 0 0 0 rg BT 244.91 629.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 292.08 629.10 Td (with ) Tj ET Q q 0 0 0 rg BT 312.06 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 326.49 629.10 Td (terms ) Tj ET Q q 0 0 0 rg BT 350.92 629.10 Td (of ) Tj ET Q q 0 0 0 rg BT 361.46 629.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.88 629.10 Td (contract. ) Tj ET Q q 0 0 0 rg BT 412.79 629.10 Td ( ) Tj ET Q q 0 0 0 rg BT 414.84 629.10 Td (The ) Tj ET Q q 0 0 0 rg BT 432.60 629.10 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 474.80 629.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 511.99 629.10 Td (are ) Tj ET Q q 0 0 0 rg BT 526.41 629.10 Td (specified ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 617.10 Td (in ) Tj ET Q q 0 0 0 rg BT 59.42 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 73.78 617.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 108.12 617.10 Td (at ) Tj ET Q q 0 0 0 rg BT 117.47 617.10 Td (up ) Tj ET Q q 0 0 0 rg BT 129.61 617.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.53 617.10 Td ($8.0 ) Tj ET Q q 0 0 0 rg BT 159.17 617.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 188.06 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 190.21 617.10 Td (per ) Tj ET Q q 0 0 0 rg BT 205.11 617.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 239.46 617.10 Td (year ) Tj ET Q q 0 0 0 rg BT 258.80 617.10 Td (and ) Tj ET Q q 0 0 0 rg BT 275.38 617.10 Td (are ) Tj ET Q q 0 0 0 rg BT 289.73 617.10 Td (capped ) Tj ET Q q 0 0 0 rg BT 320.18 617.10 Td (at ) Tj ET Q q 0 0 0 rg BT 329.54 617.10 Td (an ) Tj ET Q q 0 0 0 rg BT 341.12 617.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 382.12 617.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.59 617.10 Td ($46.0 ) Tj ET Q q 0 0 0 rg BT 417.23 617.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 446.12 617.10 Td ( ) Tj ET Q q 0 0 0 rg BT 448.26 617.10 Td (over ) Tj ET Q q 0 0 0 rg BT 468.17 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 482.53 617.10 Td (term ) Tj ET Q q 0 0 0 rg BT 503.00 617.10 Td (of ) Tj ET Q q 0 0 0 rg BT 513.47 617.10 Td (the ) Tj ET Q q 0 0 0 rg BT 527.82 617.10 Td (contract. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 593.10 Td (As ) Tj ET Q q 0 0 0 rg BT 81.33 593.10 Td (the ) Tj ET Q q 0 0 0 rg BT 96.26 593.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 112.30 593.10 Td (processing ) Tj ET Q q 0 0 0 rg BT 157.79 593.10 Td (facility ) Tj ET Q q 0 0 0 rg BT 188.82 593.10 Td (has ) Tj ET Q q 0 0 0 rg BT 204.87 593.10 Td (been ) Tj ET Q q 0 0 0 rg BT 226.46 593.10 Td (shut-in ) Tj ET Q q 0 0 0 rg BT 256.95 593.10 Td (since ) Tj ET Q q 0 0 0 rg BT 280.21 593.10 Td (mid-2014 ) Tj ET Q q 0 0 0 rg BT 321.82 593.10 Td (due ) Tj ET Q q 0 0 0 rg BT 338.97 593.10 Td (to ) Tj ET Q q 0 0 0 rg BT 349.46 593.10 Td (significant ) Tj ET Q q 0 0 0 rg BT 394.39 593.10 Td (technical ) Tj ET Q q 0 0 0 rg BT 433.19 593.10 Td (issues, ) Tj ET Q q 0 0 0 rg BT 462.30 593.10 Td (we ) Tj ET Q q 0 0 0 rg BT 476.67 593.10 Td (have ) Tj ET Q q 0 0 0 rg BT 498.27 593.10 Td (not ) Tj ET Q q 0 0 0 rg BT 513.76 593.10 Td (been ) Tj ET Q q 0 0 0 rg BT 535.35 593.10 Td (able ) Tj ET Q q 0 0 0 rg BT 554.72 593.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 581.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 78.35 581.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 108.31 581.10 Td (under ) Tj ET Q q 0 0 0 rg BT 133.27 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 147.67 581.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 177.63 581.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 206.48 581.10 Td (contract.� ) Tj ET Q q 0 0 0 rg BT 245.87 581.10 Td (In ) Tj ET Q q 0 0 0 rg BT 256.38 581.10 Td (a ) Tj ET Q q 0 0 0 rg BT 263.01 581.10 Td (case ) Tj ET Q q 0 0 0 rg BT 282.40 581.10 Td (filed ) Tj ET Q q 0 0 0 rg BT 302.91 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 312.87 581.10 Td (November ) Tj ET Q q 0 0 0 rg BT 357.27 581.10 Td (2014 ) Tj ET Q q 0 0 0 rg BT 379.45 581.10 Td (in ) Tj ET Q q 0 0 0 rg BT 389.41 581.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.82 581.10 Td (Ninth ) Tj ET Q q 0 0 0 rg BT 428.78 581.10 Td (Judicial ) Tj ET Q q 0 0 0 rg BT 462.07 581.10 Td (District ) Tj ET Q q 0 0 0 rg BT 494.25 581.10 Td (Court ) Tj ET Q q 0 0 0 rg BT 519.21 581.10 Td (of ) Tj ET Q q 0 0 0 rg BT 529.73 581.10 Td (Sublette ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 569.10 Td (County) Tj ET Q q 0 0 0 rg BT 78.30 569.10 Td (, ) Tj ET Q q 0 0 0 rg BT 82.90 569.10 Td (W) Tj ET Q q 0 0 0 rg BT 91.73 569.10 Td (yoming, ) Tj ET Q q 0 0 0 rg BT 126.55 569.10 Td (APMTG ) Tj ET Q q 0 0 0 rg BT 163.81 569.10 Td (claimed ) Tj ET Q q 0 0 0 rg BT 197.73 569.10 Td (multiple ) Tj ET Q q 0 0 0 rg BT 233.31 569.10 Td (years ) Tj ET Q q 0 0 0 rg BT 256.67 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 267.26 569.10 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 309.51 569.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 346.76 569.10 Td (for ) Tj ET Q q 0 0 0 rg BT 360.68 569.10 Td (non-delivery ) Tj ET Q q 0 0 0 rg BT 414.03 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 424.62 569.10 Td (volumes ) Tj ET Q q 0 0 0 rg BT 460.77 569.10 Td (of ) Tj ET Q q 0 0 0 rg BT 471.36 569.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 501.39 569.10 Td (specified ) Tj ET Q q 0 0 0 rg BT 539.74 569.10 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 557.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.45 557.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 94.96 557.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 124.37 557.10 Td (contract. ) Tj ET Q q 0 0 0 rg BT 161.81 557.10 Td ( ) Tj ET Q q 0 0 0 rg BT 164.34 557.10 Td (The ) Tj ET Q q 0 0 0 rg BT 182.63 557.10 Td (Company�) Tj ET Q q 0 0 0 rg BT 224.29 557.10 Td (s ) Tj ET Q q 0 0 0 rg BT 230.92 557.10 Td (position ) Tj ET Q q 0 0 0 rg BT 265.88 557.10 Td (is ) Tj ET Q q 0 0 0 rg BT 275.29 557.10 Td (that ) Tj ET Q q 0 0 0 rg BT 293.02 557.10 Td (our ) Tj ET Q q 0 0 0 rg BT 309.08 557.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 356.24 557.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 403.42 557.10 Td (are ) Tj ET Q q 0 0 0 rg BT 418.36 557.10 Td (excused ) Tj ET Q q 0 0 0 rg BT 453.30 557.10 Td (by ) Tj ET Q q 0 0 0 rg BT 466.04 557.10 Td (virtue ) Tj ET Q q 0 0 0 rg BT 492.10 557.10 Td (of ) Tj ET Q q 0 0 0 rg BT 503.17 557.10 Td (events ) Tj ET Q q 0 0 0 rg BT 531.45 557.10 Td (that ) Tj ET Q q 0 0 0 rg BT 549.18 557.10 Td (fall ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 545.10 Td (within ) Tj ET Q q 0 0 0 rg BT 77.56 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.27 545.10 Td (force ) Tj ET Q q 0 0 0 rg BT 115.31 545.10 Td (majeure ) Tj ET Q q 0 0 0 rg BT 150.01 545.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 194.18 545.10 Td (in ) Tj ET Q q 0 0 0 rg BT 204.46 545.10 Td (the ) Tj ET Q q 0 0 0 rg BT 219.18 545.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 249.45 545.10 Td (supply ) Tj ET Q q 0 0 0 rg BT 278.62 545.10 Td (contract. ) Tj ET Q q 0 0 0 rg BT 315.82 545.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 521.10 Td (On ) Tj ET Q q 0 0 0 rg BT 82.12 521.10 Td (January ) Tj ET Q q 0 0 0 rg BT 115.62 521.10 Td (21, ) Tj ET Q q 0 0 0 rg BT 130.52 521.10 Td (2019, ) Tj ET Q q 0 0 0 rg BT 155.43 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.04 521.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 211.33 521.10 Td (received ) Tj ET Q q 0 0 0 rg BT 247.60 521.10 Td (notice ) Tj ET Q q 0 0 0 rg BT 274.43 521.10 Td (of ) Tj ET Q q 0 0 0 rg BT 285.16 521.10 Td (the ) Tj ET Q q 0 0 0 rg BT 299.78 521.10 Td (trial ) Tj ET Q q 0 0 0 rg BT 318.29 521.10 Td (court�) Tj ET Q q 0 0 0 rg BT 341.61 521.10 Td (s ) Tj ET Q q 0 0 0 rg BT 347.90 521.10 Td (ruling ) Tj ET Q q 0 0 0 rg BT 374.19 521.10 Td (that ) Tj ET Q q 0 0 0 rg BT 391.59 521.10 Td (a ) Tj ET Q q 0 0 0 rg BT 398.43 521.10 Td (force ) Tj ET Q q 0 0 0 rg BT 421.37 521.10 Td (majeure ) Tj ET Q q 0 0 0 rg BT 455.97 521.10 Td (condition ) Tj ET Q q 0 0 0 rg BT 496.14 521.10 Td (did ) Tj ET Q q 0 0 0 rg BT 511.32 521.10 Td (exist, ) Tj ET Q q 0 0 0 rg BT 535.11 521.10 Td (but ) Tj ET Q q 0 0 0 rg BT 550.29 521.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (Company�) Tj ET Q q 0 0 0 rg BT 91.17 509.10 Td (s ) Tj ET Q q 0 0 0 rg BT 97.68 509.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 150.83 509.10 Td (was ) Tj ET Q q 0 0 0 rg BT 169.00 509.10 Td (only ) Tj ET Q q 0 0 0 rg BT 189.41 509.10 Td (excused ) Tj ET Q q 0 0 0 rg BT 224.24 509.10 Td (by ) Tj ET Q q 0 0 0 rg BT 236.86 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 251.70 509.10 Td (force ) Tj ET Q q 0 0 0 rg BT 274.87 509.10 Td (majeure ) Tj ET Q q 0 0 0 rg BT 309.69 509.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 353.99 509.10 Td (of ) Tj ET Q q 0 0 0 rg BT 364.94 509.10 Td (the ) Tj ET Q q 0 0 0 rg BT 379.78 509.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 414.61 509.10 Td (for ) Tj ET Q q 0 0 0 rg BT 428.89 509.10 Td (a ) Tj ET Q q 0 0 0 rg BT 435.96 509.10 Td (35-day ) Tj ET Q q 0 0 0 rg BT 466.35 509.10 Td (period ) Tj ET Q q 0 0 0 rg BT 494.52 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 504.92 509.10 Td (2014, ) Tj ET Q q 0 0 0 rg BT 530.05 509.10 Td (and ) Tj ET Q q 0 0 0 rg BT 547.11 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 558.07 509.10 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (result ) Tj ET Q q 0 0 0 rg BT 76.98 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 94.47 497.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 138.62 497.10 Td (should ) Tj ET Q q 0 0 0 rg BT 170.56 497.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 189.10 497.10 Td (APMTG ) Tj ET Q q 0 0 0 rg BT 229.37 497.10 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 274.63 497.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 314.88 497.10 Td (and ) Tj ET Q q 0 0 0 rg BT 334.59 497.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 369.29 497.10 Td (thereon ) Tj ET Q q 0 0 0 rg BT 404.54 497.10 Td (for ) Tj ET Q q 0 0 0 rg BT 421.47 497.10 Td (those ) Tj ET Q q 0 0 0 rg BT 447.84 497.10 Td (time ) Tj ET Q q 0 0 0 rg BT 470.89 497.10 Td (periods ) Tj ET Q q 0 0 0 rg BT 505.59 497.10 Td (from ) Tj ET Q q 0 0 0 rg BT 530.30 497.10 Td (contract ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (commencement ) Tj ET Q q 0 0 0 rg BT 115.13 485.10 Td (to ) Tj ET Q q 0 0 0 rg BT 125.23 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.76 485.10 Td (close ) Tj ET Q q 0 0 0 rg BT 162.63 485.10 Td (of ) Tj ET Q q 0 0 0 rg BT 173.28 485.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 211.13 485.10 Td (\(November ) Tj ET Q q 0 0 0 rg BT 258.99 485.10 Td (29, ) Tj ET Q q 0 0 0 rg BT 273.81 485.10 Td (2017\) ) Tj ET Q q 0 0 0 rg BT 299.46 485.10 Td (when ) Tj ET Q q 0 0 0 rg BT 323.45 485.10 Td (the ) Tj ET Q q 0 0 0 rg BT 337.98 485.10 Td (Company�) Tj ET Q q 0 0 0 rg BT 379.65 485.10 Td (s ) Tj ET Q q 0 0 0 rg BT 385.86 485.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 438.70 485.10 Td (was ) Tj ET Q q 0 0 0 rg BT 456.58 485.10 Td (not ) Tj ET Q q 0 0 0 rg BT 471.68 485.10 Td (excused ) Tj ET Q q 0 0 0 rg BT 506.20 485.10 Td (as ) Tj ET Q q 0 0 0 rg BT 516.85 485.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 554.72 485.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 473.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.35 473.10 Td (contract. ) Tj ET Q q 0 0 0 rg BT 101.69 473.10 Td ( ) Tj ET Q q 0 0 0 rg BT 104.14 473.10 Td (The ) Tj ET Q q 0 0 0 rg BT 122.32 473.10 Td (trial ) Tj ET Q q 0 0 0 rg BT 141.06 473.10 Td (court ) Tj ET Q q 0 0 0 rg BT 164.24 473.10 Td (has ) Tj ET Q q 0 0 0 rg BT 180.21 473.10 Td (not ) Tj ET Q q 0 0 0 rg BT 195.62 473.10 Td (yet ) Tj ET Q q 0 0 0 rg BT 210.47 473.10 Td (entered ) Tj ET Q q 0 0 0 rg BT 242.53 473.10 Td (a ) Tj ET Q q 0 0 0 rg BT 249.61 473.10 Td (final ) Tj ET Q q 0 0 0 rg BT 270.57 473.10 Td (judgment ) Tj ET Q q 0 0 0 rg BT 310.98 473.10 Td (based ) Tj ET Q q 0 0 0 rg BT 336.38 473.10 Td (upon ) Tj ET Q q 0 0 0 rg BT 359.02 473.10 Td (its ) Tj ET Q q 0 0 0 rg BT 371.10 473.10 Td (decision. ) Tj ET Q q 0 0 0 rg BT 409.56 473.10 Td ( ) Tj ET Q q 0 0 0 rg BT 412.01 473.10 Td (The ) Tj ET Q q 0 0 0 rg BT 430.19 473.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 471.71 473.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 510.44 473.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 550.29 473.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 461.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 96.81 461.10 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 139.70 461.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 177.57 461.10 Td (to ) Tj ET Q q 0 0 0 rg BT 188.25 461.10 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.58 461.10 Td ($31.8 ) Tj ET Q q 0 0 0 rg BT 225.97 461.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.86 461.10 Td (, ) Tj ET Q q 0 0 0 rg BT 260.25 461.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 312.57 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 327.68 461.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 360.57 461.10 Td (due ) Tj ET Q q 0 0 0 rg BT 377.90 461.10 Td (for ) Tj ET Q q 0 0 0 rg BT 392.45 461.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.56 461.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 442.66 461.10 Td (years ) Tj ET Q q 0 0 0 rg BT 466.65 461.10 Td (for ) Tj ET Q q 0 0 0 rg BT 481.20 461.10 Td (which ) Tj ET Q q 0 0 0 rg BT 508.54 461.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 546.96 461.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 449.10 Td (submitted ) Tj ET Q q 0 0 0 rg BT 92.02 449.10 Td (at ) Tj ET Q q 0 0 0 rg BT 102.32 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 117.62 449.10 Td (trial ) Tj ET Q q 0 0 0 rg BT 136.80 449.10 Td (ending ) Tj ET Q q 0 0 0 rg BT 167.10 449.10 Td (November ) Tj ET Q q 0 0 0 rg BT 212.39 449.10 Td (29, ) Tj ET Q q 0 0 0 rg BT 227.97 449.10 Td (2017. ) Tj ET Q q 0 0 0 rg BT 253.55 449.10 Td ( ) Tj ET Q q 0 0 0 rg BT 256.63 449.10 Td (However) Tj ET Q q 0 0 0 rg BT 292.88 449.10 Td (, ) Tj ET Q q 0 0 0 rg BT 298.46 449.10 Td (absent ) Tj ET Q q 0 0 0 rg BT 327.09 449.10 Td (reversal ) Tj ET Q q 0 0 0 rg BT 361.82 449.10 Td (of ) Tj ET Q q 0 0 0 rg BT 373.23 449.10 Td (the ) Tj ET Q q 0 0 0 rg BT 388.53 449.10 Td (trial ) Tj ET Q q 0 0 0 rg BT 407.71 449.10 Td (court�) Tj ET Q q 0 0 0 rg BT 431.04 449.10 Td (s ) Tj ET Q q 0 0 0 rg BT 438.01 449.10 Td (factual ) Tj ET Q q 0 0 0 rg BT 468.29 449.10 Td (or ) Tj ET Q q 0 0 0 rg BT 479.71 449.10 Td (legal ) Tj ET Q q 0 0 0 rg BT 502.22 449.10 Td (conclusions ) Tj ET Q q 0 0 0 rg BT 552.52 449.10 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 437.10 Td (appeal, ) Tj ET Q q 0 0 0 rg BT 81.32 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 96.76 437.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 138.87 437.10 Td (anticipates ) Tj ET Q q 0 0 0 rg BT 184.85 437.10 Td (total ) Tj ET Q q 0 0 0 rg BT 205.85 437.10 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 249.06 437.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 287.27 437.10 Td (will ) Tj ET Q q 0 0 0 rg BT 306.05 437.10 Td (equal ) Tj ET Q q 0 0 0 rg BT 330.93 437.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 346.38 437.10 Td ($46.0 ) Tj ET Q q 0 0 0 rg BT 372.10 437.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 400.99 437.10 Td ( ) Tj ET Q q 0 0 0 rg BT 404.21 437.10 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 446.30 437.10 Td (cap ) Tj ET Q q 0 0 0 rg BT 463.40 437.10 Td (under ) Tj ET Q q 0 0 0 rg BT 489.40 437.10 Td (the ) Tj ET Q q 0 0 0 rg BT 504.84 437.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 535.83 437.10 Td (supply ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 425.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 84.38 425.10 Td (\(which ) Tj ET Q q 0 0 0 rg BT 114.83 425.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 150.83 425.10 Td (an ) Tj ET Q q 0 0 0 rg BT 162.95 425.10 Td (additional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 205.62 425.10 Td ($14.2 ) Tj ET Q q 0 0 0 rg BT 230.80 425.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 259.69 425.10 Td ( ) Tj ET Q q 0 0 0 rg BT 262.37 425.10 Td (of ) Tj ET Q q 0 0 0 rg BT 273.38 425.10 Td (liquidated ) Tj ET Q q 0 0 0 rg BT 316.05 425.10 Td (damages ) Tj ET Q q 0 0 0 rg BT 353.72 425.10 Td (for ) Tj ET Q q 0 0 0 rg BT 368.06 425.10 Td (the ) Tj ET Q q 0 0 0 rg BT 382.96 425.10 Td (contract ) Tj ET Q q 0 0 0 rg BT 417.84 425.10 Td (years ) Tj ET Q q 0 0 0 rg BT 441.62 425.10 Td (ending ) Tj ET Q q 0 0 0 rg BT 471.51 425.10 Td (July ) Tj ET Q q 0 0 0 rg BT 490.86 425.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 506.04 425.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 528.72 425.10 Td (and ) Tj ET Q q 0 0 0 rg BT 545.84 425.10 Td (July ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 413.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 63.67 413.10 Td (2019\) ) Tj ET Q q 0 0 0 rg BT 88.67 413.10 Td (and ) Tj ET Q q 0 0 0 rg BT 104.78 413.10 Td (other ) Tj ET Q q 0 0 0 rg BT 127.00 413.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 148.67 413.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 191.43 413.10 Td (with ) Tj ET Q q 0 0 0 rg BT 210.88 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 224.76 413.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 267.53 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 277.53 413.10 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.96 413.10 Td ($3.4 ) Tj ET Q q 0 0 0 rg BT 356.13 413.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 385.02 413.10 Td (, ) Tj ET Q q 0 0 0 rg BT 389.19 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 403.08 413.10 Td (total ) Tj ET Q q 0 0 0 rg BT 422.52 413.10 Td (of ) Tj ET Q q 0 0 0 rg BT 432.52 413.10 Td (which ) Tj ET Q q 0 0 0 rg BT 458.63 413.10 Td (the ) Tj ET Q q 0 0 0 rg BT 472.52 413.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 513.07 413.10 Td (has ) Tj ET Q q 0 0 0 rg BT 528.07 413.10 Td (included ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 60.49 401.10 Td (�Other ) Tj ET Q q 0 0 0 rg BT 90.91 401.10 Td (liabilities� ) Tj ET Q q 0 0 0 rg BT 135.78 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 146.78 401.10 Td (our ) Tj ET Q q 0 0 0 rg BT 163.32 401.10 Td (Consolidated ) Tj ET Q q 0 0 0 rg BT 219.31 401.10 Td (Balance ) Tj ET Q q 0 0 0 rg BT 254.73 401.10 Td (Sheets ) Tj ET Q q 0 0 0 rg BT 284.05 401.10 Td (as ) Tj ET Q q 0 0 0 rg BT 295.59 401.10 Td (of ) Tj ET Q q 0 0 0 rg BT 307.14 401.10 Td (December ) Tj ET Q q 0 0 0 rg BT 351.44 401.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 367.15 401.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 390.36 401.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.02 401.10 Td (�Other ) Tj ET Q q 0 0 0 rg BT 438.44 401.10 Td (expenses� ) Tj ET Q q 0 0 0 rg BT 482.19 401.10 Td (in ) Tj ET Q q 0 0 0 rg BT 493.18 401.10 Td (our ) Tj ET Q q 0 0 0 rg BT 509.73 401.10 Td (Consolidated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 389.10 Td (Statements ) Tj ET Q q 0 0 0 rg BT 96.45 389.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.85 389.10 Td (Operations ) Tj ET Q q 0 0 0 rg BT 154.80 389.10 Td (for ) Tj ET Q q 0 0 0 rg BT 169.53 389.10 Td (the ) Tj ET Q q 0 0 0 rg BT 184.82 389.10 Td (year ) Tj ET Q q 0 0 0 rg BT 205.10 389.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 232.05 389.10 Td (December ) Tj ET Q q 0 0 0 rg BT 276.20 389.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 291.78 389.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 317.35 389.10 Td ( ) Tj ET Q q 0 0 0 rg BT 320.20 389.10 Td (The ) Tj ET Q q 0 0 0 rg BT 338.81 389.10 Td (Company�) Tj ET Q q 0 0 0 rg BT 380.48 389.10 Td (s ) Tj ET Q q 0 0 0 rg BT 387.44 389.10 Td (position ) Tj ET Q q 0 0 0 rg BT 422.74 389.10 Td (continues ) Tj ET Q q 0 0 0 rg BT 464.14 389.10 Td (to ) Tj ET Q q 0 0 0 rg BT 474.99 389.10 Td (be ) Tj ET Q q 0 0 0 rg BT 487.50 389.10 Td (that ) Tj ET Q q 0 0 0 rg BT 505.56 389.10 Td (its ) Tj ET Q q 0 0 0 rg BT 518.08 389.10 Td (contractual ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 377.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 97.05 377.10 Td (have ) Tj ET Q q 0 0 0 rg BT 119.02 377.10 Td (been ) Tj ET Q q 0 0 0 rg BT 141.00 377.10 Td (and ) Tj ET Q q 0 0 0 rg BT 158.54 377.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 196.08 377.10 Td (to ) Tj ET Q q 0 0 0 rg BT 206.96 377.10 Td (be ) Tj ET Q q 0 0 0 rg BT 219.50 377.10 Td (excused ) Tj ET Q q 0 0 0 rg BT 254.81 377.10 Td (by ) Tj ET Q q 0 0 0 rg BT 267.91 377.10 Td (events ) Tj ET Q q 0 0 0 rg BT 296.56 377.10 Td (that ) Tj ET Q q 0 0 0 rg BT 314.66 377.10 Td (fall ) Tj ET Q q 0 0 0 rg BT 331.08 377.10 Td (within ) Tj ET Q q 0 0 0 rg BT 359.74 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 375.06 377.10 Td (force ) Tj ET Q q 0 0 0 rg BT 398.70 377.10 Td (majeure ) Tj ET Q q 0 0 0 rg BT 434.01 377.10 Td (provisions ) Tj ET Q q 0 0 0 rg BT 478.78 377.10 Td (in ) Tj ET Q q 0 0 0 rg BT 489.66 377.10 Td (the ) Tj ET Q q 0 0 0 rg BT 504.98 377.10 Td (helium ) Tj ET Q q 0 0 0 rg BT 535.85 377.10 Td (supply ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 365.10 Td (contract. ) Tj ET Q q 0 0 0 rg BT 87.00 365.10 Td ( ) Tj ET Q q 0 0 0 rg BT 89.60 365.10 Td (The ) Tj ET Q q 0 0 0 rg BT 107.95 365.10 Td (Company ) Tj ET Q q 0 0 0 rg BT 149.64 365.10 Td (intends ) Tj ET Q q 0 0 0 rg BT 181.33 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 191.91 365.10 Td (continue ) Tj ET Q q 0 0 0 rg BT 229.15 365.10 Td (to ) Tj ET Q q 0 0 0 rg BT 239.73 365.10 Td (vigorously ) Tj ET Q q 0 0 0 rg BT 285.31 365.10 Td (defend ) Tj ET Q q 0 0 0 rg BT 315.32 365.10 Td (its ) Tj ET Q q 0 0 0 rg BT 327.57 365.10 Td (position ) Tj ET Q q 0 0 0 rg BT 362.60 365.10 Td (and ) Tj ET Q q 0 0 0 rg BT 379.84 365.10 Td (pursue ) Tj ET Q q 0 0 0 rg BT 409.31 365.10 Td (all ) Tj ET Q q 0 0 0 rg BT 422.10 365.10 Td (of ) Tj ET Q q 0 0 0 rg BT 433.24 365.10 Td (its ) Tj ET Q q 0 0 0 rg BT 445.49 365.10 Td (rights, ) Tj ET Q q 0 0 0 rg BT 473.57 365.10 Td (which ) Tj ET Q q 0 0 0 rg BT 500.81 365.10 Td (may ) Tj ET Q q 0 0 0 rg BT 520.83 365.10 Td (include ) Tj ET Q q 0 0 0 rg BT 553.07 365.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 353.10 Td (appeal ) Tj ET Q q 0 0 0 rg BT 78.09 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 88.92 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 103.64 353.10 Td (trial ) Tj ET Q q 0 0 0 rg BT 122.24 353.10 Td (court�) Tj ET Q q 0 0 0 rg BT 145.57 353.10 Td (s ) Tj ET Q q 0 0 0 rg BT 151.96 353.10 Td (ruling, ) Tj ET Q q 0 0 0 rg BT 180.85 353.10 Td (the ) Tj ET Q q 0 0 0 rg BT 195.56 353.10 Td (results ) Tj ET Q q 0 0 0 rg BT 224.17 353.10 Td (of ) Tj ET Q q 0 0 0 rg BT 235.00 353.10 Td (which ) Tj ET Q q 0 0 0 rg BT 261.94 353.10 Td (cannot ) Tj ET Q q 0 0 0 rg BT 291.10 353.10 Td (be ) Tj ET Q q 0 0 0 rg BT 303.04 353.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 341.63 353.10 Td (predicted.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 329.10 Td (Other) Tj ET Q q 0 0 0 rg BT 74.87 329.10 Td ( ) Tj ET Q q 0 0 0 rg BT 77.37 329.10 Td (Contingencies) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 305.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 305.10 Td (e ) Tj ET Q q 0 0 0 rg BT 83.36 305.10 Td (are ) Tj ET Q q 0 0 0 rg BT 98.35 305.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 129.46 305.10 Td (to ) Tj ET Q q 0 0 0 rg BT 140.03 305.10 Td (audits ) Tj ET Q q 0 0 0 rg BT 166.70 305.10 Td (for ) Tj ET Q q 0 0 0 rg BT 181.14 305.10 Td (various ) Tj ET Q q 0 0 0 rg BT 213.36 305.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 236.70 305.10 Td (\(income, ) Tj ET Q q 0 0 0 rg BT 274.74 305.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 296.97 305.10 Td (and ) Tj ET Q q 0 0 0 rg BT 314.19 305.10 Td (use, ) Tj ET Q q 0 0 0 rg BT 332.81 305.10 Td (and ) Tj ET Q q 0 0 0 rg BT 350.03 305.10 Td (severance\) ) Tj ET Q q 0 0 0 rg BT 395.56 305.10 Td (in ) Tj ET Q q 0 0 0 rg BT 406.12 305.10 Td (the ) Tj ET Q q 0 0 0 rg BT 421.12 305.10 Td (various ) Tj ET Q q 0 0 0 rg BT 453.35 305.10 Td (states ) Tj ET Q q 0 0 0 rg BT 478.35 305.10 Td (in ) Tj ET Q q 0 0 0 rg BT 488.91 305.10 Td (which ) Tj ET Q q 0 0 0 rg BT 516.13 305.10 Td (we ) Tj ET Q q 0 0 0 rg BT 530.58 305.10 Td (operate, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 293.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.72 293.10 Td (from ) Tj ET Q q 0 0 0 rg BT 88.94 293.10 Td (time ) Tj ET Q q 0 0 0 rg BT 109.50 293.10 Td (to ) Tj ET Q q 0 0 0 rg BT 120.06 293.10 Td (time ) Tj ET Q q 0 0 0 rg BT 140.61 293.10 Td (receive ) Tj ET Q q 0 0 0 rg BT 172.26 293.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 223.37 293.10 Td (for ) Tj ET Q q 0 0 0 rg BT 237.81 293.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 275.58 293.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 298.91 293.10 Td (that ) Tj ET Q q 0 0 0 rg BT 316.69 293.10 Td (we ) Tj ET Q q 0 0 0 rg BT 331.13 293.10 Td (may ) Tj ET Q q 0 0 0 rg BT 351.13 293.10 Td (owe.� ) Tj ET Q q 0 0 0 rg BT 375.58 293.10 Td (In ) Tj ET Q q 0 0 0 rg BT 386.69 293.10 Td (the ) Tj ET Q q 0 0 0 rg BT 401.69 293.10 Td (past, ) Tj ET Q q 0 0 0 rg BT 423.08 293.10 Td (settlement ) Tj ET Q q 0 0 0 rg BT 466.96 293.10 Td (of ) Tj ET Q q 0 0 0 rg BT 478.07 293.10 Td (these ) Tj ET Q q 0 0 0 rg BT 501.40 293.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 533.62 293.10 Td (has ) Tj ET Q q 0 0 0 rg BT 549.73 293.10 Td (not ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 281.10 Td (had ) Tj ET Q q 0 0 0 rg BT 66.44 281.10 Td (a ) Tj ET Q q 0 0 0 rg BT 73.38 281.10 Td (material ) Tj ET Q q 0 0 0 rg BT 108.64 281.10 Td (adverse ) Tj ET Q q 0 0 0 rg BT 141.67 281.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 179.15 281.10 Td (impact ) Tj ET Q q 0 0 0 rg BT 208.87 281.10 Td (on ) Tj ET Q q 0 0 0 rg BT 221.37 281.10 Td (us, ) Tj ET Q q 0 0 0 rg BT 235.26 281.10 Td (and ) Tj ET Q q 0 0 0 rg BT 252.20 281.10 Td (currently ) Tj ET Q q 0 0 0 rg BT 290.79 281.10 Td (we ) Tj ET Q q 0 0 0 rg BT 304.95 281.10 Td (have ) Tj ET Q q 0 0 0 rg BT 326.33 281.10 Td (no ) Tj ET Q q 0 0 0 rg BT 338.83 281.10 Td (material ) Tj ET Q q 0 0 0 rg BT 374.08 281.10 Td (assessments ) Tj ET Q q 0 0 0 rg BT 424.92 281.10 Td (for ) Tj ET Q q 0 0 0 rg BT 439.08 281.10 Td (potential ) Tj ET Q q 0 0 0 rg BT 476.57 281.10 Td (taxes.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 257.10 Td (The ) Tj ET Q q 0 0 0 rg BT 86.44 257.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 109.59 257.10 Td (V) Tj ET Q q 0 0 0 rg BT 116.21 257.10 Td (ir) Tj ET Q q 0 0 0 rg BT 122.14 257.10 Td (ginia ) Tj ET Q q 0 0 0 rg BT 145.52 257.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 162.00 257.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 177.41 257.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 225.23 257.10 Td (contains ) Tj ET Q q 0 0 0 rg BT 261.95 257.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 292.54 257.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 342.03 257.10 Td (rights ) Tj ET Q q 0 0 0 rg BT 368.21 257.10 Td (for ) Tj ET Q q 0 0 0 rg BT 383.26 257.10 Td (both ) Tj ET Q q 0 0 0 rg BT 404.43 257.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 442.81 257.10 Td (and ) Tj ET Q q 0 0 0 rg BT 460.64 257.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 483.79 257.10 Td (V) Tj ET Q q 0 0 0 rg BT 490.41 257.10 Td (ir) Tj ET Q q 0 0 0 rg BT 496.34 257.10 Td (ginia, ) Tj ET Q q 0 0 0 rg BT 522.23 257.10 Td (including, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.10 Td (among ) Tj ET Q q 0 0 0 rg BT 79.64 245.10 Td (others, ) Tj ET Q q 0 0 0 rg BT 109.51 245.10 Td (if ) Tj ET Q q 0 0 0 rg BT 118.54 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 133.69 245.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 150.17 245.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 165.86 245.10 Td (is ) Tj ET Q q 0 0 0 rg BT 175.46 245.10 Td (not ) Tj ET Q q 0 0 0 rg BT 191.16 245.10 Td (completed ) Tj ET Q q 0 0 0 rg BT 235.74 245.10 Td (by ) Tj ET Q q 0 0 0 rg BT 248.02 245.10 Td (April ) Tj ET Q q 0 0 0 rg BT 272.05 245.10 Td (30, ) Tj ET Q q 0 0 0 rg BT 287.48 245.10 Td (2019. ) Tj ET Q q 0 0 0 rg BT 312.90 245.10 Td ( ) Tj ET Q q 0 0 0 rg BT 315.83 245.10 Td (In ) Tj ET Q q 0 0 0 rg BT 327.09 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 342.23 245.10 Td (event ) Tj ET Q q 0 0 0 rg BT 366.81 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 378.07 245.10 Td (a ) Tj ET Q q 0 0 0 rg BT 385.43 245.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 434.46 245.10 Td (of ) Tj ET Q q 0 0 0 rg BT 445.71 245.10 Td (the ) Tj ET Q q 0 0 0 rg BT 460.86 245.10 Td (Mer) Tj ET Q q 0 0 0 rg BT 477.34 245.10 Td (ger ) Tj ET Q q 0 0 0 rg BT 492.39 245.10 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 539.74 245.10 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 78.52 233.10 Td (circumstances, ) Tj ET Q q 0 0 0 rg BT 139.48 233.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 161.16 233.10 Td (V) Tj ET Q q 0 0 0 rg BT 167.78 233.10 Td (ir) Tj ET Q q 0 0 0 rg BT 173.71 233.10 Td (ginia ) Tj ET Q q 0 0 0 rg BT 195.52 233.10 Td (may ) Tj ET Q q 0 0 0 rg BT 214.55 233.10 Td (be ) Tj ET Q q 0 0 0 rg BT 225.81 233.10 Td (required ) Tj ET Q q 0 0 0 rg BT 260.94 233.10 Td (to ) Tj ET Q q 0 0 0 rg BT 270.54 233.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 286.79 233.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 323.60 233.10 Td (a ) Tj ET Q q 0 0 0 rg BT 329.85 233.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 377.77 233.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 391.79 233.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.94 233.10 Td ($45 ) Tj ET Q q 0 0 0 rg BT 418.75 233.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 447.65 233.10 Td (, ) Tj ET Q q 0 0 0 rg BT 451.96 233.10 Td (or ) Tj ET Q q 0 0 0 rg BT 462.11 233.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 498.91 233.10 Td (may ) Tj ET Q q 0 0 0 rg BT 517.95 233.10 Td (be ) Tj ET Q q 0 0 0 rg BT 529.20 233.10 Td (required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.78 221.10 Td (pay ) Tj ET Q q 0 0 0 rg BT 76.72 221.10 Td (Penn ) Tj ET Q q 0 0 0 rg BT 99.04 221.10 Td (V) Tj ET Q q 0 0 0 rg BT 105.66 221.10 Td (ir) Tj ET Q q 0 0 0 rg BT 111.58 221.10 Td (ginia ) Tj ET Q q 0 0 0 rg BT 134.08 221.10 Td (a ) Tj ET Q q 0 0 0 rg BT 141.02 221.10 Td (termination ) Tj ET Q q 0 0 0 rg BT 189.62 221.10 Td (fee ) Tj ET Q q 0 0 0 rg BT 204.32 221.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 215.15 221.10 Td ($45 ) Tj ET Q q 0 0 0 rg BT 232.65 221.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 261.55 221.10 Td (, ) Tj ET Q q 0 0 0 rg BT 266.55 221.10 Td (in ) Tj ET Q q 0 0 0 rg BT 276.82 221.10 Td (each ) Tj ET Q q 0 0 0 rg BT 297.64 221.10 Td (case ) Tj ET Q q 0 0 0 rg BT 317.35 221.10 Td (depending ) Tj ET Q q 0 0 0 rg BT 361.50 221.10 Td (on ) Tj ET Q q 0 0 0 rg BT 374.00 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 388.72 221.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 447.86 221.10 Td (of ) Tj ET Q q 0 0 0 rg BT 458.69 221.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.41 221.10 Td (termination.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 197.10 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 197.10 Td (e ) Tj ET Q q 0 0 0 rg BT 82.02 197.10 Td (are ) Tj ET Q q 0 0 0 rg BT 95.67 197.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 125.44 197.10 Td (to ) Tj ET Q q 0 0 0 rg BT 134.66 197.10 Td (various ) Tj ET Q q 0 0 0 rg BT 165.54 197.10 Td (possible ) Tj ET Q q 0 0 0 rg BT 199.76 197.10 Td (contingencies ) Tj ET Q q 0 0 0 rg BT 256.18 197.10 Td (that ) Tj ET Q q 0 0 0 rg BT 272.62 197.10 Td (arise ) Tj ET Q q 0 0 0 rg BT 292.94 197.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 331.60 197.10 Td (from ) Tj ET Q q 0 0 0 rg BT 352.48 197.10 Td (interpretation ) Tj ET Q q 0 0 0 rg BT 407.79 197.10 Td (of ) Tj ET Q q 0 0 0 rg BT 417.56 197.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 446.76 197.10 Td (and ) Tj ET Q q 0 0 0 rg BT 462.64 197.10 Td (state ) Tj ET Q q 0 0 0 rg BT 482.41 197.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 502.18 197.10 Td (and ) Tj ET Q q 0 0 0 rg BT 518.06 197.10 Td (regulations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.10 Td (af) Tj ET Q q 0 0 0 rg BT 57.09 185.10 Td (fecting ) Tj ET Q q 0 0 0 rg BT 87.85 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 103.06 185.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 116.61 185.10 Td (and ) Tj ET Q q 0 0 0 rg BT 134.04 185.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 164.80 185.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 181.13 185.10 Td (industry) Tj ET Q q 0 0 0 rg BT 213.25 185.10 Td (.��Such ) Tj ET Q q 0 0 0 rg BT 243.75 185.10 Td (contingencies ) Tj ET Q q 0 0 0 rg BT 301.72 185.10 Td (include ) Tj ET Q q 0 0 0 rg BT 334.15 185.10 Td (dif) Tj ET Q q 0 0 0 rg BT 345.08 185.10 Td (fering ) Tj ET Q q 0 0 0 rg BT 371.95 185.10 Td (interpretations ) Tj ET Q q 0 0 0 rg BT 432.70 185.10 Td (as ) Tj ET Q q 0 0 0 rg BT 444.03 185.10 Td (to ) Tj ET Q q 0 0 0 rg BT 454.80 185.10 Td (the ) Tj ET Q q 0 0 0 rg BT 470.01 185.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 496.89 185.10 Td (at ) Tj ET Q q 0 0 0 rg BT 507.10 185.10 Td (which ) Tj ET Q q 0 0 0 rg BT 534.53 185.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 548.08 185.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 80.06 173.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 96.19 173.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 118.43 173.10 Td (may ) Tj ET Q q 0 0 0 rg BT 138.44 173.10 Td (be ) Tj ET Q q 0 0 0 rg BT 150.68 173.10 Td (made, ) Tj ET Q q 0 0 0 rg BT 177.63 173.10 Td (the ) Tj ET Q q 0 0 0 rg BT 192.64 173.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 219.32 173.10 Td (at ) Tj ET Q q 0 0 0 rg BT 229.33 173.10 Td (which ) Tj ET Q q 0 0 0 rg BT 256.57 173.10 Td (royalty ) Tj ET Q q 0 0 0 rg BT 287.69 173.10 Td (owners ) Tj ET Q q 0 0 0 rg BT 319.37 173.10 Td (may ) Tj ET Q q 0 0 0 rg BT 339.39 173.10 Td (be ) Tj ET Q q 0 0 0 rg BT 351.62 173.10 Td (paid ) Tj ET Q q 0 0 0 rg BT 371.64 173.10 Td (for ) Tj ET Q q 0 0 0 rg BT 386.10 173.10 Td (production ) Tj ET Q q 0 0 0 rg BT 432.22 173.10 Td (from ) Tj ET Q q 0 0 0 rg BT 454.46 173.10 Td (their ) Tj ET Q q 0 0 0 rg BT 475.58 173.10 Td (leases, ) Tj ET Q q 0 0 0 rg BT 504.75 173.10 Td (environmental ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.10 Td (issues ) Tj ET Q q 0 0 0 rg BT 75.31 161.10 Td (and ) Tj ET Q q 0 0 0 rg BT 91.66 161.10 Td (other ) Tj ET Q q 0 0 0 rg BT 114.13 161.10 Td (matters.��) Tj ET Q q 0 0 0 rg BT 150.51 161.10 Td (Although ) Tj ET Q q 0 0 0 rg BT 190.20 161.10 Td (we ) Tj ET Q q 0 0 0 rg BT 203.78 161.10 Td (believe ) Tj ET Q q 0 0 0 rg BT 234.57 161.10 Td (that ) Tj ET Q q 0 0 0 rg BT 251.48 161.10 Td (we ) Tj ET Q q 0 0 0 rg BT 265.06 161.10 Td (have ) Tj ET Q q 0 0 0 rg BT 285.85 161.10 Td (complied ) Tj ET Q q 0 0 0 rg BT 324.98 161.10 Td (with ) Tj ET Q q 0 0 0 rg BT 344.67 161.10 Td (the ) Tj ET Q q 0 0 0 rg BT 358.81 161.10 Td (various ) Tj ET Q q 0 0 0 rg BT 390.16 161.10 Td (laws ) Tj ET Q q 0 0 0 rg BT 410.41 161.10 Td (and ) Tj ET Q q 0 0 0 rg BT 426.76 161.10 Td (regulations, ) Tj ET Q q 0 0 0 rg BT 475.61 161.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 534.74 161.10 Td (rulings ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.10 Td (and ) Tj ET Q q 0 0 0 rg BT 65.54 149.10 Td (interpretations ) Tj ET Q q 0 0 0 rg BT 124.90 149.10 Td (thereof, ) Tj ET Q q 0 0 0 rg BT 157.31 149.10 Td (adjustments ) Tj ET Q q 0 0 0 rg BT 206.68 149.10 Td (could ) Tj ET Q q 0 0 0 rg BT 230.50 149.10 Td (be ) Tj ET Q q 0 0 0 rg BT 241.54 149.10 Td (required ) Tj ET Q q 0 0 0 rg BT 276.45 149.10 Td (as ) Tj ET Q q 0 0 0 rg BT 286.38 149.10 Td (new ) Tj ET Q q 0 0 0 rg BT 304.64 149.10 Td (interpretations ) Tj ET Q q 0 0 0 rg BT 364.00 149.10 Td (and ) Tj ET Q q 0 0 0 rg BT 380.03 149.10 Td (regulations ) Tj ET Q q 0 0 0 rg BT 426.07 149.10 Td (are ) Tj ET Q q 0 0 0 rg BT 439.87 149.10 Td (issued.��In ) Tj ET Q q 0 0 0 rg BT 482.30 149.10 Td (addition, ) Tj ET Q q 0 0 0 rg BT 519.18 149.10 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.10 Td (rates, ) Tj ET Q q 0 0 0 rg BT 73.38 137.10 Td (marketing ) Tj ET Q q 0 0 0 rg BT 116.42 137.10 Td (and ) Tj ET Q q 0 0 0 rg BT 133.36 137.10 Td (environmental ) Tj ET Q q 0 0 0 rg BT 193.62 137.10 Td (matters ) Tj ET Q q 0 0 0 rg BT 225.55 137.10 Td (are ) Tj ET Q q 0 0 0 rg BT 240.26 137.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 271.08 137.10 Td (to ) Tj ET Q q 0 0 0 rg BT 281.36 137.10 Td (regulation ) Tj ET Q q 0 0 0 rg BT 324.40 137.10 Td (by ) Tj ET Q q 0 0 0 rg BT 336.90 137.10 Td (various ) Tj ET Q q 0 0 0 rg BT 368.84 137.10 Td (federal ) Tj ET Q q 0 0 0 rg BT 399.09 137.10 Td (and ) Tj ET Q q 0 0 0 rg BT 416.03 137.10 Td (state ) Tj ET Q q 0 0 0 rg BT 436.86 137.10 Td (agencies.) 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BT /F1 10.00 Tf ET q 0 0 0 rg BT 528.30 363.47 Td (\(13,593) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 363.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 348.42 Td (Conversion of convertible senior notes into common stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 348.42 Td (162,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 348.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 348.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 333.42 Td (Retirement of treasury stock) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 333.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 333.42 Td (46,562) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 549.15 333.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 305.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 71.99 305.25 Td (15. ) Tj ET Q q 0 0 0 rg BT 86.99 305.25 Td (Subsequent ) Tj ET Q q 0 0 0 rg BT 138.96 305.25 Td (Events) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 281.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 73.49 281.25 Td (V) Tj ET Q q 0 0 0 rg BT 80.34 281.25 Td (irginia Merger) Tj ET Q q 0 0 0 rg BT 143.19 281.25 Td ( ) Tj ET Q q 0 0 0 rg BT 145.13 281.25 Td (Agr) Tj ET Q q 0 0 0 rg BT 161.61 281.25 Td (eement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 257.25 Td (On ) Tj ET Q q 0 0 0 rg BT 81.36 257.25 Td (October ) Tj ET Q q 0 0 0 rg BT 115.20 257.25 Td (28, ) Tj ET Q q 0 0 0 rg BT 129.33 257.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 153.47 257.25 Td (we ) Tj ET Q q 0 0 0 rg BT 166.76 257.25 Td (entered ) Tj ET Q q 0 0 0 rg BT 197.82 257.25 Td (into ) Tj ET Q q 0 0 0 rg BT 215.01 257.25 Td (a ) Tj ET Q q 0 0 0 rg BT 221.09 257.25 Td (definitive ) Tj ET Q q 0 0 0 rg BT 260.68 257.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 306.74 257.25 Td (and ) Tj ET Q q 0 0 0 rg BT 322.81 257.25 Td (Plan ) Tj ET Q q 0 0 0 rg BT 342.23 257.25 Td (of ) Tj ET Q q 0 0 0 rg BT 352.19 257.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 368.67 257.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 383.07 257.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 400.25 257.25 Td (�Mer) Tj ET Q q 0 0 0 rg BT 421.17 257.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 435.21 257.25 Td (Agreement�\) ) Tj ET Q q 0 0 0 rg BT 489.04 257.25 Td (with ) Tj ET Q q 0 0 0 rg BT 508.46 257.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 529.97 257.25 Td (V) Tj ET Q q 0 0 0 rg BT 536.59 257.25 Td (ir) Tj ET Q q 0 0 0 rg BT 542.52 257.25 Td (ginia ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 245.25 Td (Corporation ) Tj ET Q q 0 0 0 rg BT 100.47 245.25 Td (\(NASDAQ: ) Tj ET Q q 0 0 0 rg BT 150.89 245.25 Td (PV) Tj ET Q q 0 0 0 rg BT 162.39 245.25 Td (AC\) ) Tj ET Q q 0 0 0 rg BT 182.25 245.25 Td (\(�Penn ) Tj ET Q q 0 0 0 rg BT 212.47 245.25 Td (V) Tj ET Q q 0 0 0 rg BT 219.09 245.25 Td (ir) Tj ET Q q 0 0 0 rg BT 225.02 245.25 Td (ginia�\), ) Tj ET Q q 0 0 0 rg BT 257.93 245.25 Td (the ) Tj ET Q q 0 0 0 rg BT 272.79 245.25 Td (closing ) Tj ET Q q 0 0 0 rg BT 304.32 245.25 Td (of ) Tj ET Q q 0 0 0 rg BT 315.30 245.25 Td (which ) Tj ET Q q 0 0 0 rg BT 342.38 245.25 Td (is ) Tj ET Q q 0 0 0 rg BT 351.69 245.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 382.66 245.25 Td (to ) Tj ET Q q 0 0 0 rg BT 393.08 245.25 Td (approval ) Tj ET Q q 0 0 0 rg BT 430.71 245.25 Td (by ) Tj ET Q q 0 0 0 rg BT 443.36 245.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 496.54 245.25 Td (of ) Tj ET Q q 0 0 0 rg BT 507.51 245.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 529.97 245.25 Td (V) Tj ET Q q 0 0 0 rg BT 536.59 245.25 Td (ir) Tj ET Q q 0 0 0 rg BT 542.51 245.25 Td (ginia ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 233.25 Td (and ) Tj ET Q q 0 0 0 rg BT 65.95 233.25 Td (Denbury�) Tj ET Q q 0 0 0 rg BT 103.72 233.25 Td (s ) Tj ET Q q 0 0 0 rg BT 109.63 233.25 Td (stockholders ) Tj ET Q q 0 0 0 rg BT 162.19 233.25 Td (and ) Tj ET Q q 0 0 0 rg BT 178.64 233.25 Td (other ) Tj ET Q q 0 0 0 rg BT 201.20 233.25 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 247.38 233.25 Td ( ) Tj ET Q q 0 0 0 rg BT 249.24 233.25 Td (The ) Tj ET Q q 0 0 0 rg BT 266.80 233.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 283.28 233.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 297.62 233.25 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 344.06 233.25 Td (provides ) Tj ET Q q 0 0 0 rg BT 380.51 233.25 Td (for ) Tj ET Q q 0 0 0 rg BT 394.18 233.25 Td (each ) Tj ET Q q 0 0 0 rg BT 414.51 233.25 Td (share ) Tj ET Q q 0 0 0 rg BT 437.62 233.25 Td (of ) Tj ET Q q 0 0 0 rg BT 447.97 233.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 469.83 233.25 Td (V) Tj ET Q q 0 0 0 rg BT 476.45 233.25 Td (ir) Tj ET Q q 0 0 0 rg BT 482.38 233.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 504.39 233.25 Td (common ) Tj ET Q q 0 0 0 rg BT 541.40 233.25 Td (stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 221.25 Td (\(�Penn ) Tj ET Q q 0 0 0 rg BT 80.18 221.25 Td (V) Tj ET Q q 0 0 0 rg BT 86.80 221.25 Td (ir) Tj ET Q q 0 0 0 rg BT 92.73 221.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 115.86 221.25 Td (Common ) Tj ET Q q 0 0 0 rg BT 156.22 221.25 Td (Stock�\), ) Tj ET Q q 0 0 0 rg BT 192.40 221.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 220.54 221.25 Td (and ) Tj ET Q q 0 0 0 rg BT 238.11 221.25 Td (outstanding ) Tj ET Q q 0 0 0 rg BT 287.92 221.25 Td (immediately ) Tj ET Q q 0 0 0 rg BT 341.04 221.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 363.61 221.25 Td (to ) Tj ET Q q 0 0 0 rg BT 374.53 221.25 Td (the ) Tj ET Q q 0 0 0 rg BT 389.88 221.25 Td (ef) Tj ET Q q 0 0 0 rg BT 397.47 221.25 Td (fective ) Tj ET Q q 0 0 0 rg BT 427.81 221.25 Td (time ) Tj ET Q q 0 0 0 rg BT 448.72 221.25 Td (of ) Tj ET Q q 0 0 0 rg BT 460.18 221.25 Td (the ) Tj ET Q q 0 0 0 rg BT 475.54 221.25 Td (mer) Tj ET Q q 0 0 0 rg BT 490.90 221.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 506.81 221.25 Td (\(other ) Tj ET Q q 0 0 0 rg BT 533.82 221.25 Td (than ) Tj ET Q q 0 0 0 rg BT 554.17 221.25 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 209.25 Td (described ) Tj ET Q q 0 0 0 rg BT 90.54 209.25 Td (in ) Tj ET Q q 0 0 0 rg BT 101.04 209.25 Td (the ) Tj ET Q q 0 0 0 rg BT 115.97 209.25 Td (Mer) Tj ET Q q 0 0 0 rg BT 132.45 209.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 147.34 209.25 Td (Agreement\) ) Tj ET Q q 0 0 0 rg BT 197.82 209.25 Td (to ) Tj ET Q q 0 0 0 rg BT 208.32 209.25 Td (be ) Tj ET Q q 0 0 0 rg BT 220.48 209.25 Td (converted ) Tj ET Q q 0 0 0 rg BT 262.62 209.25 Td (into ) Tj ET Q q 0 0 0 rg BT 280.90 209.25 Td (the ) Tj ET Q q 0 0 0 rg BT 295.84 209.25 Td (right ) Tj ET Q q 0 0 0 rg BT 317.45 209.25 Td (to ) Tj ET Q q 0 0 0 rg BT 327.95 209.25 Td (receive, ) Tj ET Q q 0 0 0 rg BT 362.03 209.25 Td (at ) Tj ET Q q 0 0 0 rg BT 371.97 209.25 Td (the ) Tj ET Q q 0 0 0 rg BT 386.90 209.25 Td (election ) Tj ET Q q 0 0 0 rg BT 421.28 209.25 Td (of ) Tj ET Q q 0 0 0 rg BT 432.33 209.25 Td (the ) Tj ET Q q 0 0 0 rg BT 447.27 209.25 Td (holder ) Tj ET Q q 0 0 0 rg BT 475.53 209.25 Td (of ) Tj ET Q q 0 0 0 rg BT 486.58 209.25 Td (such ) Tj ET Q q 0 0 0 rg BT 507.64 209.25 Td (share ) Tj ET Q q 0 0 0 rg BT 531.46 209.25 Td (of ) Tj ET Q q 0 0 0 rg BT 542.51 209.25 Td (Penn ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 197.25 Td (V) Tj ET Q q 0 0 0 rg BT 56.12 197.25 Td (ir) Tj ET Q q 0 0 0 rg BT 62.05 197.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 84.75 197.25 Td (Common ) Tj ET Q q 0 0 0 rg BT 124.68 197.25 Td (Stock, ) Tj ET Q q 0 0 0 rg BT 152.67 197.25 Td (either) Tj ET Q q 0 0 0 rg BT 175.03 197.25 Td (, ) Tj ET Q q 0 0 0 rg BT 180.24 197.25 Td (\(i\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 192.38 197.25 Td ($25.86) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 219.88 197.25 Td ( ) Tj ET Q q 0 0 0 rg BT 222.59 197.25 Td (in ) Tj ET Q q 0 0 0 rg BT 233.07 197.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 253.55 197.25 Td (without ) Tj ET Q q 0 0 0 rg BT 286.81 197.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 318.95 197.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 336.10 197.25 Td (12.4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 353.60 197.25 Td ( ) Tj ET Q q 0 0 0 rg BT 356.30 197.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 384.00 197.25 Td (of ) Tj ET Q q 0 0 0 rg BT 395.04 197.25 Td (the ) Tj ET Q q 0 0 0 rg BT 409.96 197.25 Td (Company�) Tj ET Q q 0 0 0 rg BT 451.63 197.25 Td (s ) Tj ET Q q 0 0 0 rg BT 458.22 197.25 Td (common ) Tj ET Q q 0 0 0 rg BT 495.93 197.25 Td (stock ) Tj ET Q q 0 0 0 rg BT 519.74 197.25 Td (\(�Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 185.25 Td (Common ) Tj ET Q q 0 0 0 rg BT 89.49 185.25 Td (Stock�\), ) Tj ET Q q 0 0 0 rg BT 125.30 185.25 Td (\(ii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.29 185.25 Td ($79.80) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 167.79 185.25 Td ( ) Tj ET Q q 0 0 0 rg BT 170.55 185.25 Td (in ) Tj ET Q q 0 0 0 rg BT 181.09 185.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 201.63 185.25 Td (without ) Tj ET Q q 0 0 0 rg BT 234.95 185.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 267.15 185.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 285.46 185.25 Td (�Cash ) Tj ET Q q 0 0 0 rg BT 312.66 185.25 Td (Election�\), ) Tj ET Q q 0 0 0 rg BT 359.02 185.25 Td (or ) Tj ET Q q 0 0 0 rg BT 370.11 185.25 Td (\(iii\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.87 185.25 Td (18.3454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.37 185.25 Td ( ) Tj ET Q q 0 0 0 rg BT 423.14 185.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 450.89 185.25 Td (of ) Tj ET Q q 0 0 0 rg BT 461.99 185.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 499.74 185.25 Td (Common ) Tj ET Q q 0 0 0 rg BT 539.74 185.25 Td (Stock ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 173.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 67.77 173.25 Td (�Stock ) Tj ET Q q 0 0 0 rg BT 97.70 173.25 Td (Election�\). ) Tj ET Q q 0 0 0 rg BT 144.01 173.25 Td ( ) Tj ET Q q 0 0 0 rg BT 146.53 173.25 Td (The ) Tj ET Q q 0 0 0 rg BT 164.80 173.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 187.52 173.25 Td (and ) Tj ET Q q 0 0 0 rg BT 204.67 173.25 Td (Stock ) Tj ET Q q 0 0 0 rg BT 230.17 173.25 Td (Elections ) Tj ET Q q 0 0 0 rg BT 270.10 173.25 Td (are ) Tj ET Q q 0 0 0 rg BT 285.03 173.25 Td (to ) Tj ET Q q 0 0 0 rg BT 295.52 173.25 Td (be ) Tj ET Q q 0 0 0 rg BT 307.68 173.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 338.72 173.25 Td (to ) Tj ET Q q 0 0 0 rg BT 349.22 173.25 Td (proration ) Tj ET Q q 0 0 0 rg BT 388.60 173.25 Td (to ) Tj ET Q q 0 0 0 rg BT 399.09 173.25 Td (ensure ) Tj ET Q q 0 0 0 rg BT 427.91 173.25 Td (that ) Tj ET Q q 0 0 0 rg BT 445.62 173.25 Td (the ) Tj ET Q q 0 0 0 rg BT 460.56 173.25 Td (total ) Tj ET Q q 0 0 0 rg BT 481.05 173.25 Td (amount ) Tj ET Q q 0 0 0 rg BT 513.77 173.25 Td (of ) Tj ET Q q 0 0 0 rg BT 524.81 173.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 545.30 173.25 Td (paid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 161.25 Td (to ) Tj ET Q q 0 0 0 rg BT 60.09 161.25 Td (holders ) Tj ET Q q 0 0 0 rg BT 92.34 161.25 Td (of ) Tj ET Q q 0 0 0 rg BT 103.48 161.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 126.09 161.25 Td (V) Tj ET Q q 0 0 0 rg BT 132.71 161.25 Td (ir) Tj ET Q q 0 0 0 rg BT 138.64 161.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 161.45 161.25 Td (Common ) Tj ET Q q 0 0 0 rg BT 201.49 161.25 Td (Stock ) Tj ET Q q 0 0 0 rg BT 227.08 161.25 Td (is ) Tj ET Q q 0 0 0 rg BT 236.56 161.25 Td (equal ) Tj ET Q q 0 0 0 rg BT 261.03 161.25 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 271.62 161.25 Td ($400 ) Tj ET Q q 0 0 0 rg BT 294.43 161.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.33 161.25 Td (. ) Tj ET Q q 0 0 0 rg BT 328.64 161.25 Td ( ) Tj ET Q q 0 0 0 rg BT 331.45 161.25 Td (In ) Tj ET Q q 0 0 0 rg BT 342.59 161.25 Td (the ) Tj ET Q q 0 0 0 rg BT 357.62 161.25 Td (aggregate, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 401.80 161.25 Td ($400 ) Tj ET Q q 0 0 0 rg BT 424.61 161.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.50 161.25 Td ( ) Tj ET Q q 0 0 0 rg BT 456.31 161.25 Td (in ) Tj ET Q q 0 0 0 rg BT 466.90 161.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 487.49 161.25 Td (and ) Tj ET Q q 0 0 0 rg BT 504.74 161.25 Td (approximately ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 149.25 Td (191.8 ) Tj ET Q q 0 0 0 rg BT 74.55 149.25 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.44 149.25 Td ( ) Tj ET Q q 0 0 0 rg BT 106.00 149.25 Td (shares ) Tj ET Q q 0 0 0 rg BT 133.54 149.25 Td (of ) Tj ET Q q 0 0 0 rg BT 144.42 149.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 181.97 149.25 Td (Common ) Tj ET Q q 0 0 0 rg BT 221.75 149.25 Td (Stock ) Tj ET Q q 0 0 0 rg BT 247.08 149.25 Td (are ) Tj ET Q q 0 0 0 rg BT 261.84 149.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 299.92 149.25 Td (to ) Tj ET Q q 0 0 0 rg BT 310.25 149.25 Td (be ) Tj ET Q q 0 0 0 rg BT 322.24 149.25 Td (paid ) Tj ET Q q 0 0 0 rg BT 342.01 149.25 Td (as ) Tj ET Q q 0 0 0 rg BT 352.90 149.25 Td (mer) Tj ET Q q 0 0 0 rg BT 368.26 149.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 383.58 149.25 Td (consideration. ) Tj ET Q q 0 0 0 rg BT 442.51 149.25 Td ( ) Tj ET Q q 0 0 0 rg BT 445.06 149.25 Td (Consummation ) Tj ET Q q 0 0 0 rg BT 508.73 149.25 Td (of ) Tj ET Q q 0 0 0 rg BT 519.61 149.25 Td (the ) Tj ET Q q 0 0 0 rg BT 534.38 149.25 Td (mer) Tj ET Q q 0 0 0 rg BT 549.75 149.25 Td (ger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 137.25 Td (is ) Tj ET Q q 0 0 0 rg BT 58.55 137.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 89.26 137.25 Td (to ) Tj ET Q q 0 0 0 rg BT 99.43 137.25 Td (satisfaction ) Tj ET Q q 0 0 0 rg BT 147.35 137.25 Td (of ) Tj ET Q q 0 0 0 rg BT 158.07 137.25 Td (customary ) Tj ET Q q 0 0 0 rg BT 202.11 137.25 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 248.66 137.25 Td ( ) Tj ET Q q 0 0 0 rg BT 251.04 137.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 288.41 137.25 Td (and ) Tj ET Q q 0 0 0 rg BT 305.24 137.25 Td (Penn ) Tj ET Q q 0 0 0 rg BT 327.45 137.25 Td (V) Tj ET Q q 0 0 0 rg BT 334.07 137.25 Td (ir) Tj ET Q q 0 0 0 rg BT 340.00 137.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 362.38 137.25 Td (each ) Tj ET Q q 0 0 0 rg BT 383.08 137.25 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 424.92 137.25 Td (April�17, ) Tj ET Q q 0 0 0 rg BT 463.41 137.25 Td (2019 ) Tj ET Q q 0 0 0 rg BT 485.80 137.25 Td (as ) Tj ET Q q 0 0 0 rg BT 496.51 137.25 Td (the ) Tj ET Q q 0 0 0 rg BT 511.11 137.25 Td (date ) Tj ET Q q 0 0 0 rg BT 530.15 137.25 Td (for ) Tj ET Q q 0 0 0 rg BT 544.20 137.25 Td (their ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 125.25 Td (respective ) Tj ET Q q 0 0 0 rg BT 91.90 125.25 Td (upcoming ) Tj ET Q q 0 0 0 rg BT 133.76 125.25 Td (special ) Tj ET Q q 0 0 0 rg BT 163.39 125.25 Td (stockholder ) Tj ET Q q 0 0 0 rg BT 211.91 125.25 Td (meetings, ) Tj ET Q q 0 0 0 rg BT 252.38 125.25 Td (at ) Tj ET Q q 0 0 0 rg BT 261.47 125.25 Td (which ) Tj ET Q q 0 0 0 rg BT 287.77 125.25 Td (time ) Tj ET Q q 0 0 0 rg BT 307.41 125.25 Td (shareholders ) Tj ET Q q 0 0 0 rg BT 359.82 125.25 Td (will ) Tj ET Q q 0 0 0 rg BT 377.24 125.25 Td (vote ) Tj ET Q q 0 0 0 rg BT 396.32 125.25 Td (on, ) Tj ET Q q 0 0 0 rg BT 410.69 125.25 Td (among ) Tj ET Q q 0 0 0 rg BT 439.77 125.25 Td (other ) Tj ET Q q 0 0 0 rg BT 462.19 125.25 Td (items, ) Tj ET Q q 0 0 0 rg BT 488.22 125.25 Td (the ) Tj ET Q q 0 0 0 rg BT 502.30 125.25 Td (mer) Tj ET Q q 0 0 0 rg BT 517.67 125.25 Td (ger ) Tj ET Q q 0 0 0 rg BT 532.30 125.25 Td (of ) Tj ET Q q 0 0 0 rg BT 542.50 125.25 Td (Penn ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 113.25 Td (V) Tj ET Q q 0 0 0 rg BT 56.12 113.25 Td (ir) Tj ET Q q 0 0 0 rg BT 62.05 113.25 Td (ginia ) Tj ET Q q 0 0 0 rg BT 84.54 113.25 Td (with ) Tj ET Q q 0 0 0 rg BT 104.82 113.25 Td (and ) Tj ET Q q 0 0 0 rg BT 121.76 113.25 Td (into ) Tj ET Q q 0 0 0 rg BT 139.82 113.25 Td (Denbury) Tj ET Q q 0 0 0 rg BT 174.16 113.25 Td (.) 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rg BT 499.94 533.10 Td (the ) Tj ET Q q 0 0 0 rg BT 514.84 533.10 Td (years ) Tj ET Q q 0 0 0 rg BT 538.62 533.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 521.10 Td (December ) Tj ET Q q 0 0 0 rg BT 93.71 521.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 109.33 521.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 129.33 521.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 134.95 521.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 154.95 521.10 Td ( ) Tj ET Q q 0 0 0 rg BT 158.07 521.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 175.64 521.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 195.64 521.10 Td (, ) Tj ET Q q 0 0 0 rg BT 201.26 521.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 248.92 521.10 Td (.��Costs ) Tj ET Q q 0 0 0 rg BT 281.77 521.10 Td (incurred ) Tj ET Q q 0 0 0 rg BT 318.21 521.10 Td (also ) Tj ET Q q 0 0 0 rg BT 337.44 521.10 Td (include ) Tj ET Q q 0 0 0 rg BT 370.00 521.10 Td (new ) Tj ET Q q 0 0 0 rg BT 389.78 521.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 412.34 521.10 Td (retirement ) Tj ET Q q 0 0 0 rg BT 456.55 521.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 504.12 521.10 Td (established, ) Tj ET Q q 0 0 0 rg BT 554.18 521.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 509.10 Td (well ) Tj ET Q q 0 0 0 rg BT 69.08 509.10 Td (as ) Tj ET Q q 0 0 0 rg BT 79.78 509.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 114.35 509.10 Td (to ) Tj ET Q q 0 0 0 rg BT 124.50 509.10 Td (asset ) Tj ET Q q 0 0 0 rg BT 146.30 509.10 Td (retirement ) Tj ET Q q 0 0 0 rg BT 189.75 509.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 236.56 509.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 273.92 509.10 Td (from ) Tj ET Q q 0 0 0 rg BT 295.73 509.10 Td (revisions ) Tj ET Q q 0 0 0 rg BT 334.20 509.10 Td (in ) Tj ET Q q 0 0 0 rg BT 344.35 509.10 Td (cost ) Tj ET Q q 0 0 0 rg BT 362.82 509.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 402.40 509.10 Td (or ) Tj ET Q q 0 0 0 rg BT 413.09 509.10 Td (abandonment ) Tj ET Q q 0 0 0 rg BT 469.33 509.10 Td (dates.��) Tj ET Q q 0 0 0 rg BT 496.83 509.10 Td (Asset ) Tj ET Q q 0 0 0 rg BT 521.41 509.10 Td (retirement ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 497.10 Td (obligations ) Tj ET Q q 0 0 0 rg BT 96.99 497.10 Td (included ) Tj ET Q q 0 0 0 rg BT 134.47 497.10 Td (in ) Tj ET Q q 0 0 0 rg BT 145.29 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 160.55 497.10 Td (table ) Tj ET Q q 0 0 0 rg BT 183.03 497.10 Td (below ) Tj ET Q q 0 0 0 rg BT 210.51 497.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 232.98 497.10 Td ($6.8 ) Tj ET Q q 0 0 0 rg BT 253.53 497.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 282.42 497.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 287.96 497.10 Td ($5.6 ) Tj ET Q q 0 0 0 rg BT 308.51 497.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 337.40 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 340.44 497.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 357.93 497.10 Td ($3.9 ) Tj ET Q q 0 0 0 rg BT 378.47 497.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.36 497.10 Td ( ) Tj ET Q q 0 0 0 rg BT 410.41 497.10 Td (during ) Tj ET Q q 0 0 0 rg BT 439.56 497.10 Td (the ) Tj ET Q q 0 0 0 rg BT 454.82 497.10 Td (years ) Tj ET Q q 0 0 0 rg BT 478.97 497.10 Td (ended ) Tj ET Q q 0 0 0 rg BT 505.89 497.10 Td (December ) Tj ET Q q 0 0 0 rg BT 550.02 497.10 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 485.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.50 485.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 74.50 485.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 94.50 485.10 Td ( ) Tj ET Q q 0 0 0 rg BT 97.00 485.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 113.94 485.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 133.94 485.10 Td (, ) Tj ET Q q 0 0 0 rg BT 138.94 485.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 186.60 485.10 Td (.��See ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 211.04 485.10 Td (Note ) Tj ET Q q 0 0 0 rg BT 232.98 485.10 Td (4) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 237.98 485.10 Td (, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 242.98 485.10 Td (Asset ) Tj ET Q q 0 0 0 rg BT 266.58 485.10 Td (Retir) Tj ET Q q 0 0 0 rg BT 286.21 485.10 Td (ement ) Tj ET Q q 0 0 0 rg BT 312.59 485.10 Td (Obligations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.81 485.10 Td (, ) Tj ET Q q 0 0 0 rg BT 364.81 485.10 Td (for ) Tj ET Q q 0 0 0 rg BT 378.97 485.10 Td (additional ) Tj ET Q q 0 0 0 rg BT 421.46 485.10 Td (information.) 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0.8 rg /GS0 gs 49.00 394.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 394.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 394.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 394.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 394.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 394.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 394.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 364.60 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 364.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 364.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 364.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 364.60 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 364.60 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 364.60 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 437.6 m 424 437.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 437.6 m 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0 j 3 M 428 333.6 m 493 333.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 335.6 m 562 335.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 333.6 m 562 333.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 441.17 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.45 441.17 Td (Y) Tj ET Q q 0 0 0 rg BT 414.17 441.17 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 428.16 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 428.17 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 428.17 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 428.17 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 414.27 Td (Property acquisitions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 414.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 414.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 414.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 399.27 Td (Proved) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 399.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 399.27 Td (2,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 399.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 399.27 Td (75,086) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 399.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 399.27 Td (4,867) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 384.27 Td (Unevaluated) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 384.27 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 384.27 Td (15,748) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 384.27 Td (8,771) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 369.27 Td (Exploration) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 369.27 Td (1,030) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 369.27 Td (297) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 369.27 Td (176) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 354.27 Td (Development) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 354.27 Td (338,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 354.27 Td (274,325) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 354.27 Td (251,597) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 339.27 Td (T) Tj ET Q q 0 0 0 rg BT 68.91 339.27 Td (otal costs incurred) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 142.22 343.80 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 339.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 339.27 Td (341,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 339.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 339.27 Td (365,456) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 339.27 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 339.27 Td (265,41) Tj ET Q q 0 0 0 rg BT 553.15 339.27 Td (1) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.10 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 311.10 Td (Capitalized ) Tj ET Q q 0 0 0 rg BT 115.16 311.10 Td (general ) Tj ET Q q 0 0 0 rg BT 146.70 311.10 Td (and ) Tj ET Q q 0 0 0 rg BT 163.26 311.10 Td (administrative ) Tj ET Q q 0 0 0 rg BT 222.59 311.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 244.71 311.10 Td (that ) Tj ET Q q 0 0 0 rg BT 261.83 311.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 294.49 311.10 Td (relate ) Tj ET Q q 0 0 0 rg BT 318.82 311.10 Td (to ) Tj ET Q q 0 0 0 rg BT 328.72 311.10 Td (exploration ) Tj ET Q q 0 0 0 rg BT 376.38 311.10 Td (and ) Tj ET Q q 0 0 0 rg BT 392.94 311.10 Td (development ) Tj ET Q q 0 0 0 rg BT 446.71 311.10 Td (activities ) Tj ET Q q 0 0 0 rg BT 484.93 311.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 506.48 311.10 Td ($37.2 ) Tj ET Q q 0 0 0 rg BT 531.11 311.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 560.00 311.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 299.10 Td ($41.1 ) Tj ET Q q 0 0 0 rg BT 92.50 299.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.39 299.10 Td ( ) Tj ET Q q 0 0 0 rg BT 123.89 299.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 140.83 299.10 Td ($48.4 ) Tj ET Q q 0 0 0 rg BT 165.83 299.10 Td (million) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 194.72 299.10 Td ( ) Tj ET Q q 0 0 0 rg BT 197.22 299.10 Td (for ) Tj ET Q q 0 0 0 rg BT 211.38 299.10 Td (the ) Tj ET Q q 0 0 0 rg BT 226.10 299.10 Td (years ) Tj ET Q q 0 0 0 rg BT 249.70 299.10 Td (ended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 276.07 299.10 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 334.66 299.10 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 354.66 299.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.66 299.10 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.66 299.10 Td ( ) Tj ET Q q 0 0 0 rg BT 382.16 299.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 399.10 299.10 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 419.10 299.10 Td (, ) Tj ET Q q 0 0 0 rg BT 424.10 299.10 Td (respectively) Tj ET Q q 0 0 0 rg BT 471.76 299.10 Td (.) Tj ET Q endstream endobj 199 0 obj <> endobj 200 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 225.40 736.60 Td (Unaudited Supplementary Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 301.00 30.60 Td (99) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 713.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 65.33 713.25 Td (and ) Tj ET Q q 0 0 0 rg BT 83.96 713.25 Td (Natural ) Tj ET Q q 0 0 0 rg BT 119.79 713.25 Td (Gas ) Tj ET Q q 0 0 0 rg BT 138.96 713.25 Td (Operating ) Tj ET Q q 0 0 0 rg BT 185.34 713.25 Td (Results) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 689.25 Td (Results ) Tj ET Q q 0 0 0 rg BT 99.47 689.25 Td (of ) Tj ET Q q 0 0 0 rg BT 110.33 689.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 154.51 689.25 Td (from ) Tj ET Q q 0 0 0 rg BT 176.48 689.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 189.56 689.25 Td (and ) Tj ET Q q 0 0 0 rg BT 206.52 689.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 236.81 689.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 252.67 689.25 Td (producing ) Tj ET Q q 0 0 0 rg BT 295.74 689.25 Td (activities, ) Tj ET Q q 0 0 0 rg BT 336.87 689.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 378.82 689.25 Td (corporate ) Tj ET Q q 0 0 0 rg BT 419.10 689.25 Td (overhead ) Tj ET Q q 0 0 0 rg BT 458.28 689.25 Td (and ) Tj ET Q q 0 0 0 rg BT 475.24 689.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 507.20 689.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 532.23 689.25 Td (were ) Tj ET Q q 0 0 0 rg BT 554.18 689.25 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 677.25 Td (follows:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.00 640.75 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 640.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 640.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 640.75 4.00 -15.00 re f 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/GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 570.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 540.75 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 540.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 540.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 540.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 540.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 540.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 540.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 510.75 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 356.00 510.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 360.00 510.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 425.00 510.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 429.00 510.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 494.00 510.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 498.00 510.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.00 480.75 306.00 -15.00 re 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[] 0 d 0 J 0 j 3 M 429 653.75 m 494 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 494 653.75 m 498 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 653.75 m 563 653.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 640.75 m 356 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 640.75 m 425 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 640.75 m 494 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 640.75 m 563 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 640.75 m 425 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 640.75 m 494 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 640.75 m 563 640.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 510.75 m 425 510.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 510.75 m 494 510.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 510.75 m 563 510.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 480.75 m 425 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 480.75 m 494 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 480.75 m 563 480.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 466.75 m 425 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 360 464.75 m 425 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 466.75 m 494 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 429 464.75 m 494 464.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 466.75 m 563 466.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 498 464.75 m 563 464.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 657.32 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 408.45 657.32 Td (Y) Tj ET Q q 0 0 0 rg BT 415.17 657.32 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 52.50 644.31 Td (In thousands, except per BOE data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 382.00 644.32 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 451.00 644.32 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 520.00 644.32 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 630.42 Td (Oil, natural gas, and related product sales) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 630.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.15 630.42 Td (1,422,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 630.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.15 630.42 Td (1,089,666) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 630.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 630.42 Td (935,751) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 615.42 Td (Lease operating expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 615.42 Td (489,720) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 615.42 Td (447,799) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 615.42 Td (414,937) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 600.42 Td (Marketing expenses, net of third-party purchases, and plant operating) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 590.42 Td (expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 590.42 Td (39,147) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 590.42 Td (39,617) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 590.42 Td (45,151) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 575.42 Td (Production and ad valorem taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 575.42 Td (96,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 575.42 Td (79,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 575.42 Td (68,878) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 560.42 Td (Depletion, depreciation, and amortization) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 560.42 Td (144,423) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 560.42 Td (134,721) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 560.42 Td (169,550) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 545.42 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 66.39 543.99 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 69.64 545.42 Td ( properties and pipelines depletion and depreciation) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 276.24 549.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 393.65 545.42 Td (48,792) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 545.42 Td (49,241) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 531.65 545.42 Td (50,573) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 530.42 Td (W) Tj ET Q q 0 0 0 rg BT 61.74 530.42 Td (rite-down of oil and natural gas properties) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 411.15 530.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 480.15 530.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 530.42 Td (810,921) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 515.42 Td (Commodity derivatives expense \(income\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 390.30 515.47 Td (\(21,087) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 421.15 515.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 515.42 Td (77,576) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 526.65 515.42 Td (127,944) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 500.42 Td (Net operating income \(loss\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 500.42 Td (625,005) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 500.42 Td (261,514) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 500.47 Td (\(752,203) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 500.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 485.42 Td (Income tax provision \(benefit\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 485.42 Td (156,251) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 462.65 485.42 Td (99,375) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 485.47 Td (\(285,837) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 485.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 64.50 470.42 Td (Results of operations from oil and natural gas producing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 470.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 388.65 470.42 Td (468,754) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 470.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 457.65 470.42 Td (162,139) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 470.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 523.30 470.47 Td (\(466,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 559.15 470.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 440.42 Td (Depletion, depreciation, and amortization per BOE) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 362.50 440.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 403.65 440.42 Td (8.77) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.50 440.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 472.65 440.42 Td (8.36) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 500.50 440.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 541.65 440.42 Td (9.40) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 412.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 412.25 Td (Represents ) Tj ET Q q 0 0 0 rg BT 113.58 412.25 Td (an ) Tj ET Q q 0 0 0 rg BT 125.22 412.25 Td (allocation ) Tj ET Q q 0 0 0 rg BT 166.86 412.25 Td (of ) Tj ET Q q 0 0 0 rg BT 177.39 412.25 Td (the ) Tj ET Q q 0 0 0 rg BT 191.81 412.25 Td (depletion ) Tj ET Q q 0 0 0 rg BT 231.23 412.25 Td (and ) Tj ET Q q 0 0 0 rg BT 247.87 412.25 Td (depreciation ) Tj ET Q q 0 0 0 rg BT 299.50 412.25 Td (of ) Tj ET Q q 0 0 0 rg BT 310.03 412.25 Td (our ) Tj ET Q q 0 0 0 rg BT 325.57 412.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 339.46 410.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 342.71 412.25 Td ( ) Tj ET Q q 0 0 0 rg BT 344.91 412.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 387.10 412.25 Td (and ) Tj ET Q q 0 0 0 rg BT 403.75 412.25 Td (pipelines ) Tj ET Q q 0 0 0 rg BT 442.05 412.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 485.35 412.25 Td (with ) Tj ET Q q 0 0 0 rg BT 505.33 412.25 Td (our ) Tj ET Q q 0 0 0 rg BT 520.87 412.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 551.95 412.25 Td (oil ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 400.25 Td (producing ) Tj ET Q q 0 0 0 rg BT 110.55 400.25 Td (activities.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 376.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 65.33 376.25 Td (and ) Tj ET Q q 0 0 0 rg BT 83.96 376.25 Td (Natural ) Tj ET Q q 0 0 0 rg BT 119.79 376.25 Td (Gas ) Tj ET Q q 0 0 0 rg BT 138.96 376.25 Td (Reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 352.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 85.56 352.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 116.95 352.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 131.13 352.25 Td (and ) Tj ET Q q 0 0 0 rg BT 149.19 352.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 180.58 352.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 197.53 352.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 230.02 352.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 270.86 352.25 Td (for ) Tj ET Q q 0 0 0 rg BT 286.14 352.25 Td (all ) Tj ET Q q 0 0 0 rg BT 299.76 352.25 Td (years ) Tj ET Q q 0 0 0 rg BT 324.48 352.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 366.42 352.25 Td (were ) Tj ET Q q 0 0 0 rg BT 389.47 352.25 Td (prepared ) Tj ET Q q 0 0 0 rg BT 428.07 352.25 Td (by ) Tj ET Q q 0 0 0 rg BT 441.69 352.25 Td (DeGolyer ) Tj ET Q q 0 0 0 rg BT 484.75 352.25 Td (and ) Tj ET Q q 0 0 0 rg BT 502.81 352.25 Td (MacNaughton, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 340.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 101.07 340.25 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 144.32 340.25 Td (engineers ) Tj ET Q q 0 0 0 rg BT 185.33 340.25 Td (located ) Tj ET Q q 0 0 0 rg BT 216.91 340.25 Td (in ) Tj ET Q q 0 0 0 rg BT 227.39 340.25 Td (Dallas, ) Tj ET Q q 0 0 0 rg BT 257.94 340.25 Td (T) Tj ET Q q 0 0 0 rg BT 263.35 340.25 Td (exas.��) Tj ET Q q 0 0 0 rg BT 288.44 340.25 Td (These ) Tj ET Q q 0 0 0 rg BT 315.02 340.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 328.28 340.25 Td (and ) Tj ET Q q 0 0 0 rg BT 345.42 340.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 375.88 340.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 391.91 340.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 423.48 340.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 463.40 340.25 Td (do ) Tj ET Q q 0 0 0 rg BT 476.10 340.25 Td (not ) Tj ET Q q 0 0 0 rg BT 491.58 340.25 Td (include ) Tj ET Q q 0 0 0 rg BT 523.71 340.25 Td (any ) Tj ET Q q 0 0 0 rg BT 540.85 340.25 Td (value ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 328.25 Td (for ) Tj ET Q q 0 0 0 rg BT 63.97 328.25 Td (probable ) Tj ET Q q 0 0 0 rg BT 101.77 328.25 Td (or ) Tj ET Q q 0 0 0 rg BT 112.91 328.25 Td (possible ) Tj ET Q q 0 0 0 rg BT 148.50 328.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 184.07 328.25 Td (that ) Tj ET Q q 0 0 0 rg BT 201.88 328.25 Td (may ) Tj ET Q q 0 0 0 rg BT 221.91 328.25 Td (exist, ) Tj ET Q q 0 0 0 rg BT 246.10 328.25 Td (nor ) Tj ET Q q 0 0 0 rg BT 262.25 328.25 Td (do ) Tj ET Q q 0 0 0 rg BT 275.06 328.25 Td (they ) Tj ET Q q 0 0 0 rg BT 295.08 328.25 Td (include ) Tj ET Q q 0 0 0 rg BT 327.33 328.25 Td (any ) Tj ET Q q 0 0 0 rg BT 344.58 328.25 Td (value ) Tj ET Q q 0 0 0 rg BT 369.05 328.25 Td (for ) Tj ET Q q 0 0 0 rg BT 383.52 328.25 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 437.42 328.25 Td (acreage.��) Tj ET Q q 0 0 0 rg BT 475.27 328.25 Td (The ) Tj ET Q q 0 0 0 rg BT 493.62 328.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 525.30 328.25 Td (estimates ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 316.25 Td (represent ) Tj ET Q q 0 0 0 rg BT 87.95 316.25 Td (our ) Tj ET Q q 0 0 0 rg BT 103.08 316.25 Td (net ) Tj ET Q q 0 0 0 rg BT 117.09 316.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 150.54 316.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 181.78 316.25 Td (in ) Tj ET Q q 0 0 0 rg BT 191.35 316.25 Td (our ) Tj ET Q q 0 0 0 rg BT 206.49 316.25 Td (properties.��See ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 270.21 316.25 Td (Standar) Tj ET Q q 0 0 0 rg BT 301.51 316.25 Td (dized ) Tj ET Q q 0 0 0 rg BT 324.42 316.25 Td (Measur) Tj ET Q q 0 0 0 rg BT 354.60 316.25 Td (e ) Tj ET Q q 0 0 0 rg BT 360.84 316.25 Td (of ) Tj ET Q q 0 0 0 rg BT 370.42 316.25 Td (Discounted ) Tj ET Q q 0 0 0 rg BT 417.76 316.25 Td (Futur) Tj ET Q q 0 0 0 rg BT 440.17 316.25 Td (e ) Tj ET Q q 0 0 0 rg BT 446.41 316.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 462.10 316.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 484.46 316.25 Td (Flows ) Tj ET Q q 0 0 0 rg BT 510.71 316.25 Td (and ) Tj ET Q q 0 0 0 rg BT 527.51 316.25 Td (Changes ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 304.25 Td (Ther) Tj ET Q q 0 0 0 rg BT 68.02 304.25 Td (ein ) Tj ET Q q 0 0 0 rg BT 83.03 304.25 Td (Relating ) Tj ET Q q 0 0 0 rg BT 119.71 304.25 Td (to ) Tj ET Q q 0 0 0 rg BT 130.28 304.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 139.91 304.25 Td (oved ) Tj ET Q q 0 0 0 rg BT 161.58 304.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 177.16 304.25 Td (and ) Tj ET Q q 0 0 0 rg BT 194.95 304.25 Td (Natural ) Tj ET Q q 0 0 0 rg BT 228.87 304.25 Td (Gas ) Tj ET Q q 0 0 0 rg BT 247.78 304.25 Td (Reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 283.31 304.25 Td ( ) Tj ET Q q 0 0 0 rg BT 286.11 304.25 Td (below ) Tj ET Q q 0 0 0 rg BT 313.34 304.25 Td (for ) Tj ET Q q 0 0 0 rg BT 327.80 304.25 Td (a ) Tj ET Q q 0 0 0 rg BT 335.03 304.25 Td (discussion ) Tj ET Q q 0 0 0 rg BT 379.50 304.25 Td (of ) Tj ET Q q 0 0 0 rg BT 390.62 304.25 Td (the ) Tj ET Q q 0 0 0 rg BT 405.64 304.25 Td (ef) Tj ET Q q 0 0 0 rg BT 413.22 304.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 431.00 304.25 Td (of ) Tj ET Q q 0 0 0 rg BT 442.13 304.25 Td (the ) Tj ET Q q 0 0 0 rg BT 457.14 304.25 Td (dif) Tj ET Q q 0 0 0 rg BT 468.07 304.25 Td (ferent ) Tj ET Q q 0 0 0 rg BT 494.18 304.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 520.85 304.25 Td (on ) Tj ET Q q 0 0 0 rg BT 533.65 304.25 Td (reserve ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 292.25 Td (quantities ) Tj ET Q q 0 0 0 rg BT 91.55 292.25 Td (and ) Tj ET Q q 0 0 0 rg BT 109.15 292.25 Td (values.��Operating ) Tj ET Q q 0 0 0 rg BT 185.35 292.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 211.02 292.25 Td (production ) Tj ET Q q 0 0 0 rg BT 257.51 292.25 Td (and ) Tj ET Q q 0 0 0 rg BT 275.12 292.25 Td (ad ) Tj ET Q q 0 0 0 rg BT 287.72 292.25 Td (valorem ) Tj ET Q q 0 0 0 rg BT 323.65 292.25 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 349.86 292.25 Td (and ) Tj ET Q q 0 0 0 rg BT 367.47 292.25 Td (future ) Tj ET Q q 0 0 0 rg BT 394.51 292.25 Td (development ) Tj ET Q q 0 0 0 rg BT 449.33 292.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 472.50 292.25 Td (were ) Tj ET Q q 0 0 0 rg BT 495.09 292.25 Td (based ) Tj ET Q q 0 0 0 rg BT 521.03 292.25 Td (on ) Tj ET Q q 0 0 0 rg BT 534.19 292.25 Td (current ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 280.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 72.00 280.25 Td (as ) Tj ET Q q 0 0 0 rg BT 82.83 280.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 93.66 280.25 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 152.24 280.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 172.24 280.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 256.25 Td (There ) Tj ET Q q 0 0 0 rg BT 93.93 256.25 Td (are ) Tj ET Q q 0 0 0 rg BT 109.25 256.25 Td (numerous ) Tj ET Q q 0 0 0 rg BT 151.81 256.25 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 206.01 256.25 Td (inherent ) Tj ET Q q 0 0 0 rg BT 241.89 256.25 Td (in ) Tj ET Q q 0 0 0 rg BT 252.78 256.25 Td (estimating ) Tj ET Q q 0 0 0 rg BT 297.56 256.25 Td (quantities ) Tj ET Q q 0 0 0 rg BT 339.56 256.25 Td (of ) Tj ET Q q 0 0 0 rg BT 351.00 256.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 381.88 256.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 417.76 256.25 Td (and ) Tj ET Q q 0 0 0 rg BT 435.31 256.25 Td (in ) Tj ET Q q 0 0 0 rg BT 446.21 256.25 Td (projecting ) Tj ET Q q 0 0 0 rg BT 489.86 256.25 Td (the ) Tj ET Q q 0 0 0 rg BT 505.20 256.25 Td (future ) Tj ET Q q 0 0 0 rg BT 532.19 256.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 554.18 256.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 244.25 Td (production ) Tj ET Q q 0 0 0 rg BT 96.29 244.25 Td (and ) Tj ET Q q 0 0 0 rg BT 114.19 244.25 Td (timing ) Tj ET Q q 0 0 0 rg BT 143.76 244.25 Td (of ) Tj ET Q q 0 0 0 rg BT 155.55 244.25 Td (development ) Tj ET Q q 0 0 0 rg BT 210.67 244.25 Td (expenditures.��) Tj ET Q q 0 0 0 rg BT 269.08 244.25 Td (The ) Tj ET Q q 0 0 0 rg BT 288.09 244.25 Td (following ) Tj ET Q q 0 0 0 rg BT 330.44 244.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 362.77 244.25 Td (data ) Tj ET Q q 0 0 0 rg BT 382.88 244.25 Td (represents ) Tj ET Q q 0 0 0 rg BT 426.88 244.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 467.56 244.25 Td (only ) Tj ET Q q 0 0 0 rg BT 488.80 244.25 Td (and ) Tj ET Q q 0 0 0 rg BT 506.70 244.25 Td (should ) Tj ET Q q 0 0 0 rg BT 536.83 244.25 Td (not ) Tj ET Q q 0 0 0 rg BT 553.07 244.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 232.25 Td (construed ) Tj ET Q q 0 0 0 rg BT 90.70 232.25 Td (as ) Tj ET Q q 0 0 0 rg BT 101.34 232.25 Td (being ) Tj ET Q q 0 0 0 rg BT 125.88 232.25 Td (exact.��Moreover) Tj ET Q q 0 0 0 rg BT 193.50 232.25 Td (, ) Tj ET Q q 0 0 0 rg BT 198.32 232.25 Td (the ) Tj ET Q q 0 0 0 rg BT 212.85 232.25 Td (present ) Tj ET Q q 0 0 0 rg BT 244.05 232.25 Td (values ) Tj ET Q q 0 0 0 rg BT 271.92 232.25 Td (should ) Tj ET Q q 0 0 0 rg BT 300.90 232.25 Td (not ) Tj ET Q q 0 0 0 rg BT 316.00 232.25 Td (be ) Tj ET Q q 0 0 0 rg BT 327.76 232.25 Td (construed ) Tj ET Q q 0 0 0 rg BT 368.95 232.25 Td (as ) Tj ET Q q 0 0 0 rg BT 379.60 232.25 Td (the ) Tj ET Q q 0 0 0 rg BT 394.14 232.25 Td (current ) Tj ET Q q 0 0 0 rg BT 424.77 232.25 Td (market ) Tj ET Q q 0 0 0 rg BT 454.85 232.25 Td (value ) Tj ET Q q 0 0 0 rg BT 478.83 232.25 Td (of ) Tj ET Q q 0 0 0 rg BT 489.47 232.25 Td (our ) Tj ET Q q 0 0 0 rg BT 505.12 232.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 518.00 232.25 Td (and ) Tj ET Q q 0 0 0 rg BT 534.75 232.25 Td (natural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 220.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 65.73 220.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 101.38 220.25 Td (or ) Tj ET Q q 0 0 0 rg BT 112.61 220.25 Td (the ) Tj ET Q q 0 0 0 rg BT 127.72 220.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 150.62 220.25 Td (that ) Tj ET Q q 0 0 0 rg BT 168.51 220.25 Td (would ) Tj ET Q q 0 0 0 rg BT 196.41 220.25 Td (be ) Tj ET Q q 0 0 0 rg BT 208.75 220.25 Td (incurred ) Tj ET Q q 0 0 0 rg BT 244.96 220.25 Td (to ) Tj ET Q q 0 0 0 rg BT 255.63 220.25 Td (obtain ) Tj ET Q q 0 0 0 rg BT 283.52 220.25 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 328.07 220.25 Td (reserves.��Estimates ) Tj ET Q q 0 0 0 rg BT 410.11 220.25 Td (of ) Tj ET Q q 0 0 0 rg BT 421.34 220.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 456.99 220.25 Td (as ) Tj ET Q q 0 0 0 rg BT 468.22 220.25 Td (of ) Tj ET Q q 0 0 0 rg BT 479.45 220.25 Td (year) Tj ET Q q 0 0 0 rg BT 496.45 220.25 Td (-end ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 517.12 220.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 537.12 220.25 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.52 220.25 Td (2017) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET 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0 0 rg BT 558.06 208.25 Td (a ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 196.25 Td (field-by-field ) Tj ET Q q 0 0 0 rg BT 105.15 196.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 127.49 196.25 Td (on ) Tj ET Q q 0 0 0 rg BT 139.83 196.25 Td (the ) Tj ET Q q 0 0 0 rg BT 154.38 196.25 Td (first ) Tj ET Q q 0 0 0 rg BT 172.83 196.25 Td (day ) Tj ET Q q 0 0 0 rg BT 189.61 196.25 Td (of ) Tj ET Q q 0 0 0 rg BT 200.28 196.25 Td (each ) Tj ET Q q 0 0 0 rg BT 220.93 196.25 Td (month ) Tj ET Q q 0 0 0 rg BT 248.83 196.25 Td (within ) Tj ET Q q 0 0 0 rg BT 276.72 196.25 Td (the ) Tj ET Q q 0 0 0 rg BT 291.28 196.25 Td (applicable ) Tj ET Q q 0 0 0 rg BT 334.71 196.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 358.70 196.25 Td (12-month ) Tj ET Q q 0 0 0 rg BT 399.92 196.25 Td (period.��) Tj ET Q q 0 0 0 rg BT 432.42 196.25 Td (All ) Tj ET Q q 0 0 0 rg BT 447.54 196.25 Td (of ) Tj ET Q q 0 0 0 rg BT 458.21 196.25 Td (our ) Tj ET Q q 0 0 0 rg BT 473.88 196.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 508.97 196.25 Td (are ) Tj ET Q q 0 0 0 rg BT 523.52 196.25 Td (located ) Tj ET Q q 0 0 0 rg BT 554.73 196.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 184.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 184.25 Td (United ) Tj ET Q q 0 0 0 rg BT 93.93 184.25 Td (States.) Tj ET Q endstream endobj 201 0 obj <> endobj 202 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 225.40 736.60 Td (Unaudited Supplementary Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 30.60 Td (100) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 713.25 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 95.33 713.25 Td (Quantities ) Tj ET Q q 0 0 0 rg BT 142.28 713.25 Td (of ) Tj ET Q q 0 0 0 rg BT 153.11 713.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 163.47 713.25 Td (oved ) Tj ET Q q 0 0 0 rg BT 185.97 713.25 Td (Reserves) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 651.75 99.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 148.00 651.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 152.00 651.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg 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/GS0 gs 49.00 605.75 99.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 148.00 605.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 152.00 605.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 194.00 605.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 198.00 605.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 240.00 605.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 244.00 605.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 605.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 605.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 332.00 605.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 336.00 605.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 378.00 605.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 605.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 605.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 605.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 470.00 605.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 474.00 605.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 516.00 605.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 520.00 605.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 559.75 99.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 148.00 559.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 152.00 559.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 194.00 559.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 198.00 559.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 240.00 559.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 244.00 559.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 559.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 559.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 332.00 559.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 336.00 559.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 378.00 559.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 559.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 559.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 559.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 470.00 559.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 474.00 559.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 516.00 559.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 520.00 559.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 513.75 99.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 148.00 513.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 152.00 513.75 42.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 194.00 513.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 198.00 513.75 42.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 240.00 513.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 244.00 513.75 42.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 513.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 513.75 42.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 332.00 513.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 336.00 513.75 42.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 378.00 513.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 513.75 42.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 513.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 513.75 42.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 470.00 513.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 474.00 513.75 42.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 516.00 513.75 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 520.00 513.75 42.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 484.75 99.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 148.00 484.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 152.00 484.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 194.00 484.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 198.00 484.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 240.00 484.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 244.00 484.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 484.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 484.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 332.00 484.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 336.00 484.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 378.00 484.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 382.00 484.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 484.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 484.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 470.00 484.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 474.00 484.75 42.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 516.00 484.75 4.00 -23.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 520.00 484.75 42.00 -23.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152 688.75 m 194 688.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194 688.75 m 198 688.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198 688.75 m 240 688.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 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688.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152 674.75 m 194 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 194 674.75 m 198 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198 674.75 m 240 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 240 674.75 m 244 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 674.75 m 286 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 674.75 m 332 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 332 674.75 m 336 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336 674.75 m 378 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 378 674.75 m 382 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 674.75 m 424 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 674.75 m 470 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 470 674.75 m 474 674.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 674.75 m 516 674.75 l s 0 0 0 RG /GS0 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513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 382 513.75 m 424 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 513.75 m 470 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 513.75 m 516 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 513.75 m 562 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152 513.75 m 194 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152 500.75 m 194 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 152 498.75 m 194 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198 513.75 m 240 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198 500.75 m 240 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 198 498.75 m 240 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 513.75 m 286 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 500.75 m 286 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 244 498.75 m 286 498.75 l s 0 0 0 RG /GS0 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0 j 3 M 474 498.75 m 516 498.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 513.75 m 562 513.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 500.75 m 562 500.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 520 498.75 m 562 498.75 l s BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 693.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 309.20 693.21 Td (Y) Tj ET Q q 0 0 0 rg BT 315.25 693.21 Td (ear Ended December 31,) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 679.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 209.50 679.21 Td (2018) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 347.50 679.21 Td (2017) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 485.50 679.21 Td (2016) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 166.70 665.21 Td (Oil) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 159.00 656.21 Td (\(MBbl\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.50 665.21 Td (Gas) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 204.00 656.21 Td (\(MMcf\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 255.30 665.21 Td (T) Tj ET Q q 0 0 0 rg BT 260.48 665.21 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 248.50 656.21 Td (\(MBOE\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 304.70 665.21 Td (Oil) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 297.00 656.21 Td (\(MBbl\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.50 665.21 Td (Gas) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 342.00 656.21 Td (\(MMcf\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 393.30 665.21 Td (T) Tj ET Q q 0 0 0 rg BT 398.48 665.21 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 386.50 656.21 Td (\(MBOE\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 442.70 665.21 Td (Oil) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 435.00 656.21 Td (\(MBbl\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.50 665.21 Td (Gas) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 480.00 656.21 Td (\(MMcf\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 531.30 665.21 Td (T) Tj ET Q q 0 0 0 rg BT 536.17 665.21 Td (otal) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 524.50 656.21 Td (\(MBOE\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 642.21 Td (Balance at beginning of) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 633.21 Td (year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.25 633.21 Td (252,625) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.75 633.21 Td (42,721) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 253.25 633.21 Td (259,745) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.25 633.21 Td (247,103) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 633.21 Td (44,315) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.25 633.21 Td (254,489) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.25 633.21 Td (282,250) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.75 633.21 Td (38,305) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 633.21 Td (288,634) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 619.21 Td (Revisions of previous) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 610.21 Td (estimates) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 165.75 610.21 Td (21,658) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 216.25 610.21 Td (6,1) Tj ET Q q 0 0 0 rg BT 227.50 610.21 Td (15) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.75 610.21 Td (22,677) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 303.75 610.21 Td (14,352) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 354.25 610.21 Td (2,541) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 610.21 Td (14,775) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 610.21 Td (\(9,302) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.50 610.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.75 610.21 Td (16,289) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.25 610.21 Td (\(6,587) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 610.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 587.21 Td (Improved recovery) Tj ET Q BT /F1 9.00 Tf ET BT /F1 5.85 Tf ET q 0 0 0 rg BT 120.22 591.29 Td (\(1\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 170.25 587.21 Td (2,314) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 220.00 587.21 Td (\(157) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 236.50 587.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 262.25 587.21 Td (2,288) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 308.25 587.21 Td (1,936) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.50 587.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 400.25 587.21 Td (1,936) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 457.50 587.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 587.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.50 587.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 564.21 Td (Production) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 162.75 564.21 Td (\(21,364) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 190.50 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.25 564.21 Td (\(3,962) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 236.50 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 254.75 564.21 Td (\(22,024) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.50 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 300.75 564.21 Td (\(21,320) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 328.50 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 351.25 564.21 Td (\(4,135) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 374.50 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 392.75 564.21 Td (\(22,009) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 420.50 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 438.75 564.21 Td (\(22,487) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.50 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 564.21 Td (\(5,628) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.50 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 530.75 564.21 Td (\(23,425) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 564.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 550.21 Td (Acquisition of minerals) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 541.21 Td (in place) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 181.50 541.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 227.50 541.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 273.50 541.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 303.75 541.21 Td (10,554) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.50 541.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 541.21 Td (10,554) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 457.50 541.21 Td (36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 503.50 541.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 549.50 541.21 Td (36) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 518.21 Td (Sales of minerals in place) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 174.00 518.21 Td (\(191) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 190.50 518.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 213.25 518.21 Td (\(1,709) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 236.50 518.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 266.00 518.21 Td (\(476) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 282.50 518.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 319.50 518.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 365.50 518.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 411.50 518.21 Td (�) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 443.25 518.21 Td (\(3,394) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 466.50 518.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 489.25 518.21 Td (\(4,651) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 512.50 518.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 535.25 518.21 Td (\(4,169) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 558.50 518.21 Td (\)) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 504.21 Td (Balance at end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.25 504.21 Td (255,042) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.75 504.21 Td (43,008) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 253.25 504.21 Td (262,210) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.25 504.21 Td (252,625) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 504.21 Td (42,721) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.25 504.21 Td (259,745) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.25 504.21 Td (247,103) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.75 504.21 Td (44,315) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 504.21 Td (254,489) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 475.21 Td (Proved Developed) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 466.21 Td (Reserves � end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 161.25 466.21 Td (222,736) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 211.75 466.21 Td (42,912) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 253.25 466.21 Td (229,888) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 299.25 466.21 Td (222,531) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 349.75 466.21 Td (42,435) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 391.25 466.21 Td (229,603) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 437.25 466.21 Td (201,919) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 487.75 466.21 Td (43,955) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 529.25 466.21 Td (209,245) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 452.21 Td (Proved Undeveloped) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 51.50 443.21 Td (Reserves � end of year) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 165.75 443.21 Td (32,306) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 227.50 443.21 Td (96) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 257.75 443.21 Td (32,322) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 303.75 443.21 Td (30,094) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 361.00 443.21 Td (286) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 395.75 443.21 Td (30,142) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 441.75 443.21 Td (45,184) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 499.00 443.21 Td (360) Tj ET Q BT /F1 9.00 Tf ET q 0 0 0 rg BT 533.75 443.21 Td (45,244) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 415.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 415.25 Td (Improved ) Tj ET Q q 0 0 0 rg BT 109.27 415.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 147.14 415.25 Td (reflects ) Tj ET Q q 0 0 0 rg BT 179.46 415.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 211.22 415.25 Td (additions ) Tj ET Q q 0 0 0 rg BT 250.78 415.25 Td (that ) Tj ET Q q 0 0 0 rg BT 268.67 415.25 Td (result ) Tj ET Q q 0 0 0 rg BT 293.78 415.25 Td (from ) Tj ET Q q 0 0 0 rg BT 316.12 415.25 Td (the ) Tj ET Q q 0 0 0 rg BT 331.23 415.25 Td (application ) Tj ET Q q 0 0 0 rg BT 378.55 415.25 Td (of ) Tj ET Q q 0 0 0 rg BT 389.77 415.25 Td (secondary ) Tj ET Q q 0 0 0 rg BT 433.21 415.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 471.08 415.25 Td (methods ) Tj ET Q q 0 0 0 rg BT 507.86 415.25 Td (such ) Tj ET Q q 0 0 0 rg BT 529.08 415.25 Td (as ) Tj ET Q q 0 0 0 rg BT 540.31 415.25 Td (water ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 403.25 Td (flooding, ) Tj ET Q q 0 0 0 rg BT 105.86 403.25 Td (or ) Tj ET Q q 0 0 0 rg BT 116.16 403.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 147.01 403.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 183.96 403.25 Td (methods ) Tj ET Q q 0 0 0 rg BT 219.81 403.25 Td (such ) Tj ET Q q 0 0 0 rg BT 240.12 403.25 Td (as ) Tj ET Q q 0 0 0 rg BT 250.42 403.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 264.31 401.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 267.56 403.25 Td ( ) Tj ET Q q 0 0 0 rg BT 269.53 403.25 Td (flooding. ) Tj ET Q q 0 0 0 rg BT 307.89 403.25 Td (�In ) Tj ET Q q 0 0 0 rg BT 320.70 403.25 Td (order ) Tj ET Q q 0 0 0 rg BT 343.77 403.25 Td (to ) Tj ET Q q 0 0 0 rg BT 353.52 403.25 Td (recognize ) Tj ET Q q 0 0 0 rg BT 394.35 403.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 424.09 403.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 454.94 403.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 467.47 403.25 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 504.70 403.25 Td (we ) Tj ET Q q 0 0 0 rg BT 518.33 403.25 Td (must ) Tj ET Q q 0 0 0 rg BT 539.75 403.25 Td (either ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 391.25 Td (have ) Tj ET Q q 0 0 0 rg BT 88.60 391.25 Td (an ) Tj ET Q q 0 0 0 rg BT 100.27 391.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 113.05 391.25 Td (production ) Tj ET Q q 0 0 0 rg BT 158.60 391.25 Td (response ) Tj ET Q q 0 0 0 rg BT 195.82 391.25 Td (to ) Tj ET Q q 0 0 0 rg BT 205.83 391.25 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 219.72 389.82 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 222.97 391.25 Td ( ) Tj ET Q q 0 0 0 rg BT 225.19 391.25 Td (injections ) Tj ET Q q 0 0 0 rg BT 266.30 391.25 Td (or ) Tj ET Q q 0 0 0 rg BT 276.86 391.25 Td (the ) Tj ET Q q 0 0 0 rg BT 291.30 391.25 Td (field ) Tj ET Q q 0 0 0 rg BT 311.85 391.25 Td (must ) Tj ET Q q 0 0 0 rg BT 333.53 391.25 Td (be ) Tj ET Q q 0 0 0 rg BT 345.19 391.25 Td (analogous ) Tj ET Q q 0 0 0 rg BT 387.97 391.25 Td (to ) Tj ET Q q 0 0 0 rg BT 397.97 391.25 Td (an ) Tj ET Q q 0 0 0 rg BT 409.64 391.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 443.53 391.25 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 474.63 391.25 Td (flood. ) Tj ET Q q 0 0 0 rg BT 500.46 391.25 Td ( ) Tj ET Q q 0 0 0 rg BT 502.53 391.25 Td (The ) Tj ET Q q 0 0 0 rg BT 520.30 391.25 Td (magnitude ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 379.25 Td (of ) Tj ET Q q 0 0 0 rg BT 78.85 379.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 109.65 379.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 145.43 379.25 Td (that ) Tj ET Q q 0 0 0 rg BT 163.45 379.25 Td (we ) Tj ET Q q 0 0 0 rg BT 178.14 379.25 Td (can ) Tj ET Q q 0 0 0 rg BT 195.04 379.25 Td (book ) Tj ET Q q 0 0 0 rg BT 218.06 379.25 Td (in ) Tj ET Q q 0 0 0 rg BT 228.87 379.25 Td (any ) Tj ET Q q 0 0 0 rg BT 246.33 379.25 Td (given ) Tj ET Q q 0 0 0 rg BT 271.57 379.25 Td (year ) Tj ET Q q 0 0 0 rg BT 291.80 379.25 Td (will ) Tj ET Q q 0 0 0 rg BT 310.39 379.25 Td (depend ) Tj ET Q q 0 0 0 rg BT 342.29 379.25 Td (on ) Tj ET Q q 0 0 0 rg BT 355.31 379.25 Td (our ) Tj ET Q q 0 0 0 rg BT 371.67 379.25 Td (progress ) Tj ET Q q 0 0 0 rg BT 408.57 379.25 Td (with ) Tj ET Q q 0 0 0 rg BT 429.38 379.25 Td (new ) Tj ET Q q 0 0 0 rg BT 449.06 379.25 Td (floods ) Tj ET Q q 0 0 0 rg BT 477.09 379.25 Td (and ) Tj ET Q q 0 0 0 rg BT 494.55 379.25 Td (the ) Tj ET Q q 0 0 0 rg BT 509.79 379.25 Td (timing ) Tj ET Q q 0 0 0 rg BT 538.93 379.25 Td (of ) Tj ET Q q 0 0 0 rg BT 550.29 379.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 367.25 Td (production ) Tj ET Q q 0 0 0 rg BT 113.33 367.25 Td (response. ) Tj ET Q q 0 0 0 rg BT 153.32 367.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 343.25 Td (Revisions ) Tj ET Q q 0 0 0 rg BT 109.88 343.25 Td (of ) Tj ET Q q 0 0 0 rg BT 121.15 343.25 Td (previous ) Tj ET Q q 0 0 0 rg BT 158.52 343.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 198.67 343.25 Td (during ) Tj ET Q q 0 0 0 rg BT 227.72 343.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 250.65 343.25 Td (and ) Tj ET Q q 0 0 0 rg BT 268.03 343.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 290.96 343.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 331.11 343.25 Td (reflect ) Tj ET Q q 0 0 0 rg BT 359.58 343.25 Td (increases ) Tj ET Q q 0 0 0 rg BT 399.16 343.25 Td (in ) Tj ET Q q 0 0 0 rg BT 409.88 343.25 Td (commodity ) Tj ET Q q 0 0 0 rg BT 458.36 343.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 485.18 343.25 Td (between ) Tj ET Q q 0 0 0 rg BT 521.43 343.25 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 331.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 64.50 331.25 Td (2016 ) Tj ET Q q 0 0 0 rg BT 87.00 331.25 Td (and ) Tj ET Q q 0 0 0 rg BT 103.94 331.25 Td (2018.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 307.25 Td (There ) Tj ET Q q 0 0 0 rg BT 93.54 307.25 Td (were ) Tj ET Q q 0 0 0 rg BT 115.70 307.25 Td (no ) Tj ET Q q 0 0 0 rg BT 128.43 307.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 173.36 307.25 Td (additions, ) Tj ET Q q 0 0 0 rg BT 215.26 307.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 257.42 307.25 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 307.92 307.25 Td (of ) Tj ET Q q 0 0 0 rg BT 318.97 307.25 Td (minerals ) Tj ET Q q 0 0 0 rg BT 356.14 307.25 Td (in ) Tj ET Q q 0 0 0 rg BT 366.64 307.25 Td (place, ) Tj ET Q q 0 0 0 rg BT 392.96 307.25 Td (to ) Tj ET Q q 0 0 0 rg BT 403.47 307.25 Td (our ) Tj ET Q q 0 0 0 rg BT 419.52 307.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 432.81 307.25 Td (and ) Tj ET Q q 0 0 0 rg BT 449.97 307.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 480.46 307.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 496.52 307.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 532.01 307.25 Td (in ) Tj ET Q q 0 0 0 rg BT 542.51 307.25 Td (2017 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 295.25 Td (or ) Tj ET Q q 0 0 0 rg BT 60.64 295.25 Td (2016, ) Tj ET Q q 0 0 0 rg BT 85.94 295.25 Td (as ) Tj ET Q q 0 0 0 rg BT 97.08 295.25 Td (the ) Tj ET Q q 0 0 0 rg BT 112.10 295.25 Td (magnitude ) Tj ET Q q 0 0 0 rg BT 157.11 295.25 Td (of ) Tj ET Q q 0 0 0 rg BT 168.25 295.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 198.82 295.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 234.39 295.25 Td (that ) Tj ET Q q 0 0 0 rg BT 252.19 295.25 Td (we ) Tj ET Q q 0 0 0 rg BT 266.65 295.25 Td (can ) Tj ET Q q 0 0 0 rg BT 283.34 295.25 Td (book ) Tj ET Q q 0 0 0 rg BT 306.14 295.25 Td (in ) Tj ET Q q 0 0 0 rg BT 316.72 295.25 Td (any ) Tj ET Q q 0 0 0 rg BT 333.97 295.25 Td (given ) Tj ET Q q 0 0 0 rg BT 358.99 295.25 Td (year ) Tj ET Q q 0 0 0 rg BT 379.00 295.25 Td (depends ) Tj ET Q q 0 0 0 rg BT 414.58 295.25 Td (on ) Tj ET Q q 0 0 0 rg BT 427.38 295.25 Td (our ) Tj ET Q q 0 0 0 rg BT 443.52 295.25 Td (progress ) Tj ET Q q 0 0 0 rg BT 480.20 295.25 Td (with ) Tj ET Q q 0 0 0 rg BT 500.79 295.25 Td (new ) Tj ET Q q 0 0 0 rg BT 520.25 295.25 Td (floods ) Tj ET Q q 0 0 0 rg BT 548.06 295.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 283.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.45 283.25 Td (timing ) Tj ET Q q 0 0 0 rg BT 93.29 283.25 Td (of ) Tj ET Q q 0 0 0 rg BT 104.35 283.25 Td (the ) Tj ET Q q 0 0 0 rg BT 119.30 283.25 Td (production ) Tj ET Q q 0 0 0 rg BT 165.36 283.25 Td (response, ) Tj ET Q q 0 0 0 rg BT 205.58 283.25 Td (and ) Tj ET Q q 0 0 0 rg BT 222.75 283.25 Td (we ) Tj ET Q q 0 0 0 rg BT 237.14 283.25 Td (initiated ) Tj ET Q q 0 0 0 rg BT 272.64 283.25 Td (no ) Tj ET Q q 0 0 0 rg BT 285.37 283.25 Td (new ) Tj ET Q q 0 0 0 rg BT 304.76 283.25 Td (floods ) Tj ET Q q 0 0 0 rg BT 332.49 283.25 Td (in ) Tj ET Q q 0 0 0 rg BT 343.00 283.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 368.23 283.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 390.96 283.25 Td (or ) Tj ET Q q 0 0 0 rg BT 402.02 283.25 Td (2016. ) Tj ET Q q 0 0 0 rg BT 427.25 283.25 Td ( ) Tj ET Q q 0 0 0 rg BT 429.38 283.25 Td (Acquisitions ) Tj ET Q q 0 0 0 rg BT 482.67 283.25 Td (of ) Tj ET Q q 0 0 0 rg BT 493.73 283.25 Td (minerals ) Tj ET Q q 0 0 0 rg BT 530.90 283.25 Td (in ) Tj ET Q q 0 0 0 rg BT 541.40 283.25 Td (place ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 271.25 Td (during ) Tj ET Q q 0 0 0 rg BT 77.87 271.25 Td (2017 ) Tj ET Q q 0 0 0 rg BT 100.13 271.25 Td (were ) Tj ET Q q 0 0 0 rg BT 121.83 271.25 Td (primarily ) Tj ET Q q 0 0 0 rg BT 161.30 271.25 Td (related ) Tj ET Q q 0 0 0 rg BT 190.77 271.25 Td (to ) Tj ET Q q 0 0 0 rg BT 200.81 271.25 Td (our ) Tj ET Q q 0 0 0 rg BT 216.40 271.25 Td (non-operated ) Tj ET Q q 0 0 0 rg BT 271.42 271.25 Td (working ) Tj ET Q q 0 0 0 rg BT 307.01 271.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 338.71 271.25 Td (acquisitions ) Tj ET Q q 0 0 0 rg BT 388.75 271.25 Td (in ) Tj ET Q q 0 0 0 rg BT 398.79 271.25 Td (Salt ) Tj ET Q q 0 0 0 rg BT 416.61 271.25 Td (Creek ) Tj ET Q q 0 0 0 rg BT 442.75 271.25 Td (and ) Tj ET Q q 0 0 0 rg BT 459.29 271.25 Td (W) Tj ET Q q 0 0 0 rg BT 467.92 271.25 Td (est ) Tj ET Q q 0 0 0 rg BT 480.96 271.25 Td (Y) Tj ET Q q 0 0 0 rg BT 487.18 271.25 Td (ellow ) Tj ET Q q 0 0 0 rg BT 511.66 271.25 Td (Creek ) Tj ET Q q 0 0 0 rg BT 537.80 271.25 Td (fields.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 247.25 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 109.72 247.25 Td (Measur) Tj ET Q q 0 0 0 rg BT 142.31 247.25 Td (e ) Tj ET Q q 0 0 0 rg BT 149.74 247.25 Td (of ) Tj ET Q q 0 0 0 rg BT 161.06 247.25 Td (Discounted ) Tj ET Q q 0 0 0 rg BT 211.83 247.25 Td (Futur) Tj ET Q q 0 0 0 rg BT 236.65 247.25 Td (e ) Tj ET Q q 0 0 0 rg BT 244.08 247.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 262.06 247.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 286.72 247.25 Td (Flows ) Tj ET Q q 0 0 0 rg BT 314.71 247.25 Td (and ) Tj ET Q q 0 0 0 rg BT 333.82 247.25 Td (Changes ) Tj ET Q q 0 0 0 rg BT 373.27 247.25 Td (Ther) Tj ET Q q 0 0 0 rg BT 394.20 247.25 Td (ein ) Tj ET Q q 0 0 0 rg BT 409.97 247.25 Td (Relating ) Tj ET Q q 0 0 0 rg BT 449.07 247.25 Td (to ) Tj ET Q q 0 0 0 rg BT 460.39 247.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 470.75 247.25 Td (oved ) Tj ET Q q 0 0 0 rg BT 493.74 247.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 510.07 247.25 Td (and ) Tj ET Q q 0 0 0 rg BT 529.18 247.25 Td (Natural ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 235.25 Td (Gas ) Tj ET Q q 0 0 0 rg BT 68.67 235.25 Td (Reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 211.25 Td (The ) Tj ET Q q 0 0 0 rg BT 85.81 211.25 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 140.78 211.25 Td (Measure ) Tj ET Q q 0 0 0 rg BT 177.97 211.25 Td (of ) Tj ET Q q 0 0 0 rg BT 189.06 211.25 Td (Discounted ) Tj ET Q q 0 0 0 rg BT 237.37 211.25 Td (Future ) Tj ET Q q 0 0 0 rg BT 266.25 211.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 283.45 211.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 306.21 211.25 Td (Flows ) Tj ET Q q 0 0 0 rg BT 333.43 211.25 Td (and ) Tj ET Q q 0 0 0 rg BT 350.63 211.25 Td (Changes ) Tj ET Q q 0 0 0 rg BT 387.63 211.25 Td (Therein ) Tj ET Q q 0 0 0 rg BT 421.49 211.25 Td (Relating ) Tj ET Q q 0 0 0 rg BT 458.14 211.25 Td (to ) Tj ET Q q 0 0 0 rg BT 468.68 211.25 Td (Proved ) Tj ET Q q 0 0 0 rg BT 499.77 211.25 Td (Oil ) Tj ET Q q 0 0 0 rg BT 515.31 211.25 Td (and ) Tj ET Q q 0 0 0 rg BT 532.52 211.25 Td (Natural ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 199.25 Td (Gas ) Tj ET Q q 0 0 0 rg BT 67.13 199.25 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 105.32 199.25 Td (\(�Standardized ) Tj ET Q q 0 0 0 rg BT 167.37 199.25 Td (Measure�\) ) Tj ET Q q 0 0 0 rg BT 211.65 199.25 Td (does ) Tj ET Q q 0 0 0 rg BT 232.06 199.25 Td (not ) Tj ET Q q 0 0 0 rg BT 246.92 199.25 Td (purport ) Tj ET Q q 0 0 0 rg BT 278.44 199.25 Td (to ) Tj ET Q q 0 0 0 rg BT 288.30 199.25 Td (present ) Tj ET Q q 0 0 0 rg BT 319.26 199.25 Td (the ) Tj ET Q q 0 0 0 rg BT 333.56 199.25 Td (fair ) Tj ET Q q 0 0 0 rg BT 349.52 199.25 Td (market ) Tj ET Q q 0 0 0 rg BT 379.37 199.25 Td (value ) Tj ET Q q 0 0 0 rg BT 403.11 199.25 Td (of ) Tj ET Q q 0 0 0 rg BT 413.52 199.25 Td (our ) Tj ET Q q 0 0 0 rg BT 428.93 199.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 441.57 199.25 Td (and ) Tj ET Q q 0 0 0 rg BT 458.09 199.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 487.94 199.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 503.35 199.25 Td (properties.��) Tj ET Q q 0 0 0 rg BT 550.28 199.25 Td (An ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 187.25 Td (estimate ) Tj ET Q q 0 0 0 rg BT 85.89 187.25 Td (of ) Tj ET Q q 0 0 0 rg BT 97.29 187.25 Td (such ) Tj ET Q q 0 0 0 rg BT 118.68 187.25 Td (value ) Tj ET Q q 0 0 0 rg BT 143.41 187.25 Td (should ) Tj ET Q q 0 0 0 rg BT 173.15 187.25 Td (consider) Tj ET Q q 0 0 0 rg BT 206.62 187.25 Td (, ) Tj ET Q q 0 0 0 rg BT 212.19 187.25 Td (among ) Tj ET Q q 0 0 0 rg BT 242.47 187.25 Td (other ) Tj ET Q q 0 0 0 rg BT 266.09 187.25 Td (factors, ) Tj ET Q q 0 0 0 rg BT 298.86 187.25 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 345.80 187.25 Td (future ) Tj ET Q q 0 0 0 rg BT 372.74 187.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 399.69 187.25 Td (of ) Tj ET Q q 0 0 0 rg BT 411.09 187.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 424.71 187.25 Td (and ) Tj ET Q q 0 0 0 rg BT 442.22 187.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 473.05 187.25 Td (gas, ) Tj ET Q q 0 0 0 rg BT 491.95 187.25 Td (the ) Tj ET Q q 0 0 0 rg BT 507.23 187.25 Td (probability ) Tj ET Q q 0 0 0 rg BT 554.18 187.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 175.25 Td (recoveries ) Tj ET Q q 0 0 0 rg BT 94.12 175.25 Td (in ) Tj ET Q q 0 0 0 rg BT 105.43 175.25 Td (excess ) Tj ET Q q 0 0 0 rg BT 135.06 175.25 Td (of ) Tj ET Q q 0 0 0 rg BT 146.92 175.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 182.12 175.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 213.42 175.25 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 252.21 175.25 Td (the ) Tj ET Q q 0 0 0 rg BT 267.96 175.25 Td (value ) Tj ET Q q 0 0 0 rg BT 293.15 175.25 Td (of ) Tj ET Q q 0 0 0 rg BT 305.01 175.25 Td (probable ) Tj ET Q q 0 0 0 rg BT 343.53 175.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 379.82 175.25 Td (and ) Tj ET Q q 0 0 0 rg BT 397.79 175.25 Td (acreage ) Tj ET Q q 0 0 0 rg BT 431.85 175.25 Td (prospects, ) Tj ET Q q 0 0 0 rg BT 475.65 175.25 Td (and ) Tj ET Q q 0 0 0 rg BT 493.62 175.25 Td (perhaps ) Tj ET Q q 0 0 0 rg BT 528.25 175.25 Td (dif) Tj ET Q q 0 0 0 rg BT 539.18 175.25 Td (ferent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 163.25 Td (discount ) Tj ET Q q 0 0 0 rg BT 86.03 163.25 Td (rates.��It ) Tj ET Q q 0 0 0 rg BT 121.17 163.25 Td (should ) Tj ET Q q 0 0 0 rg BT 150.48 163.25 Td (be ) Tj ET Q q 0 0 0 rg BT 162.57 163.25 Td (noted ) Tj ET Q q 0 0 0 rg BT 187.43 163.25 Td (that ) Tj ET Q q 0 0 0 rg BT 205.07 163.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 244.93 163.25 Td (of ) Tj ET Q q 0 0 0 rg BT 255.91 163.25 Td (reserve ) Tj ET Q q 0 0 0 rg BT 287.42 163.25 Td (quantities, ) Tj ET Q q 0 0 0 rg BT 331.45 163.25 Td (especially ) Tj ET Q q 0 0 0 rg BT 374.08 163.25 Td (from ) Tj ET Q q 0 0 0 rg BT 396.16 163.25 Td (new ) Tj ET Q q 0 0 0 rg BT 415.47 163.25 Td (discoveries, ) Tj ET Q q 0 0 0 rg BT 465.60 163.25 Td (are ) Tj ET Q q 0 0 0 rg BT 480.45 163.25 Td (inherently ) Tj ET Q q 0 0 0 rg BT 523.64 163.25 Td (imprecise ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 151.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 151.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 97.26 151.25 Td (to ) Tj ET Q q 0 0 0 rg BT 107.54 151.25 Td (substantial ) Tj ET Q q 0 0 0 rg BT 152.82 151.25 Td (revision.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 127.25 Td (Under ) Tj ET Q q 0 0 0 rg BT 94.63 127.25 Td (the ) Tj ET Q q 0 0 0 rg BT 108.98 127.25 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 163.31 127.25 Td (Measure, ) Tj ET Q q 0 0 0 rg BT 202.38 127.25 Td (future ) Tj ET Q q 0 0 0 rg BT 228.39 127.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 248.29 127.25 Td (inflows ) Tj ET Q q 0 0 0 rg BT 280.43 127.25 Td (were ) Tj ET Q q 0 0 0 rg BT 301.99 127.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 342.45 127.25 Td (by ) Tj ET Q q 0 0 0 rg BT 354.58 127.25 Td (applying ) Tj ET Q q 0 0 0 rg BT 391.72 127.25 Td (a ) Tj ET Q q 0 0 0 rg BT 398.29 127.25 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 490.40 127.25 Td (12-month ) Tj ET Q q 0 0 0 rg BT 531.42 127.25 Td (average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 115.25 Td (price ) Tj ET Q q 0 0 0 rg BT 71.55 115.25 Td (to ) Tj ET Q q 0 0 0 rg BT 81.39 115.25 Td (the ) Tj ET Q q 0 0 0 rg BT 95.68 115.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 136.06 115.25 Td (future ) Tj ET Q q 0 0 0 rg BT 162.00 115.25 Td (production ) Tj ET Q q 0 0 0 rg BT 207.40 115.25 Td (of ) Tj ET Q q 0 0 0 rg BT 217.79 115.25 Td (year) Tj ET Q q 0 0 0 rg BT 234.80 115.25 Td (-end ) Tj ET Q q 0 0 0 rg BT 254.63 115.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 284.47 115.25 Td (reserves.��) Tj ET Q q 0 0 0 rg BT 324.54 115.25 Td (These ) Tj ET Q q 0 0 0 rg BT 350.49 115.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 376.43 115.25 Td (have ) Tj ET Q q 0 0 0 rg BT 397.37 115.25 Td (a ) Tj ET Q q 0 0 0 rg BT 403.88 115.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 448.15 115.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 477.43 115.25 Td (on ) Tj ET Q q 0 0 0 rg BT 489.50 115.25 Td (both ) Tj ET Q q 0 0 0 rg BT 509.34 115.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.62 115.25 Td (quantities ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 103.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.17 103.25 Td (value ) Tj ET Q q 0 0 0 rg BT 90.05 103.25 Td (of ) Tj ET Q q 0 0 0 rg BT 100.61 103.25 Td (the ) Tj ET Q q 0 0 0 rg BT 115.06 103.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 145.05 103.25 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 182.54 103.25 Td (as ) Tj ET Q q 0 0 0 rg BT 193.10 103.25 Td (reductions ) Tj ET Q q 0 0 0 rg BT 236.99 103.25 Td (in ) Tj ET Q q 0 0 0 rg BT 246.99 103.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 259.78 103.25 Td (and ) Tj ET Q q 0 0 0 rg BT 276.45 103.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 306.44 103.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 322.00 103.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 348.10 103.25 Td (can ) Tj ET Q q 0 0 0 rg BT 364.21 103.25 Td (cause ) Tj ET Q q 0 0 0 rg BT 388.65 103.25 Td (wells ) Tj ET Q q 0 0 0 rg BT 411.98 103.25 Td (to ) Tj ET Q q 0 0 0 rg BT 421.99 103.25 Td (reach ) Tj ET Q q 0 0 0 rg BT 445.86 103.25 Td (the ) Tj ET Q q 0 0 0 rg BT 460.31 103.25 Td (end ) Tj ET Q q 0 0 0 rg BT 476.98 103.25 Td (of ) Tj ET Q q 0 0 0 rg BT 487.54 103.25 Td (their ) Tj ET Q q 0 0 0 rg BT 508.09 103.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 549.19 103.25 Td (life ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 91.25 Td (much ) Tj ET Q q 0 0 0 rg BT 73.56 91.25 Td (sooner ) Tj ET Q q 0 0 0 rg BT 102.06 91.25 Td (and ) Tj ET Q q 0 0 0 rg BT 118.34 91.25 Td (can ) Tj ET Q q 0 0 0 rg BT 134.06 91.25 Td (make ) Tj ET Q q 0 0 0 rg BT 157.56 91.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 186.60 91.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 216.21 91.25 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 269.15 91.25 Td (locations ) Tj ET Q q 0 0 0 rg BT 307.10 91.25 Td (uneconomical, ) Tj ET Q q 0 0 0 rg BT 367.53 91.25 Td (both ) Tj ET Q q 0 0 0 rg BT 387.15 91.25 Td (of ) Tj ET Q q 0 0 0 rg BT 397.32 91.25 Td (which ) Tj ET Q q 0 0 0 rg BT 423.60 91.25 Td (reduce ) Tj ET Q q 0 0 0 rg BT 452.09 91.25 Td (the ) Tj ET Q q 0 0 0 rg BT 466.15 91.25 Td (reserves.��) Tj ET Q q 0 0 0 rg BT 506.23 91.25 Td (The ) Tj ET Q q 0 0 0 rg BT 523.62 91.25 Td (following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 79.25 Td (representative ) Tj ET Q q 0 0 0 rg BT 108.11 79.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 121.20 79.25 Td (and ) Tj ET Q q 0 0 0 rg BT 138.17 79.25 Td (natural ) Tj ET Q q 0 0 0 rg BT 168.46 79.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 184.33 79.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 210.74 79.25 Td (were ) Tj ET Q q 0 0 0 rg BT 232.70 79.25 Td (used ) Tj ET Q q 0 0 0 rg BT 253.56 79.25 Td (in ) Tj ET Q q 0 0 0 rg BT 263.87 79.25 Td (the ) Tj ET Q q 0 0 0 rg BT 278.62 79.25 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 333.35 79.25 Td (Measure.��) Tj ET Q q 0 0 0 rg BT 375.10 79.25 Td (These ) Tj ET Q q 0 0 0 rg BT 401.51 79.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 427.92 79.25 Td (were ) Tj ET Q q 0 0 0 rg BT 449.88 79.25 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 485.73 79.25 Td (by ) Tj ET Q q 0 0 0 rg BT 498.26 79.25 Td (field ) Tj ET Q q 0 0 0 rg BT 519.12 79.25 Td (to ) Tj ET Q q 0 0 0 rg BT 529.43 79.25 Td (arrive ) Tj ET Q q 0 0 0 rg BT 555.28 79.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 67.25 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 67.25 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 112.25 67.25 Td (corporate ) Tj ET Q q 0 0 0 rg BT 152.50 67.25 Td (net ) Tj ET Q q 0 0 0 rg BT 167.22 67.25 Td (price.) Tj ET Q endstream endobj 203 0 obj <> endobj 204 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc. ) Tj ET Q BT /F3 10.00 Tf ET q 0 0 0 rg BT 225.40 736.60 Td (Unaudited Supplementary Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 30.60 Td (101) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 693.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 693.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 693.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 693.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 693.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 693.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 693.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 706.5 m 424 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 706.5 m 428 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 706.5 m 493 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 706.5 m 497 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 706.5 m 562 706.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 693.5 m 424 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 693.5 m 493 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 693.5 m 562 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 693.5 m 424 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 693.5 m 493 693.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 693.5 m 562 693.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 710.07 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.95 710.07 Td (December 31,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 697.07 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 697.07 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 697.07 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 697.07 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 683.17 Td (Oil \(NYMEX price per Bbl\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 683.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 683.17 Td (65.56) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 683.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 683.17 Td (51.34) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 683.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 535.65 683.17 Td (42.75) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 668.17 Td (Natural Gas \(Henry Hub price per MMBtu\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 668.17 Td (3.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 668.17 Td (2.98) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 668.17 Td (2.55) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 640.00 Td (The ) Tj ET Q q 0 0 0 rg BT 86.33 640.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 121.81 640.00 Td (in ) Tj ET Q q 0 0 0 rg BT 132.87 640.00 Td (the ) Tj ET Q q 0 0 0 rg BT 148.37 640.00 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 203.85 640.00 Td (Measure ) Tj ET Q q 0 0 0 rg BT 241.56 640.00 Td (of ) Tj ET Q q 0 0 0 rg BT 253.17 640.00 Td (discounted ) Tj ET Q q 0 0 0 rg BT 299.78 640.00 Td (future ) Tj ET Q q 0 0 0 rg BT 326.93 640.00 Td (net ) Tj ET Q q 0 0 0 rg BT 342.43 640.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 363.48 640.00 Td (flows ) Tj ET Q q 0 0 0 rg BT 388.98 640.00 Td (in ) Tj ET Q q 0 0 0 rg BT 400.04 640.00 Td (the ) Tj ET Q q 0 0 0 rg BT 415.54 640.00 Td (tables ) Tj ET Q q 0 0 0 rg BT 442.14 640.00 Td (that ) Tj ET Q q 0 0 0 rg BT 460.42 640.00 Td (follow ) Tj ET Q q 0 0 0 rg BT 489.81 640.00 Td (were ) Tj ET Q q 0 0 0 rg BT 512.52 640.00 Td (significantly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 628.00 Td (impacted ) Tj ET Q q 0 0 0 rg BT 88.36 628.00 Td (by ) Tj ET Q q 0 0 0 rg BT 100.56 628.00 Td (the ) Tj ET Q q 0 0 0 rg BT 114.99 628.00 Td (movement ) Tj ET Q q 0 0 0 rg BT 159.40 628.00 Td (in ) Tj ET Q q 0 0 0 rg BT 169.39 628.00 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 261.56 628.00 Td (average ) Tj ET Q q 0 0 0 rg BT 294.85 628.00 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 333.73 628.00 Td (oil ) Tj ET Q q 0 0 0 rg BT 346.49 628.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 372.57 628.00 Td (between ) Tj ET Q q 0 0 0 rg BT 408.09 628.00 Td (2016 ) Tj ET Q q 0 0 0 rg BT 430.30 628.00 Td (and ) Tj ET Q q 0 0 0 rg BT 446.94 628.00 Td (2018. ) Tj ET Q q 0 0 0 rg BT 471.65 628.00 Td ( ) Tj ET Q q 0 0 0 rg BT 473.70 628.00 Td (The ) Tj ET Q q 0 0 0 rg BT 491.45 628.00 Td (weighted-average ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 616.00 Td (oil ) Tj ET Q q 0 0 0 rg BT 63.96 616.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 91.74 616.00 Td (we ) Tj ET Q q 0 0 0 rg BT 107.31 616.00 Td (receive ) Tj ET Q q 0 0 0 rg BT 140.07 616.00 Td (relative ) Tj ET Q q 0 0 0 rg BT 173.96 616.00 Td (to ) Tj ET Q q 0 0 0 rg BT 185.64 616.00 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 226.21 616.00 Td (oil ) Tj ET Q q 0 0 0 rg BT 240.67 616.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 268.45 616.00 Td (\(our ) Tj ET Q q 0 0 0 rg BT 289.01 616.00 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 329.58 616.00 Td (oil ) Tj ET Q q 0 0 0 rg BT 344.04 616.00 Td (price ) Tj ET Q q 0 0 0 rg BT 367.93 616.00 Td (dif) Tj ET Q q 0 0 0 rg BT 378.86 616.00 Td (ferential\) ) Tj ET Q q 0 0 0 rg BT 419.40 616.00 Td (utilized ) Tj ET Q q 0 0 0 rg BT 453.30 616.00 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 476.63 616.00 Td ($0.24) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.13 616.00 Td ( ) Tj ET Q q 0 0 0 rg BT 503.03 616.00 Td (per ) Tj ET Q q 0 0 0 rg BT 519.71 616.00 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 538.06 616.00 Td (below ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 604.00 Td (representative ) Tj ET Q q 0 0 0 rg BT 108.05 604.00 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 147.19 604.00 Td (oil ) Tj ET Q q 0 0 0 rg BT 160.22 604.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 186.57 604.00 Td (as ) Tj ET Q q 0 0 0 rg BT 197.37 604.00 Td (of ) Tj ET Q q 0 0 0 rg BT 208.18 604.00 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 266.73 604.00 Td (2018, ) Tj ET Q q 0 0 0 rg BT 291.71 604.00 Td (compared ) Tj ET Q q 0 0 0 rg BT 333.60 604.00 Td (to ) Tj ET Q q 0 0 0 rg BT 343.86 604.00 Td ($2.25 ) Tj ET Q q 0 0 0 rg BT 368.83 604.00 Td (per ) Tj ET Q q 0 0 0 rg BT 384.07 604.00 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 400.99 604.00 Td (below ) Tj ET Q q 0 0 0 rg BT 427.90 604.00 Td (representative ) Tj ET Q q 0 0 0 rg BT 486.46 604.00 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 525.59 604.00 Td (oil ) Tj ET Q q 0 0 0 rg BT 538.62 604.00 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 592.00 Td (as ) Tj ET Q q 0 0 0 rg BT 60.33 592.00 Td (of ) Tj ET Q q 0 0 0 rg BT 71.16 592.00 Td (December ) Tj ET Q q 0 0 0 rg BT 114.74 592.00 Td (31, ) Tj ET Q q 0 0 0 rg BT 129.74 592.00 Td (2017, ) Tj ET Q q 0 0 0 rg BT 154.74 592.00 Td (and ) Tj ET Q q 0 0 0 rg BT 171.68 592.00 Td ($3.39 ) Tj ET Q q 0 0 0 rg BT 196.68 592.00 Td (per ) Tj ET Q q 0 0 0 rg BT 211.95 592.00 Td (Bbl ) Tj ET Q q 0 0 0 rg BT 228.90 592.00 Td (below ) Tj ET Q q 0 0 0 rg BT 255.84 592.00 Td (representative ) Tj ET Q q 0 0 0 rg BT 314.42 592.00 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 353.58 592.00 Td (oil ) Tj ET Q q 0 0 0 rg BT 366.64 592.00 Td (prices ) Tj ET Q q 0 0 0 rg BT 393.02 592.00 Td (as ) Tj ET Q q 0 0 0 rg BT 403.85 592.00 Td (of ) Tj ET Q q 0 0 0 rg BT 414.68 592.00 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 473.26 592.00 Td (2016.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 568.00 Td (Future ) Tj ET Q q 0 0 0 rg BT 95.63 568.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 115.42 568.00 Td (inflows ) Tj ET Q q 0 0 0 rg BT 147.45 568.00 Td (were ) Tj ET Q q 0 0 0 rg BT 168.90 568.00 Td (reduced ) Tj ET Q q 0 0 0 rg BT 202.57 568.00 Td (by ) Tj ET Q q 0 0 0 rg BT 214.59 568.00 Td (estimated ) Tj ET Q q 0 0 0 rg BT 254.94 568.00 Td (future ) Tj ET Q q 0 0 0 rg BT 280.84 568.00 Td (production, ) Tj ET Q q 0 0 0 rg BT 328.69 568.00 Td (development ) Tj ET Q q 0 0 0 rg BT 382.36 568.00 Td (and ) Tj ET Q q 0 0 0 rg BT 398.83 568.00 Td (abandonment ) Tj ET Q q 0 0 0 rg BT 454.72 568.00 Td (costs ) Tj ET Q q 0 0 0 rg BT 476.75 568.00 Td (based ) Tj ET Q q 0 0 0 rg BT 501.54 568.00 Td (on ) Tj ET Q q 0 0 0 rg BT 513.56 568.00 Td (current ) Tj ET Q q 0 0 0 rg BT 543.90 568.00 Td (cost, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 556.00 Td (with ) Tj ET Q q 0 0 0 rg BT 68.75 556.00 Td (no ) Tj ET Q q 0 0 0 rg BT 80.21 556.00 Td (escalation ) Tj ET Q q 0 0 0 rg BT 121.66 556.00 Td (to ) Tj ET Q q 0 0 0 rg BT 130.91 556.00 Td (determine ) Tj ET Q q 0 0 0 rg BT 172.35 556.00 Td (pre-tax ) Tj ET Q q 0 0 0 rg BT 202.14 556.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 221.37 556.00 Td (inflows.��Our ) Tj ET Q q 0 0 0 rg BT 275.89 556.00 Td (future ) Tj ET Q q 0 0 0 rg BT 301.24 556.00 Td (net ) Tj ET Q q 0 0 0 rg BT 314.92 556.00 Td (inflows ) Tj ET Q q 0 0 0 rg BT 346.39 556.00 Td (do ) Tj ET Q q 0 0 0 rg BT 357.85 556.00 Td (not ) Tj ET Q q 0 0 0 rg BT 372.10 556.00 Td (include ) Tj ET Q q 0 0 0 rg BT 403.00 556.00 Td (a ) Tj ET Q q 0 0 0 rg BT 408.91 556.00 Td (reduction ) Tj ET Q q 0 0 0 rg BT 448.14 556.00 Td (for ) Tj ET Q q 0 0 0 rg BT 461.27 556.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 480.50 556.00 Td (previously ) Tj ET Q q 0 0 0 rg BT 524.19 556.00 Td (expended ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 544.00 Td (on ) Tj ET Q q 0 0 0 rg BT 62.91 544.00 Td (our ) Tj ET Q q 0 0 0 rg BT 79.64 544.00 Td (capitalized ) Tj ET Q q 0 0 0 rg BT 126.35 544.00 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 140.24 542.57 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 143.49 544.00 Td ( ) Tj ET Q q 0 0 0 rg BT 146.90 544.00 Td (assets ) Tj ET Q q 0 0 0 rg BT 173.64 544.00 Td (that ) Tj ET Q q 0 0 0 rg BT 192.04 544.00 Td (will ) Tj ET Q q 0 0 0 rg BT 211.00 544.00 Td (be ) Tj ET Q q 0 0 0 rg BT 223.84 544.00 Td (consumed ) Tj ET Q q 0 0 0 rg BT 267.80 544.00 Td (in ) Tj ET Q q 0 0 0 rg BT 278.98 544.00 Td (the ) Tj ET Q q 0 0 0 rg BT 294.60 544.00 Td (production ) Tj ET Q q 0 0 0 rg BT 341.33 544.00 Td (of ) Tj ET Q q 0 0 0 rg BT 353.07 544.00 Td (proved ) Tj ET Q q 0 0 0 rg BT 384.24 544.00 Td (tertiary ) Tj ET Q q 0 0 0 rg BT 416.52 544.00 Td (reserves.��Future ) Tj ET Q q 0 0 0 rg BT 486.29 544.00 Td (income ) Tj ET Q q 0 0 0 rg BT 519.13 544.00 Td (taxes ) Tj ET Q q 0 0 0 rg BT 543.09 544.00 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 532.00 Td (computed ) Tj ET Q q 0 0 0 rg BT 91.65 532.00 Td (by ) Tj ET Q q 0 0 0 rg BT 104.38 532.00 Td (applying ) Tj ET Q q 0 0 0 rg BT 142.09 532.00 Td (the ) Tj ET Q q 0 0 0 rg BT 157.03 532.00 Td (statutory ) Tj ET Q q 0 0 0 rg BT 194.75 532.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 209.68 532.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 227.39 532.00 Td (to ) Tj ET Q q 0 0 0 rg BT 237.89 532.00 Td (the ) Tj ET Q q 0 0 0 rg BT 252.83 532.00 Td (excess ) Tj ET Q q 0 0 0 rg BT 281.65 532.00 Td (of ) Tj ET Q q 0 0 0 rg BT 292.70 532.00 Td (net ) Tj ET Q q 0 0 0 rg BT 307.64 532.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 328.13 532.00 Td (inflows ) Tj ET Q q 0 0 0 rg BT 360.85 532.00 Td (over ) Tj ET Q q 0 0 0 rg BT 381.34 532.00 Td (our ) Tj ET Q q 0 0 0 rg BT 397.39 532.00 Td (tax ) Tj ET Q q 0 0 0 rg BT 412.33 532.00 Td (basis ) Tj ET Q q 0 0 0 rg BT 435.05 532.00 Td (in ) Tj ET Q q 0 0 0 rg BT 445.55 532.00 Td (the ) Tj ET Q q 0 0 0 rg BT 460.49 532.00 Td (associated ) Tj ET Q q 0 0 0 rg BT 504.30 532.00 Td (proved ) Tj ET Q q 0 0 0 rg BT 534.79 532.00 Td (oil ) Tj ET Q q 0 0 0 rg BT 548.07 532.00 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 520.00 Td (natural ) Tj ET Q q 0 0 0 rg BT 82.43 520.00 Td (gas ) Tj ET Q q 0 0 0 rg BT 100.93 520.00 Td (properties.��) Tj ET Q q 0 0 0 rg BT 148.23 520.00 Td (T) Tj ET Q q 0 0 0 rg BT 153.64 520.00 Td (ax ) Tj ET Q q 0 0 0 rg BT 168.25 520.00 Td (credits ) Tj ET Q q 0 0 0 rg BT 200.07 520.00 Td (and ) Tj ET Q q 0 0 0 rg BT 219.67 520.00 Td (net ) Tj ET Q q 0 0 0 rg BT 237.06 520.00 Td (operating ) Tj ET Q q 0 0 0 rg BT 279.99 520.00 Td (loss ) Tj ET Q q 0 0 0 rg BT 300.71 520.00 Td (carryforwards ) Tj ET Q q 0 0 0 rg BT 361.96 520.00 Td (were ) Tj ET Q q 0 0 0 rg BT 386.56 520.00 Td (also ) Tj ET Q q 0 0 0 rg BT 407.83 520.00 Td (considered ) Tj ET Q q 0 0 0 rg BT 456.31 520.00 Td (in ) Tj ET Q q 0 0 0 rg BT 469.26 520.00 Td (the ) Tj ET Q q 0 0 0 rg BT 486.64 520.00 Td (future ) Tj ET Q q 0 0 0 rg BT 515.68 520.00 Td (income ) Tj ET Q q 0 0 0 rg BT 550.28 520.00 Td (tax ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 508.00 Td (calculation.��Future ) Tj ET Q q 0 0 0 rg BT 131.09 508.00 Td (net ) Tj ET Q q 0 0 0 rg BT 147.41 508.00 Td (cash ) Tj ET Q q 0 0 0 rg BT 169.29 508.00 Td (inflows ) Tj ET Q q 0 0 0 rg BT 203.40 508.00 Td (after ) Tj ET Q q 0 0 0 rg BT 225.83 508.00 Td (income ) Tj ET Q q 0 0 0 rg BT 259.38 508.00 Td (taxes ) Tj ET Q q 0 0 0 rg BT 284.03 508.00 Td (were ) Tj ET Q q 0 0 0 rg BT 307.57 508.00 Td (discounted ) Tj ET Q q 0 0 0 rg BT 355.01 508.00 Td (using ) Tj ET Q q 0 0 0 rg BT 380.79 508.00 Td (a ) Tj ET Q q 0 0 0 rg BT 389.34 508.00 Td (10% ) Tj ET Q q 0 0 0 rg BT 411.78 508.00 Td (annual ) Tj ET Q q 0 0 0 rg BT 442.55 508.00 Td (discount ) Tj ET Q q 0 0 0 rg BT 480.54 508.00 Td (rate ) Tj ET Q q 0 0 0 rg BT 499.64 508.00 Td (to ) Tj ET Q q 0 0 0 rg BT 511.53 508.00 Td (arrive ) Tj ET Q q 0 0 0 rg BT 538.95 508.00 Td (at ) Tj ET Q q 0 0 0 rg BT 550.28 508.00 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 496.00 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 104.20 496.00 Td (Measure.) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 459.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 459.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 459.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 459.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 459.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 459.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 459.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 429.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 429.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 429.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 429.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 429.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 429.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 429.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 399.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 399.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 399.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 399.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 399.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 399.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 399.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 369.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 369.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 369.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 369.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 369.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 369.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 369.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 472.5 m 424 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 472.5 m 428 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 472.5 m 493 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 472.5 m 497 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 472.5 m 562 472.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 459.5 m 355 459.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 459.5 m 424 459.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 459.5 m 493 459.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 459.5 m 562 459.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 399.5 m 424 399.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 399.5 m 493 399.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 399.5 m 562 399.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 399.5 m 493 399.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 399.5 m 562 399.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 369.5 m 424 369.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 369.5 m 493 369.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 369.5 m 562 369.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 369.5 m 424 369.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 355.5 m 424 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 353.5 m 424 353.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 369.5 m 493 369.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 355.5 m 493 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 353.5 m 493 353.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 355.5 m 562 355.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 353.5 m 562 353.5 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 476.06 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 431.95 476.07 Td (December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 463.06 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 463.07 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 463.07 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 463.07 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 449.17 Td (Future cash inflows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.10 449.17 Td (16,657,988) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 444.10 449.17 Td (12,421,620) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 449.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 449.17 Td (9,747,726) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 434.17 Td (Future production costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.80 434.22 Td (\(8,000,884) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 434.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 434.22 Td (\(6,623,563) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 434.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 434.22 Td (\(5,743,198) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 434.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 419.17 Td (Future development costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.80 419.22 Td (\(1,524,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 419.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 419.22 Td (\(1,433,900) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 419.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 514.80 419.22 Td (\(1,595,871) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 419.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 404.17 Td (Future income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.80 404.22 Td (\(1,186,769) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 404.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 404.22 Td (\(528,767) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 404.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 404.22 Td (\(258,047) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 404.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 389.17 Td (Future net cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 389.17 Td (5,945,859) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 389.17 Td (3,835,390) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 389.17 Td (2,150,610) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 374.17 Td (10% annual discount for estimated timing of cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 376.80 374.22 Td (\(2,594,474) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 374.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.80 374.22 Td (\(1,602,961) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 374.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 374.22 Td (\(751,393) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 374.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 359.17 Td (Standardized measure of discounted future net cash flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 359.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 359.17 Td (3,351,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 359.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 359.17 Td (2,232,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 359.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 359.17 Td (1,399,217) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 343.00 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 331.00 Td (The ) Tj ET Q q 0 0 0 rg BT 85.13 331.00 Td (following ) Tj ET Q q 0 0 0 rg BT 126.10 331.00 Td (table ) Tj ET Q q 0 0 0 rg BT 147.61 331.00 Td (sets ) Tj ET Q q 0 0 0 rg BT 164.70 331.00 Td (forth ) Tj ET Q q 0 0 0 rg BT 186.22 331.00 Td (an ) Tj ET Q q 0 0 0 rg BT 197.74 331.00 Td (analysis ) Tj ET Q q 0 0 0 rg BT 232.04 331.00 Td (of ) Tj ET Q q 0 0 0 rg BT 242.45 331.00 Td (changes ) Tj ET Q q 0 0 0 rg BT 276.74 331.00 Td (in ) Tj ET Q q 0 0 0 rg BT 286.60 331.00 Td (the ) Tj ET Q q 0 0 0 rg BT 300.90 331.00 Td (Standardized ) Tj ET Q q 0 0 0 rg BT 355.19 331.00 Td (Measure ) Tj ET Q q 0 0 0 rg BT 391.70 331.00 Td (of ) Tj ET Q q 0 0 0 rg BT 402.11 331.00 Td (Discounted ) Tj ET Q q 0 0 0 rg BT 449.74 331.00 Td (Future ) Tj ET Q q 0 0 0 rg BT 477.93 331.00 Td (Net ) Tj ET Q q 0 0 0 rg BT 494.45 331.00 Td (Cash ) Tj ET Q q 0 0 0 rg BT 516.53 331.00 Td (Flows ) Tj ET Q q 0 0 0 rg BT 543.07 331.00 Td (from ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 319.00 Td (proved ) Tj ET Q q 0 0 0 rg BT 79.77 319.00 Td (oil ) Tj ET Q q 0 0 0 rg BT 92.83 319.00 Td (and ) Tj ET Q q 0 0 0 rg BT 109.76 319.00 Td (natural ) Tj ET Q q 0 0 0 rg BT 140.03 319.00 Td (gas ) Tj ET Q q 0 0 0 rg BT 155.86 319.00 Td (reserves:) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 282.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 282.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 282.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 282.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 282.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 282.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 282.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 252.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 252.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 252.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 252.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 252.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 252.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 252.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 222.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 222.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 222.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 222.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 222.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 222.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 222.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 192.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 192.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 192.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 192.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 192.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 192.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 192.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 162.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 162.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 162.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 162.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 162.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 162.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 162.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 132.50 306.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 132.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 132.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 132.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 132.50 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 132.50 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 132.50 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 295.5 m 424 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 424 295.5 m 428 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 295.5 m 493 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 493 295.5 m 497 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 295.5 m 562 295.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 282.5 m 355 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 282.5 m 424 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 282.5 m 493 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 282.5 m 562 282.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 117.5 m 424 117.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 117.5 m 493 117.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 117.5 m 562 117.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 103.5 m 424 103.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 101.5 m 424 101.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 117.5 m 493 117.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 103.5 m 493 103.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 101.5 m 493 101.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 117.5 m 562 117.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 103.5 m 562 103.5 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 101.5 m 562 101.5 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 299.07 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 407.45 299.07 Td (Y) Tj ET Q q 0 0 0 rg BT 414.17 299.07 Td (ear Ended December 31,) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 286.06 Td (In thousands) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 381.00 286.07 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 450.00 286.07 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 519.00 286.07 Td (2016) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 272.17 Td (Beginning of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 272.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 272.17 Td (2,232,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 272.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 272.17 Td (1,399,217) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 272.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 272.17 Td (1,890,124) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 257.17 Td (Sales of oil and natural gas produced, net of production costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 257.22 Td (\(797,132) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 257.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 257.22 Td (\(523,049) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 257.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 257.22 Td (\(406,782) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 257.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 242.17 Td (Net changes in prices and production costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 242.17 Td (1,963,333) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 242.17 Td (1,231,649) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 242.22 Td (\(784,010) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 242.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 227.17 Td (Improved recovery) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 127.85 231.70 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 227.17 Td (1) Tj ET Q q 0 0 0 rg BT 397.65 227.17 Td (1,536) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 227.17 Td (6,1) Tj ET Q q 0 0 0 rg BT 479.15 227.17 Td (19) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 548.15 227.17 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 212.17 Td (Previously estimated development costs incurred) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 212.17 Td (109,214) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 212.17 Td (89,238) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 212.17 Td (86,012) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 197.17 Td (Change in future development costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 197.22 Td (\(42,240) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 197.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 197.17 Td (39,926) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 197.17 Td (85,797) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 182.17 Td (Revisions due to timing and other) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 182.17 Td (10,915) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 182.22 Td (\(71,141) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 182.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 182.17 Td (48,697) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 167.17 Td (Accretion of discount) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 167.17 Td (234,434) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 167.17 Td (142,007) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 167.17 Td (209,608) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 152.17 Td (Acquisition of minerals in place) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 410.15 152.17 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 152.17 Td (77,366) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 543.15 152.17 Td (477) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 137.17 Td (Sales of minerals in place) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 397.65 137.17 Td (1,281) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 479.15 137.17 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 137.22 Td (\(16,671) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 137.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 122.17 Td (Net change in income taxes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 122.22 Td (\(372,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 122.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 453.30 122.22 Td (\(158,903) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 122.17 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 122.17 Td (285,965) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 107.17 Td (End of year) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 107.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 380.15 107.17 Td (3,351,385) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 107.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.15 107.17 Td (2,232,429) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 107.17 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 107.17 Td (1,399,217) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 79.00 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 79.00 Td (Improved ) Tj ET Q q 0 0 0 rg BT 109.41 79.00 Td (recovery ) Tj ET Q q 0 0 0 rg BT 147.42 79.00 Td (additions ) Tj ET Q q 0 0 0 rg BT 187.11 79.00 Td (result ) Tj ET Q q 0 0 0 rg BT 212.36 79.00 Td (from ) Tj ET Q q 0 0 0 rg BT 234.83 79.00 Td (the ) Tj ET Q q 0 0 0 rg BT 250.08 79.00 Td (application ) Tj ET Q q 0 0 0 rg BT 297.54 79.00 Td (of ) Tj ET Q q 0 0 0 rg BT 308.90 79.00 Td (secondary ) Tj ET Q q 0 0 0 rg BT 352.47 79.00 Td (recovery ) Tj ET Q q 0 0 0 rg BT 390.47 79.00 Td (methods ) Tj ET Q q 0 0 0 rg BT 427.39 79.00 Td (such ) Tj ET Q q 0 0 0 rg BT 448.75 79.00 Td (as ) Tj ET Q q 0 0 0 rg BT 460.11 79.00 Td (water ) Tj ET Q q 0 0 0 rg BT 485.35 79.00 Td (flooding ) Tj ET Q q 0 0 0 rg BT 522.27 79.00 Td (or ) Tj ET Q q 0 0 0 rg BT 533.63 79.00 Td (tertiary ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 67.00 Td (recovery ) Tj ET Q q 0 0 0 rg BT 104.98 67.00 Td (methods ) Tj ET Q q 0 0 0 rg BT 141.36 67.00 Td (such ) Tj ET Q q 0 0 0 rg BT 162.19 67.00 Td (as ) Tj ET Q q 0 0 0 rg BT 173.02 67.00 Td (CO) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 186.91 65.57 Td (2) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 190.16 67.00 Td ( ) Tj ET Q q 0 0 0 rg BT 192.66 67.00 Td (flooding.) 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0.8 0.8 rg /GS0 gs 493.00 689.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 689.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 659.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 659.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 659.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 659.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 659.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 659.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 659.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 659.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 659.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 629.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 629.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 629.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 629.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 629.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 629.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 629.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 629.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 629.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 599.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 599.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 599.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 599.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 599.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 599.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 569.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 569.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 569.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 569.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 569.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 569.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 539.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 539.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 539.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 539.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 539.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 539.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 509.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 509.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 509.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 509.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 509.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 509.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 479.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 479.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 479.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 479.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 479.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 479.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 449.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 449.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 449.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 449.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 449.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 449.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 449.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 449.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 449.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 419.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 419.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 419.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 419.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 419.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 419.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 419.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 419.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 419.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 389.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 389.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 389.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 389.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 389.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 389.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 359.75 237.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 286.00 359.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 290.00 359.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 355.00 359.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 359.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 424.00 359.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 428.00 359.75 65.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 493.00 359.75 4.00 -15.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 497.00 359.75 65.00 -15.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 49 689.75 m 286 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 290 689.75 m 355 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 359 689.75 m 424 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 428 689.75 m 493 689.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 497 689.75 m 562 689.75 l s BT /F4 10.00 Tf ET q 0 0 0 rg BT 51.50 693.31 Td (In thousands, except per) Tj ET Q q 0 0 0 rg BT 149.05 693.31 Td (-shar) Tj ET Q q 0 0 0 rg BT 169.80 693.31 Td (e data) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 302.70 693.32 Td (March 31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 375.55 693.32 Td (June 30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 432.35 693.32 Td (September 30) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 502.20 693.32 Td (December 31) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 679.43 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 679.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 679.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 679.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 679.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 664.42 Td (Revenues and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 664.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 664.42 Td (353,234) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 664.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 664.42 Td (387,063) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 664.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 664.42 Td (394,973) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 664.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 664.42 Td (338,355) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 649.42 Td (Commodity derivatives expense \(income\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 649.42 Td (48,825) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 649.42 Td (96,199) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 649.42 Td (44,577) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 649.47 Td (\(210,688) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 649.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 634.42 Td (Other expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 634.42 Td (250,81) Tj ET Q q 0 0 0 rg BT 346.15 634.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 634.42 Td (251,21) Tj ET Q q 0 0 0 rg BT 415.15 634.42 Td (1) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 634.42 Td (256,361) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 634.42 Td (326,398) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 619.42 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 619.42 Td (39,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 619.42 Td (30,222) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 619.42 Td (78,419) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 619.42 Td (174,479) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 604.42 Td (Net income per common share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 604.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 604.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 604.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 604.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 589.42 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 589.42 Td (0.10) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 589.42 Td (0.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 589.42 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 589.42 Td (0.39) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 574.42 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 574.42 Td (0.09) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 574.42 Td (0.07) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 574.42 Td (0.17) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 574.42 Td (0.38) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 559.42 Td (Cash flow provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 559.42 Td (91,627) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 559.42 Td (153,999) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 559.42 Td (147,904) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 559.42 Td (136,155) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 544.42 Td (Cash flow used in investing activities) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 201.20 548.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.30 544.47 Td (\(51,376) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 544.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 544.47 Td (\(83,522) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 544.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 544.47 Td (\(81,834) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 544.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 522.30 544.47 Td (\(1) Tj ET Q q 0 0 0 rg BT 530.63 544.47 Td (16,544) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 544.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 529.42 Td (Cash flow provided by \(used in\) financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.30 529.47 Td (\(40,578) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 529.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 529.47 Td (\(69,908) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 529.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 529.42 Td (679) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 529.47 Td (\(47,645) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 529.42 Td (\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 51.50 499.43 Td (2017) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 499.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 499.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 499.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 499.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 484.42 Td (Revenues and other income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 292.50 484.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 484.42 Td (275,454) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 361.50 484.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 484.42 Td (261,184) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.50 484.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 484.42 Td (266,559) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 499.50 484.42 Td ($) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 484.42 Td (326,589) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 469.42 Td (Commodity derivatives expense \(income\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.30 469.47 Td (\(24,602) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 469.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 389.30 469.47 Td (\(10,373) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 469.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 469.42 Td (25,263) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 530.65 469.42 Td (87,288) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 454.42 Td (Other expenses) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 318.65 454.42 Td (257,552) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 454.42 Td (246,885) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 456.65 454.42 Td (255,083) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 454.42 Td (246,190) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 439.42 Td (Net income) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 439.42 Td (21,530) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 439.42 Td (14,399) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 474.15 439.42 Td (442) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 439.42 Td (126,781) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 424.42 Td (Net income per common share:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.50 424.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.50 424.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.50 424.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.50 424.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 409.42 Td (Basic) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 409.42 Td (0.06) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 409.42 Td (0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 409.42 Td (0.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 409.42 Td (0.32) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 63.50 394.42 Td (Diluted) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 333.65 394.42 Td (0.05) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 402.65 394.42 Td (0.04) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 471.65 394.42 Td (0.00) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 540.65 394.42 Td (0.31) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 379.42 Td (Cash flow provided by operating activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 379.42 Td (24,262) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 392.65 379.42 Td (52,946) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 461.65 379.42 Td (65,651) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 379.42 Td (124,284) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 364.42 Td (Cash flow used in investing activities) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 201.20 368.95 Td (\(1\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 320.30 364.47 Td (\(67,696) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 351.15 364.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 384.30 364.47 Td (\(152,991) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 420.15 364.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 458.30 364.47 Td (\(73,123) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 489.15 364.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 364.47 Td (\(63,004) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 364.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 349.42 Td (Cash flow provided by \(used in\) financing activities) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 323.65 349.42 Td (43,476) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 387.65 349.42 Td (102,368) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 466.65 349.42 Td (3,756) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 527.30 349.47 Td (\(60,987) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 558.15 349.42 Td (\)) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 321.25 Td (\(1\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 321.25 Td (Balances ) Tj ET Q q 0 0 0 rg BT 105.97 321.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 146.67 321.25 Td (above ) Tj ET Q q 0 0 0 rg BT 172.92 321.25 Td (reflect ) Tj ET Q q 0 0 0 rg BT 200.83 321.25 Td (the ) Tj ET Q q 0 0 0 rg BT 215.42 321.25 Td (adoption ) Tj ET Q q 0 0 0 rg BT 252.80 321.25 Td (of ) Tj ET Q q 0 0 0 rg BT 263.51 321.25 Td (F) Tj ET Q q 0 0 0 rg BT 268.33 321.25 Td (ASB ) Tj ET Q q 0 0 0 rg BT 289.63 321.25 Td (ASU ) Tj ET Q q 0 0 0 rg BT 312.01 321.25 Td (2016-18, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 350.22 321.25 Td (Statement ) Tj ET Q q 0 0 0 rg BT 392.03 321.25 Td (of ) Tj ET Q q 0 0 0 rg BT 402.19 321.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 425.13 321.25 Td (Flows) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 449.58 321.25 Td ( ) Tj ET Q q 0 0 0 rg BT 451.96 321.25 Td (\(�ASU ) Tj ET Q q 0 0 0 rg BT 482.11 321.25 Td (2016-18�\), ) Tj ET Q q 0 0 0 rg BT 528.08 321.25 Td (whereby ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 309.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 102.12 309.25 Td (in ) Tj ET Q q 0 0 0 rg BT 112.30 309.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 151.92 309.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 172.09 309.25 Td (are ) Tj ET Q q 0 0 0 rg BT 186.71 309.25 Td (now ) Tj ET Q q 0 0 0 rg BT 206.34 309.25 Td (included ) Tj ET Q q 0 0 0 rg BT 243.19 309.25 Td (in ) Tj ET Q q 0 0 0 rg BT 253.37 309.25 Td (the ) Tj ET Q q 0 0 0 rg BT 268.00 309.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 320.95 309.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 365.57 309.25 Td (of ) Tj ET Q q 0 0 0 rg BT 376.31 309.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 396.49 309.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 421.12 309.25 Td (\(see ) Tj ET Q q 0 0 0 rg BT 439.63 309.25 Td (Note ) Tj ET Q q 0 0 0 rg BT 461.48 309.25 Td (1, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 471.39 309.25 Td (Significant ) Tj ET Q q 0 0 0 rg BT 516.95 309.25 Td (Accounting ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 67.50 297.25 Td (Policies ) Tj ET Q q 0 0 0 rg BT 102.22 297.25 Td (� ) Tj ET Q q 0 0 0 rg BT 109.73 297.25 Td (Recent ) Tj ET Q q 0 0 0 rg BT 139.25 297.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 187.30 297.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 196.93 297.25 Td (onouncements) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 254.14 297.25 Td (\). ) Tj ET Q q 0 0 0 rg BT 262.48 297.25 Td ( ) Tj ET Q q 0 0 0 rg BT 264.98 297.25 Td (Our ) Tj ET Q q 0 0 0 rg BT 283.04 297.25 Td (quarterly ) Tj ET Q q 0 0 0 rg BT 321.65 297.25 Td (reports ) Tj ET Q q 0 0 0 rg BT 351.92 297.25 Td (on ) Tj ET Q q 0 0 0 rg BT 364.43 297.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 388.61 297.25 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 411.66 297.25 Td (for ) Tj ET Q q 0 0 0 rg BT 425.83 297.25 Td (the ) Tj ET Q q 0 0 0 rg BT 440.56 297.25 Td (periods ) Tj ET Q q 0 0 0 rg BT 472.50 297.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 498.89 297.25 Td (March ) Tj ET Q q 0 0 0 rg BT 527.49 297.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 542.50 297.25 Td (2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 285.25 Td (and ) Tj ET Q q 0 0 0 rg BT 83.63 285.25 Td (June ) Tj ET Q q 0 0 0 rg BT 103.66 285.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 117.85 285.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 142.04 285.25 Td (filed ) Tj ET Q q 0 0 0 rg BT 162.06 285.25 Td (with ) Tj ET Q q 0 0 0 rg BT 181.53 285.25 Td (the ) Tj ET Q q 0 0 0 rg BT 195.44 285.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 215.48 285.25 Td (on ) Tj ET Q q 0 0 0 rg BT 227.17 285.25 Td (May ) Tj ET Q q 0 0 0 rg BT 247.19 285.25 Td (10, ) Tj ET Q q 0 0 0 rg BT 261.39 285.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 283.08 285.25 Td (and ) Tj ET Q q 0 0 0 rg BT 298.84 285.25 Td (August ) Tj ET Q q 0 0 0 rg BT 329.42 285.25 Td (9, ) Tj ET Q q 0 0 0 rg BT 338.62 285.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 362.81 285.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 410.47 285.25 Td (, ) Tj ET Q q 0 0 0 rg BT 414.66 285.25 Td (incorrectly ) Tj ET Q q 0 0 0 rg BT 459.67 285.25 Td (included ) Tj ET Q q 0 0 0 rg BT 495.79 285.25 Td (in ) Tj ET Q q 0 0 0 rg BT 505.27 285.25 Td (the ) Tj ET Q q 0 0 0 rg BT 519.18 285.25 Td (beginning-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 273.25 Td (of-period ) Tj ET Q q 0 0 0 rg BT 106.56 273.25 Td (and ) Tj ET Q q 0 0 0 rg BT 122.86 273.25 Td (end-of-period ) Tj ET Q q 0 0 0 rg BT 179.69 273.25 Td (balances ) Tj ET Q q 0 0 0 rg BT 215.97 273.25 Td (of ) Tj ET Q q 0 0 0 rg BT 226.16 273.25 Td (�Cash, ) Tj ET Q q 0 0 0 rg BT 254.96 273.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 274.58 273.25 Td (equivalents, ) Tj ET Q q 0 0 0 rg BT 324.48 273.25 Td (and ) Tj ET Q q 0 0 0 rg BT 340.77 273.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 379.83 273.25 Td (cash� ) Tj ET Q q 0 0 0 rg BT 403.90 273.25 Td (in ) Tj ET Q q 0 0 0 rg BT 413.53 273.25 Td (our ) Tj ET Q q 0 0 0 rg BT 428.72 273.25 Td (Statements ) Tj ET Q q 0 0 0 rg BT 474.46 273.25 Td (of ) Tj ET Q q 0 0 0 rg BT 484.65 273.25 Td (Cash ) Tj ET Q q 0 0 0 rg BT 506.50 273.25 Td (Flows, ) Tj ET Q q 0 0 0 rg BT 535.31 273.25 Td (certain ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 261.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 87.83 261.25 Td (T) Tj ET Q q 0 0 0 rg BT 93.58 261.25 Td (reasury ) Tj ET Q q 0 0 0 rg BT 125.75 261.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 151.83 261.25 Td (held ) Tj ET Q q 0 0 0 rg BT 171.78 261.25 Td (in ) Tj ET Q q 0 0 0 rg BT 182.30 261.25 Td (escrow ) Tj ET Q q 0 0 0 rg BT 213.37 261.25 Td (accounts ) Tj ET Q q 0 0 0 rg BT 251.09 261.25 Td (legally ) Tj ET Q q 0 0 0 rg BT 281.05 261.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 320.99 261.25 Td (for ) Tj ET Q q 0 0 0 rg BT 335.39 261.25 Td (use ) Tj ET Q q 0 0 0 rg BT 351.46 261.25 Td (in ) Tj ET Q q 0 0 0 rg BT 361.98 261.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 391.93 261.25 Td (of ) Tj ET Q q 0 0 0 rg BT 403.00 261.25 Td (our ) Tj ET Q q 0 0 0 rg BT 419.07 261.25 Td (asset ) Tj ET Q q 0 0 0 rg BT 441.25 261.25 Td (retirement ) Tj ET Q q 0 0 0 rg BT 485.08 261.25 Td (obligations. ) Tj ET Q q 0 0 0 rg BT 534.77 261.25 Td ( ) Tj ET Q q 0 0 0 rg BT 537.51 261.25 Td (Under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 249.25 Td (Financial ) Tj ET Q q 0 0 0 rg BT 106.44 249.25 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 155.32 249.25 Td (Standards ) Tj ET Q q 0 0 0 rg BT 196.97 249.25 Td (Board ) Tj ET Q q 0 0 0 rg BT 223.63 249.25 Td (Codification ) Tj ET Q q 0 0 0 rg BT 275.84 249.25 Td (\(�F) Tj ET Q q 0 0 0 rg BT 288.43 249.25 Td (ASC�\) ) Tj ET Q q 0 0 0 rg BT 317.87 249.25 Td (230-10-20, ) Tj ET Q q 0 0 0 rg BT 364.25 249.25 Td (these ) Tj ET Q q 0 0 0 rg BT 387.02 249.25 Td (notes ) Tj ET Q q 0 0 0 rg BT 410.34 249.25 Td (do ) Tj ET Q q 0 0 0 rg BT 422.56 249.25 Td (not ) Tj ET Q q 0 0 0 rg BT 437.56 249.25 Td (meet ) Tj ET Q q 0 0 0 rg BT 459.21 249.25 Td (the ) Tj ET Q q 0 0 0 rg BT 473.65 249.25 Td (definition ) Tj ET Q q 0 0 0 rg BT 514.75 249.25 Td (of ) Tj ET Q q 0 0 0 rg BT 525.30 249.25 Td (restricted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 237.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 88.07 237.25 Td (and ) Tj ET Q q 0 0 0 rg BT 105.30 237.25 Td (restricted ) Tj ET Q q 0 0 0 rg BT 145.30 237.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 165.87 237.25 Td (equivalents ) Tj ET Q q 0 0 0 rg BT 214.21 237.25 Td (due ) Tj ET Q q 0 0 0 rg BT 231.45 237.25 Td (to ) Tj ET Q q 0 0 0 rg BT 242.02 237.25 Td (their ) Tj ET Q q 0 0 0 rg BT 263.14 237.25 Td (maturity ) Tj ET Q q 0 0 0 rg BT 299.82 237.25 Td (date ) Tj ET Q q 0 0 0 rg BT 319.28 237.25 Td (exceeding ) Tj ET Q q 0 0 0 rg BT 362.61 237.25 Td (90 ) Tj ET Q q 0 0 0 rg BT 375.41 237.25 Td (days. ) Tj ET Q q 0 0 0 rg BT 399.03 237.25 Td ( ) Tj ET Q q 0 0 0 rg BT 401.63 237.25 Td (Therefore, ) Tj ET Q q 0 0 0 rg BT 446.34 237.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 481.35 237.25 Td (in ) Tj ET Q q 0 0 0 rg BT 491.92 237.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.94 237.25 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 527.32 237.25 Td (T) Tj ET Q q 0 0 0 rg BT 533.07 237.25 Td (reasury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 225.25 Td (Notes ) Tj ET Q q 0 0 0 rg BT 93.36 225.25 Td (of�$0.6 ) Tj ET Q q 0 0 0 rg BT 124.23 225.25 Td (million�and�$0.8 ) Tj ET Q q 0 0 0 rg BT 192.59 225.25 Td (million ) Tj ET Q q 0 0 0 rg BT 224.02 225.25 Td (during ) Tj ET Q q 0 0 0 rg BT 252.66 225.25 Td (the ) Tj ET Q q 0 0 0 rg BT 267.41 225.25 Td (three ) Tj ET Q q 0 0 0 rg BT 289.93 225.25 Td (months ) Tj ET Q q 0 0 0 rg BT 321.91 225.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 348.33 225.25 Td (March ) Tj ET Q q 0 0 0 rg BT 376.96 225.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 391.99 225.25 Td (2018 ) Tj ET Q q 0 0 0 rg BT 414.53 225.25 Td (and ) Tj ET Q q 0 0 0 rg BT 431.50 225.25 Td (six ) Tj ET Q q 0 0 0 rg BT 445.70 225.25 Td (months ) Tj ET Q q 0 0 0 rg BT 477.69 225.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 504.10 225.25 Td (June ) Tj ET Q q 0 0 0 rg BT 524.96 225.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 540.00 225.25 Td (2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 213.25 Td (respectively) Tj ET Q q 0 0 0 rg BT 115.16 213.25 Td (, ) Tj ET Q q 0 0 0 rg BT 121.16 213.25 Td (should ) Tj ET Q q 0 0 0 rg BT 151.34 213.25 Td (have ) Tj ET Q q 0 0 0 rg BT 173.72 213.25 Td (been ) Tj ET Q q 0 0 0 rg BT 196.09 213.25 Td (included ) Tj ET Q q 0 0 0 rg BT 234.03 213.25 Td (in ) Tj ET Q q 0 0 0 rg BT 245.31 213.25 Td (net ) Tj ET Q q 0 0 0 rg BT 261.03 213.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 282.30 213.25 Td (used ) Tj ET Q q 0 0 0 rg BT 304.13 213.25 Td (in ) Tj ET Q q 0 0 0 rg BT 315.42 213.25 Td (investing ) Tj ET Q q 0 0 0 rg BT 355.58 213.25 Td (activities. ) Tj ET Q q 0 0 0 rg BT 397.68 213.25 Td ( ) Tj ET Q q 0 0 0 rg BT 400.41 213.25 Td (Accordingly) Tj ET Q q 0 0 0 rg BT 449.75 213.25 Td (, ) Tj ET Q q 0 0 0 rg BT 455.75 213.25 Td (net ) Tj ET Q q 0 0 0 rg BT 471.47 213.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 492.74 213.25 Td (used ) Tj ET Q q 0 0 0 rg BT 514.57 213.25 Td (in ) Tj ET Q q 0 0 0 rg BT 525.85 213.25 Td (investing ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 201.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 106.28 201.25 Td (for ) Tj ET Q q 0 0 0 rg BT 120.62 201.25 Td (the ) Tj ET Q q 0 0 0 rg BT 135.52 201.25 Td (three ) Tj ET Q q 0 0 0 rg BT 158.18 201.25 Td (months ) Tj ET Q q 0 0 0 rg BT 190.31 201.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 216.87 201.25 Td (March ) Tj ET Q q 0 0 0 rg BT 245.65 201.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 260.83 201.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 286.01 201.25 Td (originally ) Tj ET Q q 0 0 0 rg BT 327.57 201.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 363.57 201.25 Td (as�$50.8 ) Tj ET Q q 0 0 0 rg BT 399.58 201.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 433.65 201.25 Td (should ) Tj ET Q q 0 0 0 rg BT 463.00 201.25 Td (have ) Tj ET Q q 0 0 0 rg BT 484.56 201.25 Td (been�$51.4 ) Tj ET Q q 0 0 0 rg BT 531.12 201.25 Td (million, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 189.25 Td (and ) Tj ET Q q 0 0 0 rg BT 84.09 189.25 Td (net ) Tj ET Q q 0 0 0 rg BT 98.46 189.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 118.38 189.25 Td (used ) Tj ET Q q 0 0 0 rg BT 138.87 189.25 Td (in ) Tj ET Q q 0 0 0 rg BT 148.80 189.25 Td (investing ) Tj ET Q q 0 0 0 rg BT 187.62 189.25 Td (activities ) Tj ET Q q 0 0 0 rg BT 225.87 189.25 Td (for ) Tj ET Q q 0 0 0 rg BT 239.68 189.25 Td (the ) Tj ET Q q 0 0 0 rg BT 254.05 189.25 Td (six ) Tj ET Q q 0 0 0 rg BT 267.88 189.25 Td (months ) Tj ET Q q 0 0 0 rg BT 299.48 189.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 325.51 189.25 Td (June ) Tj ET Q q 0 0 0 rg BT 345.99 189.25 Td (30, ) Tj ET Q q 0 0 0 rg BT 360.64 189.25 Td (2018, ) Tj ET Q q 0 0 0 rg BT 385.30 189.25 Td (originally ) Tj ET Q q 0 0 0 rg BT 426.33 189.25 Td (reported ) Tj ET Q q 0 0 0 rg BT 461.80 189.25 Td (as�$134.1 ) Tj ET Q q 0 0 0 rg BT 502.29 189.25 Td (million, ) Tj ET Q q 0 0 0 rg BT 535.83 189.25 Td (should ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 177.25 Td (have ) Tj ET Q q 0 0 0 rg BT 88.36 177.25 Td (been�$134.9 ) Tj ET Q q 0 0 0 rg BT 139.23 177.25 Td (million. ) Tj ET Q q 0 0 0 rg BT 172.60 177.25 Td ( ) Tj ET Q q 0 0 0 rg BT 174.59 177.25 Td (Management ) Tj ET Q q 0 0 0 rg BT 228.78 177.25 Td (has ) Tj ET Q q 0 0 0 rg BT 244.10 177.25 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 284.39 177.25 Td (the ) Tj ET Q q 0 0 0 rg BT 298.60 177.25 Td (quantitative ) Tj ET Q q 0 0 0 rg BT 347.79 177.25 Td (and ) Tj ET Q q 0 0 0 rg BT 364.21 177.25 Td (qualitative ) Tj ET Q q 0 0 0 rg BT 408.41 177.25 Td (impact ) Tj ET Q q 0 0 0 rg BT 437.61 177.25 Td (of ) Tj ET Q q 0 0 0 rg BT 447.92 177.25 Td (the ) Tj ET Q q 0 0 0 rg BT 462.13 177.25 Td (error ) Tj ET Q q 0 0 0 rg BT 483.54 177.25 Td (to ) Tj ET Q q 0 0 0 rg BT 493.30 177.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 537.51 177.25 Td (issued ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 165.25 Td (unaudited ) Tj ET Q q 0 0 0 rg BT 109.56 165.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 162.73 165.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 207.57 165.25 Td (of ) Tj ET Q q 0 0 0 rg BT 218.53 165.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 238.93 165.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 263.78 165.25 Td (and ) Tj ET Q q 0 0 0 rg BT 280.85 165.25 Td (concluded ) Tj ET Q q 0 0 0 rg BT 324.57 165.25 Td (that ) Tj ET Q q 0 0 0 rg BT 342.19 165.25 Td (the ) Tj ET Q q 0 0 0 rg BT 357.04 165.25 Td (previously ) Tj ET Q q 0 0 0 rg BT 401.88 165.25 Td (issued ) Tj ET Q q 0 0 0 rg BT 429.51 165.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 482.68 165.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 520.29 165.25 Td (statements ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 153.25 Td (were ) Tj ET Q q 0 0 0 rg BT 89.43 153.25 Td (not ) Tj ET Q q 0 0 0 rg BT 104.71 153.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 147.74 153.25 Td (misstated.) Tj ET Q endstream endobj 209 0 obj <> endobj 210 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 30.60 Td (104) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 725.18505859375 m 461.66796875 725.18505859375 l s q 0 0 0 rg BT 49.50 726.75 Td (Item 9. Changes in and Disagr) Tj ET Q q 0 0 0 rg BT 178.78 726.75 Td (eements with ) Tj ET Q q 0 0 0 rg BT 236.55 726.75 Td (Accountants on ) Tj ET Q q 0 0 0 rg BT 304.89 726.75 Td (Accounting and Financial Disclosur) Tj ET Q q 0 0 0 rg BT 457.23 726.75 Td (e) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 702.75 Td (None.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.75 Td (�) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 677.18505859375 m 195.330078125 677.18505859375 l s q 0 0 0 rg BT 49.50 678.75 Td (Item 9A. Contr) Tj ET Q q 0 0 0 rg BT 114.58 678.75 Td (ols and Pr) Tj ET Q q 0 0 0 rg BT 157.74 678.75 Td (ocedur) Tj ET Q q 0 0 0 rg BT 187.00 678.75 Td (es) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 654.75 Td (Evaluation ) Tj ET Q q 0 0 0 rg BT 98.68 654.75 Td (of ) Tj ET Q q 0 0 0 rg BT 109.51 654.75 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 149.33 654.75 Td (e ) Tj ET Q q 0 0 0 rg BT 156.27 654.75 Td (Contr) Tj ET Q q 0 0 0 rg BT 181.64 654.75 Td (ols ) Tj ET Q q 0 0 0 rg BT 195.81 654.75 Td (and ) Tj ET Q q 0 0 0 rg BT 214.43 654.75 Td (Pr) Tj ET Q q 0 0 0 rg BT 224.80 654.75 Td (ocedur) Tj ET Q q 0 0 0 rg BT 254.06 654.75 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 630.75 Td (As ) Tj ET Q q 0 0 0 rg BT 80.16 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 90.04 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 103.81 630.75 Td (end ) Tj ET Q q 0 0 0 rg BT 119.80 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 129.68 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 143.44 630.75 Td (period ) Tj ET Q q 0 0 0 rg BT 170.54 630.75 Td (covered ) Tj ET Q q 0 0 0 rg BT 203.73 630.75 Td (by ) Tj ET Q q 0 0 0 rg BT 215.28 630.75 Td (this ) Tj ET Q q 0 0 0 rg BT 231.28 630.75 Td (report, ) Tj ET Q q 0 0 0 rg BT 259.21 630.75 Td (an ) Tj ET Q q 0 0 0 rg BT 270.19 630.75 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 313.39 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 323.27 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 337.04 630.75 Td (ef) Tj ET Q q 0 0 0 rg BT 344.63 630.75 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 390.60 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 400.48 630.75 Td (the ) Tj ET Q q 0 0 0 rg BT 414.25 630.75 Td (design ) Tj ET Q q 0 0 0 rg BT 441.90 630.75 Td (and ) Tj ET Q q 0 0 0 rg BT 457.89 630.75 Td (operation ) Tj ET Q q 0 0 0 rg BT 497.20 630.75 Td (of ) Tj ET Q q 0 0 0 rg BT 507.08 630.75 Td (our ) Tj ET Q q 0 0 0 rg BT 521.96 630.75 Td (disclosure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 618.75 Td (controls ) Tj ET Q q 0 0 0 rg BT 83.87 618.75 Td (and ) Tj ET Q q 0 0 0 rg BT 100.46 618.75 Td (procedures ) Tj ET Q q 0 0 0 rg BT 146.48 618.75 Td (\(as ) Tj ET Q q 0 0 0 rg BT 160.29 618.75 Td (defined ) Tj ET Q q 0 0 0 rg BT 192.42 618.75 Td (in ) Tj ET Q q 0 0 0 rg BT 202.35 618.75 Td (Rule ) Tj ET Q q 0 0 0 rg BT 223.39 618.75 Td (13a-15\(e\) ) Tj ET Q q 0 0 0 rg BT 264.41 618.75 Td (under ) Tj ET Q q 0 0 0 rg BT 289.33 618.75 Td (the ) Tj ET Q q 0 0 0 rg BT 303.69 618.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 344.79 618.75 Td (Act\) ) Tj ET Q q 0 0 0 rg BT 364.71 618.75 Td (was ) Tj ET Q q 0 0 0 rg BT 382.42 618.75 Td (performed ) Tj ET Q q 0 0 0 rg BT 426.21 618.75 Td (under ) Tj ET Q q 0 0 0 rg BT 451.13 618.75 Td (the ) Tj ET Q q 0 0 0 rg BT 465.50 618.75 Td (supervision ) Tj ET Q q 0 0 0 rg BT 513.76 618.75 Td (and ) Tj ET Q q 0 0 0 rg BT 530.35 618.75 Td (with ) Tj ET Q q 0 0 0 rg BT 550.28 618.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.75 Td (participation ) Tj ET Q q 0 0 0 rg BT 102.85 606.75 Td (of ) Tj ET Q q 0 0 0 rg BT 113.99 606.75 Td (management, ) Tj ET Q q 0 0 0 rg BT 170.39 606.75 Td (including ) Tj ET Q q 0 0 0 rg BT 210.97 606.75 Td (our ) Tj ET Q q 0 0 0 rg BT 227.11 606.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 252.14 606.75 Td (Executive ) Tj ET Q q 0 0 0 rg BT 294.93 606.75 Td (Of) Tj ET Q q 0 0 0 rg BT 305.30 606.75 Td (ficer ) Tj ET Q q 0 0 0 rg BT 326.42 606.75 Td (and ) Tj ET Q q 0 0 0 rg BT 343.67 606.75 Td (our ) Tj ET Q q 0 0 0 rg BT 359.81 606.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 384.84 606.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 424.86 606.75 Td (Of) Tj ET Q q 0 0 0 rg BT 435.23 606.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 453.00 606.75 Td (.��Based ) Tj ET Q q 0 0 0 rg BT 487.74 606.75 Td (on ) Tj ET Q q 0 0 0 rg BT 500.55 606.75 Td (that ) Tj ET Q q 0 0 0 rg BT 518.36 606.75 Td (evaluation, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 594.75 Td (our ) Tj ET Q q 0 0 0 rg BT 65.37 594.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 90.13 594.75 Td (Executive ) Tj ET Q q 0 0 0 rg BT 132.65 594.75 Td (Of) Tj ET Q q 0 0 0 rg BT 143.02 594.75 Td (ficer ) Tj ET Q q 0 0 0 rg BT 163.88 594.75 Td (and ) Tj ET Q q 0 0 0 rg BT 180.86 594.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 205.62 594.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 245.37 594.75 Td (Of) Tj ET Q q 0 0 0 rg BT 255.74 594.75 Td (ficer ) Tj ET Q q 0 0 0 rg BT 276.60 594.75 Td (concluded ) Tj ET Q q 0 0 0 rg BT 320.23 594.75 Td (that ) Tj ET Q q 0 0 0 rg BT 337.77 594.75 Td (our ) Tj ET Q q 0 0 0 rg BT 353.64 594.75 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 396.73 594.75 Td (controls ) Tj ET Q q 0 0 0 rg BT 431.49 594.75 Td (and ) Tj ET Q q 0 0 0 rg BT 448.47 594.75 Td (procedures ) Tj ET Q q 0 0 0 rg BT 494.88 594.75 Td (were ) Tj ET Q q 0 0 0 rg BT 516.85 594.75 Td (ef) Tj ET Q q 0 0 0 rg BT 524.44 594.75 Td (fective ) Tj ET Q q 0 0 0 rg BT 554.18 594.75 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 582.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 60.78 582.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 119.81 582.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 139.81 582.75 Td (, ) Tj ET Q q 0 0 0 rg BT 145.26 582.75 Td (to ) Tj ET Q q 0 0 0 rg BT 155.99 582.75 Td (ensure ) Tj ET Q q 0 0 0 rg BT 185.03 582.75 Td (that ) Tj ET Q q 0 0 0 rg BT 202.98 582.75 Td (information ) Tj ET Q q 0 0 0 rg BT 253.14 582.75 Td (that ) Tj ET Q q 0 0 0 rg BT 271.08 582.75 Td (is ) Tj ET Q q 0 0 0 rg BT 280.70 582.75 Td (required ) Tj ET Q q 0 0 0 rg BT 316.96 582.75 Td (to ) Tj ET Q q 0 0 0 rg BT 327.69 582.75 Td (be ) Tj ET Q q 0 0 0 rg BT 340.07 582.75 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 380.24 582.75 Td (in ) Tj ET Q q 0 0 0 rg BT 390.97 582.75 Td (the ) Tj ET Q q 0 0 0 rg BT 406.13 582.75 Td (reports ) Tj ET Q q 0 0 0 rg BT 436.85 582.75 Td (the ) Tj ET Q q 0 0 0 rg BT 452.01 582.75 Td (Company ) Tj ET Q q 0 0 0 rg BT 493.85 582.75 Td (files ) Tj ET Q q 0 0 0 rg BT 514.01 582.75 Td (and ) Tj ET Q q 0 0 0 rg BT 531.40 582.75 Td (submits ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.75 Td (under ) Tj ET Q q 0 0 0 rg BT 75.53 570.75 Td (the ) Tj ET Q q 0 0 0 rg BT 91.00 570.75 Td (Securities ) Tj ET Q q 0 0 0 rg BT 133.70 570.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 175.66 570.75 Td (Act ) Tj ET Q q 0 0 0 rg BT 193.36 570.75 Td (of ) Tj ET Q q 0 0 0 rg BT 204.95 570.75 Td (1934 ) Tj ET Q q 0 0 0 rg BT 228.21 570.75 Td (is ) Tj ET Q q 0 0 0 rg BT 238.14 570.75 Td (recorded; ) Tj ET Q q 0 0 0 rg BT 279.15 570.75 Td (that ) Tj ET Q q 0 0 0 rg BT 297.40 570.75 Td (it ) Tj ET Q q 0 0 0 rg BT 306.22 570.75 Td (is ) Tj ET Q q 0 0 0 rg BT 316.15 570.75 Td (processed, ) Tj ET Q q 0 0 0 rg BT 361.34 570.75 Td (summarized ) Tj ET Q q 0 0 0 rg BT 413.47 570.75 Td (and ) Tj ET Q q 0 0 0 rg BT 431.17 570.75 Td (reported ) Tj ET Q q 0 0 0 rg BT 467.74 570.75 Td (within ) Tj ET Q q 0 0 0 rg BT 496.56 570.75 Td (the ) Tj ET Q q 0 0 0 rg BT 512.03 570.75 Td (time ) Tj ET Q q 0 0 0 rg BT 533.07 570.75 Td (periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 558.75 Td (specified ) Tj ET Q q 0 0 0 rg BT 87.48 558.75 Td (in ) Tj ET Q q 0 0 0 rg BT 97.15 558.75 Td (the�SEC�) Tj ET Q q 0 0 0 rg BT 132.98 558.75 Td (s ) Tj ET Q q 0 0 0 rg BT 138.76 558.75 Td (rules ) Tj ET Q q 0 0 0 rg BT 160.09 558.75 Td (and ) Tj ET Q q 0 0 0 rg BT 176.41 558.75 Td (forms; ) Tj ET Q q 0 0 0 rg BT 204.41 558.75 Td (and ) Tj ET Q q 0 0 0 rg BT 220.73 558.75 Td (that ) Tj ET Q q 0 0 0 rg BT 237.62 558.75 Td (information ) Tj ET Q q 0 0 0 rg BT 286.71 558.75 Td (that ) Tj ET Q q 0 0 0 rg BT 303.60 558.75 Td (is ) Tj ET Q q 0 0 0 rg BT 312.15 558.75 Td (required ) Tj ET Q q 0 0 0 rg BT 347.36 558.75 Td (to ) Tj ET Q q 0 0 0 rg BT 357.02 558.75 Td (be ) Tj ET Q q 0 0 0 rg BT 368.35 558.75 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 407.45 558.75 Td (under ) Tj ET Q q 0 0 0 rg BT 432.11 558.75 Td (the ) Tj ET Q q 0 0 0 rg BT 446.21 558.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 487.11 558.75 Td (Act ) Tj ET Q q 0 0 0 rg BT 503.43 558.75 Td (is ) Tj ET Q q 0 0 0 rg BT 511.99 558.75 Td (accumulated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.75 Td (and ) Tj ET Q q 0 0 0 rg BT 65.97 546.75 Td (communicated ) Tj ET Q q 0 0 0 rg BT 126.87 546.75 Td (to ) Tj ET Q q 0 0 0 rg BT 136.67 546.75 Td (management, ) Tj ET Q q 0 0 0 rg BT 192.29 546.75 Td (including ) Tj ET Q q 0 0 0 rg BT 232.10 546.75 Td (our ) Tj ET Q q 0 0 0 rg BT 247.46 546.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 271.71 546.75 Td (Executive ) Tj ET Q q 0 0 0 rg BT 313.72 546.75 Td (Of) Tj ET Q q 0 0 0 rg BT 324.09 546.75 Td (ficer ) Tj ET Q q 0 0 0 rg BT 344.43 546.75 Td (and ) Tj ET Q q 0 0 0 rg BT 360.90 546.75 Td (our ) Tj ET Q q 0 0 0 rg BT 376.26 546.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 400.51 546.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 439.75 546.75 Td (Of) Tj ET Q q 0 0 0 rg BT 450.12 546.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 468.04 546.75 Td (, ) Tj ET Q q 0 0 0 rg BT 472.57 546.75 Td (as ) Tj ET Q q 0 0 0 rg BT 482.93 546.75 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 530.49 546.75 Td (to ) Tj ET Q q 0 0 0 rg BT 540.30 546.75 Td (allow ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 534.75 Td (timely ) Tj ET Q q 0 0 0 rg BT 77.55 534.75 Td (decisions ) Tj ET Q q 0 0 0 rg BT 117.27 534.75 Td (regarding ) Tj ET Q q 0 0 0 rg BT 158.08 534.75 Td (required ) Tj ET Q q 0 0 0 rg BT 193.90 534.75 Td (disclosure.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 510.75 Td (Evaluation ) Tj ET Q q 0 0 0 rg BT 98.68 510.75 Td (of ) Tj ET Q q 0 0 0 rg BT 109.51 510.75 Td (Changes ) Tj ET Q q 0 0 0 rg BT 148.68 510.75 Td (in ) Tj ET Q q 0 0 0 rg BT 159.52 510.75 Td (Internal ) Tj ET Q q 0 0 0 rg BT 197.02 510.75 Td (Contr) Tj ET Q q 0 0 0 rg BT 222.40 510.75 Td (ol ) Tj ET Q q 0 0 0 rg BT 232.67 510.75 Td (over) Tj ET Q q 0 0 0 rg BT 251.37 510.75 Td ( ) Tj ET Q q 0 0 0 rg BT 253.87 510.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 296.38 510.75 Td (Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 486.75 Td (Under ) Tj ET Q q 0 0 0 rg BT 95.40 486.75 Td (the ) Tj ET Q q 0 0 0 rg BT 110.53 486.75 Td (supervision ) Tj ET Q q 0 0 0 rg BT 159.55 486.75 Td (and ) Tj ET Q q 0 0 0 rg BT 176.90 486.75 Td (with ) Tj ET Q q 0 0 0 rg BT 197.59 486.75 Td (the ) Tj ET Q q 0 0 0 rg BT 212.72 486.75 Td (participation ) Tj ET Q q 0 0 0 rg BT 266.17 486.75 Td (of ) Tj ET Q q 0 0 0 rg BT 277.41 486.75 Td (our ) Tj ET Q q 0 0 0 rg BT 293.65 486.75 Td (management, ) Tj ET Q q 0 0 0 rg BT 350.15 486.75 Td (including ) Tj ET Q q 0 0 0 rg BT 390.84 486.75 Td (our ) Tj ET Q q 0 0 0 rg BT 407.08 486.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 432.21 486.75 Td (Executive ) Tj ET Q q 0 0 0 rg BT 475.10 486.75 Td (Of) Tj ET Q q 0 0 0 rg BT 485.47 486.75 Td (ficer ) Tj ET Q q 0 0 0 rg BT 506.70 486.75 Td (and ) Tj ET Q q 0 0 0 rg BT 524.05 486.75 Td (our ) Tj ET Q q 0 0 0 rg BT 540.29 486.75 Td (Chief ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 474.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 89.05 474.75 Td (Of) Tj ET Q q 0 0 0 rg BT 99.42 474.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 117.34 474.75 Td (, ) Tj ET Q q 0 0 0 rg BT 122.18 474.75 Td (we ) Tj ET Q q 0 0 0 rg BT 136.18 474.75 Td (have ) Tj ET Q q 0 0 0 rg BT 157.40 474.75 Td (determined ) Tj ET Q q 0 0 0 rg BT 204.72 474.75 Td (that, ) Tj ET Q q 0 0 0 rg BT 224.56 474.75 Td (during ) Tj ET Q q 0 0 0 rg BT 253.01 474.75 Td (the ) Tj ET Q q 0 0 0 rg BT 267.57 474.75 Td (fourth ) Tj ET Q q 0 0 0 rg BT 294.35 474.75 Td (quarter ) Tj ET Q q 0 0 0 rg BT 325.00 474.75 Td (of ) Tj ET Q q 0 0 0 rg BT 335.67 474.75 Td (fiscal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 359.67 474.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 379.67 474.75 Td (, ) Tj ET Q q 0 0 0 rg BT 384.51 474.75 Td (there ) Tj ET Q q 0 0 0 rg BT 406.84 474.75 Td (were ) Tj ET Q q 0 0 0 rg BT 428.61 474.75 Td (no ) Tj ET Q q 0 0 0 rg BT 440.95 474.75 Td (changes ) Tj ET Q q 0 0 0 rg BT 475.50 474.75 Td (in ) Tj ET Q q 0 0 0 rg BT 485.62 474.75 Td (our ) Tj ET Q q 0 0 0 rg BT 501.29 474.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 534.17 474.75 Td (control ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 462.75 Td (over ) Tj ET Q q 0 0 0 rg BT 68.92 462.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 105.55 462.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 143.86 462.75 Td (that ) Tj ET Q q 0 0 0 rg BT 160.51 462.75 Td (have ) Tj ET Q q 0 0 0 rg BT 181.04 462.75 Td (materially ) Tj ET Q q 0 0 0 rg BT 223.22 462.75 Td (af) Tj ET Q q 0 0 0 rg BT 230.81 462.75 Td (fected, ) Tj ET Q q 0 0 0 rg BT 259.39 462.75 Td (or ) Tj ET Q q 0 0 0 rg BT 269.37 462.75 Td (are ) Tj ET Q q 0 0 0 rg BT 283.23 462.75 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 328.20 462.75 Td (likely ) Tj ET Q q 0 0 0 rg BT 352.62 462.75 Td (to ) Tj ET Q q 0 0 0 rg BT 362.05 462.75 Td (materially ) Tj ET Q q 0 0 0 rg BT 404.24 462.75 Td (af) Tj ET Q q 0 0 0 rg BT 411.83 462.75 Td (fect, ) Tj ET Q q 0 0 0 rg BT 430.97 462.75 Td (our ) Tj ET Q q 0 0 0 rg BT 445.95 462.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 478.14 462.75 Td (control ) Tj ET Q q 0 0 0 rg BT 508.12 462.75 Td (over ) Tj ET Q q 0 0 0 rg BT 527.54 462.75 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 450.75 Td (reporting.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 426.75 Td (Management�) Tj ET Q q 0 0 0 rg BT 108.56 426.75 Td (s ) Tj ET Q q 0 0 0 rg BT 114.95 426.75 Td (Report ) Tj ET Q q 0 0 0 rg BT 147.44 426.75 Td (on ) Tj ET Q q 0 0 0 rg BT 160.50 426.75 Td (Internal ) Tj ET Q q 0 0 0 rg BT 198.00 426.75 Td (Contr) Tj ET Q q 0 0 0 rg BT 223.37 426.75 Td (ol ) Tj ET Q q 0 0 0 rg BT 233.65 426.75 Td (over) Tj ET Q q 0 0 0 rg BT 252.35 426.75 Td ( ) Tj ET Q q 0 0 0 rg BT 254.85 426.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 297.35 426.75 Td (Reporting) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 402.75 Td (Our ) Tj ET Q q 0 0 0 rg BT 85.21 402.75 Td (management ) Tj ET Q q 0 0 0 rg BT 138.46 402.75 Td (is ) Tj ET Q q 0 0 0 rg BT 147.29 402.75 Td (responsible ) Tj ET Q q 0 0 0 rg BT 195.00 402.75 Td (for ) Tj ET Q q 0 0 0 rg BT 208.82 402.75 Td (establishing ) Tj ET Q q 0 0 0 rg BT 258.75 402.75 Td (and ) Tj ET Q q 0 0 0 rg BT 275.35 402.75 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 325.28 402.75 Td (adequate ) Tj ET Q q 0 0 0 rg BT 362.97 402.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 395.67 402.75 Td (control ) Tj ET Q q 0 0 0 rg BT 426.15 402.75 Td (over ) Tj ET Q q 0 0 0 rg BT 446.08 402.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 483.22 402.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 522.04 402.75 Td (as ) Tj ET Q q 0 0 0 rg BT 532.53 402.75 Td (defined ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 390.75 Td (in ) Tj ET Q q 0 0 0 rg BT 61.08 390.75 Td (Rules ) Tj ET Q q 0 0 0 rg BT 87.66 390.75 Td (13a-15\(f\) ) Tj ET Q q 0 0 0 rg BT 129.22 390.75 Td (and ) Tj ET Q q 0 0 0 rg BT 147.46 390.75 Td (15d-15\(f\) ) Tj ET Q q 0 0 0 rg BT 189.58 390.75 Td (of ) Tj ET Q q 0 0 0 rg BT 201.71 390.75 Td (the ) Tj ET Q q 0 0 0 rg BT 217.73 390.75 Td (Securities ) Tj ET Q q 0 0 0 rg BT 260.96 390.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 303.35 390.75 Td (Act ) Tj ET Q q 0 0 0 rg BT 321.59 390.75 Td (of ) Tj ET Q q 0 0 0 rg BT 333.72 390.75 Td (1934, ) Tj ET Q q 0 0 0 rg BT 360.02 390.75 Td (as ) Tj ET Q q 0 0 0 rg BT 372.15 390.75 Td (amended.��Under ) Tj ET Q q 0 0 0 rg BT 444.54 390.75 Td (the ) Tj ET Q q 0 0 0 rg BT 460.56 390.75 Td (supervision ) Tj ET Q q 0 0 0 rg BT 510.47 390.75 Td (and ) Tj ET Q q 0 0 0 rg BT 528.71 390.75 Td (with ) Tj ET Q q 0 0 0 rg BT 550.29 390.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 378.75 Td (participation ) Tj ET Q q 0 0 0 rg BT 104.38 378.75 Td (of ) Tj ET Q q 0 0 0 rg BT 117.05 378.75 Td (our ) Tj ET Q q 0 0 0 rg BT 134.73 378.75 Td (management, ) Tj ET Q q 0 0 0 rg BT 192.66 378.75 Td (including ) Tj ET Q q 0 0 0 rg BT 234.77 378.75 Td (our ) Tj ET Q q 0 0 0 rg BT 252.45 378.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 279.01 378.75 Td (Executive ) Tj ET Q q 0 0 0 rg BT 323.33 378.75 Td (Of) Tj ET Q q 0 0 0 rg BT 333.70 378.75 Td (ficer ) Tj ET Q q 0 0 0 rg BT 356.36 378.75 Td (and ) Tj ET Q q 0 0 0 rg BT 375.14 378.75 Td (our ) Tj ET Q q 0 0 0 rg BT 392.81 378.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 419.37 378.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 460.93 378.75 Td (Of) Tj ET Q q 0 0 0 rg BT 471.30 378.75 Td (ficer) Tj ET Q q 0 0 0 rg BT 489.21 378.75 Td (, ) Tj ET Q q 0 0 0 rg BT 496.06 378.75 Td (we ) Tj ET Q q 0 0 0 rg BT 512.06 378.75 Td (assessed ) Tj ET Q q 0 0 0 rg BT 550.28 378.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.75 Td (ef) Tj ET Q q 0 0 0 rg BT 57.09 366.75 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 103.00 366.75 Td (of ) Tj ET Q q 0 0 0 rg BT 112.83 366.75 Td (our ) Tj ET Q q 0 0 0 rg BT 127.65 366.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 159.69 366.75 Td (control ) Tj ET Q q 0 0 0 rg BT 189.50 366.75 Td (over ) Tj ET Q q 0 0 0 rg BT 208.77 366.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 245.24 366.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 283.39 366.75 Td (as ) Tj ET Q q 0 0 0 rg BT 293.21 366.75 Td (of ) Tj ET Q q 0 0 0 rg BT 303.04 366.75 Td (the ) Tj ET Q q 0 0 0 rg BT 316.75 366.75 Td (end ) Tj ET Q q 0 0 0 rg BT 332.68 366.75 Td (of ) Tj ET Q q 0 0 0 rg BT 342.50 366.75 Td (the ) Tj ET Q q 0 0 0 rg BT 356.21 366.75 Td (period ) Tj ET Q q 0 0 0 rg BT 383.25 366.75 Td (covered ) Tj ET Q q 0 0 0 rg BT 416.39 366.75 Td (by ) Tj ET Q q 0 0 0 rg BT 427.88 366.75 Td (this ) Tj ET Q q 0 0 0 rg BT 443.82 366.75 Td (report ) Tj ET Q q 0 0 0 rg BT 469.19 366.75 Td (based ) Tj ET Q q 0 0 0 rg BT 493.46 366.75 Td (on ) Tj ET Q q 0 0 0 rg BT 504.95 366.75 Td (the ) Tj ET Q q 0 0 0 rg BT 518.66 366.75 Td (framework ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 354.75 Td (in ) Tj ET Q q 0 0 0 rg BT 60.72 354.75 Td (�Internal ) Tj ET Q q 0 0 0 rg BT 99.69 354.75 Td (Control ) Tj ET Q q 0 0 0 rg BT 133.68 354.75 Td (� ) Tj ET Q q 0 0 0 rg BT 142.12 354.75 Td (Integrated ) Tj ET Q q 0 0 0 rg BT 186.09 354.75 Td (Framework� ) Tj ET Q q 0 0 0 rg BT 240.07 354.75 Td (\(2013\) ) Tj ET Q q 0 0 0 rg BT 270.17 354.75 Td (issued ) Tj ET Q q 0 0 0 rg BT 298.61 354.75 Td (by ) Tj ET Q q 0 0 0 rg BT 312.05 354.75 Td (the ) Tj ET Q q 0 0 0 rg BT 327.70 354.75 Td (Committee ) Tj ET Q q 0 0 0 rg BT 375.58 354.75 Td (of ) Tj ET Q q 0 0 0 rg BT 387.35 354.75 Td (Sponsoring ) Tj ET Q q 0 0 0 rg BT 436.35 354.75 Td (Or) Tj ET Q q 0 0 0 rg BT 446.72 354.75 Td (ganizations ) Tj ET Q q 0 0 0 rg BT 495.70 354.75 Td (of ) Tj ET Q q 0 0 0 rg BT 507.47 354.75 Td (the ) Tj ET Q q 0 0 0 rg BT 522.88 354.75 Td (T) Tj ET Q q 0 0 0 rg BT 528.64 354.75 Td (readway ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 342.75 Td (Commission.��Based ) Tj ET Q q 0 0 0 rg BT 134.41 342.75 Td (on ) Tj ET Q q 0 0 0 rg BT 146.82 342.75 Td (that ) Tj ET Q q 0 0 0 rg BT 164.22 342.75 Td (assessment, ) Tj ET Q q 0 0 0 rg BT 213.57 342.75 Td (our ) Tj ET Q q 0 0 0 rg BT 229.30 342.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 253.93 342.75 Td (Executive ) Tj ET Q q 0 0 0 rg BT 296.32 342.75 Td (Of) Tj ET Q q 0 0 0 rg BT 306.69 342.75 Td (ficer ) Tj ET Q q 0 0 0 rg BT 327.41 342.75 Td (and ) Tj ET Q q 0 0 0 rg BT 344.26 342.75 Td (our ) Tj ET Q q 0 0 0 rg BT 359.99 342.75 Td (Chief ) Tj ET Q q 0 0 0 rg BT 384.62 342.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 424.24 342.75 Td (Of) Tj ET Q q 0 0 0 rg BT 434.61 342.75 Td (ficer ) Tj ET Q q 0 0 0 rg BT 455.33 342.75 Td (concluded ) Tj ET Q q 0 0 0 rg BT 498.83 342.75 Td (that ) Tj ET Q q 0 0 0 rg BT 516.23 342.75 Td (our ) Tj ET Q q 0 0 0 rg BT 531.97 342.75 Td (internal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 330.75 Td (control ) Tj ET Q q 0 0 0 rg BT 80.47 330.75 Td (over ) Tj ET Q q 0 0 0 rg BT 100.88 330.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 138.50 330.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 177.80 330.75 Td (was ) Tj ET Q q 0 0 0 rg BT 196.00 330.75 Td (ef) Tj ET Q q 0 0 0 rg BT 203.58 330.75 Td (fective ) Tj ET Q q 0 0 0 rg BT 233.43 330.75 Td (to ) Tj ET Q q 0 0 0 rg BT 243.85 330.75 Td (provide ) Tj ET Q q 0 0 0 rg BT 277.04 330.75 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 322.44 330.75 Td (assurance ) Tj ET Q q 0 0 0 rg BT 363.95 330.75 Td (regarding ) Tj ET Q q 0 0 0 rg BT 404.91 330.75 Td (the ) Tj ET Q q 0 0 0 rg BT 419.77 330.75 Td (reliability ) Tj ET Q q 0 0 0 rg BT 461.29 330.75 Td (of ) Tj ET Q q 0 0 0 rg BT 472.26 330.75 Td (our ) Tj ET Q q 0 0 0 rg BT 488.23 330.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 525.86 330.75 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 318.75 Td (and ) Tj ET Q q 0 0 0 rg BT 67.58 318.75 Td (the ) Tj ET Q q 0 0 0 rg BT 83.43 318.75 Td (preparation ) Tj ET Q q 0 0 0 rg BT 132.60 318.75 Td (of ) Tj ET Q q 0 0 0 rg BT 144.57 318.75 Td (our ) Tj ET Q q 0 0 0 rg BT 161.54 318.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 200.15 318.75 Td (statements ) Tj ET Q q 0 0 0 rg BT 246.00 318.75 Td (for ) Tj ET Q q 0 0 0 rg BT 261.30 318.75 Td (external ) Tj ET Q q 0 0 0 rg BT 297.14 318.75 Td (purposes ) Tj ET Q q 0 0 0 rg BT 336.33 318.75 Td (in ) Tj ET Q q 0 0 0 rg BT 347.75 318.75 Td (accordance ) Tj ET Q q 0 0 0 rg BT 396.35 318.75 Td (with ) Tj ET Q q 0 0 0 rg BT 417.76 318.75 Td (U.S. ) Tj ET Q q 0 0 0 rg BT 439.18 318.75 Td (generally ) Tj ET Q q 0 0 0 rg BT 480.02 318.75 Td (accepted ) Tj ET Q q 0 0 0 rg BT 518.63 318.75 Td (accounting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 306.75 Td (principles.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 282.75 Td (The ) Tj ET Q q 0 0 0 rg BT 88.71 282.75 Td (ef) Tj ET Q q 0 0 0 rg BT 96.30 282.75 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 146.39 282.75 Td (of ) Tj ET Q q 0 0 0 rg BT 160.38 282.75 Td (our ) Tj ET Q q 0 0 0 rg BT 179.38 282.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 215.58 282.75 Td (control ) Tj ET Q q 0 0 0 rg BT 249.57 282.75 Td (over ) Tj ET Q q 0 0 0 rg BT 273.00 282.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 313.65 282.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 355.97 282.75 Td (as ) Tj ET Q q 0 0 0 rg BT 369.96 282.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 383.96 282.75 Td (December�31, ) Tj ET Q q 0 0 0 rg BT 445.70 282.75 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.70 282.75 Td (, ) Tj ET Q q 0 0 0 rg BT 473.87 282.75 Td (has ) Tj ET Q q 0 0 0 rg BT 492.86 282.75 Td (been ) Tj ET Q q 0 0 0 rg BT 517.40 282.75 Td (audited ) Tj ET Q q 0 0 0 rg BT 552.50 282.75 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 270.75 Td (PricewaterhouseCoopers ) Tj ET Q q 0 0 0 rg BT 151.41 270.75 Td (LLP) Tj ET Q q 0 0 0 rg BT 168.08 270.75 Td (, ) Tj ET Q q 0 0 0 rg BT 173.08 270.75 Td (an ) Tj ET Q q 0 0 0 rg BT 185.02 270.75 Td (independent ) Tj ET Q q 0 0 0 rg BT 236.39 270.75 Td (registered ) Tj ET Q q 0 0 0 rg BT 278.32 270.75 Td (public ) Tj ET Q q 0 0 0 rg BT 305.81 270.75 Td (accounting ) Tj ET Q q 0 0 0 rg BT 352.19 270.75 Td (firm, ) Tj ET Q q 0 0 0 rg BT 374.40 270.75 Td (as ) Tj ET Q q 0 0 0 rg BT 385.23 270.75 Td (stated ) Tj ET Q q 0 0 0 rg BT 411.06 270.75 Td (in ) Tj ET Q q 0 0 0 rg BT 421.34 270.75 Td (the ) Tj ET Q q 0 0 0 rg BT 436.05 270.75 Td (report ) Tj ET Q q 0 0 0 rg BT 462.43 270.75 Td (that ) Tj ET Q q 0 0 0 rg BT 479.92 270.75 Td (appears ) Tj ET Q q 0 0 0 rg BT 512.96 270.75 Td (herein.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 246.75 Td (Important ) Tj ET Q q 0 0 0 rg BT 96.44 246.75 Td (Considerations) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 222.75 Td (The ) Tj ET Q q 0 0 0 rg BT 86.34 222.75 Td (ef) Tj ET Q q 0 0 0 rg BT 93.92 222.75 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 141.64 222.75 Td (of ) Tj ET Q q 0 0 0 rg BT 153.25 222.75 Td (our ) Tj ET Q q 0 0 0 rg BT 169.87 222.75 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 213.71 222.75 Td (controls ) Tj ET Q q 0 0 0 rg BT 249.21 222.75 Td (and ) Tj ET Q q 0 0 0 rg BT 266.94 222.75 Td (procedures ) Tj ET Q q 0 0 0 rg BT 314.10 222.75 Td (and ) Tj ET Q q 0 0 0 rg BT 331.82 222.75 Td (our ) Tj ET Q q 0 0 0 rg BT 348.44 222.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 382.27 222.75 Td (control ) Tj ET Q q 0 0 0 rg BT 413.89 222.75 Td (over ) Tj ET Q q 0 0 0 rg BT 434.94 222.75 Td (financial ) Tj ET Q q 0 0 0 rg BT 473.21 222.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 513.16 222.75 Td (is ) Tj ET Q q 0 0 0 rg BT 523.12 222.75 Td (subject ) Tj ET Q q 0 0 0 rg BT 554.73 222.75 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 210.75 Td (various ) Tj ET Q q 0 0 0 rg BT 81.61 210.75 Td (inherent ) Tj ET Q q 0 0 0 rg BT 117.04 210.75 Td (limitations, ) Tj ET Q q 0 0 0 rg BT 164.98 210.75 Td (including ) Tj ET Q q 0 0 0 rg BT 205.42 210.75 Td (cost ) Tj ET Q q 0 0 0 rg BT 224.20 210.75 Td (limitations, ) Tj ET Q q 0 0 0 rg BT 272.15 210.75 Td (judgments ) Tj ET Q q 0 0 0 rg BT 316.48 210.75 Td (used ) Tj ET Q q 0 0 0 rg BT 337.48 210.75 Td (in ) Tj ET Q q 0 0 0 rg BT 347.92 210.75 Td (decision ) Tj ET Q q 0 0 0 rg BT 383.91 210.75 Td (making, ) Tj ET Q q 0 0 0 rg BT 419.08 210.75 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 471.19 210.75 Td (about ) Tj ET Q q 0 0 0 rg BT 496.08 210.75 Td (the ) Tj ET Q q 0 0 0 rg BT 510.96 210.75 Td (likelihood ) Tj ET Q q 0 0 0 rg BT 554.18 210.75 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 198.75 Td (future ) Tj ET Q q 0 0 0 rg BT 76.20 198.75 Td (events, ) Tj ET Q q 0 0 0 rg BT 107.07 198.75 Td (the ) Tj ET Q q 0 0 0 rg BT 122.11 198.75 Td (soundness ) Tj ET Q q 0 0 0 rg BT 166.05 198.75 Td (of ) Tj ET Q q 0 0 0 rg BT 177.20 198.75 Td (our ) Tj ET Q q 0 0 0 rg BT 193.36 198.75 Td (systems, ) Tj ET Q q 0 0 0 rg BT 230.35 198.75 Td (the ) Tj ET Q q 0 0 0 rg BT 245.39 198.75 Td (possibility ) Tj ET Q q 0 0 0 rg BT 289.89 198.75 Td (of ) Tj ET Q q 0 0 0 rg BT 301.04 198.75 Td (human ) Tj ET Q q 0 0 0 rg BT 331.08 198.75 Td (error) Tj ET Q q 0 0 0 rg BT 350.11 198.75 Td (, ) Tj ET Q q 0 0 0 rg BT 355.44 198.75 Td (and ) Tj ET Q q 0 0 0 rg BT 372.70 198.75 Td (the ) Tj ET Q q 0 0 0 rg BT 387.74 198.75 Td (risk ) Tj ET Q q 0 0 0 rg BT 405.56 198.75 Td (of ) Tj ET Q q 0 0 0 rg BT 416.72 198.75 Td (fraud.��Moreover) Tj ET Q q 0 0 0 rg BT 484.34 198.75 Td (, ) Tj ET Q q 0 0 0 rg BT 489.67 198.75 Td (projections ) Tj ET Q q 0 0 0 rg BT 536.92 198.75 Td (of ) Tj ET Q q 0 0 0 rg BT 548.08 198.75 Td (any ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 186.75 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 94.08 186.75 Td (of ) Tj ET Q q 0 0 0 rg BT 105.33 186.75 Td (ef) Tj ET Q q 0 0 0 rg BT 112.92 186.75 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 160.27 186.75 Td (to ) Tj ET Q q 0 0 0 rg BT 170.98 186.75 Td (future ) Tj ET Q q 0 0 0 rg BT 197.78 186.75 Td (periods ) Tj ET Q q 0 0 0 rg BT 230.14 186.75 Td (are ) Tj ET Q q 0 0 0 rg BT 245.28 186.75 Td (subject ) Tj ET Q q 0 0 0 rg BT 276.53 186.75 Td (to ) Tj ET Q q 0 0 0 rg BT 287.23 186.75 Td (the ) Tj ET Q q 0 0 0 rg BT 302.38 186.75 Td (risk ) Tj ET Q q 0 0 0 rg BT 320.30 186.75 Td (that ) Tj ET Q q 0 0 0 rg BT 338.22 186.75 Td (controls ) Tj ET Q q 0 0 0 rg BT 373.37 186.75 Td (may ) Tj ET Q q 0 0 0 rg BT 393.51 186.75 Td (become ) Tj ET Q q 0 0 0 rg BT 427.53 186.75 Td (inadequate ) Tj ET Q q 0 0 0 rg BT 473.77 186.75 Td (because ) Tj ET Q q 0 0 0 rg BT 508.34 186.75 Td (of ) Tj ET Q q 0 0 0 rg BT 519.59 186.75 Td (changes ) Tj ET Q q 0 0 0 rg BT 554.73 186.75 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 174.75 Td (conditions ) Tj ET Q q 0 0 0 rg BT 94.23 174.75 Td (and ) Tj ET Q q 0 0 0 rg BT 111.73 174.75 Td (the ) Tj ET Q q 0 0 0 rg BT 127.01 174.75 Td (risk ) Tj ET Q q 0 0 0 rg BT 145.07 174.75 Td (that ) Tj ET Q q 0 0 0 rg BT 163.13 174.75 Td (the ) Tj ET Q q 0 0 0 rg BT 178.41 174.75 Td (degree ) Tj ET Q q 0 0 0 rg BT 208.12 174.75 Td (of ) Tj ET Q q 0 0 0 rg BT 219.51 174.75 Td (compliance ) Tj ET Q q 0 0 0 rg BT 268.66 174.75 Td (with ) Tj ET Q q 0 0 0 rg BT 289.50 174.75 Td (policies ) Tj ET Q q 0 0 0 rg BT 323.67 174.75 Td (or ) Tj ET Q q 0 0 0 rg BT 335.06 174.75 Td (procedures ) Tj ET Q q 0 0 0 rg BT 381.99 174.75 Td (may ) Tj ET Q q 0 0 0 rg BT 402.27 174.75 Td (deteriorate ) Tj ET Q q 0 0 0 rg BT 448.09 174.75 Td (over ) Tj ET Q q 0 0 0 rg BT 468.92 174.75 Td (time.��Because ) Tj ET Q q 0 0 0 rg BT 530.57 174.75 Td (of ) Tj ET Q q 0 0 0 rg BT 541.96 174.75 Td (these ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 162.75 Td (limitations, ) Tj ET Q q 0 0 0 rg BT 98.06 162.75 Td (there ) Tj ET Q q 0 0 0 rg BT 121.32 162.75 Td (can ) Tj ET Q q 0 0 0 rg BT 138.47 162.75 Td (be ) Tj ET Q q 0 0 0 rg BT 151.19 162.75 Td (no ) Tj ET Q q 0 0 0 rg BT 164.47 162.75 Td (assurance ) Tj ET Q q 0 0 0 rg BT 206.61 162.75 Td (that ) Tj ET Q q 0 0 0 rg BT 224.89 162.75 Td (any ) Tj ET Q q 0 0 0 rg BT 242.60 162.75 Td (system ) Tj ET Q q 0 0 0 rg BT 273.66 162.75 Td (of ) Tj ET Q q 0 0 0 rg BT 285.27 162.75 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 329.09 162.75 Td (controls ) Tj ET Q q 0 0 0 rg BT 364.59 162.75 Td (and ) Tj ET Q q 0 0 0 rg BT 382.30 162.75 Td (procedures ) Tj ET Q q 0 0 0 rg BT 429.45 162.75 Td (or ) Tj ET Q q 0 0 0 rg BT 441.06 162.75 Td (internal ) Tj ET Q q 0 0 0 rg BT 474.88 162.75 Td (control ) Tj ET Q q 0 0 0 rg BT 506.48 162.75 Td (over ) Tj ET Q q 0 0 0 rg BT 527.52 162.75 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 150.75 Td (reporting ) Tj ET Q q 0 0 0 rg BT 88.92 150.75 Td (will ) Tj ET Q q 0 0 0 rg BT 107.25 150.75 Td (be ) Tj ET Q q 0 0 0 rg BT 119.46 150.75 Td (successful ) Tj ET Q q 0 0 0 rg BT 163.32 150.75 Td (in ) Tj ET Q q 0 0 0 rg BT 173.87 150.75 Td (preventing ) Tj ET Q q 0 0 0 rg BT 219.40 150.75 Td (all ) Tj ET Q q 0 0 0 rg BT 232.17 150.75 Td (errors ) Tj ET Q q 0 0 0 rg BT 258.25 150.75 Td (or ) Tj ET Q q 0 0 0 rg BT 269.35 150.75 Td (fraud ) Tj ET Q q 0 0 0 rg BT 293.22 150.75 Td (or ) Tj ET Q q 0 0 0 rg BT 304.32 150.75 Td (in ) Tj ET Q q 0 0 0 rg BT 314.87 150.75 Td (making ) Tj ET Q q 0 0 0 rg BT 347.63 150.75 Td (all ) Tj ET Q q 0 0 0 rg BT 360.39 150.75 Td (material ) Tj ET Q q 0 0 0 rg BT 395.92 150.75 Td (information ) Tj ET Q q 0 0 0 rg BT 445.90 150.75 Td (known ) Tj ET Q q 0 0 0 rg BT 475.89 150.75 Td (in ) Tj ET Q q 0 0 0 rg BT 486.44 150.75 Td (a ) Tj ET Q q 0 0 0 rg BT 493.65 150.75 Td (timely ) Tj ET Q q 0 0 0 rg BT 521.97 150.75 Td (manner ) Tj ET Q q 0 0 0 rg BT 554.72 150.75 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 138.75 Td (the ) Tj ET Q q 0 0 0 rg BT 64.22 138.75 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 112.25 138.75 Td (levels ) Tj ET Q q 0 0 0 rg BT 138.07 138.75 Td (of ) Tj ET Q q 0 0 0 rg BT 148.90 138.75 Td (management.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 113.18505859375 m 168.748046875 113.18505859375 l s q 0 0 0 rg BT 49.50 114.75 Td (Item 9B. Other) Tj ET Q q 0 0 0 rg BT 114.03 114.75 Td ( Information) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 90.75 Td (None.) Tj ET Q endstream endobj 211 0 obj <> endobj 212 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 30.60 Td (105) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 285.90 726.75 Td (P) Tj ET Q q 0 0 0 rg BT 291.27 726.75 Td (AR) Tj ET Q q 0 0 0 rg BT 305.36 726.75 Td (T) Tj ET Q q 0 0 0 rg BT 311.85 726.75 Td ( III) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 701.18505859375 m 330.0712890625 701.18505859375 l s q 0 0 0 rg BT 49.50 702.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 71.99 702.75 Td (10. ) Tj ET Q q 0 0 0 rg BT 86.99 702.75 Td (Dir) Tj ET Q q 0 0 0 rg BT 101.25 702.75 Td (ectors, ) Tj ET Q q 0 0 0 rg BT 131.79 702.75 Td (Executive ) Tj ET Q q 0 0 0 rg BT 175.94 702.75 Td (Officers ) Tj ET Q q 0 0 0 rg BT 212.86 702.75 Td (and ) Tj ET Q q 0 0 0 rg BT 231.49 702.75 Td (Corporate ) Tj ET Q q 0 0 0 rg BT 278.42 702.75 Td (Governance) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 678.75 Td (Except ) Tj ET Q q 0 0 0 rg BT 97.22 678.75 Td (as ) Tj ET Q q 0 0 0 rg BT 107.50 678.75 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 146.67 678.75 Td (below) Tj ET Q q 0 0 0 rg BT 170.46 678.75 Td (, ) Tj ET Q q 0 0 0 rg BT 174.92 678.75 Td (information ) Tj ET Q q 0 0 0 rg BT 224.08 678.75 Td (as ) Tj ET Q q 0 0 0 rg BT 234.37 678.75 Td (to ) Tj ET Q q 0 0 0 rg BT 244.10 678.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 264.38 678.75 Td (10 ) Tj ET Q q 0 0 0 rg BT 276.34 678.75 Td (will ) Tj ET Q q 0 0 0 rg BT 293.85 678.75 Td (be ) Tj ET Q q 0 0 0 rg BT 305.24 678.75 Td (set ) Tj ET Q q 0 0 0 rg BT 318.30 678.75 Td (forth ) Tj ET Q q 0 0 0 rg BT 339.70 678.75 Td (in ) Tj ET Q q 0 0 0 rg BT 349.43 678.75 Td (the ) Tj ET Q q 0 0 0 rg BT 363.60 678.75 Td (Proxy ) Tj ET Q q 0 0 0 rg BT 389.45 678.75 Td (Statement ) Tj ET Q q 0 0 0 rg BT 431.39 678.75 Td (\(�Proxy ) Tj ET Q q 0 0 0 rg BT 465.01 678.75 Td (Statement�\) ) Tj ET Q q 0 0 0 rg BT 514.72 678.75 Td (for ) Tj ET Q q 0 0 0 rg BT 528.33 678.75 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 542.51 678.75 Td (2019) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 666.75 Td (Annual ) Tj ET Q q 0 0 0 rg BT 81.44 666.75 Td (Meeting ) Tj ET Q q 0 0 0 rg BT 117.26 666.75 Td (of ) Tj ET Q q 0 0 0 rg BT 128.09 666.75 Td (Shareholders ) Tj ET Q q 0 0 0 rg BT 182.80 666.75 Td (to ) Tj ET Q q 0 0 0 rg BT 193.08 666.75 Td (be ) Tj ET Q q 0 0 0 rg BT 205.02 666.75 Td (held ) Tj ET Q q 0 0 0 rg BT 224.73 666.75 Td (May ) Tj ET Q q 0 0 0 rg BT 245.56 666.75 Td (22, ) Tj ET Q q 0 0 0 rg BT 260.56 666.75 Td (2019 ) Tj ET Q q 0 0 0 rg BT 283.06 666.75 Td (\(�Annual ) Tj ET Q q 0 0 0 rg BT 322.77 666.75 Td (Meeting�\), ) Tj ET Q q 0 0 0 rg BT 368.87 666.75 Td (and ) Tj ET Q q 0 0 0 rg BT 385.80 666.75 Td (is ) Tj ET Q q 0 0 0 rg BT 394.97 666.75 Td (incorporated ) Tj ET Q q 0 0 0 rg BT 448.01 666.75 Td (herein ) Tj ET Q q 0 0 0 rg BT 475.49 666.75 Td (by ) Tj ET Q q 0 0 0 rg BT 487.99 666.75 Td (reference.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 642.75 Td (Code ) Tj ET Q q 0 0 0 rg BT 74.22 642.75 Td (of ) Tj ET Q q 0 0 0 rg BT 85.05 642.75 Td (Ethics) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 618.75 Td (W) Tj ET Q q 0 0 0 rg BT 76.14 618.75 Td (e ) Tj ET Q q 0 0 0 rg BT 82.70 618.75 Td (have ) Tj ET Q q 0 0 0 rg BT 103.70 618.75 Td (adopted ) Tj ET Q q 0 0 0 rg BT 137.48 618.75 Td (a ) Tj ET Q q 0 0 0 rg BT 144.05 618.75 Td (Code ) Tj ET Q q 0 0 0 rg BT 167.28 618.75 Td (of ) Tj ET Q q 0 0 0 rg BT 177.74 618.75 Td (Ethics ) Tj ET Q q 0 0 0 rg BT 204.86 618.75 Td (for ) Tj ET Q q 0 0 0 rg BT 218.64 618.75 Td (Senior ) Tj ET Q q 0 0 0 rg BT 246.88 618.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 286.22 618.75 Td (Of) Tj ET Q q 0 0 0 rg BT 296.59 618.75 Td (ficers.��) Tj ET Q q 0 0 0 rg BT 326.11 618.75 Td (This ) Tj ET Q q 0 0 0 rg BT 346.02 618.75 Td (Code ) Tj ET Q q 0 0 0 rg BT 369.25 618.75 Td (of ) Tj ET Q q 0 0 0 rg BT 379.71 618.75 Td (Ethics, ) Tj ET Q q 0 0 0 rg BT 409.33 618.75 Td (including ) Tj ET Q q 0 0 0 rg BT 449.23 618.75 Td (any ) Tj ET Q q 0 0 0 rg BT 465.79 618.75 Td (amendments ) Tj ET Q q 0 0 0 rg BT 518.46 618.75 Td (or ) Tj ET Q q 0 0 0 rg BT 528.91 618.75 Td (waivers, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 606.75 Td (is ) Tj ET Q q 0 0 0 rg BT 58.67 606.75 Td (posted ) Tj ET Q q 0 0 0 rg BT 87.28 606.75 Td (on ) Tj ET Q q 0 0 0 rg BT 99.78 606.75 Td (our ) Tj ET Q q 0 0 0 rg BT 115.61 606.75 Td (website ) Tj ET Q q 0 0 0 rg BT 148.66 606.75 Td (at ) Tj ET Q BT /F1 10.00 Tf ET 0 0 0 RG /GS0 gs 0.49 w 0 i [] 0 d 1 J 1 j 3 M 158.3720703125 605.4169921875 m 236.2236328125 605.4169921875 l s q 0 0 0 rg BT 158.37 606.75 Td (www) Tj ET Q q 0 0 0 rg BT 179.39 606.75 Td (.denbury) Tj ET Q q 0 0 0 rg BT 214.01 606.75 Td (.com.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 581.18505859375 m 192.2685546875 581.18505859375 l s q 0 0 0 rg BT 49.50 582.75 Td (Item 1) Tj ET Q q 0 0 0 rg BT 76.44 582.75 Td (1. Executive Compensation) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 558.75 Td (Information as to Item 1) Tj ET Q q 0 0 0 rg BT 164.33 558.75 Td (1 will be set forth in the Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 359.57 558.75 Td (Annual Meeting and is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 546.75 Td (reference.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 521.18505859375 m 520.37890625 521.18505859375 l s q 0 0 0 rg BT 49.50 522.75 Td (Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder) Tj ET Q q 0 0 0 rg BT 484.01 522.75 Td ( Matters) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 498.75 Td (Information as to Item 12 will be set forth in the Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 359.94 498.75 Td (Annual Meeting and is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 486.75 Td (reference.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 461.18505859375 m 412.380859375 461.18505859375 l s q 0 0 0 rg BT 49.50 462.75 Td (Item 13. Certain Relationships and Related ) Tj ET Q q 0 0 0 rg BT 236.26 462.75 Td (T) Tj ET Q q 0 0 0 rg BT 242.19 462.75 Td (ransactions, and Dir) Tj ET Q q 0 0 0 rg BT 328.96 462.75 Td (ector) Tj ET Q q 0 0 0 rg BT 350.43 462.75 Td ( Independence) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 438.75 Td (Information as to Item 13 will be set forth in the Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 359.94 438.75 Td (Annual Meeting and is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 426.75 Td (reference.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 401.18505859375 m 255.310546875 401.18505859375 l s q 0 0 0 rg BT 49.50 402.75 Td (Item 14. Principal ) Tj ET Q q 0 0 0 rg BT 128.38 402.75 Td (Accountant Fees and Services) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 378.75 Td (Information as to Item 14 will be set forth in the Proxy Statement for the ) Tj ET Q q 0 0 0 rg BT 359.94 378.75 Td (Annual Meeting and is incorporated herein by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 366.75 Td (reference.) Tj ET Q endstream endobj 213 0 obj <> endobj 214 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 30.60 Td (106) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 286.30 726.75 Td (P) Tj ET Q q 0 0 0 rg BT 291.67 726.75 Td (AR) Tj ET Q q 0 0 0 rg BT 305.76 726.75 Td (T) Tj ET Q q 0 0 0 rg BT 312.25 726.75 Td ( IV) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 701.18505859375 m 274.2412109375 701.18505859375 l s q 0 0 0 rg BT 49.50 702.75 Td (Item ) Tj ET Q q 0 0 0 rg BT 71.99 702.75 Td (15. ) Tj ET Q q 0 0 0 rg BT 86.99 702.75 Td (Exhibits ) Tj ET Q q 0 0 0 rg BT 125.06 702.75 Td (and ) Tj ET Q q 0 0 0 rg BT 143.68 702.75 Td (Financial ) Tj ET Q q 0 0 0 rg BT 186.19 702.75 Td (Statement ) Tj ET Q q 0 0 0 rg BT 232.01 702.75 Td (Schedules) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 49.50 629.75 Td (Exhibits.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.57 629.75 Td (��) Tj ET Q q 0 0 0 rg BT 92.39 629.75 Td (The ) Tj ET Q q 0 0 0 rg BT 110.44 629.75 Td (following ) Tj ET Q q 0 0 0 rg BT 151.82 629.75 Td (exhibits ) Tj ET Q q 0 0 0 rg BT 185.99 629.75 Td (are ) Tj ET Q q 0 0 0 rg BT 200.70 629.75 Td (included ) Tj ET Q q 0 0 0 rg BT 237.63 629.75 Td (as ) Tj ET Q q 0 0 0 rg BT 248.46 629.75 Td (part ) Tj ET Q q 0 0 0 rg BT 266.51 629.75 Td (of ) Tj ET Q q 0 0 0 rg BT 277.34 629.75 Td (this ) Tj ET Q q 0 0 0 rg BT 294.29 629.75 Td (report.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 605.25 m 114 605.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 118 605.25 m 562 605.25 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 609.93 Td (Exhibit No.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.50 609.93 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 595.82 Td (2\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 595.82 Td (Agreement ) Tj ET Q q 0 0 0 rg BT 168.03 595.82 Td (and ) Tj ET Q q 0 0 0 rg BT 185.57 595.82 Td (Plan ) Tj ET Q q 0 0 0 rg BT 206.45 595.82 Td (of ) Tj ET Q q 0 0 0 rg BT 217.88 595.82 Td (Mer) Tj ET Q q 0 0 0 rg BT 234.36 595.82 Td (ger ) Tj ET Q q 0 0 0 rg BT 250.23 595.82 Td (among ) Tj ET Q q 0 0 0 rg BT 280.55 595.82 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 318.64 595.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 362.84 595.82 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 383.71 595.82 Td (Penn ) Tj ET Q q 0 0 0 rg BT 406.59 595.82 Td (V) Tj ET Q q 0 0 0 rg BT 413.21 595.82 Td (ir) Tj ET Q q 0 0 0 rg BT 419.14 595.82 Td (ginia ) Tj ET Q q 0 0 0 rg BT 442.23 595.82 Td (Corporation, ) Tj ET Q q 0 0 0 rg BT 496.16 595.82 Td (Dragon ) Tj ET Q q 0 0 0 rg BT 529.25 595.82 Td (Mer) Tj ET Q q 0 0 0 rg BT 545.73 595.82 Td (ger ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 585.82 Td (Sub ) Tj ET Q q 0 0 0 rg BT 138.55 585.82 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 156.31 585.82 Td (and ) Tj ET Q q 0 0 0 rg BT 173.24 585.82 Td (DR ) Tj ET Q q 0 0 0 rg BT 189.62 585.82 Td (Sub ) Tj ET Q q 0 0 0 rg BT 207.67 585.82 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 231.54 585.82 Td (dated ) Tj ET Q q 0 0 0 rg BT 255.69 585.82 Td (as ) Tj ET Q q 0 0 0 rg BT 266.51 585.82 Td (of ) Tj ET Q q 0 0 0 rg BT 277.33 585.82 Td (October ) Tj ET Q q 0 0 0 rg BT 312.02 585.82 Td (28, ) Tj ET Q q 0 0 0 rg BT 327.01 585.82 Td (2018 ) Tj ET Q q 0 0 0 rg BT 349.50 585.82 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 405.85 585.82 Td (by ) Tj ET Q q 0 0 0 rg BT 418.34 585.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 458.01 585.82 Td (to ) Tj ET Q q 0 0 0 rg BT 468.28 585.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 500.21 585.82 Td (2.1 ) Tj ET Q q 0 0 0 rg BT 515.20 585.82 Td (of ) Tj ET Q q 0 0 0 rg BT 526.02 585.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 550.18 585.82 Td (8-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 575.82 Td (K ) Tj ET Q q 0 0 0 rg BT 130.22 575.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 151.05 575.82 Td (by ) Tj ET Q q 0 0 0 rg BT 163.55 575.82 Td (the ) Tj ET Q q 0 0 0 rg BT 178.26 575.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 219.65 575.82 Td (on ) Tj ET Q q 0 0 0 rg BT 232.15 575.82 Td (October ) Tj ET Q q 0 0 0 rg BT 266.86 575.82 Td (29, ) Tj ET Q q 0 0 0 rg BT 281.86 575.82 Td (2018, ) Tj ET Q q 0 0 0 rg BT 306.86 575.82 Td (File ) Tj ET Q q 0 0 0 rg BT 324.91 575.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 342.14 575.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 550.82 Td (3\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 550.82 Td (Second ) Tj ET Q q 0 0 0 rg BT 152.57 550.82 Td (Restated ) Tj ET Q q 0 0 0 rg BT 189.63 550.82 Td (Certificate ) Tj ET Q q 0 0 0 rg BT 234.45 550.82 Td (of ) Tj ET Q q 0 0 0 rg BT 245.41 550.82 Td (Incorporation ) Tj ET Q q 0 0 0 rg BT 302.46 550.82 Td (of ) Tj ET Q q 0 0 0 rg BT 313.42 550.82 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 351.03 550.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 394.76 550.82 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 412.65 550.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 433.61 550.82 Td (with ) Tj ET Q q 0 0 0 rg BT 454.01 550.82 Td (the ) Tj ET Q q 0 0 0 rg BT 468.85 550.82 Td (Delaware ) Tj ET Q q 0 0 0 rg BT 509.79 550.82 Td (Secretary ) Tj ET Q q 0 0 0 rg BT 550.17 550.82 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 540.82 Td (State ) Tj ET Q q 0 0 0 rg BT 143.21 540.82 Td (on ) Tj ET Q q 0 0 0 rg BT 155.93 540.82 Td (October ) Tj ET Q q 0 0 0 rg BT 190.86 540.82 Td (30, ) Tj ET Q q 0 0 0 rg BT 206.08 540.82 Td (2014 ) Tj ET Q q 0 0 0 rg BT 228.80 540.82 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 285.38 540.82 Td (by ) Tj ET Q q 0 0 0 rg BT 298.10 540.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 338.00 540.82 Td (to ) Tj ET Q q 0 0 0 rg BT 348.50 540.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 380.67 540.82 Td (3\(a\) ) Tj ET Q q 0 0 0 rg BT 399.48 540.82 Td (of ) Tj ET Q q 0 0 0 rg BT 410.53 540.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 434.92 540.82 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 458.20 540.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 479.24 540.82 Td (by ) Tj ET Q q 0 0 0 rg BT 491.96 540.82 Td (the ) Tj ET Q q 0 0 0 rg BT 506.90 540.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 548.50 540.82 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 530.82 Td (November ) Tj ET Q q 0 0 0 rg BT 165.21 530.82 Td (7, ) Tj ET Q q 0 0 0 rg BT 175.21 530.82 Td (2014, ) Tj ET Q q 0 0 0 rg BT 200.21 530.82 Td (File ) Tj ET Q q 0 0 0 rg BT 218.26 530.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 235.49 530.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 505.82 Td (3\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 505.82 Td (Second ) Tj ET Q q 0 0 0 rg BT 152.10 505.82 Td (Amended ) Tj ET Q q 0 0 0 rg BT 193.74 505.82 Td (and ) Tj ET Q q 0 0 0 rg BT 210.95 505.82 Td (Restated ) Tj ET Q q 0 0 0 rg BT 248.15 505.82 Td (Bylaws ) Tj ET Q q 0 0 0 rg BT 280.91 505.82 Td (of ) Tj ET Q q 0 0 0 rg BT 292.01 505.82 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 329.77 505.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 373.64 505.82 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 391.67 505.82 Td (as ) Tj ET Q q 0 0 0 rg BT 402.77 505.82 Td (of ) Tj ET Q q 0 0 0 rg BT 413.87 505.82 Td (November ) Tj ET Q q 0 0 0 rg BT 458.84 505.82 Td (4, ) Tj ET Q q 0 0 0 rg BT 469.11 505.82 Td (2014 ) Tj ET Q q 0 0 0 rg BT 491.88 505.82 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 548.51 505.82 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 495.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 160.18 495.82 Td (to ) Tj ET Q q 0 0 0 rg BT 170.46 495.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 202.40 495.82 Td (3\(b\) ) Tj ET Q q 0 0 0 rg BT 221.56 495.82 Td (of ) Tj ET Q q 0 0 0 rg BT 232.39 495.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 256.56 495.82 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 279.62 495.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 300.44 495.82 Td (by ) Tj ET Q q 0 0 0 rg BT 312.94 495.82 Td (the ) Tj ET Q q 0 0 0 rg BT 327.66 495.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 369.04 495.82 Td (on ) Tj ET Q q 0 0 0 rg BT 381.54 495.82 Td (November ) Tj ET Q q 0 0 0 rg BT 426.25 495.82 Td (7, ) Tj ET Q q 0 0 0 rg BT 436.25 495.82 Td (2014, ) Tj ET Q q 0 0 0 rg BT 461.25 495.82 Td (File ) Tj ET Q q 0 0 0 rg BT 479.31 495.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 496.53 495.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 470.82 Td (4\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 470.82 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 160.69 470.82 Td (for ) Tj ET Q q 0 0 0 rg BT 174.22 470.82 Td (6) Tj ET Q /GS0 gs q 7.50 0 0 10.09 179.22 468.66 cm /I31 Do Q q 0 0 0 rg BT 186.72 470.82 Td (% ) Tj ET Q q 0 0 0 rg BT 196.92 470.82 Td (Senior ) Tj ET Q q 0 0 0 rg BT 224.90 470.82 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 280.10 470.82 Td (Notes ) Tj ET Q q 0 0 0 rg BT 305.30 470.82 Td (due ) Tj ET Q q 0 0 0 rg BT 321.61 470.82 Td (2021, ) Tj ET Q q 0 0 0 rg BT 345.98 470.82 Td (dated ) Tj ET Q q 0 0 0 rg BT 369.51 470.82 Td (as ) Tj ET Q q 0 0 0 rg BT 379.71 470.82 Td (of ) Tj ET Q q 0 0 0 rg BT 389.91 470.82 Td (February ) Tj ET Q q 0 0 0 rg BT 427.88 470.82 Td (17, ) Tj ET Q q 0 0 0 rg BT 442.25 470.82 Td (201) Tj ET Q q 0 0 0 rg BT 456.88 470.82 Td (1, ) Tj ET Q q 0 0 0 rg BT 466.25 470.82 Td (by ) Tj ET Q q 0 0 0 rg BT 478.12 470.82 Td (and ) Tj ET Q q 0 0 0 rg BT 494.43 470.82 Td (among ) Tj ET Q q 0 0 0 rg BT 523.52 470.82 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 460.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 163.41 460.82 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 183.00 460.82 Td (certain ) Tj ET Q q 0 0 0 rg BT 212.02 460.82 Td (of ) Tj ET Q q 0 0 0 rg BT 222.16 460.82 Td (its ) Tj ET Q q 0 0 0 rg BT 233.42 460.82 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 284.96 460.82 Td (and ) Tj ET Q q 0 0 0 rg BT 301.08 460.82 Td (W) Tj ET Q q 0 0 0 rg BT 309.72 460.82 Td (ells ) Tj ET Q q 0 0 0 rg BT 325.42 460.82 Td (Far) Tj ET Q q 0 0 0 rg BT 338.57 460.82 Td (go ) Tj ET Q q 0 0 0 rg BT 350.38 460.82 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 375.81 460.82 Td (National ) Tj ET Q q 0 0 0 rg BT 411.66 460.82 Td (Association, ) Tj ET Q q 0 0 0 rg BT 463.19 460.82 Td (as ) Tj ET Q q 0 0 0 rg BT 473.20 460.82 Td (T) Tj ET Q q 0 0 0 rg BT 478.96 460.82 Td (rustee ) Tj ET Q q 0 0 0 rg BT 504.65 460.82 Td (\(incorporated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 450.82 Td (by ) Tj ET Q q 0 0 0 rg BT 133.00 450.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 172.68 450.82 Td (to ) Tj ET Q q 0 0 0 rg BT 182.96 450.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 214.90 450.82 Td (4.1 ) Tj ET Q q 0 0 0 rg BT 229.90 450.82 Td (of ) Tj ET Q q 0 0 0 rg BT 240.73 450.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 264.90 450.82 Td (8-K ) Tj ET Q q 0 0 0 rg BT 282.96 450.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 303.78 450.82 Td (by ) Tj ET Q q 0 0 0 rg BT 316.28 450.82 Td (the ) Tj ET Q q 0 0 0 rg BT 331.00 450.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 372.38 450.82 Td (on ) Tj ET Q q 0 0 0 rg BT 384.88 450.82 Td (February ) Tj ET Q q 0 0 0 rg BT 423.48 450.82 Td (22, ) Tj ET Q q 0 0 0 rg BT 438.48 450.82 Td (201) Tj ET Q q 0 0 0 rg BT 453.11 450.82 Td (1, ) Tj ET Q q 0 0 0 rg BT 463.11 450.82 Td (File ) Tj ET Q q 0 0 0 rg BT 481.17 450.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 498.39 450.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 425.82 Td (4\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 425.82 Td (First ) Tj ET Q q 0 0 0 rg BT 141.49 425.82 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 199.13 425.82 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 240.10 425.82 Td (for ) Tj ET Q q 0 0 0 rg BT 254.41 425.82 Td (6) Tj ET Q /GS0 gs q 7.50 0 0 10.09 259.41 423.66 cm /I32 Do Q q 0 0 0 rg BT 266.91 425.82 Td (% ) Tj ET Q q 0 0 0 rg BT 277.89 425.82 Td (Senior ) Tj ET Q q 0 0 0 rg BT 306.65 425.82 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 362.63 425.82 Td (Notes ) Tj ET Q q 0 0 0 rg BT 388.61 425.82 Td (due ) Tj ET Q q 0 0 0 rg BT 405.70 425.82 Td (2021, ) Tj ET Q q 0 0 0 rg BT 430.85 425.82 Td (dated ) Tj ET Q q 0 0 0 rg BT 455.16 425.82 Td (as ) Tj ET Q q 0 0 0 rg BT 466.14 425.82 Td (of ) Tj ET Q q 0 0 0 rg BT 477.12 425.82 Td (December ) Tj ET Q q 0 0 0 rg BT 520.86 425.82 Td (31, ) Tj ET Q q 0 0 0 rg BT 536.01 425.82 Td (2014, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 415.82 Td (by ) Tj ET Q q 0 0 0 rg BT 132.54 415.82 Td (and ) Tj ET Q q 0 0 0 rg BT 149.01 415.82 Td (among ) Tj ET Q q 0 0 0 rg BT 178.26 415.82 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 215.29 415.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 258.42 415.82 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 278.22 415.82 Td (certain ) Tj ET Q q 0 0 0 rg BT 307.46 415.82 Td (of ) Tj ET Q q 0 0 0 rg BT 317.83 415.82 Td (its ) Tj ET Q q 0 0 0 rg BT 329.31 415.82 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 381.06 415.82 Td (and ) Tj ET Q q 0 0 0 rg BT 397.39 415.82 Td (W) Tj ET Q q 0 0 0 rg BT 406.03 415.82 Td (ells ) Tj ET Q q 0 0 0 rg BT 421.95 415.82 Td (Far) Tj ET Q q 0 0 0 rg BT 435.10 415.82 Td (go ) Tj ET Q q 0 0 0 rg BT 447.13 415.82 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 472.78 415.82 Td (National ) Tj ET Q q 0 0 0 rg BT 508.79 415.82 Td (Association, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 405.82 Td (as ) Tj ET Q q 0 0 0 rg BT 130.59 405.82 Td (T) Tj ET Q q 0 0 0 rg BT 136.35 405.82 Td (rustee ) Tj ET Q q 0 0 0 rg BT 162.12 405.82 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 217.88 405.82 Td (by ) Tj ET Q q 0 0 0 rg BT 229.78 405.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 268.86 405.82 Td (to ) Tj ET Q q 0 0 0 rg BT 278.54 405.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 309.88 405.82 Td (4\(x\) ) Tj ET Q q 0 0 0 rg BT 328.44 405.82 Td (of ) Tj ET Q q 0 0 0 rg BT 338.67 405.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 362.24 405.82 Td (10-K ) Tj ET Q q 0 0 0 rg BT 384.69 405.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 404.91 405.82 Td (by ) Tj ET Q q 0 0 0 rg BT 416.81 405.82 Td (the ) Tj ET Q q 0 0 0 rg BT 430.93 405.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 471.71 405.82 Td (on ) Tj ET Q q 0 0 0 rg BT 483.61 405.82 Td (February ) Tj ET Q q 0 0 0 rg BT 521.61 405.82 Td (27, ) Tj ET Q q 0 0 0 rg BT 536.00 405.82 Td (2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 395.82 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 395.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 395.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 370.82 Td (4\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 370.82 Td (Second ) Tj ET Q q 0 0 0 rg BT 152.07 370.82 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 209.19 370.82 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 249.64 370.82 Td (for ) Tj ET Q q 0 0 0 rg BT 263.44 370.82 Td (6) Tj ET Q /GS0 gs q 7.50 0 0 10.09 268.44 368.66 cm /I33 Do Q q 0 0 0 rg BT 275.94 370.82 Td (% ) Tj ET Q q 0 0 0 rg BT 286.40 370.82 Td (Senior ) Tj ET Q q 0 0 0 rg BT 314.64 370.82 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 370.10 370.82 Td (Notes ) Tj ET Q q 0 0 0 rg BT 395.56 370.82 Td (due ) Tj ET Q q 0 0 0 rg BT 412.13 370.82 Td (2021, ) Tj ET Q q 0 0 0 rg BT 436.76 370.82 Td (dated ) Tj ET Q q 0 0 0 rg BT 460.55 370.82 Td (as ) Tj ET Q q 0 0 0 rg BT 471.02 370.82 Td (of ) Tj ET Q q 0 0 0 rg BT 481.48 370.82 Td (September ) Tj ET Q q 0 0 0 rg BT 526.38 370.82 Td (8, ) Tj ET Q q 0 0 0 rg BT 536.01 370.82 Td (2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 360.82 Td (by ) Tj ET Q q 0 0 0 rg BT 132.55 360.82 Td (and ) Tj ET Q q 0 0 0 rg BT 149.05 360.82 Td (among ) Tj ET Q q 0 0 0 rg BT 178.32 360.82 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 215.36 360.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 258.52 360.82 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 278.34 360.82 Td (certain ) Tj ET Q q 0 0 0 rg BT 307.60 360.82 Td (of ) Tj ET Q q 0 0 0 rg BT 317.98 360.82 Td (its ) Tj ET Q q 0 0 0 rg BT 329.49 360.82 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 381.26 360.82 Td (and ) Tj ET Q q 0 0 0 rg BT 397.60 360.82 Td (W) Tj ET Q q 0 0 0 rg BT 406.64 360.82 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 447.44 360.82 Td (T) Tj ET Q q 0 0 0 rg BT 453.19 360.82 Td (rust, ) Tj ET Q q 0 0 0 rg BT 472.75 360.82 Td (National ) Tj ET Q q 0 0 0 rg BT 508.78 360.82 Td (Association, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 350.82 Td (as ) Tj ET Q q 0 0 0 rg BT 130.56 350.82 Td (T) Tj ET Q q 0 0 0 rg BT 136.32 350.82 Td (rustee ) Tj ET Q q 0 0 0 rg BT 162.06 350.82 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 217.79 350.82 Td (by ) Tj ET Q q 0 0 0 rg BT 229.66 350.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 268.71 350.82 Td (to ) Tj ET Q q 0 0 0 rg BT 278.36 350.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 309.67 350.82 Td (4\(a\) ) Tj ET Q q 0 0 0 rg BT 327.64 350.82 Td (of ) Tj ET Q q 0 0 0 rg BT 337.83 350.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 361.37 350.82 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 383.79 350.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 403.98 350.82 Td (by ) Tj ET Q q 0 0 0 rg BT 415.85 350.82 Td (the ) Tj ET Q q 0 0 0 rg BT 429.94 350.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 470.69 350.82 Td (on ) Tj ET Q q 0 0 0 rg BT 482.56 350.82 Td (November ) Tj ET Q q 0 0 0 rg BT 526.63 350.82 Td (7, ) Tj ET Q q 0 0 0 rg BT 536.00 350.82 Td (2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 340.82 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 340.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 340.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 315.82 Td (4\(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 315.82 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 160.96 315.82 Td (for ) Tj ET Q q 0 0 0 rg BT 174.76 315.82 Td (4) Tj ET Q /GS0 gs q 7.50 0 0 10.09 179.76 313.66 cm /I34 Do Q q 0 0 0 rg BT 187.26 315.82 Td (% ) Tj ET Q q 0 0 0 rg BT 197.74 315.82 Td (Senior ) Tj ET Q q 0 0 0 rg BT 225.99 315.82 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 281.46 315.82 Td (Notes ) Tj ET Q q 0 0 0 rg BT 306.93 315.82 Td (due ) Tj ET Q q 0 0 0 rg BT 323.51 315.82 Td (2023, ) Tj ET Q q 0 0 0 rg BT 348.16 315.82 Td (dated ) Tj ET Q q 0 0 0 rg BT 371.96 315.82 Td (as ) Tj ET Q q 0 0 0 rg BT 382.43 315.82 Td (of ) Tj ET Q q 0 0 0 rg BT 392.90 315.82 Td (February ) Tj ET Q q 0 0 0 rg BT 431.14 315.82 Td (5, ) Tj ET Q q 0 0 0 rg BT 440.79 315.82 Td (2013, ) Tj ET Q q 0 0 0 rg BT 465.43 315.82 Td (by ) Tj ET Q q 0 0 0 rg BT 477.58 315.82 Td (and ) Tj ET Q q 0 0 0 rg BT 494.16 315.82 Td (among ) Tj ET Q q 0 0 0 rg BT 523.52 315.82 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 305.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 163.41 305.82 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 183.00 305.82 Td (certain ) Tj ET Q q 0 0 0 rg BT 212.02 305.82 Td (of ) Tj ET Q q 0 0 0 rg BT 222.16 305.82 Td (its ) Tj ET Q q 0 0 0 rg BT 233.42 305.82 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 284.96 305.82 Td (and ) Tj ET Q q 0 0 0 rg BT 301.08 305.82 Td (W) Tj ET Q q 0 0 0 rg BT 309.72 305.82 Td (ells ) Tj ET Q q 0 0 0 rg BT 325.42 305.82 Td (Far) Tj ET Q q 0 0 0 rg BT 338.57 305.82 Td (go ) Tj ET Q q 0 0 0 rg BT 350.38 305.82 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 375.81 305.82 Td (National ) Tj ET Q q 0 0 0 rg BT 411.66 305.82 Td (Association, ) Tj ET Q q 0 0 0 rg BT 463.19 305.82 Td (as ) Tj ET Q q 0 0 0 rg BT 473.20 305.82 Td (T) Tj ET Q q 0 0 0 rg BT 478.96 305.82 Td (rustee ) Tj ET Q q 0 0 0 rg BT 504.65 305.82 Td (\(incorporated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 295.82 Td (by ) Tj ET Q q 0 0 0 rg BT 133.00 295.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 172.68 295.82 Td (to ) Tj ET Q q 0 0 0 rg BT 182.96 295.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 214.90 295.82 Td (4.1 ) Tj ET Q q 0 0 0 rg BT 229.90 295.82 Td (of ) Tj ET Q q 0 0 0 rg BT 240.73 295.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 264.90 295.82 Td (8-K ) Tj ET Q q 0 0 0 rg BT 282.96 295.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 303.78 295.82 Td (by ) Tj ET Q q 0 0 0 rg BT 316.28 295.82 Td (the ) Tj ET Q q 0 0 0 rg BT 331.00 295.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 372.38 295.82 Td (on ) Tj ET Q q 0 0 0 rg BT 384.88 295.82 Td (February ) Tj ET Q q 0 0 0 rg BT 423.48 295.82 Td (5, ) Tj ET Q q 0 0 0 rg BT 433.48 295.82 Td (2013, ) Tj ET Q q 0 0 0 rg BT 458.48 295.82 Td (File ) Tj ET Q q 0 0 0 rg BT 476.54 295.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 493.76 295.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 270.82 Td (4\(e\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 270.82 Td (First ) Tj ET Q q 0 0 0 rg BT 141.49 270.82 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 199.13 270.82 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 240.10 270.82 Td (for ) Tj ET Q q 0 0 0 rg BT 254.41 270.82 Td (4) Tj ET Q /GS0 gs q 7.50 0 0 10.09 259.41 268.66 cm /I35 Do Q q 0 0 0 rg BT 266.91 270.82 Td (% ) Tj ET Q q 0 0 0 rg BT 277.89 270.82 Td (Senior ) Tj ET Q q 0 0 0 rg BT 306.65 270.82 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 362.63 270.82 Td (Notes ) Tj ET Q q 0 0 0 rg BT 388.61 270.82 Td (due ) Tj ET Q q 0 0 0 rg BT 405.70 270.82 Td (2023, ) Tj ET Q q 0 0 0 rg BT 430.85 270.82 Td (dated ) Tj ET Q q 0 0 0 rg BT 455.16 270.82 Td (as ) Tj ET Q q 0 0 0 rg BT 466.14 270.82 Td (of ) Tj ET Q q 0 0 0 rg BT 477.12 270.82 Td (December ) Tj ET Q q 0 0 0 rg BT 520.86 270.82 Td (31, ) Tj ET Q q 0 0 0 rg BT 536.01 270.82 Td (2014, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 260.82 Td (by ) Tj ET Q q 0 0 0 rg BT 132.54 260.82 Td (and ) Tj ET Q q 0 0 0 rg BT 149.01 260.82 Td (among ) Tj ET Q q 0 0 0 rg BT 178.26 260.82 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 215.29 260.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 258.42 260.82 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 278.22 260.82 Td (certain ) Tj ET Q q 0 0 0 rg BT 307.46 260.82 Td (of ) Tj ET Q q 0 0 0 rg BT 317.83 260.82 Td (its ) Tj ET Q q 0 0 0 rg BT 329.31 260.82 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 381.06 260.82 Td (and ) Tj ET Q q 0 0 0 rg BT 397.39 260.82 Td (W) Tj ET Q q 0 0 0 rg BT 406.03 260.82 Td (ells ) Tj ET Q q 0 0 0 rg BT 421.95 260.82 Td (Far) Tj ET Q q 0 0 0 rg BT 435.10 260.82 Td (go ) Tj ET Q q 0 0 0 rg BT 447.13 260.82 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 472.78 260.82 Td (National ) Tj ET Q q 0 0 0 rg BT 508.79 260.82 Td (Association, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 250.82 Td (as ) Tj ET Q q 0 0 0 rg BT 130.62 250.82 Td (T) Tj ET Q q 0 0 0 rg BT 136.38 250.82 Td (rustee ) Tj ET Q q 0 0 0 rg BT 162.18 250.82 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 217.98 250.82 Td (by ) Tj ET Q q 0 0 0 rg BT 229.91 250.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 269.02 250.82 Td (to ) Tj ET Q q 0 0 0 rg BT 278.73 250.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 310.10 250.82 Td (4\(z\) ) Tj ET Q q 0 0 0 rg BT 328.13 250.82 Td (of ) Tj ET Q q 0 0 0 rg BT 338.39 250.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 361.99 250.82 Td (10-K ) Tj ET Q q 0 0 0 rg BT 384.47 250.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 404.73 250.82 Td (by ) Tj ET Q q 0 0 0 rg BT 416.66 250.82 Td (the ) Tj ET Q q 0 0 0 rg BT 430.81 250.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 471.62 250.82 Td (on ) Tj ET Q q 0 0 0 rg BT 483.55 250.82 Td (February ) Tj ET Q q 0 0 0 rg BT 521.58 250.82 Td (27, ) Tj ET Q q 0 0 0 rg BT 536.01 250.82 Td (2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 240.82 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 240.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 240.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 215.82 Td (4\(f\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 215.82 Td (Second ) Tj ET Q q 0 0 0 rg BT 152.07 215.82 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 209.19 215.82 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 249.64 215.82 Td (for ) Tj ET Q q 0 0 0 rg BT 263.44 215.82 Td (4) Tj ET Q /GS0 gs q 7.50 0 0 10.09 268.44 213.66 cm /I36 Do Q q 0 0 0 rg BT 275.94 215.82 Td (% ) Tj ET Q q 0 0 0 rg BT 286.40 215.82 Td (Senior ) Tj ET Q q 0 0 0 rg BT 314.64 215.82 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 370.10 215.82 Td (Notes ) Tj ET Q q 0 0 0 rg BT 395.56 215.82 Td (due ) Tj ET Q q 0 0 0 rg BT 412.13 215.82 Td (2023, ) Tj ET Q q 0 0 0 rg BT 436.76 215.82 Td (dated ) Tj ET Q q 0 0 0 rg BT 460.55 215.82 Td (as ) Tj ET Q q 0 0 0 rg BT 471.02 215.82 Td (of ) Tj ET Q q 0 0 0 rg BT 481.48 215.82 Td (September ) Tj ET Q q 0 0 0 rg BT 526.38 215.82 Td (8, ) Tj ET Q q 0 0 0 rg BT 536.01 215.82 Td (2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 205.82 Td (by ) Tj ET Q q 0 0 0 rg BT 132.55 205.82 Td (and ) Tj ET Q q 0 0 0 rg BT 149.05 205.82 Td (among ) Tj ET Q q 0 0 0 rg BT 178.32 205.82 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 215.36 205.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 258.52 205.82 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 278.34 205.82 Td (certain ) Tj ET Q q 0 0 0 rg BT 307.60 205.82 Td (of ) Tj ET Q q 0 0 0 rg BT 317.98 205.82 Td (its ) Tj ET Q q 0 0 0 rg BT 329.49 205.82 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 381.26 205.82 Td (and ) Tj ET Q q 0 0 0 rg BT 397.60 205.82 Td (W) Tj ET Q q 0 0 0 rg BT 406.64 205.82 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 447.44 205.82 Td (T) Tj ET Q q 0 0 0 rg BT 453.19 205.82 Td (rust, ) Tj ET Q q 0 0 0 rg BT 472.75 205.82 Td (National ) Tj ET Q q 0 0 0 rg BT 508.78 205.82 Td (Association, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 195.82 Td (as ) Tj ET Q q 0 0 0 rg BT 130.53 195.82 Td (T) Tj ET Q q 0 0 0 rg BT 136.29 195.82 Td (rustee ) Tj ET Q q 0 0 0 rg BT 162.01 195.82 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 217.71 195.82 Td (by ) Tj ET Q q 0 0 0 rg BT 229.54 195.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 268.56 195.82 Td (to ) Tj ET Q q 0 0 0 rg BT 278.18 195.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 309.46 195.82 Td (4\(b\) ) Tj ET Q q 0 0 0 rg BT 327.96 195.82 Td (of ) Tj ET Q q 0 0 0 rg BT 338.12 195.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 361.63 195.82 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 384.02 195.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 404.18 195.82 Td (by ) Tj ET Q q 0 0 0 rg BT 416.02 195.82 Td (the ) Tj ET Q q 0 0 0 rg BT 430.08 195.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 470.80 195.82 Td (on ) Tj ET Q q 0 0 0 rg BT 482.64 195.82 Td (November ) Tj ET Q q 0 0 0 rg BT 526.68 195.82 Td (7, ) Tj ET Q q 0 0 0 rg BT 536.02 195.82 Td (2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 185.82 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 185.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 185.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 160.82 Td (4\(g\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 160.82 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 161.58 160.82 Td (for ) Tj ET Q q 0 0 0 rg BT 176.01 160.82 Td (5�% ) Tj ET Q q 0 0 0 rg BT 199.61 160.82 Td (Senior ) Tj ET Q q 0 0 0 rg BT 228.48 160.82 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 284.58 160.82 Td (Notes ) Tj ET Q q 0 0 0 rg BT 310.67 160.82 Td (due ) Tj ET Q q 0 0 0 rg BT 327.88 160.82 Td (2022, ) Tj ET Q q 0 0 0 rg BT 353.15 160.82 Td (dated ) Tj ET Q q 0 0 0 rg BT 377.57 160.82 Td (as ) Tj ET Q q 0 0 0 rg BT 388.67 160.82 Td (of ) Tj ET Q q 0 0 0 rg BT 399.16 160.82 Td (April ) Tj ET Q q 0 0 0 rg BT 423.03 160.82 Td (30, ) Tj ET Q q 0 0 0 rg BT 438.30 160.82 Td (2014, ) Tj ET Q q 0 0 0 rg BT 463.57 160.82 Td (by ) Tj ET Q q 0 0 0 rg BT 476.33 160.82 Td (and ) Tj ET Q q 0 0 0 rg BT 493.54 160.82 Td (among ) Tj ET Q q 0 0 0 rg BT 523.52 160.82 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 150.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 163.41 150.82 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 183.00 150.82 Td (certain ) Tj ET Q q 0 0 0 rg BT 212.02 150.82 Td (of ) Tj ET Q q 0 0 0 rg BT 222.16 150.82 Td (its ) Tj ET Q q 0 0 0 rg BT 233.42 150.82 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 284.96 150.82 Td (and ) Tj ET Q q 0 0 0 rg BT 301.08 150.82 Td (W) Tj ET Q q 0 0 0 rg BT 309.72 150.82 Td (ells ) Tj ET Q q 0 0 0 rg BT 325.42 150.82 Td (Far) Tj ET Q q 0 0 0 rg BT 338.57 150.82 Td (go ) Tj ET Q q 0 0 0 rg BT 350.38 150.82 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 375.81 150.82 Td (National ) Tj ET Q q 0 0 0 rg BT 411.66 150.82 Td (Association, ) Tj ET Q q 0 0 0 rg BT 463.19 150.82 Td (as ) Tj ET Q q 0 0 0 rg BT 473.20 150.82 Td (T) Tj ET Q q 0 0 0 rg BT 478.96 150.82 Td (rustee ) Tj ET Q q 0 0 0 rg BT 504.65 150.82 Td (\(incorporated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 140.82 Td (by ) Tj ET Q q 0 0 0 rg BT 133.00 140.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 172.68 140.82 Td (to ) Tj ET Q q 0 0 0 rg BT 182.96 140.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 214.90 140.82 Td (4.1 ) Tj ET Q q 0 0 0 rg BT 229.90 140.82 Td (of ) Tj ET Q q 0 0 0 rg BT 240.73 140.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 264.90 140.82 Td (8-K ) Tj ET Q q 0 0 0 rg BT 282.96 140.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 303.78 140.82 Td (by ) Tj ET Q q 0 0 0 rg BT 316.28 140.82 Td (the ) Tj ET Q q 0 0 0 rg BT 331.00 140.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 372.38 140.82 Td (on ) Tj ET Q q 0 0 0 rg BT 384.88 140.82 Td (May ) Tj ET Q q 0 0 0 rg BT 405.71 140.82 Td (1, ) Tj ET Q q 0 0 0 rg BT 415.71 140.82 Td (2014, ) Tj ET Q q 0 0 0 rg BT 440.71 140.82 Td (File ) Tj ET Q q 0 0 0 rg BT 458.77 140.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 475.99 140.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 115.82 Td (4\(h\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 115.82 Td (First ) Tj ET Q q 0 0 0 rg BT 141.49 115.82 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 199.13 115.82 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 240.10 115.82 Td (for ) Tj ET Q q 0 0 0 rg BT 254.41 115.82 Td (5�% ) Tj ET Q q 0 0 0 rg BT 277.89 115.82 Td (Senior ) Tj ET Q q 0 0 0 rg BT 306.65 115.82 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 362.63 115.82 Td (Notes ) Tj ET Q q 0 0 0 rg BT 388.61 115.82 Td (due ) Tj ET Q q 0 0 0 rg BT 405.70 115.82 Td (2022, ) Tj ET Q q 0 0 0 rg BT 430.85 115.82 Td (dated ) Tj ET Q q 0 0 0 rg BT 455.16 115.82 Td (as ) Tj ET Q q 0 0 0 rg BT 466.14 115.82 Td (of ) Tj ET Q q 0 0 0 rg BT 477.12 115.82 Td (December ) Tj ET Q q 0 0 0 rg BT 520.86 115.82 Td (31, ) Tj ET Q q 0 0 0 rg BT 536.01 115.82 Td (2014, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 105.82 Td (by ) Tj ET Q q 0 0 0 rg BT 132.54 105.82 Td (and ) Tj ET Q q 0 0 0 rg BT 149.01 105.82 Td (among ) Tj ET Q q 0 0 0 rg BT 178.26 105.82 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 215.29 105.82 Td (Resources ) Tj ET Q q 0 0 0 rg BT 258.42 105.82 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 278.22 105.82 Td (certain ) Tj ET Q q 0 0 0 rg BT 307.46 105.82 Td (of ) Tj ET Q q 0 0 0 rg BT 317.83 105.82 Td (its ) Tj ET Q q 0 0 0 rg BT 329.31 105.82 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 381.06 105.82 Td (and ) Tj ET Q q 0 0 0 rg BT 397.39 105.82 Td (W) Tj ET Q q 0 0 0 rg BT 406.03 105.82 Td (ells ) Tj ET Q q 0 0 0 rg BT 421.95 105.82 Td (Far) Tj ET Q q 0 0 0 rg BT 435.10 105.82 Td (go ) Tj ET Q q 0 0 0 rg BT 447.13 105.82 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 472.78 105.82 Td (National ) Tj ET Q q 0 0 0 rg BT 508.79 105.82 Td (Association, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 95.82 Td (as ) Tj ET Q q 0 0 0 rg BT 131.65 95.82 Td (T) Tj ET Q q 0 0 0 rg BT 137.41 95.82 Td (rustee ) Tj ET Q q 0 0 0 rg BT 164.33 95.82 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 221.24 95.82 Td (by ) Tj ET Q q 0 0 0 rg BT 234.28 95.82 Td (reference ) Tj ET Q q 0 0 0 rg BT 274.51 95.82 Td (to ) Tj ET Q q 0 0 0 rg BT 285.33 95.82 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 317.82 95.82 Td (4\(bb\) ) Tj ET Q q 0 0 0 rg BT 342.53 95.82 Td (of ) Tj ET Q q 0 0 0 rg BT 353.90 95.82 Td (Form ) Tj ET Q q 0 0 0 rg BT 378.61 95.82 Td (10-K ) Tj ET Q q 0 0 0 rg BT 402.21 95.82 Td (filed ) Tj ET Q q 0 0 0 rg BT 423.58 95.82 Td (by ) Tj ET Q q 0 0 0 rg BT 436.63 95.82 Td (the ) Tj ET Q q 0 0 0 rg BT 451.89 95.82 Td (Company ) Tj ET Q q 0 0 0 rg BT 493.82 95.82 Td (on ) Tj ET Q q 0 0 0 rg BT 506.86 95.82 Td (February ) Tj ET Q q 0 0 0 rg BT 546.00 95.82 Td (27, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 85.82 Td (2015, ) Tj ET Q q 0 0 0 rg BT 145.50 85.82 Td (File ) Tj ET Q q 0 0 0 rg BT 163.56 85.82 Td (No. ) Tj ET Q q 0 0 0 rg BT 180.78 85.82 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 52.50 682.08 Td (Financial ) Tj ET Q q 0 0 0 rg BT 95.36 682.08 Td (Statements ) Tj ET Q q 0 0 0 rg BT 145.42 682.08 Td (and ) Tj ET Q q 0 0 0 rg BT 164.40 682.08 Td (Schedules.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 209.13 682.08 Td (��Financial ) Tj ET Q q 0 0 0 rg BT 254.20 682.08 Td (statements ) Tj ET Q q 0 0 0 rg BT 299.26 682.08 Td (and ) Tj ET Q q 0 0 0 rg BT 316.55 682.08 Td (schedules ) Tj ET Q q 0 0 0 rg BT 358.28 682.08 Td (filed ) Tj ET Q q 0 0 0 rg BT 379.46 682.08 Td (as ) Tj ET Q q 0 0 0 rg BT 390.64 682.08 Td (a ) Tj ET Q q 0 0 0 rg BT 397.93 682.08 Td (part ) Tj ET Q q 0 0 0 rg BT 416.33 682.08 Td (of ) Tj ET Q q 0 0 0 rg BT 427.52 682.08 Td (this ) Tj ET Q q 0 0 0 rg BT 444.82 682.08 Td (report ) Tj ET Q q 0 0 0 rg BT 471.55 682.08 Td (are ) Tj ET Q q 0 0 0 rg BT 486.61 682.08 Td (presented ) Tj ET Q q 0 0 0 rg BT 527.78 682.08 Td (on ) Tj ET Q q 0 0 0 rg BT 540.63 682.08 Td (page ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 669.92 Td (63) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 62.50 669.92 Td (.��) Tj ET Q q 0 0 0 rg BT 69.45 669.92 Td (All ) Tj ET Q q 0 0 0 rg BT 84.19 669.92 Td (financial ) Tj ET Q q 0 0 0 rg BT 121.13 669.92 Td (statement ) Tj ET Q q 0 0 0 rg BT 161.41 669.92 Td (schedules ) Tj ET Q q 0 0 0 rg BT 202.24 669.92 Td (have ) Tj ET Q q 0 0 0 rg BT 223.08 669.92 Td (been ) Tj ET Q q 0 0 0 rg BT 243.92 669.92 Td (omitted ) Tj ET Q q 0 0 0 rg BT 276.43 669.92 Td (because ) Tj ET Q q 0 0 0 rg BT 310.03 669.92 Td (they ) Tj ET Q q 0 0 0 rg BT 329.21 669.92 Td (are ) Tj ET Q q 0 0 0 rg BT 343.37 669.92 Td (not ) Tj ET Q q 0 0 0 rg BT 358.11 669.92 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 403.66 669.92 Td (or ) Tj ET Q q 0 0 0 rg BT 413.95 669.92 Td (the ) Tj ET Q q 0 0 0 rg BT 428.13 669.92 Td (required ) Tj ET Q q 0 0 0 rg BT 463.40 669.92 Td (information ) Tj ET Q q 0 0 0 rg BT 512.57 669.92 Td (is ) Tj ET Q q 0 0 0 rg BT 521.20 669.92 Td (presented ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 657.92 Td (in ) Tj ET Q q 0 0 0 rg BT 62.78 657.92 Td (the ) Tj ET Q q 0 0 0 rg BT 77.50 657.92 Td (financial ) Tj ET Q q 0 0 0 rg BT 114.98 657.92 Td (statements ) Tj ET Q q 0 0 0 rg BT 159.69 657.92 Td (or ) Tj ET Q q 0 0 0 rg BT 170.52 657.92 Td (the ) Tj ET Q q 0 0 0 rg BT 185.23 657.92 Td (notes ) Tj ET Q q 0 0 0 rg BT 208.84 657.92 Td (to ) Tj ET Q q 0 0 0 rg BT 219.12 657.92 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 272.16 657.92 Td (financial ) Tj ET Q q 0 0 0 rg BT 309.64 657.92 Td (statements.) Tj ET Q endstream endobj 215 0 obj <> endobj 216 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 30.60 Td (107) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 719 m 114 719 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 118 719 m 562 719 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 723.68 Td (Exhibit No.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.50 723.68 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 709.57 Td (4\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 709.57 Td (Second ) Tj ET Q q 0 0 0 rg BT 152.07 709.57 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 209.19 709.57 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 249.64 709.57 Td (for ) Tj ET Q q 0 0 0 rg BT 263.44 709.57 Td (5�% ) Tj ET Q q 0 0 0 rg BT 286.40 709.57 Td (Senior ) Tj ET Q q 0 0 0 rg BT 314.64 709.57 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 370.10 709.57 Td (Notes ) Tj ET Q q 0 0 0 rg BT 395.56 709.57 Td (due ) Tj ET Q q 0 0 0 rg BT 412.13 709.57 Td (2022, ) Tj ET Q q 0 0 0 rg BT 436.76 709.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 460.55 709.57 Td (as ) Tj ET Q q 0 0 0 rg BT 471.02 709.57 Td (of ) Tj ET Q q 0 0 0 rg BT 481.48 709.57 Td (September ) Tj ET Q q 0 0 0 rg BT 526.38 709.57 Td (8, ) Tj ET Q q 0 0 0 rg BT 536.01 709.57 Td (2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 699.57 Td (by ) Tj ET Q q 0 0 0 rg BT 132.55 699.57 Td (and ) Tj ET Q q 0 0 0 rg BT 149.05 699.57 Td (among ) Tj ET Q q 0 0 0 rg BT 178.32 699.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 215.36 699.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 258.52 699.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 278.34 699.57 Td (certain ) Tj ET Q q 0 0 0 rg BT 307.60 699.57 Td (of ) Tj ET Q q 0 0 0 rg BT 317.98 699.57 Td (its ) Tj ET Q q 0 0 0 rg BT 329.49 699.57 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 381.26 699.57 Td (and ) Tj ET Q q 0 0 0 rg BT 397.60 699.57 Td (W) Tj ET Q q 0 0 0 rg BT 406.64 699.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 447.44 699.57 Td (T) Tj ET Q q 0 0 0 rg BT 453.19 699.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 472.75 699.57 Td (National ) Tj ET Q q 0 0 0 rg BT 508.78 699.57 Td (Association, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 689.57 Td (as ) Tj ET Q q 0 0 0 rg BT 130.56 689.57 Td (T) Tj ET Q q 0 0 0 rg BT 136.32 689.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 162.06 689.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 217.79 689.57 Td (by ) Tj ET Q q 0 0 0 rg BT 229.66 689.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 268.71 689.57 Td (to ) Tj ET Q q 0 0 0 rg BT 278.36 689.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 309.67 689.57 Td (4\(c\) ) Tj ET Q q 0 0 0 rg BT 327.64 689.57 Td (of ) Tj ET Q q 0 0 0 rg BT 337.83 689.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 361.37 689.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 383.79 689.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 403.98 689.57 Td (by ) Tj ET Q q 0 0 0 rg BT 415.85 689.57 Td (the ) Tj ET Q q 0 0 0 rg BT 429.94 689.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 470.69 689.57 Td (on ) Tj ET Q q 0 0 0 rg BT 482.56 689.57 Td (November ) Tj ET Q q 0 0 0 rg BT 526.63 689.57 Td (7, ) Tj ET Q q 0 0 0 rg BT 536.00 689.57 Td (2017, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 679.57 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 679.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 679.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 654.57 Td (4\(j\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 654.57 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 160.40 654.57 Td (for ) Tj ET Q q 0 0 0 rg BT 173.64 654.57 Td (9% ) Tj ET Q q 0 0 0 rg BT 188.55 654.57 Td (Senior ) Tj ET Q q 0 0 0 rg BT 216.24 654.57 Td (Secured ) Tj ET Q q 0 0 0 rg BT 250.03 654.57 Td (Second ) Tj ET Q q 0 0 0 rg BT 281.05 654.57 Td (Lien ) Tj ET Q q 0 0 0 rg BT 300.96 654.57 Td (Notes ) Tj ET Q q 0 0 0 rg BT 325.87 654.57 Td (due ) Tj ET Q q 0 0 0 rg BT 341.89 654.57 Td (2021, ) Tj ET Q q 0 0 0 rg BT 365.97 654.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 389.21 654.57 Td (as ) Tj ET Q q 0 0 0 rg BT 399.12 654.57 Td (of ) Tj ET Q q 0 0 0 rg BT 409.04 654.57 Td (May ) Tj ET Q q 0 0 0 rg BT 428.95 654.57 Td (10, ) Tj ET Q q 0 0 0 rg BT 443.03 654.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 467.11 654.57 Td (by ) Tj ET Q q 0 0 0 rg BT 478.69 654.57 Td (and ) Tj ET Q q 0 0 0 rg BT 494.71 654.57 Td (among ) Tj ET Q q 0 0 0 rg BT 523.51 654.57 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 644.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 163.28 644.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 182.73 644.57 Td (certain ) Tj ET Q q 0 0 0 rg BT 211.62 644.57 Td (of ) Tj ET Q q 0 0 0 rg BT 221.63 644.57 Td (its ) Tj ET Q q 0 0 0 rg BT 232.77 644.57 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 284.17 644.57 Td (and ) Tj ET Q q 0 0 0 rg BT 300.17 644.57 Td (W) Tj ET Q q 0 0 0 rg BT 309.20 644.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 349.66 644.57 Td (T) Tj ET Q q 0 0 0 rg BT 355.41 644.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 374.60 644.57 Td (National ) Tj ET Q q 0 0 0 rg BT 410.34 644.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 461.74 644.57 Td (as ) Tj ET Q q 0 0 0 rg BT 471.64 644.57 Td (T) Tj ET Q q 0 0 0 rg BT 477.39 644.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 502.95 644.57 Td (and ) Tj ET Q q 0 0 0 rg BT 519.07 644.57 Td (Collateral ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 634.57 Td (T) Tj ET Q q 0 0 0 rg BT 126.26 634.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 152.21 634.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 208.14 634.57 Td (by ) Tj ET Q q 0 0 0 rg BT 220.21 634.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 259.47 634.57 Td (to ) Tj ET Q q 0 0 0 rg BT 269.32 634.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 300.84 634.57 Td (4.1 ) Tj ET Q q 0 0 0 rg BT 315.41 634.57 Td (of ) Tj ET Q q 0 0 0 rg BT 325.81 634.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 349.56 634.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 367.18 634.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 387.58 634.57 Td (by ) Tj ET Q q 0 0 0 rg BT 399.65 634.57 Td (the ) Tj ET Q q 0 0 0 rg BT 413.94 634.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 454.90 634.57 Td (on ) Tj ET Q q 0 0 0 rg BT 466.97 634.57 Td (May ) Tj ET Q q 0 0 0 rg BT 487.38 634.57 Td (1) Tj ET Q q 0 0 0 rg BT 492.00 634.57 Td (1, ) Tj ET Q q 0 0 0 rg BT 501.58 634.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 526.15 634.57 Td (File ) Tj ET Q q 0 0 0 rg BT 543.78 634.57 Td (No. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 624.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 599.57 Td (4\(k\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 599.57 Td (First ) Tj ET Q q 0 0 0 rg BT 141.38 599.57 Td (Supplemental ) Tj ET Q q 0 0 0 rg BT 198.90 599.57 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 239.76 599.57 Td (for ) Tj ET Q q 0 0 0 rg BT 253.95 599.57 Td (9% ) Tj ET Q q 0 0 0 rg BT 269.82 599.57 Td (Senior ) Tj ET Q q 0 0 0 rg BT 298.46 599.57 Td (Subordinated ) Tj ET Q q 0 0 0 rg BT 354.33 599.57 Td (Notes ) Tj ET Q q 0 0 0 rg BT 380.19 599.57 Td (due ) Tj ET Q q 0 0 0 rg BT 397.17 599.57 Td (2021, ) Tj ET Q q 0 0 0 rg BT 422.20 599.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 446.40 599.57 Td (as ) Tj ET Q q 0 0 0 rg BT 457.26 599.57 Td (of ) Tj ET Q q 0 0 0 rg BT 468.13 599.57 Td (September ) Tj ET Q q 0 0 0 rg BT 513.43 599.57 Td (8, ) Tj ET Q q 0 0 0 rg BT 523.47 599.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 548.50 599.57 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 589.57 Td (and ) Tj ET Q q 0 0 0 rg BT 137.12 589.57 Td (among ) Tj ET Q q 0 0 0 rg BT 166.51 589.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 203.68 589.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 246.96 589.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 266.90 589.57 Td (certain ) Tj ET Q q 0 0 0 rg BT 296.28 589.57 Td (of ) Tj ET Q q 0 0 0 rg BT 306.79 589.57 Td (its ) Tj ET Q q 0 0 0 rg BT 318.42 589.57 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 370.31 589.57 Td (and ) Tj ET Q q 0 0 0 rg BT 386.77 589.57 Td (W) Tj ET Q q 0 0 0 rg BT 395.81 589.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 436.72 589.57 Td (T) Tj ET Q q 0 0 0 rg BT 442.48 589.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 462.15 589.57 Td (National ) Tj ET Q q 0 0 0 rg BT 498.28 589.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 550.18 589.57 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 579.57 Td (T) Tj ET Q q 0 0 0 rg BT 126.26 579.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 152.64 579.57 Td (and ) Tj ET Q q 0 0 0 rg BT 169.59 579.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 211.35 579.57 Td (T) Tj ET Q q 0 0 0 rg BT 217.10 579.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 243.49 579.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 299.86 579.57 Td (by ) Tj ET Q q 0 0 0 rg BT 312.37 579.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 352.06 579.57 Td (to ) Tj ET Q q 0 0 0 rg BT 362.35 579.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 394.30 579.57 Td (4\(d\) ) Tj ET Q q 0 0 0 rg BT 413.47 579.57 Td (of ) Tj ET Q q 0 0 0 rg BT 424.31 579.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 448.49 579.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 471.55 579.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 492.38 579.57 Td (by ) Tj ET Q q 0 0 0 rg BT 504.89 579.57 Td (the ) Tj ET Q q 0 0 0 rg BT 519.61 579.57 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 569.57 Td (on ) Tj ET Q q 0 0 0 rg BT 133.00 569.57 Td (November ) Tj ET Q q 0 0 0 rg BT 177.71 569.57 Td (7, ) Tj ET Q q 0 0 0 rg BT 187.71 569.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 212.71 569.57 Td (File ) Tj ET Q q 0 0 0 rg BT 230.76 569.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 247.99 569.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 544.57 Td (4\(l\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 544.57 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 161.03 544.57 Td (for ) Tj ET Q q 0 0 0 rg BT 174.90 544.57 Td (9�% ) Tj ET Q q 0 0 0 rg BT 197.94 544.57 Td (Senior ) Tj ET Q q 0 0 0 rg BT 226.26 544.57 Td (Secured ) Tj ET Q q 0 0 0 rg BT 260.68 544.57 Td (Second ) Tj ET Q q 0 0 0 rg BT 292.33 544.57 Td (Lien ) Tj ET Q q 0 0 0 rg BT 312.86 544.57 Td (Notes ) Tj ET Q q 0 0 0 rg BT 338.40 544.57 Td (due ) Tj ET Q q 0 0 0 rg BT 355.05 544.57 Td (2022, ) Tj ET Q q 0 0 0 rg BT 379.76 544.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 403.63 544.57 Td (as ) Tj ET Q q 0 0 0 rg BT 414.17 544.57 Td (of ) Tj ET Q q 0 0 0 rg BT 424.71 544.57 Td (December ) Tj ET Q q 0 0 0 rg BT 468.01 544.57 Td (6, ) Tj ET Q q 0 0 0 rg BT 477.72 544.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 502.43 544.57 Td (by ) Tj ET Q q 0 0 0 rg BT 514.64 544.57 Td (and ) Tj ET Q q 0 0 0 rg BT 531.29 544.57 Td (among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 534.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 157.50 534.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 200.61 534.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 220.39 534.57 Td (certain ) Tj ET Q q 0 0 0 rg BT 249.60 534.57 Td (of ) Tj ET Q q 0 0 0 rg BT 259.94 534.57 Td (its ) Tj ET Q q 0 0 0 rg BT 271.40 534.57 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 323.13 534.57 Td (and ) Tj ET Q q 0 0 0 rg BT 339.43 534.57 Td (W) Tj ET Q q 0 0 0 rg BT 348.47 534.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 389.23 534.57 Td (T) Tj ET Q q 0 0 0 rg BT 394.99 534.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 414.50 534.57 Td (National ) Tj ET Q q 0 0 0 rg BT 450.50 534.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 502.22 534.57 Td (as ) Tj ET Q q 0 0 0 rg BT 512.42 534.57 Td (T) Tj ET Q q 0 0 0 rg BT 518.18 534.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 544.06 534.57 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 524.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 162.38 524.57 Td (T) Tj ET Q q 0 0 0 rg BT 168.14 524.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 194.66 524.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 251.17 524.57 Td (by ) Tj ET Q q 0 0 0 rg BT 263.81 524.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 303.64 524.57 Td (to ) Tj ET Q q 0 0 0 rg BT 314.06 524.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 346.15 524.57 Td (4.1 ) Tj ET Q q 0 0 0 rg BT 361.29 524.57 Td (of ) Tj ET Q q 0 0 0 rg BT 372.26 524.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 396.58 524.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 414.77 524.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 435.74 524.57 Td (by ) Tj ET Q q 0 0 0 rg BT 448.39 524.57 Td (the ) Tj ET Q q 0 0 0 rg BT 463.25 524.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 504.78 524.57 Td (on ) Tj ET Q q 0 0 0 rg BT 517.42 524.57 Td (December ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 514.57 Td (12, ) Tj ET Q q 0 0 0 rg BT 135.50 514.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 160.50 514.57 Td (File ) Tj ET Q q 0 0 0 rg BT 178.56 514.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 195.78 514.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 489.57 Td (4\(m\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 489.57 Td (Indenture ) Tj ET Q q 0 0 0 rg BT 161.02 489.57 Td (for ) Tj ET Q q 0 0 0 rg BT 174.89 489.57 Td (3�% ) Tj ET Q q 0 0 0 rg BT 197.93 489.57 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 247.36 489.57 Td (Senior ) Tj ET Q q 0 0 0 rg BT 275.67 489.57 Td (Notes ) Tj ET Q q 0 0 0 rg BT 301.21 489.57 Td (due ) Tj ET Q q 0 0 0 rg BT 317.86 489.57 Td (2024, ) Tj ET Q q 0 0 0 rg BT 342.57 489.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 366.44 489.57 Td (as ) Tj ET Q q 0 0 0 rg BT 376.97 489.57 Td (of ) Tj ET Q q 0 0 0 rg BT 387.51 489.57 Td (December ) Tj ET Q q 0 0 0 rg BT 430.81 489.57 Td (6, ) Tj ET Q q 0 0 0 rg BT 440.52 489.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 465.23 489.57 Td (by ) Tj ET Q q 0 0 0 rg BT 477.44 489.57 Td (and ) Tj ET Q q 0 0 0 rg BT 494.08 489.57 Td (among ) Tj ET Q q 0 0 0 rg BT 523.51 489.57 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 479.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 163.42 479.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 183.00 479.57 Td (certain ) Tj ET Q q 0 0 0 rg BT 212.02 479.57 Td (of ) Tj ET Q q 0 0 0 rg BT 222.17 479.57 Td (its ) Tj ET Q q 0 0 0 rg BT 233.44 479.57 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 284.97 479.57 Td (and ) Tj ET Q q 0 0 0 rg BT 301.10 479.57 Td (W) Tj ET Q q 0 0 0 rg BT 310.13 479.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 350.71 479.57 Td (T) Tj ET Q q 0 0 0 rg BT 356.47 479.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 375.79 479.57 Td (National ) Tj ET Q q 0 0 0 rg BT 411.64 479.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 463.17 479.57 Td (as ) Tj ET Q q 0 0 0 rg BT 473.19 479.57 Td (T) Tj ET Q q 0 0 0 rg BT 478.94 479.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 504.64 479.57 Td (\(incorporated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 469.57 Td (by ) Tj ET Q q 0 0 0 rg BT 133.00 469.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 172.68 469.57 Td (to ) Tj ET Q q 0 0 0 rg BT 182.96 469.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 214.90 469.57 Td (4.3 ) Tj ET Q q 0 0 0 rg BT 229.90 469.57 Td (of ) Tj ET Q q 0 0 0 rg BT 240.73 469.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 264.90 469.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 282.96 469.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 303.78 469.57 Td (by ) Tj ET Q q 0 0 0 rg BT 316.28 469.57 Td (the ) Tj ET Q q 0 0 0 rg BT 331.00 469.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 372.38 469.57 Td (on ) Tj ET Q q 0 0 0 rg BT 384.88 469.57 Td (December ) Tj ET Q q 0 0 0 rg BT 428.47 469.57 Td (12, ) Tj ET Q q 0 0 0 rg BT 443.47 469.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 468.47 469.57 Td (File ) Tj ET Q q 0 0 0 rg BT 486.53 469.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 503.75 469.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 444.57 Td (4\(n\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 444.57 Td (Indenture, ) Tj ET Q q 0 0 0 rg BT 164.44 444.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 189.21 444.57 Td (as ) Tj ET Q q 0 0 0 rg BT 200.67 444.57 Td (of ) Tj ET Q q 0 0 0 rg BT 212.12 444.57 Td (January ) Tj ET Q q 0 0 0 rg BT 246.34 444.57 Td (9, ) Tj ET Q q 0 0 0 rg BT 256.96 444.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 282.58 444.57 Td (among ) Tj ET Q q 0 0 0 rg BT 312.92 444.57 Td (the ) Tj ET Q q 0 0 0 rg BT 328.26 444.57 Td (Company) Tj ET Q q 0 0 0 rg BT 366.49 444.57 Td (, ) Tj ET Q q 0 0 0 rg BT 372.12 444.57 Td (the ) Tj ET Q q 0 0 0 rg BT 387.45 444.57 Td (Subsidiary ) Tj ET Q q 0 0 0 rg BT 433.35 444.57 Td (Guarantors ) Tj ET Q q 0 0 0 rg BT 480.90 444.57 Td (named ) Tj ET Q q 0 0 0 rg BT 510.68 444.57 Td (therein, ) Tj ET Q q 0 0 0 rg BT 544.07 444.57 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 434.57 Td (W) Tj ET Q q 0 0 0 rg BT 129.54 434.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 171.14 434.57 Td (T) Tj ET Q q 0 0 0 rg BT 176.89 434.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 197.31 434.57 Td (National ) Tj ET Q q 0 0 0 rg BT 234.01 434.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 286.65 434.57 Td (as ) Tj ET Q q 0 0 0 rg BT 297.68 434.57 Td (T) Tj ET Q q 0 0 0 rg BT 303.44 434.57 Td (rustee, ) Tj ET Q q 0 0 0 rg BT 332.73 434.57 Td (with ) Tj ET Q q 0 0 0 rg BT 353.43 434.57 Td (respect ) Tj ET Q q 0 0 0 rg BT 384.66 434.57 Td (to ) Tj ET Q q 0 0 0 rg BT 395.36 434.57 Td ($59,439,000 ) Tj ET Q q 0 0 0 rg BT 448.27 434.57 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 490.05 434.57 Td (principal ) Tj ET Q q 0 0 0 rg BT 528.51 434.57 Td (amount ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 424.57 Td (of ) Tj ET Q q 0 0 0 rg BT 131.52 424.57 Td (5% ) Tj ET Q q 0 0 0 rg BT 147.54 424.57 Td (Convertible ) Tj ET Q q 0 0 0 rg BT 197.44 424.57 Td (Senior ) Tj ET Q q 0 0 0 rg BT 226.24 424.57 Td (Notes ) Tj ET Q q 0 0 0 rg BT 252.26 424.57 Td (due ) Tj ET Q q 0 0 0 rg BT 269.39 424.57 Td (2023 ) Tj ET Q q 0 0 0 rg BT 292.08 424.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 348.63 424.57 Td (by ) Tj ET Q q 0 0 0 rg BT 361.32 424.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 401.19 424.57 Td (to ) Tj ET Q q 0 0 0 rg BT 411.66 424.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 443.79 424.57 Td (4.1 ) Tj ET Q q 0 0 0 rg BT 458.98 424.57 Td (of ) Tj ET Q q 0 0 0 rg BT 470.00 424.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 494.36 424.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 512.60 424.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 533.61 424.57 Td (by ) Tj ET Q q 0 0 0 rg BT 546.30 424.57 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 414.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 161.89 414.57 Td (on ) Tj ET Q q 0 0 0 rg BT 174.39 414.57 Td (January ) Tj ET Q q 0 0 0 rg BT 207.99 414.57 Td (1) Tj ET Q q 0 0 0 rg BT 212.61 414.57 Td (1, ) Tj ET Q q 0 0 0 rg BT 222.61 414.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 247.61 414.57 Td (File ) Tj ET Q q 0 0 0 rg BT 265.67 414.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 282.89 414.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 389.57 Td (4\(o\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 389.57 Td (Indenture, ) Tj ET Q q 0 0 0 rg BT 164.30 389.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 188.93 389.57 Td (as ) Tj ET Q q 0 0 0 rg BT 200.24 389.57 Td (of ) Tj ET Q q 0 0 0 rg BT 210.89 389.57 Td (August ) Tj ET Q q 0 0 0 rg BT 242.76 389.57 Td (21, ) Tj ET Q q 0 0 0 rg BT 258.24 389.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 283.72 389.57 Td (among ) Tj ET Q q 0 0 0 rg BT 313.92 389.57 Td (the ) Tj ET Q q 0 0 0 rg BT 329.12 389.57 Td (Company) Tj ET Q q 0 0 0 rg BT 367.36 389.57 Td (, ) Tj ET Q q 0 0 0 rg BT 372.84 389.57 Td (the ) Tj ET Q q 0 0 0 rg BT 388.03 389.57 Td (Subsidiary ) Tj ET Q q 0 0 0 rg BT 433.79 389.57 Td (Guarantors ) Tj ET Q q 0 0 0 rg BT 481.20 389.57 Td (named ) Tj ET Q q 0 0 0 rg BT 510.83 389.57 Td (therein, ) Tj ET Q q 0 0 0 rg BT 544.08 389.57 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 379.57 Td (W) Tj ET Q q 0 0 0 rg BT 129.54 379.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 172.43 379.57 Td (T) Tj ET Q q 0 0 0 rg BT 178.18 379.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 199.99 379.57 Td (National ) Tj ET Q q 0 0 0 rg BT 237.79 379.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 291.81 379.57 Td (as ) Tj ET Q q 0 0 0 rg BT 304.14 379.57 Td (T) Tj ET Q q 0 0 0 rg BT 309.90 379.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 338.08 379.57 Td (and ) Tj ET Q q 0 0 0 rg BT 356.83 379.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 400.26 379.57 Td (T) Tj ET Q q 0 0 0 rg BT 406.01 379.57 Td (rustee, ) Tj ET Q q 0 0 0 rg BT 436.70 379.57 Td (with ) Tj ET Q q 0 0 0 rg BT 458.79 379.57 Td (respect ) Tj ET Q q 0 0 0 rg BT 491.41 379.57 Td (to ) Tj ET Q q 0 0 0 rg BT 503.50 379.57 Td ($450,000,000 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 369.57 Td (aggregate ) Tj ET Q q 0 0 0 rg BT 162.19 369.57 Td (principal ) Tj ET Q q 0 0 0 rg BT 200.55 369.57 Td (amount ) Tj ET Q q 0 0 0 rg BT 233.37 369.57 Td (of ) Tj ET Q q 0 0 0 rg BT 244.53 369.57 Td (7�% ) Tj ET Q q 0 0 0 rg BT 268.18 369.57 Td (Senior ) Tj ET Q q 0 0 0 rg BT 297.12 369.57 Td (Secured ) Tj ET Q q 0 0 0 rg BT 332.15 369.57 Td (Second ) Tj ET Q q 0 0 0 rg BT 364.41 369.57 Td (Lien ) Tj ET Q q 0 0 0 rg BT 385.56 369.57 Td (Notes ) Tj ET Q q 0 0 0 rg BT 411.72 369.57 Td (due ) Tj ET Q q 0 0 0 rg BT 428.98 369.57 Td (2024 ) Tj ET Q q 0 0 0 rg BT 451.80 369.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 508.49 369.57 Td (by ) Tj ET Q q 0 0 0 rg BT 521.32 369.57 Td (reference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 359.57 Td (to ) Tj ET Q q 0 0 0 rg BT 130.78 359.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 162.72 359.57 Td (4.1 ) Tj ET Q q 0 0 0 rg BT 177.72 359.57 Td (of ) Tj ET Q q 0 0 0 rg BT 188.55 359.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 212.72 359.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 230.77 359.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 251.60 359.57 Td (by ) Tj ET Q q 0 0 0 rg BT 264.10 359.57 Td (the ) Tj ET Q q 0 0 0 rg BT 278.82 359.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 320.20 359.57 Td (on ) Tj ET Q q 0 0 0 rg BT 332.15 359.57 Td (August ) Tj ET Q q 0 0 0 rg BT 363.54 359.57 Td (22, ) Tj ET Q q 0 0 0 rg BT 378.54 359.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 403.54 359.57 Td (File ) Tj ET Q q 0 0 0 rg BT 421.60 359.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 438.82 359.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 334.57 Td (10\(a\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 334.57 Td (Amended ) Tj ET Q q 0 0 0 rg BT 162.16 334.57 Td (and ) Tj ET Q q 0 0 0 rg BT 179.39 334.57 Td (Restated ) Tj ET Q q 0 0 0 rg BT 216.61 334.57 Td (Credit ) Tj ET Q q 0 0 0 rg BT 243.78 334.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 293.49 334.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 317.93 334.57 Td (as ) Tj ET Q q 0 0 0 rg BT 329.05 334.57 Td (of ) Tj ET Q q 0 0 0 rg BT 340.17 334.57 Td (December ) Tj ET Q q 0 0 0 rg BT 384.04 334.57 Td (9, ) Tj ET Q q 0 0 0 rg BT 394.32 334.57 Td (2014, ) Tj ET Q q 0 0 0 rg BT 419.61 334.57 Td (by ) Tj ET Q q 0 0 0 rg BT 432.40 334.57 Td (and ) Tj ET Q q 0 0 0 rg BT 449.62 334.57 Td (among ) Tj ET Q q 0 0 0 rg BT 479.63 334.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 517.40 334.57 Td (Resources ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 324.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 141.49 324.57 Td (as ) Tj ET Q q 0 0 0 rg BT 153.04 324.57 Td (Borrower) Tj ET Q q 0 0 0 rg BT 190.96 324.57 Td (, ) Tj ET Q q 0 0 0 rg BT 196.68 324.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 223.17 324.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 240.83 324.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 268.49 324.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 295.32 324.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 320.48 324.57 Td (as ) Tj ET Q q 0 0 0 rg BT 331.32 324.57 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 393.82 324.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 423.98 324.57 Td (and ) Tj ET Q q 0 0 0 rg BT 441.64 324.57 Td (the ) Tj ET Q q 0 0 0 rg BT 457.08 324.57 Td (lending ) Tj ET Q q 0 0 0 rg BT 490.29 324.57 Td (institutions ) Tj ET Q q 0 0 0 rg BT 537.96 324.57 Td (party ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 314.57 Td (thereto ) Tj ET Q q 0 0 0 rg BT 150.82 314.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 207.23 314.57 Td (by ) Tj ET Q q 0 0 0 rg BT 219.79 314.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 259.52 314.57 Td (to ) Tj ET Q q 0 0 0 rg BT 269.86 314.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 301.85 314.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 321.91 314.57 Td (of ) Tj ET Q q 0 0 0 rg BT 332.79 314.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 357.01 314.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 375.12 314.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 396.00 314.57 Td (by ) Tj ET Q q 0 0 0 rg BT 408.55 314.57 Td (the ) Tj ET Q q 0 0 0 rg BT 423.32 314.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 464.76 314.57 Td (on ) Tj ET Q q 0 0 0 rg BT 477.32 314.57 Td (December ) Tj ET Q q 0 0 0 rg BT 520.95 314.57 Td (15, ) Tj ET Q q 0 0 0 rg BT 536.01 314.57 Td (2014, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 304.57 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 304.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 304.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 279.57 Td (10\(b\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 279.57 Td (First ) Tj ET Q q 0 0 0 rg BT 140.25 279.57 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 191.49 279.57 Td (to ) Tj ET Q q 0 0 0 rg BT 200.67 279.57 Td (Amended ) Tj ET Q q 0 0 0 rg BT 241.35 279.57 Td (and ) Tj ET Q q 0 0 0 rg BT 257.60 279.57 Td (Restated ) Tj ET Q q 0 0 0 rg BT 293.84 279.57 Td (Credit ) Tj ET Q q 0 0 0 rg BT 320.24 279.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 368.97 279.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 392.43 279.57 Td (as ) Tj ET Q q 0 0 0 rg BT 402.56 279.57 Td (of ) Tj ET Q q 0 0 0 rg BT 412.70 279.57 Td (May ) Tj ET Q q 0 0 0 rg BT 432.84 279.57 Td (4, ) Tj ET Q q 0 0 0 rg BT 442.14 279.57 Td (2015, ) Tj ET Q q 0 0 0 rg BT 466.45 279.57 Td (by ) Tj ET Q q 0 0 0 rg BT 478.25 279.57 Td (and ) Tj ET Q q 0 0 0 rg BT 494.50 279.57 Td (among ) Tj ET Q q 0 0 0 rg BT 523.52 279.57 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 269.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 162.94 269.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 182.04 269.57 Td (as ) Tj ET Q q 0 0 0 rg BT 191.71 269.57 Td (Borrower) Tj ET Q q 0 0 0 rg BT 229.63 269.57 Td (, ) Tj ET Q q 0 0 0 rg BT 233.46 269.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 259.96 269.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 275.73 269.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 301.51 269.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 326.46 269.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 349.74 269.57 Td (as ) Tj ET Q q 0 0 0 rg BT 359.11 269.57 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 420.14 269.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 448.41 269.57 Td (and ) Tj ET Q q 0 0 0 rg BT 464.19 269.57 Td (the ) Tj ET Q q 0 0 0 rg BT 477.74 269.57 Td (financial ) Tj ET Q q 0 0 0 rg BT 514.06 269.57 Td (institutions ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 259.57 Td (party ) Tj ET Q q 0 0 0 rg BT 143.38 259.57 Td (thereto ) Tj ET Q q 0 0 0 rg BT 173.48 259.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 229.67 259.57 Td (by ) Tj ET Q q 0 0 0 rg BT 242.01 259.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 281.53 259.57 Td (to ) Tj ET Q q 0 0 0 rg BT 291.64 259.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 323.42 259.57 Td (10\(a\) ) Tj ET Q q 0 0 0 rg BT 346.85 259.57 Td (of ) Tj ET Q q 0 0 0 rg BT 357.51 259.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 381.52 259.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 404.40 259.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 425.06 259.57 Td (by ) Tj ET Q q 0 0 0 rg BT 437.39 259.57 Td (the ) Tj ET Q q 0 0 0 rg BT 451.95 259.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 493.17 259.57 Td (on ) Tj ET Q q 0 0 0 rg BT 505.50 259.57 Td (May ) Tj ET Q q 0 0 0 rg BT 526.16 259.57 Td (6, ) Tj ET Q q 0 0 0 rg BT 536.00 259.57 Td (2015, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 249.57 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 249.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 249.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 224.57 Td (10\(c\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 224.57 Td (Second ) Tj ET Q q 0 0 0 rg BT 151.49 224.57 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 202.92 224.57 Td (to ) Tj ET Q q 0 0 0 rg BT 212.26 224.57 Td (Amended ) Tj ET Q q 0 0 0 rg BT 253.13 224.57 Td (and ) Tj ET Q q 0 0 0 rg BT 269.56 224.57 Td (Restated ) Tj ET Q q 0 0 0 rg BT 305.99 224.57 Td (Credit ) Tj ET Q q 0 0 0 rg BT 332.54 224.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 381.46 224.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 405.12 224.57 Td (as ) Tj ET Q q 0 0 0 rg BT 415.44 224.57 Td (of ) Tj ET Q q 0 0 0 rg BT 425.77 224.57 Td (February ) Tj ET Q q 0 0 0 rg BT 463.86 224.57 Td (17, ) Tj ET Q q 0 0 0 rg BT 478.36 224.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 502.85 224.57 Td (by ) Tj ET Q q 0 0 0 rg BT 514.85 224.57 Td (and ) Tj ET Q q 0 0 0 rg BT 531.29 224.57 Td (among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 214.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 157.52 214.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 200.66 214.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 220.46 214.57 Td (as ) Tj ET Q q 0 0 0 rg BT 230.82 214.57 Td (Borrower) Tj ET Q q 0 0 0 rg BT 268.74 214.57 Td (, ) Tj ET Q q 0 0 0 rg BT 273.28 214.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 299.77 214.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 316.24 214.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 342.71 214.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 368.36 214.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 392.33 214.57 Td (as ) Tj ET Q q 0 0 0 rg BT 402.25 214.57 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 463.82 214.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 492.80 214.57 Td (and ) Tj ET Q q 0 0 0 rg BT 509.27 214.57 Td (the ) Tj ET Q q 0 0 0 rg BT 523.52 214.57 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 204.57 Td (institutions ) Tj ET Q q 0 0 0 rg BT 168.36 204.57 Td (party ) Tj ET Q q 0 0 0 rg BT 192.31 204.57 Td (thereto ) Tj ET Q q 0 0 0 rg BT 223.48 204.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 280.75 204.57 Td (by ) Tj ET Q q 0 0 0 rg BT 294.15 204.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 334.74 204.57 Td (to ) Tj ET Q q 0 0 0 rg BT 345.93 204.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 378.78 204.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 399.68 204.57 Td (of ) Tj ET Q q 0 0 0 rg BT 411.42 204.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 436.49 204.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 455.45 204.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 477.18 204.57 Td (by ) Tj ET Q q 0 0 0 rg BT 490.59 204.57 Td (the ) Tj ET Q q 0 0 0 rg BT 506.21 204.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 548.50 204.57 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 194.57 Td (February ) Tj ET Q q 0 0 0 rg BT 159.10 194.57 Td (23, ) Tj ET Q q 0 0 0 rg BT 174.10 194.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 199.10 194.57 Td (File ) Tj ET Q q 0 0 0 rg BT 217.16 194.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 234.38 194.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 169.57 Td (10\(d\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 169.57 Td (Third ) Tj ET Q q 0 0 0 rg BT 145.44 169.57 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 198.37 169.57 Td (to ) Tj ET Q q 0 0 0 rg BT 208.87 169.57 Td (Amended ) Tj ET Q q 0 0 0 rg BT 251.24 169.57 Td (and ) Tj ET Q q 0 0 0 rg BT 269.18 169.57 Td (Restated ) Tj ET Q q 0 0 0 rg BT 307.11 169.57 Td (Credit ) Tj ET Q q 0 0 0 rg BT 334.82 169.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 385.24 169.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 410.39 169.57 Td (as ) Tj ET Q q 0 0 0 rg BT 422.22 169.57 Td (of ) Tj ET Q q 0 0 0 rg BT 433.27 169.57 Td (April ) Tj ET Q q 0 0 0 rg BT 457.88 169.57 Td (18, ) Tj ET Q q 0 0 0 rg BT 473.87 169.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 499.87 169.57 Td (by ) Tj ET Q q 0 0 0 rg BT 513.36 169.57 Td (and ) Tj ET Q q 0 0 0 rg BT 531.29 169.57 Td (among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 159.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 157.52 159.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 200.66 159.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 220.46 159.57 Td (as ) Tj ET Q q 0 0 0 rg BT 230.82 159.57 Td (Borrower) Tj ET Q q 0 0 0 rg BT 268.74 159.57 Td (, ) Tj ET Q q 0 0 0 rg BT 273.28 159.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 299.77 159.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 316.24 159.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 342.71 159.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 368.36 159.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 392.33 159.57 Td (as ) Tj ET Q q 0 0 0 rg BT 402.25 159.57 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 463.82 159.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 492.80 159.57 Td (and ) Tj ET Q q 0 0 0 rg BT 509.27 159.57 Td (the ) Tj ET Q q 0 0 0 rg BT 523.52 159.57 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 149.57 Td (institutions ) Tj ET Q q 0 0 0 rg BT 166.94 149.57 Td (party ) Tj ET Q q 0 0 0 rg BT 189.48 149.57 Td (thereto ) Tj ET Q q 0 0 0 rg BT 219.23 149.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 275.08 149.57 Td (by ) Tj ET Q q 0 0 0 rg BT 287.07 149.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 326.25 149.57 Td (to ) Tj ET Q q 0 0 0 rg BT 336.02 149.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 367.45 149.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 386.94 149.57 Td (of ) Tj ET Q q 0 0 0 rg BT 397.26 149.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 420.92 149.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 438.46 149.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 458.77 149.57 Td (by ) Tj ET Q q 0 0 0 rg BT 470.76 149.57 Td (the ) Tj ET Q q 0 0 0 rg BT 484.97 149.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 525.85 149.57 Td (on ) Tj ET Q q 0 0 0 rg BT 537.40 149.57 Td (April ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 139.57 Td (20, ) Tj ET Q q 0 0 0 rg BT 135.50 139.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 160.50 139.57 Td (File ) Tj ET Q q 0 0 0 rg BT 178.56 139.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 195.78 139.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 114.57 Td (10\(e\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 114.57 Td (Fourth ) Tj ET Q q 0 0 0 rg BT 150.02 114.57 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 203.12 114.57 Td (to ) Tj ET Q q 0 0 0 rg BT 213.75 114.57 Td (Amended ) Tj ET Q q 0 0 0 rg BT 256.29 114.57 Td (and ) Tj ET Q q 0 0 0 rg BT 274.39 114.57 Td (Restated ) Tj ET Q q 0 0 0 rg BT 312.48 114.57 Td (Credit ) Tj ET Q q 0 0 0 rg BT 340.33 114.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 390.91 114.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 416.23 114.57 Td (as ) Tj ET Q q 0 0 0 rg BT 428.22 114.57 Td (of ) Tj ET Q q 0 0 0 rg BT 440.21 114.57 Td (May ) Tj ET Q q 0 0 0 rg BT 462.20 114.57 Td (3, ) Tj ET Q q 0 0 0 rg BT 473.37 114.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 499.53 114.57 Td (by ) Tj ET Q q 0 0 0 rg BT 513.19 114.57 Td (and ) Tj ET Q q 0 0 0 rg BT 531.29 114.57 Td (among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 104.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 157.52 104.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 200.66 104.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 220.46 104.57 Td (as ) Tj ET Q q 0 0 0 rg BT 230.82 104.57 Td (Borrower) Tj ET Q q 0 0 0 rg BT 268.74 104.57 Td (, ) Tj ET Q q 0 0 0 rg BT 273.28 104.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 299.77 104.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 316.24 104.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 342.71 104.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 368.36 104.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 392.33 104.57 Td (as ) Tj ET Q q 0 0 0 rg BT 402.25 104.57 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 463.82 104.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 492.80 104.57 Td (and ) Tj ET Q q 0 0 0 rg BT 509.27 104.57 Td (the ) Tj ET Q q 0 0 0 rg BT 523.52 104.57 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 94.57 Td (institutions ) Tj ET Q q 0 0 0 rg BT 167.08 94.57 Td (party ) Tj ET Q q 0 0 0 rg BT 189.76 94.57 Td (thereto ) Tj ET Q q 0 0 0 rg BT 219.65 94.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 275.64 94.57 Td (by ) Tj ET Q q 0 0 0 rg BT 287.77 94.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 327.08 94.57 Td (to ) Tj ET Q q 0 0 0 rg BT 336.98 94.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 368.55 94.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 388.18 94.57 Td (of ) Tj ET Q q 0 0 0 rg BT 398.64 94.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 422.44 94.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 440.12 94.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 460.57 94.57 Td (by ) Tj ET Q q 0 0 0 rg BT 472.70 94.57 Td (the ) Tj ET Q q 0 0 0 rg BT 487.04 94.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 528.06 94.57 Td (on ) Tj ET Q q 0 0 0 rg BT 540.19 94.57 Td (May ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 84.57 Td (4, ) Tj ET Q q 0 0 0 rg BT 130.50 84.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 155.50 84.57 Td (File ) Tj ET Q q 0 0 0 rg BT 173.56 84.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 190.78 84.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 217 0 obj <> endobj 218 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 30.60 Td (108) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 719 m 114 719 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 118 719 m 562 719 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 723.68 Td (Exhibit No.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.50 723.68 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 709.57 Td (10\(f\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 709.57 Td (Fifth ) Tj ET Q q 0 0 0 rg BT 141.96 709.57 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 193.96 709.57 Td (to ) Tj ET Q q 0 0 0 rg BT 203.75 709.57 Td (Amended ) Tj ET Q q 0 0 0 rg BT 245.20 709.57 Td (and ) Tj ET Q q 0 0 0 rg BT 262.22 709.57 Td (Restated ) Tj ET Q q 0 0 0 rg BT 299.23 709.57 Td (Credit ) Tj ET Q q 0 0 0 rg BT 326.23 709.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 375.73 709.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 399.96 709.57 Td (as ) Tj ET Q q 0 0 0 rg BT 410.87 709.57 Td (of ) Tj ET Q q 0 0 0 rg BT 421.77 709.57 Td (November ) Tj ET Q q 0 0 0 rg BT 466.55 709.57 Td (6, ) Tj ET Q q 0 0 0 rg BT 476.63 709.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 501.71 709.57 Td (by ) Tj ET Q q 0 0 0 rg BT 514.28 709.57 Td (and ) Tj ET Q q 0 0 0 rg BT 531.29 709.57 Td (among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 699.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 157.52 699.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 200.66 699.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 220.46 699.57 Td (as ) Tj ET Q q 0 0 0 rg BT 230.82 699.57 Td (Borrower) Tj ET Q q 0 0 0 rg BT 268.74 699.57 Td (, ) Tj ET Q q 0 0 0 rg BT 273.28 699.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 299.77 699.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 316.24 699.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 342.71 699.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 368.36 699.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 392.33 699.57 Td (as ) Tj ET Q q 0 0 0 rg BT 402.25 699.57 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 463.82 699.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 492.80 699.57 Td (and ) Tj ET Q q 0 0 0 rg BT 509.27 699.57 Td (the ) Tj ET Q q 0 0 0 rg BT 523.52 699.57 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 689.57 Td (institutions ) Tj ET Q q 0 0 0 rg BT 167.79 689.57 Td (party ) Tj ET Q q 0 0 0 rg BT 191.17 689.57 Td (thereto ) Tj ET Q q 0 0 0 rg BT 221.76 689.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 278.46 689.57 Td (by ) Tj ET Q q 0 0 0 rg BT 291.29 689.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 331.31 689.57 Td (to ) Tj ET Q q 0 0 0 rg BT 341.92 689.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 374.20 689.57 Td (10\(b\) ) Tj ET Q q 0 0 0 rg BT 398.69 689.57 Td (of ) Tj ET Q q 0 0 0 rg BT 409.86 689.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 434.36 689.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 457.74 689.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 478.90 689.57 Td (by ) Tj ET Q q 0 0 0 rg BT 491.74 689.57 Td (the ) Tj ET Q q 0 0 0 rg BT 506.79 689.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 548.51 689.57 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 679.57 Td (November ) Tj ET Q q 0 0 0 rg BT 165.21 679.57 Td (7, ) Tj ET Q q 0 0 0 rg BT 175.21 679.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 200.21 679.57 Td (File ) Tj ET Q q 0 0 0 rg BT 218.26 679.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 235.49 679.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 654.57 Td (10\(g\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 654.57 Td (Sixth ) Tj ET Q q 0 0 0 rg BT 144.00 654.57 Td (Amendment ) Tj ET Q q 0 0 0 rg BT 196.48 654.57 Td (to ) Tj ET Q q 0 0 0 rg BT 206.64 654.57 Td (Amended ) Tj ET Q q 0 0 0 rg BT 248.57 654.57 Td (and ) Tj ET Q q 0 0 0 rg BT 266.06 654.57 Td (Restated ) Tj ET Q q 0 0 0 rg BT 303.55 654.57 Td (Credit ) Tj ET Q q 0 0 0 rg BT 330.93 654.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 380.90 654.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 405.61 654.57 Td (as ) Tj ET Q q 0 0 0 rg BT 416.99 654.57 Td (of ) Tj ET Q q 0 0 0 rg BT 427.70 654.57 Td (August ) Tj ET Q q 0 0 0 rg BT 459.65 654.57 Td (13, ) Tj ET Q q 0 0 0 rg BT 475.20 654.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 500.75 654.57 Td (by ) Tj ET Q q 0 0 0 rg BT 513.81 654.57 Td (and ) Tj ET Q q 0 0 0 rg BT 531.30 654.57 Td (among ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 644.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 157.52 644.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 200.66 644.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 220.46 644.57 Td (as ) Tj ET Q q 0 0 0 rg BT 230.82 644.57 Td (Borrower) Tj ET Q q 0 0 0 rg BT 268.74 644.57 Td (, ) Tj ET Q q 0 0 0 rg BT 273.28 644.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 299.77 644.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 316.24 644.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 342.71 644.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 368.36 644.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 392.33 644.57 Td (as ) Tj ET Q q 0 0 0 rg BT 402.25 644.57 Td (Administrative ) Tj ET Q q 0 0 0 rg BT 463.82 644.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 492.80 644.57 Td (and ) Tj ET Q q 0 0 0 rg BT 509.27 644.57 Td (the ) Tj ET Q q 0 0 0 rg BT 523.52 644.57 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 634.57 Td (institutions ) Tj ET Q q 0 0 0 rg BT 168.36 634.57 Td (party ) Tj ET Q q 0 0 0 rg BT 192.31 634.57 Td (thereto ) Tj ET Q q 0 0 0 rg BT 223.48 634.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 280.75 634.57 Td (by ) Tj ET Q q 0 0 0 rg BT 294.15 634.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 334.74 634.57 Td (to ) Tj ET Q q 0 0 0 rg BT 345.93 634.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 378.78 634.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 399.68 634.57 Td (of ) Tj ET Q q 0 0 0 rg BT 411.42 634.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 436.49 634.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 455.45 634.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 477.18 634.57 Td (by ) Tj ET Q q 0 0 0 rg BT 490.59 634.57 Td (the ) Tj ET Q q 0 0 0 rg BT 506.21 634.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 548.50 634.57 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 624.57 Td (August ) Tj ET Q q 0 0 0 rg BT 151.89 624.57 Td (14, ) Tj ET Q q 0 0 0 rg BT 166.89 624.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 191.89 624.57 Td (File ) Tj ET Q q 0 0 0 rg BT 209.95 624.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 227.17 624.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 609.57 Td (10\(h\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 609.57 Td (Commitment ) Tj ET Q q 0 0 0 rg BT 176.04 609.57 Td (Letter) Tj ET Q q 0 0 0 rg BT 199.51 609.57 Td (, ) Tj ET Q q 0 0 0 rg BT 204.78 609.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 229.20 609.57 Td (October ) Tj ET Q q 0 0 0 rg BT 264.17 609.57 Td (28, ) Tj ET Q q 0 0 0 rg BT 279.43 609.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 304.69 609.57 Td (from ) Tj ET Q q 0 0 0 rg BT 326.90 609.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 353.39 609.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 370.59 609.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 397.79 609.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 424.17 609.57 Td (N.A. ) Tj ET Q q 0 0 0 rg BT 446.37 609.57 Td (regarding ) Tj ET Q q 0 0 0 rg BT 487.45 609.57 Td (a ) Tj ET Q q 0 0 0 rg BT 494.66 609.57 Td (revolving ) Tj ET Q q 0 0 0 rg BT 535.74 609.57 Td (credit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 599.57 Td (facility ) Tj ET Q q 0 0 0 rg BT 151.59 599.57 Td (and ) Tj ET Q q 0 0 0 rg BT 168.79 599.57 Td (a ) Tj ET Q q 0 0 0 rg BT 176.00 599.57 Td (bridge ) Tj ET Q q 0 0 0 rg BT 204.31 599.57 Td (facility ) Tj ET Q q 0 0 0 rg BT 235.40 599.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 292.02 599.57 Td (by ) Tj ET Q q 0 0 0 rg BT 304.79 599.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 344.74 599.57 Td (to ) Tj ET Q q 0 0 0 rg BT 355.28 599.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 387.49 599.57 Td (10\(d\) ) Tj ET Q q 0 0 0 rg BT 411.92 599.57 Td (of ) Tj ET Q q 0 0 0 rg BT 423.01 599.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 447.45 599.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 470.77 599.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 491.86 599.57 Td (by ) Tj ET Q q 0 0 0 rg BT 504.63 599.57 Td (the ) Tj ET Q q 0 0 0 rg BT 519.61 599.57 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 589.57 Td (on ) Tj ET Q q 0 0 0 rg BT 133.00 589.57 Td (November ) Tj ET Q q 0 0 0 rg BT 177.71 589.57 Td (9, ) Tj ET Q q 0 0 0 rg BT 187.71 589.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 212.71 589.57 Td (File ) Tj ET Q q 0 0 0 rg BT 230.76 589.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 247.99 589.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 564.57 Td (10\(i\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 564.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 162.64 564.57 Td (T) Tj ET Q q 0 0 0 rg BT 168.39 564.57 Td (rust ) Tj ET Q q 0 0 0 rg BT 185.67 564.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 235.51 564.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 260.08 564.57 Td (as ) Tj ET Q q 0 0 0 rg BT 271.33 564.57 Td (of ) Tj ET Q q 0 0 0 rg BT 282.58 564.57 Td (May ) Tj ET Q q 0 0 0 rg BT 303.83 564.57 Td (10, ) Tj ET Q q 0 0 0 rg BT 319.25 564.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 344.67 564.57 Td (by ) Tj ET Q q 0 0 0 rg BT 357.59 564.57 Td (and ) Tj ET Q q 0 0 0 rg BT 374.95 564.57 Td (among ) Tj ET Q q 0 0 0 rg BT 405.08 564.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 442.99 564.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 487.01 564.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 507.70 564.57 Td (certain ) Tj ET Q q 0 0 0 rg BT 537.82 564.57 Td (of ) Tj ET Q q 0 0 0 rg BT 549.07 564.57 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 554.57 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 173.10 554.57 Td (and ) Tj ET Q q 0 0 0 rg BT 190.22 554.57 Td (W) Tj ET Q q 0 0 0 rg BT 199.26 554.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 240.83 554.57 Td (T) Tj ET Q q 0 0 0 rg BT 246.59 554.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 266.98 554.57 Td (National ) Tj ET Q q 0 0 0 rg BT 303.66 554.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 356.27 554.57 Td (as ) Tj ET Q q 0 0 0 rg BT 367.28 554.57 Td (T) Tj ET Q q 0 0 0 rg BT 373.03 554.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 399.80 554.57 Td (and ) Tj ET Q q 0 0 0 rg BT 417.13 554.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 459.23 554.57 Td (T) Tj ET Q q 0 0 0 rg BT 464.99 554.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 491.76 554.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 548.51 554.57 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 544.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 160.18 544.57 Td (to ) Tj ET Q q 0 0 0 rg BT 170.46 544.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 202.40 544.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 222.40 544.57 Td (of ) Tj ET Q q 0 0 0 rg BT 233.23 544.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 257.40 544.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 275.46 544.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 296.28 544.57 Td (by ) Tj ET Q q 0 0 0 rg BT 308.78 544.57 Td (the ) Tj ET Q q 0 0 0 rg BT 323.50 544.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 364.88 544.57 Td (on ) Tj ET Q q 0 0 0 rg BT 377.38 544.57 Td (May ) Tj ET Q q 0 0 0 rg BT 398.21 544.57 Td (1) Tj ET Q q 0 0 0 rg BT 402.84 544.57 Td (1, ) Tj ET Q q 0 0 0 rg BT 412.84 544.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 437.84 544.57 Td (File ) Tj ET Q q 0 0 0 rg BT 455.90 544.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 473.12 544.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 519.57 Td (10\(j\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 519.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 162.47 519.57 Td (T) Tj ET Q q 0 0 0 rg BT 168.23 519.57 Td (rust ) Tj ET Q q 0 0 0 rg BT 185.97 519.57 Td (Joinder) Tj ET Q q 0 0 0 rg BT 215.01 519.57 Td (, ) Tj ET Q q 0 0 0 rg BT 220.25 519.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 244.64 519.57 Td (as ) Tj ET Q q 0 0 0 rg BT 255.71 519.57 Td (of ) Tj ET Q q 0 0 0 rg BT 266.79 519.57 Td (December ) Tj ET Q q 0 0 0 rg BT 310.61 519.57 Td (6, ) Tj ET Q q 0 0 0 rg BT 320.85 519.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 346.09 519.57 Td (by ) Tj ET Q q 0 0 0 rg BT 358.83 519.57 Td (and ) Tj ET Q q 0 0 0 rg BT 376.01 519.57 Td (among ) Tj ET Q q 0 0 0 rg BT 405.97 519.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 443.70 519.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 487.54 519.57 Td (Inc., ) Tj ET Q q 0 0 0 rg BT 508.05 519.57 Td (certain ) Tj ET Q q 0 0 0 rg BT 537.99 519.57 Td (of ) Tj ET Q q 0 0 0 rg BT 549.06 519.57 Td (its ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 509.57 Td (subsidiaries, ) Tj ET Q q 0 0 0 rg BT 173.10 509.57 Td (and ) Tj ET Q q 0 0 0 rg BT 190.22 509.57 Td (W) Tj ET Q q 0 0 0 rg BT 199.26 509.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 240.83 509.57 Td (T) Tj ET Q q 0 0 0 rg BT 246.59 509.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 266.98 509.57 Td (National ) Tj ET Q q 0 0 0 rg BT 303.66 509.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 356.27 509.57 Td (as ) Tj ET Q q 0 0 0 rg BT 367.28 509.57 Td (T) Tj ET Q q 0 0 0 rg BT 373.03 509.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 399.80 509.57 Td (and ) Tj ET Q q 0 0 0 rg BT 417.13 509.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 459.23 509.57 Td (T) Tj ET Q q 0 0 0 rg BT 464.99 509.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 491.76 509.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 548.51 509.57 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 499.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 160.18 499.57 Td (to ) Tj ET Q q 0 0 0 rg BT 170.46 499.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 202.40 499.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 222.40 499.57 Td (of ) Tj ET Q q 0 0 0 rg BT 233.23 499.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 257.40 499.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 275.46 499.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 296.28 499.57 Td (by ) Tj ET Q q 0 0 0 rg BT 308.78 499.57 Td (the ) Tj ET Q q 0 0 0 rg BT 323.50 499.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 364.88 499.57 Td (on ) Tj ET Q q 0 0 0 rg BT 377.38 499.57 Td (December ) Tj ET Q q 0 0 0 rg BT 420.97 499.57 Td (12, ) Tj ET Q q 0 0 0 rg BT 435.97 499.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 460.97 499.57 Td (File ) Tj ET Q q 0 0 0 rg BT 479.03 499.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 496.25 499.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 474.57 Td (10\(k\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 474.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 162.45 474.57 Td (T) Tj ET Q q 0 0 0 rg BT 168.21 474.57 Td (rust ) Tj ET Q q 0 0 0 rg BT 185.93 474.57 Td (Joinder) Tj ET Q q 0 0 0 rg BT 214.97 474.57 Td (, ) Tj ET Q q 0 0 0 rg BT 220.19 474.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 244.57 474.57 Td (as ) Tj ET Q q 0 0 0 rg BT 255.62 474.57 Td (of ) Tj ET Q q 0 0 0 rg BT 266.67 474.57 Td (January ) Tj ET Q q 0 0 0 rg BT 300.49 474.57 Td (9, ) Tj ET Q q 0 0 0 rg BT 310.71 474.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 335.93 474.57 Td (among ) Tj ET Q q 0 0 0 rg BT 365.87 474.57 Td (the ) Tj ET Q q 0 0 0 rg BT 380.81 474.57 Td (Company) Tj ET Q q 0 0 0 rg BT 419.04 474.57 Td (, ) Tj ET Q q 0 0 0 rg BT 424.27 474.57 Td (the ) Tj ET Q q 0 0 0 rg BT 439.20 474.57 Td (Subsidiary ) Tj ET Q q 0 0 0 rg BT 484.70 474.57 Td (Guarantors ) Tj ET Q q 0 0 0 rg BT 531.85 474.57 Td (named ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 464.57 Td (therein, ) Tj ET Q q 0 0 0 rg BT 153.22 464.57 Td (W) Tj ET Q q 0 0 0 rg BT 162.26 464.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 203.60 464.57 Td (T) Tj ET Q q 0 0 0 rg BT 209.36 464.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 229.51 464.57 Td (National ) Tj ET Q q 0 0 0 rg BT 266.00 464.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 318.37 464.57 Td (as ) Tj ET Q q 0 0 0 rg BT 329.15 464.57 Td (T) Tj ET Q q 0 0 0 rg BT 334.91 464.57 Td (rustee, ) Tj ET Q q 0 0 0 rg BT 363.93 464.57 Td (the ) Tj ET Q q 0 0 0 rg BT 378.79 464.57 Td (other ) Tj ET Q q 0 0 0 rg BT 401.99 464.57 Td (parity ) Tj ET Q q 0 0 0 rg BT 427.96 464.57 Td (lien ) Tj ET Q q 0 0 0 rg BT 445.60 464.57 Td (representatives ) Tj ET Q q 0 0 0 rg BT 508.22 464.57 Td (from ) Tj ET Q q 0 0 0 rg BT 530.30 464.57 Td (time ) Tj ET Q q 0 0 0 rg BT 550.72 464.57 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 454.57 Td (time ) Tj ET Q q 0 0 0 rg BT 140.16 454.57 Td (party ) Tj ET Q q 0 0 0 rg BT 162.59 454.57 Td (thereto ) Tj ET Q q 0 0 0 rg BT 192.25 454.57 Td (and ) Tj ET Q q 0 0 0 rg BT 208.44 454.57 Td (W) Tj ET Q q 0 0 0 rg BT 217.47 454.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 258.12 454.57 Td (T) Tj ET Q q 0 0 0 rg BT 263.87 454.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 283.26 454.57 Td (National ) Tj ET Q q 0 0 0 rg BT 319.16 454.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 370.77 454.57 Td (as ) Tj ET Q q 0 0 0 rg BT 380.99 454.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 422.17 454.57 Td (T) Tj ET Q q 0 0 0 rg BT 427.92 454.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 453.69 454.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 509.44 454.57 Td (by ) Tj ET Q q 0 0 0 rg BT 521.32 454.57 Td (reference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 444.57 Td (to ) Tj ET Q q 0 0 0 rg BT 130.78 444.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 162.72 444.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 182.72 444.57 Td (of ) Tj ET Q q 0 0 0 rg BT 193.55 444.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 217.72 444.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 235.77 444.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 256.60 444.57 Td (by ) Tj ET Q q 0 0 0 rg BT 269.10 444.57 Td (the ) Tj ET Q q 0 0 0 rg BT 283.82 444.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 325.20 444.57 Td (on ) Tj ET Q q 0 0 0 rg BT 337.70 444.57 Td (January ) Tj ET Q q 0 0 0 rg BT 371.30 444.57 Td (1) Tj ET Q q 0 0 0 rg BT 375.93 444.57 Td (1, ) Tj ET Q q 0 0 0 rg BT 385.93 444.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 410.93 444.57 Td (File ) Tj ET Q q 0 0 0 rg BT 428.99 444.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 446.21 444.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 419.57 Td (10\(l\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 419.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 163.20 419.57 Td (T) Tj ET Q q 0 0 0 rg BT 168.96 419.57 Td (rust ) Tj ET Q q 0 0 0 rg BT 187.49 419.57 Td (Joinder) Tj ET Q q 0 0 0 rg BT 216.53 419.57 Td (, ) Tj ET Q q 0 0 0 rg BT 222.56 419.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 247.74 419.57 Td (as ) Tj ET Q q 0 0 0 rg BT 259.60 419.57 Td (of ) Tj ET Q q 0 0 0 rg BT 270.68 419.57 Td (August ) Tj ET Q q 0 0 0 rg BT 303.10 419.57 Td (21, ) Tj ET Q q 0 0 0 rg BT 319.13 419.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 345.16 419.57 Td (between ) Tj ET Q q 0 0 0 rg BT 381.75 419.57 Td (W) Tj ET Q q 0 0 0 rg BT 390.79 419.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 432.95 419.57 Td (T) Tj ET Q q 0 0 0 rg BT 438.71 419.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 459.74 419.57 Td (National ) Tj ET Q q 0 0 0 rg BT 496.92 419.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 550.17 419.57 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 409.57 Td (T) Tj ET Q q 0 0 0 rg BT 126.26 409.57 Td (rustee, ) Tj ET Q q 0 0 0 rg BT 154.26 409.57 Td (and ) Tj ET Q q 0 0 0 rg BT 170.21 409.57 Td (W) Tj ET Q q 0 0 0 rg BT 179.25 409.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 219.65 409.57 Td (T) Tj ET Q q 0 0 0 rg BT 225.41 409.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 244.53 409.57 Td (National ) Tj ET Q q 0 0 0 rg BT 280.23 409.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 331.58 409.57 Td (as ) Tj ET Q q 0 0 0 rg BT 341.54 409.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 382.48 409.57 Td (T) Tj ET Q q 0 0 0 rg BT 388.23 409.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 413.74 409.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 469.23 409.57 Td (by ) Tj ET Q q 0 0 0 rg BT 480.85 409.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 519.66 409.57 Td (to ) Tj ET Q q 0 0 0 rg BT 529.07 409.57 Td (Exhibit ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 399.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 140.50 399.57 Td (of ) Tj ET Q q 0 0 0 rg BT 151.33 399.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 175.50 399.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 193.55 399.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 214.38 399.57 Td (by ) Tj ET Q q 0 0 0 rg BT 226.88 399.57 Td (the ) Tj ET Q q 0 0 0 rg BT 241.59 399.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 282.98 399.57 Td (on ) Tj ET Q q 0 0 0 rg BT 294.93 399.57 Td (August ) Tj ET Q q 0 0 0 rg BT 326.32 399.57 Td (22, ) Tj ET Q q 0 0 0 rg BT 341.32 399.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 366.32 399.57 Td (File ) Tj ET Q q 0 0 0 rg BT 384.38 399.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 401.60 399.57 Td (001-12935\). ) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 374.57 Td (10\(m\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 374.57 Td (Intercreditor ) Tj ET Q q 0 0 0 rg BT 172.54 374.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 222.12 374.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 246.43 374.57 Td (as ) Tj ET Q q 0 0 0 rg BT 257.41 374.57 Td (of ) Tj ET Q q 0 0 0 rg BT 268.40 374.57 Td (May ) Tj ET Q q 0 0 0 rg BT 289.39 374.57 Td (10, ) Tj ET Q q 0 0 0 rg BT 304.54 374.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 329.70 374.57 Td (by ) Tj ET Q q 0 0 0 rg BT 342.35 374.57 Td (and ) Tj ET Q q 0 0 0 rg BT 359.44 374.57 Td (between ) Tj ET Q q 0 0 0 rg BT 395.42 374.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 421.91 374.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 439.00 374.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 466.10 374.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 492.36 374.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 516.96 374.57 Td (as ) Tj ET Q q 0 0 0 rg BT 527.94 374.57 Td (Priority ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 364.57 Td (Lien ) Tj ET Q q 0 0 0 rg BT 141.15 364.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 171.06 364.57 Td (and ) Tj ET Q q 0 0 0 rg BT 188.26 364.57 Td (W) Tj ET Q q 0 0 0 rg BT 197.30 364.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 238.95 364.57 Td (T) Tj ET Q q 0 0 0 rg BT 244.71 364.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 265.19 364.57 Td (National ) Tj ET Q q 0 0 0 rg BT 301.94 364.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 354.64 364.57 Td (as ) Tj ET Q q 0 0 0 rg BT 365.94 364.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 408.14 364.57 Td (T) Tj ET Q q 0 0 0 rg BT 413.89 364.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 440.75 364.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 497.59 364.57 Td (by ) Tj ET Q q 0 0 0 rg BT 510.56 364.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 550.72 364.57 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 354.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 152.44 354.57 Td (10.2 ) Tj ET Q q 0 0 0 rg BT 172.44 354.57 Td (of ) Tj ET Q q 0 0 0 rg BT 183.27 354.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 207.44 354.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 225.50 354.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 246.32 354.57 Td (by ) Tj ET Q q 0 0 0 rg BT 258.82 354.57 Td (the ) Tj ET Q q 0 0 0 rg BT 273.54 354.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 314.92 354.57 Td (on ) Tj ET Q q 0 0 0 rg BT 327.42 354.57 Td (May ) Tj ET Q q 0 0 0 rg BT 348.25 354.57 Td (1) Tj ET Q q 0 0 0 rg BT 352.88 354.57 Td (1, ) Tj ET Q q 0 0 0 rg BT 362.88 354.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 387.88 354.57 Td (File ) Tj ET Q q 0 0 0 rg BT 405.94 354.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 423.16 354.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 329.57 Td (10\(n\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 329.57 Td (Priority ) Tj ET Q q 0 0 0 rg BT 153.28 329.57 Td (Confirmation ) Tj ET Q q 0 0 0 rg BT 209.39 329.57 Td (Joinder) Tj ET Q q 0 0 0 rg BT 238.43 329.57 Td (, ) Tj ET Q q 0 0 0 rg BT 243.16 329.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 267.04 329.57 Td (as ) Tj ET Q q 0 0 0 rg BT 277.59 329.57 Td (of ) Tj ET Q q 0 0 0 rg BT 288.15 329.57 Td (December ) Tj ET Q q 0 0 0 rg BT 331.46 329.57 Td (6, ) Tj ET Q q 0 0 0 rg BT 341.19 329.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 365.92 329.57 Td (by ) Tj ET Q q 0 0 0 rg BT 378.14 329.57 Td (and ) Tj ET Q q 0 0 0 rg BT 394.81 329.57 Td (between ) Tj ET Q q 0 0 0 rg BT 430.35 329.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 456.84 329.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 473.51 329.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 500.17 329.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 526.01 329.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 550.18 329.57 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 319.57 Td (Priority ) Tj ET Q q 0 0 0 rg BT 155.57 319.57 Td (Lien ) Tj ET Q q 0 0 0 rg BT 177.41 319.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 208.85 319.57 Td (and ) Tj ET Q q 0 0 0 rg BT 227.48 319.57 Td (W) Tj ET Q q 0 0 0 rg BT 236.52 319.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 279.59 319.57 Td (T) Tj ET Q q 0 0 0 rg BT 285.35 319.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 307.36 319.57 Td (National ) Tj ET Q q 0 0 0 rg BT 345.31 319.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 399.53 319.57 Td (as ) Tj ET Q q 0 0 0 rg BT 412.37 319.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 455.98 319.57 Td (T) Tj ET Q q 0 0 0 rg BT 461.74 319.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 490.13 319.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 548.50 319.57 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 309.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 160.18 309.57 Td (to ) Tj ET Q q 0 0 0 rg BT 170.46 309.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 202.40 309.57 Td (10.2 ) Tj ET Q q 0 0 0 rg BT 222.40 309.57 Td (of ) Tj ET Q q 0 0 0 rg BT 233.23 309.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 257.40 309.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 275.46 309.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 296.28 309.57 Td (by ) Tj ET Q q 0 0 0 rg BT 308.78 309.57 Td (the ) Tj ET Q q 0 0 0 rg BT 323.50 309.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 364.88 309.57 Td (on ) Tj ET Q q 0 0 0 rg BT 377.38 309.57 Td (December ) Tj ET Q q 0 0 0 rg BT 420.97 309.57 Td (12, ) Tj ET Q q 0 0 0 rg BT 435.97 309.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 460.97 309.57 Td (File ) Tj ET Q q 0 0 0 rg BT 479.03 309.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 496.25 309.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 284.57 Td (10\(o\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 284.57 Td (Priority ) Tj ET Q q 0 0 0 rg BT 153.77 284.57 Td (Confirmation ) Tj ET Q q 0 0 0 rg BT 210.37 284.57 Td (Joinder) Tj ET Q q 0 0 0 rg BT 239.40 284.57 Td (, ) Tj ET Q q 0 0 0 rg BT 244.62 284.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 268.99 284.57 Td (as ) Tj ET Q q 0 0 0 rg BT 280.03 284.57 Td (of ) Tj ET Q q 0 0 0 rg BT 290.48 284.57 Td (August ) Tj ET Q q 0 0 0 rg BT 322.08 284.57 Td (21, ) Tj ET Q q 0 0 0 rg BT 337.30 284.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 362.51 284.57 Td (by ) Tj ET Q q 0 0 0 rg BT 375.22 284.57 Td (and ) Tj ET Q q 0 0 0 rg BT 392.38 284.57 Td (between ) Tj ET Q q 0 0 0 rg BT 428.40 284.57 Td (JPMor) Tj ET Q q 0 0 0 rg BT 454.90 284.57 Td (gan ) Tj ET Q q 0 0 0 rg BT 472.05 284.57 Td (Chase ) Tj ET Q q 0 0 0 rg BT 499.20 284.57 Td (Bank, ) Tj ET Q q 0 0 0 rg BT 525.53 284.57 Td (N.A., ) Tj ET Q q 0 0 0 rg BT 550.18 284.57 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 274.57 Td (Priority ) Tj ET Q q 0 0 0 rg BT 155.57 274.57 Td (Lien ) Tj ET Q q 0 0 0 rg BT 177.41 274.57 Td (Agent, ) Tj ET Q q 0 0 0 rg BT 208.85 274.57 Td (and ) Tj ET Q q 0 0 0 rg BT 227.48 274.57 Td (W) Tj ET Q q 0 0 0 rg BT 236.52 274.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 279.59 274.57 Td (T) Tj ET Q q 0 0 0 rg BT 285.35 274.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 307.36 274.57 Td (National ) Tj ET Q q 0 0 0 rg BT 345.31 274.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 399.53 274.57 Td (as ) Tj ET Q q 0 0 0 rg BT 412.37 274.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 455.98 274.57 Td (T) Tj ET Q q 0 0 0 rg BT 461.74 274.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 490.13 274.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 548.50 274.57 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 264.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 160.18 264.57 Td (to ) Tj ET Q q 0 0 0 rg BT 170.46 264.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 202.40 264.57 Td (10.2 ) Tj ET Q q 0 0 0 rg BT 222.40 264.57 Td (of ) Tj ET Q q 0 0 0 rg BT 233.23 264.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 257.40 264.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 275.46 264.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 296.28 264.57 Td (by ) Tj ET Q q 0 0 0 rg BT 308.78 264.57 Td (the ) Tj ET Q q 0 0 0 rg BT 323.50 264.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 364.88 264.57 Td (on ) Tj ET Q q 0 0 0 rg BT 376.83 264.57 Td (August ) Tj ET Q q 0 0 0 rg BT 408.22 264.57 Td (22, ) Tj ET Q q 0 0 0 rg BT 423.22 264.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 448.22 264.57 Td (File ) Tj ET Q q 0 0 0 rg BT 466.28 264.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 483.50 264.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 229.57 Td (10\(p\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 229.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 162.45 229.57 Td (T) Tj ET Q q 0 0 0 rg BT 168.21 229.57 Td (rust ) Tj ET Q q 0 0 0 rg BT 185.93 229.57 Td (Joinder) Tj ET Q q 0 0 0 rg BT 214.97 229.57 Td (, ) Tj ET Q q 0 0 0 rg BT 220.19 229.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 244.57 229.57 Td (as ) Tj ET Q q 0 0 0 rg BT 255.62 229.57 Td (of ) Tj ET Q q 0 0 0 rg BT 266.67 229.57 Td (January ) Tj ET Q q 0 0 0 rg BT 300.49 229.57 Td (9, ) Tj ET Q q 0 0 0 rg BT 310.71 229.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 335.93 229.57 Td (among ) Tj ET Q q 0 0 0 rg BT 365.87 229.57 Td (the ) Tj ET Q q 0 0 0 rg BT 380.81 229.57 Td (Company) Tj ET Q q 0 0 0 rg BT 419.04 229.57 Td (, ) Tj ET Q q 0 0 0 rg BT 424.27 229.57 Td (the ) Tj ET Q q 0 0 0 rg BT 439.20 229.57 Td (Subsidiary ) Tj ET Q q 0 0 0 rg BT 484.70 229.57 Td (Guarantors ) Tj ET Q q 0 0 0 rg BT 531.85 229.57 Td (named ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 219.57 Td (therein, ) Tj ET Q q 0 0 0 rg BT 153.22 219.57 Td (W) Tj ET Q q 0 0 0 rg BT 162.26 219.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 203.60 219.57 Td (T) Tj ET Q q 0 0 0 rg BT 209.36 219.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 229.51 219.57 Td (National ) Tj ET Q q 0 0 0 rg BT 266.00 219.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 318.37 219.57 Td (as ) Tj ET Q q 0 0 0 rg BT 329.15 219.57 Td (T) Tj ET Q q 0 0 0 rg BT 334.91 219.57 Td (rustee, ) Tj ET Q q 0 0 0 rg BT 363.93 219.57 Td (the ) Tj ET Q q 0 0 0 rg BT 378.79 219.57 Td (other ) Tj ET Q q 0 0 0 rg BT 401.99 219.57 Td (parity ) Tj ET Q q 0 0 0 rg BT 427.96 219.57 Td (lien ) Tj ET Q q 0 0 0 rg BT 445.60 219.57 Td (representatives ) Tj ET Q q 0 0 0 rg BT 508.22 219.57 Td (from ) Tj ET Q q 0 0 0 rg BT 530.30 219.57 Td (time ) Tj ET Q q 0 0 0 rg BT 550.72 219.57 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 209.57 Td (time ) Tj ET Q q 0 0 0 rg BT 140.16 209.57 Td (party ) Tj ET Q q 0 0 0 rg BT 162.59 209.57 Td (thereto ) Tj ET Q q 0 0 0 rg BT 192.25 209.57 Td (and ) Tj ET Q q 0 0 0 rg BT 208.44 209.57 Td (W) Tj ET Q q 0 0 0 rg BT 217.47 209.57 Td (ilmington ) Tj ET Q q 0 0 0 rg BT 258.12 209.57 Td (T) Tj ET Q q 0 0 0 rg BT 263.87 209.57 Td (rust, ) Tj ET Q q 0 0 0 rg BT 283.26 209.57 Td (National ) Tj ET Q q 0 0 0 rg BT 319.16 209.57 Td (Association, ) Tj ET Q q 0 0 0 rg BT 370.77 209.57 Td (as ) Tj ET Q q 0 0 0 rg BT 380.99 209.57 Td (Collateral ) Tj ET Q q 0 0 0 rg BT 422.17 209.57 Td (T) Tj ET Q q 0 0 0 rg BT 427.92 209.57 Td (rustee ) Tj ET Q q 0 0 0 rg BT 453.69 209.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 509.44 209.57 Td (by ) Tj ET Q q 0 0 0 rg BT 521.32 209.57 Td (reference ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 199.57 Td (to ) Tj ET Q q 0 0 0 rg BT 130.78 199.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 162.72 199.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 182.72 199.57 Td (of ) Tj ET Q q 0 0 0 rg BT 193.55 199.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 217.72 199.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 235.77 199.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 256.60 199.57 Td (by ) Tj ET Q q 0 0 0 rg BT 269.10 199.57 Td (the ) Tj ET Q q 0 0 0 rg BT 283.82 199.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 325.20 199.57 Td (on ) Tj ET Q q 0 0 0 rg BT 337.70 199.57 Td (January ) Tj ET Q q 0 0 0 rg BT 371.30 199.57 Td (1) Tj ET Q q 0 0 0 rg BT 375.93 199.57 Td (1, ) Tj ET Q q 0 0 0 rg BT 385.93 199.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 410.93 199.57 Td (File ) Tj ET Q q 0 0 0 rg BT 428.99 199.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 446.21 199.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 174.57 Td (10\(q\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 174.57 Td (Pipeline ) Tj ET Q q 0 0 0 rg BT 155.35 174.57 Td (Financing ) Tj ET Q q 0 0 0 rg BT 197.43 174.57 Td (Lease ) Tj ET Q q 0 0 0 rg BT 222.37 174.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 271.37 174.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 295.11 174.57 Td (as ) Tj ET Q q 0 0 0 rg BT 305.52 174.57 Td (of ) Tj ET Q q 0 0 0 rg BT 315.93 174.57 Td (May ) Tj ET Q q 0 0 0 rg BT 336.35 174.57 Td (30, ) Tj ET Q q 0 0 0 rg BT 350.93 174.57 Td (2008, ) Tj ET Q q 0 0 0 rg BT 375.51 174.57 Td (by ) Tj ET Q q 0 0 0 rg BT 387.59 174.57 Td (and ) Tj ET Q q 0 0 0 rg BT 404.11 174.57 Td (between ) Tj ET Q q 0 0 0 rg BT 439.51 174.57 Td (Genesis ) Tj ET Q q 0 0 0 rg BT 473.25 174.57 Td (NEJD ) Tj ET Q q 0 0 0 rg BT 499.77 174.57 Td (Pipeline, ) Tj ET Q q 0 0 0 rg BT 537.13 174.57 Td (LLC, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 164.57 Td (as ) Tj ET Q q 0 0 0 rg BT 131.10 164.57 Td (Lessor) Tj ET Q q 0 0 0 rg BT 157.36 164.57 Td (, ) Tj ET Q q 0 0 0 rg BT 162.12 164.57 Td (and ) Tj ET Q q 0 0 0 rg BT 178.83 164.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 216.09 164.57 Td (Onshore, ) Tj ET Q q 0 0 0 rg BT 254.74 164.57 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 278.39 164.57 Td (as ) Tj ET Q q 0 0 0 rg BT 288.99 164.57 Td (Lessee ) Tj ET Q q 0 0 0 rg BT 318.46 164.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 374.59 164.57 Td (by ) Tj ET Q q 0 0 0 rg BT 386.86 164.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 426.31 164.57 Td (to ) Tj ET Q q 0 0 0 rg BT 436.35 164.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 468.06 164.57 Td (99.1 ) Tj ET Q q 0 0 0 rg BT 487.83 164.57 Td (of ) Tj ET Q q 0 0 0 rg BT 498.43 164.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 522.36 164.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 540.18 164.57 Td (filed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 154.57 Td (by ) Tj ET Q q 0 0 0 rg BT 133.00 154.57 Td (the ) Tj ET Q q 0 0 0 rg BT 147.72 154.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 189.10 154.57 Td (on ) Tj ET Q q 0 0 0 rg BT 201.60 154.57 Td (June ) Tj ET Q q 0 0 0 rg BT 222.43 154.57 Td (5, ) Tj ET Q q 0 0 0 rg BT 232.43 154.57 Td (2008, ) Tj ET Q q 0 0 0 rg BT 257.43 154.57 Td (File ) Tj ET Q q 0 0 0 rg BT 275.49 154.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 292.71 154.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 129.57 Td (10\(r\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 129.57 Td (T) Tj ET Q q 0 0 0 rg BT 126.26 129.57 Td (ransportation ) Tj ET Q q 0 0 0 rg BT 182.04 129.57 Td (Services ) Tj ET Q q 0 0 0 rg BT 218.26 129.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 268.21 129.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 292.88 129.57 Td (as ) Tj ET Q q 0 0 0 rg BT 304.22 129.57 Td (of ) Tj ET Q q 0 0 0 rg BT 315.57 129.57 Td (May ) Tj ET Q q 0 0 0 rg BT 336.92 129.57 Td (30, ) Tj ET Q q 0 0 0 rg BT 352.43 129.57 Td (2008, ) Tj ET Q q 0 0 0 rg BT 377.95 129.57 Td (by ) Tj ET Q q 0 0 0 rg BT 390.97 129.57 Td (and ) Tj ET Q q 0 0 0 rg BT 408.42 129.57 Td (between ) Tj ET Q q 0 0 0 rg BT 444.75 129.57 Td (Genesis ) Tj ET Q q 0 0 0 rg BT 479.43 129.57 Td (Free ) Tj ET Q q 0 0 0 rg BT 500.22 129.57 Td (State ) Tj ET Q q 0 0 0 rg BT 523.23 129.57 Td (Pipeline, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 119.57 Td (LLC ) Tj ET Q q 0 0 0 rg BT 141.37 119.57 Td (and ) Tj ET Q q 0 0 0 rg BT 157.79 119.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 194.76 119.57 Td (Onshore, ) Tj ET Q q 0 0 0 rg BT 233.12 119.57 Td (LLC ) Tj ET Q q 0 0 0 rg BT 253.99 119.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 309.83 119.57 Td (by ) Tj ET Q q 0 0 0 rg BT 321.82 119.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 360.98 119.57 Td (to ) Tj ET Q q 0 0 0 rg BT 370.74 119.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 402.17 119.57 Td (99.2 ) Tj ET Q q 0 0 0 rg BT 421.65 119.57 Td (of ) Tj ET Q q 0 0 0 rg BT 431.96 119.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 455.61 119.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 473.14 119.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 493.45 119.57 Td (by ) Tj ET Q q 0 0 0 rg BT 505.43 119.57 Td (the ) Tj ET Q q 0 0 0 rg BT 519.63 119.57 Td (Company ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 109.57 Td (on ) Tj ET Q q 0 0 0 rg BT 133.00 109.57 Td (June ) Tj ET Q q 0 0 0 rg BT 153.83 109.57 Td (5, ) Tj ET Q q 0 0 0 rg BT 163.83 109.57 Td (2008, ) Tj ET Q q 0 0 0 rg BT 188.83 109.57 Td (File ) Tj ET Q q 0 0 0 rg BT 206.89 109.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 224.11 109.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 219 0 obj <> endobj 220 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.50 30.60 Td (109) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 719 m 114 719 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 118 719 m 562 719 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 723.68 Td (Exhibit No.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.50 723.68 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 709.57 Td (10\(s\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 709.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 145.40 709.57 Td (of ) Tj ET Q q 0 0 0 rg BT 156.95 709.57 Td (Indemnification ) Tj ET Q q 0 0 0 rg BT 223.33 709.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 273.48 709.57 Td (by ) Tj ET Q q 0 0 0 rg BT 286.70 709.57 Td (and ) Tj ET Q q 0 0 0 rg BT 304.37 709.57 Td (between ) Tj ET Q q 0 0 0 rg BT 340.91 709.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 379.12 709.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 423.45 709.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 441.94 709.57 Td (and ) Tj ET Q q 0 0 0 rg BT 459.60 709.57 Td (its ) Tj ET Q q 0 0 0 rg BT 472.28 709.57 Td (of) Tj ET Q q 0 0 0 rg BT 480.43 709.57 Td (ficers ) Tj ET Q q 0 0 0 rg BT 505.86 709.57 Td (and ) Tj ET Q q 0 0 0 rg BT 523.52 709.57 Td (directors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 699.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 176.37 699.57 Td (by ) Tj ET Q q 0 0 0 rg BT 188.38 699.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 227.57 699.57 Td (to ) Tj ET Q q 0 0 0 rg BT 237.36 699.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 268.81 699.57 Td (10\(a\) ) Tj ET Q q 0 0 0 rg BT 291.92 699.57 Td (of ) Tj ET Q q 0 0 0 rg BT 302.26 699.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 325.94 699.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 348.50 699.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 368.83 699.57 Td (by ) Tj ET Q q 0 0 0 rg BT 380.84 699.57 Td (the ) Tj ET Q q 0 0 0 rg BT 395.07 699.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 435.97 699.57 Td (on ) Tj ET Q q 0 0 0 rg BT 447.98 699.57 Td (November ) Tj ET Q q 0 0 0 rg BT 492.19 699.57 Td (7, ) Tj ET Q q 0 0 0 rg BT 501.70 699.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 526.21 699.57 Td (File ) Tj ET Q q 0 0 0 rg BT 543.78 699.57 Td (No. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 689.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 664.57 Td (10\(t\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 664.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 159.98 664.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 205.56 664.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 225.32 664.57 Td (Director ) Tj ET Q q 0 0 0 rg BT 263.12 664.57 Td (Deferred ) Tj ET Q q 0 0 0 rg BT 303.14 664.57 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 365.40 664.57 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 390.17 664.57 Td (as ) Tj ET Q q 0 0 0 rg BT 402.98 664.57 Td (amended ) Tj ET Q q 0 0 0 rg BT 443.57 664.57 Td (and ) Tj ET Q q 0 0 0 rg BT 462.49 664.57 Td (restated ) Tj ET Q q 0 0 0 rg BT 498.07 664.57 Td (ef) Tj ET Q q 0 0 0 rg BT 505.66 664.57 Td (fective ) Tj ET Q q 0 0 0 rg BT 537.35 664.57 Td (as ) Tj ET Q q 0 0 0 rg BT 550.17 664.57 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 654.57 Td (December ) Tj ET Q q 0 0 0 rg BT 163.39 654.57 Td (16, ) Tj ET Q q 0 0 0 rg BT 177.69 654.57 Td (2015 ) Tj ET Q q 0 0 0 rg BT 199.49 654.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 255.15 654.57 Td (by ) Tj ET Q q 0 0 0 rg BT 266.96 654.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 305.94 654.57 Td (to ) Tj ET Q q 0 0 0 rg BT 315.52 654.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 346.76 654.57 Td (10\(i\) ) Tj ET Q q 0 0 0 rg BT 368.00 654.57 Td (of ) Tj ET Q q 0 0 0 rg BT 378.14 654.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 401.61 654.57 Td (10-K ) Tj ET Q q 0 0 0 rg BT 423.96 654.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 444.09 654.57 Td (by ) Tj ET Q q 0 0 0 rg BT 455.89 654.57 Td (the ) Tj ET Q q 0 0 0 rg BT 469.91 654.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 510.60 654.57 Td (on ) Tj ET Q q 0 0 0 rg BT 522.40 654.57 Td (February ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 644.57 Td (26, ) Tj ET Q q 0 0 0 rg BT 135.50 644.57 Td (2016, ) Tj ET Q q 0 0 0 rg BT 160.50 644.57 Td (File ) Tj ET Q q 0 0 0 rg BT 178.56 644.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 195.78 644.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 619.57 Td (10\(u\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 619.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 158.44 619.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 202.48 619.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 220.69 619.57 Td (Severance ) Tj ET Q q 0 0 0 rg BT 264.72 619.57 Td (Protection ) Tj ET Q q 0 0 0 rg BT 308.77 619.57 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 332.00 619.57 Td (as ) Tj ET Q q 0 0 0 rg BT 343.27 619.57 Td (amended ) Tj ET Q q 0 0 0 rg BT 382.31 619.57 Td (and ) Tj ET Q q 0 0 0 rg BT 399.70 619.57 Td (restated ) Tj ET Q q 0 0 0 rg BT 433.74 619.57 Td (ef) Tj ET Q q 0 0 0 rg BT 441.33 619.57 Td (fective ) Tj ET Q q 0 0 0 rg BT 471.47 619.57 Td (as ) Tj ET Q q 0 0 0 rg BT 482.75 619.57 Td (of ) Tj ET Q q 0 0 0 rg BT 494.02 619.57 Td (March ) Tj ET Q q 0 0 0 rg BT 523.07 619.57 Td (29, ) Tj ET Q q 0 0 0 rg BT 538.52 619.57 Td (2018 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 609.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 177.42 609.57 Td (by ) Tj ET Q q 0 0 0 rg BT 190.48 609.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 230.72 609.57 Td (to ) Tj ET Q q 0 0 0 rg BT 241.56 609.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 274.06 609.57 Td (10\(a\) ) Tj ET Q q 0 0 0 rg BT 298.21 609.57 Td (of ) Tj ET Q q 0 0 0 rg BT 309.60 609.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 334.33 609.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 357.94 609.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 379.32 609.57 Td (by ) Tj ET Q q 0 0 0 rg BT 392.38 609.57 Td (the ) Tj ET Q q 0 0 0 rg BT 407.66 609.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 449.60 609.57 Td (on ) Tj ET Q q 0 0 0 rg BT 462.66 609.57 Td (May ) Tj ET Q q 0 0 0 rg BT 484.05 609.57 Td (10, ) Tj ET Q q 0 0 0 rg BT 499.61 609.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 525.16 609.57 Td (File ) Tj ET Q q 0 0 0 rg BT 543.78 609.57 Td (No. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 599.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 574.57 Td (10\(v\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 574.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 157.23 574.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 200.06 574.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 217.06 574.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 238.80 574.57 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 277.21 574.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 301.72 574.57 Td (and ) Tj ET Q q 0 0 0 rg BT 317.90 574.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 356.83 574.57 Td (Plan, ) Tj ET Q q 0 0 0 rg BT 378.85 574.57 Td (as ) Tj ET Q q 0 0 0 rg BT 388.91 574.57 Td (amended ) Tj ET Q q 0 0 0 rg BT 426.74 574.57 Td (and ) Tj ET Q q 0 0 0 rg BT 442.92 574.57 Td (restated ) Tj ET Q q 0 0 0 rg BT 475.75 574.57 Td (ef) Tj ET Q q 0 0 0 rg BT 483.33 574.57 Td (fective ) Tj ET Q q 0 0 0 rg BT 512.27 574.57 Td (as ) Tj ET Q q 0 0 0 rg BT 522.34 574.57 Td (of ) Tj ET Q q 0 0 0 rg BT 532.40 574.57 Td (March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 564.57 Td (29, ) Tj ET Q q 0 0 0 rg BT 135.90 564.57 Td (2018 ) Tj ET Q q 0 0 0 rg BT 158.81 564.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 215.58 564.57 Td (by ) Tj ET Q q 0 0 0 rg BT 228.48 564.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 268.57 564.57 Td (to ) Tj ET Q q 0 0 0 rg BT 279.25 564.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 311.60 564.57 Td (10\(b\) ) Tj ET Q q 0 0 0 rg BT 336.16 564.57 Td (of ) Tj ET Q q 0 0 0 rg BT 347.40 564.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 371.97 564.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 395.43 564.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 416.66 564.57 Td (by ) Tj ET Q q 0 0 0 rg BT 429.56 564.57 Td (the ) Tj ET Q q 0 0 0 rg BT 444.68 564.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 486.47 564.57 Td (on ) Tj ET Q q 0 0 0 rg BT 499.38 564.57 Td (May ) Tj ET Q q 0 0 0 rg BT 520.61 564.57 Td (10, ) Tj ET Q q 0 0 0 rg BT 536.01 564.57 Td (2018, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 554.57 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 554.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 554.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 529.57 Td (10\(w\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 529.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 142.02 529.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 165.21 529.57 Td (of ) Tj ET Q q 0 0 0 rg BT 175.05 529.57 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 217.11 529.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 241.07 529.57 Td (A) Tj ET Q q 0 0 0 rg BT 247.38 529.57 Td (ward ) Tj ET Q q 0 0 0 rg BT 268.88 529.57 Td (that ) Tj ET Q q 0 0 0 rg BT 285.40 529.57 Td (vests ) Tj ET Q q 0 0 0 rg BT 306.92 529.57 Td (on ) Tj ET Q q 0 0 0 rg BT 318.43 529.57 Td (retirement ) Tj ET Q q 0 0 0 rg BT 361.04 529.57 Td (for ) Tj ET Q q 0 0 0 rg BT 374.22 529.57 Td (grants ) Tj ET Q q 0 0 0 rg BT 400.17 529.57 Td (to ) Tj ET Q q 0 0 0 rg BT 409.47 529.57 Td (of) Tj ET Q q 0 0 0 rg BT 417.62 529.57 Td (ficers ) Tj ET Q q 0 0 0 rg BT 441.34 529.57 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 477.30 529.57 Td (to ) Tj ET Q q 0 0 0 rg BT 486.59 529.57 Td (the ) Tj ET Q q 0 0 0 rg BT 500.33 529.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 521.85 529.57 Td (Omnibus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 519.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 145.89 519.57 Td (and ) Tj ET Q q 0 0 0 rg BT 162.94 519.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 202.75 519.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 223.14 519.57 Td (for ) Tj ET Q q 0 0 0 rg BT 237.41 519.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 275.01 519.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 318.72 519.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 336.59 519.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 393.07 519.57 Td (by ) Tj ET Q q 0 0 0 rg BT 405.68 519.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 445.47 519.57 Td (to ) Tj ET Q q 0 0 0 rg BT 455.86 519.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 487.91 519.57 Td (10\(l\) ) Tj ET Q q 0 0 0 rg BT 509.96 519.57 Td (of ) Tj ET Q q 0 0 0 rg BT 520.90 519.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 545.18 519.57 Td (10-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 509.57 Td (K ) Tj ET Q q 0 0 0 rg BT 130.22 509.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 151.05 509.57 Td (by ) Tj ET Q q 0 0 0 rg BT 163.55 509.57 Td (the ) Tj ET Q q 0 0 0 rg BT 178.26 509.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 219.65 509.57 Td (on ) Tj ET Q q 0 0 0 rg BT 232.15 509.57 Td (March ) Tj ET Q q 0 0 0 rg BT 260.75 509.57 Td (15, ) Tj ET Q q 0 0 0 rg BT 275.75 509.57 Td (2005, ) Tj ET Q q 0 0 0 rg BT 300.75 509.57 Td (File ) Tj ET Q q 0 0 0 rg BT 318.81 509.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 336.03 509.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 484.57 Td (10\(x\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 484.57 Td (2016 ) Tj ET Q q 0 0 0 rg BT 142.66 484.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 166.49 484.57 Td (of ) Tj ET Q q 0 0 0 rg BT 176.83 484.57 Td (TSR ) Tj ET Q q 0 0 0 rg BT 197.33 484.57 Td (Performance ) Tj ET Q q 0 0 0 rg BT 250.10 484.57 Td (A) Tj ET Q q 0 0 0 rg BT 256.40 484.57 Td (ward-Equity ) Tj ET Q q 0 0 0 rg BT 308.55 484.57 Td (under ) Tj ET Q q 0 0 0 rg BT 333.48 484.57 Td (the ) Tj ET Q q 0 0 0 rg BT 347.86 484.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 370.02 484.57 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 408.86 484.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 433.80 484.57 Td (and ) Tj ET Q q 0 0 0 rg BT 450.40 484.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 489.76 484.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 509.70 484.57 Td (for ) Tj ET Q q 0 0 0 rg BT 523.52 484.57 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 474.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 163.49 474.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 180.64 474.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 236.39 474.57 Td (by ) Tj ET Q q 0 0 0 rg BT 248.28 474.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 287.35 474.57 Td (to ) Tj ET Q q 0 0 0 rg BT 297.01 474.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 328.34 474.57 Td (10\(a\) ) Tj ET Q q 0 0 0 rg BT 351.33 474.57 Td (of ) Tj ET Q q 0 0 0 rg BT 361.55 474.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 385.10 474.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 407.54 474.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 427.76 474.57 Td (by ) Tj ET Q q 0 0 0 rg BT 439.64 474.57 Td (the ) Tj ET Q q 0 0 0 rg BT 453.75 474.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 494.52 474.57 Td (on ) Tj ET Q q 0 0 0 rg BT 506.41 474.57 Td (May ) Tj ET Q q 0 0 0 rg BT 526.63 474.57 Td (6, ) Tj ET Q q 0 0 0 rg BT 536.01 474.57 Td (2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 464.57 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 464.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 464.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 439.57 Td (10\(y\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 439.57 Td (2016 ) Tj ET Q q 0 0 0 rg BT 143.11 439.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 167.40 439.57 Td (of ) Tj ET Q q 0 0 0 rg BT 178.16 439.57 Td (TSR ) Tj ET Q q 0 0 0 rg BT 199.11 439.57 Td (Performance ) Tj ET Q q 0 0 0 rg BT 252.23 439.57 Td (A) Tj ET Q q 0 0 0 rg BT 258.54 439.57 Td (ward-Cash ) Tj ET Q q 0 0 0 rg BT 304.47 439.57 Td (under ) Tj ET Q q 0 0 0 rg BT 329.85 439.57 Td (the ) Tj ET Q q 0 0 0 rg BT 344.69 439.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 367.30 439.57 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 406.58 439.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 431.98 439.57 Td (and ) Tj ET Q q 0 0 0 rg BT 449.03 439.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 488.85 439.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 509.24 439.57 Td (for ) Tj ET Q q 0 0 0 rg BT 523.52 439.57 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 429.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 163.45 429.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 180.58 429.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 236.30 429.57 Td (by ) Tj ET Q q 0 0 0 rg BT 248.15 429.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 287.19 429.57 Td (to ) Tj ET Q q 0 0 0 rg BT 296.82 429.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 328.12 429.57 Td (10\(b\) ) Tj ET Q q 0 0 0 rg BT 351.64 429.57 Td (of ) Tj ET Q q 0 0 0 rg BT 361.82 429.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 385.35 429.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 407.76 429.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 427.94 429.57 Td (by ) Tj ET Q q 0 0 0 rg BT 439.79 429.57 Td (the ) Tj ET Q q 0 0 0 rg BT 453.86 429.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 494.61 429.57 Td (on ) Tj ET Q q 0 0 0 rg BT 506.46 429.57 Td (May ) Tj ET Q q 0 0 0 rg BT 526.65 429.57 Td (6, ) Tj ET Q q 0 0 0 rg BT 536.00 429.57 Td (2016, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 419.57 Td (File ) Tj ET Q q 0 0 0 rg BT 138.56 419.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 155.78 419.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 394.57 Td (10\(z\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 394.57 Td (2016 ) Tj ET Q q 0 0 0 rg BT 143.49 394.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 168.16 394.57 Td (of ) Tj ET Q q 0 0 0 rg BT 179.48 394.57 Td (EBITDAX ) Tj ET Q q 0 0 0 rg BT 226.35 394.57 Td (Performance ) Tj ET Q q 0 0 0 rg BT 279.77 394.57 Td (A) Tj ET Q q 0 0 0 rg BT 286.07 394.57 Td (ward-Equity ) Tj ET Q q 0 0 0 rg BT 339.05 394.57 Td (under ) Tj ET Q q 0 0 0 rg BT 364.81 394.57 Td (the ) Tj ET Q q 0 0 0 rg BT 380.02 394.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 403.02 394.57 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 442.68 394.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 468.45 394.57 Td (and ) Tj ET Q q 0 0 0 rg BT 485.88 394.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 526.08 394.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 546.85 394.57 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 384.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 157.75 384.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 201.11 384.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 218.64 384.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 274.77 384.57 Td (by ) Tj ET Q q 0 0 0 rg BT 287.03 384.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 326.48 384.57 Td (to ) Tj ET Q q 0 0 0 rg BT 336.52 384.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 368.22 384.57 Td (10\(mm\) ) Tj ET Q q 0 0 0 rg BT 402.70 384.57 Td (of ) Tj ET Q q 0 0 0 rg BT 413.29 384.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 437.23 384.57 Td (10-K ) Tj ET Q q 0 0 0 rg BT 460.04 384.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 480.63 384.57 Td (by ) Tj ET Q q 0 0 0 rg BT 492.89 384.57 Td (the ) Tj ET Q q 0 0 0 rg BT 507.37 384.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 548.52 384.57 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 374.57 Td (March ) Tj ET Q q 0 0 0 rg BT 149.10 374.57 Td (1, ) Tj ET Q q 0 0 0 rg BT 159.10 374.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 184.10 374.57 Td (File ) Tj ET Q q 0 0 0 rg BT 202.16 374.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 219.38 374.57 Td (001-12935\).) 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Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 394.57 Td (10\(nn\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 394.57 Td (2017 ) Tj ET Q q 0 0 0 rg BT 143.89 394.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 168.95 394.57 Td (of ) Tj ET Q q 0 0 0 rg BT 180.67 394.57 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 224.61 394.57 Td (Share ) Tj ET Q q 0 0 0 rg BT 250.02 394.57 Td (A) Tj ET Q q 0 0 0 rg BT 256.32 394.57 Td (ward ) Tj ET Q q 0 0 0 rg BT 279.70 394.57 Td (to ) Tj ET Q q 0 0 0 rg BT 290.87 394.57 Td (non-employee ) Tj ET Q q 0 0 0 rg BT 351.47 394.57 Td (directors ) Tj ET Q q 0 0 0 rg BT 389.84 394.57 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 427.67 394.57 Td (to ) Tj ET Q q 0 0 0 rg BT 438.84 394.57 Td (the ) Tj ET Q q 0 0 0 rg BT 454.45 394.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 477.84 394.57 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 517.90 394.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 544.07 394.57 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 384.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 160.31 384.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 180.70 384.57 Td (for ) Tj ET Q q 0 0 0 rg BT 194.97 384.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 232.57 384.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 276.28 384.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 294.16 384.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 350.63 384.57 Td (by ) Tj ET Q q 0 0 0 rg BT 363.24 384.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 403.03 384.57 Td (to ) Tj ET Q q 0 0 0 rg BT 413.42 384.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 445.47 384.57 Td (10\(c\) ) Tj ET Q q 0 0 0 rg BT 469.18 384.57 Td (of ) Tj ET Q q 0 0 0 rg BT 480.12 384.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 504.40 384.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 527.56 384.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 548.50 384.57 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 374.57 Td (the ) Tj ET Q q 0 0 0 rg BT 135.22 374.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 176.60 374.57 Td (on ) Tj ET Q q 0 0 0 rg BT 188.55 374.57 Td (August ) Tj ET Q q 0 0 0 rg BT 219.94 374.57 Td (8, ) Tj ET Q q 0 0 0 rg BT 229.94 374.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 254.94 374.57 Td (File ) Tj ET Q q 0 0 0 rg BT 273.00 374.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 290.22 374.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 349.57 Td (10\(oo\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 349.57 Td (2018 ) Tj ET Q q 0 0 0 rg BT 143.11 349.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 167.40 349.57 Td (of ) Tj ET Q q 0 0 0 rg BT 178.16 349.57 Td (TSR ) Tj ET Q q 0 0 0 rg BT 199.11 349.57 Td (Performance ) Tj ET Q q 0 0 0 rg BT 252.23 349.57 Td (A) Tj ET Q q 0 0 0 rg BT 258.54 349.57 Td (ward-Cash ) Tj ET Q q 0 0 0 rg BT 304.47 349.57 Td (under ) Tj ET Q q 0 0 0 rg BT 329.85 349.57 Td (the ) Tj ET Q q 0 0 0 rg BT 344.69 349.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 367.30 349.57 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 406.58 349.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 431.98 349.57 Td (and ) Tj ET Q q 0 0 0 rg BT 449.03 349.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 488.85 349.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 509.24 349.57 Td (for ) Tj ET Q q 0 0 0 rg BT 523.52 349.57 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 339.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 164.63 339.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 182.92 339.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 239.81 339.57 Td (by ) Tj ET Q q 0 0 0 rg BT 252.84 339.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 293.05 339.57 Td (to ) Tj ET Q q 0 0 0 rg BT 303.85 339.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 336.33 339.57 Td (10\(c\) ) Tj ET Q q 0 0 0 rg BT 360.45 339.57 Td (of ) Tj ET Q q 0 0 0 rg BT 371.81 339.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 396.51 339.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 420.08 339.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 441.44 339.57 Td (by ) Tj ET Q q 0 0 0 rg BT 454.46 339.57 Td (the ) Tj ET Q q 0 0 0 rg BT 469.71 339.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 511.62 339.57 Td (on ) Tj ET Q q 0 0 0 rg BT 524.65 339.57 Td (May ) Tj ET Q q 0 0 0 rg BT 546.01 339.57 Td (10, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 329.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 145.50 329.57 Td (File ) Tj ET Q q 0 0 0 rg BT 163.56 329.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 180.78 329.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 304.57 Td (10\(pp\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 304.57 Td (2018 ) Tj ET Q q 0 0 0 rg BT 142.66 304.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 166.49 304.57 Td (of ) Tj ET Q q 0 0 0 rg BT 176.83 304.57 Td (TSR ) Tj ET Q q 0 0 0 rg BT 197.33 304.57 Td (Performance ) Tj ET Q q 0 0 0 rg BT 250.10 304.57 Td (A) Tj ET Q q 0 0 0 rg BT 256.40 304.57 Td (ward-Equity ) Tj ET Q q 0 0 0 rg BT 308.55 304.57 Td (under ) Tj ET Q q 0 0 0 rg BT 333.48 304.57 Td (the ) Tj ET Q q 0 0 0 rg BT 347.86 304.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 370.02 304.57 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 408.86 304.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 433.80 304.57 Td (and ) Tj ET Q q 0 0 0 rg BT 450.40 304.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 489.76 304.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 509.70 304.57 Td (for ) Tj ET Q q 0 0 0 rg BT 523.52 304.57 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 294.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 164.59 294.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 182.86 294.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 239.71 294.57 Td (by ) Tj ET Q q 0 0 0 rg BT 252.71 294.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 292.89 294.57 Td (to ) Tj ET Q q 0 0 0 rg BT 303.66 294.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 336.10 294.57 Td (10\(d\) ) Tj ET Q q 0 0 0 rg BT 360.75 294.57 Td (of ) Tj ET Q q 0 0 0 rg BT 372.08 294.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 396.74 294.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 420.29 294.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 441.61 294.57 Td (by ) Tj ET Q q 0 0 0 rg BT 454.60 294.57 Td (the ) Tj ET Q q 0 0 0 rg BT 469.81 294.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 511.69 294.57 Td (on ) Tj ET Q q 0 0 0 rg BT 524.69 294.57 Td (May ) Tj ET Q q 0 0 0 rg BT 546.01 294.57 Td (10, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 284.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 145.50 284.57 Td (File ) Tj ET Q q 0 0 0 rg BT 163.56 284.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 180.78 284.57 Td (001-12935\).) 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Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 214.57 Td (10\(rr\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 214.57 Td (2018 ) Tj ET Q q 0 0 0 rg BT 142.64 214.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 166.45 214.57 Td (of ) Tj ET Q q 0 0 0 rg BT 176.92 214.57 Td (Debt-Adjusted ) Tj ET Q q 0 0 0 rg BT 237.94 214.57 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 276.18 214.57 Td (Growth ) Tj ET Q q 0 0 0 rg BT 308.87 214.57 Td (Per ) Tj ET Q q 0 0 0 rg BT 324.34 214.57 Td (Share ) Tj ET Q q 0 0 0 rg BT 349.25 214.57 Td (Performance ) Tj ET Q q 0 0 0 rg BT 402.00 214.57 Td (A) Tj ET Q q 0 0 0 rg BT 408.30 214.57 Td (ward-Equity ) Tj ET Q q 0 0 0 rg BT 460.43 214.57 Td (under ) Tj ET Q q 0 0 0 rg BT 485.34 214.57 Td (the ) Tj ET Q q 0 0 0 rg BT 499.69 214.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 521.83 214.57 Td (Omnibus ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 204.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 145.85 204.57 Td (and ) Tj ET Q q 0 0 0 rg BT 162.87 204.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 202.65 204.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 223.00 204.57 Td (for ) Tj ET Q q 0 0 0 rg BT 237.24 204.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 274.80 204.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 318.48 204.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 336.32 204.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 392.76 204.57 Td (by ) Tj ET Q q 0 0 0 rg BT 405.33 204.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 445.09 204.57 Td (to ) Tj ET Q q 0 0 0 rg BT 455.45 204.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 487.47 204.57 Td (10\(f\) ) Tj ET Q q 0 0 0 rg BT 510.03 204.57 Td (of ) Tj ET Q q 0 0 0 rg BT 520.94 204.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 545.18 204.57 Td (10-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 194.57 Td (Q ) Tj ET Q q 0 0 0 rg BT 130.22 194.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 151.05 194.57 Td (by ) Tj ET Q q 0 0 0 rg BT 163.55 194.57 Td (the ) Tj ET Q q 0 0 0 rg BT 178.26 194.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 219.65 194.57 Td (on ) Tj ET Q q 0 0 0 rg BT 232.15 194.57 Td (May ) Tj ET Q q 0 0 0 rg BT 252.98 194.57 Td (10, ) Tj ET Q q 0 0 0 rg BT 267.98 194.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 292.98 194.57 Td (File ) Tj ET Q q 0 0 0 rg BT 311.04 194.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 328.26 194.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 169.57 Td (10\(ss\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 169.57 Td (2018 ) Tj ET Q q 0 0 0 rg BT 143.20 169.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 167.57 169.57 Td (of ) Tj ET Q q 0 0 0 rg BT 178.60 169.57 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 221.84 169.57 Td (Share ) Tj ET Q q 0 0 0 rg BT 246.72 169.57 Td (A) Tj ET Q q 0 0 0 rg BT 253.02 169.57 Td (ward ) Tj ET Q q 0 0 0 rg BT 275.71 169.57 Td (to ) Tj ET Q q 0 0 0 rg BT 286.19 169.57 Td (of) Tj ET Q q 0 0 0 rg BT 294.34 169.57 Td (ficers ) Tj ET Q q 0 0 0 rg BT 319.25 169.57 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 356.38 169.57 Td (to ) Tj ET Q q 0 0 0 rg BT 366.86 169.57 Td (the ) Tj ET Q q 0 0 0 rg BT 381.78 169.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 404.48 169.57 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 443.85 169.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 469.33 169.57 Td (and ) Tj ET Q q 0 0 0 rg BT 486.47 169.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 526.37 169.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 546.85 169.57 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 159.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 158.45 159.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 202.50 159.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 220.73 159.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 277.55 159.57 Td (by ) Tj ET Q q 0 0 0 rg BT 290.50 159.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 330.64 159.57 Td (to ) Tj ET Q q 0 0 0 rg BT 341.38 159.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 373.78 159.57 Td (10\(a\) ) Tj ET Q q 0 0 0 rg BT 397.83 159.57 Td (of ) Tj ET Q q 0 0 0 rg BT 409.12 159.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 433.74 159.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 457.25 159.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 478.53 159.57 Td (by ) Tj ET Q q 0 0 0 rg BT 491.49 159.57 Td (the ) Tj ET Q q 0 0 0 rg BT 506.66 159.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 548.51 159.57 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 149.57 Td (August ) Tj ET Q q 0 0 0 rg BT 151.89 149.57 Td (9, ) Tj ET Q q 0 0 0 rg BT 161.89 149.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 186.89 149.57 Td (File ) Tj ET Q q 0 0 0 rg BT 204.95 149.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 222.17 149.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 124.57 Td (10\(tt\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 124.57 Td (2018 ) Tj ET Q q 0 0 0 rg BT 143.89 124.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 168.95 124.57 Td (of ) Tj ET Q q 0 0 0 rg BT 180.67 124.57 Td (Restricted ) Tj ET Q q 0 0 0 rg BT 224.61 124.57 Td (Share ) Tj ET Q q 0 0 0 rg BT 250.02 124.57 Td (A) Tj ET Q q 0 0 0 rg BT 256.32 124.57 Td (ward ) Tj ET Q q 0 0 0 rg BT 279.70 124.57 Td (to ) Tj ET Q q 0 0 0 rg BT 290.87 124.57 Td (non-employee ) Tj ET Q q 0 0 0 rg BT 351.47 124.57 Td (directors ) Tj ET Q q 0 0 0 rg BT 389.84 124.57 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 427.67 124.57 Td (to ) Tj ET Q q 0 0 0 rg BT 438.84 124.57 Td (the ) Tj ET Q q 0 0 0 rg BT 454.45 124.57 Td (2004 ) Tj ET Q q 0 0 0 rg BT 477.84 124.57 Td (Omnibus ) Tj ET Q q 0 0 0 rg BT 517.90 124.57 Td (Stock ) Tj ET Q q 0 0 0 rg BT 544.07 124.57 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 114.57 Td (Incentive ) Tj ET Q q 0 0 0 rg BT 160.28 114.57 Td (Plan ) Tj ET Q q 0 0 0 rg BT 180.63 114.57 Td (for ) Tj ET Q q 0 0 0 rg BT 194.87 114.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 232.43 114.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 276.11 114.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 293.95 114.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 350.39 114.57 Td (by ) Tj ET Q q 0 0 0 rg BT 362.97 114.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 402.72 114.57 Td (to ) Tj ET Q q 0 0 0 rg BT 413.08 114.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 445.10 114.57 Td (10\(b\) ) Tj ET Q q 0 0 0 rg BT 469.33 114.57 Td (of ) Tj ET Q q 0 0 0 rg BT 480.24 114.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 504.48 114.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 527.61 114.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 548.51 114.57 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 104.57 Td (the ) Tj ET Q q 0 0 0 rg BT 135.22 104.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 176.60 104.57 Td (on ) Tj ET Q q 0 0 0 rg BT 188.55 104.57 Td (August ) Tj ET Q q 0 0 0 rg BT 219.94 104.57 Td (9, ) Tj ET Q q 0 0 0 rg BT 229.94 104.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 254.94 104.57 Td (File ) Tj ET Q q 0 0 0 rg BT 273.00 104.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 290.22 104.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 223 0 obj <> endobj 224 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.85 30.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.48 30.60 Td (1) Tj ET Q q 0 0 0 rg BT 308.11 30.60 Td (1) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 50 718 m 114 718 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 118 718 m 562 718 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 57.00 722.68 Td (Exhibit No.) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 120.50 722.68 Td (Exhibit) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 708.57 Td (10\(uu\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 708.57 Td (V) Tj ET Q q 0 0 0 rg BT 126.43 708.57 Td (oting ) Tj ET Q q 0 0 0 rg BT 148.90 708.57 Td (and ) Tj ET Q q 0 0 0 rg BT 165.25 708.57 Td (Support ) Tj ET Q q 0 0 0 rg BT 198.41 708.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 247.24 708.57 Td (by ) Tj ET Q q 0 0 0 rg BT 259.15 708.57 Td (and ) Tj ET Q q 0 0 0 rg BT 275.50 708.57 Td (among ) Tj ET Q q 0 0 0 rg BT 304.63 708.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 341.53 708.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 384.54 708.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 401.72 708.57 Td (and ) Tj ET Q q 0 0 0 rg BT 418.07 708.57 Td (Strategic ) Tj ET Q q 0 0 0 rg BT 455.38 708.57 Td (V) Tj ET Q q 0 0 0 rg BT 461.50 708.57 Td (alue ) Tj ET Q q 0 0 0 rg BT 480.06 708.57 Td (Partners, ) Tj ET Q q 0 0 0 rg BT 517.24 708.57 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 540.54 708.57 Td (SVP) Tj ET Q q 0 0 0 rg BT 558.51 708.57 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 698.57 Td (Special ) Tj ET Q q 0 0 0 rg BT 153.15 698.57 Td (Situations ) Tj ET Q q 0 0 0 rg BT 196.38 698.57 Td (III ) Tj ET Q q 0 0 0 rg BT 209.59 698.57 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 234.19 698.57 Td (SVP) Tj ET Q q 0 0 0 rg BT 252.17 698.57 Td ( ) Tj ET Q q 0 0 0 rg BT 255.39 698.57 Td (Special ) Tj ET Q q 0 0 0 rg BT 288.04 698.57 Td (Situations ) Tj ET Q q 0 0 0 rg BT 331.26 698.57 Td (III-A) Tj ET Q q 0 0 0 rg BT 351.25 698.57 Td ( ) Tj ET Q q 0 0 0 rg BT 354.47 698.57 Td (LLC, ) Tj ET Q q 0 0 0 rg BT 379.08 698.57 Td (Strategic ) Tj ET Q q 0 0 0 rg BT 417.61 698.57 Td (V) Tj ET Q q 0 0 0 rg BT 423.72 698.57 Td (alue ) Tj ET Q q 0 0 0 rg BT 443.59 698.57 Td (Master ) Tj ET Q q 0 0 0 rg BT 474.58 698.57 Td (Fund, ) Tj ET Q q 0 0 0 rg BT 500.86 698.57 Td (Ltd., ) Tj ET Q q 0 0 0 rg BT 522.97 698.57 Td (Strategic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 688.57 Td (V) Tj ET Q q 0 0 0 rg BT 126.61 688.57 Td (alue ) Tj ET Q q 0 0 0 rg BT 146.11 688.57 Td (Special ) Tj ET Q q 0 0 0 rg BT 178.39 688.57 Td (Situations ) Tj ET Q q 0 0 0 rg BT 221.24 688.57 Td (Fund ) Tj ET Q q 0 0 0 rg BT 244.65 688.57 Td (III, ) Tj ET Q q 0 0 0 rg BT 259.98 688.57 Td (L.P) Tj ET Q q 0 0 0 rg BT 273.04 688.57 Td (. ) Tj ET Q q 0 0 0 rg BT 278.39 688.57 Td (and ) Tj ET Q q 0 0 0 rg BT 295.67 688.57 Td (Strategic ) Tj ET Q q 0 0 0 rg BT 333.85 688.57 Td (V) Tj ET Q q 0 0 0 rg BT 339.96 688.57 Td (alue ) Tj ET Q q 0 0 0 rg BT 359.46 688.57 Td (Opportunities ) Tj ET Q q 0 0 0 rg BT 417.30 688.57 Td (Fund, ) Tj ET Q q 0 0 0 rg BT 443.21 688.57 Td (L.P) Tj ET Q q 0 0 0 rg BT 456.27 688.57 Td (., ) Tj ET Q q 0 0 0 rg BT 464.11 688.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 488.61 688.57 Td (as ) Tj ET Q q 0 0 0 rg BT 499.79 688.57 Td (of ) Tj ET Q q 0 0 0 rg BT 510.96 688.57 Td (October ) Tj ET Q q 0 0 0 rg BT 546.01 688.57 Td (28, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 678.57 Td (2018 ) Tj ET Q q 0 0 0 rg BT 142.97 678.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 199.31 678.57 Td (by ) Tj ET Q q 0 0 0 rg BT 211.78 678.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 251.43 678.57 Td (to ) Tj ET Q q 0 0 0 rg BT 261.68 678.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 293.60 678.57 Td (10.1 ) Tj ET Q q 0 0 0 rg BT 313.57 678.57 Td (of ) Tj ET Q q 0 0 0 rg BT 324.37 678.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 348.52 678.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 366.54 678.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 387.34 678.57 Td (by ) Tj ET Q q 0 0 0 rg BT 399.81 678.57 Td (the ) Tj ET Q q 0 0 0 rg BT 414.50 678.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 455.86 678.57 Td (on ) Tj ET Q q 0 0 0 rg BT 468.33 678.57 Td (October ) Tj ET Q q 0 0 0 rg BT 503.01 678.57 Td (29, ) Tj ET Q q 0 0 0 rg BT 517.98 678.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 542.95 678.57 Td (File ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 668.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 137.72 668.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 653.57 Td (10\(vv\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 653.57 Td (V) Tj ET Q q 0 0 0 rg BT 126.43 653.57 Td (oting ) Tj ET Q q 0 0 0 rg BT 152.47 653.57 Td (and ) Tj ET Q q 0 0 0 rg BT 172.39 653.57 Td (Support ) Tj ET Q q 0 0 0 rg BT 208.33 653.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 260.74 653.57 Td (by ) Tj ET Q q 0 0 0 rg BT 276.22 653.57 Td (and ) Tj ET Q q 0 0 0 rg BT 296.14 653.57 Td (between ) Tj ET Q q 0 0 0 rg BT 334.93 653.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 375.40 653.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 421.98 653.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 442.73 653.57 Td (and ) Tj ET Q q 0 0 0 rg BT 462.65 653.57 Td (KLS ) Tj ET Q q 0 0 0 rg BT 487.02 653.57 Td (Diversified ) Tj ET Q q 0 0 0 rg BT 536.28 653.57 Td (Asset ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 643.57 Td (Management ) Tj ET Q q 0 0 0 rg BT 174.93 643.57 Td (LP) Tj ET Q q 0 0 0 rg BT 185.49 643.57 Td (, ) Tj ET Q q 0 0 0 rg BT 190.22 643.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 214.10 643.57 Td (as ) Tj ET Q q 0 0 0 rg BT 224.66 643.57 Td (of ) Tj ET Q q 0 0 0 rg BT 235.21 643.57 Td (October ) Tj ET Q q 0 0 0 rg BT 269.65 643.57 Td (28, ) Tj ET Q q 0 0 0 rg BT 284.37 643.57 Td (2018 ) Tj ET Q q 0 0 0 rg BT 306.60 643.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 362.69 643.57 Td (by ) Tj ET Q q 0 0 0 rg BT 374.91 643.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 414.32 643.57 Td (to ) Tj ET Q q 0 0 0 rg BT 424.33 643.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 456.00 643.57 Td (10.2 ) Tj ET Q q 0 0 0 rg BT 475.72 643.57 Td (of ) Tj ET Q q 0 0 0 rg BT 486.28 643.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 510.18 643.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 527.96 643.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 548.51 643.57 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 633.57 Td (the ) Tj ET Q q 0 0 0 rg BT 135.22 633.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 176.60 633.57 Td (on ) Tj ET Q q 0 0 0 rg BT 189.10 633.57 Td (October ) Tj ET Q q 0 0 0 rg BT 223.81 633.57 Td (29, ) Tj ET Q q 0 0 0 rg BT 238.81 633.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 263.81 633.57 Td (File ) Tj ET Q q 0 0 0 rg BT 281.87 633.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 299.09 633.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 608.57 Td (10\(ww\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 608.57 Td (V) Tj ET Q q 0 0 0 rg BT 126.43 608.57 Td (oting ) Tj ET Q q 0 0 0 rg BT 149.42 608.57 Td (and ) Tj ET Q q 0 0 0 rg BT 166.29 608.57 Td (Support ) Tj ET Q q 0 0 0 rg BT 199.86 608.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 249.21 608.57 Td (by ) Tj ET Q q 0 0 0 rg BT 261.64 608.57 Td (and ) Tj ET Q q 0 0 0 rg BT 278.51 608.57 Td (among ) Tj ET Q q 0 0 0 rg BT 308.16 608.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 345.58 608.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 389.11 608.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 406.81 608.57 Td (and ) Tj ET Q q 0 0 0 rg BT 423.68 608.57 Td (John ) Tj ET Q q 0 0 0 rg BT 444.47 608.57 Td (A. ) Tj ET Q q 0 0 0 rg BT 456.62 608.57 Td (Brooks, ) Tj ET Q q 0 0 0 rg BT 490.45 608.57 Td (David ) Tj ET Q q 0 0 0 rg BT 517.32 608.57 Td (Geenber) Tj ET Q q 0 0 0 rg BT 551.00 608.57 Td (g, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 598.57 Td (Michael ) Tj ET Q q 0 0 0 rg BT 154.67 598.57 Td (Hanna, ) Tj ET Q q 0 0 0 rg BT 184.68 598.57 Td (Darin ) Tj ET Q q 0 0 0 rg BT 208.86 598.57 Td (G. ) Tj ET Q q 0 0 0 rg BT 219.99 598.57 Td (Holderness, ) Tj ET Q q 0 0 0 rg BT 268.89 598.57 Td (Jerry ) Tj ET Q q 0 0 0 rg BT 290.29 598.57 Td (R. ) Tj ET Q q 0 0 0 rg BT 300.86 598.57 Td (Schuyler) Tj ET Q q 0 0 0 rg BT 336.01 598.57 Td (, ) Tj ET Q q 0 0 0 rg BT 339.92 598.57 Td (Frank ) Tj ET Q q 0 0 0 rg BT 364.66 598.57 Td (Pottow) Tj ET Q q 0 0 0 rg BT 392.35 598.57 Td (, ) Tj ET Q q 0 0 0 rg BT 396.26 598.57 Td (Steven ) Tj ET Q q 0 0 0 rg BT 424.57 598.57 Td (A. ) Tj ET Q q 0 0 0 rg BT 435.70 598.57 Td (Hartman ) Tj ET Q q 0 0 0 rg BT 472.10 598.57 Td (and ) Tj ET Q q 0 0 0 rg BT 487.94 598.57 Td (Benjamin ) Tj ET Q q 0 0 0 rg BT 528.23 598.57 Td (Mathis, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 588.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 144.48 588.57 Td (as ) Tj ET Q q 0 0 0 rg BT 155.14 588.57 Td (of ) Tj ET Q q 0 0 0 rg BT 165.80 588.57 Td (October ) Tj ET Q q 0 0 0 rg BT 200.33 588.57 Td (28, ) Tj ET Q q 0 0 0 rg BT 215.16 588.57 Td (2018 ) Tj ET Q q 0 0 0 rg BT 237.49 588.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 293.68 588.57 Td (by ) Tj ET Q q 0 0 0 rg BT 306.01 588.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 345.52 588.57 Td (to ) Tj ET Q q 0 0 0 rg BT 355.63 588.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 387.40 588.57 Td (10.3 ) Tj ET Q q 0 0 0 rg BT 407.23 588.57 Td (of ) Tj ET Q q 0 0 0 rg BT 417.88 588.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 441.88 588.57 Td (8-K ) Tj ET Q q 0 0 0 rg BT 459.76 588.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 480.42 588.57 Td (by ) Tj ET Q q 0 0 0 rg BT 492.74 588.57 Td (the ) Tj ET Q q 0 0 0 rg BT 507.29 588.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 548.50 588.57 Td (on ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 578.57 Td (October ) Tj ET Q q 0 0 0 rg BT 155.21 578.57 Td (29, ) Tj ET Q q 0 0 0 rg BT 170.21 578.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 195.21 578.57 Td (File ) Tj ET Q q 0 0 0 rg BT 213.26 578.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 230.49 578.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 553.57 Td (10\(xx\)**) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 553.57 Td (Of) Tj ET Q q 0 0 0 rg BT 130.87 553.57 Td (ficer ) Tj ET Q q 0 0 0 rg BT 151.60 553.57 Td (Retirement ) Tj ET Q q 0 0 0 rg BT 197.91 553.57 Td (Agreement, ) Tj ET Q q 0 0 0 rg BT 247.25 553.57 Td (by ) Tj ET Q q 0 0 0 rg BT 259.66 553.57 Td (and ) Tj ET Q q 0 0 0 rg BT 276.51 553.57 Td (between ) Tj ET Q q 0 0 0 rg BT 312.24 553.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 349.65 553.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 393.16 553.57 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 410.84 553.57 Td (and ) Tj ET Q q 0 0 0 rg BT 427.69 553.57 Td (Phil ) Tj ET Q q 0 0 0 rg BT 446.22 553.57 Td (R) Tj ET Q q 0 0 0 rg BT 452.49 553.57 Td (ykhoek, ) Tj ET Q q 0 0 0 rg BT 486.85 553.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 510.91 553.57 Td (as ) Tj ET Q q 0 0 0 rg BT 521.66 553.57 Td (of ) Tj ET Q q 0 0 0 rg BT 532.40 553.57 Td (March ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 543.57 Td (21, ) Tj ET Q q 0 0 0 rg BT 135.28 543.57 Td (2017 ) Tj ET Q q 0 0 0 rg BT 157.57 543.57 Td (\(incorporated ) Tj ET Q q 0 0 0 rg BT 213.71 543.57 Td (by ) Tj ET Q q 0 0 0 rg BT 225.99 543.57 Td (reference ) Tj ET Q q 0 0 0 rg BT 265.46 543.57 Td (to ) Tj ET Q q 0 0 0 rg BT 275.52 543.57 Td (Exhibit ) Tj ET Q q 0 0 0 rg BT 307.25 543.57 Td (10\(f\) ) Tj ET Q q 0 0 0 rg BT 329.52 543.57 Td (of ) Tj ET Q q 0 0 0 rg BT 340.13 543.57 Td (Form ) Tj ET Q q 0 0 0 rg BT 364.08 543.57 Td (10-Q ) Tj ET Q q 0 0 0 rg BT 386.92 543.57 Td (filed ) Tj ET Q q 0 0 0 rg BT 407.53 543.57 Td (by ) Tj ET Q q 0 0 0 rg BT 419.81 543.57 Td (the ) Tj ET Q q 0 0 0 rg BT 434.31 543.57 Td (Company ) Tj ET Q q 0 0 0 rg BT 475.48 543.57 Td (on ) Tj ET Q q 0 0 0 rg BT 487.76 543.57 Td (May ) Tj ET Q q 0 0 0 rg BT 508.37 543.57 Td (5, ) Tj ET Q q 0 0 0 rg BT 518.16 543.57 Td (2017, ) Tj ET Q q 0 0 0 rg BT 542.94 543.57 Td (File ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 533.57 Td (No. ) Tj ET Q q 0 0 0 rg BT 137.72 533.57 Td (001-12935\).) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 508.57 Td (21*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 508.57 Td (List ) Tj ET Q q 0 0 0 rg BT 138.56 508.57 Td (of ) Tj ET Q q 0 0 0 rg BT 149.39 508.57 Td (subsidiaries ) Tj ET Q q 0 0 0 rg BT 199.10 508.57 Td (of ) Tj ET Q q 0 0 0 rg BT 209.93 508.57 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 247.42 508.57 Td (Resources ) Tj ET Q q 0 0 0 rg BT 291.02 508.57 Td (Inc.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 483.57 Td (23\(a\)*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 483.57 Td (Consent ) Tj ET Q q 0 0 0 rg BT 155.78 483.57 Td (of ) Tj ET Q q 0 0 0 rg BT 166.61 483.57 Td (PricewaterhouseCoopers ) Tj ET Q q 0 0 0 rg BT 268.52 483.57 Td (LLP) Tj ET Q q 0 0 0 rg BT 285.19 483.57 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 458.57 Td (23\(b\)*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 458.57 Td (Consent ) Tj ET Q q 0 0 0 rg BT 155.78 458.57 Td (of ) Tj ET Q q 0 0 0 rg BT 166.61 458.57 Td (DeGolyer ) Tj ET Q q 0 0 0 rg BT 208.54 458.57 Td (and ) Tj ET Q q 0 0 0 rg BT 225.48 458.57 Td (MacNaughton.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 433.57 Td (31\(a\)*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 433.57 Td (Certification ) Tj ET Q q 0 0 0 rg BT 173.54 433.57 Td (of ) Tj ET Q q 0 0 0 rg BT 184.37 433.57 Td (Chief ) Tj ET Q q 0 0 0 rg BT 209.08 433.57 Td (Executive ) Tj ET Q q 0 0 0 rg BT 251.56 433.57 Td (Of) Tj ET Q q 0 0 0 rg BT 261.94 433.57 Td (ficer ) Tj ET Q q 0 0 0 rg BT 282.75 433.57 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 320.25 433.57 Td (to ) Tj ET Q q 0 0 0 rg BT 330.53 433.57 Td (Section ) Tj ET Q q 0 0 0 rg BT 363.02 433.57 Td (302 ) Tj ET Q q 0 0 0 rg BT 380.52 433.57 Td (of ) Tj ET Q q 0 0 0 rg BT 391.35 433.57 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 457.17 433.57 Td (Act ) Tj ET Q q 0 0 0 rg BT 474.11 433.57 Td (of ) Tj ET Q q 0 0 0 rg BT 484.94 433.57 Td (2002.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 408.57 Td (31\(b\)*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 408.57 Td (Certification ) Tj ET Q q 0 0 0 rg BT 173.54 408.57 Td (of ) Tj ET Q q 0 0 0 rg BT 184.37 408.57 Td (Chief ) Tj ET Q q 0 0 0 rg BT 209.08 408.57 Td (Financial ) Tj ET Q q 0 0 0 rg BT 248.80 408.57 Td (Of) Tj ET Q q 0 0 0 rg BT 259.17 408.57 Td (ficer ) Tj ET Q q 0 0 0 rg BT 279.98 408.57 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 317.48 408.57 Td (to ) Tj ET Q q 0 0 0 rg BT 327.76 408.57 Td (Section ) Tj ET Q q 0 0 0 rg BT 360.26 408.57 Td (302 ) Tj ET Q q 0 0 0 rg BT 377.76 408.57 Td (of ) Tj ET Q q 0 0 0 rg BT 388.59 408.57 Td (Sarbanes-Oxley ) Tj ET Q q 0 0 0 rg BT 454.40 408.57 Td (Act ) Tj ET Q q 0 0 0 rg BT 471.34 408.57 Td (of ) Tj ET Q q 0 0 0 rg BT 482.17 408.57 Td (2002.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 383.57 Td (32*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 383.57 Td (Certification ) Tj ET Q q 0 0 0 rg BT 173.57 383.57 Td (of ) Tj ET Q q 0 0 0 rg BT 184.43 383.57 Td (Chief ) Tj ET Q q 0 0 0 rg BT 209.18 383.57 Td (Executive ) Tj ET Q q 0 0 0 rg BT 251.69 383.57 Td (Of) Tj ET Q q 0 0 0 rg BT 262.06 383.57 Td (ficer ) Tj ET Q q 0 0 0 rg BT 282.90 383.57 Td (and ) Tj ET Q q 0 0 0 rg BT 299.87 383.57 Td (Chief ) Tj ET Q q 0 0 0 rg BT 324.62 383.57 Td (Financial ) Tj ET Q q 0 0 0 rg BT 364.36 383.57 Td (Of) Tj ET Q q 0 0 0 rg BT 374.74 383.57 Td (ficer ) Tj ET Q q 0 0 0 rg BT 395.58 383.57 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 433.11 383.57 Td (to ) Tj ET Q q 0 0 0 rg BT 443.42 383.57 Td (Section ) Tj ET Q q 0 0 0 rg BT 475.95 383.57 Td (906 ) Tj ET Q q 0 0 0 rg BT 493.48 383.57 Td (of ) Tj ET Q q 0 0 0 rg BT 504.34 383.57 Td (the ) Tj ET Q q 0 0 0 rg BT 519.09 383.57 Td (Sarbanes-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 373.57 Td (Oxley ) Tj ET Q q 0 0 0 rg BT 146.89 373.57 Td (Act ) Tj ET Q q 0 0 0 rg BT 163.83 373.57 Td (of ) Tj ET Q q 0 0 0 rg BT 174.66 373.57 Td (2002.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 348.57 Td (99*) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 348.57 Td (The ) Tj ET Q q 0 0 0 rg BT 138.19 348.57 Td (summary ) Tj ET Q q 0 0 0 rg BT 177.55 348.57 Td (of ) Tj ET Q q 0 0 0 rg BT 188.03 348.57 Td (DeGolyer ) Tj ET Q q 0 0 0 rg BT 229.60 348.57 Td (and ) Tj ET Q q 0 0 0 rg BT 246.19 348.57 Td (MacNaughton�) Tj ET Q q 0 0 0 rg BT 306.17 348.57 Td (s ) Tj ET Q q 0 0 0 rg BT 312.21 348.57 Td (Report ) Tj ET Q q 0 0 0 rg BT 341.57 348.57 Td (as ) Tj ET Q q 0 0 0 rg BT 352.04 348.57 Td (of ) Tj ET Q q 0 0 0 rg BT 362.52 348.57 Td (December ) Tj ET Q q 0 0 0 rg BT 405.75 348.57 Td (31, ) Tj ET Q q 0 0 0 rg BT 420.39 348.57 Td (2018, ) Tj ET Q q 0 0 0 rg BT 445.04 348.57 Td (on ) Tj ET Q q 0 0 0 rg BT 457.18 348.57 Td (oil ) Tj ET Q q 0 0 0 rg BT 469.89 348.57 Td (and ) Tj ET Q q 0 0 0 rg BT 486.47 348.57 Td (gas ) Tj ET Q q 0 0 0 rg BT 501.94 348.57 Td (reserves ) Tj ET Q q 0 0 0 rg BT 536.85 348.57 Td (\(SEC ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 120.50 338.57 Td (Case\) ) Tj ET Q q 0 0 0 rg BT 145.77 338.57 Td (dated ) Tj ET Q q 0 0 0 rg BT 169.92 338.57 Td (February ) Tj ET Q q 0 0 0 rg BT 208.52 338.57 Td (19, ) Tj ET Q q 0 0 0 rg BT 223.52 338.57 Td (2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 243.52 338.57 Td (.) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 311.50 Td (*���Included ) Tj ET Q q 0 0 0 rg BT 99.49 311.50 Td (herewith.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 299.50 Td (** ) Tj ET Q q 0 0 0 rg BT 62.00 299.50 Td (Compensation ) Tj ET Q q 0 0 0 rg BT 122.27 299.50 Td (arrangements.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 273.93505859375 m 179.197265625 273.93505859375 l s q 0 0 0 rg BT 49.50 275.50 Td (Item ) Tj ET Q q 0 0 0 rg BT 71.99 275.50 Td (16. ) Tj ET Q q 0 0 0 rg BT 86.99 275.50 Td (Form ) Tj ET Q q 0 0 0 rg BT 113.37 275.50 Td (10-K ) Tj ET Q q 0 0 0 rg BT 136.98 275.50 Td (Summary) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 251.50 Td (None.) Tj ET Q endstream endobj 225 0 obj <> endobj 226 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 50.00 760.60 Td (T) Tj ET Q q 0 0 0 rg BT 55.75 760.60 Td (able of Contents) Tj ET Q BT /F2 10.00 Tf ET BT /F2 10.00 Tf ET q 0 0 0 rg BT 254.80 748.60 Td (Denbury Resour) Tj ET Q q 0 0 0 rg BT 325.45 748.60 Td (ces Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 298.65 30.60 Td (1) Tj ET Q q 0 0 0 rg BT 303.28 30.60 Td (12) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 273.85 726.75 Td (SIGNA) Tj ET Q q 0 0 0 rg BT 304.78 726.75 Td (TURES ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 702.75 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 104.64 702.75 Td (to ) Tj ET Q q 0 0 0 rg BT 114.56 702.75 Td (the ) Tj ET Q q 0 0 0 rg BT 128.92 702.75 Td (requirements ) Tj ET Q q 0 0 0 rg BT 183.26 702.75 Td (of ) Tj ET Q q 0 0 0 rg BT 193.73 702.75 Td (Section ) Tj ET Q q 0 0 0 rg BT 225.87 702.75 Td (13 ) Tj ET Q q 0 0 0 rg BT 238.01 702.75 Td (or ) Tj ET Q q 0 0 0 rg BT 248.48 702.75 Td (15\(d\) ) Tj ET Q q 0 0 0 rg BT 272.28 702.75 Td (of ) Tj ET Q q 0 0 0 rg BT 282.75 702.75 Td (the ) Tj ET Q q 0 0 0 rg BT 297.11 702.75 Td (Securities ) Tj ET Q q 0 0 0 rg BT 338.69 702.75 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 379.78 702.75 Td (Act ) Tj ET Q q 0 0 0 rg BT 396.36 702.75 Td (of ) Tj ET Q q 0 0 0 rg BT 406.83 702.75 Td (1934, ) Tj ET Q q 0 0 0 rg BT 431.47 702.75 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 468.60 702.75 Td (Resources ) Tj ET Q q 0 0 0 rg BT 511.84 702.75 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 529.25 702.75 Td (has ) Tj ET Q q 0 0 0 rg BT 544.72 702.75 Td (duly ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 690.75 Td (caused ) Tj ET Q q 0 0 0 rg BT 79.21 690.75 Td (this ) Tj ET Q q 0 0 0 rg BT 96.16 690.75 Td (report ) Tj ET Q q 0 0 0 rg BT 122.53 690.75 Td (to ) Tj ET Q q 0 0 0 rg BT 132.81 690.75 Td (be ) Tj ET Q q 0 0 0 rg BT 144.75 690.75 Td (signed ) Tj ET Q q 0 0 0 rg BT 173.36 690.75 Td (on ) Tj ET Q q 0 0 0 rg BT 185.86 690.75 Td (its ) Tj ET Q q 0 0 0 rg BT 197.81 690.75 Td (behalf ) Tj ET Q q 0 0 0 rg BT 225.29 690.75 Td (by ) Tj ET Q q 0 0 0 rg BT 237.79 690.75 Td (the ) Tj ET Q q 0 0 0 rg BT 252.51 690.75 Td (undersigned, ) Tj ET Q q 0 0 0 rg BT 306.38 690.75 Td (thereunto ) Tj ET Q q 0 0 0 rg BT 346.65 690.75 Td (duly ) Tj ET Q q 0 0 0 rg BT 366.93 690.75 Td (authorized.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 678.75 Td ( ) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250 634.25 m 562 634.25 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 250 590.25 m 562 590.25 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 657.92 Td (DENBUR) Tj ET Q q 0 0 0 rg BT 293.34 657.92 Td (Y) Tj ET Q q 0 0 0 rg BT 300.10 657.92 Td ( RESOURCES INC.) 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Kendall) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 482.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.50 482.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 481.92 Td (Christian S. Kendall) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 471.92 Td (Director) Tj ET Q q 0 0 0 rg BT 285.42 471.92 Td (, President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 424.64 471.92 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 461.92 Td (\(Principal Executive Of) Tj ET Q q 0 0 0 rg BT 347.29 461.92 Td (ficer\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 431.92 Td (February 28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.50 432.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 432.82 Td (/s/ Mark C. ) Tj ET Q q 0 0 0 rg BT 300.00 432.82 Td (Allen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 417.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.50 417.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 416.92 Td (Mark C. ) Tj ET Q q 0 0 0 rg BT 287.78 416.92 Td (Allen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 406.92 Td (Executive ) Tj ET Q q 0 0 0 rg BT 294.80 406.92 Td (V) Tj ET Q q 0 0 0 rg BT 301.42 406.92 Td (ice President and Chief Financial Of) Tj ET Q q 0 0 0 rg BT 447.03 406.92 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 396.92 Td (\(Principal Financial Of) Tj ET Q q 0 0 0 rg BT 344.52 396.92 Td (ficer\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 366.92 Td (February 28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.50 367.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 367.82 Td (/s/ ) Tj ET Q q 0 0 0 rg BT 264.17 367.82 Td (Alan Rhoades) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 352.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.50 352.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 351.92 Td (Alan Rhoades) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 341.92 Td (V) Tj ET Q q 0 0 0 rg BT 259.12 341.92 Td (ice President and Chief ) Tj ET Q q 0 0 0 rg BT 354.10 341.92 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 413.62 341.92 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 331.92 Td (\(Principal ) Tj ET Q q 0 0 0 rg BT 293.88 331.92 Td (Accounting Of) Tj ET Q q 0 0 0 rg BT 353.41 331.92 Td (ficer\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.50 302.82 Td (February 28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 152.50 302.82 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 252.50 301.92 Td (/s/ John P) Tj ET Q q 0 0 0 rg BT 290.85 301.92 Td (. 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BT 340.19 632.25 Td (under ) Tj ET Q q 0 0 0 rg BT 365.00 632.25 Td (which ) Tj ET Q q 0 0 0 rg BT 391.49 632.25 Td (such ) Tj ET Q q 0 0 0 rg BT 411.87 632.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 456.12 632.25 Td (were ) Tj ET Q q 0 0 0 rg BT 477.60 632.25 Td (made, ) Tj ET Q q 0 0 0 rg BT 503.80 632.25 Td (not ) Tj ET Q q 0 0 0 rg BT 518.62 632.25 Td (misleading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 620.25 Td (with ) Tj ET Q q 0 0 0 rg BT 87.78 620.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 118.59 620.25 Td (to ) Tj ET Q q 0 0 0 rg BT 128.87 620.25 Td (the ) Tj ET Q q 0 0 0 rg BT 143.59 620.25 Td (period ) Tj ET Q q 0 0 0 rg BT 171.64 620.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 205.78 620.25 Td (by ) Tj ET Q q 0 0 0 rg BT 218.28 620.25 Td (this ) Tj ET Q q 0 0 0 rg BT 235.23 620.25 Td (report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (3. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 596.25 Td (Based ) Tj ET Q q 0 0 0 rg BT 94.22 596.25 Td (on ) Tj ET Q q 0 0 0 rg BT 106.49 596.25 Td (my ) Tj ET Q q 0 0 0 rg BT 121.55 596.25 Td (knowledge, ) Tj ET Q q 0 0 0 rg BT 170.20 596.25 Td (the ) Tj ET Q q 0 0 0 rg BT 184.69 596.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 221.95 596.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 268.94 596.25 Td (and ) Tj ET Q q 0 0 0 rg BT 285.66 596.25 Td (other ) Tj ET Q q 0 0 0 rg BT 308.48 596.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 345.74 596.25 Td (information ) Tj ET Q q 0 0 0 rg BT 395.23 596.25 Td (included ) Tj ET Q q 0 0 0 rg BT 431.94 596.25 Td (in ) Tj ET Q q 0 0 0 rg BT 441.99 596.25 Td (this ) Tj ET Q q 0 0 0 rg BT 458.72 596.25 Td (report, ) Tj ET Q q 0 0 0 rg BT 487.37 596.25 Td (fairly ) Tj ET Q q 0 0 0 rg BT 511.30 596.25 Td (present ) Tj ET Q q 0 0 0 rg BT 542.46 596.25 Td (in ) Tj ET Q q 0 0 0 rg BT 552.51 596.25 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 584.25 Td (material ) Tj ET Q q 0 0 0 rg BT 103.67 584.25 Td (respects ) Tj ET Q q 0 0 0 rg BT 139.28 584.25 Td (the ) Tj ET Q q 0 0 0 rg BT 154.90 584.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 193.29 584.25 Td (condition, ) Tj ET Q q 0 0 0 rg BT 236.97 584.25 Td (results ) Tj ET Q q 0 0 0 rg BT 266.49 584.25 Td (of ) Tj ET Q q 0 0 0 rg BT 278.23 584.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 323.29 584.25 Td (and ) Tj ET Q q 0 0 0 rg BT 341.13 584.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 362.31 584.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 387.94 584.25 Td (of ) Tj ET Q q 0 0 0 rg BT 399.68 584.25 Td (the ) Tj ET Q q 0 0 0 rg BT 415.30 584.25 Td (registrant ) Tj ET Q q 0 0 0 rg BT 456.47 584.25 Td (as ) Tj ET Q q 0 0 0 rg BT 468.21 584.25 Td (of, ) Tj ET Q q 0 0 0 rg BT 482.45 584.25 Td (and ) Tj ET Q q 0 0 0 rg BT 500.29 584.25 Td (for) Tj ET Q q 0 0 0 rg BT 511.55 584.25 Td (, ) Tj ET Q q 0 0 0 rg BT 517.46 584.25 Td (the ) Tj ET Q q 0 0 0 rg BT 533.08 584.25 Td (periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 572.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 108.32 572.25 Td (in ) Tj ET Q q 0 0 0 rg BT 118.59 572.25 Td (this ) Tj ET Q q 0 0 0 rg BT 135.54 572.25 Td (report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.25 Td (4. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 548.25 Td (The ) Tj ET Q q 0 0 0 rg BT 87.11 548.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 127.65 548.25 Td (s ) Tj ET Q q 0 0 0 rg BT 135.60 548.25 Td (other ) Tj ET Q q 0 0 0 rg BT 160.20 548.25 Td (certifying ) Tj ET Q q 0 0 0 rg BT 203.13 548.25 Td (of) Tj ET Q q 0 0 0 rg BT 211.28 548.25 Td (ficers ) Tj ET Q q 0 0 0 rg BT 237.55 548.25 Td (and ) Tj ET Q q 0 0 0 rg BT 256.05 548.25 Td (I ) Tj ET Q q 0 0 0 rg BT 263.43 548.25 Td (are ) Tj ET Q q 0 0 0 rg BT 279.70 548.25 Td (responsible ) Tj ET Q q 0 0 0 rg BT 329.31 548.25 Td (for ) Tj ET Q q 0 0 0 rg BT 345.02 548.25 Td (establishing ) Tj ET Q q 0 0 0 rg BT 396.86 548.25 Td (and ) Tj ET Q q 0 0 0 rg BT 415.35 548.25 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 467.18 548.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 511.79 548.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 548.06 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0 0 rg BT 110.26 524.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 151.64 524.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 168.57 524.25 Td (Rules ) Tj ET Q q 0 0 0 rg BT 193.85 524.25 Td (13a-15\(f\) ) Tj ET Q q 0 0 0 rg BT 234.11 524.25 Td (and ) Tj ET Q q 0 0 0 rg BT 251.05 524.25 Td (15d-15\(f\)\) ) Tj ET Q q 0 0 0 rg BT 295.20 524.25 Td (for ) Tj ET Q q 0 0 0 rg BT 309.36 524.25 Td (the ) Tj ET Q q 0 0 0 rg BT 324.08 524.25 Td (registrant ) Tj ET Q q 0 0 0 rg BT 364.34 524.25 Td (and ) Tj ET Q q 0 0 0 rg BT 381.28 524.25 Td (have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 500.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 500.25 Td (Designed ) Tj ET Q q 0 0 0 rg BT 126.58 500.25 Td (such ) Tj ET Q q 0 0 0 rg BT 148.22 500.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 192.07 500.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 227.60 500.25 Td (and ) Tj ET Q q 0 0 0 rg BT 245.35 500.25 Td (procedures, ) Tj ET Q q 0 0 0 rg BT 295.03 500.25 Td (or ) Tj ET Q q 0 0 0 rg BT 306.67 500.25 Td (caused ) Tj ET Q q 0 0 0 rg BT 337.18 500.25 Td (such ) Tj ET Q q 0 0 0 rg BT 358.82 500.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 402.68 500.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 438.20 500.25 Td (and ) Tj ET Q q 0 0 0 rg BT 455.95 500.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 503.13 500.25 Td (to ) Tj ET Q q 0 0 0 rg BT 514.22 500.25 Td (be ) Tj ET Q q 0 0 0 rg BT 526.96 500.25 Td (designed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 488.25 Td (under ) Tj ET Q q 0 0 0 rg BT 109.95 488.25 Td (our ) Tj ET Q q 0 0 0 rg BT 124.96 488.25 Td (supervision, ) Tj ET Q q 0 0 0 rg BT 175.24 488.25 Td (to ) Tj ET Q q 0 0 0 rg BT 184.70 488.25 Td (ensure ) Tj ET Q q 0 0 0 rg BT 212.48 488.25 Td (that ) Tj ET Q q 0 0 0 rg BT 229.15 488.25 Td (material ) Tj ET Q q 0 0 0 rg BT 263.59 488.25 Td (information ) Tj ET Q q 0 0 0 rg BT 312.48 488.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 344.70 488.25 Td (to ) Tj ET Q q 0 0 0 rg BT 354.16 488.25 Td (the ) Tj ET Q q 0 0 0 rg BT 368.05 488.25 Td (registrant, ) Tj ET Q q 0 0 0 rg BT 410.00 488.25 Td (including ) Tj ET Q q 0 0 0 rg BT 449.45 488.25 Td (its ) Tj ET Q q 0 0 0 rg BT 460.57 488.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 512.79 488.25 Td (subsidiaries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 476.25 Td (is ) Tj ET Q q 0 0 0 rg BT 94.43 476.25 Td (made ) Tj ET Q q 0 0 0 rg BT 118.34 476.25 Td (known ) Tj ET Q q 0 0 0 rg BT 147.82 476.25 Td (to ) Tj ET Q q 0 0 0 rg BT 157.86 476.25 Td (us ) Tj ET Q q 0 0 0 rg BT 169.01 476.25 Td (by ) Tj ET Q q 0 0 0 rg BT 181.27 476.25 Td (others ) Tj ET Q q 0 0 0 rg BT 207.96 476.25 Td (within ) Tj ET Q q 0 0 0 rg BT 235.78 476.25 Td (those ) Tj ET Q q 0 0 0 rg BT 259.15 476.25 Td (entities, ) Tj ET Q q 0 0 0 rg BT 292.79 476.25 Td (particularly ) Tj ET Q q 0 0 0 rg BT 341.13 476.25 Td (during ) Tj ET Q q 0 0 0 rg BT 369.50 476.25 Td (the ) Tj ET Q q 0 0 0 rg BT 383.97 476.25 Td (period ) Tj ET Q q 0 0 0 rg BT 411.78 476.25 Td (in ) Tj ET Q q 0 0 0 rg BT 421.82 476.25 Td (which ) Tj ET Q q 0 0 0 rg BT 448.51 476.25 Td (this ) Tj ET Q q 0 0 0 rg BT 465.22 476.25 Td (report ) Tj ET Q q 0 0 0 rg BT 491.35 476.25 Td (is ) Tj ET Q q 0 0 0 rg BT 500.28 476.25 Td (being ) Tj ET Q q 0 0 0 rg BT 524.76 476.25 Td (prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 452.25 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 452.25 Td (Designed ) Tj ET Q q 0 0 0 rg BT 126.44 452.25 Td (such ) Tj ET Q q 0 0 0 rg BT 147.95 452.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 181.66 452.25 Td (control ) Tj ET Q q 0 0 0 rg BT 213.16 452.25 Td (over ) Tj ET Q q 0 0 0 rg BT 234.10 452.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 272.26 452.25 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 314.59 452.25 Td (or ) Tj ET Q q 0 0 0 rg BT 326.09 452.25 Td (caused ) Tj ET Q q 0 0 0 rg BT 356.47 452.25 Td (such ) Tj ET Q q 0 0 0 rg BT 377.98 452.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 411.69 452.25 Td (control ) Tj ET Q q 0 0 0 rg BT 443.19 452.25 Td (over ) Tj ET Q q 0 0 0 rg BT 464.13 452.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 502.29 452.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 542.12 452.25 Td (to ) Tj ET Q q 0 0 0 rg BT 553.07 452.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 440.25 Td (designed ) Tj ET Q q 0 0 0 rg BT 123.77 440.25 Td (under ) Tj ET Q q 0 0 0 rg BT 149.25 440.25 Td (our ) Tj ET Q q 0 0 0 rg BT 165.30 440.25 Td (supervision, ) Tj ET Q q 0 0 0 rg BT 216.63 440.25 Td (to ) Tj ET Q q 0 0 0 rg BT 227.13 440.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 260.39 440.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 305.86 440.25 Td (assurance ) Tj ET Q q 0 0 0 rg BT 347.45 440.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 388.48 440.25 Td (the ) Tj ET Q q 0 0 0 rg BT 403.42 440.25 Td (reliability ) Tj ET Q q 0 0 0 rg BT 445.02 440.25 Td (of ) Tj ET Q q 0 0 0 rg BT 456.06 440.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 493.76 440.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 533.14 440.25 Td (and ) Tj ET Q q 0 0 0 rg BT 550.29 440.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 428.25 Td (preparation ) Tj ET Q q 0 0 0 rg BT 133.53 428.25 Td (of ) Tj ET Q q 0 0 0 rg BT 144.36 428.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 181.84 428.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 226.55 428.25 Td (for ) Tj ET Q q 0 0 0 rg BT 240.71 428.25 Td (external ) Tj ET Q q 0 0 0 rg BT 275.42 428.25 Td (purposes ) Tj ET Q q 0 0 0 rg BT 313.47 428.25 Td (in ) Tj ET Q q 0 0 0 rg BT 323.75 428.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 371.21 428.25 Td (with ) Tj ET Q q 0 0 0 rg BT 391.49 428.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 431.19 428.25 Td (accepted ) Tj ET Q q 0 0 0 rg BT 468.66 428.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 515.03 428.25 Td (principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 404.25 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 404.25 Td (Evaluated ) Tj ET Q q 0 0 0 rg BT 129.78 404.25 Td (the ) Tj ET Q q 0 0 0 rg BT 146.30 404.25 Td (ef) Tj ET Q q 0 0 0 rg BT 153.89 404.25 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 202.62 404.25 Td (of ) Tj ET Q q 0 0 0 rg BT 215.25 404.25 Td (the ) Tj ET Q q 0 0 0 rg BT 231.77 404.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 272.32 404.25 Td (s ) Tj ET Q q 0 0 0 rg BT 280.51 404.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 325.36 404.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 361.88 404.25 Td (and ) Tj ET Q q 0 0 0 rg BT 380.63 404.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 428.80 404.25 Td (and ) Tj ET Q q 0 0 0 rg BT 447.54 404.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 490.16 404.25 Td (in ) Tj ET Q q 0 0 0 rg BT 502.24 404.25 Td (this ) Tj ET Q q 0 0 0 rg BT 520.99 404.25 Td (report ) Tj ET Q q 0 0 0 rg BT 549.17 404.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 392.25 Td (conclusions ) Tj ET Q q 0 0 0 rg BT 135.02 392.25 Td (about ) Tj ET Q q 0 0 0 rg BT 159.54 392.25 Td (the ) Tj ET Q q 0 0 0 rg BT 174.05 392.25 Td (ef) Tj ET Q q 0 0 0 rg BT 181.64 392.25 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 228.37 392.25 Td (of ) Tj ET Q q 0 0 0 rg BT 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ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 356.25 Td (\(d\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 356.25 Td (Disclosed ) Tj ET Q q 0 0 0 rg BT 127.75 356.25 Td (in ) Tj ET Q q 0 0 0 rg BT 138.33 356.25 Td (this ) Tj ET Q q 0 0 0 rg BT 155.58 356.25 Td (report ) Tj ET Q q 0 0 0 rg BT 182.27 356.25 Td (any ) Tj ET Q q 0 0 0 rg BT 199.51 356.25 Td (change ) Tj ET Q q 0 0 0 rg BT 230.64 356.25 Td (in ) Tj ET Q q 0 0 0 rg BT 241.22 356.25 Td (the ) Tj ET Q q 0 0 0 rg BT 256.24 356.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 296.79 356.25 Td (s ) Tj ET Q q 0 0 0 rg BT 303.48 356.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 336.83 356.25 Td (control ) Tj ET Q q 0 0 0 rg BT 367.96 356.25 Td (over ) Tj ET Q q 0 0 0 rg BT 388.54 356.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 426.33 356.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 465.79 356.25 Td (that ) Tj ET Q q 0 0 0 rg BT 483.59 356.25 Td (occurred ) Tj ET Q q 0 0 0 rg BT 521.37 356.25 Td (during ) Tj ET Q q 0 0 0 rg BT 550.29 356.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 344.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 126.04 344.25 Td (s ) Tj ET Q q 0 0 0 rg BT 131.34 344.25 Td (most ) Tj ET Q q 0 0 0 rg BT 152.19 344.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 178.01 344.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 201.07 344.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 230.79 344.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 247.74 344.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 288.28 344.25 Td (s ) Tj ET Q q 0 0 0 rg BT 293.58 344.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 319.42 344.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 342.48 344.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 372.19 344.25 Td (in ) Tj ET Q q 0 0 0 rg BT 381.38 344.25 Td (the ) Tj ET Q q 0 0 0 rg BT 395.00 344.25 Td (case ) Tj ET Q q 0 0 0 rg BT 413.60 344.25 Td (of ) Tj ET Q q 0 0 0 rg BT 423.34 344.25 Td (an ) Tj ET Q q 0 0 0 rg BT 434.18 344.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 462.24 344.25 Td (report\) ) Tj ET Q q 0 0 0 rg BT 490.85 344.25 Td (that ) Tj ET Q q 0 0 0 rg BT 507.25 344.25 Td (has ) Tj ET Q q 0 0 0 rg BT 521.98 344.25 Td (materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 332.25 Td (af) Tj ET Q q 0 0 0 rg BT 93.09 332.25 Td (fected, ) Tj ET Q q 0 0 0 rg BT 122.51 332.25 Td (or ) Tj ET Q q 0 0 0 rg BT 133.34 332.25 Td (is ) Tj ET Q q 0 0 0 rg BT 142.51 332.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 188.33 332.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 213.60 332.25 Td (to ) Tj ET Q q 0 0 0 rg BT 223.88 332.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 266.92 332.25 Td (af) Tj ET Q q 0 0 0 rg BT 274.50 332.25 Td (fect, ) Tj ET Q q 0 0 0 rg BT 294.49 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 309.21 332.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 349.75 332.25 Td (s ) Tj ET Q q 0 0 0 rg BT 356.14 332.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 389.18 332.25 Td (control ) Tj ET Q q 0 0 0 rg BT 420.01 332.25 Td (over ) Tj ET Q q 0 0 0 rg BT 440.28 332.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 477.76 332.25 Td (reporting; ) Tj ET Q q 0 0 0 rg BT 519.69 332.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.25 Td (5. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 308.25 Td (The ) Tj ET Q q 0 0 0 rg BT 85.95 308.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 126.49 308.25 Td (s ) Tj ET Q q 0 0 0 rg BT 133.29 308.25 Td (other ) Tj ET Q q 0 0 0 rg BT 156.74 308.25 Td (certifying ) Tj ET Q q 0 0 0 rg BT 198.52 308.25 Td (of) Tj ET Q q 0 0 0 rg BT 206.67 308.25 Td (ficers ) Tj ET Q q 0 0 0 rg BT 231.78 308.25 Td (and ) Tj ET Q q 0 0 0 rg BT 249.13 308.25 Td (I ) Tj ET Q q 0 0 0 rg BT 255.36 308.25 Td (have ) Tj ET Q q 0 0 0 rg BT 277.14 308.25 Td (disclosed, ) Tj ET Q q 0 0 0 rg BT 319.77 308.25 Td (based ) Tj ET Q q 0 0 0 rg BT 345.44 308.25 Td (on ) Tj ET Q q 0 0 0 rg BT 358.34 308.25 Td (our ) Tj ET Q q 0 0 0 rg BT 374.58 308.25 Td (most ) Tj ET Q q 0 0 0 rg BT 396.93 308.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 424.26 308.25 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 468.82 308.25 Td (of ) Tj ET Q q 0 0 0 rg BT 480.05 308.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 513.50 308.25 Td (control ) Tj ET Q q 0 0 0 rg BT 544.73 308.25 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 296.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 106.13 296.25 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 148.94 296.25 Td (to ) Tj ET Q q 0 0 0 rg BT 160.37 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 176.24 296.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 216.78 296.25 Td (s ) Tj ET Q q 0 0 0 rg BT 224.33 296.25 Td (auditors ) Tj ET Q q 0 0 0 rg BT 260.20 296.25 Td (and ) Tj ET Q q 0 0 0 rg BT 278.29 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.16 296.25 Td (audit ) Tj ET Q q 0 0 0 rg BT 317.80 296.25 Td (committee ) Tj ET Q q 0 0 0 rg BT 363.66 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 375.64 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 391.51 296.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 432.06 296.25 Td (s ) Tj ET Q q 0 0 0 rg BT 439.60 296.25 Td (board ) Tj ET Q q 0 0 0 rg BT 466.02 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 478.00 296.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 516.64 296.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 531.95 296.25 Td (persons ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 284.25 Td (performing ) Tj ET Q q 0 0 0 rg BT 114.99 284.25 Td (the ) Tj ET Q q 0 0 0 rg BT 129.70 284.25 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 173.85 284.25 Td (functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 260.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 260.25 Td (All ) Tj ET Q q 0 0 0 rg BT 100.25 260.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 144.44 260.25 Td (deficiencies ) Tj ET Q q 0 0 0 rg BT 194.17 260.25 Td (and ) Tj ET Q q 0 0 0 rg BT 210.58 260.25 Td (material ) Tj ET Q q 0 0 0 rg BT 245.32 260.25 Td (weaknesses ) Tj ET Q q 0 0 0 rg BT 293.95 260.25 Td (in ) Tj ET Q q 0 0 0 rg BT 303.70 260.25 Td (the ) Tj ET Q q 0 0 0 rg BT 317.89 260.25 Td (design ) Tj ET Q q 0 0 0 rg BT 345.98 260.25 Td (or ) Tj ET Q q 0 0 0 rg BT 356.29 260.25 Td (operation ) Tj ET Q q 0 0 0 rg BT 396.03 260.25 Td (of ) Tj ET Q q 0 0 0 rg BT 406.33 260.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 438.85 260.25 Td (control ) Tj ET Q q 0 0 0 rg BT 469.15 260.25 Td (over ) Tj ET Q q 0 0 0 rg BT 488.90 260.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 525.86 260.25 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 248.25 Td (which ) Tj ET Q q 0 0 0 rg BT 112.31 248.25 Td (are ) Tj ET Q q 0 0 0 rg BT 126.89 248.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 172.57 248.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 197.72 248.25 Td (to ) Tj ET Q q 0 0 0 rg BT 207.87 248.25 Td (adversely ) Tj ET Q q 0 0 0 rg BT 248.55 248.25 Td (af) Tj ET Q q 0 0 0 rg BT 256.14 248.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 273.50 248.25 Td (the ) Tj ET Q q 0 0 0 rg BT 288.08 248.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 328.63 248.25 Td (s ) Tj ET Q q 0 0 0 rg BT 334.89 248.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 362.81 248.25 Td (to ) Tj ET Q q 0 0 0 rg BT 372.96 248.25 Td (record, ) Tj ET Q q 0 0 0 rg BT 403.37 248.25 Td (process, ) Tj ET Q q 0 0 0 rg BT 438.23 248.25 Td (summarize ) Tj ET Q q 0 0 0 rg BT 484.47 248.25 Td (and ) Tj ET Q q 0 0 0 rg BT 501.28 248.25 Td (report ) Tj ET Q q 0 0 0 rg BT 527.53 248.25 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 236.25 Td (information; ) Tj ET Q q 0 0 0 rg BT 137.99 236.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 212.25 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 212.25 Td ( ) Tj ET Q q 0 0 0 rg BT 87.89 212.25 Td (Any ) Tj ET Q q 0 0 0 rg BT 108.19 212.25 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 134.86 212.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 170.14 212.25 Td (or ) Tj ET Q q 0 0 0 rg BT 181.54 212.25 Td (not ) Tj ET Q q 0 0 0 rg BT 197.39 212.25 Td (material, ) Tj ET Q q 0 0 0 rg BT 235.73 212.25 Td (that ) Tj ET Q q 0 0 0 rg BT 253.79 212.25 Td (involves ) Tj ET Q q 0 0 0 rg BT 290.75 212.25 Td (management ) Tj ET Q q 0 0 0 rg BT 344.91 212.25 Td (or ) Tj ET Q q 0 0 0 rg BT 356.32 212.25 Td (other ) Tj ET Q q 0 0 0 rg BT 379.94 212.25 Td (employees ) Tj ET Q q 0 0 0 rg BT 425.77 212.25 Td (who ) Tj ET Q q 0 0 0 rg BT 446.07 212.25 Td (have ) Tj ET Q q 0 0 0 rg BT 468.02 212.25 Td (a ) Tj ET Q q 0 0 0 rg BT 475.53 212.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 520.81 212.25 Td (role ) Tj ET Q q 0 0 0 rg BT 539.43 212.25 Td (in ) Tj ET Q q 0 0 0 rg BT 550.28 212.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 200.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 126.04 200.25 Td (s ) Tj ET Q q 0 0 0 rg BT 132.43 200.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 165.48 200.25 Td (control ) Tj ET Q q 0 0 0 rg BT 196.30 200.25 Td (over ) Tj ET Q q 0 0 0 rg BT 216.57 200.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 254.05 200.25 Td (reporting.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 162.75 m 561.5 162.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 167.42 Td (February 28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 167.42 Td (/s/ Christian S. Kendall) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 152.42 Td (Christian S. Kendall) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 137.42 Td (Director) Tj ET Q q 0 0 0 rg BT 371.92 137.42 Td (, President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 511.14 137.42 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 237 0 obj <> endobj 238 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 506.05 740.25 Td (Exhibit 31\(b\) ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 116.55 716.25 Td (CER) Tj ET Q q 0 0 0 rg BT 137.31 716.25 Td (TIFICA) Tj ET Q q 0 0 0 rg BT 171.57 716.25 Td (TION UNDER SECTION 302 OF) Tj ET Q q 0 0 0 rg BT 316.22 716.25 Td ( ) Tj ET Q q 0 0 0 rg BT 318.54 716.25 Td (THE SARBANES-OXLEY) Tj ET Q q 0 0 0 rg BT 434.03 716.25 Td ( ) Tj ET Q q 0 0 0 rg BT 435.98 716.25 Td (ACT) Tj ET Q q 0 0 0 rg BT 456.91 716.25 Td ( OF) Tj ET Q q 0 0 0 rg BT 472.93 716.25 Td ( 2002 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (I, ) Tj ET Q q 0 0 0 rg BT 57.83 692.25 Td (Mark ) Tj ET Q q 0 0 0 rg BT 81.99 692.25 Td (C. ) Tj ET Q q 0 0 0 rg BT 93.11 692.25 Td (Allen, ) Tj ET Q q 0 0 0 rg BT 120.33 692.25 Td (certify ) Tj ET Q q 0 0 0 rg BT 148.92 692.25 Td (that:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.25 Td (1. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 668.25 Td (I ) Tj ET Q q 0 0 0 rg BT 73.33 668.25 Td (have ) Tj ET Q q 0 0 0 rg BT 94.71 668.25 Td (reviewed ) Tj ET Q q 0 0 0 rg BT 133.85 668.25 Td (this ) Tj ET Q q 0 0 0 rg BT 150.80 668.25 Td (report ) Tj ET Q q 0 0 0 rg BT 177.18 668.25 Td (on ) Tj ET Q q 0 0 0 rg BT 189.68 668.25 Td (Form ) Tj ET Q q 0 0 0 rg BT 213.85 668.25 Td (10-K ) Tj ET Q q 0 0 0 rg BT 236.90 668.25 Td (of ) Tj ET Q q 0 0 0 rg BT 247.73 668.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 285.22 668.25 Td (Resources ) Tj ET Q q 0 0 0 rg BT 328.82 668.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 346.59 668.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 364.63 668.25 Td (registrant\);) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 644.25 Td (Based ) Tj ET Q q 0 0 0 rg BT 94.61 644.25 Td (on ) Tj ET Q q 0 0 0 rg BT 107.28 644.25 Td (my ) Tj ET Q q 0 0 0 rg BT 122.73 644.25 Td (knowledge, ) Tj ET Q q 0 0 0 rg BT 171.78 644.25 Td (this ) Tj ET Q q 0 0 0 rg BT 188.90 644.25 Td (report ) Tj ET Q q 0 0 0 rg BT 215.45 644.25 Td (does ) Tj ET Q q 0 0 0 rg BT 236.46 644.25 Td (not ) Tj ET Q q 0 0 0 rg BT 251.91 644.25 Td (contain ) Tj ET Q q 0 0 0 rg BT 284.01 644.25 Td (any ) Tj ET Q q 0 0 0 rg BT 301.12 644.25 Td (untrue ) Tj ET Q q 0 0 0 rg BT 329.34 644.25 Td (statement ) Tj ET Q q 0 0 0 rg BT 370.33 644.25 Td (of ) Tj ET Q q 0 0 0 rg BT 381.34 644.25 Td (a ) Tj ET Q q 0 0 0 rg BT 388.45 644.25 Td (material ) Tj ET Q q 0 0 0 rg BT 423.88 644.25 Td (fact ) Tj ET Q q 0 0 0 rg BT 441.54 644.25 Td (or ) Tj ET Q q 0 0 0 rg BT 452.54 644.25 Td (omit ) Tj ET Q q 0 0 0 rg BT 473.55 644.25 Td (to ) Tj ET Q q 0 0 0 rg BT 484.00 644.25 Td (state ) Tj ET Q q 0 0 0 rg BT 505.00 644.25 Td (a ) Tj ET Q q 0 0 0 rg BT 512.11 644.25 Td (material ) Tj ET Q q 0 0 0 rg BT 547.54 644.25 Td (fact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 632.25 Td (necessary ) Tj ET Q q 0 0 0 rg BT 108.41 632.25 Td (to ) Tj ET Q q 0 0 0 rg BT 118.24 632.25 Td (make ) Tj ET Q q 0 0 0 rg BT 141.94 632.25 Td (the ) Tj ET Q q 0 0 0 rg BT 156.20 632.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 200.46 632.25 Td (made, ) Tj ET Q q 0 0 0 rg BT 226.66 632.25 Td (in ) Tj ET Q q 0 0 0 rg BT 236.48 632.25 Td (light ) Tj ET Q q 0 0 0 rg BT 256.87 632.25 Td (of ) Tj ET Q q 0 0 0 rg BT 267.24 632.25 Td (the ) Tj ET Q q 0 0 0 rg BT 281.50 632.25 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 340.19 632.25 Td (under ) Tj ET Q q 0 0 0 rg BT 365.00 632.25 Td (which ) Tj ET Q q 0 0 0 rg BT 391.49 632.25 Td (such ) Tj ET Q q 0 0 0 rg BT 411.87 632.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 456.12 632.25 Td (were ) Tj ET Q q 0 0 0 rg BT 477.60 632.25 Td (made, ) Tj ET Q q 0 0 0 rg BT 503.80 632.25 Td (not ) Tj ET Q q 0 0 0 rg BT 518.62 632.25 Td (misleading ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 620.25 Td (with ) Tj ET Q q 0 0 0 rg BT 87.78 620.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 118.59 620.25 Td (to ) Tj ET Q q 0 0 0 rg BT 128.87 620.25 Td (the ) Tj ET Q q 0 0 0 rg BT 143.59 620.25 Td (period ) Tj ET Q q 0 0 0 rg BT 171.64 620.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 205.78 620.25 Td (by ) Tj ET Q q 0 0 0 rg BT 218.28 620.25 Td (this ) Tj ET Q q 0 0 0 rg BT 235.23 620.25 Td (report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.25 Td (3. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 596.25 Td (Based ) Tj ET Q q 0 0 0 rg BT 94.22 596.25 Td (on ) Tj ET Q q 0 0 0 rg BT 106.49 596.25 Td (my ) Tj ET Q q 0 0 0 rg BT 121.55 596.25 Td (knowledge, ) Tj ET Q q 0 0 0 rg BT 170.20 596.25 Td (the ) Tj ET Q q 0 0 0 rg BT 184.69 596.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 221.95 596.25 Td (statements, ) Tj ET Q q 0 0 0 rg BT 268.94 596.25 Td (and ) Tj ET Q q 0 0 0 rg BT 285.66 596.25 Td (other ) Tj ET Q q 0 0 0 rg BT 308.48 596.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 345.74 596.25 Td (information ) Tj ET Q q 0 0 0 rg BT 395.23 596.25 Td (included ) Tj ET Q q 0 0 0 rg BT 431.94 596.25 Td (in ) Tj ET Q q 0 0 0 rg BT 441.99 596.25 Td (this ) Tj ET Q q 0 0 0 rg BT 458.72 596.25 Td (report, ) Tj ET Q q 0 0 0 rg BT 487.37 596.25 Td (fairly ) Tj ET Q q 0 0 0 rg BT 511.30 596.25 Td (present ) Tj ET Q q 0 0 0 rg BT 542.46 596.25 Td (in ) Tj ET Q q 0 0 0 rg BT 552.51 596.25 Td (all ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 584.25 Td (material ) Tj ET Q q 0 0 0 rg BT 103.67 584.25 Td (respects ) Tj ET Q q 0 0 0 rg BT 139.28 584.25 Td (the ) Tj ET Q q 0 0 0 rg BT 154.90 584.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 193.29 584.25 Td (condition, ) Tj ET Q q 0 0 0 rg BT 236.97 584.25 Td (results ) Tj ET Q q 0 0 0 rg BT 266.49 584.25 Td (of ) Tj ET Q q 0 0 0 rg BT 278.23 584.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 323.29 584.25 Td (and ) Tj ET Q q 0 0 0 rg BT 341.13 584.25 Td (cash ) Tj ET Q q 0 0 0 rg BT 362.31 584.25 Td (flows ) Tj ET Q q 0 0 0 rg BT 387.94 584.25 Td (of ) Tj ET Q q 0 0 0 rg BT 399.68 584.25 Td (the ) Tj ET Q q 0 0 0 rg BT 415.30 584.25 Td (registrant ) Tj ET Q q 0 0 0 rg BT 456.47 584.25 Td (as ) Tj ET Q q 0 0 0 rg BT 468.21 584.25 Td (of, ) Tj ET Q q 0 0 0 rg BT 482.45 584.25 Td (and ) Tj ET Q q 0 0 0 rg BT 500.29 584.25 Td (for) Tj ET Q q 0 0 0 rg BT 511.55 584.25 Td (, ) Tj ET Q q 0 0 0 rg BT 517.46 584.25 Td (the ) Tj ET Q q 0 0 0 rg BT 533.08 584.25 Td (periods ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 572.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 108.32 572.25 Td (in ) Tj ET Q q 0 0 0 rg BT 118.59 572.25 Td (this ) Tj ET Q q 0 0 0 rg BT 135.54 572.25 Td (report;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.25 Td (4. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 548.25 Td (The ) Tj ET Q q 0 0 0 rg BT 87.11 548.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 127.65 548.25 Td (s ) Tj ET Q q 0 0 0 rg BT 135.60 548.25 Td (other ) Tj ET Q q 0 0 0 rg BT 160.20 548.25 Td (certifying ) Tj ET Q q 0 0 0 rg BT 203.13 548.25 Td (of) Tj ET Q q 0 0 0 rg BT 211.28 548.25 Td (ficers ) Tj ET Q q 0 0 0 rg BT 237.55 548.25 Td (and ) Tj ET Q q 0 0 0 rg BT 256.05 548.25 Td (I ) Tj ET Q q 0 0 0 rg BT 263.43 548.25 Td (are ) Tj ET Q q 0 0 0 rg BT 279.70 548.25 Td (responsible ) Tj ET Q q 0 0 0 rg BT 329.31 548.25 Td (for ) Tj ET Q q 0 0 0 rg BT 345.02 548.25 Td (establishing ) Tj ET Q q 0 0 0 rg BT 396.86 548.25 Td (and ) Tj ET Q q 0 0 0 rg BT 415.35 548.25 Td (maintaining ) Tj ET Q q 0 0 0 rg BT 467.18 548.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 511.79 548.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 548.06 548.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 536.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 114.83 536.25 Td (\(as ) Tj ET Q q 0 0 0 rg BT 129.95 536.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 163.40 536.25 Td (in ) Tj ET Q q 0 0 0 rg BT 174.64 536.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 216.77 536.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 234.67 536.25 Td (Rules ) Tj ET Q q 0 0 0 rg BT 260.91 536.25 Td (13a-15\(e\) ) Tj ET Q q 0 0 0 rg BT 303.24 536.25 Td (and ) Tj ET Q q 0 0 0 rg BT 321.14 536.25 Td (15d-15\(e\)\) ) Tj ET Q q 0 0 0 rg BT 367.37 536.25 Td (and ) Tj ET Q q 0 0 0 rg BT 385.27 536.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 419.27 536.25 Td (control ) Tj ET Q q 0 0 0 rg BT 451.06 536.25 Td (over ) Tj ET Q q 0 0 0 rg BT 472.29 536.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 510.74 536.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 550.86 536.25 Td (\(as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 524.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 99.99 524.25 Td (in ) Tj ET Q q 0 0 0 rg BT 110.26 524.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 151.64 524.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 168.57 524.25 Td (Rules ) Tj ET Q q 0 0 0 rg BT 193.85 524.25 Td (13a-15\(f\) ) Tj ET Q q 0 0 0 rg BT 234.11 524.25 Td (and ) Tj ET Q q 0 0 0 rg BT 251.05 524.25 Td (15d-15\(f\)\) ) Tj ET Q q 0 0 0 rg BT 295.20 524.25 Td (for ) Tj ET Q q 0 0 0 rg BT 309.36 524.25 Td (the ) Tj ET Q q 0 0 0 rg BT 324.08 524.25 Td (registrant ) Tj ET Q q 0 0 0 rg BT 364.34 524.25 Td (and ) Tj ET Q q 0 0 0 rg BT 381.28 524.25 Td (have:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 500.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 500.25 Td (Designed ) Tj ET Q q 0 0 0 rg BT 126.58 500.25 Td (such ) Tj ET Q q 0 0 0 rg BT 148.22 500.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 192.07 500.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 227.60 500.25 Td (and ) Tj ET Q q 0 0 0 rg BT 245.35 500.25 Td (procedures, ) Tj ET Q q 0 0 0 rg BT 295.03 500.25 Td (or ) Tj ET Q q 0 0 0 rg BT 306.67 500.25 Td (caused ) Tj ET Q q 0 0 0 rg BT 337.18 500.25 Td (such ) Tj ET Q q 0 0 0 rg BT 358.82 500.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 402.68 500.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 438.20 500.25 Td (and ) Tj ET Q q 0 0 0 rg BT 455.95 500.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 503.13 500.25 Td (to ) Tj ET Q q 0 0 0 rg BT 514.22 500.25 Td (be ) Tj ET Q q 0 0 0 rg BT 526.96 500.25 Td (designed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 488.25 Td (under ) Tj ET Q q 0 0 0 rg BT 109.95 488.25 Td (our ) Tj ET Q q 0 0 0 rg BT 124.96 488.25 Td (supervision, ) Tj ET Q q 0 0 0 rg BT 175.24 488.25 Td (to ) Tj ET Q q 0 0 0 rg BT 184.70 488.25 Td (ensure ) Tj ET Q q 0 0 0 rg BT 212.48 488.25 Td (that ) Tj ET Q q 0 0 0 rg BT 229.15 488.25 Td (material ) Tj ET Q q 0 0 0 rg BT 263.59 488.25 Td (information ) Tj ET Q q 0 0 0 rg BT 312.48 488.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 344.70 488.25 Td (to ) Tj ET Q q 0 0 0 rg BT 354.16 488.25 Td (the ) Tj ET Q q 0 0 0 rg BT 368.05 488.25 Td (registrant, ) Tj ET Q q 0 0 0 rg BT 410.00 488.25 Td (including ) Tj ET Q q 0 0 0 rg BT 449.45 488.25 Td (its ) Tj ET Q q 0 0 0 rg BT 460.57 488.25 Td (consolidated ) Tj ET Q q 0 0 0 rg BT 512.79 488.25 Td (subsidiaries, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 476.25 Td (is ) Tj ET Q q 0 0 0 rg BT 94.43 476.25 Td (made ) Tj ET Q q 0 0 0 rg BT 118.34 476.25 Td (known ) Tj ET Q q 0 0 0 rg BT 147.82 476.25 Td (to ) Tj ET Q q 0 0 0 rg BT 157.86 476.25 Td (us ) Tj ET Q q 0 0 0 rg BT 169.01 476.25 Td (by ) Tj ET Q q 0 0 0 rg BT 181.27 476.25 Td (others ) Tj ET Q q 0 0 0 rg BT 207.96 476.25 Td (within ) Tj ET Q q 0 0 0 rg BT 235.78 476.25 Td (those ) Tj ET Q q 0 0 0 rg BT 259.15 476.25 Td (entities, ) Tj ET Q q 0 0 0 rg BT 292.79 476.25 Td (particularly ) Tj ET Q q 0 0 0 rg BT 341.13 476.25 Td (during ) Tj ET Q q 0 0 0 rg BT 369.50 476.25 Td (the ) Tj ET Q q 0 0 0 rg BT 383.97 476.25 Td (period ) Tj ET Q q 0 0 0 rg BT 411.78 476.25 Td (in ) Tj ET Q q 0 0 0 rg BT 421.82 476.25 Td (which ) Tj ET Q q 0 0 0 rg BT 448.51 476.25 Td (this ) Tj ET Q q 0 0 0 rg BT 465.22 476.25 Td (report ) Tj ET Q q 0 0 0 rg BT 491.35 476.25 Td (is ) Tj ET Q q 0 0 0 rg BT 500.28 476.25 Td (being ) Tj ET Q q 0 0 0 rg BT 524.76 476.25 Td (prepared;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 452.25 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 452.25 Td (Designed ) Tj ET Q q 0 0 0 rg BT 126.44 452.25 Td (such ) Tj ET Q q 0 0 0 rg BT 147.95 452.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 181.66 452.25 Td (control ) Tj ET Q q 0 0 0 rg BT 213.16 452.25 Td (over ) Tj ET Q q 0 0 0 rg BT 234.10 452.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 272.26 452.25 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 314.59 452.25 Td (or ) Tj ET Q q 0 0 0 rg BT 326.09 452.25 Td (caused ) Tj ET Q q 0 0 0 rg BT 356.47 452.25 Td (such ) Tj ET Q q 0 0 0 rg BT 377.98 452.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 411.69 452.25 Td (control ) Tj ET Q q 0 0 0 rg BT 443.19 452.25 Td (over ) Tj ET Q q 0 0 0 rg BT 464.13 452.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 502.29 452.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 542.12 452.25 Td (to ) Tj ET Q q 0 0 0 rg BT 553.07 452.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 440.25 Td (designed ) Tj ET Q q 0 0 0 rg BT 123.77 440.25 Td (under ) Tj ET Q q 0 0 0 rg BT 149.25 440.25 Td (our ) Tj ET Q q 0 0 0 rg BT 165.30 440.25 Td (supervision, ) Tj ET Q q 0 0 0 rg BT 216.63 440.25 Td (to ) Tj ET Q q 0 0 0 rg BT 227.13 440.25 Td (provide ) Tj ET Q q 0 0 0 rg BT 260.39 440.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 305.86 440.25 Td (assurance ) Tj ET Q q 0 0 0 rg BT 347.45 440.25 Td (regarding ) Tj ET Q q 0 0 0 rg BT 388.48 440.25 Td (the ) Tj ET Q q 0 0 0 rg BT 403.42 440.25 Td (reliability ) Tj ET Q q 0 0 0 rg BT 445.02 440.25 Td (of ) Tj ET Q q 0 0 0 rg BT 456.06 440.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 493.76 440.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 533.14 440.25 Td (and ) Tj ET Q q 0 0 0 rg BT 550.29 440.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 428.25 Td (preparation ) Tj ET Q q 0 0 0 rg BT 133.53 428.25 Td (of ) Tj ET Q q 0 0 0 rg BT 144.36 428.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 181.84 428.25 Td (statements ) Tj ET Q q 0 0 0 rg BT 226.55 428.25 Td (for ) Tj ET Q q 0 0 0 rg BT 240.71 428.25 Td (external ) Tj ET Q q 0 0 0 rg BT 275.42 428.25 Td (purposes ) Tj ET Q q 0 0 0 rg BT 313.47 428.25 Td (in ) Tj ET Q q 0 0 0 rg BT 323.75 428.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 371.21 428.25 Td (with ) Tj ET Q q 0 0 0 rg BT 391.49 428.25 Td (generally ) Tj ET Q q 0 0 0 rg BT 431.19 428.25 Td (accepted ) Tj ET Q q 0 0 0 rg BT 468.66 428.25 Td (accounting ) Tj ET Q q 0 0 0 rg BT 515.03 428.25 Td (principles;) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 404.25 Td (\(c\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 404.25 Td (Evaluated ) Tj ET Q q 0 0 0 rg BT 129.78 404.25 Td (the ) Tj ET Q q 0 0 0 rg BT 146.30 404.25 Td (ef) Tj ET Q q 0 0 0 rg BT 153.89 404.25 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 202.62 404.25 Td (of ) Tj ET Q q 0 0 0 rg BT 215.25 404.25 Td (the ) Tj ET Q q 0 0 0 rg BT 231.77 404.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 272.32 404.25 Td (s ) Tj ET Q q 0 0 0 rg BT 280.51 404.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 325.36 404.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 361.88 404.25 Td (and ) Tj ET Q q 0 0 0 rg BT 380.63 404.25 Td (procedures ) Tj ET Q q 0 0 0 rg BT 428.80 404.25 Td (and ) Tj ET Q q 0 0 0 rg BT 447.54 404.25 Td (presented ) Tj ET Q q 0 0 0 rg BT 490.16 404.25 Td (in ) Tj ET Q q 0 0 0 rg BT 502.24 404.25 Td (this ) Tj ET Q q 0 0 0 rg BT 520.99 404.25 Td (report ) Tj ET Q q 0 0 0 rg BT 549.17 404.25 Td (our ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 392.25 Td (conclusions ) Tj ET Q q 0 0 0 rg BT 135.02 392.25 Td (about ) Tj ET Q q 0 0 0 rg BT 159.54 392.25 Td (the ) Tj ET Q q 0 0 0 rg BT 174.05 392.25 Td (ef) Tj ET Q q 0 0 0 rg BT 181.64 392.25 Td (fectiveness ) Tj ET Q q 0 0 0 rg BT 228.37 392.25 Td (of ) Tj ET Q q 0 0 0 rg BT 239.00 392.25 Td (the ) Tj ET Q q 0 0 0 rg BT 253.52 392.25 Td (disclosure ) Tj ET Q q 0 0 0 rg BT 296.36 392.25 Td (controls ) Tj ET Q q 0 0 0 rg BT 330.88 392.25 Td (and ) Tj ET Q q 0 0 0 rg BT 347.62 392.25 Td (procedures, ) Tj ET Q q 0 0 0 rg BT 396.29 392.25 Td (as ) Tj ET Q q 0 0 0 rg BT 406.92 392.25 Td (of ) Tj ET Q q 0 0 0 rg BT 417.55 392.25 Td (the ) Tj ET Q q 0 0 0 rg BT 432.07 392.25 Td (end ) Tj ET Q q 0 0 0 rg BT 448.81 392.25 Td (of ) Tj ET Q q 0 0 0 rg BT 459.44 392.25 Td (the ) Tj ET Q q 0 0 0 rg BT 473.96 392.25 Td (period ) Tj ET Q q 0 0 0 rg BT 501.81 392.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 535.76 392.25 Td (by ) Tj ET Q q 0 0 0 rg BT 548.06 392.25 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 380.25 Td (report ) Tj ET Q q 0 0 0 rg BT 111.88 380.25 Td (based ) Tj ET Q q 0 0 0 rg BT 137.15 380.25 Td (on ) Tj ET Q q 0 0 0 rg BT 149.65 380.25 Td (such ) Tj ET Q q 0 0 0 rg BT 170.48 380.25 Td (evaluation; ) Tj ET Q q 0 0 0 rg BT 217.40 380.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 356.25 Td (\(d\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 356.25 Td (Disclosed ) Tj ET Q q 0 0 0 rg BT 127.75 356.25 Td (in ) Tj ET Q q 0 0 0 rg BT 138.33 356.25 Td (this ) Tj ET Q q 0 0 0 rg BT 155.58 356.25 Td (report ) Tj ET Q q 0 0 0 rg BT 182.27 356.25 Td (any ) Tj ET Q q 0 0 0 rg BT 199.51 356.25 Td (change ) Tj ET Q q 0 0 0 rg BT 230.64 356.25 Td (in ) Tj ET Q q 0 0 0 rg BT 241.22 356.25 Td (the ) Tj ET Q q 0 0 0 rg BT 256.24 356.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 296.79 356.25 Td (s ) Tj ET Q q 0 0 0 rg BT 303.48 356.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 336.83 356.25 Td (control ) Tj ET Q q 0 0 0 rg BT 367.96 356.25 Td (over ) Tj ET Q q 0 0 0 rg BT 388.54 356.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 426.33 356.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 465.79 356.25 Td (that ) Tj ET Q q 0 0 0 rg BT 483.59 356.25 Td (occurred ) Tj ET Q q 0 0 0 rg BT 521.37 356.25 Td (during ) Tj ET Q q 0 0 0 rg BT 550.29 356.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 344.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 126.04 344.25 Td (s ) Tj ET Q q 0 0 0 rg BT 131.34 344.25 Td (most ) Tj ET Q q 0 0 0 rg BT 152.19 344.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 178.01 344.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 201.07 344.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 230.79 344.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 247.74 344.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 288.28 344.25 Td (s ) Tj ET Q q 0 0 0 rg BT 293.58 344.25 Td (fourth ) Tj ET Q q 0 0 0 rg BT 319.42 344.25 Td (fiscal ) Tj ET Q q 0 0 0 rg BT 342.48 344.25 Td (quarter ) Tj ET Q q 0 0 0 rg BT 372.19 344.25 Td (in ) Tj ET Q q 0 0 0 rg BT 381.38 344.25 Td (the ) Tj ET Q q 0 0 0 rg BT 395.00 344.25 Td (case ) Tj ET Q q 0 0 0 rg BT 413.60 344.25 Td (of ) Tj ET Q q 0 0 0 rg BT 423.34 344.25 Td (an ) Tj ET Q q 0 0 0 rg BT 434.18 344.25 Td (annual ) Tj ET Q q 0 0 0 rg BT 462.24 344.25 Td (report\) ) Tj ET Q q 0 0 0 rg BT 490.85 344.25 Td (that ) Tj ET Q q 0 0 0 rg BT 507.25 344.25 Td (has ) Tj ET Q q 0 0 0 rg BT 521.98 344.25 Td (materially ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 332.25 Td (af) Tj ET Q q 0 0 0 rg BT 93.09 332.25 Td (fected, ) Tj ET Q q 0 0 0 rg BT 122.51 332.25 Td (or ) Tj ET Q q 0 0 0 rg BT 133.34 332.25 Td (is ) Tj ET Q q 0 0 0 rg BT 142.51 332.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 188.33 332.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 213.60 332.25 Td (to ) Tj ET Q q 0 0 0 rg BT 223.88 332.25 Td (materially ) Tj ET Q q 0 0 0 rg BT 266.92 332.25 Td (af) Tj ET Q q 0 0 0 rg BT 274.50 332.25 Td (fect, ) Tj ET Q q 0 0 0 rg BT 294.49 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 309.21 332.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 349.75 332.25 Td (s ) Tj ET Q q 0 0 0 rg BT 356.14 332.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 389.18 332.25 Td (control ) Tj ET Q q 0 0 0 rg BT 420.01 332.25 Td (over ) Tj ET Q q 0 0 0 rg BT 440.28 332.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 477.76 332.25 Td (reporting; ) Tj ET Q q 0 0 0 rg BT 519.69 332.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.25 Td (5. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 308.25 Td (The ) Tj ET Q q 0 0 0 rg BT 85.95 308.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 126.49 308.25 Td (s ) Tj ET Q q 0 0 0 rg BT 133.29 308.25 Td (other ) Tj ET Q q 0 0 0 rg BT 156.74 308.25 Td (certifying ) Tj ET Q q 0 0 0 rg BT 198.52 308.25 Td (of) Tj ET Q q 0 0 0 rg BT 206.67 308.25 Td (ficers ) Tj ET Q q 0 0 0 rg BT 231.78 308.25 Td (and ) Tj ET Q q 0 0 0 rg BT 249.13 308.25 Td (I ) Tj ET Q q 0 0 0 rg BT 255.36 308.25 Td (have ) Tj ET Q q 0 0 0 rg BT 277.14 308.25 Td (disclosed, ) Tj ET Q q 0 0 0 rg BT 319.77 308.25 Td (based ) Tj ET Q q 0 0 0 rg BT 345.44 308.25 Td (on ) Tj ET Q q 0 0 0 rg BT 358.34 308.25 Td (our ) Tj ET Q q 0 0 0 rg BT 374.58 308.25 Td (most ) Tj ET Q q 0 0 0 rg BT 396.93 308.25 Td (recent ) Tj ET Q q 0 0 0 rg BT 424.26 308.25 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 468.82 308.25 Td (of ) Tj ET Q q 0 0 0 rg BT 480.05 308.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 513.50 308.25 Td (control ) Tj ET Q q 0 0 0 rg BT 544.73 308.25 Td (over ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 296.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 106.13 296.25 Td (reporting, ) Tj ET Q q 0 0 0 rg BT 148.94 296.25 Td (to ) Tj ET Q q 0 0 0 rg BT 160.37 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 176.24 296.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 216.78 296.25 Td (s ) Tj ET Q q 0 0 0 rg BT 224.33 296.25 Td (auditors ) Tj ET Q q 0 0 0 rg BT 260.20 296.25 Td (and ) Tj ET Q q 0 0 0 rg BT 278.29 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 294.16 296.25 Td (audit ) Tj ET Q q 0 0 0 rg BT 317.80 296.25 Td (committee ) Tj ET Q q 0 0 0 rg BT 363.66 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 375.64 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 391.51 296.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 432.06 296.25 Td (s ) Tj ET Q q 0 0 0 rg BT 439.60 296.25 Td (board ) Tj ET Q q 0 0 0 rg BT 466.02 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 478.00 296.25 Td (directors ) Tj ET Q q 0 0 0 rg BT 516.64 296.25 Td (\(or ) Tj ET Q q 0 0 0 rg BT 531.95 296.25 Td (persons ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 284.25 Td (performing ) Tj ET Q q 0 0 0 rg BT 114.99 284.25 Td (the ) Tj ET Q q 0 0 0 rg BT 129.70 284.25 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 173.85 284.25 Td (functions\):) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 260.25 Td (\(a\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 260.25 Td (All ) Tj ET Q q 0 0 0 rg BT 100.25 260.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 144.44 260.25 Td (deficiencies ) Tj ET Q q 0 0 0 rg BT 194.17 260.25 Td (and ) Tj ET Q q 0 0 0 rg BT 210.58 260.25 Td (material ) Tj ET Q q 0 0 0 rg BT 245.32 260.25 Td (weaknesses ) Tj ET Q q 0 0 0 rg BT 293.95 260.25 Td (in ) Tj ET Q q 0 0 0 rg BT 303.70 260.25 Td (the ) Tj ET Q q 0 0 0 rg BT 317.89 260.25 Td (design ) Tj ET Q q 0 0 0 rg BT 345.98 260.25 Td (or ) Tj ET Q q 0 0 0 rg BT 356.29 260.25 Td (operation ) Tj ET Q q 0 0 0 rg BT 396.03 260.25 Td (of ) Tj ET Q q 0 0 0 rg BT 406.33 260.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 438.85 260.25 Td (control ) Tj ET Q q 0 0 0 rg BT 469.15 260.25 Td (over ) Tj ET Q q 0 0 0 rg BT 488.90 260.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 525.86 260.25 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 248.25 Td (which ) Tj ET Q q 0 0 0 rg BT 112.31 248.25 Td (are ) Tj ET Q q 0 0 0 rg BT 126.89 248.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 172.57 248.25 Td (likely ) Tj ET Q q 0 0 0 rg BT 197.72 248.25 Td (to ) Tj ET Q q 0 0 0 rg BT 207.87 248.25 Td (adversely ) Tj ET Q q 0 0 0 rg BT 248.55 248.25 Td (af) Tj ET Q q 0 0 0 rg BT 256.14 248.25 Td (fect ) Tj ET Q q 0 0 0 rg BT 273.50 248.25 Td (the ) Tj ET Q q 0 0 0 rg BT 288.08 248.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 328.63 248.25 Td (s ) Tj ET Q q 0 0 0 rg BT 334.89 248.25 Td (ability ) Tj ET Q q 0 0 0 rg BT 362.81 248.25 Td (to ) Tj ET Q q 0 0 0 rg BT 372.96 248.25 Td (record, ) Tj ET Q q 0 0 0 rg BT 403.37 248.25 Td (process, ) Tj ET Q q 0 0 0 rg BT 438.23 248.25 Td (summarize ) Tj ET Q q 0 0 0 rg BT 484.47 248.25 Td (and ) Tj ET Q q 0 0 0 rg BT 501.28 248.25 Td (report ) Tj ET Q q 0 0 0 rg BT 527.53 248.25 Td (financial ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 236.25 Td (information; ) Tj ET Q q 0 0 0 rg BT 137.99 236.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 212.25 Td (\(b\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 212.25 Td ( ) Tj ET Q q 0 0 0 rg BT 87.89 212.25 Td (Any ) Tj ET Q q 0 0 0 rg BT 108.19 212.25 Td (fraud, ) Tj ET Q q 0 0 0 rg BT 134.86 212.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 170.14 212.25 Td (or ) Tj ET Q q 0 0 0 rg BT 181.54 212.25 Td (not ) Tj ET Q q 0 0 0 rg BT 197.39 212.25 Td (material, ) Tj ET Q q 0 0 0 rg BT 235.73 212.25 Td (that ) Tj ET Q q 0 0 0 rg BT 253.79 212.25 Td (involves ) Tj ET Q q 0 0 0 rg BT 290.75 212.25 Td (management ) Tj ET Q q 0 0 0 rg BT 344.91 212.25 Td (or ) Tj ET Q q 0 0 0 rg BT 356.32 212.25 Td (other ) Tj ET Q q 0 0 0 rg BT 379.94 212.25 Td (employees ) Tj ET Q q 0 0 0 rg BT 425.77 212.25 Td (who ) Tj ET Q q 0 0 0 rg BT 446.07 212.25 Td (have ) Tj ET Q q 0 0 0 rg BT 468.02 212.25 Td (a ) Tj ET Q q 0 0 0 rg BT 475.53 212.25 Td (significant ) Tj ET Q q 0 0 0 rg BT 520.81 212.25 Td (role ) Tj ET Q q 0 0 0 rg BT 539.43 212.25 Td (in ) Tj ET Q q 0 0 0 rg BT 550.28 212.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 200.25 Td (registrant�) Tj ET Q q 0 0 0 rg BT 126.04 200.25 Td (s ) Tj ET Q q 0 0 0 rg BT 132.43 200.25 Td (internal ) Tj ET Q q 0 0 0 rg BT 165.48 200.25 Td (control ) Tj ET Q q 0 0 0 rg BT 196.30 200.25 Td (over ) Tj ET Q q 0 0 0 rg BT 216.57 200.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 254.05 200.25 Td (reporting.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 162.75 m 561.5 162.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 52.00 167.42 Td (February 28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 167.42 Td (/s/ Mark C. ) Tj ET Q q 0 0 0 rg BT 386.50 167.42 Td (Allen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 152.42 Td (Mark C. ) Tj ET Q q 0 0 0 rg BT 374.55 152.42 Td (Allen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 137.42 Td (Executive ) Tj ET Q q 0 0 0 rg BT 381.30 137.42 Td (V) Tj ET Q q 0 0 0 rg BT 387.92 137.42 Td (ice President, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 519.09 137.42 Td (ficer) Tj ET Q q 0 0 0 rg BT 537.01 137.42 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 127.42 Td (T) Tj ET Q q 0 0 0 rg BT 344.76 127.42 Td (reasurer) Tj ET Q q 0 0 0 rg BT 376.55 127.42 Td (, and ) Tj ET Q q 0 0 0 rg BT 397.94 127.42 Td (Assistant Secretary) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 239 0 obj <> endobj 240 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 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(year ) Tj ET Q q 0 0 0 rg BT 363.01 680.25 Td (ended ) Tj ET Q q 0 0 0 rg BT 388.69 680.25 Td (December ) Tj ET Q q 0 0 0 rg BT 431.58 680.25 Td (31, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 445.88 680.25 Td (2018) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 465.88 680.25 Td ( ) Tj ET Q q 0 0 0 rg BT 467.69 680.25 Td (\(the ) Tj ET Q q 0 0 0 rg BT 485.04 680.25 Td (Report\) ) Tj ET Q q 0 0 0 rg BT 517.39 680.25 Td (of ) Tj ET Q q 0 0 0 rg BT 527.52 680.25 Td (Denbury ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.25 Td (Resources ) Tj ET Q q 0 0 0 rg BT 93.29 668.25 Td (Inc. ) Tj ET Q q 0 0 0 rg BT 111.26 668.25 Td (\(Denbury\) ) Tj ET Q q 0 0 0 rg BT 155.60 668.25 Td (as ) Tj ET Q q 0 0 0 rg BT 166.63 668.25 Td (filed ) Tj ET Q q 0 0 0 rg BT 187.65 668.25 Td (with ) Tj ET Q q 0 0 0 rg BT 208.12 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 223.04 668.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 265.16 668.25 Td (and ) Tj ET Q q 0 0 0 rg BT 282.30 668.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 324.42 668.25 Td (Commission, ) Tj ET Q q 0 0 0 rg BT 380.18 668.25 Td (each ) Tj ET Q q 0 0 0 rg BT 401.19 668.25 Td (of ) Tj ET Q q 0 0 0 rg BT 412.21 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 427.13 668.25 Td (undersigned, ) Tj ET Q q 0 0 0 rg BT 481.20 668.25 Td (in ) Tj ET Q q 0 0 0 rg BT 491.67 668.25 Td (his ) Tj ET Q q 0 0 0 rg BT 506.04 668.25 Td (capacity ) Tj ET Q q 0 0 0 rg BT 542.04 668.25 Td (as ) Tj ET Q q 0 0 0 rg BT 553.07 668.25 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.25 Td (of) Tj ET Q q 0 0 0 rg BT 57.65 656.25 Td (ficer ) Tj ET Q q 0 0 0 rg BT 78.00 656.25 Td (of ) Tj ET Q q 0 0 0 rg BT 88.37 656.25 Td (Denbury) Tj ET Q q 0 0 0 rg BT 122.71 656.25 Td (, ) Tj ET Q q 0 0 0 rg BT 127.24 656.25 Td (hereby ) Tj ET Q q 0 0 0 rg BT 156.49 656.25 Td (certifies ) Tj ET Q q 0 0 0 rg BT 190.73 656.25 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 227.20 656.25 Td (to ) Tj ET Q q 0 0 0 rg BT 237.01 656.25 Td (18 ) Tj ET Q q 0 0 0 rg BT 249.05 656.25 Td (U.S.C. ) Tj ET Q q 0 0 0 rg BT 278.04 656.25 Td (Section ) Tj ET Q q 0 0 0 rg BT 310.07 656.25 Td (1350, ) Tj ET Q q 0 0 0 rg BT 334.61 656.25 Td (as ) Tj ET Q q 0 0 0 rg BT 344.97 656.25 Td (adopted ) Tj ET Q q 0 0 0 rg BT 378.67 656.25 Td (pursuant ) Tj ET Q q 0 0 0 rg BT 415.14 656.25 Td (to ) Tj ET Q q 0 0 0 rg BT 424.95 656.25 Td (Section ) Tj ET Q q 0 0 0 rg BT 456.99 656.25 Td (906 ) Tj ET Q q 0 0 0 rg BT 474.02 656.25 Td (of ) Tj ET Q q 0 0 0 rg BT 484.39 656.25 Td (the ) Tj ET Q q 0 0 0 rg BT 498.64 656.25 Td (Sarbanes-Oxley ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (Act ) Tj ET Q q 0 0 0 rg BT 66.44 644.25 Td (of ) Tj ET Q q 0 0 0 rg BT 77.27 644.25 Td (2002, ) Tj ET Q q 0 0 0 rg BT 102.27 644.25 Td (that ) Tj ET Q q 0 0 0 rg BT 119.76 644.25 Td (to ) Tj ET Q q 0 0 0 rg BT 130.04 644.25 Td (his ) Tj ET Q q 0 0 0 rg BT 144.21 644.25 Td (knowledge:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.25 Td (1. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 620.25 Td (The 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0 rg BT 67.50 608.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.25 Td (2. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 584.25 Td (information ) Tj ET Q q 0 0 0 rg BT 117.30 584.25 Td (contained ) Tj ET Q q 0 0 0 rg BT 158.76 584.25 Td (in ) Tj ET Q q 0 0 0 rg BT 169.13 584.25 Td (the ) Tj ET Q q 0 0 0 rg BT 183.94 584.25 Td (Report ) Tj ET Q q 0 0 0 rg BT 213.75 584.25 Td (fairly ) Tj ET Q q 0 0 0 rg BT 237.99 584.25 Td (presents, ) Tj ET Q q 0 0 0 rg BT 275.85 584.25 Td (in ) Tj ET Q q 0 0 0 rg BT 286.22 584.25 Td (all ) Tj ET Q q 0 0 0 rg BT 298.81 584.25 Td (material ) Tj ET Q q 0 0 0 rg BT 334.16 584.25 Td (respects, ) Tj ET Q q 0 0 0 rg BT 371.45 584.25 Td (the ) Tj ET Q q 0 0 0 rg BT 386.26 584.25 Td (financial ) Tj ET Q q 0 0 0 rg BT 423.83 584.25 Td (condition ) Tj ET Q q 0 0 0 rg BT 464.19 584.25 Td (and ) Tj ET Q q 0 0 0 rg BT 481.22 584.25 Td (results ) Tj ET Q q 0 0 0 rg BT 509.92 584.25 Td (of ) Tj ET Q q 0 0 0 rg BT 520.84 584.25 Td (operations ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 67.50 572.25 Td (of ) Tj ET Q q 0 0 0 rg BT 78.33 572.25 Td (Denbury) Tj ET Q q 0 0 0 rg BT 112.67 572.25 Td (.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 534.75 m 561.5 534.75 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 336.5 459.75 m 561.5 459.75 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.15 539.42 Td (Dated:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 539.42 Td (February 28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 539.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 539.42 Td (/s/ Christian S. Kendall) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 524.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 524.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 524.42 Td (Christian S. Kendall) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 509.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 509.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 509.42 Td (Director) Tj ET Q q 0 0 0 rg BT 372.12 509.42 Td (, President and Chief Executive Of) Tj ET Q q 0 0 0 rg BT 511.23 509.42 Td (ficer) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 479.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 479.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 448.50 479.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.15 464.42 Td (Dated:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 87.00 464.42 Td (February 28, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 335.00 464.42 Td (�) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 464.42 Td (/s/ Mark C. ) Tj ET Q q 0 0 0 rg BT 386.50 464.42 Td (Allen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 449.42 Td (Mark C. ) Tj ET Q q 0 0 0 rg BT 374.55 449.42 Td (Allen) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 434.42 Td (Executive ) Tj ET Q q 0 0 0 rg BT 381.30 434.42 Td (V) Tj ET Q q 0 0 0 rg BT 387.92 434.42 Td (ice President, Chief Financial Of) Tj ET Q q 0 0 0 rg BT 519.09 434.42 Td (ficer) Tj ET Q q 0 0 0 rg BT 537.01 434.42 Td (,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.00 424.42 Td (T) Tj ET Q q 0 0 0 rg BT 344.76 424.42 Td (reasurer) Tj ET Q q 0 0 0 rg BT 376.55 424.42 Td (, and ) Tj ET Q q 0 0 0 rg BT 397.94 424.42 Td (Assistant Secretary) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 241 0 obj <> endobj 242 0 obj <> stream BT /F2 10.00 Tf ET q 0 0 0 rg BT 518.30 740.25 Td (Exhibit 99) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 244.40 716.25 Td (DeGolyer) Tj ET Q q 0 0 0 rg BT 285.31 716.25 Td ( and MacNaughton) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 255.65 704.25 Td (5001 Spring ) Tj ET Q q 0 0 0 rg BT 307.14 704.25 Td (V) Tj ET Q q 0 0 0 rg BT 313.25 704.25 Td (alley Road) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 277.10 692.25 Td (Suite 800 East) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 265.45 680.25 Td (Dallas, ) Tj ET Q q 0 0 0 rg BT 295.82 680.25 Td (T) Tj ET Q q 0 0 0 rg BT 301.23 680.25 Td (exas 75244) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 269.20 656.25 Td (February 19, 2019) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (Denbury Resources Inc.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 620.25 Td (5320 Legacy Drive) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.25 Td (Plano, ) Tj ET Q q 0 0 0 rg BT 77.10 608.25 Td (T) Tj ET Q q 0 0 0 rg BT 82.51 608.25 Td (exas 75024) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.25 Td (Ladies and Gentlemen:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 560.25 Td (Pursuant ) Tj ET Q q 0 0 0 rg BT 123.13 560.25 Td (to ) Tj ET Q q 0 0 0 rg BT 133.53 560.25 Td (your ) Tj ET Q q 0 0 0 rg BT 154.49 560.25 Td (request, ) Tj ET Q q 0 0 0 rg BT 188.49 560.25 Td (this ) Tj ET Q q 0 0 0 rg BT 205.57 560.25 Td (report ) Tj ET Q q 0 0 0 rg BT 232.07 560.25 Td (of ) Tj ET Q q 0 0 0 rg BT 243.03 560.25 Td (third ) Tj ET Q q 0 0 0 rg BT 264.54 560.25 Td (party ) Tj ET Q q 0 0 0 rg BT 287.72 560.25 Td (presents ) Tj ET Q q 0 0 0 rg BT 323.11 560.25 Td (an ) Tj ET Q q 0 0 0 rg BT 335.18 560.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 386.68 560.25 Td (evaluation, ) Tj ET Q q 0 0 0 rg BT 433.45 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0 rg BT 434.35 536.25 Td (was ) Tj ET Q q 0 0 0 rg BT 452.99 536.25 Td (completed ) Tj ET Q q 0 0 0 rg BT 497.73 536.25 Td (on ) Tj ET Q q 0 0 0 rg BT 510.82 536.25 Td (February ) Tj ET Q q 0 0 0 rg BT 550.01 536.25 Td (19, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.25 Td (2019. ) Tj ET Q q 0 0 0 rg BT 73.75 524.25 Td (The ) Tj ET Q q 0 0 0 rg BT 91.18 524.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 133.05 524.25 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 173.25 524.25 Td (herein ) Tj ET Q q 0 0 0 rg BT 200.12 524.25 Td (are ) Tj ET Q q 0 0 0 rg BT 214.21 524.25 Td (located ) Tj ET Q q 0 0 0 rg BT 244.96 524.25 Td (in ) Tj ET Q q 0 0 0 rg BT 254.63 524.25 Td (the ) Tj ET Q q 0 0 0 rg BT 268.73 524.25 Td (States ) Tj ET Q q 0 0 0 rg BT 294.50 524.25 Td (of ) Tj ET Q q 0 0 0 rg BT 304.30 524.25 Td (Alabama, ) Tj ET Q q 0 0 0 rg BT 344.78 524.25 Td (Louisiana, ) Tj ET Q q 0 0 0 rg BT 388.60 524.25 Td (Mississippi, ) Tj ET Q q 0 0 0 rg BT 438.55 524.25 Td (Montana, ) Tj ET Q q 0 0 0 rg BT 478.48 524.25 Td (North ) Tj ET Q q 0 0 0 rg BT 503.70 524.25 Td (Dakota, ) Tj ET Q q 0 0 0 rg BT 536.82 524.25 Td (T) Tj ET Q q 0 0 0 rg BT 542.23 524.25 Td (exas, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.25 Td (and ) Tj ET Q q 0 0 0 rg BT 65.85 512.25 Td (W) Tj ET Q q 0 0 0 rg BT 74.68 512.25 Td (yoming. ) Tj ET Q q 0 0 0 rg BT 109.80 512.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 146.85 512.25 Td (has ) Tj ET Q q 0 0 0 rg BT 162.23 512.25 Td (represented ) Tj ET Q q 0 0 0 rg BT 210.37 512.25 Td (that ) Tj ET Q q 0 0 0 rg BT 227.43 512.25 Td (these ) Tj ET Q q 0 0 0 rg BT 250.03 512.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 292.07 512.25 Td (account ) Tj ET Q q 0 0 0 rg BT 325.22 512.25 Td (for ) Tj ET Q q 0 0 0 rg BT 338.94 512.25 Td (100 ) Tj ET Q q 0 0 0 rg BT 356.00 512.25 Td (percent ) Tj ET Q q 0 0 0 rg BT 387.48 512.25 Td (on ) Tj ET Q q 0 0 0 rg BT 399.54 512.25 Td (a ) Tj ET Q q 0 0 0 rg BT 406.03 512.25 Td (net ) Tj ET Q q 0 0 0 rg BT 420.31 512.25 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 464.01 512.25 Td (barrel ) Tj ET Q q 0 0 0 rg BT 489.39 512.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 511.44 512.25 Td (of ) Tj ET Q q 0 0 0 rg BT 521.83 512.25 Td (Denbury's ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.25 Td (net ) Tj ET Q q 0 0 0 rg BT 63.41 500.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 92.88 500.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 127.33 500.25 Td (as ) Tj ET Q q 0 0 0 rg BT 137.36 500.25 Td (of ) Tj ET Q q 0 0 0 rg BT 147.38 500.25 Td (December ) Tj ET Q q 0 0 0 rg BT 190.16 500.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 204.36 500.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 228.43 500.25 Td (The ) Tj ET Q q 0 0 0 rg BT 245.67 500.25 Td (net ) Tj ET Q q 0 0 0 rg BT 259.59 500.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 289.05 500.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 323.51 500.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 362.41 500.25 Td (have ) Tj ET Q q 0 0 0 rg BT 382.99 500.25 Td (been ) Tj ET Q q 0 0 0 rg BT 403.56 500.25 Td (prepared ) Tj ET Q q 0 0 0 rg BT 440.23 500.25 Td (in ) Tj ET Q q 0 0 0 rg BT 449.71 500.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 496.36 500.25 Td (with ) Tj ET Q q 0 0 0 rg BT 515.84 500.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.75 500.25 Td (reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.25 Td (definitions ) Tj ET Q q 0 0 0 rg BT 94.84 488.25 Td (of ) Tj ET Q q 0 0 0 rg BT 105.73 488.25 Td (Rules ) Tj ET Q q 0 0 0 rg BT 131.08 488.25 Td (4-10\(a\) ) Tj ET Q q 0 0 0 rg BT 163.07 488.25 Td (\(1\)-\(32\) ) Tj ET Q q 0 0 0 rg BT 197.29 488.25 Td (of ) Tj ET Q q 0 0 0 rg BT 208.18 488.25 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 254.63 488.25 Td (S-X ) Tj ET Q q 0 0 0 rg BT 273.31 488.25 Td (of ) Tj ET Q q 0 0 0 rg BT 284.20 488.25 Td (the ) Tj ET Q q 0 0 0 rg BT 298.98 488.25 Td (Securities ) Tj ET Q q 0 0 0 rg BT 340.98 488.25 Td (and ) Tj ET Q q 0 0 0 rg BT 357.98 488.25 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 399.97 488.25 Td (Commission ) Tj ET Q q 0 0 0 rg BT 453.10 488.25 Td (\(SEC\) ) Tj ET Q q 0 0 0 rg BT 480.67 488.25 Td (of ) Tj ET Q q 0 0 0 rg BT 491.56 488.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.35 488.25 Td (United ) Tj ET Q q 0 0 0 rg BT 536.13 488.25 Td (States. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.25 Td (This ) Tj ET Q q 0 0 0 rg BT 70.66 476.25 Td (report ) Tj ET Q q 0 0 0 rg BT 97.92 476.25 Td (was ) Tj ET Q q 0 0 0 rg BT 116.85 476.25 Td (prepared ) Tj ET Q q 0 0 0 rg BT 155.20 476.25 Td (in ) Tj ET Q q 0 0 0 rg BT 166.36 476.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 214.70 476.25 Td (with ) Tj ET Q q 0 0 0 rg BT 235.86 476.25 Td (guidelines ) Tj ET Q q 0 0 0 rg BT 280.35 476.25 Td (specified ) Tj ET Q q 0 0 0 rg BT 319.82 476.25 Td (in ) Tj ET Q q 0 0 0 rg BT 330.98 476.25 Td (Item ) Tj ET Q q 0 0 0 rg BT 352.69 476.25 Td (1202\(a\)\(8\) ) Tj ET Q q 0 0 0 rg BT 398.82 476.25 Td (of ) Tj ET Q q 0 0 0 rg BT 410.53 476.25 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 457.80 476.25 Td (S-K ) Tj ET Q q 0 0 0 rg BT 477.29 476.25 Td (and ) Tj ET Q q 0 0 0 rg BT 495.11 476.25 Td (is ) Tj ET Q q 0 0 0 rg BT 505.16 476.25 Td (to ) Tj ET Q q 0 0 0 rg BT 516.32 476.25 Td (be ) Tj ET Q q 0 0 0 rg BT 529.14 476.25 Td (used ) Tj ET Q q 0 0 0 rg BT 550.85 476.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.25 Td (inclusion ) Tj ET Q q 0 0 0 rg BT 88.67 464.25 Td (in ) Tj ET Q q 0 0 0 rg BT 98.94 464.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 128.65 464.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 149.49 464.25 Td (filings ) Tj ET Q q 0 0 0 rg BT 177.54 464.25 Td (by ) Tj ET Q q 0 0 0 rg BT 190.04 464.25 Td (Denbury) Tj ET Q q 0 0 0 rg BT 224.38 464.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 440.25 Td (While ) Tj ET Q q 0 0 0 rg BT 113.07 440.25 Td (Rules ) Tj ET Q q 0 0 0 rg BT 138.99 440.25 Td (4-10\(a\) ) Tj ET Q q 0 0 0 rg BT 171.56 440.25 Td (\(1\)-\(32\) ) Tj ET Q q 0 0 0 rg BT 206.35 440.25 Td (of ) Tj ET Q q 0 0 0 rg BT 217.81 440.25 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 264.83 440.25 Td (S-X ) Tj ET Q q 0 0 0 rg BT 284.09 440.25 Td (of ) Tj ET Q q 0 0 0 rg BT 295.56 440.25 Td (the ) Tj ET Q q 0 0 0 rg BT 310.91 440.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 332.39 440.25 Td (do ) Tj ET Q q 0 0 0 rg BT 345.53 440.25 Td (not ) Tj ET Q q 0 0 0 rg BT 361.45 440.25 Td (allow ) Tj ET Q q 0 0 0 rg BT 386.80 440.25 Td (the ) Tj ET Q q 0 0 0 rg BT 402.16 440.25 Td (reporting ) Tj ET Q q 0 0 0 rg BT 441.95 440.25 Td (of ) Tj ET Q q 0 0 0 rg BT 453.42 440.25 Td (carbon ) Tj ET Q q 0 0 0 rg BT 483.76 440.25 Td (dioxide ) Tj ET Q q 0 0 0 rg BT 516.90 440.25 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 555.30 440.25 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 428.25 Td (Denbury's ) Tj ET Q q 0 0 0 rg BT 92.11 428.25 Td (request ) Tj ET Q q 0 0 0 rg BT 122.92 428.25 Td (carbon ) Tj ET Q q 0 0 0 rg BT 152.06 428.25 Td (dioxide ) Tj ET Q q 0 0 0 rg BT 183.98 428.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 218.67 428.25 Td (have ) Tj ET Q q 0 0 0 rg BT 239.48 428.25 Td (been ) Tj ET Q q 0 0 0 rg BT 260.29 428.25 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 300.53 428.25 Td (using ) Tj ET Q q 0 0 0 rg BT 324.13 428.25 Td (the ) Tj ET Q q 0 0 0 rg BT 338.27 428.25 Td (technical ) Tj ET Q q 0 0 0 rg BT 376.29 428.25 Td (and ) Tj ET Q q 0 0 0 rg BT 392.66 428.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 433.46 428.25 Td (criteria ) Tj ET Q q 0 0 0 rg BT 463.71 428.25 Td (of ) Tj ET Q q 0 0 0 rg BT 473.97 428.25 Td (the ) Tj ET Q q 0 0 0 rg BT 488.11 428.25 Td (SEC ) Tj ET Q q 0 0 0 rg BT 508.38 428.25 Td (for ) Tj ET Q q 0 0 0 rg BT 521.97 428.25 Td (petroleum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.25 Td (reserves.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 392.25 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 122.86 392.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 161.33 392.25 Td (included ) Tj ET Q q 0 0 0 rg BT 197.02 392.25 Td (herein ) Tj ET Q q 0 0 0 rg BT 223.26 392.25 Td (are ) Tj ET Q q 0 0 0 rg BT 236.72 392.25 Td (expressed ) Tj ET Q q 0 0 0 rg BT 277.41 392.25 Td (as ) Tj ET Q q 0 0 0 rg BT 287.00 392.25 Td (net ) Tj ET Q q 0 0 0 rg BT 300.47 392.25 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 336.99 392.25 Td (Gross ) Tj ET Q q 0 0 0 rg BT 361.58 392.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 395.60 392.25 Td (are ) Tj ET Q q 0 0 0 rg BT 409.06 392.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 440.30 392.25 Td (as ) Tj ET Q q 0 0 0 rg BT 449.89 392.25 Td (the ) Tj ET Q q 0 0 0 rg BT 463.36 392.25 Td (total ) Tj ET Q q 0 0 0 rg BT 482.39 392.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 521.97 392.25 Td (petroleum ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.25 Td (remaining ) Tj ET Q q 0 0 0 rg BT 93.06 380.25 Td (to ) Tj ET Q q 0 0 0 rg BT 103.86 380.25 Td (be ) Tj ET Q q 0 0 0 rg BT 116.32 380.25 Td (produced ) Tj ET Q q 0 0 0 rg BT 156.55 380.25 Td (from ) Tj ET Q q 0 0 0 rg BT 179.00 380.25 Td (these ) Tj ET Q q 0 0 0 rg BT 202.57 380.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 245.58 380.25 Td (after ) Tj ET Q q 0 0 0 rg BT 266.91 380.25 Td (December ) Tj ET Q q 0 0 0 rg BT 311.02 380.25 Td (31, ) Tj ET Q q 0 0 0 rg BT 326.54 380.25 Td (2018. ) Tj ET Q q 0 0 0 rg BT 352.06 380.25 Td (Net ) Tj ET Q q 0 0 0 rg BT 369.51 380.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 405.29 380.25 Td (are ) Tj ET Q q 0 0 0 rg BT 420.52 380.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 453.53 380.25 Td (as ) Tj ET Q q 0 0 0 rg BT 464.88 380.25 Td (that ) Tj ET Q q 0 0 0 rg BT 482.89 380.25 Td (portion ) Tj ET Q q 0 0 0 rg BT 514.80 380.25 Td (of ) Tj ET Q q 0 0 0 rg BT 526.15 380.25 Td (the ) Tj ET Q q 0 0 0 rg BT 541.38 380.25 Td (gross ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 84.76 368.25 Td (attributable ) Tj ET Q q 0 0 0 rg BT 132.80 368.25 Td (to ) Tj ET Q q 0 0 0 rg BT 143.07 368.25 Td (the ) Tj ET Q q 0 0 0 rg BT 157.79 368.25 Td (interests ) Tj ET Q q 0 0 0 rg BT 193.62 368.25 Td (held ) Tj ET Q q 0 0 0 rg BT 213.33 368.25 Td (by ) Tj ET Q q 0 0 0 rg BT 225.83 368.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 263.32 368.25 Td (after ) Tj ET Q q 0 0 0 rg BT 284.14 368.25 Td (deducting ) Tj ET Q q 0 0 0 rg BT 326.07 368.25 Td (all ) Tj ET Q q 0 0 0 rg BT 338.57 368.25 Td (interests ) Tj ET Q q 0 0 0 rg BT 374.39 368.25 Td (held ) Tj ET Q q 0 0 0 rg BT 394.11 368.25 Td (by ) Tj ET Q q 0 0 0 rg BT 406.61 368.25 Td (others.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 344.25 Td (V) Tj ET Q q 0 0 0 rg BT 91.61 344.25 Td (alues ) Tj ET Q q 0 0 0 rg BT 114.76 344.25 Td (for ) Tj ET Q q 0 0 0 rg BT 129.02 344.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 159.39 344.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 194.75 344.25 Td (in ) Tj ET Q q 0 0 0 rg BT 205.13 344.25 Td (this ) Tj ET Q q 0 0 0 rg BT 222.17 344.25 Td (report ) Tj ET Q q 0 0 0 rg BT 248.65 344.25 Td (are ) Tj ET Q q 0 0 0 rg BT 263.46 344.25 Td (expressed ) Tj ET Q q 0 0 0 rg BT 305.49 344.25 Td (in ) Tj ET Q q 0 0 0 rg BT 315.87 344.25 Td (terms ) Tj ET Q q 0 0 0 rg BT 340.68 344.25 Td (of ) Tj ET Q q 0 0 0 rg BT 351.61 344.25 Td (future ) Tj ET Q q 0 0 0 rg BT 378.09 344.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 401.80 344.25 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 438.55 344.25 Td (future ) Tj ET Q q 0 0 0 rg BT 465.03 344.25 Td (net ) Tj ET Q q 0 0 0 rg BT 479.84 344.25 Td (revenue, ) Tj ET Q q 0 0 0 rg BT 516.59 344.25 Td (and ) Tj ET Q q 0 0 0 rg BT 533.63 344.25 Td (present ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.25 Td (worth. ) Tj ET Q q 0 0 0 rg BT 78.03 332.25 Td (Future ) Tj ET Q q 0 0 0 rg BT 106.84 332.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 130.65 332.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 165.00 332.25 Td (is ) Tj ET Q q 0 0 0 rg BT 174.37 332.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 207.05 332.25 Td (as ) Tj ET Q q 0 0 0 rg BT 218.08 332.25 Td (that ) Tj ET Q q 0 0 0 rg BT 235.78 332.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 270.13 332.25 Td (which ) Tj ET Q q 0 0 0 rg BT 297.26 332.25 Td (will ) Tj ET Q q 0 0 0 rg BT 315.52 332.25 Td (accrue ) Tj ET Q q 0 0 0 rg BT 344.30 332.25 Td (to ) Tj ET Q q 0 0 0 rg BT 354.78 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 369.70 332.25 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 410.71 332.25 Td (interests ) Tj ET Q q 0 0 0 rg BT 446.74 332.25 Td (from ) Tj ET Q q 0 0 0 rg BT 468.88 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 483.79 332.25 Td (production ) Tj ET Q q 0 0 0 rg BT 529.82 332.25 Td (and ) Tj ET Q q 0 0 0 rg BT 546.96 332.25 Td (sale ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.01 320.25 Td (the ) Tj ET Q q 0 0 0 rg BT 74.42 320.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 114.92 320.25 Td (net ) Tj ET Q q 0 0 0 rg BT 129.32 320.25 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 166.76 320.25 Td (Future ) Tj ET Q q 0 0 0 rg BT 195.06 320.25 Td (net ) Tj ET Q q 0 0 0 rg BT 209.46 320.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 243.29 320.25 Td (is ) Tj ET Q q 0 0 0 rg BT 252.14 320.25 Td (calculated ) Tj ET Q q 0 0 0 rg BT 294.85 320.25 Td (by ) Tj ET Q q 0 0 0 rg BT 307.04 320.25 Td (deducting ) Tj ET Q q 0 0 0 rg BT 348.65 320.25 Td (net ) Tj ET Q q 0 0 0 rg BT 363.05 320.25 Td (profits ) Tj ET Q q 0 0 0 rg BT 391.35 320.25 Td (interest ) Tj ET Q q 0 0 0 rg BT 422.96 320.25 Td (\(NPI\) ) Tj ET Q q 0 0 0 rg BT 447.92 320.25 Td (payments, ) Tj ET Q q 0 0 0 rg BT 490.93 320.25 Td (production ) Tj ET Q q 0 0 0 rg BT 536.44 320.25 Td (and ) Tj ET Q q 0 0 0 rg BT 553.06 320.25 Td (ad ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.25 Td (valorem ) Tj ET Q q 0 0 0 rg BT 84.88 308.25 Td (taxes, ) Tj ET Q q 0 0 0 rg BT 110.55 308.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 150.93 308.25 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 192.15 308.25 Td (capital ) Tj ET Q q 0 0 0 rg BT 221.42 308.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 246.54 308.25 Td (and ) Tj ET Q q 0 0 0 rg BT 263.59 308.25 Td (abandonment ) Tj ET Q q 0 0 0 rg BT 320.08 308.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 342.70 308.25 Td (from ) Tj ET Q q 0 0 0 rg BT 364.76 308.25 Td (future ) Tj ET Q q 0 0 0 rg BT 391.25 308.25 Td (gross ) Tj ET Q q 0 0 0 rg BT 414.99 308.25 Td (revenue. ) Tj ET Q q 0 0 0 rg BT 451.75 308.25 Td (Operating ) Tj ET Q q 0 0 0 rg BT 494.35 308.25 Td (expenses ) Tj ET Q q 0 0 0 rg BT 533.07 308.25 Td (include ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.25 Td (field ) Tj ET Q q 0 0 0 rg BT 70.07 296.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 110.08 296.25 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 150.93 296.25 Td (transportation ) Tj ET Q q 0 0 0 rg BT 208.72 296.25 Td (and ) Tj ET Q q 0 0 0 rg BT 225.41 296.25 Td (processing ) Tj ET Q q 0 0 0 rg BT 270.42 296.25 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 311.27 296.25 Td (and ) Tj ET Q q 0 0 0 rg BT 327.95 296.25 Td (an ) Tj ET Q q 0 0 0 rg BT 339.64 296.25 Td (allocation ) Tj ET Q q 0 0 0 rg BT 381.32 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 391.89 296.25 Td (overhead ) Tj ET Q q 0 0 0 rg BT 430.79 296.25 Td (that ) Tj ET Q q 0 0 0 rg BT 448.03 296.25 Td (directly ) Tj ET Q q 0 0 0 rg BT 480.82 296.25 Td (relates ) Tj ET Q q 0 0 0 rg BT 509.16 296.25 Td (to ) Tj ET Q q 0 0 0 rg BT 519.19 296.25 Td (production ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 284.25 Td (activities. ) Tj ET Q q 0 0 0 rg BT 90.20 284.25 Td (Capital ) Tj ET Q q 0 0 0 rg BT 121.18 284.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 143.28 284.25 Td (include ) Tj ET Q q 0 0 0 rg BT 174.81 284.25 Td (drilling ) Tj ET Q q 0 0 0 rg BT 206.36 284.25 Td (and ) Tj ET Q q 0 0 0 rg BT 222.89 284.25 Td (completion ) Tj ET Q q 0 0 0 rg BT 269.98 284.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 294.58 284.25 Td (facilities ) Tj ET Q q 0 0 0 rg BT 331.11 284.25 Td (costs, ) Tj ET Q q 0 0 0 rg BT 355.71 284.25 Td (and ) Tj ET Q q 0 0 0 rg BT 372.25 284.25 Td (field ) Tj ET Q q 0 0 0 rg BT 392.67 284.25 Td (maintenance ) Tj ET Q q 0 0 0 rg BT 445.30 284.25 Td (costs. ) Tj ET Q q 0 0 0 rg BT 469.44 284.25 Td (Abandonment ) Tj ET Q q 0 0 0 rg BT 528.19 284.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 550.29 284.25 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 272.25 Td (represented ) Tj ET Q q 0 0 0 rg BT 97.33 272.25 Td (by ) Tj ET Q q 0 0 0 rg BT 109.07 272.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 145.81 272.25 Td (to ) Tj ET Q q 0 0 0 rg BT 155.33 272.25 Td (be ) Tj ET Q q 0 0 0 rg BT 166.51 272.25 Td (inclusive ) Tj ET Q q 0 0 0 rg BT 204.36 272.25 Td (of ) Tj ET Q q 0 0 0 rg BT 214.44 272.25 Td (those ) Tj ET Q q 0 0 0 rg BT 237.29 272.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 259.03 272.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 301.87 272.25 Td (with ) Tj ET Q q 0 0 0 rg BT 321.40 272.25 Td (the ) Tj ET Q q 0 0 0 rg BT 335.36 272.25 Td (removal ) Tj ET Q q 0 0 0 rg BT 369.87 272.25 Td (of ) Tj ET Q q 0 0 0 rg BT 379.94 272.25 Td (equipment, ) Tj ET Q q 0 0 0 rg BT 426.40 272.25 Td (plugging ) Tj ET Q q 0 0 0 rg BT 463.70 272.25 Td (of ) Tj ET Q q 0 0 0 rg BT 473.77 272.25 Td (wells, ) Tj ET Q q 0 0 0 rg BT 499.13 272.25 Td (and ) Tj ET Q q 0 0 0 rg BT 515.31 272.25 Td (reclamation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.25 Td (and ) Tj ET Q q 0 0 0 rg BT 66.60 260.25 Td (restoration ) Tj ET Q q 0 0 0 rg BT 112.02 260.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 155.77 260.25 Td (with ) Tj ET Q q 0 0 0 rg BT 176.21 260.25 Td (the ) Tj ET Q q 0 0 0 rg BT 191.08 260.25 Td (abandonment. ) Tj ET Q q 0 0 0 rg BT 249.53 260.25 Td (At ) Tj ET Q q 0 0 0 rg BT 262.19 260.25 Td (the ) Tj ET Q q 0 0 0 rg BT 277.06 260.25 Td (request ) Tj ET Q q 0 0 0 rg BT 308.60 260.25 Td (of ) Tj ET Q q 0 0 0 rg BT 319.59 260.25 Td (Denbury) Tj ET Q q 0 0 0 rg BT 353.93 260.25 Td (, ) Tj ET Q q 0 0 0 rg BT 359.09 260.25 Td (future ) Tj ET Q q 0 0 0 rg BT 385.62 260.25 Td (income ) Tj ET Q q 0 0 0 rg BT 417.71 260.25 Td (taxes ) Tj ET Q q 0 0 0 rg BT 440.92 260.25 Td (were ) Tj ET Q q 0 0 0 rg BT 463.01 260.25 Td (not ) Tj ET Q q 0 0 0 rg BT 478.44 260.25 Td (taken ) Tj ET Q q 0 0 0 rg BT 502.76 260.25 Td (into ) Tj ET Q q 0 0 0 rg BT 520.97 260.25 Td (account ) Tj ET Q q 0 0 0 rg BT 554.73 260.25 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.25 Td (the ) Tj ET Q q 0 0 0 rg BT 63.95 248.25 Td (preparation ) Tj ET Q q 0 0 0 rg BT 111.71 248.25 Td (of ) Tj ET Q q 0 0 0 rg BT 122.27 248.25 Td (these ) Tj ET Q q 0 0 0 rg BT 145.04 248.25 Td (estimates. ) Tj ET Q q 0 0 0 rg BT 186.98 248.25 Td (Present ) Tj ET Q q 0 0 0 rg BT 218.65 248.25 Td (worth ) Tj ET Q q 0 0 0 rg BT 244.21 248.25 Td (is ) Tj ET Q q 0 0 0 rg BT 253.11 248.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 285.32 248.25 Td (as ) Tj ET Q q 0 0 0 rg BT 295.88 248.25 Td (future ) Tj ET Q q 0 0 0 rg BT 321.99 248.25 Td (net ) Tj ET Q q 0 0 0 rg BT 336.43 248.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 370.31 248.25 Td (discounted ) Tj ET Q q 0 0 0 rg BT 415.86 248.25 Td (at ) Tj ET Q q 0 0 0 rg BT 425.31 248.25 Td (the ) Tj ET Q q 0 0 0 rg BT 439.75 248.25 Td (arbitrary ) Tj ET Q q 0 0 0 rg BT 476.41 248.25 Td (nominal ) Tj ET Q q 0 0 0 rg BT 511.41 248.25 Td (discount ) Tj ET Q q 0 0 0 rg BT 547.52 248.25 Td (rate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.00 236.25 Td (10 ) Tj ET Q q 0 0 0 rg BT 72.18 236.25 Td (percent ) Tj ET Q q 0 0 0 rg BT 103.77 236.25 Td (per ) Tj ET Q q 0 0 0 rg BT 118.71 236.25 Td (year ) Tj ET Q q 0 0 0 rg BT 138.09 236.25 Td (compounded ) Tj ET Q q 0 0 0 rg BT 191.92 236.25 Td (monthly ) Tj ET Q q 0 0 0 rg BT 227.43 236.25 Td (over ) Tj ET Q q 0 0 0 rg BT 247.37 236.25 Td (the ) Tj ET Q q 0 0 0 rg BT 261.76 236.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 299.47 236.25 Td (period ) Tj ET Q q 0 0 0 rg BT 327.19 236.25 Td (of ) Tj ET Q q 0 0 0 rg BT 337.69 236.25 Td (realization. ) Tj ET Q q 0 0 0 rg BT 384.56 236.25 Td (Present ) Tj ET Q q 0 0 0 rg BT 416.17 236.25 Td (worth ) Tj ET Q q 0 0 0 rg BT 441.67 236.25 Td (should ) Tj ET Q q 0 0 0 rg BT 470.52 236.25 Td (not ) Tj ET Q q 0 0 0 rg BT 485.47 236.25 Td (be ) Tj ET Q q 0 0 0 rg BT 497.08 236.25 Td (construed ) Tj ET Q q 0 0 0 rg BT 538.13 236.25 Td (as ) Tj ET Q q 0 0 0 rg BT 548.63 236.25 Td (fair ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.25 Td (market ) Tj ET Q q 0 0 0 rg BT 79.42 224.25 Td (value ) Tj ET Q q 0 0 0 rg BT 103.23 224.25 Td (because ) Tj ET Q q 0 0 0 rg BT 137.03 224.25 Td (no ) Tj ET Q q 0 0 0 rg BT 149.19 224.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 205.22 224.25 Td (was ) Tj ET Q q 0 0 0 rg BT 222.92 224.25 Td (given ) Tj ET Q q 0 0 0 rg BT 247.30 224.25 Td (to ) Tj ET Q q 0 0 0 rg BT 257.23 224.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 299.38 224.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 328.74 224.25 Td (that ) Tj ET Q q 0 0 0 rg BT 345.89 224.25 Td (influence ) Tj ET Q q 0 0 0 rg BT 385.25 224.25 Td (the ) Tj ET Q q 0 0 0 rg BT 399.62 224.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 425.65 224.25 Td (at ) Tj ET Q q 0 0 0 rg BT 435.02 224.25 Td (which ) Tj ET Q q 0 0 0 rg BT 461.62 224.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 503.76 224.25 Td (are ) Tj ET Q q 0 0 0 rg BT 518.12 224.25 Td (bought ) Tj ET Q q 0 0 0 rg BT 548.06 224.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 212.25 Td (sold.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 188.25 Td (Estimates ) Tj ET Q q 0 0 0 rg BT 128.04 188.25 Td (of ) Tj ET Q q 0 0 0 rg BT 140.02 188.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 176.44 188.25 Td (and ) Tj ET Q q 0 0 0 rg BT 194.53 188.25 Td (revenue ) Tj ET Q q 0 0 0 rg BT 229.84 188.25 Td (should ) Tj ET Q q 0 0 0 rg BT 260.16 188.25 Td (be ) Tj ET Q q 0 0 0 rg BT 273.26 188.25 Td (regarded ) Tj ET Q q 0 0 0 rg BT 311.89 188.25 Td (only ) Tj ET Q q 0 0 0 rg BT 333.32 188.25 Td (as ) Tj ET Q q 0 0 0 rg BT 345.31 188.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 386.18 188.25 Td (that ) Tj ET Q q 0 0 0 rg BT 404.83 188.25 Td (may ) Tj ET Q q 0 0 0 rg BT 425.70 188.25 Td (change ) Tj ET Q q 0 0 0 rg BT 457.67 188.25 Td (as ) Tj ET Q q 0 0 0 rg BT 469.66 188.25 Td (production ) Tj ET Q q 0 0 0 rg BT 516.64 188.25 Td (history ) Tj ET Q q 0 0 0 rg BT 548.08 188.25 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.25 Td (additional ) Tj ET Q q 0 0 0 rg BT 91.96 176.25 Td (information ) Tj ET Q q 0 0 0 rg BT 141.65 176.25 Td (become ) Tj ET Q q 0 0 0 rg BT 175.22 176.25 Td (available. ) Tj ET Q q 0 0 0 rg BT 216.28 176.25 Td (Not ) Tj ET Q q 0 0 0 rg BT 233.75 176.25 Td (only ) Tj ET Q q 0 0 0 rg BT 254.00 176.25 Td (are ) Tj ET Q q 0 0 0 rg BT 268.68 176.25 Td (such ) Tj ET Q q 0 0 0 rg BT 289.49 176.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 329.17 176.25 Td (based ) Tj ET Q q 0 0 0 rg BT 354.41 176.25 Td (on ) Tj ET Q q 0 0 0 rg BT 366.89 176.25 Td (that ) Tj ET Q q 0 0 0 rg BT 384.35 176.25 Td (information ) Tj ET Q q 0 0 0 rg BT 434.04 176.25 Td (which ) Tj ET Q q 0 0 0 rg BT 460.95 176.25 Td (is ) Tj ET Q q 0 0 0 rg BT 470.09 176.25 Td (currently ) Tj ET Q q 0 0 0 rg BT 508.66 176.25 Td (available, ) Tj ET Q q 0 0 0 rg BT 549.72 176.25 Td (but ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.25 Td (such ) Tj ET Q q 0 0 0 rg BT 69.47 164.25 Td (estimates ) Tj ET Q q 0 0 0 rg BT 108.33 164.25 Td (are ) Tj ET Q q 0 0 0 rg BT 122.18 164.25 Td (also ) Tj ET Q q 0 0 0 rg BT 139.93 164.25 Td (subject ) Tj ET Q q 0 0 0 rg BT 169.89 164.25 Td (to ) Tj ET Q q 0 0 0 rg BT 179.31 164.25 Td (the ) Tj ET Q q 0 0 0 rg BT 193.17 164.25 Td (uncertainties ) Tj ET Q q 0 0 0 rg BT 245.90 164.25 Td (inherent ) Tj ET Q q 0 0 0 rg BT 280.31 164.25 Td (in ) Tj ET Q q 0 0 0 rg BT 289.73 164.25 Td (the ) Tj ET Q q 0 0 0 rg BT 303.59 164.25 Td (application ) Tj ET Q q 0 0 0 rg BT 349.66 164.25 Td (of ) Tj ET Q q 0 0 0 rg BT 359.63 164.25 Td (judgmental ) Tj ET Q q 0 0 0 rg BT 406.26 164.25 Td (factors ) Tj ET Q q 0 0 0 rg BT 435.11 164.25 Td (in ) Tj ET Q q 0 0 0 rg BT 444.53 164.25 Td (interpreting ) Tj ET Q q 0 0 0 rg BT 492.83 164.25 Td (such ) Tj ET Q q 0 0 0 rg BT 512.80 164.25 Td (information.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 140.25 Td (Information ) Tj ET Q q 0 0 0 rg BT 135.31 140.25 Td (used ) Tj ET Q q 0 0 0 rg BT 155.69 140.25 Td (in ) Tj ET Q q 0 0 0 rg BT 165.52 140.25 Td (the ) Tj ET Q q 0 0 0 rg BT 179.78 140.25 Td (preparation ) Tj ET Q q 0 0 0 rg BT 227.36 140.25 Td (of ) Tj ET Q q 0 0 0 rg BT 237.74 140.25 Td (this ) Tj ET Q q 0 0 0 rg BT 254.24 140.25 Td (report ) Tj ET Q q 0 0 0 rg BT 280.16 140.25 Td (was ) Tj ET Q q 0 0 0 rg BT 297.76 140.25 Td (obtained ) Tj ET Q q 0 0 0 rg BT 334.25 140.25 Td (from ) Tj ET Q q 0 0 0 rg BT 355.73 140.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 392.77 140.25 Td (and ) Tj ET Q q 0 0 0 rg BT 409.26 140.25 Td (from ) Tj ET Q q 0 0 0 rg BT 430.74 140.25 Td (public ) Tj ET Q q 0 0 0 rg BT 457.79 140.25 Td (sources. ) Tj ET Q q 0 0 0 rg BT 492.33 140.25 Td (In ) Tj ET Q q 0 0 0 rg BT 502.70 140.25 Td (the ) Tj ET Q q 0 0 0 rg BT 516.97 140.25 Td (preparation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.25 Td (of ) Tj ET Q q 0 0 0 rg BT 59.64 128.25 Td (this ) Tj ET Q q 0 0 0 rg BT 75.90 128.25 Td (report ) Tj ET Q q 0 0 0 rg BT 101.59 128.25 Td (we ) Tj ET Q q 0 0 0 rg BT 115.06 128.25 Td (have ) Tj ET Q q 0 0 0 rg BT 135.75 128.25 Td (relied, ) Tj ET Q q 0 0 0 rg BT 162.82 128.25 Td (without ) Tj ET Q q 0 0 0 rg BT 195.19 128.25 Td (independent ) Tj ET Q q 0 0 0 rg BT 245.87 128.25 Td (verification, ) Tj ET Q q 0 0 0 rg BT 296.27 128.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 318.08 128.25 Td (information ) Tj ET Q q 0 0 0 rg BT 367.10 128.25 Td (furnished ) Tj ET Q q 0 0 0 rg BT 406.68 128.25 Td (by ) Tj ET Q q 0 0 0 rg BT 418.49 128.25 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 455.29 128.25 Td (with ) Tj ET Q q 0 0 0 rg BT 474.88 128.25 Td (respect ) Tj ET Q q 0 0 0 rg BT 505.01 128.25 Td (to ) Tj ET Q q 0 0 0 rg BT 514.60 128.25 Td (the ) Tj ET Q q 0 0 0 rg BT 528.62 128.25 Td (property ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 116.25 Td (interests ) Tj ET Q q 0 0 0 rg BT 84.10 116.25 Td (being ) Tj ET Q q 0 0 0 rg BT 107.59 116.25 Td (evaluated, ) Tj ET Q q 0 0 0 rg BT 149.68 116.25 Td (production ) Tj ET Q q 0 0 0 rg BT 194.28 116.25 Td (from ) Tj ET Q q 0 0 0 rg BT 214.99 116.25 Td (such ) Tj ET Q q 0 0 0 rg BT 234.59 116.25 Td (properties, ) Tj ET Q q 0 0 0 rg BT 278.35 116.25 Td (current ) Tj ET Q q 0 0 0 rg BT 307.94 116.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 329.22 116.25 Td (of ) Tj ET Q q 0 0 0 rg BT 338.82 116.25 Td (operation ) Tj ET Q q 0 0 0 rg BT 377.86 116.25 Td (and ) Tj ET Q q 0 0 0 rg BT 393.57 116.25 Td (development, ) Tj ET Q q 0 0 0 rg BT 449.00 116.25 Td (current ) Tj ET Q q 0 0 0 rg BT 478.59 116.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 503.74 116.25 Td (for ) Tj ET Q q 0 0 0 rg BT 516.67 116.25 Td (production, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 104.25 Td (agreements ) Tj ET Q q 0 0 0 rg BT 98.34 104.25 Td (relating ) Tj ET Q q 0 0 0 rg BT 132.19 104.25 Td (to ) Tj ET Q q 0 0 0 rg BT 143.28 104.25 Td (current ) Tj ET Q q 0 0 0 rg BT 174.91 104.25 Td (and ) Tj ET Q q 0 0 0 rg BT 192.65 104.25 Td (future ) Tj ET Q q 0 0 0 rg BT 219.84 104.25 Td (operations ) Tj ET Q q 0 0 0 rg BT 264.81 104.25 Td (and ) Tj ET Q q 0 0 0 rg BT 282.55 104.25 Td (sale ) Tj ET Q q 0 0 0 rg BT 301.41 104.25 Td (of ) Tj ET Q q 0 0 0 rg BT 313.05 104.25 Td (production, ) Tj ET Q q 0 0 0 rg BT 362.18 104.25 Td (and ) Tj ET Q q 0 0 0 rg BT 379.93 104.25 Td (various ) Tj ET Q q 0 0 0 rg BT 412.68 104.25 Td (other ) Tj ET Q q 0 0 0 rg BT 436.54 104.25 Td (information ) Tj ET Q q 0 0 0 rg BT 487.06 104.25 Td (and ) Tj ET Q q 0 0 0 rg BT 504.81 104.25 Td (data ) Tj ET Q q 0 0 0 rg BT 524.77 104.25 Td (that ) Tj ET Q q 0 0 0 rg BT 543.08 104.25 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.25 Td (accepted ) Tj ET Q q 0 0 0 rg BT 86.97 92.25 Td (as ) Tj ET Q q 0 0 0 rg BT 97.80 92.25 Td (represented. ) Tj ET Q q 0 0 0 rg BT 148.33 92.25 Td (A) Tj ET Q q 0 0 0 rg BT 155.00 92.25 Td ( ) Tj ET Q q 0 0 0 rg BT 157.50 92.25 Td (field ) Tj ET Q q 0 0 0 rg BT 178.33 92.25 Td (examination ) Tj ET Q q 0 0 0 rg BT 230.26 92.25 Td (of ) Tj ET Q q 0 0 0 rg BT 241.09 92.25 Td (the ) Tj ET Q q 0 0 0 rg BT 255.80 92.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 298.29 92.25 Td (was ) Tj ET Q q 0 0 0 rg BT 316.34 92.25 Td (not ) Tj ET Q q 0 0 0 rg BT 331.62 92.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 377.43 92.25 Td (necessary ) Tj ET Q q 0 0 0 rg BT 418.80 92.25 Td (for ) Tj ET Q q 0 0 0 rg BT 432.96 92.25 Td (the ) Tj ET Q q 0 0 0 rg BT 447.68 92.25 Td (purposes ) Tj ET Q q 0 0 0 rg BT 485.73 92.25 Td (of ) Tj ET Q q 0 0 0 rg BT 496.56 92.25 Td (this ) Tj ET Q q 0 0 0 rg BT 513.51 92.25 Td (report.) Tj ET Q endstream endobj 243 0 obj <> endobj 244 0 obj <> stream BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 738.68505859375 m 143.3671875 738.68505859375 l s q 0 0 0 rg BT 49.50 740.25 Td (Definition ) Tj ET Q q 0 0 0 rg BT 94.78 740.25 Td (of ) Tj ET Q q 0 0 0 rg BT 105.61 740.25 Td (Reserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 716.25 Td (Petroleum ) Tj ET Q q 0 0 0 rg BT 129.62 716.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 165.40 716.25 Td (included ) Tj ET Q q 0 0 0 rg BT 202.86 716.25 Td (in ) Tj ET Q q 0 0 0 rg BT 213.65 716.25 Td (this ) Tj ET Q q 0 0 0 rg BT 231.12 716.25 Td (report ) Tj ET Q q 0 0 0 rg BT 258.02 716.25 Td (are ) Tj ET Q q 0 0 0 rg BT 273.25 716.25 Td (classified ) Tj ET Q q 0 0 0 rg BT 314.03 716.25 Td (as ) Tj ET Q q 0 0 0 rg BT 325.38 716.25 Td (proved. ) Tj ET Q q 0 0 0 rg BT 358.67 716.25 Td (Only ) Tj ET Q q 0 0 0 rg BT 381.69 716.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 412.48 716.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 448.26 716.25 Td (have ) Tj ET Q q 0 0 0 rg BT 470.15 716.25 Td (been ) Tj ET Q q 0 0 0 rg BT 492.05 716.25 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 533.38 716.25 Td (for ) Tj ET Q q 0 0 0 rg BT 548.06 716.25 Td (this ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 704.25 Td (report. ) Tj ET Q q 0 0 0 rg BT 78.40 704.25 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 117.02 704.25 Td (classifications ) Tj ET Q q 0 0 0 rg BT 176.19 704.25 Td (used ) Tj ET Q q 0 0 0 rg BT 197.04 704.25 Td (by ) Tj ET Q q 0 0 0 rg BT 209.56 704.25 Td (us ) Tj ET Q q 0 0 0 rg BT 220.97 704.25 Td (in ) Tj ET Q q 0 0 0 rg BT 231.27 704.25 Td (this ) Tj ET Q q 0 0 0 rg BT 248.24 704.25 Td (report ) Tj ET Q q 0 0 0 rg BT 274.64 704.25 Td (are ) Tj ET Q q 0 0 0 rg BT 289.37 704.25 Td (in ) Tj ET Q q 0 0 0 rg BT 299.67 704.25 Td (accordance ) Tj ET Q q 0 0 0 rg BT 347.15 704.25 Td (with ) Tj ET Q q 0 0 0 rg BT 367.45 704.25 Td (the ) Tj ET Q q 0 0 0 rg BT 382.19 704.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 417.47 704.25 Td (definitions ) Tj ET Q q 0 0 0 rg BT 462.76 704.25 Td (of ) Tj ET Q q 0 0 0 rg BT 473.61 704.25 Td (Rules ) Tj ET Q q 0 0 0 rg BT 498.91 704.25 Td (4-10\(a\) ) Tj ET Q q 0 0 0 rg BT 530.86 704.25 Td (\(1\)-\(32\) ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 692.25 Td (of ) Tj ET Q q 0 0 0 rg BT 60.58 692.25 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 107.22 692.25 Td (S-X ) Tj ET Q q 0 0 0 rg BT 126.08 692.25 Td (of ) Tj ET Q q 0 0 0 rg BT 137.17 692.25 Td (the ) Tj ET Q q 0 0 0 rg BT 152.14 692.25 Td (SEC. ) Tj ET Q q 0 0 0 rg BT 175.73 692.25 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 214.58 692.25 Td (are ) Tj ET Q q 0 0 0 rg BT 229.54 692.25 Td (judged ) Tj ET Q q 0 0 0 rg BT 259.51 692.25 Td (to ) Tj ET Q q 0 0 0 rg BT 270.04 692.25 Td (be ) Tj ET Q q 0 0 0 rg BT 282.23 692.25 Td (economically ) Tj ET Q q 0 0 0 rg BT 338.85 692.25 Td (producible ) Tj ET Q q 0 0 0 rg BT 384.37 692.25 Td (in ) Tj ET Q q 0 0 0 rg BT 394.90 692.25 Td (future ) Tj ET Q q 0 0 0 rg BT 421.53 692.25 Td (years ) Tj ET Q q 0 0 0 rg BT 445.38 692.25 Td (from ) Tj ET Q q 0 0 0 rg BT 467.57 692.25 Td (known ) Tj ET Q q 0 0 0 rg BT 497.55 692.25 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 539.73 692.25 Td (under ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 85.76 680.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 129.24 680.25 Td (and ) Tj ET Q q 0 0 0 rg BT 148.27 680.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 190.64 680.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 236.90 680.25 Td (and ) Tj ET Q q 0 0 0 rg BT 255.94 680.25 Td (assuming ) Tj ET Q q 0 0 0 rg BT 298.32 680.25 Td (continuation ) Tj ET Q q 0 0 0 rg BT 352.91 680.25 Td (of ) Tj ET Q q 0 0 0 rg BT 365.84 680.25 Td (current ) Tj ET Q q 0 0 0 rg BT 398.75 680.25 Td (regulatory ) Tj ET Q q 0 0 0 rg BT 444.45 680.25 Td (practices ) Tj ET Q q 0 0 0 rg BT 484.58 680.25 Td (using ) Tj ET Q q 0 0 0 rg BT 510.85 680.25 Td (conventional ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.25 Td (production ) Tj ET Q q 0 0 0 rg BT 96.02 668.25 Td (methods ) Tj ET Q q 0 0 0 rg BT 133.10 668.25 Td (and ) Tj ET Q q 0 0 0 rg BT 150.73 668.25 Td (equipment. ) Tj ET Q q 0 0 0 rg BT 198.63 668.25 Td (In ) Tj ET Q q 0 0 0 rg BT 210.15 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 225.56 668.25 Td (analyses ) Tj ET Q q 0 0 0 rg BT 262.63 668.25 Td (of ) Tj ET Q q 0 0 0 rg BT 274.16 668.25 Td (production-decline ) Tj ET Q q 0 0 0 rg BT 352.88 668.25 Td (curves, ) Tj ET Q q 0 0 0 rg BT 384.67 668.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 420.62 668.25 Td (were ) Tj ET Q q 0 0 0 rg BT 443.24 668.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 484.75 668.25 Td (only ) Tj ET Q q 0 0 0 rg BT 505.72 668.25 Td (to ) Tj ET Q q 0 0 0 rg BT 516.69 668.25 Td (the ) Tj ET Q q 0 0 0 rg BT 532.10 668.25 Td (limit ) Tj ET Q q 0 0 0 rg BT 554.19 668.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 90.23 656.25 Td (rates ) Tj ET Q q 0 0 0 rg BT 110.97 656.25 Td (of ) Tj ET Q q 0 0 0 rg BT 121.17 656.25 Td (production ) Tj ET Q q 0 0 0 rg BT 166.36 656.25 Td (under ) Tj ET Q q 0 0 0 rg BT 190.99 656.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 224.51 656.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 265.25 656.25 Td (and ) Tj ET Q q 0 0 0 rg BT 281.55 656.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 321.18 656.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 364.71 656.25 Td (using ) Tj ET Q q 0 0 0 rg BT 388.24 656.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 413.98 656.25 Td (and ) Tj ET Q q 0 0 0 rg BT 430.28 656.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 452.14 656.25 Td (consistent ) Tj ET Q q 0 0 0 rg BT 494.00 656.25 Td (with ) Tj ET Q q 0 0 0 rg BT 513.64 656.25 Td (the ) Tj ET Q q 0 0 0 rg BT 527.72 656.25 Td (ef) Tj ET Q q 0 0 0 rg BT 535.31 656.25 Td (fective ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.25 Td (date ) Tj ET Q q 0 0 0 rg BT 67.64 644.25 Td (of ) Tj ET Q q 0 0 0 rg BT 77.46 644.25 Td (this ) Tj ET Q q 0 0 0 rg BT 93.39 644.25 Td (report, ) Tj ET Q q 0 0 0 rg BT 121.26 644.25 Td (including ) Tj ET Q q 0 0 0 rg BT 160.52 644.25 Td (consideration ) Tj ET Q q 0 0 0 rg BT 215.88 644.25 Td (of ) Tj ET Q q 0 0 0 rg BT 225.69 644.25 Td (changes ) Tj ET Q q 0 0 0 rg BT 259.39 644.25 Td (in ) Tj ET Q q 0 0 0 rg BT 268.65 644.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 301.80 644.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 327.17 644.25 Td (provided ) Tj ET Q q 0 0 0 rg BT 364.20 644.25 Td (only ) Tj ET Q q 0 0 0 rg BT 383.47 644.25 Td (by ) Tj ET Q q 0 0 0 rg BT 394.95 644.25 Td (contractual ) Tj ET Q q 0 0 0 rg BT 440.86 644.25 Td (arrangements ) Tj ET Q q 0 0 0 rg BT 496.21 644.25 Td (but ) Tj ET Q q 0 0 0 rg BT 510.47 644.25 Td (not ) Tj ET Q q 0 0 0 rg BT 524.74 644.25 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 632.25 Td (escalations ) Tj ET Q q 0 0 0 rg BT 95.87 632.25 Td (based ) Tj ET Q q 0 0 0 rg BT 121.14 632.25 Td (upon ) Tj ET Q q 0 0 0 rg BT 143.64 632.25 Td (future ) Tj ET Q q 0 0 0 rg BT 170.02 632.25 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 216.50 632.25 Td (The ) Tj ET Q q 0 0 0 rg BT 234.55 632.25 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 277.59 632.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 312.85 632.25 Td (are ) Tj ET Q q 0 0 0 rg BT 327.56 632.25 Td (classified ) Tj ET Q q 0 0 0 rg BT 367.82 632.25 Td (as ) Tj ET Q q 0 0 0 rg BT 378.65 632.25 Td (follows:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 608.25 Td (Pr) Tj ET Q q 0 0 0 rg BT 95.13 608.25 Td (oved ) Tj ET Q q 0 0 0 rg BT 117.55 608.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 131.66 608.25 Td (and ) Tj ET Q q 0 0 0 rg BT 150.21 608.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 167.65 608.25 Td (r) Tj ET Q q 0 0 0 rg BT 171.17 608.25 Td (eserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 200.60 608.25 Td ( ) Tj ET Q q 0 0 0 rg BT 204.15 608.25 Td (- ) Tj ET Q q 0 0 0 rg BT 211.03 608.25 Td (Proved ) Tj ET Q q 0 0 0 rg BT 242.91 608.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 257.01 608.25 Td (and ) Tj ET Q q 0 0 0 rg BT 275.00 608.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 291.88 608.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 328.18 608.25 Td (are ) Tj ET Q q 0 0 0 rg BT 343.94 608.25 Td (those ) Tj ET Q q 0 0 0 rg BT 368.60 608.25 Td (quantities ) Tj ET Q q 0 0 0 rg BT 411.03 608.25 Td (of ) Tj ET Q q 0 0 0 rg BT 422.91 608.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 437.01 608.25 Td (and ) Tj ET Q q 0 0 0 rg BT 455.00 608.25 Td (gas, ) Tj ET Q q 0 0 0 rg BT 474.38 608.25 Td (which, ) Tj ET Q q 0 0 0 rg BT 504.87 608.25 Td (by ) Tj ET Q q 0 0 0 rg BT 518.42 608.25 Td (analysis ) Tj ET Q q 0 0 0 rg BT 554.18 608.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 596.25 Td (geoscience ) Tj ET Q q 0 0 0 rg BT 131.49 596.25 Td (and ) Tj ET Q q 0 0 0 rg BT 148.06 596.25 Td (engineering ) Tj ET Q q 0 0 0 rg BT 197.39 596.25 Td (data, ) Tj ET Q q 0 0 0 rg BT 218.67 596.25 Td (can ) Tj ET Q q 0 0 0 rg BT 234.68 596.25 Td (be ) Tj ET Q q 0 0 0 rg BT 246.25 596.25 Td (estimated ) Tj ET Q q 0 0 0 rg BT 286.70 596.25 Td (with ) Tj ET Q q 0 0 0 rg BT 306.60 596.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 351.49 596.25 Td (certainty ) Tj ET Q q 0 0 0 rg BT 388.60 596.25 Td (to ) Tj ET Q q 0 0 0 rg BT 398.50 596.25 Td (be ) Tj ET Q q 0 0 0 rg BT 410.07 596.25 Td (economically ) Tj ET Q q 0 0 0 rg BT 466.07 596.25 Td (producible-from ) Tj ET Q q 0 0 0 rg BT 533.73 596.25 Td (a ) Tj ET Q q 0 0 0 rg BT 540.29 596.25 Td (given ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 584.25 Td (date ) Tj ET Q q 0 0 0 rg BT 105.95 584.25 Td (forward, ) Tj ET Q q 0 0 0 rg BT 143.90 584.25 Td (from ) Tj ET Q q 0 0 0 rg BT 167.13 584.25 Td (known ) Tj ET Q q 0 0 0 rg BT 198.15 584.25 Td (reservoirs, ) Tj ET Q q 0 0 0 rg BT 243.87 584.25 Td (and ) Tj ET Q q 0 0 0 rg BT 262.11 584.25 Td (under ) Tj ET Q q 0 0 0 rg BT 288.67 584.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 324.13 584.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 366.80 584.25 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 414.76 584.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 456.32 584.25 Td (methods, ) Tj ET Q q 0 0 0 rg BT 496.50 584.25 Td (and ) Tj ET Q q 0 0 0 rg BT 514.74 584.25 Td (government ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 572.25 Td (regulations-prior ) Tj ET Q q 0 0 0 rg BT 154.28 572.25 Td (to ) Tj ET Q q 0 0 0 rg BT 163.64 572.25 Td (the ) Tj ET Q q 0 0 0 rg BT 177.44 572.25 Td (time ) Tj ET Q q 0 0 0 rg BT 196.80 572.25 Td (at ) Tj ET Q q 0 0 0 rg BT 205.60 572.25 Td (which ) Tj ET Q q 0 0 0 rg BT 231.62 572.25 Td (contracts ) Tj ET Q q 0 0 0 rg BT 269.29 572.25 Td (providing ) Tj ET Q q 0 0 0 rg BT 309.76 572.25 Td (the ) Tj ET Q q 0 0 0 rg BT 323.56 572.25 Td (right ) Tj ET Q q 0 0 0 rg BT 344.03 572.25 Td (to ) Tj ET Q q 0 0 0 rg BT 353.39 572.25 Td (operate ) Tj ET Q q 0 0 0 rg BT 384.40 572.25 Td (expire, ) Tj ET Q q 0 0 0 rg BT 413.46 572.25 Td (unless ) Tj ET Q q 0 0 0 rg BT 440.05 572.25 Td (evidence ) Tj ET Q q 0 0 0 rg BT 477.16 572.25 Td (indicates ) Tj ET Q q 0 0 0 rg BT 514.28 572.25 Td (that ) Tj ET Q q 0 0 0 rg BT 530.86 572.25 Td (renewal ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 560.25 Td (is ) Tj ET Q q 0 0 0 rg BT 94.05 560.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 139.25 560.25 Td (certain, ) Tj ET Q q 0 0 0 rg BT 170.83 560.25 Td (regardless ) Tj ET Q q 0 0 0 rg BT 213.24 560.25 Td (of ) Tj ET Q q 0 0 0 rg BT 223.45 560.25 Td (whether ) Tj ET Q q 0 0 0 rg BT 257.54 560.25 Td (deterministic ) Tj ET Q q 0 0 0 rg BT 311.63 560.25 Td (or ) Tj ET Q q 0 0 0 rg BT 321.84 560.25 Td (probabilistic ) Tj ET Q q 0 0 0 rg BT 373.71 560.25 Td (methods ) Tj ET Q q 0 0 0 rg BT 409.47 560.25 Td (are ) Tj ET Q q 0 0 0 rg BT 423.56 560.25 Td (used ) Tj ET Q q 0 0 0 rg BT 443.77 560.25 Td (for ) Tj ET Q q 0 0 0 rg BT 457.31 560.25 Td (the ) Tj ET Q q 0 0 0 rg BT 471.41 560.25 Td (estimation. ) Tj ET Q q 0 0 0 rg BT 517.31 560.25 Td (The ) Tj ET Q q 0 0 0 rg BT 534.74 560.25 Td (project ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 548.25 Td (to ) Tj ET Q q 0 0 0 rg BT 95.71 548.25 Td (extract ) Tj ET Q q 0 0 0 rg BT 125.35 548.25 Td (the ) Tj ET Q q 0 0 0 rg BT 140.00 548.25 Td (hydrocarbons ) Tj ET Q q 0 0 0 rg BT 196.87 548.25 Td (must ) Tj ET Q q 0 0 0 rg BT 218.75 548.25 Td (have ) Tj ET Q q 0 0 0 rg BT 240.06 548.25 Td (commenced ) Tj ET Q q 0 0 0 rg BT 290.81 548.25 Td (or ) Tj ET Q q 0 0 0 rg BT 301.58 548.25 Td (the ) Tj ET Q q 0 0 0 rg BT 316.23 548.25 Td (operator ) Tj ET Q q 0 0 0 rg BT 351.98 548.25 Td (must ) Tj ET Q q 0 0 0 rg BT 373.86 548.25 Td (be ) Tj ET Q q 0 0 0 rg BT 385.74 548.25 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 431.49 548.25 Td (certain ) Tj ET Q q 0 0 0 rg BT 461.13 548.25 Td (that ) Tj ET Q q 0 0 0 rg BT 478.56 548.25 Td (it ) Tj ET Q q 0 0 0 rg BT 486.55 548.25 Td (will ) Tj ET Q q 0 0 0 rg BT 504.54 548.25 Td (commence ) Tj ET Q q 0 0 0 rg BT 550.29 548.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 536.25 Td (project ) Tj ET Q q 0 0 0 rg BT 115.76 536.25 Td (within ) Tj ET Q q 0 0 0 rg BT 143.82 536.25 Td (a ) Tj ET Q q 0 0 0 rg BT 150.76 536.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 196.01 536.25 Td (time.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 512.25 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 115.26 512.25 Td (The ) Tj ET Q q 0 0 0 rg BT 133.30 512.25 Td (area ) Tj ET Q q 0 0 0 rg BT 152.45 512.25 Td (of ) Tj ET Q q 0 0 0 rg BT 163.28 512.25 Td (the ) Tj ET Q q 0 0 0 rg BT 178.00 512.25 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 216.03 512.25 Td (considered ) Tj ET Q q 0 0 0 rg BT 261.85 512.25 Td (as ) Tj ET Q q 0 0 0 rg BT 272.68 512.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 302.95 512.25 Td (includes:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 500.25 Td (\(A\) ) Tj ET Q q 0 0 0 rg BT 119.99 500.25 Td (The ) Tj ET Q q 0 0 0 rg BT 138.35 500.25 Td (area ) Tj ET Q q 0 0 0 rg BT 157.80 500.25 Td (identified ) Tj ET Q q 0 0 0 rg BT 198.93 500.25 Td (by ) Tj ET Q q 0 0 0 rg BT 211.74 500.25 Td (drilling ) Tj ET Q q 0 0 0 rg BT 244.00 500.25 Td (and ) Tj ET Q q 0 0 0 rg BT 261.24 500.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 292.38 500.25 Td (by ) Tj ET Q q 0 0 0 rg BT 305.19 500.25 Td (fluid ) Tj ET Q q 0 0 0 rg BT 326.89 500.25 Td (contacts, ) Tj ET Q q 0 0 0 rg BT 364.96 500.25 Td (if ) Tj ET Q q 0 0 0 rg BT 373.88 500.25 Td (any) Tj ET Q q 0 0 0 rg BT 387.67 500.25 Td (, ) Tj ET Q q 0 0 0 rg BT 392.98 500.25 Td (and ) Tj ET Q q 0 0 0 rg BT 410.23 500.25 Td (\(B\) ) Tj ET Q q 0 0 0 rg BT 425.75 500.25 Td (Adjacent ) Tj ET Q q 0 0 0 rg BT 464.65 500.25 Td (undrilled ) Tj ET Q q 0 0 0 rg BT 503.57 500.25 Td (portions ) Tj ET Q q 0 0 0 rg BT 539.16 500.25 Td (of ) Tj ET Q q 0 0 0 rg BT 550.30 500.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 488.25 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 140.53 488.25 Td (that ) Tj ET Q q 0 0 0 rg BT 157.02 488.25 Td (can, ) Tj ET Q q 0 0 0 rg BT 174.88 488.25 Td (with ) Tj ET Q q 0 0 0 rg BT 194.15 488.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 238.40 488.25 Td (certainty) Tj ET Q q 0 0 0 rg BT 272.73 488.25 Td (, ) Tj ET Q q 0 0 0 rg BT 276.72 488.25 Td (be ) Tj ET Q q 0 0 0 rg BT 287.65 488.25 Td (judged ) Tj ET Q q 0 0 0 rg BT 316.36 488.25 Td (to ) Tj ET Q q 0 0 0 rg BT 325.63 488.25 Td (be ) Tj ET Q q 0 0 0 rg BT 336.56 488.25 Td (continuous ) Tj ET Q q 0 0 0 rg BT 381.94 488.25 Td (with ) Tj ET Q q 0 0 0 rg BT 401.21 488.25 Td (it ) Tj ET Q q 0 0 0 rg BT 408.26 488.25 Td (and ) Tj ET Q q 0 0 0 rg BT 424.19 488.25 Td (to ) Tj ET Q q 0 0 0 rg BT 433.46 488.25 Td (contain ) Tj ET Q q 0 0 0 rg BT 464.38 488.25 Td (economically ) Tj ET Q q 0 0 0 rg BT 519.74 488.25 Td (producible ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 476.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 116.56 476.25 Td (or ) Tj ET Q q 0 0 0 rg BT 127.39 476.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 143.22 476.25 Td (on ) Tj ET Q q 0 0 0 rg BT 155.72 476.25 Td (the ) Tj ET Q q 0 0 0 rg BT 170.43 476.25 Td (basis ) Tj ET Q q 0 0 0 rg BT 192.93 476.25 Td (of ) Tj ET Q q 0 0 0 rg BT 203.76 476.25 Td (available ) Tj ET Q q 0 0 0 rg BT 242.35 476.25 Td (geoscience ) Tj ET Q q 0 0 0 rg BT 288.71 476.25 Td (and ) Tj ET Q q 0 0 0 rg BT 305.65 476.25 Td (engineering ) Tj ET Q q 0 0 0 rg BT 355.36 476.25 Td (data.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 452.25 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 119.66 452.25 Td (In ) Tj ET Q q 0 0 0 rg BT 131.94 452.25 Td (the ) Tj ET Q q 0 0 0 rg BT 148.10 452.25 Td (absence ) Tj ET Q q 0 0 0 rg BT 183.69 452.25 Td (of ) Tj ET Q q 0 0 0 rg BT 195.97 452.25 Td (data ) Tj ET Q q 0 0 0 rg BT 216.57 452.25 Td (on ) Tj ET Q q 0 0 0 rg BT 230.52 452.25 Td (fluid ) Tj ET Q q 0 0 0 rg BT 253.35 452.25 Td (contacts, ) Tj ET Q q 0 0 0 rg BT 292.56 452.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 324.27 452.25 Td (quantities ) Tj ET Q q 0 0 0 rg BT 367.10 452.25 Td (in ) Tj ET Q q 0 0 0 rg BT 378.82 452.25 Td (a ) Tj ET Q q 0 0 0 rg BT 387.21 452.25 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 426.69 452.25 Td (are ) Tj ET Q q 0 0 0 rg BT 442.84 452.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 475.12 452.25 Td (by ) Tj ET Q q 0 0 0 rg BT 489.06 452.25 Td (the ) Tj ET Q q 0 0 0 rg BT 505.23 452.25 Td (lowest ) Tj ET Q q 0 0 0 rg BT 535.28 452.25 Td (known ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 440.25 Td (hydrocarbons ) Tj ET Q q 0 0 0 rg BT 160.32 440.25 Td (\(LKH\) ) Tj ET Q q 0 0 0 rg BT 189.92 440.25 Td (as ) Tj ET Q q 0 0 0 rg BT 200.64 440.25 Td (seen ) Tj ET Q q 0 0 0 rg BT 220.80 440.25 Td (in ) Tj ET Q q 0 0 0 rg BT 230.97 440.25 Td (a ) Tj ET Q q 0 0 0 rg BT 237.80 440.25 Td (well ) Tj ET Q q 0 0 0 rg BT 257.40 440.25 Td (penetration ) Tj ET Q q 0 0 0 rg BT 304.77 440.25 Td (unless ) Tj ET Q q 0 0 0 rg BT 332.16 440.25 Td (geoscience, ) Tj ET Q q 0 0 0 rg BT 380.92 440.25 Td (engineering, ) Tj ET Q q 0 0 0 rg BT 433.01 440.25 Td (or ) Tj ET Q q 0 0 0 rg BT 443.73 440.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 496.64 440.25 Td (data ) Tj ET Q q 0 0 0 rg BT 515.69 440.25 Td (and ) Tj ET Q q 0 0 0 rg BT 532.52 440.25 Td (reliable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 428.25 Td (technology ) Tj ET Q q 0 0 0 rg BT 150.43 428.25 Td (establishes ) Tj ET Q q 0 0 0 rg BT 196.26 428.25 Td (a ) Tj ET Q q 0 0 0 rg BT 203.20 428.25 Td (lower ) Tj ET Q q 0 0 0 rg BT 228.47 428.25 Td (contact ) Tj ET Q q 0 0 0 rg BT 259.84 428.25 Td (with ) Tj ET Q q 0 0 0 rg BT 280.12 428.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 325.37 428.25 Td (certainty) Tj ET Q q 0 0 0 rg BT 359.70 428.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 404.25 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 121.78 404.25 Td (Where ) Tj ET Q q 0 0 0 rg BT 151.96 404.25 Td (direct ) Tj ET Q q 0 0 0 rg BT 178.27 404.25 Td (observation ) Tj ET Q q 0 0 0 rg BT 228.46 404.25 Td (from ) Tj ET Q q 0 0 0 rg BT 251.44 404.25 Td (well ) Tj ET Q q 0 0 0 rg BT 272.19 404.25 Td (penetrations ) Tj ET Q q 0 0 0 rg BT 324.60 404.25 Td (has ) Tj ET Q q 0 0 0 rg BT 341.47 404.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 375.00 404.25 Td (a ) Tj ET Q q 0 0 0 rg BT 382.98 404.25 Td (highest ) Tj ET Q q 0 0 0 rg BT 415.40 404.25 Td (known ) Tj ET Q q 0 0 0 rg BT 446.16 404.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 460.26 404.25 Td (\(HKO\) ) Tj ET Q q 0 0 0 rg BT 492.12 404.25 Td (elevation ) Tj ET Q q 0 0 0 rg BT 532.31 404.25 Td (and ) Tj ET Q q 0 0 0 rg BT 550.29 404.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 392.25 Td (potential ) Tj ET Q q 0 0 0 rg BT 140.99 392.25 Td (exists ) Tj ET Q q 0 0 0 rg BT 166.27 392.25 Td (for ) Tj ET Q q 0 0 0 rg BT 180.43 392.25 Td (an ) Tj ET Q q 0 0 0 rg BT 192.36 392.25 Td (associated ) Tj ET Q q 0 0 0 rg BT 235.96 392.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 251.79 392.25 Td (cap, ) Tj ET Q q 0 0 0 rg BT 270.66 392.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 300.93 392.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 313.98 392.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 349.24 392.25 Td (may ) Tj ET Q q 0 0 0 rg BT 368.96 392.25 Td (be ) Tj ET Q q 0 0 0 rg BT 380.90 392.25 Td (assigned ) Tj ET Q q 0 0 0 rg BT 417.83 392.25 Td (in ) Tj ET Q q 0 0 0 rg BT 428.11 392.25 Td (the ) Tj ET Q q 0 0 0 rg BT 442.83 392.25 Td (structurally ) Tj ET Q q 0 0 0 rg BT 490.87 392.25 Td (higher ) Tj ET Q q 0 0 0 rg BT 518.91 392.25 Td (portions ) Tj ET Q q 0 0 0 rg BT 554.19 392.25 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 380.25 Td (the ) Tj ET Q q 0 0 0 rg BT 117.40 380.25 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 154.63 380.25 Td (only ) Tj ET Q q 0 0 0 rg BT 174.09 380.25 Td (if ) Tj ET Q q 0 0 0 rg BT 181.89 380.25 Td (geoscience, ) Tj ET Q q 0 0 0 rg BT 229.94 380.25 Td (engineering, ) Tj ET Q q 0 0 0 rg BT 281.33 380.25 Td (or ) Tj ET Q q 0 0 0 rg BT 291.34 380.25 Td (performance ) Tj ET Q q 0 0 0 rg BT 343.55 380.25 Td (data ) Tj ET Q q 0 0 0 rg BT 361.90 380.25 Td (and ) Tj ET Q q 0 0 0 rg BT 378.02 380.25 Td (reliable ) Tj ET Q q 0 0 0 rg BT 409.69 380.25 Td (technology ) Tj ET Q q 0 0 0 rg BT 455.81 380.25 Td (establish ) Tj ET Q q 0 0 0 rg BT 492.49 380.25 Td (the ) Tj ET Q q 0 0 0 rg BT 506.40 380.25 Td (higher ) Tj ET Q q 0 0 0 rg BT 533.63 380.25 Td (contact ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 368.25 Td (with ) Tj ET Q q 0 0 0 rg BT 123.78 368.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 169.03 368.25 Td (certainty) Tj ET Q q 0 0 0 rg BT 203.36 368.25 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 344.25 Td (\(iv\) ) Tj ET Q q 0 0 0 rg BT 119.95 344.25 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 158.05 344.25 Td (which ) Tj ET Q q 0 0 0 rg BT 184.50 344.25 Td (can ) Tj ET Q q 0 0 0 rg BT 200.39 344.25 Td (be ) Tj ET Q q 0 0 0 rg BT 211.83 344.25 Td (produced ) Tj ET Q q 0 0 0 rg BT 251.05 344.25 Td (economically ) Tj ET Q q 0 0 0 rg BT 306.92 344.25 Td (through ) Tj ET Q q 0 0 0 rg BT 340.04 344.25 Td (application ) Tj ET Q q 0 0 0 rg BT 386.48 344.25 Td (of ) Tj ET Q q 0 0 0 rg BT 396.82 344.25 Td (improved ) Tj ET Q q 0 0 0 rg BT 437.15 344.25 Td (recovery ) Tj ET Q q 0 0 0 rg BT 474.13 344.25 Td (techniques ) Tj ET Q q 0 0 0 rg BT 518.90 344.25 Td (\(including, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 332.25 Td (but ) Tj ET Q q 0 0 0 rg BT 118.78 332.25 Td (not ) Tj ET Q q 0 0 0 rg BT 134.06 332.25 Td (limited ) Tj ET Q q 0 0 0 rg BT 164.89 332.25 Td (to, ) Tj ET Q q 0 0 0 rg BT 177.67 332.25 Td (fluid ) Tj ET Q q 0 0 0 rg BT 199.05 332.25 Td (injection\) ) Tj ET Q q 0 0 0 rg BT 239.87 332.25 Td (are ) Tj ET Q q 0 0 0 rg BT 254.58 332.25 Td (included ) Tj ET Q q 0 0 0 rg BT 291.51 332.25 Td (in ) Tj ET Q q 0 0 0 rg BT 301.79 332.25 Td (the ) Tj ET Q q 0 0 0 rg BT 316.51 332.25 Td (proved ) Tj ET Q q 0 0 0 rg BT 346.78 332.25 Td (classification ) Tj ET Q q 0 0 0 rg BT 402.04 332.25 Td (when:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 320.25 Td (\(A\) ) Tj ET Q q 0 0 0 rg BT 120.48 320.25 Td (Successful ) Tj ET Q q 0 0 0 rg BT 166.34 320.25 Td (testing ) Tj ET Q q 0 0 0 rg BT 196.11 320.25 Td (by ) Tj ET Q q 0 0 0 rg BT 209.20 320.25 Td (a ) Tj ET Q q 0 0 0 rg BT 216.74 320.25 Td (pilot ) Tj ET Q q 0 0 0 rg BT 238.17 320.25 Td (project ) Tj ET Q q 0 0 0 rg BT 269.03 320.25 Td (in ) Tj ET Q q 0 0 0 rg BT 279.91 320.25 Td (an ) Tj ET Q q 0 0 0 rg BT 292.44 320.25 Td (area ) Tj ET Q q 0 0 0 rg BT 312.19 320.25 Td (of ) Tj ET Q q 0 0 0 rg BT 323.61 320.25 Td (the ) Tj ET Q q 0 0 0 rg BT 338.93 320.25 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 377.56 320.25 Td (with ) Tj ET Q q 0 0 0 rg BT 398.44 320.25 Td (properties ) Tj ET Q q 0 0 0 rg BT 441.52 320.25 Td (no ) Tj ET Q q 0 0 0 rg BT 454.62 320.25 Td (more ) Tj ET Q q 0 0 0 rg BT 478.26 320.25 Td (favorable ) Tj ET Q q 0 0 0 rg BT 519.11 320.25 Td (than ) Tj ET Q q 0 0 0 rg BT 539.43 320.25 Td (in ) Tj ET Q q 0 0 0 rg BT 550.30 320.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 308.25 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 140.74 308.25 Td (as ) Tj ET Q q 0 0 0 rg BT 150.77 308.25 Td (a ) Tj ET Q q 0 0 0 rg BT 156.92 308.25 Td (whole, ) Tj ET Q q 0 0 0 rg BT 185.56 308.25 Td (the ) Tj ET Q q 0 0 0 rg BT 199.48 308.25 Td (operation ) Tj ET Q q 0 0 0 rg BT 238.94 308.25 Td (of ) Tj ET Q q 0 0 0 rg BT 248.98 308.25 Td (an ) Tj ET Q q 0 0 0 rg BT 260.12 308.25 Td (installed ) Tj ET Q q 0 0 0 rg BT 295.70 308.25 Td (program ) Tj ET Q q 0 0 0 rg BT 331.28 308.25 Td (in ) Tj ET Q q 0 0 0 rg BT 340.76 308.25 Td (the ) Tj ET Q q 0 0 0 rg BT 354.68 308.25 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 391.92 308.25 Td (or ) Tj ET Q q 0 0 0 rg BT 401.96 308.25 Td (an ) Tj ET Q q 0 0 0 rg BT 413.10 308.25 Td (analogous ) Tj ET Q q 0 0 0 rg BT 455.35 308.25 Td (reservoir) Tj ET Q q 0 0 0 rg BT 490.49 308.25 Td (, ) Tj ET Q q 0 0 0 rg BT 494.69 308.25 Td (or ) Tj ET Q q 0 0 0 rg BT 504.72 308.25 Td (other ) Tj ET Q q 0 0 0 rg BT 526.97 308.25 Td (evidence ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 296.25 Td (using ) Tj ET Q q 0 0 0 rg BT 128.30 296.25 Td (reliable ) Tj ET Q q 0 0 0 rg BT 161.41 296.25 Td (technology ) Tj ET Q q 0 0 0 rg BT 208.97 296.25 Td (establishes ) Tj ET Q q 0 0 0 rg BT 255.42 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 270.77 296.25 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 316.65 296.25 Td (certainty ) Tj ET Q q 0 0 0 rg BT 354.76 296.25 Td (of ) Tj ET Q q 0 0 0 rg BT 366.22 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 381.57 296.25 Td (engineering ) Tj ET Q q 0 0 0 rg BT 431.90 296.25 Td (analysis ) Tj ET Q q 0 0 0 rg BT 467.24 296.25 Td (on ) Tj ET Q q 0 0 0 rg BT 480.37 296.25 Td (which ) Tj ET Q q 0 0 0 rg BT 507.94 296.25 Td (the ) Tj ET Q q 0 0 0 rg BT 523.29 296.25 Td (project ) Tj ET Q q 0 0 0 rg BT 554.18 296.25 Td (or ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 284.25 Td (program ) Tj ET Q q 0 0 0 rg BT 140.27 284.25 Td (was ) Tj ET Q q 0 0 0 rg BT 158.71 284.25 Td (based; ) Tj ET Q q 0 0 0 rg BT 187.14 284.25 Td (and ) Tj ET Q q 0 0 0 rg BT 204.47 284.25 Td (\(B\) ) Tj ET Q q 0 0 0 rg BT 220.48 284.25 Td (The ) Tj ET Q q 0 0 0 rg BT 238.91 284.25 Td (project ) Tj ET Q q 0 0 0 rg BT 269.56 284.25 Td (has ) Tj ET Q q 0 0 0 rg BT 285.78 284.25 Td (been ) Tj ET Q q 0 0 0 rg BT 307.55 284.25 Td (approved ) Tj ET Q q 0 0 0 rg BT 347.64 284.25 Td (for ) Tj ET Q q 0 0 0 rg BT 362.19 284.25 Td (development ) Tj ET Q q 0 0 0 rg BT 416.73 284.25 Td (by ) Tj ET Q q 0 0 0 rg BT 429.62 284.25 Td (all ) Tj ET Q q 0 0 0 rg BT 442.50 284.25 Td (necessary ) Tj ET Q q 0 0 0 rg BT 484.26 284.25 Td (parties ) Tj ET Q q 0 0 0 rg BT 513.80 284.25 Td (and ) Tj ET Q q 0 0 0 rg BT 531.13 284.25 Td (entities, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 272.25 Td (including ) Tj ET Q q 0 0 0 rg BT 143.77 272.25 Td (governmental ) Tj ET Q q 0 0 0 rg BT 201.25 272.25 Td (entities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 248.25 Td (\(v\) ) Tj ET Q q 0 0 0 rg BT 117.53 248.25 Td (Existing ) Tj ET Q q 0 0 0 rg BT 153.23 248.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 194.47 248.25 Td (conditions ) Tj ET Q q 0 0 0 rg BT 238.50 248.25 Td (include ) Tj ET Q q 0 0 0 rg BT 270.30 248.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 296.55 248.25 Td (and ) Tj ET Q q 0 0 0 rg BT 313.35 248.25 Td (costs ) Tj ET Q q 0 0 0 rg BT 335.72 248.25 Td (at ) Tj ET Q q 0 0 0 rg BT 345.30 248.25 Td (which ) Tj ET Q q 0 0 0 rg BT 372.11 248.25 Td (economic ) Tj ET Q q 0 0 0 rg BT 413.35 248.25 Td (producibility ) Tj ET Q q 0 0 0 rg BT 467.38 248.25 Td (from ) Tj ET Q q 0 0 0 rg BT 489.18 248.25 Td (a ) Tj ET Q q 0 0 0 rg BT 495.99 248.25 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 533.89 248.25 Td (is ) Tj ET Q q 0 0 0 rg BT 542.93 248.25 Td (to ) Tj ET Q q 0 0 0 rg BT 553.07 248.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 236.25 Td (determined. ) Tj ET Q q 0 0 0 rg BT 153.54 236.25 Td (The ) Tj ET Q q 0 0 0 rg BT 171.85 236.25 Td (price ) Tj ET Q q 0 0 0 rg BT 194.59 236.25 Td (shall ) Tj ET Q q 0 0 0 rg BT 216.24 236.25 Td (be ) Tj ET Q q 0 0 0 rg BT 228.43 236.25 Td (the ) Tj ET Q q 0 0 0 rg BT 243.41 236.25 Td (average ) Tj ET Q q 0 0 0 rg BT 277.25 236.25 Td (price ) Tj ET Q q 0 0 0 rg BT 300.00 236.25 Td (during ) Tj ET Q q 0 0 0 rg BT 328.86 236.25 Td (the ) Tj ET Q q 0 0 0 rg BT 343.84 236.25 Td (12-month ) Tj ET Q q 0 0 0 rg BT 385.48 236.25 Td (period ) Tj ET Q q 0 0 0 rg BT 413.79 236.25 Td (prior ) Tj ET Q q 0 0 0 rg BT 435.99 236.25 Td (to ) Tj ET Q q 0 0 0 rg BT 446.52 236.25 Td (the ) Tj ET Q q 0 0 0 rg BT 461.50 236.25 Td (ending ) Tj ET Q q 0 0 0 rg BT 491.47 236.25 Td (date ) Tj ET Q q 0 0 0 rg BT 510.89 236.25 Td (of ) Tj ET Q q 0 0 0 rg BT 521.98 236.25 Td (the ) Tj ET Q q 0 0 0 rg BT 536.95 236.25 Td (period ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 224.25 Td (covered ) Tj ET Q q 0 0 0 rg BT 137.63 224.25 Td (by ) Tj ET Q q 0 0 0 rg BT 150.11 224.25 Td (the ) Tj ET Q q 0 0 0 rg BT 164.82 224.25 Td (report, ) Tj ET Q q 0 0 0 rg BT 193.68 224.25 Td (determined ) Tj ET Q q 0 0 0 rg BT 241.14 224.25 Td (as ) Tj ET Q q 0 0 0 rg BT 251.96 224.25 Td (an ) Tj ET Q q 0 0 0 rg BT 263.88 224.25 Td (unweighted ) Tj ET Q q 0 0 0 rg BT 313.02 224.25 Td (arithmetic ) Tj ET Q q 0 0 0 rg BT 356.04 224.25 Td (average ) Tj ET Q q 0 0 0 rg BT 389.61 224.25 Td (of ) Tj ET Q q 0 0 0 rg BT 400.42 224.25 Td (the ) Tj ET Q q 0 0 0 rg BT 415.12 224.25 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 507.58 224.25 Td (price ) Tj ET Q q 0 0 0 rg BT 530.05 224.25 Td (for ) Tj ET Q q 0 0 0 rg BT 544.19 224.25 Td (each ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 212.25 Td (month ) Tj ET Q q 0 0 0 rg BT 131.46 212.25 Td (within ) Tj ET Q q 0 0 0 rg BT 159.41 212.25 Td (such ) Tj ET Q q 0 0 0 rg BT 180.14 212.25 Td (period, ) Tj ET Q q 0 0 0 rg BT 210.59 212.25 Td (unless ) Tj ET Q q 0 0 0 rg BT 237.98 212.25 Td (prices ) Tj ET Q q 0 0 0 rg BT 264.26 212.25 Td (are ) Tj ET Q q 0 0 0 rg BT 278.87 212.25 Td (defined ) Tj ET Q q 0 0 0 rg BT 311.25 212.25 Td (by ) Tj ET Q q 0 0 0 rg BT 323.65 212.25 Td (contractual ) Tj ET Q q 0 0 0 rg BT 370.47 212.25 Td (arrangements, ) Tj ET Q q 0 0 0 rg BT 429.23 212.25 Td (excluding ) Tj ET Q q 0 0 0 rg BT 471.06 212.25 Td (escalations ) Tj ET Q q 0 0 0 rg BT 517.33 212.25 Td (based ) Tj ET Q q 0 0 0 rg BT 542.50 212.25 Td (upon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 200.25 Td (future ) Tj ET Q q 0 0 0 rg BT 129.88 200.25 Td (conditions.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 176.25 Td (Developed ) Tj ET Q q 0 0 0 rg BT 130.68 176.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 143.66 176.25 Td (and ) Tj ET Q q 0 0 0 rg BT 161.08 176.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 177.40 176.25 Td (r) Tj ET Q q 0 0 0 rg BT 180.92 176.25 Td (eserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 210.35 176.25 Td ( ) Tj ET Q q 0 0 0 rg BT 212.77 176.25 Td (- ) Tj ET Q q 0 0 0 rg BT 218.53 176.25 Td (Developed ) Tj ET Q q 0 0 0 rg BT 264.27 176.25 Td (oil ) Tj ET Q q 0 0 0 rg BT 277.25 176.25 Td (and ) Tj ET Q q 0 0 0 rg BT 294.11 176.25 Td (gas ) Tj ET Q q 0 0 0 rg BT 309.87 176.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 345.05 176.25 Td (are ) Tj ET Q q 0 0 0 rg BT 359.68 176.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 394.86 176.25 Td (of ) Tj ET Q q 0 0 0 rg BT 405.62 176.25 Td (any ) Tj ET Q q 0 0 0 rg BT 422.48 176.25 Td (category ) Tj ET Q q 0 0 0 rg BT 459.33 176.25 Td (that ) Tj ET Q q 0 0 0 rg BT 476.75 176.25 Td (can ) Tj ET Q q 0 0 0 rg BT 493.05 176.25 Td (be ) Tj ET Q q 0 0 0 rg BT 504.91 176.25 Td (expected ) Tj ET Q q 0 0 0 rg BT 542.87 176.25 Td (to ) Tj ET Q q 0 0 0 rg BT 553.07 176.25 Td (be ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 164.25 Td (recovered:) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 140.25 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 116.33 140.25 Td (Through ) Tj ET Q q 0 0 0 rg BT 154.42 140.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 189.74 140.25 Td (wells ) Tj ET Q q 0 0 0 rg BT 214.51 140.25 Td (with ) Tj ET Q q 0 0 0 rg BT 235.94 140.25 Td (existing ) Tj ET Q q 0 0 0 rg BT 271.26 140.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 317.13 140.25 Td (and ) Tj ET Q q 0 0 0 rg BT 335.22 140.25 Td (operating ) Tj ET Q q 0 0 0 rg BT 376.64 140.25 Td (methods ) Tj ET Q q 0 0 0 rg BT 414.18 140.25 Td (or ) Tj ET Q q 0 0 0 rg BT 426.16 140.25 Td (in ) Tj ET Q q 0 0 0 rg BT 437.60 140.25 Td (which ) Tj ET Q q 0 0 0 rg BT 465.69 140.25 Td (the ) Tj ET Q q 0 0 0 rg BT 481.56 140.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 501.32 140.25 Td (of ) Tj ET Q q 0 0 0 rg BT 513.31 140.25 Td (the ) Tj ET Q q 0 0 0 rg BT 529.18 140.25 Td (required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 128.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 148.21 128.25 Td (is ) Tj ET Q q 0 0 0 rg BT 157.38 128.25 Td (relatively ) Tj ET Q q 0 0 0 rg BT 197.64 128.25 Td (minor ) Tj ET Q q 0 0 0 rg BT 224.03 128.25 Td (compared ) Tj ET Q q 0 0 0 rg BT 265.95 128.25 Td (to ) Tj ET Q q 0 0 0 rg BT 276.23 128.25 Td (the ) Tj ET Q q 0 0 0 rg BT 290.95 128.25 Td (cost ) Tj ET Q q 0 0 0 rg BT 309.55 128.25 Td (of ) Tj ET Q q 0 0 0 rg BT 320.38 128.25 Td (a ) Tj ET Q q 0 0 0 rg BT 327.32 128.25 Td (new ) Tj ET Q q 0 0 0 rg BT 346.48 128.25 Td (well; ) Tj ET Q q 0 0 0 rg BT 368.98 128.25 Td (and) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 104.25 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 118.10 104.25 Td (Through ) Tj ET Q q 0 0 0 rg BT 155.10 104.25 Td (installed ) Tj ET Q q 0 0 0 rg BT 191.54 104.25 Td (extraction ) Tj ET Q q 0 0 0 rg BT 234.09 104.25 Td (equipment ) Tj ET Q q 0 0 0 rg BT 278.86 104.25 Td (and ) Tj ET Q q 0 0 0 rg BT 295.86 104.25 Td (infrastructure ) Tj ET Q q 0 0 0 rg BT 352.29 104.25 Td (operational ) Tj ET Q q 0 0 0 rg BT 399.83 104.25 Td (at ) Tj ET Q q 0 0 0 rg BT 409.61 104.25 Td (the ) Tj ET Q q 0 0 0 rg BT 424.39 104.25 Td (time ) Tj ET Q q 0 0 0 rg BT 444.73 104.25 Td (of ) Tj ET Q q 0 0 0 rg BT 455.62 104.25 Td (the ) Tj ET Q q 0 0 0 rg BT 470.40 104.25 Td (reserves ) Tj ET Q q 0 0 0 rg BT 505.73 104.25 Td (estimate ) Tj ET Q q 0 0 0 rg BT 541.61 104.25 Td (if ) Tj ET Q q 0 0 0 rg BT 550.28 104.25 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 92.25 Td (extraction ) Tj ET Q q 0 0 0 rg BT 145.98 92.25 Td (is ) Tj ET Q q 0 0 0 rg BT 155.15 92.25 Td (by ) Tj ET Q q 0 0 0 rg BT 167.65 92.25 Td (means ) Tj ET Q q 0 0 0 rg BT 195.70 92.25 Td (not ) Tj ET Q q 0 0 0 rg BT 210.98 92.25 Td (involving ) Tj ET Q q 0 0 0 rg BT 251.81 92.25 Td (a ) Tj ET Q q 0 0 0 rg BT 258.75 92.25 Td (well.) Tj ET Q endstream endobj 245 0 obj <> endobj 246 0 obj <> stream BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 740.10 Td (Undeveloped ) Tj ET Q q 0 0 0 rg BT 140.96 740.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 154.23 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 171.93 740.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 188.53 740.10 Td (r) Tj ET Q q 0 0 0 rg BT 192.05 740.10 Td (eserves) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 221.48 740.10 Td ( ) Tj ET Q q 0 0 0 rg BT 224.19 740.10 Td (- ) Tj ET Q q 0 0 0 rg BT 230.23 740.10 Td (Undeveloped ) Tj ET Q q 0 0 0 rg BT 286.25 740.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 299.51 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 316.66 740.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 332.70 740.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 368.16 740.10 Td (are ) Tj ET Q q 0 0 0 rg BT 383.08 740.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 418.54 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 429.58 740.10 Td (any ) Tj ET Q q 0 0 0 rg BT 446.73 740.10 Td (category ) Tj ET Q q 0 0 0 rg BT 483.86 740.10 Td (that ) Tj ET Q q 0 0 0 rg BT 501.56 740.10 Td (are ) Tj ET Q q 0 0 0 rg BT 516.48 740.10 Td (expected ) Tj ET Q q 0 0 0 rg BT 554.72 740.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 728.10 Td (be ) Tj ET Q q 0 0 0 rg BT 96.84 728.10 Td (recovered ) Tj ET Q q 0 0 0 rg BT 138.15 728.10 Td (from ) Tj ET Q q 0 0 0 rg BT 159.48 728.10 Td (new ) Tj ET Q q 0 0 0 rg BT 178.04 728.10 Td (wells ) Tj ET Q q 0 0 0 rg BT 201.04 728.10 Td (on ) Tj ET Q q 0 0 0 rg BT 212.94 728.10 Td (undrilled ) Tj ET Q q 0 0 0 rg BT 250.94 728.10 Td (acreage, ) Tj ET Q q 0 0 0 rg BT 285.86 728.10 Td (or ) Tj ET Q q 0 0 0 rg BT 296.09 728.10 Td (from ) Tj ET Q q 0 0 0 rg BT 317.42 728.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 350.99 728.10 Td (wells ) Tj ET Q q 0 0 0 rg BT 373.99 728.10 Td (where ) Tj ET Q q 0 0 0 rg BT 400.32 728.10 Td (a ) Tj ET Q q 0 0 0 rg BT 406.65 728.10 Td (relatively ) Tj ET Q q 0 0 0 rg BT 446.31 728.10 Td (major ) Tj ET Q q 0 0 0 rg BT 471.53 728.10 Td (expenditure ) Tj ET Q q 0 0 0 rg BT 520.63 728.10 Td (is ) Tj ET Q q 0 0 0 rg BT 529.20 728.10 Td (required ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 716.10 Td (for ) Tj ET Q q 0 0 0 rg BT 99.66 716.10 Td (recompletion.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 692.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 116.23 692.10 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 155.62 692.10 Td (on ) Tj ET Q q 0 0 0 rg BT 168.91 692.10 Td (undrilled ) Tj ET Q q 0 0 0 rg BT 208.31 692.10 Td (acreage ) Tj ET Q q 0 0 0 rg BT 242.13 692.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 264.30 692.10 Td (be ) Tj ET Q q 0 0 0 rg BT 277.04 692.10 Td (limited ) Tj ET Q q 0 0 0 rg BT 308.66 692.10 Td (to ) Tj ET Q q 0 0 0 rg BT 319.73 692.10 Td (those ) Tj ET Q q 0 0 0 rg BT 344.13 692.10 Td (directly ) Tj ET Q q 0 0 0 rg BT 377.96 692.10 Td (of) Tj ET Q q 0 0 0 rg BT 386.11 692.10 Td (fsetting ) Tj ET Q q 0 0 0 rg BT 419.40 692.10 Td (development ) Tj ET Q q 0 0 0 rg BT 474.34 692.10 Td (spacing ) Tj ET Q q 0 0 0 rg BT 508.18 692.10 Td (areas ) Tj ET Q q 0 0 0 rg BT 532.01 692.10 Td (that ) Tj ET Q q 0 0 0 rg BT 550.30 692.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 680.10 Td (reasonably ) Tj ET Q q 0 0 0 rg BT 150.57 680.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 181.53 680.10 Td (of ) Tj ET Q q 0 0 0 rg BT 193.62 680.10 Td (production ) Tj ET Q q 0 0 0 rg BT 240.70 680.10 Td (when ) Tj ET Q q 0 0 0 rg BT 266.12 680.10 Td (drilled, ) Tj ET Q q 0 0 0 rg BT 298.48 680.10 Td (unless ) Tj ET Q q 0 0 0 rg BT 327.24 680.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 366.53 680.10 Td (using ) Tj ET Q q 0 0 0 rg BT 391.96 680.10 Td (reliable ) Tj ET Q q 0 0 0 rg BT 425.70 680.10 Td (technology ) Tj ET Q q 0 0 0 rg BT 473.89 680.10 Td (exists ) Tj ET Q q 0 0 0 rg BT 500.42 680.10 Td (that ) Tj ET Q q 0 0 0 rg BT 519.18 680.10 Td (establishes ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 668.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 148.75 668.10 Td (certainty ) Tj ET Q q 0 0 0 rg BT 186.23 668.10 Td (of ) Tj ET Q q 0 0 0 rg BT 197.06 668.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 238.44 668.10 Td (producibility ) Tj ET Q q 0 0 0 rg BT 292.60 668.10 Td (at ) Tj ET Q q 0 0 0 rg BT 302.31 668.10 Td (greater ) Tj ET Q q 0 0 0 rg BT 332.57 668.10 Td (distances.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 644.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 117.53 644.10 Td (Undrilled ) Tj ET Q q 0 0 0 rg BT 157.67 644.10 Td (locations ) Tj ET Q q 0 0 0 rg BT 195.58 644.10 Td (can ) Tj ET Q q 0 0 0 rg BT 211.27 644.10 Td (be ) Tj ET Q q 0 0 0 rg BT 222.53 644.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 262.10 644.10 Td (as ) Tj ET Q q 0 0 0 rg BT 272.25 644.10 Td (having ) Tj ET Q q 0 0 0 rg BT 301.28 644.10 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 354.18 644.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 388.75 644.10 Td (only ) Tj ET Q q 0 0 0 rg BT 408.35 644.10 Td (if ) Tj ET Q q 0 0 0 rg BT 416.27 644.10 Td (a ) Tj ET Q q 0 0 0 rg BT 422.52 644.10 Td (development ) Tj ET Q q 0 0 0 rg BT 475.98 644.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 495.01 644.10 Td (has ) Tj ET Q q 0 0 0 rg BT 510.15 644.10 Td (been ) Tj ET Q q 0 0 0 rg BT 530.84 644.10 Td (adopted ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 632.10 Td (indicating ) Tj ET Q q 0 0 0 rg BT 146.20 632.10 Td (that ) Tj ET Q q 0 0 0 rg BT 163.91 632.10 Td (they ) Tj ET Q q 0 0 0 rg BT 183.84 632.10 Td (are ) Tj ET Q q 0 0 0 rg BT 198.75 632.10 Td (scheduled ) Tj ET Q q 0 0 0 rg BT 241.45 632.10 Td (to ) Tj ET Q q 0 0 0 rg BT 251.94 632.10 Td (be ) Tj ET Q q 0 0 0 rg BT 264.09 632.10 Td (drilled ) Tj ET Q q 0 0 0 rg BT 292.91 632.10 Td (within ) Tj ET Q q 0 0 0 rg BT 321.17 632.10 Td (five ) Tj ET Q q 0 0 0 rg BT 339.43 632.10 Td (years, ) Tj ET Q q 0 0 0 rg BT 365.74 632.10 Td (unless ) Tj ET Q q 0 0 0 rg BT 393.45 632.10 Td (the ) Tj ET Q q 0 0 0 rg BT 408.38 632.10 Td (specific ) Tj ET Q q 0 0 0 rg BT 442.19 632.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 501.54 632.10 Td (justify ) Tj ET Q q 0 0 0 rg BT 529.81 632.10 Td (a ) Tj ET Q q 0 0 0 rg BT 536.96 632.10 Td (longer ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 620.10 Td (time.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 596.10 Td (\(iii\) ) Tj ET Q q 0 0 0 rg BT 121.47 596.10 Td (Under ) Tj ET Q q 0 0 0 rg BT 149.43 596.10 Td (no ) Tj ET Q q 0 0 0 rg BT 162.40 596.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 222.01 596.10 Td (shall ) Tj ET Q q 0 0 0 rg BT 243.86 596.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 284.05 596.10 Td (for ) Tj ET Q q 0 0 0 rg BT 298.68 596.10 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 352.74 596.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 388.47 596.10 Td (be ) Tj ET Q q 0 0 0 rg BT 400.88 596.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 449.39 596.10 Td (to ) Tj ET Q q 0 0 0 rg BT 460.13 596.10 Td (any ) Tj ET Q q 0 0 0 rg BT 477.54 596.10 Td (acreage ) Tj ET Q q 0 0 0 rg BT 511.04 596.10 Td (for ) Tj ET Q q 0 0 0 rg BT 525.67 596.10 Td (which ) Tj ET Q q 0 0 0 rg BT 553.07 596.10 Td (an ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 584.10 Td (application ) Tj ET Q q 0 0 0 rg BT 151.02 584.10 Td (of ) Tj ET Q q 0 0 0 rg BT 162.45 584.10 Td (fluid ) Tj ET Q q 0 0 0 rg BT 184.43 584.10 Td (injection ) Tj ET Q q 0 0 0 rg BT 222.51 584.10 Td (or ) Tj ET Q q 0 0 0 rg BT 233.93 584.10 Td (other ) Tj ET Q q 0 0 0 rg BT 257.57 584.10 Td (improved ) Tj ET Q q 0 0 0 rg BT 298.99 584.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 337.06 584.10 Td (technique ) Tj ET Q q 0 0 0 rg BT 379.02 584.10 Td (is ) Tj ET Q q 0 0 0 rg BT 388.79 584.10 Td (contemplated, ) Tj ET Q q 0 0 0 rg BT 448.25 584.10 Td (unless ) Tj ET Q q 0 0 0 rg BT 476.34 584.10 Td (such ) Tj ET Q q 0 0 0 rg BT 497.77 584.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 543.62 584.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 572.10 Td (been ) Tj ET Q q 0 0 0 rg BT 123.85 572.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 153.08 572.10 Td (ef) Tj ET Q q 0 0 0 rg BT 160.67 572.10 Td (fective ) Tj ET Q q 0 0 0 rg BT 189.34 572.10 Td (by ) Tj ET Q q 0 0 0 rg BT 200.81 572.10 Td (actual ) Tj ET Q q 0 0 0 rg BT 226.15 572.10 Td (projects ) Tj ET Q q 0 0 0 rg BT 259.28 572.10 Td (in ) Tj ET Q q 0 0 0 rg BT 268.52 572.10 Td (the ) Tj ET Q q 0 0 0 rg BT 282.21 572.10 Td (same ) Tj ET Q q 0 0 0 rg BT 304.22 572.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 341.23 572.10 Td (or ) Tj ET Q q 0 0 0 rg BT 351.03 572.10 Td (an ) Tj ET Q q 0 0 0 rg BT 361.94 572.10 Td (analogous ) Tj ET Q q 0 0 0 rg BT 403.95 572.10 Td (reservoir) Tj ET Q q 0 0 0 rg BT 439.09 572.10 Td (, ) Tj ET Q q 0 0 0 rg BT 443.06 572.10 Td (as ) Tj ET Q q 0 0 0 rg BT 452.86 572.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 484.31 572.10 Td (in ) Tj ET Q q 0 0 0 rg BT 493.56 572.10 Td ([section ) Tj ET Q q 0 0 0 rg BT 526.68 572.10 Td (210.4-10 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 560.10 Td (\(a\) ) Tj ET Q q 0 0 0 rg BT 117.10 560.10 Td (Definitions], ) Tj ET Q q 0 0 0 rg BT 170.42 560.10 Td (or ) Tj ET Q q 0 0 0 rg BT 181.25 560.10 Td (by ) Tj ET Q q 0 0 0 rg BT 193.75 560.10 Td (other ) Tj ET Q q 0 0 0 rg BT 216.80 560.10 Td (evidence ) Tj ET Q q 0 0 0 rg BT 254.83 560.10 Td (using ) Tj ET Q q 0 0 0 rg BT 279.00 560.10 Td (reliable ) Tj ET Q q 0 0 0 rg BT 311.48 560.10 Td (technology ) Tj ET Q q 0 0 0 rg BT 358.42 560.10 Td (establishing ) Tj ET Q q 0 0 0 rg BT 408.69 560.10 Td (reasonable ) Tj ET Q q 0 0 0 rg BT 453.94 560.10 Td (certainty) Tj ET Q q 0 0 0 rg BT 488.28 560.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 534.53505859375 m 174.685546875 534.53505859375 l s q 0 0 0 rg BT 49.50 536.10 Td (Methodology ) Tj ET Q q 0 0 0 rg BT 108.11 536.10 Td (and ) Tj ET Q q 0 0 0 rg BT 126.73 536.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 137.10 536.10 Td (ocedur) Tj ET Q q 0 0 0 rg BT 166.36 536.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 512.10 Td (Estimates ) Tj ET Q q 0 0 0 rg BT 126.42 512.10 Td (of ) Tj ET Q q 0 0 0 rg BT 136.78 512.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 171.58 512.10 Td (were ) Tj ET Q q 0 0 0 rg BT 193.04 512.10 Td (prepared ) Tj ET Q q 0 0 0 rg BT 230.05 512.10 Td (by ) Tj ET Q q 0 0 0 rg BT 242.09 512.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.34 512.10 Td (use ) Tj ET Q q 0 0 0 rg BT 271.70 512.10 Td (of ) Tj ET Q q 0 0 0 rg BT 282.07 512.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 329.64 512.10 Td (geologic, ) Tj ET Q q 0 0 0 rg BT 368.60 512.10 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 411.18 512.10 Td (engineering, ) Tj ET Q q 0 0 0 rg BT 462.92 512.10 Td (and ) Tj ET Q q 0 0 0 rg BT 479.39 512.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 523.08 512.10 Td (principles ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 500.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.76 500.10 Td (techniques ) Tj ET Q q 0 0 0 rg BT 112.35 500.10 Td (that ) Tj ET Q q 0 0 0 rg BT 130.17 500.10 Td (are ) Tj ET Q q 0 0 0 rg BT 145.20 500.10 Td (in ) Tj ET Q q 0 0 0 rg BT 155.81 500.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 203.59 500.10 Td (with ) Tj ET Q q 0 0 0 rg BT 224.19 500.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.24 500.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 274.82 500.10 Td (definitions ) Tj ET Q q 0 0 0 rg BT 320.42 500.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.57 500.10 Td (Rules ) Tj ET Q q 0 0 0 rg BT 357.18 500.10 Td (4-10\(a\) ) Tj ET Q q 0 0 0 rg BT 389.43 500.10 Td (\(1\)-\(32\) ) Tj ET Q q 0 0 0 rg BT 423.90 500.10 Td (of ) Tj ET Q q 0 0 0 rg BT 435.06 500.10 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 481.77 500.10 Td (S-X ) Tj ET Q q 0 0 0 rg BT 500.70 500.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.86 500.10 Td (the ) Tj ET Q q 0 0 0 rg BT 526.90 500.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 548.06 500.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 488.10 Td (with ) Tj ET Q q 0 0 0 rg BT 69.03 488.10 Td (practices ) Tj ET Q q 0 0 0 rg BT 106.31 488.10 Td (generally ) Tj ET Q q 0 0 0 rg BT 145.26 488.10 Td (recognized ) Tj ET Q q 0 0 0 rg BT 190.88 488.10 Td (by ) Tj ET Q q 0 0 0 rg BT 202.63 488.10 Td (the ) Tj ET Q q 0 0 0 rg BT 216.59 488.10 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 258.89 488.10 Td (industry ) Tj ET Q q 0 0 0 rg BT 293.42 488.10 Td (as ) Tj ET Q q 0 0 0 rg BT 303.50 488.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 343.56 488.10 Td (in ) Tj ET Q q 0 0 0 rg BT 353.09 488.10 Td (the ) Tj ET Q q 0 0 0 rg BT 367.06 488.10 Td (publication ) Tj ET Q q 0 0 0 rg BT 413.80 488.10 Td (of ) Tj ET Q q 0 0 0 rg BT 423.88 488.10 Td (the ) Tj ET Q q 0 0 0 rg BT 437.85 488.10 Td (Society ) Tj ET Q q 0 0 0 rg BT 469.59 488.10 Td (of ) Tj ET Q q 0 0 0 rg BT 479.67 488.10 Td (Petroleum ) Tj ET Q q 0 0 0 rg BT 522.53 488.10 Td (Engineers ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (entitled ) Tj ET Q q 0 0 0 rg BT 82.08 476.10 Td ("Standards ) Tj ET Q q 0 0 0 rg BT 128.18 476.10 Td (Pertaining ) Tj ET Q q 0 0 0 rg BT 171.87 476.10 Td (to ) Tj ET Q q 0 0 0 rg BT 182.23 476.10 Td (the ) Tj ET Q q 0 0 0 rg BT 197.04 476.10 Td (Estimating ) Tj ET Q q 0 0 0 rg BT 242.95 476.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.41 476.10 Td (Auditing ) Tj ET Q q 0 0 0 rg BT 297.55 476.10 Td (of ) Tj ET Q q 0 0 0 rg BT 308.46 476.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 323.83 476.10 Td (and ) Tj ET Q q 0 0 0 rg BT 340.85 476.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 358.99 476.10 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 397.67 476.10 Td (Information ) Tj ET Q q 0 0 0 rg BT 448.02 476.10 Td (\(Revision ) Tj ET Q q 0 0 0 rg BT 489.49 476.10 Td (as ) Tj ET Q q 0 0 0 rg BT 500.41 476.10 Td (of ) Tj ET Q q 0 0 0 rg BT 511.32 476.10 Td (February ) Tj ET Q q 0 0 0 rg BT 550.01 476.10 Td (19, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 464.10 Td (2007\)." ) Tj ET Q q 0 0 0 rg BT 81.99 464.10 Td (The ) Tj ET Q q 0 0 0 rg BT 100.32 464.10 Td (method ) Tj ET Q q 0 0 0 rg BT 133.10 464.10 Td (or ) Tj ET Q q 0 0 0 rg BT 144.22 464.10 Td (combination ) Tj ET Q q 0 0 0 rg BT 196.99 464.10 Td (of ) Tj ET Q q 0 0 0 rg BT 208.10 464.10 Td (methods ) Tj ET Q q 0 0 0 rg BT 244.77 464.10 Td (used ) Tj ET Q q 0 0 0 rg BT 265.89 464.10 Td (in ) Tj ET Q q 0 0 0 rg BT 276.45 464.10 Td (the ) Tj ET Q q 0 0 0 rg BT 291.45 464.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 326.45 464.10 Td (of ) Tj ET Q q 0 0 0 rg BT 337.56 464.10 Td (each ) Tj ET Q q 0 0 0 rg BT 358.66 464.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 396.98 464.10 Td (was ) Tj ET Q q 0 0 0 rg BT 415.31 464.10 Td (tempered ) Tj ET Q q 0 0 0 rg BT 455.30 464.10 Td (by ) Tj ET Q q 0 0 0 rg BT 468.08 464.10 Td (experience ) Tj ET Q q 0 0 0 rg BT 514.17 464.10 Td (with ) Tj ET Q q 0 0 0 rg BT 534.73 464.10 Td (similar ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 452.10 Td (reservoirs, ) Tj ET Q q 0 0 0 rg BT 93.93 452.10 Td (stage ) Tj ET Q q 0 0 0 rg BT 116.98 452.10 Td (of ) Tj ET Q q 0 0 0 rg BT 127.81 452.10 Td (development, ) Tj ET Q q 0 0 0 rg BT 184.46 452.10 Td (quality ) Tj ET Q q 0 0 0 rg BT 214.73 452.10 Td (and ) Tj ET Q q 0 0 0 rg BT 231.67 452.10 Td (completeness ) Tj ET Q q 0 0 0 rg BT 288.04 452.10 Td (of ) Tj ET Q q 0 0 0 rg BT 298.87 452.10 Td (basic ) Tj ET Q q 0 0 0 rg BT 321.92 452.10 Td (data, ) Tj ET Q q 0 0 0 rg BT 343.57 452.10 Td (and ) Tj ET Q q 0 0 0 rg BT 360.51 452.10 Td (production ) Tj ET Q q 0 0 0 rg BT 406.34 452.10 Td (history) Tj ET Q q 0 0 0 rg BT 433.46 452.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 428.10 Td (Based ) Tj ET Q q 0 0 0 rg BT 112.40 428.10 Td (on ) Tj ET Q q 0 0 0 rg BT 124.87 428.10 Td (the ) Tj ET Q q 0 0 0 rg BT 139.55 428.10 Td (current ) Tj ET Q q 0 0 0 rg BT 170.33 428.10 Td (stage ) Tj ET Q q 0 0 0 rg BT 193.34 428.10 Td (of ) Tj ET Q q 0 0 0 rg BT 204.14 428.10 Td (field ) Tj ET Q q 0 0 0 rg BT 224.93 428.10 Td (development, ) Tj ET Q q 0 0 0 rg BT 281.54 428.10 Td (production ) Tj ET Q q 0 0 0 rg BT 327.33 428.10 Td (performance, ) Tj ET Q q 0 0 0 rg BT 382.82 428.10 Td (the ) Tj ET Q q 0 0 0 rg BT 397.50 428.10 Td (development ) Tj ET Q q 0 0 0 rg BT 451.62 428.10 Td (plans ) Tj ET Q q 0 0 0 rg BT 475.19 428.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 513.20 428.10 Td (by ) Tj ET Q q 0 0 0 rg BT 525.67 428.10 Td (Denbury) Tj ET Q q 0 0 0 rg BT 560.01 428.10 Td (, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 416.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 416.10 Td (analyses ) Tj ET Q q 0 0 0 rg BT 102.82 416.10 Td (of ) Tj ET Q q 0 0 0 rg BT 113.65 416.10 Td (areas ) Tj ET Q q 0 0 0 rg BT 136.68 416.10 Td (of) Tj ET Q q 0 0 0 rg BT 144.83 416.10 Td (fsetting ) Tj ET Q q 0 0 0 rg BT 177.33 416.10 Td (existing ) Tj ET Q q 0 0 0 rg BT 211.49 416.10 Td (wells ) Tj ET Q q 0 0 0 rg BT 235.10 416.10 Td (with ) Tj ET Q q 0 0 0 rg BT 255.38 416.10 Td (test ) Tj ET Q q 0 0 0 rg BT 271.77 416.10 Td (or ) Tj ET Q q 0 0 0 rg BT 282.60 416.10 Td (production ) Tj ET Q q 0 0 0 rg BT 328.42 416.10 Td (data, ) Tj ET Q q 0 0 0 rg BT 350.08 416.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 385.33 416.10 Td (were ) Tj ET Q q 0 0 0 rg BT 407.26 416.10 Td (classified ) Tj ET Q q 0 0 0 rg BT 447.53 416.10 Td (as ) Tj ET Q q 0 0 0 rg BT 458.36 416.10 Td (proved.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 392.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 122.51 392.10 Td (has ) Tj ET Q q 0 0 0 rg BT 137.86 392.10 Td (represented ) Tj ET Q q 0 0 0 rg BT 185.97 392.10 Td (that ) Tj ET Q q 0 0 0 rg BT 202.99 392.10 Td (its ) Tj ET Q q 0 0 0 rg BT 214.46 392.10 Td (senior ) Tj ET Q q 0 0 0 rg BT 240.92 392.10 Td (management ) Tj ET Q q 0 0 0 rg BT 294.03 392.10 Td (is ) Tj ET Q q 0 0 0 rg BT 302.72 392.10 Td (committed ) Tj ET Q q 0 0 0 rg BT 347.51 392.10 Td (to ) Tj ET Q q 0 0 0 rg BT 357.31 392.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.54 392.10 Td (development ) Tj ET Q q 0 0 0 rg BT 425.22 392.10 Td (plan ) Tj ET Q q 0 0 0 rg BT 444.46 392.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 482.02 392.10 Td (by ) Tj ET Q q 0 0 0 rg BT 494.04 392.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 531.06 392.10 Td (and ) Tj ET Q q 0 0 0 rg BT 547.52 392.10 Td (that ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 87.89 380.10 Td (has ) Tj ET Q q 0 0 0 rg BT 104.62 380.10 Td (the ) Tj ET Q q 0 0 0 rg BT 120.24 380.10 Td (financial ) Tj ET Q q 0 0 0 rg BT 158.62 380.10 Td (capability ) Tj ET Q q 0 0 0 rg BT 201.45 380.10 Td (to ) Tj ET Q q 0 0 0 rg BT 212.63 380.10 Td (execute ) Tj ET Q q 0 0 0 rg BT 246.56 380.10 Td (the ) Tj ET Q q 0 0 0 rg BT 262.18 380.10 Td (development ) Tj ET Q q 0 0 0 rg BT 317.23 380.10 Td (plan, ) Tj ET Q q 0 0 0 rg BT 340.35 380.10 Td (including ) Tj ET Q q 0 0 0 rg BT 381.52 380.10 Td (the ) Tj ET Q q 0 0 0 rg BT 397.14 380.10 Td (drilling ) Tj ET Q q 0 0 0 rg BT 429.99 380.10 Td (and ) Tj ET Q q 0 0 0 rg BT 447.83 380.10 Td (completion ) Tj ET Q q 0 0 0 rg BT 496.22 380.10 Td (of ) Tj ET Q q 0 0 0 rg BT 507.95 380.10 Td (wells ) Tj ET Q q 0 0 0 rg BT 532.46 380.10 Td (and ) Tj ET Q q 0 0 0 rg BT 550.30 380.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (installation ) Tj ET Q q 0 0 0 rg BT 96.44 368.10 Td (of ) Tj ET Q q 0 0 0 rg BT 107.27 368.10 Td (equipment ) Tj ET Q q 0 0 0 rg BT 151.98 368.10 Td (and ) Tj ET Q q 0 0 0 rg BT 168.92 368.10 Td (facilities.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 344.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.34 344.10 Td (volumetric ) Tj ET Q q 0 0 0 rg BT 148.95 344.10 Td (method ) Tj ET Q q 0 0 0 rg BT 181.24 344.10 Td (was ) Tj ET Q q 0 0 0 rg BT 199.08 344.10 Td (used ) Tj ET Q q 0 0 0 rg BT 219.70 344.10 Td (to ) Tj ET Q q 0 0 0 rg BT 229.77 344.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 265.38 344.10 Td (the ) Tj ET Q q 0 0 0 rg BT 279.89 344.10 Td (original ) Tj ET Q q 0 0 0 rg BT 313.29 344.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 326.13 344.10 Td (in ) Tj ET Q q 0 0 0 rg BT 336.20 344.10 Td (place ) Tj ET Q q 0 0 0 rg BT 359.59 344.10 Td (\(OOIP\) ) Tj ET Q q 0 0 0 rg BT 391.88 344.10 Td (and ) Tj ET Q q 0 0 0 rg BT 408.61 344.10 Td (original ) Tj ET Q q 0 0 0 rg BT 442.00 344.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 457.62 344.10 Td (in ) Tj ET Q q 0 0 0 rg BT 467.69 344.10 Td (place ) Tj ET Q q 0 0 0 rg BT 491.08 344.10 Td (\(OGIP\). ) Tj ET Q q 0 0 0 rg BT 525.86 344.10 Td (Structure ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 332.10 Td (maps ) Tj ET Q q 0 0 0 rg BT 72.93 332.10 Td (were ) Tj ET Q q 0 0 0 rg BT 94.68 332.10 Td (prepared ) Tj ET Q q 0 0 0 rg BT 131.98 332.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.07 332.10 Td (delineate ) Tj ET Q q 0 0 0 rg BT 180.48 332.10 Td (each ) Tj ET Q q 0 0 0 rg BT 201.12 332.10 Td (reservoir) Tj ET Q q 0 0 0 rg BT 236.26 332.10 Td (, ) Tj ET Q q 0 0 0 rg BT 241.08 332.10 Td (and ) Tj ET Q q 0 0 0 rg BT 257.84 332.10 Td (isopach ) Tj ET Q q 0 0 0 rg BT 290.70 332.10 Td (maps ) Tj ET Q q 0 0 0 rg BT 314.13 332.10 Td (were ) Tj ET Q q 0 0 0 rg BT 335.88 332.10 Td (constructed ) Tj ET Q q 0 0 0 rg BT 384.30 332.10 Td (to ) Tj ET Q q 0 0 0 rg BT 394.40 332.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 430.04 332.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 467.90 332.10 Td (volume. ) Tj ET Q q 0 0 0 rg BT 502.71 332.10 Td (Electrical ) Tj ET Q q 0 0 0 rg BT 543.34 332.10 Td (logs, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 320.10 Td (radioactivity ) Tj ET Q q 0 0 0 rg BT 102.87 320.10 Td (logs, ) Tj ET Q q 0 0 0 rg BT 124.87 320.10 Td (core ) Tj ET Q q 0 0 0 rg BT 144.90 320.10 Td (analyses, ) Tj ET Q q 0 0 0 rg BT 184.11 320.10 Td (and ) Tj ET Q q 0 0 0 rg BT 201.38 320.10 Td (other ) Tj ET Q q 0 0 0 rg BT 224.75 320.10 Td (available ) Tj ET Q q 0 0 0 rg BT 263.67 320.10 Td (data ) Tj ET Q q 0 0 0 rg BT 283.16 320.10 Td (were ) Tj ET Q q 0 0 0 rg BT 305.42 320.10 Td (used ) Tj ET Q q 0 0 0 rg BT 326.58 320.10 Td (to ) Tj ET Q q 0 0 0 rg BT 337.18 320.10 Td (prepare ) Tj ET Q q 0 0 0 rg BT 369.99 320.10 Td (these ) Tj ET Q q 0 0 0 rg BT 393.36 320.10 Td (maps ) Tj ET Q q 0 0 0 rg BT 417.30 320.10 Td (as ) Tj ET Q q 0 0 0 rg BT 428.46 320.10 Td (well ) Tj ET Q q 0 0 0 rg BT 448.51 320.10 Td (as ) Tj ET Q q 0 0 0 rg BT 459.67 320.10 Td (to ) Tj ET Q q 0 0 0 rg BT 470.28 320.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 506.43 320.10 Td (representative ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 308.10 Td (values ) Tj ET Q q 0 0 0 rg BT 77.66 308.10 Td (for ) Tj ET Q q 0 0 0 rg BT 91.92 308.10 Td (porosity ) Tj ET Q q 0 0 0 rg BT 127.31 308.10 Td (and ) Tj ET Q q 0 0 0 rg BT 144.36 308.10 Td (water ) Tj ET Q q 0 0 0 rg BT 169.18 308.10 Td (saturation. ) Tj ET Q q 0 0 0 rg BT 213.53 308.10 Td (When ) Tj ET Q q 0 0 0 rg BT 240.01 308.10 Td (adequate ) Tj ET Q q 0 0 0 rg BT 278.16 308.10 Td (data ) Tj ET Q q 0 0 0 rg BT 297.42 308.10 Td (were ) Tj ET Q q 0 0 0 rg BT 319.46 308.10 Td (available ) Tj ET Q q 0 0 0 rg BT 358.16 308.10 Td (and ) Tj ET Q q 0 0 0 rg BT 375.20 308.10 Td (when ) Tj ET Q q 0 0 0 rg BT 399.47 308.10 Td (circumstances ) Tj ET Q q 0 0 0 rg BT 458.72 308.10 Td (justified, ) Tj ET Q q 0 0 0 rg BT 496.60 308.10 Td (material ) Tj ET Q q 0 0 0 rg BT 531.97 308.10 Td (balance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 296.10 Td (methods ) Tj ET Q q 0 0 0 rg BT 85.89 296.10 Td (were ) Tj ET Q q 0 0 0 rg BT 107.82 296.10 Td (used ) Tj ET Q q 0 0 0 rg BT 128.65 296.10 Td (to ) Tj ET Q q 0 0 0 rg BT 138.92 296.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 174.74 296.10 Td (OOIP) Tj ET Q q 0 0 0 rg BT 197.71 296.10 Td ( ) Tj ET Q q 0 0 0 rg BT 200.21 296.10 Td (or ) Tj ET Q q 0 0 0 rg BT 211.04 296.10 Td (OGIP) Tj ET Q q 0 0 0 rg BT 233.26 296.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 272.10 Td (Estimates ) Tj ET Q q 0 0 0 rg BT 126.69 272.10 Td (of ) Tj ET Q q 0 0 0 rg BT 137.32 272.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 172.40 272.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 209.68 272.10 Td (were ) Tj ET Q q 0 0 0 rg BT 231.42 272.10 Td (obtained ) Tj ET Q q 0 0 0 rg BT 268.16 272.10 Td (after ) Tj ET Q q 0 0 0 rg BT 288.78 272.10 Td (applying ) Tj ET Q q 0 0 0 rg BT 326.08 272.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 363.36 272.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 392.87 272.10 Td (to ) Tj ET Q q 0 0 0 rg BT 402.96 272.10 Td (OOIP) Tj ET Q q 0 0 0 rg BT 425.92 272.10 Td ( ) Tj ET Q q 0 0 0 rg BT 428.23 272.10 Td (and ) Tj ET Q q 0 0 0 rg BT 444.97 272.10 Td (OGIP) Tj ET Q q 0 0 0 rg BT 467.20 272.10 Td (. ) Tj ET Q q 0 0 0 rg BT 471.84 272.10 Td (These ) Tj ET Q q 0 0 0 rg BT 498.02 272.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 535.30 272.10 Td (factors ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 260.10 Td (were ) Tj ET Q q 0 0 0 rg BT 71.29 260.10 Td (based ) Tj ET Q q 0 0 0 rg BT 96.42 260.10 Td (on ) Tj ET Q q 0 0 0 rg BT 108.78 260.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 165.02 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 175.71 260.10 Td (the ) Tj ET Q q 0 0 0 rg BT 190.29 260.10 Td (type ) Tj ET Q q 0 0 0 rg BT 209.87 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 220.56 260.10 Td (ener) Tj ET Q q 0 0 0 rg BT 237.59 260.10 Td (gy ) Tj ET Q q 0 0 0 rg BT 249.95 260.10 Td (inherent ) Tj ET Q q 0 0 0 rg BT 285.08 260.10 Td (in ) Tj ET Q q 0 0 0 rg BT 295.22 260.10 Td (the ) Tj ET Q q 0 0 0 rg BT 309.80 260.10 Td (reservoirs, ) Tj ET Q q 0 0 0 rg BT 354.09 260.10 Td (analyses ) Tj ET Q q 0 0 0 rg BT 390.33 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 401.02 260.10 Td (the ) Tj ET Q q 0 0 0 rg BT 415.60 260.10 Td (petroleum, ) Tj ET Q q 0 0 0 rg BT 461.00 260.10 Td (the ) Tj ET Q q 0 0 0 rg BT 475.58 260.10 Td (structural ) Tj ET Q q 0 0 0 rg BT 515.71 260.10 Td (positions ) Tj ET Q q 0 0 0 rg BT 554.19 260.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 248.10 Td (the ) Tj ET Q q 0 0 0 rg BT 63.27 248.10 Td (properties, ) Tj ET Q q 0 0 0 rg BT 107.30 248.10 Td (and ) Tj ET Q q 0 0 0 rg BT 123.29 248.10 Td (the ) Tj ET Q q 0 0 0 rg BT 137.06 248.10 Td (production ) Tj ET Q q 0 0 0 rg BT 181.93 248.10 Td (histories. ) Tj ET Q q 0 0 0 rg BT 219.76 248.10 Td (When ) Tj ET Q q 0 0 0 rg BT 245.19 248.10 Td (applicable, ) Tj ET Q q 0 0 0 rg BT 290.33 248.10 Td (material ) Tj ET Q q 0 0 0 rg BT 324.63 248.10 Td (balance ) Tj ET Q q 0 0 0 rg BT 356.72 248.10 Td (and ) Tj ET Q q 0 0 0 rg BT 372.71 248.10 Td (other ) Tj ET Q q 0 0 0 rg BT 394.80 248.10 Td (engineering ) Tj ET Q q 0 0 0 rg BT 443.56 248.10 Td (methods ) Tj ET Q q 0 0 0 rg BT 478.99 248.10 Td (were ) Tj ET Q q 0 0 0 rg BT 499.97 248.10 Td (used ) Tj ET Q q 0 0 0 rg BT 519.85 248.10 Td (to ) Tj ET Q q 0 0 0 rg BT 529.18 248.10 Td (estimate ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 236.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 87.02 236.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 116.77 236.10 Td (based ) Tj ET Q q 0 0 0 rg BT 142.08 236.10 Td (on ) Tj ET Q q 0 0 0 rg BT 154.63 236.10 Td (an ) Tj ET Q q 0 0 0 rg BT 166.61 236.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 201.37 236.10 Td (of ) Tj ET Q q 0 0 0 rg BT 212.24 236.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 250.33 236.10 Td (performance, ) Tj ET Q q 0 0 0 rg BT 305.89 236.10 Td (including ) Tj ET Q q 0 0 0 rg BT 346.21 236.10 Td (production ) Tj ET Q q 0 0 0 rg BT 392.08 236.10 Td (rate, ) Tj ET Q q 0 0 0 rg BT 412.11 236.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 450.19 236.10 Td (pressure, ) Tj ET Q q 0 0 0 rg BT 488.55 236.10 Td (and ) Tj ET Q q 0 0 0 rg BT 505.54 236.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 543.62 236.10 Td (fluid ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 224.10 Td (properties.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 200.10 Td (For ) Tj ET Q q 0 0 0 rg BT 102.06 200.10 Td (depletion-type ) Tj ET Q q 0 0 0 rg BT 162.48 200.10 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 204.57 200.10 Td (or ) Tj ET Q q 0 0 0 rg BT 215.56 200.10 Td (those ) Tj ET Q q 0 0 0 rg BT 239.34 200.10 Td (whose ) Tj ET Q q 0 0 0 rg BT 267.55 200.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 320.74 200.10 Td (disclosed ) Tj ET Q q 0 0 0 rg BT 360.62 200.10 Td (a ) Tj ET Q q 0 0 0 rg BT 367.72 200.10 Td (reliable ) Tj ET Q q 0 0 0 rg BT 400.36 200.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 431.90 200.10 Td (in ) Tj ET Q q 0 0 0 rg BT 442.34 200.10 Td (producing-rate ) Tj ET Q q 0 0 0 rg BT 503.87 200.10 Td (trends ) Tj ET Q q 0 0 0 rg BT 530.97 200.10 Td (or ) Tj ET Q q 0 0 0 rg BT 541.96 200.10 Td (other ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 188.10 Td (diagnostic ) Tj ET Q q 0 0 0 rg BT 95.38 188.10 Td (characteristics, ) Tj ET Q q 0 0 0 rg BT 159.84 188.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 197.37 188.10 Td (were ) Tj ET Q q 0 0 0 rg BT 221.57 188.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 264.66 188.10 Td (by ) Tj ET Q q 0 0 0 rg BT 279.44 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 296.43 188.10 Td (application ) Tj ET Q q 0 0 0 rg BT 345.63 188.10 Td (of ) Tj ET Q q 0 0 0 rg BT 358.73 188.10 Td (appropriate ) Tj ET Q q 0 0 0 rg BT 409.04 188.10 Td (decline ) Tj ET Q q 0 0 0 rg BT 442.68 188.10 Td (curves ) Tj ET Q q 0 0 0 rg BT 473.55 188.10 Td (or ) Tj ET Q q 0 0 0 rg BT 486.66 188.10 Td (other ) Tj ET Q q 0 0 0 rg BT 511.98 188.10 Td (performance ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 176.10 Td (relationships. ) Tj ET Q q 0 0 0 rg BT 105.61 176.10 Td (In ) Tj ET Q q 0 0 0 rg BT 116.45 176.10 Td (the ) Tj ET Q q 0 0 0 rg BT 131.17 176.10 Td (analyses ) Tj ET Q q 0 0 0 rg BT 167.55 176.10 Td (of ) Tj ET Q q 0 0 0 rg BT 178.39 176.10 Td (production-decline ) Tj ET Q q 0 0 0 rg BT 256.42 176.10 Td (curves, ) Tj ET Q q 0 0 0 rg BT 287.53 176.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 322.79 176.10 Td (were ) Tj ET Q q 0 0 0 rg BT 344.73 176.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 385.55 176.10 Td (only ) Tj ET Q q 0 0 0 rg BT 405.84 176.10 Td (to ) Tj ET Q q 0 0 0 rg BT 416.12 176.10 Td (the ) Tj ET Q q 0 0 0 rg BT 430.85 176.10 Td (limits ) Tj ET Q q 0 0 0 rg BT 456.14 176.10 Td (of ) Tj ET Q q 0 0 0 rg BT 466.97 176.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 508.35 176.10 Td (production ) Tj ET Q q 0 0 0 rg BT 554.18 176.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 164.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 81.99 164.10 Td (under ) Tj ET Q q 0 0 0 rg BT 107.25 164.10 Td (the ) Tj ET Q q 0 0 0 rg BT 121.97 164.10 Td (Definition ) Tj ET Q q 0 0 0 rg BT 165.57 164.10 Td (of ) Tj ET Q q 0 0 0 rg BT 176.40 164.10 Td (Reserves ) Tj ET Q q 0 0 0 rg BT 215.00 164.10 Td (heading ) Tj ET Q q 0 0 0 rg BT 249.16 164.10 Td (of ) Tj ET Q q 0 0 0 rg BT 259.99 164.10 Td (this ) Tj ET Q q 0 0 0 rg BT 276.94 164.10 Td (report.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 140.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.03 140.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 125.44 140.10 Td (cases, ) Tj ET Q q 0 0 0 rg BT 151.24 140.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 186.20 140.10 Td (were ) Tj ET Q q 0 0 0 rg BT 207.84 140.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 248.36 140.10 Td (by ) Tj ET Q q 0 0 0 rg BT 260.56 140.10 Td (incorporating ) Tj ET Q q 0 0 0 rg BT 316.64 140.10 Td (elements ) Tj ET Q q 0 0 0 rg BT 354.39 140.10 Td (of ) Tj ET Q q 0 0 0 rg BT 364.92 140.10 Td (analogy ) Tj ET Q q 0 0 0 rg BT 398.78 140.10 Td (with ) Tj ET Q q 0 0 0 rg BT 418.76 140.10 Td (similar ) Tj ET Q q 0 0 0 rg BT 448.74 140.10 Td (wells ) Tj ET Q q 0 0 0 rg BT 472.05 140.10 Td (or ) Tj ET Q q 0 0 0 rg BT 482.58 140.10 Td (reservoirs ) Tj ET Q q 0 0 0 rg BT 524.21 140.10 Td (for ) Tj ET Q q 0 0 0 rg BT 538.08 140.10 Td (which ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 128.10 Td (more ) Tj ET Q q 0 0 0 rg BT 72.55 128.10 Td (complete ) Tj ET Q q 0 0 0 rg BT 111.70 128.10 Td (data ) Tj ET Q q 0 0 0 rg BT 130.85 128.10 Td (were ) Tj ET Q q 0 0 0 rg BT 152.78 128.10 Td (available.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 104.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.36 104.10 Td (the ) Tj ET Q q 0 0 0 rg BT 111.11 104.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 155.30 104.10 Td (of ) Tj ET Q q 0 0 0 rg BT 166.16 104.10 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 219.79 104.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 257.58 104.10 Td (type-well ) Tj ET Q q 0 0 0 rg BT 297.88 104.10 Td (analysis ) Tj ET Q q 0 0 0 rg BT 332.63 104.10 Td (was ) Tj ET Q q 0 0 0 rg BT 350.71 104.10 Td (performed ) Tj ET Q q 0 0 0 rg BT 394.89 104.10 Td (using ) Tj ET Q q 0 0 0 rg BT 419.09 104.10 Td (well ) Tj ET Q q 0 0 0 rg BT 438.84 104.10 Td (data ) Tj ET Q q 0 0 0 rg BT 458.03 104.10 Td (from ) Tj ET Q q 0 0 0 rg BT 480.00 104.10 Td (analogous ) Tj ET Q q 0 0 0 rg BT 523.08 104.10 Td (reservoirs ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 92.10 Td (for ) Tj ET Q q 0 0 0 rg BT 63.66 92.10 Td (which ) Tj ET Q q 0 0 0 rg BT 90.60 92.10 Td (more ) Tj ET Q q 0 0 0 rg BT 113.65 92.10 Td (complete ) Tj ET Q q 0 0 0 rg BT 152.80 92.10 Td (historical ) Tj ET Q q 0 0 0 rg BT 192.51 92.10 Td (performance ) Tj ET Q q 0 0 0 rg BT 245.53 92.10 Td (data ) Tj ET Q q 0 0 0 rg BT 264.69 92.10 Td (were ) Tj ET Q q 0 0 0 rg BT 286.61 92.10 Td (available.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 68.10 Td (Data ) Tj ET Q q 0 0 0 rg BT 106.99 68.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 145.15 68.10 Td (by ) Tj ET Q q 0 0 0 rg BT 157.76 68.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 195.36 68.10 Td (from ) Tj ET Q q 0 0 0 rg BT 217.41 68.10 Td (wells ) Tj ET Q q 0 0 0 rg BT 241.13 68.10 Td (drilled ) Tj ET Q q 0 0 0 rg BT 269.84 68.10 Td (through ) Tj ET Q q 0 0 0 rg BT 303.56 68.10 Td (December ) Tj ET Q q 0 0 0 rg BT 347.26 68.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 362.37 68.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 387.48 68.10 Td (and ) Tj ET Q q 0 0 0 rg BT 404.53 68.10 Td (made ) Tj ET Q q 0 0 0 rg BT 428.80 68.10 Td (available ) Tj ET Q q 0 0 0 rg BT 467.50 68.10 Td (for ) Tj ET Q q 0 0 0 rg BT 481.77 68.10 Td (this ) Tj ET Q q 0 0 0 rg BT 498.83 68.10 Td (evaluation ) Tj ET Q q 0 0 0 rg BT 543.09 68.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 56.10 Td (used ) Tj ET Q q 0 0 0 rg BT 70.53 56.10 Td (to ) Tj ET Q q 0 0 0 rg BT 81.01 56.10 Td (prepare ) Tj ET Q q 0 0 0 rg BT 113.68 56.10 Td (the ) Tj ET Q q 0 0 0 rg BT 128.60 56.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 164.06 56.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 203.97 56.10 Td (herein. ) Tj ET Q q 0 0 0 rg BT 233.96 56.10 Td (These ) Tj ET Q q 0 0 0 rg BT 260.53 56.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 295.99 56.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 335.90 56.10 Td (were ) Tj ET Q q 0 0 0 rg BT 358.03 56.10 Td (based ) Tj ET Q q 0 0 0 rg BT 383.50 56.10 Td (on ) Tj ET Q q 0 0 0 rg BT 396.20 56.10 Td (consideration ) Tj ET Q q 0 0 0 rg BT 452.77 56.10 Td (of ) Tj ET Q q 0 0 0 rg BT 463.80 56.10 Td (monthly ) Tj ET Q q 0 0 0 rg BT 499.83 56.10 Td (production ) Tj ET Q q 0 0 0 rg BT 545.86 56.10 Td (data ) Tj ET Q endstream endobj 247 0 obj <> endobj 248 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 740.10 Td (available ) Tj ET Q q 0 0 0 rg BT 88.46 740.10 Td (for ) Tj ET Q q 0 0 0 rg BT 102.99 740.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 133.06 740.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 175.92 740.10 Td (only ) Tj ET Q q 0 0 0 rg BT 196.57 740.10 Td (through ) Tj ET Q q 0 0 0 rg BT 230.55 740.10 Td (November ) Tj ET Q q 0 0 0 rg BT 275.63 740.10 Td (2018. ) Tj ET Q q 0 0 0 rg BT 301.00 740.10 Td (Estimated ) Tj ET Q q 0 0 0 rg BT 343.86 740.10 Td (cumulative ) Tj ET Q q 0 0 0 rg BT 391.16 740.10 Td (production, ) Tj ET Q q 0 0 0 rg BT 439.86 740.10 Td (as ) Tj ET Q q 0 0 0 rg BT 451.06 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 462.26 740.10 Td (December ) Tj ET Q q 0 0 0 rg BT 506.21 740.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 521.58 740.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 546.96 740.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (deducted ) Tj ET Q q 0 0 0 rg BT 87.92 728.10 Td (from ) Tj ET Q q 0 0 0 rg BT 109.69 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 124.24 728.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 164.89 728.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 188.34 728.10 Td (ultimate ) Tj ET Q q 0 0 0 rg BT 223.43 728.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 260.74 728.10 Td (to ) Tj ET Q q 0 0 0 rg BT 270.85 728.10 Td (estimate ) Tj ET Q q 0 0 0 rg BT 306.50 728.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 329.94 728.10 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 367.37 728.10 Td (This ) Tj ET Q q 0 0 0 rg BT 387.47 728.10 Td (required ) Tj ET Q q 0 0 0 rg BT 423.12 728.10 Td (that ) Tj ET Q q 0 0 0 rg BT 440.45 728.10 Td (production ) Tj ET Q q 0 0 0 rg BT 486.10 728.10 Td (be ) Tj ET Q q 0 0 0 rg BT 497.87 728.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 538.52 728.10 Td (for ) Tj ET Q q 0 0 0 rg BT 552.51 728.10 Td (up ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.78 716.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 67.28 716.10 Td (month.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 692.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 101.34 692.10 Td (and ) Tj ET Q q 0 0 0 rg BT 118.84 692.10 Td (condensate ) Tj ET Q q 0 0 0 rg BT 166.32 692.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 202.14 692.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 243.52 692.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 271.57 692.10 Td (are ) Tj ET Q q 0 0 0 rg BT 286.84 692.10 Td (to ) Tj ET Q q 0 0 0 rg BT 297.67 692.10 Td (be ) Tj ET Q q 0 0 0 rg BT 310.17 692.10 Td (recovered ) Tj ET Q q 0 0 0 rg BT 352.65 692.10 Td (by ) Tj ET Q q 0 0 0 rg BT 365.71 692.10 Td (normal ) Tj ET Q q 0 0 0 rg BT 397.09 692.10 Td (field ) Tj ET Q q 0 0 0 rg BT 418.48 692.10 Td (separation. ) Tj ET Q q 0 0 0 rg BT 465.13 692.10 Td (NGL) Tj ET Q q 0 0 0 rg BT 485.32 692.10 Td ( ) Tj ET Q q 0 0 0 rg BT 488.38 692.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 524.20 692.10 Td (estimated ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 680.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 77.29 680.10 Td (include ) Tj ET Q q 0 0 0 rg BT 109.53 680.10 Td (C) Tj ET Q BT /F1 10.00 Tf ET BT /F1 6.50 Tf ET q 0 0 0 rg BT 116.20 678.67 Td (5+) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 123.12 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 125.93 680.10 Td (and ) Tj ET Q q 0 0 0 rg BT 143.17 680.10 Td (liquefied ) Tj ET Q q 0 0 0 rg BT 181.52 680.10 Td (petroleum ) Tj ET Q q 0 0 0 rg BT 224.87 680.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 241.01 680.10 Td (\(LPG\), ) Tj ET Q q 0 0 0 rg BT 271.87 680.10 Td (which ) Tj ET Q q 0 0 0 rg BT 299.11 680.10 Td (consists ) Tj ET Q q 0 0 0 rg BT 333.59 680.10 Td (primarily ) Tj ET Q q 0 0 0 rg BT 373.61 680.10 Td (of ) Tj ET Q q 0 0 0 rg BT 384.75 680.10 Td (propane ) Tj ET Q q 0 0 0 rg BT 419.76 680.10 Td (and ) Tj ET Q q 0 0 0 rg BT 437.01 680.10 Td (butane ) Tj ET Q q 0 0 0 rg BT 466.47 680.10 Td (fractions. ) Tj ET Q q 0 0 0 rg BT 506.77 680.10 Td (NGL) Tj ET Q q 0 0 0 rg BT 526.95 680.10 Td ( ) Tj ET Q q 0 0 0 rg BT 529.75 680.10 Td (reserves ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 668.10 Td (are ) Tj ET Q q 0 0 0 rg BT 64.02 668.10 Td (the ) Tj ET Q q 0 0 0 rg BT 78.56 668.10 Td (result ) Tj ET Q q 0 0 0 rg BT 103.09 668.10 Td (of ) Tj ET Q q 0 0 0 rg BT 113.74 668.10 Td (low-temperature ) Tj ET Q q 0 0 0 rg BT 182.13 668.10 Td (plant ) Tj ET Q q 0 0 0 rg BT 204.45 668.10 Td (processing. ) Tj ET Q q 0 0 0 rg BT 252.03 668.10 Td (Oil, ) Tj ET Q q 0 0 0 rg BT 269.63 668.10 Td (condensate, ) Tj ET Q q 0 0 0 rg BT 318.87 668.10 Td (and ) Tj ET Q q 0 0 0 rg BT 335.62 668.10 Td (NGL) Tj ET Q q 0 0 0 rg BT 355.80 668.10 Td ( ) Tj ET Q q 0 0 0 rg BT 358.12 668.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 393.20 668.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 428.83 668.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 456.13 668.10 Td (are ) Tj ET Q q 0 0 0 rg BT 470.65 668.10 Td (expressed ) Tj ET Q q 0 0 0 rg BT 512.40 668.10 Td (in ) Tj ET Q q 0 0 0 rg BT 522.50 668.10 Td (thousands ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 656.10 Td (of ) Tj ET Q q 0 0 0 rg BT 59.85 656.10 Td (barrels ) Tj ET Q q 0 0 0 rg BT 89.07 656.10 Td (\(Mbbl\) ) Tj ET Q q 0 0 0 rg BT 119.42 656.10 Td (representing ) Tj ET Q q 0 0 0 rg BT 170.86 656.10 Td (42 ) Tj ET Q q 0 0 0 rg BT 182.87 656.10 Td (United ) Tj ET Q q 0 0 0 rg BT 212.11 656.10 Td (States ) Tj ET Q q 0 0 0 rg BT 238.01 656.10 Td (gallons ) Tj ET Q q 0 0 0 rg BT 268.91 656.10 Td (per ) Tj ET Q q 0 0 0 rg BT 283.70 656.10 Td (barrel. ) Tj ET Q q 0 0 0 rg BT 311.53 656.10 Td (For ) Tj ET Q q 0 0 0 rg BT 327.44 656.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 366.11 656.10 Td (purposes, ) Tj ET Q q 0 0 0 rg BT 406.18 656.10 Td (oil, ) Tj ET Q q 0 0 0 rg BT 421.25 656.10 Td (condensate, ) Tj ET Q q 0 0 0 rg BT 470.19 656.10 Td (and ) Tj ET Q q 0 0 0 rg BT 486.65 656.10 Td (NGL) Tj ET Q q 0 0 0 rg BT 506.83 656.10 Td ( ) Tj ET Q q 0 0 0 rg BT 508.85 656.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 543.62 656.10 Td (have ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 644.10 Td (been ) Tj ET Q q 0 0 0 rg BT 70.88 644.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 111.70 644.10 Td (separately ) Tj ET Q q 0 0 0 rg BT 154.73 644.10 Td (and ) Tj ET Q q 0 0 0 rg BT 171.67 644.10 Td (are ) Tj ET Q q 0 0 0 rg BT 186.38 644.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 227.19 644.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 254.68 644.10 Td (as ) Tj ET Q q 0 0 0 rg BT 265.51 644.10 Td (a ) Tj ET Q q 0 0 0 rg BT 272.44 644.10 Td (summed ) Tj ET Q q 0 0 0 rg BT 308.83 644.10 Td (quantity) Tj ET Q q 0 0 0 rg BT 340.96 644.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 620.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 103.68 620.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 145.19 620.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 186.14 620.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 213.76 620.10 Td (are ) Tj ET Q q 0 0 0 rg BT 228.59 620.10 Td (expressed ) Tj ET Q q 0 0 0 rg BT 270.65 620.10 Td (as ) Tj ET Q q 0 0 0 rg BT 281.61 620.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 303.68 620.10 Td (gas. ) Tj ET Q q 0 0 0 rg BT 322.14 620.10 Td (Sales ) Tj ET Q q 0 0 0 rg BT 345.88 620.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 361.84 620.10 Td (is ) Tj ET Q q 0 0 0 rg BT 371.13 620.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 403.75 620.10 Td (as ) Tj ET Q q 0 0 0 rg BT 414.71 620.10 Td (the ) Tj ET Q q 0 0 0 rg BT 429.56 620.10 Td (total ) Tj ET Q q 0 0 0 rg BT 449.96 620.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 465.92 620.10 Td (to ) Tj ET Q q 0 0 0 rg BT 476.33 620.10 Td (be ) Tj ET Q q 0 0 0 rg BT 488.39 620.10 Td (produced ) Tj ET Q q 0 0 0 rg BT 528.23 620.10 Td (from ) Tj ET Q q 0 0 0 rg BT 550.30 620.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 608.10 Td (reservoirs, ) Tj ET Q q 0 0 0 rg BT 93.47 608.10 Td (measured ) Tj ET Q q 0 0 0 rg BT 133.83 608.10 Td (at ) Tj ET Q q 0 0 0 rg BT 143.10 608.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.36 608.10 Td (point ) Tj ET Q q 0 0 0 rg BT 179.96 608.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.33 608.10 Td (delivery) Tj ET Q q 0 0 0 rg BT 222.45 608.10 Td (, ) Tj ET Q q 0 0 0 rg BT 226.99 608.10 Td (after ) Tj ET Q q 0 0 0 rg BT 247.35 608.10 Td (reduction ) Tj ET Q q 0 0 0 rg BT 287.16 608.10 Td (for ) Tj ET Q q 0 0 0 rg BT 300.87 608.10 Td (fuel ) Tj ET Q q 0 0 0 rg BT 318.46 608.10 Td (usage, ) Tj ET Q q 0 0 0 rg BT 345.77 608.10 Td (flare, ) Tj ET Q q 0 0 0 rg BT 368.63 608.10 Td (and ) Tj ET Q q 0 0 0 rg BT 385.12 608.10 Td (shrinkage ) Tj ET Q q 0 0 0 rg BT 426.04 608.10 Td (resulting ) Tj ET Q q 0 0 0 rg BT 463.08 608.10 Td (from ) Tj ET Q q 0 0 0 rg BT 484.56 608.10 Td (field ) Tj ET Q q 0 0 0 rg BT 504.93 608.10 Td (separation ) Tj ET Q q 0 0 0 rg BT 548.07 608.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (processing. ) Tj ET Q q 0 0 0 rg BT 96.82 596.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 114.42 596.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 149.23 596.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 189.60 596.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 216.64 596.10 Td (are ) Tj ET Q q 0 0 0 rg BT 230.90 596.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 266.26 596.10 Td (as ) Tj ET Q q 0 0 0 rg BT 276.64 596.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 298.13 596.10 Td (gas. ) Tj ET Q q 0 0 0 rg BT 316.01 596.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 333.62 596.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 368.43 596.10 Td (are ) Tj ET Q q 0 0 0 rg BT 382.68 596.10 Td (expressed ) Tj ET Q q 0 0 0 rg BT 424.16 596.10 Td (at ) Tj ET Q q 0 0 0 rg BT 433.43 596.10 Td (a ) Tj ET Q q 0 0 0 rg BT 439.92 596.10 Td (temperature ) Tj ET Q q 0 0 0 rg BT 489.72 596.10 Td (base ) Tj ET Q q 0 0 0 rg BT 509.54 596.10 Td (of ) Tj ET Q q 0 0 0 rg BT 519.92 596.10 Td (60 ) Tj ET Q q 0 0 0 rg BT 531.97 596.10 Td (degrees ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (Fahrenheit ) Tj ET Q q 0 0 0 rg BT 95.37 584.10 Td (\(�F\) ) Tj ET Q q 0 0 0 rg BT 114.70 584.10 Td (and ) Tj ET Q q 0 0 0 rg BT 132.25 584.10 Td (at ) Tj ET Q q 0 0 0 rg BT 142.57 584.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.90 584.10 Td (pressure ) Tj ET Q q 0 0 0 rg BT 194.32 584.10 Td (base ) Tj ET Q q 0 0 0 rg BT 215.20 584.10 Td (of ) Tj ET Q q 0 0 0 rg BT 226.64 584.10 Td (the ) Tj ET Q q 0 0 0 rg BT 241.96 584.10 Td (state ) Tj ET Q q 0 0 0 rg BT 263.40 584.10 Td (in ) Tj ET Q q 0 0 0 rg BT 274.28 584.10 Td (which ) Tj ET Q q 0 0 0 rg BT 301.83 584.10 Td (the ) Tj ET Q q 0 0 0 rg BT 317.15 584.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 353.02 584.10 Td (are ) Tj ET Q q 0 0 0 rg BT 368.34 584.10 Td (located. ) Tj ET Q q 0 0 0 rg BT 402.82 584.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 421.48 584.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 457.34 584.10 Td (included ) Tj ET Q q 0 0 0 rg BT 494.88 584.10 Td (in ) Tj ET Q q 0 0 0 rg BT 505.77 584.10 Td (this ) Tj ET Q q 0 0 0 rg BT 523.33 584.10 Td (report ) Tj ET Q q 0 0 0 rg BT 550.31 584.10 Td (are ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (expressed ) Tj ET Q q 0 0 0 rg BT 91.43 572.10 Td (in ) Tj ET Q q 0 0 0 rg BT 101.71 572.10 Td (millions ) Tj ET Q q 0 0 0 rg BT 136.99 572.10 Td (of ) Tj ET Q q 0 0 0 rg BT 147.82 572.10 Td (cubic ) Tj ET Q q 0 0 0 rg BT 171.98 572.10 Td (feet ) Tj ET Q q 0 0 0 rg BT 189.46 572.10 Td (\(MMcf\).) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 548.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 103.84 548.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 145.51 548.10 Td (are ) Tj ET Q q 0 0 0 rg BT 160.50 548.10 Td (identified ) Tj ET Q q 0 0 0 rg BT 201.61 548.10 Td (by ) Tj ET Q q 0 0 0 rg BT 214.40 548.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.41 548.10 Td (type ) Tj ET Q q 0 0 0 rg BT 249.41 548.10 Td (of ) Tj ET Q q 0 0 0 rg BT 260.53 548.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 298.85 548.10 Td (from ) Tj ET Q q 0 0 0 rg BT 321.08 548.10 Td (which ) Tj ET Q q 0 0 0 rg BT 348.31 548.10 Td (the ) Tj ET Q q 0 0 0 rg BT 363.31 548.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 379.43 548.10 Td (will ) Tj ET Q q 0 0 0 rg BT 397.78 548.10 Td (be ) Tj ET Q q 0 0 0 rg BT 410.00 548.10 Td (produced. ) Tj ET Q q 0 0 0 rg BT 452.50 548.10 Td (Nonassociated ) Tj ET Q q 0 0 0 rg BT 513.60 548.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 529.72 548.10 Td (is ) Tj ET Q q 0 0 0 rg BT 539.18 548.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 555.29 548.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 75.54 536.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 113.79 536.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 158.17 536.10 Td (with ) Tj ET Q q 0 0 0 rg BT 178.67 536.10 Td (no ) Tj ET Q q 0 0 0 rg BT 191.38 536.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 204.65 536.10 Td (present ) Tj ET Q q 0 0 0 rg BT 236.24 536.10 Td (in ) Tj ET Q q 0 0 0 rg BT 246.73 536.10 Td (the ) Tj ET Q q 0 0 0 rg BT 261.66 536.10 Td (reservoir) Tj ET Q q 0 0 0 rg BT 296.65 536.10 Td (. ) Tj ET Q q 0 0 0 rg BT 301.26 536.10 Td (Associated ) Tj ET Q q 0 0 0 rg BT 347.85 536.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 363.90 536.10 Td (is ) Tj ET Q q 0 0 0 rg BT 373.28 536.10 Td (both ) Tj ET Q q 0 0 0 rg BT 393.77 536.10 Td (gas-cap ) Tj ET Q q 0 0 0 rg BT 427.03 536.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 443.07 536.10 Td (and ) Tj ET Q q 0 0 0 rg BT 460.22 536.10 Td (solution ) Tj ET Q q 0 0 0 rg BT 495.16 536.10 Td (gas. ) Tj ET Q q 0 0 0 rg BT 513.71 536.10 Td (Gas-cap ) Tj ET Q q 0 0 0 rg BT 549.18 536.10 Td (gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (is ) Tj ET Q q 0 0 0 rg BT 58.95 524.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 75.06 524.10 Td (at ) Tj ET Q q 0 0 0 rg BT 85.05 524.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 111.16 524.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 149.48 524.10 Td (conditions ) Tj ET Q q 0 0 0 rg BT 193.92 524.10 Td (and ) Tj ET Q q 0 0 0 rg BT 211.14 524.10 Td (is ) Tj ET Q q 0 0 0 rg BT 220.58 524.10 Td (in ) Tj ET Q q 0 0 0 rg BT 231.14 524.10 Td (communication ) Tj ET Q q 0 0 0 rg BT 296.13 524.10 Td (with ) Tj ET Q q 0 0 0 rg BT 316.68 524.10 Td (an ) Tj ET Q q 0 0 0 rg BT 328.90 524.10 Td (underlying ) Tj ET Q q 0 0 0 rg BT 375.00 524.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 388.34 524.10 Td (zone. ) Tj ET Q q 0 0 0 rg BT 412.49 524.10 Td (Solution ) Tj ET Q q 0 0 0 rg BT 449.17 524.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 465.28 524.10 Td (is ) Tj ET Q q 0 0 0 rg BT 474.72 524.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 490.83 524.10 Td (dissolved ) Tj ET Q q 0 0 0 rg BT 531.39 524.10 Td (in ) Tj ET Q q 0 0 0 rg BT 541.95 524.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 555.28 524.10 Td (at ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 75.33 512.10 Td (reservoir ) Tj ET Q q 0 0 0 rg BT 113.37 512.10 Td (conditions. ) Tj ET Q q 0 0 0 rg BT 160.03 512.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 178.08 512.10 Td (quantities ) Tj ET Q q 0 0 0 rg BT 219.47 512.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 260.29 512.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 287.77 512.10 Td (include ) Tj ET Q q 0 0 0 rg BT 319.71 512.10 Td (both ) Tj ET Q q 0 0 0 rg BT 339.98 512.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 383.58 512.10 Td (and ) Tj ET Q q 0 0 0 rg BT 400.52 512.10 Td (nonassociated ) Tj ET Q q 0 0 0 rg BT 459.11 512.10 Td (gas.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 488.10 Td (Certain ) Tj ET Q q 0 0 0 rg BT 118.37 488.10 Td (of ) Tj ET Q q 0 0 0 rg BT 130.14 488.10 Td (the ) Tj ET Q q 0 0 0 rg BT 145.80 488.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 189.22 488.10 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 230.97 488.10 Td (are ) Tj ET Q q 0 0 0 rg BT 246.62 488.10 Td (subject ) Tj ET Q q 0 0 0 rg BT 278.38 488.10 Td (to ) Tj ET Q q 0 0 0 rg BT 289.60 488.10 Td (NPI ) Tj ET Q q 0 0 0 rg BT 309.15 488.10 Td (payable ) Tj ET Q q 0 0 0 rg BT 343.68 488.10 Td (to ) Tj ET Q q 0 0 0 rg BT 354.90 488.10 Td (other ) Tj ET Q q 0 0 0 rg BT 378.89 488.10 Td (parties. ) Tj ET Q q 0 0 0 rg BT 411.48 488.10 Td (Net ) Tj ET Q q 0 0 0 rg BT 429.36 488.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 465.56 488.10 Td (are ) Tj ET Q q 0 0 0 rg BT 481.20 488.10 Td (those ) Tj ET Q q 0 0 0 rg BT 505.75 488.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 554.73 488.10 Td (to ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 476.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 86.99 476.10 Td (after ) Tj ET Q q 0 0 0 rg BT 107.81 476.10 Td (accounting ) Tj ET Q q 0 0 0 rg BT 154.18 476.10 Td (for ) Tj ET Q q 0 0 0 rg BT 168.34 476.10 Td (the ) Tj ET Q q 0 0 0 rg BT 183.05 476.10 Td (portion ) Tj ET Q q 0 0 0 rg BT 214.44 476.10 Td (of ) Tj ET Q q 0 0 0 rg BT 225.27 476.10 Td (the ) Tj ET Q q 0 0 0 rg BT 239.99 476.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 263.60 476.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 298.86 476.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 346.90 476.10 Td (to ) Tj ET Q q 0 0 0 rg BT 357.18 476.10 Td (the ) Tj ET Q q 0 0 0 rg BT 371.89 476.10 Td (NPI ) Tj ET Q q 0 0 0 rg BT 390.51 476.10 Td (owners. ) Tj ET Q q 0 0 0 rg BT 424.39 476.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 452.10 Td (At ) Tj ET Q q 0 0 0 rg BT 97.35 452.10 Td (the ) Tj ET Q q 0 0 0 rg BT 111.42 452.10 Td (request ) Tj ET Q q 0 0 0 rg BT 142.14 452.10 Td (of ) Tj ET Q q 0 0 0 rg BT 152.32 452.10 Td (Denbury) Tj ET Q q 0 0 0 rg BT 186.66 452.10 Td (, ) Tj ET Q q 0 0 0 rg BT 191.01 452.10 Td (sales ) Tj ET Q q 0 0 0 rg BT 212.30 452.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 227.48 452.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 262.09 452.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 302.26 452.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 329.09 452.10 Td (were ) Tj ET Q q 0 0 0 rg BT 350.37 452.10 Td (converted ) Tj ET Q q 0 0 0 rg BT 391.65 452.10 Td (to ) Tj ET Q q 0 0 0 rg BT 401.27 452.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 413.68 452.10 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 457.18 452.10 Td (using ) Tj ET Q q 0 0 0 rg BT 480.70 452.10 Td (an ) Tj ET Q q 0 0 0 rg BT 491.99 452.10 Td (ener) Tj ET Q q 0 0 0 rg BT 509.01 452.10 Td (gy ) Tj ET Q q 0 0 0 rg BT 520.86 452.10 Td (equivalent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 440.10 Td (factor ) Tj ET Q q 0 0 0 rg BT 75.32 440.10 Td (of ) Tj ET Q q 0 0 0 rg BT 86.15 440.10 Td (6,000 ) Tj ET Q q 0 0 0 rg BT 111.15 440.10 Td (cubic ) Tj ET Q q 0 0 0 rg BT 135.30 440.10 Td (feet ) Tj ET Q q 0 0 0 rg BT 152.79 440.10 Td (of ) Tj ET Q q 0 0 0 rg BT 163.62 440.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 179.45 440.10 Td (per ) Tj ET Q q 0 0 0 rg BT 194.71 440.10 Td (1 ) Tj ET Q q 0 0 0 rg BT 202.21 440.10 Td (barrel ) Tj ET Q q 0 0 0 rg BT 228.03 440.10 Td (of ) Tj ET Q q 0 0 0 rg BT 238.86 440.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 251.92 440.10 Td (equivalent. ) Tj ET Q q 0 0 0 rg BT 298.39 440.10 Td (This ) Tj ET Q q 0 0 0 rg BT 318.67 440.10 Td (conversion ) Tj ET Q q 0 0 0 rg BT 365.04 440.10 Td (factor ) Tj ET Q q 0 0 0 rg BT 390.86 440.10 Td (was ) Tj ET Q q 0 0 0 rg BT 408.91 440.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 446.96 440.10 Td (by ) Tj ET Q q 0 0 0 rg BT 459.46 440.10 Td (Denbury) Tj ET Q q 0 0 0 rg BT 493.80 440.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 414.53505859375 m 187.2783203125 414.53505859375 l s q 0 0 0 rg BT 49.50 416.10 Td (Primary ) Tj ET Q q 0 0 0 rg BT 88.09 416.10 Td (Economic ) Tj ET Q q 0 0 0 rg BT 132.26 416.10 Td (Assumptions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 392.10 Td (Revenue ) Tj ET Q q 0 0 0 rg BT 122.59 392.10 Td (values ) Tj ET Q q 0 0 0 rg BT 150.25 392.10 Td (in ) Tj ET Q q 0 0 0 rg BT 160.14 392.10 Td (this ) Tj ET Q q 0 0 0 rg BT 176.69 392.10 Td (report ) Tj ET Q q 0 0 0 rg BT 202.68 392.10 Td (were ) Tj ET Q q 0 0 0 rg BT 224.21 392.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 264.64 392.10 Td (using ) Tj ET Q q 0 0 0 rg BT 288.42 392.10 Td (initial ) Tj ET Q q 0 0 0 rg BT 313.86 392.10 Td (prices, ) Tj ET Q q 0 0 0 rg BT 342.35 392.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 383.05 392.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.60 392.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 421.71 392.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 459.36 392.10 Td (by ) Tj ET Q q 0 0 0 rg BT 471.47 392.10 Td (Denbury) Tj ET Q q 0 0 0 rg BT 505.81 392.10 Td (. ) Tj ET Q q 0 0 0 rg BT 510.42 392.10 Td (Future ) Tj ET Q q 0 0 0 rg BT 538.64 392.10 Td (prices ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 380.10 Td (were ) Tj ET Q q 0 0 0 rg BT 71.81 380.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 113.01 380.10 Td (using ) Tj ET Q q 0 0 0 rg BT 137.56 380.10 Td (guidelines ) Tj ET Q q 0 0 0 rg BT 181.54 380.10 Td (established ) Tj ET Q q 0 0 0 rg BT 228.86 380.10 Td (by ) Tj ET Q q 0 0 0 rg BT 241.74 380.10 Td (the ) Tj ET Q q 0 0 0 rg BT 256.83 380.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 278.05 380.10 Td (and ) Tj ET Q q 0 0 0 rg BT 295.37 380.10 Td (the ) Tj ET Q q 0 0 0 rg BT 310.47 380.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 349.92 380.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 399.46 380.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 441.78 380.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 469.09 380.10 Td (\(F) Tj ET Q q 0 0 0 rg BT 477.24 380.10 Td (ASB\). ) Tj ET Q q 0 0 0 rg BT 505.20 380.10 Td (The ) Tj ET Q q 0 0 0 rg BT 523.63 380.10 Td (following ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 368.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 90.87 368.10 Td (assumptions ) Tj ET Q q 0 0 0 rg BT 142.82 368.10 Td (were ) Tj ET Q q 0 0 0 rg BT 164.75 368.10 Td (used ) Tj ET Q q 0 0 0 rg BT 185.58 368.10 Td (for ) Tj ET Q q 0 0 0 rg BT 199.74 368.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 243.90 368.10 Td (the ) Tj ET Q q 0 0 0 rg BT 258.62 368.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 292.76 368.10 Td (values ) Tj ET Q q 0 0 0 rg BT 320.81 368.10 Td (reported ) Tj ET Q q 0 0 0 rg BT 356.62 368.10 Td (herein:) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 344.10 Td (Oil, ) Tj ET Q q 0 0 0 rg BT 103.28 344.10 Td (Condensate, ) Tj ET Q q 0 0 0 rg BT 155.50 344.10 Td (and ) Tj ET Q q 0 0 0 rg BT 173.00 344.10 Td (NGL) Tj ET Q q 0 0 0 rg BT 192.27 344.10 Td ( ) Tj ET Q q 0 0 0 rg BT 194.77 344.10 Td (Prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 320.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 140.80 320.10 Td (has ) Tj ET Q q 0 0 0 rg BT 156.43 320.10 Td (represented ) Tj ET Q q 0 0 0 rg BT 204.83 320.10 Td (that ) Tj ET Q q 0 0 0 rg BT 222.13 320.10 Td (the ) Tj ET Q q 0 0 0 rg BT 236.65 320.10 Td (oil, ) Tj ET Q q 0 0 0 rg BT 252.02 320.10 Td (condensate, ) Tj ET Q q 0 0 0 rg BT 301.25 320.10 Td (and ) Tj ET Q q 0 0 0 rg BT 317.99 320.10 Td (NGL) Tj ET Q q 0 0 0 rg BT 338.17 320.10 Td ( ) Tj ET Q q 0 0 0 rg BT 340.48 320.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 366.66 320.10 Td (were ) Tj ET Q q 0 0 0 rg BT 388.40 320.10 Td (based ) Tj ET Q q 0 0 0 rg BT 413.48 320.10 Td (on ) Tj ET Q q 0 0 0 rg BT 425.78 320.10 Td (a ) Tj ET Q q 0 0 0 rg BT 432.53 320.10 Td (reference ) Tj ET Q q 0 0 0 rg BT 472.02 320.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 496.81 320.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 539.65 320.10 Td (as ) Tj ET Q q 0 0 0 rg BT 550.28 320.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 308.10 Td (unweighted ) Tj ET Q q 0 0 0 rg BT 152.52 308.10 Td (arithmetic ) Tj ET Q q 0 0 0 rg BT 195.41 308.10 Td (average ) Tj ET Q q 0 0 0 rg BT 228.86 308.10 Td (of ) Tj ET Q q 0 0 0 rg BT 239.55 308.10 Td (the ) Tj ET Q q 0 0 0 rg BT 254.13 308.10 Td (first�-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 346.46 308.10 Td (price ) Tj ET Q q 0 0 0 rg BT 368.81 308.10 Td (for ) Tj ET Q q 0 0 0 rg BT 382.83 308.10 Td (each ) Tj ET Q q 0 0 0 rg BT 403.50 308.10 Td (month ) Tj ET Q q 0 0 0 rg BT 431.42 308.10 Td (within ) Tj ET Q q 0 0 0 rg BT 459.34 308.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.92 308.10 Td (12-month ) Tj ET Q q 0 0 0 rg BT 515.16 308.10 Td (period ) Tj ET Q q 0 0 0 rg BT 543.07 308.10 Td (prior ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 296.10 Td (to ) Tj ET Q q 0 0 0 rg BT 113.08 296.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.09 296.10 Td (end ) Tj ET Q q 0 0 0 rg BT 143.33 296.10 Td (of ) Tj ET Q q 0 0 0 rg BT 153.46 296.10 Td (the ) Tj ET Q q 0 0 0 rg BT 167.48 296.10 Td (reporting ) Tj ET Q q 0 0 0 rg BT 205.93 296.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 235.78 296.10 Td (unless ) Tj ET Q q 0 0 0 rg BT 262.58 296.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 288.25 296.10 Td (are ) Tj ET Q q 0 0 0 rg BT 302.26 296.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 334.04 296.10 Td (by ) Tj ET Q q 0 0 0 rg BT 345.84 296.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 392.06 296.10 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 441.89 296.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 478.68 296.10 Td (supplied ) Tj ET Q q 0 0 0 rg BT 514.37 296.10 Td (dif) Tj ET Q q 0 0 0 rg BT 525.30 296.10 Td (ferentials ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 284.10 Td (to ) Tj ET Q q 0 0 0 rg BT 113.03 284.10 Td (the ) Tj ET Q q 0 0 0 rg BT 127.00 284.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 165.42 284.10 Td (reference ) Tj ET Q q 0 0 0 rg BT 204.35 284.10 Td (price ) Tj ET Q q 0 0 0 rg BT 226.09 284.10 Td (of ) Tj ET Q q 0 0 0 rg BT 236.18 284.10 Td ($65.56 ) Tj ET Q q 0 0 0 rg BT 265.43 284.10 Td (per ) Tj ET Q q 0 0 0 rg BT 279.95 284.10 Td (barrel ) Tj ET Q q 0 0 0 rg BT 305.02 284.10 Td (and ) Tj ET Q q 0 0 0 rg BT 321.21 284.10 Td (the ) Tj ET Q q 0 0 0 rg BT 335.18 284.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 360.81 284.10 Td (were ) Tj ET Q q 0 0 0 rg BT 381.99 284.10 Td (held ) Tj ET Q q 0 0 0 rg BT 400.96 284.10 Td (constant ) Tj ET Q q 0 0 0 rg BT 436.04 284.10 Td (thereafter) Tj ET Q q 0 0 0 rg BT 473.79 284.10 Td (. ) Tj ET Q q 0 0 0 rg BT 477.91 284.10 Td (The ) Tj ET Q q 0 0 0 rg BT 495.21 284.10 Td (pre-NPI ) Tj ET Q q 0 0 0 rg BT 529.18 284.10 Td (volume-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 272.10 Td (weighted ) Tj ET Q q 0 0 0 rg BT 143.07 272.10 Td (average ) Tj ET Q q 0 0 0 rg BT 177.07 272.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 203.87 272.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 252.32 272.10 Td (to ) Tj ET Q q 0 0 0 rg BT 263.02 272.10 Td (the ) Tj ET Q q 0 0 0 rg BT 278.15 272.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 319.39 272.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 350.08 272.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 385.75 272.10 Td (over ) Tj ET Q q 0 0 0 rg BT 406.44 272.10 Td (the ) Tj ET Q q 0 0 0 rg BT 421.57 272.10 Td (lives ) Tj ET Q q 0 0 0 rg BT 443.38 272.10 Td (of ) Tj ET Q q 0 0 0 rg BT 454.63 272.10 Td (the ) Tj ET Q q 0 0 0 rg BT 469.76 272.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 512.66 272.10 Td (were ) Tj ET Q q 0 0 0 rg BT 535.01 272.10 Td ($65.32 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 260.10 Td (per ) Tj ET Q q 0 0 0 rg BT 118.77 260.10 Td (barrel ) Tj ET Q q 0 0 0 rg BT 144.58 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 155.41 260.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 168.47 260.10 Td (and ) Tj ET Q q 0 0 0 rg BT 185.41 260.10 Td (condensate ) Tj ET Q q 0 0 0 rg BT 232.33 260.10 Td (and ) Tj ET Q q 0 0 0 rg BT 249.27 260.10 Td ($28.92 ) Tj ET Q q 0 0 0 rg BT 279.27 260.10 Td (per ) Tj ET Q q 0 0 0 rg BT 294.54 260.10 Td (barrel ) Tj ET Q q 0 0 0 rg BT 320.36 260.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.19 260.10 Td (NGL.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 236.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 104.11 236.10 Td (Prices) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 212.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 140.58 212.10 Td (has ) Tj ET Q q 0 0 0 rg BT 156.01 212.10 Td (represented ) Tj ET Q q 0 0 0 rg BT 204.19 212.10 Td (that ) Tj ET Q q 0 0 0 rg BT 221.28 212.10 Td (the ) Tj ET Q q 0 0 0 rg BT 235.59 212.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 251.01 212.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 276.99 212.10 Td (were ) Tj ET Q q 0 0 0 rg BT 298.51 212.10 Td (based ) Tj ET Q q 0 0 0 rg BT 323.37 212.10 Td (on ) Tj ET Q q 0 0 0 rg BT 335.47 212.10 Td (a ) Tj ET Q q 0 0 0 rg BT 342.00 212.10 Td (reference ) Tj ET Q q 0 0 0 rg BT 381.28 212.10 Td (price, ) Tj ET Q q 0 0 0 rg BT 405.86 212.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 448.48 212.10 Td (as ) Tj ET Q q 0 0 0 rg BT 458.91 212.10 Td (the ) Tj ET Q q 0 0 0 rg BT 473.22 212.10 Td (unweighted ) Tj ET Q q 0 0 0 rg BT 521.97 212.10 Td (arithmetic ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 200.10 Td (average ) Tj ET Q q 0 0 0 rg BT 136.17 200.10 Td (of ) Tj ET Q q 0 0 0 rg BT 146.09 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 159.90 200.10 Td (first-day-of-the-month ) Tj ET Q q 0 0 0 rg BT 251.46 200.10 Td (price ) Tj ET Q q 0 0 0 rg BT 273.03 200.10 Td (for ) Tj ET Q q 0 0 0 rg BT 286.28 200.10 Td (each ) Tj ET Q q 0 0 0 rg BT 306.19 200.10 Td (month ) Tj ET Q q 0 0 0 rg BT 333.33 200.10 Td (within ) Tj ET Q q 0 0 0 rg BT 360.48 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 374.29 200.10 Td (12-month ) Tj ET Q q 0 0 0 rg BT 414.76 200.10 Td (period ) Tj ET Q q 0 0 0 rg BT 441.90 200.10 Td (prior ) Tj ET Q q 0 0 0 rg BT 462.93 200.10 Td (to ) Tj ET Q q 0 0 0 rg BT 472.29 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 486.10 200.10 Td (end ) Tj ET Q q 0 0 0 rg BT 502.13 200.10 Td (of ) Tj ET Q q 0 0 0 rg BT 512.05 200.10 Td (the ) Tj ET Q q 0 0 0 rg BT 525.85 200.10 Td (reporting ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 188.10 Td (period, ) Tj ET Q q 0 0 0 rg BT 135.15 188.10 Td (unless ) Tj ET Q q 0 0 0 rg BT 163.75 188.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 191.23 188.10 Td (are ) Tj ET Q q 0 0 0 rg BT 207.04 188.10 Td (defined ) Tj ET Q q 0 0 0 rg BT 240.63 188.10 Td (by ) Tj ET Q q 0 0 0 rg BT 254.23 188.10 Td (contractual ) Tj ET Q q 0 0 0 rg BT 302.25 188.10 Td (agreements. ) Tj ET Q q 0 0 0 rg BT 353.89 188.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 392.48 188.10 Td (supplied ) Tj ET Q q 0 0 0 rg BT 429.97 188.10 Td (dif) Tj ET Q q 0 0 0 rg BT 440.90 188.10 Td (ferentials ) Tj ET Q q 0 0 0 rg BT 481.70 188.10 Td (to ) Tj ET Q q 0 0 0 rg BT 493.08 188.10 Td (the ) Tj ET Q q 0 0 0 rg BT 508.90 188.10 Td (NYMEX ) Tj ET Q q 0 0 0 rg BT 549.17 188.10 Td (gas ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 176.10 Td (reference ) Tj ET Q q 0 0 0 rg BT 142.85 176.10 Td (price ) Tj ET Q q 0 0 0 rg BT 165.00 176.10 Td (of ) Tj ET Q q 0 0 0 rg BT 175.49 176.10 Td ($3.10 ) Tj ET Q q 0 0 0 rg BT 200.16 176.10 Td (per ) Tj ET Q q 0 0 0 rg BT 215.09 176.10 Td (million ) Tj ET Q q 0 0 0 rg BT 246.15 176.10 Td (Btu ) Tj ET Q q 0 0 0 rg BT 262.77 176.10 Td (\(MMBtu\). ) Tj ET Q q 0 0 0 rg BT 306.17 176.10 Td (The ) Tj ET Q q 0 0 0 rg BT 323.88 176.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 349.92 176.10 Td (were ) Tj ET Q q 0 0 0 rg BT 371.52 176.10 Td (held ) Tj ET Q q 0 0 0 rg BT 390.90 176.10 Td (constant ) Tj ET Q q 0 0 0 rg BT 426.39 176.10 Td (thereafter) Tj ET Q q 0 0 0 rg BT 464.14 176.10 Td (. ) Tj ET Q q 0 0 0 rg BT 468.80 176.10 Td (Btu ) Tj ET Q q 0 0 0 rg BT 485.42 176.10 Td (factors ) Tj ET Q q 0 0 0 rg BT 514.79 176.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 552.50 176.10 Td (by ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 164.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 141.12 164.10 Td (were ) Tj ET Q q 0 0 0 rg BT 163.19 164.10 Td (used ) Tj ET Q q 0 0 0 rg BT 184.15 164.10 Td (to ) Tj ET Q q 0 0 0 rg BT 194.56 164.10 Td (convert ) Tj ET Q q 0 0 0 rg BT 227.18 164.10 Td (prices ) Tj ET Q q 0 0 0 rg BT 253.69 164.10 Td (from ) Tj ET Q q 0 0 0 rg BT 275.76 164.10 Td (dollars ) Tj ET Q q 0 0 0 rg BT 305.61 164.10 Td (per ) Tj ET Q q 0 0 0 rg BT 321.01 164.10 Td (MMBtu ) Tj ET Q q 0 0 0 rg BT 355.88 164.10 Td (to ) Tj ET Q q 0 0 0 rg BT 366.29 164.10 Td (dollars ) Tj ET Q q 0 0 0 rg BT 396.14 164.10 Td (per ) Tj ET Q q 0 0 0 rg BT 411.54 164.10 Td (thousand ) Tj ET Q q 0 0 0 rg BT 450.28 164.10 Td (cubic ) Tj ET Q q 0 0 0 rg BT 474.57 164.10 Td (feet ) Tj ET Q q 0 0 0 rg BT 492.19 164.10 Td (\($/Mcf\). ) Tj ET Q q 0 0 0 rg BT 528.23 164.10 Td (The ) Tj ET Q q 0 0 0 rg BT 546.41 164.10 Td (pre-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 152.10 Td (NPI ) Tj ET Q q 0 0 0 rg BT 121.64 152.10 Td (volume-weighted ) Tj ET Q q 0 0 0 rg BT 193.66 152.10 Td (average ) Tj ET Q q 0 0 0 rg BT 226.77 152.10 Td (price ) Tj ET Q q 0 0 0 rg BT 248.79 152.10 Td (attributable ) Tj ET Q q 0 0 0 rg BT 296.36 152.10 Td (to ) Tj ET Q q 0 0 0 rg BT 306.17 152.10 Td (the ) Tj ET Q q 0 0 0 rg BT 320.41 152.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 360.77 152.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 390.57 152.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 425.36 152.10 Td (over ) Tj ET Q q 0 0 0 rg BT 445.16 152.10 Td (the ) Tj ET Q q 0 0 0 rg BT 459.40 152.10 Td (lives ) Tj ET Q q 0 0 0 rg BT 480.32 152.10 Td (of ) Tj ET Q q 0 0 0 rg BT 490.68 152.10 Td (the ) Tj ET Q q 0 0 0 rg BT 504.93 152.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 546.95 152.10 Td (was ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 140.10 Td ($2.503 ) Tj ET Q q 0 0 0 rg BT 133.50 140.10 Td (per ) Tj ET Q q 0 0 0 rg BT 148.77 140.10 Td (thousand ) Tj ET Q q 0 0 0 rg BT 187.38 140.10 Td (cubic ) Tj ET Q q 0 0 0 rg BT 211.53 140.10 Td (feet ) Tj ET Q q 0 0 0 rg BT 229.02 140.10 Td (of ) Tj ET Q q 0 0 0 rg BT 239.85 140.10 Td (gas.) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 116.10 Td (Pr) Tj ET Q q 0 0 0 rg BT 95.13 116.10 Td (oduction ) Tj ET Q q 0 0 0 rg BT 132.62 116.10 Td (and ) Tj ET Q q 0 0 0 rg BT 149.94 116.10 Td (Ad ) Tj ET Q q 0 0 0 rg BT 163.55 116.10 Td (V) Tj ET Q q 0 0 0 rg BT 168.55 116.10 Td (alor) Tj ET Q q 0 0 0 rg BT 184.85 116.10 Td (em ) Tj ET Q q 0 0 0 rg BT 199.01 116.10 Td (T) Tj ET Q q 0 0 0 rg BT 203.65 116.10 Td (axes) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 92.10 Td (Production ) Tj ET Q q 0 0 0 rg BT 150.64 92.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 174.44 92.10 Td (were ) Tj ET Q q 0 0 0 rg BT 197.13 92.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 240.91 92.10 Td (using ) Tj ET Q q 0 0 0 rg BT 265.83 92.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 287.96 92.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 326.76 92.10 Td (by ) Tj ET Q q 0 0 0 rg BT 340.02 92.10 Td (Denbury) Tj ET Q q 0 0 0 rg BT 374.36 92.10 Td (, ) Tj ET Q q 0 0 0 rg BT 380.11 92.10 Td (including, ) Tj ET Q q 0 0 0 rg BT 423.64 92.10 Td (where ) Tj ET Q q 0 0 0 rg BT 451.32 92.10 Td (appropriate, ) Tj ET Q q 0 0 0 rg BT 502.61 92.10 Td (abatements ) Tj ET Q q 0 0 0 rg BT 550.85 92.10 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 80.10 Td (enhanced ) Tj ET Q q 0 0 0 rg BT 144.11 80.10 Td (recovery ) Tj ET Q q 0 0 0 rg BT 181.95 80.10 Td (programs. ) Tj ET Q q 0 0 0 rg BT 224.44 80.10 Td (Ad ) Tj ET Q q 0 0 0 rg BT 239.52 80.10 Td (valorem ) Tj ET Q q 0 0 0 rg BT 275.14 80.10 Td (taxes ) Tj ET Q q 0 0 0 rg BT 298.55 80.10 Td (were ) Tj ET Q q 0 0 0 rg BT 320.83 80.10 Td (calculated ) Tj ET Q q 0 0 0 rg BT 364.22 80.10 Td (using ) Tj ET Q q 0 0 0 rg BT 388.75 80.10 Td (rates ) Tj ET Q q 0 0 0 rg BT 410.48 80.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 448.89 80.10 Td (by ) Tj ET Q q 0 0 0 rg BT 461.74 80.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 499.59 80.10 Td (based ) Tj ET Q q 0 0 0 rg BT 525.22 80.10 Td (on ) Tj ET Q q 0 0 0 rg BT 538.08 80.10 Td (recent ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 68.10 Td (payments.) Tj ET Q endstream endobj 249 0 obj <> endobj 250 0 obj <> stream BT /F4 10.00 Tf ET q 0 0 0 rg BT 85.50 740.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 129.11 740.10 Td (Expenses, ) Tj ET Q q 0 0 0 rg BT 171.32 740.10 Td (Capital ) Tj ET Q q 0 0 0 rg BT 203.82 740.10 Td (Costs, ) Tj ET Q q 0 0 0 rg BT 231.05 740.10 Td (and ) Tj ET Q q 0 0 0 rg BT 248.37 740.10 Td (Abandonment ) Tj ET Q q 0 0 0 rg BT 306.42 740.10 Td (Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 716.10 Td (Estimates ) Tj ET Q q 0 0 0 rg BT 145.32 716.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.58 716.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 197.28 716.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 238.81 716.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 277.29 716.10 Td (by ) Tj ET Q q 0 0 0 rg BT 290.22 716.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 328.15 716.10 Td (and ) Tj ET Q q 0 0 0 rg BT 345.52 716.10 Td (based ) Tj ET Q q 0 0 0 rg BT 371.22 716.10 Td (on ) Tj ET Q q 0 0 0 rg BT 384.15 716.10 Td (current ) Tj ET Q q 0 0 0 rg BT 415.40 716.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 456.94 716.10 Td (were ) Tj ET Q q 0 0 0 rg BT 479.30 716.10 Td (held ) Tj ET Q q 0 0 0 rg BT 499.45 716.10 Td (constant ) Tj ET Q q 0 0 0 rg BT 535.71 716.10 Td (for ) Tj ET Q q 0 0 0 rg BT 550.30 716.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 704.10 Td (lives ) Tj ET Q q 0 0 0 rg BT 124.23 704.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.41 704.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.47 704.10 Td (properties. ) Tj ET Q q 0 0 0 rg BT 192.80 704.10 Td (Future ) Tj ET Q q 0 0 0 rg BT 220.75 704.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 249.25 704.10 Td (expenditures ) Tj ET Q q 0 0 0 rg BT 302.18 704.10 Td (were ) Tj ET Q q 0 0 0 rg BT 323.46 704.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 363.62 704.10 Td (using ) Tj ET Q q 0 0 0 rg BT 387.14 704.10 Td (2018 ) Tj ET Q q 0 0 0 rg BT 408.98 704.10 Td (values, ) Tj ET Q q 0 0 0 rg BT 438.87 704.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 476.27 704.10 Td (by ) Tj ET Q q 0 0 0 rg BT 488.11 704.10 Td (Denbury) Tj ET Q q 0 0 0 rg BT 522.45 704.10 Td (, ) Tj ET Q q 0 0 0 rg BT 526.80 704.10 Td (and ) Tj ET Q q 0 0 0 rg BT 543.08 704.10 Td (were ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 692.10 Td (not ) Tj ET Q q 0 0 0 rg BT 118.31 692.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 153.67 692.10 Td (for ) Tj ET Q q 0 0 0 rg BT 167.36 692.10 Td (inflation. ) Tj ET Q q 0 0 0 rg BT 205.77 692.10 Td (In ) Tj ET Q q 0 0 0 rg BT 216.13 692.10 Td (certain ) Tj ET Q q 0 0 0 rg BT 245.37 692.10 Td (cases, ) Tj ET Q q 0 0 0 rg BT 271.00 692.10 Td (future ) Tj ET Q q 0 0 0 rg BT 296.90 692.10 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 352.53 692.10 Td (either ) Tj ET Q q 0 0 0 rg BT 377.32 692.10 Td (higher ) Tj ET Q q 0 0 0 rg BT 404.90 692.10 Td (or ) Tj ET Q q 0 0 0 rg BT 415.26 692.10 Td (lower ) Tj ET Q q 0 0 0 rg BT 440.06 692.10 Td (than ) Tj ET Q q 0 0 0 rg BT 459.31 692.10 Td (current ) Tj ET Q q 0 0 0 rg BT 489.66 692.10 Td (expenditures, ) Tj ET Q q 0 0 0 rg BT 545.28 692.10 Td (may ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 680.10 Td (have ) Tj ET Q q 0 0 0 rg BT 125.15 680.10 Td (been ) Tj ET Q q 0 0 0 rg BT 146.81 680.10 Td (used ) Tj ET Q q 0 0 0 rg BT 167.92 680.10 Td (because ) Tj ET Q q 0 0 0 rg BT 202.34 680.10 Td (of ) Tj ET Q q 0 0 0 rg BT 213.45 680.10 Td (anticipated ) Tj ET Q q 0 0 0 rg BT 260.09 680.10 Td (changes ) Tj ET Q q 0 0 0 rg BT 295.08 680.10 Td (in ) Tj ET Q q 0 0 0 rg BT 305.63 680.10 Td (operating ) Tj ET Q q 0 0 0 rg BT 346.17 680.10 Td (conditions, ) Tj ET Q q 0 0 0 rg BT 393.11 680.10 Td (but ) Tj ET Q q 0 0 0 rg BT 408.67 680.10 Td (no ) Tj ET Q q 0 0 0 rg BT 421.45 680.10 Td (general ) Tj ET Q q 0 0 0 rg BT 453.65 680.10 Td (escalation ) Tj ET Q q 0 0 0 rg BT 496.41 680.10 Td (that ) Tj ET Q q 0 0 0 rg BT 514.18 680.10 Td (might ) Tj ET Q q 0 0 0 rg BT 540.29 680.10 Td (result ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 668.10 Td (from ) Tj ET Q q 0 0 0 rg BT 125.94 668.10 Td (inflation ) Tj ET Q q 0 0 0 rg BT 162.83 668.10 Td (was ) Tj ET Q q 0 0 0 rg BT 181.39 668.10 Td (applied. ) Tj ET Q q 0 0 0 rg BT 215.66 668.10 Td (Abandonment ) Tj ET Q q 0 0 0 rg BT 275.32 668.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 300.82 668.10 Td (which ) Tj ET Q q 0 0 0 rg BT 328.27 668.10 Td (are ) Tj ET Q q 0 0 0 rg BT 343.48 668.10 Td (those ) Tj ET Q q 0 0 0 rg BT 367.59 668.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 390.60 668.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 434.69 668.10 Td (with ) Tj ET Q q 0 0 0 rg BT 455.48 668.10 Td (the ) Tj ET Q q 0 0 0 rg BT 470.70 668.10 Td (removal ) Tj ET Q q 0 0 0 rg BT 506.47 668.10 Td (of ) Tj ET Q q 0 0 0 rg BT 517.80 668.10 Td (equipment, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 656.10 Td (plugging ) Tj ET Q q 0 0 0 rg BT 141.11 656.10 Td (of ) Tj ET Q q 0 0 0 rg BT 151.49 656.10 Td (wells, ) Tj ET Q q 0 0 0 rg BT 177.15 656.10 Td (and ) Tj ET Q q 0 0 0 rg BT 193.65 656.10 Td (reclamation ) Tj ET Q q 0 0 0 rg BT 242.90 656.10 Td (and ) Tj ET Q q 0 0 0 rg BT 259.39 656.10 Td (restoration ) Tj ET Q q 0 0 0 rg BT 304.21 656.10 Td (associated ) Tj ET Q q 0 0 0 rg BT 347.35 656.10 Td (with ) Tj ET Q q 0 0 0 rg BT 367.18 656.10 Td (the ) Tj ET Q q 0 0 0 rg BT 381.45 656.10 Td (abandonment, ) Tj ET Q q 0 0 0 rg BT 439.88 656.10 Td (were ) Tj ET Q q 0 0 0 rg BT 461.36 656.10 Td (provided ) Tj ET Q q 0 0 0 rg BT 498.96 656.10 Td (by ) Tj ET Q q 0 0 0 rg BT 511.01 656.10 Td (Denbury ) Tj ET Q q 0 0 0 rg BT 548.06 656.10 Td (and ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 644.10 Td (were ) Tj ET Q q 0 0 0 rg BT 126.92 644.10 Td (not ) Tj ET Q q 0 0 0 rg BT 143.68 644.10 Td (adjusted ) Tj ET Q q 0 0 0 rg BT 180.99 644.10 Td (for ) Tj ET Q q 0 0 0 rg BT 196.64 644.10 Td (inflation. ) Tj ET Q q 0 0 0 rg BT 237.01 644.10 Td (Operating ) Tj ET Q q 0 0 0 rg BT 280.98 644.10 Td (expenses, ) Tj ET Q q 0 0 0 rg BT 323.56 644.10 Td (capital ) Tj ET Q q 0 0 0 rg BT 354.20 644.10 Td (costs, ) Tj ET Q q 0 0 0 rg BT 380.69 644.10 Td (and ) Tj ET Q q 0 0 0 rg BT 399.11 644.10 Td (abandonment ) Tj ET Q q 0 0 0 rg BT 456.97 644.10 Td (costs ) Tj ET Q q 0 0 0 rg BT 480.96 644.10 Td (were ) Tj ET Q q 0 0 0 rg BT 504.37 644.10 Td (considered, ) Tj ET Q q 0 0 0 rg BT 554.17 644.10 Td (as ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 103.50 632.10 Td (appropriate, ) Tj ET Q q 0 0 0 rg BT 154.03 632.10 Td (in ) Tj ET Q q 0 0 0 rg BT 164.31 632.10 Td (determining ) Tj ET Q q 0 0 0 rg BT 215.13 632.10 Td (the ) Tj ET Q q 0 0 0 rg BT 229.85 632.10 Td (economic ) Tj ET Q q 0 0 0 rg BT 271.22 632.10 Td (viability ) Tj ET Q q 0 0 0 rg BT 307.05 632.10 Td (of ) Tj ET Q q 0 0 0 rg BT 317.88 632.10 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 371.47 632.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 406.73 632.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 447.55 632.10 Td (herein.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 608.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.00 608.10 Td (our ) Tj ET Q q 0 0 0 rg BT 111.49 608.10 Td (opinion, ) Tj ET Q q 0 0 0 rg BT 146.72 608.10 Td (the ) Tj ET Q q 0 0 0 rg BT 161.10 608.10 Td (information ) Tj ET Q q 0 0 0 rg BT 210.48 608.10 Td (relating ) Tj ET Q q 0 0 0 rg BT 243.19 608.10 Td (to ) Tj ET Q q 0 0 0 rg BT 253.13 608.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 293.62 608.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 323.56 608.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 360.98 608.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 401.47 608.10 Td (future ) Tj ET Q q 0 0 0 rg BT 427.51 608.10 Td (net ) Tj ET Q q 0 0 0 rg BT 441.90 608.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 475.71 608.10 Td (from ) Tj ET Q q 0 0 0 rg BT 497.32 608.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 527.25 608.10 Td (reserves, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 596.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.37 596.10 Td (present ) Tj ET Q q 0 0 0 rg BT 97.68 596.10 Td (worth ) Tj ET Q q 0 0 0 rg BT 123.44 596.10 Td (of ) Tj ET Q q 0 0 0 rg BT 134.21 596.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 174.96 596.10 Td (future ) Tj ET Q q 0 0 0 rg BT 201.27 596.10 Td (net ) Tj ET Q q 0 0 0 rg BT 215.92 596.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 250.00 596.10 Td (from ) Tj ET Q q 0 0 0 rg BT 271.87 596.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 302.07 596.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 337.27 596.10 Td (of ) Tj ET Q q 0 0 0 rg BT 348.03 596.10 Td (oil, ) Tj ET Q q 0 0 0 rg BT 363.52 596.10 Td (condensate, ) Tj ET Q q 0 0 0 rg BT 412.88 596.10 Td (natural ) Tj ET Q q 0 0 0 rg BT 443.07 596.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 458.83 596.10 Td (liquids, ) Tj ET Q q 0 0 0 rg BT 490.99 596.10 Td (and ) Tj ET Q q 0 0 0 rg BT 507.87 596.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 523.63 596.10 Td (contained ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 584.10 Td (in ) Tj ET Q q 0 0 0 rg BT 61.49 584.10 Td (this ) Tj ET Q q 0 0 0 rg BT 80.16 584.10 Td (report ) Tj ET Q q 0 0 0 rg BT 108.25 584.10 Td (has ) Tj ET Q q 0 0 0 rg BT 125.80 584.10 Td (been ) Tj ET Q q 0 0 0 rg BT 148.89 584.10 Td (prepared ) Tj ET Q q 0 0 0 rg BT 188.08 584.10 Td (in ) Tj ET Q q 0 0 0 rg BT 200.08 584.10 Td (accordance ) Tj ET Q q 0 0 0 rg BT 249.25 584.10 Td (with ) Tj ET Q q 0 0 0 rg BT 271.25 584.10 Td (Paragraphs ) Tj ET Q q 0 0 0 rg BT 319.89 584.10 Td (932-235-50-4, ) Tj ET Q q 0 0 0 rg BT 381.60 584.10 Td (932-235-50-6, ) Tj ET Q q 0 0 0 rg BT 443.30 584.10 Td (932-235-50-7, ) Tj ET Q q 0 0 0 rg BT 505.01 584.10 Td (932-235-50-9, ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 572.10 Td (932-235-50-30, ) Tj ET Q q 0 0 0 rg BT 114.65 572.10 Td (and ) Tj ET Q q 0 0 0 rg BT 131.74 572.10 Td (932-235-50-31\(a\), ) Tj ET Q q 0 0 0 rg BT 207.98 572.10 Td (\(b\), ) Tj ET Q q 0 0 0 rg BT 224.80 572.10 Td (and ) Tj ET Q q 0 0 0 rg BT 241.89 572.10 Td (\(e\) ) Tj ET Q q 0 0 0 rg BT 255.65 572.10 Td (of ) Tj ET Q q 0 0 0 rg BT 266.63 572.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.92 572.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 330.23 572.10 Td (Standards ) Tj ET Q q 0 0 0 rg BT 372.32 572.10 Td (Update ) Tj ET Q q 0 0 0 rg BT 403.85 572.10 Td (932-235-50, ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 455.67 572.10 Td (Extractive ) Tj ET Q q 0 0 0 rg BT 499.41 572.10 Td (Industries ) Tj ET Q q 0 0 0 rg BT 542.07 572.10 Td (� ) Tj ET Q q 0 0 0 rg BT 549.72 572.10 Td (Oil ) Tj ET Q BT /F4 10.00 Tf ET q 0 0 0 rg BT 49.50 560.10 Td (and ) Tj ET Q q 0 0 0 rg BT 67.64 560.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 86.90 560.10 Td (\(T) Tj ET Q q 0 0 0 rg BT 94.87 560.10 Td (opic ) Tj ET Q q 0 0 0 rg BT 115.23 560.10 Td (932\): ) Tj ET Q q 0 0 0 rg BT 140.03 560.10 Td (Oil ) Tj ET Q q 0 0 0 rg BT 155.95 560.10 Td (and ) Tj ET Q q 0 0 0 rg BT 174.09 560.10 Td (Gas ) Tj ET Q q 0 0 0 rg BT 193.34 560.10 Td (Reserve ) Tj ET Q q 0 0 0 rg BT 228.13 560.10 Td (Estimation ) Tj ET Q q 0 0 0 rg BT 274.61 560.10 Td (and ) Tj ET Q q 0 0 0 rg BT 292.75 560.10 Td (Disclosur) Tj ET Q q 0 0 0 rg BT 331.27 560.10 Td (es) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 339.60 560.10 Td ( ) Tj ET Q q 0 0 0 rg BT 342.74 560.10 Td (\(January ) Tj ET Q q 0 0 0 rg BT 380.31 560.10 Td (2010\) ) Tj ET Q q 0 0 0 rg BT 406.78 560.10 Td (of ) Tj ET Q q 0 0 0 rg BT 418.25 560.10 Td (the ) Tj ET Q q 0 0 0 rg BT 433.61 560.10 Td (Financial ) Tj ET Q q 0 0 0 rg BT 473.27 560.10 Td (Accounting ) Tj ET Q q 0 0 0 rg BT 523.06 560.10 Td (Standards ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 548.10 Td (Board ) Tj ET Q q 0 0 0 rg BT 75.53 548.10 Td (and ) Tj ET Q q 0 0 0 rg BT 91.56 548.10 Td (Rules ) Tj ET Q q 0 0 0 rg BT 115.93 548.10 Td (4-10\(a\) ) Tj ET Q q 0 0 0 rg BT 146.95 548.10 Td (\(1\)-\(32\) ) Tj ET Q q 0 0 0 rg BT 180.19 548.10 Td (of ) Tj ET Q q 0 0 0 rg BT 190.12 548.10 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 235.59 548.10 Td (S-X ) Tj ET Q q 0 0 0 rg BT 253.29 548.10 Td (and ) Tj ET Q q 0 0 0 rg BT 269.32 548.10 Td (Rules ) Tj ET Q q 0 0 0 rg BT 293.69 548.10 Td (302\(b\), ) Tj ET Q q 0 0 0 rg BT 324.45 548.10 Td (1201, ) Tj ET Q q 0 0 0 rg BT 348.54 548.10 Td (1202\(a\) ) Tj ET Q q 0 0 0 rg BT 381.23 548.10 Td (\(1\), ) Tj ET Q q 0 0 0 rg BT 396.98 548.10 Td (\(2\), ) Tj ET Q q 0 0 0 rg BT 412.73 548.10 Td (\(3\), ) Tj ET Q q 0 0 0 rg BT 428.48 548.10 Td (\(4\), ) Tj ET Q q 0 0 0 rg BT 444.24 548.10 Td (\(8\), ) Tj ET Q q 0 0 0 rg BT 459.99 548.10 Td (and ) Tj ET Q q 0 0 0 rg BT 476.02 548.10 Td (1203\(a\) ) Tj ET Q q 0 0 0 rg BT 508.71 548.10 Td (of ) Tj ET Q q 0 0 0 rg BT 518.63 548.10 Td (Regulation ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 536.10 Td (S-K ) Tj ET Q q 0 0 0 rg BT 67.79 536.10 Td (of ) Tj ET Q q 0 0 0 rg BT 78.29 536.10 Td (the ) Tj ET Q q 0 0 0 rg BT 92.69 536.10 Td (Securities ) Tj ET Q q 0 0 0 rg BT 134.29 536.10 Td (and ) Tj ET Q q 0 0 0 rg BT 150.91 536.10 Td (Exchange ) Tj ET Q q 0 0 0 rg BT 192.51 536.10 Td (Commission; ) Tj ET Q q 0 0 0 rg BT 248.03 536.10 Td (provided, ) Tj ET Q q 0 0 0 rg BT 288.25 536.10 Td (however) Tj ET Q q 0 0 0 rg BT 322.28 536.10 Td (, ) Tj ET Q q 0 0 0 rg BT 326.95 536.10 Td (that ) Tj ET Q q 0 0 0 rg BT 344.12 536.10 Td (\(i\) ) Tj ET Q q 0 0 0 rg BT 355.74 536.10 Td (future ) Tj ET Q q 0 0 0 rg BT 381.79 536.10 Td (income ) Tj ET Q q 0 0 0 rg BT 413.40 536.10 Td (tax ) Tj ET Q q 0 0 0 rg BT 427.79 536.10 Td (expenses ) Tj ET Q q 0 0 0 rg BT 466.06 536.10 Td (have ) Tj ET Q q 0 0 0 rg BT 487.12 536.10 Td (not ) Tj ET Q q 0 0 0 rg BT 502.07 536.10 Td (been ) Tj ET Q q 0 0 0 rg BT 523.12 536.10 Td (taken ) Tj ET Q q 0 0 0 rg BT 546.95 536.10 Td (into ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 524.10 Td (account ) Tj ET Q q 0 0 0 rg BT 83.17 524.10 Td (in ) Tj ET Q q 0 0 0 rg BT 93.52 524.10 Td (estimating ) Tj ET Q q 0 0 0 rg BT 137.76 524.10 Td (the ) Tj ET Q q 0 0 0 rg BT 152.55 524.10 Td (future ) Tj ET Q q 0 0 0 rg BT 179.00 524.10 Td (net ) Tj ET Q q 0 0 0 rg BT 193.80 524.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 228.02 524.10 Td (and ) Tj ET Q q 0 0 0 rg BT 245.03 524.10 Td (present ) Tj ET Q q 0 0 0 rg BT 276.48 524.10 Td (worth ) Tj ET Q q 0 0 0 rg BT 302.39 524.10 Td (values ) Tj ET Q q 0 0 0 rg BT 330.51 524.10 Td (set ) Tj ET Q q 0 0 0 rg BT 344.20 524.10 Td (forth ) Tj ET Q q 0 0 0 rg BT 366.21 524.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 393.77 524.10 Td (and ) Tj ET Q q 0 0 0 rg BT 410.79 524.10 Td (\(ii\) ) Tj ET Q q 0 0 0 rg BT 425.58 524.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 465.37 524.10 Td (of ) Tj ET Q q 0 0 0 rg BT 476.27 524.10 Td (the ) Tj ET Q q 0 0 0 rg BT 491.06 524.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 521.41 524.10 Td (developed ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 512.10 Td (and ) Tj ET Q q 0 0 0 rg BT 66.44 512.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 96.71 512.10 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 150.30 512.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 185.56 512.10 Td (are ) Tj ET Q q 0 0 0 rg BT 200.27 512.10 Td (not ) Tj ET Q q 0 0 0 rg BT 215.54 512.10 Td (presented ) Tj ET Q q 0 0 0 rg BT 256.36 512.10 Td (at ) Tj ET Q q 0 0 0 rg BT 266.08 512.10 Td (the ) Tj ET Q q 0 0 0 rg BT 280.79 512.10 Td (beginning ) Tj ET Q q 0 0 0 rg BT 323.29 512.10 Td (of ) Tj ET Q q 0 0 0 rg BT 334.12 512.10 Td (the ) Tj ET Q q 0 0 0 rg BT 348.84 512.10 Td (year) Tj ET Q q 0 0 0 rg BT 365.49 512.10 Td (.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 85.50 488.10 Td (T) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 90.91 488.10 Td (o ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 98.59 488.10 Td (the ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 113.49 488.10 Td (extent ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 140.60 488.10 Td (the ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 155.50 488.10 Td (above-enumerated ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 232.03 488.10 Td (rules, ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 256.65 488.10 Td (regulations, ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 306.26 488.10 Td (and ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 323.38 488.10 Td (statements ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 368.27 488.10 Td (require ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 399.27 488.10 Td (determinations ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 461.38 488.10 Td (of ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 472.39 488.10 Td (an ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 484.51 488.10 Td (accounting ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 531.06 488.10 Td (or ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 542.07 488.10 Td (legal ) Tj ET Q BT /F1 10.00 Tf ET q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 49.50 476.10 Td (nature, ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 78.43 476.10 Td (we, ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 94.04 476.10 Td (as ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 103.82 476.10 Td (engineers, ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 146.08 476.10 Td (are ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 159.73 476.10 Td (necessarily ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 205.60 476.10 Td (unable ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 233.70 476.10 Td (to ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 242.93 476.10 Td (express ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 274.37 476.10 Td (an ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 285.25 476.10 Td (opinion ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 317.26 476.10 Td (as ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 327.03 476.10 Td (to ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 336.26 476.10 Td (whether ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 369.91 476.10 Td (the ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 383.57 476.10 Td (above-described ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 450.54 476.10 Td (information ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 499.20 476.10 Td (is ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 507.32 476.10 Td (in ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 516.54 476.10 Td (accordance ) Tj ET Q BT /F1 10.00 Tf ET q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 49.50 464.10 Td (therewith ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 89.76 464.10 Td (or ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 100.59 464.10 Td (suf) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 112.63 464.10 Td (ficient ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 140.68 464.10 Td (therefor) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 171.77 464.10 Td (.) Tj ET Q BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 0 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 49.5 438.53505859375 m 156.736328125 438.53505859375 l s q 0 0 0 rg BT 49.50 440.10 Td (Summary ) Tj ET Q q 0 0 0 rg BT 94.22 440.10 Td (of ) Tj ET Q q 0 0 0 rg BT 105.05 440.10 Td (Conclusions) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 416.10 Td (The ) Tj ET Q q 0 0 0 rg BT 102.52 416.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 142.32 416.10 Td (net ) Tj ET Q q 0 0 0 rg BT 156.01 416.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 185.25 416.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 221.98 416.10 Td (as ) Tj ET Q q 0 0 0 rg BT 231.79 416.10 Td (of ) Tj ET Q q 0 0 0 rg BT 241.59 416.10 Td (December ) Tj ET Q q 0 0 0 rg BT 284.15 416.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 298.13 416.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 322.10 416.10 Td (of ) Tj ET Q q 0 0 0 rg BT 331.91 416.10 Td (the ) Tj ET Q q 0 0 0 rg BT 345.60 416.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 387.06 416.10 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 426.84 416.10 Td (herein ) Tj ET Q q 0 0 0 rg BT 453.30 416.10 Td (were ) Tj ET Q q 0 0 0 rg BT 474.21 416.10 Td (based ) Tj ET Q q 0 0 0 rg BT 498.45 416.10 Td (on ) Tj ET Q q 0 0 0 rg BT 509.92 416.10 Td (the ) Tj ET Q q 0 0 0 rg BT 523.62 416.10 Td (definition ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 404.10 Td (of ) Tj ET Q q 0 0 0 rg BT 60.71 404.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 91.36 404.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 127.00 404.10 Td (of ) Tj ET Q q 0 0 0 rg BT 138.21 404.10 Td (the ) Tj ET Q q 0 0 0 rg BT 153.30 404.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 174.52 404.10 Td (and ) Tj ET Q q 0 0 0 rg BT 191.84 404.10 Td (are ) Tj ET Q q 0 0 0 rg BT 206.93 404.10 Td (summarized ) Tj ET Q q 0 0 0 rg BT 258.68 404.10 Td (as ) Tj ET Q q 0 0 0 rg BT 269.89 404.10 Td (follows, ) Tj ET Q q 0 0 0 rg BT 305.27 404.10 Td (expressed ) Tj ET Q q 0 0 0 rg BT 347.58 404.10 Td (in ) Tj ET Q q 0 0 0 rg BT 358.24 404.10 Td (thousands ) Tj ET Q q 0 0 0 rg BT 401.12 404.10 Td (of ) Tj ET Q q 0 0 0 rg BT 412.33 404.10 Td (barrels ) Tj ET Q q 0 0 0 rg BT 442.41 404.10 Td (\(Mbbl\), ) Tj ET Q q 0 0 0 rg BT 476.12 404.10 Td (millions ) Tj ET Q q 0 0 0 rg BT 511.79 404.10 Td (of ) Tj ET Q q 0 0 0 rg BT 523.00 404.10 Td (cubic ) Tj ET Q q 0 0 0 rg BT 547.53 404.10 Td (feet ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 392.10 Td (\(MMcf\), ) Tj ET Q q 0 0 0 rg BT 86.71 392.10 Td (and ) Tj ET Q q 0 0 0 rg BT 103.65 392.10 Td (thousands ) Tj ET Q q 0 0 0 rg BT 146.15 392.10 Td (of ) Tj ET Q q 0 0 0 rg BT 156.98 392.10 Td (barrels ) Tj ET Q q 0 0 0 rg BT 186.69 392.10 Td (of ) Tj ET Q q 0 0 0 rg BT 197.52 392.10 Td (oil ) Tj ET Q q 0 0 0 rg BT 210.57 392.10 Td (equivalent ) Tj ET Q q 0 0 0 rg BT 254.72 392.10 Td (\(Mboe\):) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 50.50 294.60 304.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 294.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 294.60 64.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 422.50 294.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 426.50 294.60 65.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 491.50 294.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.50 294.60 65.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 50.50 265.60 304.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 354.50 265.60 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 358.50 265.60 64.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 422.50 265.60 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 426.50 265.60 65.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 491.50 265.60 4.00 -13.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 495.50 265.60 65.00 -13.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 367.6 m 422.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 367.6 m 426.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 367.6 m 491.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 367.6 m 495.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 367.6 m 560.5 367.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 341.6 m 422.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 422.5 341.6 m 426.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 341.6 m 491.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 491.5 341.6 m 495.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 341.6 m 560.5 341.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 308.6 m 422.5 308.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 308.6 m 491.5 308.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 308.6 m 560.5 308.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 358.5 280.6 m 422.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 426.5 280.6 m 491.5 280.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 495.5 280.6 m 560.5 280.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.95 372.28 Td (Estimated by DeGolyer) Tj ET Q q 0 0 0 rg BT 467.75 372.28 Td ( and MacNaughton) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 394.25 358.28 Td (Net Post-NPI Pr) Tj ET Q q 0 0 0 rg BT 463.49 358.28 Td (oved Reserves) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 407.55 346.28 Td (as of December) Tj ET Q q 0 0 0 rg BT 472.90 346.28 Td ( 31, 2018) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 361.40 323.28 Td (T) Tj ET Q q 0 0 0 rg BT 367.15 323.28 Td (otal Liquids) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 375.00 313.28 Td (\(Mbbl\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 438.05 323.28 Td (Sales Gas) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 441.80 313.28 Td (\(MMcf\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 520.80 332.33 Td (Oil ) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 504.15 322.33 Td (Equivalent) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 511.95 312.33 Td (\(Mboe\)) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 299.17 Td (Proved Developed) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 386.15 299.17 Td (222,736) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 460.15 299.17 Td (42,912) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 524.15 299.17 Td (229,888) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 53.00 285.17 Td (Proved Undeveloped) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 391.15 285.17 Td (32,306) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 477.65 285.17 Td (96) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 529.15 285.17 Td (32,322) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 53.00 256.33 Td (T) Tj ET Q q 0 0 0 rg BT 58.75 256.33 Td (otal Pr) Tj ET Q q 0 0 0 rg BT 87.73 256.33 Td (oved) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 386.15 256.33 Td (255,042) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 460.15 256.33 Td (43,008) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 524.15 256.33 Td (262,210) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 229.10 Td (Notes: ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 217.10 Td (1. Sales gas reserves estimated herein were converted to oil equivalent using an ener) Tj ET Q q 0 0 0 rg BT 422.98 217.10 Td (gy equivalent factor of 6,000 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 121.50 205.10 Td (cubic feet of gas per 1 barrel of oil equivalent.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 193.10 Td (2. ) Tj ET Q q 0 0 0 rg BT 95.32 193.10 Td (T) Tj ET Q q 0 0 0 rg BT 100.73 193.10 Td (otal liquids include 3,473 Mbbl of proved developed NGL.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 169.10 Td (In ) Tj ET Q q 0 0 0 rg BT 96.64 169.10 Td (addition ) Tj ET Q q 0 0 0 rg BT 132.23 169.10 Td (to ) Tj ET Q q 0 0 0 rg BT 142.82 169.10 Td (the ) Tj ET Q q 0 0 0 rg BT 157.84 169.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 173.99 169.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 209.56 169.10 Td (shown ) Tj ET Q q 0 0 0 rg BT 238.48 169.10 Td (in ) Tj ET Q q 0 0 0 rg BT 249.07 169.10 Td (the ) Tj ET Q q 0 0 0 rg BT 264.10 169.10 Td (foregoing ) Tj ET Q q 0 0 0 rg BT 305.79 169.10 Td (tabulation, ) Tj ET Q q 0 0 0 rg BT 351.09 169.10 Td (Denbury's ) Tj ET Q q 0 0 0 rg BT 394.58 169.10 Td (net ) Tj ET Q q 0 0 0 rg BT 409.61 169.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 440.19 169.10 Td (carbon ) Tj ET Q q 0 0 0 rg BT 470.21 169.10 Td (dioxide ) Tj ET Q q 0 0 0 rg BT 503.02 169.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 519.16 169.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 554.73 169.10 Td (in ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 157.10 Td (Mississippi ) Tj ET Q q 0 0 0 rg BT 98.29 157.10 Td (and ) Tj ET Q q 0 0 0 rg BT 115.71 157.10 Td (W) Tj ET Q q 0 0 0 rg BT 124.55 157.10 Td (yoming, ) Tj ET Q q 0 0 0 rg BT 160.83 157.10 Td (as ) Tj ET Q q 0 0 0 rg BT 172.37 157.10 Td (of ) Tj ET Q q 0 0 0 rg BT 183.92 157.10 Td (December ) Tj ET Q q 0 0 0 rg BT 228.22 157.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 243.94 157.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 269.66 157.10 Td (were ) Tj ET Q q 0 0 0 rg BT 292.30 157.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 333.84 157.10 Td (to ) Tj ET Q q 0 0 0 rg BT 344.84 157.10 Td (be ) Tj ET Q q 0 0 0 rg BT 357.50 157.10 Td (5,123,665 ) Tj ET Q q 0 0 0 rg BT 400.71 157.10 Td (MMcf. ) Tj ET Q q 0 0 0 rg BT 431.75 157.10 Td (This ) Tj ET Q q 0 0 0 rg BT 452.75 157.10 Td (amount ) Tj ET Q q 0 0 0 rg BT 485.96 157.10 Td (includes ) Tj ET Q q 0 0 0 rg BT 522.50 157.10 Td (4,738,710 ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 145.10 Td (MMcf ) Tj ET Q q 0 0 0 rg BT 76.35 145.10 Td (of ) Tj ET Q q 0 0 0 rg BT 85.98 145.10 Td (developed ) Tj ET Q q 0 0 0 rg BT 128.38 145.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 162.44 145.10 Td (and ) Tj ET Q q 0 0 0 rg BT 178.18 145.10 Td (384,955 ) Tj ET Q q 0 0 0 rg BT 211.98 145.10 Td (MMcf ) Tj ET Q q 0 0 0 rg BT 238.83 145.10 Td (of ) Tj ET Q q 0 0 0 rg BT 248.46 145.10 Td (undeveloped ) Tj ET Q q 0 0 0 rg BT 300.86 145.10 Td (reserves. ) Tj ET Q q 0 0 0 rg BT 337.42 145.10 Td (Denbury's ) Tj ET Q q 0 0 0 rg BT 379.40 145.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 408.47 145.10 Td (carbon ) Tj ET Q q 0 0 0 rg BT 436.98 145.10 Td (dioxide ) Tj ET Q q 0 0 0 rg BT 468.28 145.10 Td (gas ) Tj ET Q q 0 0 0 rg BT 482.91 145.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 516.97 145.10 Td (attributable ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 133.10 Td (to ) Tj ET Q q 0 0 0 rg BT 59.62 133.10 Td (its ) Tj ET Q q 0 0 0 rg BT 71.40 133.10 Td (working ) Tj ET Q q 0 0 0 rg BT 107.07 133.10 Td (interest ) Tj ET Q q 0 0 0 rg BT 138.84 133.10 Td (were ) Tj ET Q q 0 0 0 rg BT 160.61 133.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 201.27 133.10 Td (to ) Tj ET Q q 0 0 0 rg BT 211.38 133.10 Td (be ) Tj ET Q q 0 0 0 rg BT 223.16 133.10 Td (4,895,412 ) Tj ET Q q 0 0 0 rg BT 265.50 133.10 Td (MMcf, ) Tj ET Q q 0 0 0 rg BT 295.89 133.10 Td (of ) Tj ET Q q 0 0 0 rg BT 306.55 133.10 Td (which ) Tj ET Q q 0 0 0 rg BT 333.33 133.10 Td (4,416,586 ) Tj ET Q q 0 0 0 rg BT 375.67 133.10 Td (MMcf ) Tj ET Q q 0 0 0 rg BT 403.56 133.10 Td (are ) Tj ET Q q 0 0 0 rg BT 418.10 133.10 Td (developed. ) Tj ET Q q 0 0 0 rg BT 463.87 133.10 Td (The ) Tj ET Q q 0 0 0 rg BT 481.75 133.10 Td (gross ) Tj ET Q q 0 0 0 rg BT 505.20 133.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 535.31 133.10 Td (carbon ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 121.10 Td (dioxide ) Tj ET Q q 0 0 0 rg BT 82.49 121.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 118.25 121.10 Td (for ) Tj ET Q q 0 0 0 rg BT 132.91 121.10 Td (the ) Tj ET Q q 0 0 0 rg BT 148.12 121.10 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 189.43 121.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 232.41 121.10 Td (were ) Tj ET Q q 0 0 0 rg BT 254.83 121.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 296.15 121.10 Td (to ) Tj ET Q q 0 0 0 rg BT 306.93 121.10 Td (be ) Tj ET Q q 0 0 0 rg BT 319.36 121.10 Td (8,449,054 ) Tj ET Q q 0 0 0 rg BT 362.36 121.10 Td (MMcf, ) Tj ET Q q 0 0 0 rg BT 393.41 121.10 Td (of ) Tj ET Q q 0 0 0 rg BT 404.74 121.10 Td (which ) Tj ET Q q 0 0 0 rg BT 432.17 121.10 Td (7,954,054 ) Tj ET Q q 0 0 0 rg BT 475.17 121.10 Td (MMcf ) Tj ET Q q 0 0 0 rg BT 503.72 121.10 Td (are ) Tj ET Q q 0 0 0 rg BT 518.92 121.10 Td (developed. ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 109.10 Td (The ) Tj ET Q q 0 0 0 rg BT 67.32 109.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 97.37 109.10 Td (carbon ) Tj ET Q q 0 0 0 rg BT 126.85 109.10 Td (dioxide ) Tj ET Q q 0 0 0 rg BT 159.13 109.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 194.16 109.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 233.65 109.10 Td (have ) Tj ET Q q 0 0 0 rg BT 254.80 109.10 Td (been ) Tj ET Q q 0 0 0 rg BT 275.96 109.10 Td (prepared ) Tj ET Q q 0 0 0 rg BT 313.21 109.10 Td (by ) Tj ET Q q 0 0 0 rg BT 325.49 109.10 Td (applying ) Tj ET Q q 0 0 0 rg BT 362.76 109.10 Td (the ) Tj ET Q q 0 0 0 rg BT 377.25 109.10 Td (same ) Tj ET Q q 0 0 0 rg BT 400.08 109.10 Td (reserves ) Tj ET Q q 0 0 0 rg BT 435.11 109.10 Td (definitions ) Tj ET Q q 0 0 0 rg BT 480.16 109.10 Td (of ) Tj ET Q q 0 0 0 rg BT 490.77 109.10 Td (Rules ) Tj ET Q q 0 0 0 rg BT 515.82 109.10 Td (4-10\(a\) ) Tj ET Q q 0 0 0 rg BT 547.53 109.10 Td (\(1\)-) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 97.10 Td (\(32\) ) Tj ET Q q 0 0 0 rg BT 68.66 97.10 Td (of ) Tj ET Q q 0 0 0 rg BT 79.49 97.10 Td (Regulation ) Tj ET Q q 0 0 0 rg BT 125.87 97.10 Td (S-X ) Tj ET Q q 0 0 0 rg BT 144.49 97.10 Td (of ) Tj ET Q q 0 0 0 rg BT 155.32 97.10 Td (the ) Tj ET Q q 0 0 0 rg BT 170.03 97.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 190.87 97.10 Td (for ) Tj ET Q q 0 0 0 rg BT 205.03 97.10 Td (gas. ) Tj ET Q q 0 0 0 rg BT 223.36 97.10 Td (No ) Tj ET Q q 0 0 0 rg BT 238.08 97.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 272.23 97.10 Td (estimates ) Tj ET Q q 0 0 0 rg BT 311.94 97.10 Td (have ) Tj ET Q q 0 0 0 rg BT 333.32 97.10 Td (been ) Tj ET Q q 0 0 0 rg BT 354.70 97.10 Td (made ) Tj ET Q q 0 0 0 rg BT 378.85 97.10 Td (for ) Tj ET Q q 0 0 0 rg BT 393.01 97.10 Td (the ) Tj ET Q q 0 0 0 rg BT 407.73 97.10 Td (carbon ) Tj ET Q q 0 0 0 rg BT 437.43 97.10 Td (dioxide ) Tj ET Q q 0 0 0 rg BT 469.93 97.10 Td (reserves.) Tj ET Q endstream endobj 251 0 obj <> endobj 252 0 obj <> stream BT /F1 10.00 Tf ET q 0 0 0 rg BT 85.50 740.10 Td (The ) Tj ET Q q 0 0 0 rg BT 103.48 740.10 Td (estimated ) Tj ET Q q 0 0 0 rg BT 144.22 740.10 Td (future ) Tj ET Q q 0 0 0 rg BT 170.53 740.10 Td (revenue ) Tj ET Q q 0 0 0 rg BT 204.60 740.10 Td (to ) Tj ET Q q 0 0 0 rg BT 214.81 740.10 Td (be ) Tj ET Q q 0 0 0 rg BT 226.68 740.10 Td (derived ) Tj ET Q q 0 0 0 rg BT 259.09 740.10 Td (from ) Tj ET Q q 0 0 0 rg BT 280.96 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 295.60 740.10 Td (production ) Tj ET Q q 0 0 0 rg BT 341.35 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 352.11 740.10 Td (the ) Tj ET Q q 0 0 0 rg BT 366.76 740.10 Td (net ) Tj ET Q q 0 0 0 rg BT 381.40 740.10 Td (proved ) Tj ET Q q 0 0 0 rg BT 411.60 740.10 Td (reserves, ) Tj ET Q q 0 0 0 rg BT 449.29 740.10 Td (as ) Tj ET Q q 0 0 0 rg BT 460.04 740.10 Td (of ) Tj ET Q q 0 0 0 rg BT 470.80 740.10 Td (December ) Tj ET Q q 0 0 0 rg BT 514.32 740.10 Td (31, ) Tj ET Q q 0 0 0 rg BT 529.24 740.10 Td (2018, ) Tj ET Q q 0 0 0 rg BT 554.17 740.10 Td (of ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 64.13 728.10 Td (properties ) Tj ET Q q 0 0 0 rg BT 106.52 728.10 Td (evaluated ) Tj ET Q q 0 0 0 rg BT 147.25 728.10 Td (using ) Tj ET Q q 0 0 0 rg BT 171.33 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 185.96 728.10 Td (guidelines ) Tj ET Q q 0 0 0 rg BT 229.47 728.10 Td (established ) Tj ET Q q 0 0 0 rg BT 276.31 728.10 Td (by ) Tj ET Q q 0 0 0 rg BT 288.73 728.10 Td (the ) Tj ET Q q 0 0 0 rg BT 303.35 728.10 Td (SEC ) Tj ET Q q 0 0 0 rg BT 324.10 728.10 Td (is ) Tj ET Q q 0 0 0 rg BT 333.19 728.10 Td (summarized ) Tj ET Q q 0 0 0 rg BT 384.47 728.10 Td (as ) Tj ET Q q 0 0 0 rg BT 395.21 728.10 Td (follows, ) Tj ET Q q 0 0 0 rg BT 430.12 728.10 Td (expressed ) Tj ET Q q 0 0 0 rg BT 471.96 728.10 Td (in ) Tj ET Q q 0 0 0 rg BT 482.15 728.10 Td (thousands ) Tj ET Q q 0 0 0 rg BT 524.56 728.10 Td (of ) Tj ET Q q 0 0 0 rg BT 535.30 728.10 Td (dollars ) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 716.10 Td (\(M$\):) Tj ET Q 0.8 0.8 0.8 rg /GS0 gs 49.00 677.60 310.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 677.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 363.00 677.60 111.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 474.00 677.60 88.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 649.60 310.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 649.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 363.00 649.60 111.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 474.00 649.60 88.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 49.00 621.60 310.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 359.00 621.60 4.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 363.00 621.60 111.00 -14.00 re f /GS0 gs 0.8 0.8 0.8 rg /GS0 gs 474.00 621.60 88.00 -14.00 re f /GS0 gs 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 363 691.6 m 474 691.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 474 691.6 m 562 691.6 l s BT /F2 10.00 Tf ET q 0 0 0 rg BT 367.50 696.28 Td (Pr) Tj ET Q q 0 0 0 rg BT 377.96 696.28 Td (oved Developed \(M$\)) Tj ET Q BT /F2 10.00 Tf ET q 0 0 0 rg BT 478.30 696.28 Td (T) Tj ET Q q 0 0 0 rg BT 484.05 696.28 Td (otal Pr) Tj ET Q q 0 0 0 rg BT 513.03 696.28 Td (oved \(M$\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 51.50 682.17 Td (Future Gross Revenue \(Post-NPI\)) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 425.15 682.17 Td (14,515,414) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 513.15 682.17 Td (16,657,988) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 51.50 668.17 Td (Production and ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 114.55 668.17 Td (Ad ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 128.90 668.17 Td (V) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 135.48 668.17 Td (alorem ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 165.10 668.17 Td (T) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 170.77 668.17 Td (axes) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 430.15 668.17 Td (1,091,848) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 668.17 Td (1,222,507) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 51.50 654.17 Td (Operating Expenses) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 430.15 654.17 Td (6,123,153) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 654.17 Td (6,778,377) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 640.17 Td (Capital Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 640.17 Td (471,818) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 640.17 Td (882,560) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 626.17 Td (Abandonment Costs) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 437.65 626.17 Td (627,925) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 525.65 626.17 Td (641,916) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 612.17 Td (Future Net Revenue) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 612.17 Td (6,200,670) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 612.17 Td (7,132,628) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 51.50 598.17 Td (Present ) Tj ET Q q 0 0 0 rg BT 83.26 598.17 Td (W) Tj ET Q q 0 0 0 rg BT 91.90 598.17 Td (orth at 10 Percent) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 430.15 598.17 Td (3,679,396) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 518.15 598.17 Td (4,025,139) Tj ET Q BT /F1 10.00 Tf ET BT /F1 10.00 Tf ET q 0 0 0 rg BT 49.50 570.10 Td (Note: Future income taxes have not been taken into account in the preparation of these estimates.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 85.50 546.10 Td (While ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 113.31 546.10 Td (the ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 128.89 546.10 Td (oil ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 142.82 546.10 Td (and ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 160.63 546.10 Td (gas ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 177.33 546.10 Td (industry ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 213.48 546.10 Td (may ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 234.07 546.10 Td (be ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 246.88 546.10 Td (subject ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 278.58 546.10 Td (to ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 289.73 546.10 Td (regulatory ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 334.19 546.10 Td (changes ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 369.77 546.10 Td (from ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 392.58 546.10 Td (time ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 413.73 546.10 Td (to ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 424.88 546.10 Td (time ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 446.02 546.10 Td (that ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 464.39 546.10 Td (could ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 489.98 546.10 Td (af) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 497.57 546.10 Td (fect ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 515.92 546.10 Td (an ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 528.73 546.10 Td (industry ) Tj ET Q BT /F1 10.00 Tf ET q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 49.50 534.10 Td (participant's ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 100.39 534.10 Td (ability ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 128.37 534.10 Td (to ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 138.58 534.10 Td (recover ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 170.99 534.10 Td (its ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 182.87 534.10 Td (reserves, ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 220.56 534.10 Td (we ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 234.66 534.10 Td (are ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 249.30 534.10 Td (not ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 264.51 534.10 Td (aware ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 290.81 534.10 Td (of ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 301.57 534.10 Td (any ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 318.44 534.10 Td (such ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 339.21 534.10 Td (governmental ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 396.62 534.10 Td (actions ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 427.38 534.10 Td (which ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 454.25 534.10 Td (would ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 481.68 534.10 Td (restrict ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 511.88 534.10 Td (the ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 526.53 534.10 Td (recovery ) Tj ET Q BT /F1 10.00 Tf ET q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 49.50 522.10 Td (of ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 60.33 522.10 Td (the ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 75.05 522.10 Td (December ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 118.63 522.10 Td (31, ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 133.63 522.10 Td (2018, ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 158.63 522.10 Td (estimated ) Tj ET Q q 0.14901960784313725 0.14901960784313725 0.14901960784313725 rg BT 199.45 522.10 Td (reserves.) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 85.50 498.10 Td (DeGolyer ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 126.84 498.10 Td (and ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 143.18 498.10 Td (MacNaughton ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 202.29 498.10 Td (is ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 210.87 498.10 Td (an ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 222.22 498.10 Td (independent ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 273.00 498.10 Td (petroleum ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 315.44 498.10 Td (engineering ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 364.55 498.10 Td (consulting ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 408.12 498.10 Td (firm ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 427.25 498.10 Td (that ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 444.15 498.10 Td (has ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 459.39 498.10 Td (been ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 480.17 498.10 Td (providing ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 520.96 498.10 Td (petroleum ) Tj ET Q BT /F1 10.00 Tf ET q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 49.50 486.10 Td (consulting ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 93.38 486.10 Td (services ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 127.81 486.10 Td (throughout ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 173.91 486.10 Td (the ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 188.34 486.10 Td (world ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 213.89 486.10 Td (since ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 236.65 486.10 Td (1936. ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 261.37 486.10 Td (DeGolyer ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 303.02 486.10 Td (and ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 319.67 486.10 Td (MacNaughton ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 379.09 486.10 Td (does ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 399.64 486.10 Td (not ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 414.64 486.10 Td (have ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 435.73 486.10 Td (any ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 452.39 486.10 Td (financial ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 489.58 486.10 Td (interest, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 523.73 486.10 Td (including ) Tj ET Q BT /F1 10.00 Tf ET q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 49.50 474.10 Td (stock ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 73.17 474.10 Td (ownership, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 119.90 474.10 Td (in ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 130.24 474.10 Td (Denbury) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 164.58 474.10 Td (. ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 169.64 474.10 Td (Our ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 187.76 474.10 Td (fees ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 206.42 474.10 Td (were ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 228.41 474.10 Td (not ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 243.75 474.10 Td (contingent ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 288.53 474.10 Td (on ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 301.09 474.10 Td (the ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 315.87 474.10 Td (results ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 344.54 474.10 Td (of ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 355.44 474.10 Td (our ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 371.33 474.10 Td (evaluation. ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 417.86 474.10 Td (This ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 438.20 474.10 Td (report ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 464.64 474.10 Td (has ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 480.54 474.10 Td (been ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 501.98 474.10 Td (prepared ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 539.52 474.10 Td (at ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 549.30 474.10 Td (the ) Tj ET Q BT /F1 10.00 Tf ET q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 49.50 462.10 Td (request ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 79.69 462.10 Td (of ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 89.32 462.10 Td (Denbury) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 123.67 462.10 Td (. ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 127.47 462.10 Td (DeGolyer ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 168.21 462.10 Td (and ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 183.96 462.10 Td (MacNaughton ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 242.47 462.10 Td (has ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 257.11 462.10 Td (used ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 276.75 462.10 Td (all ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 288.05 462.10 Td (assumptions, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 341.31 462.10 Td (data, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 361.78 462.10 Td (procedures,) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 408.14 462.10 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 409.45 462.10 Td (and ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 425.20 462.10 Td (methods ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 460.39 462.10 Td (that ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 476.70 462.10 Td (it ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 483.56 462.10 Td (considers ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 522.64 462.10 Td (necessary ) Tj ET Q BT /F1 10.00 Tf ET q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 49.50 450.10 Td (and ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 66.44 450.10 Td (appropriate ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 114.47 450.10 Td (to ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 124.75 450.10 Td (prepare ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 157.22 450.10 Td (this ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 174.17 450.10 Td (report.) Tj ET Q 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 399.6 m 563 399.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 399.6 m 563 399.6 l s BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 345.50 418.17 Td (Submitted,) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.50 404.17 Td (/s/ DeGolyer and MacNaughton) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.50 390.17 Td (DeGolyer and MacNaughton) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 345.50 380.17 Td (T) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 350.91 380.17 Td (exas Registered Engineering Firm F-716) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 327.6 m 563 327.6 l s 0 0 0 RG /GS0 gs 1.00 w 0 i [] 0 d 0 J 0 j 3 M 343 327.6 m 563 327.6 l s BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.50 332.17 Td (/s/ Gregory K. Graves, P) Tj ET Q q 0 0 0 rg BT 443.26 332.17 Td (.E.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.50 318.17 Td (Gregory K. Graves, P) Tj ET Q q 0 0 0 rg BT 431.32 318.17 Td (.E.) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.50 308.17 Td (Senior ) Tj ET Q q 0 0 0 rg BT 373.93 308.17 Td (V) Tj ET Q q 0 0 0 rg BT 380.55 308.17 Td (ice President) Tj ET Q BT /F1 10.00 Tf ET q 0 0 0 rg BT 345.50 298.17 Td (DeGolyer and MacNaughton) Tj ET Q BT /F1 10.00 Tf ET endstream endobj 253 0 obj <> endobj 254 0 obj <> stream BT /F2 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL 0.1568627450980392 0.1568627450980392 0.1568627450980392 RG /GS0 gs 0.95 w 0 i [] 0 d 1 J 1 j 3 M 223.6 738.68505859375 m 387.340234375 738.68505859375 l s q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 223.60 740.25 Td (CER) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 244.36 740.25 Td (TIFICA) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 278.62 740.25 Td (TE of QUALIFICA) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 361.78 740.25 Td (TION) Tj ET Q BT /F1 10.00 Tf ET q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 67.50 704.25 Td (I, Gregory K. Graves, Petroleum Engineer with DeGolyer and MacNaughton,) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 378.24 704.25 Td ( ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 380.74 704.25 Td (5001 Spring ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 432.23 704.25 Td (V) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 438.34 704.25 Td (alley Road, Suite 800 East, ) Tj ET Q BT /F1 10.00 Tf ET q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 49.50 692.25 Td (Dallas, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 79.87 692.25 Td (T) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 85.28 692.25 Td (exas, 75244 U.S.A., hereby certify:) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0 0 0 rg BT 67.50 668.25 Td (1. ) Tj ET Q BT /F1 10.00 Tf ET 0 Tr /GS0 gs 0 Tw 0 Tc 100 Tz 0 TL q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 85.50 668.25 Td (That ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 106.76 668.25 Td (I ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 113.02 668.25 Td (am ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 128.17 668.25 Td (a ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 135.54 668.25 Td (Senior ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 164.36 668.25 Td (V) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 170.98 668.25 Td (ice ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 185.57 668.25 Td (President ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 225.72 668.25 Td (with ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 246.43 668.25 Td (DeGolyer ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 288.79 668.25 Td (and ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 306.16 668.25 Td (MacNaughton, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 368.80 668.25 Td (which ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 396.17 668.25 Td (firm ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 416.31 668.25 Td (did ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 432.02 668.25 Td (prepare ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 464.93 668.25 Td (the ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 480.08 668.25 Td (report ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 506.89 668.25 Td (of ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 518.15 668.25 Td (third ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 539.96 668.25 Td (party ) Tj ET Q BT /F1 10.00 Tf ET q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 85.50 656.25 Td (addressed ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 127.34 656.25 Td (to ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 137.53 656.25 Td (Denbury ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 174.93 656.25 Td (Resources ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 218.44 656.25 Td (Inc. ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 236.13 656.25 Td (dated ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 260.19 656.25 Td (February ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 298.70 656.25 Td (19, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 313.62 656.25 Td (2019, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 338.53 656.25 Td (and ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 355.38 656.25 Td (that ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 372.79 656.25 Td (I, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 381.03 656.25 Td (as ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 391.77 656.25 Td (Senior ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 420.12 656.25 Td (V) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 426.74 656.25 Td (ice ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 440.80 656.25 Td (President, ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 482.93 656.25 Td (was ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 500.90 656.25 Td (responsible ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 548.86 656.25 Td (for ) Tj ET Q BT /F1 10.00 Tf ET q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 85.50 644.25 Td (the ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 100.22 644.25 Td (preparation ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 148.25 644.25 Td (of ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 159.08 644.25 Td (this ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 176.03 644.25 Td (report ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 202.40 644.25 Td (of ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 213.23 644.25 Td (third ) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 234.62 644.25 Td (party) Tj ET Q q 0.1568627450980392 0.1568627450980392 0.1568627450980392 rg BT 254.52 644.25 Td (.) 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