--  Planned drilling of six (5.7 net) wells, including four horizontal wells
    targeting Montney light oil, plus completion of three (2.6 net)
    horizontal wells drilled in late 2011 at Ansell/Sundance; 
--  Average production of approximately 6,200 boe per day, an increase of 38
    percent over 2011 guidance; 
--  Targeted light oil production of approximately 700 bbls per day exiting
    2012 and a corporate exit rate estimated at approximately 5,800 boe per
    day; and 
--  Estimated 2012 funds from operations of $40 million ($0.54 per basic
    share), based on an average crude oil price of US$85 per barrel WTI and
    an average AECO natural gas price of Cdn$3.25 per GJ.

--  Known area wells to date have achieved an average 30-day IP rate of
    approximately 300 bbls per day of high-quality, 40 degrees API oil; 
--  Several of these wells have been tested at rates exceeding 1,000 bbls of
    oil per day; 
--  One well located less than 600 metres from Open Range lands has produced
    70,000 bbls of oil over its first 15 months on production, averaging 155
    bbls of oil per day over that period; and 
--  An offsetting competitor has reported estimated netbacks of $60 per boe,
    operating costs below $7 per boe and recycle ratios of approximately 3
    times.

--  Per-well costs of approximately $4.8 million from spud to on-production;
--  A type curve including an IP30 of 300 bbls per day with expected
    ultimate recovery of approximately 160,000 bbls of light oil per well.