As a growth Company, our focus at Oilexco is to continue to steadily increase our daily production. In 2004 we purchased minor interests in the Balmoral and Glamis light oil fields that provided us with daily production that ranged between 140 bbls/d to 200 bbls/d. In Q2 2007, our Brenda/Nicol Fields came onto production that have averaged between 20,000 boe/d to more than 30,000 boe/d based on full days of production, which places us in the top quartile of all companies in the UK North Sea. 

 

Over the next several years, we plan to add to our production based upon our inventory of appraisal prospects. Senior management, along with our development team, are very focused to quickly turn discoveries into production. With two semi-submersible drilling vessels under long term contract, we have the means to do this. It is an exciting time for our Company!