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The closing
market price of our common stock on March 1, 2007 was $30.12 per
share. As of March 1, 2007, there were an estimated 113 record owners
of our common stock.
We have not
paid any dividends on our common stock in the past and do not intend
to pay such dividends in the foreseeable future. We currently intend
to retain any earnings for the future operation and development
of our business, including exploration, development and acquisition
activities. Our credit facilities restrict our ability to pay dividends.
See “Management’s Discussion and Analysis of Financial Condition
and Results of Operations—Liquidity and Capital Resources.”
The following
graph presents a comparison of the yearly percentage change in the
cumulative total return on the Common Stock over the period from
December 31, 2001 to December 31, 2006, with the cumulative total
return of the S&P 500 Index and the American Stock Exchange Natural
Resources Industry Index of publicly traded companies over the same
period. The graph assumes that $100 was invested on December 31,
2001 in our common stock at the closing market price at the beginning
of this period and in each of the other two indices and the reinvestment
of all dividends, if any.
The graph is
presented in accordance with requirements of the Securities and
Exchange Commission. Shareholders are cautioned against drawing
any conclusions from the date contained therein, as past results
are not necessarily indicative of future financial performance.
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