Since new management took over the company in June of 2016, we have had an exceptional track record in drilling and operating. Since June of 2016, we have AFE'd $_______million worth of drilling and we have spent $________million.

That is only half of the story, however, as our drilling costs are about _________% below industry. Take a look at the chart below; we have highlighted drilling days from spud to logs on the bank. We have compared Paleo drilling days in yellow to industry days in red, for similar wells in the same area. As rig day rates are a large percentage of total daily costs, less drilling days reflects a significant savings for a Paleo operated well relative to industry.

Insert Chart Here

 
 

Over the same time period we have had an exceptional track record of growth in production from drilling and operating.

The Chart below reflects our gross production growth:

Insert Chart Here