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COPYRIGHT 2005 Hart Publications, Inc.
Oil and Gas Investor: Describe the strategy that drives your company.
Barrett: Our strategy is to assemble, evaluate and develop high-quality oil and gas projects in the Rockies, which, in turn, generate sustainable long-term growth. We focus primarily on natural gas, though we will definitely take advantage of oil opportunities. We're one of the few true exploration companies and focus on the Rockies exclusively.
Our objective is to apply our experience base and emerging technologies to exploit as much of those reserves as we can. If you're going to be a premier E&P company in the Rockies, which is what we believe we're building here, you need land exposure, growth visibility, balance of exploration and development projects, and you certainly need an understanding of the technology to unlock those gas reserves. We have over 24 different exploration projects in 10 different basins. We've assembled a multi-year, low-risk development inventory in five basins where we have over 2,400 identified locations in our inventory. We have proved, possible and probable reserves in that development inventory of over i trillion cubic feet equivalent of gas. Roughly 70% of our exploration projects are weighted toward unconventional-type plays. Once established, these plays have the potential to be very low-risk, repeatable, long-lived development programs with very large reserves.
When you apply our management experience to our low-risk development...
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