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COPYRIGHT 2005 Hart Publications, Inc.
Oil and Gas Investor: Describe the strategy that drives your company.
Johnson: Our strategy is based on exploring for natural gas in the onshore Gulf Coast and in the Barnett Shale play of north central Texas trying to find gas using new technology.
OGI: Please give more detail on your core production areas.
Johnson: Those two areas are where we produce almost all of our production. Right now, the Gulf Coast produces about 80% of our production and the Barnett about 20%, although that's probably going to be closer to 50-50 next year.
OGI: Why the shift?
Johnson: We didn't get active in the Barnett until early 2003, and now we have equal drilling programs of about $38 million in each area. The Barnett production will quickly grow to a level where we think it will be equal to the Gulf Coast.
OGI: Would you like to, or do you anticipate, expanding to other core production areas this year?
Johnson: We are currently looking at some other shale plays. We are also looking at, and have generated, some prospects in the North Sea, although we don't see ourselves putting any significant development capital into those projects in the near term.
OGI: The "near-term"...
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