Average production for the first quarter of 2012 was approximately 2,000 boe/d a 16% increase from the fourth quarter of 2011. The Company is forecasting second quarter production will average between 1,900 boe/d and 2,100 boe/d.
The Company's contracted drilling rig is presently in the shop being recertified with the window provided by spring breakup. Drilling operations are expected to resume late June or early July. Given the current natural gas price environment the Company will execute a capital plan for the remainder of 2012 that is focused on oil targets and funded with cash flow.