Not surprised - The Company, however, anticipates that total revenues and income from operations for the quarter ended March 31, 2016 will be significantly lower than the
quarter ended March 31, 2015, as a result of significantly lower commodity prices, as well as a decline in total production of approximately 30 percent from the
corresponding period in 2015. Further, as a result of significantly decreased oil prices, the Company incurred a full cost ceiling impairment charge of $108.4
million for the quarter ended March 31, 2016.
The foregoing statements are based on our current expectations as of the date of this filing and involve a number of risks and uncertainties which may cause actual
results to differ and may be beyond our control, as discussed further below.
