Website: N/A
Stock Symbol: NASDAQ: WRES
Market Value: N/A (in millions)
The following table presents our estimated proved natural gas and oil reserves
and the PV-10 value of our interests in net reserves in producing properties as
of December 31, 2004, 2003 and 2002 based on reserve reports prepared by
Williamson Petroleum Consultants. The PV-10 values shown in the table are not
intended to represent the current market value of the estimated natural gas and
oil reserves we own.
A significant portion of our proved developed reserves has been accumulated
through our interests in the drilling programs for which we serve as managing
general partner. The estimates of future net cash flows and their present
values, based on period end prices, are based upon certain assumptions of the
drilling programs in which we own interests will achieve payout status in the
future. As of December 31, 2004, none of the active 22 drilling programs managed
by us had achieved payout status.