Company Description (as filed with the SEC)
We are an independent oil and gas exploration and production company with production, appraisal, and exploration activities in Poland. We also have modest oil production and oilfield service activities in the United States, where we have conducted limited exploration during 2012. Our headquarters are in Salt Lake City, Utah, and our Polish operations are headquartered in Warsaw. Definitions of certain oil and gas industry terms used in this report are provided below under Item 2, Properties – Oil and Gas Terms. At year-end 2012, independent reserve engineers estimated our worldwide proved oil and gas reserves to be 44.1 billion cubic feet, or Bcf, of natural gas and 0.6 million barrels of oil, or Bbl, or a combined total of 47.7 billion cubic feet of natural gas equivalent, or Bcfe (converting oil to gas at a ratio of one barrel of oil to 6,000 cubic feet of natural gas). Of this 47.7 Bcfe, 93% was in Poland and 7% was in the United States. ... More ...