Class		Outstanding at June 30, 2002
$.01 par value		9,401,855

		June 30, 2002				December 31, 2001
		(000’s) except share data
Assets
Current Assets:
Cash and cash equivalents		$	2,050			$	12,659
Restricted cash			495				—
Accounts receivable			15,132				14,281
Inventories			570				555
Fair value of derivatives			—				1,346
Prepaid expenses			3,288				3,143
Total current assets			21,535				31,984
Property and Equipment, at cost:
Oil and gas properties (successful efforts method)			377,785				343,623
Other properties			3,921				4,023
			381,706				347,646
Accumulated depreciation, depletion and amortization			(139,024	)			(123,982	)
Net property and equipment			242,682				223,664
Other Assets			2,823				3,142
		$	267,040			$	258,790
Liabilities and Stockholders’ Equity
Current Liabilities:
Accounts payable		$	22,226			$	11,685
Fair value of derivatives			5,737				946
Dividends payable			436				221
Accrued liabilities			7,053				6,655
Total current liabilities			35,452				19,507
Long-term Debt			151,960				143,463
Deferred Income Taxes			9,790				11,110
Stockholders’ Equity:
Series C convertible preferred stock—$10 par value; 1,000,000 shares authorized; 1,000,000 shares issued and outstanding at $25 liquidation value per share			10,000				10,000
Common stock—$.01 par value; 30,000,000 shares authorized; shares issued – 9,625,959 at June 30, 2002 and 9,466,920 at December 31, 2001; shares outstanding – 9,401,855 at June 30, 2002 and 9,283,295 at December 31, 2001			95				94
Preferred stock discount, net of $4,782,000 and $2,410,000 amortization at June 30, 2002 and December 31, 2001, respectively			(5,224	)			(7,596	)
Paid-in capital			56,101				55,887
Retained earnings			17,108				37,899
Accumulated other comprehensive income			(5,279	)			(8,611	)
Treasury stock; 224,104 shares, at cost			(2,963	)			(2,963	)
Total stockholders’ equity			69,838				84,710
		$	267,040			$	258,790

		For the Three Months Ended June 30,								For the Six Months Ended June 30,
		2002				2001				2002				2001
		(000’s except per share data)
Revenues:
Oil and gas sales		$	19,364			$	20,407			$	33,721			$	44,236
Gain (loss) on sale of property			(26	)			8,296				494				8,296
Gain on derivatives			289				—				—				—
Interest and other income			(21	)			779				139				1,449
			19,606				29,482				34,354				53,981
Costs and Expenses:
Production and operating			6,394				7,472				13,468				14,361
Depreciation, depletion and amortization			7,004				4,605				12,924				8,796
Loss on derivatives			—				—				7,321				—
Exploration			5,870				1,657				7,960				3,904
General and administrative			2,534				2,006				4,969				3,924
Interest expense			3,527				3,322				7,038				6,480
			25,329				19,062				53,680				37,465
Earnings (Loss) Before Income Taxes			(5,723	)			10,420				(19,326	)			16,516
Income Tax Benefit (Expense)			729				(189	)			1,774				(189	)
Net Income (Loss)		$	(4,994	)		$	10,231			$	(17,552	)		$	16,327
Earnings (Loss) Per Share:
Basic		$	(0.72	)		$	1.05			$	(2.24	)		$	1.69
Diluted		$	(0.72	)		$	0.75			$	(2.24	)		$	1.23

		Shares			Amount
		(000’s)
Series C convertible preferred stock, $10 par value
Balance at beginning and end of period		1,000			$	10,000
Common stock, $0.01 par value:
Balance at beginning of period		9,467				94
Issuance of common stock		159				1
Balance at end of period		9,626				95
Preferred stock discount:
Balance at beginning of period						(7,596	)
Amortization of preferred stock discount						2,372
Balance at end of period						(5,224	)
Paid-in capital:
Balance at beginning of period						55,887
Issuance of common stock						214
Balance at end of period						56,101
Retained earnings:
Balance at beginning of period						37,899
Net loss						(17,552	)
Dividends on preferred stock						(867	)
Amortization of preferred stock discount						(2,372	)
Balance at end of period						17,108
Accumulated other comprehensive income:
Balance at beginning of period						(8,611	)
Foreign currency translation adjustment						4,062
Amortization of derivative fair value						(730	)
Balance at end of period						(5,279	)
Treasury stock:
Balance at beginning and end of period		(224	)			(2,963	)
Total Stockholders’ Equity		9,402			$	69,838
Net loss					$	(17,552	)
Foreign currency translation