Ann: Monthly Operations Report , page-2

Operationally, RFE appears to be performing well aggressively adding wells.

My observations:

- We appear to be well ahead on CY2013 forecast for accumulated gross wells (53). Looks like 60+ gross wells at end of CY2013, which will add significantly to our reserves and revenues against forecast (at the expense of cash flow)

- There are 9 wells in stimulation this month (compared to 5 last month).

- More non operated wells coming online

- Potential efficiency gains moving forward with extended reach wells

Operationally, I am happy. I just hope we can get some greater transparency into cashflow management of RFE moving into 2014, so that the risk / fear on this stock can be more rationally measured.