Ann: 2P oil reserves upgraded by 4.5 mmbbls to 13.3 mmbbls, page-23

Yes, the problem with comparing to previous years' production is it's coming off such a low base that any percentage increase is going to look stunning. The point is the trend is unsustainable from these small fields and we are starting to see that. It's kind of like that Simpsons episode where Disco Stu is trying to get Homer to invest in Disco.

"Did you know that Disco sales were up 400% for the year ending 1976? If these trends continue... AYYYY!"

SXY had a year of mostly development drilling yet were still unable to significantly increase production. The upcoming year is a year of exploration so hopefully they find some big successes, because they need them. Otherwise this production is going to decline at a rate that's going to come as a nasty surprise to some people.

I'm starting to get concerned about this cash burn too. Not sure how a supposedly profitable company can be losing $15M a quarter (previously $30M a quarter). It's been masked to some extent on the balance sheet up to now by the selling of Cuisinier but that's just a case of killing the goose that lays the golden eggs. They got the cash up front but now each quarter's production is lacking Cuisinier's contribution.