As a Trust, Trilogy’s strategy was to maintain a stable production profile and replace produced reserves year over year. By focusing exploitation efforts on high working interest assets with multi-zone development potential, Trilogy was able to control costs and risk, while maintaining operational control over the assets. During this period of commodity price volatility and economic uncertainty, we were able to control capital spending to provide our unitholders with attractive metrics that demonstrate Trilogy’s ability to replace production declines and produced reserves. In 2010, as Trilogy emerges as a growth oriented oil and gas production company, we will reinvest a larger portion of the annual cash flow back into the asset base to increase value for the shareholders.
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