The Company directs over 95% of its total capital expenditures to exploration, development and production activities. Over the last few years, the majority of spending has shifted from producing fields to development projects as we build a platform for long-term profitable growth. We continue to fund key development projects which are adding new production, and lengthening reserve life. These new projects, together with positive results from our high impact exploration program, are expected to add significant resources to our existing proven reserve base of 1.2 billion barrels.