Production (growth) will be (relatively) flat but...the increase in revenue will come from rising oil prices.

We will start pumping oil by the end of 2007, with production of at least 30,000 barrels per day (bpd).

Instead, we get up to 50 million barrels of oil.

We will be aggressive in exploration, but it depends on rig supply.

Reserves may reach more than 300 million barrels, but we must be conservative with our estimate.

It's inevitable that the surge in oil prices we're seeing now will eventually affect growth. The production report does raise concern that a recovery will be delayed a bit.