0001144204-14-068772.txt : 20141114 0001144204-14-068772.hdr.sgml : 20141114 20141114161021 ACCESSION NUMBER: 0001144204-14-068772 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20140930 FILED AS OF DATE: 20141114 DATE AS OF CHANGE: 20141114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EnerJex Resources, Inc. CENTRAL INDEX KEY: 0000008504 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 880422242 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-36492 FILM NUMBER: 141224188 BUSINESS ADDRESS: STREET 1: 4040 BROADWAY, SUITE 508 CITY: SAN ANTONIO STATE: TX ZIP: 78209 BUSINESS PHONE: 210-451-5545 MAIL ADDRESS: STREET 1: 4040 BROADWAY, SUITE 508 CITY: SAN ANTONIO STATE: TX ZIP: 78209 FORMER COMPANY: FORMER CONFORMED NAME: MILLENNIUM PLASTICS CORP DATE OF NAME CHANGE: 20000525 FORMER COMPANY: FORMER CONFORMED NAME: AURORA CORP DATE OF NAME CHANGE: 19990825 10-Q 1 v392167_10q.htm QUARTERLY REPORT

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

FORM 10-Q

 

þ       QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2014

 

¨       TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Commission file number 000-30234

 

 

ENERJEX RESOURCES, INC.

 

(Exact name of registrant as specified in its charter)

 

Nevada   88-0422242  
(State or other jurisdiction of incorporation or
organization)
  (I.R.S. Employer Identification No.)  

 

4040 Broadway      
Suite 508      
San Antonio, Texas   78209  
(Address of principal executive offices)   (Zip Code)  

 

(210) 451-5545
(Registrant's telephone number, including area code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes       þ        No      ¨

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes   þ        No   ¨

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer  ¨ Accelerated filer  ¨  
     
Non-accelerated filer  ¨  (Do not check if a smaller reporting company) Smaller reporting company  þ  

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes   ¨      No   þ

 

The number of shares of Common Stock, $0.001 par value, outstanding on November 14, 2014 was 7,643,114 shares.

 

 
 

 

ENERJEX RESOURCES, INC.

FORM 10-Q

TABLE OF CONTENTS

 

    Page
PART I     FINANCIAL INFORMATION  
ITEM 1. FINANCIAL STATEMENTS 2
  Condensed Consolidated Balance Sheets at September 30, 2014 (Unaudited) and December 31, 2013 2
  Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2014 and 2013 (Unaudited) 3
  Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2014 and 2013 (Unaudited) 4
  Notes to Condensed Consolidated Financial Statements 5
  FORWARD-LOOKING STATEMENTS 10
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 11
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 17
ITEM 4. CONTROLS AND PROCEDURES 17
     
PART II    OTHER INFORMATION  
ITEM 1. LEGAL PROCEEDINGS 17
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 18
ITEM 3. DEFAULTS UPON SENIOR SECURITIES 18
ITEM 4. (REMOVED AND RESERVED) 18
ITEM 5. OTHER INFORMATION 18
ITEM 6. EXHIBITS 18
     
SIGNATURES 20

 

1
 

 

PART 1 – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

EnerJex Resources, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets  

Unaudited 

    September 30,     December 31,  
    2014     2013  
Assets                
Current assets:                
Cash and cash equivalents   $

560,684

    $ 1,079,356  
Restricted cash     -       228,840  
Accounts receivable    

1,858,251

      2,461,746  
Inventory     264,001       238,794  
Marketable securities     1,018,673       1,018,573  
Deposits and prepaid expenses     522,829       373,994  
Total current assets    

4,224,438

      5,401,303  
                 
Non-current assets:                
Fixed assets, net of accumulated depreciation of $1,909,974 and $1,785,401     2,424,199       2,406,591  
Oil and gas properties using full-cost accounting, net of accumulated DD&A of $12,842,863 and $10,567,906    

63,299,218

      61,349,403  
Other non-current assets    

1,031,140

      834,180  
Total non-current assets     66,754,557       64,590,174  
Total assets   $

70,978,995

    $ 69,991,477  
                 
Liabilities and Stockholders' Equity                
Current liabilities:                
Accounts payable   $ 2,729,299     $ 2,424,009  
Accrued liabilities    

1,517,634

      3,070,461  
Derivative liability    

246,791

      1,011,708  
Total current liabilities    

4,493,724

      6,506,178  
                 
Asset retirement obligation     2,838,679       2,687,801  
Long-term debt     21,019,968       31,547,255  
Derivative liability     -       339,642  
Total non-current liabilities     23,858,647       34,574,698  
Total liabilities    

28,352,371

      41,080,876  
                 
Commitments & Contingencies                
Stockholders' Equity:                
10% Series A Cumulative Perpetual Preferred Stock, $0.001 par value, 25,000,000 shares authorized; 751,815 shares issued and outstanding at September 30, 2014     752       -  
Preferred stock, $0.001 par value, 25,000,000 shares authorized; 4,779,460 shares issued and outstanding at December 31, 2013     -       4,780  
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding 7,643,114 at September 30, 2014 and 7,281,158 at December 31, 2013     7,643       7,281  
Paid-in capital    

63,670,570

      49,913,535  
Accumulated other comprehensive income     (552,589 )     (552,589 )
Retained (deficit)    

(20,499,752

)     (20,462,406 )
Total stockholders' equity    

42,626,624

      28,910,601  
Total liabilities and stockholders' equity   $

70,978,995

    $ 69,991,477  

 

See Notes to Condensed Consolidated Financial Statements. 

 

2
 

 

EnerJex Resources, Inc. and Subsidiaries

Condensed Consolidated Statements of Operations

(Unaudited)

 

   For the Three Months Ended   For the Nine Months Ended 
   September 30,   September 30, 
   2014   2013   2014   2013 
                 
Oil revenues   $3,530,610   $2,694,506   $10,787,788   $7,228,543 
Natural gas revenues   280,078    -    827,273    - 
Total revenues    3,810,688    2,694,506    11,615,061    7,228,543 
                     
Expenses:                     
Direct operating costs    1,920,968    916,567    4,964,009    2,450,596 
Depreciation, depletion and amortization    899,177    484,478    2,495,317    1,347,576 
Professional fees    126,581    264,050    578,696    889,529 
Salaries    396,899    138,875    1,076,334    570,864 
Administrative expense    243,136    220,693    635,364    534,340 
Total expenses    3,586,761    2,024,663    9,749,720    5,792,905 

Income from operations

  $223,927   $669,843   $1,865,341   $1,435,638 
                     
Other income (expense):                     
Interest expense    (267,764)   (137,831)   (1,005,431)   (393,204)
Gain (loss) on derivatives    1,831,105    (1,160,374)   20,012    (992,556)
Other income (loss)    399    8,460    4,574    66,841 
Total other income (expense)    1,563,740    (1,289,745)   (980,845)   (1,318,919)
Net income (loss)   $1,787,667   $(619,902)  $884,496   $116,719 
                     
Net income (loss)   $1,787,667   $(619,902)  $884,496   $116,719 
Preferred dividends   $(522,398)  $(199,492)  $(1,378,135)  $(567,142)
Net income (loss) attributable to common stockholders    1,265,269    (819,394)   (493,639)   (450,423)
Net income (loss) per common share basic and diluted   $.17   $(.18)  $(.07)  $(.10)
Weighted average shares    7,642,748    4,534,550    7,426,949    4,522,468 

 

See Notes to Condensed Consolidated Financial Statements.

 

3
 

 

EnerJex Resources, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited) 

   For the Nine Months Ended 
   September 30, 
   2014   2013 
Cash flows from operating activities          
Net income (loss)  $884,496   $116,719 
Depreciation and depletion   2,495,317    1,347,576 
Stock, options and warrants issued for services   460,343    162,021 
Accretion of asset retirement obligation   191,348    84,578 
Settlements of asset retirement obligations   (90,524)   (36,758)
(Gain) loss on derivatives   (1,104,559)   67,748 
Loss on disposal of fixed assets   

181 

    7,785 
Changes in assets and liabilities:          
Accounts receivable   603,495    (137,386)
Inventory   (25,207)   (169,940)
Deposits and prepaid expenses   (206,638)   (187,477)
Accounts payable   305,290    (101,643)
Accrued liabilities   (1,096,538)   650,172 
Cash flows from operating activities   2,417,004    1,803,395 
           
Cash flows from investing activities          
Settlements of asset retirement obligations   -    (18,910)
Purchase of fixed assets   (238,148)   (103,874)
Additions to oil and gas properties   (5,162,656)   (4,962,813)
Proceeds from sale of oil and gas properties   987,939    454,973 
Proceeds from sale of fixed assets   -    1,600 
Net cash acquired from Black Raven   -    656,693 
Cash flows used in investing activities   (4,412,865)   (3,972,331)
           
Cash flows from financing activities          
Payments on long-term debt   (14,027,287)   - 
Payments on note payable   -    (600,000)
Deferred financing costs   (196,960)   (211,584)
Proceeds from borrowings   3,500,000    4,000,000 
Proceeds from sale of preferred stock   13,350,731    

-

 
Dividends paid on preferred stock   (1,378,135)   (567,143)
Cash flows from financing activities   1,248,349    2,621,273 
           
Net increase (decrease) in cash   (747,512)   452,337 
Cash – beginning   1,308,196    767,494 
Cash – ending  $560,684   $1,219,831 
           
Supplemental disclosures:          
Interest paid  $503,571   $212,751 
           
Non-cash transactions:          
Share based payments issued for services  $460,343   $162,021 

 

See Notes to Condensed Consolidated Financial Statements.

4
 

 

EnerJex Resources, Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements

 

Note 1 – Basis of Presentation

 

The unaudited condensed consolidated financial statements of EnerJex Resources, Inc. (“we”, “us”, “our”, “EnerJex” and “Company”) have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and reflect all adjustments which, in the opinion of management, are necessary for a fair presentation.  All such adjustments are of a normal recurring nature.  The results of operations for the interim period are not necessarily indicative of the results to be expected for a full year.  Certain amounts in the prior year statements have been reclassified to conform to the current year presentations.  The statements should be read in conjunction with the financial statements and footnotes thereto included in our Annual Report Form 10-K for the fiscal year ended December 31, 2013.

  

Our consolidated financial statements include the accounts of our wholly-owned subsidiaries, EnerJex Kansas, Inc., Black Sable Energy, LLC, Working Interest, LLC and Black Raven Energy, Inc. (“Black Raven”) for the three month and nine month periods ended September 30, 2014 and for the year ended December 31, 2013. On September 27, 2013, we acquired Black Raven. Accordingly, only the financial position, results of operations and cash flows of Black Raven for the quarter ended December 31, 2013 were included in the Company’s consolidated financial statements for the year ended December 31, 2013. All intercompany transactions and accounts have been eliminated in consolidation.

 

Note 2 - Stock Options

 

A summary of stock options is as follows:

 

   Options   Weighted
Average
Price
 
Outstanding December 31, 2013    231,133   $9.36 
Granted    2,367    10.50 
Cancelled    (2,168)   10.50 
Exercised    -    - 
Outstanding September 30, 2014    231,332   $9.33 

 

5
 

 

Note 3 – Fair Value Measurements

 

We hold certain financial assets which are required to be measured at fair value on a recurring basis in accordance with the Statement of Financial Accounting Standard No. 157, "Fair Value Measurements" ("ASC Topic 820-10"). ASC Topic 820-10 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). ASC Topic 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability. The three levels of the fair value hierarchy under ASC Topic 820-10 are described below:

 

Level 1. Valuations based on quoted prices in active markets for identical assets or liabilities that an entity has the ability to access. We believe our debt approximates fair value at September 30, 2014.

 

Level 2. Valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. We consider the derivative liability to be Level 2. We determine the fair value of the derivative liability utilizing various inputs, including NYMEX price quotations and contract terms.

 

 

Level 3. Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. We consider our marketable securities to be Level 3.

 

Our derivative instruments consist of variable to fixed price commodity swaps.

 

   Fair Value Measurement 
   Level 1   Level 2   Level 3 
Crude oil contracts  $-   $(240,131)  $- 
Marketable Securities  $-   $-   $

1,018,673

 

 

Note 4 - Asset Retirement Obligation

 

Our asset retirement obligations relate to the liabilities associated with the abandonment of oil and natural gas wells. The amounts recognized are based on numerous estimates and assumptions, including future retirement costs, inflation rates and credit adjusted risk-free interest rates. The following shows the changes in asset retirement obligations: 

 

Asset retirement obligations, December 31, 2013   $2,687,801 
Liabilities incurred during the period    50,054 
Liabilities settled during the period    (90,524)
Accretion    191,348 
Asset retirement obligations, September 30, 2014   $2,838,679 

 

6
 

 

Note 5 - Derivative Instruments

 

We have entered into certain derivative or physical arrangements with respect to portions of our crude oil production to reduce our sensitivity to volatile commodity prices and/or to meet hedging requirements under our Credit Facility. We believe that these derivative arrangements, although not free of risk, allow us to achieve a more predictable cash flow and to reduce exposure to commodity price fluctuations. However, derivative arrangements limit the benefit of increases in the prices of crude oil. Moreover, our derivative arrangements apply only to a portion of our production.

 

 

We have an Intercreditor Agreement in place between us, our counterparties, BP Corporation North America, Inc. (BP), Cargill, Inc. and our agent Texas Capital Bank, N.A., which allows Texas Capital Bank to also act as agent for the counterparties for the purpose of holding and enforcing any liens or security interests resulting from our derivative arrangements. Therefore, we are not required to post additional collateral, including cash.

 

The following derivative contracts were in place at September 30, 2014:

 

   Term  Monthly Volumes  Price/Bbl   Fair Value 
Deferred premium put   1/16-6/16  9,000 Bbls  $85.00   $39,681 
Crude oil swap   1/15-12/15  5,800 Bbls  $88.55    54,288 
Crude oil swap   9/13-12/14  3,000 Bbls  $95.15    44,460 
Crude oil swap   7/11-12/15  2,850 Bbls  $83.70    (190,463)
Crude oil collar   1/14-12/14  1,900 Bbls  $96.00    33,003 
Crude oil swap   7/12-12/15  1,240 Bbls  $76.74    (221,262)
Crude oil swap   1/14-12/14  1,380 Bbls  $90.25    162 
              $(240,131)

 

Monthly volume is the weighted average throughout the period.

 

The current fair value is shown as a derivative instrument in the current liabilities and the long term fair value is included in other long term assets on the balance sheet.

 

Note 6 - Long-Term Debt

 

Senior Secured Credit Facility

 

On October 3, 2011, the Company, EnerJex Kansas, Inc., Black Sable Energy, LLC and Working Interest, LLC ("Borrowers") entered into an Amended and Restated Credit Agreement with Texas Capital Bank, N.A. (the “Bank”) and other financial institutions and banks that may become a party to the Credit Agreement from time to time. The facilities provided under the Amended and Restated Credit Agreement were used to refinance Borrowers’ prior outstanding revolving loan facility with Bank, dated July 3, 2008, and for working capital and general corporate purposes. 

 

At our option, loans under the facility will bear stated interest based on the Base Rate plus Base Rate Margin, or Floating Rate plus Floating Rate Margin (as those terms are defined in the Credit Agreement). The Base Rate will be, for any day, a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate plus 0.50% and (b) the Bank's prime rate. The Floating Rate shall mean, at Borrower's option, a per annum interest rate equal to (i) the Eurodollar Rate plus Eurodollar Margin, or (ii) the Base Rate plus Base Rate Margin (as those terms are defined in the Amended and Restated Credit Agreement). Eurodollar borrowings may be for one, two, three, or six months, as selected by the Borrowers. The margins for all loans are based on a pricing grid ranging from 0.00% to 0.75% for the Base Rate Margin and 2.25% to 3.00% for the Floating Rate Margin based on the Company's Borrowing Base Utilization Percentage (as defined in the Amended and Restated Credit Agreement). 

 

On December 15, 2011, we entered into a First Amendment to Amended and Restated Credit Agreement and Second Amended and Restated Promissory Note in the amount of $50,000,000 with the Bank. The Amendment reflected the addition of Rantoul Partners as an additional Borrower and added as additional security for the loans the assets held by Rantoul Partners. 

 

On August 31, 2012, we entered into a Second Amendment to Amended and Restated Credit Agreement with the Bank. The Second Amendment: (i) increased our borrowing base to $7,000,000, (ii) reduced the minimum interest rate to 3.75%, and (iii) added additional new leases as collateral for the loan. 

 

7
 

 

On November 2, 2012, we entered into a Third Amendment to Amended and Restated Credit Agreement with the Bank. The Third Amendment (i) increased our borrowing base to $12,150,000, and (ii) clarified certain continuing covenants and provided a limited waiver of compliance with one of the covenants so clarified for the quarter ended December 31, 2011. 

 

On January 24, 2013, we entered into a Fourth Amendment to Amended and Restated Credit Agreement, which was made effective as of December 31, 2012 with the Bank.  The Fourth Amendment reflects the following changes: (i) the Bank consented to the restructuring transactions related to the dissolution of Rantoul Partners, and (ii) the Bank terminated a Limited Guaranty, as defined in the Credit Agreement, executed by Rantoul Partners in favor of the Bank. 

 

On April 16, 2013, the Bank increased our borrowing base to $19.5 million. 

 

On September 30, 2013, we entered into a Fifth Amendment to the Amended and Restated Credit Agreement.  The Fifth Amendment reflects the following changes:  (i) an expanded principal commitment amount of the Bank to $100,000,000, (ii) an increase in our Borrowing Base to $38,000,000, (iii) the addition of Black Raven Energy, Inc. to the Credit Agreement as a borrower party, (iv) the addition of certain collateral and security interests in favor of the Bank, and (v) the reduction of our current interest rate to 3.30%.   

 

On November 19, 2013, we entered into a Sixth Amendment to the Amended and Restated Credit Agreement. The Sixth Amendment reflects the following changes: (i) the addition of Iberia Bank as a participant in our credit facility, and (ii) a technical correction to our covenant calculations.

 

On May 22, 2014, we entered into a Seventh Amendment to the Amended and Restated Credit Agreement. The Seventh Amendment reflects the Bank’s consent to our issuance of up to 850,000 shares of our 10% Series A Cumulative Perpetual Preferred Stock.

 

On August 15, 2014, we entered into an Eighth Amendment to the Amended and Restated Credit Agreement. The Eighth Amendment reflects the following changes: (i) the borrowing base was increased from $38 million to $40 million, and (ii) the maturity of the facility was extended by three years to October 3, 2018

 

Our current borrowing base is $40 million, of which we had borrowed $21 million as of September 30, 2014. We intend to conduct an additional borrowing base review in early 2015. For the nine month period ended September 30, 2014, and for the year ended December 31, 2013, the interest rate on amounts borrowed under our credit facility was 3.3%. This facility expires on October 3, 2018. 

 

Note 7 - Commitments & Contingencies

 

As of September 30, 2014, we had an outstanding irrevocable letter of credit in the amount of $50,000 issued in favor of the Texas Railroad Commission. The letter of credit is required by the Texas Railroad Commission for all companies operating in the state of Texas with production greater than limits they prescribe.

 

Rent expense for the nine months ended September 30, 2014 and 2013 was approximately $123,000 and $126,000 respectively. Future non-cancellable minimum lease payments are approximately $40,000 for the remainder of 2014, $154,000 for 2015, $147,000 for 2016, $145,000 for 2017, $90,000 for 2018 and $77,000 for 2019. 

 

Note 8 – Equity Transactions

 

On January 15, 2014, 7,333 shares were issued to two employees of the Company as compensation. The share price on the issue date was $7.05. From February 5, 2014 through March 17, 2014, 9,595 shares were issued for professional services rendered on behalf of the Company. The share price on all issuance dates for those shares was $7.50.

 

Effective after the close of trading in EnerJex common stock on May 30, 2014, the Company affected a 1-for-15 reverse stock split, by which each share of EnerJex common stock was reclassified, and changed into 1/15th of a fully paid and non-assessable share of common stock. In lieu of fractions of a share, the Company paid to holders of fractions of a share cash equal to $11.25 per share, which was the minimum value designated in the amended and restated certificate of designations affecting the reverse stock split.

 

On June 16, 2014, we adopted the Amended and Restated Certificate of Designation modifying the terms of our then-existing Series A preferred stock. Concurrently with filing of that Amended and Restated Certificate of Designation, the holders of our existing Series A preferred stock exchanged each outstanding share of such existing Series A preferred stock for (i) a number of shares of our common stock into which such Series A preferred stock was then convertible immediately prior to the exchange (318,630 shares in the aggregate), and (ii) a number of shares of Series A preferred stock equal to the quotient determined by dividing (x) that portion of the holder's original Series A preferred stock purchase price that had not yet been paid in dividends, by (y) $23.75.

 

On June 20, 2014, we closed an underwritten initial public offering of 639,157 shares of our Series A preferred stock at a purchase price of $23.75 per share for gross proceeds of $15.2 million. The shares sold to the underwriters included 83,368 shares pursuant to a 45-day option that was exercised by the underwriters in full on June 20, 2014.

 

8
 

 

Note 9 - Subsequent Events  

 

We have reviewed all material events through the date of this report in accordance with ASC 855-10.

 

On October 14, 2014, the Company acquired a 100% working interest in leases covering 3,400 mineral acres in Weld County, Colorado for approximately $300,000. This acreage is prospective for horizontal drilling targeting oil production from the Niobrara and Codell formations and has a remaining term of approximately 4 years. 

 

On October 15, 2014, the Company appointed Kent Roach, whose employment began on October 20, 2014, as the company’s Executive Vice President of Engineering.

 

On October 31, 2014, the Company paid a dividend of approximately $156,000 on our 10% Series A Cumulative Perpetual Preferred Stock to shareholders of record at the close of business on October 15, 2014. The dividend was for the period beginning October 1, 2014 through October 31, 2014.

 

On November 4, 2014, the Company declared a dividend of approximately $156,000 on our 10% Series A Cumulative Perpetual Preferred Stock to be paid on December 1, 2014 to shareholders of record at the close of business on November 14, 2014. The dividend is for the period beginning of November 1, 2014 through November 30, 2014.

 

9
 

 

FORWARD-LOOKING STATEMENTS

 

This report contains forward-looking statements. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control. All statements, other than statements of historical fact, contained in this report, including statements regarding future events, our future financial performance, business strategy and plans and objectives of management for future operations, are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," or "should" or the negative of these terms or other comparable terminology. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including the risks outlined under "Risk Factors" or elsewhere in this report, which may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time and it is not possible for us to predict all risk factors, nor can we address the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause our actual results to differ materially from those contained in any forward-looking statements. The factors impacting these risks and uncertainties include, but are not limited to:

 

  · inability to attract and obtain additional development capital;
  · inability to achieve sufficient future sales levels or other operating results;
  · inability to efficiently manage our operations;
  · effect of our hedging strategies on our results of operations;
  · potential default under our secured obligations or material debt agreements;
  · estimated quantities and quality of oil reserves;
  · declining local, national and worldwide economic conditions;
  · fluctuations in the price of oil;
  · continued weather conditions that impact our abilities to efficiently manage our drilling and development activities;
  · the inability of management to effectively implement our strategies and business plans;
  · approval of certain parts of our operations by state regulators;
  · inability to hire or retain sufficient qualified operating field personnel;
  · increases in interest rates or our cost of borrowing;
  · deterioration in general or regional economic conditions;
  · adverse state or federal legislation or regulation that increases the costs of compliance, or adverse findings by a regulator with respect to existing operations;
  · the occurrence of natural disasters, unforeseen weather conditions, or other events or circumstances that could impact our operations or could impact the operations of companies or contractors we depend upon in our operations;
  · inability to acquire mineral leases at a favorable economic value that will allow us to expand our development efforts;
  · adverse state or federal legislation or regulation that increases the costs of compliance, or adverse findings by a regulator with respect to existing operations; and
  · changes in U.S. GAAP or in the legal, regulatory and legislative environments in the markets in which we operate.

 

You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this report. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this report to conform our statements to actual results or changed expectations. For a detailed description of these and other factors that could cause actual results to differ materially from those expressed in any forward-looking statement, please see "Risk Factors" in this document and in our Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

 

All references in this report to "we," "us," "our," "company" and "EnerJex" refer to EnerJex Resources, Inc. and our wholly-owned operating subsidiaries, EnerJex Kansas, Inc., Black Sable Energy, LLC, Working Interest, LLC, and Black Raven Energy, Inc. unless the context requires otherwise. We report our financial information on the basis of a December 31st fiscal year end.

 

10
 

 

AVAILABLE INFORMATION

 

We file annual, quarterly and other reports and other information with the SEC.  You can read these SEC filings and reports over the Internet at the SEC's website at www.sec.gov or on our website at www.enerjexresources.com.  You can also obtain copies of the documents at prescribed rates by writing to the Public Reference Section of the SEC at 100 F Street, NE, Washington, DC 20549 on official business days between the hours of 10:00 am and 3:00 pm.  Please call the SEC at (800) SEC-0330 for further information on the operations of the public reference facilities. We will provide a copy of our annual report to security holders, including audited financial statements, at no charge upon receipt to of a written request to us at EnerJex Resources, Inc., 4040 Broadway, Suite 508, San Antonio, Texas 78209.

   

INDUSTRY AND MARKET DATA

 

The market data and certain other statistical information used throughout this report are based on independent industry publications, government publications, reports by market research firms or other published independent sources. In addition, some data are based on our good faith estimates.

 

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

 

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes to our financial statements included elsewhere in this report. In addition to historical financial information, the following discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results and timing of selected events may differ materially from those anticipated in these forward-looking statements as a result of many factors, including those discussed under ITEM 1A. Risk Factors and elsewhere in this report.

 

Overview

 

Our principal strategy is to acquire, develop, explore and produce domestic onshore oil properties. Our business activities are currently focused in Kansas, Colorado, Nebraska and Texas.

 

We continue to investigate multiple opportunities to both unlock value and accelerate growth in an accretive manner on behalf of shareholders, including but not limited to mergers, acquisitions, joint ventures, and non-dilutive financings. There can be no assurance of the results or timing associated with this process.

 

We are focusing our capital budget on the development of our Colorado and Kansas properties where we have identified hundreds of drilling locations and reactivation or recompletion opportunities.

 

Recent Developments

 

The following is a brief description of our most significant corporate developments that have occurred since the end of 2013:

 

  ·

In our Adena Field Project, we reactivated and initiated production from 7 new J-Sand oil wells and 1 new J-Sand natural gas well, recompleted and initiated water injection into 4 new secondary recovery J-Sand wells, and recompleted 2 D-sand oil wells in a secondary recovery waterflood pilot that was initiated during 2013. Preliminary production tests in this D-Sand waterflood pilot indicate that secondary recovery operations have increased reservoir pressure, fluid volumes and oil cut. Initial oil production from this pilot commenced in September 2014.

 

During June and July 2014, we conducted detailed production tests on our J-Sand oil wells in order to measure oil and water volumes. Data collected from these testing operations is being utilized to optimize field operations and future development planning. The testing process resulted in inefficient run times that negatively impacted production volumes during these months.  After reviewing the results of the testing information and experiencing water injection and other infrastructure constraints, EnerJex decided to upgrade its infrastructure in order to increase production capacity and decrease operating expenses.  The company is currently replacing key portions of the primary production infrastructure and reconfiguring the water injection system to handle additional production volumes. 

 

·

In our Mississippian Project, we initiated a development drilling program in July and have since drilled ten successful oil wells, six of which are currently awaiting completion, and one secondary recovery water injection well.

 

  · In our Niobrara Project, we successfully completed workover operations on eight natural gas wells. In addition we tested two wells located approximately one mile apart in a portion of our Niobrara Project located in Sedgwick County, Colorado. Each well achieved an initial production rate of more than 600 thousand cubic feet of natural gas (Mcf) per day from the Niobrara formation at a depth of approximately 2,900 feet.

 

The Company has filed 17 drilling permits in in this area, where we have identified dozens of high-ranked drilling locations based on 3D seismic analysis. We have completed our assessment of the costs and timing associated with this development, including drilling and completion operations, pipeline construction, and the upgrade of an existing tap which the Company previously acquired that connects to the Trailblazer pipeline. We are currently waiting on a third party to complete the upgrade of the tap which we paid for during September. We expect to have the tap upgrade completed and all permits finalized for the 17 well drilling program by the first quarter of 2015. 

 

  · Effective after the close of trading in EnerJex common stock on May 30, 2014, the Company affected a 1-for-15 reverse stock split, by which each share of EnerJex common stock was reclassified, and changed into 1/15th of a fully paid and non-assessable share of common stock. In lieu of fractions of a share, the Company paid to holders of fractions of a share cash equal to $11.25 per share, which was the minimum value designated in the amended and restated certificate of designations affecting the reverse stock split.

  

  · On June 16, 2014, we adopted the Amended and Restated Certificate of Designation modifying the terms of our then-existing Series A preferred stock. Concurrently with filing of that Amended and Restated Certificate of Designation, the holders of our existing Series A preferred stock exchanged each outstanding share of such existing Series A preferred stock for (i) a number of shares of our common stock into which such Series A preferred stock was then convertible immediately prior to the exchange (318,630 shares in the aggregate), and (ii) a number of shares of Series A preferred stock equal to the quotient determined by dividing (x) that portion of the holder's original Series A preferred stock purchase price that had not yet been paid in dividends, by (y) $23.75.

 

  · On June 17, 2014 our common stock and non-dilutive Series A Cumulative Perpetual Preferred Stock began trading on the NYSE MKT under the symbols ENRJ and ENRJPR. The Company’s common stock prior to June 17, 2014 traded on the OTCQB.

 

11
 

 

  · On June 20, 2014, we closed an underwritten public offering of 639,157 shares of 10% Series A Cumulative Perpetual Preferred Stock (liquidation preference of $25.00 per share) at a price to the public of $23.75 per share for gross proceeds of $15.2 million. The shares sold to the underwriters included 83,368 shares pursuant to a 45-day option that was exercised by the underwriters in full on June 20, 2014. The Series A Preferred Shares contain the following provisions: (i) Series A Preferred Shareholders shall receive cumulative dividends at the stated rate of 10% per annum of the $25.00 per share liquidation preference; (ii) the Series A Preferred Shares shall not be redeemable by the Company except on or after June 16, 2017 or after a Change of Control of the Company; (iii) the Series A Preferred Shares shall not have any relative, participating, option or other voting rights or powers: and (iv) the Series A Preferred Shares shall not be convertible into our common stock.

 

  · On September 30, 2014, we acquired an 85% operated working interest in 640 acres in Weld County, Colorado.  This acreage is held by production from three existing wells including two wells that produce oil from the Niobrara and Codell formations and one well that produces oil from the J-Sand formation. This acreage is prospective for horizontal drilling targeting oil production from the Niobrara and Codell formations.

 

Net Production, Average Sales Price and Average Production and Lifting Costs

 

The table below sets forth our net oil production (net of all royalties, overriding royalties and production due to others), the average sales prices, average production costs and direct lifting costs per unit of production for the periods ended September 30, 2014 and September 30, 2013.

 

   For the Three Months Ended   For the Nine Months Ended 
   September 30,   September 30, 
   2014   2013   2014   2013 
                 
Net Production                    
Oil (Bbl)   40,477    25,933    118,023    76,327 
Natural gas (Mcf)   103,664    -    251,127    - 
                     
Average Sales Prices                    
Oil (Bbl)  $87.23   $103.90   $91.40   $94.70 
Natural gas (Mcf)  $2.70   $-   $3.95   $- 
                     
Average Production Cost (1)                    
Per barrel of oil equivalent (“Boe”)  $48.83   $54.03   $46.66   $49.76 
                     
Average Lifting Costs (2)                    
Per Boe  $33.26   $35.34   $31.05   $31.11 

 

(1) Production costs include all operating expenses, transportation expenses, depreciation, depletion and amortization, lease operating expenses and all associated taxes. Impairment of oil properties is not included in production costs.
(2) Direct lifting costs do not include impairment expense or depreciation, depletion and amortization.

 

12
 

 

Results of Operations for the Three and Nine Months Ended September 30, 2014 and 2013 compared

 

Revenues:

 

    Three Months Ended     Increase /     Nine Months Ended     Increase /  
    September 30,     (Decrease)     September 30,     (Decrease)  
    2014     2013           2014     2013        
Oil revenues   $ 3,530,610     $ 2,694,506     $ 836,104     $ 10,787,788     $ 7,228,543     $ 3,559,245  
Natural gas revenues     280,078       -       280,078       827,273       -       827,273  
Total revenues    $ 3,810,688      $ 2,694,506      $ 1,116,182     11,615,061      $ 7,228,543      $ 4,386,518  

  

Oil Revenues

 

Oil revenues for the nine months ended September 30, 2014 were $10,787,788 compared to revenues of $7,228,543 for the nine months ended September 30, 2013. Revenues increased primarily as a result of higher oil production associated with the assets acquired via the Black Raven merger and were partially offset by lower oil prices.

 

Natural Gas Revenues

 

Natural gas revenues for the nine months ended September 30, 2014 were $827,273. Natural gas revenues increased as result of increased natural gas production from assets that were acquired as part of our merger with Black Raven on September 27, 2013.

 

Expenses:

 

   Three Months Ended   Increase /   Nine Months Ended   Increase / 
   September 30,   (Decrease)   September 30,   (Decrease) 
   2014   2013       2014   2013     
Production expenses:                              
Direct operating costs  $1,920,968   $916,567   $1,004,401   $4,964,009   $2,450,596   $2,513,413 
Depreciation, depletion and amortization   899,177    484,478    414,699    2,495,317    1,347,576    1,147,741 
Total production expenses   2,820,145    1,401,045    1,419,100    7,459,326    3,798,172    3,661,154 
                               
General expenses:                              
Professional fees   126,581    264,050    (137,469)   578,696    889,529    (310,833)
Salaries   396,899    138,875    258,024    1,076,334    570,864    505,470 
Administrative expense   243,136    220,693    22,443    635,364    534,340    101,024 
Total general expenses   766,616    623,618    142,998    2,290,394    1,994,733    295,661 
Total production and general expenses   3,586,761    2,024,663    1,562,098    9,749,720    5,792,905    3,956,815 
                               
Income (loss) from operations   223,927    669,843    (445,916)   1,865,341    1,435,638    429,703 
                               
Other income (expense)                              
Interest expense   (267,764)   (137,831)   (129,933)   (1,005,431)   (393,204)   (612,227)
Gain (loss) on derivatives   1,831,105    (1,160,374)   2,991,479    20,012    (992,556)   1,012,568 
Other income (loss)   399    8,460    (8,061)   4,574    66,841    (62,267)
Total other income (expense)   1,563,740    (1,289,745)   2,853,485    (980,845)   (1,318,919)   338,074 
                               
Net income (loss)  $1,787,667   $(619,902)  $2,407,569   $884,496   $116,719   $767,777 

  

13
 

 

Direct Operating Costs

 

Direct operating costs include direct labor and equipment costs related to pumping, gauging, pulling, well repairs, compression, transportation costs and general maintenance requirements in our oil and gas fields.   These costs also include certain contract labor costs, and other non-capitalized expenses. Direct operating costs for the nine months ended September 30, 2014 increased 103% to $4,964,009 from $2,450,596 for the nine months ended September 30, 2013.  However, direct operating costs per Boe decreased from $31.11 to $31.05. The $2,513,413 increase in direct operating costs is due primarily to new production associated with the assets acquired as part of our merger with Black Raven on September 27, 2013. 

 

Depreciation, Depletion and Amortization

 

 Depreciation, depletion and amortization for the nine months ended September 30, 2014 was $2,495,317 compared to $1,347,576 for the nine months ended September 30, 2013. The increase in depletion expense is due primarily to increased oil and natural gas production during the first nine months of 2014 compared to the first nine months of 2013. However, depletion expense per Boe decreased $2.05 or 12% in the first nine months of 2014 compared to the first nine months of 2013.

 

Professional Fees

 

Professional fees for the nine months ended September 30, 2014 were $578,696 compared to $889,529 for the nine months ended September 30, 2013. The decrease in professional fees is due primarily to a reduction in lawsuit related legal fees and a reduction in fees related to outsourced third party engineering and consulting work that we conducted during the first half of 2013.

 

Salaries

 

Salaries for the nine months ended September 30, 2014 were $1,076,334 compared to $570,864 for the nine months ended September 30, 2013.  The increase in salaries is due primarily to the addition of employees following our merger with Black Raven.

 

Administrative Expenses

 

 Administrative expenses for the nine months ended September 30, 2014 were $635,364 compared to $534,340 for the nine months ended September 30, 2013. The increase in administrative expenses is due primarily to the addition of employees, office space and the administrative costs associated with our merger with Black Raven on September 27, 2013

  

Interest Expense

 

Interest expense for the nine months ended September 30, 2014 was $1,005,431 compared to $393,204 for the nine months ended September 30, 2013. Interest expense and amortization of deferred financing costs increased as a result of increased borrowings. Proceeds from the Series A Preferred Stock offering June 20, 2014 were used to reduce outstanding borrowings on our line of credit with Texas Capital Bank. In addition, accretion increased due to assets acquired as part of our merger with Black Raven on September 27, 2013.

 

Gain (Loss) on Derivatives

 

We recorded an unrealized gain of $20,012 on our derivative contracts in the first nine months of 2014 compared to a loss of $992,556 for the nine months ended September 30, 2013. The gain was due primarily to the “mark to market” valuation of our derivative contracts at prices below our average hedge price. This gain was partially offset by the completion of contracts during the nine month period ending September 30, 2014 above our average contracted hedge prices.

 

Net Income (Loss)

 

Net income for the nine months ended September 30, 2014 was $884,496 compared to net income of $116,719 for the nine months ended September 30, 2013.  The increase in net income was due primarily to the increase in net operating income associated with our acquisition of Black Raven Energy, as well as hedging gains in 2014 versus hedging losses in 2013. Increases in net income were partially offset by increased interest expense associated with increased borrowings in 2014 versus 2013.

   

14
 

  

Liquidity and Capital Resources

 

Liquidity is a measure of a company's ability to meet potential cash requirements. We have historically met our capital requirements through debt financing, revenues from operations and the issuance of equity securities. We believe that our historical means of meeting our capital requirements will provide us with adequate liquidity to fund our operations and capital program in 2014.

 

The following table summarizes total current assets, total current liabilities and working capital.

 

   September 30,
2014
   December 31,
2013
   Increase /
(Decrease)
 
             
Current Assets  $4,224,438   $5,401,303   $(1,176,865)
                
Current Liabilities  $4,493,724   $6,506,178   $(2,012,454)
                
Working Capital  $(269,286)  $(1,104,875)  $835,589 

  

Senior Secured Credit Facility

 

On October 3, 2011, the Company, EnerJex Kansas, Inc., Black Sable Energy, LLC and Working Interest, LLC ("Borrowers") entered into an Amended and Restated Credit Agreement with Texas Capital Bank, N.A. (the “Bank”) and other financial institutions and banks that may become a party to the Credit Agreement from time to time. The facilities provided under the Amended and Restated Credit Agreement were used to refinance Borrowers prior outstanding revolving loan facility with Bank, dated July 3, 2008, and for working capital and general corporate purposes.

 

 At our option, loans under the facility will bear stated interest based on the Base Rate plus Base Rate Margin, or Floating Rate plus Floating Rate Margin (as those terms are defined in the Credit Agreement). The Base Rate will be, for any day, a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate plus 0.50% and (b) the Bank's prime rate. The Floating Rate shall mean, at Borrower's option, a per annum interest rate equal to (i) the Eurodollar Rate plus Eurodollar Margin, or (ii) the Base Rate plus Base Rate Margin (as those terms are defined in the Amended and Restated Credit Agreement). Eurodollar borrowings may be for one, two, three, or six months, as selected by the Borrowers. The margins for all loans are based on a pricing grid ranging from 0.00% to 0.75% for the Base Rate Margin and 2.25% to 3.00% for the Floating Rate Margin based on the Company's Borrowing Base Utilization Percentage (as defined in the Amended and Restated Credit Agreement).

 

 On December 15, 2011, we entered into a First Amendment to Amended and Restated Credit Agreement and Second Amended and Restated Promissory Note in the amount of $50,000,000 with the Bank, which closed on December 15, 2011. The Amendment reflected the addition of Rantoul Partners as an additional Borrower and added as additional security for the loans the assets held by Rantoul Partners. 

 

On August 31, 2012, we entered into a Second Amendment to Amended and Restated Credit Agreement with the Bank. The Second Amendment: (i) increased our borrowing base to $7,000,000, (ii) reduced the minimum interest rate to 3.75%, and (iii) added additional new leases as collateral for the loan.

 

 On November 2, 2012, we entered into a Third Amendment to Amended and Restated Credit Agreement with the Bank. The Third Amendment (i) increased our borrowing base to $12,150,000, and (ii) clarified certain continuing covenants and provided a limited waiver of compliance with one of the covenants so clarified for the quarter ended December 31, 2011.

 

On January 24, 2013, we entered into a Fourth Amendment to Amended and Restated Credit Agreement, which was made effective as of December 31, 2012 with the Bank.  The Fourth Amendment reflects the following changes: (i) the Bank consented to the restructuring transactions related to the dissolution of Rantoul Partners, and (ii) the Bank terminated a Limited Guaranty, as defined in the Credit Agreement, executed by Rantoul Partners in favor of the Bank.

 

On April 16, 2013, the Bank increased our borrowing base to $19.5 million.

 

On September 30, 2013, we entered into a Fifth Amendment to the Amended and Restated Credit Agreement.  The Fifth Amendment reflects the following changes: (i) an expanded principal commitment amount of the Bank to $100,000,000, (ii) an increase in our Borrowing Base to $38,000,000, (iii) the addition of Black Raven Energy, Inc. to the Credit Agreement as a borrower party, (iv) the addition of certain collateral and security interests in favor of the Bank, and (v) the reduction of our current interest rate to 3.30%.  

 

On November 19, 2013, we entered into a Sixth Amendment to the Amended and Restated Credit Agreement. The Sixth Amendment reflects the following changes: (i) the addition of Iberia Bank as a participant into our credit facility, and (ii) made a technical correction to our covenant calculations.

 

On May 22, 2014, we entered into a Seventh Amendment to the Amended and Restated Credit Agreement. The Seventh Amendment reflects the Bank’s consent to our issuance of up to 850,000 shares of our 10% Series A Cumulative Perpetual Preferred Stock.

 

On August 15, 2014 we entered into an Eighth Amendment to the Amended and Restated Credit Agreement. The Eighth Amendment reflects the following changes: (i) the borrowing base was increased from $38 million to $40 million, and (ii) the maturity of the facility was extended by three years to October 3, 2018.

 

15
 

  

Our current borrowing base is $40 million, of which we had borrowed $21 million as of September 30, 2014. We intend to conduct an additional borrowing base review in early 2015. For the nine month period ended September 30, 2014, and for the year ended December 31, 2013, the interest rate on amounts borrowed under our credit facility was 3.3%. This facility expires on October 3, 2018. 

  

Satisfaction of our cash obligations for the next 12 months

 

We intend to meet our near term cash obligations through financings under our credit facility with Texas Capital Bank and through cash flow generated from operations.

 

Summary of product research and development

 

We do not anticipate performing any significant product research and development under our plan of operation.

 

Expected purchase or sale of any significant equipment

 

We anticipate that we will purchase the necessary production and field service equipment required to produce oil and natural gas during our normal course of operations over the next twelve months.

 

Significant changes in the number of employees

 

There have been no significant changes in number of employees since December 31, 2013. We currently have 34 full-time employees, including field personnel. As production and drilling activities increase or decrease, we may have to continue to adjust our technical, operational and administrative personnel as appropriate. We are using and will continue to use independent consultants and contractors to perform various professional services, particularly in the area of land services, reservoir engineering, geology drilling, water hauling, pipeline construction, well design, well-site monitoring and surveillance, permitting and environmental assessment. We believe that this use of third-party service providers may enhance our ability to contain operating and general expenses, and capital costs.

 

Off-Balance Sheet Arrangements

 

 We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

 

Critical Accounting Policies and Estimates

 

Our critical accounting estimates include the value of our oil and gas properties, asset retirement obligations, and share-based payments 

 

Oil and Gas Properties

 

We follow the full-cost method of accounting under which all costs associated with property acquisition, exploration and development activities are capitalized. We also capitalize internal costs that can be directly identified with our acquisition, exploration and development activities and do not include costs related to production, general corporate overhead or similar activities.

 

Proved properties are amortized using the units of production method (UOP). Currently we only have operations in the Unites States of America. The UOP calculation multiplies the percentage of estimated proved reserves produced each quarter by the cost of these reserves. The amortization base in the UOP calculation includes the sum of proved property, net of accumulated depreciation, depletion and amortization (DD&A), estimated future development costs (future costs to access and develop proved reserves) and asset retirement costs, less related salvage value.

 

The cost of unproved properties are excluded from the amortization calculation until it is determined whether or not proved reserves can be assigned to such properties or until development projects are placed into service. Geological and geophysical costs not associated with specific properties are recorded to proved property immediately. Unproved properties are reviewed for impairment quarterly.

 

Under the full-cost-method of accounting, the net book value of oil properties, less deferred income taxes, may not exceed a calculated “ceiling.” The ceiling limitation is (a) the present value of future net revenues computed by applying current prices of oil & gas reserves (with consideration of price changes only to the extent provided by contractual arrangements) to estimated future production of proved oil & gas reserves as of the date of the latest balance sheet presented, less estimated future expenditures (based on current costs) to be incurred in developing and producing the proved reserves computed using a discount factor of 10 percent and assuming continuation of existing economic conditions plus (b) the cost of properties not being amortized plus (c) the lower of cost or estimated fair value of unproven properties included in the costs being amortized less (d) income tax effects related to differences between book and tax basis of properties. Future cash outflows associated with settling accrued retirement obligations are excluded from the calculation. Estimated future cash flows are calculated using end-of-period costs and an unweighted arithmetic average of commodity prices in effect on the first day of each of the previous 12 months held flat for the life of the production, except where prices are defined by contractual arrangements.

 

Any excess of the net book value of proved oil and gas properties, less related deferred income taxes, over the ceiling is charged to expense and reflected as additional DD&A in the statement of operations. The ceiling calculation is performed quarterly. During the quarter ended September 30, 2014 and the year ended December 31, 2013, there were no impairments resulting from the quarterly ceiling tests.

  

16
 

 

Asset Retirement Obligations

 

The asset retirement obligation relates to the plug and abandonment costs when our wells are no longer useful. We determine the value of the liability by obtaining quotes for this service and estimate the increase we will face in the future. We then discount the future value based on an intrinsic interest rate that is appropriate for us. If costs rise more than what we have expected there could be additional charges in the future however we monitor the costs of the abandoned wells and we will adjust this liability if necessary.

  

Share-Based Payments

 

The value we assign to the options and warrants that we issue is based on the fair market value as calculated by the Black-Scholes pricing model. To perform a calculation of the value of our options and warrants, we determine an estimate of the volatility of our stock. We need to estimate volatility because there has not been enough trading of our stock to determine an appropriate measure of volatility. We believe our estimate of volatility is reasonable, and we review the assumptions used to determine this whenever we issue a new equity instruments. If we have a material error in our estimate of the volatility of our stock, our expenses could be understated or overstated.

 

Effects of Inflation and Pricing

 

The oil industry is very cyclical and the demand for goods and services of oil field companies, suppliers and others associated with the industry puts extreme pressure on the economic stability and pricing structure within the industry. Material changes in prices impact revenue stream, estimates of future reserves, borrowing base calculations of bank loans and value of properties in purchase and sale transactions. Material changes in prices can impact the value of oil companies and their ability to raise capital, borrow money and retain personnel. We anticipate business costs and the demand for services related to production and exploration will fluctuate while the commodity prices for oil remains volatile.

 

ITEM 3.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

 

We are a smaller reporting Company as defined by Rule 12b-2 under the Securities Exchange Act of 1934, and are not required to provide the information required under this item.

 

ITEM 4. CONTROLS AND PROCEDURES.

 

Our Chief Executive Officer, Robert G. Watson, Jr., and our Chief Financial Officer, Douglas M. Wright evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended) as of the end of the period covered by this Report pursuant to Exchange Act Rule 13-a-15(b) . Based on this evaluation, Mr. Watson and Mr. Wright concluded that our disclosure controls and procedures are effective.

 

There were no changes in our internal control over financial reporting that occurred during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

PART II—OTHER INFORMATION

 

ITEM 1.  LEGAL PROCEEDINGS.

 

We may become involved in various routine legal proceedings incidental to our business. However, to our knowledge as of the date of this transition report, there are no material pending legal proceedings to which we are a party or to which any of our property is subject. 

 

On January 23, 2012, we filed a petition seeking recovery of damages arising from breach of contract, legal malpractice, breach of fiduciary duty and fraud in the Circuit Court of Jackson County, Missouri against attorneys Jeffrey T. Haughey, Robert K. Green, and the law firm Husch Blackwell LLP f/k/a Husch Blackwell Sanders, LLC. The petition in this action, EnerJex Resources, Inc., v. Haughey, et al., alleges, among other things, that the defendants violated their fiduciary duties and defrauded us in connection with our stock offering in 2008. 

 

17
 

 

The petition alleges economic loss of approximately $50 million and demands judgment for unspecified actual and punitive damages together with repayment of $484,473 in legal fees paid by EnerJex. At the time the petition was filed, we estimated our economic loss of approximately $50 million by conducting an analysis that considered a number of factors, including the loss of at least $25 million of gross proceeds we would have received in the failed 2008 stock offering, the loss of the value we could have created had EnerJex been able to utilize the proceeds from the stock offering to execute its business plan in the 2008 economic environment, and the loss of market value for our common stock.  

 

A trial to hear a portion of this case in the 16th Circuit Court of Jackson County, Missouri, began on December 2, 2013. In that trial, based on its rulings on written motions, the court disallowed our claims for actual and consequential damages for breach of contract and legal malpractice against the defendants. On December 19, 2013, the Company reached an agreement with the defendants to settle our claims for breach of fiduciary duty and fraud in return for (i) the defendants paying to us the sum of $500,000, which was paid to us in January 2014, and (ii) dismissal of the defendants’ counterclaim of $492,134 and interest on that amount, which was removed from our balance sheet and is not reflected as a liability as of December 31, 2013. Our financial statements reflect the litigation costs that we have incurred to date. 

 

In entering into this settlement, the defendants have not admitted liability on any matter related to the claims in the litigation. In June 2014, we appealed the court’s rulings and requested from the appellate court authorization to pursue our claims for actual and consequential damages with respect to our claims alleging breach of contract and legal malpractice against the defendants. There can be no assurance of the outcome of the appellate process, including whether the appellate court will allow us to seek actual and consequential damages for breach of contract and legal malpractice and breach of fiduciary duty, as well as what amount of damages, if any, we may recover. 

 

Any additional monetary award resulting from a settlement of this litigation that is reached for our benefit in an amount that exceeds our total costs of litigation shall be subject to a contingency fee for the benefit of our attorneys. There can be no assurance of the outcome of this litigation, including whether and in what amount EnerJex may recover damages.

    

ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

 

None

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

 

None.

 

ITEM 4. (REMOVED AND RESERVED).

 

ITEM 5. OTHER INFORMATION.

 

None.

 

ITEM 6.  EXHIBITS.

 

Exhibit
No.
  Description
2.1   Agreement and Plan of Merger by and among Registrant, BRE Merger Sub, Inc., Black Raven Energy, Inc. and West Coast Opportunity Fund, LLC dated July 23, 2013 (incorporated herein by reference to Exhibit 10.4 on Form 8-K filed July 29, 2013).
3.1   Amended and Restated Articles of Incorporation, as currently in effect (incorporated by reference to Exhibit 3.1 to the Form 10-Q filed on August 14, 2008)
3.2   Amended and Restated Bylaws, as currently in effect (incorporated by reference to Exhibit 3.3 to the Form SB-2 filed on February 23, 2001)
3.3   Certificate of Amendment of Amended and Restated Articles of Incorporation (incorporated herein by reference as Appendix B to Schedule 14A filed on June 6, 2013).
3.4   Certificate of Amendment of Articles of Incorporation as filed with the Nevada Secretary of State on May 29, 2014 (incorporated herein by reference as Exhibit 3.1 on Current Report Form 8-K filed on May 29, 2014).
3.5   Amended and Restated Certificate of Designathion as filed with the Nevada Secretary of State on June 16,2014 (incorporated herein by reference as Exhibit 4.6 to Registration Statement on Form S-1 filed on June 3, 2014).
4.1   Amended and Restated Bylaws, as currently in effect (incorporated by reference to Appendix C to Schedule 14A filed on June 6, 2013).
10.1   Form of Officer and Director Indemnification Agreement (incorporated by reference to Exhibit 10.2 to the Form 8-K filed on October 16, 2008)
     

  

18
 

 

     
10.2   Amendment 4 to Joint Exploration Agreement effective as of November 6, 2008 between MorMeg, LLC and EnerJex Resources, Inc.  (incorporated by reference to Exhibit 10.15 to the Form 10-K filed July 14, 2009)
10.3   Amendment 5 to Joint Exploration Agreement effective as of December 31, 2009 between MorMeg LLC and EnerJex Resources, Inc. (incorporated by reference to Exhibit 10.15 to the Form 10-Q filed on February 16, 2010)
10.4   Amendment 6 to Joint Exploration Agreement effective as of March 31, 2010 between MorMeg LLC and EnerJex Resources, Inc. (incorporated by reference to Exhibit 10.24 to the Form 10-K filed on July 15, 2010)
10.5   Amended and Restated EnerJex Resources, Inc. Stock Incentive Plan (incorporated by reference to Exhibit 10.1 to the Form 8-K filed on October 16, 2008)
10.6   Joint Development Agreement between EnerJex Resources, Inc. and Haas Petroleum, LLC dated December 31, 2010 (incorporated by reference to Exhibit 10.1 to the Form 8-K filed on January 27, 2011).
10.7   Joint Operating Agreement between EnerJex Resources, Inc. and Haas Petroleum, LLC and MorMeg, LLC dated December 31, 2010 (incorporated by reference to Exhibit 10.2 to the Form 8-K filed on January 27, 2011).
10.8   Amended and Restated Credit Agreement dated October 3, 2011 (incorporated herein by reference to Exhibit 10.1 on Form 8-K filed on October 6, 2011).
10.9   Option and Joint Development Agreement by and among Registrant and MorMeg, LLC dated August 2011 (incorporated herein by reference to Exhibit 10.1 on Form 8-K filed on November 15, 2011).
10.10   First Amendment to Amended and Restated Credit Agreement dated December 14, 2011 (incorporated herein by reference to Exhibit 10.2 on Form 8-K filed on December 14, 2011).
10.11   Second Amendment to Amended and Restated Credit Agreement dated August 31, 2012 (incorporated herein by reference to Exhibit 10.1 on Form 8-K filed on November 8, 2012).
10.12   Third Amendment to Amended and Restated Credit Agreement dated November 2, 2012 (incorporated herein by reference to Exhibit 10.2 on Form 8-K filed on November 8, 2012).
10.13   Amended and Restated Employment Agreement by and among Registrant and Robert G. Watson, Jr. dated December 31, 2012 (incorporated herein by reference to Exhibit 10.1 on Form 8-K filed on January 4, 2013).
10.14   Fourth Amendment to Amended and Restated Credit Agreement by and among Registrant and Texas Capital Bank dated December 31, 2012 (incorporated herein by reference to Exhibit 10.2 on Form 8-K filed on January 30, 2013).
10.15   First Amendment to Amended & Restated Mortgage Security Agreement, Financing Statement and Assignment of Production by and among Working Interest, LLC and Texas Capital Bank dated December 31, 2012 (incorporated herein by reference to Exhibit 10.3 on Form 8-K filed on January 30, 2013).
10.16   Mortgage, Security Agreement, Financing Statement and Assignment of Production and Revenues by and among Working Interest, LLC and Texas Capital Bank dated December 31, 2012 (incorporated herein by reference to Exhibit 10.4 on Form 8-K filed on January 30, 2013).
10.17   2013 Stock Incentive Plan (incorporated herein by reference to Exhibit 10.1 on Registration Statement on Form S-8 filed on June 12, 2013)
10.18   Fifth Amendment to Amended and Restated Credit Agreement by and among Registrant and Texas Capital Bank, N.A. dated September 30, 2013 (incorporated herein by reference to Exhibit 10.1 on Form 8-K filed October 1, 2013).
10.19   Sixth Amendment to Amended and Restated Credit Agreement by and among Registrant and Texas Capital Bank, N.A. dated November 19, 2013 (incorporated by reference to Exhibit 10.37 on Form 10-Q filed May 13, 2014).
10.20   Exchange Agreement between EnerJex Resources, Inc. and holders of Series A preferred stock (incorporated by reference to Exhibit 10.38 on Form S-1/A Amendment No. 2 filed June 3, 2014).
10.21   Seventh Amendment to Amended and Restated Credit Agreement by and among Registrant and Texas Capital Bank, N.A. dated May 22, 2014 (incorporated by reference to Exhibit 10.1 to Form 8-K filed May 27, 2014).
21.1   Subsidiaries
31.1   Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2   Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1   Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2   Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS   XBRL Instance Document
101.SCH   XBRL Taxonomy Extension Schema Document
101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF   XBRL Taxonomy Extension Definition Linkbase Document
101.LAB   XBRL Taxonomy Extension Labels Linkbase Document
101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document

  

† Indicates management contract or compensatory plan or arrangement.

 

19
 

 

SIGNATURES

 

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

ENERJEX RESOURCES, INC.  
(Registrant)  
     
By: /s/ Robert G. Watson, Jr.  
  Robert G. Watson, Jr. Chief Executive Officer  
  (Principal Financial Officer)  

  

Date: November 14, 2014

 

20

GRAPHIC 2 tlogo.jpg GRAPHIC begin 644 tlogo.jpg M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T- M#AT5%A$8(Q\E)"(?(B$F*S7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7& MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$! M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$" M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$ MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4 MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#V:BBB@`HH MHH`****`"BN'M/'":/J-[IFLQRGR9W\N5!D[220"/H>#27OC*?7!):Z,C6ML MHSD(SCV%8:R+%I2>4C11SJ$MXV^\L"G@GW=LL?PJ M"YEFT^.&*TA,^J78S!'C/E)_?(]3VSTZUXF)Q$YU'2HZ+N?0X7!)).IK+MT\ M_DOT-VRU+6O,02")P_1)F5&;Z=_TKI(V9XPSH8V/52S`^XQ770HU:2]^_P`SGQ;P MTM:,XMK=+^M32HHHKH.`****`"BBB@`HJE=ZSI=A*(KW4K2VD(R$FF5"?P)J MN?%'AX===T[_`,"T_P`:`-6BJ-GK6DZA-Y-EJ=G^4G=;W#%D8IV4E>N.E06D5SJR1RZA"EEI$+;DM85V"9 MO0#J?=C7>:I8W\X)M+E,=?+E0'!]CCBL9/#VIW=SF[8*.[L^XX]A7G8BKB/@ MBF^W8]K#U,+&/M%&,9]7U_X#]"C&WVZ^:>Y&(44R.%'"HH^Z/T%1C3-1UB_N M+:W?[/++@ZC==XP1\L"?08S79)I=K%`D4<8P@'7^+!R,_CS4EA9I8VHA7EB2 M[OW=B]-ZF6@!$97REV[<\XQ5:]T&Q\2^+?$FE:A'OAFL+3!'5&S+AAZ$4`=J3YL! M,4@&]?DD7!QD<$>M<1!-XK_X3]]"EU^-K*.S6\\P62!V!?;L].H/-9/@G7[[ MPAKA\">)Y.`?^);>-]V1#T7/IZ>AR/2NJC`_X6A,>_\`8R?^CFH`YWQKKGBC M0/%&CV-GK,9M=7N/*&^T0M!\RCC^]PW?TK M@#D#.,@\9KFOBS*\/BKP?+'`\[I>%EB0@,Y#)P,\9-;FK^+]:A%E&GAN_L%N M+Z"%[F=HF5%:10>%8]1Q^-`#?%.K:]:>`X_$FG:BMM-%9Q32V\ELK*Y;&>O* MGG]*30_^$OUOPI9ZQ;^(X%NKJ`2B&6Q7R\G^'(.?QJ]\3O\`DG.M?]'_#OP\TD7MS)Y\=JJB%87R[>@)&W\MZKY:ZAK,WG/%&VY84R2%SW/S?RKG/$__)?_``]_U[K_`.U*`-'X MB:UXB\(R:?+I.IPI:WMSY`@:T0^3Z8/?OUKHY-&\5>6WE>+5#X^7?IL9&??! MKE/CCRRP^&-1LWW*OVF5HF2(%@"Q`8GO MZ4`36I\8:IX22>'4H;76;=IHY8VME,N:K?#'Q/J7B2WO?[8 MO]U_:2&*:S\A8_*YX;CD]"/J*[NO(OB7%-X*\46WBS1+E;>:_5H;N$+NW#'^ MLV]\;:/&)$FSDREN2['NQ))/O6K0!SGQ"D2/P M!K;.P4&T<<^IX'ZUC_!J>*7X=VB(ZLT4LJNH/*G<3S^!%:OBO1/#\\0OM6TI MM0>22.)8_,(#,Q"KP6"CKUK$7P[X(M[#4;IO#!MY-/QY\*R'<<@$8*O@Y!]: M`.E\1>(H]'>QM(#%)?ZA=1P0PL><$_,Q`YP%S^.*SM*N4;XHZ_`&!9;&UXSS MP7_^*'YU!8^'/"^FQW&M/X:^P/91L_F&42.1M.<;7/.,_G3=/\/^%/\`2-5E MT"2PD@3SFN6F9MZD$Y$B.0W3D9ST]J`-#QUX,MO&.BF`D0WT&7M+CNC>A]CW M_/M7)?#35]7U+QC>6NO0E-0TS3EM)6;K)B3(8^^#U[]>]=[9:Z+F[AMI["YL MFN4+VYGV_O`.HX)PV#G![?C5>WN](>[M=;BLV6ZU)C9"7&&(4L<-ST^0\]>E M`'&_%2:*+QEX,,CJH6]W-D]!O3FO2YXX)8B+A$>-2'^<`@%3D'GT(!_"N%O= M)\(7VHRRW_AJ2=1>?9&NY9=W[PL!T+[L9;L*EO?#OA2.>>TC\-7%]%:A?M)B MD=ECR,@;2^6.,'`!X-`#/&6N0ZY\*M=OX0%MR6BA?=D2JL@4,/J0<4[0]`M/ M%?P=T[2K@C;+9+Y&"3H@/.%9L%L]EYH`POAAXHN%\[P9KQ, M6K:82D6\_P"NC'3'J0/S&#ZUG>(P9/V@=!5>2ENI/MQ(:[G7]#\/W\2ZQJ>F M-+-;('26%'%POH!LPV?:L3PSX:OK[QE=>,]8MFM':,06%G(E7Y/`7A:6SBLWTB(VT.=D.]]@RS`?3).![4`>;^!-0N/!'BNY\!ZO,3;2,9=,G M>`O"^H7;W=YI$<\[G)DD=R?7UXK;M+6&RM8[:W4K%&,*I8M@?4\T`5=9TJ/6 M;..UF*^6L\'7YE)&< M=LD444`6+'1;BVL+NV5K&S:=?D>PM/*VG'4@DAJKV'A58H=0CNGMU2_A$+Q6 M4/DQCKE]N3\QW=?8444`6;32+[[?:W.I7\=P+)&6!8H=F21@LW)R<9&!@7ZQ_:"#3Y28$AVWMIYVW:S'(.X8SN_2I-4BIO EX-21.1 3 v392167_ex21-1.htm EXHIBIT 21.1

 

Exhibit 21.1

Subsidiaries of EnerJex Resources, Inc.

As of September 30, 2014

 

Name of Subsidiary   State of Incorporation    Percentage
Ownership
EnerJex Kansas, Inc.   Nevada   100%
Black Raven Energy, Inc   Nevada   100%
Black Sable Energy, LLC   Texas   100%
Working Interest, LLC   Kansas   100%

 

 

 

EX-31.1 4 v392167_ex31-1.htm EXHIBIT 31.1

 

EXHIBIT 31.1

 

CERTIFICATION

 

I, Robert G. Watson, Jr. Chief Executive Officer of EnerJex Resources, Inc., certify that:

 

  1. I have reviewed this Quarterly Report on Form 10-Q of EnerJex Resources, Inc.;

 

  2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

  3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

 

  4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

  a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

  b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

  c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

  d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

  5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

  a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

  b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Date: November 14, 2014

 

/s/ Robert G. Watson, Jr.  
Robert G. Watson, Jr.  
Chief Executive Officer  
(Principal Executive Officer)  

   

 

 

 

EX-31.2 5 v392167_ex31-2.htm EXHIBIT 31.2

 

EXHIBIT 31.2

 

CERTIFICATION

 

I, Douglas M. Wright Chief Financial Officer of EnerJex Resources, Inc., certify that:

 

  1. I have reviewed this Quarterly Report on Form 10-Q of EnerJex Resources, Inc.;

 

  2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

  3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

 

  4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

  a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

  b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

  c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

  d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

  5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

  a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

  b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Date:    November 14, 2014

 

/s/ Douglas M. Wright  
Douglas M. Wright  
Chief Financial Officer  

 

 

 

 

EX-32.1 6 v392167_ex32-1.htm EXHIBIT 32.1

 

EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Robert G. Watson, Jr., pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, certify that:

 

  1. the Quarterly Report of EnerJex Resources, Inc. on Form 10-Q for the quarterly period ended September 30, 2014 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

  2. the information contained in such Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of EnerJex Resources, Inc.

 

Date:    November 14, 2014  
   
/s/ Robert G. Watson, Jr.  
Robert G. Watson, Jr.  
Chief Executive Officer  
(Principal Executive Officer)  

 

 

 

 

EX-32.2 7 v392167_ex32-2.htm EXHIBIT 32.2

 

EXHIBIT 32.2

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

I, Douglas M. Wright, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, certify that:

 

  1. the Quarterly Report of EnerJex Resources, Inc. on Form 10-Q for the quarterly period ended September 30, 2014, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

  2. that information contained in such Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of EnerJex Resources, Inc.

 

Date:    November 14, 2014  
   
/s/ Douglas M. Wright  
Douglas M. Wright  
Chief Financial Officer  

 

 

 

 

EX-101.INS 8 enrj-20140930.xml XBRL INSTANCE DOCUMENT 0000008504 2013-01-01 2013-09-30 0000008504 2014-01-01 2014-09-30 0000008504 2014-01-15 0000008504 2014-03-17 0000008504 2013-07-01 2013-09-30 0000008504 2014-07-01 2014-09-30 0000008504 2014-09-30 0000008504 2014-11-14 0000008504 2013-12-16 2014-01-15 0000008504 2013-12-31 0000008504 2012-12-31 0000008504 2013-09-30 0000008504 us-gaap:SeriesAPreferredStockMember 2014-09-30 0000008504 us-gaap:SeriesAPreferredStockMember 2013-12-31 0000008504 us-gaap:FairValueInputsLevel1Member 2014-09-30 0000008504 us-gaap:FairValueInputsLevel2Member 2014-09-30 0000008504 us-gaap:FairValueInputsLevel3Member 2014-09-30 0000008504 enrj:DeferredPremiumPutMember us-gaap:MinimumMember enrj:DerivativeInstrumentOneMember 2014-01-01 2014-09-30 0000008504 enrj:DeferredPremiumPutMember enrj:DerivativeInstrumentOneMember us-gaap:MaximumMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember enrj:DerivativeInstrumentTwoMember us-gaap:MinimumMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember us-gaap:MaximumMember enrj:DerivativeInstrumentTwoMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember us-gaap:MinimumMember enrj:DerivativeInstrumentThreeMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember us-gaap:MaximumMember enrj:DerivativeInstrumentThreeMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember us-gaap:MinimumMember enrj:DerivativeInstrumentFourMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember us-gaap:MaximumMember enrj:DerivativeInstrumentFourMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceCollarMember us-gaap:MinimumMember enrj:DerivativeInstrumentFiveMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceCollarMember us-gaap:MaximumMember enrj:DerivativeInstrumentFiveMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember us-gaap:MinimumMember enrj:DerivativeInstrumentSixMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember us-gaap:MaximumMember enrj:DerivativeInstrumentSixMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember us-gaap:MinimumMember enrj:DerivativeInstrumentSevenMember 2014-01-01 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember us-gaap:MaximumMember enrj:DerivativeInstrumentSevenMember 2014-01-01 2014-09-30 0000008504 enrj:DeferredPremiumPutMember enrj:DerivativeInstrumentOneMember 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember enrj:DerivativeInstrumentTwoMember 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember enrj:DerivativeInstrumentThreeMember 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember enrj:DerivativeInstrumentFourMember 2014-09-30 0000008504 enrj:DerivativeInstrumentFiveMember enrj:CrudeOilPriceCollarMember 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember enrj:DerivativeInstrumentSixMember 2014-09-30 0000008504 enrj:CrudeOilPriceSwapMember enrj:DerivativeInstrumentSevenMember 2014-09-30 0000008504 us-gaap:LineOfCreditMember enrj:FederalFundsRateMember 2014-01-01 2014-09-30 0000008504 us-gaap:LineOfCreditMember us-gaap:BaseRateMember us-gaap:MinimumMember 2014-01-01 2014-09-30 0000008504 us-gaap:LineOfCreditMember us-gaap:BaseRateMember us-gaap:MaximumMember 2014-01-01 2014-09-30 0000008504 us-gaap:LineOfCreditMember enrj:FloatingRateMember us-gaap:MinimumMember 2014-01-01 2014-09-30 0000008504 us-gaap:LineOfCreditMember enrj:FloatingRateMember us-gaap:MaximumMember 2014-01-01 2014-09-30 0000008504 us-gaap:LineOfCreditMember enrj:FifthAmendmentMember enrj:FederalFundsRateMember 2013-09-01 2013-09-30 0000008504 enrj:FifthAmendmentMember 2013-09-30 0000008504 enrj:FirstAmendmentMember enrj:RantoulPartnersMember 2011-12-15 0000008504 enrj:FourthAmendmentMember 2013-04-16 0000008504 enrj:EightAmendmentMember 2014-08-15 0000008504 enrj:SecondAmendmentMember 2012-08-31 0000008504 enrj:ThirdAmendmentMember 2012-11-02 0000008504 enrj:SecondAmendmentMember us-gaap:MinimumMember 2012-08-01 2012-08-31 0000008504 enrj:SevenamendmentmemberMember enrj:SeriesCumulativeRedeemablePerpetualPreferredStockMember 2014-05-01 2014-05-22 0000008504 enrj:TexasRailroadCommissionMember 2014-09-30 0000008504 enrj:ConsultantMember 2014-02-05 2014-03-17 0000008504 enrj:SeriesConvertiblePreferredStockMember 2014-06-01 2014-06-16 0000008504 us-gaap:IPOMember 2014-06-01 2014-06-20 0000008504 us-gaap:OverAllotmentOptionMember 2014-06-01 2014-06-20 0000008504 us-gaap:IPOMember 2014-06-20 0000008504 us-gaap:SubsequentEventMember enrj:SeriesCumulativeRedeemablePerpetualPreferredStockMember 2014-10-01 2014-10-31 0000008504 us-gaap:SubsequentEventMember enrj:SeriesCumulativeRedeemablePerpetualPreferredStockMember 2014-10-25 2014-11-04 0000008504 us-gaap:SubsequentEventMember 2014-10-01 2014-10-14 0000008504 us-gaap:SeriesAPreferredStockMember 2014-01-01 2014-09-30 xbrli:shares iso4217:USD xbrli:shares iso4217:USD utr:bbl iso4217:USD utr:bbl xbrli:pure <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><strong>Note 5 - Derivative Instruments</strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> We have entered into certain derivative or physical arrangements with respect to portions of our crude oil production to reduce our sensitivity to volatile commodity prices and/or to meet hedging requirements under our Credit&#160;Facility.&#160;We believe that these derivative arrangements, although not free of risk, allow us to achieve a more predictable cash flow and to reduce exposure to commodity price fluctuations.&#160;However, derivative arrangements limit the benefit of increases in the prices of crude oil.&#160;Moreover, our derivative arrangements apply only to a portion of our production.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> We have an Intercreditor Agreement in place between us, our counterparties, BP Corporation North America, Inc. (BP), Cargill, Inc. and our agent Texas Capital Bank, N.A., which allows Texas Capital Bank to also act as agent for&#160;the counterparties&#160;for the purpose of holding and enforcing any liens or security interests resulting from our derivative arrangements.&#160;Therefore, we are not required to post additional collateral, including cash.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The following derivative contracts were in place at September 30, 2014:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in 0in 0in 0.5in; WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt; OVERFLOW: visible" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">Term</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">Monthly&#160;Volumes</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div style="CLEAR:both;CLEAR: both">Price/Bbl</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div style="CLEAR:both;CLEAR: both">Fair&#160;Value</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Deferred premium put</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1/16-6/16</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">9,000 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">85.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">39,681</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1/15-12/15</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">5,800 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">88.55</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">54,288</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">9/13-12/14</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">3,000 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">95.15</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">44,460</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">7/11-12/15</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">2,850 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">83.70</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">(190,463)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil collar</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1/14-12/14</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1,900 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">96.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">33,003</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">7/12-12/15</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1,240 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">76.74</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">(221,262)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1/14-12/14</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1,380 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">90.25</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">162</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">(240,131)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> </table> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Monthly volume is the weighted average throughout the period.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The current fair value is shown as a derivative instrument in the current liabilities and the long term fair value is included in other long term assets on the balance sheet.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>Note 6 - Long-Term Debt</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b><i>Senior Secured Credit Facility</i></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On October 3, 2011, the Company, EnerJex Kansas, Inc., Black Sable Energy, LLC and Working Interest, LLC ("Borrowers") entered into an Amended and Restated Credit Agreement with Texas Capital Bank, N.A. (the &#8220;Bank&#8221;) and other financial institutions and banks that may become a party to the Credit Agreement from time to time. The facilities provided under the Amended and Restated Credit Agreement were used to refinance Borrowers&#8217; prior outstanding revolving loan facility with Bank, dated July 3, 2008, and for working capital and general corporate purposes.&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> At our option, loans under the facility will bear stated interest based on the Base Rate plus Base Rate Margin, or Floating Rate plus Floating Rate Margin (as those terms are defined in the Credit Agreement). The Base Rate will be, for any day, a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate plus <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 0.50</font>% and (b) the Bank's prime rate. The Floating Rate shall mean, at Borrower's option, a per annum interest rate equal to (i) the Eurodollar Rate plus Eurodollar Margin, or (ii) the Base Rate plus Base Rate Margin (as those terms are defined in the Amended and Restated Credit Agreement). Eurodollar borrowings may be for one, two, three, or six months, as selected by the Borrowers. The margins for all loans are based on a pricing grid ranging from <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 0.00</font>% to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 0.75</font>% for the Base Rate Margin and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2.25</font>% to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3.00</font>% for the Floating Rate Margin based on the Company's Borrowing Base Utilization Percentage (as defined in the Amended and Restated Credit Agreement).&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On December 15, 2011, we entered into a First Amendment to Amended and Restated Credit Agreement and Second Amended and Restated Promissory Note in the amount of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000,000</font> with the Bank. The Amendment reflected the addition of Rantoul Partners as an additional Borrower and added as additional security for the loans the assets held by Rantoul Partners.&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On August 31, 2012, we entered into a Second Amendment to Amended and Restated Credit Agreement with the Bank. The Second Amendment: (i) increased our borrowing base to&#160;$<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">7,000,000</font>, (ii) reduced the minimum interest rate to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3.75</font>%, and (iii) added additional new leases as collateral for the loan.&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On November 2, 2012, we entered into a Third Amendment to Amended and Restated Credit Agreement with the Bank. The Third Amendment (i) increased our borrowing base to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">12,150,000</font>, and (ii) clarified certain continuing covenants and provided a limited waiver of compliance with one of the covenants so clarified for the quarter ended December 31, 2011.&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On January 24, 2013, we entered into a Fourth Amendment to Amended and Restated Credit Agreement, which was made effective as of December 31, 2012 with the Bank.&#160; The Fourth Amendment reflects the following changes: (i) the Bank consented to the restructuring transactions related to the dissolution of Rantoul Partners, and (ii) the Bank terminated a Limited Guaranty, as defined in the Credit Agreement, executed by Rantoul Partners in favor of the Bank.&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On April 16, 2013, the Bank increased our borrowing base to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">19.5</font> million.&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On September 30, 2013, we entered into a Fifth Amendment to the Amended and Restated Credit Agreement.&#160; The Fifth Amendment reflects the following changes:&#160; (i) an expanded principal commitment amount of the Bank to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">100,000,000</font>, (ii) an increase in our Borrowing Base to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">38,000,000</font>, (iii) the addition of Black Raven Energy, Inc. to the Credit Agreement as a borrower party, (iv) the addition of certain collateral and security interests in favor of the Bank, and (v) the reduction of our current interest rate to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3.30</font>%. &#160;&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.4in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On November 19, 2013, we entered into a Sixth Amendment to the Amended and Restated Credit Agreement. The Sixth Amendment reflects the following changes: (i) the addition of Iberia Bank as a participant in our credit facility, and (ii) a technical correction to our covenant calculations.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On May 22, 2014, we entered into a Seventh Amendment to the Amended and Restated Credit Agreement. The Seventh Amendment reflects the Bank&#8217;s consent to our issuance of up to 850,000 shares of our <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10</font>% Series A Cumulative Perpetual Preferred Stock.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On August 15, 2014, we entered into an Eighth Amendment to the Amended and Restated Credit Agreement. The Eighth Amendment reflects the following changes: (i) the borrowing base was increased from $38 million to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">40</font> million, and (ii) the maturity of the facility was extended by three years to October 3, 2018</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Our current borrowing base is $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">40</font> million, of which we had borrowed $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">21</font> million as of September 30, 2014. We intend to conduct an additional borrowing base review in early 2015. For the nine month period ended September 30, 2014, and for the year ended December 31, 2013, the interest rate on amounts borrowed under our credit facility was <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 3.3</font>%. This facility expires on October 3, 2018.&#160;</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0px; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>Note 7 - Commitments &amp; Contingencies</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> As of September 30, 2014, we had an outstanding irrevocable letter of credit in the&#160;amount of&#160;$<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> issued in favor of the Texas Railroad Commission. The letter of credit is required by the Texas Railroad Commission for all companies operating in the state of Texas with production greater than limits they prescribe.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Rent expense for the nine months ended September 30, 2014 and 2013 was approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">123,000</font>&#160;and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">126,000</font> respectively. Future non-cancellable minimum lease payments are approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">40,000</font> for the remainder of 2014, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">154,000</font> for 2015, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">147,000</font> for 2016, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">145,000</font> for 2017, $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">90,000</font> for 2018 and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">77,000</font> for 2019.&#160;</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>Note 8 &#150; Equity Transactions</b></div> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">On January 15, 2014, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 7,333</font> shares were issued to two employees of the Company as compensation. The share price on the issue date was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">7.05</font>. From February 5, 2014 through March 17, 2014, <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 9,595</font> shares were issued for professional services rendered on behalf of the Company. The share price on all issuance dates for those shares was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">7.50</font>.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">Effective after the close of trading in EnerJex common stock on <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">May 30, 2014, the Company affected a 1-for-15 reverse stock split, by which each share of EnerJex common stock was reclassified, and changed into 1/15th of a fully paid and non-assessable share of common stock. In lieu of fractions of a share, the Company paid to holders of fractions of a share cash equal to $11.25 per share,</font> which was the minimum value designated in the amended and restated certificate of designations affecting the reverse stock split.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 67.5pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">On June 16, 2014, we adopted the Amended and Restated Certificate of Designation modifying the terms of our then-existing Series A preferred stock. Concurrently with filing of that Amended and Restated Certificate of Designation, the holders of our existing Series A preferred stock exchanged each outstanding share of such existing Series A preferred stock for (i) a number of shares of our common stock into which such Series A preferred stock was then convertible immediately prior to the exchange (<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">318,630</font> shares in the aggregate), and (ii) a number of shares of Series A preferred stock equal to the quotient determined by dividing (x) that portion of the holder's original Series A preferred stock purchase price that had not yet been paid in dividends, by (y) $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">23.75</font>.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">On June 20, 2014, we closed an underwritten initial public offering of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 639,157</font> shares of our Series A preferred stock at a purchase price of $23.75 per share for gross proceeds of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">15.2</font> million. The shares sold to the underwriters included <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 83,368</font> shares pursuant to a 45-day option that was exercised by the underwriters in full on June 20, 2014.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Note 9 - Subsequent Events</b> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> We have reviewed all material events through the date of this report in accordance with ASC 855-10.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On October 14, 2014, the Company acquired a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 100</font>% working interest in leases covering 3,400 mineral acres in&#160;Weld County, Colorado for approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">300,000</font>. This acreage is prospective for horizontal drilling&#160;targeting oil production from the Niobrara and Codell formations and has&#160;a remaining term of <font style="LINE-HEIGHT: 115%; FONT-SIZE: 10pt"><font style="FONT-FAMILY:Calibri">approximately</font></font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4</font> years.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> On October 15, 2014, the Company appointed Kent Roach, whose employment began on October 20, 2014, as the company&#8217;s Executive Vice President of Engineering.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">On October 31, 2014, the Company paid a dividend of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">156,000</font> on our <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10</font>% Series A Cumulative Perpetual Preferred Stock to shareholders of record at the close of business on October 15, 2014. The dividend was for the period beginning October 1, 2014 through October 31, 2014.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="FONT-SIZE: 10pt">On November 4, 2014, the Company declared a dividend of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">156,000</font> on our <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 10</font>% Series A Cumulative Perpetual Preferred Stock to be paid on December 1, 2014 to shareholders of record at the close of business on November 14, 2014.&#160; The dividend is for the period beginning of November 1, 2014 through November 30, 2014.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>A summary of stock options is as follows:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in 0in 0in 0.75in; WIDTH: 85%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Options</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Weighted<br/> Average<br/> Price</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Outstanding December 31, 2013</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>231,133</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>9.36</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Granted</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>2,367</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>10.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Cancelled</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>(2,168)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>10.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Exercised</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Outstanding September 30, 2014</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>231,332</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>9.33</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Our derivative instruments consist of variable to fixed price commodity swaps.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in 0in 0in 0.25in; WIDTH: 95%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="58%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%" colspan="8"> <div>Fair&#160;Value&#160;Measurement</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="58%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Level&#160;1</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Level&#160;2</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Level&#160;3</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="58%"> <div>Crude oil contracts</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>(240,131)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="58%"> <div>Marketable Securities</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>1,018,673</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The following shows the changes in asset retirement obligations:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in 0in 0in 0.75in; WIDTH: 85%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Asset retirement obligations, December 31, 2013</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>2,687,801</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Liabilities incurred during the period</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>50,054</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Liabilities settled during the period</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>(90,524)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Accretion</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>191,348</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Asset retirement obligations, September 30, 2014</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>2,838,679</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The following derivative contracts were in place at September 30, 2014:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in 0in 0in 0.5in; WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT-SIZE: 10pt; OVERFLOW: visible" cellspacing="0" cellpadding="0"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">Term</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">Monthly&#160;Volumes</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div style="CLEAR:both;CLEAR: both">Price/Bbl</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div style="CLEAR:both;CLEAR: both">Fair&#160;Value</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Deferred premium put</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1/16-6/16</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">9,000 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">85.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">39,681</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1/15-12/15</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">5,800 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">88.55</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">54,288</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">9/13-12/14</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">3,000 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">95.15</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">44,460</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">7/11-12/15</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">2,850 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">83.70</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">(190,463)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil collar</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1/14-12/14</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1,900 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">96.00</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">33,003</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">7/12-12/15</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1,240 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">76.74</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">(221,262)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">Crude oil swap</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1/14-12/14</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">1,380 Bbls</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">90.25</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">162</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="39%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div style="CLEAR:both;CLEAR: both">(240,131)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div style="CLEAR:both;CLEAR: both">&#160;</div> </td> </tr> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 231133 2367 2168 0 231332 9.36 10.50 10.50 0 9.33 0 228840 1858251 2461746 264001 238794 1018673 1018573 522829 373994 4224438 5401303 2424199 2406591 63299218 61349403 1031140 834180 66754557 64590174 70978995 69991477 2729299 2424009 1517634 3070461 246791 1011708 4493724 6506178 2838679 2687801 21019968 31547255 0 339642 23858647 34574698 28352371 41080876 0 752 4780 0 7643 7281 63670570 49913535 -552589 -552589 -20499752 -20462406 42626624 28910601 70978995 69991477 0 240131 0 0 0 1018673 50054 90524 191348 2016-01 2016-06 2015-01 2015-12 2013-09 2014-12 2011-07 2015-12 2014-01 2014-12 2012-07 2015-12 2014-01 2014-12 9000 5800 3000 2850 1900 1240 1380 85.00 88.55 95.15 83.70 96.00 76.74 90.25 -240131 39681 54288 44460 -190463 33003 -221262 162 0.0050 0.00 0.0075 0.0225 0.0300 0.0330 100000000 50000000 19500000 40000000 7000000 38000000 40000000 12150000 0.0375 21000000 0.033 0.1 126000 123000 40000 154000 147000 145000 90000 77000 50000 9595 7333 May 30, 2014, the Company affected a 1-for-15 reverse stock split, by which each share of EnerJex common stock was reclassified, and changed into 1/15th of a fully paid and non-assessable share of common stock. In lieu of fractions of a share, the Company paid to holders of fractions of a share cash equal to $11.25 per share, 318630 639157 83368 23.75 15200000 7.05 7.50 156000 156000 0.1 0.1 0.001 0.001 25000000 25000000 751815 4779460 751815 4779460 0.001 0.001 250000000 250000000 7643114 7281158 7643114 7281158 1909974 1785401 7228543 10787788 2694506 3530610 0 827273 0 280078 7228543 11615061 2694506 3810688 2450596 4964009 916567 1920968 1347576 2495317 484478 899177 889529 578696 264050 126581 570864 1076334 138875 396899 534340 635364 220693 243136 5792905 9749720 2024663 3586761 1435638 1865341 669843 223927 393204 1005431 137831 267764 -992556 20012 -1160374 1831105 66841 4574 8460 399 -1318919 -980845 -1289745 1563740 116719 884496 -619902 1787667 567142 1378135 199492 522398 -450423 -493639 -819394 1265269 -0.10 -0.07 -0.18 0.17 4522468 7426949 4534550 7642748 162021 460343 84578 36758 90524 -67748 1104559 -7785 -181 137386 -603495 169940 25207 -101643 305290 650172 -1096538 1803395 2417004 103874 238148 4962813 5162656 -3972331 -4412865 0 14027287 600000 0 4000000 3500000 0 13350731 211584 196960 567143 1378135 2621273 1248349 452337 -747512 767494 1308196 1219831 560684 212751 503571 162021 460343 <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0px; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>Note 1 &#150; Basis of Presentation</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 39.65pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The unaudited condensed consolidated financial statements of EnerJex Resources, Inc. (&#8220;we&#8221;, &#8220;us&#8221;, &#8220;our&#8221;, &#8220;EnerJex&#8221; and &#8220;Company&#8221;) have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and reflect all adjustments which, in the opinion of management, are necessary for a fair presentation.&#160;&#160;All such adjustments are of a normal recurring nature.&#160;&#160;The results of operations for the interim period are not necessarily indicative of the results to be expected for a full year.&#160;&#160;Certain amounts in the prior year statements have been reclassified to conform to the current year presentations.&#160;&#160;The statements should be read in conjunction with the financial statements and footnotes thereto included in our Annual Report Form 10-K for the fiscal year ended December 31, 2013.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 39.65pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 39.65pt; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Our consolidated financial statements include the accounts of our wholly-owned subsidiaries, EnerJex Kansas, Inc.,&#160;Black Sable Energy, LLC, Working Interest, LLC and Black Raven Energy, Inc. (&#8220;Black Raven&#8221;) for the three month and&#160;nine month periods ended September 30, 2014 and for the year ended December 31, 2013. On September 27, 2013, we acquired Black Raven. Accordingly, only the financial position, results of operations and cash flows of Black Raven for the quarter ended December 31, 2013 were included in the Company&#8217;s consolidated financial statements for the year ended December 31, 2013. All intercompany transactions and accounts have been eliminated in consolidation.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0px; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><strong>Note 2 - Stock Options</strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font>A summary of stock options is as follows:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in 0in 0in 0.75in; WIDTH: 85%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Options</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Weighted<br/> Average<br/> Price</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Outstanding December 31, 2013</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>231,133</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>9.36</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Granted</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>2,367</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>10.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Cancelled</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>(2,168)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>10.50</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Exercised</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="60%"> <div>Outstanding September 30, 2014</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>231,332</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>9.33</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <strong>Note 4 - Asset Retirement Obligation</strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Our asset retirement obligations relate to the liabilities associated with the abandonment of oil and natural gas wells. The amounts recognized are based on numerous estimates and assumptions, including future retirement costs, inflation rates and credit adjusted risk-free interest rates. The following shows the changes in asset retirement obligations:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in 0in 0in 0.75in; WIDTH: 85%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Asset retirement obligations, December 31, 2013</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>2,687,801</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Liabilities incurred during the period</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>50,054</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Liabilities settled during the period</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>(90,524)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Accretion</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>191,348</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="72%"> <div>Asset retirement obligations, September 30, 2014</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>2,838,679</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 1347576 2495317 187477 206638 18910 0 454973 987939 1600 0 -656693 0 560684 1079356 12842863 10567906 10-Q false 2014-09-30 2014 Q3 EnerJex Resources, Inc. 0000008504 --12-31 Smaller Reporting Company ENRJ 7643114 1 P4Y <div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><strong>Note 3 &#150; Fair Value Measurements</strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">&#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> We hold certain financial assets which are required to be measured at fair value on a recurring basis in accordance with the Statement of Financial Accounting Standard No.&#160;157, <i>"Fair Value Measurements"</i> ("ASC Topic 820-10").&#160;ASC Topic 820-10 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).&#160;ASC Topic 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability. The three levels of the fair value hierarchy under ASC Topic 820-10 are described below:</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Level 1.&#160;Valuations based on quoted prices in active markets for identical assets or liabilities that an entity has the ability to access.&#160;We believe our debt approximates fair value at September 30, 201<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4</font>.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Level 2.&#160;Valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.&#160;We consider the derivative liability to be Level 2.&#160;We&#160;determine the fair value of&#160;the&#160;derivative liability utilizing various inputs, including NYMEX price quotations and contract terms.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Level 3. Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. We consider our marketable securities to be Level 3.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Our derivative instruments consist of variable to fixed price commodity swaps.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#160;</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in 0in 0in 0.25in; WIDTH: 95%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="58%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%" colspan="8"> <div>Fair&#160;Value&#160;Measurement</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="58%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Level&#160;1</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Level&#160;2</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>Level&#160;3</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="58%"> <div>Crude oil contracts</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>(240,131)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="58%"> <div>Marketable Securities</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 5px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>1,018,673</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div>&#160;</div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> 0.1 300000 EX-101.SCH 9 enrj-20140930.xsd XBRL TAXONOMY EXTENSION SCHEMA 101 - Document - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink 102 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:definitionLink link:calculationLink 103 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:definitionLink link:calculationLink 104 - Statement - Condensed Consolidated Statements of Operations link:presentationLink link:definitionLink link:calculationLink 105 - Statement - Condensed Consolidated Statements of Cash Flows link:presentationLink link:definitionLink link:calculationLink 106 - Disclosure - Basis of Presentation link:presentationLink link:definitionLink link:calculationLink 107 - Disclosure - Stock Options link:presentationLink link:definitionLink link:calculationLink 108 - Disclosure - Fair Value Measurements link:presentationLink link:definitionLink link:calculationLink 109 - Disclosure - Asset Retirement Obligation link:presentationLink link:definitionLink link:calculationLink 110 - Disclosure - Derivative Instruments link:presentationLink link:definitionLink link:calculationLink 111 - Disclosure - Long-Term Debt link:presentationLink link:definitionLink link:calculationLink 112 - Disclosure - Commitments & Contingencies link:presentationLink link:definitionLink link:calculationLink 113 - Disclosure - Equity Transactions link:presentationLink link:definitionLink link:calculationLink 114 - Disclosure - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 115 - Disclosure - Stock Options (Tables) link:presentationLink link:definitionLink link:calculationLink 116 - Disclosure - Fair Value Measurements (Tables) link:presentationLink link:definitionLink link:calculationLink 117 - Disclosure - Asset Retirement Obligation (Tables) link:presentationLink link:definitionLink link:calculationLink 118 - Disclosure - Derivative Instruments (Tables) link:presentationLink link:definitionLink link:calculationLink 119 - Disclosure - Stock Options (Summary of stock options) (Detail) link:presentationLink link:definitionLink link:calculationLink 120 - Disclosure - Fair Value Measurements (Variable to Fixed Price Commodity Swaps Derivative Instruments) (Detail) link:presentationLink link:definitionLink link:calculationLink 121 - Disclosure - Asset Retirement Obligation (Changes in Asset Retirement Obligations) (Detail) link:presentationLink link:definitionLink link:calculationLink 122 - Disclosure - Derivative Instruments (Derivative Contracts) (Detail) link:presentationLink link:definitionLink link:calculationLink 123 - Disclosure - Long-Term Debt - Additional Information (Detail) link:presentationLink link:definitionLink link:calculationLink 124 - Disclosure - Commitments & Contingencies - Additional Information (Detail) link:presentationLink link:definitionLink link:calculationLink 125 - Disclosure - Equity Transactions - Additional Information (Detail) link:presentationLink link:definitionLink link:calculationLink 126 - Disclosure - Subsequent Events - Additional Information (Detail) link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 10 enrj-20140930_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 11 enrj-20140930_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 12 enrj-20140930_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-101.PRE 13 enrj-20140930_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE EXCEL 14 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0`!@`(````(0`IT0$VL+5-6Q#^O=WXB"$((9)X;M9L;<_[K,G>[+R]P:*N MHCE85VJ5$9:D)`*5:UFJ248^1B]QET3."R5%I15D9`F.#/J7%[W1TH"+PF[E M,E)X;QXH=7D!M7")-J#"S%C;6OAP:R?4B'PJ)D!YFG9HKI4'Y6/?U"#]WA., MQ:SRT?,B/%Z16*@$^H-\N=K0=V)E!FO=K"Y_(P9%P7"/AN$'"<8N$ MHX.$XPX)1Q<)QST2#I9B`<'BJ`R+I3(LGLJPF"K#XJH,BZTR++[*L!@KP^*L M'(NS_?R]MF2.=G//+"MR9_[Y6 M18\I%\*"?/]=J>*V?5@^@8B)G:13'&HX< M85?=WFQ?>*24FV+7^ZBRBXL:NI3\(V(T'4\4"_'L)MI<3_3_MCAQ(DN)T$C@\SS?BG-`Z^N!+I]H MJ?B]SCSBIX3A363X8<'%#U1?````__\#`%!+`P04``8`"````"$`1DRD=:GU8B\4&90C76Z$R[[>/#YDTW*L27?%5W M/HE1C,]$%4+W+*7/*]TJ/[&=-G'E:%VK0ARZ4G8J/ZE22TS3A71_8XCM3Z'W"K M`5(.RRRR<)1^^$0?PWH:PGW0]D_ATM)WOQ;V/X"``#_ M_P,`4$L#!!0`!@`(````(0"E625;_`(``,,(```/````>&PO=V]R:V)O;VLN M>&ULE%;;4MLP$'WO3/_!X_?B2P(%AH3A$J:9:0O3I.%1H]B;1(,L&4DFY.^[ M=HA9VPE#GVQ)V>.S9\^N')0IN, M.UR:96!S`SRU*P"7R2`.PY,@XT+Y6X1S\QD,O5B(!&YU4F2@W!;$@.0.Z=N5 MR*T_O%@(";-M1A[/\]\\0]ZOTO]<*> M'PSK)!^,E\*"%])-,;T=.NH5]^/XI/QE*<5,P-J^!Y5+[_51J%2ORY^BM)MZ MU4,"Z^KH4:1NA>=A&-9[/T`L5VZWB?`!P:\4Q.]43T]5Z>T485KI4@YBL6NN>0J`8(2 M$Y3X_U"00$TF_DYP*L$_P6;BD%1&V?0)2O^3;-Y0*!M4OY;FN`USS:VP3"_8 M@P&+UJL<1U/!/JFC*T?05"9.)T_L/J]L2J/.2-3W]C?ON#!LQF4![!=P6QA, M6SE+XGOHJ?JKI^WX*VO!L3_@Q#:2W<^E6+:9]Z@ESMH8MV#$"X:\`/K).E/U M78,"]4(4MN-_:K6<@LG8+R MR9IZ/NKX[$#-]^!0PT4=QWU0>\2B*E(+1AT/[J]_ETZ?.C'J6+$IRJ3(,FXV M93O9LC,(G:A!IV/'0_+,N!%\3G#*:5O7%Q>M2?>1/#855Q0QV_S^&_P```/__ M`P!02P,$%``&``@````A`!]J7-MQ!@``M!@``!@```!X;"]W;W)KENN6S7N_)0M(OZ5![AFVW='(H./C9/R_;4E,6F'W38+WD8RN6AJ(Z! MLW#7W&*CWFZK=9G5Z^=#>>RJ/![+"^^^WI6#?%XQYT?V=1L3[;[C],S!^J=5.W];9;@+FEVJP__.8@-IIP1/AB!$8,1QA=(0V>OC.@3O M+N_M,RMU0-0#1'KF#]9<<34ZW0_.7Q^,!,%2NCW_+$P$&>QOXA`G2&@62CK7 MJ4^\'C"?8$PR""E=3CYR-6#R(_HL#"7/2TA-YCQQ"$SL)6=I<7B7R-XE\FL$ M"A]4LMO#9V$^RZ"B(A%)*(Q";!`N_??+M!U"D@@<3]ACAE"&&NI:'5/$<)#'DDY MD>A;,2HRBH\*!HT^$BO#33A.-A9I]__;1;IN`8DDJS]ACAFBR(7AA$@1(:71 M7LO1^Y\A@FD)82+E.L=()&(IQGJ-)=I>X':)KG-`.^%HN'?NXNVM\'TD M>Q_)KR)8I&T+;A?IF@@41U)-$GMXNM2;.9=*T:648H0)I04)4T:0,(3^DC`Y M9H01/'RKYMCNX':5KI?P51JR4A+FF*%F@O_,6RE]M%.$S*$K"P4].66(@9,_ M(_MNCH"Y,3R.Q^J`(VE[A-LUNHX":23SFS#'N$Y:3+<-ORG1D213E`W#W11% M,=6>H^^EU-Y2Q<)L7W"[,-=%(&%D4A.&.@VH`,JKY4/P?&3.N(:".9;"H=H@ MQNA04R1';YHSP;1AXX+!,FV+<+M,UU`@F:3@)\QO.AB`28ODXLU?ZCW@?M9>L8RI'E+!L:E,;0$7$5$38J0"'JW>'+.0HB*[&7( M)+#.F?.VPZ$5'E_D1+K+8'=7>BB;IS(M]_MVMJZ?[46O@'!X=( MGB?L#FXVI\\SN+3NGR\O`^#.^%0\E7\4S5-U;&?[<@NO"A<*NJ7&W3J[#UU] MZF]N'^L.;HO[7W?PUX$2[DS#!<#;NN[.'^S-Z.7O#0__`P``__\#`%!+`P04 M``8`"````"$`^_>AMW(#``"A"P``&0```'AL+W=O)@7]_OIE99F=V^Y*ESC-76LA\[@8]WW5X'LM$Y-NY^_O7P\W8 M=;1A><)2F?.Y^\JU>[OX_&EVD.I)[S@W#CCD>N[NC"FFGJ?C'<^8[LF"Y_!D M(U7&#%RJK:<+Q5E2+LI2+_3]H9>!,/G!:S1$`$F'9'\0 M8.1'` M&;:8*7EP8-?`.W7!<`\&4W`^1D8<=:S_"Q5B1),[=)F[(]>!*#34YWD1A>.9 M]PPYC2O-\E03M!6KHP)+`7@U(T3>9#R?]2,*BA$%JX!L2[H!WC5;:+WW5#$: MUI(6"62H28+9BF`W72;"1:!K`$3AI/8G2-+T&YI!6[&ZI&@Q@DF3\3(;BN];@E5;,&P*6F2PUYMDW;*'BVQ":^,L23,L"?OP M>AN0G@-F'>5;=EN$PX\0XB*;T-IB2](083!`QG:25R3H@`@?V?N3B(MLQ*A- ML"1-A=@?G2*2H`,B'GM63[G^E>`B&[%O(9+FB#@X121!!\3)1Q!QD8WXMI'H M0R8-(4X`T*XS/>]`&$!?>7\6RU4VXULS(\9*1)"C,Y6N!%THL6DZYZEK+KD07.>ED.2]I MR2,=!NT\GIRW)**^C=^*O15A8L+]?(F.)B(:&#*NMGS%TU0[L=SCM!-"PZWO MUI/878AGKW5_B1,:WO?J!S`@%6S+OS.U%;EV4KX!2[\W@F:M:,2B"R.+&ULG)K; M%J$J**(37(#E$U]-"_.=O\VDJ"EGN7P_^ M);F&"_%7F(G?7O[\X_DC2;]GYS#,!5"X9@OQG.>WN2QGP3F,_4Q*;N$5OCDF M:>SG\#$]R=DM#?U#42B^R)JBC.78CZXB59BG7322XS$*0CT)WN/PFE.1-+SX M.=0_.T>WK%*+@RYRL9]^?[\]!4E\`XFWZ!+EOPI148B#N7VZ)JG_=H'[_JD. M_:#2+CX\R,=1D"992;/9%!Z>3Y$<`>DV84T/"[$5W7NJ9HH MOSP7#?1O%'YDM?="=DX^K#0Z.-$UA-:&/)$,O"7)=X+:!Q*"PO)#:;/(@)<* MA_#HOU_ROY*/=1B=SCFD>P1W1&YL?OBEAUD`+0HRDC8B2D%R@0K`7R&.B#6@ M1?R?Q?4C.N3GA3@82Z.),E`!%]["+#A"IV0!3:/&@.5 MNZ?M(\.UGH,2+DKL4&*/$MXC46L1&>QU]QAT@!X>(S3Q&)D$B.F6?&!%`_#[ M-?]PK:0W,2,V'T8'QFQBIJR.U<"H7*]8-S&VB>',ZG1@ MW`[,K@.S[\!X[0QC)YAX&3N1M<0`1OKVH8N48FS%!U8TP-IJP*9:KYC*G$85 MJ'N1:VNS8JI"%A]8\P&["M1D5:XNFXJI9+=5H%Z(&^N<)H;SL]N!V34P&N?Y M?0?&:V#4SW[!Y!W63$S>V_--:";??&!%`W2)2`8:G0\8?,#D`Q8?6/,!FP]L M^,"6#SA5H)9'A?.4V\"HW)RU:V!XG7T#P^MX3);PV M@K$5+$Q[V(K0"Q%FE+ME!AHWCRXITV8KE-!1PD`)$R4LE%BCA(T2&Y384@+V M5F39/Y(4]J4:3]S\Y#`%N+G!9;Z$3>N,>4T>U'9,`=BVZ:`(BE< M]3SF^X$$&YGZ2ZL+,EZ$W0_CQ6[+#U**]R17HR5EVCQ)B2E-05E=;H6"BA@H M8:*$A1)K2M"JJE7+LG6U494-2FQ1PD$)%R5V*+%'":^-8!Q&'GK6]^3='$9* M\0[C=I=+RHSI#K71/RN*M)A0KXM,J`B;5P/5,.L:JJ:.B`PK8C'(K"`X9%U' M!M.FJMAH539UD2'5X'YGBXHX*.&BQ`XE]BCAM1&,Q^`!VQ<\1DKQ'N.68TO* MM!AHA1(Z2AB4*&>C@33!I@,3E;108HT2-DIL4&*+$@Y*N"BQ0XD]2GAM!.,V M\D26L5O[WJW`>9]Q.Z!E"=$91BNG&'8,695,BQEU'#%PQ,01"T?6.&+CR`9' MMCCBX(B+(SL.(UXJP1B-/)?O/G>1)_\/`]KG%I3O1$H+*%`^^6U>,18E5 M6:+5?O276Q`#5S%QQ,*1-8[8.++!D2V..#CBXL@.1_8XXK4BK/W(8\POV(\^ M_:SO6"?\YH`<(X%%6XRRPA$=1PP<,7'$PI$UCM@E4G8Y1>(>#FUPB2V..#CB MXL@.1_8X0@[A_S_-U&OTD)V>XL5A>@I7X>62"4'R3@[0-1B=[M'[X?[KD)RG M?@,``/__`P!02P,$%``&``@````A M`%]:ESB1!P``=RL``!D```!X;"]W;W)K&ULG)I; M;]LV%,??!^P["'J/;5'W($[1KNA68`.&89=G199CH;9E2$K3?ON1/(Q$'EKF M8?N0YO(7S^5_^-/%>GCW[70,OC;]T';G;1BM-F'0G.MNUYZ?M^$_?W^Z*\)@ M&*OSKCIVYV8;?F^&\-WCSS\]O';]E^'0-&/`5S@/V_`PCI?[]7JH#\VI&E;= MI3GSO^R[_E2-_,?^>3U<^J;:R8-.QS7;;++UJ6K/(:QPWU/6Z/;[MFX^=O7+ MJ3F/L$C?'*N1YS\[NCM=^!)/[;$=O\M%P^!4WW]^ M/G=]]73D=7^+DJI^6UO^8"U_:NN^&[K]N.++K2%1N^9R7:[Y2H\/NY97(-H> M],U^&[Z/[C\44;A^?)`-^K=M7@?M^V`X=*^_]NWN]_;<\&YSGX0#3UWW14@_ M[\2O^,%KZ^A/TH$_^V#7[*N7X_A7]_I;TSX?1FYWRBL2A=WOOG]LAIIWE"^S M8JE8J>Z./`'^-3BU8C1X1ZIO\O_7=C<>MF&UDKS`33\ZZ2) M)L6:9S.EQ-/04[K>Y+?(0BPBBZ:+5#[`+_0P['J8V">,$'/7M.19EDWK0F30 M))IF;H%1()?0"Q3B;6;@=\]UPN\7B M()Q!@3(`#:'VS,S@=F0A=G4=-(3(?#KUVF]'%F)<=U8X%L`B`96YP/&I*!,V/-TNS M%GDQ3:IQS_&T*1&,6YFNHH5QBWAC/#HNU"BT-7!RR6T(12=)DLVYF1/W0U03 MYV^<0CZ?*M3$D;D6>8%-JIT31T9;Y,4VJ<;-MR9.IQLKTJ7>>^$MHO!-B13@ MXM5\LC-=]P)<1"&<$L'`W47E)LGBZU!G/P0Y>11J?#Y'@)%3(@)GF!?DI-HU MX%.4:!G!)!^R-^&;/0>R_(,;@J,_!JG5*5"$8NSU9Y7&K_%HC'O(@G MU11*(D^F-JL!)#./>3%/JIT#2&8> M\V*>5*/*,\P\)5(#&!=+`^C%/$9AGA*ILZRXBYQ,,6WW@AZC0$^)('2T-&_B M+L%_WN11J.OY7!K,FQ(1F!-[`4^J7?.F1)3@7L"+;>!%^7S%K"H'D1Z%\C*A'V_#R*&S`?$)5:0`B]31FC\PDN$:?@MLW,[%0.PT`$24X0IXC.%!, MY_X5`VS4,T)-JIP%PH4QL(.2!`';P^A5+L,4")*<"_^)4)M[GW; M`"72@[-BX9HC$;C2;JII!LBCS#18@2]ZE4A/8\D`Q$&'`8`V_E5[>C83%OB7 MD/F7\`3U#CB""[59^14#0*17SHKYDLQ`4(((2#3`)B&_GYNN+U0/;!+.$C,) MQ$%'#P!M#@/(_$N\^"?53@-L_K%B'A&S=D1`H@$V"5F!3\*)3<(E`Q`''08` M_QP&@$@?PH7@J1?_I-IE@!+IP1X*$"27 M)IV$4\1!1P\`;;=W@%R2%MR+?RF@S6&`S;]E`Q`!B08`Y/0T6(FO@E*;A$L[ M`''080"@S6$`F7^I%_^DVAR]*SO`YM\B@C)$0)H!\B@S#5;.UUFP`Y1(WX@+ M!F2(@[<-D&H7@I2($EP0C8R@3*A1Y=:3%R6")R_EXN<;F2`5/3)PS1AZZ]&? M7%)L?/&AM7999)SW,T0]1[NOT,YZU">7?/MP(RXS[9[$#(U81QPW8)Y1>HDO MNC,041SW8EX&.+N]WY6($AP1S]%\FW3V?L]LTK%RX:([0ZPC&@`X,PV8-[/: M[V3F95[,DVKG?K>9-^=GC&".B'?;`*DV][MM@!+I[K-RX:([1ZRC&2"/,M-@ M);[H5B(]C:4>"(J1R9,+M?@5[%G"52#WJYL2=[@=-ZWEV'F4+ M->JY!=P<1.I1]Y+GB'J.D;M".PNX.8B@XIA_AC[CT"P9L8XX;L`\<[_CY[TY MB"B.>S$O!YS=!JX248(CXCF:;Y/NRGZW2;?XE"-'K",:`#@S#<#W>')ITE5^ MX<4\J7;M=R4B&,!?9?38=5)M[CK;`"72@]M7N/#^([P>>&KZY^:7YG@<@KI[ M$>\V1OP2:?KM]-[E>R;?G)S^P%][O%3/S1]5_]R>A^#8[/FAFY78?3V\.`D_ MC-U%OGSXU(W\A4?Y[8&_X-KP5_@V*R[>=]WX]H-X-7-Z9?;Q?P```/__`P!0 M2P,$%``&``@````A`($V\LK]`@``8P@``!D```!X;"]W;W)K&ULE)9=;]HP%(;O)^T_6+YO/LD'B%"55-TJK=(T[>/:)$YB-8DC MVY3VW^\XAD!"Q^@-D/CURW/>8TY8WKXV-7JA0C+>)MBU'(QHF_&YYM&]HJ8R)H313P MRXIU\N#69-?8-40\;[N;C#<=6&Q8S=1;;XI1DRT>RY8+LJFA[E=W1K*#=W]Q M9M^P3'#)"V6!G6U`SVN>VW,;G%;+G$$%.G8D:)'@.W>1QMA>+?M\?C.ZDR>? MD:SX[HM@^3?64@@;VJ0;L.'\64L?5E[H+NT7 MR#3;:];GFHDB/2AT*P!O8(3*3QG?3_V`HL4:17=!LZW-#?`^LHW)TG-%%`Z2 M$0DD=$IR2.LRD=X$J9X"A-[@;R"-9G:B"<:*]))BQ`@F'V?4FQ(,01Q#"OTQ MP=IHXGU[XRAVI@TT"G@=7(Y5C!CAU)\R7LY/B\=L;AA/V(PF[-D"QPEFX_74 MK%]!%GZ$3(NG9//Q-Z^-QI#=S)W`FZ(9P15H\/.Z/C0MGJ!%S@3-:`R:.W?] MV235]%00SX+HN#[JIG[*O3-#+G=5;QH#>N$DFK71[$]<[,=A-$D7AKYVN12> M&>IFYC54E#2E=2U1QK=Z8'MP8H:[P[/DSM/C8W)_#<^8?B+;PP+,^(Z4](F( MDK42U;0`2\>*X+0)\Y0P%XIW_:3=<`73O?]8P<.&PO=V]R M:W-H965T*Y.*BSI!Q`^0 MQ^I49+S>).CWKZ?1#'E*TSJCI:A9@MZ90G>KSY^6.R%?5,&8]H"A5@DJM&X6 M&*NT8!55OFA8#4]R(2NJX59NL&HDHYD-JDHLD>1 M;BM6:TUD'1= M@N\W,J'IGMO>G-!7/)5"B5S[0(==HJ>>YWB.@6FUS#@X,&7W),L3=$\6#V2, M\&II"_2'LYTZ^.ZI0NR^2)Y]XS6#:D.?3`?60KP8Z'-F?H)@?!+]9#OP0WH9 MR^FVU#_%[BOCFT)#NR-P9(PMLO='IE*H*-#X86284E%"`G#U*FY&`RI"W^SG MCF>Z2-`X]J-I,"8`]]9,Z2=N*)&7;I46U5\'(BV5(PE;$OAL24CHA[.(1/%U M%NPRL@8?J::KI10[#Z8&-%5#S0R2!3`;9S'4Y[PSL&1B[DV0#06T@G:\KL(H M7N)7*&':8A[.8#H$!O$N`U`]S."RL@$G"*X'RM..UV;WX#"3`TS4(7K*X[ZR M\3[Y;U?WWDT0].^`/8QF';_+P&$&9`"0X=X-N.^=Q.1(V6%FMB=!]ZSG&AP. MUS3@8\VPXW5N'69R23.^1=.`^YIA-#_2=)@!%9[VE8?UV`1=Z['##,C`+(&# M-^SR?!MPW_MICQTFMO4>A9.`C#^FH-?I^2W*!GRL?-QIA[G8:0*'QW"[%MU7 M#>./N77SU8(&E)J<.;W=+-PVS(A-S#E\>I@FX"C(:);-E!*200#PJ>0I2PUP)/ZHVUMZ MJ,X;%V$@$W!ECVD5I$Q259(KK4C^'X?,1HJ+6(T(M(V(:6LSRUXL7U%! MC0JTOQ[*K!&!M@W%>GD^,//:%&A;$:0M;7LV7RZ>=V7>J$#;J%C6ZRJ+1@7: M7W<%JKV>$+1M*,;3#TCG*5-GH!=7\79=DIL"90U)02\Q6R1,!Y3;U..)GK.PCKSN+!O$ MG&T?M\L[%O>.G=CAB1U^J_&8(?/^/((Q9M%GPC%&J(QHA+&[3.CY`4OBZWZP M01L57.]*Q.XRN2XCES/SNG87"(E)QG^&S[N$D!R>E/"E1"`E0BD1<8)/9&6O MNC![/L(;0/311-`Y7;)LE&BD4&PN9R"*GSFU&Q+(%OSVADPW$;[N28E`2H12 M(IHB>H;""U(T5+X$LD&BG]U"P!.3,U-^2@E/2OA2(I`2(2=XYB%S.4==#==3 MB:8D>F;"@O^ZF6R0:*:0-"YGILR4$IZ4\#G!C9BCE6D+BV+P""P1F@LOB%!Z MBVB*Z%G)SD@/^YOI^F:P:*&PZ+NE/`YP;V$,XVP8`=2@5!*1%-$STHX M1KZ0CS4MFB@4B]M`?'X+S1!29=?\/N&R)T@("KY<(9`CH1QAAVR6-..A?=.!_3]L!85^UW)@7SCLWUD.;`^' M_9[EP"X1^O6[$)S!+_$)_Q&7I[2@2H:/$((!Q:HJ)3_%\XN*7.J-_IY4L!O<_[_9_@\``/__`P!02P,$%``&``@````A`'FO M[>E``P``9PH``!D```!X;"]W;W)K&ULC%;;;J,P M$'U?:?\!^;U<0D(:%%(UH.Y6VDJKU5Z>'3#!*F!D.TW[]SO&@6*2TKQP,6>. MSYD9VZSO7JO2>B%<4%9'R+-=9)$Z91FM]Q'Z\_OAYA990N(ZPR6K283>B$!W MFZ]?UD?>5!B+2`H181*J1L0L<1:4$J+&S6D!J^Y(Q76,(KWSNBX01G;5!5 M.C/7#9P*TQIIAI!?P\'RG*8D8>FA(K74))R46()^4=!&=&Q5>@U=A?GSH;E) M6=4`Q8Z65+ZUI,BJTO!Q7S..=R7X?O7F..VXVY.5P?XI>-X'7Z_`T6[:Y"18XLV:LZ,%#0=Z18-5^WHA M$'=9T1[Z/'V4)LB/(KE7+!%:(@LR(*"T+QM_L5H[+U"/](397L#,9R8F[C`J M_8HXT0-P?2>>>WV0`R9Z)Y#(H9/+=>T$*[`2W$VT[08&$P5N/U$K)M880TSP M+D8+OH3Q>QY#,-1S*%BEWH>VGA:N@@SAXX%8#Y@J1WE.IC&&2FB*HF-JOZP\59'I8OK>?+H"&3%G0",]M/;CVN,<__&S( MA]W@^M0KL"G;#P*S+;8:,.C"90A@^5J:/Z96KP&/]XQU<8W1G^]#7X\Z.-6!H<"Q^"J'% MZP-:9F66%.B0-))?1O:XX`!P[IAEP&[[3!L*]`"NW2?)EN'K0/Z%?9( M2K(8RTO2!AO6U8=$(G]\_]_C(W7UVH.(H4,B).5QVZM=KGJ(Q#X?TSAH>W>& M_4L;'I(*QV/,>$S:WIQ([]K6^^]=Q9LJ)!%!L#Z6F[CMA4HEFY6*]&$8R\L\ M(3',3;B(L()7$53&`A\!W8A5UJK59B7"-/90C",@>WLRH3Y!0TW2V\J(]QB\ MQDKJ`9^)@29-G!4&.Y[6-$+.99<)=(A9VP,^8WXT)`^4AQB6"B;:7M7\O,K6 MU0K>3! M`6#?!TVM+$6:]?Y&K9/1+(#LXS+M;K51K;OX`OWU)9E;G4ZGT4IEL40-R#[6 ME_`;U69]>\W!&Y#%-Y;P]?O/R\1?E>%G$__K#)[_\ M_'DY$#)H(=&++Y_\]NS)BZ\^_?V[QR7P;8%'1?B01D2B6^0('?`(=#.&<24G M(W&^%<,04V<%#H%V">F>"AW@K3EF9;@.<8UW5T#Q*`->G]UW9!V$8J9H"><; M8>0`]SAG'2Y*#7!#\RI8>#B+@W+F8E;$'6!\6,:[BV/'M;U9`E4S"TK']MV0 M.&+N,QPK')"8**3G^)20$NWN4>K8=8_Z@DL^4>@>11U,2TTRI",GD!:+=FD$ M?IF7Z0RN=FRS=Q=U."O3>H<],9&R;,UM`?H6G'X#0[TJ=?L>FT M1.[P:3?$45*&'=`X+&(_D%,(48SVN2J#[W$W0_0[^`''*]U]EQ+'W:<7@CLT M<$1:!(B>F8D27UXGW(G?P9Q-,#%5!DJZ4ZDC&O]=V684ZK;E\*YLM[UMV,3* MDF?W1+%>A?L/EN@=/(OW"63%\A;UKD*_J]#>6U^A5^7RQ=?E12F&*JT;$MMK MF\X[6MEX3RAC`S5GY*8TO;>$#6C\S210*:D`XD2+N&\:(9+:6L\]/[*GC8;^AQB*X?$:H^/[?"Z M'LZ.&SD9(U5@SK09HW5-X*S,UJ^D1$&WUV%6TT*=F5O-B&:*HL,M5UF;V)S+ MP>2Y:C"86Q,Z&P3]$%BY"<=^S1K..YB1L;:[]5'F%N.%BW21#/&8I#[2>B_[ MJ&:+T5';:S76&A[R<=+V)G!4ALZ%8J MNU'N_*J8E+\@58IA_#]31>\G<`6Q/M8>\.%V6&"D,Z7M<:%"#E4H":G?%]`X MF-H!T0)7O#`-005WU.:_((?ZO\TY2\.D-9PDU0$-D*"P'ZE0$+(/994FRE)")J(*X,K%BC\@A84-=`YMZ;_=0"*%NJDE:!@SN9/RY[VD&C0+= MY!3SS:ED^=YK<^"?[GQL,H-2;ATV#4UF_US$O#U8[*IVO5F>[;U%1?3$HLVJ M9UD!S`I;02M-^]<4X9Q;K:U82QJO-3+AP(O+&L-@WA`E<)&$]!_8_ZCPF?W@ MH3?4(3^`VHK@^X4F!F$#47W)-AY(%T@[.(+&R0[:8-*DK&G3UDE;+=NL+[C3 MS?F>,+:6["S^/J>Q\^;,9>?DXD4:.[6P8VL[MM+4X-F3*0I#D^P@8QQCOI05 M/V;QT7UP]`Y\-I@Q)4TPP:&PO=V]R:W-H965T&ULE%E;;YM(&'U?:?\#XCWVW($H3E6HNEMI*ZU6>WDF-HY1;6,!:=I_O]_P M33P7;&)>VC@17_\_?G MNS2.NKX\;LI])=WY_NE\MNO:L. M9;=H3M41GFR;]E#V\+%]7G:GMBHWPTN'_9(1HI:'LC[&&.&^O25&L]W6Z^I3 MLWXY5,<>@[35ONR!?[>K3]U;M,/ZEG"'LOWV/#D*!_Z^JU7H[>_CQ4X,\VVE3;\F7?_]6\_E[5S[L>RBUA1WIC]YN?GZIN#1F% M,`LF=:1ULP<"\&]TJ'5K0$;*'\/_K_6FWZUBKA8R(9P"/'JJNOYSK4/&T?JE MZYO#?PBB)A0&828(!_;F.5NP5%*IWH^R1$;#!C^5??GXT#:O$70-K-F=2MV# M]!XBZYUQR,_EG<&6]#L?]4O#JX#NH!S?'YEZ6'Z'#*X-)+\`\1'%!41RABR! MWIDC[-SE.,U-@V$/<62YI>>P`_T<(<*!2!]13"$\:K#.[=0T>!5#;$LM\Q?. M$9(..96*J%3X@,(%4))D7-K,>\Q@>[%;@,X6=P-)4 M6(#'"9K]=DX:''"B`2>$X+HTE2F3`:)P$4PHFH@KZ5)SJ&EP0(T%U!!B4J($ M(2$S#\#3)+.5]G*6S"&FP0$Q'A!#B,D9H:E*`D01(J2#\*AI>W.T8WHN-3B@ M9G>,"`IA8N0@E!. M;%:]G%$0U]N3-J!]->.V@3%K!@,S>):5@'\Q"?'I7?`#`4,T75N*6NXJ&[=: M;F@BQDR$8()F87E-F#<(43*S4^/3U`+MM)ZVK1MHHJQ[-(-"YA0QR$%QEF6, M!IC"QU`N,G&UW+,,@HX=@@=)R@T&"5(X0E!';8=4%QXDY8*F5_28:N%VTOA. ME5'FW?2%2^=#Q%5LTJ<2*:0,.J'P,4)F!&3YK%)^G;5^WTX0U=XC:!O(M*'K M"`G)DC3+1N/B8E26950D=A,^P5F^05'THAB M^PJS9\*8_*HT29USEY\]K?,W*PM#5_"4Q>[;T$.,61M*EV4JP!0F#F(XE2)A MTO:(3W"6<["Q@C:0)-\8[NC4W#$033?JXE)"JT MY()YSUEJ6],CJ*]U;E>\`>W[A7/3@,0,!@=7<940N-,Z9P?+ZF$$'*6XY%<4 MCP>.<=M=U/!60#1T#H-!HG=2,ID&(E1,0OP\:IV_V3DXNH(WOE:X3!X18^@Q M`FE*9#B_)I`%*3A875$8/LL[!G20P2`]N<'@ZH(IIF#YL-3H08AA:4:)NN:^ M7-N"D\,;2ZW?\HFJH-_R(?+;%Y`KYWL/,WV^YUK6':+3TSR@`X)V&DVQT2@N MZYR9F2F(WXNSK(2CE4PJM<%,TL,PER$^O5E&`C?X87E'2FTP>$%Z84@P!#ZV MK8&D\'H?;[]/Y7/UM6R?ZV,7[:LM:#59:+5N\7(?/_3-:;CE?FIZN)0??MS! M'V$JN`(G"P!OFZ9_^Z#_?'#^L\[C_P```/__`P!02P,$%``&``@````A`#FF M:278`P``=`T``!@```!X;"]W;W)K:,-S5FUTLC!UC58IR_+JL-%__7QZ\'6-BZ3*DH)5=*._ M4:Y_W?[Q97UFS3,_4BHT8*CX1C\*4:\,@Z='6B9\P6I:P9T]:\I$P&5S,'C= MT"1K'RH+PS)-URB3O-*18=7,X6#[?9[2F*6GDE8"21I:)`+T\V->\PM;FVZS9`_^7TS`??-7YDY[^: M//LGKRA$&_(D,[!C[%E"OV5R"1XV;IY^:C/PO=$RND].A?C!SG_3_'`4D&X' M'$ECJ^PMICR%B`+-PG(D4\H*$`"?6IG+TH"()*_M_W.>B>-&7[H+QS.7!.#: MCG+QE$M*74M/7+#R?P21C@I)K(YD">J[^];"\AWBN)]@L3L6^'^18LV58J"M M-DIQ(I+MNF%G#4H/A/,ZD85,5D!\"0^:Z0/V7KP@4)+D4;)L=$_7(!0`M1$-$=A#S?5$OP5*]S+ZT M$ZH+D;H0X\)0B$MZK2,ED//Y2B1XHP-Y[\]=]K2H#2&0JA[BC!$1(H(V#>3/ M!X4@?O?V2#9L,%^V!"NR[;&H$"%3LA'AMK(MQVS_QB3Q)&0D'][-^?(E6)&O MQ#1$R)1\1*!\V_,"VS45]4.$YQ"?7#<9:7<_HUV"%>WN>-\0(5/:$3&E?8B8 MT@Y'P/RX2["B77GA0X2\5\O1].T8;]]W/@JY[/:#4W#ZN)!@1;:OA!PAXUI6 MRB&:@8D1,\-`\!D#$JP8"!0#"$$#GFLO"5%>Z&B$L'Q"'"4(,2)FB"?0U>>' MOT6/Y7M*;,,.,Z5_#+EKH(/,<2`;TZ"`9!NUX7V?+B2"[6QXW'O7+H+'?8?Q M\30/S"#PU$R,(9[OV*;"$G>0.4YD9QLX^<`!]L&1@VM'[AP@IG-@^;;EJTTM M(B.,Z;A>8"K'6-QAYGB0+6[@069C"37V@1=LC",O2N\,85*5K\Y]#:W=Z&.( MG'"CA,(MC6DF;`XUH47`M92D16,-+!N]`_`S%LG!_IOTASRBFL%W<-6YL*#(FYP:L8+P>IV:-PQ M`=-N^_4(OVXHC$WF`L![QL3E0F[0_U[:_@8``/__`P!02P,$%``&``@````A M`$U?`"#9)```_'<``!0```!X;"]S:&%R9613=')I;F=S+GAM;.R=VW(;R7G' M[U.5=YA2R1%5!5($04J4LZL418F.;)U,:M=QN7(Q!`;D9`$,C`%$<2L7?H=< MNOO?.K!-__R:3J)/B:+/,UF MW][K[^W?BY+9,!NELZMO[WWWX6SW^%Z4+^/9*)YDL^3;>[=)?N]?GOWC/WR3 MY\N(N;/\VWO7R^7\UX\>Y]D\F?%FG"VF\9*_+JX>Y?-%$H_RZR19 M3B>/#O;W'S^:QNGL7C3,5K/EM_>>'K'-:I;^>96#)_OWGGV3I\^^63Y[ MD0U7TV2VC$YFH^CE;)DN;Z-7,[<^8'_S:/GLFT<:ZH8_C=YDL^5USM!1,@K? M7B3SO6BPWXL.]ON'X]J'_8_K($H[9W]*?7Z2R)7BV3:?[OX6H/P@?E M"A]NYTGX\D%_?_?WX<,3SCVRLY]-XJOP[8-Q/,D;"Y6[O$\6:2:,C:(7\;)[ MW%F:#^-)],=)GJT6PR3O0?KA7L=JIW#)@J.\@O*?HM\EM^&X!_OVO^.C M_0;M3U>+A9BLCHTNU#W8W>T?[`[ZX?+^4&?I)%E$I^#\*ELT8;B8QA,-.$_F MV6*)I$6GV70>SQHC/RQB"6)T<3N]S";A9@]>OCW_;?C00\""TVP672RSX0^] MZ.(Z7B1Y]&ZU-%%FR7#::0;&9GDR`I19GDW2$<"/HN?Q))X-$Q9`J;U#3H7*`USG.6^'4X]S3.KR/42S34'Y(_K]*/\00R-'@0 M!E@NTJ&@TM!PG9.AJ9(\6B3#A#4N)PU>>C7[R,(M!'D3+WY(EIH2Y-$N643:.XB':<#4Q^HP2(!FF\1(UJ'?W^[VG^T][3Y\<&IC\]]PO\&H[]*)C;B*MF[_XL4_Q=/Y M/Y^XK0]ZQX?\\WC@]][O'3U^`CR/PY._6U[#_;/&^<-Q#HO;CFO'7D_3*B!SN^SJ;7>TND\4T&B67R_!M$X%W[.H&WS%`.B5="J`\,KI+ M5X@WC.18,_;%*T$5'^SUTO?Z) MI7DNRDJFLTH[1D]ZCP\'O7X?,5I&>`R8]TM8MG`;;/R3WL%QO]<_.M885*`? MTJ$&WZ,N=M,9NFN>HAM"O,!BI5!G)AY#3,(BN4:]B*E2?+*F=3Q':^%^C**= M43).A^FRH9H=40U))=:E9)<=W%DCOQURFYD7\#ZZXR0*Z?:G-X:3AE^TI;%Y MC]'"CT,,\$X>=AF?:E//"B4/A#ANC&RPQ;8S'-=TC[X04V(T-UM=L]*;`%]G M]8U0MPYO![EU:$T0PB/6V12#6-J>'@(PGT`IS)!DZ60JQ^9'4UD]^,(,S"U_ MPIU8]FR(9'\N91+NX4??;8Z:D]94!O"D'U,\FE%TCJ%DXP3?<;:,KUKT2*OG M<[%DGM-UV-5W&$@[3* MOO0N2D/+OL"Z#/$HW-$P^[+X;6Y/C>&.,T:[?BU M'C;P]&J&?<7Y+)R]<)G?H(*CG4F6YP\CV!_+YCV!#1O:C'`Q=RYG`4+(PK%O M<1**,:V+50IOY*6A`5)C#8P9;O;ERKG#RPRNJ'24-R$;`8G@J7*BM&!T&>?I MT.1^E$Y6./'A&G](TJMK.?TVHBQC:@S M"4(0#V&[K@"@E`1WDD(80B!-_??@/.E#%S#ZF4Z7R]K?W!2^2Y7)2Z:P[9C:VW!$3/XS$11MX^'4Q),V)AY!M8!S7PI3P M,*?7,0XBY\8P6`1HJ*NY&0UY"VF3$K;E%B5WT^8]J8'K.$\V07,R&D%;$07. MSEICH/``F*-ADHQRITTXL6WR-7/O0I?D4>$M?(A]E`ML_/E\$N-0G",;C6Q7 M#5TKQ>\@>AN,U:;9#N-T1J2OZ.\.+,>WWB+.8)6[`H_WM9&S;)G@F+=&5B\* MJUUMWVJ%UHEPF2T6V0VP-OAX?5Q!+/P4'T^8IQ52N'`5B(05TZ/#-TSP2I.4 M)AR'ZXVX\J>'0KUH%ZYOJ-Z-+LETS69`W?$>9Z7EY<5JCLD5VI&U$8DZ9'2% M.6J(36FF=(AP"\LUB*V4:0F$]1[FC-\8*`')! MJN5#$-XMKN)9Z1)662:&FDJHS]5:9XXA.75-N?_IY%+)PN&R$5.\%9?UH[__ MY;](6FT!SH?KA(1SO$(?<-IAF?[B3U7ZRW,E,)`WJ[F#'4G):.?O?_G;3?+W MO_QW#T#^MLJ+/Y&Y+/[HI_)7.S7#\,'GY/YX\C"Z1L)AE,18D$#&R7-,%F8Q MLD3<3;J\CKZ;&="&ESPB_,9B3B:WRM8H5,6&EFD;6!D7(86%4G%3.3#I% M99NX<[*T2J0;1+8#41#P-!S&L\PZ^(I_'\\@AD14XSP52FXQ1*F@-F%-(?!4"1,K0%ZOC* MRV/7F#6_SE:3D4!5`49D@<'_8S4SLD8EK2MVJ,U5(#?.LN4,T<)@DK-+@`%V MFJQ&CC'A:VHRLQ4T<+GLDDE^5V)Y[(H+!BXJCHF-7$DCF]^6.7K'7IN%TT-G MF/)2X,C/[!O)$E$ MPA[A!NM?/F,FBK\[[LRIR@EW';FH8J$[L1R]HR!0YK(.GKA\?2^Z22IOHP;A M7G1B>H=S3CA$-D,>Q(`5KUA"'/'NE5*Q+FAB(!G$R'G:O*PM7S+(GU?Q`D'T M!VPP!^`A[G6N$Q"ETOQKO@57;(<>Z1K3CX0\L5\5QXS!,7 MWH6/WU/:::1F:O6JIM((5[@?/OB-`JYFH'DJ.TKYK>$CO?Q$CB@%J>%"N^&# M.ER50!7)X7#TF0R;I;"C-_B)V"=SK+8<%FT@[,!_:')%)H'PV]Q:I$W,=L9M7-0BZ4/99?X@S@U)T(Z[ET%MRR[_*A M8Y1"899Q*6$BF<+`DY$HFQLCE(CSSDJ_1,H'LRDMRPCZ#Q:CZ&V&C>L?H;D< M]CB1_O^>?Z6/*/__J.0_70S[]_C;,)LX0S_EK'T]69RA8=V0#^D4F_8VN8G. M,SP3O1W'4YE\MX(>/+*%E\_N=6#W7@.(_QT`VFD6[=P[N3B-/N!B#:/C@_U= M3OT0](0/(X)G#%A*\P5R7"?2=8K?2-PLM0[YS"\A.O[1&7O(-:@#9*U6O\)],O^!9U=`46[%QIF<<'/M6.W/*SP- M%5>5%7'L8JX7:HGZK'=@2>I:0:!()T#C6C8AVGE-)G5").#A,EE[:-I;S(8* M:P*072H58U;>']JO,EA?I0V[*KS,@-;<5\?\*$MM9<=PJ+VIG#`5IQWBPZ!.,6(Q&P`JUBI/)$]58PH!D(3M$B4F$?TUX'N/X:@5])-(PE-+>^%<`9U'INF@&`*G#UM`(XHZ*U,"KJ M.*&!*)BN&B7YD%PF MZ+Y,(+PW72B+6K.09Q=(^WW!Y;D/@4'>+\&1ADEH)[ZE<8DTE='$E:--!-"* MA$*`@!X&TI1#4XU<6$DWBN?S1?8II94JX+*VPF3#Y7#'.]CJ>"))CC=#7KY= MN'H!/C1!19:[Y!&^+<37(0)G;D:495DF"C,L462[G;J1*K(`KQ)*Q@Q!($$, M/88C&5J,;'QC<(R7$R*`2Z(\U:-P07748AP M^%>(P9ET!GV;C+Y]YI!$M2ZV6M"3\*!/W MD4`D6TEO3,2.IHA=4AE8+1EB9\L[:#_8,^?#3\,2 M(PYP=J'="W3GY)FHV4E6;L&*,LFBS2PK!-:G!%\4_4J773V*IU8T8#N@**!Y%UG`\D=0S>YGH?$%'=,#P\G4ADGX!B6 M@%6=+:IO*LPIV*@FF9J6JQ2,A;!@@SHX+I#18V=^:D MR,'@DV9P+"T@IF1*<9AA]!820+P#KVO%YVR\FKIXK2Z3XY723/5S6-9:0\:< M01DOJ2@OI7C+*3JM\'(6:?[#[E@!OP6;E&IW5>6SS3=$,+>'08%YG,Y^\? M]NAN7EREDXE_)F6IY4CQXPE\2#ZA?D]=JQOUF!FT?+MWLD>N4>4!1]>\99@1 M>I*+VFA,]*@,_>H>VGA@!&"E\B("0(LND M(I`V56GJ5D1LVZ`EB_M4FZ"I\4KI$10)44]0W.6F&FR8@@^XIZ%6LEL2DUL< MG&RBF"]\_UYQ^*/GEXUFQ9I;%,XI"[K(YS1=32/YC_A6^>&K- MFFS8`*5RC.2HA?-8\(A^?/X=OCGJ'=/^V;;BTT?]@C]GTJR(T)%N%NP'[8#H=:N=O7!(Z#=CCZO8/#]CG]WN"X_8UG@PB+`!?0 MH&(B=1/VXQ"02TO3'.A$#HV0C5K9USP%M$`M7&=1N3-*=J#9:EQ=.>Q(HRU< MS%[S_RSD4/8&F4".J%\JJ>K2+999K-6D4`C$=>5(7#CECGPFY-)?:+"K2`WH MK9M:HH)=;W93K[_=Y!T\QCM8GQ&2_B*A-KI`>CDR3H&SI%%A2,/1[V;1N^$R MLS9DJ]S0:"S==^J*%1TUK,A57!HE+-./[56LG7O/K;^"#NU[#]==%@P,IL`* M4=*OY_BNJ+42],KI@9CV,;E7F69R1+HF0Y>9H`/[^ M#^)-%-XTOL608=+E#LATF4MCV##35S-\IL]QZ5U_*FZ'Q+6.6DP-@O91RGV2@<^Q]YN< MB^=,):D,P/GM"G=@(%+O'^,*@0&9NQM?>?1]Y/;<=P!@9ISAQCMR!E&>3OP4/2Y+*L4IO3RH$Q;&70)(0_)Z%@/;:8(QRUZJ\$ MJOB-EN"A%0]O@A.?,=`\M"=G M"6S!@#.0E->.L+]WM/\KP__.I1LIZCT00XG=M(D#;OVL^35>K3*RX`96+KB% M>05)8&GXT,%6N"@.YA+2G=3M^'*%NR_G8E$#K/:P1H2=U,^I<-5*L6VHL)5\ M0)H:)"3M?,^6EUXC$%=*T6(WF509KJIQ2YY^R2'6!3SP9\=_5@OZN!<&T_F*:0==&?B7:[^\].?J5 MP;3.U9XU)7X'>P<,8>S`)A7.YSIY_?ARYH`8,)HH&J? M\)XF;'K(N'9'^0ZY\V;>)60D9_=K%W7*[(Y$R1&X`LFW',$*0FKA7FN)<]*/ ME%BHAB^6M&E`?YF,<@C"6XB9@5D`D`PN)L$I.8Y3%:H7-&975"PA3["IZK M^*>4,*&W'7/4P)?/5DYN`."U@8M6 MQM:<8FAVN5+'_L*8%@%MW-)5-TAAYN7(J+F11`"TJ=4XBS1T.9*>VYS(2'YH MFZHII:!R`<=!SRC8#8 MRK:PKZ-]L,8&TC-+,HP!(`&(L$%UT.#+S\H#NDNLOB^SCD1QQ_V^NS1J>M'I M1%8J\"7S)?4Z5`H(,6)D;;U+O?BG;"5^H-9+K&^@BP"J/@E#AR M6AO-8(&.U/3'YM*5PBDR3:9F2JM6J'#+5#:8QS.Q7]=,0,'O.FP1DA>+.&<4 MH`=[@_U?[46M[9HSS+U7Y/VG!?\U_8Z+]-//YP_CCG"%#=QAO!%2YA5A=1H[ M76%(%ZY]%T5!U[Q4\.>#'5O7Q%M M(_6`L+XAJCUP1@]-W((J,M3J$%TS>]L+DT-68XTU=$F3$+:ZGDHV*\Z@2P!F MC^#BU5Q/R7=9GHQP!ETJ[M99^SC3%Z"2)R?1J;O1+%6/'-OA\G"\;FK\=F9O77E MA7@6)>'RQ,3W:%D369=%6J,&N@Y5A[.H7B]7ZY)]H<)NR<7UW-QQB\DD45=^ M/D$NX*GYAN1N]/$$[BL75WLV)1:?D%BLK[7%IQA.3$#;<.BI#L7J.:H4'?8Q M&UK+!/=]R<:(0;T"A'*P[I?/901'%.&5@;\K%/HG+A%X'J>310:+&?!V-=A% M>,T=Y(3Y-E/C_23J7,+E>0C\,>P8>Z&RNM'L0'77+'0"MXKYU%4YC:Q`0JY& M_`<:S!LWI_(6K\$WD#6TU+ETH[\Q7(8T%>]NZ-:'Y0>X^QCW.6"XWBXD@:#" M:@^@%O;@;X]-PP*$RKZHT.K1H06*=E8>X5#RZ*@^BJ;<^T^K MM1ET;"[(_2=K,Y^V2,9+:(T._(!_7-Q-"S6:'[*A&?K8FJ&W6`YK6T0]E9EY MTAL,!L6'0=RM`_=U$%0;.:HH(2K+;KG*7FAK&!F6HR-*]G(Z+_KU'5>;893C M210G9P!M;^)A#9A&_?M/]O:E^F0QSI++A05A+D5SR'@KM^`4T*$;]<$N&,46 M/NT=/3UJ`U+$@INJ2_>YOUZ,+(F^*%'`N$Q(/V*K7>#@#]`*L))II=E71MKE MV%Q^UEM]\3"G.-IO",C+*LH;.]DB=N7JH@MD_6>M$,_BX@WXT_>J_,4#YPL5 M#?5.?Y?(MI4Y31SU=SGT;O^($Q(YL[:;GA,\+WM*U3C+EM`ZX#"F<[?NJ(/@ MMI7WKIQQ&5HLZ=LU5&3$XV`%DLDT%*(>=%M4HBIA5)F)ZVSV#2F[\<[`^J'V M*,VC7)*55ACK"J/<0+><87/]E$4OL+]QWS7)7:]!5V)GY6CT^^0H+7WLU_2V MG>.9N^$3.JYP1GLLW7M0MLRNQ[7B#FK'%7<46EB+'\D[8"]F&?BQ([-":/B[ MA0P-QI#DK7?QB-PW8&B1]LAP'887'G)YV5.^53B^M2B>V?`:A0/` ME!EGN=EN\HF/2>AUZ9?.2Q?4^&5/EMB'.%#5K,.87A:FL([5FWXB3(Z4-=() MF(UP,*)@../8ND$V:@H2DI`XN!(PH<*AEJZIJG7N=-N7"9%Q;;H`M5 MIK:$5;EZB-PR%;^GTRG])O"19,+J75*8$*,X4+0SZ!_W'@_*#S%YNQQ?87KY MKE5".XGDR))HW.IL`;D3HI+WM:'Z8^GR6,*D8@3[-!)J8*2O7XB>.Y\4.5-U M\?U3CL`XOO9!*I5@%BFU`82I,TNZTFOWE&3_,M[5*7=GE7FH%# MVL9HW]RTT<[M0[SJ`86&3JDX\-^EM/#/]*4TC"O/W1`HX&FS+FTE@#A?T=0Y MY`C$4YY9'P^>DI9\$I"Z\RP@@MK(^H%@%`=CI47,Z%\M].$'#(S[&(*&X;$9.\5#C=:#5I#.CTQ[E( ML'SV5C6-I[CDC7G.A='])']%Z?_T=E!1"5J_[4"X9HV(+@B3$<7*ZVH!V8]) M9+D!60KG>DBB9/B=E!#W\-%#VL'$V.$]+EV_.#ZB"2?T!(2C]OM+&((B9BH^ MN+IN`LLO8&#H5:0K*M]E(`<:K[ M9.1?3W4Q#)/C0H?YF@L^<,D_L3,'U@+Z%@U_9%3AAML\^Y`<$1QH&Y%CE;GX M\GE),9(V5ED.TJY,*5HQ71<"^'R;9I=L\ M7&<<[RT'C,--!C')B`_`(N;G&?Z?RA#R/IT/;]4VOL>AL+=BPT)G8(RNH(9 MVLC\1ZW^EU!VR;G\]V#*&I7[N./AS\1H>;)"X14%CO(D*)I.G,(8U0(!7LL7 M1N^WWM`H[[ MJ.U["XP1`OGO!/\7NH!#,;"\)75'N[Z[%'".IG5WJ:/J>DLG!*?5'8H[IC>\ M@0]P=Y4*_OHK&>T'[(2Z-ESI0H6-#1#7"!7MU$AHX8UWI/@XW^@'+V7ZN6N=#%FAF-5QW;YXW7GMOAC0>?V^&+`&UDL#CX*- M?9\ZA*GX^$#DOS:`ND9I;S>J_I7L+8[?OE74@8V.T9W(Z1C?B:N.\6VH\YVP M(5(Z)?OK1'@S]U4;ZTJ!NP7I+^=VP]AS%]#PU'"/_&4]RWF=J\'6W$.- MXE-8&#__@"XL5.Y=W_#O!JMQJZ][Z"`\P1TJ*-K94E5M1BD')[-!*L-UF+WC MLR)>"[ZB-:#[CN#=&'$3NVZ553Y`!X/=/9U@F>:D5J&NZ<*:;9!6*VU&J2,W MXZ8V:SORAR1TC?WO\/-ENJ+_;+==48-+BG;[[]VEB];+"::N'ETV;UYLN6F# MW[:6\QDV.+><]V8C4-SYCN35Z'^`R'NTV/WC?@&C3R@T<:N7![O[3 MKX:Y@66MW-_=_WIL-.B@E0]^B94;L&GEPZWP'%/@HHGP)U*PWQ"<)@4WK-Q* M05VVV4S!#2LW*/B386M0ZB>OT*!(V]6KJ/@$>R?Z&W?6-RVS26X:"XI3'K=P MRL:--A"A:Z,[4$OF1ZWR&Y'2N$=64:>YQ":$_+3%-ARZL=CZ%2/RD"=5$V[] M=XHV.?^$N/SRD'\A,V*(;O:>@I?Q^F(7QAXW(XV:,W?$S$NQ?M M^Q;A\&70TAN^IBN2L_JFR/!EO='4[LXV!JQW(X:O+\(.J^:`9G_4.7=,R/>I MFM+9*E6R;;B@H;?(TH0OKNRP1OM2E.WQ_=>9:ANXNQ\S&ZHZ8'UMFA77OID=.6[>/P@V*T_I. MEJ*/1\.=D:IZE;A?19=/\V9$TX+]W/&X1G:8[VC3.%MBX_G/A"/Q;SEEZ[Z`/?"R&_:PYZ M_K,7Y,,:*S7%L5QF/ZGV2RQEWP?]H[K_OAXN*;A?"K`S)<1_";C(L\'S:A4) M#]C=^568\7#&:^M8LRX`+S)K^8\3^QQO.*FE:>CG,SSA]1O7.DGEERHX'UV- M+JPKA'H:GU%8S4B^`B")[<4-GYR,5%JRFR,A6'W/CM08:(,,W^[?^98.I]*D M-SQ6^HIXZ=N*PG4IH>Z1>W=)YO#EJ_?O.DW1=^HT*JJ]7?2QU8O^CW#ULEB- MDB@[#*BV4.16UM\E.[M69HZ^XZ!25S&]Q8Z"$(]S"]B\*B^'+YFGN<#5>^,(BJB#0/.&RYHI(#?"UFZ('H=O! M>HW21Z=HDNKZ)_I)&/^%IU[Q$U,U_^:#K_O#J%;Y"3=_X*ODX7,#*OI7->&4 M0!G[5`,?\>N]S_Y'`````/__`P!02P,$%``&``@````A`#<^'8VB"P``E&D` M``T```!X;"]S='EL97,N>&ULY%UM;^/&$?Y>(/^!X+5%`L261%&6Y%@.3K+9 M'G!U@YR#%&B*@I(HFS%?5)*ZLQ/TOW=F^38KB>12I+0V&B,GB=+.///,[.SN M<$E>??_L.LIG*PAMWYNHO?.NJEC>PE_:WL-$_>G>.!NI2AB9WM)T?,^:J"]6 MJ'Y__=4?KL+HQ;$^/5I6I(`(+YRHCU&TONQTPL6CY9KAN;^V//AFY0>N&<'' MX*$3K@/+7(;8R'4Z6K=[T7%-VU-C"9?N0D2(:P9/F_79PG?79F3/;<>.7I@L M57$7EQ\>/#\PYPY`?>[IYB*5S3[LB'?M1>"'_BHZ!W$=?[6R%]8NRG%GW`%) MUU?>QC7<*%06_L:+)JJ6'5+B;SXL)^J%JL0FS_PE@/CS?S9^]-T?XY=WW[Y[ MU_WW-]_]\T=K^:]?OM[][I=OU$ZJAL@$'Y3+/.^6BH6O8\F=Q(+KJY7O$4-T MH`G9NGSR_"^>@=]!,(!Y^+/KJ_`WY;/IP)$>PEOXCA\H$7@9[&-'/-.UXE_, M3,>>!S;^;&6ZMO,2'];P``N,Y'>N#6["@YU8PVGUS!%-:M,(87`V]?$(ML>FSA=@VI=3?CC=#$KRNUJ3==N7.QPV$17YBNB)WB83U3#@!S2 MZW:15NJP(RD;S[J@[V3*+@8GLZQO](UAJY9QL;CK-U38-]JDLD*A\7YX$`[CL>85"[ILZZ7Y\9[V[5" MY<[ZHOSHNZ:'Q-)!C?V:&Y.YP&M??.9Z(CI+[;NQ5AL^%UY$QWYOUQ:/[!Q9 MQ3Z&]J,OFWPE/F4O(?C<=IQL'ML?X$P/CEQ?P90ZL@+/@`]*\O[^90WS/`]F M_Q@LG?AW%;]^",R7GL9F.V(-0M^QEXCB8<9FETD(S"YNC=DMTTN0B:(H$&H8 ML^$1A-Y.Q[/VD<[&X[:%:@;\M2ST_0#_6A9JP'^SUCA-^HS>%LA,GA+9N!KL MG@_'X_&H=S$:C<9ZOZ?KC.1Y$M&VM[2>+5P@MD;3+H(!(!CW1^,+#8!T]1%3 M=5($?0`P'`Q&@]Y8T^%_-J`<'T';G`Y4V5XE""1YE2"0Y%6V(.FTD/F3G@*U M&8IN:\2!)*\2A!( M\FIKD\\D`X^E>Y4@D.15@N#47DV75;/;6X,5579G9JW-CQ-=.(FOKXNM&F&= M.O>#)9R<2L^X]'18(\;'KJ\<:Q7!BC2P'Q[Q-?+7\._:J-&CO7@"95PM)>8F5G$L#5G6TW$UH0_U[E`?:!?Q M@JTEU:ZUM#?NKG69[KUQ"30BM]6&$PZ]3$D2#GD]KX->2-PGV(*YFGE:L`'$ M1!H2@BW:L#&O;8O:2%J(V4@:"-I(6HC:"%UG7^=*F5SZ&SC/NNU@PQAUNW$9 M451/N4`"?$_$[`=!VNSR6=ED#Z.5;>K:"OEEIV],-?QCL^,]EE:TV+6SHL$> M*RM:B-K(QTWJ74YX5KK`]+P'R1;?W,\/@P&*XH8IGJTDF.0G+#G')SB$T]U^ M@N:B15MA(,==KY^5NX\ZMP&![69@*=A3+Y/FG M*9NKY)_?._:#YUJL-JC&8GX(_,A:1&RO#3L9482G7X"GEP@2P=-$/VP(V4LB M\"3,1Q/]4'O:JQ]XD:H?@DM8?YOQ@+N*DJ`&%]"@+L/3)@*H,*0(P`DR$.`N MJ(0#"$\9"&#EEB*``,T1`)R2J&C2#WHDFT$,Y"I!_[%40HY)K>14'M'*HO0+ M^DNL-+CTVXAFDF\AT'.:X4,)@$8JBU*LK!1#W`X]+:<`/I108,"HV\Z0URO* M^=(((4D7,.2,0!HH8Z2]J"0Y%W3F`,H9F;8X#R%!@:E(-@2`(P4"<41/TOC; MHQ@DC<`T&B0-P10"-P:?L$]03W`CI"0,@$=*K\CG"3UNQ#@A#02"K`Q)HD&3 ME2(I!EDY,G>%)BM%$@BR,B3UA*P423'(RI'$%;)2)($`C$C)D-03LE(DQ2`K M1^:NZ,M*D02"K`Q)/-$_#WM'F\ M>HI7CN`+MI8B2VF\[LQ,:Z?*HQ_8O\$B$Z\_6T`QU0I4O%XQLA?TR)?`7-]; MS[`4C4\]/:^*:[V`)*UO;`@BTU$6PY\JF"09)Z1A8S54V$31>8-062U@& MH,8,6)%2*SL,58X>2:KN<)B;1?'9\@C*$8>0[J-D:F)Y?WLY46:ZP0J`E5Z@ MO19/]]<<1TZ.+A]HTF'XT#CBV82+RK?R/Q])/)W3I+AY`+T'&$!&#BQQI,%8 M9<#^`:QUL]B6C[;"YF1N>#-1TY3>[>7_Z\H9)T'78IN2A6)33@CG2UM``RWR>U-8'@7CJT&)'X_C%LUV\`?6C MXJ`A^VVZH<[8AB<+"B84.Z2W'C4-Z07HS5<"--$VG5)R@'`!QP'>P"]7$R\5KPDAHN3PIN=U/"L[W3% MLMQVLC&OA/;C%WJ$0J3?X:S6P7DH)WH(0[9G?_ MI)PI[Q>H)IL-8MUBOK$=N-T+!A[N$%ML0KC3P#0^F.SI*9.5+9@TS,-$%O2X MNK*R7*CAKD$B"^:)=66!^K@3]<%:(@LN8*TM"W9R)K)P3V>.2X=]&W5Q09-$ M%L_]0)![?9\?V>[G'!>:+(*+RLK]B*F2R`*3Z\K*_0B.H[+`Y+JR5^!"]061!N=65E?M0Q7^5\#02YO]CK1SY6<:NB""XJ*_T`7S!+4Q]R//_4"0^^V,RD>\)ACQ ML93<=_".<(1GMD0XBJ7D7N.CO"\8Y;&4W%]\?.N"\1U+R3T%\HA%.GPA;E'F MHS[/KB[([M17*,!+S!`?PSBCJB,FZPL\/7@M7ATQT#I&P\+\ M243,!V^]R3S$YU(<=W'XC)1%GVJ3OX$E#$>!_WT2$1G91;#[N:H)YZ=Z. MX,Y):2?F<0`L$1SW/FR)ST1L911!&3^;@8>]A>NZ6S%:8%%^@0',_I?/^;U9 M&.\1/H&'W;4E6P\`O4MK96Z#"].1OH ML^G-C3'N:MW9?X$R?%S1)3SOIL'C@-ACB^`2@YY^&3KPT*`@,38!_RD_-E') MAQ@^N\,3P(9;'Z5&=,+L<4K7_P,``/__`P!02P,$%``&``@````A`"\15V>' M`P``40P``!@```!X;"]W;W)KV67;_?6=B"+$#;?:&G)Z\\WKL M<8;EA^ MOED>I7K4>\Y-``JECLG>F&H1ACK=\X+I@:QX"4^V4A7,P*7:A;I2G&7U2T4> M1L/A-"R8*(E56*@^&G*[%2F_E^FAX*6Q(HKGS(!_O1>5/JL5:1^Y@JG'0_4N ME44%$AN1"_-2BY*@2!<\-3R#F2,!SLA&RD=\]2/<&D(070,81/\^A[F+,$K8A&F?GT,^U-/V M1049W[)#;K[*X_]<[/8&(DT@#9B-1?9RSW4*TP"Q!M$$55.9@P3\!H7`]01I M9,_6GO5YD M=!*!XTF$1GV=A'94=<+NF6&KI9+'`)8K^-85P\5/%R!\/2N0#F3O$([)#.8M M)AJFYFDU7(9/D/ST1*PM`;\-05TB.1,X?^"A,0*IZ6\$832"TX7.UO9&.V[D MQ>T2HX9PC$`6^AM!&%9$:[SC1M4ZL\2X14Q<(OD;X3@#D?[.$(X)C+J9B:D; M=VV)MK.92R1=XN+=<0:5T-\9PJZS]V[$-/YB]-P6$/6^7 MRK(U8!''FUYX6W^&F\(>]XNLM:;11QO7J$D7>0BXI0!A4]:_\35M.?. MJ\#UB7'L>=627&%N^R217F%O^<)/N[\]N MZ6U_D5\5U#*./[]DKS"W_.%6W=^?W=@=?WYET.[F'_FE<86YY0_&V?:'O'R+3>&F?3\8C2RTALF=B&S?8?!5<[ MGO`\UT$J#]B`47BSN=MTE*=6KWD`O5G%=OPS4SM1ZB#G6WAU.)C!%T'9[LY> M&%G5W&ULE%;;;IM`$'VOU']`^Q[P'YD\G4*YFH"#(LU24<,LM$PA]DLBMY99!$\8(9B%_GHM8' MMC*YA*YDZFE7WR2RK(%B(PIA7AM2XI3)\NNVDHIM"O#]0D.6'+B;BQ/Z4B1* M:ID9%^@\#/34\\);>,"T7J4"'-BT.XIG,;FCRWL:$F^]:A+T1_"]'OQV="[W MGY5(OXF*0[:A3K8"&RF?+/1K:F_!8>_D]&-3@1_*27G&=H7Y*?=?N-CF!LH= M@2-K;)F^/G"=0$:!QO4CRY3(`@*`3Z<4MC4@(^RE^=Z+U.0Q":9N-)L$%.#. MAFOS*"PE<9*=-K+\BR#:4B&)WY+`=TM"(S?TH]G\`A8/(VH,/C##UBLE]PYT M#6CJFMD>I$M@/CC#.#JO;UD%CY;DSK+$9$8<<*&A/L]K/PQ7WC/D-&DQ]XB! MSPY#.X0'T70A01C#D,XG^:!LP5;9)MV&9G@&AD+AJH-@P_F'2\J M(R8<8*(.,3((D*%!F_,`>O)]H_903,!=ESX_[/DQ`L1,L0`!I4%P/@!HNF$` M[PM;\+'PM.-%8<0S[N^1[^DULA9\+-OSHBQB4/;&I].^(B-=Z,O+[5KP ML6[/B[J("9L\3\Y[M:-_\%R]GV(+/M9<=+RHB9A#BJ&T;[3UXAIA"QZWM1_U MAE`8,1>T-84>'GJ^K*^;4T?FHWXR8`PM:-%D?.$&??^-"DWMC+DXZPWZ6+G/ M:JN,8PN5Z<3M'[FQ\E5#B^*0&CW,4?^LMLH(^J_R57.,XI`:*Y],:@3-W^MO M6+>C5%]8[#-3+.I3VAI'4%?L/C&8&PO=V]R:W-H965T9<6P MJ*D-VS1]H\FJ5N<,8?\(!SZ?JQP=<7YM4$LY28_JC$+^I*PZ(MB:_!&Z)NN? MK]U3CIL.*$Y57=&W@537FCS\>FEQGYUJT/UJN5DNN(>'!7U3Y3TF^$Q70&?P M1)>:-\;&`*;]MJA``2N[UJ/S3C]886K9NK'?#@7Z4:$;D?[72(EO?_15\5?5 M(J@V^,0<.&'\S$*_%@R"Q<9B=3HX\$^O%>B<76OZ+[[]B:I+2<%N#Q0Q86'Q M=D0DAXH"SDVO+@J:+G3'7_E!:9C0;AV0H2F M%:/4M?Q**&[^XT'62,5)W)$$/D<2:[7V/-=?!X^30.20"7R.),'#)`97-13I MF-%LO^WQ38.=!WF3+F/[V`I]71/5X5JF>GU4+J@3(SDPEIT>Z!I4@H#'+WO; MV6R-%_`E'V.B98RE1L0B@IG`:(]S()D#J008H&B2!6Y]@BS&PF2)A"(!2#IG M&D2$6'*<`\D<2"5`T>!\B@;&`GM6LL;R737I:(R!1";_/#4DGD(F80LD62"I MC"C:X"!\@C^,!38NO&7*VW9--?.(!SD_$S>%3.(62+)`4AE1Q,$!E<7=[S3B MZ+#@08-X=\01!^@E5?.S,@6)9<<%DBR05$:4E.'H/YXR"U93Y@BD++*)%\AQ M@20+))41)3]H+7)^K$W9/FO8'_1Q45VV3DUU1.3J6GZ@[IEX#.+S8&A%]Y:Y MCKHLX4&VRSL@-/>U.?,ME9D5A>R^(37BGV\:%JS*XH@-XW':-):_5O.+QR`^ MFP99TS)A7#(B]J#!,TUOUBQ2F411L/D5!2Q853`BJC&S(1*/09(QT[))`4=& M%YXVIF?/)<@LB@0+ZB>[P,?AB@UI6E;Y: MKBAX9(V08ETPV_FQB)*\&R$7COW[KEV<*A$5\&.U=M9^,-L7J4*N*F;C=:;8 M\MXM_8:[CRR%]C)YRH>THII#@S/\C?P.RJ]7#>HO*$9U3;0<7]G]<@UD$SK= M?0_#U7>&1^Q.S.H[Q^T0;@MW<">$4;O$#VYXX'?K.9$;POA:+HB\$&;$'=P/ MH3<#;DQ$<$?NL@OZ.^LO54NT&IU!HSG4M>>W;/Y`Q_J>,(7;\5#J$GX-(;C? MF2LX5V>,J7A@+YA^7^W_!P``__\#`%!+`P04``8`"````"$`3HCB#YP$``#N M#P``&````'AL+W=O MZR[9@NV%+U*[0`L4Q>[V699I6X@D&I(2)W_?X4WFQ3$<("^K]< M?WMK:NL5=7V%VX7M35S;0FV)]U5[7-@_?^1/4]OJAZ+=%S5NT<)^1[W];?G[ M;_,+[I[[$T*#!0QMO[!/PW!.':7\5.+F#!2[JJZ&=TIJ6TV9?C^VN"MV->A^\\*B%-STAT'?5&6'>WP8)D#G ML$!-S3-GY@#3>6GNA;:SG-,$_:K0I9?^;_4G?/FCJ_9_ M52V";$.=2`5V&#\3T^][`H&S8WCGM`+_=-8>'8J7>O@77_Y$U?$T0+DC4$2$ MI?OW+>I+R"C03/R(,)6XA@#@7ZNIR-:`C!1O]'NI]L-I80?QQ`O=&*RM'>J' MO"*,ME6^]`-N_F,V'F=B'#[G@.^5(TK

.XL2""2.ZN' MW!&^8O6)/XV\B$JXXPBT5#I\Q8KA8YXQ]X2O\+P;J\.23FNX+89B.>_PQ8+& M@+SVYX*TF9<"F2@>"WHLYT?5A#(2DA5A6=B);4&E>MB"KTLO#N;.*VR;DMNL M;]BH%AMA0?8(H=WJ0*8#N00XH&B4!1OA"V01%B)+!+06P%6GKVD0%L)EJP.9 M#N02H&B`??@%&@@+M)12FE`->LUM()"Q?I%JLAE-1F$&DAE(+B.*-FB5+]!& M6&#CPBICW.:^8T;!/7&CR2C.0#(#R65$$0?M+(N[?1"*UB'&5(-8>\V00%6E MUV,T$FY;`\D,))<1)61H_<=#)L9JR`P)Z)2AK;LQD*V!9`:2RX@2'QPMQ%@-F2%R MK@UD:R"9@>0RHL0W4^,CN?9C,KL_&.EB)Q,_-52.J-E-M.QR(W8UH,?^+;=0 M&R<9,_)#.FW\>)I,74]ESF5F1:$'EYS'2T"M56$<\H%'.GFFZOH;8<7N*FRB MD94AG_1*13LE$U8^51*Y;J0=S[FPH#RJ$#+_'MY+'IN6<%Z*C;P6D%JBF2Z$ M.THUNCH*KHQ#O"1/,S?R#24RD:J$3$%)";N(3,C-:SA5Y?,:0Z+!^T:W!)`X M?@UAHU01R""U4HFK"^162_L#GCTH*A\U84\*B=1^#:&78BNQQPBZV#>J.:(/JNK=*_$(> M'M`_R_D(CZ^BE4_Z0,/7Y+5T"_=3N*C=L`]2N.68^"I,5^S5I2\0IG!S,!W6 M40KC^08>IS`6;^!)"B/F!CY-X6@'W!D7AM?6N3BBOXON6+6]5:,#),6EA>C8 M>XW]&'A!=GB`AQ:MS0G>U0BNXNX$&O&`\2!^D`7&E_KR?P```/__`P!02P,$ M%``&``@````A``+V$B,)!P``9B```!@```!X;"]W;W)KUJ467YZ&!JCR7"0GI)\FYU> M'X9_?W.^K(:#LHI/V_B0G]*'X6=:#K\^_O[;_4=>O)7[-*T&Y.%4/@SW575> MC\=ELD^/<3G*S^F)6G9Y<8PK^EF\CLMSD<;;NM/Q,)Y.)HOQ,Z.DJ.BY'J_E\ME@MZ>X7.E)K M/6RZBH[7W7`A^M'UMI$N14>ZWC92>M#JD=)5WG$RFDWGRU6M\(4YWHF>=)4] MKYND05'$%Y6%$U^0*W4UFGB@/^1=S>O&:\@P8'_(OA='/.;!6,>V%5?QXWV1 M?PPH8=#-RW/,TH^Q9MYD5'.UFCC_69A3?#,O3\S-PY"6C"*XI&?S^Z,QN[L? M?Z?G*1$VFQX;U>)96K"'A[FU=&#KP-&!JP-/![X.`AV$.H@Z8$S"->J18+]" M/>:&J2?GO9&@E7.J224M9!=+![8.'!VX.O!TX.L@T$&H@Z@#%*DH8_T*J9@; MRIS=0)M/5&TVPH9&TD3C7#5Y;DP:_8#80!P@+A`/B`\D`!("B;I$$9(R^*\0 MDKFAAYYNTXB$CRPW,B\IV9@T2@*Q@3A`7"`>$!](`"0$$G6)HB2]TA0E^]_D M,L4QZUHP.=$-)Z8BX=S0(JTQDMTL(#80!X@+Q`/B`PF`A$"B+E'TH5?W#?HP M:U4?3LQ9D]>>@5A`;"`.$!>(!\0'$@`)@41=HHA![S9%#/:B-%>LU!/5T]7O M2N9)%8H3$JKS+,[UC-\8-8$$Q`;B`'&!>$!\(`&0$$C4)8IV;`O4+3(N/VC, M6M6'DVX@`;&`V$`<("X0#X@/)``2`HFZ1!&#BLP;QJAB<:,%B:EFG,6J" M!8@-Q`'B`O&`^$`"("&0J$L4?5A-?8-`M;FJD$#=>$%D(;(1.8A<1!XB'U&` M*$04*4A5AI6AW>>(Y:#I?'1["F*;#RVL!-+B:J;%56O5!!8B&Y&#R$7D(?(1 M!8A"1)&"5!U9C=K5\7(^8MLB72R.E`@#9(F.'2L;D8/(1>0A\A$%B$)$D8)4 M95C5>8,RO$BE(E)&PX85E"26%D9Z^=U:R8X6(AN1@\A%Y"'R$06(0D21@E2Q M6&%Y@UB\#B5_CQDI*:K$3.1Y_$MF('$0N(@^1CRA`%"**%*2*Q4K.&\3B%:HB M5K=HK0].G@U`%B(;D8/(1>0A\A$%B$)$D8)495A!V56&'TZ-V(EEM<^2MTU. M+T!ZE?7D;Y,.H<31%"]+%<%$I MZ6(U5JU8PM>B28MNOR_M.-%KK:0O7R"S]16T5IU%7&@G1F%K)7U%TE>/I*QT MO4%27NDJD@JD;/@6^LF!(:Q:X2V)E(XSK?BWA17;FK:!.],"UY&^6O>N1!?= M>\+*7-;GO%^FLXEA:F/WI:?6>2#11>>AL+H\]DCZPL69ZKN'_Y4S:B_JID(@ M=FE%7>B;=&G%O]K49]@"F13G;4=8,VE%:]ZQTM<,W;NRXT7WGK":*:/70\)' M]\%5[D/IWN!'_Q-CM5AJ41DISI4<->W;UQCS-L]_R\\_R_.=W%6[T1:-[W/J M^HK?DG_>XY]`CFGQFCZGAT,Y2/)W]NEN.J4)-)A_5]P8]&&1-A.4&:!E2BW3 MWA:36NI*#_K,J*4>$+3,J:6.:&A94$N=U/06ZM+;@SKTVB_7=$K3,Y/5F@XL M>OC=FC;J/=R8T(CJ[Z7:B.BMN69O*.Q#KXBU35D56RCAKUDZQQ9*W^2MKX6^ M]C[U*T\#Z_&TH:7JM:>%ZENGIQGY[W5$Z\?CJ9DY?>4]QZ_I'W'QFIW*P2'= M42A-ZO`M^'=B_J,28?R25_1]MX[H/7W/3ZG^F+!-_"[/*_F#M!@W_T/@\3\` M``#__P,`4$L#!!0`!@`(````(0#UM]77RP4``$D6```8````>&PO=V]R:W-H M965T&ULK)A9;^,V$(#?"_0_"'J/91V^A#B+V#J!+5`4V_99 MD6E;B&4:DK+9_?<=DJ)$MW:[FQN M6^1:TD-U/6WM/[\D#VO;:KOB>B@N]$JV]G?2VI^>?OWE\9TVK^V9D,X""]=V M:Y^[[A8Z3EN>25VT,WHC5WASI$U==/"S.3GMK2'%@2O5%\>;SY=.75176U@( MFWMLT..Q*DE$R[>:7#MAI"&7HH/YM^?JUDIK=7F/N;IH7M]N#R6M;V#BI;I4 MW7=NU+;J,LQ/5]H4+Q?P^YL;%*6TS7\@\W55-K2EQVX&YAPQ4>SSQMDX8.GI M\5"!!RSL5D..6_O9#7-W93M/CSQ`?U7DO57^M]HS?4^;ZO"YNA*(-N2)9>"% MTE0[@5XQ!P+#]\CTI8043`S M\Q;,4DDO,`'X:]45*PV(2/&-/]^K0W?>VOYRMEC-?1?$K1?2=DG%3-I6^=9V MM/Y;"+F]*6'$ZXW`LS?B+>]6AF'X#.#9*__\!%:]#7C*"C:CHBJ?'AKY;4.(0H/96L`7CAAO;DFD0 M%H;$_%M>("',R#.SLK7!"PAY"\7T](N7@!#R/PK)(#*$!)$8D021%)$,D5PE M6DC`?74I?%P+3)A[+F>\$\378['4RV,_"$FU")$8D021%)$,D5PEFJ.PV]_O M*!/6'17$#X;5OD)YA7LP_=[Q81UKP0!K]127AGI&X2& M]"$2(Y(@DB*2(9*K1'.4-8/*X?5QG3)AW5%!U/0A$B$2(Y(@DB*2(9*K1/,* MCN'[O6+"NE>"^+S]XL?H'I%H(&J*UWJ*XT%(ICA!)!V(:FBC&\H&(6DH5XGF MNPN-Y/W.N.BCYVHKI]:+7Z!DQT-7#^R!%WKD!:)!"*I)1HC%G7%6.42#0652H1 MF!Q/O,`U(]&/.)K/I:+X/E`[,)?U*$HD)CR&YGYP670TFLL]TK:NP.RW^#!0 M->*S0C2:O>)R"%\LI5:\G?5\U_5]W;E$BHR&4HE@<2M1,10S*;7AMCO5POJ8^V,DNAXM1@)YL-"4&1K-^IXU,K"O>&/>(HQBB;P^1DOCE$BD MP&@FE6@LI4PB5L[PY3"?&7UB+@6X&3TY/QRBXP%SXRKID5XRQ@3V;B\U M9CK"*.Z1%W`_'CQW:6RI"59*)1J;B$S:8;4^'0]U.GH\6*MS?SQ$8Z3%0R"C M/(SZW+,&V2P/A&(I!;6DE!JJ$:282D6U1GJI#VWE4G&B4%BWI`3FO^VRHN72 MXM4CO7Z,O._=7DJM'X'@PD'68MQ+><.6X_O&WI5@0ZG4^L&6TP\W;#G&GI1K MEO6:8OV7#!ULE&;HOM`;[*8_^F2$RR2S4^D1KWPQHK@N$A<4-6E.9$\NE]8J MZ1N["G+7L"`&+.ZI=NL0.BD(H<'S#=Q?\3(P7L#%UK,WH;!C%UY3W`OAVQD/ ML/-#^*;$_#D(G\7%F3'P+@CABPLK[!8A?*!,\&4(+?X$7X70$4_P3ZR1;$)VY.,7Z2:$;FZ"N_,P@Q9GZHT+;[@M9P@(7.3=BA/Y MK6A.U;6U+N0(V9WSEJ<15X'B1]=7U@OMX`J/%]D9KFP)="EP2-C6D=)._H"A MG>$2^.D?````__\#`%!+`P04``8`"````"$`8=.<^K0"``"*!P``&````'AL M+W=O]-(80EP%";A!;6 M-K'O&UZ(BAE/-:*&-YG2%;/PJ'/?-%JPM#U4E7X4!)=^Q61-'4.LIW"H+)-< MW"A^J$1M'8D6);.0ORED8TYL%9]"5S%]?V@NN*H:H-C+4MJGEI22BL=W>:TT MVY?@^S&<,W[B;A]>T5>2:V549CV@\UVBKSVO_;4/3-M-*L$!EIUHD25T%\;7 M84#][:8MT%\ICF9P3TRACE^U3+_+6D"UH4_8@;U2]PB]2S$$A_U7IV_;#OS4 M)!49.Y3VESI^$S(O++1[`8[06)P^W0C#H:)`XT4+9.*JA`3@2BJ)HP$588\) MC4!8IK9(Z.S26RR#60APLA?&WDJDI(0?C%75/P<*VZ0<5YO:#;-LN]'J2*#? M@#8-P^D)8R`^GPLD@=@=@A.ZI`1D#!3P81M&JXW_`*9YA[EV&+@^8WJ$#Z*] M,JA-5T8P*F-5,)5K%QC*1.=E9F,9+/K\S:*?C.(A*._01+3N^5T&#C,?8!8] M8F04(-.-(AAZ,99^66,'FB`-1J=+([B5[HO<1895#F?!>9>7'Y%"\%BJBT3M ML`['!*9M:`'[%ZU"_$+>&58\.-;H(C`ZS[,Y"\_;P:4[^;M`\%BJBXREWIC0 M]5BJ=1@NO7<-XKFQ:A<9J\[.&X1-]P&'+7HLUH7FSQUSF\^METKH7'P196D( M5P?<:A$LC#[:;]Q=V_&7\7F\%O#/$[`T`JQIII0]/>"V[O^BV_\```#__P,`4$L#!!0` M!@`(````(0#'Q/[\S08``#<<```8````>&PO=V]R:W-H965T&ULE%G;CIM($'U?:?\!\6Z;[N8Z&D\4B+(;:2.M5GMY9FQLH]C&`B:3_/U6 M4VVZJ\$VS,/,V!R*TW4Y!^CG#S].1^=[43=E=5Z[;.FY3G'>5-ORO%^[__S] M>1&[3M/FYVU^K,[%VOU9-.Z'EU]_>7ZOZF_-H2A:!R*78SP5$^)4>UVY:;X M5&W>3L6YQ2!U<2S;GUU0USEM MGK[LSU6=OQYAW3^8GV^NL;L/@_"GNP3]6Q;OC?&_TQRJ]]_J2X@VU`G68'7JOHF MH5^V\BLX>34X^W-7@3]K9UOL\K=C^U?U_GM1[@\ME#N`%UB[(EP&D2<8P)W7HFD_ES*DZVS> MFK8Z_8<@ID)A$*Z""&"OCO,ECP,6A(^CK)!1M\!/>9N_/-?5NP-=`]=L+KGL M0?8$D:\K0Q[]6F\M%=8H@WR44=9NY#JPB@;J\_TEB9]7WR&E&P5)AQ!&$=D5 M(2L!['J*L'"3XGC2KTPD6#*119#44OP"8O?4N'7=(2(*>PAA`@F:SD2"H=#& MA9.D#XO<$.(;D(`BLGL(0@V"3*S[B4Y)QSTS M`8R%$=.+(\2@P:<3DV!*C'F>Q0PQ8<>,^TD@6$01F8E@PH^"6_4,*3?9_`+$ MX7Z'R9-LCE8KIXA!CG[H"=]*;V8"6,@]KB.0[,%(F=F;QE">9#.TFCY%##)D M"63)FM?,!,1^$.GCA*"T.$L_'J=0GF03M#*4(@8)+A(OX+Y590(0813<8)A0 MAO>+*\$V,^O"*6(4,\8\/PAT[^-PF)`PBHSDDN0Q:#8S>_>Y=6B;G"48J0+Y MW7BP6+<5$E.'D7P4Q?IT2DQJL5'6!\10N4VI8YZE%RE#$,A&+SKZXHK%/OA)68E"$&$R,G-AFP,Q$+)B(1ZS52=E*UI[-#C2?L[&EEB%$] MQP/NV9I'$2Q,$E\+)V4GE7LZ.]1YPLX>"(:8*SLO#(6>155:`F%QY$=Z!93> M+,.0=V'6P-I:FRH,TA.@)(G.C&)G.L:">2PT@E!VEF4\&(RA5_B#Y)E6`-=. MPF"8/1,3!AZ+=(-0>I9?/*`W-(K!+0HS?8#[+/(\:P49@;#8$\*8'4K/$3/#K7`\*(1Y`L:W-V/*;Y9O<-1[4UN@__O(6&`% M4OP"N%D*`ZV[BB`&4ABX5^4QTP6@#*6*&^HWK<1CYI/R M,BU<*FD(ND$+#R(M*'MH/*908K-,0SXN#ZJI*Z&($4_P?<;CT+XE4(&0WT(D M$1?&C05E.,LX.`H^D3ZF9TXQ1!#DZ*;TJ3CC$,IOEG/PH7,P9F4G52"5'>9[ M/.*QI=^9`MGUI]QFV09'N:=M9RE&JD#V9;O$9NJ@(@[3`#^]*E%FEF$\&(@1 MH[`?7E-.O2`)DU!?7/$C$`Z9CW5O$'[R46SZP'9H6^5LOU`@3(X(:'*0'X'X M'4(O@?*;Y1=BQ"^,UPXX%0J$_)@`AI$QDXH@!K*K3ZE)-9^L=0*UGS0=UXM6 MU!!T'0@1@4M90Y.I0`H3P'N56[>B8I9'=&B[MKIK%$$T$I4[[L?P&-0WODJ= M">$A9_R6APDIWM,3B%)/$VA[6!=R[:KDP#-$8/M)1B!^`(*L%8?6=Y9EB!'+ MX+:7*9!*G_!B-GAK1B!1&/F)K@&E-\LO!%H!S9[M:`J$](+0"PW54,7%,-?Z MLR0V1H?2FV47`NV"V)G]/B=5H'&O4OPPSCB$\IME&6+$,K@UF:D"J?1Y(HBL M]LP(0DY&H!&4W2S;$"CW-'NVH2G0>&I4]C#..(3P@[T4,KK3;I*[LRR)X7KZ M.A*I`N&+Y=%7HP0Q^FX4]VEP&^-4U/LB*X['QME4;W(/AL.KK_[;?G_H(Y=; M`M;W*>P;=9LLJ_X`;-M<\GWQ-:_WY;EQCL4.0GK+".:_QHT?_-!6EV[SY+5J M8<.F^_<`&W0%;#EX2P#OJJJ]?I`;&OV6W\O_````__\#`%!+`P04``8`"``` M`"$`'EYK.\@&``#*&P``&0```'AL+W=OJG^XZ--TP_>/[^61\2_(BS2XST^KT3".YQ-D^O3S/S+^_>E]& MIE&4T64?G;)+,C-_)(7YQ\/OOTW?LORE."9):8#"I9B9Q[*\3KK=(CXFYZCH M9-?D`O_GD.7GJ(2?^7.WN.9)M*^NW>L-NN,OCNFU0+5S_!FY8]W?+C6+4KGXP^7,:YUF1'IOL49B#";N3) M868^6I/0&IC=AVD5H'_2Y*UH_6T4Q^QMG:?[77I)(-J0)Y&!IRQ[$::;O4#@ MW&7>7I6!/W-CGQRBUU/Y5_;F)^GSL81T]V%&8F*3_8]E4L0049#IV'VA%&A[=7U+]^5Q9CI6QW)[`[`VGI*B]%*A:!KQ:U%FYW^EC:64 MI(:M-."J-*QA9VCUQL[P\R*N$H&K$AG=K3%0&G#%@;B=4;_O#D9WC`1:HPH) M7)4*3.R=Z8^5/5R5?;_3'_8<2X3P'3^KCCW\@>.]?[@6AE_\H62>QA5U9# M55S+J(P>IGGV9D#'PHB*:R3ZWYI8CFE@6[&M3>K8,K)BQ&-DS8C/ MR(:1+2,!(SM&PC;18@MKOQ;;VP]D7"B%=15"G/I<$@?TZZ!:PR&IQMH(W9:, MK!CQ&%DSXC.R863+2,#(CI&P3;2(P5/[CH@):SUBDD#$,!@+1I:,K!CQ&%DS MXC.R863+2,#(CI&P3;3PP%/TCO`(:ST\DCAR$R@>HPM&EC5I%]U(+[I5;81Q M]FK2=AOK;NO:"-U\2?KM=<,:]72W36V$;ELF%-0VK?N/R"YB5QNA4-@6TD(M M#D?MW<_[O2NL]5`KHO7NB.Q[%LJHR<=2$A33=7#^.:N?F* M:(.DJ_9&&L%&5NS=1N1AN&6BP6=$=TK4K42=\8"F*FSK:HF!+?8=B1'6>F(D ML>&4U8HPF=5"&33>RA*^9FZ^(-DB6&&7DR,2, M.GTRBRW3#6I=;("=(G8ETG?M$6GUL"VB)<*"T=V1BR5+]:XYP[(TARB3:6DYT4<;N[( MBSP+P8X:6W4N#O42+J4>+T>F1B(3K=Z!5Q++HC)_(4I>5$HH]Z15DU M];441R5()ND5LERLE)7=.'JW'4GLUMS11_1!KZBAREX9#CI#9]SZCPQPBZ+- M``-$[P:,S0Q M#?4>2JB0YX]"6I7RYX^R:LIP*5H0M#YJ*.;HW78DR]%:6<$[7.Q]'Y$V5-Y0 M\H[84.)]K[Y#V:).(QW@F,;UW78*]7O5KL#BN6K/3%_EQ-&NW5'_+U?R@`@E M@0&8BQ?:$')H-$0+1$WM+15JG7!6W,KC5FMNY2-J[KA!U(QKBZ@91*!0'RJR MV6+27.W0"GO"[5D.>>*%FK@>9W%&?"_.7[/KSWJB*@_5%/*HJ05:HFJ%E;>4 M'Q[DN^%SDC\GB^1T*HPX>Q4?%6`G\C"ML?SBX0\G<&B#1!$>#"=P!N,!_`YHZ2'`WX?I%6J[.[SP2;G[+'_,ROZ?SS]\Q\/G_GE6_&6966/(IR+Q_Y;6;ZOAL-B]Y:=ML4@?\_. M=.4EOYRV)7V]O`Z+]TNVW5=.I^/0'HUFP]/V<.[+"*O++3'REY?#+G/RW<"]TM-/NEG"G[>7;Q_N777YZIQ#/A^.A_%D%[?=.NU7X M>LXOV^\99_^I?#/CF<,U*;QDF,P'.>?Q.F MX5X@-P+\NO7WVLOTXEO_./X/L\/I6TG!/J4>B8ZO]3RH8L\%T/AI;(L@5Q[%RI$_E:"\'DN%5_Z5-[WG;+F7*DS_LZ.5>.]'G?':E$JZ;2IW*D>U_I MVE+9TZ>RM^;U4%[QLRCI9`Z([),#?.,X6'7ZT!\W-=+2R2+^T#<;W]1,G2W6 MK>DRE+E>E8ZS+;=/#Y?\LT?S$36V>-^*V2C+FH$R,;:R/MY@!Q@7A` M?"`!D!!(!"0&D@!)VX0I1FOW'8H):ZZ8).-)/3UN@#A`7"`>$!](`"0$$@&) M@21`TC9A\M`JRN012[(]'9"<=R[*(A!73A)2KEW`YLQ7&]6Y!L0%X@'Q@01` M0B`1D!A(`B1M$R:F.-RU]S?7JU-8<\4D:><:$`>("\0#X@,)@(1`(B`QD`1( MVB9,'MH@,WG^[UP3@;ARDABY-C/FM=JHSC4@+A`/B`\D`!("B8#$0!(@:9LP M,<7I@:EY/=DJ1&FHDET5@^.!*' MTXW8!PO]&N0TJ+W`+GA*NHV5'@NO06W')7?T&ROM&"@TI;8T>_+%B#N&C95V MC#!6W%BU8UD\5M)8Z5@IB\6%%]OF.X27NVR*IV.O+878GF5AGGZU57LLI..$ MUKZ6,L9)T$5'3R'#T=B1^^@8:,2:.C'N&"HK>AXH'I,LC-U7I(,T/8DUNAHW MT7$G5=SQS9,$MFT!+;4-CJW$8]CJ61L^=!4 M/N*1B*JH[6CL$UQT]!0R'(WIWT?'0"/65!PFU=2Q'*;%8&IT)M)QFL[$&E4/ MJJM'6(E&=A5G.K$7QG20:HLJ#A\6<4:X8UCDD8(-BT(L=3MBP2/2K:E%638(YED0\Z9=&TUUEU2HSK]O1F"%\=`PT M^D6UJ*:J:AD/C#J,=)BF+[%&[6)1862Q?+&6H\G,F#]3[=91+N*8<\>XR%,1 M&Q>%6`XN8;%15NURD8B7R])HNFN!HZ>0X0B+#3@&.A9K*I:+=-3E8DRKD0[2 M]"36J'FZDBBD:F4\'HV,CJ7:J:-6Q&GICC&1ARLV)A+]JE:459-?CB6142O& M=.$J*U8KG8Z&=CXZ!AK]HE944V6MS&>#^7C9^FD(UG&B%=V0/P)54?B!5B.6 MI;#^:*LF#1V%C+HP\LY%1Z_;T9B.?'0,-&)-A8)25KJ@Q$_)?'\FUU$4K M#ZU\M`HT:NX8:M2<`"*-FD;$"DVI$\UNTQRK1%OIFIB,K+&QXJ4L.-?9/&"; M-?%G_OYW-5&EARH*/'C;<,K>('(0N8@\1#ZB`%&(*$(4(TH0I0QQ$<49^?;I MWY9'ZO;TKQ!_RK,T-J*;QDIGI8/(1>0A\A$%B$)$$:(848(H98CK1[/1/?H) M0A\A$%B$)$$:(848(H98B+)8YL=R2;/.&Q9)/( M2#;C\+*AZ@;]`+EHY2'R$06(0D01HAA1@BAEB.LG3DYWZ*<.6LU4O:;7NX0R MU=Y1AI9O:\E73D[9Y37;9,=CT=OE'^)-+%IKGAYJ+%\36]LVO2=FB^4%KHSI M2G4[N#*A*]5MXVZ0GVDQY5XA1[HK<3C.KQ"C^=6XN$;7J$7Z[YVQ5J+VW?8KX7`79SD M[8P_H?C5BWNFA*1ZI^BD>:?DLQ7][$D=&-:!Z`6\]^UKEFXOKX=ST3MF+Y06 MHVKC>9&O\,DOI5ILG_.2WKVKUMTW>M4RHP>Q(_'3Z$N>E_J+N$']\N;37P`` M`/__`P!02P,$%``&``@````A`**0GL2M`@``=@<``!D```!X;"]W;W)K&ULE%7;;IPP$'VOU'^P_!YN>\NB9:--H[21&JFJ>GGV M&@-6,$:V-YO\?<1$U>F9*<]ED.`XBC%A#9,&00,C8,^0JBD2'@1KC"=1 MK"8&\M<5;_6)3=`I=(*HIT-[1:5H@6+/:VY>'2E&@J8/92,5V=?@^R6>$WKB M=@]G]()3);4L3`!TH4_TW/,Z7(?`M-WD'!S8LB/%B@SOXO0VCG"XW;@"_>'L MJ`?W2%?R^%7Q_#MO&%0;^F0[L)?RR4(?5@78OP)$UEN:O=TQ3J"C0!,G",E%90P)P18+;T8"*D)<,)R#,+8, M%JMH%@,<[9DV]]Q28D0/VDCQUX-BEY3G800R&@KXO%W$F_`9/-,.Z7;LP;%& M%QG;65^V`UOM`WX<>BS6A>9O_?%;SJ\2P53)OK"ZUHC*@]U@"2R'/MIOUYTK MR/_Q>;KS6S?LW\#6:TG)'HDJ>:-1S0K@C%S7E=^;_L'(%O*$W2<-[#MW6\'_ MC<&&B`(8D4)*^?ZX>QKE5U7.SCC!9DJG^0 M2O\Q^_VWR866+]6)D%H#A:*:ZJ>Z/ONF624GDL>50<^D@%\.M,SC&F[+HUF= M2Q+OFT9Y9MJ#P=#,X[30N8)?WJ-!#X'A.9GD'A.L[3^:$1U+4_\\%C0,G[.8-SOEALGG79S@^3S-"EI M10^U`7(F[R@>\Z/Y:(+2;+)/803,=JTDAZG^9/F19>GF;-(8]$]*+E7O?ZTZ MT4M0IOLH+0BX#?/$9N"9TA<6&NX9@L8F:KUN9N#/4MN30_R:U7_1RX:DQU,- MT^W!B-C`_/W'DE0).`HRANTQI81FT`'XJ^4I2PUP)'YOKI=T7Y^FNC,TO-'` ML2!<>R95O4Z9I*XEKU5-\W]Y4#,B(6*W(G!M1:R1,;(&C\[H?A&W%8%KUQ/# M'GN6-V0]N?%T^+49`ES;AK8Q]CQW.&9/O]%PU#:$:]?M7L,[QPX+J7DZ7%N1 MD6&Y@Z;3=TI8,.M\$MCTMP9_O2>09JT,_"/Z\NG$[=Z8/#&:/%O&=3R;E/2B MP>(%L>HB&STY)"%"!'^(;)"9(U(@,@&D1"1+2([1*(^D8R$"OH=.<=D M8-'#8X1)MC.6;9KS(.>6DR)$.(G("I$U(@$B&T1"1+:([!")^D1R$O8/RN))$#&R+?)IF([!$G#C^\L3UO@_"BU/V5U7(J@S M>XU(@,@&D1"1+2([1").^#`DV]B;2/]\<<4>.`!V_K!HV1].^OX@LN3$[9 MY(R:$^6#[0XL1^EUB)2W]RCO>-#M7D=];6D^V)E>2NO_50T:%7FB6F2#_J>; M0UNV?-%%\?P]3%E= M+6KV.?Y(_D+/7[1R4A[)@F19I27TE;VLPWO6;"(P_Y(P]WS8B*$2J'SHPYZ$ M^7+D0QF^PL<^E#K,@[$/E0OS[=B'0H0Y?-EXLJ_P.?OB<8W;/AS]L<[<\>$H MB_F3ZS^!;_B'N>O#B0VX*9R`+QKG^$C^B,MC6E1:1@Y@XJ#9>DO^383?U.T$ M/M,:OF4T:O7&PO=V]R:W-H965T8^S8 M/G2:K7JSV3QS_.+W^-@^8?/E6WVQWDG35O2ZM=W)U+;(M:2'ZGK:VG]\39Y6 MMM5VQ?507.B5;.WOI+6_['[^:?-!F]?V3$AG@<*UW=KGKKL%CM.69U(7[83> MR!7^O;[:FD]0TD7JI+U7WO16VK+H/\=*5-\7(! MW]_<65$*[?X+DJ^KLJ$M/783D'/X1+'GM;-V0&FW.53@@*7=:LAQ:S^[0>[. M;6>WZ1/T9T4^6N7_5GNF'VE3'7ZIK@2R#>O$5N"%TE<6FA\8@L$.&IWT*_!; M8QW(L7B[=+_3CXQ4IW,'RST'1\Q8D;:$C(+,Q.NG4=(+3`#^M>J*E09D MI/C6?WY4A^Z\M?W%9+Z<^BZ$6R^D[9**2=I6^=9VM/Z+![EL4E+$&T3@Z/#T]:L1%5VQVS3TPX(2AP2UMX)M&#=8VY98!JX@%^:?U@5RR42>F0\A:*Z7WG^?.-\PX%4`XQ>QSCZA&AB&!+Q&0C$\0F2$R0FB`S0:X`!Y(@ M,P%%\#]D@JFP3`@/>P&4U!BV1808$ID@-D%B@M0$F0ER!6BV?6Q[!B4TO@_% M>K-!L..4]7;1>@\Q\%Q9%$9)A#)$6D9#_64IDB$P)(C$B"2(I(ADBN4JTE(!]=2M\7@LLN'A)$ M4DE4H;4NE,D@(92K1//.^D/E/ON\=%FP[IT3U3LB$2(Q(@DBJ22*T=G4,"J# MI%&5:$;ALE:-\HM[PF[_[ER5KWL*>P^NNI$$^'!!\VN;:>C^.5'](Q(-A+=2 M[)Z.$4G0J%3&J/Z-#B"30=*_*J3Y=Z'E5!,P8A0Z0>&TC]:M"J0=4S-/7Y%0 M1/$>E'F+> M*KD(Z)7U'+%>Y^'=X/+.".XPD?W]@#QPK,QPIEL+1=2](B*,8H&\(4<+XT9( M1,!=)A7H?A9E`K$J?M^YTXG15.0BH)?1T\%ZH,?3P3LF+1T#TDO&F$#H#E'W ME8XPB@?DS7H?3YZ[,([/!`]*!;K?.)G08;4^G@]U.GH^6$_T>#YX!Z7E@R.C M/(RN)V1-$>P7[[ZN$4:Q0!"LE!JJ$:25BH%JC0Q1GVKE8N!(H;#.2$G,?SI< M729B'#D#TNO'6/=0#%3KAP^$7Z=B:\9#E">/'-\WSJX$"Z5BU+\<.2^IQS3LV6"'A=\]ZP,XGG<;B?E+C7P9Y&LF:7!XV?'LC?`]>PDRQKT`?D]AG;T? MP.\,S)]GP3-_F6(\>#\+H`O'`_;S`)K6$;X(H.T;X7D^/M\;A]V]I_?LM1Y9:5(>'YPR<)W'99'/$[R M\\']\?WITYWK"!GF<9CRG!W<=R;/DB+HQ)!Q!R<7`O4A8[SQ/1 MA66A6/""Y?#+B9=9*.%K>?9$4;(P5HNRU*.^O_:R,,E=C;`KIV#PTRF)V"./ MKAG+I08I61I*V+^X)(6HT;)H"EP6EB_7XE/$LP(@GI,TD>\*U'6R:/?UG/,R M?$XA[C>R#*,:6WWIP6=)5'+!3W(!<)[>:#_FK;?U`.FXCQ.(`-/NE.QT<._) M[B&@KG?ZB=5 M@?]*)V:G\)K*;_SVA27GBX1RKR`B#&P7OS\R$4%&`69!5X@4\10V`*].EF!K M0$;"-_5^2V)Y.;ATN=@0?QML`.69"?F4(*3K1%?:_=B(5E`:A%0B\5R#! M>K':^`$!SA$03V](Q?<8RO"X+_G-@:8!2E&$V()D!\#V@"`2]+U'YX.[<1W8 MJX`JO!ZA#_?>*V0NJGP>M`^\-CZD\?"`M&$&MNG,Z(S,F%KF\U3_V/[FEG[+%L^*SLSN$P/$)VA!B9U-[?::0(U],-T:G16U$UR M*XN177\@O^LY5.AL4E46-;M&>T"730\!G4U<;5FUP-7&5:&RVJ!`C9MM4IOZ$5&;9JPGJ*!:V&&QJ0;Y>$P:3Q"*.M`: M@]]G4'EWV!!`]02>#8VSBTTUUG`:&ZL3[:M&;6JW/"4?IPZ3>)9JT+YJU"9+ MG7#06^G":=I"6XRDK:\8^'S3:6N-$AF883I+,91WITB#)PAJD8?-9DKC]>5! M8:E6:,7=B&CQ24)L\3))VM;)#8U,(,G"J"&8IA/(VV6I3O_," MBT(0>C>A4FIEA\8J$0,'"[@S&CW_^UY7WATV+1%+/&KH0=5W2'W'REAY9G^Q M-!5.Q*]X/Z1P:VJLS=WU7N6D:U_N[O6=UFM^@3ME$9[9OV%Y3G+AI.P$F+YZ ML)?Z5JJ_2%[`/N%2R"7<)M7'"_Q[P.#FY*-(G3B7]1?<>?-_Q/$7````__\# M`%!+`P04``8`"````"$`;(N@P"<#```J"@``&0```'AL+W=O\D%*`41*KI5=ROM2JO57IY-XA"K M21S9IK1_OS-V2)-`2W@!,AR?XS.>\61Y^U+DY)DK+609T6#D4\++6":BW$;T MS^^'JQM*M&%EPG)9\HB^F,U=;3E>(LL8N*W`M]_]HKF"BI8UBH(1PR347,[V6\*WAI'(GB M.3.P?YV)2A_8BG@(7<'4TZZZBF51`<5&Y,*\6E)*BGCQN"VE8IL+N^":>JNE3=!? MP?>Z]9OH3.Z_*I%\%R6';,,YX0ELI'Q"Z&."(5CL':U^L"?P4Y&$IVR7FU]R M_XV+;6;@N*?@"(TMDM=[KF/(*-",PBDRQ3*'#<`G*026!F2$O=COO4A,%M%P M-IK._'$`<++AVCP(I*0DWFDCBW\.%-14CB2L2>"[)AE?#R7QW(:LOWMFV&JI MY)Y`T8"DKAB68+``XM.&P`EBUPB.Z(P2V*N&4WA>A>%LZ3U#YN(:<^%L/[@4$=Z7JR+$5V':;UUX> M?CB:09H_[C=WNEF1+6%SWA"=$^M#IWPA(W=\S2'%)Z1<-H?KF.&&H=PO8N@NFH[-EAY.MG[8ZU#VDR3N>+KH38&X?J;G0Y.U2 M<)/93:Z"JRW_PO-8$`P``7PD``!D```!X;"]W;W)K M&ULE%9=;YLP%'V?M/]@^;WA(R%-HY`J7=6MTB9- MTSZ>'3!@%3"RG:;]][O73A@A="4O?%R.S_&Y]KUF=?M2E>29*RUD'=-@XE/" MZT2FHLYC^NOGP]6"$FU8G;)2UCRFKUS3V_7'#ZN]5$^ZX-P08*AU3`MCFJ7G MZ:3@%=,3V?`:OF125Q41-'<-2C>&06282?B^3 M7<5KXT@4+YF!^>M"-/K(5B5CZ"JFGG;-52*K!BBVHA3FU9)24B7+Q[R6BFU+ M\/T2S%ARY+8O9_252)34,C,3H//<1,\]WW@W'C"M5ZD`!YAVHG@6TTVPO`MF MU%NO;()^"[[7G6>B"[G_K$3Z5=0!R+.&!!>X'ENE\$EW[T^!] M$L_-R!J\9X:M5TKN">P:D-0-PST8+(%XV!%80>P&P3&]I@3FJF$9GM=AZ*^\ M9TA=-&S9H^L! MP:=2+C)@Y^:4U]J90_F^YP;'G4JX2,_-;-A-`*UNO!V+/A4[A`8,!5CHG4RA MHW!J&^`["V1']F1J.N@HLZAT7WU%SS&#*%Q=TS%8S:=5BYO84ZA'JF MYF^LU$7=`@Z[,[5C<\"#S!:2.\YRAV0[L7(!I(/9YPT<*[9QP)^ M9#CTXYO3WYZ(S1#M"[#K]_"Y9:E:"-`!Q1"(D3;VM, M>>7[F&RAX'A*9DF63.F"&_K4&U]EF4A@KI*J`&G\\_'XTHU^=^@J4HL/US%NY((A\&T+'.1<$-5AH\BT0I59D:+MP3RP.\:`V(705)I M87;A./"[GT&4\!QF%#C,>(X0^!\7P1UPV[0E%QK#H#97-21&Z1&*/]2VW>Q87X?EEXT&G MOJ>-T#(A0Y]C+$P.^)0MN38NRI==S@V+EG%+:#]%-I4I6TA#_6+WLIVV4%WF MAQIFB@8M$5)&)U2Y2+FACQN>8>XT]QP M%,A4QI8:D.36%/I55?;Z:',F])-6S%\PK8(W"L-!&5_?D??*>( M8-@O,*+U8D_K7&R&L\]!BYK,-=!\2%_-O^>F\:#D)@9=L#FLC;.4F2H*81IR M=HB&%$_K@I:`TWOQ6EE9Q)I+Y,EP^5&U1GBMJ&2VJ`<+[[61Q7Q-ZG6F'>CF M,3>IFG'D-!FH+*3`\&)LEM, MOFW!)@U)M-V_-^NZ.M&3Q_"^>?)\7ZI%KYOD$YQ7K:D1R7*4@!&M5&97H^?U M,KU!B0_<2-ZT!FIT`(\6[/JJ$I:*UL&C:RVXH,`GD60\%;9&^Q`LQ=B+/6CN ML]@P,=RV3O,0CVZ'+1?O?`>XR/,YUA"XY('C(S"U$Q&-2"DFI/UPS0"0`D,# M&DSPF&0$?W<#..W_O#`D%TVMPL'&F4;=2[84IW!J]UY-Q:[KLJX<-*(_P:^K MAZ=AU%29XZX$(';<3\-]6,55;A7(VP/KWUR3>+^O\.^LDF*PH\(!#R"3^!X] MV9V3E_+N?KU$K,C)+"4D);-U06@QIV6QJ?"Y-=YG$U"/`O\FG@%L\/[YY^P+ M``#__P,`4$L!`BT`%``&``@````A`"G1`1S"`0``Z1$``!,````````````` M`````````%M#;VYT96YT7U1Y<&5S72YX;6Q02P$"+0`4``8`"````"$`M54P M(_4```!,`@``"P````````````````#[`P``7W)E;',O+G)E;'-02P$"+0`4 M``8`"````"$`1DRD=:&PO7W)E M;',O=V]R:V)O;VLN>&UL+G)E;'-02P$"+0`4``8`"````"$`I5DE6_P"``## M"```#P`````````````````("@``>&PO=V]R:V)O;VLN>&UL4$L!`BT`%``& M``@````A`!]J7-MQ!@``M!@``!@`````````````````,0T``'AL+W=O&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A M`%#\P:?B`@``;PD``!D`````````````````T2@``'AL+W=O&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`/MBI6V4!@``IQL` M`!,`````````````````ZS,``'AL+W1H96UE+W1H96UE,2YX;6Q02P$"+0`4 M``8`"````"$`U3Z`#T$&```;&@``&`````````````````"P.@``>&PO=V]R M:W-H965T&UL4$L!`BT`%``&``@````A`#FF:278`P``=`T` M`!@`````````````````)T$``'AL+W=O&UL4$L!`BT`%``&``@` M```A`"\15V>'`P``40P``!@`````````````````#78``'AL+W=O&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A M`,?$_OS-!@``-QP``!@`````````````````GY8``'AL+W=O7FL[R`8``,H;```9```````` M`````````**=``!X;"]W;W)K&UL4$L!`BT`%``& M``@````A`-,OL539"````2H``!D`````````````````H:0``'AL+W=O&PO=V]R:W-H965T&UL4$L!`BT`%``&``@````A`$MK`>8$`P``7PD``!D````` M````````````4\,``'AL+W=O XML 15 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 16 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
Equity Transactions - Additional Information (Detail) (USD $)
In Millions, except Share data, unless otherwise specified
1 Months Ended 9 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended
Jan. 15, 2014
Sep. 30, 2014
Mar. 17, 2014
Jun. 20, 2014
IPO [Member]
Jun. 20, 2014
Underwriters [Member]
Jun. 16, 2014
Series A Convertible Preferred Stock [Member]
Mar. 17, 2014
Consultant [Member]
Stock Issued During Period, Shares, Issued for Services 7,333           9,595
Stockholders' Equity, Reverse Stock Split   May 30, 2014, the Company affected a 1-for-15 reverse stock split, by which each share of EnerJex common stock was reclassified, and changed into 1/15th of a fully paid and non-assessable share of common stock. In lieu of fractions of a share, the Company paid to holders of fractions of a share cash equal to $11.25 per share,          
Stock Issued During Period, Shares, Conversion of Convertible Securities           318,630  
Stock Issued During Period, Shares, New Issues       639,157 83,368    
Sale of Stock, Price Per Share       $ 23.75      
Stock Issued During Period, Value, New Issues       $ 15.2      
Share Price $ 7.05   $ 7.50        

XML 17 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Asset Retirement Obligation
9 Months Ended
Sep. 30, 2014
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligation
Note 4 - Asset Retirement Obligation
 
Our asset retirement obligations relate to the liabilities associated with the abandonment of oil and natural gas wells. The amounts recognized are based on numerous estimates and assumptions, including future retirement costs, inflation rates and credit adjusted risk-free interest rates. The following shows the changes in asset retirement obligations:
 
Asset retirement obligations, December 31, 2013
 
$
2,687,801
 
Liabilities incurred during the period
 
 
50,054
 
Liabilities settled during the period
 
 
(90,524)
 
Accretion
 
 
191,348
 
Asset retirement obligations, September 30, 2014
 
$
2,838,679
 
EXCEL 18 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\P9&(W-F(X-E\R,61B7S1B-F%?8F0Y-E\Q,V0X M.#`Q9C,U,3$B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE/D-O;F1E;G-E9%]#;VYS;VQI9&%T961?4W1A=&5M M93$\+W@Z3F%M93X-"B`@("`\>#I7;W)K#I7;W)K#I%>&-E;%=O#I7;W)K#I7;W)K#I%>&-E;%=O#I. M86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I7;W)K#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I.86UE M/D9A:7)?5F%L=65?365A#I.86UE/@T*("`@ M(#QX.E=O#I%>&-E M;%=O#I.86UE/D%S#I.86UE/@T*("`@(#QX.E=O#I%>&-E;%=O#I. M86UE/D1E#I%>&-E;%=O#I% M>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I!8W1I=F53 M:&5E=#XP/"]X.D%C=&EV95-H965T/@T*("`\>#I0#I%>&-E;%=O7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^4V5P(#,P+`T*"0DR,#$T/'-P86X^/"]S<&%N/CPO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)U$S/'-P86X^/"]S<&%N/CPO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^)SQS<&%N/CPO'0^)T5N97)*97@@ M4F5S;W5R8V5S+"!);F,N/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO3QS<&%N/CPO2!#;VUM;VX@4W1O8VLL M(%-H87)E'0^)SQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S M8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I M=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E/3-$=&5X="]J879A'0^)SQS<&%N/CPO'0^)SQS M<&%N/CPO&5D(&%S'0^)SQS<&%N M/CPO6%B;&4\+W1D/@T*("`@("`@("`\=&0@8VQA3PO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^)R9N8G-P.R9N8G-P.SQS<&%N/CPO3H\+W-T3PO=&0^#0H@("`@("`@ M(#QT9"!C;&%S'0^)SQS<&%N/CPO'0O:F%V87-C M3X-"B`@("`\=&%B;&4@ M8VQA'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^ M)SQS<&%N/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^)SQS<&%N/CPOF%T M:6]N/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$;G5M<#XX.3DL,3'!E M;G-E'!E;G-E*3H\+W-T'0^)SQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^)SQS<&%N/CPO&5D(&%S'0^)SQS<&%N/CPO'0^)SQS<&%N M/CPO&5D(&%S'0^)SQS<&%N/CPO M6UE M;G1S(&]N(&QO;F6UE;G1S(&]N(&YO=&4@<&%Y86)L M93PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^)SQS<&%N/CPO3X-"CPO:'1M;#X-"@T*+2TM M+2TM/5].97AT4&%R=%\P9&(W-F(X-E\R,61B7S1B-F%?8F0Y-E\Q,V0X.#`Q M9C,U,3$-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,&1B-S9B.#9? M,C%D8E\T8C9A7V)D.39?,3-D.#@P,68S-3$Q+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R M'0^)SQD:78@#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T-,14%2 M.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z M(#$P<'0[5$585"U)3D1%3E0Z(#!P>#L@34%21TE..B`P<'0@,'!X.R!&3TY4 M.B`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`H)B,X,C(P.T)L M86-K(%)A=F5N)B,X,C(Q.RD@9F]R('1H92!T:')E92!M;VYT:"!A;F0F(S$V M,#MN:6YE(&UO;G1H('!E28C.#(Q-SMS(&-O;G-O;&ED M871E9"!F:6YA;F-I86P@3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R M=%\P9&(W-F(X-E\R,61B7S1B-F%?8F0Y-E\Q,V0X.#`Q9C,U,3$-"D-O;G1E M;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,&1B-S9B.#9?,C%D8E\T8C9A7V)D M.39?,3-D.#@P,68S-3$Q+U=O'0O:'1M;#L@8VAA#L@1D].5#H@,3!P="!4:6UE M6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE M=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!- M05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE6QE/3-$)TU!4D=)3CH@,&EN(#!I;B`P:6X@,"XW M-6EN.R!724142#H@.#4E.R!"3U)$15(M0T],3$%04T4Z(&-O;&QA<'-E.R!/ M5D521DQ/5SH@=FES:6)L92<@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG M/3-$,"!A;&EG;CTS1&QE9G0^(#QT6QE/3-$)U1%6%0M04Q) M1TXZ(&-E;G1E6QE/3-$)T)/4D1%4BU"3U14 M3TTZ(",P,#`P,#`@,7!X('-O;&ED.R!415A4+4%,24=..B!C96YT97([($9/ M3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U19 M3$4Z(&YO6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO"!S;VQI9#L@1D].5"U714E'2%0Z(#0P,"<@=VED=&@],T0Q M)3X@/&1I=CXD/"]D:78^(#PO=&0^(#QT9"!S='EL93TS1"=415A4+4%,24=. M.B!R:6=H=#L@1D].5"U35%E,13H@;F]R;6%L.R!0041$24Y'+5))1TA4.B`U M<'@[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO M6QE M/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!! M1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@0D%#2T=23U5.1#H@(V9F9F9F9CL@1D].5"U325I%.B`Q,'!T.R!615)4 M24-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS M1#$P)3X@/&1I=CXR+#,V-SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(')I M9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V9F M9F9F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=CXQ,"XU,#PO M9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[ M($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U19 M3$4Z(&YO6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$ M)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T)/4D1%4BU"3U143TTZ(",P M,#`P,#`@,W!X(&1O=6)L93L@5$585"U!3$E'3CH@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO M"!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4 M+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F9CL@0T], M3U(Z(",P,#`P,#`[($9/3E0M4TE:13H@,3!P=#L@5D525$E#04PM04Q)1TXZ M(&)O='1O;3L@1D].5"U714E'2%0Z(#0P,"<@=VED=&@],T0Q,"4^(#QD:78^ M.2XS,SPO9&EV/B`\+W1D/B`\=&0@3X- M"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\P9&(W-F(X-E\R,61B7S1B M-F%?8F0Y-E\Q,V0X.#`Q9C,U,3$-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z M+R\O0SHO,&1B-S9B.#9?,C%D8E\T8C9A7V)D.39?,3-D.#@P,68S-3$Q+U=O M'0O:'1M M;#L@8VAA'0^)SQS<&%N/CPO6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O M=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P M<'0[34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA M;BP@5&EM97,L(%-E#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S M($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE2!T:&%T M('!R:6]R:71I>F5S('1H92!I;G!U=',@=&\@=F%L=6%T:6]N('1E8VAN:7%U M97,@=7-E9"!T;R!M96%S=7)E(&9A:7(@=F%L=64N(%1H92!H:65R87)C:'D@ M9VEV97,@=&AE(&AI9VAE2!I;B!A;B!O2!O8V-U#L@1D].5#H@,3!P="!4:6UE M2!T;R!A8V-E6QE/3-$)T9/3E0M1D%-24Q9.B`G M5&EM97,@3F5W(%)O;6%N)RPG6QE/3-$)T-,14%2.F)O=&@[($9/3E0M M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U) M3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE2!O8G-E2!T M;R!B92!,979E;"`R+B8C,38P.U=E)B,Q-C`[9&5T97)M:6YE('1H92!F86ER M('9A;'5E(&]F)B,Q-C`[=&AE)B,Q-C`[9&5R:79A=&EV92!L:6%B:6QI='D@ M=71I;&EZ:6YG('9A#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O M=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P M<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z M(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!A;F0@=&AA="!A M6QE/3-$ M)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4 M+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)TU! M4D=)3CH@,&EN(#!I;B`P:6X@,"XR-6EN.R!724142#H@.34E.R!"3U)$15(M M0T],3$%04T4Z(&-O;&QA<'-E.R!/5D521DQ/5SH@=FES:6)L92<@8V5L;'-P M86-I;F<],T0P(&-E;&QP861D:6YG/3-$,"!A;&EG;CTS1&QE9G0^(#QT6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`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`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4 M+5=%24=(5#H@-#`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`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T M=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=CXM/"]D M:78^(#PO=&0^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4 M+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T)/4D1% M4BU"3U143TTZ(",P,#`P,#`@,W!X(&1O=6)L93L@5$585"U!3$E'3CH@;&5F M=#L@1D].5"U35%E,13H@;F]R;6%L.R!&3TY4+49!34E,63H@=&EM97,@;F5W M(')O;6%N.R!"04-+1U)/54Y$.B`C9F9F9F9F.R!&3TY4+5-)6D4Z(#$P<'0[ M(%9%4E1)0T%,+4%,24=..B!B;W1T;VT[($9/3E0M5T5)1TA4.B`T,#`G('=I M9'1H/3-$,24^(#QD:78^)#PO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@ M0D%#2T=23U5.1#H@(V9F9F9F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-! M3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P M)3X@/&1I=CXQ+#`Q."PV-S,\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[($9/ M3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0G/CPO M9&EV/B`\+V1I=CX@/"]D:78^/'1A8FQE(&)O&5D.R<@8V5L;'-P86-I;F<] M,T0P(&-E;&QP861D:6YG/3-$,#X\='(^/'1D/CPO=&0^/"]T7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^ M)SQS<&%N/CPO#L@ M1D].5#H@,3!P="!4:6UE6QE/3-$ M)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N M;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F9CL@1D].5"U325I%.B`Q M,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P M)R!W:61T:#TS1#$P)3X@/&1I=CXR+#8X-RPX,#$\+V1I=CX@/"]T9#X@/'1D M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO M"!S;VQI9#L@5$585"U!3$E'3CH@ M;&5F=#L@1D].5"U35%E,13H@;F]R;6%L.R!&3TY4+49!34E,63H@=&EM97,@ M;F5W(')O;6%N.R!"04-+1U)/54Y$.B`C9F9F9F9F.R!&3TY4+5-)6D4Z(#$P M<'0[(%9%4E1)0T%,+4%,24=..B!B;W1T;VT[($9/3E0M5T5)1TA4.B`T,#`G M('=I9'1H/3-$,24^(#QD:78^)B,Q-C`[/"]D:78^(#PO=&0^(#QT9"!S='EL M93TS1"="3U)$15(M0D]45$]-.B`C,#`P,#`P(#%P>"!S;VQI9#L@5$585"U! M3$E'3CH@6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0[($9/3E0M4U193$4Z(&YO6QE M/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,W!X(&1O=6)L93L@5$585"U! M3$E'3CH@;&5F=#L@1D].5"U35%E,13H@;F]R;6%L.R!&3TY4+49!34E,63H@ M=&EM97,@;F5W(')O;6%N.R!"04-+1U)/54Y$.B`C8V-E969F.R!&3TY4+5-) M6D4Z(#$P<'0[(%9%4E1)0T%,+4%,24=..B!B;W1T;VT[($)/4D1%4BU43U`Z M(",P,#`P,#`@,7!X('-O;&ED.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS M1#$E/B`\9&EV/B0\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)T)/4D1%4BU" M3U143TTZ(",P,#`P,#`@,W!X(&1O=6)L93L@5$585"U!3$E'3CH@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO&5D.R<@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,#X\ M='(^/'1D/CPO=&0^/"]T7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA#L@1D].5#H@,3!P="!4:6UE6QE/3-$ M)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4 M+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE7-I8V%L(&%R'!O6QE/3-$)T-,14%2.F)O=&@[($9/3E0M M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U) M3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE&%S($-A<&ET86P@0F%N:RP@3BY! M+BP@=VAI8V@@86QL;W=S(%1E>&%S($-A<&ET86P@0F%N:R!T;R!A;'-O(&%C M="!A2!L M:65N2!I;G1E#L@1D]. M5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9 M.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z M(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%- M24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1% M3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P M.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M M04Q)1TXZ(&-E;G1E6QE/3-$)T-,14%2.F)O M=&@[0TQ%05(Z(&)O=&@G/DUO;G1H;'DF(S$V,#M6;VQU;65S/"]D:78^(#PO M=&0^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97([($9/3E0M4U19 M3$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO M9&EV/B`\+W1D/B`\=&0@6QE/3-$)T-, M14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@ M6QE/3-$)T-,14%2.F)O=&@[ M0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\+W1R/B`\='(^(#QT M9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE M9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O M=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE M/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/CDL,#`P($)B;',\+V1I=CX@ M/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U19 M3$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO M9&EV/B`\+W1D/B`\=&0@6QE/3-$)T-,14%2 M.F)O=&@[0TQ%05(Z(&)O=&@G/C@U+C`P/"]D:78^(#PO=&0^(#QT9"!S='EL M93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M86P[($9/ M3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE M/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B0\+V1I=CX@/"]T9#X@/'1D M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F9CL@1D].5"U325I%.B`Q,'!T M.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W M:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B M;W1H)SXS.2PV.#$\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ% M05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\+W1R/B`\='(^(#QT9"!S M='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M86P[ M($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P M.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z M(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B0\+V1I=CX@/"]T M9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q% M.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V9F9F9F9CL@1D].5"U325I% M.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@ M-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-, M14%2.B!B;W1H)SXX."XU-3PO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[ M(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R M;VUA;CL@0D%#2T=23U5.1#H@(V9F9F9F9CL@1D].5"U325I%.B`Q,'!T.R!6 M15)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T M:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H M)SXU-"PR.#@\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z M(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\+W1R/B`\='(^(#QT9"!S='EL M93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M86P[($9/ M3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U19 M3$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO M9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO M6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B0\+V1I=CX@/"]T9#X@ M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N M;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F9CL@1D].5"U325I%.B`Q M,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P M)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-,14%2 M.B!B;W1H)SXY-2XQ-3PO9&EV/B`\+W1D/B`\=&0@6QE M/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!! M1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA M;CL@0D%#2T=23U5.1#H@(V-C965F9CL@1D].5"U325I%.B`Q,'!T.R!615)4 M24-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS M1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXT M-"PT-C`\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE M9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O M=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\+W1R/B`\='(^(#QT9"!S='EL93TS M1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M86P[($9/3E0M M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z M(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV M/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE M/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B0\+V1I=CX@/"]T9#X@/'1D M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@0D%#2T=23U5.1#H@(V9F9F9F9CL@1D].5"U325I%.B`Q,'!T M.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W M:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B M;W1H)SXX,RXW,#PO9&EV/B`\+W1D/B`\=&0@6QE/3-$ M)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[($9/3E0M M1D%-24Q9.B!T:6UE6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G M/D-R=61E(&]I;"!C;VQL87(\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O M=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ% M05(Z(&)O=&@G/B0\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q) M1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5. M1#H@(V-C965F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@ M8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S M='EL93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXY-BXP,#PO9&EV/B`\ M+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT M.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F M9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!& M3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=# M3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXS,RPP,#,\+V1I=CX@/"]T9#X@/'1D M('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE M/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D M/B`\+W1R/B`\='(^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!& M3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[ M0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z M(&)O=&@G/B0\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ M(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@ M(V9F9F9F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T M=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL M93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXW-BXW-#PO9&EV/B`\+W1D M/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!& M3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$ M)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/D-R=61E(&]I;"!S=V%P/"]D:78^ M(#PO=&0^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-4 M64Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G M/C$O,30M,3(O,30\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ% M05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[ M0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z M(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@#L@1D]. M5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F M9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!& M3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=# M3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXQ-C(\+V1I=CX@/"]T9#X@/'1D('-T M>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$ M)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\ M+W1R/B`\='(^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4 M+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ M(&-E;G1E6QE/3-$)T-,14%2.F)O=&@[0TQ% M05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE M/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D M/B`\=&0@6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P M.SPO9&EV/B`\+W1D/B`\=&0@"!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M M4U193$4Z(&YO"!S;VQI M9#L@1D].5"U714E'2%0Z(#0P,"<@=VED=&@],T0Q)3X@/&1I=B!S='EL93TS M1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXD/"]D:78^(#PO=&0^(#QT9"!S M='EL93TS1"="3U)$15(M0D]45$]-.B`C,#`P,#`P(#-P>"!D;W5B;&4[(%1% M6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%- M24Q9.B!T:6UE6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O M=&@G/B@R-#`L,3,Q*3PO9&EV/B`\+W1D/B`\=&0@6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9 M.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z M(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W M(%)O;6%N+"!4:6UE2!V;VQU;64@:7,@=&AE('=E:6=H=&5D(&%V97)A9V4@ M=&AR;W5G:&]U="!T:&4@<&5R:6]D+CPO9&EV/B`\9&EV('-T>6QE/3-$)T-, M14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-) M6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[ M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)W=I9'1H.C$P,"4[('1A8FQE+6QA>6]U=#IF:7AE M9#LG(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN9STS1#`^/'1R/CQT9#X\ M+W1D/CPO='(^/"]T86)L93X\'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^)SQD:78@ M3X\8CY.;W1E(#8@ M+2!,;VYG+51E3X\8CX\:3Y396YI M;W(@4V5C=7)E9"!#6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2 M;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)' M24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE M2P@16YE"!+86YS87,L($EN M8RXL($)L86-K(%-A8FQE($5N97)G>2P@3$Q#(&%N9"!7;W)K:6YG($EN=&5R M97-T+"!,3$,@*")";W)R;W=E&%S($-A M<&ET86P@0F%N:RP@3BY!+B`H=&AE("8C.#(R,#M"86YK)B,X,C(Q.RD@86YD M(&]T:&5R(&9I;F%N8VEA;"!I;G-T:71U=&EO;G,@86YD(&)A;FMS('1H870@ M;6%Y(&)E8V]M92!A('!A#L@ M1D].5#H@,3!P="!4:6UE2!W:6QL(&)E M87(@2P@82!F;'5C='5A=&EN9R!R871E('!E"!M;VYT:',L(&%S M('-E;&5C=&5D(&)Y('1H92!";W)R;W=E6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O M;6%N)RPG6QE/3-$)T9/ M3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG2=S($)OF%T:6]N(%!E6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I M;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N M-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O M;6%N+"!4:6UE2!.;W1E(&EN('1H92!A;6]U;G0@;V8@)#QF;VYT('-T>6QE/3-$ M)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG#L@ M1D].5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O=&@[ M($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[ M34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@ M5&EM97,L(%-E#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG#L@1D]. M5#H@,3!P="!4:6UE#L@1D].5#H@,3!P M="!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S M($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE#L@1D].5#H@,3!P="!4:6UE2P@*&EV*2!T:&4@861D:71I;VX@;V8@8V5R=&%I;B!C;VQL871E2!I;G1E6QE/3-$)T-,14%2 M.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z M(#$P<'0[5$585"U)3D1%3E0Z(#`N-&EN.R!-05)'24XZ(#!P="`P<'@[($9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE'1H($%M96YD;65N="!T;R!T:&4@06UE M;F1E9"!A;F0@4F5S=&%T960@0W)E9&ET($%G'1H M($%M96YD;65N="!R969L96-T#L@1D].5#H@,3!P="!4:6UE6QE/3-$ M)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4 M+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P M<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)T-,14%2 M.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z M(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/ M3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!O9B!T:&4@9F%C M:6QI='D@=V%S(&5X=&5N9&5D(&)Y('1H6QE/3-$)T-,14%2.F)O=&@[($9/3E0M M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U) M3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG M6QE/3-$)T9/3E0M M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG2!W87,@/&9O;G0@3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\P9&(W-F(X-E\R,61B7S1B-F%?8F0Y-E\Q,V0X.#`Q9C,U,3$-"D-O M;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,&1B-S9B.#9?,C%D8E\T8C9A M7V)D.39?,3-D.#@P,68S-3$Q+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4 M:6UE6QE/3-$ M)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4 M+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#!P>#L@34%21TE..B`P<'0@,'!X M.R!&3TY4.B`Q,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E#L@1D].5#H@ M,3!P="!4:6UE6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W M(%)O;6%N)RPG2!T M:&4@5&5X87,@4F%I;')O860@0V]M;6ES&%S('=I=&@@<')O9'5C M=&EO;B!G6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S M($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN M.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N M+"!4:6UE&EM871E;'D@)#QF;VYT('-T>6QE M/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM M97,@3F5W(%)O;6%N)RPG6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT M4&%R=%\P9&(W-F(X-E\R,61B7S1B-F%?8F0Y-E\Q,V0X.#`Q9C,U,3$-"D-O M;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,&1B-S9B.#9?,C%D8E\T8C9A M7V)D.39?,3-D.#@P,68S-3$Q+U=O'0O:'1M;#L@8VAA7!E(&-O;G1E;G0],T0G=&5X="]H=&UL.R!C:&%R2!4'0^)SQS<&%N/CPO'0^)SQD:78@#L@1D].5#H@,3!P="!4:6UE2`Q-2P@,C`Q-"P@/&9O;G0@65E2!A6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG6QE M/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG6QE M/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM& M3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$ M)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG2`S,"P@,C`Q-"P@=&AE($-O;7!A;GD@869F96-T M960@82`Q+69O2!W:&EC:"!E M86-H('-H87)E(&]F($5N97)*97@@8V]M;6]N('-T;V-K('=A2!P M86ED('1O(&AO;&1E&ES=&EN9R!3 M97)I97,@02!P2!W:71H(&9I M;&EN9R!O9B!T:&%T($%M96YD960@86YD(%)E2!P6QE/3-$)T9/3E0M1D%-24Q9 M.B`G5&EM97,@3F5W(%)O;6%N)RPG2!D M:79I9&EN9R`H>"D@=&AA="!P;W)T:6]N(&]F('1H92!H;VQD97(G2`H M>2D@)#QF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O M;6%N)RPG#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T9/3E0M1D%-24Q9 M.B`G5&EM97,@3F5W(%)O;6%N)RPG6QE/3-$)T9/3E0M1D%- M24Q9.B`G5&EM97,@3F5W(%)O;6%N)RPG2!O<'1I;VX@=&AA="!W87,@97AE3X-"CPO:'1M;#X- M"@T*+2TM+2TM/5].97AT4&%R=%\P9&(W-F(X-E\R,61B7S1B-F%?8F0Y-E\Q M,V0X.#`Q9C,U,3$-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,&1B M-S9B.#9?,C%D8E\T8C9A7V)D.39?,3-D.#@P,68S-3$Q+U=O'0O:'1M;#L@8VAA'0^)SQS<&%N/CPO6QE/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D]. M5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2 M;VUA;CM&3TY4+5-)6D4Z(#$P<'0[34%21TE..B`P<'0@,'!X.R!&3TY4.B`Q M,'!T(%1I;65S($YE=R!2;VUA;BP@5&EM97,L(%-E6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA M;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ M(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE#L@1D].5#H@,3!P="!4:6UE6QE M/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM& M3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P M="`P<'@[($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!A8W%U:7)E M9"!A(#QF;VYT('-T>6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@3F5W(%)O M;6%N)RPGF]N=&%L(&1R:6QL:6YG)B,Q-C`[=&%R9V5T:6YG(&]I;"!P6QE/3-$)T9/3E0M1D%-24Q9.B`G5&EM97,@ M3F5W(%)O;6%N)RPG6QE/3-$)T-,14%2.F)O=&@[($9/3E0M M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U) M3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE6UE;G0@8F5G86X@ M;VX@3V-T;V)E&5C=71I=F4@5FEC92!0#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T-, M14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-) M6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[ M($9/3E0Z(#$P<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE3Y/;B!/8W1O8F5R(#,Q+"`R,#$T+"!T:&4@0V]M<&%N M>2!P86ED(&$@9&EV:61E;F0@;V8@87!P2`D/&9O;G0@6QE/3-$)T-,14%2.F)O=&@[($9/ M3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$58 M5"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE3XF(S$V,#L\+V1I=CX@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.R!&3TY4 M+49!34E,63I4:6UE6QE/3-$)T9/3E0M4TE:13H@,3!P="<^3VX@3F]V96UB M97(@-"P@,C`Q-"P@=&AE($-O;7!A;GD@9&5C;&%R960@82!D:79I9&5N9"!O M9B!A<'!R;WAI;6%T96QY("0\9F]N="!S='EL93TS1"=&3TY4+49!34E,63H@ M)U1I;65S($YE=R!2;VUA;B3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\P9&(W-F(X-E\R,61B M7S1B-F%?8F0Y-E\Q,V0X.#`Q9C,U,3$-"D-O;G1E;G0M3&]C871I;VXZ(&9I M;&4Z+R\O0SHO,&1B-S9B.#9?,C%D8E\T8C9A7V)D.39?,3-D.#@P,68S-3$Q M+U=O'0O M:'1M;#L@8VAA6QE M/3-$)TU!4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O=&@[ M($9/3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[ M5$585"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P M<'0@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!O9B!S=&]C:R!O<'1I;VYS(&ES M(&%S(&9O;&QO=W,Z/"]D:78^(#QD:78@#L@1D].5#H@,3!P M="!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I;65S M($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U!3$E'3CI,969T.R!4 M15A4+4E.1$5.5#H@,&EN.R!724142#H@,3`P)2<^(#QT86)L92!S='EL93TS M1"=-05)'24XZ(#!I;B`P:6X@,&EN(#`N-S5I;CL@5TE$5$@Z(#@U)3L@0D]2 M1$52+4-/3$Q!4%-%.B!C;VQL87!S93L@3U9%4D9,3U6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,7!X('-O;&ED M.R!415A4+4%,24=..B!C96YT97([($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z M(&YO"!S;VQI9#L@1D]. M5"U714E'2%0Z(#0P,"<@=VED=&@],T0Q)3X@/&1I=CXF(S$V,#L\+V1I=CX@ M/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-4 M64Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F9CL@1D].5"U3 M25I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!"3U)$15(M5$]0 M.B`C,#`P,#`P(#%P>"!S;VQI9#L@1D].5"U714E'2%0Z(#0P,"<@=VED=&@] M,T0Q,"4^(#QD:78^,C,Q+#$S,SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M M4U193$4Z(&YO6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/ M3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ M(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q) M1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5. M1#H@(V9F9F9F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@ M8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=CXM M/"]D:78^(#PO=&0^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!& M3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$ M)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,W!X(&1O=6)L93L@5$585"U!3$E' M3CH@;&5F=#L@1D].5"U35%E,13H@;F]R;6%L.R!&3TY4+49!34E,63H@=&EM M97,@;F5W(')O;6%N.R!"04-+1U)/54Y$.B`C8V-E969F.R!&3TY4+5-)6D4Z M(#$P<'0[(%9%4E1)0T%,+4%,24=..B!M:61D;&4[($9/3E0M5T5)1TA4.B`T M,#`G('=I9'1H/3-$,24^(#QD:78^)B,Q-C`[/"]D:78^(#PO=&0^(#QT9"!S M='EL93TS1"="3U)$15(M0D]45$]-.B`C,#`P,#`P(#-P>"!D;W5B;&4[(%1% M6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%# M2T=23U5.1#H@(V-C965F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U! M3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@ M/&1I=CXR,S$L,S,R/"]D:78^(#PO=&0^(#QT9"!S='EL93TS1"=415A4+4%, M24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T M:6UE6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,W!X(&1O=6)L93L@ M5$585"U!3$E'3CH@;&5F=#L@1D].5"U35%E,13H@;F]R;6%L.R!&3TY4+49! M34E,63H@=&EM97,@;F5W(')O;6%N.R!"04-+1U)/54Y$.B`C8V-E969F.R!& M3TY4+5-)6D4Z(#$P<'0[(%9%4E1)0T%,+4%,24=..B!B;W1T;VT[($9/3E0M M5T5)1TA4.B`T,#`G('=I9'1H/3-$,24^(#QD:78^)#PO9&EV/B`\+W1D/B`\ M=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO&5D.R<@8V5L;'-P86-I;F<],T0P(&-E;&QP861D:6YG/3-$,#X\ M='(^/'1D/CPO=&0^/"]T7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA&5D M(%!R:6-E($-O;6UO9&ET>2!3=V%P#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/3E0M1D%-24Q9.E1I M;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U)3D1%3E0Z(#`N M-6EN.R!-05)'24XZ(#!P="`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`Q,'!T M.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W M:61T:#TS1#$P)3X@/&1I=CXM/"]D:78^(#PO=&0^(#QT9"!S='EL93TS1"=4 M15A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%- M24Q9.B!T:6UE"!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M M4U193$4Z(&YO6QE/3-$)T)/4D1%4BU"3U14 M3TTZ(",P,#`P,#`@,W!X(&1O=6)L93L@5$585"U!3$E'3CH@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO M"!D;W5B;&4[(%1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4 M+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V9F9F9F9CL@0T], M3U(Z(",P,#`P,#`[($9/3E0M4TE:13H@,3!P=#L@5D525$E#04PM04Q)1TXZ M(&)O='1O;3L@1D].5"U714E'2%0Z(#0P,"<@=VED=&@],T0Q,"4^(#QD:78^ M+3PO9&EV/B`\+W1D/B`\=&0@"!D;W5B;&4[(%1%6%0M04Q)1TXZ M(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$ M)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,W!X(&1O=6)L93L@5$585"U!3$E' M3CH@3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\P9&(W-F(X-E\R,61B M7S1B-F%?8F0Y-E\Q,V0X.#`Q9C,U,3$-"D-O;G1E;G0M3&]C871I;VXZ(&9I M;&4Z+R\O0SHO,&1B-S9B.#9?,C%D8E\T8C9A7V)D.39?,3-D.#@P,68S-3$Q M+U=O'0O M:'1M;#L@8VAA6QE/3-$)TU! M4D=)3CH@,'!T(#!P>#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/3E0M M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U) M3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U19 M3$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(')I M9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@ M1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C M965F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=CXR+#8X-RPX M,#$\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[ M($9/3E0M4U193$4Z(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z M(&YO6QE/3-$)U1%6%0M04Q)1TXZ(&QE M9G0[($9/3E0M4U193$4Z(&YO"!S M;VQI9#L@5$585"U!3$E'3CH@;&5F=#L@1D].5"U35%E,13H@;F]R;6%L.R!& M3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N.R!"04-+1U)/54Y$.B`C9F9F M9F9F.R!&3TY4+5-)6D4Z(#$P<'0[(%9%4E1)0T%,+4%,24=..B!B;W1T;VT[ M($9/3E0M5T5)1TA4.B`T,#`G('=I9'1H/3-$,24^(#QD:78^)B,Q-C`[/"]D M:78^(#PO=&0^(#QT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B`C,#`P,#`P M(#%P>"!S;VQI9#L@5$585"U!3$E'3CH@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@ M,W!X(&1O=6)L93L@5$585"U!3$E'3CH@;&5F=#L@1D].5"U35%E,13H@;F]R M;6%L.R!&3TY4+49!34E,63H@=&EM97,@;F5W(')O;6%N.R!"04-+1U)/54Y$ M.B`C8V-E969F.R!&3TY4+5-)6D4Z(#$P<'0[(%9%4E1)0T%,+4%,24=..B!B M;W1T;VT[($)/4D1%4BU43U`Z(",P,#`P,#`@,7!X('-O;&ED.R!&3TY4+5=% M24=(5#H@-#`P)R!W:61T:#TS1#$E/B`\9&EV/B0\+V1I=CX@/"]T9#X@/'1D M('-T>6QE/3-$)T)/4D1%4BU"3U143TTZ(",P,#`P,#`@,W!X(&1O=6)L93L@ M5$585"U!3$E'3CH@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[ M($9/3E0M4U193$4Z(&YO&5D.R<@8V5L;'-P86-I;F<],T0P M(&-E;&QP861D:6YG/3-$,#X\='(^/'1D/CPO=&0^/"]T7!E M.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@ M/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C M;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^)SQD:78@#L@1D].5#H@,3!P="!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/3E0M M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$585"U) M3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@5&EM M97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)T-,14%2.F)O=&@[($9/ M3E0M1D%-24Q9.E1I;65S($YE=R!2;VUA;CM&3TY4+5-)6D4Z(#$P<'0[5$58 M5"U)3D1%3E0Z(#`N-6EN.R!-05)'24XZ(#!P="`P<'@[($9/3E0Z(#$P<'0@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G M/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$ M)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T-, M14%2.F)O=&@[0TQ%05(Z(&)O=&@G/DUO;G1H;'DF(S$V,#M6;VQU;65S/"]D M:78^(#PO=&0^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!C96YT97([($9/ M3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C M,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE M/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D M/B`\=&0@6QE/3-$)T-,14%2 M.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\+W1R/B`\ M='(^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q% M.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ% M05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&-E;G1E6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/CDL,#`P($)B;',\ M+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/ M3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C M,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$ M)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/C@U+C`P/"]D:78^(#PO=&0^(#QT M9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z M(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B0\+V1I=CX@/"]T M9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q% M.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F9CL@1D].5"U325I% M.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@ M-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-, M14%2.B!B;W1H)SXS.2PV.#$\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O M=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\+W1R/B`\='(^ M(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N M;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[ M($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G M/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B0\+V1I M=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4 M+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U) M3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V9F9F9F9CL@1D]. M5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=% M24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB M;W1H.T-,14%2.B!B;W1H)SXX."XU-3PO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N M;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S M(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V9F9F9F9CL@1D].5"U325I%.B`Q M,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P M)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-,14%2 M.B!B;W1H)SXU-"PR.#@\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[ M0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\+W1R/B`\='(^(#QT M9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/ M3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C M,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U19 M3$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B0\+V1I=CX@ M/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-4 M64Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ M('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F9CL@1D].5"U3 M25I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=( M5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H M.T-,14%2.B!B;W1H)SXY-2XQ-3PO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE M=R!R;VUA;CL@0D%#2T=23U5.1#H@(V-C965F9CL@1D].5"U325I%.B`Q,'!T M.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W M:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B M;W1H)SXT-"PT-C`\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q) M1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ% M05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\+W1R/B`\='(^(#QT9"!S M='EL93TS1"=415A4+4%,24=..B!L969T.R!&3TY4+5-464Q%.B!N;W)M86P[ M($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P M.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z M(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B0\+V1I=CX@/"]T M9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q% M.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I M;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@(V9F9F9F9CL@1D].5"U325I% M.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@ M-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-, M14%2.B!B;W1H)SXX,RXW,#PO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[ M($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z M(&)O=&@G/D-R=61E(&]I;"!C;VQL87(\+V1I=CX@/"]T9#X@/'1D('-T>6QE M/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-, M14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@ M6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O M=&@[0TQ%05(Z(&)O=&@G/B0\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1% M6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%# M2T=23U5.1#H@(V-C965F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U! M3$E'3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@ M/&1I=B!S='EL93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXY-BXP,#PO M9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ M(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@ M(V-C965F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T M=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL M93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXS,RPP,#,\+V1I=CX@/"]T M9#X@/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z M(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV M/B`\+W1D/B`\+W1R/B`\='(^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L M969T.R!&3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$ M)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2 M.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O=&@[ M0TQ%05(Z(&)O=&@G/B0\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1%6%0M M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[(%!!1$1)3D#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=2 M3U5.1#H@(V9F9F9F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E' M3CH@8F]T=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I M=B!S='EL93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXW-BXW-#PO9&EV M/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(')I M9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/D-R=61E(&]I;"!S=V%P M/"]D:78^(#PO=&0^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L969T.R!& M3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M04Q)1TXZ(&-E M;G1E6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z M(&)O=&@G/C$O,30M,3(O,30\+V1I=CX@/"]T9#X@/'1D('-T>6QE/3-$)U1% M6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2.F)O M=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$ M)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO6QE/3-$)T-,14%2 M.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)T-,14%2.F)O=&@[ M0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@#L@1D].5"U&04U)3%DZ('1I;65S(&YE=R!R;VUA;CL@0D%#2T=23U5.1#H@ M(V-C965F9CL@1D].5"U325I%.B`Q,'!T.R!615)424-!3"U!3$E'3CH@8F]T M=&]M.R!&3TY4+5=%24=(5#H@-#`P)R!W:61T:#TS1#$P)3X@/&1I=B!S='EL M93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXQ-C(\+V1I=CX@/"]T9#X@ M/'1D('-T>6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z(&YO M6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\ M+W1D/B`\+W1R/B`\='(^(#QT9"!S='EL93TS1"=415A4+4%,24=..B!L969T M.R!&3TY4+5-464Q%.B!N;W)M86P[($9/3E0M1D%-24Q9.B!T:6UE6QE/3-$)U1%6%0M M04Q)1TXZ(&-E;G1E6QE/3-$)T-,14%2.F)O M=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@6QE/3-$)U1%6%0M04Q)1TXZ(&QE9G0[($9/3E0M4U193$4Z M(&YO6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G/B8C,38P.SPO9&EV M/B`\+W1D/B`\=&0@6QE/3-$)T-,14%2.F)O=&@[0TQ%05(Z(&)O=&@G M/B8C,38P.SPO9&EV/B`\+W1D/B`\=&0@"!D;W5B;&4[(%1%6%0M04Q)1TXZ(&QE9G0[ M($9/3E0M4U193$4Z(&YO"!S;VQI9#L@1D].5"U714E'2%0Z(#0P,"<@=VED=&@],T0Q)3X@/&1I=B!S M='EL93TS1"=#3$5!4CIB;W1H.T-,14%2.B!B;W1H)SXD/"]D:78^(#PO=&0^ M(#QT9"!S='EL93TS1"="3U)$15(M0D]45$]-.B`C,#`P,#`P(#-P>"!D;W5B M;&4[(%1%6%0M04Q)1TXZ(')I9VAT.R!&3TY4+5-464Q%.B!N;W)M86P[($9/ M3E0M1D%-24Q9.B!T:6UE6QE/3-$)T-,14%2.F)O=&@[0TQ% M05(Z(&)O=&@G/B@R-#`L,3,Q*3PO9&EV/B`\+W1D/B`\=&0@3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\P M9&(W-F(X-E\R,61B7S1B-F%?8F0Y-E\Q,V0X.#`Q9C,U,3$-"D-O;G1E;G0M M3&]C871I;VXZ(&9I;&4Z+R\O0SHO,&1B-S9B.#9?,C%D8E\T8C9A7V)D.39? M,3-D.#@P,68S-3$Q+U=O'0O:'1M;#L@8VAA2!O9B!S=&]C:R!O<'1I;VYS*2`H1&5T86EL*2`H55-$("0I/&)R M/CPO'0^)SQS<&%N/CPO&5R8VES960\+W1D/@T*("`@ M("`@("`\=&0@8VQA7!E.B!T97AT+VAT;6P[(&-H87)S M970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@ M:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M M;#L@8VAA'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X- M"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP M92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^)SQS<&%N M/CPO'0^)SQS<&%N/CPO2!6;VQU;65S($)B M;',\+W1D/@T*("`@("`@("`\=&0@8VQA'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO M'0^)S(P,3,M,#D\'0^)SQS<&%N M/CPO'0^)SQS<&%N/CPO'0^)S(P,30M,#$\&EM=6T@?"!$97)I=F%T:79E($EN'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)S(P,34M,3(\'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)S(P,38M,#8\'0^)SQS<&%N/CPO'0^)SQS M<&%N/CPO2!6;VQU;65S($)B;',\+W1D/@T*("`@("`@("`\=&0@8VQA&EM M=6T@?"!$97)I=F%T:79E($EN'0^)SQS<&%N/CPO'0^ M)SQS<&%N/CPO'0^)S(P,30M M,3(\'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO3PO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^)SQS<&%N/CPO M'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO3PO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'0^)SQS<&%N/CPO'0^)SQS M<&%N/CPO'0^ M)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N M/CPO'0^)SQS M<&%N/CPO'0^ M)SQS<&%N/CPO'0^)SQS<&%N/CPO3PO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO M'0^)SQS<&%N M/CPO'0^)SQS M<&%N/CPO'0^ M)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO M'0^)SQS<&%N M/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA'0^)SQS<&%N/CPO'0@5'=E;'9E($UO;G1H'0^)SQS<&%N/CPO M'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO&%S(%)A:6QR;V%D($-O;6UI'0^)SQS M<&%N/CPO3X- M"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\P9&(W-F(X-E\R,61B7S1B M-F%?8F0Y-E\Q,V0X.#`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`@/&AE860^ M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT M/3-$)W1E>'0O:'1M;#L@8VAA'0^)SQS<&%N M/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO'0^)SQS<&%N/CPO7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T* M#0H\>&UL('AM;&YS.F\],T0B=7)N.G-C:&5M87,M;6EC'1087)T7S!D8C XML 19 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements
9 Months Ended
Sep. 30, 2014
Fair Value Measurements [Abstract]  
Fair Value Measurements
Note 3 – Fair Value Measurements
 
We hold certain financial assets which are required to be measured at fair value on a recurring basis in accordance with the Statement of Financial Accounting Standard No. 157, "Fair Value Measurements" ("ASC Topic 820-10"). ASC Topic 820-10 establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). ASC Topic 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability. The three levels of the fair value hierarchy under ASC Topic 820-10 are described below:
 
Level 1. Valuations based on quoted prices in active markets for identical assets or liabilities that an entity has the ability to access. We believe our debt approximates fair value at September 30, 2014.
 
Level 2. Valuations based on quoted prices for similar assets or liabilities, quoted prices for identical assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. We consider the derivative liability to be Level 2. We determine the fair value of the derivative liability utilizing various inputs, including NYMEX price quotations and contract terms.
 
Level 3. Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. We consider our marketable securities to be Level 3.
 
Our derivative instruments consist of variable to fixed price commodity swaps.
 
 
 
Fair Value Measurement
 
 
 
Level 1
 
Level 2
 
Level 3
 
Crude oil contracts
 
$
-
 
$
(240,131)
 
$
-
 
Marketable Securities
 
$
-
 
$
-
 
$
1,018,673
 
XML 20 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current assets:    
Cash and cash equivalents $ 560,684 $ 1,079,356
Restricted cash 0 228,840
Accounts receivable 1,858,251 2,461,746
Inventory 264,001 238,794
Marketable securities 1,018,673 1,018,573
Deposits and prepaid expenses 522,829 373,994
Total current assets 4,224,438 5,401,303
Non-current assets:    
Fixed assets, net of accumulated depreciation of $1,909,974 and $1,785,401 2,424,199 2,406,591
Oil and gas properties using full-cost accounting, net of accumulated DD&A of $12,842,863 and $10,567,906 63,299,218 61,349,403
Other non-current assets 1,031,140 834,180
Total non-current assets 66,754,557 64,590,174
Total assets 70,978,995 69,991,477
Current liabilities:    
Accounts payable 2,729,299 2,424,009
Accrued liabilities 1,517,634 3,070,461
Derivative liability 246,791 1,011,708
Total current liabilities 4,493,724 6,506,178
Asset retirement obligation 2,838,679 2,687,801
Long-term debt 21,019,968 31,547,255
Derivative liability 0 339,642
Total non-current liabilities 23,858,647 34,574,698
Total liabilities 28,352,371 41,080,876
Commitments & Contingencies      
Stockholders' Equity:    
Preferred Stock Value 0 4,780
Common stock, $0.001 par value, 250,000,000 shares authorized; shares issued and outstanding 7,643,114 at September 30, 2014 and 7,281,158 at December 31, 2013 7,643 7,281
Paid-in capital 63,670,570 49,913,535
Accumulated other comprehensive income (552,589) (552,589)
Retained (deficit) (20,499,752) (20,462,406)
Total stockholders' equity 42,626,624 28,910,601
Total liabilities and stockholders' equity 70,978,995 69,991,477
Series A Preferred Stock [Member]
   
Stockholders' Equity:    
Preferred Stock Value $ 752 $ 0
XML 21 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Basis of Presentation
9 Months Ended
Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Note 1 – Basis of Presentation
 
The unaudited condensed consolidated financial statements of EnerJex Resources, Inc. (“we”, “us”, “our”, “EnerJex” and “Company”) have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and reflect all adjustments which, in the opinion of management, are necessary for a fair presentation.  All such adjustments are of a normal recurring nature.  The results of operations for the interim period are not necessarily indicative of the results to be expected for a full year.  Certain amounts in the prior year statements have been reclassified to conform to the current year presentations.  The statements should be read in conjunction with the financial statements and footnotes thereto included in our Annual Report Form 10-K for the fiscal year ended December 31, 2013.
  
Our consolidated financial statements include the accounts of our wholly-owned subsidiaries, EnerJex Kansas, Inc., Black Sable Energy, LLC, Working Interest, LLC and Black Raven Energy, Inc. (“Black Raven”) for the three month and nine month periods ended September 30, 2014 and for the year ended December 31, 2013. On September 27, 2013, we acquired Black Raven. Accordingly, only the financial position, results of operations and cash flows of Black Raven for the quarter ended December 31, 2013 were included in the Company’s consolidated financial statements for the year ended December 31, 2013. All intercompany transactions and accounts have been eliminated in consolidation.
XML 22 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivative Instruments (Derivative Contracts) (Detail) (USD $)
9 Months Ended
Sep. 30, 2014
Derivative [Line Items]  
Fair Value $ (240,131)
Crude Oil Swap | Derivative Instrument 2
 
Derivative [Line Items]  
Monthly Volumes Bbls 5,800
Price/bbl 88.55
Fair Value 54,288
Crude Oil Swap | Derivative Instrument 3
 
Derivative [Line Items]  
Monthly Volumes Bbls 3,000
Price/bbl 95.15
Fair Value 44,460
Crude Oil Swap | Derivative Instrument 4
 
Derivative [Line Items]  
Monthly Volumes Bbls 2,850
Price/bbl 83.70
Fair Value (190,463)
Crude Oil Swap | Derivative Instrument 6
 
Derivative [Line Items]  
Monthly Volumes Bbls 1,240
Price/bbl 76.74
Fair Value (221,262)
Crude Oil Swap | Derivative Instrument 7
 
Derivative [Line Items]  
Monthly Volumes Bbls 1,380
Price/bbl 90.25
Fair Value 162
Crude Oil Swap | Minimum | Derivative Instrument 2
 
Derivative [Line Items]  
Term 2015-01
Crude Oil Swap | Minimum | Derivative Instrument 3
 
Derivative [Line Items]  
Term 2013-09
Crude Oil Swap | Minimum | Derivative Instrument 4
 
Derivative [Line Items]  
Term 2011-07
Crude Oil Swap | Minimum | Derivative Instrument 6
 
Derivative [Line Items]  
Term 2012-07
Crude Oil Swap | Minimum | Derivative Instrument 7
 
Derivative [Line Items]  
Term 2014-01
Crude Oil Swap | Maximum | Derivative Instrument 2
 
Derivative [Line Items]  
Term 2015-12
Crude Oil Swap | Maximum | Derivative Instrument 3
 
Derivative [Line Items]  
Term 2014-12
Crude Oil Swap | Maximum | Derivative Instrument 4
 
Derivative [Line Items]  
Term 2015-12
Crude Oil Swap | Maximum | Derivative Instrument 6
 
Derivative [Line Items]  
Term 2015-12
Crude Oil Swap | Maximum | Derivative Instrument 7
 
Derivative [Line Items]  
Term 2014-12
Deferred premium put [Member] | Derivative Instrument 1
 
Derivative [Line Items]  
Monthly Volumes Bbls 9,000
Price/bbl 85.00
Fair Value 39,681
Deferred premium put [Member] | Minimum | Derivative Instrument 1
 
Derivative [Line Items]  
Term 2016-01
Deferred premium put [Member] | Maximum | Derivative Instrument 1
 
Derivative [Line Items]  
Term 2016-06
Crude Oil Collar [Member] | Derivative Instrument 5
 
Derivative [Line Items]  
Monthly Volumes Bbls 1,900
Price/bbl 96.00
Fair Value $ 33,003
Crude Oil Collar [Member] | Minimum | Derivative Instrument 5
 
Derivative [Line Items]  
Term 2014-01
Crude Oil Collar [Member] | Maximum | Derivative Instrument 5
 
Derivative [Line Items]  
Term 2014-12
XML 23 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Commitments & Contingencies - Additional Information (Detail) (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Commitments and Contingencies Disclosure [Line Items]    
Operating Leases, Rent Expense $ 123,000 $ 126,000
Operating Leases, Future Minimum Payments Due, Next Twelve Months 40,000  
Operating Leases, Future Minimum Payments, Due in Two Years 154,000  
Operating Leases, Future Minimum Payments, Due in Three Years 147,000  
Operating Leases, Future Minimum Payments, Due in Four Years 145,000  
Operating Leases, Future Minimum Payments, Due in Five Years 90,000  
Operating Leases, Future Minimum Payments, Due Thereafter 77,000  
Texas Railroad Commission [Member]
   
Commitments and Contingencies Disclosure [Line Items]    
Letters of Credit Outstanding, Amount $ 50,000  
XML 24 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 25 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Options
9 Months Ended
Sep. 30, 2014
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Stock Options
Note 2 - Stock Options
 
A summary of stock options is as follows:
 
 
 
Options
 
Weighted
Average
Price
 
Outstanding December 31, 2013
 
 
231,133
 
$
9.36
 
Granted
 
 
2,367
 
 
10.50
 
Cancelled
 
 
(2,168)
 
 
10.50
 
Exercised
 
 
-
 
 
-
 
Outstanding September 30, 2014
 
 
231,332
 
$
9.33
 
XML 26 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (Parenthetical) (USD $)
9 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Sep. 30, 2014
Series A Preferred Stock [Member]
Preferred stock, par value   $ 0.001 $ 0.001
Preferred stock, shares authorized   25,000,000 25,000,000
Preferred stock, shares issued   4,779,460 751,815
Preferred Stock Shares Outstanding   4,779,460 751,815
Common stock, par value $ 0.001 $ 0.001  
Common stock, shares authorized 250,000,000 250,000,000  
Common stock, shares issued 7,643,114 7,281,158  
Common stock, shares outstanding 7,643,114 7,281,158  
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment $ 1,909,974 $ 1,785,401  
Properties using full-cost accounting $ 12,842,863 $ 10,567,906  
Preferred Stock, Dividend Rate, Percentage     10.00%
XML 27 R17.htm IDEA: XBRL DOCUMENT v2.4.0.8
Asset Retirement Obligation (Tables)
9 Months Ended
Sep. 30, 2014
Asset Retirement Obligation [Abstract]  
Changes in Asset Retirement Obligations
The following shows the changes in asset retirement obligations:
 
Asset retirement obligations, December 31, 2013
 
$
2,687,801
 
Liabilities incurred during the period
 
 
50,054
 
Liabilities settled during the period
 
 
(90,524)
 
Accretion
 
 
191,348
 
Asset retirement obligations, September 30, 2014
 
$
2,838,679
 
XML 28 R1.htm IDEA: XBRL DOCUMENT v2.4.0.8
Document And Entity Information
9 Months Ended
Sep. 30, 2014
Nov. 14, 2014
Document Information [Line Items]    
Document Type 10-Q  
Amendment Flag false  
Document Period End Date Sep. 30, 2014  
Document Fiscal Year Focus 2014  
Document Fiscal Period Focus Q3  
Entity Registrant Name EnerJex Resources, Inc.  
Entity Central Index Key 0000008504  
Current Fiscal Year End Date --12-31  
Entity Filer Category Smaller Reporting Company  
Trading Symbol ENRJ  
Entity Common Stock, Shares Outstanding   7,643,114
XML 29 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivative Instruments (Tables)
9 Months Ended
Sep. 30, 2014
Derivative Instruments [Abstract]  
Derivative Contracts
The following derivative contracts were in place at September 30, 2014:
 
 
 
Term
 
Monthly Volumes
 
Price/Bbl
 
Fair Value
 
Deferred premium put
 
1/16-6/16
 
9,000 Bbls
 
$
85.00
 
$
39,681
 
Crude oil swap
 
1/15-12/15
 
5,800 Bbls
 
$
88.55
 
 
54,288
 
Crude oil swap
 
9/13-12/14
 
3,000 Bbls
 
$
95.15
 
 
44,460
 
Crude oil swap
 
7/11-12/15
 
2,850 Bbls
 
$
83.70
 
 
(190,463)
 
Crude oil collar
 
1/14-12/14
 
1,900 Bbls
 
$
96.00
 
 
33,003
 
Crude oil swap
 
7/12-12/15
 
1,240 Bbls
 
$
76.74
 
 
(221,262)
 
Crude oil swap
 
1/14-12/14
 
1,380 Bbls
 
$
90.25
 
 
162
 
 
 
 
 
 
 
 
 
 
$
(240,131)
 
XML 30 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Operations (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Oil revenues $ 3,530,610 $ 2,694,506 $ 10,787,788 $ 7,228,543
Natural gas revenues 280,078 0 827,273 0
Total revenues 3,810,688 2,694,506 11,615,061 7,228,543
Expenses:        
Direct operating costs 1,920,968 916,567 4,964,009 2,450,596
Depreciation, depletion and amortization 899,177 484,478 2,495,317 1,347,576
Professional fees 126,581 264,050 578,696 889,529
Salaries 396,899 138,875 1,076,334 570,864
Administrative expense 243,136 220,693 635,364 534,340
Total expenses 3,586,761 2,024,663 9,749,720 5,792,905
Income from operations 223,927 669,843 1,865,341 1,435,638
Other income (expense):        
Interest expense (267,764) (137,831) (1,005,431) (393,204)
Gain (loss) on derivatives 1,831,105 (1,160,374) 20,012 (992,556)
Other income (loss) 399 8,460 4,574 66,841
Total other income (expense) 1,563,740 (1,289,745) (980,845) (1,318,919)
Net income (loss) 1,787,667 (619,902) 884,496 116,719
Net income (loss) 1,787,667 (619,902) 884,496 116,719
Preferred dividends (522,398) (199,492) (1,378,135) (567,142)
Net income (loss) attributable to common stockholders $ 1,265,269 $ (819,394) $ (493,639) $ (450,423)
Net income (loss) per common share basic and diluted $ 0.17 $ (0.18) $ (0.07) $ (0.10)
Weighted average shares 7,642,748 4,534,550 7,426,949 4,522,468
XML 31 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Commitments & Contingencies
9 Months Ended
Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]  
Commitments & Contingencies
Note 7 - Commitments & Contingencies
 
As of September 30, 2014, we had an outstanding irrevocable letter of credit in the amount of $50,000 issued in favor of the Texas Railroad Commission. The letter of credit is required by the Texas Railroad Commission for all companies operating in the state of Texas with production greater than limits they prescribe.
 
Rent expense for the nine months ended September 30, 2014 and 2013 was approximately $123,000 and $126,000 respectively. Future non-cancellable minimum lease payments are approximately $40,000 for the remainder of 2014, $154,000 for 2015, $147,000 for 2016, $145,000 for 2017, $90,000 for 2018 and $77,000 for 2019. 
XML 32 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Long-Term Debt
9 Months Ended
Sep. 30, 2014
Long-Term Debt [Abstract]  
Long-Term Debt
Note 6 - Long-Term Debt
 
Senior Secured Credit Facility
 
On October 3, 2011, the Company, EnerJex Kansas, Inc., Black Sable Energy, LLC and Working Interest, LLC ("Borrowers") entered into an Amended and Restated Credit Agreement with Texas Capital Bank, N.A. (the “Bank”) and other financial institutions and banks that may become a party to the Credit Agreement from time to time. The facilities provided under the Amended and Restated Credit Agreement were used to refinance Borrowers’ prior outstanding revolving loan facility with Bank, dated July 3, 2008, and for working capital and general corporate purposes. 
 
At our option, loans under the facility will bear stated interest based on the Base Rate plus Base Rate Margin, or Floating Rate plus Floating Rate Margin (as those terms are defined in the Credit Agreement). The Base Rate will be, for any day, a fluctuating rate per annum equal to the higher of (a) the Federal Funds Rate plus 0.50% and (b) the Bank's prime rate. The Floating Rate shall mean, at Borrower's option, a per annum interest rate equal to (i) the Eurodollar Rate plus Eurodollar Margin, or (ii) the Base Rate plus Base Rate Margin (as those terms are defined in the Amended and Restated Credit Agreement). Eurodollar borrowings may be for one, two, three, or six months, as selected by the Borrowers. The margins for all loans are based on a pricing grid ranging from 0.00% to 0.75% for the Base Rate Margin and 2.25% to 3.00% for the Floating Rate Margin based on the Company's Borrowing Base Utilization Percentage (as defined in the Amended and Restated Credit Agreement). 
 
On December 15, 2011, we entered into a First Amendment to Amended and Restated Credit Agreement and Second Amended and Restated Promissory Note in the amount of $50,000,000 with the Bank. The Amendment reflected the addition of Rantoul Partners as an additional Borrower and added as additional security for the loans the assets held by Rantoul Partners. 
 
On August 31, 2012, we entered into a Second Amendment to Amended and Restated Credit Agreement with the Bank. The Second Amendment: (i) increased our borrowing base to $7,000,000, (ii) reduced the minimum interest rate to 3.75%, and (iii) added additional new leases as collateral for the loan. 
  
On November 2, 2012, we entered into a Third Amendment to Amended and Restated Credit Agreement with the Bank. The Third Amendment (i) increased our borrowing base to $12,150,000, and (ii) clarified certain continuing covenants and provided a limited waiver of compliance with one of the covenants so clarified for the quarter ended December 31, 2011. 
 
On January 24, 2013, we entered into a Fourth Amendment to Amended and Restated Credit Agreement, which was made effective as of December 31, 2012 with the Bank.  The Fourth Amendment reflects the following changes: (i) the Bank consented to the restructuring transactions related to the dissolution of Rantoul Partners, and (ii) the Bank terminated a Limited Guaranty, as defined in the Credit Agreement, executed by Rantoul Partners in favor of the Bank. 
 
On April 16, 2013, the Bank increased our borrowing base to $19.5 million. 
 
On September 30, 2013, we entered into a Fifth Amendment to the Amended and Restated Credit Agreement.  The Fifth Amendment reflects the following changes:  (i) an expanded principal commitment amount of the Bank to $100,000,000, (ii) an increase in our Borrowing Base to $38,000,000, (iii) the addition of Black Raven Energy, Inc. to the Credit Agreement as a borrower party, (iv) the addition of certain collateral and security interests in favor of the Bank, and (v) the reduction of our current interest rate to 3.30%.   
 
On November 19, 2013, we entered into a Sixth Amendment to the Amended and Restated Credit Agreement. The Sixth Amendment reflects the following changes: (i) the addition of Iberia Bank as a participant in our credit facility, and (ii) a technical correction to our covenant calculations.
 
On May 22, 2014, we entered into a Seventh Amendment to the Amended and Restated Credit Agreement. The Seventh Amendment reflects the Bank’s consent to our issuance of up to 850,000 shares of our 10% Series A Cumulative Perpetual Preferred Stock.
 
On August 15, 2014, we entered into an Eighth Amendment to the Amended and Restated Credit Agreement. The Eighth Amendment reflects the following changes: (i) the borrowing base was increased from $38 million to $40 million, and (ii) the maturity of the facility was extended by three years to October 3, 2018
 
Our current borrowing base is $40 million, of which we had borrowed $21 million as of September 30, 2014. We intend to conduct an additional borrowing base review in early 2015. For the nine month period ended September 30, 2014, and for the year ended December 31, 2013, the interest rate on amounts borrowed under our credit facility was 3.3%. This facility expires on October 3, 2018. 
XML 33 R23.htm IDEA: XBRL DOCUMENT v2.4.0.8
Long-Term Debt - Additional Information (Detail) (USD $)
1 Months Ended 1 Months Ended 9 Months Ended 1 Months Ended
Sep. 30, 2014
Dec. 15, 2011
First Amendment
Rantoul Partners
Aug. 31, 2012
Second Amendment
Aug. 31, 2012
Second Amendment
Minimum
Nov. 02, 2012
Third Amendment
Apr. 16, 2013
Fourth Amendement
Sep. 30, 2013
Fifth Amendment
May 22, 2014
Seventh Amendment
Series A Cumulative Redeemable Perpetual Preferred Stock [Member]
Aug. 15, 2014
Eight Amendment
Sep. 30, 2014
Line of Credit
Federal Funds Rate
Sep. 30, 2014
Line of Credit
Base Rate
Minimum
Sep. 30, 2014
Line of Credit
Base Rate
Maximum
Sep. 30, 2014
Line of Credit
Floating Rate
Minimum
Sep. 30, 2014
Line of Credit
Floating Rate
Maximum
Sep. 30, 2013
Line of Credit
Fifth Amendment
Federal Funds Rate
Debt Instrument [Line Items]                              
Debt instrument interest rate, margin                   0.50% 0.00% 0.75% 2.25% 3.00% 3.30%
Line of credit facility, maximum borrowing capacity   $ 50,000,000         $ 100,000,000                
Line of credit facility, current borrowing capacity 40,000,000   7,000,000   12,150,000 19,500,000 38,000,000   40,000,000            
Debt Instrument, Interest Rate, Increase       3.75%                      
Credit Facility $ 21,000,000                            
Debt Instrument, Interest Rate, Stated Percentage 3.30%                            
Preferred Stock, Dividend Rate, Percentage               10.00%              
XML 34 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Options (Summary of stock options) (Detail) (USD $)
9 Months Ended
Sep. 30, 2014
Options  
Options Outstanding, Beginning Balance 231,133
Options Granted 2,367
Options Cancelled (2,168)
Options Exercised 0
Options Outstanding, Ending Balance 231,332
Weighted Average Price  
Weighted Average Price Outstanding, Beginning Balance $ 9.36
Weighted Average Price Granted $ 10.50
Weighted Average Price Cancelled $ 10.50
Weighted Average Price Exercised $ 0
Weighted Average Price Outstanding, Ending balance $ 9.33
XML 35 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Options (Tables)
9 Months Ended
Sep. 30, 2014
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]  
Summary of Stock Options
A summary of stock options is as follows:
 
 
 
Options
 
Weighted
Average
Price
 
Outstanding December 31, 2013
 
 
231,133
 
$
9.36
 
Granted
 
 
2,367
 
 
10.50
 
Cancelled
 
 
(2,168)
 
 
10.50
 
Exercised
 
 
-
 
 
-
 
Outstanding September 30, 2014
 
 
231,332
 
$
9.33
 
XML 36 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Equity Transactions
9 Months Ended
Sep. 30, 2014
Equity [Abstract]  
Equity Transactions
Note 8 – Equity Transactions
 
On January 15, 2014, 7,333 shares were issued to two employees of the Company as compensation. The share price on the issue date was $7.05. From February 5, 2014 through March 17, 2014, 9,595 shares were issued for professional services rendered on behalf of the Company. The share price on all issuance dates for those shares was $7.50.
 
Effective after the close of trading in EnerJex common stock on May 30, 2014, the Company affected a 1-for-15 reverse stock split, by which each share of EnerJex common stock was reclassified, and changed into 1/15th of a fully paid and non-assessable share of common stock. In lieu of fractions of a share, the Company paid to holders of fractions of a share cash equal to $11.25 per share, which was the minimum value designated in the amended and restated certificate of designations affecting the reverse stock split.
 
On June 16, 2014, we adopted the Amended and Restated Certificate of Designation modifying the terms of our then-existing Series A preferred stock. Concurrently with filing of that Amended and Restated Certificate of Designation, the holders of our existing Series A preferred stock exchanged each outstanding share of such existing Series A preferred stock for (i) a number of shares of our common stock into which such Series A preferred stock was then convertible immediately prior to the exchange (318,630 shares in the aggregate), and (ii) a number of shares of Series A preferred stock equal to the quotient determined by dividing (x) that portion of the holder's original Series A preferred stock purchase price that had not yet been paid in dividends, by (y) $23.75.
 
On June 20, 2014, we closed an underwritten initial public offering of 639,157 shares of our Series A preferred stock at a purchase price of $23.75 per share for gross proceeds of $15.2 million. The shares sold to the underwriters included 83,368 shares pursuant to a 45-day option that was exercised by the underwriters in full on June 20, 2014.
XML 37 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Events
9 Months Ended
Sep. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events
Note 9 - Subsequent Events  
 
We have reviewed all material events through the date of this report in accordance with ASC 855-10.
 
On October 14, 2014, the Company acquired a 100% working interest in leases covering 3,400 mineral acres in Weld County, Colorado for approximately $300,000. This acreage is prospective for horizontal drilling targeting oil production from the Niobrara and Codell formations and has a remaining term of approximately 4 years.
 
On October 15, 2014, the Company appointed Kent Roach, whose employment began on October 20, 2014, as the company’s Executive Vice President of Engineering.
 
On October 31, 2014, the Company paid a dividend of approximately $156,000 on our 10% Series A Cumulative Perpetual Preferred Stock to shareholders of record at the close of business on October 15, 2014. The dividend was for the period beginning October 1, 2014 through October 31, 2014.
 
On November 4, 2014, the Company declared a dividend of approximately $156,000 on our 10% Series A Cumulative Perpetual Preferred Stock to be paid on December 1, 2014 to shareholders of record at the close of business on November 14, 2014.  The dividend is for the period beginning of November 1, 2014 through November 30, 2014.
XML 38 R16.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2014
Fair Value Measurements [Abstract]  
Variable to Fixed Price Commodity Swaps Derivative Instruments
Our derivative instruments consist of variable to fixed price commodity swaps.
 
 
 
Fair Value Measurement
 
 
 
Level 1
 
Level 2
 
Level 3
 
Crude oil contracts
 
$
-
 
$
(240,131)
 
$
-
 
Marketable Securities
 
$
-
 
$
-
 
$
1,018,673
 
XML 39 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Asset Retirement Obligation (Changes in Asset Retirement Obligations) (Detail) (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Reconciliation Of Changes In Asset Retirement Obligations [Line Items]    
Asset retirement obligations, beginning balance $ 2,687,801  
Liabilities incurred during the period 50,054  
Liabilities settled during the period (90,524)  
Accretion 191,348 84,578
Asset retirement obligations, end balance $ 2,838,679  
XML 40 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], USD $)
0 Months Ended 1 Months Ended
Oct. 14, 2014
Nov. 04, 2014
Series A Cumulative Perpetual Preferred Stock [Member]
Oct. 31, 2014
Series A Cumulative Perpetual Preferred Stock [Member]
Subsequent Event [Line Items]      
Dividends, Preferred Stock   $ 156,000 $ 156,000
Preferred Stock, Dividend Rate, Percentage   10.00% 10.00%
Leaseholds Covering Percentage 100.00%    
Lessor Leasing Arrangements, Operating Leases, Term of Contract 4 years    
Lease Hold Covering Value $ 300,000    
XML 41 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities    
Net income (loss) $ 884,496 $ 116,719
Depreciation and depletion 2,495,317 1,347,576
Stock, options and warrants issued for services 460,343 162,021
Accretion of asset retirement obligation 191,348 84,578
Settlements of asset retirement obligations (90,524) (36,758)
(Gain) loss on derivatives (1,104,559) 67,748
Loss on disposal of fixed assets 181 7,785
Changes in assets and liabilities:    
Accounts receivable 603,495 (137,386)
Inventory (25,207) (169,940)
Deposits and prepaid expenses (206,638) (187,477)
Accounts payable 305,290 (101,643)
Accrued liabilities (1,096,538) 650,172
Cash flows from operating activities 2,417,004 1,803,395
Cash flows from investing activities    
Settlements of asset retirement obligations 0 (18,910)
Purchase of fixed assets (238,148) (103,874)
Additions to oil and gas properties (5,162,656) (4,962,813)
Proceeds from sale of oil and gas properties 987,939 454,973
Proceeds from sale of fixed assets 0 1,600
Net cash acquired from Black Raven 0 656,693
Cash flows used in investing activities (4,412,865) (3,972,331)
Cash flows from financing activities    
Payments on long-term debt (14,027,287) 0
Payments on note payable 0 (600,000)
Deferred financing costs (196,960) (211,584)
Proceeds from borrowings 3,500,000 4,000,000
Proceeds from sale of preferred stock 13,350,731 0
Dividends paid on preferred stock (1,378,135) (567,143)
Cash flows from financing activities 1,248,349 2,621,273
Net increase (decrease) in cash (747,512) 452,337
Cash - beginning 1,308,196 767,494
Cash - ending 560,684 1,219,831
Supplemental disclosures:    
Interest paid 503,571 212,751
Non-cash transactions:    
Share based payments issued for services $ 460,343 $ 162,021
XML 42 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Derivative Instruments
9 Months Ended
Sep. 30, 2014
Derivative Instruments [Abstract]  
Derivative Instruments
Note 5 - Derivative Instruments
 
We have entered into certain derivative or physical arrangements with respect to portions of our crude oil production to reduce our sensitivity to volatile commodity prices and/or to meet hedging requirements under our Credit Facility. We believe that these derivative arrangements, although not free of risk, allow us to achieve a more predictable cash flow and to reduce exposure to commodity price fluctuations. However, derivative arrangements limit the benefit of increases in the prices of crude oil. Moreover, our derivative arrangements apply only to a portion of our production.
 
We have an Intercreditor Agreement in place between us, our counterparties, BP Corporation North America, Inc. (BP), Cargill, Inc. and our agent Texas Capital Bank, N.A., which allows Texas Capital Bank to also act as agent for the counterparties for the purpose of holding and enforcing any liens or security interests resulting from our derivative arrangements. Therefore, we are not required to post additional collateral, including cash.
 
The following derivative contracts were in place at September 30, 2014:
 
 
 
Term
 
Monthly Volumes
 
Price/Bbl
 
Fair Value
 
Deferred premium put
 
1/16-6/16
 
9,000 Bbls
 
$
85.00
 
$
39,681
 
Crude oil swap
 
1/15-12/15
 
5,800 Bbls
 
$
88.55
 
 
54,288
 
Crude oil swap
 
9/13-12/14
 
3,000 Bbls
 
$
95.15
 
 
44,460
 
Crude oil swap
 
7/11-12/15
 
2,850 Bbls
 
$
83.70
 
 
(190,463)
 
Crude oil collar
 
1/14-12/14
 
1,900 Bbls
 
$
96.00
 
 
33,003
 
Crude oil swap
 
7/12-12/15
 
1,240 Bbls
 
$
76.74
 
 
(221,262)
 
Crude oil swap
 
1/14-12/14
 
1,380 Bbls
 
$
90.25
 
 
162
 
 
 
 
 
 
 
 
 
 
$
(240,131)
 
 
Monthly volume is the weighted average throughout the period.
 
The current fair value is shown as a derivative instrument in the current liabilities and the long term fair value is included in other long term assets on the balance sheet.
ZIP 43 0001144204-14-068772-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001144204-14-068772-xbrl.zip M4$L#!!0````(`%*!;D5._=,=P27`%^[N%SZ[/>,K;.9XN['A**0":EH'4Y)L>!O[W3>S2A)""#>FP4B@ MB>ENH*ZLS/SE427(#_\<6B9Y8L+ECOUQ1ZO4=@BS=*)5M,H^P1?U\HWS5*[7M";Y M[UJ]5=]KU?;^A_SOW?7_D?.'-BF3Y^?GB@$S>'*&BNY8I%P.USFA+JP!\_QQ M=ON<-6M4J3HD$_LF&@KF.+W0F)ZXB M&;7#!FQ-C3*Y_75B%,Y8<40/>M8:56SN``5A=VPU>#0@WGFOJAJCKE-3/S=D M7^WP\+`J6Z.N+D_K")-JU3^NKQ[T/K-HF=NN1VU]@A;^`NW)_MQUFG5M_Z41 MJDHY8G0![\.)=,>W/3&:9)O+ M]$K/>:H&C2B91KFFE1M:-,P7`A1PUKB@58IT/H8:$CISH9Z/[T_MJ0, MX/83<[WT(:HM93>$%MH'4'8$S(!P1"RY4J?L^Z1`*CY8T& M[...RZV!B?HK/^L+UOVX@S`OARBN#%UCAU1A(F4M3AW;8T.//##=`R,D+04L MH6R%'C1R4.>[FO8(_Z.4VD[M\+%1DZ\52=$(9GO<&P6?19]R`S_OGE+SN?:O*_@]U:\T,U.3A"LMILGABH?Y$7LU':CZ8.697&F\:CMYYL8M9LN3L&\GHY-.[_$!9F?N\1WDNTP(9CQXCO[UFED=)GP7\_('#P`. MTWNG)G7=VZ[L<#SD[ANS.VG*6`^)BM8+&@P@9#@PN MV%+4939;/E13%QKOO)I&8;9=?61W"WW(ASZLUMO$[,,%Y>(W:OKLTA[XGGO% MGIBIQ?4AZG`RBEY^`1%1H?='LGN^E6/>_4WUGV;8!EJ.;VA*O="4UVE*?5LU MI5%HRNLTI;&1FI)^HO]X%KA=\+\6]ZT[WXNKRQFL]$0]_@3\<3WAXT;ON2M= M^&-:XZW-TL>?C&ZHYPLF1UYSFUN^%>]Y3^T>R[?NO<2LG4]XX]6:Q>W9NK8( M(3%>AA]-<'RYJZ7+.-KP"SKR=@C+\HU0IH!)AP4P5P?,54!E608B+OD"F"\` M\U3X!KOEYIW@.GMXIH/OPF7[V2DF">.J9)9R!K7FC"N\)GS@G-.+^WRVM& M6E*`,X/@+/SFFX,S2YZS`.?;A[0/?%BXS0Q&M!ERFI&*%+#,&BP+A[F]B68! MRS7`DCTQN_"7&01FEOSE6$D*:&8/FH7/W&*?64#SQ>\CK>,A]HT&77Z?4U\V M"M;Q];HU/&.ZT=J["V5>\/&O0IVWXYFK_"OT?,]F%/J\%0]$K%V=W^S2 M=!,4>HGW@]FYH-TXE7Z;.XU-T.><&>@U7"1L@#+/=]Q8J/-VG/&M\R=A+IC! M!#4O?-MP[ZF7"!HZWI@U4INON,UNNZ>"&2$_5-SI?-@V*<.LW`87X%H-N#;R MAK4`5_'+0Z\-S$P'8E.[5WBO?`),16Q30BSPPK6C5 M:P\7+GC7ZQ_#6P,_BG=6BG5!=6X"OXJ3B#="W33;0]2E2&H;#T%DY9'LE#B; M+.3R*CSE%R)+4M)EZ\F2Z]/,%CB6TI+ELS00N'"]>0TH>#;/\:XI]<,Y7;:]%&318L6UE1SV98V.T1G]W8 M:ON3MO]U&:!FK$;=LD5^$-;O>SSGO?Z\!F@#)9ZV_75=(QZL$.,'816]QP<& MK<;V2CQU_VL1>1U%OKK"B=ICK:Y$WNYSL<423]O^F@0.KKQ67\6C`@=!-E^' M;'Z,]9=.C@M#\#I#L$&'O=+PO#8'3EBK91Y%[<8.>R$LJ<<+=)[ZEF_*1W[N MF<&813LFNV-BP#R?F@L4:WR4SPO14.J6'+.%NC^+"-1VP\>=W5LUS=QD;@Q:W//9+?=2]O@3]P`-.53\J$YF;$=]71J@@'K MLQ'@*7=?;2,:96U_%;YU+^9;]X*#GLBW.O83$QY'( M#]J+G2:M3K_J@2^ZO+N=T"&_XW*#4S%ZH`C@3="AV5L*NT1,R)VJU%=RXYRN M*K<`LF/3=#S<^NW`B_SV-JO.3*84JA1%OH6U6;>UF8QWX[)>8KRKU<9F`UZK MHZW5G0X`H]E?/C2=/R4.Q1)-^7]29>:&9G0H#@B^;2:UV@)F$@:MY&`-X%(/ M4T6\#F@6T"F@DV7HU%^=-^.%2G,UT(E['2V$3J'C"^MX1BVOM@KUF?'\NH+D M<7'8DE"DV6Q97[ZSYH>U?9LK77+[5+"D_"U&75^P3P%YLDLX7=@67P)GFS'_ MKP]GCT#4XP-.DEA&'K.R)*=PZ(UO,4$]1R1U8KP^=YUF7=MOP0)II,69DIPQ M9<$S9CL6MU]>\EOL2*XY/6G8&MOY?#R<(:!O,&&.N3L=<\; M.V\2?X$'JQ+VP)_"R:3^88>YA/+A;^7RN2F-(WE@.I[RE,NJZTL_R^$>V\87 M9O2XW3N&04_<`^MYQEW=='"M-MB2$Q,L*`D,RSWKSG1).W)+%Q3F,1ZUG4__ M,+TC8`=QO9$)[N/Z^/[SY4V+U`8>_!D>D8O;FW:+:/B^#;;>)3?LF=P[%K5+ MZH,206O>)3O_Z'E')#'=Z=7Y\7VKXWA]-5/YXOCZ\NI?K<141[+MX?*_SM52 M1PN3L4.HR7O@C?[T77!N(TD5$@6\=.P>OKMQ/$9V29F,64UBO,;.U7%O^19V MM,S=M<__:)'*) MTR6.+XB./UY#'&Z2@7`,7X(-^\%BOLYD%Q=#%XFG$;8\.9@WF0Q@9%F.@9\. M\)=O7$)MHPJ$0!^+,8_T%19AJK]\+@)Z?!NHEM.JAS#&$@D?QZB,/X+==YC) M&6S0ZU.@O\]<%M]V?*LET&FO[_B]/K$=CW0%8[A)P=VOV&0ZS\1WD3BJ]^64 ME%B.8$`\T*%[F``2G;I]TL6NL)<8&R#*DC8$/TIL&[H#UWPJN1JC_8OS#(N( MTBQRB[19%UX#M=S6!9A&8";(%]L"UD)3)*G8(M>P`4>N@AR=M1(= M#,P1<6Q3RH^&.A"JP%CPE9R@(KJ.CT,&$&ISG/;DCIPZ`F0H58[<@##[Y!A"!@!_":;7*^3=R=W[ M$CFEHL=-,_@,%1JGHSU<33X9`CT&W`.+<4)MP,A-Y;A2(L]]KO<57MR4;E*# M3!=1Y!%H4]-U'3&6":KM)-'CMB[:!U1K'W;@2H#V'S$I*4([).A MS*,+VS)`.,!;V+*./W+HX=?T2HA-TY>DHIDHL+(B@D%(H$^H?\CJF%`Q;!.@ M=N#40(QCP%",$@>>RK0;M1+!`*Z5D]V^@7B.KRX_W[2N6!>9.[$#I/_WR[/V M%^Q>^W$/1'[7Y8/!A[<N(M/DNQ`4&.:[H`B^#_NU-3[`2)1O1^3)D*ZOIQ? M?OZ"K*X/AK%V(VR/;1YF0\L14M+^UQ608CO"HN8D0XDG.6H#1X7D*#DY/OWE M\_WMKS=G+?+WKOPO94.PG_;EZ?%5N!Z(RG.LH./O`:'-&NSKF1M>_^-.X_#' M;Z4"ZB5.U5?Q^6Q5J7I&WAB@;?O^ZZ]F0)L):R.V7HC^M0RX!M_7-T=C/OSF MF)"(NQO!CFU7!V``.DOP?O;'G?IKF2%_=K9ZTC$W@A>%+GR/+EQ0'DO$?J.F MSS:"*ZO2BJHGOC.P-&58_9V?R_>*MMWP5.SM.5%[-2L.=BNU6N9UH$!`@8!5(:!Q6-H[ MT#*O!.N#0$:2AK6>19]&CPVXSW2P+F69FP59LY?9R[`72A=VRUH=_B[$OX7B MWRT=K#E?R*WX,V;^\QXM+9$3"^0+!Y7=P@!F>_=9NW784"CL-DOU@X/,:\/6 M)PYKO6W(1N*0@RQS@T^:JUI#)@[-0OQ;*/Y&<=%0'+-F(EI:ZS'KX6YE?2.0ARQS*[#%G??8XRA3Q#H8&W MSHW,:\/6IP[%%4,>\LS-/6/>KV(UXN**84O%KY7JS>**83L/6+.5.*SUK'5_ MK[*_MI.3`@&;ECCD1>W?U>O@`/;JQ15#YO.$C%PQ%-]AV-83YN*"8:O%7VH< M%!<,VWF\FJT\8;T7#+5*O?@.PSR[#WX<_>2VW;Z]!N)5G3FB#8;$=4QN!+_, MOBD863%_-A1.VEZ]`%/6,X^UWE"LW_/F($7=W./I0OR%^`OQ9W_W68BH-NQL M-D?2SX+NSXBG&Q!/&X[?0?+6#X^`R/;M76K$OX:<_95L6Q.N%N;;(EJR"G+(A/@`A.QGM1UF><2 M1\W>H2:U=0;4,.9-:T'X1AHS6?NPXP@@5U8B#+@MS4@+ZR0>$=FG;-(1J%>K MRX?,.)JK@J$ZNXA>&>&K:ORE&+\,C%V\.YKH!96%/NC'6\Q:NC MU[>G.GH'7]Q@8?0]4B;(OC+RCR`#I<`ZD>@R#=G4_:W4Y*Q(%OB"XXL'9G-' MP!`P(V`/5&UQ$I84ESOBD6QR(J5\>H);F]SJGB-K\U0B MYS83/[,A^87:+G55=>H2.3$IV)X':7NQ1P]Z7EV=2A?PNR.^8BW@RZ#ZLVIY MMW/B".$\,^'NO"?R>$=Z`BQ0;6-!;!L]`XZ_AS'4&ZO%N.CV,_?Z,VMADW=( MMQ+`0;U>.\*FZ*UV]%[5U)9^I\MM\"\P!_U94862ET>@H!N_'S'K.QPC9X'E76/"H/'J_=G1/USQW! MQYXLGNX,4&-+4JAN3*5B\C5-4%Z*-R]2OF$M=E!PU*4@T#J!-^1>RM#TW=C; M:ZQ&#PN`#ES`(K)T^[C?Y$>J+WE'$3=8)AXC.E<6;#=07U7$EX:;]PHFXV4# MLDM2^;"HO$'!LE#2-7W=\]6:2N48MMN^1=A?/BAC`,P^I!70XG2!FO?RDPMF M2&V]`":YL2V@B+L0.X4RGDAR?TI(XJ?23R[*X*>IS%9)!62KOKF',^(G/TJD MO.N\#[AL?_T)30`:""1?;7N2BVZ?PMXMAG('XQ/B&\:%PJ:Q74?BE-R(>/". MJQ7/?>$8\@OUL2W'/HR)]QWG[^?1A7GD.Y=%`Z''*.G(?0(7W,#>2M$[-NB` M]^R@,X)ADE"7#XF%V20@`DAQF89F&XOU1C-&'E@F`&H'02:IOBRJ\>6,M_4X07N6,";YWP,`(U?3'-SIT_ MR1W!$+">,9U9&+%JNV'(^LP2(26YX`*LHQ2;#*/@P_GB+6R%Q,2!?U('W(%Y MX*[KB!&1N66@(-1R?!@-GN>'92K^;@U_?QG_3&B_BM]"WZ(LWGBO$"4&ME%2 M9L`&4<.!MGL*W/%-<@?1+$1QKCSIL:,N&%`'9E1N&C['[;OQ#BXF;1ABA/A3 MEE6NI`YQ^LR45CFY6(&.MT#'L=^#W)LT-(F->AHVXNK].G"DJ%URLI8,0KBM M"Z9LL!]S\M(NPW)CQBX5+?NI8"FI&`?VXNL!)BQN&!,[=]>2H`_++!R*N3D^B$ M@Q*36QR9\$SYDTK'=`C!3"Y/+B0C(,#'C^550C2+Z\36"Y4>4AL!$B"*QY'O M#^R;5CB5MT#&S]0&,8Q(O2FYWDB-N$!A0;*OAP9,UN=Z'[0%!<:'ISPJV8K"*5L-4FMMR$DJN`MA\!E[# MV)',<[]QA%(B;`@169`(3\5W',_\GAP1@BW!KYQH8.X(QCAL(+A)M+T0,)'( MW];"'U8F0Q`(?4P3%+10@K=0@@8P9?P2&LV\_)(/FW1"?-N>=&$0!$^AQ=B'O,7]H'(01_]+CHF8M-;-(I+D6]51P$D0BXT<4 M@%HV]!27Y"4N,(6,&(6T%4B=?"QINE!Q-I4F?UK^_^Q=>6_CQI+_*L)@'S`! M9`^;-[-X`30^\HSUC`W;F\'^9=!BV^8^BE1XV-9^^NUJ4N(AWJ+,IL0`,TEL MB5WU8W7=79WP_#+B9'J?)"]$,J(,$)Z\ZL;:%S:Z79Y'N)G/?R'5R),FQ5) MB&E28YIM/E3+LA+#Z?K.[=3.MG.?;8)J:`@_HUGU%TPB[MQF\,9]W@*K?=YI M'09T[+/S6YF<3!)(A_H9_DQ2B`^IT?CSV\'WT<=8H'2G:QN@VZD^5M.%3M8Y MW?86]OVHJA2JLC`U'F.P25+MJ23H=[;#JAWU.5?D,]B;N^83'L.+/1%\!QX7L828!*`;2Q]["%ZA M;T!=`S#]U'+K2_(Z/TSB96/B;W1<'1:VY#RQR>R._3/$R]O;BHCA,JP%6BOB M2`4DEB`H.?;)',)TRZ(*8=W-09LG)DM]%>IZ:/;<(SQBCA98OT<7+W0S]+B> M([W6+5:2F+\X.)Q=KR4JA6O)G:\E%:ZE=+R65O#^P`^=="[=2C&(VF%XO$)BZQZPKN[@'!FGS&2BEUQ=6VC)>X_)^$K MGCPDNBE*?'!VNMRVD!^2W[%%?**S)\YQ=IH+4*:"D,X&K#/I]%Q;Y#5#RO3= MF>#%TG)6.$RS)QKWPW;(!;A*M$H3^L[T.?0(!UXW^M/'T0-MU#?J5H&?($V;[MO M!"\(,L`["8](/.%7W7K.8)Z+,00;FQ()P.Q%'@^<"EJOWSWPF<-5`PA)#DM- M7,3]>,]^=-(0S'+8PNGJ1A1PKL\*0[\(D18/3#J(39?2`$7$.%F04A*42MI( MATZ(6)X@"?*QQ)_`$2G>TC+]*<358;H9Z^2O4,0)([G4@S2[>&[I9`=!6VJ8 MF`T+,5$-"'U#$G2T/L,YQ<`B8<92-\.Z#P0J<"C"\ZCGMEDJN<3IY`I";QS` M+Y[==6LA?1S]0II+^FRR:N0J%7UI,M>]U_A'@#@-[1!JB,Z3149>XLN6N*UO0FD(0FD?IAO6WPG/5H?Q`]R2-C;;>R?YW MM$RT",PA&K=T;/D#&Z_[$\.\FVXXR_6IH?SR9?HEG\;)P#.+VK=]Q>$(T M*I:3']@G^,/TJ`ALBMO+31T[V@7D85'\-I+'N_\.'-^$O)F!P\;I,$M*MIM)W\_7C]]"25DZ[KJ% M*)8!.$KMFB\F.$*%ZRT#XK71-!)U>NC3(!]M._YDA7WB+!'8J1(F3-*%B4QZ MU*A\7?W6<<5RZP#1Z/KTI"?Y9'V"^CZT1$&KJN^NZ?L8VE)-'V:*+(,GRYP3 MV2."%:FO3GU_6="F2%)R=UZD5@K%FTBSGI5Q.+-*12WV#ZCF>G$=CPXNF6-L M>)T?;472*9_?FAZ''G`FR-JU[[#)]T>!F^#15Q_DR;G$QBS"8A:''2;'@5L,$1_`M*TV_K+A^P`#"Q M!0JHH/9IYZFW2?_0`V&14^J_TKHN>"6@`_3YG&SF^##D[/YLHDK2">(&8-^' M^>H2<\Z0F)L]F$=5=[WKYMYL=^]ZIM:F9XM(1'3L&UK2JP6]@/LK^`IY!R"B5J[@$*8G&)2?V%=LJ4$ MO1*?^__(IPD?A@L&WGZ)^?!U]P73&`KNYTLT)H0#U:(44: M%C5H6_<3"8;M9-=C'%5$J;>PDV>5.J)P0<_WPG;Z"[SU6Z(+(.CTPYPE"63&Z!)V3TVZ4@Y73..S=HI%0B::!R52,>Y&-P@ M"$E3!86GP",R[:7:@]?;+@P--]!"Q+5NN8DZJLD>,VVJ_3??S=3ELF]O`!N' ML99/XK#0/Y!0W[E!8$M`,X*7/+"8Z[D94)X)/;=QSV7WW!,.]9&3')NVWA"M MMF1\>E1<[Y_T"?3-2S!+-B=Y:/R@S`;=_$)(I4=23M5`HC,^[Z*/W,;=C_.WG77:)]1D5G-J.S#(1FF^N]0 MSZ2VUVSB!8L%-+1`@28LX2_#8,ND@\G"\XC>[^SC]EG^9GBGS36]0"?-`=#_ MZ^K\X5_P\>1]/J&>RNZMM6&%/Z>*E/BV"D%J=)/0VSVGI!`YT`L/4Q" ME+\N[BZO;W[]/GDS/2@'5FJT_!["=E=UMK^N+XMG\]O)Y,PU216^T3[O'MR= M&=0!+\TNY^V56\(NR#"14B*(_!;K-\NX,71\A\-\A[^BFYYH+=N6?H MCOBN[FL,.WC0%`FCM#.BOSJ4]KIWE!Z!D&NG@LR\".Q1PAFQYMU=^)QGS?^$ MB;2A&W=0%\NRHTE&R5Z*7>I'./!WTE9\B6?UM?'F,:Y;AV,S]RFNO-I,% M:67$9NXW[KQ8'Z@Y9N_H*-D;JB]_,KY*QO7,**FCI+)B/3^O!KL]2?*8G:?* M7@MA^3$QG.`)UA\1.(2``8JQ@L"/4L^\U+>QX'4+LLP)^]G-]MQM"$ES'[?F3[:_,YC#!!V?$=@:SS!_Q49@D8=?ZJ;[%\P"F]'[W6>V<6WJ M3W"5@XF]'U@'$HP;^PYNH8.3B&0-TWL`@ML?0%#&`PBLD0DWQ9"-8+Z%QXY, M&Z[%#2=MPRU:ID=/I+[IKDFWC>],Z':(ALS005<&S'SUWO7E>%9YWZ<'^.3I M`>U`3P_L*5:65&:.%#"<`?FL'O4]02!(R<9U=0L/L'HQ)M3^Q?\;63W0?LO16XQT%E!D! M9;8H\947N2D2T-AT.@KIJ$59%5!&7+O]9GA^Z.Z_<9A7OX="%BUN]?766>B/ MZK=58*\AS>!:!<8VP%',CTC,/\?Y',5^%'NFQ'X_8HZF'-S4I?36_<6"N)=T M?^W>QA'/T,QK)!M85UFG;5_%/65G]$:Z*YL^^P[[9EA,OWFRS!?:N[9C_YAZ M1/UC,'0Y',H:WE'HO$>7"5",Z:U3<`FI/W$W.$^<#=#[&>1ZK&U7`QK:REB& M2>&WM?NL1&RGXU!!UM@;LXA5,XED59FJ7)N&DH,1U(/+)N8IKH2G!!=5!O12 M!B-PU_QFLWG$`XZ]C$;H[9GJ?VC%OEL.; M?M&ZE%AXBF<;M"]!:D=4@MQ;E6Z?E=+$,(O-<9[).W9AML5D:>ES M#!?A;EO=\>;+/1=14Z,KN/(:ZI96;5Y4W=&O9.X0GZ#]HTI?A/\)CWK]LG." MB#D`T+'SSS<&X`&[BX-@?7SU30'X06S?J[5*S#IQ+.+[?.ZUJZ,X[(?_DC/L M-<"@M[)^^_YD'006HRSL(@MY\Y`.`95]2<7!)2Q;N)7G^!G3UI^M`84JG7*'=V'5N`/&'5`7"D&;RNKA=;\?7-#0:RXZ'K(&D\+[$I:] M];P,Q&'L-25)P@7I!/'D[_'U'^'KEZ9JS_'"8%\_8^I_Z-[2_MHZZ\0+ZJDT M*D"VN6>MZG"@6T$2I[QZ>/W/!Q<"9YF](H('#X;7&CZ^_ M1GYI+#2,:58FO*5>TZR:=-I?YF3<`6/@P,Y6$,6I*(]%-^8#A['B,(0H\W!3 MSLHWA,:*P]&^?GZJ2F/%X3CSK6P%#OU6'(13I3=G:=P!AQ8X#$7LOR*-(V&" MT-OXJ`&(/B-Q`B,%!GK^V!W#RB/,,:-O2!Q+#,?[^J?:6&(XT@0K6Y%"OR4& M>3S+P#KW`XH4AKP5!*@Z'][=$P<7.HPEAB'$F8>;8U:^(7XL,1SMZT=37AQ+ M#,>98&4K<.@UUZK(I\KAW20R[H"QQ%!>8N!Y8@!D?BPQ,!\G,%)B&,\P'&N& M>2PP'/7KGPKJ6&`XSO0J6W%"OP4&[I0?SS`P>@?4H$H0K%P1U>MV0C(_;B;6 M(X]>*Q3]6]X!A*B'FYX>7__X^L?7SS[W+'A4!Y:;'=#;9T'V^[ANL;%\='3= M8HW>W,3*)6YN2B,A-D8#&DLAQWMM8?MWBUC6-K[J+O^L>-LZ:Z==>X6=+K.("!2!;88?]&`-[\O$P'.3R)OWSR]7/R^__,$+"`E"@LNNJ>T: MCC_)!WWORKXE+\$Q&M]MB5`=3&2E.T32!'<-QZ7C/F/3#P@?[3'A:V""9+4[ M3'*HW@+&)WOIRO,";)P'+A&G\&/TL1[]9?2LBP_LSDVR3G.^A6J^N033C2GJ M0144L2K64@6"P`](%206^(7!Z\#&[`V[^@M>OP%Z#5A]?2DE0/KO^_/')78? M*05)K/@O?VBG@KP7G,K8:(R>UT@QU4>PSLZ2:R*)N%.):P!E=SQU#F>.3NL6 M4Z4G3!LRUCFPZZ?O"5:U#JQZ]SFSZKXN_`^+16_#F:K/-([)9TC$]!/[9X'KD@_7AY$OI1&IDLI+*":R;-'=""P"42@'4921(LKM M"+RRW\A/'7=%/E(?,;&<()D$^`G`DFLT6[\($*E\?4%5-+'>^C]T]]^8QMKW M>$Y\:M_$7F,!DLL%B$.JK"3T3LF:.Y%7A)9229[4DKQ;%R]UT[CX`.V)R7Z] M\5^Q._,\[#='42TE4R*Z@M=B*FLLW0FU1:!JI=0*BJ`E1;`%M>U0%,IM@LCS MHB@DXNA=2"B`1BC7^9)(OL`)-4FX=1UBS/W5K47<:H(;&(,E&.(_7<>K;RJ% M4Z6--26R!O3(I_Y4_?67[L,+.O,\?P?V']U MC";Z7RC7_[+`:QJ/$E)6O787U!;!6FXM9"2(FI@4R!;4QKOYIV//F^[9*OLA M()3TDG)7:TE2$6;E-D,51*0VI:@]/N660985290D):M1=J&D")9RK2^+DL81 M7ZPI);61$,NUN\)IBJII4G;]NJL6<"V6*W19TS0D*EOX%_G"))("YZ*I91,K M5+C":WQ2A>F_F1:K5Q2L5Q#(PDILB"FZ,I? M<0?2BB`K5\<"IW`DH&E!6EP4VP6X+/.%)HO:F#.I M7(GSJD#"12VC32L6[X;@`CREBB2.K"IJ,MYO0_"U8[\\8'=QCI_\-IA6&`>R M+S0M63_,7Z\M547`E5L'`4FBPDM24ZIR]W0;T,J-!%>A13HDL`B_"E,A:++( MMZ9R1_`J#(6@2JHL*KE:9F>:BO`J-PZ"*"FBK.5KOEHTU4>GW!X0'2?Q@H)R M*6FT?A$2Y29`1)S*J8I<:_TS9[$P?5I4@8PTH<"T7[`];X*'O*7S/SSS=]NT M_OG%)][-E\FWG58M0$'>4MQ5J]ZZ^!D3*3!H-\%?NA74K\+(Y3J82V7#LJOL M2,CC/=G[V)NEO_8#0]$_\.")][[N4W-T9NF>=_-,/S#[,+TT#^4:6Y'X[KDH M>GGEVEE4U#T@&M/2&:+E.KP9#[`I'+N-;)9K:T46$_F?["K-J2AZI>7Z6>%5 M5)^*F6&8X%3IUJUN&E?VF;XT?=VJ#TE%5D60%4Y2$N^G8,'6=!6!5*&Z-0T) MDB`UIVL^#Q:!160V3+Y#S=?%K]CV:!OEW%G@:\?S?F+_YOE!_ZB-HU+NSI]( M$B^IZ11`$SHZ9Z,`=J7^:#1(>Z*:-C0O=M8EA\Q*/.\?/YMRL[XDIY7;G MA.>(S*0T=_7B79!;!'2YB0%R94CU[T(NU1JOCF5@UX.J@+^JCV:%V>%E7I:3 MH?SV6FVH*0*KHM*K:HB3D[%G-34)3X\X5KL@56%3MI*Q52OO3FD1BN5V9SN! MVY32W,BKU%^[U$V7FK4K>QGXWC5^PQ9*>A>;#WQ?;?[S7R9V=7?^NJ(?WW(U ME'*+5A7/[HFRLTA#]74JH3D?C@3=N1,K=V^5(LIZ/+PPH!I0\&YZFH_1Z@ M!H7A/Z(&GN8,5)3X24PC9KMRZA"2>@6QFORA^]"XM?I!R(0VRO_!NEN'YL?S M*`0GL?C"#!:W@9_<.'G'SNY,CP;]CWF_O+%Q_O>_KWX"B9A^\X=IFXM@D?SD M';3@;N]"A1@\#LDGX/'58/DPT-$_:J*CKM&1>T&'SE^\,2W:]'S_KB]W`N?A MW>E4=#0*CM27Z/0"3EW)T;@(',0?`CBO+NY4[6B(PB.<0"?'\J1H;[%@MCX1G]KR M(Q^2[KDW/SH5GM!=Y@]#]=0$I[;DJ`QIGMW!P6_8[E1V-(84S^?!4U=Z$,>U M4SR)LQMO4+YYPY:SQ,8=]K#[AKV_'(L07)K>ZB,(S?">3&T^/5E;V1@N5=4O M8;0[5'J(KS*@\*6@2.KP0:D7.&1@$4IA$88O*_5&FIY<5D0)'+0>'%P8-2SSQG8%'*81'4MK#$JT?C'"X=%\8^5`ZE M8,$V9X>)9)#AO_RA2J=<;G$UA]ONH.G?0&>'A.0@HYXFN_&'B4P;*XVX2FPT MZ10-'9LVIAJA:K$13I6>-U1/]AKQU7(C#U_;M##:2*A$AE[G.'1DVEAN)%9+ M#5QALS,VF]:+Y,34)H,.4'8@WU:S9F'[5=':W5++@,>1G;27C?`T6>T3H-[] MCNS4O*UQ*+R:>UYWF/BT\CZJ#@^+.8@:@/CZ1B%-\)SR->SCU-.TR$VG@F5:,`=\7GR8\)_*Y[IG>_=+%N MW-A_Z:X)`T'N=!^C6@622VP03\BZ#&S#@V^E64TN1"&Z-FU"WAGQ%,R4AP`G MSOWHQ/G#:IF'2=*370;IF9KBES\XXM]+*?UB4"=Z7`!2^D!/J$1+AE6RYUPQ$7_)$_1U2>Z6X81_X@D8!@1AEW/KRL( M9,/X3F#=ZJYO8]<+/VU@\QJ_Z-:%[><"4S%R5-H[+M'0ICJ"(#XB.1($$H>U ME(2R`:O5?$AW58]QB%^[;U5\:W*R1FGB; M152('+PZ@&9)*!]/=&Z^F081`/AF$=F8;OB..,UZ` M9TD>M,1^H%LM9AH]TGR2OA;*!?U.$]%,C>[-`HD`R-1D[VHPMB02Q'1&/@6_ MMLH/JJ9"BPR=Y6E"$G.FY3)OU5U(*[DGIV(",.*%YJ3=+$E4!>$H_;1W&4!B M,%)/T94OWGG0>%@QJA@,+*9W=S,J6O)P93^\.]"+7']L':J<(RRVX2.FI#TK M4&AJRDQY,1>)2DMF-K2T9@>BD:;<5-A_46K'S8:4]LP0K=N4F?(BJ=9JNR0H M:P_)JIM)*R&)"MG6K3W[JK7V"Q)U4LP6,&B\MN3S@#]V[ MTTW+=72#3IST/-.QZ\7]%6.6L]YG!9VY0Z.*[KH,?W[IN,38OYGS[/`:XEQS MTMJ8"(](B0I,CNT%%EDUY5,^F#Y6((L)12HD99_SUQ<+DA)(B0!$D;:<6F0V8VL$/'[PGI"L]!%=[*)UB!&7HO/`)>9,) M!AXQY"&U/XGBOFJB..L4)=`K2J#;'KI[0H]3?S1%V"/_H5"%,;_ET4M((R.8&OH3'X][B%@P&DUAZ3)&?IA&2/U.-=,IM."AR2((GA#P M_M#?A5'8)W?B)*$LT\NNV"X.T46(`A\OX,(D!E&)T6;-T1O*4M*V2:^Y;NMN M0B,O(0+^08P;?OUW53W43$0\3]XFKWS:VDAM9:SDD8/;"1[RX-//J5\BEJJ, MN\6,NY4;\G)*O[I_UZ*D:JDR=\T3H*N.Q>Y=[R;H5FJ[PH_T$E\]6N[%+SX. M2RI8W"7^V/?BIQL//%N="B0(>2W=55EB%3G0'8HZ)(H=!$%$2RME-(Q-1#?% MHCNZ7N*;;B;Y"@4]U4!NNLD>R+6@O/-PRA+>:OHANP52!U%R$.FYAV=L?Z^[/1AB*B2*D4MG#Y6=P,JHF=6W-GS@NXI9.SCVRV#-YEK/,QR.Q`Z&J3ILRF(] MY%V$JQT$5XS0L&VWE-NP&T1F3^U9!L&6V!:3&00&]\YBU@V'+;'E)34<'+`, M8T>3T%(!7$VME/2P$B!:P5VKZ&KBX[/@WB8F5/!*;(-HZV?8.'WO!+-6K1); M%BW#%+OS"D2)$`E$.ZIJ<`!N=G?2X&KU)Q$3@7^'+.9W!R?IB"L(94*:4'UR M[FD71RH1U\2*Y,`LL9O,8]*R!]M\Y'-`*U\/X&Q0%*?^G_3[6A)T>Z"C?.Z2L@@8#NVS68"MP;.EE`<_YB'9KF&R3(2M8Z-IS@!":BI M*Y:J;(F-)@!Z`?D5L='Q@KXQ:VYV_),8##9.M[LCY.F0?[S"T6R-9:_H!*:, M&4H3^'2*D*=(`1N/HR@LL_06,)=FV]@,77X8J_=^NR'B:,L5A!?54H&+NS5( M$B;F"HBB:SW=;HAX2N('!MU1%6MC7*A!=.J3N)PNSQ6=1$E:?2\G8TR"B$"T M9+J,GC;UN@,RGK[X\"KCNW_R4"@E0\'8MXVEQ35^UG1RXV6TWAQPW#,0S;>3'@ M]2K7%'YX<5Q7M7?4.`G;$TS/1'K!.5X[X""V:$WA!QS'<4W-9;<F+9CL8Y]1T`R]B=:?!A*I1QN&X!X&A*<$]M]U-=-D8[,DDI8EX&F:'P8T15&U%\,O8[C\B-%754O1V??# M+R0";PA$P45757;^U%2"83K%\5441F5WV]BE"DI+6993"HG#O"KJ&W0]JFF?)#6U_55<=5&:2= M@>1I4E#*WG44QS`[Q"ACF()@IVH.65D]!TB>(@6;7V3]8+-;)_(8<;K+RH97 M5"A[VVJ7;)#MK0D4GHKX\<9Q#(/=8VX,1<*D#'X(Z5NJZRI:BU@X:A'5UK$= MVV+?$'*QU"1=G4"J]]:V(RBM8Q+3,=C:U_5][PZ3IT#!FH:L(53=[!BGC-$) MUCJN:[A=JU/&'ODAP815M-,(9LER!P^>'T!RV6W$'`3-JPQ`#=A1`X,51`K# M5`Q-KWF4Q("ZD8P@M(L M4[/:&Y\S+P[)="$I4A]._6"15L^[RSPG9I79K2XMO*\!NKTZ/V&H)8S'.1O7U0)RQX:3 MM;/]#9V[3&D2@T0G@SVTM!6F+@3BC89$]HYMP.%#=P\$DGD,)')]#%,W3/;D MQHL+Q!LAF?P@R]!LHRV3@UPB+QPM*Y[`B_\X]L(T82II#>.3P/-G#5:#U:(D MU8!E:8K&;K=O@Z8+47ACPX^]AJ7H["NHG409)`DF':5^3!-@AW>!?T]/A@U& MHYB>&&N\2R2H/N(8)GO,3AJ(M`0P3__H^>/;Z`:G:=!$`O[Z5;=L4T:"*I"V M)>"8DL5?Y[J*J1DM2/!+&&,O@"S+33OI#9YFB[_P[5MVR3$)^F\'+D_-@O6O MJI#(X#;&N_I15C*JE&=6DP8GI67!%JEM.QM?DO!0M(J=IW+1UBE[9+$9]&I- M]`OP15"[,[G&(TP&ZZZ14Q%LI^JV[C![A3(@6@3.T[A@B0MAB:T)V@[RBQ#J MYT3Q>NU$&5T+5K&6Z[([U]S>VX#*T:[-CY9D(<8N`W=$6@S$1^^IF1';`G)% M55&MTAQ%!*$MS#P-"\ZKD%CH1X@<>7OG<'5?(;F7"UOD3UE;"IJ+8F M0%T!T2)PGKI%+PD5US+9DV=-H%_AE,Y-X@BV:L?OGGY)\/@B7!Y_&A`L#TTU M+S@6[RBZSOH[>2RM2\$;!L$Q24.U%<5H0XJB?/=M-!B1D!IC^GY:,FM?:D!$ MI_!UASUSL"6>;L3AC0P_GFJZH[)SW-;%*?(JBR8:#(A@H>I:FJ/J/!&J&%I# MS=&[H/R%J5ID8FSM@KKF&8(0G>SJE00E+/JZ:VLZ>[!0'DSK8O`&@1^,^X:A M:HXE]JX28ESC>3Z"PTE!*P2\/0UTSX_%S.2AKL\=L?$4*EB"&@J9`#GV;A"O MHA0WGS0**EM8E5I.=1WO")"G0^G"%K+8B+F.,!XGYW$T6^W3[6B%_#!HK!4+9;2/S_J"640(>I4+LX(">II MJ#H9(UM76Q=O^2"=^R%IHG$-!TU0?D.#&ET;YH?5CG<$R-.P@-#+M=Q2.<:M M`=:<6&G#Z@5E.^B)J0U3O2TP=2<6;TC$61JE$U8MR%4SDUF.\2ZS0T&Q$,W2 MU'+E(VDLK4O!&Q01U:?AZ(;;AA1P&QDQ^!^LG!Z\``8W(TX0,'W*C(8@4IMD MIL[,R+8!TX$@O`$1;/W:AFVR22V[2L*IZ*=5D/&#L6W9!GOL:M/9/4&'Y3'5 M!=5#5%UQ5/:LKWR/-5:D"\I^J)KJEC+)&O1H5'H4G8Y5+$>@U")_#-X:;OW@ MZ(*:'>#$S`VY<]!9`R#UAJ\+:G68BF[:DD`8>A:U@48$FY&5XPUL9PV`\#3" M]\W5PPD\(,/XW@OS0C0G49A$@3_V\B(U)(8FP&F04H:IW)-[P;)2=W+J)Z,@ M2A8QOB7XWP5-HK^NV`<_?!6DQV/_`27I4X"_/_@PN'Y_<76$E'E*_OU\C,Z' M5[='2(6_;_T9"6=7^!%=1S,O[&5?]!`4&)^@@Z_NTV-4:>[D\FQP?707I=.L MI?[YX,/%Y:]'E::.Z;6;B_^>95T=WY[]Y[9_<75Z!ITKAZ8?'J/&T%;(OB/0 MNH,)F)J#1%[@WX??'_RV2%)_\D1!`\P[^`"+;*2BK[S9_/AOJJD<(SAD1$G? M6%.A,MX5=W8K;3N#D@ED*=T#UMU#RR1?[@KY=HJ)!_`68S\_J3F&8SGT4_X( MDS\FQ1-+1"@>699G\!HGT2(>0=-D0G"(OLD4X6B:D/E%3B_(_.);-/4>,+K#.$3S&,^]F!(>(F\TBN(Q+'31HY]. MT2\A50)U2PFZS^J$!$_P.SRG=(S9.T,H.3V/?:*1>4!^.(EBH$\D.ITQFO)# M\OTL*PX&"&D/0'_HTU34449SF$;HG/R,#%?_9_HSLMH(\"@ECT^`O#$\/9FV M*+RT,3S8Y!Z^50=,E:Z M_#0@W26+T;349T[QZ*$0)`F`/7(1`Q<9"J$T*-[8$A@4Z6T19":2)X^!K(`G M4T"FJSF=06:@HW0)W"<:]\.Q/Z+'9Z"-E&F2*.P.(_QYGA%DYC(N"/PG[,4; M$9W@./5@N"E5:U+HD(P@N1GN8JUZ92DL5R9T2YX(&%'X"+>/8WG49PNC>RGY2A,2,CU,JTALO`E-Y(Y/*710+I*24GUPU?C MQ39I_-6`'RYB"7>;CR\=N]P/90\8N?MQ&A$_U8\>0W)W4E`2^M!/X:)_\L+$ MR_US;Z6D=X%'IEHW=(<=?GK_U$.7ER<]]"F*?X MLN;UF1^5''%A?2FPCJ,9F>)-H=$5H-`/B^\S_Y#DUGD#+C@SSYPS-W\0L@:Y M=HR&(7._9F=?]]`CJ)*^!2R)=8@&-#(0^0,B7!02CU1^&N=1XL.3VJMQ=919 M%U9IDR!ZI!=9K168_UAX,;!SU\`F\&)<>JX9]MQ"JZI]G$A8CYR:(`I0[SS* M*7K3&,QFM!)J:7DK/XD#?T:Z3''AQE93_W4'4OP!GU-J=7=$T3B&Y4;Q<#[Z MXW1ZI"K*/XX1_4T_\)ZB17HT\3_C\?$!&N$@2.8>;`;1^^#ON3<>YW\OVX^7 MG\;+223[,5Y]A&[@+R8?O^7US'HN9/$3X-R=P6EH+ZNP31D*Z-XP/8M/IL9X MO'QMOU[VO$VCIZUR*%5)F20RMM=URJ>$!";"S&SB_<_@IZU^6?F^KBXSDB.@-`3QX5QW?YZ M2;!E:ZJR-E%*U1D2=<94G55S/$9$CMN+D\%ET309DC2:Y3_\E&,R8%^;AM'O M#RQ6K47TK1_S/$#NJ3!J"[+D5O)N>'L[_'"$_I:=L$#J_#.B03ZWT7V0EH@+ M-DRL-(1TUZKH;.AZ&\/7.89%%B;=&XV_HY?SC$SV*TIR_L4,=#XUW\'C!C38 M;"_UN\')3^^OA[]-7N;9I(_!2VP6_^/@]/3BZGW_.D-A%E/`KHR\L4HV/`,:L7=5?[/V M/?%?+5K[W]^,O%"%>ZA;>V\"'5KXGD3S"?VGJVC^'FHT9-.XEQAG:>%>IR?; M7_&Z\UGMV>O&R-O3+?MM./?JAR:RMX/YU\_AG:[(CZ!HSA!\')1 M=!]F2U^D>!R_]"+6NVZ M\^PSCD=^\K;R_.+$>ZUS^?[;4.ZYGWFSU#=+W9?H^7SO8-QNJZ]F;U>V_U32*X[`O9O3/VD^'E\'H)I"OC=P^_ M[&,(;+A?I4,4#>UX#'AUBGI3+DCI#ZKJO4X,V3%Q0[I>?#LY\>Z^)GVTD/]> MR>DP4!]1;:*5.M%*GW0\N\WPV/^C^.WF#D#FHD,)AM[`;KW$O0(3_@AS5HOTGEC M/(KN0RB_3U.)[^"I0U&(PL4,Q]$B05!27`>S_\D" M,II9.4;P(,-/)D&6Q1TOVQC%>.RG>:XTZ2WVD]_[$\AH]/-TR>S'&=`L(00Z M2::0#4BSAZ=>>(]I+C)/@9TDD>R_E7[Q"2-[-IVTM?5YQ8!CMKVW`\W[)EZ7 M2X:_Q.*W9SEVSU'4O1_)O_Z>7WN[NIL<%\N#0.(_E/$8H_&"UC6A=4%HV8$O M>>MW'\1[>TDAZ;A,I:>8+[95O0_FNB=>J]OI%NNU$DK;MD=.:Q]BUSZ(MT]. M:V]F5M^X2L_4C"_ZX-R>N*AN)U9+;L\O.1@US5'?L_%]?@6\UOF7ZJH]W7"^ M9)O?$^_VDOM=;X='7O%K]!=(>]Z[M^S=*VOCIINC.SW+=K_DAX7SYOV5OB'? MYI5V\3H%3/(\QO!_,"BZ2/P,ZM=R^UKXJHG@P;-.V_OF=)(!V M\'+>V*L"WB/#-775;H:WRM;Q$8IA^^.SSW"(`2?DOIM%.(Z?R-U0X'1[RAI= M%9`B.;9A%^"W1=.%*+R!$-!6*)8%A+>[BY(?$1E.;NB^3LY(5/L0-1D5`2^2 MXZI*+LFV8+J0A#6$*DIG;ZULC1^3^Y9I62Z/:IB#I@-).&.@\:/U!OZ_ M)C)L9N`:I"=>'#^1J=N_O6"!Y1FAM.T9H82]MP2YCJA+XP=C52$.QK1VQ/S! MIXP?N0OR2=P>C1:S!3W663.CXZI9$'4UQ]`FD:O05MZ\K9/R*O?B< M?-,@C&ANUGNYWTJS]3UG`!OVK1.3^EG?U#/3+-OW69CZZ=,UOO<3X"9(K[Q9 M`X7KZL$/-=Q%&99-W:S#."%HB>E?A&/\^2>\/7F]KFLD1-!_'%,QV*XK3;-] MGV3$,ZL!:FQWNDYB;5_5^D`XR&MZ7?1S/\#Q";ET'\5-!#<.?K@A3H4TDC/4 MP(OLG-J"U4.I'Q;&;>S!IL7-T^PN"AH`,(D%7%W_*^NKU-B&<8YFLRBD=`'T M8'_"I@VN>U;U?ZJQJ4MVRI_0=ECG>G%U#@R7AJZJ94O@=%Y:?%W"PG,:!>/D M)'K`<#*`/$-0_]>[K]B&JJP41#[G:/]WL[A+\!\+<8G7_FC\NHJ$S;!6)3[W_)C.3E:;9;NP?NA_P00028X/ MG248!+6B;-+Y@8S"(ML">'VT'QME?VUY(Y\P@NMA2G;'4WG MB'&^-,N(WV;9V(V1EV;,=@]T2(%CCZ&GNZ-LDAL8_N"HU)*E!W),EMP]E/(I MY_:[`??JQ6-T%3%<;JII]ZA.?9#AH,:@#N@0T)^@;PX&-R?H-IK[(^1H2E]5 M#KYE&JQ>A$05[R[PDRFDF;#B37WB0.+1%&BHB."4N/! MS[-DE12/IJ%/?%B"%DFFOEQW3,-9?LJJ]7O_(6]RZM]/(8TE[^H)[E^$RX27 M/Q81_&\.5>ES15.ROID7_XYSNBG@4T_]T6I0R7=L!M`WE_@!!T@M<%'U?4OS M:VBR4/2X#B`B?CE^H"\_5PF63 MLIY01!9N,4N/"`279/ARF`6%V+*9Y9V9&664;@$,1U*P-FZTX069U,9H;5S@ M:1_CY/_M75UOVC`4_2N,IST`28!*'>HJ3=VF/:RMM$KK]C0%8E9K&4%V^-A^ M_>[U!SA-!B,C8(A?2@''B>USKZ^-SSTC1H<$NQX`X#1T*GI@97J&F7S6GH.O M&73[L'*!2K`#(H+9QI,R-8TYP">JJW)3-/,1A>5B2E#\<\8`$T.H83IER5+1 M^$S+3?-'+[#;]R7])(]Q:.VGZ@4Q:XW'[DYX1/1Q^I/&(2O&7JO@@FUPI9,5 MNB5RE3BM1'X+BR>HN+J:A>FW-]EKC]PUR@;Y!K!E+&/5&\X_#^A MP+K.<-9_*@TL?0Z=(F#Q"Z0*)-Z\^2ZQ$%B%TB4R9MT1C/# MV3$+B\*`&S:+B,AVIW>^RDAZGPT?RH;FN6Q9EF;&=P"U!J`EFG685,XONWV_ M%?2"6F<5%;`6I):%?M#L_M^C>KA]5O5L<:=1M2A1PW,T2E2YJ3 M2_W@Q),GM+9WCH%OLO5E>%Z:"G(3AYS?CT6! M/-.K[V\@M@7-:[\3F+D6MC]]GK?W(8DCS88KH,971&'K;\Y>T!.^RV3MY1Y3 MM.3J1;O]/DG2.V1=P3I',`^@SG9;-S2FDQ^#,1290)&/\*:Q%!^Q!#'ZE*;3 M@>UW?[WGXM8<%FZI\"LUXW81N@2XE4?-:5.[E:H?/KSRL MB@[PKWB*/U!+`P04````"`!2@6Y%,0.KZ;4(``!?>P``%0`<`&5N`L``00E#@``!#D!``#M76UO MVS80_CY@_T%S/SNVDZYM@F2%XS2!@;PA3M8!PU#0TB5F(Y,>23EQA_WWD;+E M6)9$4DDV4UH_U55XYWOXD,<[\BCO?WP4'#0Z6^V&!\2G`29W!XV; MZ^/FAX;W\9-&0?>-X^HR%\(U=@K0@I'[J6T/EC"A+ M]]+B2V./(31IJ=YK02AX\B3NSV:[L_`^;Q:/O\0=PA/-(1I" M&'_?E_4&2?=LPKQS2OR(,4F8T=#5IBLFKW#:96GK$?,3K?)CAM"T1U^T:/%H M/(ZU-;$<\HG\+:/C_-Y;?"$UF1QQ^>UTHC2CL.%1%@"3J[5@:8FPFL]Y?41B! MAAE+>6<8Z^FGD"4P*Y`9*O9EU)R/1<.E6;0J-)J1.#PEN[Y/(VGD%?@@ M#1Z&()=:"Q^I%:L*(Z695825M=3X+;UU@X0RQ>Q!J MV`Q`!D!88+`(+[125>%("R*?LI]=H.R2P03AX-/C1.W[2%^]$L::J;.2K@J% M5F#RJ7R7I5*B;:WMTOTO-^].,1KB,)X/LDL'@OKW(QK*7N,J(A`SS>@RBVYF MSJS896>]$W/`EHCU:9'"X7#HO6*GV7'E-7:+(PLZ#$[)"5:2B/(2S=3B:!]( MKPNXQ8YE'+T.PFVB6`1!J5FDD:D:744X',Y4G\[%2Y&F%ZL4;WHH#J>K*^9: M[8X7M'>++(L5R[PQ[L3,*CR!+W'*:Q1WBSSS^88=*H=7N%-*[JZ!C8]@*.QF M78%`U9@KPN'P#,SU[%:D&26KQIX1D,/K7*ETWY#@.T!6J;PYKZ7UC'-D]ZB@ M[F\#VTCG(/I$&@NG^D*>M78;*GZ8=Q6YLS(YM[4#`S^WRS-5#WG&.QP$+,MJ MKF`*1'NXGFWJ`"F:H5580;2TOPJ\#%`(9!H8(15DA/&H'#')TC$3$4 MSFO2@LA7-IJ9TDI5B"\M#H=#:54SJ"*7Q;F6;B7*-G6!'WN/E[7?S$MS)4(M`+DL"N4COL6.(\M.P:M*\PVK1!16>-=WB-`(6+SY/HSNM.2 MDFU:(5*RQCM(MJ`5(#4=&R0I19L3B<&'7.24T'3F9 MN=/(.,":U7Z$!H+#"U.?"&#`A9FB3$L7B#$-M6Q!ZQH((KE MW`FX=->WP!C,#SO5Y2WMMI1&JCXT:F':[S(ZZ!"?WH*R&7^HOO^24=6]P>'L M1EK:)\>8(.++A:?KRVC"5&E?1LFFKH5.T&S1WZO5.!I0Q2)N3*J2M&7OB!;! M4R+U(['-#R7CUXNES8OH9J.7XI%:L%C,3QSL+]!'AGU M`0)^+'NDSWFDKKI9>U@;X7IP:P'4X;WH?//3<5B7!/,'H"X[JB>EB3*O[R7<51.GE1L=SM-5C:#P'N?E"]/?$GNDZOD^P[0J\PH M#4&;V/S)OHE4/?G2#;Y&7*AQOEJV(6?PLG(CAPMKR4JS8XW2X?.*IZ4[\K5CR@;`IEAZP@O6"Q$>ZV9=23V5YOV9F!VNG2F\DZ=N-,>#V'R`54)' M+=@O@=?AI*@01=P["`?7=`!":+>F2NBH-_-9O.9L9W.;'C>$`0KQ-PCR3MYU MSMXH60N:C2CM4Y9-5INH:R$J,5]YF_/R5J:>2E/Y3,Q%VR*.3MFUEWL]RS=7X!#X M51RSX32XXT3A4Z[Y:R\$*\MR1KR^1&>@%G!=C== M+DZ.+F[G^?.B*XO?&%6T7I;7X^ZTTI"66B_+8W:Y0BHY0[RF75_F7PSB6O+" MWR2R.(>UUE3IH?!LU%4HLWH"L_ZC1J7XSPK7E/(LT*H48/);)8DI>E3,'X,XXVPC5E/`NT`O562X=U&'%,0!JN+OO-0^C%7X(R M#EZKIA[$EX+\TM*J_>7//\=]]P]02P,$%`````@`4H%N1>2>+XZP*```+H<" M`!4`'`!E;G)J+3(P,30P.3,P7V1E9BYX;6Q55`D``\QO9E3,;V94=7@+``$$ M)0X```0Y`0``[5U;<^.X[W'%8[EL[YZ<2J58 ML`A;W*5(+4AZ[)/*?T^#NE$BKA0HM';.TWAL`.ROO\:MT6C\^)?W<;SW1ED6 MI?Z_SN?/Y=(__T-V_2]_VNX>=H[W_/NS^T#WYX?#D?_;^ M]_[K_^U]>7S:V]_[]NW;YQ!:R,L6/@_3\=[^/O].'"6_/Y.,[H%@2?;3IU&> M3WXX..#EWY]9_#EEKP?=P\/>P;S@IVG)']ZS:*7TM]Z\;.?@O[[>/@Y'=$SV MHR3+23)>^0?^K?'_-T^/M@PO%DC\5X3-C'X*7ZRRN: MDRC^M,<_\,`+'A@W>P``-H1PF28A33(:P@]9 M&D4YIFM]"8M.A#\FD3L5Q(7]"LE6<'HF"9Y]BMA$7F.Z5-Z M';W3\)Y%0WJ9CL?0'?./QV]D`JICT1M8X!N]`4-F15FM&4UM2.!`,?TLH_D# MS:.I1(/G.'HMN]SEB"2O-+M)I"4:*L+%%QT`ERAV_DLP1SY6-F7;MG4'@&[3 MY#6G;'Q%G_-^"`8$"B/Q3?*2LG&IO69(C)MU,KR,QU%>ZHIK""9%F!PCFCF$ MT^@3#J!]^:.`+@T3>)(![]R6'8*R;-P!G,?B.:-_%*#&+V]8> M2:5E%_--.BQG@7X2?H%Q)_^H6+/U[*)L:R$L8<.YO+,?JY]8K'&C)#\(H_'! MK,P!B>-/6H"2U?9\L8,+PRY1%MG^*R&3`SY2'M`XS^:_*UQ6B;ZEY=5#O0]U)\L=Z/O$V338?_V=)G4.3\1(,? MV#RD<7R=,O['-A85R@\&QYTV+4.T)=CV5-J>WL0F>?PG,,F[HLI8N]8X_59P MW-UA0]3;2NO&65&CV"Y/=M4N?X:">7:3W%,6I6T.D:L?"HY[_[1(%SH4F^/I MKIHCZ/"%1GG!Z#9L4O"UX/CHGX;I3)%BZSSS9IW[.K`M#TBOHHS[?'A?Z3]G981! MBT.<\KO!<9L>OC_#!D6O/HG_SY^+V5W__AN-7D1JMCB85WT%JXU.LK7$:W9>7NI`B.6W7H[KBE.]:S MQ-HW=/5[M';!VMR7R5N*$IP<_M/NMZILB?%O>`#CT?CG$+V;OI4@P*.ZR5C@X];X`DSK).@ MCQ4\V;58P1-\L8(G^MBUDUV+%3Q!'"MHI&^\L8+S;GH9DRR;78&0##C:.L%I MFQXGM\./&1AD8715&:6]1UXX.&W5,:(=KLQT+N9)@@99/-GF!.$8Z)PSI1L` M_85<4<:OQM]#DY0Q?CL6Q/Y*=3&F\EK!*8)H44EOD0R!&C#(PI#*U!DFGHG5 M@L$I!H>!S3Y&(#^RL)ZIA)<%X[?[C1E9*Q^<(HCK$NA:18H(`K90%GZWOY^$ M_!_N$7HC,?<%]?-+PMA'E+R6F7I4TY-)_:!WCH8]$2F2*R)4\+"-N)^DW"\_6D[`/D5!!5+1:<(@@_LB6F!@#;&>]7PGZG.;>81SHL M&.B39OH.I*@5G"&(EK&E28<'V^DE;#$F)`J_O//C+`J#=7DRM8):P9Y![>`, M0>B'+8NFN-2'IZJ(9!PXI7@#$$< MB>5^3()"PI(WU\4]2R>4Y1_W,9EF-H-UZH2[`WYF::9:NJLK!F<(7!M*(F0# MGQ:5A$%O'H]!%(.@/Y-L+OMU$<>7:99_I?DH#=7+0GWEX`S-;MJ*24-DDK-= M;RZ2RD2[A*LB4%0^.#O93?-Y6#!4QX/&IV%%CA"'A!=O;HR*!1FL M-P2E@S,T3@N#I88,@(06;TX*_6!LPI9Q(\$9`@>'C)NFT]4*.`G!WIP?4YS: M43`X1^/2,%[(ES)+].W-;7$;D>@HC4&H;!IJ:]"=3)L(SA$X M,*Q.*:V029CUYL*H"&]^BBFO%)PC<&Y8$:+E5(10PJ(_Y\?L&.&>?'!?J/E! MRFJ%X!R!XT.C>O4YB@"/A"M_T1O#(2MH6(>IIDM<)SA'X/AHRI@"DH0T;UZ/ MY:LN5KRIJ@48X@8:4:=%)0FM]N;EL.),A`F!?Z,14Q(L$GZ\N31A1J:@:=0P3N%@=D&N&4T(K!16/6'R70 M$'A?VIHTI^@DQ&'PP)C1!3#^=$Z6*28)-=[<*I5W)'E<;?4I2055BEH`$Y>' MI2EU6HP2*OVF[K7U62M4TSG$Y7AI2J0.HH1';XZ8U3M:NAL<@M(`"X'?1:=V M,5E2.)([U?YNWO#GK1,CBM:+`B`$WI9F_(BQ2,CQ%TRR2'YS3Z+P)KDDDR@G ML8(C20V`AV`7WHPJ)20)8SYORQ3C(N9)?\IC?IX.B=$1O\/,WQX?IF-ZFV;9 M'9=`53"K*MRE0X"Y-V/R_%R2+ MLEN#C'U.OQ-T_,4XN0"B2Q3H[!O0;]K3=+65HIE<2]1RN50NRG)5"6ZZ#:#3>2]L! M3;3J]VPRM6N)LQ@+U+BQ9<;T9@)H)_]MV8)N)>`OK^9"ZIMD4N19";]CO@*H MUP*X"(+=&O16#=4RI-AR;(H$[C8BM+N`B2#HK55"5Y!BR[TI$KC7B-#>`B:" M6+A6"5U!BBV'I_"B@8)*87F`AN"BV]:.CA0ZP);L\Z9\4G'5G)?OS2EX5E<$ ML`C"[K9&N(DR<+W6)[W4=SGB+Q=F-XG\VE^3L`*:L-]*&SP\[QV6%LA_$X#J MTV0(C)0M#UX,OJX*"]BXS:#3Y-*;.W"R(_R-V@-0;3H^A,?UCIA8[6X.M/#= M',/WVG1E&/FZ'+!E<.3>DZ>Z07H0W&MUQ]GLR+U76["*Y=ZM(_=>#X/MZW\F(%4#PJC22]?;P,T MX-%=X*>+BW6@/)K?MI-`BZ;>ARC[71,)IZH&>-O<3KL>CLPA M(=LBUQ=(3_!);9R2JAK@;'4+;!R9IB=#1Z(,'+(P\Y9(Q#%@MLUF"Z'D$G?% M)2M".HCB\D8TOP@M#351%0>9$80GZ/N(P,^@1.0LSENB_:M9JJ=[V-M&Q?B^ MR-7JEY4':1%$"S32OQJ2LZAJ$_._3..8,(L.4*T`\B+(HK-Y%ZACPA;7_,#] M2IIEW*),T#EN\V)*6VNV-?FQA1&7XFF#$BNE`$:K"6V,UU]KBE5HORHXMJC? M1OK'M71J0H0VKMZ;)_(K*'%UU,%@>]A^*>L=&=OL MS)?%`5BK`28-W"IUO>N86H>#[=%[1SSAFO[=$:9=%+C/N.7L+(IZ^I?9$+"J!X*@\6`V)6,/C[B5Z&R*@1H,^4:D& MPJ-R9S4E8QV1NQ?G+>BX3@N-3TM="T1'Y=AJ2,8Z('>OS-MP`?]KP,6B5M`Y M09!F97,NU@"Y>UK>@HO'Z-V>BD4E$!Q!AN:-F5C#X^X)>!LBZ!M-&E"QK`;" M(W"D;$[&.B)W+\1KZ?C*U^!1_O$U3?)1/PG_3HD!&Z):(#J"!`*&47;&>+`] MZ7[/TC>>`_^-QNF$A@\TH^R-9K^F,9B28G>HK`=0$:0*L`R0-$"$[27W)<+^ M&V7DE5ZG[!MAT[3D1EM[03V`BFHK:42>`2)L3[LO15[<5!^\5,9^:O:ZIJPR M@$:U$;6D40U+_>+[MJ/S^7NN^>P]U^5303?)2\K&Y0T#GV'YS_ER87!K%)HO MK!%TSCWVE*I(^A#]6NF@<]KF=D<3IJ_0IZP72!#@"=??["WH>6?A,26:4QU1 M<5`&FOR14J[$U,KAM!+;[XXF[7&!N`)@PY')4:YX,Z*J<%JY'(""*EQG.^XX M0WN[@,\'@Y=+1F'5H(TWJ!<&;`B"#E1]1<*4!`FR"P0>]7GV"(RH*T"%P]C]1A,R__04E6X(E]4`D1$<]UN.XVHP[J+X)?K_$KV.3-!+Q*_NHW4WI=8+PPFA"A-CM6.6`8&7PQ^54[#.'QQ%0#H M-\&.3OA]UO)F'?F]^EHJ1KKVJ[+[2ZX M?DNJQK'JV4#GNN6-PTCZ!Y+D:1'?$Y8GE&7J05U8..B<>W3?B4U6,(XK9,<6 M(V^9*.A\5X/3UC!@BW9OD*SF'$?PV9IB%=JO"HXM8+V1_G&,_9L0H1W\O;W- MW3!9T#F"D+&:L8NI$$@N";[TMM%MF"SH'$%DF"D)=8PVZ0SW&7 M,PS=P(IX14=[O]=>F<4*D&=M3#$$S5G$`#=!+: MD!S+EX]9/TX8)>$@^96PB!LC]V9W%..J:1.@1@3T;GSG40=0PK`WU\1MY3[+ M/*IDMFR^2!E+OT7)ZR69P%_R#P7+-LT$W4,$47H-F+8'*6';FR-$A.!R^E3H MIFS+F@%%(`@2=,2V&J2$;6]>EE70-TE.&P?40)3JA:KZKV"X@`,@6^M22^5@I&PY,W3([>RWR]JQ,\JQ5)D._4T;K?C]Q$CJ1;KRJ[+O5-/XX+$.`X?-E!Y"\EK9#=U MZ3O)'F#:92D)RXZ:<52:*[NJ2B"_Q]VLV(`%DX8!!F>I:;1S_-JP*!GC]95` M;N_7N1P,^:9`G66GL24HDPY'1O5`>K_WN$P5;$/+"K;6WYYMD1D,"&GNO3M9K4!D4\^2FU<%71V@Q?\6,,Z>FPO!)O#X(]4N3.)16M!M^LQSL&;4:SAQ_9.L3$0GIG) MF54L&@.E>`R'\&44:_"Q/9MLCB-Z8/&NBU0B<=P##\6L8X>6XJJ6YJ#;-D\R&10Y%D.6US`U1^GA7)KH:L* M@#W&:CC?.YJ`5:>WVO;Y_I<_BBC_>&(DR= MMI!&]_S-:D$PDS;]*TFL9QB+*!RM&^'_,4Y3$=O-S`RN`M"@L2:RX]"\L'W9[W MV"#S\<<`"K)G9&J2_BW*1P\T+E=#V2B:/*6:3M6P)="&WT`C`ZX,R34!BNQ] M&J^TXQARM\F_;HQV&6^09/`AHLM_O5X.I$1PM:=1UQ(&%HC0(7O?QFUBD&[/ M>T"5_3RI@8,LBF#3;!/=GM]@*D.MBZF2X<$6+>"`)%SSDT.VM*FPW67_G:5& M2),WRO*(I[2PSQJAK@R`$"3*EG4+P:1D@0K;2?MC\9Q%8438QR/A$[315"6K M`Q#;O-O6UE2EAH/M$+PB)$]H4@]H`&X&KK`&Q)K#J1#*)I'S3NSMF%0%H)L M.@X[MR%B;$\Y*3'=T6_EGQJ;P:(!`(\@U8Y#NM>0N7L,ROE&YY[!5`.BEW*; M;6]6J@!`!&XB2^J46-IY3F!(F#M/%&U`:?< MW$K;4Q&W*`0@$*1>MF1G37KUTU7;CE?EG@_Z1P%@OKR5(;O(HE57Q;LUB5F5 M5`FZ9_X<:JLR:>-7!<6#[G&;`4KJ*%:E2N5^;#&&[R:B]1C-(UAR,E;)D\+8 MK;C68[]/7DFU6%=V7>[=BFL]1O*XU08JWUYJ*0?O&G://;H#Q`8K.(%6R-YV M"JF+F`Q_?R!ONC0JZ^5`.H\[;V/-BL5&%O1Y!=N/M_*ABHN/.\+OZ&F.\,45 M`!N:-ZA,)U`31,Y",UVSM7QYVHBKRD/5W6,<@`#[:`S?4A'+YG$%DF MJ`'P\%Q5M)R7E)"P)6(2"*N//I+5`8A^;SL:46#,6A44QBA.I[SAFK1<$ZB- M$//GG5\56QN-)"P?=$\0/-*EZ4)&M%7Q8`O97+SJK:!G^?)W]V3G7),2$-B" M*NT?B.^>^/562A2KT'Y5<&Q!E(WTCVM^:4*$=@[QYEY8>;Y>0FS[KX6):9I3%]3!(CAU`;GP/%MAKS9#QW">B6K.A:TP*Z MB,4_AWGAFIJ]VYENGF\22BF_6Q.D'G=ZL,+PN)JT#$#%< M[]L2V8;J4$=J>D@YL?*"N&8I7R\,H-KT@+>ZGI>AD5#DS?VS*J<^+XB@>-`] M;=5?:KRHENG>DN@1A_S2GL`[YPK#I:D)8% M<1%<>Y5;O6!Y(8<4V3 MVS8`W83:\Q=<8[%M%.R/3A'<4[;LBA)/G1B;A"YO,36.DER?[FQ$M0*0A"MO MGAF/28]/<<1A*\@R9-<$J(1W/(GHM\D[KGEV&P:@G5O=W2J:.PHU1R!KQ4!( M!![T1EU+L'L5@I-HWIMOI_]&&7FE/+%%5MZYY_Y@EH9%F7+L,LWR[)ZR7X"$ MP1N=2`Q(F\A2ZMR:@=K47$`AB/:W"U38FN0*T#" MK#>_EB-F<'%SE=3(2_TPX^*=16F0D"2^+YVAX3:D^E-VD>M`] M0Q#9+N]]8BK-D4GNP_M__\_-0Q9G.QL#KP$EXT!SV;PU> MN+!M#D`CB+^7=1W!YG0CG!)2O?F1KOA&G29AMBJRHC]*:@`\##DI&V0/4P*2 M\.4MZ&=5QKGH#S#\@/$-`3*LSI6[#'UU`(XAB+8!D^;H)+0V\"5)QM;RU7B> MG#J[3&'/-$V4*>='6R*!N7::5S1H:J[.O-&@3E(`@Y:M()-\$K,88&/AQ5M_PKV./<',O$ MM4@)'H_=Q/GEBP"1BWR\CL)$OC*(0!/+P@,4F&]'%$:9[= M$P:81S2/AL1/KMA:6EX3OT"%I'-O*XC5Y\%,Q)[Y",[:]#*K<\)*%*CQ6%3D M_F[RP)ZC?5G\K.8EE`+8K0RPYW[?_)9JL:[LNMR[E0'V',DSVQNHO(4,L"@= MWN=X0JVUXY`A'&?I9)$X4<]QQ$EKM&[N.SV7NM?\7?_9G",<(UX+9.E&0G]O MZY7^W;ZAZ]N@%J!%$,$LZS*2L5`'!UG*VE5!87\X8*6M3E^F,7AKR:P!P([! M-VJU'[)!YBRA;1NL3I_YZA?Y*&71/Y:N!2V;ZQ4!*X)@R4U8%"/"E@97)//T M[2A+ZJ:5`"2&Q`$;TU9%@RT/KDC>09%G.4G"*'FUY*U2$^!B>"1X8_)JD+!E MQ+U,Q^,T:3H-&M0.>H<8_-]63!K#PI86MR*XQ?2GJ`4P,1PL-65/#`=;AMR: MP-I93U(#X+4:C[85MJI0L.70K0EK-MFIJ@%0!`%-&W)6PX,M^6Y_.)Q&8-'P MBDX8'4:SYR,G,2U5G83]<X6U$QAWU=JXC MF^-2)RU&$02R@)X-7F;A1/#770P`Z7E\ZJ9A`$COL$WOBVT`2*E`S3E>1>[O M)0"D=X@G[Z*`AOH!N1#`3@6`]#I^*657\"0J#K@0G/>KM2YF2HX&6:2&B9-0Q9I! M=<"-X/B_$8O&Z/!%<*0O-,M*<:XI576\]:(`",&!?Q.ZQ$BP16K`:I64,7I) M^#?RJJ1FO6C0ZR(XP6]"C1@)MA",GVGI1><]/!R#8CDNGBE@AE3!E*8FP$5P M>-^$."-@^((O5H%:+`\!$(*#^R9,B9%@B[!8+(ENDF$ZIK=IIF)'4!I@[9ZG M0@8#6U3%79JDJ[+.K,E@HZ6M"Y!WSVEA!@I;D,5-DE-&LUP_<:V5!#@(/!>& M6A=3)D2$+9#A9U`#'P8&L*]@T5LYI=XD`*XH3TGO:'[/:$[>54L.PR9``0@< M'1M1:@<56X##(!]1)L6OFOV4%0$L`N?(1KR:`,3V)',3(E40$;A&-N)0@PW; MD\)O*45D*1>>(PRK(+DD5#TSZF;PG4@6!KOD$O-(6([A5APA(8 MW;/YC9NK*"YRY:T(20V`MW-[=R44;*___HU&KR.0;I;N_:[@FAB\U*X&Z'JF M53N@BIW;US<`J'Y&&%V8+9]`KN/TVVY&V2)((&\;9=MK%Y3D=`PRIA4@"[%67;\_O(C52+=677Y=ZM*-L>DD=G-E`YVBA;6,CS M&?6>I7R[%EY\_`(#WDVR.-GI#W/8R)4WKPR.2JP;@P$=Z+>9 MQ^@(P5ZU*0-&'J4CZ4[573;V?OA;D>7=G3L&;0:S4Q[E8ILH*, M+*:79QG@&:+G2>EXA!#//IYGURE[I.PM@HW/@%W&)%)N(ZS:`24BV+.Z[9\- M%(`L9+B?931_`%-EY2PS>(ZCUZD1#X>LM&#]68MQ&Z`!#$?=3DW`$CRR6&2I M]*6&2!0^I8\TSY6[B\CM[Y5.CR_0C)JE=S!H`\!B.U9WR;8,<6USUR1[%6$O8`M?KDM\D_`&GE%]KL;*+ M2CV`BL"MA\L@:NIQ%R0O\3*MRW#/Z`06RXO+%TGX6"0A^[BBDS2+A+=8&[43 M]%I]]0>,65WH``@"9G"-#T(588OO%XK-"AK>1N0Y MBDOXMH:Q5AV`(W!AHK,-H9:P70DP7Z\[.44$)?SI7)VVZ-'=(Q#+SU<_F:L# M945CH!0$[D\G!\I:E.[N($@6D#`5E?[6EZEW=1:!)_7&2A>0MNW`B@C!]J$I M+8(E83,%8+O7,$,!DUU_^$9+=&8(M>8@+> M7(`2^:^CA"1#1QM\16.@%`1[0R<;?"U*"?7>W'L/=#(;P08OMVGR^D39^(H^ MJPB650&`>%=U6F+$-*NQ2LCTYJBK2GN7YM3@7$=6!0#B7:HY(+..57*!RE]> MU(6L"[BZQ,2R*@`0@0?5+9EJK!(R/;YYN]PE+(/?#0=@%B<[,5`"7J]\0UNP12\Q`7_/!G//41+R M?[C7^(W$W++O*8O2<#V<1&$$-LV`(A!$B-MMQ.WQ28CVYH#3))&;IE<[1>`T MLR=F*K=$X=[<78_%9#(]L2?Q//?03?*2LO'T`J+>QV78`L!'X!&QS+EC`TW" MK#=OUCRA,K]`J(Q97!8#(`@<'59:%Q-7!R5AQYM[:@YL'GVY<(\GH6!6OHHR MGJNI8"89W3=M&A2&8+=D/\!NCEF2O,9C4C-8E//-'0T[JA&X4@R`('!ON:%# M,BC7T$IHZ_A)\7>5#LO\YCS"H4R35!F[FB?U,\T^-?]ZY:.WBF1^NBK!T>&& MUK^!X+)4?JKB0>^\S66[,*&?F1)7K5F/X7M)[G?4:G)9H^1^>C+JY`EA[%2* MOZ-V\[\V2O%7:K&N[+K<.Y7B#R3&F^+/4.4MI_BSG2:>H%G-U,"+P-#K,9QB MTXEAB:"5Y'JF.N^#+"&7YSHFKQ*EKY0!F3WN]9MJ70"AE;>M;4U]ZK_[DH17 ML"/2V/Q*6<#@<3N_J?$+H+22`L^6CFO8K9#X[Y2P:_B-;E&]5AIP>#R3_(Z,9:.7J"@@ M\.C(:$J('$D[6=OLR+@$-(S$-TE(W_^3BBXO2'EN54L7SIJO:Z MCGK>4%0$>#NX&S?%I4YX)3R&^/&`?^V99+34R?\#4$L#!!0````(`%*!;D4" M)9%?LCP``."8`P`5`!P`96YR:BTR,#$T,#DS,%]L86(N>&UL550)``/,;V94 MS&]F5'5X"P`!!"4.```$.0$``.5]:V_D.++E]P7V/W![+@;=0+JJ7-6/J9Z9 M>^%'N<=85Z5ANWOVHG$QD%-,6U-**5M2NNQ9[']?DI)2#[Z">I#,OA]FVF4S MJ`CR'#)(!H-_^8_G38R><)9':?+7KXY?O?D*X625AE'R\->O?KZ[./K35^@_ M_OU__H^__*^C(_033G`6%#A$]R_H/"B"NRQ8?73\ZOC5#XC^\/;H4_IT M]/;-\;?HUS=O?WS[_8]OOO\O]'^O/_X_].'V#AVA+U^^O`I)#06KX=4JW:"C M(_J=.$H^WPO'M=%_RJ+/GC M2%J"_NNH+G9$?W5$&NS=\:OG//R*M`%"?\G2&-_@-6(*_%B\ M;/%?O\JCS3:FBK/?/69X+=8BSK+75/YU@A]H9]$OO*=?./Z>?N$/U:^O@GL< M?X5HR9]O+J4&O>_450F])EK:TO,:9U$:?DB&*=R7MJ_Y;1%DQ0C=V_(VM;]+ MBR`>I'=;TJ;&G_"P=F[DK+8O&33QL/9M24ZM<<%K:]RH7&O&]-]71(>.=OBY MP$F(PUH_*JT85UGE;#QF0R2M-EUU*HSIX)QF0GM97>L@OV<5[O*CAR#8OJ83 MU&L<%WG]&S9E';TYKD;C/U2__L(3&?F?\"690++=!B=%?I*$?\/A`YDJ M3U;D3U$1X?P\RE=QFN\R?'*?T\FMJ-5AC<"4_,[;(6- MVK;LM:ZVP?TTVI+9EM1)G0J<'/U\^]6_-[6A5G7HUUKDO_Y2*M2S\B3K]GF0 MK6J5R8\:,ZL2KUXU]"_(]0^)2I]GA;[ MK6H/`?SM5@"B/TA"5-6(FBI14R?ZE=:*6+42AHQNBJ(UO;AMCX,<`CCP3S`& M2)!OS,_2 MI""#.4Y6IHL"PWJL$\/4SC[B6O+,W^G4T'%U/!J!!W5N'ZXC>M8S&$,&$)9_>I?EJ8U.8_!IOMG[M6'PA3M3/+&/#:X^J'WW91\0*8 M4_H%K7.-T[2/J[*`5V.^N'7[2%$UK3TDW!8$AH]I'!+?L-3H4UI@LP';H`[K M^#&QKP^MMBRJ<$:E_1RAQUA:&7>7!4E.P!BEB0<#LC$T^PP;B$N+Y-O=Y_BW M'9DL/CRQ&4,_(,M%[%-+KCW'I'U15);U:KS6=0.'*U`?N(,1:,R6RS@'DG), MYI'DR<;)*"O\(X%^=(4AR.)6\WY@7ZZ)&[[%9"ZC4]D-CNGA]UF:%_GM8Y!A M&CT37@NWMOXG&7$)'S#3]O2E*5-9W47W+*J6G: M2DTR)H]*(G4(U_X,.GWI%*P^A=BW/%J;S-]XM[O-)LA>4$I:CKK]:+GU9!DS M$\E4(]#D#+,W)%T$4?9+$.]:RS3(%*T6LSY8:*SH@Y<61ZP\^H@#6MJ_>1/2 M,7U,PGO%XF)I]8C#74Q8LM?N),\QVZZ]BH+[*&8A%%4_A$LRA:]V618E#X0L M47X7W,>P3;%IOV-_439Q.W$#=E4_G>M:^"^_P4Y%6E^I:1&B)?4XJP\A]B7$ M/N719#=WR_T29!$SN4C11?1,I_TL6F'J)6S2D.[CW7X)MCGR-31J%@9RJ]/Y MZ&=OK&(:W^`B*B>$Y7T-ZW0X9YK;KYH?R]K(*(Y4>/=W'AS?&F4-.8J4 M3>#5Y#:0`O*);!3^70P"PGAE,\[KJG!(<:UU*D;++K%X2%YC.UNVT?@7.B%Y M14P8+.4\-,$DA'8XR?[)R/3F_;LWC$KT-ZT-G6IO:[EF.UO5QI;"\3,3MT8A M0ZL4VZ/U9M^RM]FG=?E&VQ:F*];?;+R=U<8C)-O2],*Q'0+1FE+#\>EB%ANQ MF4KG8]`T-_H;#N?!\>VCFBC;YXGZ8Y`C\3$(_8X'B\#),26?HR8%E"GKK=(E8[NJ<=%R%9]6]9P'$/BUJR MW;WR9K0X@>I&(-D`=!4E^++`&]%X,&7E]J?,*5J$FRL!\Z-F>J35(U:_V_BY M^9KG7MT\]W7SW`]J'JLNQ&2LXGR'B2EU`"--M=18[@J:VHMF+KM)X_@BS>@? MYQA]-!\\G!%)UW)"&FJ"F=2Q3/7:M_5)]"O]**J^>IACEVE#>A/5-"_I)AN< M#!AWD`/6I]WF'F=VQJKZ6X<\3.W;:W(_:E$/48OV&+5`Y1=G&IRV7*(_IXTH M&*07Z!0_1$E2ANO$-(/FK&W1)&STKR4^E-.6LAD.=`SOCD,S#M^B0>AP1NZ? M2,$BOTS*!)TS#MO]#QWBP+9U^747YG"[NS?S=@_,X=.TXG^_1?+F5XLA"5!TT)M5RP_X=1P^/-+?! M"5$P>,#E/2L/!B<;1)W:03%@Z>$,>:V-J1HL%5;JT9Q!QL[^O%J#@QL&X6UK M;2^?&Q!J350CPX%N\ANVN7BL_.]S$C!#_P^,"R&`YXR$"?*3T:"J2 M1NP*MRCGFHZFU,*_*6G2-AXR+:E#V5OS4O_0PM7D-,VIQJSM+AEK#^<$9'KF M&X^M<]'^@,97P0ZKJT'66)7#&VG-6WO(MH@F@9KR3.9W/>".;W[)J'M(ISLS MC0B3#[ZCAH,#&H%K*YR/OX:*'-[H:]K2,XZ]>U7^FXR\8YM>,N[Z=+;F9!R8 M?-0=,0AX-.;*C"S?2V@EN%@6CSB[>PR2ROQ/:?*$C^>QA= MK<=2C-7H=S3>VH^_@`V\O]?HC,D[I.4"/[P"K0U^'P.TW;B.*4<,F\&I05&F M35Q?1$F0K*(@ODYSIBAD?`6).PA`!5G%AYQ68BP)=RV(:DDO$HT-Z3@^!M.T MUQP`4ILMK%?0';OVX"*7+4[6_Q%>Z6'M)46ZK"]E_3%FFLPXOS-%SZ]N9> MAM8TML6!!F<1\<2N294XRW#(5/J(=9DD5%+V!QNE#=S,Q$JC$[0O7P.I%/$` M2(!.X08?:(\XF,.N(%GB[DED!$5ND66.0WLDN\&$Y-&*O@41$:@]-:?NV4!+LGUY]QR!8(ISV,"`LL>-R^2)?#W-7H@J"BYTBUG' M?D_+/D+V?UY0B"_075H$L=MY`*JQ>R2+$-!'KKS[[2'U8Y!]Q@5ES2U]:9>] MOJL?Q)52UG&LMJ$/DJ8T:HK[,(`/-B/?%W>/>P">^C0`@\D>*ZXSO`VB\,,S MC;S!Q.=B032=K0$%.T#2UED"LZD/LTH*56)L;5`&P77WJ%P29YAEYWA+8TW* M1^VWE9FXK,,#(AE`L$\H8_S9WKC]1)K`<.]6).)H^U:HO7@'=X&:PMY$A!I8 M00H=K?S*L>+DF35T0=M*U_):>`?Z4I;EJMTDGZ&!* MT5C"SR:EP`(Q$3;T[H5H]@PBYL5"P]BRB^@9AQ5'%BC!!8V*"5:KW687TV2^ M*,1DCEE%90@Z^=N_'2_>OWF_>/_#MZP5R#]_^--WBV_?'+LG&`R@_*P#1Z<] MLBVCF.CR4Y#7ZEWLXO@LS8N/N'A,0_7Z'")LG70@B[AW MST:)WAQ$6VNFME?HF&U&VB><-^@!%U2XX>"O!XV[I9#!$LB#I0]HR3.O*U?0 MNDT7.P*]F8Y>@AN*:U\@W>(78&$O+.UR`%$.&.-!2TQ/-@H,\>M^7K!-3?+$4+K M.SGSF*1^DGNG2.H*^>7^J)T>5[B[BH+[*&9GE80A[(K/8QJ'9/PI+^`#9@1X M%=:Q:V!='T(M438KM(7KC!I^S`,S&?G'/[Q[_^?*4O<<,L5IGV7#0.J$A_#K M("HAEUS3WZUH`\^OVR%&9M2JQXV0!_Z2'DL*=GAR8Z2.AKP.7FA$#3P>MR_@ M+!*7TUP:N5J57/@0@V*N_;8LZ1[V:LC(PFU5>+$*]VR'0YZ':L3+9%R`7JJ_ M`#FT+!+,`8Z1;VQ":]SW`O]J#`DH``&0/1:!R1PFD<[F[M.)]?_=H MAV/<2V0;!=1JY%SB'124VBKO97RMJ3TTR+9>$%]Y2@IXM*T!NBR?$MS@(LK* M?)/WT'WC\!. M;Q,9_N[W;[T9*(%EV@#\^K>,=>\ZWGWX]!H;Q*:6DOW!,%1`2MI!];*4HD2793_'`'1IGC^YZ*GB=&^'*\_C1= M=_JRWH2O,SW99C$,:?9UMP4P2WB*>1C2W>);C6I/D"S%KZ^8!2#56<+(=+.) M"O;N"\T4EK)05)RLU'A52ME/#JFT@0LE:4J7B>O:Y9WF@!QL!KN&"#'$:OY' M/;*XK(]06-E,A#X@4-.KT$RC.$5_@R\'F]$.K_0@9LP\HM*_&,KN2P6ZG,+" MTBZR&0ET%F0OZKPKX3PQ\.1J6TY)),.)(`61&B1V7:(T`4&;+^K$^>EI*W(5 MTL0"HH'GG7"5HEY?NBKP@/]"]VQ\6WW_[;G%\_"W-`7Y+<,R>6D'O MWI!ZWQR7Z55^6+S]T_'B^+L_T3+G>%45.69%WKFGE@RD(I=*CE"+!ZK[1R2O M@RB\3,Z";426;*HS5)F$_6-3J>[C@*UI_^_2A*T$JE MM-6S,S5LN.,R"&:L!AO7R6+8[63Z,FN&'W&21T_X,EFE&WR5YODG7"S7=\&S MB@RF-;D(3#:T51#KNT^M4]Y"[]2!RDH0K85=#EZN$:G(<23SA#:GS.95Q^:( M5>(!#X&'(*.A$GE+[7.\CE:1:O$/$7;PR`/`(OY% MA%((U5*H#==*SB7_QEGU=5B6^<8]O>"`XQ][,$.;RYTSHQTS+W;*8#MD;E=3 M(*W+\Y&\*8S[+Q/(NK=#7[UR:#LYKXG)X90B[AC M1&:7O[2!0M#TDKXYI7"2_9,1YAO_G$>Y:LXS7<9_B7((GK_\RYE MF6^OLVB%V>8$6;&]W'X)MGD3M7*9Y$6V*\^!Y*6A7 M#R!SS'T11!G;#:W2Q27MJ[D?<4!-"Y?)#7U=)"->-2GP*4VR^I^G01[E M=]1NQ10_X3>L^P)3M@^7]YS471Y"U-D1Z13;=B7J#Z!E@O:?8*7:'T'L*^A7 M]AT/GO">'%/].7LF0#E@W>E+I2X=#"XRXDSA9/5R\ARI0HY`TNZ8HK1)P8'3 M%]021'M),I<069]PK>\U*6*A7>8`BR+%SM--$''.B*A-5-+NL*BT28%%"1!+ M49^@J.\T*12A/>86BOE^%/_(#IX-LP%&@54P-.8M/^#74M9I+-IHXQ8= MZQ:->7Z23`9'",O46'3B?>Q__%N$,](\CR]7^(FT,M@!45;@T@=16Z9V0UK_ MVDLC)NZC+P+H0X4[`NY`Q],`K^<@WT11CQ\3@\).Z`PAA*_?OHNV>T'C*ZQO M'0#Y,MGNBIP1ZQCNQHBDW(%4:(-J7B\%%M7`>>R7NS+6&H]H)`>7E#0Z9+FE MR-M!%'GK%47>0OSZLGP%J;?>$@1B2Y\@;_TDR%MS@@AQY98@[P81Y)U7!'EG M3)!WWA($8DN?(!X$S@.@!2&($%>'=8)U%27XLL`;T*)WFN\*57FX_4M8G.R!CC: M-T$TL@D>!#+&5!@]E M=/8VZRJ\?#$#9FK;G*@JAL(=VY,M'C$JWW]POS`>@EOP(PQ:T(Z8FB$?/5G] MMHO$A!M0A]VIU]"^H52KJW"SZSJ%I6UK2$5%#">:'9]A;$]NZ/.PU#<(%&^Z MH*"J@;?]E6/_8`A3._[`<)IZ,/_3MTTQ_>'#\Q8GN6HOVZ`.?V9^@7TF8]%> M'%7R7L[Y$"/K(FZSG4QB@F:P\=AKD;$-[+*HJ3;))G]S\'96'QW"-_65PJXV M\=46*?:L6^>_>TGO=N@'6W41!D[OU8M2;-Q$^6?-?3:UF$.D"*U0P*8ICZB`-[?5(/TBAY2N M4US@JQX"[\@GM1?1U&(.\26T0H&ONCRB`AY=*8/TBQQ?NDX9X0JRV+%E%+-T M0#0+D#1R7UW*5MFA:&&G8?J#]:?%7#JAL[:Y-3]3@_>.9PD" M^YAE6/6,QC59^$6[S?6N4)-/7M[R8DNN-S\T5V^=5&41*3PW_32[$X--V%8F M;+4FV%LU:1#472B!X#/57'*6QG&0&6;^G'!8#0OWFS(N-:DLNF+FY&RWVMO>C: M*>6FOZ6#0-7CWJR2!"TJ['6W'/\8)=%FM]'V?*^<];[OZ\E=CRC_[L6E9:"N M[B$J[/P^2!4];Q&FP3,,IMUR]F':TY._Q?/L#TQANGH`4U'G,I;CA9:P$E),S5?\A),!C&V+ M><#9CA5`G%`93WD[P)P??`0]#RX][&7(;:C]E6V*S\2 M><^@N*N$OYI\V%J@3#*T?Z3GTU'Q\C%-BL>3)/Q/'`!&=K&4JX%=8H,"%+4$ M8B(L"3L5\F!4!]IRAS-)`(UMW\NX\1=FK>]@1E)Q0C(AZ0EA;SZZSM(G')[3 M1SW2+0YO<(ZS)YS_DL:D7Q4SDT;.^ARELZ,/L;(\V@N@6@*5(BZG+5-;&([B METKS')W>QQXDY08AJS^/&<#*A<]V\H2SX`%?I-F7(`O9'0F0]R:4<^C'B>U0 M#<.5!*I$RILZ;I/AF)K#?O_Z_CYVSPT0HN0^GA9.+KBQSZ&_7+="U+`HZXV) ML$.6*"Q2N(NM5QZ6ZW:.&"+IQV+(P*[&&)](HX.:G#DPG$V2".HJ31ZHYWV. M[XN3,(RHAQS$E\DZS3;,78:GA3*HRE62*!-K%4F5:#6(UH-H1:BI";6J\BZ' MU$3&'S'SCQKSCX8V@(,D4\9PEZ2<&HAUFS/>?=$*-=$FH1*4=C"GB73F)S&" MN=:VKT<9J:1-S@_UFO:V!Q2*Y*)",LTSH[F%(RYN'2H2K;F\O%6QY]N.@;W1U>M+=O9`+.,2.]@2-"C3>7<-3MKT/.T(LX$V$G2HA+>Y9A M,F%J[Z>*"MO'C$AC/OMWPE9193$O+JS"]4YKO3V`MA0>'*PUV+`['-:.H![2 M@L).AD%.8]$0V'+QW2>)T;>W:.A3-;8]C)0XO0A6[&U9C8,E*FP=(T*-^51" M;+BK2WGC6P.O_2H'N,EDIXI M'J%NHKBP93]1HC'GOK!R?E%LB.Y8SC)[/I<*)5VG2P^146N:-1RLPK*VUS1" M?7E/>^T=4@=I[AJF"GCTE@8Z;(Q:&CSA)*@K+R<;W?I`+F%[D:#0G?=<26&O M4&NNOD?HU>.FYW;#0.,J0$2;>Y,O[#@\1)ISLQ<=XLFFM+RYU;$A;M-LMC4! MIMJ4B3B&BR;E9@:>;U[.UN3TW50GUKJ,*P+F]T?LTR+&2F[*"UD=J M3M,^.F@!]T0T5]?]S"$&07^^4"%@S"P1IV1T2!X`,X2@I.790:0K-TI5A=QC M<:#.3N>"J5O8WA0@Q7%W^->`>`23;H*D2'?Q=9`5"8&%FDR2PG;Y)--8\!01 M+8?J@NY9-51SE]R:J;6M,4R)[P[)`.`>M1N813@_VVUV,;MS=T,\.KRAUS.N M<;;%Q2Z(K[/J.<7;(EU]UFT5#JS.]C[B4*OY73I:$SI!366HJ0WMJT/[^A"K MT(_MR#E;8:CI%CY=[7-=@3)>220<[W)=*1-(]79&KWQ)?S6? M!>XVZ3@4J??H)!!RQ0&R((SRVVV&@W"9_!)D$>4N]6N/P:105>&8)4KKM'O# M3!J5XBA-4%W!G`NL`40R-S)JF!4EY(LX+U!&!!9H$V0/4>(;Q?0@57,.BE`W M]^/J0//JL;[3-,O2+V1U>19LR5^*%P41S:IQ>J<.8*7FMEU=`\W!5CX8N:\$ MU;7X5M?=[:U=*:UU=Y(/B6'7%SPS$;OEZMB->+1E< M1O)57HT7?%58">9K5<UDY.73*OTQ( MAP4Y/L?E?\%NKKH2QXZNQD*MJUO+,]>6_K,415_7E7SC.K>>!6O=T],G.X>VJH8"-+ M""#'C`\ST6U!_B^\QJ2?DR)XS\95X-!,)+#0=F\LJ4%.'K_.0/5O]F)!D MZ(5/2&KHCCC;.TLWFZB@G\M/DO`L3>A9/4Y6$'Y,,4CUP2BYH0(1<#45B"^2C#SKI M#3[.+V_`NT0RQ&C[8PZHY-);&D`Y3P"3RQ,*R3&3>W!MPZA[8,@1]LV80*?= M_0WUK^+\[DMZ]YCN*:)M!M7CH>%\I8EK@SO?5[.$ZD"@YGPSV:\G! M(=E\V2&!L<5=6+H%3/0KAXD/SUN<*,]").7M[\-*].Z#;[G%67F_@$GD"S;N MHTK`\1;LC#98W9)588C;D]4#R![Z]RU;-NS%KB"<_!@E-.;@.GAAY#W?X>I4 M4T$+TXJL\\784CT(RSI050FJ:T&DF@7ZA)\+XEKAF#Y42=^!F^NV!)!KOMIO MDZ?#T-XG\!BH>\?LRX0XQO2=2U7L]X"Z?.5WQ][!$%]0C*/+A*V=6&T'0>XI MC8^TQGO(;![M`\DM@[J/_"9?Q=,QO%6;QQQOVSP!RVEUA\7S"1L@`C2`GUSG MD#^<[1+8>\AWFN%P,KJW*O.7[6V+QV.=UG907+=KOI=,YS`_F.@2P/O(\^AI MNFF]59G'/&]9/`'0Z1WE@P-ZO].'`UWX19SA8%\I\3@/J\A7F'7M' MHKRIZV`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`*O9KTH&TQ)#AN*F7'2&V]L*:JCV!_FB0&(W7A@CQA#"?\!?VI\'$:%7@ M%P':E@T!.I$O2_@.9ZX+C6`KZ3\G&W+7&?%SB'),,]@V7$_$Y>9;7WOEEML" ML>(4=27B/`"9IB,4&VZ*7G`^SOT2Q#L\8ICKR_LRRG%VF0QR3/@@QCAQ]P&' M.%7?600F906CB`I]K4+V(=;6D,,1_6,Y7'F`$JXM.2A(&G+$(7B3[X$>9^'? M=C@I/CRQS!!A&-%]MB"^3-9IMF&1%B?W>9$%*]&J>%QU=@_*AUO-)T"&)E?'C"T4QCQR.@#`:=H4V-`7=C%OD>(%)**.%\Y&ITUPY>M*Q7 MT5**/M"-8<(.<(H@?8"47,8'%,G#H<0X\BY$LL%;9:1%L;LLN_I2U.FN@#,-&_43\)KTB$TJ%4_ M_\[R.3?[D=.WF@K9_DSU,R)&N%T!0K,+)BMN M>3-,JC6WPT1+HG917W"@:?GNQA.DV>TY/A\VVSA]P67`(/`BA$+&N@NBTK\/ MH+IL%?[IU44($SO:ZOLP%H*QU/=K@$"RQX:/P3_3C+I+^7)-7](C7E,95MN$ M!VI6B>`:K#,%;EL?;TR2^=\LRPY[5Y&^,%&*MP)*O5EX&O9C'Y>#.M$KE&I7 MH`9U^(A4Z5K1`*O>+"6-^W,`7AWO*AMX%SYX%::SL$>3,'CRG6#2E2Q$ZFE= MLQ'`%;.[\."UE/F+/OA8JH;MK"^4K6IQ5YWXO<$#IL''.8ORHQM061KNV$7_ MLS0O\FN<_9Q$Q7+=_+[Y";(A/]DG[._E3]KB=:7$Q>W#FJ)UGV`73T&QRX*8,)Z@ MNGY^\FQW'ZTN,-8?X3=.G((-4PCH7Y+KS=R>JDHM^PD7W"-+T0!]`H.:WZ1"VM:B5NPD*>IMS M14];'U0W'6#B#AQ&D%6\`]G!U@+5DHB*LDF_$G8/.Y..XUU,TUYS!$''[!)8HF%5E?8#-3+^$,G( MFHI`>6E.H#'''9%D8%,32(TTM\0ITP\8DJ86\H(P>PN`9"G+^T84@!5=DD0* M,UP3I`LJ"#E$B')+C-8C/(;LZ$AZ09&N+4">M(3\1)F@AR!0DW://;R=I9M- MF@Q=+("DK>,.9A/_<@F5JH#G[1)AE&W^+0X,X-\OE7!/#*F_+"*%>Y??6'\_G7T-A+0D M<.OF<^K`?'RUF'LJJ+U[$1^TKKTC4H`LZ3(C]6F5`@&8EB,>K$].5JO=9A=3 MU^X<;S.\BMC=+/)SC-E=VR0\V:19$?TKJ$+%MC@K7NB5VCK:>DMO/2I(-=TG M[(?<4^+J>'$!3C. M@B6+3VTEJW2#V5**75679^+42MA_ADNJ._I*Q6 M@H5[G4N/%">1O?MX8SW8E5(NXW@%-BC"=]O7%[Q`_S!+'H@E_G`!@"A%F+$: M3@Z&?X.1WX-!'S;>SXOU(BV"&#S.RS6^H_5X!&P9)*3CNV,(LUM(U!=_IIE` M<`[P@>4B#K9DI-KSFQBD:+E`JPK/GS0>N!D#MJ$N\J-[G.MPP^^V0$!C,Q2> M+%>+)5F/DJ5I\L#44V!>7-Q!$+Q0:SX"GA9#^W*(%70)X MA9@0W.%6`,+JTXI!1G-*)>'?@P?UXW=<41=/*?:U%3RAR(JP<9`5^S*L"!XU5$!!'O8_0DGQ-^B2^J35 M1.G*=&3JQ:Y+X)O;T[,!JVRPR0H@ROHD,8*8NZT?@RT?#[9Z0%L\+C"U^EN0K$PM+V=^&%.G,;\?L=D.KTGI9SNA4/ M4KM2EB*KWL1)$P^`K0`*MS&O0XG%8]R`^Q:%H\X0U%IT-?5%/"-!QO[8-!QY[-FB+,9Y47<5)P7^K4` M5])!5%=?5WZ(+4O,Y=F_+Q5-\`,-Z]-!WT!?;[QX"1[X4#,%&"RN;(,HH9/0 M,CG'6?3$%@Z7"6$4>]XD_X2+ZPP7P;-JB0NNPOY:%VX=M^@EHNAK*OP-6M(- M_5K>Z2[/:(-B9E":H%!GD-65KR$*N27P(`A:7$G0Z5@Z@ZD6%1I!^^L+G25B M3T3A9[FDTT!K:K^*DV#HXE8B!M#R8%$R9#'BTR+$;/'A M:K*$>X`-@)'?VK:`)^J")MJ)E+4Z>(BHQPT85+_MW* M!G@.W@6B(FYW+3H]GSY"F(8CK;W*6MN]F/:4Q6 MPOEID$9V,ZCR*=X4RQXU4PO[CK5+=N0L8 M5#Z\U0BBZD]?9@]]Q1%+(@B5%EFDTD:;''/N4*`98\9?\?1 MPR/Y?O4:U*<=?0]EN>9RCNAF.,-ZK+/(U,X^-FMY5%6`RAKH\YE\]IQYYS4( MZ28S-ZC,+?/JN&?;(+SV.3@"K#:?`ZW22"S7U`F^B-,OD/N/:C$'CX0JK>#? M"ZW3@!!B40'$)+Q*"@+I&/X=46BO6%W>4%VNLY2NO,+3EY]S'%XF^Q"CDU5! MUF3L'6=`1,^`REPLCT!=&*R.JG=:FQJ$ M0;;PV(#"_(D@ M"N_26UP4L2HRQ:`.^^E.#>SC9G8JBQIAU$@O*M^:5$#WSLLJW)['C;&T_`.+ M(D3I&@7,\*PQ/-U7Y@$YC2'+95P=AE=[I/PYR7`0TVS[HI!/U=2IE;1.0+TM M?3`V$HA%\U*9F8.3S9AF;M+7M.`WB)X6>!>5#`1;GT1&2',1Z4]S?B[7G73) MD-3>T`H<1OEK+!.&Q-4;Y-#]`1WP.NF:%3'O\/AZ;5/.!D1,CQ.2[_>YF(N,H1#K!+.G`=$ZMHA9=#7M<0WB,QC+:$%8G'YOE%(9U;YUQNE)1%D/JBMR0YJI;*[_Q'82MY6YZ@PP=@XHINS/UK@'Z=%7CD\S MAE*V<[8QCJ\^^+K7P-Q7 MY>.X,HGY_9#':&_Q`80\`K`-#'D$`WO$[@3QGLH8Z=:Q^7(M/566[DZ8UV-W M=V*`G=RUW[(*%NG4BC$@_U0$5[C!!D#79=AGF=J#%I]3VJ%<9A?$&O+B!E. M->@T:%J3B]>H#&T5//[$:BB7CRQ.C$P-(@[..Q&:K9VGMCNO[/:6I\,P+7@N M:SB@G6^%741)D*PFV@I35N;+5IC:8J.ML'U5![059F9^?RMLO;?X`+;"`-@& M;H6!@6V/SS=X6WD+R_55FCSF0GNI.[NDH=?)PQ$MBVAA MMP[L$!/2!,74A(*:$$I-L,D='8[Z#(&!R`T//J4%!H2-R$6<\J"G?1]$35'J M5+'""QH8V$1)2U)_($!V,5#208\C^WL=RO9^K=&_(RT6<[7,(M)=# M:-WROV9Y4'[8A@;`AO,Z@6OC3GGRL+P.1K(="S6&W.Q3-)?&@?X11-CI;H34 M(NE"G$JA=I*$>3VHX1L.YJ:Q]UG$KMB0-9Y_!!\._Q1[_([?+QANZ>]M.W_\ M-KXK2E+UR`!!_T./!I^(1T0O$^$L2L/^92,%*<&M(Y(I.$).YA M;U>Q+8/+;1%DQ0CET!&ZQP]10E_GF%71#XG6`U>KB=GC!'X,`"IB.WLY8;?= MED'D05QGV[],UFFV*3/Z`AY1@-9@_ST%L&WY*H?B(3PRA? MQ6F^R[RXRVF(2>[]B"&`M)FV@?0LS@N:XU-!JVXQ!\D8.EKR>1?*/[/DLTZS M0@/UW$KUM)M%@>][/F&"K./MNG&4-O65YOU]QB04K`3/]Z,'8+H87[43]W%D M:PB]$S:G[!,7-%=ER;)-&!_9U.S)[#-#PY"JCEA[D`))3O=6TL2'.6DJ1HA\ MO^GH8//%K73U^9*ES3]6.8>=8@Y>U.IH*7P2`)5_=^K%:=2LGW/$(=I'LGGY M9($(%?SS7C)(V$/O,GL(DNA?9;YU,L"D<136+YA/\J&23* M?Z+ZK?-EJG;I([A=[P)U:J[/]/9UM\+3R,JDJ=ZK=^TF!5"?(3.@YT"HUSH6&H^^:II7$4?[^@Y\^%&0 M;-*12,LP>X-2H\IR?99N:")/IO<-CFF0!PN\95[6*76R]I>)`6/0Z)JM#SGC MVX*/7MD/#O0EVE:=J*JTC#)?E,\_'[&*T3[VQY\!9?JF*5<8RZTGKQ9-Q(/^ M,#$I"3QX=LS,#3&KQI_'QV`SH")%EF6O`+24GL]:]^P=@E?PLV,>S=;PAX3- M@^Z$E?@2=">VBPXRK;8BUEGA//>\!'R@]/-*Y+E,#45^$^XHV3&;IY5W MD`'"'B2`$E@$R_G4")996N=BT^`43\:6U7>W/$MT"`:A/GV3&H$.TQF>[O(H MP42GG$RU9(U*(VG+OZA"<,RJ<9_B4&VE].Y5T20[;&I8L%<3"%J9#U97X\== MJX$&4X-8:$%0E2EI>1H'J\_H)GC"'BSQAB!7FPL1#%OG2SQ!XG3S)9ZP$E^6 M>&(+1S\CX.$2#V9I:XFWH_9%R<$_&F"XRM/"U?*&:'ZVRS)U)M)>.3=;FBT] MA;MX.:H*N.2&3E/V>"A:E7_WQB<4XD"XDR@&@3W$?B036Q;$U_ODJ&1UM]OL MV+'#.=[&6/3X0,M2H+QUA$/MZN.IDD.-X`*U1-%>UN7>Q%#C&@%$/9H'M-[% M\1'-_T1F"O:FG!=7?8PPV6?5`$".>$3FO'JC@Z;9):U7O,"N_AC(VGTL!F@/ M=X!=B;$G34M!H[L^UAX0,>FOSJ,AYIUE.H;G>/7J(7UZ'>*H'+[)#_U1F_QJ MKTE+@3M)UDEU<6O(TF@M!5,'0:RT0_A`FKY&#+S=YP;)':E6`XRRB!,P5-I) M`4#_[D>/M]M1U,M\(\[5LR?D.6%O7?$2W@MG>% M;=GN7D5#SLW4XD3;]7$@IURTW^"&BRY6D^!1L9!.+N*A5 M?$BT[4.C6FPVY1`MZ!84JH9NXT'?RO-"X8Q@,0OBRR3$S_\;BUZH4Y1U``9> M7PD:JH*(E42DJ`]XD+0V#PAE4\^%B&H;NIG"U)ZGO+A57"BTYL[)JB."MIOA MAP^J:_HV0F#M/N^P<1'%.#LC'WU(,_6@T2OI8,CHZRH9,%@Q5)?S8;00-C(_ M5BA:>"X0W&4!S0AV^[*Y3[G&KVSHE;':\7W]N!/#\N^H+."VKX5MV>YE14/. M[!NDFTV:L-M7[.)1OMP5>1&P9'!J1T$IZ,)K4%LBB_WNV4>\N<>9`#:*LG;/O23Z;[O;WY95CR$/`UH$^'&GVHH6N<)ZG&=6,AMME&>F5,E7!_J85TSJG;P?1F\R) M+L_/T`JMQQ,-MIQG(:T(536A=E6+UN7#LK8%8N]ET2CRJD;WT3GC,-`/UYD" M`/;P?Q%$V2]!O,/-95]0D@N-G'4TZ^SH@Y:61TR@=67=I\03(PSZ2/"U*R]S M>Q`Y"D)8GT0&\+(8E705)?BRP!O=2918Q'5T4EM[6(02E4!,Q+\P):XO-*%* MDHX8X6S?$A<&YV=E*&;TA(DSL\7%CD9JME\N4B\5#2NQZXZ;6LBENF'RJ*D` M[6O@WO&:>>&IC$*>TM@3+\P%+5+&6IR7%J\:>[=[>WN/E6GLM;9F&<39SB)F M!&''+NS_1I9.]T9+-,IZ5=;Z"AVM/E[5H56O_ M1,MZL3Z78H9?F4L`0_0N[2`SZ&?R;_(O\@--/B#1CY%+```/>4"`!4`'`!E;G)J+3(P,30P.3,P7W!R92YX;6Q55`D``\QO M9E3,;V94=7@+``$$)0X```0Y`0``[7U9<^.XDN[[1-S_X*EYKBY+\MIQ^DYX M*?=QC,M2V.X^=^+&!(,688O=%*GFXK)G8O[[)*B-DI!82$A(JN:EVV4#(+[\ M$ELB,_&W?WT?1P=O+,W")/[E4^>GPT\'+!XF01B__O+IMZ>;SV>?#O[U__Z? M?_K;/W_^?/`KBUGJYRPX>/XXN/9S_RGUAW]F\_H'G9\Z/YT>\!^ZG^^3M\_= MP\[1P?\_[/[2DJ9;\.T!+\7Y_GQ3[S7WT&@?4Z/[UGP2>0P<'!W](D8@_LY:#LP,_Y MQX3]\BD+QY.(=[S\W2AE+[]\8G'Z1RGFP_/>(:__+]?)L!BS.+^(@Z]Q'N8? MM_%+DH[+7G\ZX.W^]G"[TGU.ZA_L/6594J1#5I+QA1?\(F_K"W2U:6=9&KY! MW=)_)JS='S-GG/37JW6M="9JV0\#O,2W%4";,2O M,%!#9BPNO!T+G?SZ5P%J`M-"G/E#KB;&W1.U8*%CC\5SQOXJ`/77MSI*MEG? M1J?R9/AG?U*B?/*?(W,R12U8Z-B-'Z:_^U'!OC$_*U)6:DN]'DJ;LM#5BRQC M^0/+PVG3_>E35F9=.*`Q1D+X(,S.NS8\H_'[_XD$ZI$/;3;Z,$VA_S5R(?5++N-T1(U!6'CB]N:.):_ MY,LY;*?KLFW:NN4-UD4`"@0"\Z/*+K,>$NUFM[@MLPBGUB>VLIFS",JP\2UL M`2V",6IZ)\ORP$^A(R.8D(9^#84S;'Y;D!YS^&^I^/V7_H3;'NH<*8R:W@64 M*S\;W43)=_M(*BU;`'+I9R$T.H">0/.U3`C")BSO[YILXK:W4[.RV=KN?LG: M-JC2S4F%Z3OHU4I_V7O.0(.#>8]YJS9L4:71##X>)<.5[T7<7)>D*@'QWWBR M#UP\9^7>9]Y0Y#^SJ&S>TZ[K]<[/EG+2[>Q,-J4!,6/#GUZ3MR\!"[_P_O,? M2B"?#SLS\^&_P*\6O:ETHCP2"GHO*PX=/E_I<)7:BW2U\WXZG#4>]GDL6U41L$B>$(.:K M2YBO*8+K9.R',4)6M0C`/'+-E%#RFP1M=EO,3H\P.P*EA/6*W<)>"AM:LBK> MT>&A:_9,QYD:CYC6HQ;0^@3-*FCD10!FAR!M:S3@U"TQB*DZ)DS5!0`(.(B; MR']%N%HI`T"[;21+`$+,U@EAMN;`!RP-$]B,!==P[%2,L)6R`)SB3D1[J`G` MB%D\;0&+-V$V]*-_9WYZ`[]1+7AKI0&\\YU*$R:%<,1$V9TNJ]^8*\A/]G&^;T_QJ9845&`?=)&'G$LR"']D#R'5XS? MED6W<<#>_XU]2$E<*PO(3]O+HA`,0B-E8\M5D:8K2X5\QX,5!_QG;213C@?A MD[XQYB:,6'H%.%Z35#XH5TH":J>FT&9#4@`%(9"RO>8I];E7\N/'^#F)$.I6 MRGA''8H6&25I`A`(793M,+/5@#L&Q>6%V^,(I)7UBYP[8'.`\C514A%DTDJ; MC2XRA.TFIAP0TI?UF[FMW]@)_;*-KNJJBO?B9\\EP"+[_.K[DZGVL2C/YK]9 M5\/9KSUA1R[BX.\L>`6A7PSA3V$>LNP:5KLHX9>OD@L_"ZUZG?-F@W"GLG@" M';B$+OUI5QB+9KVNTVG:%I^KX]V:8"Q=4^8LS=B=VPEA)23"R3SPG!L.<5$% MK]MU-7JY!)]F$M09EL+R7M>I&59#N.*AA(/9HS&"1NP((#-P=B=]D)C M<*X6]+H-?=3J][@\$8V2"+C/IIVZ3W)F-O"TV_"Z3NTY$N&+!Y49L+T:3QN1 MEPY&TX9_OWI<856\7L?9"%OKDM:(PNIX/:>N&%IB1L:2%-(>[24%P<$N3EV+ M2:K_`GN#"8-UD7?I@44\>N$JR?*L-(3Q;`C!P/\8:XZP9@U[:\Z6CB12=O#2 M+T,ZEA`NTI3'%98=OOQ8EIF!N/CNIX&66<;NE[R>4SDZOM[4I1;8"UD6Q5\-=E0S#P9!'NV1DD3)H MQ3LZ=#\A3-,,2+(,U!C\AFUZ1T[O7.LRIQKW=:2P5V-A'?DU*';%D^JT:XAA+T:W!K)EEQ8T^8)"V#;%<;0E]"/!DD6*B*M M3:I[)R?N[-BS[F$QU^*"WHE3IU]CX6)VZ@U,/TJ<]0F)@Y"`@$U'-%'7]S^\ M^L2Y"Z]([IOL;'2:3FRUA5GQ*O*S;)8S#QE=RCK>*0F/,>58TP-")\:Z@>M$ M!1@Z(O'"WBF)PZ6<)\3=00R&3C1V@S$+NV6670SF/2XQ?F/C9Y;*1BU>RSLE M<6>(4(:,704<.H'<%B;G.TD"#+RP=TK"H=!\.EY%0">8NZ%Y5.<.9+6@=TKB M^(\0(V91@,!2"/?ZW;TK&F-ILKI7W3DG* MA/]Q+ZXW/RH-7/F5GZ8?8?Q:WD#)=DXZ];W>.2'B17PB.RE]<+;"PMUKQ`,# MN81#[K8@A"]1!E55[Y2$1^4A,^R*:D;$&S% MGE,8N]_\]$^6NA*:GEG)$Q;IB2K$-D*8'<_<`T3LC83>3THA-UTI<"/_&YC0*_/?#"$#^ZF=SW#=% M%/%`@6\L'R6!?!.NKNR=$;*X&.F!)C9$%XQ-<"1T8;DQ68I*1K^HO'=&(FB[ M#N,H',0%Q-BJ1H%D`WXW94'(;F9$K1`)PJIY1*/SC5I%OG185J[$>^,A`D-X[7N$KT"#U$.8_.:>^682D@YNLM<(5^9F,>=S: M`D0(S\8F-A(\IP4+-@4DIUICM(TWNA"3UO/.21C4[&[;$)B( M*K33,0W+B6!@5U54]\Y)6.0LJ(8V6D1#6FB\JR9DUM((<07/[3/3-J<''!_" M>@NMQ^T+NA8500LIHA(M](DS501,*"3L>MO:)DSQ(:2;V_8H M;17UJ`8![*'Y;HH*H;6%WG"2].T2FB6U0$#4;'=U:5>B1-2@A?:\6C/6[%:)!,+.UT@`N"<`IDX(?!;7SE3\+<%SVE-3.^J`1;2FA0:\!Y;[8P+5Z:>!D=.K>6-*D;G;JCA^E(3%1S2.=5:Y M6]4/#/7^YSH^(I?K^$B=Z_AH7W(=JQ09T^,[G?2;C1OWCFF\8Q('YBWJV=85NR)(2VFX)RP-$SCS^VG>:LW^%0KFV6T\ M*/%L4:U7/^0=DW#U:)U."Z1H*1MY^R=ID/X+"W/^HN<.]%GP->^8A.M*ZY0: M$V73+.WG4\V.X8"9S\HZO3&YS;*"!=<%?Q9V"K,42U8U8GU]9^DPS)A4=8T; M\XYIN-?L7#/K26IOTLBW?-]+PV^H;=.I6)"V,N%/-[Y?8\?S:4,9+;U]S%Z$ MW^IWO6,2X8^DK15J`>Y3QG^+4\$_6/@Z@FW0!>#R7]E\P1NDX5!Z@;B;'GC' M-.Z8MJZ=6Y_RE5*V]31":RP@Z*6`\$R]K7%BKQ?>,0U'2JICQ;*D;;U"T8+3 M@$IR@H.ZJ^%BV!7OA,959EO'3!UQ[\]3'HW%-Q>.\V%CU!'OI-VWIZX'C;FP M]^?-DQ_GY'*R%[>SU$\N)Q9?DFFY"6OJ7'X;`S=%.0V5$4E/(S^>R?0^B=]8 M!I+GWY45GK;U+V5\'B(390#6J#J$C3VJPJE$*%U%*$##FER!:#ZAM3^/WI5/0I2#WT<<=>V.1_GHC:0"D1N*N:==+CE(DEJ([ MZ$TPF\AKK3]H.R`^$AIW@(3]MY!N47*V7-C=JZ_P_1>)&@K+@U!(!`YM M@6FQ2DFDT-A;FU#0\&WIZ[&Z"BSOO21:(J\(@MH;\ZZ6NNB(8UO.RBY<`=`7 MYJY&W*TBNXWQ-^BV`CJ67ZC_Z+1#^Q* MOE%[`,JIJ:PI':MCU((H?IAK]9Y3@Y8%IC2NT'OXH_:$"36^0N\YM42ADE== MH??PIZMVQ(Z]R5EVZFO<)HC*J7W)^F"U))%]N$3?Q6O'G9Y[%[OF;(NWX_H" ML'2[3B52'05>.??<3B4@B]H[:'P[+XIF=6%U1"*)YK_DCR!S(]!V+(R"[^A; M%"65O_(J8T'E;S*BG>$/S[>*D.,:,5Y"+,_%1[)LFH@'!*N0!H#3Q_./AC=-A>1 M)_BDTF585@V$0\(+1TV@BG@,F]OH%&33=I46`>N'41FHR^-S4=<]67$`2,+G M14V"P$0AQ4371G4]^_X`CC9A,1X4N9PZK#S@).&`4HL[.2A+X1K-<@_K#+RK M)(K\U&#H52L`5A)1?LT'WR8J2X8<"MFC'[A%0[$96I3Q.C1>^S/8^:SUW9(] MQ>DVIX2D]&6OE`+H)`+GUKB0$%;MMZV@!*>@2N-GW??2BO_RX]WF68FT30+4"B(5$4%BM MP_\F$%N)RXF<^^_]L"T`3,^#4)'(=DJV'\-W`#M-.6%"(GMC<0T: ME]4`-@FC3G,BUS$A5+;0V%.-'5>G?1"4!H&0,/S4LA*LH4!HW:D)2#E"O_&S M-;XD`Y/'!%"8PN?J!NDR1L+KGG"FF3" M@@>@)WUCV>])!/.29)Q*ZX&0B!F`I+0;8$*(;^$3:TO9S)[_F3UNHGKE25H/ MA$3,>J1%O`8FA'AC^Q&%:^HEW$5VCOY+90O#9/$&ZLH@,&+6)T,ED`-#-*&Q M$ M\XHI3!E;L%':ZYPZM3HT$SHVW!"8="(.ZC->'5?<0TIQ.RHJ#L(@8J-`>!+3 MBD.A$YY@CU?E]:BX`@B$A-D")TN/W"J:?8AOX/N$_LL5]#7$/6WQPB`($H8* M&4T(L0@62X$,[D\[U25+S>Q&89`&"3Mʩ+/OPCL947V]\'E2,!OOAA4$0 M1*P41BLL!L12&`,A1I6KJZ@X"(.$"0*C28?4*A*W[U$@9[F;,,WR"U#7@*NL M_`I'5!:@D3`1X&(7&(9Q(`1R42!$/?*D"X$F4\+"@)"$"XH151(DEH(6MA(P M]#0*4UVR1&4!(0DO$R.N<""V@A6VPA5WA,E'NG.@J+#7.2/A2V(V">)(;,4G M;(>N\$6?+4%9@$C"'&.X8F%`;(4B;(6KTAG"GW=[7'9;M7)A-0`N"5.+X?(E MAV,KT&`K['T-7T>Z>T-16>^HTS[&<""V`@=H7!Q63ZK*D)_UPJ"\).QCA@=N M#(BMD`+'X3Y5<)HA/^(J(!421C*,+QUVU]'8BCBP?/QFT`T_NBGB('OP'P@ILH`:G& MKQH#<*,D@"-A_S(??`@4"N$#.TP6>$;")*:YCT$1V`H7L+"!V5K&P#.G!C%4 M])L,;7;;5@B`W;W'@Q_G21$-_#2/8;#*9SYA8:]S[M3N)9:V8+*3])Z"'[^3 MG$7G)*Q@AB>XM?[;\MYO6^*B?>39$C9` MBNC"KG)W:NJ"%0V02^/([-MDP]-" M@]#;=[P)$!V)&4#*K(XRJ"`BVM%" MD]5=)5IE[I\Q.[5<)FF:?`_CURM_`G_)/R0:8M*,!_A;JB7F,!%-:6%V"Q'V MJ^F3<$TU!6L&1$C01%I;4^0P$4UI88#8JKAN8^@1RW(^?=[&0YA3,W;-IO_7 M7G-DC8#X2!AC&Z\Z:I"(CK0R<\8\FJXZ4F3SAJ`X"(6$.;?._(#"03@V-A!2 MX!C7[](:$\!Y:\CY>JTW$ZPW`@(D81VV.A.(02):LN/'>FSES:H>MJ_#MS!@ M<<"Q:^F'3G40&@DC9`W-T(>'Z$03HZ2+1#I7R7@J*A2^8(#50N'W85[DDKLT=R"2HK@1@ MG9Y1+@#9Z5E3EQ03*E>@N1HE1>;'`:#@B0]RILJ`KU<;X#MU13+@2'2E;8"19#X4`?#H`OKY/6"R]8Q"6!ZDX=5^J321B:,8QDDC?8X?Y M_H2E93!="3>[*?@+A3/WZ8'_40KRNF"S&SB)2I@U!')TZOEB65?J@*>16&BG M6G0;P]+*'["0^4H9MP7B=&HA/8N]4E9Y&+&7^2RZ-^S-N"^38$DNK345:Q[\7F;3N6,[=&.>.4?TB MSW(_#D`8%^.DD![@5%5!2I3LMLV/]SIP;:7>VERN7#B(?/VK"/./I]2/,W_( M&Z?F&C+MH(;OQVI!X.K$U8A;1$>JGE1:+0A=)A'K)Q*D>,"(^O_#N&=T2<1I MB2C0\,+HXFF6"#-E[(71)9=EJ92\R@NCBX=%M6KK\13F$>N_W,(:^A8&A1\I M,AH(RWO='HD0)_5(TX#AUE%C2ZS^(\Q'#RPJ"0I40S4FBV!"$F$,$GX MU50('9Q$/4#BK(A@5ZQ(H+U>#B"1B"NJQ83P.K*;B:;;(Q%4I#]W M*Z"X]?*@D8.FVR,1&*1@2DPO!L>2X\96THXD\1M+\Y`G4#%/-R*O#.!)9(K" M:!',O`:X+/EDN)V.B^[+]4CK"/;`A%\[#^#*)L&"1,RQ+7?$;1 MQ&SK[2VZ6G7/OI=_JJT]BP9`8K1L>\VU9`V;K8>[J%@,!BFLI8"W!*MG)UBI M`E(A80$T9%R*QM:C7Q1'_.]^5+`&`WZU/LB+ED&PR7@702/TE%@#5>"J7>JY MC.]%(4!.P^!G1NI:_[?PRI@+_TIN]61_%=#TU[?21=66=R5R9[1T>=7ZLL2O MLDES0.&YRQN32D>5/IB"XE[WV'VL5R/1X[78FH>0W"=KL-LD,6A8>R.P>.[4AB(4M\!&0]-Z2`^86WFV^C/SAGP_^ MFRKQSGHYP.7TS*[-BKCCEMP<*=A_K^$8\E:^?7/Y<>_S$#.%HX:X`LB%QI%< MJ%^) MKY8#_"0<1S8H$3,GZ+LM1T3WL^7%=S\--#:V*^5`"#1\.@QG30&(O0;9&1$I5_`RCV1%,B4)C[L?*`D82]:GO\"8PF]U3$B8UC"<=5JM( MMN!F:..ULU$(4Q1,5L%89OQ$RP(V$I8R7.Z"-1@'@I#4RISCW_P_DI0O/%G_ MA;]@"^O/-"AJ&;>BF&PU6P#1D3"XF<[`1O`0S6B974Z-6#E7:[>DK#F20C6U`@=G(BN.'9,FUL0%`;9M6*`B(1-KA81@JV^$!Y" M6+O,;!=PQO!?&0]0S^7/^G<[EGZ M!$B=AA'/]&+0*GY$Z]KE&;<*3KENB(J#-$@8[.RR*]8@'#\2N=,N,U_IT>U' MO_I<4O-GBZ^*YW!XPYC:E4ZGNM<](V$&Q)D4,Z^/#=&$=F44M)S,^8R$4='8 M+UH.""&Z7>YXC7,ZG]&P%;9M#F0$`DK(,:=V"VC/E)$%XQM?Q1N$-;FOSN=/)-(%1`."8-@ MPU"7-3P(V>V,*>4';18'V:IN2[A&:H!H*%H#UZ@3TRV%A+#=+IO@*K`YW@=8 M#6%R&W*:7F5)3'2J@[1(6/_J*(`^/D0;'%O]RF='>0K,["J!666:L@JG55G' M.R+R)I8!EYJ@$`+;906\8UF6I!PL?SRTXHZV]A#M$TO'9?)*U>.6]1H$B5(\ ML6D-^2:($1W:E4U/-@G\'71_KOIEPCKI\-\H[1T120]>:^`C<)"<+$V,;BY2 MO8$.PJI4^J+&61*%`2Q/P:4?^?&0/8X8R[-!*=L1R\.A[^0QW<7YNO]R$\;0 ML1`.34D6*E+!F50'#3AS;NXR?7CWC(3I6U^\"D-7!=4/D]CMG,:\**!@E2RT M\S]`2K=SI[L15/*;!&UV>Q^>X[5\&W!.RV2,CCA-*/OP-&_C:X!S$E9A!5/Z MUP#GJ.FW7?Z`4]OWA>;%@$8M$`T)PR]&&C*"58#V(DSFG8>)>-Q$M==\#5J>[U#6L8N M+070!F8K/Y[[*:`"V6"AE]0"`=&XT*O+O!B0K>QZ!!E7+O!(#1`,+?-:/::K M8/8G#]\&3+UU758-1$3+]%:/[PU$ME+VN2?]8CB<^IZRX)I!YX?A[.VN2<1* MDN+@8IRD>?B?_BPB9<+2_(,G%YH'.$^X8"4*8NL3('I:-B`M9;*+?B\>$_X& M[TV&H\,H%%(V=<>-]&C7@OG#GUD6TCF1\;9 M:"&SK/\R(2VK6H6"30<58>?WWX.HUW%J^$(EOTG09K?WRH.HYMUTKT/+?(6. M,16&?7`6ZH<1')M^];,RU\(#>V.QT!U=6A[$0=5N41(EIE4"98_>HZPD.UBD M25#3+*D%$B+A-61&MA*0):\A"I0O%-M@."]E0?7@IS.25U!8$9T\=6L58]L>9YU=67CCQ M.2D8AW'()<+S$,UD)&%941,$1<(J4H=T+6C[Y-ZS*B*#;3B(@H1#3QV6Q5BL M^?,X/V4M-I[3*Y.[)),Q*R@-`FFC%0P#8LUIQSFS]TF\2R9[7P1$\GN>^5G M(^D5&%H+1$3"H&;&LA)0X[;\G^P\'4$N&8O0-T7/*]3_V4CL%`U(QBU`T)LH0VO!D1;3V>NZPG) MX!>^:-Y$R7.+O.KAL%TR-A%5&+%;G.%J#Y84)A M>B0,&B(*5LE"._\#A,+TG%HD4,EO$K39[?\-A0%A$4GDKQQC*@S[$`H#YRN^ M.`S2A)_!@\N/WV!S<1LO+L@OACFEHGR"#4_-#YO6'B(Y2+XH\ARKN=5K^.+6)I20[.FUZ/Q MEH0=>HU`6PJZH6"2YFFK^+,M\]3CW*65/T&49S=)^LC2MQ#.H_WT*O)#Z;IO MU`X00,(487=FJ"&"O8GJN<@REC_`$$FG)]#G*'R=LCD7K(U2U$31$7"KF=74[1`-PY1(J0?2Y@\!4+_926;GDZN0KT& M0'`D3(EVM<4$>^,`J%6E>7*_J5D M967;GP;&]NCPMENIV0KRHK#U`F&D_+W2:S;]_RW?;28%"!!$QF!1D%^$Z53W M>LC;=37>A.`X$U M#I`C/2?-9^*!_U%[M9O5A:%'PNF.UMPD%)*M3-5D-U%I`0A"_SF,2M&9JM5: M=1`:"8LY.DL9` MG"1L[5:\/90X;44.-EO2D"TW++Y3U]#I-<#,>QB]-D"WW*;MP`Z2Q'&M+JF" M370]$32.1R2TB9Y)`);WB^%?!2`N8ZKKO`-DV!)P0OE*QE";&@FA<5PD:7V: MY[J="\%(A=8K@\`H7\U8TQHQ[GT*I@1D0\:"[`9D.[V0V@"M._&8M01S.&5? MQKHJ5$<(MH(M*9S<-P4P3YS^QLH%79&I5%$9!$;"'K1MK1'CMA6O24)1UB?; MRR*#LP2@Y4F$I@%7L[](WS@W:`:$2,+DL^552RF!QN&F"3 MV;S;?[E+XMWEI0A4VT2$!O*SVG!PN<"U&IGF/!JH!P2%CZ[:J"'"VB"NVTZ%;. M=,LX)LVE0ET9!$;Y+%-7/31Q(XK2RA1V8LRKB=PNXF#Z"P9_+']CK#RJ!D&P ME"^JK2J4GBP0)6NE5_)RWD52!9IIF'EK(%+*]TR-ES-#02"ZU4JG9'V16CD[ M@P`IWSW5U"13_(@"M?"9C=(^&0?\?_Q>Y,V/^(@:L#1,@G4'-8D"F30#(B01 MJV-F=C%'B"A)*]_A4*3TG::Z/25AG#6G==ISA"YCL^JD5`GH19JW@+(6&D"7 M/4>+"X[XL# MP<;S.LR&49(5J8+PS-42,*UL;G;/F)E]M=6-"1K1J58B`" M$G9O.U0B"\D&7H3RQD_=NLBPS1.'9Z61;=&\BU3:_?35CV>O?R]S?4^SSU7[ MMKB*\*-E&G"-&#7-0OG2$LK><=T7AB2RUT\?#3 M`+=7@PN-T70QP-#.&%DN#%H!33AU-?PTNJDS&DV:`;@D;EZ-&1*/57/HEH:N MYB'];U]XM_D.H)3X_P!02P,$%`````@`4H%N10`L``00E#@``!#D!``#M M75MOXS86?B_0_\#Z83%]4!PG,],F.VF1R:4-D$R"V"VZ6"P*6J)MSDBDAZ0< M!XO][SVD)%NV1$JRLUDMH)<9B3SG\#OGXUVD\^'G912B!1&2S_VT,\_??O-A^\\#_U"&!%8D0"-G]$E5G@DL/]%9OIH<#`X M^`'IAR/O$U]X1X>#M^B?AT>G1^]/#]__"_W[X>X_Z&HX0AYZ>GHZ","",A8. M?!XAS]/E2']&(HP4%E.B/N&(R#GVR5EOIM3\M-_7>AK%9[(41/)8^,1H]W59 MAR?'&G]((L+4-1?1)9G@.%1GO:\Q#NF$DJ"'P&$F3PD3GYL8-5H;"D_'!UQ, M0>1PT/_C[G9H<&?F0\J^;$@OQR+,Y(_[.GN,),>#3,7G,5/B>=-'2?R#*5_TTTRM=KRE%@L!%=*FE^:6E!<06JX#&27B9.G/ MRN5U3HD"90LB5;E*DE?B#DE(#,!?%U3V"M7R=]+'S!0P((?.61Y3S$#"LNGJ_A?140SE@< ME1L)E.AKQ'T0\D"*".JO]*J54@7H4Q#Z@!GCT-E`)V7>=Z3Z MJ8A;=UU(4TT?AWX<6@M-U?H;G.1,[D76!6TD#7XX\XU'WA<$:( MD@EE->38LH-8D2FQU_^_/W@&%44#.B*."L2^:FDIO9 MXUV816\VBOB^8WHGIE=QE_>3^[F>CP(T5Y.U*+@9?EN/X;5MQ"=H;;WC=F]N M+["<78?\J2ZU:WDWL^]V858;1\9ZQVP5LQ^QI,#'0\[QA,*R##=7[_5\ATH_ MY#(6!%Z,"4U(WDA'214E0\7]+_?S7$^YD>(FX8=M$HPN2I6[X%<%_QI3\3L. M8W)'L(Z@Z502%LJSW'3\N$V'-H*,%90WTQ%31<31716ZQCE="QD>)F8;#-@M;U1J",M'87_>K98JN>1P$QB/S?[*DEW4W.\ M34UB`>5-='143H/CL21?8W#Z:K$>1@JI;BK>%J;#*WV4&.B(:+(>&>%Q2$I6 M)6FZFXQWSK4)>I,8Z;;:=ENDY*EQ";@Y*BSB+0N6CJW]5RYYQJJ$W*P55OV. M54S'W'[+F3QK+@$W8X6-@?*E34?63L/4,(XB+)[O)_G$2Z(P#8MCETO836)A M\V!K0$LMZRU0:7)XDO,]>I/8[VC=;:S['0NJV\6(7],E"1X$]8E>__``YMG# M)SR7I2TS7P/^"W:=E>6HL)EA'5DS%$AQ9'`@`P2MD"`#Q=)E=)7K!8;FBQF& MA;.\85:)CP!^,WA0VCS1U6W=Q7MO/'QSI6 M]]Z#K61X%T4WVX4]J8J=VX[^_>DO[N%6$M],Q4UY8>>K9$>XHWE_FK=WARM) M;J+@IKBP<5;8:>X(SAG4_^A+%8]D@LQMA5-]$/RL)VDT#_4M!Y,V$V1RUM/7 M/[SL=L>?X/3!,@HS$5V"X]Z$J1;;<4H+SDRD9]_=MRG`")\3H:!#[F?@>ZC_ M@HX!(TT=VR2QG6Z%>-S4+5`A87L]@@;0U*.M-O.R?B7M+7]'`M[R=RA,$KC% MA4*L]):6[;)13O,&1=SPX6,I@'?TF(-8^-@.1Z>T` MHOPJ5\WB,P5=[KNZ)3KO8ED*-H66*O9)J&26XJU--?+?<2_*!:A$+7WVUB9V M`E)VWZP.DKQ>]K(WEK([;+7`Y!57;_MR5+CN5@?*2LD\[0NA>!6N#H:U5O+H MK0WLA&+[?ET=#)F.?MB[_.VK=[4`9$KF:0<(Q6M\9K!A9*I/Q=?KN4(A-K1T M]W6BN\W!^[UAU.P\RM7:R`X(G5=:Z]243$<_[-!@W9+/T&>3Z69ONV MAY*9J;DC?@IIE$UO%(GTPJJ'<"IUUE,BUO-6(P4S1E&8T#/67 MI4Q6PAI5417KW%\$C^=9(13,)RMD/?7]LS;02D=W_,+6QE#L[4IEL&I\/6IC M8!K!M@3AD?B<^32D1OY^4L.F.2GQZG$(U.D,-(4?C\G-9D1V]^'E@@*K30-+ M_N\KR'[H+2&QZMY"VX2R]'+YW/\:0WZP&8*(PW0#NK*R($QP*!M&(9$=)Y>( MSWH^E$=5_>`T\Z.RYRCYRMC&GL()T^+DA8@#2'ZDX M#7B$*7M=OZS(;'21"8%U((P<)*)Q]!"KUKABAU:'E0L.I8K6../`9F6F.'#? M,](:CRKP-?!J],1;[54.7Q.O9H*TFZT-A`T\N^9Q>QI6%<`F?L%;N_W*`6S@ MUY`N6^U6#E\3K\B"L';[E4=8Z=D=5K&`5=L=S$)FYRSX!\%B?6$%V!KY+.K;B<+^GK[VT# M@P$%,!JXE<%2H$W=DY>&HA;P5@W1UB?%XT=]^C*4HR<^FO%88I@\LD!/P!1I MT3JR+M!]>IP6?8]IBM?J-I-QJ'"+)I1%2.[ADK.%/EBIQYI6#XY5.&L<,ZAQ MW+V-^P$-@5L"\3'$_I='W*:]JR(D>U5=4)]\Q)($YT]8!.V9HMJAV7C@+(;: M',UA!#5EM\85*S*+)U?1/.3/A+2'C`(BVX?SX',L3>]_:?X^0/)5'@8">`U) M@N'U/I<'9-SH:WD-\!:_;Y@O"-342Y+\#SWI'-/@:JDI)WHD',**5SR#)2ZI MDJ\9A::'!IK[8@G*`WXVGQ`G0Z)4F/U(L_U<1IN#TMP7V[#I^"L0+1HC:Z&T M=5]T.FOA)GDY+(L/M[KFSW@80+\-TR,@X`&6UGH>/UTM[;4C\R3UE3_?N-'5 MW,7Y?]N[V6W'QH3J5PA5%BGSVR@M'H5L@+5_'_K)&6+CZE]02P$"'@,4```` M"`!2@6Y%3OW.?UU/``"Z]`,`$0`8```````!````I($`````96YR:BTR,#$T M,#DS,"YX;6Q55`4``\QO9E1U>`L``00E#@``!#D!``!02P$"'@,4````"`!2 M@6Y%,0.KZ;4(``!?>P``%0`8```````!````I(&H3P``96YR:BTR,#$T,#DS M,%]C86PN>&UL550%``/,;V94=7@+``$$)0X```0Y`0``4$L!`AX#%`````@` M4H%N1>2>+XZP*```+H<"`!4`&````````0```*2!K%@``&5N`Q0````( M`%*!;D4")9%?LCP``."8`P`5`!@```````$```"D@:N!``!E;G)J+3(P,30P M.3,P7VQA8BYX;6Q55`4``\QO9E1U>`L``00E#@``!#D!``!02P$"'@,4```` M"`!2@6Y%Z(-&/D4L```]Y0(`%0`8```````!````I(&LO@``96YR:BTR,#$T M,#DS,%]P&UL550%``/,;V94=7@+``$$)0X```0Y`0``4$L!`AX#%``` M``@`4H%N10'-D550%``/,;V94=7@+``$$)0X```0Y`0``4$L%!@`````&``8` *&@(``#OV```````` ` end XML 44 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.8 Html 62 154 1 false 35 0 false 6 false false R1.htm 101 - Document - Document And Entity Information Sheet http://www.enerjexresources.com/role/DocumentAndEntityInformation Document And Entity Information true false R2.htm 102 - Statement - Condensed Consolidated Balance Sheets Sheet http://www.enerjexresources.com/role/CondensedConsolidatedBalanceSheets Condensed Consolidated Balance Sheets false false R3.htm 103 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Sheet http://www.enerjexresources.com/role/CondensedConsolidatedBalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Parenthetical) false false R4.htm 104 - Statement - Condensed Consolidated Statements of Operations Sheet http://www.enerjexresources.com/role/CondensedConsolidatedStatementsOfOperations Condensed Consolidated Statements of Operations false false R5.htm 105 - Statement - Condensed Consolidated Statements of Cash Flows Sheet http://www.enerjexresources.com/role/CondensedConsolidatedStatementsOfCashFlows Condensed Consolidated Statements of Cash Flows false false R6.htm 106 - Disclosure - Basis of Presentation Sheet http://www.enerjexresources.com/role/BasisOfPresentation Basis of Presentation false false R7.htm 107 - Disclosure - Stock Options Sheet http://www.enerjexresources.com/role/StockOptions Stock Options false false R8.htm 108 - Disclosure - Fair Value Measurements Sheet http://www.enerjexresources.com/role/FairValueMeasurements Fair Value Measurements false false R9.htm 109 - Disclosure - Asset Retirement Obligation Sheet http://www.enerjexresources.com/role/AssetRetirementObligation Asset Retirement Obligation false false R10.htm 110 - Disclosure - Derivative Instruments Sheet http://www.enerjexresources.com/role/DerivativeInstruments Derivative Instruments false false R11.htm 111 - Disclosure - Long-Term Debt Sheet http://www.enerjexresources.com/role/LongtermDebt Long-Term Debt false false R12.htm 112 - Disclosure - Commitments & Contingencies Sheet http://www.enerjexresources.com/role/CommitmentsContingencies Commitments & Contingencies false false R13.htm 113 - Disclosure - Equity Transactions Sheet http://www.enerjexresources.com/role/EquityTransactions Equity Transactions false false R14.htm 114 - Disclosure - Subsequent Events Sheet http://www.enerjexresources.com/role/SubsequentEvents Subsequent Events false false R15.htm 115 - Disclosure - Stock Options (Tables) Sheet http://www.enerjexresources.com/role/StockOptionsTables Stock Options (Tables) false false R16.htm 116 - Disclosure - Fair Value Measurements (Tables) Sheet http://www.enerjexresources.com/role/FairValueMeasurementsTables Fair Value Measurements (Tables) false false R17.htm 117 - Disclosure - Asset Retirement Obligation (Tables) Sheet http://www.enerjexresources.com/role/AssetRetirementObligationTables Asset Retirement Obligation (Tables) false false R18.htm 118 - Disclosure - Derivative Instruments (Tables) Sheet http://www.enerjexresources.com/role/DerivativeInstrumentsTables Derivative Instruments (Tables) false false R19.htm 119 - Disclosure - Stock Options (Summary of stock options) (Detail) Sheet http://www.enerjexresources.com/role/StockOptionsSummaryOfStockOptionsDetail Stock Options (Summary of stock options) (Detail) false false R20.htm 120 - Disclosure - Fair Value Measurements (Variable to Fixed Price Commodity Swaps Derivative Instruments) (Detail) Sheet http://www.enerjexresources.com/role/FairValueMeasurementsVariableToFixedPriceCommoditySwapsDerivativeInstrumentsDetail Fair Value Measurements (Variable to Fixed Price Commodity Swaps Derivative Instruments) (Detail) false false R21.htm 121 - Disclosure - Asset Retirement Obligation (Changes in Asset Retirement Obligations) (Detail) Sheet http://www.enerjexresources.com/role/AssetRetirementObligationChangesInAssetRetirementObligationsDetail Asset Retirement Obligation (Changes in Asset Retirement Obligations) (Detail) false false R22.htm 122 - Disclosure - Derivative Instruments (Derivative Contracts) (Detail) Sheet http://www.enerjexresources.com/role/DerivativeInstrumentsDerivativeContractsDetail Derivative Instruments (Derivative Contracts) (Detail) false false R23.htm 123 - Disclosure - Long-Term Debt - Additional Information (Detail) Sheet http://www.enerjexresources.com/role/LongtermDebtAdditionalInformationDetail Long-Term Debt - Additional Information (Detail) false false R24.htm 124 - Disclosure - Commitments & Contingencies - Additional Information (Detail) Sheet http://www.enerjexresources.com/role/CommitmentsContingenciesAdditionalInformationDetail Commitments & Contingencies - Additional Information (Detail) false false R25.htm 125 - Disclosure - Equity Transactions - Additional Information (Detail) Sheet http://www.enerjexresources.com/role/EquityTransactionsAdditionalInformationDetail Equity Transactions - Additional Information (Detail) false false R26.htm 126 - Disclosure - Subsequent Events - Additional Information (Detail) Sheet http://www.enerjexresources.com/role/SubsequentEventsAdditionalInformationDetail Subsequent Events - Additional Information (Detail) false false All Reports Book All Reports Element us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity had a mix of decimals attribute values: -6 0. Process Flow-Through: 102 - Statement - Condensed Consolidated Balance Sheets Process Flow-Through: 103 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Process Flow-Through: 104 - Statement - Condensed Consolidated Statements of Operations Process Flow-Through: 105 - Statement - Condensed Consolidated Statements of Cash Flows enrj-20140930.xml enrj-20140930.xsd enrj-20140930_cal.xml enrj-20140930_def.xml enrj-20140930_lab.xml enrj-20140930_pre.xml true true XML 45 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Variable to Fixed Price Commodity Swaps Derivative Instruments) (Detail) (USD $)
Sep. 30, 2014
Fair Value, Inputs, Level 1
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Crude oil contracts $ 0
Marketable Securities 0
Fair Value, Inputs, Level 2
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Crude oil contracts (240,131)
Marketable Securities 0
Fair Value, Inputs, Level 3
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Crude oil contracts 0
Marketable Securities $ 1,018,673