1. Gas Well Deliquification Workshop
Denver, CO
February 27, 2006

2. Conversation Outline CHK: Past and Present Current Gas Market Thoughts
Gas Well Deliquification Workshop –
Conversation Outline
CHK: Past and Present
Current Gas Market Thoughts
Where to From Here?
Q & A

3. Gas Well Deliquification Workshop – 2-27-2006
CHK Overview
2nd largest independent producer of U.S. natural gas: (trail only DVN), #6 overall (including majors, utilities and pipelines)
#1 driller in U.S.: 76 operated rigs, 84 non-operated rigs, collector of ≈10% of all daily drilling info generated in the U.S.
Active consolidator in focused areas: $11.0 billion since ’98, $2.1 billion in ’04, $4.9 billion in ’05 and $0.7 billion YTD in ‘06
Increasing production profile: 1,284 mmcfe/day ’05 production - 29% YOY increase; 1,593 mmcfe/day projected ’06 production - 24% YOY increase; 1,709 mmcfe/day projected ’07 production – 7% YOY increase
Large proved reserve base: 7.8 tcfe of proved reserves at 12/31/05, 92% natural gas, 65% proved developed, 13.9 year R/P
#1 gas resource play: 8.8 tcfe of non-proved reserve potential in: i) conventional gas resource, ii) unconventional gas resource, iii) emerging gas resource and iv) Appalachian gas resource plays; >10-year drilling inventory of nearly 28,000 drillsites
Industry leading leasehold and seismic position: 8.4 mm net acres of U.S. onshore leasehold plus 11.6 mm acres of 3-D seismic
$19.8 billion EV: $13.6 billion equity value, $6.2 billion long-term debt
2006 estimates: ebitda $4.1 billion; operating cash flow $3.7 billion; net income to common $1.5 billion
CHK offers great value to investors: 3.6x operating cash flow, 4.9x ebitda, 9.1x P/E ratio
Top stock price performance: CHK up 23x in 12 years as a public company, #2 performer among large-cap E&P companies during that period; #1 since 1/1/1999
Data above incorporates:
CHK’s Outlook as of 2/23/06;
Pro forma adjustments for acquisitions announced on 1/17/06
An assumed common stock price of $31.00, NYMEX prices of $8.00/mcf and $50.00/bbl for 2006 and excludes effects of FAS 133 (unrealized hedging gain or loss) and charges incurred in connection with stock based compensation; and
Reconciliations of ebita and operating cash flow (before changes in assets and liabilities) to GAAP measures appear in slide 31
Pro forma adjustments for the debt financing of the acquisitions announced on 1/17/06 and the sale of PDC shares on 2/7/06

4. CHK: Strategically Built for Today’s Environment
Gas Well Deliquification Workshop –
CHK: Strategically Built for Today’s Environment
Over the last 7 years, CHK has been among the earliest to correctly recognize and quickly respond to opportunities and challenges in the E&P industry
Our proactive approach and strategic choices have enabled us to rapidly and profitably build one of the largest and lowest-risk U.S. gas resource bases
Industry Opportunity/Challenge
CHK’s Response(1)
Tightening gas supply/demand fundamentals and permanent upward shift in gas prices
Expanded our gas-focused proved reserve base over seven-fold to 7.8 tcfe through acquisitions and the drillbit
Declining industry prospectivity
Built the industry’s largest inventories of U.S. leasehold (8.4 net million acres) and 3-D seismic data (11.6 million acres)
Amassed > 10-year inventory of nearly 28,000 drillsites
Entered every major U.S. gas resource play outside of the Rockies
Rising risk/cost of offshore and international assets
Selectively built a very large and focused U.S. onshore asset base
Limited availability of experienced industry personnel
Expanded employee base seven-fold to over 3,300 today
Early to hire young people from colleges/other industries
Rising service costs and limited rig availability
Invested in three rig companies for financial hedge; made ≈$200 mm
Created wholly-owned subsidiary, NOMAC Drilling; now have 32 rigs on the way to 57 rigs by year-end 2006
Increasing oil & gas price volatility
Consistently locked in near-term acquisition margins and captured high operating margins through opportunistic hedging
Designed multiple hedging facilities that accommodate hedging ~1.5 tcfe of gas with minimal capital commitments
Since 1/1/99, CHK’s stock price performance is #1 in the industry (up 33-fold) and we are differentially positioned for strong, sustainable growth for years to come
Pro forma for the acquisitions announced on 1/17/06

5. CHK: Biggest Gas Resource Play in the U.S.
Gas Well Deliquification Workshop –
CHK: Biggest Gas Resource Play in the U.S.
Scale: 1 inch = 200 miles
Anadarko
Basin
Arkoma
Basin
Appalachian
Basin
Barnett
Shale
Ark-La-Tex
Permian
Basin
Scale: 1 inch = 115 miles
Texas Gulf Coast
South
Texas
Counties with CHK leasehold
Counties with CHK leasehold through CNR acquisition
Black Shale
Pro forma for the acquisition of CNR
CHK OKC headquarters
CNR Charleston headquarters
CHK/CNR field offices
CHK operated rigs (76)
CHK non-operated rigs (84)

6. CHK’s Successful Business Strategy
Gas Well Deliquification Workshop –
CHK’s Successful Business Strategy
Following operational failures and oil/gas price collapse in the late 1990s, CHK revamped its business strategy and for the past 7 years has executed a simple and highly effective business strategy:
Balanced growth through acquisitions and the drillbit
Focus on long-lived, low-decline, onshore US gas reserves that have become much more valuable over time
Rediscover the lost art of deep gas exploration through new investments in people, land and seismic in the right areas
Regional consolidation to generate operating scale, maintain low operating and administrative costs and deliver high returns
CHK’s scale in its core areas is a real competitive advantage and has created negotiating power, informational advantages and attracted top industry talent
Concentration on gas
One of the first companies to recognize and capitalize on tightening supply/demand fundamentals and permanent upward shift in gas prices that began in ’99
Today the #1 gas resource play in America: 8.4 mm net acres, nearly 28,000 drillsites, most active drilling program in the U.S.
CHK has benefited from substantial first mover advantages and has built the #1 U.S. natural gas resource base

7. CHK’s Business Strategy
Gas Well Deliquification Workshop –
CHK’s Business Strategy
Growth through acquisitions
Acquire, exploit, extend and explore
Growth through the drillbit
Onshore domestic U.S.
Regional consolidation
Prefer “PIMBY” areas to “NIMBY” areas
Gas, gas, gas
Onshore, in the U.S.A., lots of it

8. Keys To Being A Successful Acquirer
Gas Well Deliquification Workshop –
Keys To Being A Successful Acquirer
Focus
Know what you want to buy, where you want to buy it and how you want to buy it
Experience
Inexperienced or occasional buyers generally do not succeed. CHK has a consistent approach to acquiring and assimilating acquisitions. CHK is always in the market and has ≈ 50 people working full-time on acquisition integration
Operational Skill
Must be able to operate acquired properties more efficiently than sellers. Significant operating scale and attention to detail are the keys to achieving efficiencies
Drillbit Expertise
Must be able to accurately assess, accelerate and deliver upside from PUDs, probables, possibles and exploration opportunities
CHK has executed more acquisition transactions in the past seven years than any other E&P company – experience helps prevent mistakes!

9. Acquisition Margins Best Ever
Gas Well Deliquification Workshop –
Acquisition Margins Best Ever
7-year
CAGR
Average yearly gas price
Acquisition cost – per mcfe
21.1%
Net margin between cost and gas price
$6.16
$6.14
27.5%
$4.37
$3.78
$3.05
$3.00
12.2%
$1.79
$1.12
$1.56
Oil and gas price increases have far outpaced acquisition cost increases
Margins matter, not per mcfe sticker price

10. Why is CHK the #1 Driller in the U.S.?
Gas Well Deliquification Workshop –
Why is CHK the #1 Driller in the U.S.?
Most active driller in U.S. by a wide margin
76 operated rigs currently drilling (plus 84 non-operated rigs drilling)
CHK gathers ≈10% of all the daily drilling information generated in America
This is a distinct competitive advantage
1/4 of rigs drilling to targets > 15,000’; 1/2 between 10-15,000’; 1/4 < than 10,000’
Drill more deep onshore wells than anyone in the industry
Also one of the leading horizontal drillers in the industry
If properly executed, good drilling easily generates the highest returns on capital: 100%+ vs % acquisitions
However, creating value through the drillbit today is difficult
You had to start getting ready 5 years ago
Quality land, people and seismic are scarce resources
Over the past 7 years, CHK has invested over $3 billion to build the industry’s largest inventories of U.S. leasehold (8.4 mm net acres) and 3-D seismic (11.6 mm acres)(1)
First mover in acquiring the land, people and seismic to support future growth
Amassed > 10-year inventory of nearly 28,000 drill sites
Only company in the Barnett, Woodford, Caney, Fayetteville and Devonian Shale plays in the U.S.
CHK is uniquely positioned to transfer and apply technology, information and geoscience knowledge base across all operating regions
(1) Includes acquisitions announced on 1/17/06

11. Balanced Production Growth
Gas Well Deliquification Workshop –
Balanced Production Growth
1,418 mmcfe/day
2005 Q4 Average
Production
529 mmcfe/day acquisition
production growth
(48% of growth)
Total production has increased 1,099 mmcfe/day in 20 quarters, or 35% CAGR
570 mmcfe/day drillbit
production growth
(52% of growth)
23% CAGR through the drillbit
319 mmcfe/day
152 mmcfe/day drillbit production maintenance
20% initial base decline rate
167 mmcfe/day base production
10% current base decline rate
We believe CHK’s operating performance since January 2001 has been the best among the 20 largest E&P companies
During this time, our production has more than quadrupled, with over half of this growth coming from the drillbit
Through the drillbit only, CHK has created a top 20 U.S. gas producer from scratch in past 5 years

12. Large and Growing Gas Reserve Base
Gas Well Deliquification Workshop –
Large and Growing Gas Reserve Base
# Total proved and non-proved reserves (3P)(1)
16,558
Non-proved reserve potential
Proved undeveloped (PUD’s)
8,800
Proved developed (PD’s)
8,800
unproved
Bcfe
8,902
4,000
7,758
proved
3,169
2,205
1,780
1,206
1,355
CHK’s deep inventory of projects helps assure repeatable, low risk value creation
As of 12/31/05 and pro forma for acquisitions announced on 1/17/06

13. CHK: The #1 U.S. Gas Resource Play
Gas Well Deliquification Workshop –
CHK: The #1 U.S. Gas Resource Play
Net Acreage
(8.4 million acres)
Drillsites
(27,900 gross wells)
Positioned for strong sustainable growth
Over ten-year inventory of nearly 28,000 drillsites to develop 2.8 tcfe of proved undeveloped reserves and 8.8 tcfe of non-proved reserves
Conventional gas resource
Unconventional gas resource
Emerging gas resource
Appalachian gas resource
Proved Undeveloped
Reserves
(2.8 tcfe)
Non-Proved
Reserves
(8.8 tcfe)
Continue to actively expand all play types with ≈ 500,000 acres acquired in 4Q05 through aggressive land acquisition program utilizing >900 contract land brokers in the field
Most recently, CNR acquisition opens up multiple unconventional shale, tight sand and CBM plays in Appalachia
During the past 7 years, CHK has amassed the #1 U.S. gas resource play in the industry. We are in every important gas resource play in the U.S. east of the Rockies

14. Why Regionally Consolidate?
Gas Well Deliquification Workshop –
Why Regionally Consolidate?
Most E&P companies asset bases are too diversified, too spread out
Result is often operational mediocrity – sometimes incoherent corporate strategy and resulting investor unease about the future
CHK believes top-tier business success can only be achieved by being better at one thing than everyone else – for CHK, that’s onshore in the southwest U.S. and in the Appalachian Basin
Scale brings many benefits:
Negotiating power: CHK demands and receives best prices and best services from service industry
Information advantages: CHK receives > 50% of all drilling information generated in the Mid-Continent. There is tremendous value in this unique and sustainable competitive advantage
Attracting talent: The best geologists, engineers, and landmen want to work where the action is
Our strategy is clear, concise and consistent. What we do has worked, is working and should keep working for the foreseeable future
CHK’s operating areas are still very fragmented and in the years ahead likely to produce further consolidation opportunities

15. Why Has CHK Focused on Gas Since 1998?
Gas Well Deliquification Workshop –
Why Has CHK Focused on Gas Since 1998?
Our operating strategy failure in the mid-90’s taught us that:
Significant new reserves of U.S. natural gas would be more difficult to find
Finding costs would accelerate over time
Depletion rates would accelerate over time
Boom in gas fired power plants would cause a train wreck over time
We thought that supply/demand fundamentals would steadily improve
Demand trendline would be up 1-3% per year, supply trendline would be down 0-2% per year
In pricing: higher highs, higher lows – the trend would be our friend
Volatility is high and likely to increase. We love gas price volatility – why?
Weather has played a key role in remarkable recent volatility
Volatility creates opportunity to hedge unusually high prices that generate unusually high returns
Volatility reduces investment in the industry, which dampens supply
Volatility helps unlock the option value embedded in long-life reserves
This option value is a key “x” factor enhancing the value of long-lived assets and it comes free with acquisitions
LNG is a risk to be monitored
But, our view is that U.S. gas prices will need to approximate BTU parity with world oil prices to attract LNG imports in the 2009 and beyond time frame
Worldwide liquefaction capacity rather than U.S. regas capacity will be the bottleneck
U.S. natural gas production curve today is similar to U.S. oil production curve in the 1970’s: a peak, then a steady decline regardless of price increases and technology improvements

16. Including CNR, CHK is the 6th Largest U.S. Gas Producer
Gas Well Deliquification Workshop –
Including CNR, CHK is the 6th Largest U.S. Gas Producer
4Q ’05
vs. 4Q ‘04
% Change
4Q ‘05
vs. 3Q ‘05
% Change
Daily U.S. Natural Gas Production (A,B)
US Rigs
at 2/23/06
Company
Ticker
4Q ‘05
4Q ‘04
3Q ‘05
(C)
(D)
(D)
(E) 1. 2. 3. 4. 5. 6. 7. 8. 9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20. BP
ConocoPhillips/BR
Chevron
ExxonMobil
Devon (1)
Chesapeake (2)
EnCana (3)
Anadarko (4)
XTO (5)
Dominion
Shell
Kerr-McGee (6)
EOG (7)
Williams
Occidental
El Paso
Marathon
Apache (8)
Pioneer (9)
Newfield (10)
Total BP
COP
CVX
XOM
DVN
CHK
ECA
APC
XTO D RD
KMG
EOG
WMB
OXY EP
MRO
APA
PXD
NFX
2,359
2,257
1,638
1,620
1,458
1,286/1,396
1,154
1,114
1,102
932
919
883
749
629
572
559
549
514
450
429
21,173
2,651
2,130
1,618
1,810
1,620
1,002
1,007
1,306
916
1,013
1,302
1,041
666
560
499
593
568
637
546
585
22,070
2,456
2,170
1,676
1,614
1,485
1,183
1,099
1,098
1,087
935
948
937
724
629
564
559
562
586
460
509
21,281
11.0
6.0
1.2
10.5
10.0
28.3
14.6
14.7
20.3
8.0
29.4
15.2
12.5
12.3
5.8
3.3
19.3
17.7
26.6
4.1 ( )
3.9
4.0
2.3
0.4
1.8
8.7
5.0
1.5
1.4
0.3
3.1
5.8
3.5
0.0
2.2
12.4
15.6
0.5 ( ) 24 46 11 9 76 47 30 52 32 14 26 38 21 16 12 13 23
575 % %
(F) ( ) ( ) ( ) ( )
(G) ( ) ( ) ( ) ( ) ( ) ( ) ( )
(H)
(H) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ) ( ( ) ( )
The top 20 gas producers (with their royalty 20%) account for ≈50% of U.S. gas production, but only 37% of drilling activity
(A) Based on company reports
(B) In mmcf per day
(C) Independents in green, majors in black, pipelines in red
(D) CHK’s change calculated on reported 4Q ’05 gas production
(E) Source: Smith International Survey (operated rig count)
(F) Pro forma for the acquisition of Burlington
(G) CHK’s reported gas production in 4Q ’05 was 1,286 mmcf per day
- production of 1,399 mmcf per day is pro forma for the mid-quarter CNR acquisition and the acquisitions announced on 1/17/06
(H) WMB and EP 4Q ’05 production estimated at 3Q ’05 levels

17. Current Oil & Gas Market Thoughts
Gas Well Deliquification Workshop –
Current Oil & Gas Market Thoughts

18. Drivers of Future Oil and Gas Prices
Gas Well Deliquification Workshop –
Drivers of Future Oil and Gas Prices
Oil and natural gas is increasingly difficult and expensive to find, all across the globe – and we are consuming 31 billion bbls/year
World population growth will continue until at least 2050, increasing by approx. 50% – that’s 3 billion more energy consumers (10x current USA population)
50% of today’s population (mostly Asia) is rapidly industrializing, and rapidly expanding energy consumption
Average U.S. oil consumption per capita: 25.3 bbls/year 2003
Average Korean oil consumption per capita: 17.7 bbls/year 2003
Average Japanese oil consumption per capita: 15.6 bbls/year 2003
Average Chinese oil consumption per capita: 1.8 bbls/year 2003
Average Indian oil consumption per capita: 0.9 bbls/year 2003
When urbanized Chinese (40%) and Indians (30%) reach same per capita consumption as Japanese/Koreans average today, the world will consume 42% more oil than today – where will 35 million new bbls/day come from? How quickly will China and India get there?
The Great Debate: How close are we to a peak of worldwide crude production?

19. Drivers of Future Oil and Gas Prices, Part II
Gas Well Deliquification Workshop –
Drivers of Future Oil and Gas Prices, Part II
In addition to Asia, the U.S. and others will also continue to grow – remember, the U.S. adds the equivalent of a new Texas every 7-8 years in population and energy demand
Despite the obvious need for massive new resources of oil and natural gas, futures markets and most investors/analysts believe that lower oil and gas prices are inevitable
although this is changing before our eyes
Why so much denial of what appear to be easily visible trends?
Energy has not been expensive for 20 years (almost half of U.S. population has never known anything other than cheap energy)
It’s inconvenient to think about the implications of energy prices – every thing you own and do today is predicated on cheap energy
Policies favoring cheap energy and a pristine environment are often in conflict
Technology will save us – maybe, but much higher prices will be needed to drive the needed increases in energy technology investment
Bush’s inaugural “Freedom from Tyranny” policy is bullish for energy prices
If he’s right, strong demand increases will overwhelm supply increases
If he’s wrong, supply will be at risk for a long time
Hurricanes Katrina and Rita demonstrate the folly of putting too many of our energy infrastructure eggs in one (very fragile) basket
And finally, when will peace, love and harmony break out in oil producing regions of the world?

20. Gas Well Deliquification Workshop – 2-27-2006
Where to
From Here?

21. Ten Questions to Ponder
Gas Well Deliquification Workshop –
Ten Questions to Ponder
Can LNG gas supply accretion (from a 2.5 bcf/day base in ‘05) overcome continuing U.S./Canada gas supply depletion (from a 70 bcf/day current base)?
Will all (or enough) spot cargoes of LNG come to the U.S. and at what price?
Will LNG importers have financial motivation to undercut U.S. gas prices at the moment of importation?
When will we build gas pipeline from McKenzie Delta Alaska? How much of the McKenzie gas gets past Canadian oil sands projects? Should Alaska gas be liquefied instead?
What happens if energy demand in India and China (40% of the world’s population) increases by 35 million bbls/day in next 15 years?
How will U.S. resolve its public policy conflicts between cheap energy vs. a pristine environment?
Will world oil production peak? When? ’06, ’10, ’15? Ever?
After an oil production peak, how much stranded gas becomes converted to liquids rather than to LNG?
How high do oil/natural gas prices have to rise to cut short economic growth?
How will Iraq and Iran play out and what happens if (or when?) House of Saud falls?
At what prices for oil and gas are you willing to change your consumption habits?

22. Gas Well Deliquification Workshop – 2-27-2006
Your Q&A

23. Corporate Information
Gas Well Deliquification Workshop –
Corporate Information
Chesapeake Headquarters
6100 N. Western Avenue
Oklahoma City, OK
Web site:
Contacts:
Jim C. Johnson
President
Chesapeake Energy Marketing, Inc.
(405)
Jeff Fisher
Senior Vice President
Production
(405)
Human Resources
Common Stock – NYSE: CHK
Other Publicly Traded Securities CUSIP Ticker
6.0% Convertible Preferred Stock # CHKPrA
5.0% Convertible Preferred Stock (2003 Series) # CHKPrB
4.125% Convertible Preferred Stock # n/a
5.0% Convertible Preferred Stock (2005 Series) # n/a
4.5% Convertible Preferred Stock # CHK PrD
5.0% Convertible Preferred Stock (2005 B Series) # n/a
7.5% Senior Notes Due #165167BC0 CHK13
7.5% Senior Notes Due #165167BF3 CHK14
7.0% Senior Notes Due #165167BJ5 CHKA14
7.75% Senior Notes Due #165167BA4 CHK15
6.875% Senior Notes Due #165167BE6 CHK16
6.375% Senior Notes Due #165167BL0 CHKJ15
6.625% Senior Notes Due #165167BN6 CHKJ16
6.50% Senior Notes Due #165167BR7 n/a
6.25% Senior Notes Due #165167BQ9 CHK18
6.875% Senior Notes Due #165167BT3 n/a
2.75% Contingent Convertible Senior Notes Due 2035 #165167BV8 n/a

24. Certain Reserve & Production Information
Gas Well Deliquification Workshop –
Certain Reserve & Production Information
The Securities and Exchange Commission has generally permitted oil and gas companies, in their filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use the terms “probable,” “possible” and “non-proved” reserves, reserve “potential” or “upside” or other descriptions of volumes of reserves potentially recoverable through additional drilling or recovery techniques that the SEC’s guidelines may prohibit us from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and accordingly are subject to substantially greater risk of being actually realized by the company.
Our production forecasts are dependent upon many assumptions, including estimates of production decline rates from existing wells and the outcome of future drilling activity. Also, our internal estimates of reserves, particularly those in our recent acquisitions where we may have limited review of data or experience with the properties, may be subject to revision and may be different from those estimates by our external reservoir engineers at year-end. Although we believe the expectations, estimates and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions and data or by known or unknown risks and uncertainties.

25. Forward-Looking Statements
Gas Well Deliquification Workshop –
Forward-Looking Statements
This report includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of Forward-looking statements give our current expectations or forecasts of future events. They include estimates of oil and gas reserves, expected oil and gas production and future expenses, projections of future oil and gas prices, planned capital expenditures for drilling, leasehold acquisitions and seismic data, and statements concerning anticipated cash flow and liquidity, our business strategy and other plans and objectives for future operations, including our planned common stock offering. In addition, statements concerning the fair value of derivative contracts and their estimated contribution to our future results of operations are based upon market information as of a specific date. These market prices are subject to significant volatility.
Although we believe the expectations and forecasts reflected in these and other forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” beginning on page S-12 of the Prospectus Supplement dated December 8, 2005 we filed with the Securities and Exchange Commission on December 8, They include the volatility of oil and gas prices, adverse effects our substantial indebtedness and preferred stock obligations could have on our operations and future growth and on our ability to make debt service and preferred stock dividend payments as they become due, our ability to compete effectively against strong independent oil and gas companies and majors, the availability of capital on an economic basis to fund reserve replacement costs, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and the timing of development expenditures, our ability to replace reserves and sustain production, uncertainties in evaluating oil and gas reserves of acquired properties and associated potential liabilities, unsuccessful exploration and development drilling, declines in the values of our oil and gas properties resulting in ceiling test write-downs, lower prices realized on oil and gas sales and collateral required to secure hedging liabilities resulting from our commodity price risk management activities, drilling and operating risks, and the loss of key personnel.
We caution you not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation, and we undertake no obligation to update this information. We urge you to carefully review and consider the disclosures made in this presentation and our filings with the Securities and Exchange Commission that attempt to advise interested parties of the risks and factors that may affect our business.