"I was hoping for better fiscal results.  Producing more oil is good but you still need to make a proft"

...Palliser said this: Throughout 2012, Palliser shifted some capital from drilling and completing wells, to expanding salt water disposal infrastructure and land acquisition to build the Company's profitability and sustainability for years to come.

 -Exit 2012 production of 2600-2800 barrels.

-Increased netbacks.

-Lowered operating expenses.

-Increased funds flow considerably.

-Made strategic aquistitions in the quarter

Could the profit picture have been better? Sure, but I think this sets up really well for the future.