The company posted a $234 millionprofit for the year, down from a profit of $252 million in 2012.

Hitting the company's bottom line was arise in the cost of sales from $742.4 million in 2012 to more than $1billion last year.

This offset a rise in revenue whichgrew to $1.5 billion, compared to $1.4 billion a year earlier.

Helping boost revenue last year was anincrease in production to an average of 58,200 barrels of oilequivalent per day, up from 57,700 boepd in 2012.

The