b'the terms of our various license agreements, we are contractually obligated to drill wells and declareany discoveries in order to retain exploration and production rights. In the competitive market for ourlicense areas, failure to declare any discoveries and thereby establish development areas may result insubstantial license renewal costs or loss of our interests in the undeveloped parts of our license areas,which may include certain of our prospects.All of our proved reserves, oil production and cash flows from operations are currently associatedwith our licenses offshore Ghana, Equatorial Guinea, and U.S. Gulf of Mexico. Should any event occurwhich adversely affects such proved reserves, oil production and cash flows from these licenses,including, without limitation, any event resulting from the risks and uncertainties outlined in this RiskFactors section, our business, financial condition, results of operations, liquidity or ability to financeplanned capital expenditures may be materially and adversely affected.We may be required to take write-downs of the carrying values of our oil and natural gas assets as a result ofdecreases in oil and natural gas prices, and such decreases could result in reduced availability under ourcorporate revolver and commercial debt facility.We capitalize costs to acquire, find and develop our oil and natural gas properties under thesuccessful efforts accounting method. Under such method, we are required to perform impairment testson our assets periodically and whenever events or changes in circumstances warrant a review of ourassets. Based on specific market factors and circumstances at the time of prospective impairmentreviews, and the continuing evaluation of appraisal and development plans, production data, oil andnatural gas prices, economics and other factors, we may be required to write down the carrying value ofour oil and natural gas assets. A write-down constitutes a non-cash charge to earnings. As a result ofthe recent drop in oil and natural gas prices, we may incur future write-downs and charges shouldprices remain at low levels.In addition, our borrowing base under the commercial debt facility is subject to periodicredeterminations. We could be forced to repay a portion of our borrowings under the commercial debtfacility due to redeterminations of our borrowing base. Redeterminations may occur as a result of avariety of factors, including oil and natural gas commodity price assumptions, assumptions regardingfuture production from our oil and natural gas assets, operating costs and tax burdens or assumptionsconcerning our future holdings of proved reserves. If we are forced to do so, we may not havesufficient funds to make such repayments. If we do not have sufficient funds and are otherwise unableto negotiate renewals of our borrowings or arrange new financing, we may have to sell significantassets. Any such sale could have a material adverse effect on our business and financial results.We may not be able to commercialize our interests in any natural gas produced from our license areas.The development of the market for natural gas in our license areas is in its early stages. Currentlythe infrastructure to transport and process natural gas on commercial terms is limited and the expensesassociated with constructing such infrastructure ourselves may not be commercially viable given localprices currently paid for natural gas. Accordingly, there may be limited or no value derived from anynatural gas produced from our license areas.In Ghana, we currently produce associated gas from the Jubilee and TEN fields. A gas pipelinefrom the Jubilee Field has been constructed to transport such natural gas for processing and sale.However, we granted the Government of Ghana the first 200 Bcf of natural gas exported from theJubilee Field to shore at zero cost. Through December 31, 2018, the Jubilee partners have providedapproximately 99 Bcf from the Jubilee Field to Ghana. Thus, in Ghana, it is forecasted to be a fewyears before we are able to commercialize the Jubilee Field natural gas. We do not currently bookproved gas reserves associated with natural gas sales from the Jubilee Field in Ghana. However, weexpect to book gas reserves upon finalization and execution of a gas sales agreement for such Jubilee50'