It is right in the press Release; but GMXR didn't calculated it for you:
"•As detailed below, non-GAAP net income available to common shareholders per share was $(0.06) "
What wasn't highlighted was: " 2010 non-GAAP EPS was impacted by additional DD&A recognized in fourth quarter of 2010 due to previously announced revisions of Cotton Valley estimated proved reserves. DD&A for our oil and natural gas properties was $2.25 per Mcfe and $1.88 per Mcfe for the three months and year ended December 31, 2010 compared to $1.77 per Mcfe and $1.76 per Mcfe for the respective periods in 2009."
Note that the DD&A expense was $2.25 per MCFE for the 4th Quarter because GMXR wrote off the Cotton Valley Reserves. Note if you took the Year to date $1.88 per MCF X 4 Quarters= $7,52- $2.25 = $5.27 / 3 quarters = $1.76 per MCFE for the 1st Three Quarter.
The 4th quarter took a hit from the Reserve writedown. $2.25 - $1.76 = $0.49 per MCFE.
Production for the 4th Quarter was(in the Press Release) 5,314,000 MCFE X $0.49 = $2.603,860 Higher DD&A because of writedown.
I have been asking the same question about quick reversal of impairment charges when NG prices rise. However, from date of impairment, the company is irreparably damaged as its only recourse is to reduce future dD&A. Financial firms who take impairment / allowances against loans for possible uncollectibility can reverse those impairments / reserves when their picture brightens. Financial firms are doing much of that now to bolster our economic recovery. Balance sheets of full cost accounting oil / gas firms are permanently damaged so that only PV10 means anything from that point forward. Balance sheet never has meaning as not all firms are full cost so there can be no reasonable comparison as to future values.