CALGARY, ALBERTA -- (Marketwire) -- 03/14/13 -- Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE: DEI) reports the results of its December 31, 2012 Reserves Assessment and Evaluation of certain of its Alberta oil and gas properties, as evaluated by GLJ Petroleum Consultants ("GLJ") in accordance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101").
A summary of the Company's reserves volumes according to reserve category as at December 31, 2012 is as provided in the following table. Unless otherwise stated, the reserves information included in this release is stated on a "company interest" basis, which represents Donnybrook's working interest (operated and non-operated) share of remaining reserves before deduction of royalties and including any royalty interests. Numbers presented in table may not add exactly due to rounding.
Light and Natural Gas Total Oil Medium Oil Natural Gas Liquids EquivalentReserves Category (Mbbl) (MMcf) (Mbbl) (Mbbl)----------------------------------------------------------------------------Proved Producing 8 1,057 19 203 Non-Producing 0 0 0 0 Undeveloped 208 9,412 89 1,866Total Proved 216 10,470 109 2,069Probable 434 21,457 280 4,290Total Proved plus Probable 650 31,926 389 6,359
A summary of the Company's estimated future net revenues associated with Donnybrook's reserves as at December 31, 2012 based on the GLJ December 31, 2012 price forecast is provided in the following table. It should not be assumed that the net present values estimated by GLJ represent the fair market value of the reserves. Numbers presented in table may not add exactly due to rounding.
Before Income Taxes Discounted at (%/year) 0% 5% 10% 15% 20%Reserves Category (M$) (M$) (M$) (M$) (M$)----------------------------------------------------------------------------Proved Producing 3,383 2,885 2,526 2,256 2,047 Non-Producing 0 0 0 0 0 Undeveloped 31,679 20,943 14,559 10,476 7,718Total Proved 35,062 23,828 17,085 12,732 9,765Probable 79,856 48,990 33,021 23,521 17,319Total Proved plus Probable 114,918 72,818 50,106 36,253 27,085
Relevant portions of the GLJ December 31, 2012 price forecast used in the Company's evaluation are as follows:
Pentanes Natural Gas Light Crude Oil Plus --------------------- --------------- -------- AECO Gas Henry Hub Price WTI Edmonton Edmonton Inflation Exchange ($U.S./ ($CDN/ ($US/ ($CDN/ ($CDN/ Rates RateYear MMBtu) MMBtu) bbl) bbl) bbl) (%/year) ($US/$CDN)-------- --------------------- --------------- -----------------------------Forecast--------2013 3.75 3.38 90.00 85.00 96.63 2.0 1.002014 4.17 3.83 92.50 91.50 97.91 2.0 1.002015 4.57 4.28 95.00 94.00 97.76 2.0 1.002016 4.95 4.72 97.50 96.50 100.36 2.0 1.002017 5.08 4.95 97.50 96.50 100.36 2.0 1.002018 5.25 5.22 97.50 96.50 100.36 2.0 1.002019 5.25 5.32 98.54 97.54 101.44 2.0 1.002020 5.25 5.43 100.51 99.51 103.49 2.0 1.002021 5.25 5.54 102.52 101.52 105.58 2.0 1.002022 5.25 5.64 104.57 103.57 107.71 2.0 1.00Further information relating to Donnybrook is also available on its websiteat www.donnybrookenergy.ca.
