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Gross Company Reserve Reconciliation for 2012 (1)
(Gross company interest reserves before deduction of royalties payable)
-------------------------------------------------------------------------------------------------------------------------------------------------------- 6:1 Oil Equivalent (mboe) Proved Plus Total Proved Probable Probable----------------------------------------------------------------------------December 31, 2011 - opening balance 32,167 23,644 55,811Additions and extensions 1,413 2,721 4,134Category transfers 731 (731) -Discoveries - 204 204Acquisitions 1,459 686 2,145Dispositions (4,364) (2,159) (6,522)Technical revisions 3,164 (1,488) 1,675Economic factors (1,157) (174) (1,332)Production (4,464) - (4,464)----------------------------------------------------------------------------December 31, 2012 - closing balance 28,949 22,703 51,652--------------------------------------------------------------------------------------------------------------------------------------------------------Note: (1) Columns may not add due to rounding.
Consolidated
Net Present Value ("NPV") Summary (before tax) as at December 31, 2012
(December 31, 2012, escalated price forecast)
Benchmark oil and NGL prices used are adjusted for quality of oil or NGL produced and for transportation costs. The calculated NPVs include a deduction for estimated future well abandonment but does not include a provision for interest, debt service charges and general and administrative expenses. It should not be assumed that the NPV estimated represents the fair market value of the reserves.
-------------------------------------------------------------------------------------------------------------------------------------------------------- Discounted Discounted Discounted Discounted($ thousands) Undiscounted at 5% at 10% at 15% at 20%----------------------------------------------------------------------------Proved producing 335,042 285,878 250,968 224,947 204,803Proved non- producing 99,764 80,735 67,458 57,718 50,289----------------------------------------------------------------------------Total proved developed 434,806 366,613 318,426 282,665 255,092Proved undeveloped 252,823 197,646 158,232 128,034 103,942----------------------------------------------------------------------------Total proved 687,630 564,259 476,657 410,699 359,034Probable additional 843,405 606,581 461,209 362,612 291,843----------------------------------------------------------------------------Total proved plus probable 1,531,035 1,170,840 937,867 773,311 650,877--------------------------------------------------------------------------------------------------------------------------------------------------------
