Re: More Good News+updates
in response to
by
posted on
Mar 01, 2010 08:55AM
(Edit this message through the "fast facts" section)
Yes. BCQEC. I think it's thisone:
For the Utica, the best estimate of prospective recoverable natural gas resources on
Questerre’s acreage is 17.99 Tcf (3 billion boe). This equates to 4.36 Tcf (726 million barrels
of oil equivalent “boe”) net to Questerre using a 10% recovery factor and does not include the
benefit of its gross overriding royalty. The effective range of recovery factors in the report is
from a low of 5% to a high of 23%. The 23% recovery factor resulted in a prospective
recoverable resource assignment of 13.78 Tcf (2.30 billion boe) net to Questerre.
Results include:
• Prospective Original Gas in Place ("OGIP") volumes for the Utica shale range between
102 Bcf - 220 Bcf per square mile with a best estimate of 158 Bcf per square mile.
• Total prospective OGIP volumes for Questerre's gross acreage are between a low
estimate of 117.07 Tcf to a high estimate of 252.18 Tcf with a best estimate of 181.33
Tcf
• Prospective resources estimated to be recoverable for Questerre's interest range from
1.33 Tcf at a 5% recovery to 13.78 Tcf at a 23% recovery with a best estimate of 4.36
Tcf at 10%.
The estimates do not include the gross overriding royalty held by Questerre nor an
assessment of the shallower Lorraine interval. There is no certainty that any portion of the
prospective resources will be discovered. If discovered, there is no certainty that it will be
commercially viable to produce any portion of the resources.
The Company also reported on the evaluation of its proven and probable reserves as at
December 31, 2009. The report was prepared in accordance with the COGE Handbook by
McDaniel & Associates with an effective date of December 31, 2009.
The report attributes proved and probable reserves of 1,982 mboe to the Company’s
conventional assets with a net present value, using a 10% discount rate, of $53.10 million.
Total proved reserves of 1,136 mboe were assigned with a NPV-10% of $30.70 million with
oil and liquids accounting for 65% of the reserves and 87% of the net present value. Probable
reserves assigned were 845 mboe with an NPV-10% of $22.30 million with oil and liquids
representing 79% of reserves and 92% of net present value. Summary tables are included
below.
In accordance with the requirements of National Instrument 51-101, Standards of Disclosure
for Oil and Gas Activities of the Canadian Securities Administrators, the Company anticipates
filing its Annual Information Form that includes more detailed disclosure and reports relating
to petroleum and natural gas activities for the 2009 fiscal year at the end of March 2010.
It's not all, the PDF is here: