Arrow Exploration Corp.: Arrow Exploration Announces Filing of 2020 Year-End Audited Financial Statements, MD&A, and Reserve Report
(1) (0.02) (0.12) 68,674,602 68,674,602
(2)
Natural gas (Mcf/d)
5
(2
2020 Year-End Reserves
Arrow has also filed, on SEDAR, the Company s Statement of Reserves Data and Other Oil and Gas Information, Report on Reserves Data by Independent Qualified Reserves Evaluator, and Report of Management and Directors on Oil and Gas Disclosure for the year ended December 31, 2020, as required by section 2.1 of National Instrument 51-101 -
Standards of Disclosure for Oil and Gas Activities (together, the Reserve Report ).
To recap, the Company s Year-End 2020 Company Gross Reserves Highlights include:
2,930 Mboe of Proved Reserves ( 1P Reserves );
Altura Announces Fourth Quarter and Year End 2020 Results and Reserves April 16, 2021 EnergyNow Media
CALGARY, AB, April 15, 2021 /CNW/ – Altura Energy Inc. (“Altura” or the “Company”) (TSXV: ATU) is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2020 and the independent evaluation of the Company’s oil and natural gas reserves (the “McDaniel Report”), effective December 31, 2020, as prepared by McDaniel and Associates Consultants Ltd. (“McDaniel”). The audited consolidated financial statements and related management’s discussion and analysis (“MD&A”) for the year ended December 31, 2020 are available on SEDAR at www.sedar.com and on Altura’s website at www.alturaenergy.ca. Selected financial and operating information for the fourth quarter and year ended December 31, 2020 appear below and should be read in conjunction with the related financial statements
Tamarack Valley Energy Ltd Announces Fourth Quarter and Year End 2020 Financial Results and Reserves Highlights yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Forward-Looking Statements. Certain information included in this press release constitutes forward-looking information under applicable securities legislation. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project” or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking information in this press release may include but is not limited to: Razor’s business strategy, objectives, strength and focus; the ability of the Company to achieve drilling success consistent with management’s expectations; and future development costs associated with oil and gas reserves. Statements relating to “reserves” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated a
) costs of $4.78/boe, including technical revisions.
During 2020, the downturn in commodity prices necessitated suspension of capital development so there were no material reserves added from drilling.
Year-end 2020 estimated net present values of future net revenue before tax discounted at 10% (“NPV
10 BT”) for PDP, 1P and 2P reserves totaled $54.7 million, $107.4 million and $218.0 million, respectively.
Approximately 100% of PPR’s total estimated abandonment and reclamation obligations (ARO) is included in the 2020 reserves evaluation (2019 – approximately 79%).
Reserve life index
(1) was 4.7 years, 10.5 years and 16.0 years on a PDP, 1P and 2P basis, respectively.
Notes:
(1)
Finding & Development Costs and “Reserve Life Index” does not have a standardized meaning. See Cautionary Statements – Disclosure of Oil and Gas Reserves Data and Operational Information and Cautionary Statements – Reserve Life Index below