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PetroNeft Resources appoint Miller and Lents for independent reserves and resource audit directorstalkinterviews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from directorstalkinterviews.com Daily Mail and Mail on Sunday newspapers.
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Contingent resources are defined by the SPE-PRMS as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development projects not currently considered to be commercially recoverable due to one or more contingencies.
For the audit of oil and gas reserves as of 31 December 2020 in accordance with the SPE-PRMS standards forecast (in the range between US$37 and US$78 per barrel) and not constant prices for crude oil were used. In the Company s opinion, the use of forecast prices allows to evaluate commercially recoverable reserves for the purposes of implementation of Tatneft Group Strategy more accurately. The use of constant prices, especially based on the results of such crisis year as 2020 was, does not reflect the potential of development of the Company s oilfields considering the recovery of oil markets as well projected ....
Acquisition of a Further 15% Interest in the Biscathorpe Project PEDL253
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that it has agreed to acquire a further 15% economic interest in PEDL253 containing the Biscathorpe project ( Biscathorpe ) from Humber Oil & Gas Limited ( Humber ). Following completion of the acquisition Union Jack will hold a 45% interest in PEDL253.
Highlights ·PEDL253 is located within the proven hydrocarbon fairway of the Humber Basin, on-trend with the Keddington oilfield (Union Jack 55%) which produces oil from a Carboniferous Westphalian aged reservoir ·Union Jack will acquire a 15% interest in PEDL253, containing the Biscathorpe project, increasing its interest to 45% ....