BlackPearl Resources Inc. announces the results of its 2014 year-end oil and gas reserves evaluation, contingent resource evaluation and to provide fourth quarter and annual oil and gas production data.
•Proved reserves of 66 million barrels of oil equivalent; an increase of 4% year over year;
•Total proved plus probable reserves of 297 million barrels of oil equivalent; we replaced 277% of our 2014 production;
•Net present value, before tax, discounted at 10% (BTNPV10), of our proved reserves increased 34% to $982 million and the NPV10 of our proved plus probable reserves increased 22% to $2.7 billion;
•A total of 616 million barrels of contingent resources (best estimate) assigned to our 3 core properties with a BTNPV10 of $2.0 billion;
•Our largest property is the Blackrod SAGD project with proved plus probable reserves of 181 million barrels and best estimate contingent resources of 566 million barrels of oil, with potential production reaching 80,000 barrels of oil per day;