Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/exillon-energy-issues-reserves-update.shtmlExillon Energy issues reserves update
Exillon Energy issues its updated reserves report prepared by Miller
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Exillon Energy issues its updated reserves report prepared by Miller & Lents, Houston.
• Total proved (1P) reserves increased by 56% to 196 million barrels • Total proved plus probable (2P) reserves increased by 96% to 520 million barrels • Total proved plus probable plus possible (3P) reserves increased by 121% to 882 million barrels
Mark Martin, Exillon's CEO said,"The three components of our growth strategy are to increase our production, EBITDA and reserves. Our production during 2012 grew by 45%, our EBITDA by 137% and our 2P reserves by 96%.
Our target was to double our 2P reserves within three years. We have done this in one year.
