Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/indus-gas-reports-significant-increase-in-reserves.shtmlIndus Gas reports significant increase in reserves and resources
Indus Gas Limited announces a significant increase in its reserves and resources following an updated Competent Persons Report (CPR). The
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Indus Gas Limited announces a significant increase in its reserves and resources following an updated Competent Persons Report (CPR). The CPR was provided by Senergy Oil & Gas.
CPR Highlights:
• Gross 'Proven plus Probable' remaining reserves increased to 872 Bcf (Net of 18 bcf already produced as of 30 September 2014) ◦ 52% increase from 573 bcf assigned in previous CPR by Senergy in 2012 ◦ Proven reserves increased to 423 Bcf as against 118 bcf assigned in previous CPR by Senergy in 2012 ◦ New reserves largely attributed to new sands (lower P10) within SGL field and SSM fields ◦ Discounted cash flows at 10% IRR (NPV10) in respect of "Proven plus Probable" reserves of 872 Bcf estimated to be US$ 2,309mn (before capital expenses) and US$ 1,785mn (Net of capital expenses).
