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.
• 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).