Sentry Petroleum Ltd. has engaged Resource Investment Strategy Consultants (RISC), a leading independent petroleum-engineering firm. With offices in London and Australia, RISC's services cover the entire range of the oil and gas business lifecycle in conventional petroleum, coal seam gas and tight gas properties. As part of RISC's strategic alliance with international audit and advisory firm KPMG, RISC provides services tailored to the needs of both the upstream and downstream sectors of the oil and gas industry including independent asset valuations.

Sentry Petroleum President and CEO Dr. Rajeswaran commented, 'RISC has represented over 500 energy companies in 68 countries and is perfectly suited to assess our oil and gas assets. They are leaders in their field and have worked with many firms including CNOOC, the Chinese National Offshore Oil Company. They provided technical and commercial due diligence and reserves report enabling CNOOC to attain government project approval in Queensland Australia which led to an LNG sales Contract with BG Group valued at A$50 billion.'

A Sentry spokesperson advised that the scope of RISC's independent review would include among other things confirming reasonableness of the resource estimates of oil and gas volumetrics and indicative prospect economics on representative sample of key leads and prospects, estimate EMV and dollars per barrel and dollars per Mcf of gas unit values. The evaluation is expected to be completed in the first quarter of 2011 with Sentry's 2011 appraisal drilling campaign to commence thereafter in March.

Dr. Rajeswaran concluded, 'RISC will provide a technical assessment of our oil and gas assets with particular emphasis on ATP 865 and the three drill ready oil and gas prospects and twelve leads delineated to date.'

Tags: Sentry Petroleum Ltd.