Green Dragon Gas is pleased to announce an increase in its estimated reserves as at 31 December 2014, as provided by independent reserve engineers Netherland Sewell & Associates, Inc.
•Net 1P reserves increase 17% to 147.8 Bcf (2013: 126.2 Bcf); 1P NPV 10* increase 63% to US$1.46bn (2013: US$ 897.9m)
•Net 2P reserves increase 12% to 426.8 Bcf (2013: 382.3 Bcf); 2P NPV 10 increase 53% to US$4.3bn (2013: US$ 2.8bn)
•Net 3P reserves decrease 4% to 2,289.9 Bcf (2013: 2,381.5 Bcf); 3P NPV 10 increase 31% to US$21.18bn (2013: US$ 16.12bn)
•9thconsecutive upgrade in 1P and 2P Reserve volumes and valuations**
Net present value of future revenues, at a discount rate of 10%
* Based on 9 consecutive Audited Reserve Updates released by Green Dragon Gas since 2006