Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/oil/exploration/beach-energy-updates-its-reserves-and-resources-as.shtmlBeach Energy updates its reserves and resources as at 30 June 2013
Beach Energy Limited advises the following in relation to its reserves and resources as at 30 June 2013
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Beach Energy Limited advises the following in relation to its reserves and resources as at 30 June 2013:
• New categorization of 1P (Proved) and 3P (Proved, Probable and Possible) reserves; • 2P reserve replacement ratio of 100%, mainly due to: o 13% increase in oil reserves; o Minor downward revisions to gas reserves; and o FY13 production of 8.0 MMboe. • 2C contingent resources down 4% on the prior year, mainly due to: o Farm-out of 30% equity to Chevron in PEL 218; and o Revisions to booking guidelines in relation to the unconventional gas business in the Cooper Basin; partly offset by o Resource bookings for Halifax-1 (ATP 855) and Moonta-1 (PEL 218).
