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Post by
dogger2on Feb 09, 2012 5:50pm
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Post# 19512373
RESERVES
RESERVES
Mr. Tony van Winkoop reports
ARSENAL ENERGY INC. RELEASES YEAREND RESERVES
AJM Deloitte has evaluated Arsenal Energy Inc.'s reserves as at Dec. 31, 2011, in accordance with National Instrument 51-101. The information that follows has been derived from that evaluation.
More detailed reserve information will be included in Arsenal's annual information form for the year ended Dec. 31, 2011, which will be filed on SEDAR on or before March 30, 2012.
Highlights:
- Year/year proved plus probable reserves increase by 50 per cent;
- Year/year proved reserves increase by 38 per cent;
- Year/year net present value of proved plus probable reserves, before income tax and discounted at 10 per cent, increase by 47 per cent;
- Arsenal's net asset value increases to $1.60 per share;
- Oil and natural gas liquids at Dec. 31, 2011, constitute 80 per cent of proved plus probable reserves;