$2.46 / sh EXALL ENERGY CORPORATION ANNOUNCES DECEMBER 31, 2011 THIRD PARTY RESERVES ASSESSMENT
Exall Energy Corp. has released the results of its independent third party NI 51-101-compliant reserves assessment. Exall's public filings can all be found at the company's website or SEDAR.
Highlights:
Proved plus probable net present value per share of $2.46 (Before Tax, discounted at 10%) based on 68.1 million fully diluted shares
Company working interest reserves are 2,048.3 Mboe total proved and 4,574.5 Mboe proved plus probable, a 41% increase from 2010
The net present value of the proved plus probable reserves increased 65% from 2010 to $167.1 million, discounted at 10 percent, forecast prices, before tax
Reserve life index of 4.9 years total proved and 11.0 years proved plus probable based on the 2011 annual average production rate and year-end reserves
3D Seismic drilling success promts January 31, 2012 reserves update