Post by
nozzpack on Mar 28, 2022 11:23am
2P Reserves Update
The last RK reserves update was in Dec 2016 .
At that time, the RK field was not producing.
Only very modest amounts were removed in the second half of 2021 when the RK field resumed production.
At December 31/16, RK 2P reserves, excluding Proved Producting was valued NPV 10 After Tax at $12.33 million US.
To this we can now add $2.5 million for Proved Producing which brings current reserves value at about $15 million US.
The 2016 Reserves assumed a gas price of $6.43 per MMcf .
I assume that the reserve gas price will increase to a level above $6.43 in the 2022 Reserve update normally provided on April 1 but cannot predict .
Perhaps $11.33 reference price might be a good guess.