Reserves

As per 1 June 2016, the proved oil reserves amounted to 12,528 thousand barrels of oil (MBL) and the proved Natural Gas Liquids (NGL) reserves amounted to 62,006 million cubic feet (MMCF). The total reserves amounted to 22,862 thousand barrels of oil equivalent (MBOE).

CategoryOilNGLTotalPV10*
Total, Proved reserves12,52862,00622,862149,810
(MBL)(MMCF)(MBOE)(TUSD)
Proved developed produced1,1526,5582,24521,965
Proved developed nonproducing2,74119,9816,07147,764
Proved undeveloped8,63535,46714,54680,081

All estimates of reserves have been sourced from the Appraisal report prepared by PeTech Enterprises, Inc. (“PET”) in accordance with the United States Securities And Exchange Commission (“SEC”) guidelines.

* PeTech Enterprises, Inc as of June 1,2016 (SEC standards, WTI flat forecast of $2.28/MMBtu and $40.56/Bbl)