Share Price Catalysts, page-1801

Hi mate

The BRK reserve in net terms is much larger in reality.

That is a 2 stream number ( no consideration of NGL in the gas composition which is ~ 80-100 barrels per 1 mmcfg).

It is a net number after royalties ( 20%) and after the Black Mesa back in of 25%… since then BRK have taken control of BM so net dilution is 12.5 %.

The resource number also excludes the addition of 320 acres in the added Rangers DSU which increased reserves by 13%, and the Bruins DSU added last week which added another ~ 17%.

I posted a work up of the reserves months ago which showed BRK reserves to be ~ 22-25 mmboe, ~ 30% oil, 30% NGL’s and 40 % shrunk gas. This is before the Bruins addition.

Cheers

Dan