Ann: CI - 202 - Competent Persons Report , page-2

Excert from the ann below. Some fairly grunty numbers here!!
Using the lowest (Contingent Mean Oil and Gas Resources) of 80mmbbls oil at $10 and 224bcf gas at $3m/bcf inground a net risked value is approaching $1.5b!! RIA cap post raising will be about $85m. These numbers could be doubled using different valn methods. Explains the interest today!! DYOR


Contingent Total Mean in-place Oil volumes is 250 MMBLS & Contingent Total Mean
Contingent Oil Resources of 80 MMBLS
Contingent Total Mean in-place Gas volumes is 218 BCF & Contingent Total Mean
Gas Resources of 224 BCF (includes associated gas)
Prospective Total Mean in-place Oil volumes is 409 MMBLS & Prospective Total
Mean Resources Oil of 140 MMBLS
Prospective Total Mean in-place Gas volumes is 760 BCF & Prospective Total Mean
Gas Resources of 669 BCF (includes associated gas)
Four significant under-appraised or un-appraised oil and gas discoveries are present.
Five low risk exploration prospects are present.
The