GCA’s letter confirms that Tomahawk has established a good leasing position in what is currently a sought-after gas play, and identifies Proved gas reserves, net to Tomahawk’s interests as of the end of September 2005, of approximately 350 million cubic feet (MMcf) and Possible gas reserves of nearly a further 1 Billion cubic feet (Bcf).
In addition, GCA has estimated Contingent Resources net to Tomahawk to be in the order of 20 to 70 Bcf with a "best estimate" of 45 Bcf in the leases where Tomahawk has interests but where drilling has yet to take place.
THK Price at posting:
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