RFE series 2018-1 reds trust

reserve upgrade, page-4

  1. 7,311 Posts.
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    hi nazzy, gone a little deeper, 1 major concern to me, everything else seemed ok.

    i like to use % increase or decrease when looking at these figures, cant see anything like that in this announcement.

    start with 1P reserves

    osage 1P reserves- up 174.71%
    west tulsa 1P reserves- up 99.03%
    east ok 1P reserves- up infinite amount, 0 to 26.14 bcfe
    overall 1P reserves- up 256.56%

    all this looks great, why not relate it this way in the announcement??

    ok, 2P reserves, this is where i see a major flaw/discrepancy

    osage 2P reserves- up 2.28%
    west tulsa 2P reserves down 18.79% ???????
    east ok 2P reserves up 5500%
    overall 2P reserves up 96.62%

    what the hell, how has west tulsa gone backwards???


    next, 3P reserves

    osage 3P reserves - up 2.28%
    west tulsa 3P reserves- down 1.73%
    east ok 3P reserves - up 386.53%
    overall 3P reserves - up 85.52%

    as i said before, all the figures look ok bar West Tulsa.
    with the extra drilling at West Tulsa this year, i assumed our reserves would be better but they have gone backwards, a major question mark over this area.
    didnt the last drill suggest this site was going to be bigger??

    overall though, these figures are pretty good, i cant understand the sell off, although before the trading halt it appeared we had a major seller, not an accumulator, so please holders, tell me what is going on, i am baffled that we have gone backwards.
 
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