substantial crux upgrade

Hydrocarbon reserves in Nexus Energy Limited’s (“Nexus”) Crux field in the Browse basin have been increased substantially following the highly successful drilling of the Crux-3 and Crux-4 appraisal wells.
Reserves in the Crux field, in exploration permit AC/P23, off the north west coast of Western Australia, have been increased as follows:
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The Proved plus Probable plus Possible estimate (P10) reserves for the Crux field has increased from 78.3 million barrels (MMstb) to 83.1 MMstb, an increase of 6.1%.
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The Proved plus Probable estimate (P50) reserves for the Crux field has increased by 12.5% from 66.3 million barrels to 74.6 MMstb.
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The Proved reserves estimate (P90) for the Crux field has increased from 54.9 MMstb of condensate liquids to 67.0 MMstb, an increase of 22%.
The Crux development area includes that part of the Crux field defined by the existing appraisal wells within AC/P23. It is this area that Nexus and its partner Osaka Gas, plan to develop via the Crux liquids project (the red shaded area in the map below).
The table below details the increase in reserves from the previous Nexus estimate announced in October 2007 prior to the drilling of the Crux-3 and Crux-4 wells. Both wells were retained as future Crux liquids project development wells.
CRUX FIELD (100%) LIQUIDS VOLUME
Nexus Share 85%
Confidence Level
Proved
P90