The Company had promised to release an Economic Report by mid-Feb that would have detailed impairments that were necessary given the drop in the value of reserves/leases.
The only line in the reserves report that has any real value IMO is the "Proved Developed Producing" line at the top of the report. The PV10 value on this line has collapsed from $US87.1mil at Dec13 to $US45.5mil at Dec14 - it is also interesting to note that the Oil(Mbbls) on this line has decreased to 1,792 from 2,341 which is over a 23% decrease in just one year.
They are worrying figures and I still expect impairments when the Annual Report is released on 31Mar.
The Company had promised to release an Economic Report by...
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