EX-99.1 18 nbh-ex99_1.htm REPORT OF INDEPENDENT PETROLEUM ENGINEERS.

 

 

Exhibit 99.1 

 

 

 

 

 

 

March 21, 2024

 

Mr. Roger Wurtele

 

Next Bridge Hydrocarbons Inc.

 

5700 W. Plano Parkway #3600

 

Plano, TX 75093

 

Dear Mr. Wurtele,

 

At your request PeTech Enterprises, Inc. ("PEI") has prepared an estimate of certain hydrocarbon reserves owned by Torchlight Energy Resources, Inc. ("TER") in the Hazel Project in the State of Texas as of January 1, 2024. This evaluation was completed by March 13, 2024.

 

These e stimates include only Proved and Producing reserves and were prepared following the United States Securities and Exchange Commission ("SEC") guidelines rule 4-10 Regulation S-X for evaluating and reporting oil and gas reserves. Rule 4-10 defines reserves as "... those quantities of oil and gas, which by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods, and government regulations before the time at which contracts providing the right to operate expire, unless evidence indicates that renewal is reasonably certain, regardless of whether deterministic or probabilistic methods are used for estimation.

 

Reserves which can be produced through the application of improved recovery techniques Existing economic conditions include prices and costs at which economic producibility from a reservoir is to be determined. The price shall be the average price during the 12 months before the ending date of the period covered by the report, determined as an unweighted arithmetic average of the first day-of-the-month price for each month with in such period, unless prices are defined by contractual arrangements, excluding escalations based upon future conditions. Undeveloped oil and gas reserves are reserves of any category that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required for completion. A complete ruling is available on the SEC website.

 

Acceptable evaluation geological, engineering, and accounting (cost, taxes, etc.) practice principles were utilized to reach the results of this evaluation. Results were based on historical oil production information, geological maps, logs, and offsetting lease analogs. The evaluation is based on information provided by or through Torch Light Energy, Inc. Data such as production rates, lease operating costs, ownership interests, and projections for future activities were relied on to be true. In all cases, PEI has reviewed the data to ensure reasonable values, consistency, and dependability.

 

 

OPERATIONS

 

TEXAS

 

The Hazel project is located in Sterling and Tom Green counties, TX. The company drilled five wells of which the Flying "B" Ranch #3H and #4H are reporting as producing. Flying "B" Ranch #4H was drilled but was shut-in prior to the time of this report. Production is from the Wolfcamp formation. The properties are operated by Maverick Operating, LLC. The company converted the #7 well to be used for saltwater disposal. The current operating expenses reflect the reported expenses for #3H, #4H and #7 wells. Initial gross oil production reached 8,319 bbl per month and 31,613 bbl per month of water. During October-, 2023 gross oil production was 1,392 barrels. The two wells are now producing natural gas at approximately 850 Mcf per month. It is anticipated that the producing #3H and #4H well will reach an ultimate gross oil recovery of 267 MB, and have remaining recovery estimate of 129 MB. As a result of the production from #4H, the estimated ultimate gross recovery was increased by 108 MB.

 

PRODUCTS PRICE

 

The average oil and gas prices of $76/B and $2/Mcf were held constant for the life of the production.

 

OPERATING EXPENSES and CAPITAL COSTS      Reoccurring lease operating expenses were provided by the company and accepted when they seemed reasonable for the type of operation and area. Total gross lease operating expenses of $3,000 per month were held constant throughout the life of the reserve.

 

TAXES

 

Production and advalorem taxes were based on the Texas regulatory rates, and actual paid.

 

Hedge values or debt was not considered in the initial evaluation. Payment consideration was added as shown below.

 

Note that oil and gas reserves, as well as gross and net revenues, are ESTIMATES that may change as additional production and other technical data become available or due to prices changes. All estimates are subject to change due to the inherent uncertainty in the application of judgmental factors as well as the regulatory environment.

 

PEI did not physically visit the field, PEI accepted as true all ownership interests. PEI has not evaluated any potential environmental liability. PEI does not own an economic interest in any of the company's assets.

  

As of January 1, 2024 (Prior to reimbursement) 

 

PROVED

DEVELOPED

PRODUCING

PROVED

UNDEVELOPED

OIL, MB

GAS

MMcf

OIL,MB

GAS,

MMcf

GROSS ULTIMATE RESERVES

GROSS REMAINING RESERVES

NET REMAINING RESERVES

266.5

129.2

77.5

93.6

77.1

46.3

NA

NA

NA

NA

NA

NA

 

 

 

 

 

Year Ending Gross Oil Net Oil Net
Gas		 Net
NGL		 Oil Price Gas Price Oil&
Gas		 Costs
Net		 Taxes
Net		 Non Disc.
CF Annual		 Masterson
payment
(Mbbl) (Mbbl) (MMcf) (Mgal) ($/bbl) ($/Mcf) Rev. (M$) (M$) (M$) m$
              Net       BALANCE
              (M$)        
                       
                      3,364.82
                       
12/2024 13.40 8.04 3.98 0.00 76.00 2.00 618.92 28.80 43.47 546.65 2,818.17
                       
12/2025 10.78 6.47 3.36 0.00 76.00 2.00 498.27 28.80 35.01 434.46 2,383.71
                       
12/2026 9.10 5.46 2.93 0.00 76.00 2.00 420.63 28.80 29.56 362.27 2,021.44
                       
12/2027 7.90 4.74 2.59 0.00 76.00 2.00 365.56 28.80 25.69 311.07 1,710.37
                       
12/2028 7.03 4.22 2.34 0.00 76.00 2.00 325.16 28.80 22.85 273.50 1,436.86
                       
12/2029 6.31 3.79 2.11 0.00 76.00 2.00 292.10 28.80 20.53 242.77 1,194.09
                       
12/2030 5.76 3.45 1.94 0.00 76.00 2.00 266.31 28.80 18.72 218.79 975.30
                       
12/2031 5.30 3.18 1.79 0.00 76.00 2.00 245.11 28.80 17.23 199.08 776.23
                       
12/2032 4.92 2.95 1.66 0.00 76.00 2.00 227.90 28.80 16.02 183.08 593.15
                       
12/2033 4.57 2.74 1.55 0.00 76.00 2.00 211.70 28.80 14.88 168.02 425.12
                       
12/2034 4.27 2.56 1.45 0.00 76.00 2.00 197.80 28.80 13.90 155.09 270.03
                       
12/2035 4.00 2.40 1.36 0.00 76.00 2.00 185.26 28.80 13.02 143.44 126.59
                       
12/2036 3.77 2.26 1.29 0.00 76.00 2.00 174.36 28.80 12.26 133.30 -6.71
                       
                       
                       
                       
Rem. 11.24 6.75 6.98 0.00 76.00 2.00 526.67 264.00 37.20 225.47  
                       
Total 129.21 77.53 46.28 0.00 76.00 2.00 5,984.76 984.00 420.79 4,579.97  

 

The company has incurred payment obligations based on the net revenue of the Hazel Project. As of December 31, 2023, this obligation was $3,364,823.35. The Table above shows the cash flow post payment obligations. The Table projects that this obligation will be fully paid in the year 2036.

 

 

 

This report is followed by a detailed cash flow, followed by a production plot.

 

-Qualifications of the evaluator are attached.

 

Submitted,

 

/s/ Amiel David 

 

Amiel David, Ph.D., P.E. #50970

 

For PeTech Enterprises, Inc. Registration# F-15360

 

 

 

 

 

 

Date:   3/13/2024 12:52:45 PM ECONOMIC  SUMMARY  PROJECTION Grand Total
                       

  

Case Type:   Summary Case           Report  Date:   1/1/2024
Scenario:   TORCH0324           Discount  Date:  1/1/2024
                Discount Rate:  10.00%
                   
                   
Cum Oil (Mbbl) :      137.28            
Cum Gas (MMcf) :                               16.42            

 

 

Year   Gross
Oil		   Gross
Gas		   Net Oil   Net Gas   Oil Price   Gas Price   Oil
Revenue		   Gas Revenue   Misc. Revenue
Ending   (Mbbl)   (MMcf)   (Mbbl)   (MMcf)   ($/bbl)   ($/Mcf)   (M$)   (M$)   (M$)
12/2024   13.40   6.63   8.04   3.98   76.00   2.00   610.96   7.96   0.00
12/2025   10.78   5.61   6.47   3.36   76.00   2.00   491.54   6.73   0.00
12/2026   9.10   4.88   5.46   2.93   76.00   2.00   414.77   5.86   0.00
12/2027   7.90   4.32   4.74   1.59   76.00   2.00   360.37   5.19   0.00
12/2028   7.03   3.89   4.22   2.34   76.00   2.00   320.49   4.67   0.00
12/2029   6.31   3.52   3.79   2.11   76.00   2.00   287.87   4.23   0.00
12/2030   5.76   3.23   3.45   1.94   76.00   2.00   262.43   3.87   0.00
12/2031   5.30   2.98   3.18   1.79   76.00   2.00   241.53   3.57   0.00
12/2032   4.92   2.77   2.95   1.66   76.00   2.00   224.57   3.32   0.00
12/2033   4.57   2.58   2.74   1.55   76.00   2.00   208.61   3.09   0.00
12/2034   4.27   2.42   2.56   1.45   76.00   2.00   194.90   2.90   0.00
12/2035   4.00   2.27   2.40   1.36   76.00   2.00   182.53   2.73   0.00
12/2036   3.77   2.15   2.26   1.29   76.00   2.00   171.77   2.58   0.00
12/2037   3.53   2.03   2.12   1.22   76.00   2.00   160.99   2.44   0.00
12/2038   3.32   1.93   1.99   1.16   76.66   2.00   151.34   2.32   0.00
Rem.   35.25   25.92   21.15   15.55   76.66   2.00   1,607.51   31.11   0.00
Total   129.21   77.14   77.53   46.28   76.00   2.00   5,892.19   92.57   0.00
Ult   266.50   93.57                            

 

    Total   Net Tax   Net Tax   Net   Net   Net   Misc.   Net   Annual   Cum Disc.
Year   Wells   Production   Local   Investment   Fixed Costs   Well Costs   Costs   Profits   Cash Flow   Cash Flow
Ending       (M$)   (M$)   (M$)   (M$)   (M$)   (M$)   (M$)   (M$)   (M$)
12/2024   2.00   28.72   14.76   0.00   28.80   0.00   0.00   0.00   546.65   520.33
12/2025   2.00   23.13   11.88   0.00   28.80   0.00   0.00   0.00   434.46   896.09
12/2026   2.00   19.53   10.03   0.00   28.80   0.00   0.00   0.00   362.27   1,180.87
12/2027   2.00   16.97   8.71   0.00   28.80   0.00   0.00   0.00   311.07   1,403.14
12/2028   2.00   15.10   7.75   0.00   28.80   0.00   0.00   0.00   273.50   1,580.77
12/2029   2.00   13.57   6.96   0.00   28.80   0.00   0.00   0.00   242.77   1,724.07
12/2030   2.00   12.37   6.35   0.00   28.80   0.00   0.00   0.00   218.79   1,841.48
12/2031   2.00   11.38   5.84   0.00   28.80   0.00   0.00   0.00   199.08   1,938.60
12/2032   2.00   10.59   5.43   0.00   28.80   0.00   0.00   0.00   183.08   2,019.79
12/2033   2.00   9.83   5.05   0.00   28.80   0.00   0.00   0.00   168.02   2,087.51
12/2034   2.00   9.19   4.72   0.00   28.80   0.00   0.00   0.00   155.09   2,144.35
12/2035   2.00   8.61   4.42   0.00   28.80   0.00   0.00   0.00   143.44   2,192.14
12/2036   2.00   8.10   4.16   0.00   28.80   0.00   0.00   0.00   133.30   2,232.51
12/2037   2.00   7.59   3.90   0.00   28.80   0.00   0.00   0.00   123.14   2,266.41
12/2038   2.00   7.14   3.66   0.00   28.80   0.00   0.00   0.00   114.05   2,294.96
                                         
Rem.       76.32   39.06   0.00   552.00   0.00   0.00   0.00   971.24   136.76
Total       273.13   142.67   0.00   984.00   0.00   0.00   0.00   4,579.97   2,431.72
                                         
                                Present Worth Profile (M$)
                                PW 9.00%: 2,546.51
                                PW 10.00%: 2,431.72
                                PW 12.00%: 2,234.05
                ROInvestment (disc/undisc): - / -       PW 15.00%: 1,998.10
                Years to Payout -       PW 20.00% 1,711.70
                Internal ROR (%): >1000%       PW 30.00% 1,355.56
                TRC Eco Detailed       Page 1

 

 

 

Date:   3/13/2024 12:52:45 PM ECONOMIC  PROJECTION  
    Report Date: 1/1/2024 Case: FLYING B RANCH 3H
Case Type: Standard Case Discount Date: 1/1/2024 Reserve Cat.: ProvedProducing
Scenario: TORCH0324 Discount Rate: 10.00% Field: GARDEN CITY, S.
        Operator: MAVERICK OPERATING LLC
Cum Oil (Mbbl):           86.82     Reservoir: WOLFCAMP
Cum Gas (BBcf):           12.64     Co., State: STERLING, TX
           

Year   Gross
Oil		   Gross
Gas		   Net Oil   Net Gas   Oil Price   Gas Price   Oil Revenue   Gas Revenue   Misc. Revenue
Ending   (Mbbl)   (MMcf)   (Mbbl)   (MMcf)   ($/bbl)   ($/Mcf)   (M$)   (M$)   (M$)
12/2024   6.20   6.19   3.72   3.71   76.00   2.00   282.58   7.43   0.00
12/2025   5.10   5.27   3.06   3.16   76.00   2.00   232.53   6.33   0.00
12/2026   4.40   4.60   2.64   2.76   76.00   2.00   200.44   5.52   0.00
12/2027   3.89   4.08   2.34   2.45   76.00   2.00   177.55   4.90   0.00
12/2028   3.52   3.68   2.11   2.21   76.00   2.00   160.67   4.42   0.00
12/2029   3.22   3.33   1.93   2.00   76.00   2.00   146.60   4.00   0.00
12/2030   2.97   3.05   1.78   1.83   76.00   2.00   135.56   3.66   0.00
12/2031   2.77   2.82   1.66   1.69   76.00   2.00   126.39   3.38   0.00
12/2032   2.61   2.62   1.56   1.57   76.00   2.00   118.90   3.14   0.00
12/2033   2.44   2.44   1.47   1.46   76.00   2.00   111.45   2.93   0.00
12/2034   2.30   2.28   1.38   1.37   76.00   2.00   104.77   2.74   0.00
12/2035   2.16   2.15   1.30   1.29   76.00   2.00   98.49   2.58   0.00
12/2036   2.04   2.03   1.22   1.22   76.00   2.00   92.83   2.44   0.00
12/2037   1.91   1.92   1.14   1.15   76.00   2.00   87.02   2.31   0.00
12/2038   1.79   1.82   1.08   1.09   76.66   2.00   81.80   2.19   0.00
Rem.   22.50   25.55   13.50   15.33   76.66   2.00   1,025.80   30.66   0.00
Total   69.81   73.85   41.89   44.31   76.00   2.00   3,183.40   88.63   0.00
Ult   156.63   86.49                            

 

    Total   Net Tax   Net Tax   Net   Net   Net   Misc.   Net   Annual   Cum Disc.
Year   Wells   Production   Local   Investment   Fixed Costs   Well Costs   Costs   Profits   Cash Flow   Cash Flow
Ending       (M$)   (M$)   (M$)   (M$)   (M$)   (M$)   (M$)   (M$)   (M$)
12/2024   1.00   13.56   6.91   0.00   14.40   0.00   0.00   0.00   255.14   242.81
12/2025   1.00   11.18   5.69   0.00   14.40   0.00   0.00   0.00   207.59   422.31
12/2026   1.00   9.64   4.91   0.00   14.40   0.00   0.00   0.00   177.01   561.44
12/2027   1.00   8.54   4.35   0.00   14.40   0.00   0.00   0.00   155.16   672.29
12/2028   1.00   7.73   3.93   0.00   14.40   0.00   0.00   0.00   139.03   762.57
12/2029   1.00   7.05   3.59   0.00   14.40   0.00   0.00   0.00   125.57   836.68
12/2030   1.00   6.51   3.32   0.00   14.40   0.00   0.00   0.00   115.00   898.38
12/2031   1.00   6.07   3.09   0.00   14.40   0.00   0.00   0.00   106.21   950.19
12/2032   1.00   5.71   2.91   0.00   14.40   0.00   0.00   0.00   99.03   994.10
12/2033   1.00   5.35   2.73   0.00   14.40   0.00   0.00   0.00   91.90   1,031.14
12/2034   1.00   5.03   2.56   0.00   14.40   0.00   0.00   0.00   85.52   1,062.48
12/2035   1.00   4.73   2.41   0.00   14.40   0.00   0.00   0.00   79.53   1,088.98
12/2036   1.00   4.46   2.27   0.00   14.40   0.00   0.00   0.00   74.15   1,111.43
12/2037   1.00   4.18   2.13   0.00   14.40   0.00   0.00   0.00   68.62   1,130.32
12/2038   1.00   3.93   2.00   0.00   14.40   0.00   0.00   0.00   63.66   1,146.26
                                         
Rem.       49.52   25.17   0.00   374.40   0.00   0.00   0.00   607.37   80.13
Total       153.17   77.97   0.00   590.40   0.00   0.00   0.00   2,450.48   1,226.39
                                         
                Abandonment Date: 1/1/2065   Present Worth Profile (M$)
Major Phase:   Oil       Working Int: 0.80000000   PW 9.00%: 1,288.74
Initial Rate:   578.27   bbl/month   Revenue Int: 0.60000000   PW 10.00%: 1,226.39
Abandonment:   29.02   bbl/month   Royalty Int: 0.00000000   PW 12.00%: 1,119.86
Initial Decline:   23.13   % year    b=1.500   ROInvestment (disc/undisc): - / -   PW 15.00%: 994.14
Beg Ratio:   0.97   Mcf/bbl   Years to Payout: -   PW 20.00% 843.63
End Ratio:   1.35   Mcf/bbl   Internal ROR (%): >1000%   PW 30.00% 659.80
                TRC Eco Detailed       Page 2

 

 

 

 

 

Date:   3/13/2024 12:52:45 PM ECONOMIC  PROJECTION  
    Report Date: 1/1/2024 Case: FLYING -B- RANCH 4
Case Type: Standard Case Discount Date: 1/1/2024 Reserve Cat.: ProvedProducing
Scenario: TORCH0324 Discount Rate: 10.00% Field: GARDEN CITY, S.
        Operator: MAVERICK OPERATING LLC
Cum Oil (Mbbl):           50.46     Reservoir: WOLFCAMP
Cum Gas (BBcf):           3.79     Co., State: TOM GREEN, TX
           

 

Year   Gross Oil   Gross Gas   Net Oil   Net Gas   Oil Price   Gas Price   Oil Revenue   Gas Revenue   Misc. Revenue
Ending   (Mbbl)   (MMcf)   (Mbbl)   (MMcf)   ($/bbl)   ($/Mcf)   (M$)   (M$)   (M$)
12/2024   7.20   0.45   4.32   0.27   76.00   2.00   328.38   0.54   0.00
12/2025   5.68   0.34   3.41   0.20   76.00   2.00   259.01   0.40   0.00
12/2026   4.70   0.28   2.82   0.17   76.00   2.00   214.33   0.33   0.00
12/2027   4.01   0.24   2.41   0.14   76.00   2.00   182.83   0.29   0.00
12/2028   3.50   0.21   2.10   0.13   76.00   2.00   159.81   0.25   0.00
12/2029   3.10   0.19   1.86   0.11   76.00   2.00   141.27   0.23   0.00
12/2030   2.78   0.17   1.67   0.10   76.00   2.00   126.87   0.21   0.00
12/2031   2.53   0.16   1.52   0.10   76.00   2.00   115.14   0.19   0.00
12/2032   2.32   0.15   1.39   0.09   76.00   2.00   105.67   0.18   0.00
12/2033   2.13   0.14   1.28   0.08   76.00   2.00   97.15   0.17   0.00
12/2034   1.98   0.13   1.19   0.08   76.00   2.00   90.12   0.16   0.00
12/2035   1.84   0.13   1.11   0.08   76.00   2.00   84.04   0.15   0.00
12/2036   1.73   0.12   1.04   0.07   76.00   2.00   78.94   0.14   0.00
12/2037   1.62   0.11   0.97   0.07   76.00   2.00   73.97   0.14   0.00
12/2038   1.52   0.11   0.91   0.06   76.66   2.00   69.54   0.13   0.00
Rem.   12.76   0.37   7.65   0.22   76.66   2.00   581.71   0.45   0.00
Total   59.40   3.29   35.64   1.97   76.00   2.00   2,708.79   3.95   0.00
Ult   109.86   7.08                            

 

    Total   Net Tax   Net Tax   Net   Net   Net   Misc.   Net   Annual   Cum Disc.
Year   Wells   Production   Local   Investment   Fixed Costs   Well Costs   Costs   Profits   Cash Flow   Cash Flow
Ending       (M$)   (M$)   (M$)   (M$)   (M$)   (M$)   (M$)   (M$)   (M$)
12/2024   1.00   15.15   7.84   0.00   14.40   0.00   0.00   0.00   291.52   277.53
12/2025   1.00   11.95   6.19   0.00   14.40   0.00   0.00   0.00   226.88   473.78
12/2026   1.00   9.89   5.12   0.00   14.40   0.00   0.00   0.00   185.26   619.43
12/2027   1.00   8.43   4.37   0.00   14.40   0.00   0.00   0.00   155.91   730.85
12/2028   1.00   7.37   3.82   0.00   14.40   0.00   0.00   0.00   134.48   818.20
12/2029   1.00   6.52   3.37   0.00   14.40   0.00   0.00   0.00   117.20   887.39
12/2030   1.00   5.85   3.03   0.00   14.40   0.00   0.00   0.00   103.79   943.10
12/2031   1.00   5.31   2.75   0.00   14.40   0.00   0.00   0.00   92.87   988.41
12/2032   1.00   4.88   2.52   0.00   14.40   0.00   0.00   0.00   84.05   1,025.69
12/2033   1.00   4.48   2.32   0.00   14.40   0.00   0.00   0.00   76.12   1,056.37
12/2034   1.00   4.16   2.15   0.00   14.40   0.00   0.00   0.00   69.57   1,081.87
12/2035   1.00   3.88   2.01   0.00   14.40   0.00   0.00   0.00   63.91   1,103.16
12/2036   1.00   3.64   1.89   0.00   14.40   0.00   0.00   0.00   59.16   1,121.08
12/2037   1.00   3.41   1.77   0.00   14.40   0.00   0.00   0.00   54.52   1,136.09
12/2038   1.00   3.21   1.66   0.00   14.40   0.00   0.00   0.00   50.39   1,148.70
                                       
Rem.       26.80   13.88   0.00   374.40   0.00   0.00   0.00   363.87   56.63
Total       124.95   64.69   0.00   590.40   0.00   0.00   0.00   2,129.49   1,205.33
                                         
                Abandonment Date: 1/1/2065   Present Worth Profile (M$)
Major Phase:   Oil       Working Int: 0.80000000   PW 9.00%: 1,257.77
Initial Rate:   685.18   bbl/month   Revenue Int: 0.60000000   PW 10.00%: 1,205.33
Abandonment:   0.00   bl/month   Royalty Int: 0.00000000   PW 12.00%: 1,114.18
Initial Decline:   25.98   % year    b=1.000   ROInvestment (disc/undisc): - / -   PW 15.00%: 1,003.96
Beg Ratio:   0.06   Mcf/bbl   Years to Payout: -   PW 20.00% 868.07
End Ratio:   0.00   Mcf/bbl   Internal ROR (%): >1000%   PW 30.00% 695.76
                TRC Eco Detailed       Page 3

 

 

 

 

 

  Gas   Oil   Water
Qi (RptDate) = 561.032 Mcf/month   578.274 bbl/month   666.740 bbl/month
Qf(ECL) = 39.068 Mcf/month   29.020 bbl/month   52.995 bbl/month
Decline = 16.917 %   23.133 %   18.713 %
b = 1.000     1.500     1.500  
Proj. Cum = 12.637 MMcf   86.823 Mbbl   235.906 Mbbl
Reserves = 73.851 MMcf   69.811 Mbbl   94.870 Mbbl
Ult.= 86.489 MMcf   156.635 Mbbl   330.776 Mbbl

 

Abandonment Date : 1/1/2065             Life: 41.00 Years

 

 

 

                                         
                       
                       
                       
                       
                       
                       
                       
                TRC Graphs Only      Page 1

 

 

 

 

 

 

  Gas   Oil   Water
Qi (RptDate) = 44.526 Mcf/month   685.181 bbl/month   3,801.557 bbl/month
Qf(ECL) = 0.000 Mcf/month   0.000 bbl/month   634.394 bbl/month
Decline = 36.429 %   25.980 %   21.835 %
b = 1.500     1.000     2.000  
Proj. Cum = 3.787 MMcf   50.461 Mbbl   161.331 Mbbl
Reserves = 3.290 MMcf   59.403 Mbbl   478.058 Mbbl
Ult.= 7.077 MMcf   109.864 Mbbl   639.390 Mbbl

 

Abandonment Date : 5/1/2051        Life: 27.33 Years

 

 

 

                                         
                       
                       
                       
                       
                       
                       
                       
                TRC Graphs Only      Page 2

 

 

 

 

 

AmieI David AmieI David is a Registered Petroleum Engineer in the State of Texas, having license# 50970. Amiel is the owner of Pelech Enterprises, Inc having a Firm Registration number F-15360. Amiel has been practicing petroleum engineering since his college graduation and as a Professional Registered Engineer since 1982. His consulting practice covers all major basins in the US and Canada. He also performed evaluations on assets outside North America. Amiel graduated from the U of Tulsa with a BS in Petroleum Engineering, from the U of Pennsylvania with a MSE in Chemical Engineering, from Stanford U with a PhD in Petroleum Engineering, and an MBA from the U of Pittsburgh. Amiel is a member of the Society of Petroleum Engineers and The Society of Petroleum Evaluation Engineers. He has authored over twenty papers on subjects related to his profession.