EX-99 2 exhibit991.htm EXHIBIT 99.1 Exhibit 99.1

 

Exhibit 99.1

Maritech Resources

(Year-End Data)

 

 

2004

2003

2002

2001

 

Proved Reserves

 

Natural gas (BCF)

22.405

13.925

10.004

9.514

 

Oil (millions of barrels)

2.646

3.275

0.902

0.700

 

Natural gas equivalents (BCF @ 6 to 1)

38.281

33.575

15.416

13.714

 

Production (BCF equivalents)

7.113

6.791

2.742

2.173

 

 

 

($ millions)

 

Future cash flow before income taxes (1)

$120.8

$86.2

$33.6

N.A.

 

Net capitalized costs (1)

$33.7

$23.7

$24.2

$10.8

 

 

 

Estimated WA&D (2)

$167.1

$130.8

N.A.

N.A.

 

Estimated Maritech operated WA&D (2)

$129.3

$82.4

N.A.

N.A.

 

 

(1) Net well abandonment and decommissioning costs have been deducted from both cash flow and capitalized costs.

(2) Properties in which Maritech has a working interest. The amount includes 100% of the estimated costs, even though Maritech may not own all of the interest or have all of the interest under contract.