Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/gas/production_gas/significant-increase-in-reserve-value-for-green-dr.shtmlSignificant increase in reserve value for Green Dragon Gas
Green Dragon Gas is pleased to announce an increase in its estimated reserves as at 31 December 2014, as provided by independent reserve
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Green Dragon Gas is pleased to announce an increase in its estimated reserves as at 31 December 2014, as provided by independent reserve engineers Netherland Sewell & Associates, Inc.
Highlights: •Net 1P reserves increase 17% to 147.8 Bcf (2013: 126.2 Bcf); 1P NPV 10* increase 63% to US$1.46bn (2013: US$ 897.9m) •Net 2P reserves increase 12% to 426.8 Bcf (2013: 382.3 Bcf); 2P NPV 10 increase 53% to US$4.3bn (2013: US$ 2.8bn) •Net 3P reserves decrease 4% to 2,289.9 Bcf (2013: 2,381.5 Bcf); 3P NPV 10 increase 31% to US$21.18bn (2013: US$ 16.12bn) •9thconsecutive upgrade in 1P and 2P Reserve volumes and valuations**
Net present value of future revenues, at a discount rate of 10% * Based on 9 consecutive Audited Reserve Updates released by Green Dragon Gas since 2006
