STEADY PRODUCTION TO SUPPORT ALASKA LEASES AND TECHNICAL RESOURCES
Non-Operator | ~73% WI
2 MMBO 2P Net Reserves to 88E Revenue Entitlement1,2
- Diversifying Portfolio with Production
- Low-cost Entry with NET 2P Reserves of 2.1 MMBOE
- Attractive Location in well-known Texas Permian Basin
- Solid PDP Production with Workover upside
- Six work-overs successfully completed in 2022 delivering increased production since February 2022 acquistion
- Production of between 400-450BOE/pd (~70% oil)3
- Four work-overs and at least five new drill targets remain on the acreage4
- Solid cash flows support advancing exploration efforts through studies and technical resourcing and towards Alaskan lease payments
|LONGHORN RESERVES||GROSS1||NET ENTITLEMENT1|
1. Refer ASX release dated 21 February 2022 for initial reserves estimates, assumptions and Cautionary Statement below.
2. Cautionary Statement: The estimated quantities of petroleum that may be potentially recovered by the application of a future development project relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration, appraisal and evaluation are required to determine the existence of a significant quantity of potentially movable hydrocarbons.
3. Based on Operator and internal reports and forecasts.
4. Subject to AFE and JV approvals.