global energy development plc estimated future reserves and ...

GLOBAL ENERGY DEVELOPMENT PLC DATE : 01/25/2011GRAND TOTALS TIME : 10:31:30TOTAL PROVED RESERVES DBS : DEMO51‐101 CONSTANT PRICING CASE SETTINGS : RED123110SCENARIO : RED123110 UNESCR E S E R V E S A N D E C O N O M I C SAS OF DECEMBER 31, 2010‐‐END‐‐ GROSS OIL GROSS GAS GROSS NGL NET OIL NET GAS NET NGL NET OIL NET GAS NET NGL TOTALMO‐YEAR PRODUCTION PRODUCTION PRODUCTION PRODUCTION PRODUCTION PRODUCTION REVENUE REVENUE REVENUE REVENUE‐‐‐‐‐‐‐ ‐‐‐MBBLS‐‐‐ ‐‐‐‐MMCF‐‐‐ ‐‐‐MBBLS‐‐‐ ‐‐‐MBBLS‐‐ ‐‐‐‐MMCF‐‐ ‐‐‐‐MBBLS‐ ‐‐‐‐M$‐‐‐‐ ‐‐‐‐M$‐‐‐‐ ‐‐‐‐M$‐‐‐‐ ‐‐‐M$‐‐‐‐12‐2011 454.8 129.8 0.0 362.4 103.8 0.0 27218.0 0.0 0.0 27218.012‐2012 3454.3 116.8 0.0 2414.8 93.5 0.0 179104.3 0.0 0.0 179104.312‐2013 5769.4 105.1 0.0 3678.7 84.1 0.0 271673.1 0.0 0.0 271673.112‐2014 9227.3 3740.9 0.0 6068.1 2992.7 0.0 441206.3 0.0 0.0 441206.312‐2015 11598.4 8418.1 0.0 8435.2 6734.5 0.0 607375.6 0.0 0.0 607375.612‐2016 10910.4 8778.2 0.0 8180.9 7022.6 0.0 588084.4 0.0 0.0 588084.412‐2017 8468.0 6605.8 0.0 6360.0 5284.6 0.0 457423.6 0.0 0.0 457423.612‐2018 6596.3 4972.9 0.0 3328.3 1989.1 0.0 241171.5 0.0 0.0 241171.512‐2019 5205.3 3745.2 0.0 2704.8 1498.1 0.0 196309.5 0.0 0.0 196309.512‐2020 4155.0 2822.0 0.0 2230.1 1128.8 0.0 162110.6 0.0 0.0 162110.612‐2021 3255.8 2127.7 0.0 1817.4 851.1 0.0 131959.5 0.0 0.0 131959.512‐2022 1673.8 1582.1 0.0 764.0 632.9 0.0 54881.7 0.0 0.0 54881.712‐2023 1046.7 1175.6 0.0 421.5 470.2 0.0 30065.6 0.0 0.0 30065.612‐2024 408.5 473.2 0.0 164.0 189.3 0.0 11714.1 0.0 0.0 11714.112‐2025 9.8 0.0 0.0 4.5 0.0 0.0 367.6 0.0 0.0 367.6S TOT 72233.7 44793.5 0.0 46934.9 29075.3 0.0 3400665.2 0.0 0.0 3400665.2AFTER 26.0 0.0 0.0 12.0 0.0 0.0 981.1 0.0 0.0 981.1TOTAL 72259.7 44793.5 0.0 46946.9 29075.3 0.0 3401646.2 0.0 0.0 3401646.2‐‐END‐‐ NET OIL NET GAS NET NGL SEVERANCE ANH NET OPER OPERATING EQUITY FUTURE NET DISC 10.0%MO‐YEAR PRICE PRICE PRICE TAXES FEES EXPENSES CASH FLOW INVESTMENT CASH FLOW CASH FLOW‐‐‐‐‐‐‐ ‐‐‐M$‐‐‐ ‐‐‐M$‐‐‐ ‐‐‐M$‐‐‐ ‐‐‐‐M$‐‐‐‐‐ ‐‐‐‐M$‐‐‐‐‐ ‐‐‐‐M$‐‐‐‐ ‐‐‐‐M$‐‐‐‐ ‐‐‐‐‐M$‐‐‐ ‐‐‐‐‐M$‐‐‐‐ ‐‐‐‐‐M$‐‐‐‐12‐2011 75.11 0.00 0.00 0.0 2518.5 6074.6 18624.9 19100.0 ‐475.1 ‐518.212‐2012 74.17 0.00 0.00 0.0 4444.4 30573.8 144086.1 397021.6 ‐252935.5 ‐224830.712‐2013 73.85 0.00 0.00 0.0 5235.1 43516.0 222922.0 19170.0 203752.0 160612.512‐2014 72.71 0.00 0.00 0.0 3811.1 77822.8 359572.4 81310.7 278261.7 197062.812‐2015 72.00 0.00 0.00 0.0 2771.7 120022.9 484581.0 71145.7 413435.2 267550.712‐2016 71.88 0.00 0.00 0.0 2036.2 119457.5 466590.8 280.0 466310.8 276719.012‐2017 71.92 0.00 0.00 0.0 1511.6 94209.1 361702.9 ‐1005.0 362707.9 195665.812‐2018 72.46 0.00 0.00 0.0 778.7 50451.2 189941.5 1250.0 188691.5 92507.812‐2019 72.58 0.00 0.00 0.0 524.5 42020.3 153764.7 0.0 153764.7 68529.012‐2020 72.69 0.00 0.00 0.0 435.9 35455.3 126219.5 0.0 126219.5 51135.012‐2021 72.61 0.00 0.00 0.0 361.5 29476.8 102121.2 1085.0 101036.2 37198.512‐2022 71.83 0.00 0.00 0.0 284.1 12171.3 42426.3 34880.0 7546.3 2212.112‐2023 71.32 0.00 0.00 0.0 49.2 6197.9 23818.5 1445.0 22373.5 6820.712‐2024 71.42 0.00 0.00 0.0 0.0 2495.5 9218.7 4680.0 4538.7 1302.412‐2025 81.95 0.00 0.00 0.0 0.0 48.8 318.9 0.0 318.9 80.1S TOT 72.45 0.00 0.00 0.0 24762.4 669993.9 2705909.2 630363.0 2075546.4 1132047.5AFTER 81.95 0.00 0.00 0.0 0.0 130.1 851.0 155.0 696.0 149.4TOTAL 72.46 0.00 0.00 0.0 24762.4 670124.1 2706760.2 630518.0 2076242.2 1132196.9OIL GAS P.W. % P.W., M$‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐GROSS WELLS 190.0 0.0 LIFE, YRS. 18.17 5.00 1518922.750GROSS ULT., MB & MMF 77949.625 47394.957 DISCOUNT % 10.00 10.00 1132197.000GROSS CUM., MB & MMF 5689.876 2601.409 UNDISCOUNTED PAYOUT, YRS. 3.18 15.00 856763.938GROSS RES., MB & MMF 72259.742 44793.547 DISCOUNTED PAYOUT, YRS. 3.33 20.00 656126.125NET RES., MB & MMF 46946.863 29075.344 UNDISCOUNTED NET/INVEST. 4.29 25.00 507086.188NET REVENUE, M$ 3401646.000 0.000 DISCOUNTED NET/INVEST. 3.25 30.00 394470.031INITIAL PRICE, $ 72.396 0.000 RATE‐OF‐RETURN, PCT. 89.81 40.00 240974.875INITIAL N.I., PCT. 75.424 80.000 INITIAL W.I., PCT. 78.506 60.00 85599.52380.00 18333.381100.00 ‐13383.692RALPH E. DAVIS ASSOCIATES, INC.F‐1529