global energy development plc estimated future reserves and ...

GLOBAL ENERGY DEVELOPMENT PLC DATE : 02/01/2011GRAND TOTAL TIME : 15:29:57TOTAL PROBABLE UNDEVELOPED DBS : DEMO51‐101 CONSTANT PRICING CASE SETTINGS : RED123110SCENARIO : RED 123110 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 143.1 0.0 0.0 128.0 0.0 0.0 9138.4 0.0 0.0 9138.412‐2012 529.1 0.0 0.0 470.7 0.0 0.0 35386.6 0.0 0.0 35386.612‐2013 1138.9 262.3 25.2 940.2 145.2 20.1 71751.7 0.0 1288.5 73040.212‐2014 1504.0 310.8 29.8 1051.3 172.1 23.9 79266.1 0.0 1527.0 80793.012‐2015 6005.9 233.7 22.4 3856.3 129.4 18.0 285438.8 0.0 1148.3 286587.012‐2016 20414.9 3381.9 324.7 15176.7 1872.8 259.7 1112542.0 0.0 16613.9 1129156.012‐2017 22410.7 3461.7 332.3 17273.1 1917.0 265.9 1266589.2 0.0 17006.0 1283595.212‐2018 16607.5 2597.4 249.4 11942.9 719.2 99.7 878115.8 0.0 6380.1 884495.912‐2019 13099.6 1948.9 187.1 9493.3 539.6 74.8 698308.1 0.0 4787.1 703095.212‐2020 10714.6 1462.3 140.4 7844.4 404.9 56.2 577272.8 0.0 3591.9 580864.812‐2021 8797.5 1092.0 104.8 6513.4 302.3 41.9 478324.0 0.0 2682.2 481006.312‐2022 2080.2 791.5 76.0 1288.1 219.2 30.4 94052.6 0.0 1944.2 95996.812‐2023 685.2 593.8 57.0 270.9 164.4 22.8 19396.7 0.0 1458.6 20855.312‐2024 323.4 238.7 22.9 127.1 66.1 9.2 9133.1 0.0 586.4 9719.512‐2025 69.8 0.0 0.0 26.5 0.0 0.0 1946.0 0.0 0.0 1946.0S TOT 104524.3 16375.3 1572.0 76403.0 6652.2 922.6 5616662.5 0.0 59014.3 5675675.5AFTER 22.1 0.0 0.0 8.4 0.0 0.0 615.1 0.0 0.0 615.1TOTAL 104546.4 16375.3 1572.0 76411.3 6652.2 922.6 5617277.5 0.0 59014.3 5676290.5‐‐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 71.37 0.00 0.00 0.0 1665.9 552.2 6920.2 6941.6 ‐21.4 ‐179.812‐2012 75.18 0.00 0.00 0.0 3839.9 3927.2 27619.5 40014.0 ‐12394.5 ‐10524.912‐2013 76.31 0.00 63.97 0.0 2590.1 12234.0 58216.1 29772.4 28443.7 21994.012‐2014 75.40 0.00 63.97 0.0 1755.4 13915.9 65121.8 12271.0 52850.8 37861.412‐2015 74.02 0.00 63.97 0.0 1175.1 50473.9 234938.1 295320.0 ‐60381.9 ‐39286.312‐2016 73.31 0.00 63.97 0.0 784.9 224054.0 904317.2 415108.0 489209.1 284722.512‐2017 73.33 0.00 63.97 0.0 247.0 262123.1 1021225.2 81100.5 940124.8 505539.712‐2018 73.53 0.00 63.97 0.0 0.0 182324.7 702171.2 0.0 702171.2 344376.112‐2019 73.56 0.00 63.97 0.0 0.0 145456.7 557638.4 0.0 557638.4 248536.212‐2020 73.59 0.00 63.97 0.0 0.0 120648.3 460216.4 0.0 460216.4 186423.212‐2021 73.44 0.00 63.97 0.0 0.0 100186.2 380820.0 2440.0 378380.0 139292.812‐2022 73.02 0.00 63.97 0.0 0.0 19002.6 76994.2 88760.0 ‐11765.8 ‐4388.412‐2023 71.61 0.00 63.97 0.0 0.0 3451.4 17403.9 0.0 17403.9 5302.012‐2024 71.86 0.00 63.97 0.0 0.0 1468.8 8250.7 1540.0 6710.7 1888.812‐2025 73.38 0.00 0.00 0.0 0.0 111.7 1834.3 800.0 1034.3 264.3S TOT 73.51 0.00 63.97 0.0 12058.2 1139930.8 4523687.5 974067.6 3549620.0 1721821.8AFTER 73.38 0.00 0.00 0.0 0.0 35.3 579.9 1200.0 ‐620.1 ‐139.3TOTAL 73.51 0.00 63.97 0.0 12058.2 1139966.1 4524267.5 975267.6 3549000.0 1721682.4OIL GAS P.W. % P.W., M$‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐GROSS WELLS 349.0 0.0 LIFE, YRS. 16.08 5.00 2443499.750GROSS ULT., MB & MMF 104546.391 16375.258 DISCOUNT % 10.00 10.00 1721682.375GROSS CUM., MB & MMF 0.000 0.000 UNDISCOUNTED PAYOUT, YRS. 2.44 15.00 1238388.625GROSS RES., MB & MMF 104546.391 16375.258 DISCOUNTED PAYOUT, YRS. 2.49 20.00 907409.375NET RES., MB & MMF 76411.336 6652.250 UNDISCOUNTED NET/INVEST. 4.64 25.00 676080.062NET REVENUE, M$ 5617278.000 0.000 DISCOUNTED NET/INVEST. 3.92 30.00 511388.625INITIAL PRICE, $ 73.354 0.000 RATE‐OF‐RETURN, PCT. 100.00 40.00 304502.531INITIAL N.I., PCT. 89.500 80.000 INITIAL W.I., PCT. 90.023 60.00 122942.46180.00 56581.422100.00 28601.668RALPH E. DAVIS ASSOCIATES, INC.F‐1529