global energy development plc estimated future reserves and ...

GLOBAL ENERGY DEVELOPMENT PLC DATE : 02/22/2011GRAND TOTAL TIME : 11:01:13TOTAL 2P RESERVES DBS : DEMOPROVED + PROBABLESETTINGS : RED12311051-101 FORECASTED PRICING CASE SCENARIO : 51-101R 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 597.9 129.8 0.0 490.4 103.8 0.0 33227.7 0.0 0.0 33227.712-2012 3983.4 116.8 0.0 2885.5 93.5 0.0 203872.2 0.0 0.0 203872.212-2013 6908.3 367.4 25.2 4655.2 229.4 20.1 342297.9 0.0 0.0 342297.912-2014 10731.3 4051.7 29.8 7211.9 3130.3 23.9 542659.8 0.0 0.0 542659.812-2015 17604.3 8651.9 22.4 12398.1 6829.9 18.0 962592.1 0.0 0.0 962592.112-2016 31325.3 12160.1 324.7 23400.3 8864.7 259.7 1891841.4 0.0 0.0 1891841.412-2017 30878.7 10067.5 332.3 23661.4 7174.0 265.9 1963482.5 0.0 0.0 1963482.512-2018 23203.8 7570.3 249.4 15271.8 2708.3 99.7 1302921.4 0.0 0.0 1302921.412-2019 18304.8 5694.1 187.1 12195.7 2037.7 74.8 1065422.6 0.0 0.0 1065422.612-2020 14869.6 4284.4 140.4 10072.3 1533.7 56.2 902590.9 0.0 0.0 902590.912-2021 12053.3 3219.7 104.8 8328.7 1153.4 41.9 762712.9 0.0 0.0 762712.912-2022 3753.9 2373.6 76.0 2051.8 852.0 30.4 191012.8 0.0 0.0 191012.812-2023 1731.9 1769.5 57.0 692.4 634.7 22.8 65194.1 0.0 0.0 65194.112-2024 731.9 711.9 22.9 291.1 255.4 9.2 28130.8 0.0 0.0 28130.812-2025 79.5 0.0 0.0 31.0 0.0 0.0 3163.8 0.0 0.0 3163.8S TOT 176758.0 61168.8 1572.0 123637.6 35600.7 922.6 10261123.0 0.0 0.0 10261123.0AFTER 48.1 0.0 0.0 20.4 0.0 0.0 2154.4 0.0 0.0 2154.4TOTAL 176806.1 61168.8 1572.0 123658.0 35600.7 922.6 10263278.0 0.0 0.0 10263278.0--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 67.76 0.00 0.00 0.0 4383.1 6955.3 21889.3 26606.2 -4716.9 -4670.312-2012 70.65 0.00 0.00 0.0 9301.7 38631.0 155939.5 467994.6 -312055.1 -275900.812-2013 73.53 0.00 0.00 0.0 9325.0 64406.6 268566.2 54060.1 214506.1 168629.112-2014 75.25 0.00 0.00 0.0 6958.5 111026.0 424675.4 109900.4 314774.9 223016.412-2015 77.64 0.00 0.00 0.0 5195.4 215623.4 741773.3 458521.7 283251.7 183380.712-2016 80.85 0.00 0.00 0.0 3918.1 450723.7 1437199.5 537121.9 900077.7 528026.412-2017 82.98 0.00 0.00 0.0 2544.0 489626.8 1471311.6 107123.0 1364188.5 733732.912-2018 85.32 0.00 0.00 0.0 1173.5 335193.3 966554.6 1939.5 964615.1 473115.112-2019 87.36 0.00 0.00 0.0 824.4 283449.0 781149.2 0.0 781149.2 348199.912-2020 89.61 0.00 0.00 0.0 717.6 247876.5 653996.8 0.0 653996.8 264965.812-2021 91.58 0.00 0.00 0.0 623.8 215823.5 546265.8 5759.3 540506.4 198984.312-2022 93.10 0.00 0.00 0.0 515.4 53874.9 136622.6 213542.8 -76920.3 -27502.612-2023 94.15 0.00 0.00 0.0 91.3 17701.1 47401.6 3306.5 44095.1 13440.812-2024 96.63 0.00 0.00 0.0 0.0 7554.6 20576.2 11963.3 8612.8 2464.512-2025 102.04 0.00 0.00 0.0 0.0 494.3 2669.5 1629.7 1039.8 269.2S TOT 82.99 0.00 0.00 0.0 45571.7 2538960.2 7676591.5 1999469.0 5677122.5 2830151.5AFTER 105.84 0.00 0.00 0.0 0.0 735.4 1419.0 3524.9 -2105.9 -443.5TOTAL 83.00 0.00 0.00 0.0 45571.7 2539695.5 7678010.5 2002993.9 5675016.5 2829708.0OIL GAS P.W. % P.W., M$--------- --------- ------ --------GROSS WELLS 539.0 0.0 LIFE, YRS. 18.17 5.00 3965276.250GROSS ULT., MB & MMF 182495.984 63770.219 DISCOUNT % 10.00 10.00 2829708.250GROSS CUM., MB & MMF 5689.876 2601.409 UNDISCOUNTED PAYOUT, YRS. 3.32 15.00 2055922.375GROSS RES., MB & MMF 176806.109 61168.812 DISCOUNTED PAYOUT, YRS. 3.50 20.00 1516457.000NET RES., MB & MMF 123657.969 35600.734 UNDISCOUNTED NET/INVEST. 3.83 25.00 1132579.250NET REVENUE, M$ 10263277.000 0.000 DISCOUNTED NET/INVEST. 3.15 30.00 854355.500INITIAL PRICE, $ 77.356 0.000 RATE-OF-RETURN, PCT. 94.35 40.00 496053.875INITIAL N.I., PCT. 75.424 80.000 INITIAL W.I., PCT. 86.303 60.00 167583.90680.00 41669.176100.00 -12189.134Ralph E. DAVIS ASSOCIATES, INC.F‐1529