global energy development plc estimated future reserves and ...

GLOBAL ENERGY DEVELOPMENT PLC DATE : 02/22/2011GRAND TOTAL TIME : 11:01:08TOTAL PROVED PRODUCING DBS : DEMO51-101 FORECASTED PRICING CASE SETTINGS : RED123110SCENARIO : 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 388.6 129.8 0.0 332.5 103.8 0.0 22834.5 0.0 0.0 22834.512-2012 335.5 116.8 0.0 287.0 93.5 0.0 20522.2 0.0 0.0 20522.212-2013 290.7 105.1 0.0 248.7 84.1 0.0 18505.5 0.0 0.0 18505.512-2014 252.7 94.6 0.0 212.2 41.2 0.0 16450.6 0.0 0.0 16450.612-2015 220.3 85.2 0.0 183.5 34.1 0.0 14767.7 0.0 0.0 14767.712-2016 189.7 76.6 0.0 151.3 30.7 0.0 12631.2 0.0 0.0 12631.212-2017 164.2 69.0 0.0 128.8 27.6 0.0 11024.1 0.0 0.0 11024.112-2018 141.1 62.1 0.0 92.1 24.8 0.0 7968.3 0.0 0.0 7968.312-2019 123.9 55.9 0.0 78.7 22.3 0.0 6964.1 0.0 0.0 6964.112-2020 109.6 50.3 0.0 69.3 20.1 0.0 6288.2 0.0 0.0 6288.212-2021 70.0 45.3 0.0 50.3 18.1 0.0 4592.4 0.0 0.0 4592.412-2022 54.0 17.5 0.0 40.2 7.0 0.0 3752.6 0.0 0.0 3752.612-2023 21.9 0.0 0.0 12.5 0.0 0.0 1236.0 0.0 0.0 1236.012-2024 12.5 0.0 0.0 5.6 0.0 0.0 595.6 0.0 0.0 595.612-2025 9.8 0.0 0.0 4.5 0.0 0.0 490.6 0.0 0.0 490.6S TOT 2384.5 908.2 0.0 1897.3 507.3 0.0 148623.5 0.0 0.0 148623.5AFTER 26.0 0.0 0.0 12.0 0.0 0.0 1309.3 0.0 0.0 1309.3TOTAL 2410.5 908.2 0.0 1909.3 507.3 0.0 149932.8 0.0 0.0 149932.8--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 68.67 0.00 0.00 0.0 2638.1 5642.3 14554.2 0.0 14554.2 13902.412-2012 71.50 0.00 0.00 0.0 2325.8 5467.5 12728.9 0.0 12728.9 11053.712-2013 74.42 0.00 0.00 0.0 2035.5 5342.3 11127.7 0.0 11127.7 8785.112-2014 77.51 0.00 0.00 0.0 1776.1 5259.4 9415.1 0.0 9415.1 6758.712-2015 80.49 0.00 0.00 0.0 1542.3 4990.8 8234.6 0.0 8234.6 5375.712-2016 83.50 0.00 0.00 0.0 1343.7 4810.1 6477.4 360.3 6117.1 3625.412-2017 85.58 0.00 0.00 0.0 1156.6 4735.8 5131.7 -2010.0 7141.7 3842.112-2018 86.51 0.00 0.00 0.0 962.0 3777.9 3228.4 800.0 2428.4 1182.012-2019 88.46 0.00 0.00 0.0 824.4 3748.5 2391.2 0.0 2391.2 1067.012-2020 90.73 0.00 0.00 0.0 717.6 3835.6 1735.0 0.0 1735.0 704.412-2021 91.31 0.00 0.00 0.0 623.8 3044.6 924.0 651.6 272.5 90.712-2022 93.41 0.00 0.00 0.0 515.4 2319.9 917.3 1665.5 -748.2 -242.912-2023 98.52 0.00 0.00 0.0 91.3 149.4 995.2 1466.2 -470.9 -143.512-2024 105.49 0.00 0.00 0.0 0.0 102.2 493.4 269.4 224.0 61.912-2025 109.37 0.00 0.00 0.0 0.0 156.6 334.1 0.0 334.1 84.3S TOT 78.33 0.00 0.00 0.0 16552.3 53382.8 78688.3 3202.9 75485.4 56146.9AFTER 109.37 0.00 0.00 0.0 0.0 585.5 723.8 966.6 -242.7 -21.4TOTAL 78.53 0.00 0.00 0.0 16552.3 53968.4 79412.1 4169.5 75242.7 56125.5OIL GAS P.W. % P.W., M$--------- --------- ------ --------GROSS WELLS 16.0 0.0 LIFE, YRS. 18.17 5.00 64396.305GROSS ULT., MB & MMF 7440.760 3509.579 DISCOUNT % 10.00 10.00 56125.469GROSS CUM., MB & MMF 5030.261 2601.409 UNDISCOUNTED PAYOUT, YRS. 0.00 15.00 49695.004GROSS RES., MB & MMF 2410.500 908.170 DISCOUNTED PAYOUT, YRS. 0.00 20.00 44599.223NET RES., MB & MMF 1909.283 507.280 UNDISCOUNTED NET/INVEST. 19.05 25.00 40488.977NET REVENUE, M$ 149932.844 0.000 DISCOUNTED NET/INVEST. 54.78 30.00 37119.816INITIAL PRICE, $ 69.073 0.000 RATE-OF-RETURN, PCT. 100.00 40.00 31956.961INITIAL N.I., PCT. 75.424 80.000 INITIAL W.I., PCT. 96.257 60.00 25382.25280.00 21407.699100.00 18752.639Ralph E. DAVIS ASSOCIATES, INC.F‐1529