global energy development plc estimated future reserves and ...

GLOBAL ENERGY DEVELOPMENT PLC DATE : 01/25/2011COUNTRY OF COLOMBIA TIME : 10:34:50GRAND TOTALS DBS : DEMOTOTAL PROVED RESERVESSETTINGS : 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 398.1 129.8 0.0 340.8 103.8 0.0 25637.7 0.0 0.0 25637.712‐2012 2481.8 116.8 0.0 2045.2 93.5 0.0 151985.8 0.0 0.0 151985.812‐2013 3385.2 105.1 0.0 2775.0 84.1 0.0 205358.7 0.0 0.0 205358.712‐2014 6035.2 3740.9 0.0 4862.6 2992.7 0.0 352749.1 0.0 0.0 352749.112‐2015 9612.4 8418.1 0.0 7681.2 6734.5 0.0 552041.8 0.0 0.0 552041.812‐2016 9634.9 8778.2 0.0 7696.2 7022.6 0.0 552516.6 0.0 0.0 552516.612‐2017 7584.6 6605.8 0.0 6024.3 5284.6 0.0 432791.5 0.0 0.0 432791.512‐2018 5978.0 4972.9 0.0 3093.4 1989.1 0.0 223930.1 0.0 0.0 223930.112‐2019 4772.4 3745.2 0.0 2540.4 1498.1 0.0 184240.5 0.0 0.0 184240.512‐2020 3852.0 2822.0 0.0 2115.0 1128.8 0.0 153662.3 0.0 0.0 153662.312‐2021 3047.6 2127.7 0.0 1738.2 851.1 0.0 126152.0 0.0 0.0 126152.012‐2022 1553.0 1582.1 0.0 718.1 632.9 0.0 51513.6 0.0 0.0 51513.612‐2023 1001.6 1175.6 0.0 404.4 470.2 0.0 28809.1 0.0 0.0 28809.112‐2024 406.8 473.2 0.0 163.4 189.3 0.0 11667.0 0.0 0.0 11667.012‐2025 9.8 0.0 0.0 4.5 0.0 0.0 367.6 0.0 0.0 367.6S TOT 59753.4 44793.5 0.0 42202.8 29075.3 0.0 3053423.0 0.0 0.0 3053423.0AFTER 26.0 0.0 0.0 12.0 0.0 0.0 981.1 0.0 0.0 981.1TOTAL 59779.4 44793.5 0.0 42214.8 29075.3 0.0 3054404.0 0.0 0.0 3054404.0‐‐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 75.22 0.00 0.00 0.0 2518.5 5984.0 17135.2 19100.0 ‐1964.8 ‐1877.812‐2012 74.31 0.00 0.00 0.0 4444.4 29017.8 118523.7 381301.6 ‐262777.9 ‐233254.212‐2013 74.00 0.00 0.00 0.0 5235.1 39701.2 160422.3 370.0 160052.3 126289.312‐2014 72.54 0.00 0.00 0.0 3811.1 72177.5 276760.5 68510.7 208249.8 147015.512‐2015 71.87 0.00 0.00 0.0 2771.7 116278.3 432991.8 71145.7 361846.1 233806.912‐2016 71.79 0.00 0.00 0.0 2036.2 117097.6 433382.9 280.0 433102.9 256992.112‐2017 71.84 0.00 0.00 0.0 1511.6 92582.3 338697.7 ‐1005.0 339702.7 183244.812‐2018 72.39 0.00 0.00 0.0 778.7 49312.6 173838.8 1250.0 172588.8 84604.012‐2019 72.52 0.00 0.00 0.0 524.5 41223.2 142492.8 0.0 142492.8 63499.312‐2020 72.65 0.00 0.00 0.0 435.9 34897.3 118329.1 0.0 118329.1 47934.312‐2021 72.58 0.00 0.00 0.0 361.5 29092.4 96698.1 885.0 95813.1 35271.012‐2022 71.73 0.00 0.00 0.0 284.1 11942.2 39287.3 33880.0 5407.3 1492.312‐2023 71.24 0.00 0.00 0.0 49.2 6100.7 22659.2 445.0 22214.2 6767.812‐2024 71.41 0.00 0.00 0.0 0.0 2489.4 9177.6 4480.0 4697.6 1348.112‐2025 81.95 0.00 0.00 0.0 0.0 48.8 318.9 0.0 318.9 80.1S TOT 72.35 0.00 0.00 0.0 24762.4 647945.1 2380715.8 580643.0 1800072.6 953213.4AFTER 81.95 0.00 0.00 0.0 0.0 130.1 851.0 155.0 696.0 149.4TOTAL 72.35 0.00 0.00 0.0 24762.4 648075.2 2381566.8 580798.0 1800768.5 953362.8OIL GAS P.W. % P.W., M$‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐GROSS WELLS 178.0 0.0 LIFE, YRS. 18.17 5.00 1299146.250GROSS ULT., MB & MMF 65469.273 47394.957 DISCOUNT % 10.00 10.00 953362.875GROSS CUM., MB & MMF 5689.876 2601.409 UNDISCOUNTED PAYOUT, YRS. 3.50 15.00 708779.188GROSS RES., MB & MMF 59779.395 44793.547 DISCOUNTED PAYOUT, YRS. 3.74 20.00 531887.938NET RES., MB & MMF 42214.762 29075.344 UNDISCOUNTED NET/INVEST. 4.10 25.00 401470.406NET REVENUE, M$ 3054403.750 0.000 DISCOUNTED NET/INVEST. 3.05 30.00 303697.719INITIAL PRICE, $ 71.862 0.000 RATE‐OF‐RETURN, PCT. 74.68 40.00 172032.984INITIAL N.I., PCT. 75.424 80.000 INITIAL W.I., PCT. 99.886 60.00 42250.11380.00 ‐11292.488100.00 ‐34873.680RALPH E. DAVIS ASSOCIATES, INC.F‐1529