global energy development plc estimated future reserves and ...

GLOBAL ENERGY DEVELOPMENT PLC DATE : 02/01/2011COUNTRY OF PERU TIME : 14:29:31GRAND TOTAL DBS : DEMOPROVED 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 56.7 0.0 0.0 21.5 0.0 0.0 1580.3 0.0 0.0 1580.312‐2012 972.5 0.0 0.0 369.6 0.0 0.0 27118.4 0.0 0.0 27118.412‐2013 2384.2 0.0 0.0 903.7 0.0 0.0 66314.5 0.0 0.0 66314.512‐2014 3192.1 0.0 0.0 1205.5 0.0 0.0 88457.1 0.0 0.0 88457.112‐2015 1986.0 0.0 0.0 754.1 0.0 0.0 55333.8 0.0 0.0 55333.812‐2016 1275.5 0.0 0.0 484.7 0.0 0.0 35567.8 0.0 0.0 35567.812‐2017 883.4 0.0 0.0 335.7 0.0 0.0 24632.1 0.0 0.0 24632.112‐2018 618.3 0.0 0.0 235.0 0.0 0.0 17241.4 0.0 0.0 17241.412‐2019 432.8 0.0 0.0 164.5 0.0 0.0 12069.0 0.0 0.0 12069.012‐2020 303.0 0.0 0.0 115.1 0.0 0.0 8448.3 0.0 0.0 8448.312‐2021 208.3 0.0 0.0 79.1 0.0 0.0 5807.5 0.0 0.0 5807.512‐2022 120.8 0.0 0.0 45.9 0.0 0.0 3368.1 0.0 0.0 3368.112‐2023 45.1 0.0 0.0 17.1 0.0 0.0 1256.5 0.0 0.0 1256.512‐2024 1.7 0.0 0.0 0.6 0.0 0.0 47.1 0.0 0.0 47.112‐2025S TOT 12480.3 0.0 0.0 4732.1 0.0 0.0 347242.1 0.0 0.0 347242.1AFTER 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0TOTAL 12480.3 0.0 0.0 4732.1 0.0 0.0 347242.1 0.0 0.0 347242.1‐‐END‐‐ NET OIL NET GAS NET NGL SEVERANCE AD VALOREM NET OPER OPERATING EQUITY FUTURE NET DISC 10.0%MO‐YEAR PRICE PRICE PRICE TAXES TAXES EXPENSES CASH FLOW INVESTMENT CASH FLOW CASH FLOW‐‐‐‐‐‐‐ ‐‐‐M$‐‐‐ ‐‐‐M$‐‐‐ ‐‐‐M$‐‐‐ ‐‐‐‐M$‐‐‐‐‐ ‐‐‐‐M$‐‐‐‐‐ ‐‐‐‐M$‐‐‐‐ ‐‐‐‐M$‐‐‐‐ ‐‐‐‐‐M$‐‐‐ ‐‐‐‐‐M$‐‐‐‐ ‐‐‐‐‐M$‐‐‐‐12‐2011 73.38 0.00 0.00 0.0 0.0 90.7 1489.7 0.0 1489.7 1359.612‐2012 73.38 0.00 0.00 0.0 0.0 1556.0 25562.4 15720.0 9842.4 8423.512‐2013 73.38 0.00 0.00 0.0 0.0 3814.7 62499.7 18800.0 43699.7 34323.212‐2014 73.38 0.00 0.00 0.0 0.0 5645.3 82811.9 12800.0 70011.9 50047.212‐2015 73.38 0.00 0.00 0.0 0.0 3744.6 51589.2 0.0 51589.2 33743.812‐2016 73.38 0.00 0.00 0.0 0.0 2359.9 33207.9 0.0 33207.9 19726.912‐2017 73.38 0.00 0.00 0.0 0.0 1626.8 23005.2 0.0 23005.2 12421.012‐2018 73.38 0.00 0.00 0.0 0.0 1138.7 16102.8 0.0 16102.8 7903.812‐2019 73.38 0.00 0.00 0.0 0.0 797.1 11271.9 0.0 11271.9 5029.712‐2020 73.38 0.00 0.00 0.0 0.0 557.9 7890.4 0.0 7890.4 3200.712‐2021 73.38 0.00 0.00 0.0 0.0 384.5 5423.1 200.0 5223.1 1927.512‐2022 73.38 0.00 0.00 0.0 0.0 229.1 3139.0 1000.0 2139.0 719.812‐2023 73.38 0.00 0.00 0.0 0.0 97.2 1159.3 1000.0 159.3 53.012‐2024 73.38 0.00 0.00 0.0 0.0 6.1 41.0 200.0 ‐159.0 ‐45.712‐2025S TOT 73.38 0.00 0.00 0.0 0.0 22048.6 325193.5 49720.0 275473.5 178834.1AFTER 0.00 0.00 0.00 0.0 0.0 0.0 0.0 0.0 0.0 0.0TOTAL 73.38 0.00 0.00 0.0 0.0 22048.6 325193.5 49720.0 275473.5 178834.1OIL GAS P.W. % P.W., M$‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐GROSS WELLS 12.0 0.0 LIFE, YRS. 13.17 5.00 219776.484GROSS ULT., MB & MMF 12480.330 0.000 DISCOUNT % 10.00 10.00 178834.094GROSS CUM., MB & MMF 0.000 0.000 UNDISCOUNTED PAYOUT, YRS. 0.00 15.00 147984.828GROSS RES., MB & MMF 12480.330 0.000 DISCOUNTED PAYOUT, YRS. 0.00 20.00 124238.188NET RES., MB & MMF 4732.107 0.000 UNDISCOUNTED NET/INVEST. 6.54 25.00 105615.773NET REVENUE, M$ 347242.062 0.000 DISCOUNTED NET/INVEST. 5.66 30.00 90772.297INITIAL PRICE, $ 73.380 0.000 RATE‐OF‐RETURN, PCT. 100.00 40.00 68941.906INITIAL N.I., PCT. 38.000 0.000 INITIAL W.I., PCT. 40.000 60.00 43349.41080.00 29625.867100.00 21489.988RALPH E. DAVIS ASSOCIATES, INC.F‐1529