Calvalley Issues Yemen Resource Estimate
Posted: 11 December 2006
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Calvalley Petroleum Inc., an international junior oil and gas company based in Calgary , Alberta , reported that McDaniel & Associates Consultants Ltd. recently completed a resource estimate for Block 9 (100%) in the Republic of Yemen , some of the key results of which are highlighted below.
Based on a P50 analysis the original oil in place ("OOIP") in the Hiswah field is estimated to be approximately 283.49 million barrels, while the Al-Roidhat field is estimated, again based on a P50 analysis, to contain approximately 44.62 million barrels OOIP.
Two additional discoveries (Auqban and Ras Noor) were assessed based on a single exploration well in each discovery. The P50 OOIP is estimated at approximately 4 million barrels.
For the existing discovered oil fields, the total P50 OOIP is estimated to be 332.2 million barrels.(The terminology of P50 is the confidence level which is consistent with the Canadian reserves definitions for proved plus probable reserves)
An additional 8 independent exploration prospects and 12 independent exploration leads were also assessed, resulting in an additional Unrisked Mean OOIP of 1.93 billion barrels, and Unrisked Mean OGIP of approximately 16 Bcf. The analysis represents estimates of potential oil and gas in place for the prospects and leads identified to date from the existing seismic and geological data.
Calvalley is the operator and owns 50 % interest in the Block 9. |
