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Wednesday, August 04, 2021 3:07:19 PM
If you are new to oil & gas investments or are unsure what that means:
1) Proven reserves sit at the top of the scale, at a 90-percent or above likelihood of commercial extraction.
2) Probable reserves are those with the likelihood of recovery for between possible and proved reserves, or over 50-percent but under 90-percent.
2) Probable reserves are those with the likelihood of recovery for between possible and proved reserves, or over 50-percent but under 90-percent.
Now that you know what they mean let’s look at what AGYP’s leases have reported:
The Green Lease:
Proved: $2,026,500
Probable: $5,781,300
Possible: $12,755,300
TOTAL: $20,563,100
The Annie Gilmer Lease:
Proved: $6,704,900
Probable: $1,902,200
Possible: $3,587,700
TOTAL: $12,194,800
Let’s add these numbers up for some perspective on the total potential of these leases:
>> Total Proved: $8,731,400
>> Total Probable: $7,683,500
>> Total Possible: $16,343,000
GRAND TOTAL: $32,757,900
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