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Re: None

Thursday, 02/07/2013 10:27:46 PM

Thursday, February 07, 2013 10:27:46 PM

Post# of 71458
Gawd that's a monstrous amount of oil for a little company like this.

The 2012 Reserve and Economic Evaluation on Vermilion Block 179, issued by James F Hubbard Petroleum Consultant (JFH) of New Orleans, LA, shows Gross Proved Reserves of 784.3 Thousand Barrels (Mbbl) of Oil and 2,215.4 Million Standard Cubic Feet (MMSCF) of Gas, and Net Proved Reserves of 407.6 Mbbl Oil and 1,151.5 MMSCF Gas with a Projected Future Net Revenue of $36.7 million and a Discounted Future Net Income of $20.3 million (PV-10). The report also shows Combined Gross Total Reserves for VM 179, both Proved and Probable, of 2,129.7 Mbbl Oil and 4,237.9 MMSCF Gas, and Net Total for all reserves of 1,106.9 Mbbl Oil and 2,202.7 MMSCF Gas with a Projected Future Net Revenue of $97.7 million and a Discounted Future Net Income of $55.1 million (PV-10). The Gross Reserves referenced above are to 100% working interest in the lease. The Net Reserves and all income data are to the net interests owned by Worthington. Appropriate deductions have been made for royalties and overriding royalties.



I'll admit the crazy circumstances broke me. I lost hope and expunged most of my shares at an embarrassingly low price...most, but not all. Glad I still have something for tomorrow though, and I'm glad for everyone who hung in there through thick and thin.

Send PM's to molecularcd. It's a yahoo dot com address.

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