Replies to post #1396 on Chelsea Oil and Gas Ltd. (fka COGLF)

[Fossil-Fuel]

Hi Jeff,

Thanks for posting the reserve report. Do you feel this reinforces the .80 valuation or are we over that now?

The probable natural gas and NGL reserves NPV per share, discounted at 10%, is A$0.43 per share. The probable plus possible natural gas and NGL reserves NPV per share, discounted at 10%, is A$2.58 per share.

•Net present value of Chelsea's probable natural gas and NGL reserves of A$27.6 million (2013 - A$19.9 million), and probable plus possible natural gas and NGL reserves of A$136.9 million (2013 - A$107.1 million), discounted at 10%, before income taxes

http://www.newsfilecorp.com/release/14701/Chelsea-Announces-2013-2P-Reserves-of-1.133-Million-Boe-3P-Reserves-of-6.351-Million-Boe-and-Filing-of-Annual-Information-Form#.VRwb0vnF-np