Blackbird Energy Inc. (TSXV:BBI) announced a 522-percent increase in proven and probable reserves. They now stand at 6,484 MBOE (37 percent natural gas liquids).
Results are accurate as of January 31, 2016, and other highlights are as follows:
- Total proved plus probable reserves net present value increased 120% to $38.5 million before tax using forecast prices and costs, discounted at 10%. This significant increase in NPV10% is despite a material reduction in GLJ’s January 1, 2016 price forecast compared to their July 1, 2015 forecast.
- Total proved reserves increased 313% to 3,021 MBOE (38% NGLs).
Click here to read the full Blackbird Energy Inc. (TSXV:BBI) press release.
Get Our Expert Guide to Oil Investing FREE!
Download this FREE Special Report, Oil Investing: Oil Price Forecast and Oil Deposits Around the World
The post Blackbird Energy Reports 522-percent Rise in Proven and Probable Reserves appeared first on Investing News Network.