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As at December 31, 2007
Bankers' reserves were prepared by the independent engineering firms of RPS Energy Canada Ltd. (formerly APA Petroleum Engineering Inc.) in 2007 as well as prior years for Albania. The U.S. reserve report was prepared by MHA Petroleum Consultants, Inc. Reserves included herein are stated on a company gross interest basis (after royalties). All reserve information has been prepared in accordance with National Instrument 51-101.
2007 Reserve Evaluation - Forecast Price
2007 NPV of Reserves - Forecast Price, Before Income Taxes
2007 NPV of Reserves - Forecast Price, After Income Taxes
The Company's actual reserves and future production will be greater than or less than the estimates provided. The estimated future net revenue from the production of the Company's reserves does not represent the fair market value of Bankers' reserves. The reserve data in this release is subject to and should be read in conjunction with the entire Form 51-101F1 - Statement of Reserves Data and Other Oil and Gas Information.
Summary of Oil and Gas Reserves
Forecast Prices and Costs
All amounts in the following table represent Bankers' working interest before royalties.
Note: May not add due to rounding
Boe basis: 6,000 mcf to 1 boe
* All 2006 reserves relate to Albania
Net Present Value of Reserves
Forecast Prices and Costs - Before Income Taxes
Note: May not add due to rounding
Net Present Value of Reserves
Forecast Prices and Costs - After Income Taxes
Note: May not add due to rounding
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