Exploration & Production

Anterra Reports Reserves Increase in 4Q 2013

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Anterra Energy Inc. has reported that its oil and gas reserves as at December 31, 2013 increased 3.3 million barrels of oil equivalent (MMboe) or 136% over December 31, 2012 year-end reserves, on a proved plus probable basis.

Year-end 2013 reserves increased 1.7 MMboe or 154% on a Proved basis over year-end 2012 reserves. The year-over-year increases are primarily the result of two significant acquisitions during the year that added 1.9 MMboe of Proved and 3.5 MMboe of Proved plus Probable reserves at a cost of $11.20 per Proved boe, $6.21 per Proved plus Probable boe.

Highlights

Increased Proved plus Probable Oil and NGL reserves by 143% to 5.1 million barrels over December 31, 2012 reserves of 2.1 million barrels.
Oil and NGLs make up 90% of the Company's Proved reserves and Proved plus Probable reserves.
Total Proved reserves represent 50.4% of Proved plus Probable reserves at year-end 2013.
The Net Present Value of Future Net Revenue before income tax, discounted at 10%, increased 118% to $47.9 million on a Proved basis, and increased 134% to $84.6 million on a Proved plus Probable basis.



The Company's reserves were evaluated by independent reserves evaluator Deloitte LLP in compliance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook (COGE Handbook) and National Instrument 51-101, Standards of Disclosure For Oil and Gas Activities (NI 51-101).