Exploration & Production | Reserves
Marsa Energy Announces Turkish Reserve Report
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Marsa Energy Inc. has announced the results of an independent reserves and economic evaluation of the Company's Poyraz Ridge field in the Ortakoy Block by DeGolyer and MacNaughton effective November 30, 2014.
This report marks a major Company milestone with the recognition of reserves for the first time on the Ortakoy Block highlighted by Proved plus Probable reserves of 21.2 billion cubic feet of gas having a net present value (after Turkish income taxes) at 10% discount rate of $85.7 million US (approximately $100 million Canadian). The Company is also pleased to announce the results of a prospective resource evaluation of the Eocene formations on the entire Ortakoy block by D&M effective December 31, 2014 along with the testing results of the Poyraz S4-1 and Poyraz N3-1 wells that were…
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