Shoreline Ups Wattenberg Reserves Value to $141MM
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Shoreline Energy Corp. has reported the results of an independent reserves evaluation of a previously announced acquisition of two non operated working interest asset packages in the Wattenberg Field of Colorado.
The transaction closed on February 19, 2013.
The reserves evaluation was conducted by DeGolyer and McNaughton (D&M) in accordance with National Instrument 51-101 (NI 51-101).
The February Acquisitions increase Shoreline's corporate reserves by 18% on a Total Proved (TP) basis and 19% on a Proved plus Probable (2P) basis, and increases corporate reserve value to over $97 million TP and $141 million on a 2P basis(1). The February acquisitions immediately increase Shoreline's oil production weighting via eight gross (0.6 net) new Niobrara horizontal wells which are now on…
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