Exploration & Production | Operational Updates
Tamarack Ups Reserves by 98%; Credits Cardium, Viking
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Tamarack Valley Energy Ltd. has reported the results of its independent reserves evaluation as at December 31, 2012.
2012 Year-end Reserve HighlightsThe results presented below use unaudited 2012 year-end net debt of approximately $47.5 million, issued and outstanding shares of 29,706,752 at December 31, 2012 and capital expenditures of approximately $36 million and $96 million including the Echoex Ltd. corporate acquisition. All reserves comparisons relating to 2012 and 2011 are as at December 31, for each respective year. Reserves figures contained in the independent reserve evaluation, were prepared in accordance with NI 51-101 as at December 31, 2012 by GLJ Petroleum Consultants Ltd. (GLJ), Tamarack''s independent reserves evaluator.
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