Exploration & Production
Yoho Resources Almost Doubles 2P Reserves
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Yoho Resources Inc. has announced the results of its independent reserve evaluation for the year ended September 30, 2013 as prepared by GLJ Petroleum Consultants Ltd.
HighlightsYoho’s proved plus probable reserves as evaluated by GLJ as at September 30, 2013 increased 92% to 52.7 MMboe from 27.4 MMboe at September 30, 2012. The Company’s proved reserves as at September 30, 2013 increased 9% to 11.8 MMboe from 10.8 MMboe.
The net present value of total proved reserves as at September 30, 2013 is $90.5 million.
Net exploration and development expenditures for fiscal 2013 are estimated to be $26.9 million. During the year ended September 30, 2013, Yoho drilled 2 (1.5 net) gas wells.
Reserve replacement was 220% on proved reserves and 3,064% on proved plus probable reserves.
For fiscal…
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