checkAd

    Epsilon Energy Ltd.  650  0 Kommentare News Release

    HOUSTON, TEXAS--(Marketwired - March 2, 2015) - Epsilon Energy Ltd. ("Epsilon" or the "Company") (TSX:EPS) is pleased to provide the results of its December 31, 2014 independent reserve appraisal report, EBITDA forecast for 2014 as well as a capital budget forecast for 2015. Additionally, a new corporate presentation and a technical paper co-authored by the company will be posted to the website (www.epsilonenergyltd.com).

    Highlights

    • Dec 2014 Reserves Appraisal

      • NI 51-101 Dec 2014 Proven and Probable (2P) reserves of 196.0 Bcf

      • US Format Dec 2014 Proven and Probable (2P) reserves of 197.5 Bcf

      • Full Year 2014 Net Production of 14.8 Bcf

      • 13% Year over Year growth in reserves

      • 250% Production Replacement

    • Upper Marcellus Evaluation

      • Engineering analysis of Epsilon's leasehold suggests that the Upper Marcellus reservoir properties compare favorably to those in the Lower Marcellus.

    • Corporate capex guidance of up to $20 Million for 2015

      • $8.6 million budgeted for ongoing development of midstream system

      • $1.0 million allocated to completing 14 gross (.14 net) drilled wells

      • Remaining capital considered discretionary budget to add additional wells.

    • Forecast 2014 EBITDA range of $36MM - $38MM

    Reserves

    During the last quarter of 2014 Epsilon requested that the Company's independent reserve engineering firm perform an appraisal of the Estimated Ultimate Recoverable (EUR) gas volumes on a per well basis including proven and probable categories for producing wells. This was closely followed by an appraisal of Epsilon's natural gas reserves conducted pursuant to both US standards and to National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities and the Canadian Oil and Gas Evaluation Handbook reserves definitions.

    Seite 1 von 3


    Verfasst von Marketwired
    Epsilon Energy Ltd. News Release HOUSTON, TEXAS--(Marketwired - March 2, 2015) - Epsilon Energy Ltd. ("Epsilon" or the "Company") (TSX:EPS) is pleased to provide the results of its December 31, 2014 independent reserve appraisal report, EBITDA forecast for 2014 as well as a capital …