Kallisto Releases Independent Reserve Evaluation Results
26 Marzo 2013 - 5:00PM
Marketwired Canada
Kallisto Energy Corp. (TSX VENTURE:KEC) ("Kallisto" or the "Company") is pleased
to provide the results of the independent evaluation of the Company's oil and
natural gas reserves effective as of December 31, 2012. The reserve evaluation
was completed by McDaniel & Associates Consultants Ltd. ("McDaniel") and
includes the properties acquired through the acquisition of Cumberland Oil & Gas
Ltd. McDaniel was Cumberland's historic reserve evaluator.
The following is a summary of Kallisto's December 31, 2012 and December 31, 2011
reports:
----------------------------------------------------------------------------
Total Company Reserves and Net Present Value as of December 31, 2012 (1)
----------------------------------------------------------------------------
Gross
Gross Natural Gas Net Present Net Present
Gross Oil Natural Gas Liquids Value @ 10% Value @ 15%
Reserves Reserves Reserves ($M, before ($M, before
(Mbbl) (MMcf) (Mbbl) income tax) income tax)
----------------------------------------------------------------------------
Proved 487.2 1,283.8 26.7 16,523.4 13,887.4
----------------------------------------------------------------------------
Probable 299.8 492.2 12.2 5,737.7 4,132.5
----------------------------------------------------------------------------
Total 787.1 1,776.0 38.9 22,261.1 18,019.9
----------------------------------------------------------------------------
(1) Using forecast prices and costs as evaluated by McDaniel & Associates
Consultants Ltd. on March 7, 2013. Columns may not add due to rounding.
----------------------------------------------------------------------------
Total Company Reserves and Net Present Value as of December 31, 2011 (2)
----------------------------------------------------------------------------
Gross
Gross Natural Gas Net Present Net Present
Gross Oil Natural Gas Liquids Value @ 10% Value @ 15%
Reserves Reserves Reserves ($M, before ($M, before
(Mbbl) (MMcf) (Mbbl) income tax) income tax)
----------------------------------------------------------------------------
Proved 431.7 3,185.0 76.2 16,469.0 12,934.0
----------------------------------------------------------------------------
Probable 139.0 1,791.0 38.6 5,229.0 3,637.0
----------------------------------------------------------------------------
Total 570.7 4,976.0 114.8 21,697.0 16,571.0
----------------------------------------------------------------------------
(2) Using forecast prices and costs as evaluated by Sproule Associates
Limited on March 16, 2012. Columns may not add due to rounding.
Kallisto will include its NI 51-101 report in its Annual Information Form, which
is expected to be filed in the coming weeks.
Kallisto is a Calgary-based junior resource company engaged in the exploration,
development and production of oil and natural gas in Alberta.
Forward Looking Information
The reader is advised that some of the information contained herein may
constitute forward looking statements within the meaning assigned by National
Instrument 51-102 and other relevant securities legislation. It includes, but is
not limited to, statements with respect to the estimated value of the Company's
oil and natural gas reserves and the expected timing of the filing of its Annual
Information Form. Forward-looking information is frequently characterized by
words such as "plan", "expect", "project", "intend", "believe", "anticipate",
"estimate", "scheduled", "potential", or other similar words, or statements that
certain events or conditions "may", "should" or "could" occur. Forward-looking
information is based on the Company's expectations regarding its future growth,
results of operations, production, future capital and other expenditures
(including the amount, nature and sources of funding thereof), competitive
advantages, plans for and results of drilling activity, environmental matters,
business prospects and opportunities. Such forward-looking information reflects
management's current beliefs and assumptions and is based on information
currently available to it. The reader is cautioned that assumptions used in the
preparation of such information, although considered reasonable by the Company
at the time of preparation, may prove to be incorrect and readers are cautioned
not to place undue reliance on forward-looking information, which speaks only as
of the date hereof. The Company does not undertake any obligation to release
publicly any revisions to forward-looking information contained herein to
reflect events or circumstances that occur after the date hereof or to reflect
the occurrence of unanticipated events, except as may be required under
applicable securities laws.
Forward-looking information involves significant known and unknown risks and
uncertainties. A number of factors could cause actual results to differ
materially from the results discussed in the forward-looking information
including risks associated with the impact of general economic conditions,
industry conditions, governmental regulation, volatility of commodity prices,
currency fluctuations, imprecision of reserve and resource estimates,
environmental risks, competition from other industry participants, the lack of
availability of qualified personnel or management, stock market volatility and
the Corporation's ability to access sufficient capital from internal and
external sources. Additional risks and uncertainties are described in the
Company's Annual Information Form dated May 22, 2012 which is filed on SEDAR at
www.sedar.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kallisto Energy Corp.
Robyn Lore
President and Chief Executive Officer
(403) 237-9996
(TSXV:KEC)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
(TSXV:KEC)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024
