Orleans Energy reports Year-End Corporate Reserves
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Orleans Energy Ltd. (TSX:OEX) provided information on its oil and gas reserves as of December 31, 2009, as evaluated by the Company’s independent reserve engineering firm, Sproule Associates Limited.
The press release is quoted as saying:
Orleans’ total proved plus probable oil and gas reserves expanded to approximately 20 million boe, an 11% increase over the 18.0 million boe at December 31, 2008 and increased the Company’s Montney proved plus probable reserves recognition at Kaybob by 31% to 14.19 million boe, as compared to 10.81 million boe booked at December 31, 2008.The 2010 Capital Budget includes the drilling of eleven wells (9.6 net), including six (4.8 net) horizontal wells at Kaybob and three (3.0 net) horizontal locations at Waskahigan, both targeting the Triassic Montney formation.
Click here to access the entire press release
Click here to access Orleans Energy Corporate Site
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