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Silver Mining
HydroFlame Technology
Oil and Gas E&P
The Group is currently operating an upstream oil and gas exploration and production project in East Texas, the United States. Up to 31 December 2015, the Company has invested over US$16 million in the project and has secured leases over 7,500 acres. According to a report issued by an independent technical expert, as of 1 January 2015, the aggregate of the total proved, probable, and possible (“3P”) net reserves for natural gas amounted to approximately 67.95 billion cubic feet, the aggregate of the total 3P reserves of natural gas liquids amounted to approximately 1.80 million Bbls, and the aggregate of the total 3P reserves of oil amounted to approximately 776 thousand Bbls. There are two wells currently in production. The Company will continue to secure leases in the region and to drill further new wells when oil prices rebound.
Natural gas
(million cubic feet)
Natural gas
liquid (NGL)
(thousand bbl)
Oil
(thousand bbl)
As at 1 January 2015
Proved reserves 16,986.89 449.67 191.67
Probable reserves 19,621.22 519.40 225.02
Possible reserves 31,342.41 829.67 359.46
67,950.52 1,798.74 776.15
Actual output in 2015 688.36 23.62 8.52
As at 31 December 2015
Proved reserves 16,298.53 426.05 183.15
Probable reserves 19,621.22 519.40 225.02
Possible reserves 31,342.41 829.67 359.46
67,262.16 1,775.12 767.63

Note: The above information are extracted from reserve report issued by Cawley Gillespie & Associates Inc. on 3 March 2015 after deduction of actual output up to 31 December 2015 based on Craton’s record.

 
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