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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
Adjustments based on acreage held
Proved reserves [3,611.92] [95.61] [41.42]
Probable reserves [11,455.36] [303.24] [131.37]
Possible reserves [22,534.33] [596.51] [258.44]
  [37,601.61] [995.36] [461.23]
Actual output in year 2015 [688.36] [23.62] [8.52]
Actual output in year 2016 [389.71] [14.08] [4.49]
Actual output in the 6-month period
    ended 30 June 2017
[133.34] [5.57] [1.44]
  [1,211.41] [43.27] [14.45]
As at 30 June 2017
Proved reserves 12,163.56 310.79 135.80
Probable reserves 8,165.86 216.16 93.65
Possible reserves 8,808.08 233.16 101.02
29,137.50 760.11 330.47

Note: The above information are extracted from reserve report issued by Cawley, Gillespie & Associates Inc, on 3 March 2015 after adjustments based on acreage held and dedution of actual output up to 30 June 2017 based on Craton's record.




 
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