 |
Estimated Net Remaining Proved Undeveloped Reserves*
American Petroleum Corporation As of January 1, 2005
Lease |
Oil Volumes (net bbls) |
Present Value ($disc @10%)**
|
City National Bank 018191 |
21,271 |
57,865 |
Climax C 017241 |
6,213 |
6,801 |
Cowan&McKinney 020057 |
43,036 |
120,906 |
Cowen 018323 |
32,240 |
10,222 |
Lilly Hooks 005716 |
152,925 |
440,485 |
Lochridge 005239 |
74,760 |
203,699 |
Morgan F D 013076 |
85,792 |
237,396 |
Meldon White 000697 |
159,955 |
349,693 |
TOTAL |
576,192 |
1,427,067 |
* Estimation performed by Gleason Engineering
** Estimation based on $40 p/barrel.
Current total estimation at $60 pbbl is $2,140,600.50
Future reserve volume of each well is estimated after the deduction of production taxes, the normal direct costs of operating the wells, ad valorem taxes, recompletion costs, and development costs.
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