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BRIEF-Questerre: Gross reserves grew by over 20 pct in 2016
February 24, 2017 / 8:09 AM / 7 months ago

BRIEF-Questerre: Gross reserves grew by over 20 pct in 2016

OSLO, Feb 24 (Reuters) - Canada oil and gas firm Questerre:

* Corporate total proved plus probable gross reserves grew by over 20 pct or 3.4 MMBoe from 12.92 MMBoe to 15.78 MMBoe, net of production during the year

* This growth has been entirely in the Montney which currently represents approximately 90 pct of our total reserves

* The before tax NPV-10 pct estimated for the corporate proved and probable reserves using McDaniel’s year-end 2016 price forecast is $155.59 million

* Reserves Assessment and Evaluation of its oil and natural gas properties, as evaluated by McDaniel & Associates Consultants Ltd. with an effective date of December 31, 2016

* Plans to participate in up to 8 (2.0 net) additional wells at Kakwa in 2017For full Q4 report: file:///C:/Users/U8018554/Downloads/170223_QEC_Press_Release.pdf

Reporting By Ole Petter Skonnord

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