Highlights of the economic adjustment contained in the Update include:
- Adjusted Company reserves at Mitsue are 660.2 Mboe Total Proved (TP) and 1,597.0 Mboe Total Proved plus Probable (P+P).
- To November 1, 2009 Exall added 169.5 Mboe of TP reserves and 569.1 Mboe of P+P reserves.
- The adjusted Net Present Value (NPV) of the P+P reserves at Mitsue is $37.9 million, discounted at 10 percent, before tax, utilizing the AJM price forecast effective September 30, 2009 (See Note 1 below).
