Anterra Energy Announces 2014 Year-End Results and Reserves
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 04/30/15 -- Anterra Energy Inc. ("Anterra" or the "Company") (TSX VENTURE: AE.A) announces financial and operating results for the three months and year ended December 31, 2014, together with year-end reserve evaluations. Selected information presented below should be read in conjunction with the Company's audited financial statements and related management discussion and analysis for the year ended December 31, 2014, and the Company's Statement of Reserves Data as of December 31, 2014, available on SEDAR at and on the Company's website at .
RESERVES
Anterra's proved plus probable oil and gas reserves increased to 6.0 million barrels of oil equivalent at December 31, 2014; an increase, net of production for the year, of 6% over reserves at December 31, 2013.The Company added 774 Mboe of reserves at Nipisi, primarily through extensions and improved recovery, which more than offset production and negative economic revisions relating to other properties. The Nipisi property was acquired in December of 2013.
Despite the overall increases in reserves, the Net Present Value ("NPV") of the Company's reserves at December 31. 2014, discounted at 10%, decreased approximately 32% to $57.5 million from 2013. The decrease in NPV is primarily the result of the significant reduction in crude oil prices at December 31, 2014 compared as to December 31, 2013.
The Company's reserves were evaluated by the independent reserves evaluator Deloitte LLP in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluation Handbook ("COGE Handbook") and National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Additional reserve information as required under NI 51-101 is available on SEDAR at . A summary of the Company's reserves and the net present value of future net revenue from those reserves, at December 31, 2014, is presented below:
Company Interest Reserves - Forecast Pricing (1) (2)
OPERATIONS
Summary of Financial and Operating Results
About Anterra Energy Inc.
Anterra is an independent oil focused junior exploration and production company with an expanding presence in the Western Canadian Sedimentary Basin. The Company is actively engaged in the acquisition, development and production of oil and natural gas complemented by the operation of fee-based midstream facilities. Anterra is headquartered in Calgary, Alberta, is listed and trades on the TSX-V under the symbol "AE.A". Additional information is available on the Company's website at .
Reader Advisories
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.
Selected Financial Information and Non-GAAP Measures
Selected financial and other information for the three and twelve month periods ended December 31, 2014 and 2013 is set out above and includes non-GAAP measures. This information should be read in conjunction with the audited financial statements for the year ended December 31, 2014 and the Company's management discussion and analysis ("MD&A"), available under the Company's profile on the SEDAR website at . Further information relating to the non-GAAP measures is contained in the Company's MD&A.
Forward-Looking Information
Certain information in this News Release constitutes forward-looking statements or information (collectively referred to herein as "forward-looking statements") within the meaning of applicable securities legislation. Forward-looking statements are usually identified by the words "believe", "anticipate", "expect", "plan", "estimate", "target", "continue", "could", "intend", "may", "potential", "predict", "should", "will", "objective", "project", "forecast", "goal", "guidance", "outlook", "effort", "seeks", "schedule" or expressions of a similar nature suggesting future outcome or statements regarding an outlook. In particular, forward-looking statements include:
Statements relating to Anterra's crude oil and natural gas reserves and net present values.
Forward-looking statements are not guarantees of future performance and the reader should not place undue reliance on these forward-looking statements as there can be no assurances that the assumptions, plans, initiatives or expectations upon which they are based will occur. In addition, forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Such factors include, among others: general economic and business conditions; the price of and demand for oil and natural gas and their effect on the economics of oil and gas exploration; fluctuations in currency and interest rates and their effect on projected profitability of the Company's operations; the ability of the Company to implement its business strategy, including exploration and development plans; the impact of competition and in particular the ability of the Company to maintain its land position in a competitive leasing environment; the availability and cost of seismic, drilling, completions and other equipment; the Company's ability to secure adequate transportation and markets for any oil or gas discovered; drilling and operating hazards and other difficulties inherent in the exploration for and production and sale of oil and natural gas; the availability and cost of financing; the success of any exploration and development undertaken; actions by governmental authorities; and, changes in government regulations and the expenditures required to comply with them (including, but not limited to, the changes in taxes or the royalty or other share of production taken by governmental authorities). Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this News Release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
BOE Presentation
Production volumes and reserves are commonly expressed on a barrel of oil equivalent ("boe") basis whereby natural gas volumes are converted at the ratio of six thousand cubic feet of gas equal to one barrel of oil, based on an energy equivalency at the burner tip and does not represent a value equivalency at the wellhead. Used in isolation, barrels of oil equivalent may be misleading.
Contacts:
Dr. Gang Fang
Chairman and Chief Executive Officer
Telephone: (403) 215-2383
Facsimile: (403) 261-6601
E-mail:
Norm Knecht, CA
Vice President Finance and CFO
Telephone: (403) 215-3286
Facsimile: (403) 261-6601
E-mail:
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 30.04.2015 - 20:56 Uhr
Sprache: Deutsch
News-ID 390050
Anzahl Zeichen: 0
contact information:
Town:
CALGARY, ALBERTA
Kategorie:
Oil & Gas
Diese Pressemitteilung wurde bisher 214 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Anterra Energy Announces 2014 Year-End Results and Reserves"
steht unter der journalistisch-redaktionellen Verantwortung von
Anterra Energy Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
