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Re: Evolution Petroleum Reports Fiscal Year-end 2009 Reserves      9-Sep-09 11:58 am    
I also believe this may have caught the eye of some.

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"Also a first, Evolution engaged DeGolyer & MacNaughton (D&M), independent reservoir engineers, to evaluate its interests in the Delhi Field EOR project being operated by a subsidiary of Denbury Resources. D&M assigned 13.6 MMBO of probable oil reserves, net to Evolution, with a pre-tax PV-10 of $196.6 million ($6.07 per fully diluted share). The Company believes that there is additional upside potential through a limited EOR severance tax abatement."

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People who have not followed EPM probably do not realize that the Delhi probable reserves will be listed as proved reserves under the new rules approved by the SEC. Those new rules go into effect Jan. 1, 10. Therefore when DNR reports in January they will show proved reserves even if they do not yet show proof of production.

bob
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sixers_37


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  Subject Author Rating Time of Post (ET)  
 
HOUSTON, Sept. 9 /PRNewswire-FirstCall/ -- Evolution Pe...
seaohtoo (1 Rating) 9-Sep-09 10:18 am  
 
This report and getting the CO2 injection started ...
theubiquito... Rate it 9-Sep-09 11:24 am  
 
Proved reserves are down, so there is nothing...
jbcguy (1 Rating) 9-Sep-09 11:29 am  
 
Re: Evolution Petroleum Reports Fiscal Year-end 2...
sixers_37 (1 Rating) 9-Sep-09 11:58 am  
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Evolution Petroleum Corp. (EPM)

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