www.oilexco.com/upload/news/231/01/02-13-09
Oilexco Incorporated (“Oilexco”) is pleased to announce its reserves for the year ended December 31, 2008.
Increases in 2P and 3P reserves were a result of successful exploration and appraisal activities undertaken by the Company in 2008. Factors offsetting increases to reserves and Net Present Values for the year ending December 31, 2008 compared to the previous year included significant production from the Company’s Brenda/Nicol fields and a large decrease in the forecasted price of oil used by the evaluators.
Oilexco Incorporated (“Oilexco”) is pleased to announce its reserves for the year ended December 31, 2008.
Increases in 2P and 3P reserves were a result of successful exploration and appraisal activities undertaken by the Company in 2008. Factors offsetting increases to reserves and Net Present Values for the year ending December 31, 2008 compared to the previous year included significant production from the Company’s Brenda/Nicol fields and a large decrease in the forecasted price of oil used by the evaluators.