Questerre Increases Reserves by 73%
Questerre Energy has completed a mid-year update to its December 31, 2005 reserve report.
Questerre's proved and probable reserves increased by 73% to 1,567,400 boe at June 30, 2006 from 908,400 boe at December 31, 2005. Reserves at June 30, 2006 included 7.7 Bcf of natural gas and 295,000 boe of oil and natural gas liquids. The report prepared by McDaniel & Associates Consultants Ltd. ("McDaniel") utilizes McDaniel's price forecast effective July 1, 2006.
Michael Binnion, President and Chief Executive Officer of Questerre, commented, "The increased reserves primarily reflect the acquisition of Stride. Some increases are also attributable to Vulcan and Beaver River. As production history is established for these areas we expect further reserve assignments from our independent reserves consultants. In addition, with major work programs on all our key projects, I look forward to reporting additional increases on our December 31, 2006 report."
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- Testing Commences on St. Edouard Horizontal Well (Feb 02)