Breaker Energy reported that it grew its reserves in 2007 by 44% to 18.0 million boe. The Company achieved strong per share reserves and net asset value growth on a cost effective basis.
Through maintaining fiscal discipline and selecting quality capital investment opportunities, Breaker is pleased to report the following results for 2007: growth in proved plus probable light oil reserves per fully diluted share increased 112% and growth in proved reserves per fully diluted share increased 49%.
The results presented above are based on unaudited, estimated total capital expenditures for 2007 of $62.5 million and unaudited, estimated 2007 production totaling 1,608,463 boe or an average of 4,407 boe/d, and forecast pricing (Sproule December 31, 2007).
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