Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - Glori Energy Inc. | Financial_Report.xls |
| EX-32.1 - EXHIBIT 32.1 - Glori Energy Inc. | gloriexhibit3211.htm |
| EX-31.1 - EXHIBIT 31.1 - Glori Energy Inc. | gloriexhibit3111.htm |
| EX-32.2 - EXHIBIT 32.2 - Glori Energy Inc. | gloriexhibit3221.htm |
| EX-31.2 - EXHIBIT 31.2 - Glori Energy Inc. | gloriexhibit3121.htm |
| EX-14.1 - EXHIBIT 14.1 - Glori Energy Inc. | a141codeofethics.htm |
| EX-23.2 - EXHIBIT 23.2 - Glori Energy Inc. | gloriholdingsconsentletter.htm |
| EX-23.1 - EXHIBIT 23.1 - Glori Energy Inc. | a231fy2014gloriauditconsent.htm |
| EX-99.2 - EXHIBIT 99.2 - Glori Energy Inc. | a991collarinireport01-01x15.htm |
| 10-K - 10-K - Glori Energy Inc. | glri1231201410-k.htm |
| EX-23.3 - EXHIBIT 23.3 - Glori Energy Inc. | a233consentofcobb.htm |
WILLIAM M. COBB & ASSOCIATES, INC.
Worldwide Petroleum Consultants
12770 Coit Road, Suite 907 Dallas, Texas | (972) 385-0354 Fax: (972) 788-5165 E-Mail: office@wmcobb.com |
February 9, 2015
Mr. Tor Meling
Glori Energy, Inc.
4315 South Drive
Houston, TX 77053
Dear Mr. Meling:
As requested, William M. Cobb & Associates, Inc. (Cobb & Associates) has estimated the proved developed producing (PDP) reserves and future net income as of January 1, 2015, attributable to certain oil and gas properties owned by Glori Energy, Inc. (Glori). The properties are located in the Coke and Quitman fields in Wood County, Texas. This report was completed on February 9, 2015.
Table 1 summarizes our estimate of the PDP oil and gas reserves and their pre-federal income tax value undiscounted and discounted at ten percent. These estimates were prepared in accordance with the definitions and regulations of the U.S. Securities and Exchange Commission (SEC) and, with the exception of the exclusion of future income taxes, conform to the FASB Accounting Standards Certification Topic 932, Extraction Activities – Oil and Gas.
The values shown were determined utilizing constant oil and gas prices and operating expenses.
Table 1 | ||||||||||||
Glori Energy, Inc. - Net Reserves and Value | ||||||||||||
In Certain Properties in Coke and Quitman Fields as of | ||||||||||||
January 1, 2015 | ||||||||||||
Net Reserves | Future Net Pre-Tax Income | |||||||||||
Reserve Category | Oil (MBBL) | Gas (MMCF) | Undiscounted (M$) | Discounted at 10% (M$) | ||||||||
PDP | 1,386.6 | 53.5 | 46,803 | 29,755 | ||||||||
Oil volumes, which include condensate, are expressed in thousands of stock tank barrels (MBBL). A stock tank barrel is equivalent to 42 United States gallons. Gas volumes are expressed in millions of standard cubic feet (MMCF) as determined at 60 degrees Fahrenheit and the legal pressure base for the specific location of the gas reserves.
Mr. Tor Meling
Glori Energy, Inc.
February 9, 2015
Page 2
All the proved reserves in this report are attributable to producing wells; therefore, they are classified as PDP. As requested, probable and possible reserves that may exist for these properties have not been included. This report does not include any value that could be attributable to interests in undeveloped acreage.
The future income values shown in Table 1, or in other portions of this report, are not intended to represent an estimate of fair market value. The estimates of reserves and future revenue have not been adjusted for risk.
Glori indicated their estimate of total proved reserves for properties not included in this report was
15 MBO. Therefore, the PDP oil reserves in this report (1,387 MBO) comprise over 98.9 percent of
Glori’s total proved oil reserves.
Cash Flow Projections
A summary projection of total PDP net reserves and future net cash flow is attached to this report. Cash flow projections for each individual PDP property included in this report follow this summary. Also included is a table listing all properties which provides information for individual wells regarding field, reservoir, gross and net remaining reserves, net revenue, operating expense including tax, investment, undiscounted net income, and net income discounted at 10.0 percent.
Prices used in this report are based on the 12-month unweighted arithmetic average of the first-day-of- the-month price for each month in the period January through December 2014. The average West Texas Intermediate spot price was $94.99 per barrel. The average Henry Hub spot price was
$4.30 per MMBTU. All prices were held constant for the life of the property. Product prices were adjusted for quality, energy content, transportation fees, and regional price differentials.
Based on the revenue statements provided by Glori, the 2014 realized gas price for the Coke field was
85 percent of Henry Hub. Quitman has no gas sales. The oil differential for both the Coke and Quitman field is zero. Effective August, 2014, Glori signed a contract with Lion Oil Trading and Transportation to sell all oil produced from these properties at the “CMA (calculated monthly average) NYMEX plus $0.00”. The contract will “continue month to month unless terminated by either party”. After applying appropriate product differentials, the average realized oil and gas price for 2015, for all properties, was $94.99 per barrel and $3.65 per MCF.
Operating expenses for each of the properties were calculated using monthly information Glori provided from April thru November, 2014. Operating statements, prior to Glori acquiring the properties from Petro Hunt, were not available. The operating costs included district overhead and recurring workover expense. The operating costs, which were applied as a fixed $/well/month, were held constant for the life of each property.
Cash flow is defined as revenue after deduction of state severance tax, ad valorem tax, operating cost, and capital cost. The environmental consequences, if any, caused by Glori or any other operator have not been considered, nor has the cost to restore the property to acceptable conditions, as may be
Mr. Tor Meling
Glori Energy, Inc.
February 9, 2015
Page 3
required by regulation, been taken into account. All economic projections are before federal income taxes and do not include any debt service incurred by Glori.
None of the values are intended to represent an estimate of fair market value. None of the values have been adjusted for risk.
The working and revenue interests evaluated in this report were provided by Glori. These projections are based on Glori receiving the net revenue interest share of estimated future gross production. The estimates of reserves and future revenues do not include adjustments for the settlement of any historical production imbalances.
Reserve Methodology
The reserves in this report have been estimated using deterministic methods, and have been prepared in accordance with the Standards Pertaining to the Estimating and Auditing of Oil and Gas Reserves Information promulgated by the Society of Petroleum Engineers (SPE Standards). We have used all assumptions, data, methods and procedures considered necessary and appropriate to prepare this report.
Estimates of remaining reserves for all the properties in this report were prepared using performance trend analysis of production data. PDP reserves are attributable to mature producing properties with identifiable decline trends; therefore, the deliverability forecasts are based on these historical performance trends. Future production volumes were forecasted after evaluating graphs of rate vs time, rate vs cumulative production, and percent water production.
Property Discussion
All the properties in this report are located in the Coke and Quitman fields in Wood County, Texas. The Coke Field properties produce from the Paluxy, Sub-Clarksville, and Hill reservoirs. The Quitman Field properties produce from the Paluxy reservoir.
Coke Field - Over 90 percent of the total PDP value presented in this report is attributable to 12 leases (21 wells) producing from the Paluxy reservoir at a depth of 6,300 feet. The top value lease contributes 25 percent of the value. The top four leases comprise 72 percent of the company’s total PDP value.
Current production for all 12 Paluxy leases averages about 435 BOPD, 57,900 BWPD, and 25 MCFD. The Paluxy reservoir has produced with a natural water drive since discovery in 1942; therefore, present water-cut for most of the producing wells is greater than 99 percent. Most of the wells are on electric submersible pumps (ESP) to handle the high produced water volumes. Glori operates most of the active leases in the Paluxy and has a working interest of 100 percent in all the wells they operate. Net revenue interest for the majority of these leases exceeds 87.5 percent.
Production from the other three leases (four wells) in the Coke field is from the Sub-Clarksville and
Hill reservoirs. These wells are marginal producers and have insignificant value.
Mr. Tor Meling
Glori Energy, Inc.
February 9, 2015
Page 4
Quitman Field - About 10 percent of the total PDP value presented in this report is attributable to
three leases (five wells) producing from the Paluxy reservoir in Quitman Field. The top value lease in this field contributes 9.5 percent of the company's value.
Glori operates all five wells which are producing a total of 98 BOPD and more than 1,300 BWPD. No
gas sales were reported.
Professional Guidelines
Proved oil and gas reserves are the estimated quantities of crude oil, natural gas, and natural gas liquids, which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years, from known reservoirs under expected economic and operating conditions. Reserves are considered proved if economic productivity is supported by either actual production or conclusive formation tests.
The reserves included in this report are estimates only and should not be construed as being exact quantities. Governmental policies, uncertainties of supply and demand, the prices actually received for the reserves, and the costs incurred in recovering such reserves, may vary from the price and cost assumptions in this report. Estimated reserves using price escalations may vary from values obtained using constant price scenarios. Our estimates are based upon the assumption that the properties will be operated in a prudent manner and that no government regulations and controls will be instituted that would impact the ability to recover the reserves. In any case, estimates of reserves and revenues may increase or decrease as a result of future operations.
Cobb & Associates has not examined titles to the appraised properties nor has the actual degree of interest owned been independently confirmed. The data used in our evaluation were obtained from Glori Energy, public record sources, and the non-confidential files of Cobb & Associates and were considered accurate. Supporting work data are on file in our office.
We have not made a field examination of the properties; therefore, operating ability and condition of the production equipment have not been considered. No consideration was given in this report to potential environmental liabilities which may exist, nor were any costs included for potential liability to restore and clean up damages, if any, caused by past operating practices.
In evaluating available information concerning this appraisal, we have excluded from our consideration all matters as to which legal or accounting interpretation, rather than engineering, may be controlling. As in all aspects of oil and gas evaluation, there are uncertainties inherent in the interpretation of engineering data and conclusions necessarily represent only informed professional judgments.
Cobb & Associates is an independent consulting firm. None of our employees own an interest in these properties. Our compensation is not contingent on the results obtained or reported. The technical persons responsible for preparing the estimates presented in this report meet the requirements regarding qualifications, independence, objectivity, and confidentiality set forth in the SPE Standards.
Mr. Tor Meling
Glori Energy, Inc.
February 9, 2015
Page 5
This report was prepared by an officer of the firm who is a licensed professional engineer with more than 30 years of experience in the estimation, assessment, and evaluation of oil and gas reserves.
This report has been prepared for the exclusive use of Glori and may not be used by others without prior written consent. We appreciate the opportunity to be of service to you. If you have questions
regarding this report, please contact us.
Sincerely, | |
WILLIAM M. COBB & ASSOCIATES, INC. Texas Registered Engineering Firm F-84 | |
 |  |
Fred Duewall, P.E. Senior Vice President | |
Date: 01/30/2015 10:18:28AM | |||||||
ECONOMIC SUMMARY PROJECTION | |||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Proved Producing Rsv Class % Category | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | ||||
Case Type: | TOTAL CASE | All Cases | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | |||||||
Cum Oil (Mbbl): | 46,799.52 | ||||||
Cum Gas (MMcf): | 13,509.29 | ||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 174.95 | 9.45 | 152.44 | 5.03 | 94.99 | 3.65 | 14,479.69 | 18.34 | 0.00 | ||||||||
2016 | 156.95 | 8.95 | 136.79 | 4.75 | 94.99 | 3.65 | 12,993.39 | 17.33 | 0.00 | ||||||||
2017 | 139.88 | 8.44 | 121.95 | 4.47 | 94.99 | 3.65 | 11,583.12 | 16.32 | 0.00 | ||||||||
2018 | 127.69 | 7.99 | 111.66 | 4.23 | 94.99 | 3.65 | 10,606.25 | 15.43 | 0.00 | ||||||||
2019 | 117.19 | 7.58 | 102.84 | 4.00 | 94.99 | 3.65 | 9,768.57 | 14.61 | 0.00 | ||||||||
2020 | 109.84 | 7.21 | 96.42 | 3.81 | 94.99 | 3.65 | 9,158.59 | 13.89 | 0.00 | ||||||||
2021 | 102.03 | 6.83 | 89.59 | 3.60 | 94.99 | 3.65 | 8,509.61 | 13.15 | 0.00 | ||||||||
2022 | 89.79 | 5.81 | 78.50 | 2.98 | 94.99 | 3.65 | 7,456.27 | 10.89 | 0.00 | ||||||||
2023 | 72.64 | 4.57 | 63.45 | 2.24 | 94.99 | 3.65 | 6,027.12 | 8.19 | 0.00 | ||||||||
2024 | 60.59 | 3.95 | 53.10 | 2.14 | 94.99 | 3.65 | 5,043.34 | 7.82 | 0.00 | ||||||||
2025 | 51.16 | 3.36 | 44.84 | 2.04 | 94.99 | 3.65 | 4,259.13 | 7.43 | 0.00 | ||||||||
2026 | 48.78 | 3.20 | 42.76 | 1.94 | 94.99 | 3.65 | 4,061.09 | 7.08 | 0.00 | ||||||||
2027 | 46.52 | 3.05 | 40.77 | 1.85 | 94.99 | 3.65 | 3,872.50 | 6.74 | 0.00 | ||||||||
2028 | 44.48 | 2.91 | 38.98 | 1.76 | 94.99 | 3.65 | 3,702.79 | 6.44 | 0.00 | ||||||||
2029 | 42.30 | 2.77 | 37.07 | 1.68 | 94.99 | 3.65 | 3,521.42 | 6.12 | 0.00 | ||||||||
Rem | 193.75 | 10.84 | 175.42 | 6.98 | 94.99 | 3.65 | 16,661.88 | 25.48 | 0.00 | ||||||||
Total | 1,578.55 | 96.93 | 1,386.58 | 53.51 | 94.99 | 3.65 | 131,704.76 | 195.25 | 0.00 | ||||||||
Ult | 48,378.07 | 13,606.22 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 22.00 | 668.68 | 469.01 | 0.00 | 0.00 | 5,982.08 | 0.00 | 0.00 | 7,378.26 | 7,048.40 | ||||||||||||||||||
2016 | 22.00 | 600.11 | 420.90 | 0.00 | 0.00 | 5,957.75 | 0.00 | 0.00 | 6,031.96 | 12,285.53 | ||||||||||||||||||
2017 | 19.00 | 535.04 | 375.24 | 0.00 | 0.00 | 5,690.09 | 0.00 | 0.00 | 4,999.07 | 16,229.98 | ||||||||||||||||||
2018 | 19.00 | 489.95 | 343.61 | 0.00 | 0.00 | 5,569.22 | 0.00 | 0.00 | 4,218.89 | 19,256.13 | ||||||||||||||||||
2019 | 18.00 | 451.29 | 316.49 | 0.00 | 0.00 | 5,430.76 | 0.00 | 0.00 | 3,584.65 | 21,593.57 | ||||||||||||||||||
2020 | 18.00 | 423.12 | 296.73 | 0.00 | 0.00 | 5,386.05 | 0.00 | 0.00 | 3,066.57 | 23,411.55 | ||||||||||||||||||
2021 | 17.00 | 393.16 | 275.71 | 0.00 | 0.00 | 5,257.15 | 0.00 | 0.00 | 2,596.73 | 24,810.56 | ||||||||||||||||||
2022 | 17.00 | 344.45 | 241.56 | 0.00 | 0.00 | 4,663.80 | 0.00 | 0.00 | 2,217.36 | 25,896.80 | ||||||||||||||||||
2023 | 12.00 | 278.38 | 195.24 | 0.00 | 0.00 | 3,660.85 | 0.00 | 0.00 | 1,900.84 | 26,743.21 | ||||||||||||||||||
2024 | 11.00 | 233.01 | 163.41 | 0.00 | 0.00 | 2,986.69 | 0.00 | 0.00 | 1,668.06 | 27,418.53 | ||||||||||||||||||
2025 | 8.00 | 196.84 | 138.02 | 0.00 | 0.00 | 2,477.57 | 0.00 | 0.00 | 1,454.12 | 27,953.52 | ||||||||||||||||||
2026 | 8.00 | 187.69 | 131.61 | 0.00 | 0.00 | 2,477.57 | 0.00 | 0.00 | 1,271.30 | 28,378.78 | ||||||||||||||||||
2027 | 8.00 | 178.97 | 125.49 | 0.00 | 0.00 | 2,477.57 | 0.00 | 0.00 | 1,097.21 | 28,712.47 | ||||||||||||||||||
2028 | 8.00 | 171.13 | 119.99 | 0.00 | 0.00 | 2,477.57 | 0.00 | 0.00 | 940.54 | 28,972.58 | ||||||||||||||||||
2029 | 8.00 | 162.75 | 114.12 | 0.00 | 0.00 | 2,477.57 | 0.00 | 0.00 | 773.10 | 29,166.90 | ||||||||||||||||||
Rem. | 769.79 | 539.84 | 0.00 | 0.00 | 11,773.25 | 0.00 | 0.00 | 3,604.49 | 588.45 | |||||||||||||||||||
Total | 6,084.37 | 4,266.97 | 0.00 | 0.00 | 74,745.53 | 0.00 | 0.00 | 46,803.15 | 29,755.35 | |||||||||||||||||||
Present Worth Profile (M$) | ||||
PW | 5.00%: | 36,233.44 | ||
Disc. Initial Invest. (M$) : | 0.00 | PW | 8.00%: | 32,015.53 |
ROInvestment (disc/undisc) | 0.00 / 0.00 | PW | 10.00%: | 29,755.35 |
Years to Payout : | 0.00 | PW | 12.00%: | 27,826.15 |
Internal ROR (%) : | 0.00 | PW | 15.00%: | 25,411.29 |
PW | 20.00%: | 22,302.83 | ||
TRC Eco Detailed.rpt | 1 | |
GLORI ENERGY, INC.
Oneline Report
As of 1/1/2015
Gross Reserves | Net Reserves | Net Revenue | Expense & Tax (M$) | Cash Flow | % Disc. Net Income | ||||||||||||||||||||||||
Case Name | Field | Reservoir | Rsv Cat | Oil (Mbbl) | GAS (Mbbl) | Oil (Mbbl) | GAS (MMcf) | Oil (M$) | Gas (M$) | Invest (M$) | Non-Disc (M$) | Disc 10% (M$) | |||||||||||||||||
BLALOCK JJ 1R | QUITMAN | PALUXY | 1PDP | 54.7 | 0.0 | 47.9 | 0.0 | 4,547.8 | 0.0 | 1,353.6 | 0.0 | 3,194.1 | 2,817.3 | 9.5 | % | ||||||||||||||
BLALOCK VC 7 (Paluxy) | QUITMAN | PALUXY | 1PDP | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | % | ||||||||||||||
CLARK JM 1R, 2, 4 | COKE | PALUXY | 1PDP | 163.7 | 9.8 | 143.3 | 0.0 | 13,606.7 | 0.0 | 11,068.6 | 0.0 | 2,538.1 | 1,937.3 | 6.5 | % | ||||||||||||||
COKE SUB CLARKSVILLE UNIT | COKE | SUB-CLARKSVILLE | 1PDP | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | % | ||||||||||||||
COKE UNIT -A- 2 | COKE | HILL | 1PDP | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | % | ||||||||||||||
COKE UNIT -A- 6 (Rodessa) | COKE | HILL | 1PDP | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | % | ||||||||||||||
CONNER B 1R, 3D-SWD | COKE | PALUXY | 1PDP | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | % | ||||||||||||||
DARBY LC -A- 1R, 2 | COKE | PALUXY | 1PDP | 314.0 | 20.4 | 304.1 | 14.2 | 28,888.9 | 51.9 | 16,229.8 | 0.0 | 12,711.1 | 7,526.6 | 25.3 | % | ||||||||||||||
DARBY LC -B- 1, 6 ,7 | COKE | PALUXY | 1PDP | 96.3 | 9.6 | 90.4 | 6.1 | 8,582.5 | 22.4 | 7,189.9 | 0.0 | 1,415.0 | 1,139.2 | 3.8 | % | ||||||||||||||
FAULK EL 1R | COKE | PALUXY | 1PDP | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | % | ||||||||||||||
FOSTER UNIT 1, 2 | COKE | PALUXY | 1PDP | 253.5 | 17.7 | 221.8 | 9.5 | 21,066.6 | 34.6 | 13,508.1 | 0.0 | 7,593.1 | 4,814.6 | 16.2 | % | ||||||||||||||
KENNEMER CB 1R, 4R, 6 | COKE | PALUXY | 1PDP | 298.5 | 22.4 | 239.0 | 12.9 | 22,703.8 | 47.1 | 15,427.4 | 0.0 | 7,323.5 | 4,905.1 | 16.5 | % | ||||||||||||||
KENNEMER JD 1-R | COKE | PALUXY | 1PDP | 240.7 | 10.6 | 210.9 | 6.9 | 20,032.5 | 25.1 | 11,058.9 | 0.0 | 8,998.7 | 4,173.4 | 14.0 | % | ||||||||||||||
MCCREIGHT GA 1 | COKE | PALUXY | 1PDP | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | % | ||||||||||||||
RADNEY 1, 2, 3 | COKE | PALUXY | 1PDP | 17.7 | 0.0 | 12.7 | 0.0 | 1,206.7 | 0.0 | 1,011.1 | 0.0 | 195.6 | 175.6 | 0.6 | % | ||||||||||||||
ROBERTSON JM 3, 4 | COKE | PALUXY | 1PDP | 74.6 | 6.3 | 65.3 | 3.9 | 6,203.4 | 14.2 | 4,892.8 | 0.0 | 1,324.8 | 1,065.4 | 3.6 | % | ||||||||||||||
SKEEN-CL 1 | COKE | PALUXY | 1PDP | 57.1 | 0.0 | 44.5 | 0.0 | 4,228.2 | 0.0 | 2,747.1 | 0.0 | 1,481.2 | 1,174.5 | 3.9 | % | ||||||||||||||
WHITE SJ ETAL 1,11,15,2,3,4,5 | QUITMAN | PALUXY | 1PDP | 7.7 | 0.0 | 6.7 | 0.0 | 637.7 | 0.0 | 609.7 | 0.0 | 28.0 | 26.3 | 0.1 | % | ||||||||||||||
TOTAL 1PDP | 1,578.6 | 96.9 | 1,386.6 | 53.5 | 131,704.8 | 195.3 | 85,096.9 | 0.0 | 46,803.1 | 29,755.4 | |||||||||||||||||||
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | BLALOCK JJ 1R - 1R | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | QUITMAN | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 65.24 | |||||||
Cum Gas (MMcf): | 6.86 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 22.32 | 0.00 | 19.53 | 0.00 | 94.99 | 0.00 | 1,855.08 | 0.00 | 0.00 | ||||||||
2016 | 13.26 | 0.00 | 11.61 | 0.00 | 94.99 | 0.00 | 1,102.43 | 0.00 | 0.00 | ||||||||
2017 | 8.24 | 0.00 | 7.21 | 0.00 | 94.99 | 0.00 | 684.76 | 0.00 | 0.00 | ||||||||
2018 | 5.35 | 0.00 | 4.68 | 0.00 | 94.99 | 0.00 | 444.68 | 0.00 | 0.00 | ||||||||
2019 | 3.60 | 0.00 | 3.15 | 0.00 | 94.99 | 0.00 | 298.90 | 0.00 | 0.00 | ||||||||
2020 | 1.95 | 0.00 | 1.70 | 0.00 | 94.99 | 0.00 | 161.91 | 0.00 | 0.00 | ||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 54.72 | 0.00 | 47.88 | 0.00 | 94.99 | 0.00 | 4,547.76 | 0.00 | 0.00 | ||||||||
Ult | 119.96 | 6.86 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 1.00 | 85.49 | 60.01 | 0.00 | 0.00 | 173.60 | 0.00 | 0.00 | 1,535.97 | 1,471.97 | ||||||||||||||||||
2016 | 1.00 | 50.81 | 35.66 | 0.00 | 0.00 | 173.60 | 0.00 | 0.00 | 842.36 | 2,205.72 | ||||||||||||||||||
2017 | 1.00 | 31.56 | 22.15 | 0.00 | 0.00 | 173.60 | 0.00 | 0.00 | 457.45 | 2,567.99 | ||||||||||||||||||
2018 | 1.00 | 20.49 | 14.39 | 0.00 | 0.00 | 173.60 | 0.00 | 0.00 | 236.20 | 2,738.16 | ||||||||||||||||||
2019 | 1.00 | 13.77 | 9.67 | 0.00 | 0.00 | 173.60 | 0.00 | 0.00 | 101.85 | 2,805.02 | ||||||||||||||||||
2020 | 1.00 | 7.46 | 5.24 | 0.00 | 0.00 | 128.90 | 0.00 | 0.00 | 20.31 | 2,817.34 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 209.59 | 147.12 | 0.00 | 0.00 | 996.92 | 0.00 | 0.00 | 3,194.14 | 2,817.34 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 9/30/2020 | |||||
Perfs: | 6188-6322 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 2,430.00 | bbl/month | Revenue Int: | 0.87500000 | PW | 5.00%: | 2,990.98 | |
Abandonment: | 188.92 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 2,883.66 | |
Initial Decline: | 44.00 | % year b = 0.200 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 2,817.34 | |
Beg ratio: | 0.000 | Years to Payout: | 0.00 | PW | 12.00%: | 2,754.79 | ||
End Ratio: | 0.000 | Internal ROR (%): | 0.00 | PW | 15.00%: | 2,667.37 | ||
PW | 20.00%: | 2,536.63 | ||||||
TRC Eco Detailed.rpt | 2 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | BLALOCK JJ VC 7 (Paluxy) | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | QUITMAN | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 2.61 | |||||||
Cum Gas (MMcf): | — | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
NON-ECONOMIC | |||||||||||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Ult | 2.61 | 0.00 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 1/1/2015 | |||||
Perfs: | 0-0 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 105.00 | bbl/month | Revenue Int: | 0.84765620 | PW | 5.00%: | 0.00 | |
Abandonment: | 105.00 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 0.00 | |
Initial Decline: | 10.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 0.00 | |
Beg ratio: | 0.000 | Years to Payout: | 0.00 | PW | 12.00%: | 0.00 | ||
End Ratio: | 0.000 | Internal ROR (%): | 0.00 | PW | 15.00%: | 0.00 | ||
PW | 20.00% : | 0.00 | ||||||
TRC Eco Detailed.rpt | 3 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | CLARK JM 1R, 2, 4-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 3,949.58 | |||||||
Cum Gas (MMcf): | 116.73 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 20.80 | 1.25 | 18.20 | 0.00 | 94.99 | 0.00 | 1,728.99 | 0.00 | |||||||||
2016 | 19.92 | 1.20 | 17.43 | 0.00 | 94.99 | 0.00 | 1,655.66 | 0.00 | 0.00 | ||||||||
2017 | 18.97 | 1.14 | 16.60 | 0.00 | 94.99 | 0.00 | 1,576.78 | 0.00 | 0.00 | ||||||||
2018 | 18.12 | 1.09 | 15.85 | 0.00 | 94.99 | 0.00 | 1,505.87 | 0.00 | 0.00 | ||||||||
2019 | 17.30 | 1.04 | 15.14 | 0.00 | 94.99 | 0.00 | 1,438.15 | 0.00 | 0.00 | ||||||||
2020 | 16.57 | 0.99 | 14.50 | 0.00 | 94.99 | 0.00 | 1,377.16 | 0.00 | 0.00 | ||||||||
2021 | 15.78 | 0.95 | 13.81 | 0.00 | 94.99 | 0.00 | 1,311.55 | 0.00 | 0.00 | ||||||||
2022 | 15.07 | 0.90 | 13.19 | 0.00 | 94.99 | 0.00 | 1,252.57 | 0.00 | 0.00 | ||||||||
2023 | 14.39 | 0.86 | 12.59 | 0.00 | 94.99 | 0.00 | 1,196.24 | 0.00 | 0.00 | ||||||||
2024 | 6.78 | 0.41 | 5.93 | 0.00 | 94.99 | 0.00 | 563.71 | 0.00 | 0.00 | ||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 163.72 | 9.82 | 143.25 | 0.00 | 94.99 | 0.00 | 13,606.68 | 0.00 | 0.00 | ||||||||
Ult | 4,113.30 | 126.56 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 3.00 | 79.68 | 55.93 | 0.00 | 0.00 | 1,054.69 | 0.00 | 0.00 | 538.68 | 514.12 | ||||||||||||||||||
2016 | 3.00 | 76.30 | 53.56 | 0.00 | 0.00 | 1,054.69 | 0.00 | 0.00 | 471.10 | 922.96 | ||||||||||||||||||
2017 | 3.00 | 72.67 | 51.01 | 0.00 | 0.00 | 1,054.69 | 0.00 | 0.00 | 398.41 | 1,237.20 | ||||||||||||||||||
2018 | 3.00 | 69.40 | 48.72 | 0.00 | 0.00 | 1,054.69 | 0.00 | 0.00 | 333.07 | 1,476.06 | ||||||||||||||||||
2019 | 3.00 | 66.28 | 46.52 | 0.00 | 0.00 | 1,054.69 | 0.00 | 0.00 | 270.66 | 1,652.55 | ||||||||||||||||||
2020 | 3.00 | 63.47 | 44.55 | 0.00 | 0.00 | 1,054.69 | 0.00 | 0.00 | 214.45 | 1,779.75 | ||||||||||||||||||
2021 | 3.00 | 60.44 | 42.43 | 0.00 | 0.00 | 1,054.69 | 0.00 | 0.00 | 153.99 | 1,862.76 | ||||||||||||||||||
2022 | 3.00 | 57.73 | 40.52 | 0.00 | 0.00 | 1,054.69 | 0.00 | 0.00 | 99.63 | 1,911.62 | ||||||||||||||||||
2023 | 3.00 | 55.13 | 38.70 | 0.00 | 0.00 | 1,054.69 | 0.00 | 0.00 | 47.72 | 1,932.93 | ||||||||||||||||||
2024 | 3.00 | 25.98 | 18.24 | 0.00 | 0.00 | 509.12 | 0.00 | 0.00 | 10.37 | 1,937.25 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 627.07 | 440.18 | 0.00 | 0.00 | 10,001.35 | 0.00 | 0.00 | 2,538.09 | 1,937.25 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 6/26/2024 | |||||
Perfs: | 4572-6368 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 1,775.00 | bbl/month | Revenue Int: | 0.87500000 | PW | 5.00%: | 2,198.88 | |
Abandonment: | 1146.83 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 2,034.21 | |
Initial Decline: | 4.50 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 1,937.25 | |
Beg ratio: | 0.060 | Years to Payout: | 0.00 | PW | 12.00%: | 1,849.10 | ||
End Ratio: | 0.060 | Internal ROR (%): | 0.00 | PW | 15.00%: | 1,731.10 | ||
PW | 20.00%: | 1,565.54 | ||||||
TRC Eco Detailed.rpt | 4 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | COKE SUB CLASKSVILLE UNIT-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | SUB-CLARKSVILLE | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 2,549.27 | |||||||
Cum Gas (MMcf): | 20.62 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
NON-ECONOMIC | |||||||||||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Ult | 2,549.27 | 20.62 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 1/1/2015 | |||||
Perfs: | 4022-6345 | Working Int: | 0.87819150 | Present Worth Profile (M$) | ||||
Initial Rate: | 650.00 | bbl/month | Revenue Int: | 0.76731104 | PW | 5.00%: | 0.00 | |
Abandonment: | 650.00 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 0.00 | |
Initial Decline: | 2.85 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 0.00 | |
Beg ratio: | 0.110 | Years to Payout: | 0.00 | PW | 12.00%: | 0.00 | ||
End Ratio: | 0.110 | Internal ROR (%): | 0.00 | PW | 15.00%: | 0.00 | ||
PW | 20.00% : | 0.00 | ||||||
TRC Eco Detailed.rpt | 5 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | COKE UNIT-A-2-2 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | HILL | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 157.54 | |||||||
Cum Gas (MMcf): | 7,312.90 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
NON-ECONOMIC | |||||||||||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Ult | 157.54 | 7,312.90 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Major Phase: | Gas | Abandonment Date: | 1/1/2015 | |||||
Perfs: | 7979-8016 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 8,000.00 | bbl/month | Revenue Int: | 0.84912960 | PW | 5.00%: | 0.00 | |
Abandonment: | 8000.00 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 0.00 | |
Initial Decline: | 8.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 0.00 | |
Beg ratio: | 0.007 | Years to Payout: | 0.00 | PW | 12.00%: | 0.00 | ||
End Ratio: | 0.007 | Internal ROR (%): | 0.00 | PW | 15.00%: | 0.00 | ||
PW | 20.00% : | 0.00 | ||||||
TRC Eco Detailed.rpt | 6 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | COKE UNIT-A-6 (Rodessa)-2R | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | HILL (Rodessa) | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 13.67 | |||||||
Cum Gas (MMcf): | 830.80 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
NON-ECONOMIC | |||||||||||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Ult | 13.67 | 830.80 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Major Phase: | Gas | Abandonment Date: | 1/1/2015 | ||||
Perfs: | 8071-8096 | Working Int: | 1.00000000 | Present Worth Profile (M$) | |||
Initial Rate: | 0.00 | bbl/month | Revenue Int: | 0.87611610 | PW | 5.00%: | 0.00 |
Abandonment: | 0.00 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 0.00 |
Initial Decline: | 0.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 0.00 |
Beg ratio: | 0.000 | Years to Payout: | 0.00 | PW | 12.00%: | 0.00 | |
End Ratio: | 0.000 | Internal ROR (%): | 0.00 | PW | 15.00%: | 0.00 | |
PW | 20.00% : | 0.00 | |||||
TRC Eco Detailed.rpt | 7 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | CONNER B 1R, 3D-SWD-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 2,757.90 | |||||||
Cum Gas (MMcf): | 289.31 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
NON-ECONOMIC | |||||||||||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Ult | 2,757.90 | 289.31 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 1/1/2015 | |||||
Perfs: | 3508-6285 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 435.00 | bbl/month | Revenue Int: | 0.87500000 | PW | 5.00%: | 0.00 | |
Abandonment: | 435.00 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 0.00 | |
Initial Decline: | 4.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 0.00 | |
Beg ratio: | 0.090 | Years to Payout: | 0.00 | PW | 12.00%: | 0.00 | ||
End Ratio: | 0.090 | Internal ROR (%): | 0.00 | PW | 15.00%: | 0.00 | ||
PW | 20.00% : | 0.00 | ||||||
TRC Eco Detailed.rpt | 8 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | DARBY LC-A-1R, 2-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 2,901.44 | |||||||
Cum Gas (MMcf): | 386.61 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 24.30 | 1.58 | 23.54 | 1.10 | 94.99 | 3.65 | 2,236.40 | 4.02 | 0.00 | ||||||||
2016 | 22.74 | 1.48 | 22.02 | 1.03 | 94.99 | 3.65 | 2,092.03 | 3.76 | 0.00 | ||||||||
2017 | 21.21 | 1.38 | 20.55 | 0.96 | 94.99 | 3.65 | 1,951.99 | 3.51 | 0.00 | ||||||||
2018 | 19.90 | 1.29 | 19.28 | 0.90 | 94.99 | 3.65 | 1,831.41 | 3.29 | 0.00 | ||||||||
2019 | 18.72 | 1.22 | 18.13 | 0.85 | 94.99 | 3.65 | 1,722.53 | 3.10 | 0.00 | ||||||||
2020 | 17.69 | 1.15 | 17.14 | 0.80 | 94.99 | 3.65 | 1,628.16 | 2.93 | 0.00 | ||||||||
2021 | 16.67 | 1.08 | 16.15 | 0.76 | 94.99 | 3.65 | 1,533.82 | 2.76 | 0.00 | ||||||||
2022 | 15.78 | 1.03 | 15.29 | 0.72 | 94.99 | 3.65 | 1,451.90 | 2.61 | 0.00 | ||||||||
2023 | 14.96 | 0.97 | 14.50 | 0.68 | 94.99 | 3.65 | 1,376.88 | 2.48 | 0.00 | ||||||||
2024 | 14.25 | 0.93 | 13.80 | 0.65 | 94.99 | 3.65 | 1,311.16 | 2.36 | 0.00 | ||||||||
2025 | 13.50 | 0.88 | 13.08 | 0.61 | 94.99 | 3.65 | 1,242.16 | 2.23 | 0.00 | ||||||||
2026 | 12.82 | 0.83 | 12.42 | 0.58 | 94.99 | 3.65 | 1,180.09 | 2.12 | 0.00 | ||||||||
2027 | 12.18 | 0.79 | 11.80 | 0.55 | 94.99 | 3.65 | 1,121.13 | 2.02 | 0.00 | ||||||||
2028 | 11.61 | 0.75 | 11.24 | 0.53 | 94.99 | 3.65 | 1,067.95 | 1.92 | 0.00 | ||||||||
2029 | 11.00 | 0.71 | 10.65 | 0.50 | 94.99 | 3.65 | 1,011.75 | 1.82 | 0.00 | ||||||||
Rem | 66.61 | 4.33 | 64.53 | 3.02 | 94.99 | 3.65 | 6,129.57 | 11.02 | 0.00 | ||||||||
Total | 313.95 | 20.41 | 304.14 | 14.23 | 94.99 | 3.65 | 28,888.92 | 51.94 | 0.00 | ||||||||
Ult | 3,215.39 | 407.02 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 2.00 | 103.37 | 72.48 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 1,443.50 | 1,377.75 | ||||||||||||||||||
2016 | 2.00 | 96.69 | 67.80 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 1,310.22 | 2,514.57 | ||||||||||||||||||
2017 | 2.00 | 90.22 | 63.26 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 1,180.95 | 3,445.95 | ||||||||||||||||||
2018 | 2.00 | 84.65 | 59.35 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 1,069.63 | 4,212.88 | ||||||||||||||||||
2019 | 2.00 | 79.62 | 55.82 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 969.11 | 4,844.61 | ||||||||||||||||||
2020 | 2.00 | 75.25 | 52.77 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 881.99 | 5,367.28 | ||||||||||||||||||
2021 | 2.00 | 70.89 | 49.71 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 794.91 | 5,795.45 | ||||||||||||||||||
2022 | 2.00 | 67.11 | 47.05 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 719.27 | 6,147.68 | ||||||||||||||||||
2023 | 2.00 | 63.64 | 44.62 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 650.02 | 6,437.08 | ||||||||||||||||||
2024 | 2.00 | 60.60 | 42.49 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 589.35 | 6,675.63 | ||||||||||||||||||
2025 | 2.00 | 57.41 | 40.26 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 525.65 | 6,869.02 | ||||||||||||||||||
2026 | 2.00 | 54.54 | 38.24 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 468.35 | 7,025.68 | ||||||||||||||||||
2027 | 2.00 | 51.82 | 36.33 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 413.92 | 7,151.56 | ||||||||||||||||||
2028 | 2.00 | 49.36 | 34.61 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 364.83 | 7,252.43 | ||||||||||||||||||
2029 | 2.00 | 46.76 | 32.79 | 0.00 | 0.00 | 621.07 | 0.00 | 0.00 | 312.94 | 7,331.08 | ||||||||||||||||||
Rem. | 283.31 | 198.65 | 0.00 | 0.00 | 4,642.21 | 0.00 | 0.00 | 1,016.42 | 195.57 | |||||||||||||||||||
Total | 1,335.27 | 936.24 | 0.00 | 0.00 | 13,958.29 | 0.00 | 0.00 | 12,711.07 | 7,526.65 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 6/24/2037 | |||||
Perfs: | 6278-6328 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 2,100.00 | bbl/month | Revenue Int: | 0.96875000 | PW | 5.00%: | 9,493.30 | |
Abandonment: | 608.86 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 8,209.25 | |
Initial Decline: | 7.00 | % year b = 0.633 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 7,526.65 | |
Beg ratio: | 0.065 | Years to Payout: | 0.00 | PW | 12.00%: | 6,949.05 | ||
End Ratio: | 0.065 | Internal ROR (%): | 0.00 | PW | 15.00%: | 6,234.99 | ||
PW | 20.00%: | 5,335.28 | ||||||
TRC Eco Detailed.rpt | 9 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | DARBY LC-B-1, 6, 7-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 4,172.77 | |||||||
Cum Gas (MMcf): | 582.00 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 15.20 | 1.52 | 14.25 | 0.97 | 94.99 | 3.65 | 1,353.98 | 3.54 | 0.00 | ||||||||
2016 | 14.48 | 1.45 | 13.58 | 0.92 | 94.99 | 3.65 | 1,289.76 | 3.37 | 0.00 | ||||||||
2017 | 13.71 | 1.37 | 12.86 | 0.87 | 94.99 | 3.65 | 1,221.88 | 3.19 | 0.00 | ||||||||
2018 | 13.03 | 1.30 | 12.22 | 0.83 | 94.99 | 3.65 | 1,160.83 | 3.03 | 0.00 | ||||||||
2019 | 12.38 | 1.24 | 11.61 | 0.79 | 94.99 | 3.65 | 1,102.82 | 2.88 | 0.00 | ||||||||
2020 | 11.79 | 1.18 | 11.06 | 0.75 | 94.99 | 3.65 | 1,050.52 | 2.74 | 0.00 | ||||||||
2021 | 11.17 | 1.12 | 10.48 | 0.71 | 94.99 | 3.65 | 995.23 | 2.60 | 0.00 | ||||||||
2022 | 4.57 | 0.46 | 4.29 | 0.29 | 94.99 | 3.65 | 407.44 | 1.06 | 0.00 | ||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 96.33 | 9.63 | 90.36 | 6.14 | 94.99 | 3.65 | 8,582.45 | 22.42 | 0.00 | ||||||||
Ult | 4,269.09 | 591.63 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 3.00 | 62.66 | 43.92 | 0.00 | 0.00 | 877.97 | 0.00 | 0.00 | 372.97 | 356.03 | ||||||||||||||||||
2016 | 3.00 | 59.69 | 41.83 | 0.00 | 0.00 | 877.97 | 0.00 | 0.00 | 313.64 | 628.29 | ||||||||||||||||||
2017 | 3.00 | 56.55 | 39.63 | 0.00 | 0.00 | 877.97 | 0.00 | 0.00 | 250.92 | 826.27 | ||||||||||||||||||
2018 | 3.00 | 53.73 | 37.65 | 0.00 | 0.00 | 877.97 | 0.00 | 0.00 | 194.51 | 965.83 | ||||||||||||||||||
2019 | 3.00 | 51.04 | 35.77 | 0.00 | 0.00 | 877.97 | 0.00 | 0.00 | 140.93 | 1,057.78 | ||||||||||||||||||
2020 | 3.00 | 48.62 | 34.07 | 0.00 | 0.00 | 877.97 | 0.00 | 0.00 | 92.60 | 1,112.79 | ||||||||||||||||||
2021 | 3.00 | 46.06 | 32.28 | 0.00 | 0.00 | 877.97 | 0.00 | 0.00 | 41.52 | 1,135.25 | ||||||||||||||||||
2022 | 3.00 | 18.86 | 13.22 | 0.00 | 0.00 | 368.52 | 0.00 | 0.00 | 7.97 | 1,139.24 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Total | 397.21 | 278.37 | 0.00 | 0.00 | 6,514.30 | 0.00 | 0.00 | 1,414.99 | 1,139.24 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 6/4/2022 | |||||
Perfs: | 62270-6335 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 1,300.00 | bbl/month | Revenue Int: | 0.93802090 | PW | 5.00%: | 1,262.25 | |
Abandonment: | 888.26 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 1,185.40 | |
Initial Decline: | 5.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 1,139.24 | |
Beg ratio: | 0.100 | Years to Payout: | 0.00 | PW | 12.00%: | 1,096.63 | ||
End Ratio: | 0.100 | Internal ROR (%): | 0.00 | PW | 15.00%: | 1,038.60 | ||
PW | 20.00%: | 955.08 | ||||||
TRC Eco Detailed.rpt | 10 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | FAULK EL 1R-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 3,338.49 | |||||||
Cum Gas (MMcf): | 249.85 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
NON-ECONOMIC | |||||||||||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Ult | 3,338.49 | 249.85 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 1/1/2015 | |||||
Perfs: | 6260-6348 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 0.00 | bbl/month | Revenue Int: | 0.87611610 | PW | 5.00%: | 0.00 | |
Abandonment: | 0.00 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 0.00 | |
Initial Decline: | 0.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 0.00 | |
Beg ratio: | 0.000 | Years to Payout: | 0.00 | PW | 12.00%: | 0.00 | ||
End Ratio: | 0.000 | Internal ROR (%): | 0.00 | PW | 15.00%: | 0.00 | ||
PW | 20.00% : | 0.00 | ||||||
TRC Eco Detailed.rpt | 11 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | FOSTER UNIT 1, 2-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 4,279.07 | |||||||
Cum Gas (MMcf): | 489.17 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 21.04 | 1.47 | 18.41 | 0.79 | 94.99 | 3.65 | 1,748.79 | 2.87 | 0.00 | ||||||||
2016 | 20.04 | 1.40 | 17.54 | 0.75 | 94.99 | 3.65 | 1,665.84 | 2.73 | 0.00 | ||||||||
2017 | 18.99 | 1.33 | 16.61 | 0.71 | 94.99 | 3.65 | 1,578.17 | 2.59 | 0.00 | ||||||||
2018 | 18.04 | 1.26 | 15.78 | 0.67 | 94.99 | 3.65 | 1,499.31 | 2.46 | 0.00 | ||||||||
2019 | 17.14 | 1.20 | 15.00 | 0.64 | 94.99 | 3.65 | 1,424.40 | 2.34 | 0.00 | ||||||||
2020 | 16.33 | 1.14 | 14.28 | 0.61 | 94.99 | 3.65 | 1,356.84 | 2.23 | 0.00 | ||||||||
2021 | 15.47 | 1.08 | 13.53 | 0.58 | 94.99 | 3.65 | 1,285.43 | 2.11 | 0.00 | ||||||||
2022 | 14.69 | 1.03 | 12.86 | 0.55 | 94.99 | 3.65 | 1,221.20 | 2.00 | 0.00 | ||||||||
2023 | 13.96 | 0.98 | 12.21 | 0.52 | 94.99 | 3.65 | 1,160.18 | 1.90 | 0.00 | ||||||||
2024 | 13.30 | 0.93 | 11.64 | 0.50 | 94.99 | 3.65 | 1,105.15 | 1.81 | 0.00 | ||||||||
2025 | 12.60 | 0.88 | 11.02 | 0.47 | 94.99 | 3.65 | 1,046.99 | 1.72 | 0.00 | ||||||||
2026 | 11.97 | 0.84 | 10.47 | 0.45 | 94.99 | 3.65 | 944.67 | 1.63 | 0.00 | ||||||||
2027 | 11.37 | 0.80 | 9.95 | 0.42 | 94.99 | 3.65 | 944.97 | 1.55 | 0.00 | ||||||||
2028 | 10.83 | 0.76 | 9.48 | 0.40 | 94.99 | 3.65 | 900.15 | 1.48 | 0.00 | ||||||||
2029 | 10.26 | 0.72 | 8.98 | 0.38 | 94.99 | 3.65 | 852.78 | 1.40 | 0.00 | ||||||||
Rem | 27.45 | 1.92 | 24.02 | 1.03 | 94.99 | 3.65 | 2,281.77 | 3.74 | 0.00 | ||||||||
Total | 253.47 | 17.74 | 221.79 | 9.47 | 94.99 | 3.65 | 21,066.63 | 34.56 | 0.00 | ||||||||
Ult | 4,532.54 | 506.91 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 2.00 | 80.81 | 56.67 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 954.15 | 910.54 | ||||||||||||||||||
2016 | 2.00 | 76.98 | 53.98 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 877.59 | 1,671.90 | ||||||||||||||||||
2017 | 2.00 | 72.93 | 51.14 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 796.67 | 2,300.14 | ||||||||||||||||||
2018 | 2.00 | 69.28 | 48.58 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 723.88 | 2,819.14 | ||||||||||||||||||
2019 | 2.00 | 65.82 | 46.15 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 654.73 | 3,245.92 | ||||||||||||||||||
2020 | 2.00 | 62.70 | 43.97 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 592.38 | 3,596.97 | ||||||||||||||||||
2021 | 2.00 | 59.40 | 41.65 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 526.46 | 3,880.55 | ||||||||||||||||||
2022 | 2.00 | 56.43 | 39.57 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 467.18 | 4,109.35 | ||||||||||||||||||
2023 | 2.00 | 53.61 | 37.59 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 410.85 | 4,292.28 | ||||||||||||||||||
2024 | 2.00 | 51.07 | 35.81 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 360.06 | 4,438.06 | ||||||||||||||||||
2025 | 2.00 | 48.38 | 33.93 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 306.38 | 4,550.80 | ||||||||||||||||||
2026 | 2.00 | 45.96 | 32.23 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 258.09 | 4,637.14 | ||||||||||||||||||
2027 | 2.00 | 43.67 | 30.62 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 212.21 | 4,701.70 | ||||||||||||||||||
2028 | 2.00 | 41.60 | 29.17 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 170.84 | 4,748.97 | ||||||||||||||||||
2029 | 2.00 | 39.41 | 27.63 | 0.00 | 0.00 | 660.02 | 0.00 | 0.00 | 127.12 | 4,780.94 | ||||||||||||||||||
Rem. | 105.44 | 73.94 | 0.00 | 0.00 | 1,951.68 | 0.00 | 0.00 | 154.45 | 33.68 | |||||||||||||||||||
Total | 973.47 | 682.62 | 0.00 | 0.00 | 11,852.04 | 0.00 | 0.00 | 7,593.06 | 4,814.62 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 12/15/2032 | |||||
Perfs: | 0-6252 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 1,800.00 | bbl/month | Revenue Int: | 0.87500000 | PW | 5.00%: | 5,316.44 | |
Abandonment: | 716.54 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 4,204.66 | |
Initial Decline: | 5.00 | % year b - 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 4,814.62 | |
Beg ratio: | 0.070 | Years to Payout: | 0.00 | PW | 12.00%: | 4,477.79 | ||
End Ratio: | 0.070 | Internal ROR (%): | 0.00 | PW | 15.00%: | 402.31 | ||
PW | 20.00%: | 3,501.42 | ||||||
TRC Eco Detailed.rpt | 12 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | KENNEMER CB 1R, 4R, 6-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 7,332.99 | |||||||
Cum Gas (MMcf): | 744.49 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 27.80 | 2.09 | 22.26 | 1.20 | 94.99 | 3.65 | 2,114.27 | 4.39 | 0.00 | ||||||||
2016 | 26.25 | 1.97 | 21.02 | 1.13 | 94.99 | 3.65 | 1,996.44 | 4.14 | 0.00 | ||||||||
2017 | 24.70 | 1.85 | 19.77 | 1.07 | 94.99 | 3.65 | 1,878.18 | 3.90 | 0.00 | ||||||||
2018 | 23.34 | 1.75 | 18.69 | 1.01 | 94.99 | 3.65 | 1,774.84 | 3.68 | 0.00 | ||||||||
2019 | 22.09 | 1.66 | 17.68 | 0.95 | 94.99 | 3.65 | 1,679.80 | 3.48 | 0.00 | ||||||||
2020 | 20.99 | 1.57 | 16.81 | 0.91 | 94.99 | 3.65 | 1,596.44 | 3.31 | 0.00 | ||||||||
2021 | 19.87 | 1.49 | 15.91 | 0.86 | 94.99 | 3.65 | 1,511.03 | 3.13 | 0.00 | ||||||||
2022 | 18.87 | 1.42 | 15.11 | 0.82 | 94.99 | 3.65 | 1,435.44 | 2.98 | 0.00 | ||||||||
2023 | 17.93 | 1.34 | 14.36 | 0.78 | 94.99 | 3.65 | 1,363.71 | 2.83 | 0.00 | ||||||||
2024 | 17.08 | 1.28 | 13.68 | 0.74 | 94.99 | 3.65 | 1,299.03 | 2.69 | 0.00 | ||||||||
2025 | 16.18 | 1.21 | 12.96 | 0.70 | 94.99 | 3.65 | 1,230.66 | 2.55 | 0.00 | ||||||||
2026 | 15.37 | 1.15 | 12.31 | 0.66 | 94.99 | 3.65 | 1,169.17 | 2.43 | 0.00 | ||||||||
2027 | 14.61 | 1.10 | 11.69 | 0.63 | 94.99 | 3.65 | 1,110.75 | 2.30 | 0.00 | ||||||||
2028 | 13.91 | 1.04 | 11.14 | 0.60 | 94.99 | 3.65 | 1,058.07 | 2.19 | 0.00 | ||||||||
2029 | 13.18 | 0.99 | 10.55 | 0.57 | 94.99 | 3.65 | 1,002.38 | 2.08 | 0.00 | ||||||||
Rem | 6.36 | 0.48 | 5.09 | 0.27 | 94.99 | 3.65 | 483.55 | 1.00 | 0.00 | ||||||||
Total | 298.54 | 22.39 | 239.02 | 12.91 | 94.99 | 3.65 | 22,703.77 | 47.10 | 0.00 | ||||||||
Ult | 7,631.53 | 766.88 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 3.00 | 97.77 | 68.54 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 1,072.04 | 1,023.21 | ||||||||||||||||||
2016 | 3.00 | 92.32 | 64.72 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 963.24 | 1,859.01 | ||||||||||||||||||
2017 | 3.00 | 86.85 | 60.89 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 854.04 | 2,532.58 | ||||||||||||||||||
2018 | 3.00 | 82.07 | 57.54 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 758.61 | 3,076.54 | ||||||||||||||||||
2019 | 3.00 | 77.68 | 54.45 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 670.84 | 3,513.87 | ||||||||||||||||||
2020 | 3.00 | 73.82 | 51.75 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 593.87 | 3,865.85 | ||||||||||||||||||
2021 | 3.00 | 69.87 | 48.98 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 515.00 | 4,143.29 | ||||||||||||||||||
2022 | 3.00 | 66.38 | 46.53 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 445.20 | 4,361.34 | ||||||||||||||||||
2023 | 3.00 | 63.06 | 44.21 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 378.97 | 4,530.10 | ||||||||||||||||||
2024 | 3.00 | 60.07 | 42.11 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 319.24 | 4,659.38 | ||||||||||||||||||
2025 | 3.00 | 56.91 | 39.89 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 256.11 | 4,753.65 | ||||||||||||||||||
2026 | 3.00 | 54.06 | 37.90 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 199.32 | 4,820.36 | ||||||||||||||||||
2027 | 3.00 | 51.36 | 36.01 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 145.38 | 4,864.61 | ||||||||||||||||||
2028 | 3.00 | 48.93 | 34.30 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 96.73 | 4,891.42 | ||||||||||||||||||
2029 | 3.00 | 46.35 | 32.49 | 0.00 | 0.00 | 880.31 | 0.00 | 0.00 | 45.31 | 4,902.84 | ||||||||||||||||||
Rem. | 22.36 | 15.68 | 0.00 | 0.00 | 436.90 | 0.00 | 0.00 | 9.62 | 2.26 | |||||||||||||||||||
Total | 1,049.86 | 735.99 | 0.00 | 0.00 | 13,641.52 | 0.00 | 0.00 | 7,323.50 | 4,905.10 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 7/2/2030 | |||||
Perfs: | 6288-6372 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 2,390.00 | bbl/month | Revenue Int: | 0.80065680 | PW | 5.00%: | 5,890.51 | |
Abandonment: | 1044.02 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 5,258.45 | |
Initial Decline: | 6.00 | % year b = 0.500 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 4,905.10 | |
Beg ratio: | 0.075 | Years to Payout: | 0.00 | PW | 12.00%: | 4,595.62 | ||
End Ratio: | 0.075 | Internal ROR (%): | 0.00 | PW | 15.00%: | 4,198.56 | ||
PW | 20.00%: | 3,673.48 | ||||||
TRC Eco Detailed.rpt | 13 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | KENNEMER JD 1-R-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 1,896.12 | |||||||
Cum Gas (MMcf): | 177.22 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 12.05 | 0.53 | 10.56 | 0.34 | 94.99 | 3.65 | 1,002.61 | 1.25 | 0.00 | ||||||||
2016 | 11.72 | 0.52 | 10.27 | 0.33 | 94.99 | 3.65 | 975.17 | 1.22 | 0.00 | ||||||||
2017 | 11.33 | 0.50 | 9.93 | 0.32 | 94.99 | 3.65 | 943.31 | 1.18 | 0.00 | ||||||||
2018 | 11.00 | 0.48 | 9.63 | 0.31 | 94.99 | 3.65 | 915.03 | 1.14 | 0.00 | ||||||||
2019 | 10.67 | 0.47 | 9.34 | 0.30 | 94.99 | 3.65 | 887.60 | 1.11 | 0.00 | ||||||||
2020 | 10.37 | 0.46 | 9.09 | 0.30 | 94.99 | 3.65 | 863.31 | 1.08 | 0.00 | ||||||||
2021 | 10.03 | 0.44 | 8.79 | 0.29 | 94.99 | 3.65 | 835.11 | 1.04 | 0.00 | ||||||||
2022 | 9.73 | 0.43 | 8.53 | 0.28 | 94.99 | 3.65 | 810.07 | 1.01 | 0.00 | ||||||||
2023 | 9.44 | 0.42 | 8.27 | 0.27 | 94.99 | 3.65 | 785.79 | 0.98 | 0.00 | ||||||||
2024 | 9.18 | 0.40 | 8.05 | 0.26 | 94.99 | 3.65 | 764.28 | 0.96 | 0.00 | ||||||||
2025 | 8.88 | 0.39 | 7.78 | 0.25 | 94.99 | 3.65 | 739.31 | 0.92 | 0.00 | ||||||||
2026 | 8.62 | 0.38 | 7.55 | 0.25 | 94.99 | 3.65 | 717.15 | 0.90 | 0.00 | ||||||||
2027 | 8.36 | 0.37 | 7.32 | 0.24 | 94.99 | 3.65 | 695.65 | 0.87 | 0.00 | ||||||||
2028 | 8.13 | 0.36 | 7.12 | 0.23 | 94.99 | 3.65 | 676.62 | 0.85 | 0.00 | ||||||||
2029 | 7.86 | 0.35 | 6.89 | 0.22 | 94.99 | 3.65 | 654.51 | 0.82 | 0.00 | ||||||||
Rem | 93.33 | 4.11 | 81.77 | 2.66 | 94.99 | 3.65 | 7,767.00 | 9.72 | 0.00 | ||||||||
Total | 240.71 | 10.59 | 210.90 | 6.87 | 94.99 | 3.65 | 20,032.52 | 25.06 | 0.00 | ||||||||
Ult | 2,136.83 | 187.81 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 1.00 | 46.30 | 32.47 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 608.92 | 580.92 | ||||||||||||||||||
2016 | 1.00 | 45.03 | 31.59 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 583.61 | 1,087.07 | ||||||||||||||||||
2017 | 1.00 | 43.56 | 30.55 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 554.21 | 1,523.99 | ||||||||||||||||||
2018 | 1.00 | 42.26 | 29.64 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 528.12 | 1,902.50 | ||||||||||||||||||
2019 | 1.00 | 40.99 | 28.75 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 502.81 | 2,230.14 | ||||||||||||||||||
2020 | 1.00 | 39.87 | 27.96 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 480.40 | 2,514.71 | ||||||||||||||||||
2021 | 1.00 | 38.56 | 27.05 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 454.37 | 2,759.37 | ||||||||||||||||||
2022 | 1.00 | 37.41 | 26.24 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 431.27 | 2,970.49 | ||||||||||||||||||
2023 | 1.00 | 36.29 | 25.45 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 408.87 | 3,152.46 | ||||||||||||||||||
2024 | 1.00 | 35.29 | 24.76 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 389.03 | 3,309.87 | ||||||||||||||||||
2025 | 1.00 | 34.14 | 23.95 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 365.99 | 3,444.47 | ||||||||||||||||||
2026 | 1.00 | 33.12 | 23.23 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 345.54 | 3,560.00 | ||||||||||||||||||
2027 | 1.00 | 32.12 | 22.53 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 325.70 | 3,659.01 | ||||||||||||||||||
2028 | 1.00 | 31.25 | 21.92 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 308.14 | 3,744.16 | ||||||||||||||||||
2029 | 1.00 | 30.23 | 21.20 | 0.00 | 0.00 | 316.16 | 0.00 | 0.00 | 287.74 | 3,816.44 | ||||||||||||||||||
Rem. | 358.68 | 251.58 | 0.00 | 0.00 | 4,742.46 | 0.00 | 0.00 | 2,424.00 | 356.93 | |||||||||||||||||||
Total | 925.09 | 648.86 | 0.00 | 0.00 | 9,484.92 | 0.00 | 0.00 | 8,998.70 | 4,173.38 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 12/31/2044 | |||||
Perfs: | 6330-6356 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 1,020.00 | bbl/month | Revenue Int: | 0.87616100 | PW | 5.00%: | 5,778.11 | |
Abandonment: | 409.01 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 4,700.29 | |
Initial Decline: | 3.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 4,173.38 | |
Beg ratio: | 0.044 | Years to Payout: | 0.00 | PW | 12.00%: | 3,751.53 | ||
End Ratio: | 0.044 | Internal ROR (%): | 0.00 | PW | 15.00%: | 3,259.16 | ||
PW | 20.00%: | 2,681.90 | ||||||
TRC Eco Detailed.rpt | 14 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | MCCREIGHT GA 1-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 1,716.64 | |||||||
Cum Gas (MMcf): | 147.44 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
NON-ECONOMIC | |||||||||||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Ult | 1,716.64 | 147.44 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 1/1/2015 | |||||
Perfs: | 4085-6387 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 153.00 | bbl/month | Revenue Int: | 0.87500000 | PW | 5.00%: | 0.00 | |
Abandonment: | 153.00 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 0.00 | |
Initial Decline: | 2.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 0.00 | |
Beg ratio: | 0.287 | Years to Payout: | 0.00 | PW | 12.00%: | 0.00 | ||
End Ratio: | 0.287 | Internal ROR (%): | 0.00 | PW | 15.00%: | 0.00 | ||
PW | 20.00% : | 0.00 | ||||||
TRC Eco Detailed.rpt | 15 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | RADNEY 1, 2, 3-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD (TX), TX | |||||||
Cum Oil (Mbbl): | 1,380.89 | |||||||
Cum Gas (MMcf): | 0.19 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 5.69 | 0.00 | 4.08 | 0.00 | 94.99 | 0.00 | 387.35 | 0.00 | 0.00 | ||||||||
2016 | 5.14 | 0.00 | 3.68 | 0.00 | 94.99 | 0.00 | 349.54 | 0.00 | 0.00 | ||||||||
2017 | 4.61 | 0.00 | 3.30 | 0.00 | 94.99 | 0.00 | 313.71 | 0.00 | 0.00 | ||||||||
2018 | 2.29 | 0.00 | 1.64 | 0.00 | 94.99 | 0.00 | 156.08 | 0.00 | 0.00 | ||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 17.73 | 0.00 | 12.70 | 0.00 | 94.99 | 0.00 | 1,206.68 | 0.00 | 0.00 | ||||||||
Ult | 1,398.62 | 0.19 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 1.00 | 17.85 | 12.53 | 0.00 | 0.00 | 259.33 | 0.00 | 0.00 | 97.63 | 93.35 | ||||||||||||||||||
2016 | 1.00 | 16.11 | 11.31 | 0.00 | 0.00 | 259.33 | 0.00 | 0.00 | 62.79 | 148.00 | ||||||||||||||||||
2017 | 1.00 | 14.46 | 10.15 | 0.00 | 0.00 | 259.33 | 0.00 | 0.00 | 29.77 | 171.61 | ||||||||||||||||||
2018 | 1.00 | 7.19 | 5.05 | 0.00 | 0.00 | 138.47 | 0.00 | 0.00 | 5.37 | 175.57 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 55.61 | 39.04 | 0.00 | 0.00 | 916.46 | 0.00 | 0.00 | 195.57 | 175.57 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 7/16/2018 | |||||
Perfs: | 5120-8069 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 500.00 | bbl/month | Revenue Int: | 0.71656247 | PW | 5.00%: | 184.92 | |
Abandonment: | 344.34 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 179.17 | |
Initial Decline: | 10.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 175.57 | |
Beg ratio: | 0.000 | Years to Payout: | 0.00 | PW | 12.00%: | 172.15 | ||
End Ratio: | 0.000 | Internal ROR (%): | 0.00 | PW | 15.00%: | 167.31 | ||
PW | 20.00%: | 159.95 | ||||||
TRC Eco Detailed.rpt | 16 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | ROBERTSON JM 3, 4-0 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 2,143.23 | |||||||
Cum Gas (MMcf): | 202.70 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 11.98 | 1.02 | 10.48 | 0.62 | 94.99 | 3.65 | 995.32 | 2.28 | 0.00 | ||||||||
2016 | 11.10 | 0.94 | 9.71 | 0.58 | 94.99 | 3.65 | 922.49 | 2.11 | 0.00 | ||||||||
2017 | 10.27 | 0.87 | 8.99 | 0.53 | 94.99 | 3.65 | 853.97 | 1.95 | 0.00 | ||||||||
2018 | 9.58 | 0.81 | 8.38 | 0.50 | 94.99 | 3.65 | 795.83 | 1.82 | 0.00 | ||||||||
2019 | 8.95 | 0.76 | 7.84 | 0.47 | 94.99 | 3.65 | 744.22 | 1.70 | 0.00 | ||||||||
2020 | 8.42 | 0.72 | 7.37 | 0.44 | 94.99 | 3.65 | 699.99 | 1.60 | 0.00 | ||||||||
2021 | 7.90 | 0.67 | 6.91 | 0.41 | 94.99 | 3.65 | 656.66 | 1.50 | 0.00 | ||||||||
2022 | 6.44 | 0.55 | 5.63 | 0.34 | 94.99 | 3.65 | 534.94 | 1.22 | 0.00 | ||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 74.64 | 6.34 | 65.31 | 3.89 | 94.99 | 3.65 | 6,203.41 | 14.18 | 0.00 | ||||||||
Ult | 2,217.87 | 209.04 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 2.00 | 46.04 | 32.27 | 0.00 | 0.00 | 561.07 | 0.00 | 0.00 | 358.21 | 342.10 | ||||||||||||||||||
2016 | 2.00 | 42.67 | 29.91 | 0.00 | 0.00 | 561.07 | 0.00 | 0.00 | 290.94 | 594.74 | ||||||||||||||||||
2017 | 2.00 | 39.50 | 27.69 | 0.00 | 0.00 | 561.07 | 0.00 | 0.00 | 227.66 | 774.43 | ||||||||||||||||||
2018 | 2.00 | 36.81 | 25.80 | 0.00 | 0.00 | 561.07 | 0.00 | 0.00 | 173.96 | 899.28 | ||||||||||||||||||
2019 | 2.00 | 34.43 | 24.13 | 0.00 | 0.00 | 561.07 | 0.00 | 0.00 | 126.29 | 981.70 | ||||||||||||||||||
2020 | 2.00 | 32.38 | 22.70 | 0.00 | 0.00 | 561.07 | 0.00 | 0.00 | 85.44 | 1,032.45 | ||||||||||||||||||
2021 | 2.00 | 30.38 | 21.29 | 0.00 | 0.00 | 561.07 | 0.00 | 0.00 | 45.43 | 1,056.99 | ||||||||||||||||||
2022 | 2.00 | 24.74 | 17.34 | 0.00 | 0.00 | 477.16 | 0.00 | 0.00 | 16.91 | 1,065.41 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 286.95 | 201.14 | 0.00 | 0.00 | 4,404.66 | 0.00 | 0.00 | 1,324.83 | 1,065.41 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 11/10/2022 | |||||
Perfs: | 6248-6428 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 1,040.00 | bbl/month | Revenue Int: | 0.87500000 | PW | 5.00%: | 1,180.82 | |
Abandonment: | 608.73 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 1,108.66 | |
Initial Decline: | 8.00 | % year b = 0.730 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 1,065.41 | |
Beg ratio: | 0.085 | Years to Payout: | 0.00 | PW | 12.00%: | 1,025.54 | ||
End Ratio: | 0.085 | Internal ROR (%): | 0.00 | PW | 15.00%: | 971.34 | ||
PW | 20.00%: | 893.52 | ||||||
TRC Eco Detailed.rpt | 17 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | SKEEN-CL 1-1 | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | COKE | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 1,334.34 | |||||||
Cum Gas (MMcf): | 0.76 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 9.67 | 0.00 | 7.54 | 0.00 | 94.99 | 0.00 | 716.60 | 0.00 | 0.00 | ||||||||
2016 | 8.73 | 0.00 | 6.81 | 0.00 | 94.99 | 0.00 | 646.66 | 0.00 | 0.00 | ||||||||
2017 | 7.84 | 0.00 | 6.11 | 0.00 | 94.99 | 0.00 | 580.36 | 0.00 | 0.00 | ||||||||
2018 | 7.05 | 0.00 | 5.50 | 0.00 | 94.99 | 0.00 | 522.36 | 0.00 | 0.00 | ||||||||
2019 | 6.35 | 0.00 | 4.95 | 0.00 | 94.99 | 0.00 | 470.16 | 0.00 | 0.00 | ||||||||
2020 | 5.73 | 0.00 | 4.47 | 0.00 | 94.99 | 0.00 | 424.27 | 0.00 | 0.00 | ||||||||
2021 | 5.14 | 0.00 | 4.01 | 0.00 | 94.99 | 0.00 | 380.77 | 0.00 | 0.00 | ||||||||
2022 | 4.63 | 0.00 | 3.61 | 0.00 | 94.99 | 0.00 | 342.72 | 0.00 | 0.00 | ||||||||
2023 | 1.95 | 0.00 | 1.52 | 0.00 | 94.99 | 0.00 | 144.32 | 0.00 | 0.00 | ||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 57.09 | 0.00 | 44.51 | 0.00 | 94.99 | 0.00 | 4,228.24 | 0.00 | 0.00 | ||||||||
Ult | 1,391.43 | 0.76 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 1.00 | 33.02 | 23.18 | 0.00 | 0.00 | 285.85 | 0.00 | 0.00 | 374.54 | 357.69 | ||||||||||||||||||
2016 | 1.00 | 29.80 | 20.92 | 0.00 | 0.00 | 285.85 | 0.00 | 0.00 | 310.09 | 626.94 | ||||||||||||||||||
2017 | 1.00 | 26.75 | 18.77 | 0.00 | 0.00 | 285.85 | 0.00 | 0.00 | 248.99 | 823.49 | ||||||||||||||||||
2018 | 1.00 | 24.07 | 16.90 | 0.00 | 0.00 | 285.85 | 0.00 | 0.00 | 195.54 | 963.84 | ||||||||||||||||||
2019 | 1.00 | 21.67 | 15.21 | 0.00 | 0.00 | 285.85 | 0.00 | 0.00 | 147.43 | 1,060.08 | ||||||||||||||||||
2020 | 1.00 | 19.55 | 13.73 | 0.00 | 0.00 | 285.85 | 0.00 | 0.00 | 105.14 | 1,122.52 | ||||||||||||||||||
2021 | 1.00 | 17.55 | 12.32 | 0.00 | 0.00 | 285.85 | 0.00 | 0.00 | 65.06 | 1,157.66 | ||||||||||||||||||
2022 | 1.00 | 15.79 | 11.09 | 0.00 | 0.00 | 285.85 | 0.00 | 0.00 | 29.99 | 1,172.44 | ||||||||||||||||||
2023 | 1.00 | 6.65 | 4.67 | 0.00 | 0.00 | 128.59 | 0.00 | 0.00 | 4.41 | 1,174.46 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 194.86 | 136.78 | 0.00 | 0.00 | 2,415.41 | 0.00 | 0.00 | 1,481.18 | 1,174.46 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 6/15/2023 | |||||
Perfs: | 0-6336 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 850.00 | bbl/month | Revenue Int: | 0.77979515 | PW | 5.00%: | 1,310.10 | |
Abandonment: | 348.79 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 1,225.14 | |
Initial Decline: | 10.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 1,174.46 | |
Beg ratio: | 0.000 | Years to Payout: | 0.00 | PW | 12.00%: | 1,127.94 | ||
End Ratio: | 0.000 | Internal ROR (%): | 0.00 | PW | 15.00%: | 1,064.96 | ||
PW | 20.00%: | 975.73 | ||||||
TRC Eco Detailed.rpt | 18 | |
Date: 01/30/2015 10:18:28AM | ||||||||
ECONOMIC SUMMARY PROJECTION | ||||||||
Project Name: | Glori - YE2014 | As of Date: | 01/01/2015 | Case: | WHITE SL ETAL 1,11,15,2,3,4,5 - 11L | |||
Partner: | GLORI ENERGY, INC. | Discount Rate (%): | 10.00 | Reserve Cat: | Proved Producing | |||
Case Type: | LEASE CASE | All Cases | Field: | QUITMAN | ||||
Archive Set: | YE 2014 | Operator: | GLORI ENERGY HOLDINGS INC. | |||||
Oil Price: $94.99/Bbl Gas Price: $4.30/MMBtu | Reservoir: | PALUXY | ||||||
Co., State: | WOOD, TX | |||||||
Cum Oil (Mbbl): | 6,807.75 | |||||||
Cum Gas (MMcf): | 1,951.64 | |||||||
Year | Gross Oil | Gross Gas | Net Oil | Net Gas | Oil Price | Gas Price | Oil Revenue | Gas Revenue | Misc. Revenue | ||||||||
(Mbbl) | (MMcf) | (Mbbl) | (MMcf) | ($/bbl) | ($/Mcf) | (M$) | (M$) | (M$) | |||||||||
2015 | 4.09 | 0.00 | 3.58 | 0.00 | 94.99 | 0.00 | 340.33 | 0.00 | 0.00 | ||||||||
2016 | 3.57 | 0.00 | 3.13 | 0.00 | 94.99 | 0.00 | 297.37 | 0.00 | 0.00 | ||||||||
Rem | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
Total | 7.67 | 0.00 | 6.71 | 0.00 | 94.99 | 0.00 | 637.70 | 0.00 | 0.00 | ||||||||
Ult | 6,815.41 | 1,951.64 | |||||||||||||||
Year | Well Count | Net Tax Production | Net Tax AdValorem | Net Investment | Net Lease Costs | Net Well Costs | Other Costs | Net Profits | Annual Cash Flow | Cum Disc. Cash Flow | ||||||||||||||||||
(M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | (M$) | ||||||||||||||||||||
2015 | 3.00 | 15.68 | 11.01 | 0.00 | 0.00 | 292.00 | 0.00 | 0.00 | 21.64 | 20.70 | ||||||||||||||||||
2016 | 3.00 | 13.70 | 9.62 | 0.00 | 0.00 | 267.66 | 0.00 | 0.00 | 6.38 | 26.33 | ||||||||||||||||||
Rem. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||
Total | 29.39 | 20.63 | 0.00 | 0.00 | 559.66 | 0.00 | 0.00 | 28.02 | 26.33 | |||||||||||||||||||
Major Phase: | Oil | Abandonment Date: | 11/30/2016 | |||||
Perfs: | 8324-8327 | Working Int: | 1.00000000 | Present Worth Profile (M$) | ||||
Initial Rate: | 350.00 | bbl/month | Revenue Int: | 0.87574150 | PW | 5.00%: | 27.14 | |
Abandonment: | 317.23 | bbl/month | Disc. Initial Invest. (M$): | 0.00 | PW | 8.00%: | 26.64 | |
Initial Decline: | 5.00 | % year b = 0.000 | ROInvestment (disc/undisc) | 0.00/0.00 | PW | 10.00%: | 26.33 | |
Beg ratio: | 0.000 | Years to Payout: | 0.00 | PW | 12.00%: | 26.02 | ||
End Ratio: | 0.000 | Internal ROR (%): | 0.00 | PW | 15.00%: | 25.59 | ||
PW | 20.00%: | 24.91 | ||||||
TRC Eco Detailed.rpt | 19 | |