Properties

Reserves  

Gentry's reserves were evaluated by independent engineers, Sproule Associates Limited, as of December 31, 2007.

Highlights

  • Proved plus probable reserves increased 29% to 13.0 million boe, up from 10.1 million boe recorded at December 31, 2006.
  • Proved reserves increased 18% to 7.9 million boe from 6.7 million boe on December 31, 2006.
  • Production replacement was 295% on a proved plus probable basis and 179% for proved reserves, based on 2007 production.
  • Oil and liquids represent 55% of proved plus probable reserves on a boe basis, up from 41% at the end of 2006.  Oil and liquids represent 51% of total proved reserves, an increase of 45% from year-end 2006.
  • Net present value of proved plus probable reserves, discounted at 5%, was up 29% to $258 million from the previous year; at a 10% discount the increase was 22% to $208 million.
  • Year-end net asset value per share, discounted at 5% was $4.86, and $3.95 when discounted at 10%.

Reserves Summary Table - Forecast prices & costs

Working Interest Reserves [1]
As at December 31 2007 2006
Oil & liquids
(mbbls)		 Gas
(mmcf)		 Oil equiv.
(mboe)		 Oil equiv.
(mboe)		 % Change
Proved
  Developed producing
  Developed non-producing
  Undeveloped
2,983
416
618
19,673
1,167
2,360
6,262
610
1,011
5,601
319
787
12
91
28
Total proved 4,017 23,199 7,883 6,706 18

Probable
  Developed producing

  Developed non-producing
  Undeveloped


866
225

2,008


7,403
570

4,131


2,100

320
2,697


1,419
152

1,831


48
111

47
Total probable 3,099 12,104 5,117 3,402 50
Proved plus probable 7,116 35,304 13,000 10,109 29

[1] Due to rounding, some columns may not ad precisely.