Benton Oil and Gas Company Announces Potential Reserves.Business Editors CARPINTERIA, Calif.--(BUSINESS WIRE)--April 19, 2001 Benton Oil and Gas Company (NYSE NYSE See: New York Stock Exchange :BNO BNO Beroepsorganisatie Nederlandse Ontwerpers BNO Boys' Night Out (band) BNO Boyz Nite Out BNO Big Night Out (band) BNO Bau- und Nutzungsordnung BNO Baksan Neutrino Observatory ) today announced that Ryder Scott Company, L.P. has completed an estimate of the Company's probable and possible reserves as of December 31, 2000. Probable reserves were risked with a 50 percent factor and possible reserves were risked with an 80 percent factor.
MMBOE net to the Company
Venezuela Geoilbent Arctic Gas Total
Proved reserves 98 33 41 172
Probable reserves 28 17 13 58
Possible reserves 6 3 2 11
Total 132 53 56 241
Additional information regarding the Company's potential reserves can be found on the Company's web site at www.bentonoil.com. Benton Oil and Gas Company, headquartered in Carpinteria, California Carpinteria is a small oceanside city located in the southeastern extremity of Santa Barbara County, California, east of Santa Barbara and northwest of Ventura. The population was 14,194 at the 2000 census. , is an independent oil and gas exploration and development company with principal operations in Venezuela and Russia. Cautionary Note to U.S. Investors -- The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission permits oil and gas companies, in their filings with the SEC, to disclose only proved reserves proved reserves The quantity of minerals expected to be recoverable under current economic and operating conditions. The amount of proved reserves is important in valuing the stock of a company with significant holdings in natural resources. that a company has demonstrated by actual production or conclusive formation tests to be economically and legally producible under existing economic and operating conditions. We use certain terms in this press release, such as risked probable, possible and potential reserves, that the SEC's guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. strictly prohibit us from including in filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , File No. 1-10762, available from us at Benton Oil and Gas Company, 6267 Carpinteria Avenue, Carpinteria, California 93013. You can also obtain this form from the SEC by calling 1-800-SEC-0330. This press release may contain "Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this release may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from the Company's expectations due to changes in operating performance, project schedules, oil and gas demands and prices, and other technical and economic factors. |
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