Echo Energy Canada Inc.: Supplement To Reserve Information In October 18, 2004 News Release.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- Echo Energy Canada Inc. is pleased to supplement the reserve information that was presented in its news release on October 18, 2004 by stating the natural gas price forecast over 5 years that was used in the evaluations set forth in that news release.The tables below, which summarize sum·ma·rize intr. & tr.v. sum·ma·rized, sum·ma·riz·ing, sum·ma·riz·es To make a summary or make a summary of. sum the results of the evaluations of the company's 7 producing wells, were set forth in the company's October 18th, 2004 news release. The following table summarizes the results of this evaluation using forecasted gas prices and operating costs operating costs npl → gastos mpl operacionales on a before tax basis.
Reserves Company Net Present Worth Before Taxes
Category Reserves
Gross Net 0% 8% 10% 12.5% 15% 20%
Disc Disc Disc Disc Disc Disc
(BCF) (BCF) ($k) ($k) ($k) ($k) ($k) ($k)
Proven
Developed
Producing 5.11 4.80 $35,070 $11,473 $9,806 $8,330 $7,262 $5,803
The table below summarizes the results of this evaluation using
constant gas prices and operating costs on a before tax basis.
Reserves Category Company Net Present Worth Before Taxes
Reserves
Gross Net 0% 10% 15% 20%
Disc Disc Disc Disc
(BCF) (BCF) ($k) ($k) ($k) ($k)
Proven Developed Producing 5.11 4.980 $40,720 $12,505 $9,222 $7,290
The table below summarizes the results of the evaluations of
These 7 producing wells using forecasted gas prices and
operating costs on an after tax basis.
Reserves Company Net Present Worth After Taxes
Category Reserves
Gross Net 0% 8% 10% 12.5% 15% 20%
Disc Disc Disc Disc Disc Disc
(BCF) (BCF) ($k) ($k) ($k) ($k) ($k) ($k)
Proven
Developed
Producing 5.11 4.80 $22,097 $7,712 $6,667 $5,731 $5,046 $4,095
The table below summarizes the results of this evaluation using
constant gas prices and operating costs on an after tax basis.
Reserves Category Company Net Present Worth After Taxes
Reserves
Gross Net 0% 10% 15% 20%
Disc Disc Disc Disc
(BCF) (BCF) ($k) ($k) ($k) ($k)
Proven Developed Producing 5.11 4.980 $26,310 $8,499 $6,365 $5,092
The net cash flow values in this Proved Developed Producing evaluation include an estimate of all costs necessary to produce natural gas from these 7 wells, including well abandonment costs. The capital costs expended ex·pend tr.v. ex·pend·ed, ex·pend·ing, ex·pends 1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend. 2. to drill, complete, and equip e·quip tr.v. e·quipped, e·quip·ping, e·quips 1. a. To supply with necessities such as tools or provisions. b. the wells are not included in the net cash flows, however, the tax pools generated by some of these capital costs have been used in calculating the after tax evaluations. The gathering system is constructed by Pecho, so no capital cost pools are included for this gathering system. A gathering fee has been included in the economic analysis to cover costs to use this gathering system. This evaluation may not necessarily represent the fair market value of the natural gas reserves of the company. The company is pleased to provide the following supplemental information that was not set forth in the October 18th news release: The first 5 years of the natural gas price forecast used in the evaluation are summarized below:
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2004 2005 2006 2007 2008
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($/Mcf) ($/Mcf) ($/Mcf) ($/Mcf) ($/Mcf)
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Gas Price in Evaluation $9.49 $9.05 $7.53 $6.82 $6.71
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For the constant gas price evaluation, the natural gas price assumed for 2004 has been kept constant throughout the forecasted period. All reserves and resultant This article is about the resultant of polynomials. For the result of adding two or more vectors, see Parallelogram rule. For the technique in organ building, see Resultant (organ). In mathematics, the resultant of two monic polynomials values have been calculated using National Instrument 51-101 definitions and methodology and the COPE Handbook
This article is about reference works. For the subnotebook computer, see .
Statements in this news release that are not historical facts, including statements about plans and expectations regarding properties, reserves, transactions and opportunities, capital resources and future financial results are forward-looking. 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. involve risks and uncertainties which may cause the company's actual results in future periods to differ materially from those expressed.These uncertainties and risks include changing gas and commodity prices and currency exchange rates, demand for gas, lack of success of future exploration and development, competition and other factors discussed from time to time in the company's filings with the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. . Issued Capital: 51,201,915 Common Shares (Post-Split) Neither the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. nor any securities regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has approved or disapproved of this news release. Echo Energy Canada Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:EEI EEI Edison Electric Institute EEI Estación Espacial Internacional (Spanish: International Space Station) EEI Electrical and Electronics Institute (Thailand) EEI Electro Energy, Inc. ) |
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