QMAC Announces Reserve Estimates for Its Interest in the Lake Francis, Montana Gas Wells.SPOKANE Spokane, city, United States Spokane (spōkăn`), city (1990 pop. 177,196), seat of Spokane co., E Wash., at the spectacular falls of the Spokane River; inc. 1881. , Wash. -- QMAC QMAC QAM (Quadrature Amplitude Modulation) Multiple-Access Channel QMAC Qualified Matching Contributions (qualified retirement plans) QMAC Queen's Marketing Association Conference (Canada) Energy Inc. (Pink Sheets:QMCG), a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. with a gas development program and producing wells in Montana Montana (mŏntăn`ə), Rocky Mt. state in the NW United States. It is bounded by North Dakota and South Dakota (E), Wyoming (S), Idaho (W), and the Canadian provinces of British Columbia, Alberta, and Saskatchewan (N). , announces reserve estimates for its interest in the Lake Francis Francis, French prince, duke of Alençon and Anjou Francis, 1554–84, French prince, duke of Alençon and Anjou; youngest son of King Henry II of France and Catherine de' Medici. , Montana gas wells. The company is pleased to provide the following present estimated reserves for its interest in the Lake Francis, Montana gas wells.
RESERVE SUMMARY
W.I.O.
MMscf
Proved Producing 137
Developed Producing 90
Probable 150
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Total 377
RESERVES TERMINOLOGY
Proved Producing Reserves
Are those reserves that can be estimated with a high degree of
certainty to be recoverable. It is likely that the actual
remaining quantities will exceed the estimated proven reserves.
(Proved Producing Reserves as reported in the Citadel Engineering
Ltd. Appraisal Report, Natural Gas Reserves, owned by QMAC Energy
Inc. Effective Date November 1, 2005)
Developed Producing Reserves
Are those reserves that are expected to be recovered from
completion intervals open at the time of the estimate. These
reserves may be currently producing, or, if shut-in, they must
have been previously on production and the date of the resumption
of production must be known with reasonable certainty. (Based on
QMAC projections for three new wells that were just connected and
are producing but to date do not have enough production history
for engineering analysis.)
Probable Reserves
Are those additional reserves that are less certain to be
recovered than proven reserves. It is likely that the actual
remaining quantities recovered will be the greater of less than
the sum of the estimated proved plus the probable reserves.
(QMAC's estimate is based on the undrilled spacing units
associated with the present producing reserves.)
W.I.O. means those reserves accruing to the Owner after deduction
of all outside working interests, but before deduction of all
lessor and overriding royalties and taxes.
MMscf
Million standard cubic feet of gas measured at standard
conditions.
QMAC Energy, Inc. is a Nevada Corporation, engaged in the business of natural gas exploration, drilling and production. QMAC's current operations consist of working interests in operating gas wells in Montana's Lake Frances gas field. QMAC expects the price of natural gas to remain high and demand to be strong. QMAC intends to aggressively add to its portfolio of operating gas wells throughout the Lake Frances gas well field. "American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Energy for Americans" Safe Harbour Statement: This news release may include 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 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 Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the United States Securities and Exchange of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the 'safe harbour' provisions of the United States Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements herein. |
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