Degolyer Macnaughton Provides Estimate Of Up To 10.57 TCF Original Gas-In-Place And Recoverable Gas-In-Place Of Up To 2.57 TCF At Hamburg
January 6, 2010
Mooncor estimates 2.57 tcf recoverable gas at Hamburg
Mr. Richard Cohen reports
DEGOLYER MACNAUGHTON PROVIDES ESTIMATE OF UP TO 10.57 TCF ORIGINAL GAS-IN-PLACE AND RECOVERABLE GAS-IN-PLACE OF UP TO 2.57 TCF AT HAMBURG
Mooncor Oil & Gas Corp. has received National Instrument 51-101-compliant reports from its independent qualified reserves evaluator, DeGolyer and MacNaughton Canada Ltd., related to its entire shale gas acreage located in the Hamburg area of northwest Alberta. The first report provides an estimate of contingent resources and the second report provides an estimate of prospective resources for Mooncor's entire 162-section Hamburg-area Devonian shale gas play.
DeGolyer and MacNaughton Canada Ltd. has provided a National Instrument 51-101-compliant estimate of contingent plus prospective resources for Mooncor at Hamburg of up to 10.57 trillion cubic feet of original gas-in-place. The total contingent plus prospective recoverable gas-in-place is estimated to be up to 2.57 trillion cubic feet.
Mooncor continues to assess its options and is holding discussions with several interested parties in respect to development of its Hamburg resources and further details will be communicated in due course, as appropriate.
The contingent resources estimated herein are those volumes of petroleum that are potentially recoverable from the known accumulation but which are not currently considered to be commercially recoverable. Because of the uncertainty of commerciality, the contingent resources estimated herein cannot be classified as reserves. The contingent resources estimates in this report are provided as a means of comparison to other contingent resources and do not provide a means of direct comparison to reserves. The contingent resources estimated in the DeGolyer and MacNaughton Canada Ltd. report have an economic status of undetermined.
