Gulfsands Petroleum

Production and Reserves

Production

We have no production data for this company yet

Reserves

The first reserves study at Khurbet East was carried out in the Cretaceous Massive Reservoir as of 1 January 2008. This study indicated gross life-of-field Proved and Probable Reserves of 66 million barrels of oil (“MMBO”) and Proved, Probable and Possible Reserves of 143 MMBO. Gulfsands net attributable Proved and Probable Reserves were estimated at 11.3 MMBO after royalties, taxes and government share

Proved and Probable Reserves in the USA Gulf of Mexico and onshore Gulf Coast were 40.7 billion cubic feet of natural gas equivalents (BCFGE), or 6.8 million barrels of oil equivalent (MMBOE), as of 31 December 2007 (44.6 BCFGE or 7.4 MMBOE at 31 December 2006). The net present value of the Proved and Probable Reserves at 31 December 2007 (discounted at 10%) increased to $226 million (2006: $197 million).

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