SSN said that Ryder Scott Company (RSC) has estimated the company?s Proved reserves to be 1.805 MMBOE and valued at $47.7 million.
Probable reserves have been estimated by RSC to be 1.09 MMBOE and valued at $12.8 million.
Possible reserves have been estimated by RSC to be 0.80 MMBOE and valued at $7.1 million.
The valuations are based on a discount rate of 10% and utilize the SEC pricing model.
Based on this new estimate, SSN has doubled its Proved NPV10 in the 11 month period from a NPV10 of $23.612 million as at April 30th 2013, to $47.722 million after accounting for production during that 11 month period.
SSN is an Australian based oil & gas company holding extensive development and exploration acreage in the USA.
More about Samson Oil & Gas Limited (SSN) at www.samsonoilandgas.com.au
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aau.jpg Almaden Minerals Ltd. (AAU)
AAU reported that it has entered into a number of confidentiality agreements in respect of its various projects.
AAU has assembled mineral exploration projects, including the Ixtaca Zone and the Tuligtic Project, through its grass roots exploration efforts. While the properties are largely at early stages of development they represent exciting opportunities for the discovery of significant gold, silver and copper deposits as evidenced at Ixtaca.
AAU's business model is to find and acquire mineral properties and develop them by seeking option agreements with others who can acquire an interest in a project by making payments and exploration expenditures. Through this means AAU has been able to expose its shareholders to discovery and capital gain without the funding and consequent share dilution that would be required if the company were to have developed these projects without a partner.
AAU intends to expand this business model, described by some as prospect generation, by more aggressively exploring and developing several of its projects including the Ixtaca Zone.
AAU recently announced positive results from the maiden National Instrument (NI) 43-101 compliant Preliminary Economic Assessment (PEA) on its 100% owned Ixtaca Gold-Silver deposit, Mexico. This deposit is a blind discovery made by AAU in 2010 on claims staked by the Company.
The PEA was prepared by Moose Mountain Technical Services and Knight Pi?sold Ltd. The conclusions and recommendations of the PEA are that the Ixtaca deposit may be economically viable and AAU should proceed to a Pre-Feasibility study.
According to AAU, the PEA highlights the significance of the Ixtaca deposit on a world scale and the projected average annual silver production could make Ixtaca one of the top 20 silver projects in the world
AAU is a well-financed mineral exploration company working in North America. It has assembled mineral exploration projects in Canada, the United States and Mexico, including the Ixtaca Zone of the Tuligtic Project, through its grass roots exploration efforts.
More about Almaden Minerals Ltd. (AAU) at www.almadenminerals.com