DeeThree Exploration (TSX:DTX,OTCQX:DTHRF) announced that their year-end reserves have jumped by 108 percent.
As quoted in the press release:
HIGHLIGHTS OF 2012 RESERVE REPORT
- Total proved reserves have increased from 7.4 million boe at December 31, 2011 to 14.4 million boe (78% oil and NGLs) as at December 31, 2012 representing a 95% increase; total proved plus probable reserves have increased from 9.7 million boe at December 31, 2011 to 20.2 million boe (78% oil and NGLs) as at December 31, 2012 representing an 108% increase.
- Increased proved plus probable crude oil reserves significantly to 14.8 million boe from 4.6 million boe at year end 2011.
- On a fully diluted per share basis, increased proved plus probable reserves by 83% and increased proved reserves by 71%.
- Reserve life index of approximately 10.4 years on a proved plus probable basis and 7.4 years on a proved basis (based on 2012 fourth quarter average production of approximately 5,300 boe/d)