New ETF Book by Larry Connors - Click here to read more
The company paid approximately USD1.54 per mcfe for these gas reserves based upon engineering reports and certain standard assumptions. The property is expected to replace approximately 152% of FieldPoint's 2009 anticipated (BOE) barrels of oil equivalent oil and gas production.
In addition, the company intends for an active redevelopment programme as well as additional operations designed to increase production and current reserves in the acquired field.
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