• YE22 1P, 2P and 3P reserves respectively stand at 45.4 mmbbl, 96.7 mmbbl and 168.3 mmbbl. This represents increases of respectively 21%, 24% and 14% versus YE21.
• The higher 2P reserves reflect an increase to the Oil Initially in Place estimate (+14%) and an improved recovery factor (+2%). The 2P case recovery factor is still 24%.
• The 2022 Reserve Life Index for 1P and 2P reserves, are 10.1 and 22 years respectively with a higher production run rate of 12.2 mbbl/d, compared to 7.3 mbbl/d pr ....

01 Feb 2023
PetroTal Corp (AIM: PTAL): Another significant reserves increase

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PetroTal Corp (AIM: PTAL): Another significant reserves increase
• YE22 1P, 2P and 3P reserves respectively stand at 45.4 mmbbl, 96.7 mmbbl and 168.3 mmbbl. This represents increases of respectively 21%, 24% and 14% versus YE21.
• The higher 2P reserves reflect an increase to the Oil Initially in Place estimate (+14%) and an improved recovery factor (+2%). The 2P case recovery factor is still 24%.
• The 2022 Reserve Life Index for 1P and 2P reserves, are 10.1 and 22 years respectively with a higher production run rate of 12.2 mbbl/d, compared to 7.3 mbbl/d pr ....