Canada Strategic Metals

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Message: Re: Of Interest

Jun 26, 2008 12:45AM

Re: Of Interest

posted on Jun 26, 2008 01:43AM

As I can see there are some problems with the reserves estimations. The reduction was pretty aggresive...

".... the Company’s interest in total annual proven and producing reserves was estimated at 372.8 MMCF. Due to lower than expected 2007 production, the January 31, 2008 National Instrument 51-101 Economic Evaluation of Certain Natural Gas Reserves and Prospective Land Holdings report (the "January 31, 2008 Reserves Report") the Company’s estimated share of annual proven and producing reserves were reduced to 72.8 MMCF. The January 31, 2008 Reserve Report was revised according actual decline rates experienced in 2007 production. "

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