SKP Provides Prospective Resource Figures for East Siberian Asset

Source: www.gulfoilandgas.com 11/2/2016, Location: Asia

Skyland Petroleum Group Limited (SKP) is pleased to provide the prospective resource figures relating to the exploration potential within the Mirninsky Licence area located in the Sakha (Yakutia) Republic of the Russian Federation.

In addition to the encouraging estimate of reserves and resources for the licence area announced on 24 October 2016, Skyland received an addendum prospective resource report (dated 27 October 2016). The prospective resources are in addition to the contingent resources and reserves and the report supports the Company's view that this licence area does indeed contain substantial exploration upside.

In conjunction with this release, Skyland will lodge the addendum prospective resource report and the reserves and contingent resources report with the ASX so that both technical reports are accessible to the public.

The work was completed by Gustavson Associates LLC of Boulder Colorado, USA and the estimates of prospective resources included in this announcement have been prepared in accordance with the definitions and guidelines set forth in the Australian VALMIN Code and SPE-PRMS methodology.

Mr. Mark Sarssam, Chief Operating Officer, commented: 'The Company would like to thank Gustavson Associates for its timely completion of the independent audit. The prospective resources are significant and support the view that the license contains substantial upside in addition to the reserves and contingent resources previously reported.'


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Related Categories: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 

Related Articles: Formation Evaluation  General  Geological, Geophysical  Geophysical Contractors  Mud Logging  Reservoir Engineering & Recovery Methods  Seismic survey  Well Completion, Logging, Workover 


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