Standardized Measure of Oil & Gas Quantities - Volume Rollforward | ||
Year Ended December 31, 2013 | ||
The following table sets forth the Company’s net proved reserves, including the changes therein, and proved developed reserves: | ||
Crude Oil (Bbls) | Natural Gas (Mcf) | |||||||
TOTAL PROVED RESERVES: | ||||||||
Beginning of period | 417,549 | - | ||||||
Acquisition | 572,461 | 3,139,595 | ||||||
Extensions and discoveries | 101,198 | - | ||||||
Revisions of previous estimates | (34,743 | ) | 3,539 | |||||
Production | (13,286 | ) | (3,540 | ) | ||||
End of period | 1,043,179 | 3,139,594 | ||||||
PROVED DEVELOPED RESERVES | ||||||||
Proved developed producing | 64,858 | 108,001 | ||||||
Proved developed nonproducing | 48,234 | 205,250 | ||||||
Total | 113,092 | 313,251 | ||||||
Total PUD | 930,087 | 2,826,343 | ||||||
Standardized Measure of Oil & Gas Quantities - Volume Rollforward | ||
Year Ended December 31, 2012 | ||
The following table sets forth the Company’s net proved reserves, including the changes therein, and proved developed reserves: |
Agreed to 10K | ||||||||
Crude Oil (Bbls) | Natural Gas (Mcf) | |||||||
TOTAL PROVED RESERVES: | ||||||||
Beginning of period | - | - | ||||||
Purchase of Minerals in place | - | - | ||||||
Extensions and discoveries | 428,204 | - | ||||||
Revisions of previous estimates | - | - | ||||||
Production | (10,655 | ) | - | |||||
End of period | 417,549 | - | ||||||
PROVED DEVELOPED RESERVES | ||||||||
Proved developed | 24,804 | - | ||||||
Total | 24,804 | - | ||||||
392,745 | - |
Standardized Measure of Oil & Gas Quantities - Footnote | ||||||||
Year Ended December 31, 2013 & 2012 | ||||||||
The standardized measure of discounted future net cash flows relating | Agreed to 10K | |||||||
to proved oil and natural gas reserves is as follows (in thousands): | ||||||||
Future cash inflows | $ | 119,629,906 | $ | 41,103,000 | ||||
Future production costs | (31,656,853 | ) | (12,413,000 | ) | ||||
Future development costs | (34,152,898 | ) | (18,755,000 | ) | ||||
Future income tax expense | (11,264,101 | ) | (1,012,000 | ) | ||||
Future net cash flows | 42,556,054 | 8,923,000 | ||||||
10% annual discount for estimated | ||||||||
timing of cash flows | (22,865,456 | ) | (6,014,000 | ) | ||||
Standardized measure of discounted future | ||||||||
net cash flows related to proved reserves | $ | 19,690,598 | $ | 2,909,000 | ||||
A summary of the changes in the standardized measure of discounted | ||||||||
future net cash flows applicable to proved oil and natural gas reserves | ||||||||
is as follows (in thousands): | Nothing in PY 10K | |||||||
Balance, beginning of period | $ | 2,909,000 | $ | - | ||||
Sales and transfers of oil and gas produced during the period | (905,125 | ) | - | |||||
Net change in sales and transfer prices and in production (lifting) costs related to future production | 2,267,471 | - | ||||||
Net change due to purchases of minerals in place | 30,474,988 | - | ||||||
Net change due to extensions and discoveries | 2,814,577 | - | ||||||
Changes in estimated future development costs | (17,355,723 | ) | - | |||||
Previously estimated development costs incurred during the period | 3,181,356 | - | ||||||
Net change due to revisions in quantity estimates | (949,883 | ) | - | |||||
Other | 2,001,122 | - | ||||||
Accretion of discount | 329,960 | - | ||||||
Net change in income taxes | (5,077,145 | ) | - | |||||
Balance, end of period | $ | 19,690,598 | $ | - |
Standardized Measure of Oil & Gas Quantities - Detail Calculations | |||
Year Ended December 31, 2013 | |||
EFFECTIVE FACTOR | ||||
Pretax net cash inflow before discount | 53,560,146 | |||
Pretax net cash inflow after discount (PV-10) | 26,524,574 | |||
Effective Factor | 49.52 | % | ||
COMPONENTS OF SMOG | |||||
Future cash inflows | 119,629,906 | WPCPA: Obtained from reserve report, oil and gas revenue | |||
Future production costs (includes abandonment and net profits expense) | (31,656,853 | ) | WPCPA: includes Ad Val. Tax prod. Tax, lease costs, well costs, other costs from reserve report | ||
Future development costs | (34,152,898 | ) | |||
Future income tax expense | (11,264,101 | ) | |||
Future net cash flows | 42,556,054 | ||||
10% annual discount for estimated timing of cash flows | (22,865,456 | ) | |||
Standardized measure of DFNCF | 19,690,598 | ||||
RECAP OF DISCOUNT: | ||||||||||||
Pretax | Tax | Total | ||||||||||
Undiscounted | 53,560,146 | (11,264,101 | ) | 42,296,045 | ||||||||
Discounted | 26,524,574 | (7,093,985 | ) | 19,430,589 | ||||||||
Discount | 27,035,572 | (4,170,116 | ) | 22,865,456 |
NET CHANGE IN PRICE AND COST | |||||||||||||||||||||||||
12/31/2012 | 12/31/2013 | ||||||||||||||||||||||||
Revenues | 41,103,000 | 119,629,906 | Add back current year sales | Less Curent year extensions | |||||||||||||||||||||
Future production and development costs | (12,413,000 | ) | (31,656,853 | ) | |||||||||||||||||||||
Net | 28,690,000 | 87,973,053 | 905,125 | 88,878,178 | 5,615,800 | 83,262,378 | |||||||||||||||||||
1,552,569 | 101,198 | 1,451,371 | |||||||||||||||||||||||
Oil Reserves per Reserve Report | 417,549 | WPCPA: Per Reserve report 2012 | 1,043,179 | $ | 57.25 | $ | 57.37 | ||||||||||||||||||
Gas Reserves per Reserve Report | - | 3,139,594 | |||||||||||||||||||||||
BOE | 417,549 | 1,566,445 | |||||||||||||||||||||||
Avg price net of production cost | 68.71049865 | 56.16095873 | |||||||||||||||||||||||
Change in prices and costs from 12/31/12 | $ | (11.34 | ) | ||||||||||||||||||||||
12/31/12 Reserves | 417,549 | ||||||||||||||||||||||||
Less: 2013 production | |||||||||||||||||||||||||
Oil | (13,286 | ) | WPCPA: From Depletion 2013-12-31 Schedule. | ||||||||||||||||||||||
Gas | (3,540 | ) | WPCPA: From Depletion 2013-12-31 Schedule. | ||||||||||||||||||||||
BOE | (13,876 | ) | |||||||||||||||||||||||
2012 reserves not sold | 403,673 | ||||||||||||||||||||||||
Net change in prices and cost, undisc | (4,578,625 | ) | |||||||||||||||||||||||
Disc factor | 49.52 | % | |||||||||||||||||||||||
Net change in prices and cost | (2,267,471 | ) |
CHANGE IN ESTIMATED FUTURE DEVELOPMENT COSTS | |||||
Development costs per 2012 reserve report | 18,755,000 | ||||
Less previously estimated costs incurred in 2013: | (3,181,356 | ) | WPCPA: Obtained from O&G property rollforward for Johnson 2 well additions | ||
Less development costs per 2013 Reserve Report | (34,152,898 | ) | |||
(18,579,254 | ) | ||||
Effective factor (used only first two years, when bulk of costs incurred) | 93.41 | % | |||
Changes in estimated future development costs | (17,355,722.85 | ) | |||
SALES OF OIL AND GAS PRODUCED | |||||
Sales: | Totals | ||||
1,318,329 | WPCPA: See 10K | ||||
Lease Operating Expense | 413,204 | WPCPA: See 10K | |||
905,125 |
VOLUME-RELATED CHANGES IN SMOG | ||||||||||||||||
Oil | Gas | BOE | ||||||||||||||
Extensions, discoveries, and improved recovery | ||||||||||||||||
Quantities | 101,198 | - | 101,198 | |||||||||||||
Avg price net of production cost | $ | 56.16 | ||||||||||||||
Product | $ | 5,683,377 | ||||||||||||||
Effective Factor | 49.52 | % | ||||||||||||||
$ | 2,814,577 | |||||||||||||||
Purchases of Minerals in Place | ||||||||||||||||
Quantities | 572,461 | 3,139,595 | 1,095,727 | |||||||||||||
Avg price net of production cost | $ | 56.16 | ||||||||||||||
Product | $ | 61,537,079 | ||||||||||||||
Effective Factor | 49.52 | % | ||||||||||||||
$ | 30,474,988 | N/A | ||||||||||||||
Sales of Minerals | ||||||||||||||||
Quantities | - | - | - | |||||||||||||
Avg price net of production cost | $ | 56.16 | ||||||||||||||
Product | $ | - | ||||||||||||||
Effective Factor | 49.52 | % | ||||||||||||||
$ | - | N/A | ||||||||||||||
Revisions of Previous Estimates | ||||||||||||||||
Quantities | (34,743 | ) | 3,539 | (34,153 | ) | |||||||||||
Avg price net of production cost | $ | 56.16 | ||||||||||||||
Product | $ | (1,918,065 | ) | |||||||||||||
Effective Factor | 49.52 | % | ||||||||||||||
$ | (949,883 | ) |
NET CHANGE IN INCOME TAXES | ||||
Method 1 - Compute change in undiscounted, then apply current discount factor. | ||||
Future income taxes at December 31, 2013 | $ | (11,264,101 | ) | |
Future income taxes at December 31, 2012 | (1,012,000 | ) | ||
Change in undiscounted future income taxes | (10,252,101 | ) | ||
Effective Factor | 49.52 | % | ||
$ | (5,077,145 | ) | ||
Method 2 - Compute change in discounted. | ||||
Future income taxes at December 31, 2013 | $ | (7,093,985 | ) | |
Future income taxes at December 31, 2012 | (499,433 | ) | ||
Change in undiscounted future income taxes | (6,594,552 | ) | ||
USED METHOD 2 |
ACCRETION OF DISCOUNT | ||||||||||||
Method 1 - Prior cash flows with current effective discount factors: | ||||||||||||
Year | 12/31/12 Undisc. Cash Flow | 12/31/2013 Factors | 12/31/2012 Cash Flow reflecting 12/31/2013 Discount Rates | |||||||||
2013 | (6,065,000 | ) | 1.00000000 | (6,065,000 | ) | |||||||
2014 | (2,100,800 | ) | 1.00164750 | (2,104,261 | ) | |||||||
2015 | 3,245,900 | 0.86664311 | 2,813,037 | |||||||||
2016 | 3,696,800 | 0.59780935 | 2,209,982 | |||||||||
2017 | 2,523,400 | 0.71576986 | 1,806,174 | |||||||||
2018 | 1,866,600 | 0.65321265 | 1,219,287 | |||||||||
2019 | 1,443,100 | 0.59341893 | 856,363 | |||||||||
2020 | 1,145,900 | 0.53925739 | 617,935 | |||||||||
2021 | 925,500 | 0.49010132 | 453,589 | |||||||||
2022 | 755,600 | 0.44539846 | 336,543 | |||||||||
2023 | 611,500 | 0.40501425 | 247,666 | |||||||||
2024 | 507,900 | 0.36815252 | 186,985 | |||||||||
2025 | 395,700 | 0.33478840 | 132,476 | |||||||||
2026 | 326,400 | 0.30408536 | 99,253 | |||||||||
2027 | 251,000 | 0.27665016 | 69,439 | |||||||||
REM | 405,500 | 0.25165956 | 102,048 | |||||||||
- | - | |||||||||||
- | - | |||||||||||
- | - | |||||||||||
- | - | |||||||||||
- | - | |||||||||||
9,935,000 | 2,981,515 | |||||||||||
12/31/2012 pre-tax PV-10 | 3,299,600 | |||||||||||
Accretion, method 1 | (318,085 | ) | ||||||||||
Method 2 - Prior PV-10 times 10% | ||||||||||||
12/31/12 pre-tax PV-10 | 3,299,600 | |||||||||||
Annual discount rate | 10 | % | ||||||||||
Accretion of discount | 329,960 | |||||||||||
USED Method 2 |
RECAP OF CHANGE IN SMOG | |||||
Balance at 12/31/12 | $ | 2,909,000 | |||
Incremental acquisition | - | ||||
Net changes in prices and production costs | 2,267,471 | ||||
Net changes in future development costs | (17,355,723 | ) | |||
Sales of oil and gas produced, net | (905,125 | ) | |||
Extensions and discoveries | 2,814,577 | ||||
Purchases of reserves | 30,474,988 | ||||
Sales of reserves | - | ||||
Revisions of previous quantity estimates | (949,883 | ) | |||
Previously estimated development costs incurred | 3,181,356 | ||||
Net change in income taxes | (5,077,145 | ) | |||
Accretion of discount | 329,960 | ||||
Other | 10.16% | 2,001,122 | |||
Balance at December 31, 2013 | $ | 19,690,598 |
Note that the following wells were added in the 2013 report but were not in the 2012 report | PV-10 | Undiscounted | oil | gas | |||||||||||||
Johnson 2 | 916,800 | 1,111,000 | 0 | ||||||||||||||
Johnson 2 BP | 0 | ||||||||||||||||
Johnson 4 | 519,900 | 668,000 | 0 | ||||||||||||||
LOC 11 AC | 0 | 0 | 0 | ||||||||||||||
LOC 11 AC IPB | 0 | 0 | 0 | ||||||||||||||
LOC 11 BUDA | 0 | ||||||||||||||||
LOC 12 EF HZ | 293,900 | 1,918,400 | 0 | ||||||||||||||
LOC 12 EF HZ IPB | 0 | ||||||||||||||||
LOC 12 EF HZ IPS | 0 | ||||||||||||||||
LOC 13 EF HZ | 291,600 | 1,918,400 | 101,198 | tab .5 | 0 | ||||||||||||
LOC 13 EF HZ IPB | 0 | ||||||||||||||||
LOC 13 EF HZ IPS | 0 | ||||||||||||||||
LOC 14 EF HZ | 0 | ||||||||||||||||
LOC 14 EF HZ IPS | 0 | ||||||||||||||||
LOC 15 EF HZ | 0 | ||||||||||||||||
LOC 15 EF HZ IPS | 0 | ||||||||||||||||
LOC 16 EF HZ | 0 | ||||||||||||||||
LOC 16 EF HZ IPS | 0 | ||||||||||||||||
\ | 2,022,200 | 5,615,800 | 101,198 | 0 |
TransAtlantic Petroleum Corp SMOG Footnote Support 2009 Estimate of Future Income Taxes | |||||||||||||||||||||||||
Beg Tax Basis | 7,810,066 | a) | Tax rate | 34.00% | Meas: Used the same tax rate from the 2012 SMOG. | ||||||||||||||||||||
NOL | 12,620,377 | Nathen McEown: See tab .4 in the tax provision. | b) | ||||||||||||||||||||||
a) | Tie out of tax bases: | ||||||||||||||||||||||||
Statutory Basis (TYL) | 12/31/2013 Spot Rate | Statutory Basis (USD) | |||||||||||||||||||||||
Oil and Gas Properties | 12,060,015 | Nathen McEown: Book value of: 14242819-551890-695506. O&G deferred tax difference of -935408 | 0.6476 | 7,810,066 | |||||||||||||||||||||
Total | 12,060,015 | 7,810,066 | |||||||||||||||||||||||
Collarini SEC Total Proved - 1/1/14 | |||||||||||||||||||||||||
YEAR | Oil | Gas | BOE | Beg reserves (BOE) | Depletion Rate | Capital | Tax Basis | Accum Amort | Depletable tax basis | Amortization | UDFNCF | DFNCF | Factors | UDFNCF | Plus Capital | Amortization | Net taxable, pre NOL | NOL LIMIT | Net taxable | Tax expense | Disc Tax Expense | ||||
2014 | 141,427 | 536,147 | 230,785 | 1,566,447 | 14.733% | 20,449,698 | 28,259,764 | 28,259,764 | 4,163,518 | 1 | (5,712,904) | (5,722,316) | 100.16475% | (5,712,904) | 20,449,698 | (4,163,518) | 10,573,276 | (10,573,276) | - | - | - | ||||
2015 | 123,471 | 461,613 | 200,407 | 1,335,662 | 15.004% | 2,203,200 | 30,462,964 | (4,163,518) | 26,299,446 | 3,946,053 | 2 | 10,322,826 | 8,946,206 | 86.66431% | 10,322,826 | 2,203,200 | (3,946,053) | 8,579,973 | (2,047,101) | 6,532,872 | (2,221,177) | (1,924,968) | |||
2016 | 130,596 | 259,663 | 173,873 | 1,135,255 | 15.316% | 10,500,000 | 40,962,964 | (8,109,571) | 32,853,393 | 5,031,749 | 3 | 1,619,155 | 967,946 | 59.78094% | 1,619,155 | 10,500,000 | (5,031,749) | 7,087,406 | 7,087,406 | (2,409,718) | (1,440,552) | ||||
2017 | 105,369 | 190,049 | 137,044 | 961,382 | 14.255% | 1,000,000 | 41,962,964 | (13,141,320) | 28,821,644 | 4,108,495 | 4 | 8,490,609 | 6,077,322 | 71.57699% | 8,490,609 | 1,000,000 | (4,108,495) | 5,382,114 | 5,382,114 | (1,829,919) | (1,309,801) | ||||
2018 | 72,230 | 152,867 | 97,708 | 824,338 | 11.853% | - | 41,962,964 | (17,249,815) | 24,713,149 | 2,929,226 | 5 | 6,304,708 | 4,118,315 | 65.32126% | 6,304,708 | - | (2,929,226) | 3,375,482 | 3,375,482 | (1,147,664) | (749,669) | ||||
2019 | 56,106 | 129,176 | 77,635 | 726,630 | 10.684% | - | 41,962,964 | (20,179,041) | 21,783,923 | 2,327,450 | 6 | 4,730,631 | 2,807,246 | 59.34189% | 4,730,631 | - | (2,327,450) | 2,403,181 | 2,403,181 | (817,082) | (484,872) | ||||
2020 | 46,622 | 112,568 | 65,383 | 648,995 | 10.074% | - | 41,962,964 | (22,506,491) | 19,456,473 | 1,960,142 | 7 | 3,793,541 | 2,045,695 | 53.92574% | 3,793,541 | - | (1,960,142) | 1,833,399 | 1,833,399 | (623,356) | (336,149) | ||||
2021 | 40,151 | 100,192 | 56,850 | 583,612 | 9.741% | - | 41,962,964 | (24,466,633) | 17,496,331 | 1,704,328 | 8 | 3,150,116 | 1,543,876 | 49.01013% | 3,150,116 | - | (1,704,328) | 1,445,788 | 1,445,788 | (491,568) | (240,918) | ||||
2022 | 35,397 | 90,567 | 50,492 | 526,762 | 9.585% | - | 41,962,964 | (26,170,961) | 15,792,003 | 1,513,719 | 9 | 2,674,998 | 1,191,440 | 44.53985% | 2,674,998 | - | (1,513,719) | 1,161,279 | 1,161,279 | (394,835) | (175,859) | ||||
2023 | 31,735 | 82,839 | 45,542 | 476,270 | 9.562% | - | 41,962,964 | (27,684,681) | 14,278,283 | 1,365,321 | 10 | 2,307,383 | 934,523 | 40.50143% | 2,307,383 | - | (1,365,321) | 942,062 | 942,062 | (320,301) | (129,726) | ||||
2024 | 28,807 | 76,480 | 41,554 | 430,728 | 9.647% | - | 41,962,964 | (29,050,002) | 12,912,962 | 1,245,764 | 11 | 2,012,894 | 741,052 | 36.81525% | 2,012,894 | - | (1,245,764) | 767,130 | 767,130 | (260,824) | (96,023) | ||||
2025 | 26,401 | 71,144 | 38,258 | 389,174 | 9.831% | - | 41,962,964 | (30,295,765) | 11,667,199 | 1,146,951 | 12 | 1,769,676 | 592,467 | 33.47884% | 1,769,676 | - | (1,146,951) | 622,725 | 622,725 | (211,726) | (70,883) | ||||
2026 | 24,016 | 66,591 | 35,115 | 350,916 | 10.007% | - | 41,962,964 | (31,442,717) | 10,520,247 | 1,052,726 | 13 | 1,562,775 | 475,217 | 30.40854% | 1,562,775 | - | (1,052,726) | 510,049 | 510,049 | (173,417) | (52,734) | ||||
2027 | 21,583 | 62,567 | 32,011 | 315,801 | 10.136% | - | 41,962,964 | (32,495,443) | 9,467,521 | 959,670 | 14 | 1,352,900 | 374,280 | 27.66502% | 1,352,900 | - | (959,670) | 393,230 | 393,230 | (133,698) | (36,988) | ||||
2028 | 17,529 | 58,832 | 27,334 | 283,790 | 9.632% | - | 41,962,964 | (33,455,113) | 8,507,851 | 819,457 | 15 | 1,150,157 | 289,448 | 25.16596% | 1,150,157 | - | (819,457) | 330,700 | 330,700 | (112,438) | (28,296) | ||||
rem | 141,739 | 688,299 | 256,456 | 256,456 | 100.000% | - | 41,962,964 | (34,274,570) | 7,688,394 | 7,688,394 | 16 | 8,030,681 | 1,141,857 | 14.21868% | 8,030,681 | - | (7,688,394) | 342,287 | 342,287 | (116,378) | (16,547) | ||||
1,043,179 | 3,139,594 | 1,566,447 | 34,152,898 | 41,962,964 | 53,560,146 | 26,524,574 | 49.52297% | 53,560,146 | 34,152,898 | (41,962,964) | 45,750,080 | (12,620,377) | 33,129,703 | (11,264,101) | (7,093,985) | ||||||||||
2014 | (5,712,904) | (5,722,316) | (5,722,316) | ||||||||||||||||||||||
2015 | 10,322,826 | 3,223,890 | 8,946,206 | ||||||||||||||||||||||
2016 | 1,619,155 | 4,191,836 | 967,946 | ||||||||||||||||||||||
2017 | 8,490,609 | 10,269,158 | 6,077,322 | ||||||||||||||||||||||
2018 | 6,304,708 | 14,387,473 | 4,118,315 | ||||||||||||||||||||||
2019 | 4,730,631 | 17,194,719 | 2,807,246 | ||||||||||||||||||||||
2020 | 3,793,541 | 19,240,414 | 2,045,695 | ||||||||||||||||||||||
2021 | 3,150,116 | 20,784,290 | 1,543,876 | ||||||||||||||||||||||
2022 | 2,674,998 | 21,975,730 | 1,191,440 | ||||||||||||||||||||||
2023 | 2,307,383 | 22,910,253 | 934,523 | ||||||||||||||||||||||
2024 | 2,012,894 | 23,651,305 | 741,052 | ||||||||||||||||||||||
2025 | 1,769,676 | 24,243,772 | 592,467 | ||||||||||||||||||||||
2026 | 1,562,775 | 24,718,989 | 475,217 | ||||||||||||||||||||||
2027 | 1,352,900 | 25,093,269 | 374,280 | ||||||||||||||||||||||
2028 | 1,150,157 | 25,382,717 | 289,448 | ||||||||||||||||||||||
rem | 8,030,681 | 26,524,574 | 1,141,857 | ||||||||||||||||||||||
- | - | - | |||||||||||||||||||||||
- | - | - | |||||||||||||||||||||||
- | - | - | |||||||||||||||||||||||
- | - | - | |||||||||||||||||||||||
- | - | - |
TransAtlantic Petroleum Corp SMOG Footnote Support 2009 Estimate of Future Income Taxes | |||||||||||||||||||||||||
Beg Tax Basis | 7,810,066 | a) | Tax rate | 34.00% | Nathen McEown: Used the same tax rate for SMOG as used for the pro forma tax in the audited BRCI May 31, 2011 pro forma tax. The rate used for the pro forma is 34%. | ||||||||||||||||||||
NOL | 5,616,449 | Nathen McEown: See provision | b) | ||||||||||||||||||||||
a) | Tie out of tax bases: | ||||||||||||||||||||||||
Statutory Basis (TYL) | 12/31/2012 Spot Rate | Statutory Basis (USD) | |||||||||||||||||||||||
Oil and Gas Properties | 12,060,015 | 0.6476 | 7,810,066 | ||||||||||||||||||||||
Total | 12,060,015 | 7,810,066 | |||||||||||||||||||||||
Collarini SEC Total Proved - 1/1/13 plus 2013 and forward amounts from reserve report | |||||||||||||||||||||||||
YEAR | Oil | Gas | BOE | Beg reserves (BOE) | Depletion Rate | Capital | Tax Basis | Accum Amort | Depletable tax basis | Amortization | UDFNCF | DFNCF | Factors | UDFNCF | Plus Capital | Amortization | Net taxable, pre NOL | NOL LIMIT | Net taxable | Tax expense | Disc Tax Expense | ||||
2013 | 10,814 | - | 10,814 | 417,549 | 2.590% | 6,950,000 | 14,760,066 | 14,760,066 | 382,267 | 1 | (6,065,000) | (5,553,200) | 91.56142% | (6,065,000) | 6,950,000 | (382,267) | 502,733 | (502,733) | - | - | - | ||||
2014 | 81,078 | - | 81,078 | 406,735 | 19.934% | 9,075,000 | 23,835,066 | (382,267) | 23,452,799 | 4,675,049 | 2 | (2,100,800) | (1,906,300) | 90.74162% | (2,100,800) | 9,075,000 | (4,675,049) | 2,299,151 | (2,299,151) | - | - | - | |||
2015 | 69,980 | - | 69,980 | 325,657 | 21.489% | 2,550,000 | 26,385,066 | (5,057,316) | 21,327,750 | 4,583,092 | 3 | 3,245,900 | 2,530,500 | 77.95989% | 3,245,900 | 2,550,000 | (4,583,092) | 1,212,808 | (2,814,565) | (1,601,757) | 544,597 | 424,567 | |||
2016 | 47,150 | - | 47,150 | 255,677 | 18.441% | - | 26,385,066 | (9,640,408) | 16,744,658 | 3,087,922 | 4 | 3,696,800 | 2,658,400 | 71.91084% | 3,696,800 | - | (3,087,922) | 608,878 | 608,878 | (207,019) | (148,869) | ||||
2017 | 34,202 | - | 34,202 | 208,527 | 16.402% | - | 26,385,066 | (12,728,330) | 13,656,736 | 2,239,939 | 5 | 2,523,400 | 1,648,200 | 65.31664% | 2,523,400 | - | (2,239,939) | 283,461 | 283,461 | (96,377) | (62,950) | ||||
2018 | 26,955 | - | 26,955 | 174,325 | 15.462% | - | 26,385,066 | (14,968,269) | 11,416,797 | 1,765,322 | 6 | 1,866,600 | 136,800 | 7.32883% | 1,866,600 | - | (1,765,322) | 101,278 | 101,278 | (34,434) | (2,524) | ||||
2019 | 22,280 | - | 22,280 | 147,370 | 15.118% | - | 26,385,066 | (16,733,591) | 9,651,475 | 1,459,150 | 7 | 1,443,100 | 1,749,700 | 121.24593% | 1,443,100 | - | (1,459,150) | (16,050) | (16,050) | 5,457 | 6,616 | ||||
2020 | 18,999 | - | 18,999 | 125,090 | 15.188% | - | 26,385,066 | (18,192,740) | 8,192,326 | 1,244,272 | 8 | 1,145,900 | 561,600 | 49.00951% | 1,145,900 | - | (1,244,272) | (98,372) | (98,372) | 33,447 | 16,392 | ||||
2021 | 16,567 | - | 16,567 | 106,091 | 15.616% | - | 26,385,066 | (19,437,012) | 6,948,054 | 1,084,997 | 9 | 925,500 | 412,500 | 44.57050% | 925,500 | - | (1,084,997) | (159,497) | (159,497) | 54,229 | 24,170 | ||||
2022 | 14,582 | - | 14,582 | 89,524 | 16.288% | - | 26,385,066 | (20,522,009) | 5,863,057 | 954,996 | 10 | 755,600 | 306,000 | 40.49762% | 755,600 | - | (954,996) | (199,396) | (199,396) | �� 67,795 | 27,455 | ||||
2023 | 12,882 | - | 12,882 | 74,942 | 17.189% | - | 26,385,066 | (21,477,006) | 4,908,060 | 843,661 | 11 | 611,500 | 225,100 | 36.81112% | 611,500 | - | (843,661) | (232,161) | (232,161) | 78,935 | 29,057 | ||||
2024 | 11,588 | - | 11,588 | 62,060 | 18.672% | - | 26,385,066 | (22,320,666) | 4,064,400 | 758,915 | 12 | 507,900 | 170,100 | 33.49084% | 507,900 | - | (758,915) | (251,015) | (251,015) | 85,345 | 28,583 | ||||
2025 | 10,061 | - | 10,061 | 50,472 | 19.934% | - | 26,385,066 | (23,079,581) | 3,305,485 | 658,909 | 13 | 395,700 | 120,600 | 30.47763% | 395,700 | - | (658,909) | (263,209) | (263,209) | 89,491 | 27,275 | ||||
2026 | 9,130 | - | 9,130 | 40,411 | 22.593% | - | 26,385,066 | (23,738,491) | 2,646,575 | 597,937 | 14 | 326,400 | 90,400 | 27.69608% | 326,400 | - | (597,937) | (271,537) | (271,537) | 92,323 | 25,570 | ||||
2027 | 8,023 | - | 8,023 | 31,281 | 25.648% | - | 26,385,066 | (24,336,428) | 2,048,638 | 525,438 | 15 | 251,000 | 63,200 | 25.17928% | 251,000 | - | (525,438) | (274,438) | (274,438) | 93,309 | 23,495 | ||||
Rem | 23,258 | - | 23,258 | 23,258 | 100.000% | - | 26,385,066 | (24,861,866) | 1,523,200 | 1,523,200 | 16 | 405,500 | 86,000 | 21.20838% | 405,500 | - | (1,523,200) | (1,117,700) | (1,117,700) | 380,018 | 80,596 | ||||
417,549 | - | 417,549 | 18,575,000 | 26,385,066 | 9,935,000 | 3,299,600 | 33.21188% | 9,935,000 | 18,575,000 | (26,385,066) | 2,124,934 | (5,616,449) | (3,491,515) | 1,187,116 | 499,433 | ||||||||||
2013 | (6,065,000) | (5,553,200) | (5,553,200) | ||||||||||||||||||||||
2014 | (2,100,800) | (7,459,500) | (1,906,300) | ||||||||||||||||||||||
2015 | 3,245,900 | (4,929,000) | 2,530,500 | ||||||||||||||||||||||
2016 | 3,696,800 | (2,270,600) | 2,658,400 | ||||||||||||||||||||||
2017 | 2,523,400 | (622,400) | 1,648,200 | ||||||||||||||||||||||
2018 | 1,866,600 | (485,600) | 136,800 | ||||||||||||||||||||||
2019 | 1,443,100 | 1,264,100 | 1,749,700 | ||||||||||||||||||||||
2020 | 1,145,900 | 1,825,700 | 561,600 | ||||||||||||||||||||||
2021 | 925,500 | 2,238,200 | 412,500 | ||||||||||||||||||||||
2022 | 755,600 | 2,544,200 | 306,000 | ||||||||||||||||||||||
2023 | 611,500 | 2,769,300 | 225,100 | ||||||||||||||||||||||
2024 | 507,900 | 2,939,400 | 170,100 | ||||||||||||||||||||||
2025 | 395,700 | 3,060,000 | 120,600 | ||||||||||||||||||||||
2026 | 326,400 | 3,150,400 | 90,400 | ||||||||||||||||||||||
2027 | 251,000 | 3,213,600 | 63,200 | ||||||||||||||||||||||
Rem | 405,500 | 3,299,600 | 86,000 | ||||||||||||||||||||||
NUMBER | NAME | NS1212 RESCAT | TORCHL YE12 OIL NET RESERVES | NS1213 RESCAT | TORCHL YE13 OIL NET RESERVES | 2013 Net Oil Prod | Category | Change | Notes | ||
000001 | JOHNSON 1BH | 11000 | 10,516 | 11000 | 17,139 | 3,867 | Revision | 10,490 | |||
000002 | JOHNSON 4 | 11000 | 14,288 | 11000 | 13,759 | 3,269 | Revision | 2,740 | |||
000003 | LOC 6 BUDA / JOHNSON 2 | 14000 | 22,743 | 11000 | 18,528 | 3,467 | Revision | -748 | Moved to PDP | -22,743 | |
400001 | LOC 12 EF HZ | 14000 | 124,669 | 14000 | 99,606 | Revision | -25,063 | ||||
400004 | LOC 13 EF HZ | 14000 | 124,669 | 14000 | 99,606 | Revision | -25,063 | ||||
400005 | LOC 1 AC | 14000 | 0 | 14000 | 10,985 | Extension | 10,985 | ||||
400006 | LOC 2 AC | 14000 | 0 | 14000 | 10,985 | Extension | 10,985 | ||||
400007 | LOC 3 AC | 14000 | 0 | 14000 | 16,830 | Extension | 16,830 | ||||
400008 | LOC 4 AC | 14000 | 0 | 14000 | 16,830 | Extension | 16,830 | ||||
400012 | LOC 1 BUDA | 14000 | 14,846 | 14000 | 14,873 | Revision | 27 | ||||
400013 | LOC 2 BUDA | 14000 | 14,846 | 14000 | 14,873 | Revision | 27 | ||||
400014 | LOC 3 BUDA | 14000 | 22,743 | 14000 | 22,784 | Revision | 41 | ||||
400015 | LOC 4 BUDA | 14000 | 22,743 | 14000 | 22,784 | Revision | 41 | ||||
400016 | LOC 5 BUDA | 14000 | 22,743 | 14000 | 22,784 | Revision | 41 | ||||
400018 | LOC 8 BUDA | 14000 | 22,743 | 14000 | 22,784 | Revision | 41 | ||||
400021 | LOC 9 BUDA | 14000 | 22,784 | Extension | 22,784 | ||||||
400022 | LOC 10 BUDA | 14000 | 22,784 | Extension | 22,784 | ||||||
2013 Production | |||||||||||
Total Proved BO | 417,549 | Total Proved BO | 470,718 | 10,603 | |||||||
Production | Addition | ||||||||||
11000 | 24,804 | 11000 | 49,426 | 10,603 | 35,225 | ||||||
14000 | 392,745 | 14000 | 421,292 | 0 | 28,547 | ||||||
63,772 | Total Proved Addition | ||||||||||
11000 = PDP | |||||||||||
14000 = PUD | |||||||||||
Revision | -37,426 | ||||||||||
Extension | 101,198 | tab .3 | |||||||||
Discovery | 0 | ||||||||||
Changes to PUD | |||||||||||
Moved to PDP | -22,743 | ||||||||||
Revisions | -49,908 | ||||||||||
Extensions | 101,198 | ||||||||||
28,547 |