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WINNIPEG, MB / ACCESSWIRE / November 26, 2018 / Bird River Resources Inc. (CSE: BDR) (the “Bird River” or the “Compan””) announces the results of its independent reserves evaluation (the “Chapman Report”) dated November 15, 2018 and effective July 31, 2018, as prepared by Chapman Petroleum Engineering Ltd. (“Chapman”). Bird River is pleased to announce the Company’s year-end 2018 net asset value (“NAV”) per share is $0.36 per share. The Company also reported that its 2018 capital expenditure program resulted in total evaluated net reserves on a total proved plus probable basis, of 1.3 million barrels of oil equivalent (“boe”)- with 81 percent being oil. With the acquisition of High Point Oil Inc. (“High Point”) the Company has acquired significant high working interest properties in Alberta. These were further enhanced by High Point’s early summer drilling in 2018. In this press release, no comparison’s to prior period reserves or production has been provided as they are largely meaningless. Bird River’s previously owned Manitoba resource properties were not included in the above reserve report as they are not significant to the Company’s future activities producing only 1 bbl of oil per day. 2018 RESERVES HIGHLIGHTS The company’s focused operating strategy […]
