Reserves Report
Stuart’s Proven and Probable (2P) oil reserves at 31 December 2009 were 2.1 million barrels, compared with 2.3 million barrels at 30 June 2009. Proven (1P) reserves were 1.5 million barrels, compared with 1.7 million barrels at 30 June 2009.
These data are based on an independent review of reserves at 31 October 2009, by RISC, less accumulated production to the end of December 2009.
Remaining Reserves – Stuart Share
| Field | Working Interest % | Remaining Proven (1P)
Reserves
30 June 2008
'000 Barrels | Remaining Proven &
Probable (2P) Reserves
June 2008
'000 Barrels |
|---|
| Independently Reviewed |
|
|
|
| Acrasia |
75.00 |
78 |
106 |
| Derrilyn Unit |
35.00 |
135 |
174 |
| Padulla |
100.00 |
197 |
237 |
| Worrior |
70.00 |
1,039 |
1,455 |
| Other * |
|
45 |
82 |
| Total |
|
1,495 |
2,055 |
* Other includes Arwon, Harpoono Complex and Reg Sprigg West.
Contingent resources are recognised in the Might & Power, Dunoon and Comic fields in the Harpoono Complex.
Small volumes of possible reserves are recognised (in addition to the 2P reserves) in most producing reservoirs. The 2P figure includes undeveloped 2P reserves of 0.4 million barrels are recognised in the Worrior field and will be addressed by three projects during Q2 2010: Worrior 7 development well and workovers on Worrior 1 and Worrior 2.
All other reservoirs are now considered fully developed, with some additional recovery indicated by slower decline from existing wells.
The Company’s share of contingent gas resources at Kiwi and Worrior is unchanged at an estimated 1.8 billion cubic feet on a Proven plus Probable (2C) basis, of which 1.4 billion cubic feet are Proven (1C) resources.