展览编号 99.1
2024年12月3日
加拿大巴恩威尔有限公司
西南第四大道500号，2410套
加拿大阿尔伯塔省
T2P 2V6
关于：对石油股和天然气资产的评估
加拿大巴恩威尔有限公司和奥克塔维安石油有限公司。
尊敬的先生们：
应要求，对加拿大巴恩威尔有限公司和奥克塔维安石油有限公司的所有WTI原油和天然气资产进行了评估，以下简称为“公司”。评估的资产位于加拿大阿尔伯塔省和不列颠哥伦比亚省。本报告中呈现的储量估算的有效日期为2024年9月30日。本次评估和报告的目的在于满足证券交易委员会（SEC）的报告要求。
所有公司的资产均进行了详细评估。单个资产的评估是在属于更大资产组合的背景下进行的。由于储量聚合的原则，总体组合的储量估算的置信度高于单个资产的估算。
本评估部分基于价格、货币兑换汇率和估计，未来可能与此处使用的预测有重大差异。此外，政府政策和法规的变化可能导致更高（或更低）的特许权使用费和税收，这一变化可能是实质性的；因此，本报告中记录的营业收入现值并不一定代表评估的储量的公允市场价值。考虑到可用数据的质量和数量，本报告中提出的储量估算在报告的有效日期被视为合理；然而，应该理解，估算日期之后的油藏表现可能需要进行修正，而这种修正可能是实质性的。
加拿大巴恩威尔有限公司加上奥克塔维安石油有限公司。
净储量总结 - 恒定价格和成本
| 净剩余储量 | |||||||||||||||||
| wti原油 (桶) | NGL + 凝析油 (桶) | 市场气体 (千立方英尺) | |||||||||||||||
| 已探明生产 | 735,600 | 168,900 | 4,005,700 | ||||||||||||||
| 已探明非生产 | 47,300 | 7,400 | 295,200 | ||||||||||||||
| Proved Undeveloped | 109,500 | 22,500 | 640,500 | ||||||||||||||
| Total Proved | 892,400 | 198,800 | 4,941,400 | ||||||||||||||
Constant prices were prepared based on posted prices of crude oil and natural gas, and natural gas liquids using a 12 month unweighted arithmetic average closing price of each commodity on the 1日 day of each month from October 1, 2023 through September 1, 2024 during the fiscal year. This report has been prepared using constant prices and costs and conforms to our understanding of the SEC’s guidelines and applicable financial accounting rules.
All prices used in the evaluation have been adjusted from posted prices for applicable quality, heating value and transportation considerations. The weighted average prices, after applicable adjustments, over the life of the properties used in the evaluation were US$ 70.15 barrel of oil, US$ 1.19 per Mcf of gas, US$ 34.90 per barrel of condensate and natural gas liquids.
During the course of the evaluation, the Company provided InSite Petroleum Consultants Ltd. (“InSite”) personnel with basic information including land data, well information, geological information, reservoir studies, estimates of on-stream dates, contract details, operating cost data, capital budget forecasts, operating statements and other financial data and future operating plans. Additional engineering, geological or economic data used in the preparation of this report were obtained from public records, other operators and from InSite non-confidential files. InSite encountered no indications that the data was incomplete or inaccurate. Should evidence become available in the future suggesting that the data was incomplete or inaccurate, InSite reserves the right to revise the estimates based on new data. Similarly, the performance of the producing entities subsequent to the effective date of this report may necessitate upward or downward revisions to the reserve and production estimates.
In conducting our reserve analysis, proved reserve volumes were determined by volumetric, material balance, and production decline curve methods. The volumetric reserves were determined by reviewing all well logs, core, and geological data. Recovery factors were assigned after analyzing the performance of similar wells in the area. Historical well production was reviewed to determine reserves calculated by production decline curve analysis where sufficient historical data was available. The order of preference in choosing the methodology to be used was firstly production decline curve analysis or material balance where sufficient data was available for such analysis with volumetric calculations used where there was a lack of historical data.
每个资产的生产和营业收入预测以及公司现金流摘要没有根据风险进行调整。所有赋有储量的油井的经济运行中都包括了油井废弃、拆除和场地恢复成本（ADR），以及没有赋予储量的生产油井、停产油井和现有设施的ADR成本。ADR成本和时间是根据公司的内部资产养老义务（ARO）估算采用的。
本报告依据的石油和天然气储量计算及收入预测，均按照普遍接受的评估实践进行判断。InSite在认为合适的情况下使用了所有假设、数据、方法和程序来准备本报告。
公司提供的所有权利的程度、特征和所有事实数据均按现有形式接受。InSite认为不需要进行现场检查。
在本报告中，毛（或公司股份）储量定义为公司在扣除任何特许权使用费之前拥有的可回收剩余储量总量。净储量是在扣除包括王室和自由持有特许权使用费在内的所有他人拥有权益后归属于公司的储量。报告中使用的储量类别定义符合SEC标准和S-X法规。
此致，
InSite石油顾问有限公司。
原件由彼得·哈达拉（Peter Hadala）签署，P. Eng.
(2024-12-03)
彼得·哈达拉（Peter Hadala），P. Eng.
总裁兼董事总经理
原件由Radu Afilipoaei签名，工程师。
(2024-12-03)
Radu Afilipoaei，工程师。
常务董事
原件由J. Ed Hasiuk签名，地质工程师。
(2024-12-03)
J. Ed Hasiuk，地质工程师。
高级地质学家