Independent certification of reserves and resources in Israel - ENERGEAN OIL & GAS

London, 16 August 2018

Energean Oil and Gas plc (LSE: ENOG), the independent oil and gas exploration and production company focused on the Eastern Mediterranean, is pleased to announce that it has received an updated independent Competent Persons Report from Netherland Sewell & Associates (“NSAI”) for its Israeli portfolio. The updated CPR includes the certification of 63 bcm (2.2 Tcf) of 2P reserves and 7.5 Tcf of gross prospective resources and is the first assessment of prospective resources in the new Blocks (12, 21, 22, 23 and 31) that were awarded as part of the recent offshore licencing round.

The updated CPR includes 63 bcm (2.2 Tcf) of gas and 31.8 million barrels of liquids (gross, Energean 70%) of 2P reserves in the Karish and Tanin fields. Energean’s independently certified net 2P reserves are now 349 mmboe, an increase from the 51 mmboe estimated when Energean undertook its London Stock Exchange listing in March 2018.

Contingent resources in the Karish field of 5.4 bcm (0.2 Tcf) of gas and 1.0 million barrels of liquids (Gross, Energean 70%) are recognised. Remaining contingent resource relates to the Karish B reservoir. Overall 2P reserves plus contingent resources across the Karish and Tanin leases remain the same.

Tamar partners won't cut IEC gas prices until 2021 - GLOBES

7 Feb, 2018 14:20
Kobi Yeshayahou

A report ahead of next month's bond issue by Tamar Petroleum says the partners will only revise down the price at which it sells gas to Israel Electric in 2021 and only by 12.5%.

Ahead of next month's planned bond issue by Tamar Petroleum for the purpose of completing the deal for the acquisition of 7.5% of the rights in the Tamar natural gas reservoir from Noble Energy, the partnerships in Tamar today published a revised report on the reservoir, including its projected cash flow.

Energean doubles estimates for Karish, Tanin gas reserves - GLOBES

2 Nov, 2017 12:29
Sonia Gorodeisky

The Karish and Tanin reservoirs contain a potential of 136 billion cubic meters of natural gas - double the initial estimates, according to NSAI.

Greek energy company Energean announced this morning that according to independent assessments by the Netherland, Sewell & Associates Inc. (NSAI) engineering firm, the Karish and Tanin reservoirs contain a potential of 136 billion cubic meters (BCM) of natural gas - double the initial estimates.

Energean reports first CPR results for two blocks, offshore Montenegro - WORLD OIL

 Comparison of SPE and NPD Classifications

OCTOBER/19/2017

LONDON -- Energean Oil & Gas has announced the first Competent Persons Report (CPR) for its assets offshore Montenegro, compiled by Netherland Sewell & Associates (NSAI), detailing the recoverable gas and liquids resource estimates in respect to Energean’s 100% interest in blocks 4218-30 and 4219-26.

The CPR shows the combined net unrisked prospective recoverable resources (P50) for the two blocks, awarded to the Company earlier this year, as 1.8 Tcf natural gas and 144 MMbbl liquids (438 MMboe in total).