- Leucrotta Exploration (LXE) has announced its 2021 year-end reserves
- President & CEO Rob Zakresky sat down with Dave Jackson to discuss the news
- Highlights include a 43 per cent increase in total proved reserves and a $261 million increase in net asset value
- Leucrotta Exploration Inc is a Canadian-based oil and gas company
- Leucrotta Exploration Inc. (LXE) opened trading at C$0.91 per share
Leucrotta Exploration (LXE) has announced its 2021 year-end reserves as independently evaluated by GLJ Ltd. effective December 31, 2021.
President & CEO Rob Zakresky sat down with Dave Jackson to discuss the news.
Reserve highlights
Leucrotta is pleased to report material reserve and value increases notwithstanding the sale of the Doe property that had 10.7 million boe booked as noted above:
- Increased proved producing reserves by 71 per cent to 7.7 million boe from 4.5 million boe
- Increased total proved reserves by 43 per cent to 21.1 million boe from 14.8 million boe
- Increased total proved plus probable reserves by 16 per cent to 50.7 million boe from 43.6 million boe
- Increased proved producing value by 241 per cent to $111.2 million from $32.6 million
- Increased total proved reserve value by 185 per cent to $167.8 from $58.8 million
- Increased total proved plus probable reserve value by 143 per cent to $393.9 million from $161.9 million
- Doubled net asset value to $528.2 million from $267.0 million (Per share increase of 60 per cent to $2.13 per share)
Leucrotta Exploration Inc is an oil and natural gas company operating in Canada. It is mainly engaged in the acquisition, development, exploration, and production of oil and natural gas reserves in northeastern British Columbia, Canada.
Leucrotta Exploration Inc. (LXE) opened trading at C$0.91 per share.
