The reserve report is expected to be completed within the next two weeks. The report is necessary in order to put together a complete development plan for the field including an infill drilling program, the company said.
Additional information from the report will be used to evaluate PDNP (Proved developed non-producing) reserves that are easily converted to PDP (Proved developed producing) through low cost workovers.
The company is also exploring several options for financing this development and additional property acquisitions that are currently targeted by the company. These options include traditional bank financing, bringing in an industry partner or creating a joint venture with a financial partner.
