Hurricane Revises Reserve Estimates Upward

British Hurricane Exploration has today announced a positive revision of previous gas reserve potential, with figures higher than previously estimated.

The new revised figures, released today, are contained in a competent person’s report (CPR) by RPS Energy Consultants Limited. The revision puts Lancaster at 2C contingent resources of 207 million barrels of oil equivalent (boe) and Whirlwind at between 179 and 205 million boe.

The revisions bring Hurricane's contingent resources are put at between 444 and 447 million boe and prospective resources  between 432 and 442 million boe.

"The Lancaster and Whirlwind discoveries compare favourably with the average size of UKCS (UK Continental Shelf) discoveries in 2009 (below 20 MMboe) and 2010 (23 MMboe) respectively," Hurricane said.

Chief executive of Hurricane Robert Trice said the findings validated the company's current operations.

"The report supports Hurricane’s successful discovery of significant potentially recoverable resources, and provides support for our geological model, our volumetric approach and for our concept and time-lines for the development of our Lancaster discovery," he said.