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Peyto Energy Trust announces 2005 year end reserve report and distribution increase
Peyto Energy Trust announces 2005 year end reserve report and distribution increase.
About this update from Peyto Exploration & Development Corp.
[{"type":"text","content":"\n\n\n\n\nSYMBOL: PEY.UN - TSX\n\nCALGARY, Feb. 14 /CNW/ - Peyto Energy Trust (\"Peyto\") is pleased to\npresent the results of our independent reserve report effective December 31,\n2005. The evaluation encompassed 100% of the Trust's reserve assets and was\nconducted by Paddock Lindstrom and Associates in compliance with National\nInstrument 51-101.\n\nHighlights\n\n- The net present value (NPV) discounted at 5% of the total proved\n reserves grew 66% from $1.5 billion in 2004 to $2.5 billion in 2005.\n Adjusting for debt and equity this NPV grew 63%.\n- The NPV discounted at 5% of the proved plus probable additional\n reserves grew 62% from $2.0 billion in 2004 to $3.2 billion in 2005.\n Adjusting for debt and equity this NPV grew 57%.\n- The proved developed reserve life increased 14% from 10.1 years in 2004\n to 11.5 years in 2005. This reserve life grew due to the maturation of\n our tight gas wells and the scheduling of new processing capacity in\n the greater Sundance area.\n- The proved plus probable additional reserve life increased 10% from\n 17.1 years to 18.9 years. This growth in reserve life reflects Peyto's\n unique ability to internally generate its own high quality investments.\n The team continues to successfully replace what it develops with new\n opportunities.\n- Proved producing, total proved and proved plus probable additional\n reserves increased 24%, 20% and 18% respectively from 2004 to 2005.\n- Peyto replaced over 310% of its annual production with new proved\n producing reserves while replacing close to 400% with new proved plus\n probable additional reserves.\n- Our reserve and value growth was achieved by focusing 100% of our\n capital investments into internally generated projects. Peyto did not\n have to participate in the marginal acquisition market of 2005.\n\n>\n\n%SEDAR: 00019597E\n\n\n","length":17763,"tagName":"div"}]