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Strata Power Corp Provides Updated 51-101 Report
Strata Power Corp Provides Updated 51-101 Report.
About this update from Strata Pwr Corp.
[{"type":"text","content":"CALGARY, AB / ACCESSWIRE / May 2, 2019 / Strata Power Corp ("Strata") (SPOWF) reported Strata's contingent and prospective resources data as of year-end in its oil and gas annual disclosure filing (Form 51-101F1). Strata's resources data is based on an independent evaluation conducted by Gustavson Associates and was prepared in accordance with National Instrument 51-101 (NI 51-101) and the Canadian Oil and Gas Evaluation Handbook (COGEH). The contingent resource P50 estimate is 1,696,800,000 MMSTBO (million stock tank barrels of oil). The results are summarized in the table below: Gross Unrisked Contingent Resource (MMSTBO) Cadotte Central P90 P50 P10 Bluesky 55.9 68.6 84.3 Debolt 910.5 1,118.0 1,372.7 Elkton 415.5 510.2 626.4 Total 1,381.9 1,696.8 2,083.4 Gross Unrisked Prospective Resource (MMSTBO) Cadotte West P90 P50 P10 Bluesky 63.6 78.1 95.9 Debolt 485.7 596.4 732.3 Elkton 198.5 243.7 299.2 Total 747.8 918.2 1,127.4 The Cadotte Central resource is classified as Contingent Resource - Development on Hold (COGEH v. 2 - section 2.5.5, p. 2-71). The contingencies consist of the demonstration of commerciality, financing, and the submission of a regulatory application. Contingent Resources are defined as "those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations, but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies. Contingent Resources may include, for example, projects for which there are currently no viable markets, or where commercial recovery is dependent on technology under development, or where evaluation of the accumulation is insufficient to clearly assess commerciality. Contingent Resources are further categorized in accordance with the level of certainty associated with the estimates and may be sub-classified based on project maturity and/or characterized by their economic status."The Cadotte West resource is classified as Undiscovered - Prospective Resource and is subclassified as a Prospect. Prospective Resources are defined as "those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects." Prospective Resources have both an associated chance of discovery...