AJM Petroleum Consultants

AJM Petroleum Consultants

September 24, 2008 23:59 ET

Caution Urged Regarding BC's Resource Potential

CALGARY, ALBERTA--(Marketwire - Sept. 24, 2008) - Recent excitement about resource potential numbers in British Columbia must be tempered by an assessment of the technically recoverable resource potential and actual marketable resource potential said Robin Mann, CEO of AJM Petroleum Consultants, at a talk on Resource, Reserve and Deliverability Trends and Challenges in the Western Canadian Sedimentary Basin (WCSB) at today's Insight Information's 2008 Pacific Canada Gas Forum in Vancouver.

"If you add up all the numbers, the natural gas resource potential of hot prospects like the Montney play and the Horn River play in British Columbia currently ranges from 600 to 2000 trillion cubic feet (Tcf)," said Mr. Mann. "But, rather than just looking at the estimated resource potential, investors need to focus on the marketable reserve potential of these plays, which while still impressive, isn't as large as the estimated resource potential."

Independent analysis lead by Mr. Mann at AJM Petroleum Consultants suggests that while the estimated resource potential of the Montney play ranges between 50 and 415 Tcf, the marketable resource potential is more likely to be in the 7 to 63 Tcf range. Similarly in Horn River, while the estimated resource potential reaches 308 Tcf, the total marketable resource is probably in the 21 to 110 Tcf range.

"There is no denying that the resource potential of British Columbia is very large," said Mr. Mann. "However, the nature of the resource and its location means only a small percentage of it will be converted into reserves in the short term." To access Robin Mann's presentation, visit www.ajmpc.com

AJM Petroleum Consultants is a private Canadian company that provides a full spectrum of evaluation services to both the domestic and international oil and gas industry, as well as consulting to regulatory bodies, financial houses, and investment analysts. With more than 70 professional and technical members of staff, AJM offers expertise in all areas of oil and gas, including in the unconventional reserves and resources of coalbed methane, tight gas, shale gas, bitumen and heavy oil.

Contact Information

  • AJM Petroleum Consultants
    Andrea Conway
    (403) 648-3269 or Cell: (403) 561-8620