Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K DATED APRIL 18, 2011 - Freedom Holding Corp. | form8k041811.htm |
| EX-99.2 - Freedom Holding Corp. | ex992form8k041811.htm |
| EX-99.1 - Freedom Holding Corp. | ex991form8k041811.htm |
Exhibit 99.3
Excerpts from Reserve and Economic Evaluation
Oil and Gas Properties
ADEK Block
Republic of Kazakhstan
January 1, 2011
(December 31, 2010)
Prepared for MIE Holding Corporation
by Chapman Petroleum Engineering Ltd.
The following table summarizes the Target Company’s gross and net developed and undeveloped land by block as of December 31, 2010:
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As at December 31, 2010
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Developed
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Undeveloped
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Total
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Gross
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Net
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Gross
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Gross
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Net
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Gross
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(in Acres)
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ADE Block
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970
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970
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46,785
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46,785
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47,755
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47,755
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Southeast Block
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750
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750
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65,165
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65,165
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65,915
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65,915
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BMB Munai, Inc.
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Summary of Oil and Gas Reserves
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January 1, 2011
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(as of December 31, 2010)
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Forecast Prices and Costs
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Company Reserves
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Light and Medium Oil
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Heavy Oil
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Natural Gas [1]
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Natural Gas Liquids
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Gross
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Net
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Gross
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Net
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Gross
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Net
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Gross
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Net
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Reserves Category
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MSTB
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MSTB
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MSTB
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MSTB
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MMscf
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MMscf
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Mbbl
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Mbbl
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PROVED
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Developed Producing
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8,030
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8,030
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0
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0
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6,322
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6,322
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0
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0
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|||||||||
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Developed Non-Producing
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12,919
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12,919
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0
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0
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16,526
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16,526
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0
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0
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|||||||||
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Undeveloped
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2,590
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2,590
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0
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0
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3,994
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3,994
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0
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0
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|||||||||
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TOTAL PROVED
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23,539
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23,539
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0
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0
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26,842
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26,842
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0
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0
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|||||||||
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PROBABLE
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61,451
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61,451
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0
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0
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36,821
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36,821
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0
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0
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|||||||||
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TOTAL PROVED PLUS PROBABLE
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84,990
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84,990
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0
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0
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63,663
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63,663
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0
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0
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|||||||||
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POSSIBLE
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29,714
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29,714
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0
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0
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34,155
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34,155
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0
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0
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|||||||||
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TOTAL PROVED PLUS PROBABLE PLUS POSSIBLE
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114,704
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114,704
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0
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0
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97,818
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97,818
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0
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0
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|||||||||
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Reference: Item 2.1 (1) Form 51-101F1
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Columns may not add precisely due to accumulative rounding of values throughout the report.
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Notes:
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[1]
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Includes associated, non-associated and solution gas where applicable.
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BMB Munai, Inc.
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Summary of Net Present Values
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January 1, 2011
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(as of December 31, 2010)
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Forecast Prices and Costs
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Before Income Tax
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Net Present Values of Future Net Revenue
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Discounted at
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0 %/yr.
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5 %/yr.
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10 %/yr.
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15 %/yr.
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20 %/yr.
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Reserves Category
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M$
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M$
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M$
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M$
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M$
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PROVED
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Developed Producing
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386,500
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271,250
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210,125
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172,886
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147,851
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Developed Non-Producing
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624,071
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414,395
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303,747
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237,412
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193,736
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||||||
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Undeveloped
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96,314
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70,553
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52,863
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40,370
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31,331
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TOTAL PROVED
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1,106,885
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756,198
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566,735
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450,668
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372,918
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||||||
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PROBABLE
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2,675,462
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1,282,065
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745,750
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486,584
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341,172
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||||||
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TOTAL PROVED PLUS PROBABLE
|
3,782,347
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2,038,263
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1,312,485
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937,252
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714,090
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