- Independent evaluation calculates net present value of company’s reserves in Chaveroo and Milnesand fields in New Mexico
- Hunter Oil Corp. plans to commence development in the third quarter of 2018
- Results of the evaluation of company’s oil and gas reserves show that its holdings in these two fields in the Permian Basin are 40.3 million barrels of oil equivalent (BOE)
- Company added 376 acres to its holdings in 2017, increasing its total position to more than 23,000 essentially contiguous acres in New Mexico
Hunter Oil Corp. (OTCQX: HOILF) (TSX.V: HOC) increased its position to 23,133 gross acres in the historic Chaveroo and Milnesand Fields in the Permian Basin of New Mexico in 2017, an independent evaluation reported (http://nnw.fm/bVzG8). Net present value of its reserves in these fields, discounted at 10 percent, is estimated at $829.7 million.
Hunter Oil plans to unlock the value in these resource-rich fields by leveraging existing infrastructure, increasing efficiency of operations and lowering operating costs…
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