Reserves contributed in a unitisation

Entities A and B enter into a unitisation agreement and contribute Licenses A and B, respectively. The table below shows the initial determination, redetermination and final determination of the reserves in each of the fields.

Initial determination

Redeterminationn

Final determination

mboe

mboe

mboe

License A

20

40.%

19

37.%

21

39.%

License B

30

60.%

32

63.%

33

61.%

50

100.%

51

100.%

54

100.%

Although Licenses A and B were unitised, ultimately Entity A will be entitled to 21 mboe and Entity B will be entitled to 33 mboe, which is exactly the same quantity that they would have been entitled to had there been no unitisation.

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