Aurelian Oil & Gas has reportedly almost trebled its total prospective gas and oil resources.
The company’s total prospective gas resources have increased from 486 billion cubic feet (bcf) to 1,267 bcf, while its total prospective oil resources have increased from 105 million barrels to 385 million barrels.
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An independent review by Gaffney, Cline & Associates also indicated an increase in total contingent gas resources from 138 bcf to 372 bcf, an increase of 270%.
The oil and gas business has increased Aurelian’s estimated value by 381% to $9.20 (5.64 pounds) per share.
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