Big Sky Petroleum Corp. (TSXV:BSP) announced receiving a new NI 51-101 report for its Midland Basin Wolfcamp prospect. The report was prepared by Petrotech Engineering Ltd. Big Sky currently holds a 90% working interest in 3,450 net acres of oil and gas leases in Schleicher County.
As quoted in the press release:
The evaluation uses the definition of resources and follows the guidelines from the Canadian Oil and Gas Evaluation Handbook (“COGEH”). The net cash flow is calculated at forecast prices and escalated costs on the prospective resources, to all future time and after deduction of the capital and operating costs, royalties, but before deduction of income tax.