Diaz Resources Records 18 Percent Drop in Reserves in 2012

Diaz Resources Ltd. (TSXV:DZR) announced a summary of reserves as of December 31, 2012.

As quoted in the market report:

The Company recorded a year-over-year 18% decrease in proved plus probable reserves to 1,005 MBOE at December 31, 2012. The estimated net present value of future net revenue attributable to the Company’s reserves, before tax, using a 10% discount rate, decreased by 24% to $12.2 million (88% oil), compared with $15.9 million at December 31, 2011.

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