SkyWest Energy Increases Year End Reserves and Net Asset Value

SkyWest Energy Corp. (TSXV:SKW) updates on the company’s 2010 year end reserves.

The press release is quoted as saying:

Increased proved plus probable reserves to 10.96 MMboe (52 percent oil and NGL’s) and proved reserves to 4.81 MMboe (56 percent oil and NGL’s). The net present value (“NPV”) of SkyWest’s year end 2010 total proved plus probable reserves, at 10% discounted value before tax, is $126 million. SkyWest estimated net asset value is $0.62 per basic share using (PVBT10) values on proved plus probable reserves. Maintained a long reserve life index of 15.0 years based on the 2010 exit production rate of 2,000 boe/d.

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