Tuscany Energy Reports Summary of its 2011 Reserve Estimates

Tuscany Energy Ltd. (TSXV:TUS) reported a summary of its 2011 reserve estimates.

As quoted in the press release:

2011 Reserves

• The Company recorded a 49% increase in proved plus probable reserves to 1,714 MBOE at December 31, 2011. The net present value of the Company’s reserves, before tax, using a 10% discount rate, increased by 62% to $37.0 million (97% oil), compared with $22.9 million at December 31, 2010.

Click here to read the Tuscany Energy Ltd. (TSXV:TUS) press release.