Drillsearch Energy Limited (ASX: DLS) today announced that an independent Reserves audit by RISC has confirmed a 22 per cent increase in the Bauer Oil Field’s 2P Reserves. The Bauer Oil Field is held by the PEL 91 Joint Venture which consists of Drillsearch 60% and Beach Energy as Operator 40%.
The latest independent audit review by RISC includes data from the recently drilled Bauer wells 6, 7 and 8 which were not included in the previous 31 July 2012 independent Reserves audit. With these additional appraisal/development wells, the gross 2P Reserves for the Bauer Oil Field have increased to 8.2 mmbbls.
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