GEOI » Topics » Non-GAAP Reconcilation

These excerpts taken from the GEOI 10-K filed Mar 25, 2009.

Non-GAAP Reconcilation

The following table reconciles our direct interest in oil and gas reserves (in thousands):

 

Present value of estimated future net revenues (PV10)

   $ 150,616  

Future income taxes, discounted at 10%

     (29,997 )
        

Standardize measure of discounted future net cash flows

   $ 120,619  
        

The following table reconciles our indirect interest, through our affiliated partnerships, in oil and gas reserves (in thousands):

  

Present Value of estimated future net revenues (PV10)

   $ 30,272  

Future income taxes, discounted at 10%

     (12,401 )
        

Standardize measure of discounted future net cash flows

   $ 17,871  
        

Uncertainties are inherent in estimating quantities of proved reserves, including many risk factors beyond our control. Reserve engineering is a subjective process of estimating subsurface accumulations of oil and natural gas that cannot be measured in an exact manner, and the accuracy of any reserve estimate is a function of the quality of available data and the interpretation thereof. As a result, estimates by different engineers often vary, sometimes significantly. In addition, physical factors such as the results of drilling, testing and production subsequent to the date of the estimates, as well as economic factors such as change in product prices, may require revision of such estimates. Accordingly, oil and natural gas quantities ultimately recovered will vary from reserve estimates.

 

20


Table of Contents
Index to Financial Statements

Non-GAAP Reconcilation

The following table reconciles our direct interest in oil and gas reserves (in thousands):

 

Present value of estimated future net revenues (PV10)

   $ 150,616  

Future income taxes, discounted at 10%

     (29,997 )
        

Standardize measure of discounted future net cash flows

   $ 120,619  
        

The following table reconciles our indirect interest, through our affiliated partnerships, in oil and gas reserves (in thousands):

  

Present Value of estimated future net revenues (PV10)

   $ 30,272  

Future income taxes, discounted at 10%

     (12,401 )
        

Standardize measure of discounted future net cash flows

   $ 17,871  
        

Uncertainties are inherent in estimating quantities of proved reserves, including many risk factors beyond our control. Reserve engineering is a subjective process of estimating subsurface accumulations of oil and natural gas that cannot be measured in an exact manner, and the accuracy of any reserve estimate is a function of the quality of available data and the interpretation thereof. As a result, estimates by different engineers often vary, sometimes significantly. In addition, physical factors such as the results of drilling, testing and production subsequent to the date of the estimates, as well as economic factors such as change in product prices, may require revision of such estimates. Accordingly, oil and natural gas quantities ultimately recovered will vary from reserve estimates.

 

20


Table of Contents
Index to Financial Statements

Non-GAAP Reconcilation

The following table reconciles our direct interest in oil and gas reserves (in thousands):

 

Present value of estimated future net revenues (PV10)

   $ 150,616  

Future income taxes, discounted at 10%

     (29,997 )
        

Standardize measure of discounted future net cash flows

   $ 120,619  
        

The following table reconciles our indirect interest, through our affiliated partnerships, in oil and gas reserves (in thousands):

  

Present Value of estimated future net revenues (PV10)

   $ 30,272  

Future income taxes, discounted at 10%

     (12,401 )
        

Standardize measure of discounted future net cash flows

   $ 17,871  
        

Uncertainties are inherent in estimating quantities of proved reserves, including many risk factors beyond our control. Reserve engineering is a subjective process of estimating subsurface accumulations of oil and natural gas that cannot be measured in an exact manner, and the accuracy of any reserve estimate is a function of the quality of available data and the interpretation thereof. As a result, estimates by different engineers often vary, sometimes significantly. In addition, physical factors such as the results of drilling, testing and production subsequent to the date of the estimates, as well as economic factors such as change in product prices, may require revision of such estimates. Accordingly, oil and natural gas quantities ultimately recovered will vary from reserve estimates.

 

20


Table of Contents
Index to Financial Statements

Non-GAAP Reconcilation

ALIGN="justify">The following table reconciles our direct interest in oil and gas reserves (in thousands):

 














































































Present value of estimated future net revenues (PV10)

  $150,616 

Future income taxes, discounted at 10%

   (29,997)
     

Standardize measure of discounted future net cash flows

  $120,619 
     

The following table reconciles our indirect interest, through our affiliated partnerships, in oil and gas reserves (in thousands):

  

Present Value of estimated future net revenues (PV10)

  $30,272 

Future income taxes, discounted at 10%

   (12,401)
     

Standardize measure of discounted future net cash flows

  $17,871 
     

Uncertainties are inherent in estimating quantities of proved reserves, including
many risk factors beyond our control. Reserve engineering is a subjective process of estimating subsurface accumulations of oil and natural gas that cannot be measured in an exact manner, and the accuracy of any reserve estimate is a function of the
quality of available data and the interpretation thereof. As a result, estimates by different engineers often vary, sometimes significantly. In addition, physical factors such as the results of drilling, testing and production subsequent to the date
of the estimates, as well as economic factors such as change in product prices, may require revision of such estimates. Accordingly, oil and natural gas quantities ultimately recovered will vary from reserve estimates.

STYLE="margin-top:0px;margin-bottom:0px"> 


20







Table of Contents


Index to Financial Statements


EXCERPTS ON THIS PAGE:

10-K (4 sections)
Mar 25, 2009
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki