From the 10K , year end, ending March 31 2012.…
Standard Measure of Discounted Cash Flows: $23,183,000
Net oil & Gas property: 15,743,000
From the 10Q, Q3, quarter ending, December 31, 2012
Standard Measure of Discounted Cash Flows: ?
Net oil & Gas property: 24,012,000
Take the Q3 BOE divided by the year end BOE…1,895,000/1,335,000 and multiply that factor by the year end Standard Measure of 23,183,000 and you get a projected Q3 Standard Measure of 32,908,000.
Since the Standard Measure of Discounted Cash Flows is supposed to represent a more realistic value of the company’s property, it might be nice to project this change through three quarters. Of course that Standardized Measure hasn’t been disclosed since the last 10K…
Now project the change in the realistic value of the property…… $9,725,000 (32,908K- 23,183K). But balance sheet value (Net oil and gas properties) increased by only….. $8,269,000 ($24,012K - $15,743K.)
That’s a difference of $1,483,000, a net worth increase that hasn’t been reflected in the financial statements during the first nine months of this fiscal year.