20 September 2017
ASX Code: TEX
OTCQX Code: TEXQY
Target Activity Limited’s (“Target”) 30 June 2017 allotment of accurate oil affluence at Fairway accept been adjourned at 3.19 actor barrels of oil agnate (MMBOe), according to a contempo absolute Affluence Estimate.
The Fairway Affluence Address was commissioned by Target Activity Limited and conducted by Midland, Texas‐based absolute adviser Robert S. Lee of Lee Engineering (“Lee”), in accordance with the definitions and guidelines set out in the 2007 Petroleum Resources Management System accustomed by the Society of Petroleum Engineers. A arbitrary of the after-effects and added capacity are included in the Appendix.
Commenting on the results, Target Energy’s Managing Director Laurence Roe said: “The Company is admiring to agenda an 11% access in accurate affluence in allegory to our 2016 assay forth with an added 1.288 MMBOe in Probable Reserves. The access in affluence reflects a stabilisation in absolute assembly forth with advances in accumbent drilling.”
For and on account of TARGET ENERGY LIMITED
Laurence Roe Managing Director
Board of Directors
Chris Rowe, Chairman
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