Caution Urged Regarding BC's Resource Potential

    CALGARY, Sept. 24 /CNW/ - Recent excitement about resource potential
numbers in British Columbia must be tempered by an assessment of the
technically recoverable resource potential and actual marketable resource
potential said Robin Mann, CEO of AJM Petroleum Consultants, at a talk on
Resource, Reserve and Deliverability Trends and Challenges in the Western
Canadian Sedimentary Basin (WCSB) at today's Insight Information's 2008
Pacific Canada Gas Forum in Vancouver.
    "If you add up all the numbers, the natural gas resource potential of hot
prospects like the Montney play and the Horn River play in British Columbia
currently ranges from 600 to 2000 trillion cubic feet (Tcf)," said Mr. Mann.
"But, rather than just looking at the estimated resource potential, investors
need to focus on the marketable reserve potential of these plays, which while
still impressive, isn't as large as the estimated resource potential."
    Independent analysis lead by Mr. Mann at AJM Petroleum Consultants
suggests that while the estimated resource potential of the Montney play
ranges between 50 and 415 Tcf, the marketable resource potential is more
likely to be in the 7 to 63 Tcf range. Similarly in Horn River, while the
estimated resource potential reaches 308 Tcf, the total marketable resource is
probably in the 21 to 110 Tcf range.
    "There is no denying that the resource potential of British Columbia is
very large," said Mr. Mann. "However, the nature of the resource and its
location means only a small percentage of it will be converted into reserves
in the short term." To access Robin Mann's presentation, visit

    AJM Petroleum Consultants is a private Canadian company that provides a
full spectrum of evaluation services to both the domestic and international
oil and gas industry, as well as consulting to regulatory bodies, financial
houses, and investment analysts. With more than 70 professional and technical
members of staff, AJM offers expertise in all areas of oil and gas, including
in the unconventional reserves and resources of coalbed methane, tight gas,
shale gas, bitumen and heavy oil.

For further information:

For further information: For media information, or to book interviews:
Andrea Conway, AJM Petroleum Consultants, Office: (403) 648-3269, Mobile:
(403) 561-8620

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