Common use of Initial Reserve Report Clause in Contracts

Initial Reserve Report. The Company has heretofore delivered to the Lenders a true and complete copy of (x) a report, dated effective as of December 31, 2006, prepared by Netherland, ▇▇▇▇▇▇ and Associates, Inc. (collectively, the “Initial Reserve Reports”) relating to an evaluation of the Oil and Gas attributable to certain of the Mortgaged Properties described therein. To the knowledge of the Company, (a) the assumptions stated or used in the preparation of the Initial Reserve Report are reasonable, (b) all information furnished by the Company to Netherland, ▇▇▇▇▇▇ and Associates, Inc. (the “Independent Engineer”) for use in the preparation of the Initial Reserve Report, was accurate in all material respects, (c) there has been no material adverse change in the amount of the estimated Oil and Gas shown in the Initial Reserve Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (d) the Initial Reserve Report do not omit any material statement or information necessary to cause the same not to be misleading to the Lenders.

Initial Reserve Report. The Company has heretofore delivered to the Lenders a true and complete copy of (x) a report, dated effective as of December 31, 20062005, prepared by Netherland, ▇S▇▇▇▇▇ and Associates, Inc. (collectively, the “Initial Reserve ReportsReport”) relating to an evaluation of the Oil and Gas attributable to certain of the Mortgaged Properties described therein. To the knowledge of the CompanyCompany and the Guarantors, (a) the assumptions stated or used in the preparation of the Initial Reserve Report are reasonable, (b) all information furnished by the Company or any Guarantor to Netherland, ▇S▇▇▇▇▇ and Associates, Inc. (the “Independent Engineer”) for use in the preparation of the Initial Reserve Report, Report was accurate in all material respects, (c) there has been no material adverse change in the amount of the estimated Oil and Gas shown in the Initial Reserve Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (d) the Initial Reserve Report do does not omit any material statement or information necessary to cause the same not to be misleading to the Lenders.

Initial Reserve Report. The Company has heretofore delivered to the Lenders a true and complete copy of (x) a report, dated effective as of December 3121, 20062005, prepared by Netherland, ▇▇▇▇▇▇ and Associates, Inc. (collectively, the “"Initial Reserve Reports”Report") relating to an evaluation of the Oil and Gas attributable to certain of the Mortgaged Properties described therein. To the knowledge of the Company, (a) the assumptions stated or used in the preparation of the Initial Reserve Report are reasonable, (b) all information furnished by the Company to Netherland, ▇▇▇▇▇▇ and Associates, Inc. (the “"Independent Engineer”") for use in the preparation of the Initial Reserve Report, Report was accurate in all material respects, (c) there has been no material adverse change in the amount of the estimated Oil and Gas shown in the Initial Reserve Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (d) the Initial Reserve Report do does not omit any material statement or information necessary to cause the same not to be misleading to the Lenders.

Initial Reserve Report. The Company has heretofore delivered to the Lenders a true and complete copy of (x) a report, dated effective as of December 3121, 20062005, prepared by Netherland, ▇▇▇▇▇▇ and Associates, Inc. (collectively, the “Initial Reserve ReportsReport”) relating to an evaluation of the Oil and Gas attributable attribut­able to certain of the Mortgaged Properties described therein. To the knowledge of the Company, (a) the assumptions stated or used in the preparation of the Initial Reserve Report are reasonable, (b) all information furnished by the Company to Netherland, ▇▇▇▇▇▇ and Associates, Inc. (the “Independent Engineer”) for use in the preparation of the Initial Reserve Report, Report was accurate in all material respects, (c) there has been no material adverse change in the amount of the estimated Oil and Gas shown in the Initial Reserve Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (d) the Initial Reserve Report do does not omit any material statement or information necessary to cause the same not to be misleading to the Lenders.

Initial Reserve Report. The Company has heretofore delivered to the Lenders a true and complete copy of (x) a report, dated effective as of December 31, 20062009, prepared by Netherland, ▇▇▇▇▇▇ and Associates, Inc. (collectively, the “Initial Reserve ReportsReport”) relating to an evaluation of the Oil and Gas attributable to certain of the Mortgaged Oil and Gas Properties described therein. To the knowledge of the Company, (a) the assumptions stated or used in the preparation of the Initial Reserve Report are reasonable, (b) all information furnished by the Company to Netherland, ▇▇▇▇▇▇ and Associates, Inc. (the “Independent Engineer”) for use in the preparation of the Initial Reserve Report, was accurate in all material respects, (c) there has been no material adverse change in the amount of the estimated Oil and Gas shown in the Initial Reserve Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (d) the Initial Reserve Report do does not omit any material statement or information necessary to cause the same not to be misleading to the Lenders.