Common use of Reserve Estimates Clause in Contracts

Reserve Estimates. The oil and gas reserve estimates of the Company contained in the Time of Sale Document and set forth in the Final Offering Circular, as then amended or supplemented by the Company, if applicable, (i) are derived from reports that have been prepared by the petroleum consulting firms as set forth therein, (ii) to the best of the Company’s knowledge, such reserve estimates fairly reflect, in all material respects, the oil and gas reserves of the Company at the dates indicated therein and (iii) are in accordance with the guidelines applicable thereto.

Reserve Estimates. The oil and gas reserve estimates of the Company contained in the Time of Sale Document and set forth in the Final Offering Circular, as then amended or supplemented by the Company, if applicable, Circular (i) are derived from certain reports that have been prepared by Collarini Associates, summaries of which are attached to the petroleum consulting firms as set forth thereinTime of Sale Document and the Final Offering Circular, (ii) to the best of the Company’s knowledge, such reserve estimates fairly reflect, in all material respects, reflect the oil and gas reserves of the Company at the dates indicated therein and (iii) are have been prepared in accordance with the guidelines applicable theretodescribed therein.

Reserve Estimates. The oil and gas reserve estimates of the Company contained in the Time of Sale Document and set forth in the Final Offering CircularMemorandum, as then amended or supplemented by the Company, if applicable, (i) are derived from reports that have been prepared by the petroleum consulting firms as set forth therein, (ii) to the best of the Company’s knowledge, such reserve estimates fairly reflect, in all material respects, the oil and gas reserves of the Company at the dates indicated therein and (iii) are in accordance with the guidelines applicable thereto.