Amadeusz Juskowiak

Houston oil ho reserves study completed

Houston Oil Trust said that independent petroleum engineers completed an annual study that estimates the trusts future net revenues from total proved reserves at 88 mln dlrs and its discounted present value of the reserves at 64 mln dlrs

Based on the estimate the trust said there may be no money available for cash distributions to unitholders for the remainder of the year

It said the estimates reflect a decrease of about 44 pct in net reserve revenues and 39 pct in discounted present value compared with the study made in 1985

Reuter