Thursday, December 23, 2010

Note on Lynden's Wolfberry Project Reserves

Further review of Lynden Energy Corp.'s Project Reserves report released on October 28, 2010 shows that their Proved plus Probable reserves as of June 30, 2010 was estimated to be $64.0M based upon 2011 oil pricing of $79.54/barrel. That reserve estimate would greatly improve if it were based upon today's oil pricing of over $90/barrel. With Lynden's increased activity in the Wolfberry, that project alone should justify at least $1.00/share.

Lynden has very little downside risk based upon their Wolfberry holdings and any success with their Mitchell Ranch project will significantly increase their value.

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