Longview Oil Corp. (TSX: LNV) has P+P Reserves of 37.9 mmboe with a P+P Reserve Life Index of 15.1 years based on Q4 2011 production of 6,823 boe/d. The reserves are weighted 79% to crude oil and NGLs supporting high netbacks that will provide Longview with cash flow to support future capital development plans and dividends in a range of commodity prices. Monthly dividends will be paid by Longview initially at a rate of $0.05 per month.
The Corporation plans to increase production by conducting low risk drilling, recompletion and enhanced recovery operations on its assets. Management of Longview has identified a mulit-year development inventory with approximately 244 net drilling and recompletion locations, allowing for potential production additions of ~17,800 boe/d at an anticipated cost of ~$15,600 per boe/d (based on total initial production rates).