Kuwait Energy
EL-12-211107
101
TABLE 7.6
SENSITIVITY TO DISCOUNT RATE OF POST-TAX NPV (US$ MM) OF
FUTURE REVENUE FROM RESERVES, NET TO KE, AS AT 31
st
MAY, 2014
Field
Proved
Proved plus Probable
Proved plus Probable plus
Possible
7.5%
10.0%
12.5%
7.5%
10.0%
12.5%
7.5%
10.0%
12.5%
Block 5
84.8
82.6
80.5
107.0
104.1
101.3
127.2
123.6
120.1
Block 43
1.0
1.0
1.0
1.3
1.3
1.3
1.8
1.8
1.8
Burg El Arab
26.2
25.5
24.9
95.1
87.2
80.4
143.0
128.3
116.0
Abu Sennan
3.4
3.3
3.3
43.4
40.8
38.4
117.1
108.7
101.2
ERQ
129.5
126.8
124.2
194.5
188.7
183.3
290.7
277.7
265.9
Area A
46.3
45.1
43.9
116.5
107.0
98.9
246.6
220.4
198.5
Siba
88.0
74.2
61.9
135.6
115.1
97.9
149.3
127.2
108.7
Mansuriya
46.2
16.2
-9.5
90.6
54.1
23.5
100.7
62.6
30.8
Total
425.4
374.7
330.2
784.0
698.4
625.0 1,176.4 1,050.3
943.1
Notes:
1.
The “Net Present Values” are calculated from discounted cash flows incorporating the fiscal terms
governing the fields.
2.
All cash flows are discounted on a mid-year basis to 31
st
May, 2014.
3.
The NPVs shown here are for the Developed plus Undeveloped Reserves.
4.
The reference NPVs reported here do not represent an opinion as to the market value of a property
nor any interest therein.
TABLE 7.7
SENSITIVITY TO DISCOUNT RATE OF POST-TAX NPV (US$ MM) OF
FUTURE REVENUE FROM PRODUCTION, NET TO KE, AS AT 31
st
MAY, 2014
Field
Low Case
Best Case
High Case
7.5%
10.0%
12.5%
7.5%
10.0%
12.5%
7.5%
10.0%
12.5%
KSF
4.0
3.9
3.8
4.4
4.3
4.2
4.7
4.6
4.4
Notes:
1.
The “Net Present Values” are calculated from discounted cash flows incorporating the fiscal terms
governing the asset.
2.
All cash flows are discounted on a mid-year basis to 31
st
May, 2014.
3.
The NPVs shown here are for the Developed plus Undeveloped cases.
4.
KSF is shown separately from KE’s other assets since, under the terms of the Service Agreement for
KSF, no Reserves are attributable to Medco LLC in KSF, and thus none are attributable to KE.
5.
The reference NPVs reported here do not represent an opinion as to the market value of a property
or any interest therein.
