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February 4, 2013
07:40 EDTDNRDenbury Resources reports proved reserves at Dec. 31, 2012 was $9.9B
The estimated discounted net present value of Denbury's proved reserves at December 31, 2012, before projected income taxes, using a 10% per annum discount rate, or PV-10 Value, a non-GAAP measure, was $9.9B, using first-day-of-the-month 12-month average 2012 prices of $94.71 per barrel, or Bbl, for oil and $2.85 per million British thermal unit, or MMBtu, for natural gas. This represents a $700M decline from the prior year level as the strategic sale of properties with a PV-10 Value of $1.9B at year-end 2011, using first-day-of-the-month 12-month average 2011 prices of $96.19 per Bbl for oil and $4.16 per MMBtu for natural gas, and the impact of lower oil and natural gas prices more than offset increases from additional tertiary reserves and acquired properties. The year-end 2012 PV-10 Value of proved reserves attributable to Denbury's tertiary oil activities was $6.8B, a $1.1B, or 19%, increase from the prior year level. Also, year-end 2012 PV-10 Values do not include any PV-10 Value of the pending CCA Acquisition, which is currently estimated at $1.1B using the same commodity price assumptions as those in Denbury's year-end 2012 report. On a pro forma basis, it is currently estimated that the CCA Acquisition would increase the Company's PV-10 Value to approximately $11B.
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February 26, 2015
08:10 EDTDNREvolution Petroleum and Denbury Resources sign reversal of suspended revenue
Evolution Petroleum (EPM) and Denbury (DNR) executed an agreement under which Denbury will reverse the previously disclosed suspension of 2.89% of Evolution's overriding royalty interest revenues and will release to Evolution amounts previously suspended totaling approximately $712K Denbury further agreed not to suspend any future revenues attributable to any of Evolution's revenue interests, except under limited circumstances, and will limit any cash calls to amounts needed to fund near term capital expenditures. This agreement does not settle any of the outstanding litigation matters with Denbury, including their counterclaim related to the net revenue interest conveyed in the 2006 Purchase and Sale Agreement. The litigation is continuing and currently scheduled for trial in July 2015.

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