Bengal Energy Reports Decline in Oil Reserves

Bengal Energy (TSE:BNG) has released an update.

Bengal Energy Ltd. has disclosed a significant decrease in its proven plus probable oil reserves, dropping from 5,477 thousand barrels in the previous year to 1,857 thousand barrels as of March 31, 2024. The net present value of these reserves is estimated at $42 million, marking a notable shift primarily due to a reduction in future drilling locations and reclassification of reserves. Investors are cautioned that these figures are based on forecasts which may vary, and actual reserves could differ from the estimates.

For further insights into TSE:BNG stock, check out TipRanks’ Stock Analysis page.