Vital Resources announces reserve report on Indonesian acquisition

Calgary-based junior oil, gas exploration company Vital Resources Corp. on Friday announced reserve estimate for its acquisition target Ramok and Senabing oil and gas fields in Sumatra,

A Ni 51-101-compliant reserve report on Ramok and Senabing fields has been completed which gave the fields a Total Gross Lease Marketable Reserves of 2.1 million barrels; Proven and Probable is 520,000 barrels, Possible 1.57 million barrels. The report was prepared in accordance with the requirements of Canadian National Instrument 51-101 on firm Standards of Disclosure for Oil and Gas Activities (NI 51-101).

Ramok and Senabing fields continue to show strong production and presently producing over 100 bopd generating $390,000 USD in May, 2008, with a netback of approximately $200,000 USD.

Vital is continuing to work towards the potential closing of the acquisition of Ramok and Senabing fields, it said. (alex)