Common use of Initial Reserve Report Clause in Contracts

Initial Reserve Report. The Company has heretofore delivered to the Lenders a true and complete copy of a report, dated effective as of December 21, 2005, prepared by Netherland, Xxxxxx and Associates, Inc. (the “Initial Reserve Report”) relating to an evaluation of the Oil and Gas attribut­able to certain of the Mortgaged Properties described therein. To the knowledge of the Company, (a) the assumptions stated or used in the preparation of the Initial Reserve Report are reasonable, (b) all information furnished by the Company to Netherland, Xxxxxx and Associates, Inc. (the “Independent Engineer”) for use in the preparation of the Initial Reserve Report was accurate in all material respects, (c) there has been no material adverse change in the amount of the estimated Oil and Gas shown in the Initial Reserve Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (d) the Initial Reserve Report does not omit any material statement or information necessary to cause the same not to be misleading to the Lenders.

Initial Reserve Report. The Company has heretofore delivered to the Lenders a true and complete copy of a report, dated effective as of December 21, 2005, prepared by Netherland, Xxxxxx and Associates, Inc. (the “"Initial Reserve Report”") relating to an evaluation of the Oil and Gas attribut­able attributable to certain of the Mortgaged Properties described therein. To the knowledge of the Company, (a) the assumptions stated or used in the preparation of the Initial Reserve Report are reasonable, (b) all information furnished by the Company to Netherland, Xxxxxx and Associates, Inc. (the “"Independent Engineer”") for use in the preparation of the Initial Reserve Report was accurate in all material respects, (c) there has been no material adverse change in the amount of the estimated Oil and Gas shown in the Initial Reserve Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (d) the Initial Reserve Report does not omit any material statement or information necessary to cause the same not to be misleading to the Lenders.

Initial Reserve Report. The Company has heretofore delivered to the Lenders a true and complete copy of (x) a report, dated effective as of December 2131, 20052009, prepared by Netherland, Xxxxxx and Associates, Inc. (the “Initial Reserve Report”) relating to an evaluation of the Oil and Gas attribut­able attributable to certain of the Mortgaged Oil and Gas Properties described therein. To the knowledge of the Company, (a) the assumptions stated or used in the preparation of the Initial Reserve Report are reasonable, (b) all information furnished by the Company to Netherland, Xxxxxx and Associates, Inc. (the “Independent Engineer”) for use in the preparation of the Initial Reserve Report Report, was accurate in all material respects, (c) there has been no material adverse change in the amount of the estimated Oil and Gas shown in the Initial Reserve Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (d) the Initial Reserve Report does not omit any material statement or information necessary to cause the same not to be misleading to the Lenders.

Initial Reserve Report. The Company has heretofore delivered to the Lenders a true and complete copy of (x) a report, dated effective as of December 2131, 20052006, prepared by Netherland, Xxxxxx and Associates, Inc. (collectively, the “Initial Reserve ReportReports”) relating to an evaluation of the Oil and Gas attribut­able attributable to certain of the Mortgaged Properties described therein. To the knowledge of the Company, (a) the assumptions stated or used in the preparation of the Initial Reserve Report are reasonable, (b) all information furnished by the Company to Netherland, Xxxxxx and Associates, Inc. (the “Independent Engineer”) for use in the preparation of the Initial Reserve Report Report, was accurate in all material respects, (c) there has been no material adverse change in the amount of the estimated Oil and Gas shown in the Initial Reserve Report since the date thereof, except for changes which have occurred as a result of production in the ordinary course of business, and (d) the Initial Reserve Report does do not omit any material statement or information necessary to cause the same not to be misleading to the Lenders.