Zhao Dong Block Bohai Bay, China 97-202-102 Gentlemen: At your request, we have made an estimate of the reserves and future net revenue as of January 1, 1997, for certain interests owned by XCL Ltd. (XCL) through a production sharing agreement with...Estimate of Reserves and Future Net Revenue • April 15th, 1997 • XCL LTD • Crude petroleum & natural gas
