Target Energy Limited announced that June 30, 2015 proven oil reserves have been assessed at 0.27 million barrels of oil equivalent (MMBOe), with total Proved, Possible and Probable Reserves assessed at 0.51 MMBOe, according to recent independent Reserves Estimates. The Reserves Estimates, effective 30 June 2015, encompass the Company's interests in its Texas and Louisiana oil and gas producing properties. The Reserves Reports were commissioned by Target and conducted by Texasbased independent consultants T.J. Smith & Company Inc. and Harper & Associates Inc. in accordance with the definitions and guidelines set out in the 2007 Petroleum Resources Management System approved by the Society of Petroleum Engineers.
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