Jesse/Sybil,you posted this article numerous times back when you wre bashing.If you are now long,i really dont understand what the point is of posting this again.
I believe tradeit6 answered your question a couple of weeks ago.I took the liberty of copy and pasting his response.Would anyone else like to chime in on this?
Jessie your assuming that the total 11,000,000 barrels are not the recoverable, and are probable, or possible reserves. Oil reserves are listed in categories, your threory is a one size fits all and that is not the way it works imo.
The Russians even put " C"ratings on their oil reserves. C1 being proven, then to C2 Probable, then the C3 being possible.
The SEC in here in CONUS says proven reserves listed on filings are "only"pumpable and pumping not probable or possible which is what your are referring to imo.
Hence the 11 MB projected is "not" the total", as your article outlines", it is the estimated proven and pumpable. When depletion is accounted for it is based on the proven as far as I know not based on what is not pumpable.
I think if you do some further research you will conclude the same think. Ref NDOL and the Russian system of Reserves and then what they can file with which is only a portion of the total.
