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midtieroil

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midtieroil

Re: bayfisherii post# 142017

Monday, 10/20/2008 2:21:38 PM

Monday, October 20, 2008 2:21:38 PM

Post# of 361652
Agreed that one well would make it difficult to book proved reserves but the question is what would it take to book probable and possible reserves. I think the definition and requirements for booking proved reserves while, still a little murky, are understood by most. What is less understood is what the requirements will be to book other types of reserves under the new SEC requirements and when that will be finalized. I guess they will probably follow the existing SPE guidelines, but who knows.
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