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Post# of 94785
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Cristo999

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Cristo999

Re: throwerw post# 70510

Friday, 01/28/2011 3:31:43 PM

Friday, January 28, 2011 3:31:43 PM

Post# of 94785
NEP. It's hard to know how they are using recoverable reserves. Usually reserves are noted by indicating what probability (P) is associated with the refers. Proven reserves (the 1.54 million in the PR) usually means P95 reserves. This is often how fields are valued in acquisitions. The remaining 18 million barrels presumably is probable (P50) or unproven reserves which brings in a host of assumptions including the price of oil and infrastructure needs.
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