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Replies to post #19227 on Brookmount Exploration Inc (BMXI)
BigBadWolf
07/02/24 10:09 AM
#19229 RE: BigBadWolf #19227
what does this mean "Chief Geologist Errin Kimball to "prove-up" reserves and increase production." ChatGPT The phrase "Chief Geologist Errin Kimball to 'prove-up' reserves and increase production" likely means that Errin Kimball, who holds the position of Chief Geologist, has been tasked with two main objectives: Prove-up reserves: This refers to the process of confirming the presence and quantity of economically recoverable minerals or hydrocarbons (like oil and gas) in a given area. It involves conducting geological surveys, drilling exploratory wells, and analyzing data to provide a credible estimate of the reserves available for extraction. Increase production: Once reserves are proven (or confirmed), the goal is to optimize the extraction process to increase the output of the resource. This could involve implementing more efficient drilling techniques, improving infrastructure, or exploring new technologies to enhance production rates. In summary, Errin Kimball has been assigned the responsibility to both verify the existence and quantity of recoverable resources (proving-up reserves) and to enhance the rate at which these resources are extracted (increasing production).