bayfisherii: I understand what you mean, but I am talking about for accounting purposes if the SEC adopts the new proposal that was posted earlier. One well in combination with 3D Seismic studies should be enough to book probable (P50) and possible (P10) reserves. Would you agree?
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.
Bayfisher - When drilling a deep offshore well how long does it take to get to the actual point of drilling a well (mud Line) if you are in about 2000 Meters of water? Just a rough estimate will do.
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