Replies to post #209937 on ERHC Energy Inc (ERHE)

[Krombacher]

Here you go, p stands for probability:

p10 = 10% probability of occurrence

p50 = 50% probability of occurrence

p90 = 90% probability of occurrence

Krombacher

[Krombacher]

p10, p50, p90 textbook definition for oil fields:



Krombacher

[bayfisherii]

P10 (also called P3)means that is the amount of oil that is generally assumed should in a reservoir but when you value it you only value 10% of that estimate. (ex: 100 Million barrels of oil at P10 is a 10 Million barrel field - RISKED)

While P50 (also called P2) means that you are reasonably confident through well test and exploration that there is the amount of oil in tthe reservoir thta you expect. This reservoir has generally not been produced but only had discovery wells and flow tests measurements. When you value this reservoir at P50 you use 50% of the estimate. (ex: 100 million barrels of oi;l at P50 is 50 million barrel - RISKED)

While P90 (also called P1) means that you are 90% certain. And generally the P90 designation is only given to reservoirs that have had multiple production wells drilled and produced and multiple production tests that given the reservoir engineers a high expectation that the reservoir contains what they believe it does. (ex: 100 Million barrels of oil at P90 is a 90 Million barrel field - Risked)