Replies to post #33077 on Treaty Energy Corp. (fka TECO)

[againstallodds]

A Society of Petroleum Engineers review of reserves reporting (December 2005) states:
- The SEC rules for proven oil reserves were established in 1978.
- Additional disclosure of probable and possible reserves is prohibited by the SEC.
- The SEC requirement for proven reserves is that a well test is mandatory and can be only avoided in the Gulf of Mexico (GOM) deep water if the estimate is fully supported by seismic, wire line conveyed sampling, logs and cores.

Thanks Oilpatch, this was a great post