crucial fact, page-63

Everest, please feel free to enlighten us what proved reserves are.

First of all you raised a question about 2P reserves (i.e. probable reserves), now you switch it to 1P reserves (i.e. proved reserves). Discussion with you is a little like watching sands in the sahara - continuously shifting.

You discredit the company's reserves statement, and assume it will be downgraded. On what basis - have you seen the reserves report in detail? Do you know what results it is based on? How are you able to conclude from the publicly available data that the reserves will be downgraded?

Perhaps simply because it suits your (short) case?

Unlike your good self I havent drawn a conclusion about the reserves, because the data isnt there to allow me to do so. So I have to rely more on production and other company-related information (such as GS deal, financials, etc) to value the company.

Unless you have data I dont have, or can interpret the available data better than I can (thats possible I suppose) then you are simply not able to make a definitive statement that reserves will be downgraded, and doing so is therefore pure speculation - unlike your inaccurate accusal of me doing that you have not made a conditional statement, you have made a definitive statement.

But again, I suppose that suits your (short) position, and no need to back it up with evidence.

Cheers, Sharks.