Agreed. Does anyone know what the criteria are for proved, probable, and P(80) are? I note that in the Emerging Leaders presentation Simon made a point of supplying the independent geologists figure of 180mbbl for P(80). I assume this figure is a combination of gross/nett estimates, flow rates and cost effectiveness of recovery, the latter implying that "if its profitable to do the work to extract more of what's there then the reserve estimate goes up". I reckon if POO stays over US$55 then the reserves will be increased at some point because I think the 2P reserves are based on what's economic to extract at closer to US$25-US$35. Am I off the beam here??
H
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