rae
Quite simply the estimates of field volume that we had were made immediately after the discoovery on the basis of the logging results at TD and the pre-drill seismic interpretation. Since then all the FAN-1 and SNE-1 data has been analysed and the 3D seismic has been re-processed and reinterpreted based on what was actually found rather than what was "expected".
Also, the companies and the geologists would have been conservative in the estimates given at the time of discovery so as not to mislead the market to the upside. Since SNE was discovered we have been told consistently and repeatedly that the risk was to the upside. RISC's estimate do not include ANY appraisal data and they will be reassessing their estimates on the basis of each appraisal well.
H
Drilling programme potential, page-113
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