Precisely, that is the crux of the business plan.
Unproven resources need to be drilled to become proven reserves. The well will prove up producing reserves, PDP which will be drained by that particular well bore, and proven Undeveloped Reserves (PUD) which will require further wells to drain and become PDP reserves.
Un proven resources are worth significantly less then PUD which are worth less than PDP. But typically a well will prove up less PDP and PUD reserves and this is what BRK are all about, and why they continuously bang on about not drilling for production, but to prove PUD reserves which can then be monetised.
The plan for SWISH in 2018-2019
Cheers
Dan
Ann: Quarterly Activities Report and Appendix 5B - September 2021, page-40
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