QBL AGM Summary, page-172

well i'm pretty sure i know what a reserve is , / resource is. But sometimes see the language mixed up by others.

So i go with my understanding, therefore happy to be corrected.

IMO Resource is whatever you have, and its in varying degree of confidence.
Reserve is what is economically ex-tractable today.
And i wonder also, if it may have boarders on say EPA areas. this is approved today, this is not?
So next year, you may have more reserves, as the EPA boundary is reviewed.

In essence, reserve is how much you have found today, that meets your economic criteria.
So correct me there if i'm wrong.

I often see gas companies increase their reserves, when the price of gas rises etc. as more is economically ex-tractable.

Onto indicated resource, i would think if they had 200 meter spacing would be about right.
So they will have been busy. and as HC pointed out almost a third of their resource came from Area I.
whats that then, about 9mt inferred? So can 1/3 of the area prove up similar to what the initial sampling found? would get 3mt. Assuming it all comes from the current boundary, and just area I. Have they drilled out side the boundary? why not. There's no rules say that they cant have.

And depth is a consideration as well.

We have to wait and see.