"It is not necessary that production, gathering, or transportation facilities be installed or operative for a reservoir to be considered proved. It is to be assumed that compression will be initiated if and when economically justified".
That is 2 sentences you can't make any conclusions on that with out knowingthe full context. MAE has drilled 8 wells at CC and reakons there is scope for 100's that is what is essentially meant by the above statement. They Drilled maybe 5% of the total reservoir and establish reserves from flow rates and defining of the reservior boundaries. Likewise in places where there is well established production adjacent fields and new resorces can largely be defined by previous proven production from similial formations.
To be 1P its just got to be proven 90% chance of economic recovery as long as you can back that up and someone with money comes to the same conclusion we will have a sale.
MAE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
