The problem with making these assumptions using historic oil well data is you’re left with mostly an “inferred” category, which cannot be used in financial estimates. Companies need to drill to increase the accuracy to “indicated” at least.
Only about 20% of the total is generally indicated, with the remaining 80% inferred.
However at the end of the day, anything much over your desired yearly capacity multiplied by the mine life ~25 years is useless.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-24
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