Ann: Beach Energy Ltd FY24 Results Presentation, page-15

I will have a go at translating- explaining.

Say, you have a warehouse full of widgets. Imagine a nice rectangular shape with a nice flat concrete floor and a nice flat ceiling. Imagine that your widgets are laid out nicely on shelves and that a computer keeps track of how many widgets you have. And getting the widgets out of the warehouse is easy because you have a nice defined regular shaped door for trucks and forklifts to get the widgets out.

Then think of an oil reservoir. You use science and judgement to work out the size of it and how much you might be able to get out of it and how. Then over time you get less oil and more water as you pump. So you release a statement of your reserves etc that is your best guess. You never quite get it right. Sometimes your guess is way out.

Well, when BPT makes a guess it sometimes turns out to be way, way out.

I just put in an order- call it muscle memory.

IMHO DYOR