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$50-60 New Normal or U.S Shale Bubble?, page-601

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    Croas,

    one thing that is worthwhile checking:

    "1P" in Oz - has a different definition to that used ("proved reserves") in the USA .......

    Proved = proved developed + proved undeveloped (with whatever the certifier allows for "well spacing")

    1P (90% confidence interval) = developed + undeveloped - see the "guidelines" for reporting of reserves in Oz....

    re gas from USA - the GLNG joint venture has an offtaker (total) who decides the "annual contract quantity"....... worth remembering that imho....

    rgds
    V_H
 
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