Kit, 1956 is not being condescending. He is just letting folk...

Kit, 1956 is not being condescending.

He is just letting folk know that the SPE rules are written by technical folks, employed by the majors...so you could infer they write the rules to suit themselves. And majors are not too worried about computing resources because they always have more than enough data on their fields to get a good handle on these numbers. What the majors do want however is for all the conservatism to be heaped on any uncertainty in fledgeling discoveries so they can swoop in and pinch them at a fraction of the real value.

Im guessing there was a lot of toing and fro'ing here, as this does not fit the "layer cake" models which most resource assessors like.

Key take homes for me are: first export tanker load of oil from Unit 1B by Dec 2024.