I think the important thing here is to compare like with...

I think the important thing here is to compare like with like.


Previously the X, Y zones were regarded as "Justified for Development" they are now regarded as "Contingent", a backward step, but should be corrected when (if) Cambay 76H flows.

All figures net to OEX but subject to government take (up to 35%) of profit oil.

Designation...(P90 , Low)....(P50 , Best)...(P10 , High)
.............MMbbls..BCF.....MMbbls..BCF...MMbbls..BCF
.
Old.............11...248.........17....384.......27....591
.
New.............14....81.........37....227.......81....483
.
.+/( - ).........3..(167)........20...(157)......54...(108)

Just looking at P50 or best we have gained 20MMbbls but lost 157BCF, putting that is money terms 20MMbbls @$80bbl = $1.6Bln
-157BCF @ $6mcf = -$0.9Bln. So an overall gain of $0.7Bln on P50 numbers.

P10 or High, You can work it out, but it's a big positive number!

Zone Z was "Contingent - Development Pending" now " Prospective Resources" another backward step. Before they knew they were there, but not sure of the economics. Now, they are not certain they are even there.


Designation...(P90 , Low)....(P50 , Best)...(P10 , High)
..............MMbbls..BCF....MMbbls..BCF....MMbbls..BCF
.
Old..............8...186........14.....324.......26.....568
.
New..............5....38........20.....132.......77.....493
.
.+/( - )........(3).(148)........6....(192)......51.....(75)


Again a shift from gas to oil. P50 in money terms

6MMbbls @ $80bbl = $0.48bln
-192BCF @ $6mcf = -$1.15Bln

Not so good,but again P10 is a really big positive number.

Then we have the 3 new zones. Perhaps they were included in the old zone Z numbers, but that was not stated.

Designation...(P90 , Low)....(P50 , Best)...(P10 , High)
..............MMbbls..BCF....MMbbls..BCF....MMbbls BCF
.
New..............11...78.......43.....288........172....1,191

At the P50 and P10 level these are double the old reserves on their own, but as prospective resources we can not be sure they even exist.

Overall a good update, but I would have liked to see comparative numbers in the report plus an explanation of the change in terminology used to describe the reserves otherwise I get a slight impression of "smoke and mirrors" and we can do without that. Just my view

Let's hope we get the workover rig on site soon and get the junk out and see this flow.