hit or miss, page-2

D&L#3 classified as PUD

Proven reserves

Proven reserves are those reserves claimed to have a reasonable certainty (normally at least 90% confidence) of being recoverable under existing economic and political conditions, with existing technology. Industry specialists refer to this as P90 (i.e., having a 90% certainty of being produced). Proven reserves are also known in the industry as 1P.[7][8]

Proven reserves are further subdivided into "proven developed" (PD) and "proven undeveloped" (PUD).[8][9] PD reserves are reserves that can be produced with existing wells and perforations, or from additional reservoirs where minimal additional investment (operating expense) is required.[9] PUD reserves require additional capital investment (e.g., drilling new wells) to bring the oil/Gas to the surface.[7][9]

Proved reserves are the only type the U.S. Securities and Exchange Commission allows oil companies to report to investors. Companies listed on U.S. stock exchanges must substantiate their claims, but many governments and national oil companies do not disclose verifying data to support their claims


So It's THERE to all intents and purposes - there doesn't seem to be much doubt about that - so -

Has the market already factored this into account and is an sp of 006/.007 considered fair in the present market ?

Roll on TUE
CH##RS