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onthepunt

5,159 Posts.

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15/08/22

07:36

Post #: 63109045
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Originally posted by timmasbd ↑

I believe you're referring to Scott's discussion on calculations for COS. He said that ERCE used 7 different parameters to figure out the COS, whereas internally IVZ only used 4. Each of the "parameters" was essentially a percentage converted to a value between 0.0 and 1.0 (usually less then 1.0). To calculate the COS they multiply all the parameters together, and because each parameter is a number below 1, the more parameters you multiply together the smaller the final value becomes, hence a lower COS. I can't remember the exact details but be believed some of the parameters ERCE were using effectively duplicated one another and hence lowered the final COS value artificially.

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This difference was touched on in the resource upgrade announcement 5 July:

“ERCE’s risking methodology does not take into account seismic amplitude response or Direct Hydrocarbon Indicators (DHI) responses to increase the chance of success (CoS). Invictus has provided its internal estimates of CoS for each respective horizon which account for any amplitude / DHI response for each individual horizon.”

IVZ Price at posting: 25.5¢ Sentiment: Hold Disclosure: Held
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