Apropos my last post this thread (complete with obligatory spelling mistake courtesy of auto correct); have canvassed Reservoir Engineer for his view on why BPT carries PEL 218 gas as Resource rather than Reserve.
His view is there are a number of interrelated factors:
1. Absence of GSA.
2. Not currently commerciall.
3. Not technically proven.
4. Other.
Classification is a matter of opinion so, to some extent, the RE is speculating as to why BPT's REs have formed the view they have.
For mine, I think there is some work to be done before BPT is in a position to sell gas and buyers have the confidence to purchase. The field needs to be technically proven to a satisfactory level of confidence. Then a view needs to be formed it is commercial and GSA signed.
These are not small commitments and board of both BPT and gas buyer will want a lot of reassurance.
Apropos my last post this thread (complete with obligatory...
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