GREY:ROAOF - Post by User
Post by
Bigbadoilon Feb 18, 2005 11:32am
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Post# 8616033
proven/probable musings....
proven/probable musings....Maybe the proven will be lower than expected but to compensate the probable will be higher.
Didnt one of the last wells in the last program hit 50'+ pay with no water leg??? This well was postioned the most SW of the wells. Please correct me if i am wrong. Therefore the pool has definite extension possibilities? If so I can see the Engineers only giving so much proven and compensate with more probable in that situ. Anyway another successful step-out well in that direction from the upcoming program would move a significant amount from the probable to proven category.
In summary the combined proven and probable number would be more interesting. Proven is defined as 90% confidence of being there whereas probable is at the 50% confidence level.
The market is a tenuous thing so they may just look at the proven numbers. A number below the expectations would knock the stock a bit.
Bigbadun'