GREY:ROAOF - Post by User
Comment by
barsaxon Mar 09, 2006 1:23am
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Post# 10487330
RE: FWIW From another board...good 40
RE: FWIW From another board...good 40good40 wrote: "Proved reserves have a 90% chance of being recovered"
Wrong.
Proved reserves have a 90% probability of being greater than the amount stated. Probable reserves have a 50% probability of being greater than the number stated. good40's statement is mis-leading as per usual. His statement discounts the fact that there is a very good chance (90%) that the actual proved reserves in place are greater than the number stated, versus the notion that one has a 90% chance of recovering up to the proved number, but not beyond. He always leaves out the upside. Why? It's in his interest to do so.
cheers
barsax