TSXV:ART.H - Post by User
Comment by
justin_a_lyesseon Jan 18, 2010 11:22pm
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Post# 16693221
RE: RE: RE: what is vst UNDISCOVERED OIL?
RE: RE: RE: what is vst UNDISCOVERED OIL?From the NR:
Prospectiveresources are those resources of petroleum estimated, as of a givendate, to be potentially recoverable from undiscovered accumulations byapplication of future development projects. Prospective resources haveboth an associated chance of discovery and a chance of development. Thechance of commerciality is the product of these two risk components.There is no certainty that any portion of the prospective resourceswill be discovered. If a discovery is made, there is no certainty thatit will be developed or, if it is developed, there is no certainty asto the timing of such development or that it will be commerciallyviable to produce any portion of the prospective resources.
Prospective oil resources are undiscovered resources that indicateexploration opportunities and development potential in the event acommercial discovery is made and should not be construed as reserves orcontingent resources.