OTCPK:WSRLF - Post by User
Comment by
Baxter4on Dec 16, 2010 6:23pm
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Post# 17858958
RE: IN PLAIN ENGLISH
RE: IN PLAIN ENGLISHThe NR actually defined contigent:
(2) Contingent Resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingent resources have an associated chance of development (economic, regulatory, market and facility, corporate commitment or political risks). These estimates have not been risked for the chance of development. There is no certainty that the contingent resources will be developed and, if they are developed, there is no certainty as to the timing of such development or that it will be commercially viable to produce any portion of the contingent resources.