RE: RE: 260% Increase in Resources ?????Goofy
Funny you had a link in your post that actually showed you were misleading in your post. Below is the actual definition from the Alberta Securities Commission. It does not say Contingent Resources are non commercial. It says the chance of commerciality is equal to the chance of development. In other words, develop the infrastructure and the well becomes commercial. That is Longfords plan if you check their presentations.
As I said before, knowing full well you have read it, you're an idiot.
Contingent Resources: Not all technically feasible development plans willbe commercial. The commercial viability of a development project is
dependent on the forecast of fiscal conditions over the life of the project. For
contingent resources the risk component relating to the likelihood that an
accumulation will be commercially developed is referred to as the “chance of
development.” For contingent resources the chance of commerciality is equal
to the chance of development.
· Prospective Resources: Not all exploration projects will result indiscoveries. The chance that an exploration project will result in the
discovery of petroleum is referred to as the “chance of discovery.” Thus, for
an undiscovered accumulation the chance of commerciality is the product of
two risk components — the chance of discovery and the chance of
development.