RE: RE: RE: RE: EOIM et al.Baxter
The 63% number is from DeGolyer, a reputable industry company.
Remember they said a 63% chance that there was a 90% chance that reserves would be larger than 6 million barrels.
Well now the minimum size has been reduced to 1.2 million barrels but presumably the chance is still 63%?
So DeGolyer either saw something that they were concerned about or more likely there was something missing whereby they still assigned some uncertainty about the old wells: "too bad the old charts are missing, but Mohammed was pretty sure that the well tested 5000 bopd"?
One big question is how much is required for an economic project?? There has never been any comment as to what this size will be, but I suggest that it is likely colse to 50 million barrels???