RE: RE: Will 5 Hold? seeing that I was mentioned, I am here, being patient, regular calls to MRP, watching to progress unfold aiming at production, good luck to all longs.
ps, notice in the last MRP news More referred to MRP 22M barrels as 2P vice 2C.
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Actually More is not an OIL man and that statement sort of reinforce the statement. Pay very close attention to the wording it is 2 P but not 2P Reserve, he states 2P Resources.
Technically speaking 2P Resources translates into Probable Resources, which is rated below 2C or 3C for that matter. Contigent Resourses is above Probable resources.
Furthermore, 2P resources would be referring to Undiscovered OIL, which obviously is not the case here - hence the statement should be 2C resources, not 2 P.
Still awaiting for the Schlumberger report to come out which hopefully puts and end to this confusion, and moves the field into some 2P RESERVE numbers.