Technicality? The JV has stated the have prospective resources (PR) in the Maastritchian zone.
PR Definition: quantities of petroleum which are estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects.
How can we have "undiscovered accumulations". The JV after all did drill two wells and disclosed discoveries. By definition, PR can be classified when "potential accumulations lack evidence of potentially recoverable hydrocarbons"... examples of this include inconclusive well logs, no tests (DST) or no samples.
hmmm... I seem to recall that management was adamant they didn't want to spend the extra money on getting new tools to gather fluid samples in Kawa. Instead they used gas chromatography.
At any rate, it's clear the two external labs who estimated the oil in place for northern corentyne didn't have enough hard data to ultimately classify it as contingent resources (ie, discovered). As a result, we are left with prospective... too many unknowns.
https://oilnow.gy/featured/authorities-say-cgx-has-been-treated-fairly-insist-no-dispute-exist-with-company/
Seems like the government, in the article above, is using Repsol as a case study. Repsol didn't discover anything! We did... unfortunately, because management was too stupid/cheap, we didn't get the proper data from the reservoir horizons. As such, we are left with a undesirable PR classification.
End of day, would not shock me if the government is using this terminology as a way of fuc*king over CGX and FEC. After all, they never actually "discovered" anything as per there classifications.