RE:RE:RE:RE:RE:A New Era for POUMHP,
I tried doing a little research. You are certainly correct regarding complexity.
From what I can tell, surprises can and do occur. But it ain't easy.
If you can remember "Hollywood Hillbillies" you're not only old like me, but you can rest assured that the kind of discovery portrayed on the show is a thing of the past.
As far as making info mandatory, it appears that it can be required, especially when it comes to reserve estimates. I surmise that trying to figure out how much oil & gas is present probably takes many years.
That's why I was curious as to whether a big gusher is found on occasion. Kinda like a blind squirrel finding an acorn. It would seem that sort of thing would attract interest.
The estimates are made conservatively.
I suppose it's mostly so a buyer doesn't end up shortchanged.
It certainly is an interesting business.