GREY:ROAOF - Post by User
Comment by
OILANDGASon Apr 30, 2004 10:36am
241 Views
Post# 7425100
RE: JWMCLEAN
RE: JWMCLEANAs long as the well spudded prior to year end (December 31st, 2003) the reserves booked for this well can be used as 2003 year reserves even though the well finished drilling and was production tested in January 2004. This is why they state that "Proven plus Probable reserves of 15,017,000 barrels of oil were attributed to Oilexco's interest in 15/25b by Sproule at January 1, 2004". The other wells because they were spudded in 2004 can not be used to in the 2003 year end reserve report but will be used in the 2004 year end reserve report. There is nothing fishy going on.