Oil and gas which has not been produced but has been located and is recoverable.
The economically mineable material derived from a Measured Diamond Resource. It is estimated with a high level of confidence. It is inclusive of diluting materials and allows for losses that may occur when the material is mined. Appropriate assessments, which may include feasibility studies, have been carried out, including consideration of, and modification by, realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction is reasonably justified.
Oil and gas which has been discovered and determined to be recoverable but is still in the ground.
The quantity of oil and gas estimated to be recoverable from known fields under existing economic and operating conditions. Determined on the basis of drilling results, production, and historical trends.
The estimated quantities of fossil fuels, which analysis demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions.
reserves which are technically and economically feasible.
Those reserves which geological, geophysical and engineering data indicate to be in place and recoverable with a high degree (90%) of certainty.
Estimated quantities of hydrocarbons that geological and engineering data demonstrate will be recoverable from known oil and natural gas reservoirs under existing economic and operating conditions.
Those reserves which on the available evidence are virtually certain to be technically and economically producible (i.e. having a better than 90% chance of being produced).
Resources for which tonnage is computed from dimensions revealed in outcrops, trenches, workings or drill holes and for which the grade and/or quality is computed from the results of detailed sampling. The sites for inspection, sampling and measurement are spaced so closely and the geologic character is so well defined that size, shape, depth and mineral content of reserves are well established. The computed tonnage and grade are judged to be accurate, within limits which are stated, and no such limit is judged to be different from the computed tonnage or grade by more than 20%.
Known, presumably recoverable oil and gas deposits in a tested and drilled area. Ascertained from drilling results, production, and historical data.
Estimated quantities of energy sources that analysis of geologic and engineering data demonstrates with reasonable certainty are recoverable under existing economic and operating conditions. The location, quantity, and grade of the energy source are usually considered to be well established in such reserves.