Definitions for "PROVEN RESERVES"
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.
Mineral deposits that have been explored thoroughly enough to be quantified but which are still in the ground.