Category: Oil and Gas business

Reasonable expectation to obtain the internal and external permits required to start the existing development program

The average gross thickness of the reservoir layer across its entire geological structure

Include:

Trap integrity
Reservoir quality
Source evaluation
Timing / migration

leading to probability of geological success

The volume of one standard cubic feet of natural gas under reservoir pressure and temperature conditions

The ratio between the reservoir strata and those strata that are not part of the reservoir trapped in a particular geological structure

Project Maturity Sub-Class of a development on hold project is defined as resources in a proven field (namely, a field that has been drilled and in which a discovery has been made according to the rules of PRMS), but for which the activities have been put on hold and/or for which the economic justification to develop the field could be significantly delayed.

The conditions to define these resources (all or part) as reserves, are the approval of a development plan and proof that the development of the field and production from it are economic.