05.07.2009

Unproved reserves which analysis of geological and engineering data suggests are less likely to be recoverable than probable reserves. When probabilistic methods are used, there should be at least a 10% probability (P10) that the quantities actually recovered will equal or exceed the amount of estimated reserves. Also often referred to as P3. Possible reserves may include: (1) reserves that based on geological interpretations could possibly exist beyond areas classified as probable; (2) reserves in formations that appear to be petroleum bearing but may not be productive at commercial rates; (3) incremental reserves attributed to infill drilling that are subject to technical uncertainty; (4) a project is planned but is not yet in operation or there is a reasonable doubt that it can be developed commercially, (5) reserves would appear to be structurally lower than the proved area

Port Dolphin Energy is a wholly owned US subsidiary of the Norway based company Hoegh LNG. Port Dolphin is scheduled to start commercial operations by 2011 with a peak send-out capacity of 1.2 bcf/d. The project will consist of one or more LNG Shuttle and Regasification Vessels, two submerged turret unloading and mooring buoys to receive an average of up to 800 million cubic feet per day of natural gas; and a 42 mile offshore pipeline to bring the natural gas from the offshore terminal to Port Manatee in Tampa Bay; and a 4 mile onshore pipeline ending at an interconnection station with inter- and intrastate pipelines.

Are both related to rock characteristics and are two of the primary factors that control the movement and storage of fluids in rocks and sediments. The exploitation of petroleum is partially dependent on the properties of porosity and permeability. Porosity is the ratio of the volume of openings (voids) to the total volume of material. Porosity represents the storage capacity of the geologic material. Permeability is a measure of the ease with which fluids will flow though a porous rock, sediment or soil. Just as with porosity, the packing, shape, and sorting of granular materials control their permeability. Although a rock may be highly porous, if the voids are not interconnected, then fluids within the closed, isolated pores cannot move

The ratio of the volume of space to the volume of solid rock in a formation indicating how much oil, natural gas, or water the formation can hold. Only high porosity reservoir rocks, like sandstone, bear oil and gas.

Porosity and permeability; oil and/or gas reservoir with poor / good porosity and permeability