Resource Assessment

The _______ can be both discovered and undiscovered.

• Resources

• Reserves

A ______ must be commercially recoverable under existing economic and operating conditions.

• Resources

• Reserves

A sufficiently defined potential accumulation is classified as ______.

• Prospect

• Lead

"A volumetric method in resource assessment with one value of each parameter and produces one outcome number."

• Probabilistic Assessment

• Deterministic Assessment

"It is a thickness of the stratigraphically defined interval in which the reservoir beds occur, including the interbedded non-productive intervals". This statement describes the ______.

• Net pay thickness

• Gross thickness

Why are prospect volumes calculated probabilistically?

• To produce only one outcome

• To reduce the risk of over-promising

• To avoid a distribution of outcomes

The LOW ESTIMATE in the probabilistic method is assessed as the ____.

• P10

• P50

• P90

"Hydrocarbon-Initially-In-Place (HIIP) may stay the same for years, but the Reserves may decrease due to operating costs and oil price". This statement is _____.

• True

• False

The BEST ESTIMATE in the probabilistic method is assessed as the ____.

• P10

• P50

• P90

Are water- and gas-bearing intervals included in the Net Pay Thickness?

• Yes

• No