RE: Filter12 Aug 2020 16:42
It would be nice of the company to actually state what those figures means, in they have 8 trillion cubic feet of gas, and that equates to X million people using Y cubic feet of gas each so will last Z years.
Here’s the wiki explanation of 1P, 2P & 3P for those that have never looked into it
these reserve categories are totaled up by the measures 1P, 2P, and 3P, which are inclusive of all reserves types:
"1P reserves" = proven reserves (both proved developed reserves + proved undeveloped reserves).
"2P reserves" = 1P (proven reserves) + probable reserves, hence "proved AND probable."[2]
"3P reserves" = the sum of 2P (proven reserves + probable reserves) + possible reserves, all 3Ps "proven AND probable AND possible."[3][4][5]
New proven reserves are commonly added by new field discoveries. Reserves growth also commonly occurs in previously existing fields, as the characteristics of the reservoir become better understood, as fields are extended laterally, or new oil and gas reservoirs are found in existing fields. Reserve growth may also take place due to technological and economic changes.