Proven or Probable Reserves

RECENT NEWS
Reuters  Jan 12  Comment 
Afren Plc said there were no proven or probable reserves at its Barda Rash oilfield in Iraqi Kurdistan, denting its chances of fetching a good price for the asset to refinance its debt.




 

Proven or Probable Reserves are reserves that it is either "reasonably certain" or "reasonably probable" that the product can be produced, mined, or drilled given current technology at current prices, with current commercial terms.[1]



References

  1. Wikipedia:Oil Reserves
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