'Kaliboo' pid='73965' datel Wrote:Businesses whose primary service is to make reserve calculations have a number of things to keep in balance. (1) As professional engineers they have to comply with professional ethics standards, (2) they have to apply all available data to conduct their evaluation using best practices, (3) lastly there is some consideration as to what the client is wanting to learn and its impacts. It is my opinion that this last point is where the wiggle room is. Happy clients mean repeat business. A happy client is one who thinks the appraisal was fair or advantageous for their needs. An unhappy client is one who believes the appraisal was erring in an unfavorable direction, and this opinion is more likely to occur when the client loses money or opportunity as a result of the outcome.
So that said, let's consider some very basic reservoir engineering calculations to determine reserves.
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Kaliboo: I will bet all my dollars to all your donut holes that ALL DATA was not made AVAILABLE to the Certifiers.
It is incomprehensible to me that GCA came up with a lower estimate this time than previously if they were given all of the same data as the first time PLUS additional data, ALL OF WHICH SURPRISED TO THE UPSIDE