Ann: Completion of Farmout to Oil Basins Ltd , page-12

re: Ann: MOG: Completion of Farmout to Oil Ba... Hi All,

BHP report 2.13.1 comments on reserves:

"Most of the Group’s projects require signifi cant capital expenditure
and multi-year lead times before initial production can be achieved
with the associated movement of reserves from undeveloped
to developed. Based on current project schedules, more than
99 per cent of the 924 MMboe currently classifi ed as undeveloped
are actively being pursued and are scheduled to be on stream within
the next fi ve years. The remaining undeveloped reserves are located
in active fi elds expected to produce well into the next decade and
will be brought on stream in a phased manner to best optimise
the use of production facilities and to meet long-term gas supply
contracts. The Petroleum Group has a dependable history
of progressing large undeveloped volumes from undeveloped
to developed, evidenced by the past three years, which have
averaged nearly 80 MMboe per year.
2.13.2"


Cudeco1 - dyor