re: annoucement out what do u think jmh4 The gas will be...

re: annoucement out what do u think jmh4 The gas will be converted to 118 million barrels of oil equivelent?? shezzz... the uprage to the oil reserves was a little on the low side.

this happened last time the reserves were upgraded....took a while for the market to price it in.

This development will address the Best Estimate Contingent Resources of 379.2 PJ of gas and 19.1 million bbls of oil and condensate. This equates, in aggregate to 118 million barrels of oil equivalent (MMboe) of Reserves and Contingent Resources, some 240% increase on the previously reported estimate of 49.3 MMboe. The classification of gas and gas liquids as a Contingent Resource is only while the gas project awaits the formal commitment to a gas contract and Joint Venture approval, which is expected during the next month.