ROG 14.3% 0.8¢ red sky energy limited.

where is my pilot well again?, page-21

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    That's 114 Petajoule (PJ) of 3P reserves.

    1P = Proven
    2P = Probable
    3P = Possible

    Explained via a Google search @: http://www.sener.gob.mx/res/456/Hydrocarbon%20reserves.pdf

    The first are constituted by those volumes of hydrocarbons, whose analysis of the geologic information and engineering suggests are more feasible of being commercially recoverable. If statistical methods for their evaluation are used a probability of at least 50% will exist that the amounts to recover are equal or greater to the sum of the proven reserves plus the probable ones. The 2P reserves, therefore, are constituted by the sum of the proven reserves plus the probable ones.

    The second, however, are characterized to have a commercial recovery, considered from geologic information and engineering. Thus, if statistical methods are used, the sum of the proven reserves, probable plus the possible ones will have at least one probability of 10% (90% chance) that the amounts really recovered are equal or greater.

    Consequently, the 3P reserves calculate from the sum of the proved plus probable plus possible reserves.

    To get your head wrapped around PJ do the same, a google search. Also, a peer comparison helps to put the reserves into perspective.

    Over to you now as your question could take a book to explain.

    Google is your friend :)

    Gaspew ;)
 
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