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| The Securities
and Exchange Commission, in SX Reg. 210.4-10 dated November 18,
1981, as amended September 19, 1989, requires adherence to the
following definitions of "proved" oil and gas reserves. |
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(3) Proved
developed oil and gas reserves. Proved developed oil and gas
reserves are reserves that can expected to be recovered through
existing wells with existing equipment and operating methods.
Additional oil and gas expected to be obtained through the application
of fluid injection or other improved recovery techniques for
supplementing the natural forces and mechanisms of primary recovery
should be included as "proved developed reserves" only after
testing by a pilot project or after the operation of an installed program has confirmed
through production response that increased recovery will be achieved. |
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