11 December 2012
Comments to Document EGRC/2012/INF.1/PC
P 13, definition of exploration project seems too vague. I think a more technical term is needed, perhaps “a project that remains in study phase and has not seen testing”.
In general, I am constantly thinking how this is going to work with the new unconventional deposits which are now a very large part of the pie but appears that we are still learning, that every company has its own classification system and is essentially a statistical play which only moves to proved when it is drilled. Their development also changes so fast with price that it is hard to keep up. I am wondering if this requires a special section!
Ivan Sandrea, Advisor to the President and CEO, Petra Energia