Contingent Resources means those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political, and regulatory matters or a lack of markets. It is also appropriate to classify as contingent resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage.
Contingent Resources means quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political, and regulatory matters, or a lack of markets. Contingent resources are further classified in accordance with the level of certainty associated with the estimates and may be subclassified based on project maturity and/or characterized by their economic status;
Contingent Resources means those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by application of development projects but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingent Resources are a class of discovered recoverable resources.
Examples of Contingent Resources in a sentence
The existing East Sinapa oil discovery is estimated to contain Contingent Resources of 13.4 million barrels of oil (unrisked, 2C, 100% basis), with 2.0* net to FAR.
The estimated quantities of Contingent Resources stated in the tables above that may potentially be recovered by the application of a future development project(s) relate to discovered accumulations.
Contingent Resources EstimateContingent resources are those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations by the application of development project(s) not currently considered to be commercial owing to one or more contingencies.
Contingent Resources means those quantities of discovered petroleum which are potentially recoverable but not yet considered mature enough for commercial development due to technological or business hurdles.
NSAI independently regularly reviews the Company’s Reserves and Contingent Resources.
More Definitions of Contingent Resources
Contingent Resources means those quantities of oil and gas estimated on a given date to be potentially recoverable from known accumulations but are not currently economic;
Contingent Resources has the meaning given in Appendix A: Glossary of Terms Used In Resource Evaluations of the PRMS.
Contingent Resources as defined in COGEH 5.2, shall mean those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include factors such as economic, legal, environmental, political, and regulatory matters, or a lack of markets. It is also appropriate to classify as “Contingent Resources” the estimated discovered recoverable quantities associated with a project in the early evaluation stage. Contingent Resources are further classified in accordance with the level of certainty associated with the estimates and may be sub-classified based on project maturity and/or characterized by their economic status.
Contingent Resources is defined in COGEH. The volumes listed in the table above entitled "Contingent Bitumen Resources" refer to recoverable bitumen estimates, as per the definition of "Contingent Resources" in COGEH. The bitumen estimates in the above table were calculated at the outlet of the proposed extraction plant. The Best Estimate is the current basis of the audited mine plan. The Low and High estimates are derived in the Company's document entitled the "Fort Hills Project Conceptual Mine Plan Study" which was completed in March, 2006. The contingencies that prevent these bitumen resources from being classified as reserves include, but are not limited to, revised regulatory approval, completed feasibility study and full company commitment. We have no responsibility to update our report for events and circumstances occurring after the respective preparation date. Because the resources data are based on judgments regarding future events, actual results will vary and the variations may be material. Sproule Associates Ltd. Calgary, Alberta February 23, 2007 /s/ Grant I. Sanden, P. Eng ---------------------------- Grant I. Sanden, P.Eng. Xxxxxxxxx 26/02/2007 dd/mm/yr /s/ R. Keith MacLeod, P. Eng ----------------------------- R. Keith MacLeod, P.Eng. Xxxxxxxxx Vice-President 26/02/2007 dd/mm/yr SCHEDULE C REPORT OF MANAGEMENT AND DIRECTORS ON DECEMBER 2006 OIL AND GAS DISCLOSURE Management of Teck Cominco Limited (the "Corporation") is responsible for the preparation and disclosure of information with respect to the Corporation's oil and gas activities in accordance with securities regulatory requirements. An independent qualified reserves evaluator has evaluated the resources data associated with the Fort Hills oil sands project and has concluded that the best estimate of contingent resources associated with the Corporation's 15% interest in the project is 708 million barrels of recoverable bitumen. The report of the independent qualified reserves evaluator has been filed with securities regulatory authorities. A committee of the Board of Directors of the Corporation composed of a majority of independent directors has
Contingent Resources means those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingent Resources have an associated chance of development (economic, regulatory, market and facility, corporate commitment or political risks). Contingent Resources are not risked for the chance of development. There is no certainty that they will be commercially viable to produce any portion of the contingent resources;
Contingent Resources means those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies. Contingencies may include such factors as economic, legal, environmental, political and regulatory matters or a lack of markets. It is also appropriate to classify as Contingent Resources the estimated discovered recoverable quantities associated with a project in the early evaluation stage. Contingent Resources are further classified in accordance with the level of certainty associated with the estimates and may be sub-classified based on project maturity and/or characterized by their economic status. There is no certainty that it will be commercially viable to produce any portion of the Contingent Resources or that any portion of the volumes currently classified as Contingent Resources will be produced. The recovery and resource estimates provided herein are estimates. Actual Contingent Resources (and any volumes that may be classified as Reserves) and future production from such Contingent Resources may be greater than or less than the estimates provided herein;
Contingent Resources means quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations but the applied project(s) are not yet considered mature enough for commercial development due to one or more contingencies;