Low Estimate definition
Low Estimate means at least a 90% probability (P90) that the quantities actually recovered will equal or exceed the low estimate;
Low Estimate means a conservative estimate of the quantity that it will actually be recovered. It is likely that the actual remaining quantities recovered will exceed the low estimate. If probabilistic methods are used, there should be at least a 90% probability (P90) that the quantities actually recovered will equal or exceed the low estimate;
Low Estimate means an amount that Auctioneer anticipates that a Lot may bring at the low end of a spectrum of possible bids. The Low Estimate, if used, is not a valuation or appraisal, and cannot be relied on as such.
Examples of Low Estimate in a sentence
Low Estimate scenario of Prospective Resources - denotes a conservative estimate of the quantity that will actually recovered from an accumulation by an oil and gas project.
The Parties further agree that the Low Estimate was established based on the expense budget for the Business for 2001 prepared by the Sellers and attached as Exhibit 2.
More Definitions of Low Estimate
Low Estimate shall have the meaning set forth in Section 2.7(c).