Initial Proven + Probable Reserves
Initial Proven + Probable Reserves : Defined in either COGEH or SPE - PRMS as bitumen reserves within the company defined Project area that is reasonably probable (50% probability) of being produced using current or likely technology at current prices, with current commercial and regulatory terms and conditions prior to first production at inception of the OSR Project application. For OS Projects approved prior to June 30, 2009, operators may determine the "As at Date" to provide the DOE with a historical date. Operator defined date must be December 31, 2008 or earlier. Note: Report gross reserves calculated prior to royalty determination. Methodology Used to Determine Reserves Canadian Oil and Gas Evaluation Handbook (COGEH) Society of Petroleum Engineers -Petroleum Resource Management System (SPE-PRMS)
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