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Strategies & Market Trends : Strictly: Drilling II
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To: Frank Pembleton who wrote (12110)5/11/2002 3:05:04 AM
From: nspolar   of 36161
 
Frank, not too long we posted about some George Will comments on the estimated reserves in ANWR. G's figure as I recall was 31 B. I came across this:

<The current assessment shows an overall increase in estimated in-place oil resource when compared to the 1987 assessment. Ranges are 11.6 to 31.5 BBO versus 4.8 to 29.4 BBO, (95- and 5-percent probabilities) and mean values are 20.7 BBO versus 13.8 BBO (current assessment compared to 1987 assessment).>

These are USGS estimates. So George did use what best suited his purpose, the 5% probability figure.
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