Numbered Terms
The engineering term P90 refers to 90 percent engineering probability, is a commonly accepted specific definition by Society of Petroleum Engineers, it does not take into account anything except technical concerns. Therefore, it is different from the business term which does take into account current break-even profitability, and regulatory and contractual approval, but is considered a very rough equivalent. The definition is certainly not universal. Energy Watch Group uses a different definition, P95.
Read more about this topic: Proven Reserves
Famous quotes containing the word terms:
“A radical is one of whom people say He goes too far. A conservative, on the other hand, is one who doesnt go far enough. Then there is the reactionary, one who doesnt go at all. All these terms are more or less objectionable, wherefore we have coined the term progressive. I should say that a progressive is one who insists upon recognizing new facts as they present themselvesone who adjusts legislation to these new facts.”
—Woodrow Wilson (18561924)