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Barryroe Offshore Energy

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Broker Notes & Glossary

Glossary of Terms

TermExplanation
1CLow estimate scenario of Contingent resources
1PProven reserves
2CBest estimate scenario of Contingent resource
2PProven and Probable reserves
3CHigh estimate scenario of Contingent resources
3PProven and Probable and Possible reserves
AAPGAmerican Association of Petroleum Geologists
APIMeasure of the specific gravity of the petroleum fraction relative to water
AVOAmplitude Versus Offset (geophysics)
BBL/MMSCFBarrels per Million Standard Cubic Feet of gas
BBLOilfield Barrel (equates to 42 US Gallons, about 159 litres)
BCFBillions of Cubic Feet of gas
BCPDBarrels of Condensate Per Day
BHABottom Hole Assembly
BHPBottom Hole Pressure
BOEBarrels of Oil Equivalent (6,000 cubic feet of gas equals 1 barrel of oil equivalent)
BOEPDBarrels of Oil Equivalent Per Day
BOPBlow Out Preventer
BTUBritish Thermal Unit
CAPEXCAPital EXpenditure
CGRCondensate to Gas Ratio
DSTDrill Stem Test
E&PExploration and Production
FIDFinal Investment Decision
FPSOFloating Production Storage Offloading vessel
FSOFloating Storage Offloading vessel
GDTGas Down To
GIIPGas Initially In Place
GOCGas Oil Contract
GUTGas Up To
GWCGas Water Contract
HIIPHydrocarbon Initially In Place
IOOAIrish Offshore Operators Association
MMBCMillions of Barrels of Condensate
MMBOMillions of Barrels of Oil
MMBOPDMillions of Barrels of Oil Per Day
MMBOEMillions of Barrels of Oil Equivalent
MMBOEPDMillions of Barrels of Oil Equivalent Per Day
MMBTUMillion British Thermal Units
MMSCFMillions of Standard Cubic Feet of gas
MMSCFDMillions of Standard Cubic Feet of gas Per Day
NPVNet Present Value
ODTOil Down To
OPEXOPerating EXpenditure
OUTOil Up To
OWCOil Water Contact
PESGBPetroleum Exploration Society of Great Britain
SPESociety of Petroleum Engineers
STOIIPStock Tank Oil Initially In Place
TCFTrillion Cubic Feet of gas
TVDSSTrue Vertical Depth Subsea
WUTWater Up To

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