IntroductionWho Defines ReservesSecurity and Exchange Commission (SEC)Financial Accounting and Standards Board (FASB)Society of Petroleum EngineerIntroductionWho Defines ReservesSecurity and Exchange Commission (SEC)Financial Accounting and Standards Board (FASB)Society of Petroleum Engineers (SPE)World Petroleum Congress (WPC)American Association of Petroleum Geologists (AAPG)Society of Petroleum Evaluation Engineers (SPEE)International Energy Agency (IEA)International Accounting and Standards Board (IASB)United Nations (UN)Energy Information Agency (EIA)Alberta Securities ExchangeChinaMajor SEC rule changes of 2009SPE Reserve ClassificationSPEPetroleum Resources Management SystemResourcesSPESECChinaReservesSECSPEPRCGeneralMinerals Other than Oil and GasUnconventional ResourcesProblems with Reserve ClassificationProved ReservesProved DevelopedProved UndevelopedSECSPE/WPCChinaUndeveloped Reserves Narrative DisclosureVolumes in Un_Perated Fault BlocksBasic Proved ReservesElements of Proved ReservesQuantities of HydrocarbonsReasonable CertaintyEconomically RecoverableExisting Economic and Operating ConditionsMiscellaneous IssuesVolumetric Method of Reserve EstimationGeneralReservoir VolumeMappingReservoir FluidsPorosityWater SaturationPressure BaseFormation Volume FactorCutoffsReservoir LimitsReservoir AreaRecovery FactorData RequirementsComment LettersReserve EstimatesGeneralDataReserve EvaluatorDeterministicProbabilisticPerformance MethodsImproved RecoveryProbable ReservesExamples of Probable ReserveChinaProbable ReservesExamples of Possible ReservesChinaSEC Reporting RequirementsGeneralGeographic AreaDisclosure RulesMaterialitySEC Reserve ReviewsReserve Write_downsReserve Estimators and AuditorsGeneralSECSPEInternational Reserve DefinitionsAustraliaFormer Soviet Union (FSU)NorwayUnited KingdomCanadaMexicoMiddle EastTrinidad and TobagoVenezuelaReserve Reports vs. AuditsReserve ReportsAudit ReportsReserve Risk AssessmentReserve RiskEconomic RiskSPEESarbanes_OxleyEffect on Private CompaniesRestrictions on Corporate ActivitiesCorporate TransparencyPenaltiesAuditor IndependenceAppendix ASPE Petroleum Reserves DefinitionsAppendix BSample Letter Sent to Oil and Gas ProducersAppendix CAAPG Petroleum Resources Classification System and DefinitionsAppendix DSEC Reserve ChecklistAppendix EData Requirements for Reserve EstimatesAppendix FScopeTerms and definitionsExploration and development phasesReserves Economic CriteriaResources /Reserves ClassificationAppendix GReserve Comparison Table
