Petroleum Reserves & Economic Fundamentals

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=125 BGCOLOR="#0033FF" TEXT="#080000" bgproperties="fixed" background="4dd009e1egbrme.jpg"> <div> <A HREF="index.htm" TARGET="_top" TITLE="EDI, LLC "><I><B>EDI, LLC  Energy Education </B></I></A><I><B>.</B></I></div> <div> <B> <a href="id21.htm" target="_top" csb-linktype="CSBPage"><img src="HTMLobj-899/o.jpg" alt="Courses" border="0" align="bottom" csb-maintain-proportions="1" width="100" height="20" csb-button="Cap-Yellow" csb-font="" csb-font-bold="True" csb-font-italic="True" csb-font-strikethrough="False" csb-font-underline="False" csb-font-size="8" csb-font-color-o="986895" csb-font-color-h="0" csb-font-color-p="0" csb-font-horiz="Center" csb-font-verti="Center" csb-font-left="0" csb-font-top="0" csb-img-hover="1" csb-img-press="1" csb-img-preload="0" csb-img-backcolor="16777215" onmouseout="javascript:this.src='HTMLobj-899/o.jpg'" 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onmouseover="javascript:this.src='HTMLobj-1432/h.jpg'" onmouseup="javascript:this.src='HTMLobj-1432/h.jpg'" onmousedown="javascript:this.src='HTMLobj-1432/p.jpg'"></a>  </B><B>  </B></div> </td> </tr><tr> <td valign="top" width=225 BGCOLOR="#000000" TEXT="#F7F7FF"> <div> <U>Who should attend?</U></div> <div>  Financial analysts and advisors, exploration & production professionals and support personnel, credit officials, accounting personnel, human resource managers, land professionals & techs, investments bankers, portfolio managers & investors or anyone desiring more knowledge of the petroleum and natural gas industries.</div> <div> _____________________</div> <div> What reserves are & aren't. </div> <div> <IMG SRC="119a87e0.jpg" border=0 width="168" height="126" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></div> <div> Reserve definitions.</div> <div> <IMG SRC="10eaa800.jpg" border=0 width="170" height="128" ALIGN="BOTTOM" HSPACE="0" VSPACE="5"></div> <div> Technology & reserves.</div> <div> <IMG SRC="118ab810.jpg" border=0 width="171" height="129" ALIGN="BOTTOM" HSPACE="0" VSPACE="5"></div> <div> Calculating reserves.</div> <div> <IMG SRC="11aaa7f0.jpg" border=0 width="170" height="127" ALIGN="BOTTOM" HSPACE="0" VSPACE="5"></div> <div> SEC reporting.</div> <div> <IMG SRC="12daa800.jpg" border=0 width="170" height="128" ALIGN="BOTTOM" HSPACE="0" VSPACE="5"></div> <div> And much more...</div> <bR> <bR> </td> <td valign="top" height=355 width="100%" BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <I><B><U>Petroleum Reserves & Economic Fundamentals</U></B></I><I><B>      </B></I><FONT SIZE="1" COLOR="#FFFF00" FACE="Arial" > <a href="id21.htm" target="_top" csb-linktype="CSBPage"><img src="HTMLobj-1096/o.jpg" alt="Brochure and Registration Form" border="0" align="bottom" csb-maintain-proportions="0" width="250" height="30" csb-button="Plain-Black" csb-font="" csb-font-bold="True" csb-font-italic="True" csb-font-strikethrough="False" csb-font-underline="False" csb-font-size="10" csb-font-color-o="16777215" csb-font-color-h="0" csb-font-color-p="0" csb-font-horiz="Center" csb-font-verti="Center" csb-font-left="0" csb-font-top="0" csb-img-hover="1" csb-img-press="1" csb-img-preload="0" csb-img-backcolor="986895" onmouseout="javascript:this.src='HTMLobj-1096/o.jpg'" onmouseover="javascript:this.src='HTMLobj-1096/h.jpg'" onmouseup="javascript:this.src='HTMLobj-1096/h.jpg'" onmousedown="javascript:this.src='HTMLobj-1096/p.jpg'"></a>  </FONT></div> <div> This course is an introduction to petroleum reserves, definitions, estimating oil and gas volumes, cash-flow, project economics. <U>Attendees will actually perform exercises calculating reserves using the same methods engineers use</U>. At the end, attendees will also select drilling well prospects on a limited budget. This game separates out the conservative investors from the riverboat gamblers. One of the goals of this class is to illustrate the "moving target" nature of reserves and their valuation. Unlike others, this one really delves into the reserve determination process. </div> <div> ________________________________________________________________________________</div> <bR> <div> <B>Mr. Wilson will summarize current issues regarding reserve reporting and will explain the viewpoints of companies and the SEC. Case examples will be presented to illustrate the various opinions as to what can be booked.</B></div> <div> ________________________________________________________________________________</div> <bR> <div> <I><B>Course Objectives</B></I></div> <bR> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Understanding oil and gas reservoirs; reserve definitions & examples</div> <div> <IMG BORDER="0" SRC="Symb075c00b7011800003300.png" HEIGHT="19" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Review of  issues with new SEC definitions </div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Categories: proved, unproved, contingent (PP, PDNP, PUD, Prob, Poss)</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Methods used to estimate reserves; Where they work and don't work</div> <div>    - Analogy, volumetric, P/z, decline curve; <U>special considerations for shale decline analysis</U></div> <div> <I><B><IMG BORDER="0" SRC="Symb075c00b700f00000ff00.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">New: Analysis of how public companies fared with 2011 reserve reporting</B></I></div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Gas and Oil reserve calculating exercises showing the "high & low side" of reserves</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Production forecasting: Comparison of US and international basins</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Checking out reserve reports; SEC reporting; selected company 10-K's</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Review of recent reserve write-downs, reasons and implications</div> <div> <I><B><IMG BORDER="0" SRC="Symb075c00b700f00000ff00.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">More about 3rd party audits, reviews and evaluations</B></I></div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Comparison of SEC & SPE definitions; SOX influences</div> <div> <I><B><IMG BORDER="0" SRC="Symb075c00b700f00000ff00.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Material about how the SEC reviews & challenges company reserves</B></I></div> <div> <I><B>    - SEC issues over shale reserve evaluations</B></I></div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Third party engineers; red flags for over/under-stated reserves</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000003300.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">What triggers an SEC reserve investigation</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Typical project economic analysis; operating cost considerations</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Reversionary interests, back-ins and farmout cash-flow analysis</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Reserve replacement, cost of finding, R/P (Reserve Life Index) ratios</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Gas and oil price forecasting: art versus science</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Decision making methods; project comparison & ranking</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Acquisition and divesting trends </div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Simple lending and financial models</div> <div> <IMG BORDER="0" SRC="Symb075c00b700f000000000.png" HEIGHT="16" WIDTH="24" ALIGN="bottom" HSPACE="0" VSPACE="0">Excel software reserve & economics templates</div> <div> ________________________________________________________________________________</div> <div> <I><B>About This Course</B></I></div> <div> Included in each course is a 600+page workbook of slides, charts, illustrations, exercises, outlines and articles. Attendees find this book makes a good reference long after taking the class. Also included is a <I><B>free software disk</B></I> of Excel templates: "Reserve Generator" forecasting model, volumetric and decline analysis. </div> <div> A continental breakfast for morning classes plus midmorning and afternoon break with refreshments will be served. </div> <div> ________________________________________________________________________________</div> <div> <I><B>Prerequisites For This Course</B></I></div> <div> There are no prerequisites for this course.</div> <bR> <div> <I><B>Continuing Education Credits</B></I></div> <bR> <div> Continuing education credits, CPE, CPL., etc., have been granted for our courses by most states. Please call about your particular professional educational credits.</div> <bR> <div> Download our latest brochure showing dates and registration form:<FONT SIZE="1" COLOR="#0000BF" FACE="Arial" ><I><B> </B></I></FONT></div> <bR> <div>  <a href="id21.htm" target="_top" csb-linktype="CSBPage"><img src="HTMLobj-1097/o.jpg" alt="Brochure and Registration Form" border="0" align="bottom" csb-maintain-proportions="0" width="250" height="30" csb-button="Plain-Black" csb-font="" csb-font-bold="True" csb-font-italic="True" csb-font-strikethrough="False" csb-font-underline="False" csb-font-size="10" csb-font-color-o="16777215" csb-font-color-h="0" csb-font-color-p="0" csb-font-horiz="Center" csb-font-verti="Center" csb-font-left="0" csb-font-top="0" csb-img-hover="1" csb-img-press="1" csb-img-preload="0" csb-img-backcolor="986895" onmouseout="javascript:this.src='HTMLobj-1097/o.jpg'" onmouseover="javascript:this.src='HTMLobj-1097/h.jpg'" onmouseup="javascript:this.src='HTMLobj-1097/h.jpg'" onmousedown="javascript:this.src='HTMLobj-1097/p.jpg'"></a>  </div> <bR> <bR> <bR> <bR> </td> </tr></table></body>