Under the new SEC rules you don't have to drill a well and actually produce oil. An operator can establish levels of lowest known hydrocarbons and highest known oil through "reliable technology" other than well penetrations. It doesn't have to be 90% reliable or widely accepted by industry peers. It can be AVO bright spots, or a fuzzy patch of seismic that could conceivably be a mud volcano, or the ridiculous Russian hokum of "passive" hydrocarbon indicators. You don't even have to explain exactly what your technology does, if it's proprietary and trade secret.Ganska fantastiskt hur en finansinspektion kan sätta regler som gör nästan vad som helst tillåtet. Så se upp med aktier i amerikanska oljebolag från nästa år.We [the SEC] proposed to define the term "reliable technology," expressed in probabilistic terms, as technology that has been proven empirically to lead to correct conclusions in 90% or more of its applications. Several commenters expressed concern that this proposed 90% threshold would be difficult to verify and support on an ongoing basis. We agree that a bright line test would be difficult to apply to a particular technology or mix of technologies to determine their reliability. Therefore, we are not adopting the 90% threshold as part of the definition... The proposal also would have required reliable technology to be "widely accepted." However, some commenters were concerned that this requirement would exclude proprietary technologies that companies develop internally that have proven to be reliable. We concur with these commenters and have removed the "widely accepted" requirement from the final rule.
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