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Lower commerciality means lower value
Example company results new fields discovered 1995-2004
0
1,000
2,000
3,000
4,000
5,000
1995
1997
1999
2001
2003
$0.00
$1.00
$2.00
$3.00
$4.00
Reserves (mmboe)
Value ($million)
Value/boe ($/boe)