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But is there a trend of declining quality of discoveries?
Oil Reserves Discovered by Exploration Drilling
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
% Total Reserves Discovered
Commercial Oil
Resource Oil
Commercial = 77% of Total