COGEH

AcronymDefinition
COGEHCanadian Oil and Gas Evaluation Handbook
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The following reserves estimates are compliant with NI 51-101 and COGEH (with forecasted oil and gas prices and costs).
As per NI 51-101 and the reserves definitions in COGEH, reserves NAR to Gran Tierra Energy as at December 31, 2013 were 41.
The COGEH identifies non-technical contingencies as legal, environmental, political and regulatory matters or a lack of markets.
In October 2009, we released an updated independent engineering estimate of contingent, discovered and undiscovered resources which were prepared in accordance with the standards set out in COGEH and NI 51-101.
The portion of the discovered resources and undiscovered resources that have not been classified respectively as contingent resources or prospective resources would be categorized under COGEH as unrecoverable at this time, pending further testing and recovery process development.
Discovered resources (equivalent to discovered bitumen initially in-place) are defined within COGEH as that quantity of bitumen that is estimated, as of a given date, to be contained in known accumulations prior to production.
Contingent resources are defined within COGEH as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from known accumulations using established technology or technology under development, but which are not currently considered to be commercially recoverable due to one or more contingencies.
Prospective Resources are defined within COGEH as those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects.
Discovered unrecoverable resources (equivalent to discovered unrecoverable petroleum initially-in-place) are defined within COGEH as that portion of discovered resources which is estimated, as of a given date, not to be recoverable by future development projects.
Under the COGEH guidelines, any evaluation of our contingent resource volumes and economics is limited to the use of recovery methods that are developed and verified by testing in our reservoir.
The resource volumes herein were prepared using assumptions and methodology guidelines outlined in COGEH and in accordance with NI 51-101 (please refer to our website for a map of the evaluated areas).
A range of discovered and contingent resources estimates (low, best and high) was prepared to reflect a range of technical and economic uncertainties and was determined in accordance with COGEH.