Reserves and Resources

Guides


1. Petroleum Resources Management System published by the Society of Petroleum Engineers (SPE) in cooperation with American Association of Petroleum Geologists (AAPG), World Petroleum Council (WPC) and Society of Petroleum Evaluation Engineers (SPEE) in 2007

Approved by the Society of Petroleum Engineers Board, this system for defining reserves and resources was developed by an international group of reserves evaluation experts. The document provides an overview of the different parts of the resource estimation process (resource categorization, evaluation, evaluation, measurement and resources entitlement). A petroleum resources management system provides a consistent approach to estimating petroleum quantities, evaluating development projects, and presenting results within a comprehensive classification framework.

2. Guidelines for Application of the Petroleum Resources Management System published by the Society of Petroleum Engineers (SPE) in cooperation with American Association of Petroleum Geologists (AAPG), World Petroleum Council (WPC) and Society of Petroleum Evaluation Engineers (SPEE) in 2011

The intent of these guidelines is not to provide a comprehensive document that covers all aspects of reserves calculations but an update of the the 2001 Guidelines for the Evaluation of Petroleum Reserves and Resources. However, these expanded new guidelines serve as a very useful reference for petroleum professionals.

3. Mapping Subcommittee Final Report: Comparison of Selected Reserves and Resource Classifications and Associated Definitions published by the Oil and Gas Reserves Committee (OGRC) in 2005

This document compares the resource classifications employed by 8 different issuing agencies and then provides recommendations with respect to the criteria set, estimation of resources and the type of reserve classes.

4. Mineral Resource Reporting – Differences between CIM, JORC, and Others published by Micon International Ltd. 

A useful comparison and guidelines of the different reporting systems, developed by MICON Ltd.

5. Australasian Code for Reporting of Exploration Results, Mineral Resources & Ore Reserves (JORC Code, 2012) published by the Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC)

The Australasian Code for Reporting of Exploration Results, Mineral Resources & Ore Reserves (the 'JORC Code' or 'the Code') sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration results, Mineral resources and Ore Reserves. The Joint Ore Reserves Commitee ('JORC') was established in 1971 and published several reports containing recommendations on the classification and Public Reporting of Ore Reserves prior to the release of the first edition of the JORC Code in 1989.

6. Australia mining portal to exploration reporting guidelines published by the Government of Australia

Australia Minerals portal provides guidance for reporting of digital exploration data, exploration reporting template software and commonwealth reporting guidelines, as well as State and territory reporting guidelines based on the national guidelines.

7. Guidelines for Mineral Exploration Reports on Mining Tenements published by the Government of Western Australia in 2016

The guidelines are designed to assist holders of mining tenements in Western Australia in the preparation and submission of mineral exploration reports that comply with section 115A of the Mining Act, 1978.

8. A Guide for Exploration, Retention & Mining Licence Holders for Reporting on Exploration Activities published by the State Government of Victoria in 2013

This guideline is designed to assist licensees to prepare an area work plan for exploration. The basic requirements for work plans are set out in Schedule 14 of the Mineral Resources (Sustainable Development) (Mineral Industries) Regulations 2013 (MRSDMIR).

9. Guide to Reporting Exploration Results, Mineral Resources & Mineral Reserves published by the Society for Mining, Metallurgy & Exploration in 2014

The Guide is recommended as a minimum standard for reporting Exploration Results, Mineral Resources and Mineral Reserves for public and private purposes. In terms of the Guide, Public Reports are reports prepared for the purpose of informing investors or potential investors and their advisers on Exploration Results, Mineral Resources or Mineral Reserves.

10. PERC Reporting Standard 2016 - Exploration Results, Mineral Resources & Reserves published by the Pan-Eurpean Reserves & Resources Reporting Committee in 2016

This document sets out minimum standards, recommendations and guidelines for Public Reporting of Exploration Results, Mineral Resources and Mineral Reserves in Europe.

11. International Reporting Template for Exploration Reports, Mineral Resources & Mineral Reserves  published by the Comittee for Mineral Reserves International Reporting Standards in 2016

This reporting template integrates the minimum standards being adopted in national reporting codes worldwide with recommendations and interpretive guidelines. It is intended to assist those countries that either do not have a reporting code or whose code is outdated, to produce a new code consistent with international best practice. It also provides a consolidated version of national codes that reflects their compatible international components and may thus be used in comparisons with other international reporting systems.