Investors

Glossary

Term	Description
1C	Low estimate of contingent resources
1P	Proven reserves
2C	Best estimate of contingent resources
2P	Proven and Probable reserves
3C	High estimate of contingent resources
barrel/bbl	The standard unit of measurement for all production and sales – one barrel equals 159 litres or 35 imperial gallons
bscf/bcf	Billion standard cubic feet where a billion is defined as 10 ⁹. On average 1 bscf of sales gas = 1.055 petajoules
boe	Barrels of oil equivalent - the factor used to convert volumes of different hydrocarbon production to barrels of oil equivalent. Conversion rate used by Oil Search for gas is 6,000 cubic feet gas is equivalent to 1 barrel of oil
bopd	Barrels of oil per day
BTU	British Thermal Units, a measure of thermal energy. 1 BTU is equivalent to 1,055 joules
development well	Wells designed to produce hydrocarbons from a gas or oil field within a proven productive reservoir defined by exploration or appraisal drilling
GOR	Gas to oil ratio
hydrocarbons	Solid, liquid or gas compounds of the elements hydrogen and carbon
LNG	Liquefied natural gas
LPG	Liquid petroleum gas
MENA	Middle East/North Africa
mmbbl	Million barrels
mmscf/d	Million standard cubic feet per day
mmtpa	Million tonnes per annum (LNG)
PDL	Petroleum Development Licence
PL	Pipeline Licence
PRL	Petroleum Retention Licence
PJ	Petajoules – joules are the metric measurement unit for energy – a petajoule is equal to 1 joule x 10 ¹⁵
PNG	Papua New Guinea
PPL	Petroleum Prospecting Licence
Seismic Survey	A survey used to gain an understanding of rock formations beneath the earth’s surface
tcf	Trillion cubic feet (measurement of gas volume)
wildcats	Exploration wells testing new play concepts or structures distanced from current fields