Wednesday, February 18, 2009

The Oil Drum - Book Review

In the oil drum review of Oil 101, Heading Out mentioned that I didn't incorporate the recent (Dec, 2008) changes to the US SEC definitions of reserves. The changes are referred to in paragraph 6 on page 296 of Chapter 14: Reserves of Oil 101. The changes take effect for financial reports filed after Dec 15, 2009. I agree with Heading Out that it is challenging to incorporate last minute changes into a book. A decision was made with knowledge of the new regulations to leave the existing SEC definitions in place (with reference to upcoming changes) as all of the financial reports readers see at the moment refer to the "old" SEC definitions.

Heading Out also made a very good point about it being beneficial to see expanded versions of charts and diagrams used in the book. I hope to address this with selected charts from the book appearing on the site
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