Supporting Your Success

Corporate Governance

petroCUBE helps your company ensure due diligence.

Under NI 51-101, you are responsible for all oil and gas disclosures made by your company if you are a part of company management, on the board of directors, a member of the reserves audit committee of the board of directors, or all three.

Test Reasonableness

• Use petroCUBE's cumulative frequency curves (providing initial production rate and reserve distributions), to test the reasonableness of the reserves and production profiles assigned to your new (or older) producing wells, to your proved undeveloped and to your probable undeveloped reserves.
• Use petroCUBE to find out if the initial production rates used are reasonable. If your reserves or initial production rates are above average, you should quiz your Independent Qualified Reserves Evaluator or Auditor (IQRE) about the evidenced they have to support their findings. Overstating reserves for new wells and undrilled locations assigned reserves is a sure way of inviting close scrutiny of your reserves book.

• Maximize the value of non-core assets for disposition purposes. petroCUBE's cumulative frequency curves provide you and your IQRE with evidence from analogs to your wells. These analogs can be created quite easily in petroCUBE and analyzed online. This data will support you or your IQRE should your reserves disclosures be subject to securities audit or practice standard audit. You can also provide confident assurance to market analysts that your new wells and undrilled locations were fairly evaluated.