Concluding Remarks
175
Types of estimates—
•
What types of estimates does the method
provide (aggregate estimates vs. pool-size estimates)? Do the
types of estimates fulfi ll our needs for economic analysis?
Feedback mechanisms
•
—What types of feedback mechanism
does the method offer?
PETRIMES is based on a probabilistic framework that uses superpopulation and fi nite population concepts, discovery process models,
and the optional use of lognormal distributions. The reasoning behind
the application of discovery process models is that they offer the only
known way to incorporate petroleum assessment fundamentals (i.e.,
realism) into the estimates. PETRIMES requires an exploration time
series as basic input and can be applied to both mature and frontier
petroleum resource evaluations.
175
Types of estimates—
•
What types of estimates does the method
provide (aggregate estimates vs. pool-size estimates)? Do the
types of estimates fulfi ll our needs for economic analysis?
Feedback mechanisms
•
—What types of feedback mechanism
does the method offer?
PETRIMES is based on a probabilistic framework that uses superpopulation and fi nite population concepts, discovery process models,
and the optional use of lognormal distributions. The reasoning behind
the application of discovery process models is that they offer the only
known way to incorporate petroleum assessment fundamentals (i.e.,
realism) into the estimates. PETRIMES requires an exploration time
series as basic input and can be applied to both mature and frontier
petroleum resource evaluations.