OGA Approval of PEDL143 Farm-In

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limestone	a sedimentary rock predominantly composed of calcite (a crystalline mineral form of calcium carbonate) of organic, chemical or detrital origin. Minor amounts of dolomite, chert and clay are common in limestones. Chalk is a form of fine-grained limestone
mean	or expected value, is the probability-weighted average of all possible values and is a measure of the central tendency either of a probability distribution or of the random variable characterised by that distribution
oil in place	the quantity of oil or petroleum that is estimated to exist originally in naturally occurring accumulations before any extraction or production
play	a set of known or postulated oil and or gas accumulations sharing similar geologic, geographic, and temporal properties, such as source rock, migration pathways, timing, trapping mechanism, and hydrocarbon type
Probability of Success (POS)	also known as chance of success (COS), being the probability that an exploration well will encounter flowable hydrocarbons from a prospect with a described volumetric probability distribution. The POS or COS represents the combined probability of the presence of key elements of a petroleum accumulation such as; the presence of mature source rock, effective hydrocarbon migration and charge, the presence of an effective reservoir and seal couplet and the presence and definition of a hydrocarbon trapping mechanism or trap
prospect	a project associated with a potential accumulation that is sufficiently well defined to represent a viable drilling target
prospective resources	those quantities of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of future development projects; potential accumulations are evaluated according to their chance of discovery and, assuming a discovery, the estimated quantities that would be recoverable under defined development projects. It is recognised that the development programs will be of significantly less detail and depend more heavily on analogue developments in the earlier phases of exploration
reservoir	a subsurface rock formation containing an individual natural accumulation of moveable petroleum that is confined by impermeable rock/formations
sandstone	a clastic sedimentary rock whose grains are predominantly sand-sized. The term is commonly used to imply consolidated sand or a rock made of predominantly quartz sand
tight oil	oil found or expected to be present within a reservoir with low permeability, i.e. a tight reservoir. The term, in the case of the Weald Tight Oil Plays, is applied to a play where trapped petroleum accumulations are expected to be pervasive throughout a large area and that are not significantly affected by hydrodynamic influences (also called "continuous-type deposits")
unrisked	without multiplying by the Probability of Success factor.

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