proven reserves

(in UKLR223):

1. (a) in respect of mineral companies primarily involved in the extraction of oil and gas resources, those reserves which, on the available evidence and taking into account technical and economic factors, have a better than 90% chance of being produced; and
2. (b) in respect of mineral companies other than those primarily involved in the extraction of oil and gas resources, those measured mineral resources211 of which detailed technical and economic studies have demonstrated that extraction can be justified at the time of the determination, and under specified economic conditions.30