1. All Geological and Geophysical costs are expensed under the Successful Efforts method of accounting.

True

False

2. The drilling of a well to establish the perimeters of a reservoir is an exploratory well.

True

False

3. Proved reserves and proved developed reserves are just different names for the same thing.

True

False

4. Production costs are treated the same under both the successful efforts method of accounting and the full cost method of accounting.

True

False

5. Under the successful efforts mothed of accounting intangible drilling costs are always expensed.

True

False