DB 1- Why did the SEC issue the Modernization of Oil and Gas Reporting in September 2008?

DB 2- List the costs that are treated the same under successful efforts and full cost accounting. List the costs that are treated differently.

DB 3- List three ways in which reserve information can affect the financial statements.

DB 4- When oil and gas reserves are considered as proved? Specifically, what areas of reservoirs are considered as proved?

DB 5- Define the two categories of unproved reserves.