Historically explorationists tend to be optimistic and overestimate their likelihood of success and the size or scale of their success.
ExploreX is designed to provide a probabilistic process which leads the user thru a series of steps that if followed will provide a disciplined realistic assessment of geologic resources, commercial reserves, and ultimately expected value.
The software is designed in such a way that the user must input and test a realistic range of critical factors (porosity, area, rock volume, water saturation, etc.) that are critical to determining a realistic range of resource / reserves.
The combination of a realistic range of prospect resource / reserves, geologic success rate, historical field size distributions, and minimum economic field size allow geoscientists to assess whether or not an exploration program that leads to geologic success will ultimately result in economic success.
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