Short Course

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ICE SC 04 | SAMOG Reporting Code, PRMS, and the UN Framework Code

AAPG International Conference and Exhibition (ICE)

Sunday, 4 November 2018, 8:00 a.m.–4:00 p.m. | Cape Town, South Africa

Who Should Attend

The course is aimed at geoscientists, investors and governmental policy makers who want to understand the relationships and differences between reporting for internal business decisions, investment decisions or governmental hydrocarbon inventories and policy making.

Objectives

This course aims to clarify the difference between internal (private) and public reporting of hydrocarbon quantities and asset value in the petroleum industry. Each report is aimed to satisfy different stakeholder requirements and assist in making investment decisions either by the reporting entity’s management or by external investors.

Course Content

For any business it is essential to understand and manage the product supply and demand relationship which will assist with defining a product inventory strategy. In the upstream petroleum industry this is no different. It is essential to know what quantities of hydrocarbons have been discovered and what prospective potential has been identified. How would a business report on these hydrocarbon quantities and who would be the stakeholders of these reports.

This short course will give an overview of the different stakeholders with their different requirements for report content and how the standards of reporting have developed. There are a multitude of reporting standards in the world which have evolved over time in response to local or industry-specific requirements. In this course we will focus on three reporting standards for three different stakeholder groups and show how they are related to each other. The question will be raised if we can have one standard that fits all?

The management of a petroleum company requires different hydrocarbon quantity and value information compared to an international investor on a stock exchange or an M&A advisor. The course will focus on different reporting standards and systems for quantity and value reporting and their application. It will give an overview of the Petroleum Resource Management System (PRMS) for quantity reporting and the SAMOG code for value reporting used by the Johannesburg Stock Exchange to inform investors. In addition the United Nations Framework Classification (UNCF) will be discussed which is aimed at classifying and reporting of fossil energy and mineral reserves and resources in the broader sense.

The course will further touch on the link between the PRMS and SAMOG code with the Canadian Oil and Gas handbook and the NI 51-101 standards of disclosure for oil and gas activities in Canada.

The Petroleum Resource Management System (PRMS) and the United Nations Framework Classification (UNCF) are internationally used, while the South African code for the reporting of oil and gas resources (SAMOG) is more related to the South African investment market.

Fees

Fees: $640 + 15%

Includes: 3 coffee breaks, lunch, free WI-FI, and printed copies of the course material.

Limit: 25 People

Venue

ICE SC 04 | SAMOG Reporting Code, PRMS, and the UN Framework Code

Cape Town International Convention Centre

Convention Square, 1 Lower Long Street Western Cape

Cape Town, Eastern Cape 8001

South Africa

+27 21 410 5000

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Book your accommodations today and receive special conference housing rates when you book through Wide Africa.

Instructor

Short course block

Important Notes Regarding Short Courses

Short courses are limited in size and are reserved on a first-come, first-served basis and must be accompanied by a full payment.
If you do not plan on attending the conference, a US $30 enrollment fee will be added to the short course fee. This fee may be applied toward registration if you decide to attend the conference at a later date.
A wait list is automatically created if a short course sells out. AAPG will notify you if space becomes available.
Before purchasing non-refundable airline tickets, confirm that the course will take place, as courses may be cancelled if undersubscribed.
Please register well before the deadline of 12 September 2024. Short course cancellations due to low enrollment will be considered at this time. No refunds will be allowed on short courses after 12 September 2024
We will continue to take registrations for short courses not cancelled until they are either sold out or closed.
Courses will be held in the Oman Convention and Exhibition Centre unless otherwise indicated. Participants will be advised via email of the specific location approximately two weeks prior to the course.

Cancellation Policy

Cancellations can be made by contacting ICE Registration on or before 12 September via email at [email protected]
Cancellations received on or before 12 September will receive a refund LESS a US $75 processing fee.
Refunds will not be issued after 12 September or for “no shows.”
You may substitute one participant for another.