Exploitation Value Research Of Low-grade Reserves

This thesis aims at exploring a method of value evaluation which is suitable for the characteristics of low-grade reserves and arriving at scientific and practical results of value analysis,thus provides some support for the decision making of the exploitation of these reserves.This thesis intensively analyzes the status quo and the development of the value research of the oil reserves. Combining the division and characteristics of low-grade reserves,choosing the real option method as the main method,sets up a value research system of the low-grade reserves. This thesis first give the formula of the real option method, then by accounting for the net present value to obtain the intrinsic value of the low-grade reserves. By accounting the option value, ultimately receive the full value of the low-grade reserves, and combined with the results to make an sensitivity analyze, form a complete evaluation system. In this paper there is a demonstration research of the tuo-21 low-grade reserves, the research is to make a economic evaluation of it, and obtain results. The thesis gives some analyze to make sure which element is the most sensitive, and ultimately found the most sensitive factor were the oil prices and production. The thesis gives some measures to make the exploitation more effective by combining the results of the research. Finally, to be a stander-by, proposes some advices in connection with the problems in management, the system of organization and the policy.