text: **DEFINING RESERVES**
  Santos has in place an evaluation 
  and reporting process that is in 
  line with international industry 
  practice and is in general 
  conformity with reserves 
  definitions and resource 
  classification systems published by 
  the Society of Petroleum Engineers 
  (SPE), World Petroleum Congress 
  (WPC) and the American 
  
  Association of Petroleum 
  Geologists (AAPG). The definitions 
  used are consistent with the 
  requirements of the Australian 
  Stock Exchange Ltd (ASX). 
  
  forward. Santos reports reserves 
  net of the gas required for 
  processing and transportation to 
  the customer. Reserves reported are 
  based on, and accurately reflect, 
  information compiled by full-time 
  employees of the Company who 
  have the requisite qualifications 
  and experience prescribed by the 
  ASX Listing Rules.  **EXTERNALLY REVIEWED**
  **BOOKING PROCESS**
  Santos’ reserves processes and 
  procedures were reviewed by 
  independent expert, Gaffney, Cline 
  & Associates, and found to be 
  ‘appropriate to providing robust 
  estimates of Santos’ reserve 
  position in accordance with 
  international industry practice’. 
  Reserves are defined as those 
  quantities of petroleum which are 
  anticipated to be commercially 
  recovered from known 
  accumulations from a given date 