储量交易法在储量价值评估中的应用探讨

Discussion on applying the reserve transaction comparative method in reserve value assessment

储量交易法是根据类比的原则对勘探项目储量价值评估的一种方式。储量交易法主要依据公平市场的储量交易数据。在价值评估中有三点需要注意:第一,分析已交易项目真实性。在分析已交易的项目时,需要寻找真实的市场交易,区分储量价值和其他资产价值,核实真实的储量;第二,分析类比项目差异。在分析类比项目时,要注意不同项目不同级别储量的储量换算,油藏地质差异,合同财税差异,时间差异,相关权利义务差异等;第三,注意储量价值调整。根据收购公司的技术优势、规模效应、公司战略等,对储量价值进行适当的调整。尽管目前储量交易法的研究还有很多不完善的地方,但考虑到海外项目的特殊性,储量交易法是一种值得研究和探讨的海外勘探项目价值评估方法。

The reserve transaction comparative method is an approach to reserve value assessment for oil & gas exploration projects by principles of analogy. The Study of this method relies mainly on reserve transaction data in a fair market. Three aspects should be highlighted during value assessment. Firstly, analyze the authenticity of traded projects. When analyzing transacted projects, it is necessary to find authentic market transactions, distinguish reserve value from the value of other assets, and verify actual reserves. Secondly, analyze any discrepancies in comparable projects. When analyzing comparable projects, note reserve conversions for different reserve grades in different projects, geological differences in oil deposits, differences in contracts and taxes, time differences, differences in related rights and obligations, etc.. Thirdly, pay attention to reserve value adjustment. Reserve value should be properly adjusted according to technical advantage, scale effect and corporate strategy of companies possessed through acquisition. The current state of reserve transaction comparative method research is far from mature ; however, in light of the special features of overseas projects, this value assessment tool for international exploration projects is worthy of research and discussion.