Click on Desirable Slide


Slide 2:
Main Features

Slide 3:
Options in Exploration & Production

Slide 4:
Exploration & Production

Slide 5:
Types of Uncertainty (1)

Slide 6:
Technical Uncertainty at Appraisal Phase

Slide 7:
Types of Uncertainty (2)

Slide 8:
The Cost Benefit Balance of Waiting

Slide 9:
Economic Analysis and the E&P Phases

Slide 10:
Development Phase

Slide 11:
Equation of Undeveloped Reserve (F)

Slide 12:
"Timing": Interactive Real Options Software

Slide 13:
Undeveloped Reserves x Oil Prices

Slide 14:
Threshold for an Immediate Investment

Slide 15:
The Effect of Cost Uncertainty

Slide 16:
Chart of the Effect of Cost Uncertainty

Slide 17:
Exploratory Phase

Slide 18:
Superficial Evaluation of a Prospect

Slide 19:
Sequential Investment Option

Slide 20:
Prospect Considerating the Simulated Branches

Slide 21:
"Bad" Branches Pruned (1)

Slide 22:
"Bad" Branches Pruned (2)

Slide 23:
Prospect Considering the Active Management Gain

Slide 24:
Active Management Gain

Slide 25:
Binomial Diffusion Process

Slide 26:
Binomial and Risk-Neutral Valuation

Slide 27:
Exploratory Phase with Strategic Interaction (1)

Slide 28:
Exploratory Phase with Strategic Interaction (2)

Slide 29:
Game Theory and the "Drilling Match"

Slide 30:
Payoffs from the Drilling Game

Slide 31:
Game Tree (One Step) from the "Drilling Match"

Slide 32:
Decision Rule: The Game Threshold q*

Slide 33:
Bayesian Method (Conditional Probability)

Slide 34:
Bayesian Method: Prior Distribuition

Slide 35:
Payoff 2 and the Backwards Calculus

Slide 36:
Conclusions (1)

Slide 37:
Conclusions (2)

Slide 38:
Conclusions (3)

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