374 



judgments as to the probability of each prospect lacking hydrocarbons. 

 If a discovery was made in one of the prospects being considered, it could 

 exceed the average amount previously estimated to exist in the area under 

 consideration. In any event, a discovery would result in a reassessment 

 of the risk associated with other prospects and a new assessment. 



This concludes the statement. I would be pleased to answer any questions 

 that members of the Subcommittee might have on this issue. 



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