He manages the venture and reports to the other, nonoperator participants.

Select one:
a.
engineer
b.
nonoperator
c.
operator
d.
field supervisor

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SFAS statement number which requires supplementary disclosures of oil and gas
producing activities.

Select one:
a.
SFAS No. 19
b.
none of the choices
c.
SFAS No. 25
d.
SFAS No. 69

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It is required to retain rights to unproved properties are charged to expense.

Select one:
a.
equipment costs
b.

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 lease acquisition costs
c.
carrying costs
d.
leasehold costs

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A nonoperator should develop a control procedure for reviewing the joint operating
statement

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a.
engineer
b.
operator
c.
field supervisor
d.
nonoperator

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In what SFAS statement number recognizes that other methods may be appropriate.

Select one:
a.
none of the choices
b.
SFAS No. 19
c.
SFAS No. 69
d.
SFAS No. 25

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 Check

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Specialists called _________ may be used to obtain lease rights .

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a.
field supervisor
b.
landmen
c.
engineer
d.
nonoperator

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Expensed by complex depletion deduction that, for independents, can exceed
accrual costs.

Select one:
a.
lease acquisition costs
b.
equipment costs
c.
leasehold costs
d.
none of the choices

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A well drilled within the proved area of an oil or gas reservoir to the depth of a
stratigraphic horizon known to be productive.

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 Select one:
a.
development well
b.
exploratory well
c.
reservoir
d.
none of the choices

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_______________ are those on which no economically recoverable oil or gas has been
demonstrated to exist.

Select one:
a.
exploration and development costs
b.
unproved properties
c.
equipment costs
d.
lease acquisition costs

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gives 0.67/1.00.
A well drilled to find and produce oil or gas in an unproved area, to find a new
reservoir in a field previously found to be productive of oil or gas in another
reservoir, or to extend a known reservoir.

Select one:
a.
development well

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 b.
reservoir
c.
none of the choices
d.
exploratory well

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