In both 1987 and 1988, the company managed to discover so much oil and gas that its proved reserves rose even before including acquisitions.

In the report, the company said that the world has as many as 1,238 billion barrels of oil in proved reserves [source: BP].

"They're not the only company that got optimistic on proved reserves."

The proved recoverable reserves are around 10 billion tonnes.

The plant consumes coal-field with proved reserves 3,7 bln t, which is as close as 14 km away.

At the end of 2012, the firm reported proved reserves of 4,796 bcfe (billion cubic feet equivalent) of oil and gas combined.

The acquisition added over 10 million boe of proved and probable reserves and raised company production by about 5%.

The program applied to a different, less probable category of reserves than the publicly reported "proved reserves," which have been downgraded.

Oryx agreed last week to pay $1.31 billion to acquire 283 million billion barrels of proved reserves from the much larger British Petroleum Company.

The proved reserves at the Long Lake site are 310,000,000 bbls.