MATH METHOD AIDS EXPLORATION RISK ANALYSES

Richard A. Box British Gas Houston Combinatorial mathematics has generally not been used in the petroleum business-other than one oversimplification known as "Gambler's Ruin"-because its complexity made it impractical for humans and computers. The present method is quite practical on mainframe computers, if it is possible to cluster the data as it is in most real life situations. The method calculates a histogram showing the distribution of financial outcomes possible from any portfolio of

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