Prospector is a Probabilistic Volume Calculator that can be used for both Conventional and Unconventional Exploration Opportunities. It is a Stand-Alone Application that runs on PC’s with the Windows Operating System.

The principal design criteria of Prospector are based on a preference of simplicity over complexity and a preference of accuracy over (false) precision. The tool gives accurate answers while avoiding unnecessary complexity that might confuse the user. One important feature is to have all the input and output data visible on one page. The streamlined design results in a product that:

Is Simple: the user interface is kept simple, while all the complexity is hidden in the code.
Is Fast and Accurate: Get to the right answer fast; its intuitive design allows for a very steep learning curve.
Is Comprehensive: Form dynamically adjusts to multiple calculation Methods.
Gives instant output when input changes: Instant Feedback creates Insight (instead of confusion).
Reduced Chance to have (unintended) Errors:
- No hidden input, (all input is visible on one page).
- Visualize and Analyze input and output data instantly.
Facilitates the Auditing of Evaluations (what you see is all the input that resulted in the output).
Allows data can be Presented as it is Calculated, which is in an easily understandable way.
Facilitates Quality Control of Portfolio using Excel and ArcGIS.
Enables Collaboration and Quality Assurance through instant evaluation-sharing.
Can be used as a Stand-Alone tool, ability to use on Business Trips and Data-Rooms.

In order to get everything on one page the tool has to remain simple (but not too simple). The criteria for how much simplification is permitted are related to the accuracy of the outcome: If the accuracy is negatively affected by the simplification it is regarded as too simple, if not than the simplification is regarded permissible.

A Portfolio Database is used to store and retrieve data. This database is an Excel Spreadsheet, the advantage of this design is that the user can:

Edit/analyze/visualize etcetera the data-records using standard Excel tools.
Add information to the data-records that are not standard in the Hydrocarbon Resource Calculator.
Link the Excel-Table to GIS-software for spatial analysis of input and output data.

User Interface

The User Interface of the Hydrocarbon Resource Calculator consists of two parts:

The Prospector Form, which gives access to all the utilities that involve the resource assessment,
The Excel Portfolio Database, which is used to manage a database where you can save, edit and retrieve Resource Evaluations.

User Interface: GoExplore: Hydrocarbon Resource Calculator

The Form consists of a Navigation Panel (located at the top strip of the tool) and four data input and output panels, located below the navigation panel :

Meta-Data: Used to record meta-data related to the opportunity.
Volume: Used to calculate the Volumes of a Hydrocarbon Resource. This panel consists of input fields, output fields, graphs and has full capabilities to analyze and display the MonteCarlo Model.
Risking: Used to quantify the Risk of the Hydrocarbon Resource. This panel gives the option to select as Risking Scheme, define “Italian Flags” of each risk element and the individual Chance Factors. A “Bullhorn” plot is generated based on this information.
Cutoffs: Used to calculate commercial Cutoff Volumes and Cutoff Probabilities of the Hydrocarbon Resource.