HM
In case of SNE, Cairn has quoted ERCE's certified mid & high estimates of 2740 & 4150 mmbbls Oil In Place.
These have been rounded off regularly & quoted as 3 & 5 Bil instead of the 2C 563 & 3C 998 mmbbls.
The 520 series sands are thicker & have a better recfac then the thinner 400 series Sands. In an oilfield, RF can improve via an increase in number of wells, spacing, drainage area/well, placement of injectors to push the oil & Well trajectory (eg: Extended Reach Horiznt'l Wells), hence the high OIIP.
For now though Phase-1 targets 240 mmbbls oil, Ph-2 targets 130 mmbbls, Ph-3: 120 mmbbls from a number of wells with Development drilling scheduled to start in 2020. I think JV should lock in atleast 2 Rigs for the full 26 wells planned for Phase-1 to take them to Production. For now Securing project finance should b their one of their priorities I think.
cheers.
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