This is an update of the 1975 best selling text , which became the standard reference in the field. This book introduces the reader to ways of applying risk & decision analysis of investment decisions under uncertainity in petroleum exploration .
Topics covered in the book represent a composite of evaluation practices & probem solving approaches used throughout the world . Several ideas & concept were forst published in the first edition of this book .
Decision analysis methods apply to any type of business investment decision . The emphasis in this book is on quantitative methods useful in petroleum exploration decisions. The book will be of special interest to anyone involved in the evaluation of property ,
A mathematical or statistical background is not required to follow the practical , applications oriented discussions.