Study on the Valuation Method for Overseas Oil and Gas Extraction Based on the Modified Trinomial Tree Option Pricing Model

Table 4

Decision points and their strategy space for overseas oil and gas extraction.

Stage	Decision point	Strategy space
Exploration	Before regional exploration	Begin, defer, abandon
	Before trap exploration	Continue, abandon
Development	Before drilling	Continue, defer, abandon
	Before completion	Continue, defer
Sale	Before production	Continue, defer, abandon