@RISK can be very effectively used to forecast the production of oil and gas reserves about which little is known. This is a simple model forecasting production for a particular oil well. The estimated reserves within the well are uncertain and are represented with a Lognormal distribution function. The mean is 500,000 STB and the standard deviation is 50,000 STB.
The output in the model is the NPV of the reserves for the first 10 years of production. Other factors considered include the decline rate, the gas-oil ratio (GOR), the prices of oil and gas, as well as the rate of increase of the prices of oil and gas. The only input factor that contains an @RISK probability distribution function is reserves, but you could make the model more realistic by using distribution functions to describe the decline rate, GOR, price of oil, etc.
PALISADE INSIGHT 