It is important to remember that most labs use the D4739 protocol for TBN analysis, which gives a reading 2-3 lower than the D2896 protocol, only used for new oil.
Example: a VOA sample of Delvac 1 LE 5W30 came out at 9.6, even though the mfg says it is 12.6. Another example: VOA of Delvac 1 SHC 5W40 was 14.0, even though Mobil says it is 16.0.
An "apples and oranges" situation!
Charlie