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Gold/Mining/Energy : Ultra Petroleum (UPL)
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To: upultra who wrote (4081)4/29/1999 3:45:00 PM
From: Traveling Man  Read Replies (1) of 4851
 
All,

Here are some specific numbers concerning the recent purchase by Williams gas of some of MCN Energy's Jonah field assets. First of all, MCN receives $106 million(I assume US,it's not noted as Canadian in the article). In return,Williams receives the following assets:

184 billion of proved reserves,in excess of 190 billion CF of low risk in fill reserves for future development drilling,~30 MMCF per day existing production and 192,000 undeveloped acres from MCN.The majority of acres are in the Jonah field.

Now, I don't know what UP's proven reserves are,I don't know what the current production is or even their total acreage in the Pinedale anticline. Someone else might want to help here to develop a potential
picture of what UP might trade for say $50 million,so they are capitalized for future development.

TM
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