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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Goldberry who wrote (8562)	11/28/2001 4:18:07 PM
From: stan_hughes	of 24921

Graham - Quick from the hip analysis says you divide the $62 million by the 7.6 million BOE and get ~$8.15 a barrel in the ground, reportedly 85% proven. That price is no steal, but it isn't godawful either. Another quick metric is to divide the $62 million by the daily production rate of 1,720, which yields an acquisition price paid of about $36,000 per flowing barrel. I'd say that's a little rich for the times myself, but other relatively recent deals have been done higher. Be interesting to see what the market thinks of it tomorrow.

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