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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: isopatch who wrote (79234)11/16/2000 4:05:06 PM
From: jim_p  Read Replies (1) of 95453
 
Iso,

10% was the norm for exploration success 10-15 years ago. Today 60-70% is considered good. What I couldn't understand is why ESNJ would have increased production and a decline in annualized cash flow. Did they have bad hedges? As you know, exploration expenses are not included in the calculation of cash flow.

Jim
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