KOB.TO - East Lost Hills & GSJB joint venture Message Board

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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture

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To: grayhairs who wrote (12992)	12/2/2000 12:25:35 PM
From: MIRU	Read Replies (2) of 15703

Dear GH The news on possible production rate in #2 is very encouraging, if they can do it, because a faster rate increases the current value of the same reserves. My "back of the napkin" figuring values PYR, for example as low as $13 or as high as $40 depending on production rate, but with the same reserves. (very, very rough estimates no doubt) On another positive note, it looks like standard practice to convert gas to oil at a 10 to 1 ratio. But things have changed and may even stay pretty much like we currently see. If so, a company with a 50-50 oil/gas reserve breakdown would be revalued upwards by 50%, using the same napkin. Also sincere thanks for your expert help in understanding this play. The "tuition" has been enough for several PhDs. Maybe we will get "reimbursed" and then some - quite welcome after all the frustration - I think we deserve it!

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