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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (82933)12/28/2000 6:46:56 PM
From: Ed Ajootian  Read Replies (3) of 95453
 
Big Dog, SEC PV10. The SEC PV10 figures for 12/31/00 will be totally meaningless this year, since they will have to reflect what current natgas prices are (i.e., ~ $10) vs. what they will more likely average out to for the time it would take to produce out the reserves (you make the call). As we all know, SEC PV10 is a key metric used to corroborate values of E&P companies that might have been arrived at from a cash flow or other similar approach.

Was wondering what you plan to do with respect to trying to somehow adjust the reported numbers for more realistic numbers, and if so, how one would do this.

Also, I wonder whether the O&G trade associations should agree to some kind of supplemental disclosure this year, where, in addition to everyone putting out what the SEC PV10 figure is per strict SEC rules, they also disclose what it would have been if Nymex was, say, $4/mcf.

Would be interested in your or anyone's opinion on this.
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