Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Ed Ajootian who wrote (82951)	12/29/2000 1:36:30 AM
From: dfloydr	Read Replies (1) of 95453

Ed, the president of one small E&P Co. told me that they were required to mark reserve values down when prices went down, but they are not allowed to mark them back up when prices rise. Of course new finds will be tagged at present price levels. When buying reserves at today's prices, the buyer places them on the books at today's prices even though the seller was not allowed to do so. May be the motivation behind some of the buying and selling of reserves we have seen? Can anyone make a more definitive statement on what FASB rules will be doing to PV10 numbers?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next