ARAKIS: HIGH RISK OIL PLAY (AKSEF) Message Board

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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)

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To: Razorbak who wrote (6136)	6/15/1997 3:00:00 AM
From: Tomas	of 9164

[OFF-TOPIC] Razorbak: <<US$0,03/bbl is pretty cheap oil. What's the problem>> US$0,03/bbl is the market value of Vostok Nafta's recoverable reserves (the Russian average is US$0,15/bbl, the Western World average is US$6/bbl). Vostoks value per produced BOE is US$2,5 (compared to the Russian average of US$6,9, and US$123 in the West!). Vostok is an investment Co., they own shares in 15 Russian oil (and energy) companies. The oil is concentrated not to Siberia, but to the western (European) part of Russia. According to Adolf Lundin there's no specific problem, it's just cheap... But of course there's always a general risk and a lot of problems in connection with Russian companies. But what a potential! There are still a lot of small, extremely cheap, Russian companies just waiting to be discovered by foreign investors. Oil companies constitute almost 50% of the Russian stock market! Your Man in Sweden

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