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Gold/Mining/Energy : Teton Petroleum (TTPT) -- Russian Oil
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To: Ed Ajootian who wrote (6)3/30/2002 12:29:19 PM
From: Crossy  Read Replies (1) of 115
 
Dear Ed,
thx alot for explaining all the issues that I raised in all detail (sorry if I took too much liberty at your precious time).

Also thx for linking Teton's last year's report. Immediatley downloaded it..

In the meantime I called their IR and found that Teton's current reserve is just on 7 wells drilled out of 40 possible. Using 75% success rate of drills (probably higher) this means ultimate reserves coul go up 4fold in the particular oilfield alone.

Thx for explaining fully the valuation process employed by O&G companies. I thought it would be that way but had no real clue. You closed all my "missing blanks" that I had in my mind on this matter. BTW - you cite the conservative PE firm that Teton uses in Russia. IS that the famous Gustavson company ??

thx again for pointing out Teton. I made quite substantial purchases and told all my friends about Teton. The IR firm feels that a move to the AMEX would make sense as soon as they qualify ($3 avg bid price if my memory serves me right). I watched HHLF in the last 18 months and see it more than triple. And HHLF was in Kasakhstan not in Russia so it is less stable. Also HHLF was more "expensive" wrt. valuation that TTPT.TO is now.. I have a related question regarding valuation of reserves which I will defer to the next post..

thx so much
CROSSY
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