American International Petroleum Corp Message Board

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Gold/Mining/Energy : American International Petroleum Corp

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To: faris bouhafa who wrote (336)	7/15/1997 1:07:00 PM
From: Razorbak	of 11888

Faris: Great post. Good to see you bringing some of that Double Day DD over here to the patch. There is definitly oil in this concession. That's not necessarily true. Sure Kazakhstan has tremendous reserves, but no one has yet proven up any reserves on AIPN's concession. This must be done with a drillbit. "Possible" or "potential" reserves carry a classification of 10% probability of commercial recovery in strict industry parlance. ("Probable" reserves = 50%, and "Proven" reserves = 90%.) Even if they are forced to give away the store and only get to retain 1% of 1.1 billion barrels that would still put the stock much higher than it is today. If you assume only 1% of 1.1 billion bbls (something you suggested you'd be happy with), that gives you 11 MMbbls X $3/bbl = $33 MM, only about 1/3 of the company's $90 MM market cap at today's price ($2.5/share X 36 MM shares), and that's assuming the number of shares outstanding have not increased. This would be good to clarify. Hence my earlier question. Good questions, though! Keep it up. Glad to see someone is doing their DD. Razor

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