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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: xxreno who wrote (35521)10/5/2004 6:37:40 AM
From: Ed Ajootian  Read Replies (1) of 206325
 
Thanks xxreno et al, nice to see some interest in Interoil. I was wondering if I was gonna be the only sucker to buy that story! <g>

I would submit to you that Interoil is not all that risky a stock. They have a government-mandated lock on their refinery margins, just about guaranteeing that they will generate about $60 M/ yr. in EBITDA. Their debt service is pretty low, something like $10 M per year. So that leaves $50 M/year to put in the ground in their drilling program. In effect this is a perpetual call option on a world class group of oil prospects, with built-in financing.

Maybe I'm missing something, but I don't see a lotta risk in this.
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