Oil Sands and Related Stocks Message Board

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Gold/Mining/Energy : Oil Sands and Related Stocks

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To: FreedomForAll who wrote (7348)	3/2/2006 12:39:12 PM
From: Carpe per Diem	Read Replies (2) of 25575

7.5B BOE! Makes one wonder why oil majors spend $500K/day to lease a drilling platform to drill wildcat wells vainly searching for oil, when they could pony up cash and just buy land or other oilsand cos. The economics of "exploration" don't compare. In the last decade, you could list off conventional discoveries of this magnitude on one hand. Given, the SEC still doesn't consider oilsand deposits "official reserves", but at the end of the day if you can bring it to the surface, refine it and sell it for profit...who cares. Sooner or later the SEC will wake up. Kudos to Chevron Rinks

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