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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Bob Swift who wrote (62279)3/31/2006 5:08:38 PM
From: Ed Ajootian  Read Replies (2) of 206272
 
Bob, AEN -- Slow down there cowboy! The PNG government can back in for a 22% interest on any discovery. AEN has a 35% working interest in the well. I would use $15/bbl. for the value of a barrel of oil in the ground over there, given the difficulty in getting it to market. So we end up a potential value of (150 M x 78% x 35% x $15) divided by 23 M shares, or $27/share.

Still pretty mind-boggling potential, but not quite $430!!
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