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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: ChanceIs who wrote (63485)4/27/2006 7:06:18 PM
From: Ed Ajootian  Read Replies (1) of 206302
 
Chancels, great article, thanks for sharing it. A lot of people yank on Yergin and CERA because they are so "anti-Peak", but the guy is a treasure-trove of info and also has a good way of expressing things so laymen can understand them.

Hopefully the SEC can see fit to change these rules. The offshore companies would certainly benefit, but also the "resource plays" would benefit. Right now the SEC only allows stepping out 1 well-space from an existing proved location, irrespective of how much evidence there may be that acreage further away than the next well-space would also be producible. This is not how the companies see things in these resource plays. There have been tons of transactions where the buyer paid prices for the undrilled acreage that only would have made sense if he, for his internal valuation metrics, was treating that acreage as being essentially proved up.
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