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Gold/Mining/Energy : American International Petroleum Corp
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To: Laserbones who wrote (4011)10/24/1997 5:27:00 PM
From: Cathi Wierzbicki  Read Replies (1) of 11888
 
Greg:

(1) If proven reserves go for approximately $6 per barrel and "potential" reserves go for about fifty cents, and

(2) There are 1.1 billion "potential" barrels in the Begash area of the concession and Chikaduk is supposedly much larger and believed to contain significantly more oil, then

How do you arrive at the conclusion that a major would "save (only) a few hundred million" by buying before the concession had been "proven?"

I would appreciate any clarification you could provide.

Thanks.

Cathi
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