Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Dale Baker who wrote (118962)	3/13/2009 3:49:31 PM
From: Ed Ajootian	Read Replies (1) of 206092

Dale, one of the reasons I've sold most of my PRC is that I am concerned that they will have to write off all or virtually all of their Williston Basin PUD's due to the fact that those reserves are not economic at these oil prices. They may also have to take an impairment charge on the value of their unproved oil & gas properties for the same reason. I could well be wrong about this, I guess we'll find out in a coupla weeks. As far as I can tell, all of the old "rules of thumb" for valuing E&P's have gone out the window unfortunately. In the case of Baseline, I can't see how they will be able to get any financing at this point, given that they have not been able to so far.

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