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Gold/Mining/Energy : American International Petroleum Corp
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To: qdog who wrote (4091)10/25/1997 9:31:00 PM
From: Cathi Wierzbicki  Read Replies (2) of 11888
 
Qdog: Wasn't much of the Soviet seismic they are currently evaluating done many years ago? The Soviets didn't employ 3-D seismic at that time, did they?

I understand your point about increased reserves with better seismic and production methods not being "a given." I imagine nothing in the oil industry is. But, I would interpret that article to suggest that increased reserves are becoming common. Not certain, mind you, just common...:-) So isn't it just as possible that this concession could turn out to be more promising that the initial dated seismic suggests as it is that the "recoverable" oil will only turn out to be 50% of "proven" reserves?

BTW, I would appreciate knowing if you have ever heard of an oil company making a deal on a concession BEFORE reserves have been "proven?" I don't recall you having said anything on this subject.

Thanks for any info you have on this.

Cathi
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