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

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To: CommanderCricket who wrote (123971)	9/2/2009 2:18:59 PM
From: Salt'n'Peppa	5 Recommendations Read Replies (1) of 206093

"The well cost them 10x more than buying a company like NPE with billion bbls of profitable bitumen resources if crude can stay above $65." It was likely around $200-250 million for BP to drill that discovery well. Surely you aren't suggesting that NPE can be bought for $20-25 million. NPE have around 100 million shares (incl. options & warrants) and trade at $0.50. With premium, they might get it for $70MM. Care to guesstimate the cost of purchasing and then producing NPE's bitumen to the tune of 200k bbls/day? My guess based on CNRL, PetroCanada, etc. is about $10 billion. NPE is "estimating" 2-3 billion barrels of bitumen in-situ. I think you'll find the deep water option is cheaper. Why the blinders, CC? You seem to be down on every positive development in the oil industry. S&P

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