Tracer Petroleum (TCXXF) Message Board

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Gold/Mining/Energy : Tracer Petroleum (TCXXF)

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To: Florida Cracker who wrote (877)	12/11/1998 12:43:00 AM
From: Saracen	Read Replies (1) of 1261

You have pointed out a further "Catch-22" to this deal: assuming that they spend the $2 million and prove up more reserves, they will then be stuck paying a further $1 per proven barrel to the group they did the deal with, for every additional proven barrel beyond 2 million barrels. And this does not include any further development costs for these additional barrels. I think that they could have negotiated a much better deal. But this is probably hard to do if you have no money. Which brings up a good point - where are they going to get the $2 or $3 million, or whatever it ends up being, to ultimately do this deal?

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