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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Razorbak who wrote (37681)2/18/1999 1:25:00 AM
From: BigBull  Read Replies (1) of 95453
 
Razor: The article you posted says -

“But much remains to be done by the industry. Crine, an industry body, believes offshore life-cycle costs - including finding, development and operating costs - can be cut from $12 a barrel to $8 by 2002. In the early 1980s they were $22.”

Well it's not 2002, and those cost reduction estimates are just that, estimates. Neither of the analysts are suggesting the current cost of production is anywhere near $7.00 only that they might be sometime in the future. And even that estimate is probably dependent on further capital expenditures.

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