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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: mike smith who wrote (6367)5/2/1999 11:43:00 AM
From: Richard Saunders  Read Replies (1) of 24892
 
Mike/ generalities. Noticed a couple of your recent, and well-researched, replies touched on reserves and reserve life, etc. I realize every situation is different however what sorts of rule-of-thumb do you look at re: RLI when glancing at a potential investment situation? On the one hand a low RLI would tend to put some pressure on the situation to make some reserves appear however at some point too large a reserves base could possibly be argued as inefficient use of assets. I do agree that 4 or 5 yrs. seems to be running quite skinny....... Other generalities......... general & admin. I've heard it said before that the bare-bones minimum for running a Alberta-listed situation with a staff of 2 and possibly out-source contracting is somewhere in the $25K - $30K per month range. Things like operating and finding costs can be easily obtained thru industry avewrage surveys. G& A avg.'s are also obtainable on an operating barrel basis however are there any rules-of-thumb that you use for possible flags when looking at micro-jrs.? Appreciate detail you've posted and also found the name mentioned re: engineered reserves useful. Are there other names of firms that you (recognizing opinion status) have pegged re: aggressive or conservative? Thanks again.
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