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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (318)	7/29/1999 2:37:00 PM
From: Harold Engstrom	Respond to of 52153

Thanks, Peter, good thoughts. I like that approach.

To: Biomaven who wrote (318)	7/29/1999 3:14:00 PM
From: sim1	Read Replies (1) \| Respond to of 52153

>>Anyone know what wildcat oil well success rates are?<< Wandered over to the SI oil patch and found this, apparently taken from an analysis of Anadarko Petroleum Corp by Paine Webber. Don't know if this is typical for their industry or not. APC has "an enlarged exploration lease inventory in the vicinity of it's Alpine field discovery in Alaska as the result of the recent National Petroleum Reserve-Alaska federal lease sale". The recent GOM sub-salt discoveries added 20% to APC's proved reserves and with expanded drilling could add even more to proved reserves. 4 additional sub-salt prospects have been slated for drilling in 1999. These projects are still considered "wildcat exploration prospect that management assigns no more than a 35% chance of success." Message 10040446