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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: SofaSpud who wrote (14079)	2/7/2001 12:31:07 PM
From: MIRU	Respond to of 15703

Hi SofaSpud - PYR has a 12.1193% Working Interest both before and after payout. However, they only have a 9.388% Net Revenue Interest, because, I assume, They have to pay a royalty/override to Chevron, I think, of about 22.537%. So you can take production times price and deduct a quarter and multiply by .121, or multiply the whole thing by .094. If this math is not correct, I'm sure I'll hear about it ASAP, but I own PYR and would appreciate any correction.

To: SofaSpud who wrote (14079)	2/7/2001 12:33:38 PM
From: Tommaso	Respond to of 15703

So a quick notepad guess is that BKP #1 could be worth anywhere from about 25 to 50 cents a share income for PYR. To extrapolate for other wells would be self-deceiving, but with the prospective P/E of the company already getting down to about 30-50 on this one well, it is becoming a more investment-quality stock. I realize some of the other JV companies are even better, but PYR seems to have been what got this whole thing moving. Or did it? Also, it looks like PYR has dibs on a lot of additional likely drilling areas. It might be able to hire its own rigs without splitting profits.