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Gold/Mining/Energy : Petrokazakhstan Inc. -- Ignore unavailable to you. Want to Upgrade?

To: cooliemon who wrote (1647)	5/11/2001 11:21:06 AM
From: pz	Read Replies (1) \| Respond to of 2357

Hurricane is now trading above the offering price. Did I miss some news?

To: cooliemon who wrote (1647)	5/13/2001 10:01:01 AM
From: forecaster	Read Replies (1) \| Respond to of 2357

Coolie: Reserve Evaluation Update Commissioned. Excerpt from Friday's press release: "Further to the January 2001 independent reserves report by McDaniels&Associates Consultants Ltd., Hurricane has commissioned an update report taking into account new development plans and the East Kumkol discovery. This update should be available shortly." * The January 2001 report evaluated the reserves at US$2.5 billion. (Escalating price assumptions, present worth value at 10% discount) * This figure represents roughly US$29 per fully diluted share. * Both items in the commissioned update, i.e. new development plans (lower discount) and East Kumkol discovery (higher reserves) will have positive effects and drive the evaluation above US$30. * I don't know what will Peters&Company use as a yardstick for valuation of reserves, but shouldn't this report be the first thing to look at? What other purpose would it have? * I have also noticed a repeated reference to the "local Grabens", presumably a larger and deeper geological trench formation, possibly present under the entire Kumkol basin. Do we have any more concrete evidence for this prospect, from seismic data or better, from the currently producing deep wells? I remember that the slide show accompanying the 1999 Annual Report on the HHLA website mentioned possibly "sitting on 3 billion barrels". Marlo still has it. Forecaster