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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: geoffb_si who wrote (2259)	3/8/2002 8:55:45 AM
From: TheBusDriver	Read Replies (1) \| Respond to of 39344

<<However, Liz is right that the O&G model is different in many ways>> Ok. Fair enough. The truth lies some where in the middle. Yes 3D is not cheap but it PAYS for itself by decreasing the number of 1.5M dry holes! A well producing 5000 BBLS a day, even 500 BBLS will pay that 1.5M back in very little time. (not many of these kind of wells left in the US!) This is the kind of return on capital the majors want and is driving force in buying proven reserves instead of exploring for them. Thanks for the post. Good info! Wayne