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Gold/Mining/Energy : Teton Petroleum (TTPT) -- Russian Oil -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (88)	5/8/2003 1:45:59 AM
From: baystock	Read Replies (1) \| Respond to of 115

<Marathon Oil just offered $275 M to buy a privately held US-based Russian oil company called RMOC, and they produce about 15,000 bopd.> I don't know what the going rate for Russian oil reserves currently is, but assuming it is around $2 a barrel for oil with access to export pipelines, RMOC would have had to have 100 million+ barrels of oil reserves. Teton I think has only around one third of these reserves, so they will need to triple their reserves in order to achieve a comparable valuation to that of RMOC.