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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (23015)	5/26/2003 11:05:14 AM
From: wildandwonderful	Read Replies (1) \| Respond to of 206209

Ed: Thanks for your reply. I briefly looked into CRZO, they said they have 250 drillsites. Their average working interest is 50%,and odds of them hitting a commercial well is 50%. That leaves them with the equivalent of 62.5 wells. 50% of that will only breakeven, so now you have 31.25 wells. Take override of 20%, CRZO share 10%,leaves them with 28.125 wells. If we take operating expenses,which is around 25-30%, leaves very little for investors. This is one of the reasons I try to avoid small oil and gas companies, the odds of them really making any money is very small.