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Gold/Mining/Energy : Oil Sands and Related Stocks -- Ignore unavailable to you. Want to Upgrade?

To: junkets who wrote (6553)	2/3/2006 1:56:53 PM
From: Taikun	Respond to of 25575

You can buy 25000 acres of oil sands leases for $100,000 to $1m. Then you spend a few $m on drilling and quantify the resource. Then you shop that to partners. Bottom line:Big boys don't take as much risk. Perfect example is UTS. UTS had 60,000 acres or so, spent on 300 drills, quantified at almost 3bn bbls and landed PCZ as a partner who ponied up $1bn. UTS never spent close to that much. Why doesn't PCZ go to the auctions themselves and drill the land? Corporate culture? Inability to take small risks? Want to use cash in place of risk taking?