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

To: Eraser05 who wrote (9593)	5/8/2006 1:39:45 PM
From: Taikun	Respond to of 25575

Are you sure those are P+P? They use N43-101, but call the reserves "Discovered Resources Estimate". Using their P50 they report 895m bbls, their best estimate. To be fair, they have purchased new leases and also own significant coal assets. I understand SYN is undertaking a drilling program to put those reserves in the P+P category. In their Q1 06 report SYN says they are undertaking drilling to "increase the certainty of resource quantity estimates" synenco.com I think at best right now those assets should be valued in the $0.90-$1.20 range. I own SYN, and believe they have very good prospects for upside, partly as the JV means a suitor cannot get access to a 100%WI (as in BVI's case). Of courseit doesn't preclude China's SNP from buying the remaining stake although I think that is highly unlikely for a variety of political and operative reasons.