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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: RCMac who wrote (21188)	9/9/2006 5:07:47 PM
From: technetium	Read Replies (2) \| Respond to of 52153

From your oil link: "...the announcement is reminiscent of the Mexican "huge oil discovery" announced last year, of a possible 10 billion barrels, which was quietly revised this year to around 43 million barrels, a downward revision of 99.57%. This similar "discovery" was made in Mexico last year a few months before the Mexican parliament was to vote on Pemex (state oil co)'s budget and rights to expand drilling. This illustrates the potential political pressure to announce oil and gas discoveries. 8. The wells are estimated to cost between $80M to $120M each, starting in 2010, and a completion time of 60 days. Payback period with gas at $7 is about 3 to 5 years (by my rough calculations). Although it is likely that some new technical issues will be likely be needed to be resolved as the depth is approaching record levels." The reserves could be much smaller than announced, and it will be years before they come online. This isn't a quick fix. Although it's nice to have in America's backyard.