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To: kennbill who wrote (9961)6/8/1998 11:19:00 PM
From: jhild  Read Replies (4) | Respond to of 11850
 
Property is bought based on value in the ground. Considerable value can be added by extraction.

Let's take a simple example: I buy some land with $200M in reserves. I spend $200M to get those reserves out of the ground and to market. I am, left with $0 for my effort. So let's see, that makes the land I bought worth $200M does it? Hmmmm.



To: kennbill who wrote (9961)6/8/1998 11:21:00 PM
From: Mr. Forthright  Read Replies (1) | Respond to of 11850
 
Don't play Mr. Expert. If a public company buys something at fair market value TODAY, why is it worth more TOMORROW? Extraction take time and $$$$$. If you buy producing properties you pay TODAY for TOMORROW's discounted cash flows. If you buy a property that you hope to put in production you will need to invest significant $$$ TODAY to earn an income stream in the FUTURE.

Simple isn't it?


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