WISR Ltd V.WZR

RE: RE: RE: RE: RE: Fact on Good40

[Baxter4]

Here is a link to the 2009 reserve sales figures. They show a much more realistic value of $14.20 for P2 reserves. plus the fugure includes natural gas as well as oil. G40 discounts a low number based on North American reserves where the average well is about 10 bbl/d. Compare apples to apples.

https://www.redorbit.com/news/business/1832426/global_oil_and_gas_upstream_ma_2009_review_new_assets/index.html

The important paragraph is:

Oil and gas valuations globally, based on an evaluation of the $100 million plus deal market and prices paid per 2P entitlement reserves, ended 2009 at the $14.40 per BOE level, up 40% from a trough number of $10.20 per BOE seen in Q1 2009 but down from the $20.90 per BOE peak seen in Q1 2008. In the U.S., valuations for 1P oil reserves ended the year at about $14.10 per barrel, down 25% from the 2008 peak. For 1P gas reserves, values ended 2009 at about $1.80 per Mcf, down 40% from the 2008 peak