TSXV:ART.H - Post by User
Comment by
Baxter4on May 04, 2010 2:59pm
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Post# 17061759
RE: RE: RE: Seven month wait from spud
RE: RE: RE: Seven month wait from spudGoofy
In your last post you stated you know the value of oil reserves, yet you keep saying P2 reserves are worth $4/bbl for oil when myself and others have posted the actual reserve sale values for 2009 which valued P2 reserves at $14.40/boe (oil would be higher as $14.40/boe includes natural gas components). Why do you keep trying to mislead by posting low well production US numbers instaed of world numbers?
Here is the link to the actual 2009 reserve sales figures.
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