ARHT Media Inc V.ART.H

RE: Keep your eyes open

[Baxter4]

If goofy wants to keep stating I'm alkhor under another alias, so be it. I could care less and actually get a good chuckle every time. But he may want to do a bit of research into Yikes1 if he really thinks he is Sherlock Holmes.

What I do care about is the misinformation he spreads about Vast and Westernzagros. First you have to ask yourself, if he thinks Vast is worth only 17 cents, why does he have to keep posting on this board. Is he trying to save everyone from themselves? I doubt it. Why does he only post on the VST and WZR boards if he does not own any shares of these companies? Before that he posted solely on the Oilexco board for years and I doubt he ever said anything good there either. He either is a professional basher or he just gets his kicks pissing people off by trying to destroy their dreams. He is good at doing that which is why he is so dangerous.

As for the price of 2P reserves in the ground, he bases his 2P reserve  price of $4/bbl on a 2008 acquisitions and mergers study stating $5.38/bbl and then discounts the value then as oil prices were higher back then. Myself and others on this board have published the 2009 acquisitions and mergers study where 2P reserves were worth $14.40/BOE. Which one is right? They both might be as neither study did not mention where the A&M were. Properties in North America are worth much less per barrel than properties in the Middle East. This is purely due to North American wells producing much less per well than other places in the world. It is much cheaper to develop one well in the Middle East than it is to develop 200 wells in North America for the same production. In fact P1 reserves (developed and producing) in North America were worth only $14.10/BOE, less than worldwide P2 (probable) reserve price. A well that is developed and producing is P1, not Probable P2 reserves. Goofy knows this but it hurts his arguments if he ever admits it.

I am not buying or selling VST or WZR these days. I have sufficient shares in both that I am comfortable with knowing there will be either a very good return or a dry well. If I sound like I am promoting either one, then it is because I am excited about the potential. I am not selling, and that is guaranteed.