TSXV:ART.H - Post by User
Comment by
Baxter4on Jun 08, 2010 9:18pm
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Post# 17170991
RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: Pretty
RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: RE: Pretty"You continue to use $14/bbl for value... but this is for proved and producing oil reserves. However, undeveloped oil in the ground is worth less than $4/bbl. Don't confuse the two.'
I'm afraid you are the one who is confused. The $14.40 value is for the P1 plus the P2 reserves, or to put it in terms you can ignore, the $14.40 is for the proved and producing oil reserves (P1) plus the probable reserves (P2). You constantly try to state P2 are for proved and producing reserves and this is just an out and out lie. Why do you keep trying to mislead us????
I will give you that undeveloped that the potential reserves (P3) are worth $4 and at the moment that is all Vast has, potential reserves. When this well finds the reserves they are looking for, then the category of reserves goes up and to determine the value, the actual M&A reserve value if $14.40 must be used for any economic analysis.