TSXV:ART.H - Post by User
Post by
GreatSwamion Jul 09, 2010 2:54pm
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Post# 17257982
The reason...
The reason......i have not replied is simply because the question is not worth replying to.
I made myself quite clear - even if in my own inimitable long winded fashion - that the question itself is of the kind: "How long is a piece of string?" Or perhaps more that of the deniers of Evolution who keep insisting that there are "Gaps" in the fossil record. Of course there are gaps in the fossil record - and every time something is discovered that bridges that gap we end up with situation of having two new "gaps" to fill. It is a futile game - a sort of Zeno's Paradox if you like.
There is no clear answer to your question Good40 - as you very well know that no matter what number is given - there is some data somewhere that refutes it...
I am off for the weekend - time to go visit family. Seems like a generally good day on most things on my screen.
The comment about whether oil in the ground is less valuable when it is inferred than when it is proven present is banal. What the price of oil is today is also similarly irrelevant. The real issue is that once oil is proven in place - and a minimal Reserve size is determined by sound reservoir engineering principles - the SP will reflect that change from a Potential Resource value to a Proven + Probable + Possible one - and that my friend will be the game changer here.
Since we are dealing with something that will take a few years here to develop and bring into a producing oil field category what we really want to know is what that oil will be worth to someone facing severely growing demand against a background of rapidly depleting supply at that time? And again - how long is that piece of string?
Have a great weekend all.
GS