RE: RE: RE: $ 40 BILLION VALUE FOR LFD....You are making this out to be a scam taxdemicco. You wouldn't have to do that if you were secure
in your investment.
Get this straight, oil reserves have value, prospective resource doesn't.
Therefore your 3 billion barrels is worth nothing... undeveloped 2P oil in the ground worth $4/bbl and
developed and producing worth about $15/bbl.
The reason for this is because Prospective Resource is undiscovered potential... undeveloped 2P oil in the ground
hasn't had the financial commitment of development, nor the historic reservoir performance... and developed and producing has been through development, with proven reservoir performance behind it.
Considering their severely lacking working capital position, this trades as if they've already discovered
half a billion barrels OOIP. That is not the buy of a lifetime because they haven't discovered anything.