RE: RE: RE: RE: EOG versus HRT Blocks Dear Mr Dave444 hehe, i am gooing to answear in parts of your post as it was a bit of a read there.
I stated the odds were that the first wells would be dry, and that is simply elementary probability and the odds come straight from the technical reports prepared for the EOG and UNX for their respective properties. I do not see how telling the truth about probabilities straight from the technical reports can be misleading. I do not see any of the pumpers quoting anything from the technical reports other than the fact that some day a long way off and hundreds of millions of dollars off the block MAY have up to 7 billion barrels of oil, not one drop of which has yet been discovered.
Regarding the odds that the first well is dry isnt something i am interested in, i am interested in the valuation of a company pre-drill, if it isnt a very low valuation on the company at that stage already, then i would be a buyer pre dill.
So as of Aug, UNX had no 3D seismic done on the blocks owned,(they were to be done in late 2010 and still the market cap of the company was 175Million $cad based on that they may have 2,39Billion barrels of oil.
What i am saying is that EOG.v may have 7Billion barrels of oil, but and that is a big but, the market cap of EOG.v is merely 50Mill $cad.
Do you se the descrepancy here?
This is the reason i am seeing a re-valuation coming, as soon as annons shares has been scoped up.
Regarding the brokers being al retail buyers is something i dont belive, maby some of the trades ends up in retail account and some in other accounts. Especially cormark´s that´s not a retail holder.
My thoughts is free of charge.
Exakt
ROZ ? have i ever owned them, must have been a trade.