OTCPK:WSRLF - Post by User
Comment by
canadafoxon Mar 27, 2012 1:52pm
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Post# 19723707
RE: TD->RJ & material
RE: TD->RJ & material not4; TLM will have a total of $480m of PSC acquisition costs attached to Kurdamir if they remain involved. How any analyst can say that nearly $ 0.5 Bn of pre-operational ( !!!! ) costs alone is 'not hugely material' is beyond laughable. Does he think that TLM's CFO agrees with that statement? To amplify this thumbnail..... If Kurdamir has 600 MM bbls of recoverable light oil this is 240 MM bbls attributed via WI to TLM. With a likely 300 MM bbls on Topkhana ( 60% WI ) this gives a possible WI total of 500 - 600 MM bbls to TLM for the combined structure. After spending nearly $500m and perhaps finding 500 MM bbls of light oil how can any 'analyst' ( an approximate term ) say that it is not 'hugely material'. It would be material to a major never mind an independent. In contrast, TLM acknowledge the importance of Kurdamir/Topkhana and Baranan in ALL of their recent presentations as being the 'future' of the company. You are right therefore in noting that Kurdamir is definitely 'material' to TLM at $13 Bn MC and multiple times 'material' for WZR with an MC of less than $300m. To think that some of these 'analysts' are actually being paid many time the average person's wage is risible. A one-legged dog with a calculator could produce a more convincing argument on 'materiality' than RJ. Embarassing.