RE:RE:What is P/E.....3.2allowance? when you produce oil, depletion recognizes that amount of production, as a quasi cost of goods sold. The amount recognized as depletion is based upon the various inputs/costs for the oil that has been produced., ie. whatever that may have been capitalized to the appropriate account. Growth strategy? Im more interested in keeping the share count down, although I really
believe now, a rollback will happen at the next AGM.. If not... would very much disagree with it. I would have very much preferred a cash transaction, or simply a series of jvs with other companies, needing cash on specific wells. The share count will increase upon successful merger by another 200 plus million..