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david02835

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david02835

Re: snow post# 43934

Thursday, 04/13/2006 11:52:45 AM

Thursday, April 13, 2006 11:52:45 AM

Post# of 361314
Snow, what companies pay for the rights to drill for UNPROVEN resources has nothing to do with the future value of those resources when PROVEN. It is like putting up an ante to play in a game of poker. CWPC paid under a million dollars for lease rights to hundreds of thousands of acres in Canada holding UNPROVEN reserves of oil sands. Now that the reserves are starting to be PROVEN, the value of the company is in the billions years before there will be any removal of the oil. ERHE will be valued in the same way when the resources are PROVEN.
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  • 1M
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