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Thursday, June 22, 2006 1:32:41 PM
As to the value of the properties...lets see: to the company who sold/leased the properties (were they shut down or just non-productive enough to be worth expense?) not much. Even though the proven reserves were there, it was not economically feasible nor enough to justify the expense of re-working them with no guarentees.
To BIGN who has the technoloy and expertise to extract product at an extemely low cost and very high return, these properties meant something to them like huge $$$$$ which we are now harvesting. Put simply, the property/leases have increased in value by untold thousands of percent in profit (after the first month). Doing the Grimes is like having a license to print money. Make no mistake about that.
Hydoslotting profits make the profits one would make by hydroponics look very weak indeed. In the case of Orphelia well the cost was recovered within one or two months, so the rate of return multiplies expedentially with every quarterly report.
You have enough figures to do the ROI on Grimes #1 on a one year period. how many thousands percent profit is that? The well still has many years of life.....VALUE???? - priceless.
Great minds board: http://www.investorshub.com/boards/board.asp?board_id=5388
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