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Monday, January 28, 2008 9:23:28 AM
Are you basing the $10/share on a $7/barrel for known reserves?
Is that accurate anymore? I dont know? How does the Energy industry value known reserves in today's market? When Oil was $35/Bbl they had a value of $5/Bbl for known reserves. But today and at a market price of north of $90/Bbl wouldn't a known reserve value be more in line of $12.85/Bbl? I don't know, but if there is a linear relationship between known reserve value and the market price per barrel this corallary would hold true.
If 12.85/Bbl was the correct known reserve value then our stock price would be more in line of near $17.50 per billion barrels of known "proven" reserves.
Can you blow holes in this analysis. It is all speculation on my part.
Bayfisher
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