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DewDiligence

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DewDiligence

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Re: DFRAI post# 2798

Wednesday, 06/01/2011 10:35:32 AM

Wednesday, June 01, 2011 10:35:32 AM

Post# of 30495

oil fields decline on average 4-5 percent after they mature…

Note that XOM expects an average annual decline in its base fields of 3%—see the prologue of #msg-60885623. The difference between 3% compounded annually and 4-5% compounded annually is highly consequential.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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