Phoenix Associates Land Syndicate (fka PBLSQ)

[cash2go]

grizzy - "It doesn't matter how much they paid"

If PBLS paid "720M for $720M for reserves" that would not increase the value of the holdings. In fact reserves have a risk factor inherent in what is actually recoverable and the fact that it is more expensive to recover tha last of what is recoverable.
Another thing to watch with the newbie oil companies. The initial flow of wells is almost always higher in the early stage, and followed by a steady trend down. There are many tiny oil holdings to specualte on with much more solid numbers to back up the value of the shares.