Mid,
As I sometimes see, you really do not know what you are talking about.
Proven Reserve valuations are used by companies firms to value and book the assets associated with their Balance sheets. This is important as companies are held captive to little things like ratio's names Debt to Equity, Price to Equity. If a company can not value the potential reserves they have in thier portfolio then they really cannot leverage these reserves and get the full potential out of them.
Now when a company books a proven reserve (at whatever value) the PSC as well as any foreign taxes have been taken into account. That is a GAAP truth that is uncontestable.
My point earlier was asking if posters on IHUB could validate the $24 per barrel proven reserve value. If so all shareholders economics have doubled, at least if you hold the view that i have held that proven reserves are worth about $10 to $12/Bbl. Now pull out your slide rule and run the numbers I suggested and you will see that if that number $24 is correct, then my numbers are within an acceptable range of where we could be.
Mid, you seem to relish your role as a contrarian even when you have no idea what you are trying to talk about.
IMO
BAyfisher
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