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Vintage Petroleum, Inc. (VPI) Message Board

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  • imadeadcat imadeadcat Jun 2, 2003 10:04 AM Flag

    Buck a barrel for reserves

    $1 a barrel for reserves??? Faulty math I think. ~490 million barrels of reserves versus market cap plus debt of ~$1.4 billion equals more like $3 a barrel but as a good friend once told me" all reserves are not equal". Those reserves in Bolivia and Argentina are worth far less than US and Canadian.