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Vintage Petroleum, Inc. (VPI) Message Board

  • imadeadcat imadeadcat Dec 16, 2004 10:01 AM Flag

    Did you see the POG price!!

    Noble is paying $3.5 billion for Patina including assumption of debt. About $13 per barrel for proven reserves of 263 million as of year end '04. Patina is United States mainly (entirely?) but that is still a lot for US land based assets even with the upside. And Patina has more upside than VPI in US. Still if VPI's proven US reserves are worth $10 per barrel that would be about $1.5 billion before Argentina,Bolivia and Yemen.