See the February presentation. Proved Reserves are now at 70.1 MMBOE. I believe they will be revised over 100 MMBOE. For those math-challenged, $100 oil implies reserve revenues would be $10 Billion. And the reserve number will not be based on all the holdings.
I bet someone basher out there does not understand the reserve concept.
Icon, there's a whole lot of "investors" out there that don't follow one of Buffet's rules; which says that you shouldn't invest in any business that you don't understand!
That said, I'm certainly glad that many people do invest (and divest) in what they don't understand, as it absolutely creates opportunities for those that do have a good grasp of what's happening and why it's important before others see it clearly.
Reserve numbers (EUR) are what a buyer looks at to determine a fair price TOMORROW, earnings per share is what most investors look at for value TODAY.
I believe in buying for tomorrow at today's price if it's substantially below tomorrow's value!
KOG represents a textbook example of tomorrow's value bursting out from a thin veil of fog that is about to be seen by the "earnings per share" crowd!
Judging by some of the posts on this board, many of them are here daily.
Oil reserves are usually only priced between 12 to 40 dollars a bopd because of the amount of money it takes to get them out. Bakken has been priced at the lower end but that is a big arguement now because of your possible benches and I am sure that arguement will have to be made by KOG, OAS, NOG for takeover value. Probably one reason why LP is so hell bent on the new testing of the benches. I would say we would say at least 2 Billion in value from reserves.
know arbry sold reserves and scuttles chk. we dont have to worry about our gas they throw it away in the flair. this scam is made for a reserve sale to cover the huge expenses these guys run up. we also could go down the higher priced prefered stocks they will try that for more acres. there is no end this is as bad as drys atleast they bought some drill ships this is nothing but trading grounds full of stupid investers that happaly sit there 14 months of zero drowth singing tomorrow tomorrow my dream will come true.