Message #148646 on Investor Village "BRY" Message Board.
Message #238 on Investor Village; "PQ" Message Board.
Having my Diet Dr. Pepper; even I and most everyone who Invest in Oil & Gas Companies know that 100% Working Interest doesn't mean 100% of the Barrels of Oil and MCF of Natural Gas that is Produced.
Both Texas & North Dakota has Royalty on the Leases being drilled.
There is Royally which can be 25% of the Barrels and MCF produced.
There also maybe ORRI (overriding Royalty Interest).
Since ABRAXAS only shows Working Interest, we (Abraxas Investor) don't really know the NRI truly is. NRI (Net Revenue Interest) .
ED ( drinking my warm Diet Dr. Pepper)
Proven Reserves numbers like 31 mmboe is meaningless.
Proven Reserves are both developed and undeveloped.
What you sholud be looking at is:
"PV-10 is the estimated present value of the future net revenues from our proved oil and gas reserves before income taxes discounted using a 10% discount rate. PV-10 is considered a non-GAAP financial measure under SEC regulations because it does not include the effects of future income taxes, as is required in computing the standardized measure of discounted future net cash flows. We believe that PV-10 is an important measure that can be used to evaluate the relative significance of our oil and gas properties and that PV-10 is widely used by securities analysts and investors when evaluating oil and gas companies. Because many factors that are unique to each individual company impact the amount of future income taxes to be paid, the use of a pre-tax measure provides greater comparability of assets when evaluating companies. We believe that most other companies in the oil and gas industry calculate PV-10 on the same basis. PV-10 is computed on the same basis as the standardized measure of discounted future net cash flows but without deducting income taxes."
The PV-10 takes into account all the Costs to get the undeveloped into developed status plus all the costs to produce and sell the products. The Selling price is based on a 12 month average of 1st of month selling price of the product.
The Cash Flow discounted is what counts. What good is 31 mmboe if it is all or mainly natural Gas.
The Cost of drilling and the Cost of Leases might make producing the Natural Gas a losing proposition.
Note: Once drilling starts a location its Reserves are counted.
Yeah ! you should read "seeking alpha" :
From the last Seeking Alpha article:
Endeavour Operational And Guidance Update Suggests Potentially Significant Gains
Jul. 18, 2014 10:15 AM ET
The June 10, 2014 operational and guidance update reflects progress made by the company to stabilize and improve operation of its valuable assets.
The company has made significant progress improving its balance sheet. This continues to be the highest priority now and in the future.
The June 10 raised guidance suggests that Q2 2014 could turn out to be profitable since many one-time charges applied in Q1 2014 won't occur in 2Q"
Price on July 18 was $1.24; now it is 26 Cents.
I already made judgment on you; you are a phony.
Seeking Alpha author are nothing but posters.
None of them ran companies or are financial officers.
I did both.
Usually Pipelines & Processing Facilities are full to Capacity.
2nd Opinion is usually lack of pressure to pump Natural gas into pipeline.
Investor Village; Message #8314
Still way too much flaring (burning off) of Natural Gas on the Dutch & Snake Eyes Wells.
Why are the LNREF idiots still posting that garbage stock,
They started posting on many Message Boards at 51 Cents and now it is at 31 cents.
We had a belly full of you idiots.
Message #8312 on Investor Village.
Investor Village; Message 8311
Investor Village; Message #8309.