north sea read .., page-6

re: north sea read .. salty Brovo Anyalyzer nice piece of work. I did a similar analysis as you and concluded that no one can figure out what goes into the valuation of some stocks. Your range was between $100 to $400 MM - that is a heck of a range which I believe that both are right or wrong for that matter.

The Galoc numbers you looked at seemed to be the test results from one of the wells. I recall that one of Nido's reports stated it was damaged and vertical - wonder what an undamaged horizontal well would produce. Anyway, I figure that each well should be able to produce at least 50% more than the test data - that would be 6600 bopd/welll. For the UK blocks, check out the govt website - it has got a pile of data on production and fields etc - I got lost in it this weekend, rather fascinated I must admit - anyway - those wells can produce 15 mmscfd per well which is the low side, that article in the oilandgasinvestor showed that the gas price could get really out of control on the high side.

What I concluded is that I do not have a clue what this company is worth, and for that matter, looked at the sweetheart companies, ARC, AWE and dont know how they can be worth so much. ROC announced the other day that Cliff Head costs could grow as high as $250 MM for 20 mm bbls, thats over $10 per barrel,did not seem to hurt their price. I guess the high oil price has screwed everything up as nothing makes sense. One thing I have concluded, if Nido gets Galoc funded and developed and a UK block on stream, this company is going to be worth a f@#king fortune.

But then as one of you pointed out previously, what the hell do I know.

Fixer