valuations again!, page-2

Oilman

I am no specialist either in this area but companies will have different ways of valuing reserves.

BPT in their attempt at DLS were paying about $17 per barrel . The oil price was alot lower than here.

Most people feel to pay for reserves you can pay from $15 - $30 per barrel depending on quality and production costs as well.

ITC costs are about $22-$25 per barrel to extract.

Hope this helps.