It was a rhetorical question to get people thinking about how companies get to earnings. There are specific O&G accounting rules for DD&A. My point was it is conveniently forgotten about,
Pure CO2?? Well yes the big projects in USA have access to such field (I own KMI which has a small - for them - CO2 and EOR business).
Reference to Moomba is that the gas in places has high CO2 - like say in the Nappamerri Trough where it was up around 25%. But it needs separation facility so off it goes to Moomba to be processed to get saleable gas.
Your point on BOE I agree with 100%. Companies use BOE purely to obfuscate IMO. They stress oil prices and then denote expenses on a $/BOE basis. Plus they hardly ever talk about the well head realized price and rabbit on about an index price without highlighting the differential. And clearly margins on gas are "narrower" than oil.
ELK Price at posting:
6.7¢ Sentiment: None Disclosure: Not Held
