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.
