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NDOL : 300% revenue increase, calling *0.47
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[QUOTE]Originally posted by fatcat: [QB] [QUOTE]Originally posted by Baxt06: [qb] I am a CPA, and you would never mark up your asset account to show the market value of reserves. It's valued at lower of cost or market. If there is reason to write-down the asset, they would be obliged to do so, but never the other way around. [/qb][/QUOTE]By all means share your insight as you have actual knowledge where I am just a poor schmoe trying to make sense of things. Here's my understanding: Nord's oil should be filed on a balance sheet with a valuation calculated as the sum of any leases they purchased plus the cost of any exploration, drilling and other development costs. If Nord hasn't shown the extraction of their oil to be economically or technically feasible, then their oil would show up as an intangible asset with a valuation calculated as in the previous paragraph. If it is technically and economically feasible, then it should show up as an tangible asset, with the same value calculation. In no instance should the balance sheet show market value of an a non-produced mineral asset. In either case, whether tangible or intangible, the market value of Nord's oil is not going to show up anywhere on Nord's balance sheet. Only a small fraction (hopefully) will show up that constitutes the money they have spent on exploration, drilling and development of the assets. Is this right? [/QB][/QUOTE]
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