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Appraising Oil & Gas Properties
A Newsletter for Appraisal Professionals

           The newsletter is published a few times each year as opportunity and subject matter allow.  The newsletter was started in 1993 as an effort to communicate ideas and exchange thoughts on issues of importance to persons engaged in the economic evaluation and formal appraisal of oil and gas properties.  Along with professional topics the newsletter also contains Books and Literatures reviews, summaries of interesting papers and studies and the occasional bit of information about happenings at RJM&A.

           The following is a list of our past newsletters with the primary subject matter.

Vol. 7 No. 2 July 2005
You, Me and SEC
       Compliance versus Policy
       Restoring Confidence through Enhanced Compliance
       Revision of SEC Reporting Policy
       The CERA Study
       Deloitte Touche Report
       Toward a Fundamental Change
       Seizing an Opportunity
Do We Then Need Certification?
Projecting Product Prices
       Near-Term Projection
       NYMEX as a Reference Price
       Adjusting the NYMEX for the Subject Property
       Long Term Price Projections
       Natural Gas Prices
       Using Judgement
A Courtly Southern Gentleman
Letter from Rocky (at last)
Book Reviews
       "The Bottomless Well: The Twilight of Fuel,
               
the Virtue of Waste, and Why we will
                Never run out of Energy" by Huber and Mills
       "The Little Ice Age: How Climate Made History 1300-1850"
                By Brian Fagan
        "Susette Kelo, et al vs. City of New London,
                Conn et al, June 2005" by the U.S. Supreme Court

 

Vol. 7 No. 1 August, 2004
Bringing Oil and Gas Evaluation the 21st Century
       The Basis for Our Profession
       Issues for the 21st Century - Or at least for the next Decade
       Rsolve the Probabilistic - Deterministic Issue
       Standardize Reserves Definitions
       Standardize Assignment of Classification
       Standardize Economic Terms and Applications
       Expand the Use of Financial Methods in Evaluation
       Redux
Professional Certification or Accreditation
A Letter From Rocky
Time Travel


Vol. 6 No. 3 June, 2003
The Use and Misuse of "Risk Adjustment Factors"
       General View
       Available Data
       Are All Risk Adjustments Created Equal?
       Reasonable Certainty
Publications
       Canadian O&G Evaluation Handbook, Vol.1
       Petroleum Society Monograph No. 1
Courtroom Update
 
Vol. 6 No. 2 December, 2002 
Proved Reserves and UnProved Reserves
       The Industry Definition
       Risk Adjustment Factors
       Another Definition of Proved Reserves
       Maples vs. KCAAB
       What Does this Mean?
The Stanford Project
Book Review
Who is John Galt?
Oil Property Valuation meets Business Valuation

Vol. 6 No. 1 July, 2002 
Market Value or Investment Value?
"Quality"as a Measure of Risk or Value
Accounting for Abandonment, etc.
Book Reviews

       "The Map"
       "Skeptical Environmentalist"
       SPEE Monograph 2
       SPEE Parameter Survey
Opportunity Costs


Vol. 5 No. 4 November, 2001
Discount Rates
SPEE Recommended Evaluation Practices
So Then We Took the Plan to Management!
Return-of-Investment
       Payout as a Form of Return-of-Investment
       Why is Adjustment of WACC Necessary
Statistical Analysis of Discount Rates
 
Vol. 5 No. 3 April, 2001
Product Prices vs. Discount Rates
The Influence of Politics on Appraisal
What is a Lease Worth?
Hey Dude, the Lights Went Out!

Vol. 5 No. 2 October, 2000
Data Sources for Evaluation Engineers
        The WSPA Study
        The Texas Comptroller Study
        The SPEE Parameter Study
        "Legal Alchemy"
        "Federal Rules of Evidence and Daubert"
Occidental vs. County of Kern
Computer Error Messages in Haiku

 

Vol. 5 No. 1 December, 1999
Using Financial Market Data in the Appraisal of Oil and Gas Properties
         The Financial Source
         Components of the COC
         Limitations of the COC
         Measuring the Difference
         Adjusting the COC
Appraisers Workshop


Vol. 4 No. 4 August, 1999 
The Income Approach: Revisited
        Why the Income Approach
         History
         Discount Cash Flow in Real Estate
         DCF for Oil Properties
         DCF in Finance
         Major Components
         Relationship of the Components
Legal Beat - Kumho Tire v. Carmichael
          "Judging Science"
SPEE Monograph I
"Noah's Flood"

 

Vol. 4 No. 3 March, 1999 
The Cost Approach
The Cost Approach and Oil Properties
Appraisal: Art? Science? or Profession? Part II
The Income Tax and Oil Property Appraisal
Assessor's Handbook            
           WSPA Study

 

Vol. 4. No. 2 December, 1998
Appraisal: Art? Science? or Profession? Part I
Court Cases re: Engineers & Evaluation
Three Methods of Value
The Sales Comparison Approach
Comparable Sales for Oil Properties
         "Annals of the Former World"
         "Cost-of-Capital...."

 

Vol. 4. No. 1 June, 1998
Appraisal and the Cost of Regulation
What is Regulation?
Regulation and Property Value
The Cost of Regulation
Abandonment and Remediation
Appraisers Workshop
The Spring Pond Beavers
Ode to a Primitive Device

 

Vol. 3 No. 4 December, 1997
Why are There Differences in Reserves?
Economic Limit
Other Reserves Definitions
Dominquez Energy v. County of LA
         "Demon Haunted World"
          "Against the Gods"
SPEE Survey

 

Vol. 3 No. 3 July, 1997 
Reserves: You Say Proved......                                  
           What are Reserves
           Are Reserves Real?
           Who Defines Reserves
           The Definition of Reserves
           All Reserves are Not Created Equal
WSPA Study
Ibbotson Pure-Play Study

 

Vol. 3 No. 2 October, 1996
Fair Market Value
Just What is Fair Market Value Anyway?
Assessor's Handbook AH566
SPEE Survey

 

Vol. 3 No. 1 April, 1996 
What is Good Evaluation/Appraisal Practice
Opinion of Value, etc......
Value to Whom - and for What?
Appraisers Workshop
WSPA Study
Galileo's Revenge

 

Vol. 2 No. 4 September, 1995
Estimating Future Product Prices
To Escalate or Not to Escalate
Historical Perspective
           SPEE Survey
           WSPA Study
Sliding Scale Royalty

 

Vol. 2 No. 3 April, 1995
Market Discount Rates:
Application to Specific Use
Reducing Differences and Variables
Application to Appraisal
Constructed Derivation
Texas Property Tax

 

Vol. 2 No. 2 December, 1994
Market Derived Discount Rates:
Analysis of Data from Market Sales 
Main & Von Karman Associates v. County of Orange
Reports and Studies

 
Vol. 2, No. 1 June, 1994 
Market Discount Rates:
Sources and Derivation
Market Discount Rates in Appraisal Practice and
Regulation Sources of Market Sales Data
Using Market Data to Derive Discount Rates
Comparison of Derived Discount Rates
Reports and Studies
 
Vol. 1, No. 4 March, 1994
The Role of the Cash Flow
Shell Western E&P v. County of Orange.

 

Vol. 1, No. 3 December, 1993
The Cost of Capital Discount Rate
Sources and Derivation.

 

Vol. 1, No. 2 September, 1993
The Income Approach to Value in Oil Property Appraisal.

 

Vol. 1, No. 1 June, 1993 
Oil and Gas Mineral Rights as Real Estate
Appraisal Methods for Oil Properties
Evolution of Oil and Gas Appraisal Practice.

 
 

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