qdog,
I couldn't help but respond to the rash claim in the news release, allegedly by Dale Wooddy "that AIPN would have oil in the pipeline by the end of the first quarter 1998." That statement was totally absurd and nothing but hype; I then decided to exit AIPN. However, I sincerely wish each, and every investor here, complete success; the investment just didn't suit me.
Regarding "oil in the pipeline by the end of the first quarter." First of all, you have to know exactly where to drill; thus the requirement for the seismic survey and reprocessing of existing data; this all takes time--probably four months just to get to the point of drilling the first well---note that AIPN has now stated they will begin drilling late first quarter, or early second quarter, depending on the availability of a rig. Secondly, drilling a well to depth, in Kazakhstan, will take two, or three months, and that is if they don't have any problems. So, using those numbers, when is AIPN going to have oil in the pipeline; that is assuming the first well is successful???
Just for everyone's info regarding seismic data: from the S-8 filing by AIPN available in Edgar:
The five-year minimum work program required by the License calls for the Company to acquire and process 3,000 kilometers of new seismic data, reprocess 500 kilometers of existing seismic data, and drill 6,000 linear meters at an approximate estimated cost of $13.5 million. In addition, the Company assumed an obligation to pay the Kazakstan Government three annual payments of $200,000 each beginning July 1998 for the purchase of existing seismic and geological
data on the License Area.
Good Luck,
Buzz Mills |
