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Gold/Mining/Energy : Pan East Petroleum PEC-TSE Several Projects Starting
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To: HAZ who wrote (27)9/3/1997 1:32:00 PM
From: D.E. Shetland   of 73
 
Perhaps the company has been reticent on the Strachan area for good reason. Hopefully, once the land auctions are done they will let a few numbers slip. If Bullmoose does come in, they will have hit a fair number of the explor. wells so far this year with more to go.

I like your analysis --it looks like they've figured out Strachan seismic pretty well -they seem to hit there. It looks like they figured out the complex Bullmoose data as well --they had to move the ultimate touchdown spot and still hit (hopefully). Berland has been more success than not and the only reason #5 failed was because of water, not missing the spot.

Let's hope the knowledge they've gained can be put to good use in the next 12 months. Shoot more seismic and go for it. With 5+ more in Bullmoose and plenty in Strachan, they could really ramp up production and reserves by a multiple factor. That's what we need.

I'm looking out for any new info and hoping we'll hear more soon.
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