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Gold/Mining/Energy : American International Petroleum Corp

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To: faris bouhafa who wrote (485)	7/19/1997 2:37:00 PM
From: Taylor Mill	of 11888

Faris ..>>...would one of our resident experts please tell me whether the term "31 gravity" applies to gas as well. Simple question: does "31 gravity" apply to the quality of oil or gas or both? << Gravity does not apply to gas --- just oil and condensate; heavier oils are lower # gravity; thus 31 degree is good quality oil but heavier than common "standard" of 40 degree oil; condensate is lighter liquid hydrocarbons normally associated with gas reservoir. Since "blowout" story suggests gas and condensate, 31 degree garvity crude oil reference seems to be a big mystery --- where did this come from? >>.. when Triton did the first seismic testing of the Columbia fields, what reading of potential reserves did they initially come up with and when was that first seismic test completed?<< Not sure of exact answer, don't recall if there was any pre-drilling speculation or not. Seismic must have been reviewed in mid to late 80's as I think first Cusiana discovery well was drilled in 1988; extent of discovery not really determined until at least 1991 and further drilling has proven 135 million barrels of oil and a small amount of gas (3 BOE) for Triton in Colombia as of 12/31/96. Their total proved, probable and possible reserves in Colombia are 403 million BOE from the Cusinana and Cupiagua fields which have been extensively drilled now for a number of years. Production is just starting ramp up now in late 1997 to early 1998 to about 500,000 barrels per day including BP, Total and Colombian govt shares combined. So now what do you think of AIPN claiming possible 1.1 billion potential barrels without even drilling 1 well?? This ought to help you start thinking a little more realistically.

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