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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture
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To: grayhairs who wrote (3677)7/27/1999 6:08:00 PM
From: Poseidonas  Read Replies (1) of 15703
 
grayhairs: << running casing at 17,100 feet, some 500 feet higher than in the blowout well. >>

Can you please comment on the following information. This is my understanding of what is happening:

1. When they reached 17,100 feet they stopped drilling. The samples at this point must have indicated that they have reached the pay zone.

2. After the casing is complete, they will drill out the shoe and begin entering into the pay zone at about 100 feet per day.

3. The pay zone is estimated to be 2000 to 2500 feet thick, therefore, this will take about 3 to 4 weeks to reach total depth.

4. Assuming the pay zone is established at 2000 feet thick, can they estimate the volume of gas. (ie. Volume = Area * Thickness)

5. If my info above is correct then one may conclude the following:
The longer it takes to drill to total depth means that
a) the pay zone is thicker,
b) larger gas volume reserves,
c) = higher price activity for all the Joint Ventures shares.

In other words, we don't necessarily have to wait for them to drill to total depth and announce the reserve amount. Once we get into the 2nd or 3rd week of drilling into the pay zone, we should already know that the reserve size is massive and the share prices should start jumping rapidly.
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