KOB.TO - East Lost Hills & GSJB joint venture Message Board

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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture

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To: Rocket Red who wrote (3790)	8/1/1999 10:20:00 AM
From: grayhairs	Read Replies (1) of 15703

Of course it is a working interest. But, it is a 4.4625% working interest AFTER PAYOUT. Their working interest BEFORE PAYOUT is larger, 5.95%. I guess you just don't understand how these deals work and the fact that ELH is a single prospect covering about 20,000 acres. KOB will have a 4.4625% interest in ALL wells drilled on the ELH prospect. TMK will have only a 1.0 % interest in the ELH wells. TMK is participating in the GSJBJV while KOB is not. TMK is clearly the most levered participant in that JV. But, that is a whole different kettle of fish !! It is wildcat high risk exploration at the moment. Something quite different from ELH.

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