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: Poseidonas who wrote (4151)	8/23/1999 10:20:00 AM
From: Bob Walsh	Read Replies (1) of 15703

To all: The Haywood August 12th write up on ELH (and GSJBJV) at the Eland Jennings site is very informative. While several or most of these so called research papers combine ELH and GSJBJV prospects to arrive at possible valuations for the various participants none of them attempts to distinguish the probable success of ELH versus GSJBJV. At least Haywood does in a limited way on their page 6 where they quote an independent geologist. The independent geologist quoted by Haywood has estimated the probability of a successful well at 30% for Cal Canal, 10% for Lucky Dog and 5% for Pyramid. While they didn't give a number for ELH I would guess that it would be above 60% (perhaps closer to 80%) based on Bellevue 1-17. Based on the present experience at ELH versus the present lack of experience at GSJBJV, lumping the two areas together for the purposes of evaluating where to speculate seems like comparing apples and oranges. While this may be apparent to many, newer readers may not find this distinction in all of the hype. Regards, Bob

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