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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture
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To: STLMD who wrote (4608)9/10/1999 10:41:00 AM
From: Salt'n'Peppa  Read Replies (2) of 15703
 
Stephen, another thought comes to mind.

If the BKP JV establishes production at Cal Canal, it will drain a large area around the wellbore.
I'm not exactly sure of the rules, but it is my understanding that if the SOP group drill a successful well, and it is in competitive drainage with the BKP JV's well, then Berkley has the right to shut them down, or pay huge penalties to the BKP JV.

Perhaps someone with more knowledge in this area could comment further.

Regards,
S&P
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