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Gold/Mining/Energy : Scimitar Hydrocarbons, SIY:ASE
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To: Yarek Szolomicki who wrote (611)11/9/1999 9:07:00 PM
From: j.oil  Read Replies (1) of 864
 
Yarek if you compare them to TYK they should be past that now.
TYK has close to 20m shs outstanding They have a flow rate of about 1100bpd net to TYK they have know idea of the size of their concession. Yet they trade at $1.75 without pumping a drop of oil.I have been told the President of TYK has said that SIY has a superior deal to anyone in Egypt.
(Thank you Mark Smith)
Should SIY be at $2 by Christmas? Hell Yes.Will they be $2 by Christmas.Only Angus and his hairdresser know for sure.
Although Inquiring minds want to know.
Oil and Gas is not my field of expertise but some in the know tell me that 175ft thick pay zone is significant.
There are those that tell me although this is a heavy Oil play by Egyptian standards,it is more like a Medium grade oil play by Western Canadian standards.I have heard numbers from 500bpd/well-1500bpd/well.
I like to lean towards the conservative end I would be happy with 300bpd/well-500bpd/well
Something else that I have heard although It is only rumor at this point.I have heard that SIY could potentially drill up to 15 wells if all their expectations are met as the drilling proceeds.
The one thing we need is for Angus to start to promote this Company.
You can have all the production and cash flow in the world but you have to tell the story.
J
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