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Gold/Mining/Energy : Olympic Resources ORL:VSE

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To: knight who wrote (11)	11/17/1999 10:03:00 PM
From: burner	Read Replies (1) of 95

Thanks for the Hilton link. I ran some numbers on this last deal ORL did: My figures are a bit suspect as I can't read my own hieroglyphics sometimes, but here goes. The area is called the South Oakley and the original discovery had intersected a 40' thicknes of 3rd massive sand(?). An adjoining well intersected 300' of the same. Using seismic and exploration reports the play is believed to run to the Olympic target. Now here are some of my numbers and keep in mind I am NO expert! Gas is approximately $3/mcf (thousand cu ft) or $3,000/mmcf(million cu ft) The company hopes for 10 (ten) mmcf per day of initial production that is approx $30,000 a day of which they split 50/50. Now there will be a royalty to pay and operating costs to bear but this does give one the idea that this can be extremely significant. These figures as opposed to the $137,500 drill costs present what I call attractive upside. I should run some of my calcs by someone in the company because if it is as good as I think it is we might end up being happy campers.

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