Ultra Petroleum (UPL) Message Board

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Gold/Mining/Energy : Ultra Petroleum (UPL)

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To: upultra who wrote (4602)	5/5/2000 12:06:00 AM
From: Gerald Atwater	Read Replies (1) of 4851

<<The potential is still there.>> It sure is, upultra! There are a few interesting obstacles, though. The short drilling season for one. June-November is but five months and both the Jonah EA and the Pinedale EIS contain restrictions on the number of rigs that can be there simultaneously. So purely from a physical standpoint how many wells can be drilled and completed in that window? Plus, the grouse (among other animals and birds) are a consideration. If, for instance, a pair of grouse are getting it on at Point A and Point A 13,000' down is a prime gas location the BLM says the operator has a right to access the gas BUT cannot do it from the Point A surface. So the well to access Point A gas has to be drilled directionally from Point B, hundreds of feet away. More challenging and expensive. There will be many other restrictions that complicate the field development but by law MAXIMUM EXTRACTION of the gas is required with the leases so the wells will get drilled. This really should be a great year for Ultra and the other companies there!

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