Magin Energy-MGY on TSE Message Board

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Gold/Mining/Energy : Magin Energy-MGY on TSE

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To: kingfisher who wrote (61)	6/20/2000 11:34:00 AM
From: grayhairs	Read Replies (1) of 92

Hi Richard. Regarding your post #11272 on the KOB thread: <<While ELH has been the subject of much speculation as to total recoverable reserves,you have in your own backyard a very hot play that could eventually prove out several trillion cubic ft.>> I agree with you that the Copton area has some very exciting reserve potential. I don't believe it to be in the same league as the structures being targeted by the BKP JV in California but it is nonetheless very interesting. For your information, I have been following this play for at least two years now and I do have an investment in it. The article you reference speaks to the huge reserve potential of the trend. So does the very aggressive land acquisition over the last couple of years, the recent, current and planned drilling and the pending construction of a 140 MMCF/d pipeline connection by Canadian Forest, Magin and Archean. <<Curious to in what your opinion this could eventually prove out to Magin Energy's 40% interest at Copton? Would 100 bcf net to Magin be conservative?>> 100 BCF net to Magin's interest seems low to me, but you should defer to their project numbers if you want a decent target number. <<Have you been up to this area and done a little scouting?>> No, it's too far. Besides, I'm not real keen on trail riding any more (and the access roads out that way are not something I'd want to drive my car over) !! Magin's holdings in the Copton area could make MGY "ripe for picking" by AXL or other bigger players in the area. It'll be real interesting to see how this all plays out over the next year. Have a great day. Later, grayhairs

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