Thanks for the share % post grayhairs.
I've just posted this on Stockhouse and felt it was worth posting here.
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Thanks for the update gimmeabreak (poster ID on SH).
I turned up a little different info and some interesting opinions so I'll post what I gathered as well.
BKP#1-
My best estimate now is that January 15th, 2001 is the target date to commence production flow, based on information gathering. What this means to me is another Christmas with little under the tree. Oh well, I'm prepared to wait. We have a good one IMHO. Just ticks me off that I got in too soon and others getting in now will make much more money and have far less risk. Nothing more to say on this.
BKP#2-
Progress report re current depth, schedule for testing the upper Carneros and
anticipated tie in date (assuming the news is positive.
The Partners are discussing the timing of events today. It appears that BKP#2 will be completed and tested very close to year end.
Based on that information being as we expect, it is reasonable to assume that tie in would take them 3-4 months so no production till late April.
3. BKP#3
On reading the last weeks postings I noted someone asked if BKP#3 was being drilled as an exploration well for geological purposes only or is BKP#3 being drilled to be a producing well? There has been so much negative misinformation that I'd like to set the record straight, based on the information I've been able to gather.
NOBODY drills $15 million wells for "geology" !!! The hope, of the partnership, is that the sands under the fault, are charged.
The sands are now thought to be somewhere around 18,500 and I was told that they are presently drilling at 18,056 feet and drilling ahead. At this point there is no indication of sidetracking.
BKP#4
#4 will be drilled to 20,000 over 180 days. I personally will not be updating the progress, of this well. These are production wells (although I wonder why so deep).
Here is what info I've gathered today, on the sale of a private
investor interest to PYR and if Berkley, in fact, bought the remaining, or any interest, from this private party?
There was, in fact, a small private interest, in ELH, and yes, BKP took up the remaining interest in their share.
While I was unable to confirm who the vendor was, I will tell you with absolute certainty that it was not ANYONE involved in ANY of the PUBLIC COMPANIES involved in ELH. There is no sneaky, behind the scenes skullduggery (?) going on between partners. It was simply a private interest dating back to the beginning owned by a party totally unrelated to any of the current partners.
Enough on this topic already. It is meaningless to the shareholders of anyone except BKP and PYR, which is why they both moved a little today, IMHO. They both own a little more...the other partners do not!!
And finally a comment on concerns regarding the restrictions for well production locations that are being proposed in California. Will
it impact developement of ELH, or the others, in any way?
How about this position. California is so desperate for gas (they are currently only providing 20% of their own supply, I'm told), they are not going to do
anything to discourage exploration drilling. The public meeting will go ahead and some restrictions and controls will be implimented, BUT NOTHING will be done to curtail exploration and production, in this area, IMHO. Just satisfying the special interest groups and justifying their existence.
What politician, or President (assuming there is a confirmed one BEFORE the meeting), is going to advise it's electorate that they may have to freeze or pay considerably more for natural gas because of new regulations that will further slow down new finds and production, in their own backyard. Just my opinion, and those of a few others, I'm sure.
I'll be lurking for a while. I'm burnt out but still very invested in the ELH play. If anything newsworthy crosses my path I'll report it. Day to day reporting is no longer necessary nor advisable, IMHO. Only PRODUCTION will turn the fortunes at ELH around. Until then, the market manipulators will have a field day, on small to medium volumes.
JMHOBWTHDIK. I'm currently down more that 11 (onety one) **ggg**
As always,
Good fortune to ALL ELH INVESTORS!
Good health to ALL ELH DRILLING RIG CREWS! |
