Golden Arch Resources---GAI.V Message Board

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Gold/Mining/Energy : Golden Arch Resources---GAI.V

GAI 8.800

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Mar 22 5:00 PM EST

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To: CB. who wrote (205)	8/26/1997 10:32:00 AM
From: CB.	of 359

The following is the response I received recently from Richard Watson in answer to questions that I asked of Oak Mgmt on August 8 (Post #205 GAI thread). "CB, The planned website is underway, and in answer to your questions: 1. 4-5 wells are planned. Wells are still planned although time may run out, in which case drilling will continue into 1998. 2. Next well location should be identified in 2-3 weeks 3. 45-60 days to drill date. 4. Complete & interpretation of results are expected in 2 weeks at which time the next location will be selected. 5. IP test 322 BOPD @ 110 Flowing tubing pressure. For consevation purposes and inorder to extract maximum reserves the Jan 1 well was originally put on line flowing @ 100 BOPD- it is currently flowing 110 BOPD with a 200 lb flowing tubing pressure . Field engineer advises that bottom hole pressure has now increased 7 PSI from initial test. This means the formation is cleaning up and flow may increase. The object of conservative production rate is to recover initial investment from flush production before pumping or lifting costs are incurred. 6. Oil sales have begun @ 1.29/B over N. Dakota posted price. Richard Watson" CB.

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