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Strategies & Market Trends : Natural Resource Stocks

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To: isopatch who wrote (20228)	1/20/2005 10:48:32 AM
From: la.dave	Read Replies (1) of 108704

I is here, been doing a bit of reading on the Yahoo CNR-Group board. The following is part of an email response by Julian Hammond-CEO of Canargo(he apparently does not use spell check) to a question from a fellow stock holder. The rest is available at Yahoo Groups. Next week we should be back to work on N-22, only 300 meters to go. Did I say KA KA KA CHING. My wag upped to 2,000-4,000 bbl/d.(optimistic? Maybe) Time will tell. Still in the watch and wait mode(and glad I am) with AGT. I figured that the latest news would cause a shake out of those that can't see the potential, forest for the tree kinda thing. Thanks for your post on the market, affirmation of my thoughts, thus I am one positive SOB. LOL Best to Ya. Julian Hammond's email. <<We will be drilling 15 underbalanced horizontal wells with Weatherford International. These are principally old wells that we are re-entering and kicking out from, which keeps costs relatively low. The sub-vertical fracture nature of the reservoir means we should hit more of these fractures with this method than with a vertical well and therefore have higher production. We have drilled 4 horizontal wells with drilling mud but lost a huge amount of mud when we hit these fractures that limits the length of the horizontal section, and damages the reservoir. This method uses Nitrogen and wee should flow whilst drilling, there fore producing in a more efficient way. We are drilling some in the most productive part of the field, and some into potentially un-rained areas. The N22 well is in an un-rained area and the N100 is in the most productive area. WE drilled a new well on the Samgori field which we intend to use for three horizontal sections. So as you can see it varies a lot.>>

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