The Oil & Gas Elephant Hunt Message Board

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Gold/Mining/Energy : The Oil & Gas Elephant Hunt

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From: Brinks	10/28/2006 1:45:02 PM
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www1.investorvillage.com "We know for certainty that there are two major discoveries in the Paradox Basin, and I’m convinced beyond any doubt that EnCana has a major gas discovery in the CRB. Keep in mind we are likely one month away from a possible major oil discovery (possible 400 million barrel structure closure) in the Central Utah thrust belt, which I give higher than average odds for any given prospect in the thrust belt. Most companies will drill their best prospect first. The Paradox Basin appears to be much better than expected and will be the short term money maker as development wells can be drilled at a much faster pace than the CRB. If the Joseph Prospect hits oil, the risk of drilling successful development wells is better than 80% (historical statistics). After the Covenant Field discovery, Wolverine drilled 9 producing offset wells and only one dry hole (offset well). Assuming Delta finds oil in the Jurassic Navajo Sandstone (projected at less than six thousand feet deep) then I personally believe the thrust play (21 prospects) will be the greatest short term and long term impact play. Keep in mind that once a producing trend is established in the thrust play (string of pearls) the odds of success will likely jump from 25% (current estimate) to perhaps greater than 50%." Latest Delta Summary www1.investorvillage.com

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