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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: architect*	8/15/2007 8:31:14 PM
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Pacific Stratus Energy PSE.TO pacificstratus.com Another example of the market saying "show me the money" to a world class natural gas discovery. PSE sold off by 22% today, on their Q2 2007 report and encountering water in their second La Creciente drilling. The water contact caused PSE, in their conference call, to lower their proven, probable, and possible reserve estimates on La Creciente from more than a trillion cubic feet (CF) natural gas to less than a trillion CF ( +/- 800 billion CF - not certified). In any case, the daily flow rate remains 200 million CF / day and PSE's market survey indicates they can sell as much as 240 million CF / day at a price of $2.85 - $3.00 thousand cubic feet in north west Colombia near the coast. Operating costs for La Creciente are estimated at $.03 per thousand cubic feet) with 6.4% Colombian royalties. Natural gas production and auction sales are expected to begin in September 2007. No position or recommendation here, just researching major oil and gas discoveries in South America.

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