Gran Tierra Energy (GTE) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gran Tierra Energy (GTE)

GTE 3.410

-8.1%

3:59 PM EDT

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: architect* who wrote (131)	7/15/2008 6:44:57 PM
From: KaiserSosze	of 161

Great post by oiljack on IV. Recs: 8 GTE as operator of Costayaco... Let me offer an unbiased opinion as I no longer own any GTE shares....:( (1) It was a mistake to have let the rig go last year and to have delayed the drilling program (2) They logged C-3 wrong and had some down hole issues with that well (3) Other than that Argosy has executed brilliantly. They are a demanding drill ops bunch of guys who hold everyone on their team to account or task and I would not have any other drill crew were I able to choose...even though I own SOR. (4) They have completed the Costayaco pipeline and are running pressurized water tests and oil should flow within a few weeks to the tune of 10,000 bopd. (5) Costayaco 5 is a big step out well and it has the potential to enlarge the western expanse of the upper 3 zones to a great degree and thereby add a lot of reserves. Possibly proving up as much as 80 mmbo. They have drilled the well deeper than the others I believe and if it does not find the o/w contact point look out. (6) Argosy is busy designing a drill campaign to met the 4 drill priorities for the area for the next 9 mos. The o/w contact area and the sands in the southern portion of the field, another well on the crest of the structure to add bookable reserves and have another very strong production well and to drill the 2 large oil pools on the northern portion of the field and block...one inside and the other (Costayaco North) outside of the fault. The area outside of the fault is thought to conatin as much oil potential as that in the field at present. (7) Argosy has civil works plans underway to improve road infrastructure, water handling facilities (pump it back into the field...will need water injector wells for 2009 after all o/w contact point have been found) and oil piping capacity. By the end of 2009 production may be much greater than 25,000 bopd gross. They will have more than 14,000 bopd of production capacity by the end of the month and they are talking about full field production at 30,000 bopd rather than the 25,000 bopd mentioned before. This could continue to grow with more development and exploration drilling success. (8) A global drilling permit will be granted by Q3E and this will allow them to drill anywhere whenever they want. (9) They will have 2 rigs but only when they have the well pads and permits to justify it. Coming.... (10) A terrific outfit...best in the country... Buy it....wish I had kept mine and waiting to sell something to get back in....much more value to be created by Dana.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next