All,
I received a response from Angela today. Most of this was posted already by CMG, but here it is:
Dear Mr. Worley,
I apologize for the delay in responding. I was out ill for the past day and a half. I hope that the following information is sufficient.
Regarding East Bayou Sorrell, the Schwing #3 well has been spud, and they are drilling ahead at about 7,000' with a target depth of 13,500. Additionally, there is a chance that they may spud Schwing #4 before year-end. Hopefully we will know more regarding that by mid November. John Collins will be more informative concerning that.
With regards to your questions concerning LaRosa, a well has not been spud as of yet. However, they anticipate within the next 2 or 3 weeks. In order to spud multiple wells, they will require 2 or 3 rigs now.
At Espiritu-Santo Bay, the most likely time frame to spud a well there is the early part of 1st quarter, 1998.
Overall, the preliminary plans for 1998 include the following:
12 wells each @ LaRosa and Espiritu-Santo Bay.
Continuation of the progress at East Bayou Sorrell, and the Zydeco prospects.
If you have any further questions, please do not hesitate to contact either myself or John Collins via e-mail or at our office number (281) 872-1170.
Respectfully,
Angela Rumora
Asst. to the President/CEO
Asst. - Investor Relations
The stock continues it's slow but steady climb higher. Nice to see the volume jump back up a bit today. We should see a healthy bit of anticipation in a couple of weeks when they spud a well at LaRosa and approach the target depth at Sorrell.
Joe |
