International Rochester Energy Corp. (T. ROH) Message Board

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Gold/Mining/Energy : International Rochester Energy Corp. (T. ROH)

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To: john hawkins who wrote (270)	12/18/1997 10:14:00 PM
From: Ed Ajootian	Read Replies (1) of 934

John, Drilling results may not come out until very late in the month, or even early February. If at least one of the two uphole zones are productive and the well tests at 10,000 bod the stock _ought to at least double from today's quote, something in the 3's. This is because there would then be all the earmarks of a 50 mmbo field. Then the next Estero well they will try to test the Paleozoic rocks that are deeper, and that presents some more upside. The inability of the stock to mount a sustainable rally in spite of the spudding announcement is starting to get me concerned though. Granted, the well is just a developmental one, but it still has the chance to materially increase their proved reserves. So I'm wondering now that if the market is ignoring this well so far it could well ignore it even after the results are out. Granted, a gusher will trigger some knee-jerk buying, but it could come right back down soon after.

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