Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: StockJock-e who wrote (5950)	12/24/1997 1:29:00 PM
From: PuddleGlum	Read Replies (1) of 95453

StockJock- I haven't read all the way through the last 150 posts, so maybe you've got your answers already on the Austin Chalk, but here goes: Chesapeake and SFY, among others, drill in the Chalk. It extends over part of Texas into Louisiana and the wells are very prolific for a time, but they dry up after 5-10 years. Seems that they serve a purpose of increasing short term cash flow while the e&p companies find longer-lasting reserves elsewhere. I understand that the fracturing method used is critical to the flow rates obtained, but maybe that applies everywhere, not just to the Chalk. SFY has a couple of wells in this formation that produce 10mm cubic ft of gas per day, which seems pretty good to me. Looks like it's a good thing that I ran out of money, otherwise I'd be way in the hole on CDG, FGII, and EVI. As it stands, I'm trying to decide whether or not to dump my few shares of TBI for a tax loss of about 33%. But I'm with you all in spirit, 'cuz I've lost just as much in semi equipment stocks as many of you have in the drillers. Steve

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