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Gold/Mining/Energy : Fortune Petroleum (FPX)
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To: TD who wrote (150)1/9/1998 1:03:00 PM
From: cmg  Read Replies (1) of 275
 
spoke with jc today.....my impression is that 98 should be a good year......"should be" is the key........the first well at la rosa finally got its "casing" done......they had some trouble over the last couple of weeks but should have some results "sometime" next week......bouyu sorrell is beginning testing and it seems they are testing four zones separately and each zone takes 3 or 4 days....so who knows when the results will be in.......A rig has been contracted for espirit and should arrive sometime in February but first has to drill a few projects for chevron......It already seems to me that to drill 12 wells at espirit is hard to do, even if some are shallow........All their well are running, no problems........JC still says they are going to try to drill close to 28 wells in 98.......12 at larosa, 12 at espirit....and 3 -4 at bouyou sorrell.............I've lowered my estimate to 6 at larosa and 6 at espirit and 2 at bouyou sorrell...............still looks like an average of 1 a month.............FPX's CREDIBILITY is on the line now..............heres to a good weekend and a little movement in the stock price to 2.75......cmg
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