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Gold/Mining/Energy : Parkcrest Explorations Ltd. - Discovery 4,116 BPD
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To: Jeff who wrote (79)2/14/1998 2:47:00 PM
From: Ed Ajootian  Read Replies (1) of 94
 
Jeff,

Monday is President's Day here and I believe (but not certain) that the markets are closed here then. Since they just hit total depth a few days ago I would be surprised to hear results next week. Since they set casing down all the way to the Paleozoic you gotta figure they had to wait a coupla days for the cement to dry.

The only way testing could be completed by Monday IMO is if some of the zones were found to be wet. If you start your production test and all you get is mostly water it would seem that you would cut it short. Since these are water drive reservoirs this is the biggest risk for us at this point.

I'm hoping that PKC is thinking like me, and only talking to HEC in order to have in hand a "Plan B" in case they get squeezed too much when they go back into the financing markets in a couple of months. Their terms with HEC require them to put another huge chunk of change (I believe its $3 mm) in HEC's hands as a "deposit" by May 30 or so, in order to stay in the Alcaravan game. By having a HEC sellout deal in hand when they talk to the financiers, the financiers will know that if they squeeze too hard the whole game will be over and nobody's gonna get nuthin'.
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