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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v)

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To: Trumptown who wrote (1695)	3/23/1998 11:08:00 PM
From: CLK	Read Replies (2) of 3335

They said in their news release that the results were expected at the end of March and guess what time it is folks! Why wouldn't the Bellingham basin be as big or bigger than the San Juan or the Black Warrior basin? I can see no reason. When I first heard of this play in Dec. of l994 someone told me there were 13 coal bed methane plays of size in the world and that 9 had been tested of which 6 were monster hits. One of those left was supposed to be at the mouth of the Amazon and someone like Chevron was trying to work out how to make it feasible given the remote location. Whoever told me said he was not sure where the other 2 were but Bellingham was the only one he knew of left that had not been adequately studied by drilling. Given the odds (6/9) and the fact that Bellingham is right next to a major market, it seemed a very good bet at the time for a winner. I still think the odds are quite favorable and the chart is now supporting that view. This time we will probably know within 30 days since the drill results should be in and analyzed. I do not know how accurate the story I was told was but I repeat it for your interest. One thing that followed in my mind at the time was that this play would be hard to duplicate and so I should not miss playing it. I also have and still maintain that the Turkey play could be as big or even bigger despite no one being the slightest bit interested in it. If you look at a map of this land position and plot out what is on the edges of it it will raise your eyebrows immediately. It is right on the Iraqi oil trend and good sized major oil hits have been found all around it. The land position, as I understand it, is quite large and the roads already in. I would not be surprised if this play did not contain a one two punch followed by the Alberta fields which are very rich as well (punch three). Unlike the prior rally which fizzled, I think this one will just keep going. The companies merging is a good sign and combined they have about a million in the bank by my estimate which means they are no longer on the ropes. They certainly need a major partner to do anything, however, as they could not shoulder the cost (300 mil) of developing a major coal bed methane deposit if they have discovered one. Anyhow I marked Oct 12 -23rd of on the calendar at work for the group trip to Portugal just in case this works out. Plenty of time ahead to plan and, if this works out, I think everyone will be able to afford the plane ticket. Keep your fingers crossed and your eyes on the chart.

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