DALTON RESOURCES DAL:ASE Message Board

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Gold/Mining/Energy : DALTON RESOURCES DAL:ASE

DAL 57.82

0.0%

9:55 AM EST

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To: Michael M. Cubrilo who wrote (209)	4/27/1998 10:05:00 AM
From: grayhairs	of 486

Hi Michael, Logging operations were completed on this well late on April 22 (or in the wee hours of April 23). AND, casing has been run. I can not confirm, but do not believe that any DST's were run before casing so I think the well is going to have to be tested later through pipe. To hopefully clarify things a bit: There is NO LEDUC reef in this well. BUT, it has encountered a really good looking SWAN HILLS section. The logs apparently show no signs of any water in the porous interval. BUT, 1 well does not prove up 1 TCF of reserves in the Swan Hills. The gas WILL BE very sour. BUT, there are plants in the area with capacity to handle it. (The Leduc, if it had been encountered would also have been very sour.) So what are the stocks worth?? A fair bit more than they are trading at now, but not yet the "optimistic levels" previously hoped for. That's how I see it anyways. Later grayhairs

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