Nevtah/Tower Oil Intl.- NTAH Message Board

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Gold/Mining/Energy : Nevtah/Tower Oil Intl.- NTAH

NTAH 0.00400

-60.0%

Jul 24 5:00 PM EST

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To: Just My Opinion who wrote (1544)	6/23/1998 11:39:00 AM
From: Howard Kirk	Read Replies (2) of 3817

I talked with Canyon today. Got alot of clarification on the business direction. I guess I was the only one in the dark about things. NTAH does not need the extra two permits for drilling. They have decided to work with a larger company (possibly BP) to actually do the drilling on the Island. NTAH surmises that the large amounts of gas are in the Frio formation. They don't have the money to drill so they will JV with this larger company. NTAH has decided to direct their limited funds into the stripper wells technology. This has great potential, but it will take awhile to really get it going. They are completing beta testing and my guess is this will be the news release this week talking about the results of this beta testing. If all goes well, then they will pursue leasing or purchase of 5000 wells. I wish now that I had done a little more DD on this company last December. I think I got caught up in alot of the exitement of this company. I believe NTAH will do very well in the long run, but that is exactly it (the long run). Several years down the road to really get it going (hopefully shorter time frame). It wouldn't surprise me to see much lower prices before they move up. But that is only my opinion. I never thought we would see the mid twenties. Hope some of this info helps. One last thing, NTAH is producing around 85 gallons a day from their Borcher #1 well, so there are some revenues coming in. Howard

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