Amalgamated Explorations (AXPL) thread 2 Message Board

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Gold/Mining/Energy : Amalgamated Explorations (AXPL) thread 2

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To: dave g who wrote (202)	8/14/1998 2:30:00 PM
From: Jeff Williams	Read Replies (1) of 269

Dave: I'm not a petroleum engineer, but a blow out occurs when the well pressure is greater than the rated, or structural capacity of the Blow Out Preventer (BOP). You're dealing with Mother Nature here. As you probably know, if you've been reading this thread and their press releases, they almost had a blow out when they were drilling the well. They could be caused by both Mother Nature and/or human error or equipment failure. Not sure what the insurance will provide, but I assume it will maintain their cash flow until they can drill a new well (just a guess). AXPL is looking for funds to drill a 100% owned well in the same area which will tap the same field as Barrett's well. 45 million cfd is a MONSTER well in anyone's books. Most wells payback in about a year. This one was going to pay back in about 3 months. Regards, Jeff

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