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Gold/Mining/Energy : Tusk Energy (TKE)
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To: RIK who wrote (798)8/26/1998 2:18:00 PM
From: grayhairs  Read Replies (2) of 1207
 
RE: "The scenario 'that I paint' is that these companies have NOT made a MAJOR discovery at Strachan.

FWIW there are thousands of commercial wells in Alberta that produce only modest amounts of oil and/or gas."

1) Since you are clearly of the opinion that these companies have NOT made a MAJOR discovery at Strachan, would you please quantify for this thread what minimum\threshold reserve is necessary to rank as "MAJOR", in your opinion ?

2) Notwithstanding that you may not believe the 3-22 discovery to be MAJOR, what magnitude of reserve discovery in the deep horizon of that well would you consider to be of material economic value to TKE and the sisters ?

3) Would you kindly provide this thread with your "guess/estimate" (whichever) as to the magnitude of the "POOL" reserves which the 3-22 well is most likely to have discovered in the deep horizon ? Of course, any breakdown of the reserve estimate (into either a probability distribution or industry standard reserve categories) that you can offer will be very much appreciated.

4) For the deep zone in the 3-22 well, what gas production rate would you consider to be a cutoff above which the rate would be more than just a "modest amount"?

5) With respect to the deep horizon penetrated by the 3-22 well, what would you estimate its NAV/share to be for TKE ?

6) With respect to the shallow horizons in the 3-22 well, do you continue to have the same opinion as was expressed in your Post #258 on the Dalton thread, that being --->> Proven Reserves = 0 ; Probable Reserves = 0 ; NAV/share = 0 ?

Have a pleasant day!
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