Hi Werlick,
Yes, I know from public posts and the many private e-mails that I have received that many threadsters have found my posts to be of some interest, educational or otherwise. And, that's one of two reasons that I presently provide them, Werlick. The other reason is to communicate to friends and family that "lurk" my opinions, etc. as to what's going on.
Now as I've stated in a previous post, while most threadsters here do not know me personally, there nonetheless are many "lurkers" that do. Thus, I am sensitive to having my abilities, opinions, ethics, integrity, etc. ridiculed/trashed in full view of those people. So, while I will continue to post publicly for a while yet, I'm likely to "disappear" before too long. Now that I have learned how to "cut and paste", I'll simply lurk myself and e-mail family and friends privately. I don't need the hassle associated with public posting and I wish to cease my own embarrassing conduct.
When I asked YOU to "judge" my prior scouting reports and "field abilities", I really meant you and any other threadster that gives a hoot. In as much as my March/98 scouting reports and predictions on the Bearcat thread had recently been trashed on this thread (in an effort to discredit my posts??), I was only attempting to provide you with some means of evaluating whether or not you want to give any of my posts any credence or not. I'm certain that as a prudent investor you are doing your own DD. So, if my posts help you "link" things together, great. And, if by chance my observations/comments don't fit with what you're hearing/finding elsewhere, I truly hope you'll point out any discrepancies to me. That could help both of us!!
...we come off tight hole status on the 17th.
Actually, we come off the tight hole status when the parties agree, or on the first anniversary of the rig release, whichever is the earlier. That date MAY be the 17th (a date previously indicated by Squarek, I believe), or given the land sale on the 30th, it may be deferred to October 1, 1998.
... the sisters will be bought out at a premium.
I hope that they are, but I have no reason to believe that to be a high probability. (Please see my last post to this thread, too.)
... reasoning behind your belief in the 3-22 deep well.
Tight hole status was invoked during drilling operations.
There was no formal announcement of disappointing test results on the 3-22 well prior to recent land sales in the area. If Apache didn't have something deep, under our normal industry practice they would have publicly announced that.
The sisters have all indicated that additional land acquisition efforts are underway. You don't normally buy more land when you drill a duster.
They've physically completed the well for production and tested it. I saw the gas flare.
They subsequently returned and carried out additional stimulation of the well, at a cost that I believe to be in the order of $500,000. You don't do that without reason. When they had finished, they were sending more gas up the flare then they did on the first test. Again, I saw the flare.
The sisters have all completed private placement financings since the well was drilled. Sophisticated investors and/or insiders believe from all reasonable data and interpretations available to them that they will get their money back with a "tidy" profit on same. That, believe me, is a tough sell if you have a dry hole!!
At the FST annual meeting, Squarek commented something to the effect that he expected his shareholders would interpret the tight hole status as a positive event. (NOT A QUOTE!!)
TKE have publicly announced the Strachan well as one of 3 operational highlights for their first 6 months/98, also as a gas discovery, and also as a gaswell. The word "potential" was not used as an adjective with respect to the Strachan well/discovery.
During the drilling operations many rumors were on the street. And, all the stories "fit" together so nicely. That doesn't happen if the rumors are BS!
And, lastly and most importantly cause I need 1 stock to go up this year !!
Have a good weekend Werlick.
Later,
grayhairs |
