Read the following, am a share holder already and see if anyone is able to respond or discuss further.
To: Kerm Yerman (5527 )
From: Hatsoff
Monday, Oct 26 1998 2:44PM ET
Reply # of 5528
What is your, or anyone who follows, opinion on Enterprise Development "ED" on
Alberta. I think it is ready for a very large up surge, lacks promotion, test on well #1X
had a restricted(undersized equipment) oil flow of exceeding 2000 BOPD, more like
3000BOPD.Latest company releases indicated that once the proper large size
production equipment procured in Houston, gets to site in Gautemala within 7-10 days
and gets assembled the well is going to bypass further testing and go into straight
production mode, have sales contracts in place already. Well #1X expected to produce
approx. 3000 BOPD from say Nov.15/98. Then company has cased wells # 2 & 3 of
which #2X well has also been tested alongwith 1X in AUG/98 at a rate of 170 BOPD
requiring unplugging the casing similar to what has been done for 1X. Information is that
out of all three wells cased so far, 1X & 2X have pumps mounted on them and
company plans to bring all three into production before end of next year; 1X- Nov/98,
2X- 1Q/99 & 3X-4Q/99. The expected production and sales rates are Dec/98 @
3000, Mar./99 @ 6000 BOPD & DEC/99 @ 10000 BOPD.Approx. 18 more targets
validated on this previously Getty Oil owned lease i early 1980'S which ED plans to drill
next year,reserves of approx. 1 Billion barrels, meaning the oil flow data above can be
the minimum production rates. I say $5-$10/ share by Feb/99.What do you guys think.
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