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Gold/Mining/Energy : Anvil Resources (V.ANV)
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To: overbyte who wrote (2057)12/6/1998 7:10:00 PM
From: SnakeInATuxedo  Read Replies (1) of 2214
 
Because he obviously hasn't put a pencil to the numbers, and also doesn't understand the homogeneity of the Wilcox Trend, thus his contention that subsequent wells are as "speculative" as the first, or any well for that matter. The "risk" now is mechanical failure as each well is drilled, tested, completed, and hooked to the gathering system. That's the extent of the "risk". Punching 8000' wells in Webb County is about as exciting as cutting out Christmas cookies on the kitchen table. The first well took way longer than it should have, and there's plenty of blame to lay at Anvil's feet for that, but the process will go more quickly now. It's good that he's getting to see what happens when things go terribly awry, as they did for KOB and the gang. The notion that insurance is going to cover their losses is fantasy. Insurers will only stand so much pain, then it goes up the insured's gazoo, as well.
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