KOB.TO - East Lost Hills & GSJB joint venture Message Board

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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture

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To: Check who wrote (1386)	2/5/1999 12:43:00 PM
From: Salt'n'Peppa	Read Replies (2) of 15703

Finally, some good news. It has been brought to my attention that Wednesdays "gathering of the partners" has resulted in a decision to spud a third well asap. This news was made known to me by the same reliable source that has proven his worth repeatedly. There has been some rumour about a third well lately, but this is now fact. It is also my understanding that the next location is already built. I don't know when a formal announcement will be made. Related to the above, it is interesting to note that since Berkley announced their "farm-in" deal with Armstrong Energy 3 days ago, BKP shares have risen 10.6% to $9.35. It is obvious that this highly successful, respected oil company is very bullish on the ELH play. So much so that they are willing to carry Armstrong's 17% capital costs to drill the field, all for a bigger piece of the pie. Also, they are going to drill a property next door to ELH, in which they have identified similar deep targets. In fact, they even said in that press release that they hope the joint venture on the new property yields targets as large as ELH. That is outright admission that they believe thay have a big one, in ELH. Why then, when this affects all partners in ELH, has nothing moved? Surely now is the time for the somewhat educated investor to be stocking up on the junior (more leveraged) players. Rick.

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