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Technology Stocks : Pinnacle Oil International - PSFD (SFD Technology)
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To: Dilution who wrote (35)5/27/1999 11:52:00 AM
From: Dilution   of 51
 
Shoal Point analysis also posted by me in Canadian Oil and Gas thread:

RIK, here is the scoop on Shoal Point. Call Pan Canadian and prove me wrong. I get this from Pan Canadian itself. Shoal Point had a fault running west to east. There were two zones of interest to the north of the fault. The upper zone was the primary zone and the one targeted by the SFD. Pan Canadian drilled to the south of the fault straight down. They encountered structure to the south of the fault that was unanticipated and they got lost. (This structure was the part tested in the press release.) When they got their bearings, they punched through the fault into the north. However, the thrust of the fault was not as steep as they anticipated and they ended up inbetween the upper and lower zones. They headed down from there and hit the secondary zone of interest, the lower zone. The SFD predicted the lower zone was dry. It has not been tested but it appears to be dry. (This in the press release is the testing to be done further.) The upper zone, the primary zone of interest as indicated by both seismic and the SFD, was never reached. The bore hole is too twisted to be used again to reach the upper zone. So they lick their wounds, never having reached the primary zone of interest. The question is, will they drill again? Don't know.
-Dilution

Disclaimer: For RIK, this is for educational purposes only. For everyone else, for entertainment purposes only.


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