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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: grayhairs who wrote (3074)	6/16/1999 8:48:00 AM
From: Check	Read Replies (2) \| Respond to of 15703

Good morning Grayhairs, <<June 15 + 136 days = approximately October 31 for the Cal Canal TD. ZZZZZZZZzzzzzzzzzzzz !!>> With my immense understanding of drilling 'n things <ggg>, I would not want to disagree with the WML wizzards too much but.....you sure that 136 is not a typo?? I seem to recall the Temblor sands at Cal Canal to be at about the 15,000 feet elevation. I also seem to recall that the relief well took about 10 days to get down the first 10,000 feet. By what I hear, I calculate that Mr. Darling and the Nabors boys have been averaging over 300 feet a day since the whipsock. So if Cal Canal is anything like the ELH and the crew is as skilled, I figure we could be on top of the formation in about 36 days. Unless there is a hell of a lot more chert here than I suspect. <<...will target the Temblor formation to a total depth of approximately 18,000 feet.>> If I'm right about the 15,000 something Temblor, maybe the 'expected 136 days drilling time' includes a couple of months of completion and testing??? Hope...hope?!! Have a great day.

To: grayhairs who wrote (3074)	6/16/1999 9:07:00 AM
From: Dave E.	Read Replies (2) \| Respond to of 15703

Check/Grayhairs, I thought the 136 days a little long until I found out that the drilling has started with 26" pipe, which is what will also be used on ELH#2. The size is another solid indication of seriousness. Costs per well will have gone up significantly of course. (I hope noone gets too close to the open hole:)) BTW did you note the following recalculation of option prices by HTP? Looks a bit too self-serving to me especially if everyone is looking for at least a 4 bagger! (If the hole is dry we will at least have a use for it!) "Subject to regulatory approval, options to purchase 505,200 common shares, exercisable at $2.70 per share, and 491,427 common shares, exercisable at $2.58 per share, have been repriced to $2.10 per share." Dave