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

To: Salt'n'Peppa who wrote (3242)	7/5/1999 1:10:00 PM
From: STLMD	Read Replies (1) \| Respond to of 15703

Rick, I did not take into account any dry holes but also was purposefully conservative on the number of wells per year. The percentages are APO percentages and thus the reduction in the amounts. I guessed to the best of my recent knowledge of the total diluted shares, thanks for the correction. Even if assumptions are off 25% we're dealing with a monster here. And I didn't even begin to factor in the exploration outside ELH.gggggStephen BTW... I'm getting conflicting data re KOB from three different sources. Would someone please post the current share price and volume traded so far today? TIA Stephen

To: Salt'n'Peppa who wrote (3242)	7/5/1999 5:18:00 PM
From: johnlag	Read Replies (3) \| Respond to of 15703

Barron's Article, July 15, 1999 I retyped the following from an article in the Barron's that came out today. (page 28) Excerpt from: Interview with Thomas E. Claugus, who runs Bay Resources Hedge Fund for Atlanta based GMT Capital. The interviewer is discussing energy companies the fund holds. Q: Any more energy companies? A: Our last one is also atypical. It is a binary bet on exploration success. However, the upside is so large that we couldn't resist participating in a recent private placement of Pyr Energy. We own just over 5% of the approximately 19 million fully diluted shares of the company. Scott Sigdahlsen, who runs Pyr, is a geologist formerly with Chevron. Pyr has close to a 10% interest in a recently drilled prospect called East Lost Hills in the souther San Joaquin Basin in California. They had one of the biggest blowouts in history, which took Red Adair and his team months to control because of the high volumes of gas and fluids. They just got the well under control a few weeks ago. The well was drilled on a large structure 10 miles long to a depth of 17,640 feet. Very few wells have been drilled to this depth in California, so this could turn into a broader play. Pyr has already leased up part of another structure and is participating at a 3% - 5% level in the three other prospects. Pyr's partners in this play are some of the pre-eminent explorationists from Canada, including Berkley and Paramount. We own shares in both companies and can tell you they are very excited about the potential at East Lost Hills. Reserve estimates, which are really wild guesses, are zero to five trillion cubic feet of gas. We estimate at one TCF, that Pyr would be worth $5 a share versus its current price of around $2.