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

To: Rocket Red who wrote (3809)	8/1/1999 4:05:00 PM
From: grayhairs	Respond to of 15703

I think if you reread a schedule I posted a long time back, you'd find that they are pretty much on track with my ZZZZZZZZZZZZ's !! I think they stopped drilling where they did to set an intermediate casing string. This is not at all an unusual event. Why do you think they stopped drilling ??? I also think that they have the intermediate casing landed now. And, I think they have it cemented and they'll soon drill out and start drilling through the Temblor section. I think that'll take them about 15-20 days. I also think they'll want to log the hole after they are at TD. I do NOT think that they will run any DST's. I think that they will want to set production casing and I think that'll take them about a week. So I think they still have roughly one month's work left on ELH #1 before they'll release the drilling rig. Oh, by the way, then I think they'll want to complete and test it. That'll take a MINIMUM of 30 days from the release date of the drilling rig. So, you can see I'm still YAWNING and ZZZZZZZZzzzzzing. I'm not saying, and never did say, that the stock prices won't change in the mean time. Of course they'll change !! But, unless they run into some major difficulty that stops them from reaching their target TD you sure will not see any ELH #1R flow test results in August. They might announce some expected "net pay" numbers around the end of August but I doubt that you'll see any revised reserve estimates (other than "potential" reserves) released by the JV until after the completion and testing operations. And, until the reserve estimates and flow rates are announced by the JV (not by the rumour mill) the share prices will not reach their "real worth" (whatever that is). JMHOBWDIK.