Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: 1st.mate who wrote (4057)	8/17/1999 9:31:00 PM
From: Stocker	Respond to of 15703

KOB was down but BKP and POU were up today. Could it be that players are switching to the "safer" bets?? Or, maybe it's because KOB and RLP only have exposure to ELH and not Cal Canal which is at 12350 feet today per BKP's Q2 report. They say only 2500 more to go on that one. Just thinkin' out loud. Could also be institutional buying in BKP/POU. Maybe they feel they know more than the little guys in KOB etc.

To: 1st.mate who wrote (4057)	8/17/1999 10:55:00 PM
From: grayhairs	Read Replies (1) \| Respond to of 15703

Yes matey, this project has certainly had it's share of difficulties. But hey, "chit happens" !! When it does, you just wipe off your boots and keep slugging away !! I know it feels like it was months ago, but it may be useful for all threadsters to remember that the JV started drilling into the Temblor with this relief well just 4 days ago !! Now, let's just think about some of the positive things that have been accomplished in that time. They've identified 2 probable gas bearing zones. They've lost (and re-established) circulation in both zones. BTW, this tells us that both zones will be capable of prolific production rates. They have also determined the presence of highly porous sands (capable of storing large volumes of gas) in both intervals. They've concluded that there's about 100 feet of net pay in the top sand. They've flared gas and from the flame color they knew it was rich in heavier hydrocarbon components. So, they've probably also collected and analyzed gas samples and by now confirmed that their gas will command a nice "premium" price !! Since they know that the top sand is in the order of 100 feet thick, and since they have already produced a large amount of gas, condensate and water from that sand during the blowout (without any apparent pressure depletion), they know that the sand has a large areal extent. And, this bodes well for the probable areal extent of all deeper sands which will be penetrated. Now, that's not too damn bad for just 4 days work in my book, BWDIK. These crews have 15,000+ psi of explosive natural gas coming at them if they make the least little "error" !! I for one sure as Hell am not about to stand on that rig floor and tell the driller and the roughnecks to "cut some corners and speed things along a bit" !!! Let's all just try to recognize and appreciate what these guys have actually accomplished in such a short time and under truly adverse circumstances !! It won't be tomorrow, but it won't be too long before ELH #1 is producing 50 MMCF/d and ringing the cash register to the tune of roughly $120,000(U.S.)/day !! Good things are worth waiting for. BTW, I recall playing the Mobil Call options for a period of about 3 years when Hibernia was under exploration\development. Oh what a roller coaster ride that was too !! And, a very profitable ride, too. <gg> Have a pleasant evening, matey. Later, grayhairs