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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Roebear who wrote (49515)	8/19/1999 11:24:00 AM
From: Fitz	Read Replies (1) \| Respond to of 95453

Corporate Vision (CVIA) Message List Raging CVIA Links Rod Copeland ROCO Petroleum, Incorporated By: oilseekr Reply To: None Thursday, 19 Aug 1999 at 10:56 AM EDT Post # of 3581 Hodges No. 1-X Update.... Now that the split news is calming down.. I offer my congratulations to all stockholders! Keith is really doing a great job. I spoke with the Railroad Commission in Austin, and they are processing our application for the drilling permit. There was a glitch resulting from the numerous different fields that we were required to permit in. That has been resolved and the permit should be issued by next week. I have struck a deal for acquisition of water to use during drilling. One of the adjoining landowners has two small water wells from which we will get our fresh water. I am planning on setting a storage tank at one of the wells and pumping water from both wells into the tank, which will be our reservoir during drilling. We anticipate using 350 to 500 barrels of water per day during drilling. I spoke with the geologist of a company that drilled a well less than a mile from our location to the South. They had some trouble with their water when drilling their well which could have been averted had they had the water analyzed prior to starting their mud program..... So we will be having our water analyzed prior to drilling! I have not talked with any of the field people in regard to the production rate on the recently deepened well to our Northwest. I have been trying to catch up with the partners and get all the legal paperwork put to bed. When I hear something about this well I will post it to you. I know you are all anxious to get this underway, and believe me, you are not any more so, than I am! Please bear with me at this time. This is one of the most critical periods for me. I have to take each step one at time to ensure there are no screwups. All of the funds have not been received as yet, but should be in within a few days. At that time, I can enter into the drilling contract and get a realistic date that the rig will be moving on location. We are still running pretty much on schedule. Of course part of our timing will be determined by rig availability, which at the present time, looks good. The posted price for oil has been firming up between $18.50 and $19.00 per barrel for our crude. That is very encouraging. I originally used $17/bbl for my economic evaluation of the prospect. So, we are looking better all of the time. Now we just have to make a well! Updates will be coming more frequently and drilling reports after we get started "turning to the right". Hope this finds you all well, and reaping rewards in all your endeavors. Best Regards, Rod Copeland ROCO Petroleum, Incorporated Abilene, Texas