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

To: ogod who wrote (4230)	8/24/1999 8:54:00 AM
From: STLMD	Read Replies (2) \| Respond to of 15703

ogod...The statements from ElK and HTP today indicate a couple of things about the payzone. First, porosity is greater than believed, pressure remains at 15000 psi, and the payzone is still believed to be 2600 ft. The Berkley/Nabors rig expected to be spudded this week has all the requirements for deep drilling of the Temblor as learned from ELH1 and ELH1R wells to date. Casing and production will allow the JV to finance further exploration and they will get to TD. Look at the rigs in the Gulf of Mexico at 22000 ft and greater with flow rates of 120 millioncf/day. They are not blowing up. I have no expectation of failure in this case, just much more evidence along the way of confirmation of a HUGE discovery. As I see from your profile, you are a trader, so I assume you would be looking for a more rapid price appreciation and volatility but I guess we all can't have everything...gggg...Stephen....PS...Any engineers or geologists out there please correct my statements if inaccurate. I believe the gist to be correct however.