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

To: okey who wrote (4282)	8/25/1999 7:48:00 AM
From: Check	Read Replies (1) \| Respond to of 15703

Morning okey, <<The size of the casing at the well will limit production to a maximum of 50 million cubic feet per day (mmcf), which still would be one of the largest producers in the state.>> Even at 40 mmcf/d the well would generated enough cashflow to drill another one in less time than it takes to complete it. And here's the added bonus: I believe you can currently have only one gas well per section in California. But if the Berkley #-1 proves as we expect that there are several more productive zones at ELH, I can easily see getting the permit to have another deeper well drilled right next to our ol' Bellevue #1-17R, producing another 50 mmcf/d a year from now. At that point, the "blowout" section alone would be generating over CD $ 100 million per year in cashflow for the JV partners. That's if the price of gas doesn't go up. (ggg) CIO