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

To: Ritch D who wrote (5177)	9/27/1999 2:41:00 PM
From: Brumell	Respond to of 15703

Thanks for the posts S&P, ogod and Ritch D. Every piece of news helps. Looks like there may be some delays for those sitting on the edge of their seats but what else is new. Reading old posts on this thread over the weekend, there was one recurring theme. Things always took longer to get done than most people estimated. In my book, no problem. Sure I'd like to see things go faster but I'm not the guy doing it. Things take time and this is high risk. What's evident is this play has depth. They'll test ELH-1R. With luck the tests will go well but they won't be definitive. It's too bad they were not able to drill deeper into the Temblor and learn more geology but it didn't happen. Meanwhile, BKP1 is on the way down with heavier equipment. We'll get our answers at ELH given more time. Then there's Cal Canal. Ogod says Busby figures 98% chance of gas, Ritch D quotes him as saying higher than 10% porosity. Let's hope Busby is right. Seems to me the big point is ELH and GSJB plays have been accepted. Berkley's web site claims they'll be spending 25% of their exploration money in the area. Other players are moving in. The idea of very large, deep, gas deposits is now accepted. The market may fluctuate hourly but think I'll relax and look 60 - 90 days ahead. That's a short time horizon but what's needed to assess what they have. It also makes it easier to play this market and buy on weakness. Bob