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

To: Check who wrote (6264)	10/28/1999 12:48:00 PM
From: Salt'n'Peppa	Read Replies (3) \| Respond to of 15703

Morning Check, I am sure that a guy like you, with a nose for news, already knows what's up today. We have a flare again at ELH, as they continue to clean up the wellbore. BKP #1 has now overtaken Cal Canal. It is doing over 20'/hr (at 15,370' earlier this morning), screaming towards the next casing point somewhere around 17,100'. Cal Canal is plodding along, looking for the porosity in the Temblor. People are starting to get skeptical of CC on the threads, but one has to try to understand what is happening. They are drilling in uncharted territory. Cal Canal #1 is already by far the deepest well ever drilled at Cal Canal. The Temblor Group has huge porosity at depth all over the San Joaquin basin. It is just turning out to be a little deeper here than they thought, that's all. In my opinion, there is no way that they can drill to their expected TD of 19,000 feet and not encounter Temblor sands. The shales overlying the Temblor provide an excellent seal (trap mechanism) for creation of a reservoir. We are already seeing in the fractured shaly limestone that they recently drilled through, some promise of what is to come...namely GAS! I am encouraged that they have been forced to increase their mud weight, to combat the significant gas that they are encountering. IMHO, it is just a matter of time. S&P