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

To: Terry D who wrote (78318)	11/9/2000 12:25:20 PM
From: JungleInvestor	Respond to of 95453

News out today from SEV followed by posts with commentary on the news by two of the Yahoo SEV Board's most informed people: HOUSTON--(BUSINESS WIRE)--Nov. 9, 2000--Seven Seas Petroleum Inc. (AMEX:SEV - news; TSE:SVS.U - news) announced today that it reached a total measured depth of 9,250 feet in the re-drill of the El Segundo 6-E well, which is located approximately 7 kilometers south of the southern most productive well in the Guaduas oil field. During a 46-hour pump test, the well produced oil at an average rate of 400 barrels per day from the unstimulated open hole Cimarrona formation. The Cimarrona is the productive formation of the Guaduas oil field. Although the preliminary production rates are encouraging, the Company said that it is still premature to determine the well's sustainable production capability, or its commercial potential. Seven Seas has shut in the well for a pressure build up test, and plans to commence longer term production testing in approximately two to three weeks when the drilling rig has been demobilized. Deliberate or stoopid? by: oilperson (55/M/London) 11/9/00 11:23 am Msg: 15492 of 15492 Those are the two questions circulating in oilperson's mind this a.m. regarding the news announcement. SEV is either deliberately trying to understate the announcement, or is incapable of issuing a factual press release designed to give the shareholders an accurate picture of well status. For starters, the pump SEV uses initially in these tests is designed to produce 500 BOPD and their standard MO is to produce until the well "cleans up" or until all drilling fluids, mud cuttings, etc. have been produced back. Then, and only then, SEV will run larger submersible pumps in the well and ramp up the production test. Historically, SEV always conducted their production tests for 3 weeks, and this one will be no different. Unfortunately, this test is being disrupted by the need to demob the drilling rig. The testing announced this a.m. covers only the first week or so of testing, with at least two weeks of higher volume testing remaining after moving the rig from the location. One can only look at what was not included in the announcement and wonder who's side these guys are on! Some Fluff by: macaroni_string (19/M/GoodoldUSA) 11/9/00 11:58 am Msg: 15495 of 15495 To refresh memories. On the DISCOVERY well, Hefner insisted they keep pumping when all others wanted to plug and abandon because the well appeared to be non-commercial. This well was tested (pumped) for about 50 days before it finally cleaned up and became commercial to the tune of 3,415 BOD. What kind of PR could SEV have issued during the first week of that testing. It's too early to draw any definitive conclusions. Force me to make a prediction.... then I would say it's looking pretty good (MHO) SEV will have a commercial well with the 6E The good news is 1. There IS OIL and 2. There is NO WATER. -------------------------------------- By the way, for those wishing to follow the ongoing Florida recount, the following URL for the Washington Post is a good one. Just keep refreshing the screen. washingtonpost.com

To: Terry D who wrote (78318)	11/9/2000 12:31:24 PM
From: excardog	Respond to of 95453

$10 dollar oil? WSJ has raised the point that the wall of oil is headed our way come spring does anyone on this board believe in this scenario? I for one do not. Could be proven wrong I guess but after going over more and more 3rd quarter earnings reports I'm seeing lots of declines in oil production and some gains in gas. This would tie into what sort of drilling has been going on. So with lower domestic oil production one would assume our country will become even more dependent upon outside sources for our ever increasing need for oil. This is not a good thing as we all are aware. Several posts this week have shown some large fields world wide being shut in ,100's of 1000's of barrels in fact. I continue to believe we are dangerously close to a world wide oil crisis and fully expect to see a "melt up" in the NYMEX futures pits in the not to distant future. We must drill for domestic oil reserves soon or surely face the prospect of serious economic dependency on the Middle East an area that would love nothing more than to "control" our futures. Pardon the oil babble.

To: Terry D who wrote (78318)	11/9/2000 12:32:32 PM
From: Terry D	Read Replies (1) \| Respond to of 95453

With all the confusion, how long until Saddam decides to pick a fight? He already has the commercial flights violating the no-fly zone. Just about the perfect opportunity for him to kick it up to the next level. See who is in charge. t d

To: Terry D who wrote (78318)	11/9/2000 8:11:54 PM
From: Douglas V. Fant	Read Replies (4) \| Respond to of 95453

Terry, Wow. Florida is now going to have a "recount of the recount" in order to cowtail to the Gore campaign. Basically the issue comes down to the Democratic Party's defeat in the 1994 Congressional elections. As a former member of the Carter Administration I can tell you that the Democratic Party has never been able to accept that the people would willingly and voluntarily vote the Republican party into power. Al Gore's attitude and behavior's which are growing increasingly aggressive and tawdry are essentially rooted in that same mentality. The Democrats did not lose Florida "fair and square" but were "stabbed in the back" by subversive forces much like the Germans believed that they were "stabbed in the back" and thus lost WWI. It's not about fairness- It's about Al Gore's lust for power and that he will not stop at saying anything or doing anything, including challenging or subverting our political system in order to get what he wants... believe me they'll keep "recounting" Florida until Al Gore wins. Shades of the "mystery" ballot boxes in south Texas in 1948 that miraculously appeared and voted Lyndon B. Jonson into the U.S. Senate position. At this point I personally believe that the spectacle of Al Gore is becoming very unseemly....