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

To: grayhairs who wrote (13072)	12/5/2000 9:12:25 PM
From: MIRU	Read Replies (3) \| Respond to of 15703

Dear koan, Thanks for the moral support. I was not suggesting that deepening BKP#2 was a bad idea, or that a 30 day delay in production was a big deal. What I am suggesting is that the ELH reserves are so big that 10 wells at 15 mmcf/d won't produce those reserves fast enough to give us good present value of the ultimate cash flows. 30 year reserve life is for grandkids - let them find their own damned gas! If BKP#2 can produce faster and from more reserves for having gone deeper and being better plannned, that's a good thing. To cut to the chase, the (I think )planned Dec. 7 meeting in Bfield of the Cal.dept. of oil, gas, etc. is key. It "legitimizes" this play, might lay out a "pooling"/development plan, and may approve closer than one section spacing, maybe 160 acres. IMO this is a really big deal, not only in realizing maximum present value of this important discovery, but in getting some useful PR coverage down in the states, where as far as I know, only one firm covers one player - J.D. Edwards/PYR