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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (5542)	12/18/2001 8:46:52 PM
From: Frank Pembleton	Read Replies (1) \| Respond to of 36161

Dear Russ ... about Pan Canadian's potential reserves ... they're just in the kick-off stage with Christina Lake, apparently there's an estimated 3 billion barrels of bitumen in this project alone. They're in the experimental stage and they are using SAGD technology. halliburton.com Another potential bonanza is the Cold Bed Methane project which is now being explored with a planned 50 wells to be drilled here in Alberta. PCX elected to bring in Quicksilver (KWK - NASDAQ) as a partner because of their experience with the extraction technologies. Typically CBM can only generate 2 to 4 psi of wellhead pressure, I believe this to be shy of the required 1400 psi needed for distribution through a pipeline transportation system. So ... right from day one CBM needs compressor assistance, the finding cost are the same but delivery is a different story. They do estimate about 20 to 30 Tcf of methane reserves which makes this project very similar to the Powder River Basin project in Wyoming. biz.yahoo.com As you previously noted the 300 to 500 million barrels in the North Sea and the tremendous potential of Atlantic Canada makes this company incredibly desirable. Btw; for a mining guy ... you are certainly up to speed on the O&G sector ... nice work. Regards Frank P.