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Gold/Mining/Energy : Nordic oil -- Ignore unavailable to you. Want to Upgrade?

To: jacq who wrote (20)	7/14/2008 11:31:29 AM
From: jacq	Read Replies (1) \| Respond to of 24

I forgot to mention that there is a rail line that runs alongside highway # 9 which goes through Hudson Bay to Preeceville and to points south. If quantities of oil are found on the property a spur line of about 1 mile can be quite cheaply built and costs will be lower than trucking. One section of land is equal to 640 acres. One hundred and twelve thousand acres equal 175 sections. Nordic has special exploration licences on about 100,000 acres. sometime in the near future they wil have to surrender some of these licences. How many licences they surrender will depend to a degree upon how successful they are in finding commercial quantities of Oil or Gas. It is my understanding that they will keep more sections if they find commercial quantities of natural gas. As I remarked in my last post Oil Springs Ontario produced 9,000,000 plus barrels on a 1200 acre field or less than 2 sections. Much depends on location. Nordic's first well was drilled on a structural high. At that time they were searching for a low risk gas play. From what I understand Nordic was not searching for oil at that time and they did not drill to the bottom as they did this time. From what I have read to date that gas zone was not fully investigated at the time. It might have been a commercial success if it had been stimulated properly, and if it had been given sufficient time for the drilling fluids to get cleaned up out of the formation. If one or more of these wells produce commercial quantities of gas they get to keep more sections of land because they are gas exploration permits. Even if they could keep half of their land it would be a big exploration area. jacq