Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: Sycamore who wrote (5344)	11/25/1997 9:47:00 PM
From: qdog	Read Replies (2) \| Respond to of 11888

Pennzoil. And they enhance it by 3-D and still were optimistic. That is in the Caspian Sea itself. Look, siesmic is a wonderful tool the industry uses, but it's not a holy grail. The ONLY guarantee is drilling the well. Yes, I was involved with a prospect that was siesmic by Russian data. It was evaluated and confirm; yet it yield not much when drilled. Siesmic is a wonderful science, BUT it not the final answer. The industry still has a 1 out 3 success rate in drilling. That means 1 producer for every 3 wells drilled. Then there is the actual flow rate of that producer. IF it's only flowing a 1000 barrels a day, then you are drilling 100 wells to achieve 100,000 bpd production. There is a intrinsic cost to all this. Naturally if it's a 10,000 bpd well then we are talking only 10 wells. In the long run, which is cheaper to maintain and cost effective????? In other words it breaks down to 33% chance of finding something. Now break it down for yourself.