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

To: StockJock-e who wrote (5950)	12/23/1997 10:11:00 AM
From: pz	Read Replies (1) \| Respond to of 95453

StockJock-e, I am slightly familiar with the Austin Chalk. What can I help you with? Paul

To: StockJock-e who wrote (5950)	12/23/1997 7:44:00 PM
From: William B. Lowrance	Respond to of 95453

I've had experiences with the Austin Chalk Formation. In fact I still have a little working interest income from about 7 or so years back. Its extremely tricky, to say the least. Most is now horizonal drilling and comes in like gang busters, but dries up very fast in a matter of a few weeks. What do you want to know? Because of the activity on this thread I'd suggest you using my Email which is on my profile. Bill

To: StockJock-e who wrote (5950)	12/24/1997 1:29:00 PM
From: PuddleGlum	Read Replies (1) \| Respond to of 95453

StockJock- I haven't read all the way through the last 150 posts, so maybe you've got your answers already on the Austin Chalk, but here goes: Chesapeake and SFY, among others, drill in the Chalk. It extends over part of Texas into Louisiana and the wells are very prolific for a time, but they dry up after 5-10 years. Seems that they serve a purpose of increasing short term cash flow while the e&p companies find longer-lasting reserves elsewhere. I understand that the fracturing method used is critical to the flow rates obtained, but maybe that applies everywhere, not just to the Chalk. SFY has a couple of wells in this formation that produce 10mm cubic ft of gas per day, which seems pretty good to me. Looks like it's a good thing that I ran out of money, otherwise I'd be way in the hole on CDG, FGII, and EVI. As it stands, I'm trying to decide whether or not to dump my few shares of TBI for a tax loss of about 33%. But I'm with you all in spirit, 'cuz I've lost just as much in semi equipment stocks as many of you have in the drillers. Steve