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Gold/Mining/Energy : Bearcat (BEA-C) & Stampede (STF-C) -- Ignore unavailable to you. Want to Upgrade?

To: Louie J. who wrote (415)	3/8/1998 9:24:00 AM
From: Bearcatbob	Respond to of 2306

Louie, Bearcatbob fears it will be a month based on the data available. Similarly I think there is the great likely hood that there will be a gas well. The question is how big. In order to move BEA and STF it will take one huge gas well. The quantification of what we have to the extent that it will drive these stocks is what I think we will have to wait for. If you do some classical valuation analyses ie EPS, Cash Flow etc. and recognize that there are approx 50 million shares you can see that it is going to take a number of big wells and a large reserve to really move these guys. Therefore, not only do we need a big well now, we need a bunch of them. Remember, the No. 1 Bearcat well is a big sour gas well that has not moved the stock - perhaps only created enough interest to continue the hunt. I would appreciate the thoughts of Grayhairs, Jim P yourself and others on this thread re my thoughts as expressed above. Bob

To: Louie J. who wrote (415)	3/8/1998 10:15:00 PM
From: grayhairs	Read Replies (3) \| Respond to of 2306

I had the following observations on Sat. 1) A loud 20+ foot flare, mainly yellow with signs of condensate\oil. 2) A tanker (with pup) was pulling off the lease presumably with a load of condensate\oil. Roughly 150 bbls after only about 14 hours of cleanup flow is not bad boys!!! 3) Computalog was on lease presumably preparing to production log. Note that Esso will have to shut the well in (Sun and probably Mon, too) before they can start the 4 point flow test from stabilized reservoir conditions. So, not much more to be learned from field visits for a couple days and one should not expect to be seeing any more flares until sometime Tuesday. The well is definitely a keeper!!! At a minimum, a very, very good gas well with a high yield of condensate. (But, do note that the well may be yielding some oil, too. I can't tell yet.) Unlike the BEA\STF Hartell sour gaswell which was miles from a tie-in point (and so remains shut-in today), this well is "sitting on the doorstep" of the Quirk Creek Gas Plant which has lots of capacity and is operated by, you guessed it, Esso!! Assuming 30 days for the 4 point test and pressure build-up, 60 days for design and approvals, 120 days for procurement and construction, this baby can be generating $$ before year end, IF the parties fast track it.