To: grayhairs who wrote (257 ) 4/28/1998 8:06:00 PM From: Michael M. Cubrilo Read Replies (1) | Respond to of 486
Apology accepted. Perhaps I am being misunderstood. I enjoy threads where there are different points of view, and I have lost money in the past by being emotional and investing on "hope". Grayhairs, I also secretly cheer for the underdog. However, my hard earned dollars are also very important to me and my brain and logic tell me that the chance of Dalton hitting are about 1 in 10. I certainly "hope" they do hit, but one must be realistic in investing or prepare to lose ones shirt. I heard that Dalton also was involved in drilling the Tsu Tsina well and was trying to confirm the fact. That does not mean that they have poor results or good results... simply trying to confirm the information. Yes, we drill our share of dry holes. Everybody does. Shit, before Leduc was discovered in the 1950's, Esso drilled something like 140 dry holes IN A ROW!!!! With the advent of better technology and 3-D seismic, we are able to go into previously "drilled up" land and come up with sweet spots in the reservoir or find previously overlooked pools. I will continue to keep my ear open. I am a gambler at heart... I have an investment in Wolverine Energy (WVE) and they are trying their luck in the Ghost River area West of Calgary. Something is up with WVE as they traded over 1/2 million shares today and were up a bit. Normally, little to no volume. Hmmm... results are pending on their recent horizontal reentry of an existing wellbore. WVE has current production and cash flow. I agree with RIK in the final analysis of Dalton.... it is very high risk... O reserves & production = 0 NAV. Trading on pure spec. I wish I had bought at .15 BEFORE the excitement. Lots of excitement out there. I have no shares in the Dalton play, but will monitor and jump in if warranted. mike