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Gold/Mining/Energy : DALTON RESOURCES DAL:ASE -- Ignore unavailable to you. Want to Upgrade?

To: grayhairs who wrote (266)	4/29/1998 1:45:00 AM
From: Michael M. Cubrilo	Read Replies (1) \| Respond to of 486

All I can say Grayhairs is that alot of the gravy wells and fields are gone. That is not to say that their is not alot of opportunity out there. Far from it. There are plenty of opportunities out there.... more than there are fresh sets of eyes to look at all the information. Sort of like when you get very used to something, perhaps walking by a crooked picture for weeks, and then someone new comes along and says "Hey, that picture is crooked!" That is why alot of small companies can come into supposedly "exhausted" plays and come up with new production. A good example is Probe Energy. That being said, the new pools are smaller, the pressures lower, the reserves lower, etc.... Deep foothills drilling is where the elephants lay. Too bad sulphur isn't worth $140/tonne like it was in the early 80's, these sour fields would be cash cows. But alas, sulphur is more like $40 FOB Vancouver and is instead, a COST of doing business. So a 30% H2S well is much less economic than a sweet well. 30% is shrinkage which costs you money to handle and treat. mike