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Gold/Mining/Energy : Westfort Energy Ltd. (WT-T) -- Ignore unavailable to you. Want to Upgrade?

To: AL Berta who wrote (948)	7/31/1998 12:18:00 AM
From: bhg	Read Replies (1) \| Respond to of 1288

Hi Al, The +/- 40mm/bbl you speak of are "primary recoverable" which normally turns out to be only 25% of a fields total reserves. There are well over 100mm/bbl of oil at the Pelahatchie field according to Harold and he does call it the "single largest known and proven undeveloped oil and gas field in the entire continental U.S." Whitney never puts 100mm bbl in the press releases because as he puts it "tertiary recovery is years away and we only want to claim what we know we can do right now". I still put WT's saleable assets at over US $2 billion. They have started clearing ground for the third well! Best Regards, Bruce p.s. The 7th is about two weeks too soon.