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Gold/Mining/Energy : Tusk Energy (TKE) -- Ignore unavailable to you. Want to Upgrade?

To: grayhairs who wrote (799)	8/26/1998 7:59:00 PM
From: kingfisher	Read Replies (3) \| Respond to of 1207

Easy...Easy now.. Grayhairs,we witnessed quite a few postings ago how you put away Mike M.Cubrilo.I must remind you that his reincarnate" RIK" belongs in the featherweight division. I am still laughing over insinuations that this play is being "hyped" Grayhairs, if you are hyping this play you certainly are doing a lousy job<ggg>.I mean Tusk trading at $1.12!You need to take lessons from whats his name over at Nesbitt Burns who was hyping Bre-X.If I am not mistaken Bre-X at its peak had a market cap of $4billion or so. In comparison Tusk has a market cap fully diluted of $13million Canadian pesos.Tusk is certainly no Bre-X. We are only a few weeks away from getting more info on Strachan,and let the cards unfold as they should..The drill bit churned through the equivalent of 15bcf of gas and that was not enough gas for Apache to declare "tight hole status".There had to be many meters of pay below the Leduc for Apache to have confidential status implemented. I continue to believe that the Strachan play has a lot of potential and look forward to many more of your posts. It is my opinion that Apache dealing with 7 Canadian partners for a 17.5% interest at Strachan is more trouble than its worth.This can not jive with their corporate criteria.They are better off pursuing a 100% interest in another high impact play .Not to discredit a rumored 400 bcf discovery mind you,but for Apache 17.5% of this well will not have much of an impact on their share price. Have a great evening, Richard

To: grayhairs who wrote (799)	8/27/1998 12:08:00 AM
From: RIK	Read Replies (1) \| Respond to of 1207

1) IMO in Alberta , a gas discovery of 100BCF or an oil discovery of 10 MM bbls would qualify as a MAJOR discovery. Each of these discoveries would have a present worth of approximately $75MM. 2) Not only do I believe that that we are not dealing with a MAJOR discovery but I also believe there is a strong possibility that only marginal reserves were encountered in the DEEP zone . [ for greater clarity read marginal as ' no reserves' ] I know you have reported field observations in the order of 3.5mmcf/d on production test ......sorry but I have read all of your posts on the Bearcat thread ...... if those are any indication of your field skills then you should not be surprised that I have discounted them totally in my DD . One of my grayhairs 'favs'.....Bearcat post #496. [notice all the capital letters ] "WELL, DON'T BUY THAT CRAP!! THIS WELL'S A REAL WINNER!! I DON'T CARE WHAT IT IS - MAYBE JUST A CONDENSATE RICH NATURAL GAS WELL CAPABLE OF LONG TERM SUSTAINED PRODUCTION AT, I'M GUESSING, 7 to 10 MMCF/D (WITH +/- 700 TO 1,000 BBLS/D CONDENSATE), OR, - MAYBE JUST A PROLIFIC OIL WELL WITH A LOT OF SOLUTION GAS THAT WILL BE CONSERVED AND SOLD. EITHER ONE RINGS THE CASH REGISTER QUITE NICELY, GENTLEMEN!!" 3) Proven Producing Reserves : 0* Proven Undeveloped Reserves : 0* Probable Reserves : 0* * no reliable information is available 4) ?????????? pass 5) 0 6) There is no reason to change my opinion in that respect . Quote from TUSK 1997 Annual report.......... " intermediate casing has been set at 3420 meters and that a number of potential hydrocarbon producing zones were behind pipe ." Until these POTENTIAL zones are tested to determine fluid content , productivity and reservoir size , reserves and NAV can not be calculated . grayhairs ....you know better !!!!!!..........check out your post # 407 on the Bearcat thread. "They can't hold off testing because they need productivity and other info themselves.Unfortunately, a pay interval that looks great on logs sometimes does not produce very well and sometimes a pay interval may even flow an unexpected fluid. As they say,"S--t happens"!! They can not take the risk of bidding big bucks for offsetting lands to later find out that this well produces only water, or that it produces a lot of water along with some oil or gas, or even that it is not capable of any production. That would cost a job or two, me thinks!!" I think that we will call this the " grayhairs S--t happens Theorem" Me thinks I'm gonna go fishing for a few days and forget about Stuff like this !!!!! Have a pleasant evening........you silly engineer you!!!!!