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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: JL who wrote (438)	12/6/1998 1:05:00 AM
From: Rocket Red	Respond to of 15703

Thanks For the Update JL If this holds out to be true were going to be flying high The excitement is building Ye-Ha

To: JL who wrote (438)	12/6/1998 1:19:00 AM
From: JL	Read Replies (3) \| Respond to of 15703

In response to the news post... The key here is that the SIZE of the reservoir is SPECULATION. There is no way to know how large the gas reservoir is without testing. Whether it proves out to be 500 Bcf (Billion cubic feet) of 5 Tcf (Trillion) is completely uncertain. There is no reason to accept the higher number over the lower number. The positive side is that without an actual flow test to tell us how much gas is here we can assume it's a fair amount because it's been burning off 100 MMcf/d (million cubic feet a day) and this may be conservative and maybe not. At that rate we know that the reservoir had at least 1.4 Bcf and obviously has more. How much more???? That is the question. It could burn out in two weeks. It could continue for years. There's no way to tell yet except to buy into the calibrated eyeballs and eardrums of Bob and Betty Lunch Bucket who have seen it and say it's not diminishing. Financially and in all other ways there's a big difference between 500 Bcf and 1 Tcf. The difference in $$$ is about $1 followed by 9 zeros. A Tcf on todays market is worth about 2 Billion Bucks American. Not too shabby. Again... I reiterate that there is no way to know what's there yet. It could be 100 Bcf or it could be 5 Tcf or more. NO WAY TO KNOW YET! Remember that this is all speculation right now until there is an actual technical measurement. Looking at the flair and listening to the jet engine like sound is not a measurement. ("Betty...It looks as big today as it did last week." "It does to me too, Bob.") If it comes in around the 5 TCF range, it will be for the entire field not just this single well. It's extremely doubtful that the field would be that large but it IS possible. There are a couple in the world. In that case, it's a world class find. At 500 Bcf it's a US class find. Speculation is going to drive this stock for a few weeks yet until the truth is known through a genuine flow test. Watch close and be prepared to bail if the news isn't World class. You'll make a bundle. Buy it on this SPECULATION and then ignore it and you might lose your shirt. JL