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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 (449)	12/6/1998 5:13:00 AM
From: Salt'n'Peppa	Read Replies (1) \| Respond to of 15703

JL, We're not all counting sheep, mate!!! I'm out here in the Middle East where it is 2pm. You're not the only one awake. You make some very good points, but Chevron has by no means given up the ghost on this one. They leased out the land (for dollars), and have a 25% override on any production, whilst assuming absolutely none of the risk. I'd say they were quite smart. As far as your pressure drops and small balloons go, you are quite right that a 0.5% drop in pressure over two days can indicate a small reservoir (in a well flowing 1 MMcf/day). In this case, however, our pressures and volumes are immense and we have been going for 14 days now. Eye-witness (Bob and Betty Bucket was it?) accounts told of the flame visibly growing in the early days. I don't know the answer here. I understand you are playing devil's advocate and someone has to, but I'm afraid no-one can "burst my balloon" right now, I am so pumped about this play. Thanks for the input, though. Keep 'em coming. PS: Was that the fore-deck or the aft?