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

To: Salt'n'Peppa who wrote (451)	12/6/1998 12:07:00 PM
From: Kerm Yerman	Respond to of 15703

All / Market Review Market wrap for Canadian Exchanges with focus on oil and gas, including Lost Hills Play. Pay us a visit. techstocks.com

To: Salt'n'Peppa who wrote (451)	12/6/1998 1:46:00 PM
From: Michael M. Cubrilo	Read Replies (3) \| Respond to of 15703

Opinions, yes.... that is the trouble with opinions... they are sort of like assholes, everybody has one. What we are concerned about are just the facts, jack. Fact... they have found hydrocarbon, to be sure. Fact... how much? No one knows until more testing is done. Fact...You do not know about the California O&G rules so if this is an oil well, and the rules are similar to Canadas (which they should be because we are talking about fundamental reservoir engineering and the same principles apply everywhere) then the gas cap may not be allowed to be blown down. Fact... the oil well vs. gas well issue is not dependent solely on the thickness of the gas 'cap' or oil thickness. There could be an underlying water drive which is accounting for much of the pressure drive. WE DO NOT KNOW YET. Reservoir data submitted to a Regulatory Agency typically will dictate whether it is an oil well or gas well. The reason for this is that the Governments do not want producers to get 'greedy' and simply produce what is most valuable at the time and then leave a bunch of the resource in the ground. Poor production practices ruined many reservoirs 30 and 40 years ago. Q: Did the company actually say that they will be tieing in this well ASAP as a GAS well, or was it simply a blanket statement that they wish to tie in this WELL (be it gas, or oil) ASAP... which is, IMO, understandable. I would want to do the same thing! I am not at all clinging to an idea that the well must be an oil well, I am simply stating some facts that we do not know enough about the well yet. I have already bought some shares because the VAST MAJORITY of investors do not have the technical knowledge to know what they do or do not have! I think somebody mentioned earlier that "Mr & Mrs Bucket were saying that: 'Yep, she looks like a gooder' aw right'. 'And that flame was shur hot!' Hardly sound investment advice. But, people will buy because it LOOKS good.... and when the volumes and prices get higher before some real technical news is out, I will have sold 70% of my position. Good luck, and I hope it is a new, multi TCF discovery... no facts out to back this yet. Regards, Mike