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

To: Dr. JND who wrote (1149)	12/19/1998 8:27:00 PM
From: grayhairs	Respond to of 15703

Hi John, Just to clarify, I am not yet a shareholder of KOB. With respect to the BMA.V play, my initial gut reaction, without having done ANY DD on it at all, was simply --> "Oh yes !! Another typical Vancouver promotion." I very much doubt that their transaction required much "technical due diligence". Now, having said that, just watch it come in, big time !! :-) :-) :-) There should be little doubt that the KOB results will trigger much new drilling to depths not previously explored in the San Joaquin Basin. It might take some recovery from current commodity pricing, but it will happen because the presence of hydrocarbons at depth has been proven by ELH #1. And, the reserve potential is too large to ignore on some of the deep structures. Later, grayhairs

To: Dr. JND who wrote (1149)	12/19/1998 9:09:00 PM
From: Salt'n'Peppa	Read Replies (1) \| Respond to of 15703

Dr. JND. I agree 100% with the sage Greyhairs. This BMA land acquisition and "announcement of intent" sprang up far too soon after the ELH strike for them to have done any real DD on their particular site. These deep plays are extremely reliant on specific geological conditions - temperature, depth of suspected reservoir, structural trap, geological timing of emplacement of the trap, and much more. They are costly to drill (for a land-based well, anyway) and very high risk. A company would most certainly have to perform extensive seismic interpretation over their land, to even have a clue as to what is down there. At this stage, BMA does seem like a "bandwagon" play. Maybe they are legitimate, but check them out thoroughly before getting involved. Rick.