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Gold/Mining/Energy : WML Westminster Resources -- Ignore unavailable to you. Want to Upgrade?

To: Alfaman who wrote (26)	3/21/1999 1:45:00 PM
From: Poseidonas	Read Replies (1) \| Respond to of 135

Interpretation: Reservoir is 2000 feet thick!!! See a couple of postings from Rick Brown (Geologist according to SI profile): (https://www.siliconinvestor.com/readmsg.aspx?msgid=8431762) and (http://cgi.bakersfield.net/question/lost.hills.html) posting March 20 According to Rick: 1. If the reservoir is this thick then there is be approx. 10TCF gas. 2. The lowest realistic estimate of recoverable reserves that he has heard of is 2TCF gas. Accordingly "if we could assume that a single well could produce the entire field (which is impossible - they will need 50+ wells ultimately), then it would produce at 16 mcf/day for 355 years!!! 3. Value of gas in the ground is $0.75/mcf (thousand cubic feet) I am not a geologists, but if Rick's comments are correct my calculations are as follows: 1. At 2TCF gas in the reservoir a single well would produce at 16 mcf/day for 355 years. At 10TCF gas a single well would produce at 16 mcf/day for 1,775 years. 2. At 2TCF gas, the reservoir is worth ($0.75/10^3) cf x (10^12 cf/TCF) x 2TCF = $1.5 Billion US Dollars or $2.3 Billion Canadian Dollars At 10TCF gas, the reservoir is worth = $7.5 Billion US Dollars or $11.4 Billion Canadian Dollars 3. Value added to Westminster At 2TCF, WML share is = 9% of $2.3 billion cdn = $200 million over 21.75 million shares = $9.20/share At 10TCF, WML share is = 9% of $11.4 Billion Canadian Dollars = $1 Billion over 21.75 million shares = $46/share Can someone check my math. This is too good to be true!