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

To: grayhairs who wrote (2131)	4/4/1999 9:27:00 PM
From: Check	Read Replies (2) \| Respond to of 15703

Hi Grayhairs, <<. IMHOO, this gas is conservatively worth $CAN 1.00/mcf in the ground.>> Being conservative, I've been using Can $1.00/mcf all along and throwing in the condensate for free - for an extra conservative measure of protection. But what do you make of this light oil business in the latest write-up? Are they speculating that some portions of the structure may actually contain oil or are they getting their oil and condensate mixed up. I mean, if people understand oil and oil is what they want .......by all means. If they understand oranges and want oranges......did I ever tell you about the citrus industry in the San Joaquin Valley??? Or, as the head of a major Canadian investment house used to say (in private): 'if people want apples, get them apples. If they want oranges, sell them oranges. If they want oranges and you only have apples, paint the damned apples orange.' Now understand I am not trying to be difficult, I'm only practicing my typing while my darling daughters have the line. Nevertheless, I am a bit puzzled by the reappearance of oil when anybody close to the action has mentioned nothing but condensate. If the squids don't eat this, have a good one. CIO

To: grayhairs who wrote (2131)	4/4/1999 9:46:00 PM
From: Bearcatbob	Read Replies (2) \| Respond to of 15703

grayhairs, Long ago and far away I read a book on energy - I forget the name - that indicated that takeover prices for "rule of thumb" thinking were US $5.00 per bbl of oil and US$.50 for gas. I believe this is how these stocks should be valued. It will take a lot of time and investment to get large earnings per share from these guys. So, the kill is a bigger trigger than I have figured. Good, I need some near term enrichment. How much history is there of getting to the kill point with a relief well and not being able to implement the kill. Also, it is my understanding that there is no more flare and that all gas is going to Aera. Bob