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

To: Bearcatbob who wrote (2287)	4/29/1999 8:06:00 PM
From: Salt'n'Peppa	Read Replies (1) \| Respond to of 15703

Bearcatbob, you already have a double in your BKP, you greedy guy ggg. I know, you didn't pay $7.35 for it. It is not impossible to imagine a very significant rise in share prices, upon killing the well. Oil prices are 40% higher than during the blowout and I think gas prices are significantly higher too. Eliminating the environmental risk by stopping the blowout will be a key point that allows the larger investors to feel confident enough to get back in, IMHO. I think everyone knows that the water being produced right now is a normal occurrence, under the circumstances. If they don't they should do a little DD and talk to their friendly neighbourhood reservoir engineer. I'd hate to see someone pass up ELH, thinking it was wet. We are now 22 1/2 weeks (157 days) into the blowout. Reservoir pressure is rock steady (pardon the pun), and we are still producing on the order of 15 mmcf/day sweet gas, in competition with the 20,000 bbls/day water. Don't forget, this is all coming from just 17 feet of open hole, in the uppermost of a series of 5-7 stacked sands. This gas and water is all flowing through a 7" pipe (the liner), and flowing around a lot of restrictions inside that pipe. There is an approx. 4" diameter drillpipe inside the liner with a drillbit on the bottom end. There is also a lot of plugging material in the liner from the 8 or 9 unsuccessful attempts to kill this beast. Picture a badly clogged drain, if you will. At least 1400 feet of closure on the structure have been proposed by more than one of the JV partners. The areal extent is not known exactly, but is believed to be on the order of 14X2 miles. We have a large volume of gas, we have steady (and huge) reservoir pressure, we have proven economic size & deliverability (porosity and permeability), we have a pipeline, I think, less than a mile away and we have the world's largest energy consumer all around ELH. What size ELH is, we don't know yet. What more could anyone ask? You'll get your $28 BKP, I'm sure. Just one guy's opinion. Rick.

To: Bearcatbob who wrote (2287)	4/29/1999 8:16:00 PM
From: Salt'n'Peppa	Respond to of 15703

Dec. natural gas price was around $1.85. Today it closed at $2.34. <eom>

To: Bearcatbob who wrote (2287)	4/30/1999 7:18:00 AM
From: STLMD	Read Replies (1) \| Respond to of 15703

Bob.. Just to add to your profits, I thought I would add that the increased gas prices are not the only plus for us below the border here in the US. The improvement in the exchange rate for Canadian dollars. We in the US at the time of blowout had $1CAN equal to .65 US. Now its equal to .682 US and climbing!!! A 4.6% gain without any movement in the stock... Just thought I would add another bonus on this play as if anything else was needed.LOL... Stephen