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

To: Check who wrote (2539)	5/19/1999 9:30:00 AM
From: Salt'n'Peppa	Respond to of 15703

Morning Check, I usually get up at around 7am, to peruse the pre-open action. Today I set my alarm half an hour earlier, just in case there is something to Mr. G's story. It is unlikely, but not impossible, and was worth a half an hour of lost sleep. ELH has thrown us many curves before - this could be another. I estimate that we have produced over 3 million barrels of water so far, in the last 5 months. I don't know much about reservoir dynamics (I'm a rockhound, not an engineer) but perhaps the zone producing the water has depleted enough that the gas has won out. Pressures need not drop for this to happen. One would think that the water production would drop off over time, but ELK has been very quiet. It is very unlikely, but not impossible, IMO. It would make more sense that the water won out and the well coned out completely. Perhaps Mr. G misunderstood, and we are 100% water! This is a more sound scenario and if that did happen, it would be normal and not be cause for alarm. Rick.