Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: johnlag who wrote (2569)	5/19/1999 5:09:00 PM
From: Bearcatbob	Read Replies (2) \| Respond to of 15703

John, Very interesting the leverage in WML! Bob

To: johnlag who wrote (2569)	5/19/1999 6:11:00 PM
From: grayhairs	Read Replies (1) \| Respond to of 15703

Hi John, I find your valuations "interesting" but must point out, to those not intimately familiar with exploration risk, that your tabulation in essence suggests that apples are oranges. As such, it risks being very misleading. As I see it, the ELH prospect already has: - a very large seismic defined structure that has already been in part proven with the drill bit, - a proven "reservoir seal", - a proven hydrocarbon saturation, - a proven "very large" reserve (albeit ill defined), - a proven capacity to produce in large and extremely commercial quantities, - only a very moderate future development risk. On the other hand, each of the GSJ prospects have: - totally unproven seismic defined structure (i.e. not yet tested with the drill bit), - no proven reservoir seal, - no proven hydrocarbon saturation, - no proven commercial reserve size, - no proven capacity to produce in commercial quantities, - very large exploration risk. In other words, the ELH prospect is the "bird in the hand" while the GSJ prospects are just "three birds in the bush". To assume\suggest\infer that the potential of any of those three GSJ prospects can, at this point, be valued on par (Man, I do love that game !!) with the ELH prospect is indeed a very lengthy reach !!! As a consequence of having done just that, I feel that you have very seriously "distorted" the valuations. JMHO, BWTHDIK. Good luck with your "Bakersfield Portfolio". Later, grayhairs