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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 (2847)	5/29/1999 7:15:00 AM
From: Dave E.	Read Replies (1) \| Respond to of 15703

Grayhairs, What is your take on the drilling time for 1-R to the Temblor in view of: 1) They know a lot more about the formation now 2) There seems to be no likelihood of abandoning 1-R altogether 3) They don't have to hit the target as tightly as the relief effort (still amazed how that was done!) I had thought there would be a run-up in the stocks next week and then a slippage as no news but am starting to think we may not see much given that two other holes will spud by July. However if there is a pop like last November it would be awfully tempting to take some $$ (<<50%) off the table at say $5 for HTP. The Cal Canal hole should spud in 1-2 wks as there is activity at the site. Have you got a fix on when ELH #2 will spud - seems they are still waiting for the special hi-pressure pipe? I too find it a bit difficult to see how someone at the site knows what will happen in the market, especially since we do have a pretty good idea of what is happening. Although this is my first try at a gas play, this does appear to be an extraordinary opportunity which has not yet been recognized at all outside the ELH club. (Is Viagra available in liquid form? If so you can tell the Mrs you'll be able to bathe in it soon! Hmmm - I'll have to think about modifying the shower :-)) Have a good week-end. Dave

To: grayhairs who wrote (2847)	5/29/1999 7:41:00 AM
From: Poseidonas	Read Replies (1) \| Respond to of 15703

Today's (Sat.) UPDATED story from Bob Christie: Front page of today's Bakersfield newspapar. See link: bakersfield.com

To: grayhairs who wrote (2847)	5/29/1999 7:41:00 AM
From: Bearcatbob	Read Replies (3) \| Respond to of 15703

Grayhairs, In the quiet of a holiday weekend Saturday I have gone back and carefully read Bob Christie's article in the Bakersfield paper. An item of interest is that Chevron kept a 25% Royalty in the play. Now I need to check - but someone may know and save me the effort - the following: 1. Have the Eland Jennings "guesstimates" considered this royalty - or have those numbers been based on before payout returns. 2. Does the Armstrong play also have a royalty to Chevron? Thanks, Bob

To: grayhairs who wrote (2847)	5/30/1999 2:41:00 PM
From: Salt'n'Peppa	Read Replies (1) \| Respond to of 15703

Hey Grayhairs, I'm back!!! I loved reading your recent posts. Even though I have personally been a part of similar events, I too am amazed at how they can drill a 7" wide hole through 17,200 vertical feet of rock (probably 19,000 actual drilled feet of rock) and intersect with another 7" wide hole...amazing! What an exciting close to the week. I can't quite believe that our cursed blowout is dead. I think I'm still in denial. ggg Here's to a fabulous week of rising share prices for all the believers on this thread who have been long for a while. May the prices rise for another 3 months as the San Joaquin events unfold for our JV group. As I see it, the risk at ELH is eliminated. I don't consider a potential dry hole or two to be "risk", but rather "set-backs". We know the gas is there and we know that there is a sh*t load of it. They just have to punch holes in the right places now, using the blurry map that they have. This map will gain clarity with each successive drill. Cheers, Rick.