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

To: Poseidonas who wrote (2851)	5/29/1999 11:34:00 AM
From: grayhairs	Respond to of 15703

And, excellent coverage it is, too. A must read for this thread. The only portion of Bob's coverage that I take exception to are the first 2 sentences of his closing paragraph. His statements are completely factual but i think they may mislead those not intimately familiar with oil and gas terminology. "Although the Lost Hills gas well blew out for more than six months and produced huge amounts of gas, it remains to be seen if the area actually will become the newest commercial gas field in the state. For that to be proven, several development wells will have to be successfully drilled. But the companies who have invested in the wells believe the area may be a world-class field with reserves of more than 2 trillion cubic feet of gas." It will not necessarily take several wells to prove the "ELH prospect" as commercial. The replacement well itself can do that. I mean if they complete the sucker for 100 MMCF/d is the commercial viability of the prospect in question ?? Unfortunately, Bob's words "gas field" have special meaning within the oil and gas industry and that meaning may not be commonly known. A single gas well can not possibly comprise a "gas field". One or more wells may be necessary to adequately delineate a "gas pool". And, it takes multiple "gas pools" to comprise a "gas field". So, while I agree with Bob's comments, I fear that those comments might be misleading for someone who does not understand oil and gas terminology. Later, grayhairs