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: Bearcatbob who wrote (2946)	6/1/1999 9:22:00 AM
From: Salt'n'Peppa	Respond to of 15703

Thanks Bob, that explains my criticized comment perfectly. Perhaps too many people were counting on a spike this time, which is why it didn't happen. Perhaps...? Things don't look any better this morning on the pre-open. Let's hope that the round of annual meetings this week and next will provide a little excitement. Rick.

To: Bearcatbob who wrote (2946)	6/1/1999 10:11:00 AM
From: Poseidonas	Respond to of 15703

Westminster news release -- info on all California prospects "1999 Focus On April 8, 1999, Westminster announced its intention to re-focus it's efforts on the four San Joaquin exploration prospects. The company plans to rationalize its existing producing assets to accommodate these additional prospects. This rationalization, along with cash flow generated from high natural gas netbacks and other initiatives, will allow the company to finance the California prospects. The company has signed a letter of intent for the sale of certain producing gas assets in northeast British Columbia to an industry partner for approximately $14 million. The sale is expected to close in early June, 1999. Proceeds from the disposition will be used to enhance the company's working capital position and to finance the initial new drilling activities in the San Joaquin Basin. East Lost Hills, California The Bellevue No 1-17 well at East Lost Hills was confirmed killed on Saturday, May 29, 1999. Heavy mud and cement were pumped through perforations into the No. 1-17 wellbore from a relief well which had been drilled to a depth of 16,668 feet. The Bellevue No. 1-17 well blew out on Nov. 23, 1998, and had been flowing natural gas, liquid hydrocarbons and water into containment facilities since December 1998. The Bellevue No. 1-17 wellbore will be plugged back and abandoned. The relief well No. 1-17R will be used to sidetrack a replacement well into the targeted Temblor zone. It is estimated that drilling of the replacement well, which will be sidetracked from the relief wellbore at approximately 10,800 feet, will take approximately 75 days. In early August the company anticipates spudding a step out well in the East Lost Hills feature. This well will be operated by Berkley Petroleum Corp. Significant design changes have been incorporated in this well plan to ensure that the wellbore is suitable for effective evaluation of zones encountered to total depth. San Joaquin California Foldbelt Play The results to date from the drilling at East Lost Hills have prompted Westminster to expand its exploration efforts in the San Joaquin Basin. The company has entered into a letter of intent with Berkley Petroleum Corp. to participate in three additional exploration prospects in the San Joaquin Basin of Southern California. Participation in the project will involve a minimum of three wells during 1999 and 2000. The prospects have similar seismic characteristics and reserve potentials to that of East Lost Hills. Berkley Petroleum Corp. will operate the drilling of the new prospects. Cal Canal Prospect The first well is expected to spud in mid-June at the Cal Canal Prospect which is located approximately ten miles southeast of the East Lost Hills structure. Drilling time is expected to be approximately 120 days. The reserve potential in the Temblor Formation at Cal Canal is estimated to be 1.85 - 3.0 TCF. Lucky Dog Prospect The Lucky Dog Prospect is approximately two miles south of Cal Canal. The seismic indicates closure at the Temblor level under the shallower South Belridge oilfield. An offset well 1.5 miles west shows good reservoir development in the Temblor formation. The reserve potential in the Temblor formation at Lucky Dog is estimated to be 6.3-11.1 TCF. Pyramid Power Prospect The Pyramid Power Prospect is approximately ten miles northwest of East Lost Hills. The seismic indicates closure at Temblor level and evidence of porosity and permeability in the Temblor formation are found in a well located 1.5 miles to the southwest. The reserve potential in the Temblor formation at Pyramid Power is estimated to be 7.5-12.5 TCFE. 1999 Capital Expenditure Program The company has revised its 1999 Capital Expenditure Program to reflect the expanded exploration efforts in southern California. Westminster forecasts spending $15.8 million for exploration drilling, $16.8 million for development drilling, $1 million for seismic acquisition and $5.9 million for land acquisition for a total of $39.5 million. The Company will commit approximately $9-10 mm over the next 12 months for exploration and development of the four San Joaquin Basin prospects." The rest is at link: biz.yahoo.com

To: Bearcatbob who wrote (2946)	6/1/1999 11:10:00 AM
From: grayhairs	Read Replies (1) \| Respond to of 15703

To quote from a Canada Stockwatch news item this morning, "Berkeley shares got an extra lift when brokerage Research Capital weighed in with a new "buy" rating on the stock." Your prediction may be unfolding, Bob. Later, grayhairs

To: Bearcatbob who wrote (2946)	6/1/1999 12:10:00 PM
From: Don Richards	Respond to of 15703

Bob, you explained my ideas of how i thought and planned for things to unfold to a "T"!!!(I admit to the greed)!! It's good to see the 2 buy recommendations already. chat again,Don

To: Bearcatbob who wrote (2946)	6/1/1999 1:12:00 PM
From: Salt'n'Peppa	Respond to of 15703

Bob, a third analyst enters the arena. RBC Dominion Securities have today put out a strong buy recommendation on BKP, with a 1 year price target of $16.00. Hilton have posted this on their website. The event that spurred the rating was the "confirmed kill". Regards, Rick. hiltonpetroleum.com (go to "news releases")

To: Bearcatbob who wrote (2946)	6/1/1999 2:02:00 PM
From: ogod	Read Replies (3) \| Respond to of 15703

here ya go RECOMMENDATIONS 1. ACCUMULATE Hilton Petroleum Ltd. (HTP : VSE : $1.88 : Issued 28.2M) Stockdale * Blow-out at East Lost Hills, CA, reported controlled * ACCUMULATE Hilton Petroleum Ltd. * Hilton Petroleum Ltd. (HTP : VSE : $1.88 : Issued 28.2M) ACCUMULATE The Bellevue number 1-17 blowout well at East Lost Hills, CA, in the San Joaquin Basin near Bakersfield, was reported controlled-killed- on Saturday, May 29. Apparently, the kill went without a hitch on Friday morning, taking a mere 30 minutes as the pressured-up mud first triggered the perforation gun and then, flowing at an estimated 20 barrels a minute, overpowered the out of control flow of natural gas and water. The plan remains the same: the relief well will be sidetracked at about 10,800 ft. as the participants hope to put another straw into the Temblor sequence, which is estimated to start at approximately 17,500 ft. and, at this depth, a 71/2 inch casing will be bottomed, in preparation to drilling ahead with a 5? inch bit. Then, with a significant increase in porosity anticipated, the prognosis is that the speed of drilling will increase significantly. The market has sold-off somewhat with the news, probably because the participants have published an estimate of 75 days for the re-drill. However, it could be as early as 45 days to the time that the bit starts to encounter the Temblor sequence. Meanwhile, mid-June is anticipated to see the spudding of the Cal-Canal wildcat-a separate structure from East Lost Hills-and in the first half of July, the start of drilling of a second rig on East Lost Hills. The time for short-term trading is drawing to a close; speculators wishing exposure to the huge potential of this play should start accumulating now. Clive Stockdale (604) 643-7403