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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 (2949)	6/1/1999 11:32:00 AM
From: Salt'n'Peppa	Respond to of 15703

Grayhairs, they are not alone. Here is a buy from Canaccord... ----------------------------------------------------------- Analysts' Breaking News Tuesday, June 1, 1999 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 The information contained in this report is drawn from sources believed to be reliable, but the accuracy and completeness of the information is not guaranteed, nor in providing it does Canaccord Capital Corporation ("Canaccord Capital") assume any liability.