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

To: Dave E. who wrote (2976)	6/2/1999 5:05:00 PM
From: Salt'n'Peppa	Read Replies (3) \| Respond to of 15703

Dave, We can't really compare the drilling of #1R with this new sidetrack (what do we call it - Bellvue #1RS?). The relief well involved a couple of "plug backs" due to positioning problems, and involved incessant tripping for motors, bits and other downhole tools. It also involved a lot of downtime due to downhole surveying. Think of the logistical problems that were overcome, in positioning the #1R wellbore so precisely. #1R was a directional hole. The sidetrack, which was supposed to have been begun today (I have no word on that yet), will essentially involve drilling straight down to 17,500 feet and setting the 7" casing. We have a large target, so minor drift is not so much of a problem. Once they have a feel for the direction the bit prefers, they will be able to put a little more weight to it when feasible, and make better hole than in #1R. You can also bet that the guys running the show are using all prior drilling information to optimize their bit selection for each particular formation being drilled. They will not rush things, but I am willing to bet that they are getting more efficient with each well drilled. Regards, Rick.

To: Dave E. who wrote (2976)	6/2/1999 8:16:00 PM
From: grayhairs	Read Replies (2) \| Respond to of 15703

The whipstock off ELH #1R should commence drilling Friday or Saturday this week. They are kicking off at 10,800 feet and will drill to the top of the Temblor formation at which point they will set a 7" casing. After cementing that string, they will drill to TD, which depth will likely be determined by drilling results and\or problems. They will drill as quickly as they possibly and prudently can but chit happens (as we well know) and I have no idea when they'll reach TD. They have given us what they believe to be a reasonable yet probably slightly conservative time estimate. When their estimate proves to be wrong, which it will, it would be foolish to interpret anything either good or bad from that fact alone. I had earlier heard from a participant that the Cal Canal well would spud June 5 but today I was told by the same participant that it'll now spud "near the end of the month". I didn't even ask him why the delay. He also said that the ELH #2 well is expected to spud late July\early August. It would be foolish for me to attempt to refine any time estimates that the participants have provided. As a relative comparison only, Cal Canal is slightly shallower than ELH. ELH drilling is more difficult because of the complex faulting. A well drilled at Cal Canal should reach TD in less time than a well drilled at ELH, but chit happens so don't count on it. I intend to hurry up and wait !! Have a pleasant evening. Later, grayhairs