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

To: Bearcatbob who wrote (3014)	6/3/1999 11:59:00 PM
From: grayhairs	Read Replies (3) \| Respond to of 15703

Hi Bob, I attended BKP's AGM today. In summary, I am very glad to be a BKP shareholder and I will be adding to my RRSP holdings. BKP is a very impressive company with excellent prospects for rapid and significant growth via the drill bit. Just a few comments regarding that article, Bob. <<Some industry executives estimate the reserve could hold up to 2 trillion cubic feet of gas, ...>> That's probably true. But it is also true that many executives estimate the reserve is much much larger than that. In fact, some executives (those with access to the pertinent technical data) have publicly stated that it could hold up to 14 TCF !! <<''The flow rate didn't drop over that time, implying the pay zone is thick. This has the potential to be a very big discovery,'' said Ken Faircloth, an industry analyst in the Calgary office of Goepel McDermid. That simply is not true!! The flow rate in fact did decline dramatically over time but for very good reasons other than reservoir depletion !! It is quite true that the reservoir has the potential to be a very big discovery and to paraphrase Mike Rose's comments at the BKP AGM today (I say paraphrase only because I'm not 100% confident that the following is an exact quote) -- "... and you could well argue that we already have a significant discovery in the San Joaquin Basin, too." "Significant discovery", in the context of Rose's statement, was a discovery of greater than 500 BCF !! <<''But you have to remember that Canadian firms have gone after potentially large reservoirs in California several times in the past and most were duds.''>> Analysts !!! Grrrr!! What a completely irrelevant comment !!! (Several people also attempted to fly before the Wright brothers and failed. So what??) Later, grayhairs