Eldorado Exploration Inc (fka EDEP)

[kingman]

I seem to remember something of the one being more a proof of concept for PIP and we had a very low if any percentage , and we were not the driller operator. . Don't forget PIP is not designed to tell you there is recoverable oil in a certain location ,rather a tool that will tell you yes there are hydrocarbons present and its a good place to examine and possibly drill. It doesn't tell you porosity or depth to any exactness . Pip is the initial and then other tools come into play to confirm that it may be profitable to drill. So far from what I have seen it needs a bit of tweaking to up it's ability to analyze possible size but it really hasn't been wrong yet. Everywhere they drilled they have found oil or gas . In North Dakota it pinpointed more accurately where the center of the source was but drilling mistakes ruined the well . . In Illinois it did locate deposits but they were deeper than otherwise thought . Other projects did not produce recoverable amounts but the oil was there. One well was not aligned and missed the reservoir by a few degrees and porosity has been a concern in a few others . Mesa is still a prospect and if we have a few good wells we can go back and possibly develope it . If natural gas starts taking up a large portion of our energy policy by replacing oil and coal we may yet have a gold mine there.
All in all it's a gamble this wildcat game, but so far it's been worth the price of admission for me. Im just sorry I didn't go into the oil game 40 years ago when I started working. It would have been as much fun as what I wound up doing .