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Bobwins

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Bobwins

Re: Bobwins post# 6917

Wednesday, 10/06/2010 2:42:47 PM

Wednesday, October 06, 2010 2:42:47 PM

Post# of 17737
WRES +.18 to $4.18 up 34% since I bought it a couple of months ago. Good production with good prospects going forward. They are using new technology to drill horizontals in a large oil field in S. California. They use something called geo-steering sinusoidal horizontal drilling to exploit the Wilmington field.

As far as I can tell, this means they steer the drill bit during the horizontal drilling to oscillate up and down within the target zone. This keeps the drill bit within the target zone but also opens up various parts of the reservoir vertically as well as horizontally.

WRES is making the rounds at various conferences, highlighting their high reserves PV10 vs market cap and increasing production due to these new wells.

http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NjQ3MDh8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1

Please post stock symbols first in all your posts. If it's a foreign stock, please list the US pk equivalent symbol.

If the Commodities Boom is Over, I am just a Gold Bug headed for the Windshield of LIFE

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