DLKR's using a new technology that allows them to drill where others couldn't before. Apparently that technology has had a 100% hit rate (33 of 33 now). Here's their web site:
Westchester Resources and Aspen group both use the same technology and started drilling last month in the same area in North Dakota. They just announced their first hit today and are each up 50-80%: http://www.stockhouse.com/news/news.asp?newsid=2651581&tick=WSR
Delek has much more land and many more targets than the Westchester/Aspen joint venture in North Dakota, so the potential is mind-boggling. The land and rights alone are worth a lot more after today's news. Once they get their first hit, they should be applying for Amex listing.
It's still speculative, since DLKR themselves haven't hit oil yet, but given the technology's perfect record, that should happen next month when they get results. Even without hitting oil, they're worth a lot more because all their land is made much more valuable by the Westchester/Aspen Group news today.
The reason it is down today is the initial Aspen / Westchester resources drill test was not positive: March 4, 2005 - 12:30:05 ET
Westchester Resources Inc.: Aspen and Westchester Provide Preliminary Test
Results
OKLAHOMA CITY, OKLAHOMA--(CCNMatthews - March 4, 2005) Aspen Group Resources Corporation (TSX:ASR) (Aspen) and Westchester Resources
Inc. (TSX VENTURE:WSR) (Westchester) requested on March 2, 2005 that trading
in their shares be halted pending the release of test results on the Froelich
1-27 test well in North Dakota. Westchester has been informed by the operator,
Aspen, that the open-hole production test was expected to commence late
afternoon on Wednesday March 2nd, but was postponed until the following day
due to onsite equipment delays. The upper portion of the formation was
acidized and tested late Thursday afternoon and evaluated overnight. The
initial results indicated low porosity and no commercial quantities of oil or
natural gas in the upper portion of the formation. The well is still under
evaluation and it has been determined that further drilling is required on the
Froelich 1-27 well in order to complete the production test on the formation.
The drilling and testing will occur over the next 5-7 days.
Aspen Group Resources Corporation is an independent oil and natural gas
producer engaged in the acquisition, exploration, production and development
of oil and natural gas properties in North America. Aspen's shares trade on
The Toronto Stock Exchange under the symbol "ASR".
Westchester Resources Inc. shares trade on the TSX Venture Exchange under the
symbol "WSR".
I'm trying to buy more at these prices as DLKR still has yet to drill their holes and has much more land.
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