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Re: StockWatcher post# 1393

Wednesday, 10/12/2011 2:17:11 PM

Wednesday, October 12, 2011 2:17:11 PM

Post# of 70701
Yes, I am "somewhat" betting that they are at the front end of the process. I spent my life as an oil man working for Cheveron and ExxonMobile before co founding a publicly traded energy company and entering retirement. So, I feel that I do have some insights into how a oil exploration company works. I'm very aware of how the acquisition of leases work and how the value can appreciate as a play becomes proven and the example that you sight, does happen all the time within hot plays. Yes, I'm very aware of the Paloma well being spud. In fact, I watch the well permits that are filed for and issued by the State of California, Dept. of Conservation, Division of Oil,Gas and Geothermal Resources. There is complete well information for all 6 Cali districts along with field development maps, etc, etc. It is a very valuable source of info to learn to use and if you follow the drilling of a specific well and understand the business, you can be way ahead of the game as to what is going on. I encourage everyone to become familiar with how to use the site and benefit from it. For example you will see Solimar Energy has 14 wells listed in District 4 and you can take your search from there... Play with it a little... Have fun while you learn. :0)