Replies to post #15427 on Hemi Energy Group Inc. (fka HMGP)

[hillzman]

It appears no follow up was required that would add to that pr.
The report only includes a small part of HMGP's current leases,
so is already way out of date as an indication of total reserves. Since Wilshire has an independent report being prepared, perhaps if that is revealed (???) we will be able get a better idea of actual reserves. At any rate, IMO the reserves in KS are at least 3X those given and still don't include leases outside KS.

[gtv]

They still have to finish acquiring the full 40 square miles of leases in Woodson and then they will get the final number. No reason to get the final numbers on the initial lease when they will have to get another report once all the leases are secured.

[lowman]

Haven't seen or heard of any follow up on that, rocketeer, but reading it closely suggests that Keith may feel Geosystems understated the actual potentials, and 'may' draw into question, the possibility that Geosystems could be considerably/vastly low on their estimations.

Since additional leases means new evaluations, it is probably not a major concern right now.

I believe the report as given, was simply 'something to go by' for the time being, and enough to 'get the ball rolling' for third parties such as Wilshire.

I believe Wilshire will also be conducting studies themselves, so's to verify that they are buying into a viable contract with Hemi in the first place. I doubt we will hear results of their own findings, but may get a gist of it by the size of the contract that they strike with Hemi, if/when one is made.

At present, $10M has been the number thrown around, but if a contract for say $40M of Hemi's future oil is made, we can be sure that Wilshire has concluded, independantly, that Hemi sits on reserves much larger than all of us have presently been yapping about.