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sahd3g

07/09/11 6:31 AM

#7631 RE: L_Porter #7630

Oh we have oil, lots of oil, lots of seeps, traps, core samples etc. It's just not proven yet, only risked and unrisked reserves.

WE DO HAVE OIL! Probably billions upon billions of $$$$ in nat gas too. Ray's job is to prove it and build the share value by magnitudes. Sounds to me like he's all about proving as much oil by 2017 or so as possible...not concerned with production. Share value for years to come will be based on risked, unrisked and hopefully soon PROVEN RESERVES.
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wittytitty

07/09/11 5:11 PM

#7633 RE: L_Porter #7630

Oil seeps are often not more than stranded bursts of hydrocarbons floating in place. They tell us there's potential but don't speak to quantities of oil/gas, let alone commercial viability. I cringe when I read things such as "Oh, we have oil, billions and billions of barrels---all we have to do is prove it!" If it remains to be proved, we can count on nothing. This is why a top caliber geology team such as we have in place in this post-Watts era is so vital.


It's fine to be excited and hopeful, pointless to publicly flatulate over hyperbolic drivel based on wishes and nothing more conclusive. However, I strongly believe in the Bob Bearnth legacy for a number of reasons, in addition to the carefully constructed approach Ray has taken in bringing us this far. I'm betting his eye is trained on far more than has been placed before us.

WT