Replies to post #8069 on Green Stream Holdings Inc (GSFI)

[canaryincoalmine]

the wells are in bad shape and most of the wells need to be plugged!

Sorry, I got burned like everyone else and am not overly optimistic, but let’s keep opinions and facts seperate. You are basing your statement on what dd or information you compiled? Please provide URL's to back up your statement.
From my understanding no one knows the actual condition of the wells until they're examined which I beleive has not happened as of yet. So again, a link please.

Cheers.

[Ecomike]

OK, now you have gone a bit too far. You made that statement as if it were a known fact, which it is not. While you and I are on the same page most of the time, I am pretty sure that no one knows the precise current condition of those casings, great condition, good, average, poor or bad.

For now, the verdict is still out, but yes the clock is ticking. To my knowledge, while there are TRRC fines due, there is no proof that many of these wells can not be reused, meaning the casing condition is not known to be bad or good.

I do know this. SE & WC would not have gambled on this play if most of those wells were unusable and needed to be plugged and abandoned!!!!! It is my understanding that SE at one time had boots on the ground checking out this site.

The problem is and has been Wilmont!!!!! End of story.

[crowin]

The subject wells have not been properly plugged in accordance with, and are not otherwise
in compliance with, Statewide Rule 14.

Usable quality groundwater in the area is likely to be contaminated by migrations or
discharges of saltwater and other oil and gas wastes from the subject wells. Unplugged
wellbores constitute a cognizable threat to the public health and safety because of the
probability of pollution.

[crowin]

The estimated cost to the State of plugging Well Nos. 21, 23, 39, 45, 49, 68, 70, 89, 95, 96,
100, 101, 102, 103, 104, 105, 116, 127W, 128, 130, 132, 142, 143, 144, 156, 159, 161, 162,
175, 176, 177, 181 and 183 on the W.H. Siler R/A -A- (07609) Lease is $980,100.00.

http://www.rrc.state.tx.us/meetings/ogpfd/6E-62541-DEF.pdf

[crowin]

$980,100.00 needed for plugging $104,000.00 + $151,000 Administration penalty!

Thats $1,235.100.00

Ever wonder why Wilmot is not working on the wells!

http://www.rrc.state.tx.us/meetings/ogpfd/6E-62541-DEF.pdf

http://www.rrc.state.tx.us/meetings/ogpfd/6E-0258475PFD.pdf