PRE pacrim energy limited

rodney foster phone call, page-5

  1. 830 Posts.
    The word completion is very important in the oil and gas industry............doesn't mean flow testing.

    This would be the only positive I would take out of it.

    They have all the data and info, and are moving up the zones. This is what he said in the last report:

    Update – US Gas Project - Behemoth Prospect (Worthington 2-8 Well)
    Pacrim Energy Limited hold a 12.5% free carried interest to commercial discovery in US Gas Projects in the North Sacramento Basin, California.
    The operator, NEG, had previously advised the Company that the Worthington 2-8 well reached a total depth of 13,506 ft. Electric logs have identified multiple target zones that warrant testing. Casing was then set to 13,474 ft.
    Pacrim has been further advised that that the test rig is in place and testing of the objective sandstone target at approximately 13,000 feet is set to commence. Depending on results, this could be followed sequentially by the testing of up to six further zones. The program is expected to take several weeks.
    Further information will be released as it becomes available.
    Rodney Foster
    Managing Director
    Pacrim Energy Limited

    Well, they have further info and not told us. Poor, poor management!
 
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