re: fp update
bignote wrote: "1. VIL are in effect still looking for source of the 6000 units of gas, and are about to go there, hopefully., and
2. BCC have actually found the interval containing the gas, we think."
Correct with VIL. They haven't yet identified the source of the strong gas shows and kicks. When I exited around 8.5/9c it was because I sensed a delay in proving up this discovery. I never envisaged it would take until at least 2011. I'm watching with renewed interest now. On point 2, there is no doubt there is gas there for BCC. The question is will it flow commercially? Permeability (spacing between the rocks) and more importantly sticky clay is a problem in the area. If it's too tight, they may have to run several frac jobs like Marathon did in the adjoining field (very expensive and would take many months to complete).
VIL Price at posting:
1.2¢ Sentiment: None Disclosure: Not Held
