Re: Direct Answer - Fish
posted on
Jul 08, 2008 05:52PM
Investor Inquiries: 604-649-0080
Fish, do I have engineering test results that JB#1 produced between 1000 and 2000 bbls per day of oil, no.
I posted MEO and Austin NR's that described how MEO took an open hole completed well - JB#1, which had tested at 800 bbls of oil per day over a 3 day test, and used the same technique that Dwayne had used on one of his Charlie Lake Alberta wells, which more than doubled production, and used it on JB#1. MEO then tested the well again, and were so excited with the outcome, that they shut in the well, and spent the next 5 months negotiating for the 253 acres that JB#2,3,4&5 are now on.
MEO has the open hole logs and all the test information on the JB#1 well. The JB#1 offsets the Howard White #1 Blowout well, which we know had great production - 250-750bbls per hour and 5 million of gas per day.
MEO then drilled the JB#2, and as soon as they hit the Copper Ridge, stock options and private placements to friends and families started flying out the door. Two weeks later the well cost was at $5 million, and they were over 7,000+' down. 3 Weeks later, the well was completed, at the cost of another $4+million, which I believe the facts will show was due to horrizontal legs at the bottom of JB#2, in the Rome formation.
MEO, Austin, and Great Northern have extensively documented MEO's capability, intent, and having done ongoing sampling and well testing of JB#2 while the well was being drilled. Yes they know what is down there !
As soon as JB#2 was finished, and MEO claiming to have inconclusive information on the economic value of the wells - JB#1 and JB#2, they bought more land, and started plans to drill 3 more wells. Those wells were drilled, logged and tight hole status was obtained from the state of Tenn until Nov 08.
After drilling and open hole logging JB #2,4 & 5, MEO continued to say that they didn't know what the economic value of the wells was, but then stated that they wanted to drill 21 more shallow wells, and 2 more deep wells. Those actions sure scream loudly.
Late in August 2007, Montello added to its disclaimer on its NR's that, to paraphrase, MEO may or may not lie in its statements, therefore, anything stated, like they don't know the value of the wells just drilled could be a lie, but that's alright because they already told you that they are liars.
Fish, if you need any further data, I ready. As for what the Liars at MEO have or have not said, I won't bother too much with, but I will point out that ACTIONS SPEAK LOUDER THAN WORDS, and they keep on drilling.