Sevcon, Inc. Message Board

Makes sense to me! I just hadn't heard anything
on 2E and was hoping nothing bad was amiss. Way they
keep NOT defining the outer limits of this reservoir
impresses me,even if we have to wait a few years for the
big bucks.

Have Gun,Will Travel

I bailed out of sev at 24, because I thought that
mdco was just too tempting at 18, and that sev needed
to consolidate. Well, I was absolutely correct,
except that mdco decided to consolidate big time
also.

Imo, anything to do with oil right now is "squirrely",
because nobody feels confident about what is going to
happen, with Asia, Opec, etc, so the real money is
avoiding anything to do with oil, as though it had the
plague.

The Triton deal is a good example of nervousness, and
lack of conviction. I thought that it was supposed to
be a "slam dunk-done deal", complete with a $10+ per
share kicker, for anybody that is willing to let their
money set for a week, or two? It may actually be just
that, and if so, my hats are off to the victors, and I
wish that I were one of them.

I really like sev
and the future prospects, and have been successful
every time that I have owned it, but I am currently in
a minor trap that I need to try and trade my way
out of.

As far as the pipeline is concerned,
sev should proceed, at a quick pace, as though it did
intend to fully develop the field, even though they are
probably "out of their league". Imo, it is going to take a
pipeline in order to accurately determine the true
production rates of the field. Also, as the pipeline
construction proceeds, the pressure on the future players
increases proportionately, because they all have to be at
the starting gate when the bell goes off. I
personally like horse races more, when every gate has a
horse behind it. Take care

tough stock to pick the bottom for!!! have u looked at tmar-
another oil service stock that has been trampled on

I, too, noted there was no mention of testing
Tres Pasos #2E
in Wed. news release. They are only
contracting for one
completion rig and they have 3 wells
to flow test. T.P #4E,
E.S. #6E and then T.P.
#2E, in that order. I understand the
well looks
good and the test will be 2 weeks in duration,
and
not the 5-6 week extended test. One of the delays
in
completion is SEV shipped the cores to Corex Labs in

Aberdeen, Scotland, for water wetability, sweep
efficiency
tests and stimulation recommendations. Why Scotland?
The
North Sea has limestone rocks and Corex has
significant
experience analyzing this type of formation. Wanna' get
it
right, right?

Oilperson ;-)

I wrote August 20 calls today at 2 1/8 to lower
my average
cost. I had previously written July 17
1/2's. I'll wager
I don't get the stock called from
me in either case. If I'm
wrong, I'll take the
proceeds and probably be able to get
back in at a lower
price. Just trying to lower my average
cost until
sentiment improves.

Regarding your MDCO, I think
most of the service stocks are
dead money until
OPEC proves they are adhering to their
agreement.
Sell calls to lower your average cost. MDCO is
a
good stock to own otherwise.

Oilperson ;-)

I think I would wait to take a position in SEV
right now
since the latest news was announced today.
Except for DLJ
report, which will probably be a
nonevent whenever they
finally do release it, and an
appearance next week in NYC
at the ASE Energy Conference,
there won't be any news to
move the stock for 3-4
weeks. Frankly, I think you'll get
a chance to buy at
17, and possibly lower. Regarding your
comment
about a 3-D survey, I know SEV is permitting
one
right now. Not sure of timing as they would like
for
Ecopetrol to pay half. They also shot 50 km of 2-D data

late last year to tie their fault
picks.

Oilperson ;-)

Nice to see you on this thread! Although our GDP
thread is idle with the poor oil prices lately, I've
been reading ALL posts at SEV which was recommended to
me about a year ago from someone in the Houston
area. I am currently seeking an entry point for first
buy in. Thanks for the information you post in both
places. It is good that someone of your expertise has
access to information from these outposts. Do you think
SEV will get 3D seismic before the deep test?


Thanks again!

Oilperson,

Do you know what's up with
TP#2E? The sidetrack well has been completed for some
time. Were there problems? Seems like they would have
tested it by now. Any thoughts appreciated.

Have
Gun,Will Travel

Oilperson,

Do you know what's up with
TP#2E? The sidetrack well has been completed for some
time. Were there problems? Seems loke they would have
tested it by now. Any thoughts appreciated.

Have
Gun,Will Travel

The #3E that SEV is moving to next will be the
most westerly
well drilled to date. It has two
objectives. First will
be the continuation of the
Cimarrona pay zone as it "saddles
up" to the west.
Second will be a sub-thrust, or "repeat"
Cimarrona
section underlying the first. It should be
same
thickness, same facies, same bugs, etc. as the
overlying
Cimarrona zone. Because it will be the first time this

repeat section has been tested, it is premature to even

guess what kind of additional reserves this well could
add
to the big picture. SEV would need to drill 3
or 4 more of
these deeper wells to see how far of
an aerial extent this sub-thrust covers. SEV thinks
#3E will have to go to 9500'
to see both zones.
Give it 6-8 weeks to drill once
spudded.

Oilperson ;-)