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InterOil Corporation Message Board

  • casserta@rocketmail.com casserta Sep 25, 2013 8:17 AM Flag

    I don't even believe in "The Resource" any more............

    "...The findings of Ross Smith is based upon analysis of the January 4, 2007 released “Elk Technical Review”, combined with the January 8 conference call. Ross Smith also engaged APA Associates of Calgary to analyze the drilling data. Here are their conclusions:

    “In our view, the Elk#1 well was drilled into, or very close to a major fault that very likely is responsible for the intense fracturing and extremely high gas rates.”

    “we believe that the company’s optimistic resource estimate for ELK is not supported by evidence gatherred to date”

    “from the flow test, we estimate that the gas in place in the fractures could be as low as 0.5 TCF”

    “In our view, the Elk#1 well was drilled into, or very close to a major fault that very likely is responsible for the intense fracturing and extremely high gas rates.”

    “currently there is no evidence that it is effective or can yield commercial gas rates”....

    Sentiment: Strong Sell

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