Looking at the 10Q filed 12/17/97 revenues from crude oil sales dropped from $320,000 for the 1st quarter of 1997 to $117,000 for the 2nd quarter 1997. With the additional reserves and well testing this is counter intuitive. Of course, it may have to do with the fact that they are still transporting oil by truck or perhaps they deliberately slowed the flow after testing was completed. Since you seem to be a bit of a cheer leader for 7 Seas perhaps you can provide us some insight. Thanks. DHR
Crude oil sales for Seven Seas relate only to oil produced while testing individual wells. When you begin talking about moving 100m to 200m BOPD, you have to start thinking "pipeline". SEV won't begin selling oil until they build an 80 mile line to connect to an existing Ecopetrol line in approx. 12-15 months. IF HEC should be so fortunate as to find oil at Cambulos, or any other block for that matter, they will then enjoy the same dilemma. Of course, if HEC finds 1000 to 5000 BOPD, then trucks are the most efficient means to market.