I can only assume by reading the post from today that many have not read the news about HEC proving their wells. The news is excellant and I encourage everyone to read it immediately. I will refrain from repeating it here to avoid accusations of hyping the value of the stock. But you will notice a significant increase in volume and escalation in value.
Good luck in all your investments.
SCman,All I can glean from today's press release
is this:It would be my guess that HEC knows it has
VERY significant reserves to be booked soon... how
else could they be thinking of leveraging 80% of a
Billion dollars on their production?Also it would appear
they are pursuing a "develop and produce" business
plan, as opposed to a "find and sell" plan.I believe
that Bard is making a valid argument in that while so
many of HEC's press releases and decisions have
created more questions than they have answered... now we
are beginning to see the pieces of the puzzle fall
into place. Things are beginning to make a little more
sense. I am buying more.Regards,oilseekr
Its all been in fun! Probably time to
take a break from all of this .
threatenting "a Clubbin".
I noticed there has been quite a
bit of discussion about testing.
Let me give you
my perspective. The testing of the reservoir is
based upon time released production rates as compared
to pressure drops over those same intervals. To
oversimplify it, its like letting the air out of a
balloon....the bigger the balloon, the less the pressure drop
over a designated period. Don't want to make it sound
too simple, but the fact of the matter is that the
tests are run for an interval of time ( some as little
as a 24-hour period) and from that a pressure drop
(along with other associated data such as the amount of
oil, gas water, condensateis observed and used for the
reservoir analysis. This data alone is useful...but when
iit is coupled with the seismic and structural
mapping data, it forms a very educated analysis of what
the reserves may be. There are some things which
complicate this process, like faluts and other structural
trapping mechanisms, recovery factors, etc.. The faults
can l tend to divide the overall reservoir into
individual sub-reservoirs, which may not communicate with
each other. Hence the full potential of the reservoir
through the production testing of one or two wells may
not be realized. In this case, more wells would be
needed to test all of the sub-reservoirs....and this
happens at each productive interval in the well. I
believe that HEC has a good idea of the extent of the
reservoir and where the structural traps and faults are.
Unfortunately we don't...so we will have to wait until they do
their due diligence in testing the reservoir as they
see fit. I am advised that Ryder-Scott Petroleum
Engineers are doing the reservoir analysis and reserve
calculations. They are a very careful and conservative
Houston-based group that have been traditionally relied upon by
banks and lending institutuions to protect the money
they were lending out on oil & gas ventures.. That's
good and that's bad...it's good because you can
unquestionably depend upon their numbers,; its bad because they
are (more often than not) substantially lower in
their estimates than the actual recoverable reserves
end up being They have often killed some good oil &
gas deals based upon their conservatism. Tust me I
have seen it happen on some of mine. We'll just have
to wait and see what they come up with..
been told that an announcement on ESTERO #3 wil be
coming out tomorrow. Let's wait and see.
" Mr. Oilseeker", being on the same side of the
fence as HEC, how would you interpret this financing
deal from a stockholder point of view. Myself I get
very excited and want to buy more stock, NOW!!!!Any
insight would be appreciated.
Thats almost FOUR miles away.... thats
a long way geologically.
I know that in relative
terms of distance between wells in Columbia, that seems
close.... but geologically, its a long, long, way. I think
a lot of non industry people fail to understand
this point. Thats why I find HEC's success rate so
They are doing something right with their geology and
seismic work!! and.... they are sooooooo
Finding oil is the hard part and they have been doing
The Islero #1 is riskier because it is farther
south of the 7 Seas field. It is also across a mapped
fault from the field and the Guadual well. Faults can
make you or break you and are hard to predict as far
as there effect on production.
HEC has two
Parker rigs under contract.
It looks like Islero is adjacent to Guadual and
that the Islero well is about 6 km from Guadual 1. Is
this really that far apart geologically speaking? or
am I misreading the map?
Thanks for all your
answers. I sent Bruce Huff a email asking for a breakout
of the 8 Billion.
The rig was to be moved "as soon as possible" to
drill the Islero No. 1. Some have said the rainy season
has started down there, so who knows when that will
be.Whether Guadual or Islero has more potential is something
else i wouldn't know. The company will have various
reasons for the timing of drilling different prospects.
These locations are very far apart geologically
speaking. I really don't think the Islero will have much
bearing on the Guadual. However, it should be noted, that
no matter how the Islero turns out, much will be
learned from drilling it. These wells are wildcats.
Serendipity comes into play in this kind of drilling. IMHO,
HEC has found something really exiting in the Bolivar
alone. I don't think you would call Bolivar an
"elephant" yet, but it sure is looking like it may become
one. Chuck Strain seems to think so too.It was my
understanding the Estero drilling rig was moved and a
completion unit for testing was put over the hole.How
Faulkner breaks out the 8 billion .... I don't know.So for
all those q's I didn't know, maybe some of the others
do know the answer.Keep Smilin' and remember
PATIENCE. Its a hard thing to learn.
Questions from Maniac... Major Harken fan, but
not much expertise on oil drilling!
drilling Islero #1 next - do we know exactly when this
drilling will start?
Is Guadual considered higher
potential than Islero? Is it higher potential because is is
north of Islero and closer to the Emerald Mountain
If a big strike is found at Islero #1,
does it improve the prospects for Guadual (it seems to
me that it would because Guadual is between Emerald
Mountain and Islero (or is this thinking too simplistic)).
correct spelling is Cambulos.
considered the elephant, or is the entire section (Guadual,
Islero, Buganvil, and south emerald) considered the
where are the two drilling rigs today?? Is the rig at
Estero #3 a drilling rig or some kind of prodution test
rig? (is there a difference?)
Does anyone know
the breakout of the 8 Billion potential proven
reserves that Faulker talks about? how many BBB in each
location (Alcaravan, Bocachico, Cambulos,
Am impressed with your familiarity with Harken,
kire00, and have a question upon which I would greatly
appreciate you or anyone else on this thread responding
Are you aware of whether any other drillers other
than Parker Drilling (PKD) are working for HEC in
Columbia? My understanding is that PKD has either two or
three rigs working full time for HEC on a long term
contract. Also, from what I have been reading on this
thread and S.I.'s, I am getting the impression that the
experience PKD is gaining in Columbia is quite unique, i.e.,
horizontal drilling under very high pressure in very
difficult to get to locations in a hostile country. The
only element that is new here as far as Parker is
concerned is possibly the high pressure horizontal drilling
but I am not sure.
Can't help but wonder what
this experience will be worth to Parker Drilling
should HEC bag their mega elephant.
advance for your reply,
over a long period of time Bolivar may prove to
be as proficient as Cambous but on a per well basis
Bolivar isnt in the same class as Cambous. I am looking
at what will drive this stock within the next 6
months and it wont be Bolivar driving it. Cambous gives
harken the opportunity for a dramatic price increase
immediately if successful. Bolivar will provide small and
stready growth. Being very high risk adverse (thats why i
bought harken) i am looking to bag the elephant. The
elephant lives in Cambous (Guadual) not in bolivar lease.
My feeling is that Faulkners shares my feelings
about Cambous and from what i have heard from
friends...its the reason he got in Colombia play in first
place. The count down has started two wells to go
(Estro, Islero) then then we go Elephant hunting