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Saratoga Resources Inc. Message Board

baby_face_finster 2 posts  |  Last Activity: Apr 27, 2015 4:44 PM Member since: Aug 8, 1999
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  • Reply to

    Question for Serious Investors

    by saxa1984 Feb 21, 2015 9:47 AM
    baby_face_finster baby_face_finster Feb 24, 2015 12:24 PM Flag

    BLMC gets an ORRI (B&L subsidiary gets 1.5% ORRI, BLMC slightly less) on approx. 60,000 acres in the Highlander area. Besides the Highlander #1 (Lamond North) structure, FCX has mentioned there are "several" more structures that are prospects in the Highlander area.

    BLMC does not get an ORRI on Lineham Creek, GULTU does. I don't think either gets an ORRI on Farthest Gate West.

    The shelf UD is probably dead - at least for the foreseeable future. The onshore ILT seems to be more of the "sweet spot" in this play and is much less expensive to drill & operate than on the shelf.

    Between the two (BLMC and GULTU), I tend to lean towards BLMC. I believe it has higher potential should the onshore ILT work out (which is looking better now that Highlander #1 was tested - will have to wait and see how it produces over the next year to make a better determination). However, that is just my opinion (and, I own shares in BLMC). FWIW.

  • Reply to

    revaluing

    by mullam4444 Apr 27, 2015 10:19 AM
    baby_face_finster baby_face_finster Apr 27, 2015 4:44 PM Flag

    The united LNG/MMR plans to use main pass as a LNG export terminal have been scrapped. The United LNG website is no longer available. The plan was to use ultra deep SHELF gas to be processed by the proposed Main Pass LNG facility and exported. Since the ultra deep SHELF gas has not worked out, the project no longer makes economic sense.

SARA
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