From Shy Thread 222 ft of pay!SUBJECT: Newfield Well Finds 222 Ft. of Pay!!! Posted By: ajootian
Post Time: 2/20/2006 21:22
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From the 2/8/06 edition of the "@NFX" online newsletter on Newfield's website:
"Central Texas
We drilled a significant development well in the Provident City area of Lavaca and Colorado Counties. The EPC 1-3 was drilled to 17,480’ and found 222’ of net gas pay. The well is currently being completed. We are drilling an offset well at this time -- the Baber Estate #1. Newfield is the operator of both wells with a 100% working interest."
As you can see on slide #7 of Sharon's November presentation, these well names line up with the well names on that slide, showing the abutting lease to Sharon's Allen Ranch field.
Let me tell you something boys & girls, 222 ft. of pay is a truly massive discovery. As shown by the seismic, Sharon's zones look the same as Newfield's on paper. Then we hear that Sharon's latest Allen Ranch well has 8 zones of pay. This strongly implies to me that Sharon's well has discovered a huge gas field.
Why did Sharon decline to advise us as to the amount of pay that they found in their well? I can only hope that it is because they are still trying to lease up more surrounding acreage. In any event, I dare not sell a single share of my huge Sharon position in fear of selling before knowing what they really have over there. And I don't give a hot damn how low natgas prices go, when you discover this much gas you will make money at $2 gas.
It will be interesting to hear how this next Baber well does for Newfield. As you can see, it is snuggling up right on the lease border between them and Sharon. It would not surprise me if whatever they are going after spills over onto Sharon's acreage, which means that if they discover gas then all Sharon has to do is stick a straw down right next to them, on Sharon's acreage, and drink from the same fountain!!