Mekkah speaks to Joe Kandle on 28 Sept
A crosspost from RB -
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In a conversation with Mr. Joe Kandle this evening, I was able to get the following information:
(I have noticed that there are many people on this board, especially NON-shareholders, who come here and stump their feet and constantly demand information from other posters on this board, yet they are evidently too lazy to just pick up the phone and call the company.)
Mr. Joe Kandle had this to say in regards to the "PRIZE" he is seeking to find at the EKHO project, and the reason that he is so persistently pursuing this project toward the goal of ultimate success:
Today with the development of new methods and technology, our chances of success are much greater than several years ago.
"Given the 440 vertical feet of the Vedder with 320 acres, and only 50 barrels per acre foot recovery, the Vedder alone has the potential of recovering about 6.5 million barrels of light sweet crude at the EKHO-1 well. Add that potential to the 250 vertical feet of the Olcese and an additional 250 vertical feet in the Monterey shale, and we have the potential to recover about 15 million barrels of oil from the EKHO-1 well."
At $40 per barrels for such high quality oil and its associated gas which has already been discovered, the EKHO-1 has a potential to deliver about 600 million dollars gross amount. Not bad for a well that has cost about 8.2 million dollars to drill and complete to date, according to Mr. Kandle.
Tri-Valley has the potential to drill up to 50 locations within their acreage block within the EKHO project. Extrapolating that at a potential of 15 million recoverable barrels of oil for each of those fifty wells, and we maybe potentially looking at a grand "PRIZE" of a gross amount of over 30 billion dollars for the entire project EKHO.
That is precisely why Tri-Valley is now engaging in this pioneering fracing effort in order to disprove the old and outdated concepts of over two decades ago, which are now being constantly brought up again by the likes of Geojacobs and Mick Yaggar, etc, as though it were some newly discovered geological gospel. To think that Joe Kandle has not been aware of that fact long before he ever planned to drill this EKHO well, and that how all of this is a big surprise to Joe Kandle, is simply preposterous.
Joe Kandle is constantly reviewing different new concepts used in deep oil drilling around the globe.
That, I believe, should be far more than enough to start a new gold rush for drilling such deep with tight formations in California by the big boys of the industry, once it is proven to be an achievable feat. Joe Kandle is out there trying to prove that all this is possible, naysayers be confounded.
The golden key to all of this, of course, would be to successfully implement the appropriate fracturing technique, using good oil field practice, to bring the EKHO-1 on line, just as Mr. Kandle and his technical team of experts are currently attempting to accomplish.
To that end, and armed with all the new data derived from the successful data frac just completed, Joe Kandle is leaving on Monday morning for Dallas, in order to conduct a three-day consultation with a number of world class petroleum and reservoir engineers. (You all are welcome to contact Tri-Valley and double check all the above information for your selves.)
In short, by all means, DO your OWN due diligence and then make a decision if you still would like to be part of this grand project. I know that I do.
Mekkah