RE: Dear JCVHPMC... see below from the President's message. I gotta step away from this for awhile, the more I think about it, the more enraged I become that JCVH would recommend buying just before Barry's message that basically indicates a slow move forward measured in months. WHAT. THE. F$#%CK????
The site surveying portion of the US$900,000 3D seismic survey has now begun, with data acquisition planned to be completed by the end of November. The survey will cover 4.5 square miles centered on Section 12, where the initial development will begin. Data processing will take two to three months, with the initial data ready for review in February, 2005. A preliminary interpretation of the Section 12 area will be completed later in 2005.
Several vertical injector wells are currently planned to be drilled in April of 2005. The positioning of these wells will be based on the interpreted 3D seismic survey and on results of the planned third steam cycle. Future development planning at LAK Ranch will be dictated by the integrated geologic / 3D seismic model that will be developed in 2005. The current plans consist of using vertical injectors and horizontal producers to better expose the reservoir and maximize oil production.