Moderated By: darra -- (Not Moderated) -- Started: 12/1/1997 Revision History
1 403 264 6697 (Calgary)
Anyone have any thoughts on this company? They could fly pretty high if the Nefta No. 1 well hits in Tunisia. Eurogas is the lead in the JV. NF-1 is very nearly at depth, drilling on three stacked targets. Projected reserves, based on analogous reservoirs in the Ghadames Basin, are 700 million bbls of oil, or 10 trillion cu. ft. of gas , with 600 million bbls of associated condensate. FCP is paying 15% of all well costs to casing point, and 10% thereafter, to earn 10% interest in the well and the 700,000 acres within the Sud Nefta permit. They also have highly prospective plays in Yemen, China, Louisiana, and West Texas. FCP closed 11/28/97 at Cdn $.90, with about 23.8 millions shares out. |
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