Steven Ward

The Bakken Trend: Lost Dutchmen Mine of the Oil Patch?

The USGS has released their report, finally, and it states 10 billion boe. Way, way to conservative. This is the same figure geologists came up with in 1978.
The only reason Bakken reserves got higher in the 80's and 90's is that alot more data and computer analysis were added from the original 10 billion report.
Conclusin: as the years past by and more extensive data was collected the range went higher not lower.The USGS is not conservative, they are just plain wrong.

The Bakken Trend: Lost Dutchmen Mine of the Oil Patch?

Also for the very hearty risk taker, ( I love an adventure) you can look at American Oil and Gas, AEZ, trades Amex @3.86 per share with 87,000 Bakken acres called "Goliath, where Whiting Pete, (WLL) made a discovery in the middle of the "Goliath".

Or look at Painted Pony Petroleum, trades TSX @ 7.65 per share. Symbol, PPY.A. PPY scored enough dough to drill in the Saskatchewan Bakken for several wells and bought some wild wooly acreage in Northern B.C. Up alot this year, but I like it for at least a little investment.

Happy Returns

The Bakken Trend: Lost Dutchmen Mine of the Oil Patch?

To Mr. Platt;
sorry for the late reply but I've been busy.
Here is my breakdown for the Bakken Investment at 100G's.

Continental Resources, (CLR): 800 shares @60.00 per share, $48,000
Northern Oil and Gas (NOG): 2.000 shares @ $10.00 and change per share, $22,000
Crescent Point Energy Trust, (trades on the TSX, CPG.UN) 800 shares @ $37.00 and change, $29,600

Note: last week CLR discovered a well with a larger than expected flow rate. The significance of the well lies in the fact that it was drilled in one of Geologist's Julie Lefever's "other Bakken Zones"
Good Investing

The Bakken Trend: Lost Dutchmen Mine of the Oil Patch?

BEXP would probably not be considered a pure Bakken play as BEXP still drills in Texas and Louisiana and has production there. The percentages of production compared to the Bakken, if BEXP has any, I have not checked on nor have I checked on BEXP prospects in the Bakken. As I have said, there are plenty of new entrants a lot to choose from.