Bad Shot… Really Good Results

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Anybody who has been on a golf course more than once has had the experience of hitting a really bad shot and getting a really, really good result. Think 40 yards off the green with a bunker between you and the pin, you skull the wedge, it hits the lip of the trap where a sprinkler head lives, which pops the ball up and onto the green where it rolls to within 2 inches for a tap in par.

Sometimes, oil and gas is like that.

Take Idaho, for example. Based on our data there were 180 wells in Idaho. All of them were either dry holes or abandoned locations.

Bad Shot… Really Good Results

However, there WERE several wells with gas shows… and some of those were in Payette Co.

Bad Shot… Really Good Results

So , these were the skulled pitches – shots with potential that just didn’t quite come off as planned.  Some of these wells had, well,  DEFINITE shows…

Enter the pros from Dover (remember MASH??). Or actually, from Canada. Card-carrying WWA (Wildcatters With Attitude) members Bridge Resources Corp and Paramax Resources Ltd. are on track to begin commercial delivery of gas from five wells in Payette Co. at an estimated combined system rate of 5+ MMCFD from a minimum development footprint of 5,000 acres.

Given that their (Bridge, Paramax) combined leasehold is 100,000 acres, maybe proving up only 5,000 acres (so far) wasn’t a big enough plum to defend their public valuations as shown here (chart is for Bridge).

Bad Shot… Really Good Results

But with a mean estimate of gas in place of 137 BCF (with associated condensate) you’d think that they’d get a free drop and put at least a par on the scorecard.

So, remember those that went before you. They were often closer to heaven than you think.

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