Pan East Petroleum PEC-TSE Several Projects Starting Message Board

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Gold/Mining/Energy : Pan East Petroleum PEC-TSE Several Projects Starting

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To: Syncrude who wrote (18)	8/5/1997 11:27:00 AM
From: D.E. Shetland	of 73

I think management learned their lesson with Berland River #4 and Edson being busts. The appropriate thing to do is go out and drill like hell and put out a release with all the good, bad & ugly. That way one exploratory hole won't ruin all the good news. I received a report from Nesbitt recommending it up to $6.50. THey state that they have been very successful so far this year in Strachan basin (80% success rate --I guess 4 for 5). I'm not sure, but I think they have to release news if it is "material". I guess that means cummulatively or individually. I would guess they're waiting to see how Bullmoose and a few others work out and will then update the market on the whole program, not just one hole. I guess that might take another 3-4 weeks. They've got their plate full with projects, so between now and end-of-year it could get more exciting, but so far it's been dead in the water!

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