DALTON RESOURCES DAL:ASE Message Board

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Gold/Mining/Energy : DALTON RESOURCES DAL:ASE

DAL 58.31

+1.6%

9:30 AM EST

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To: Garry R. who wrote (464)	3/12/1999 12:35:00 PM
From: Scotchman	Read Replies (1) of 486

To All: There should be a news release today from FST explaining what is happening with the Strachan play. FST does not have the money to buy out Apaches share (2.4 million), in fact, I've heard FST has no money. Apache will take back their share and resume operatorship. Now we will have some progress. Tusks interest was 30% in the twin, they are only retaining 10% (money problems?) and piecing off the other 20%. Dalton will pick up 2 1/2% (it could be more) of the 20%, which brings their total to 10% for the twin. This is the only company looking like it knows what they are doing and must be very frustrated with the other two "clowns". The rig is on site but all rental equipment has been released. Let's hope Apache takes over right away and they can spud this well before break-up. Looks like FST bit off more than they could chew and should consider getting out of the "Oil Game" based on FST's last two failures. I was wrong about FST, I made the mistake of assuming FST knew how to make things happen. Obviously FST doesn't have a clue. This whole play has been jerked around by FST, but the well figures are the same and this is still an excellent play! Apache will take this bull by the horns and will take advantage of these higher oil prices. Lets hope Apache buys out FST's share and keeps the partner (Dalton) that knows what they are doing on board. TTYL, Scotchman

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