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Gold/Mining/Energy : American International Petroleum Corp

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To: Ken Wesley who wrote (5347)	11/25/1997 10:18:00 AM
From: R Hamilton	of 11888

taxi, i've got a simple question. someone on this thread instead of cohen might be able to answer it. i don't have the news release describing the license terms, but wasn't the time period originally for 5 yrs for entire concession then aipn can choose the prime 10%? in the latest release, the 5 yrs CAN be extended to 9 yrs to allow for expanded work programs, but if i understand this correctly, with the exception of 10%, any drilling and oil to be gotten out has to occur within 9 yrs.... seems this would be a drawback for any major oil co...the texaco jv recently ann. was for 40 yrs... am i missing something? tia rhonda ps...what's time period for 10% ?

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