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Gold/Mining/Energy : American International Petroleum Corp
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To: R Hamilton who wrote (1007)7/30/1997 6:10:00 PM
From: Thu Ra Tin   of 11888
 
>>did anyone that talked with reuters ask if a correction to the second article would be made: the very simple to verify fact of volume traded????<<

Here's the correction to the second article.

CORRECTED-American Intl Pete shares slide

Reuters Story - July 30, 1997 16:39

%ENR %US %HOT %STX %KZ %EEU %LDC %EMRG %CRU AIPN V%REUTER P%RTR

In NEW YORK item datelined July 29 please read "volume of
2.37 million shares" instead of "23.7 million shares".
A Corrected repetition follows.
NEW YORK, July 29 (Reuter) - American International
Petroleum Corp shares slid 13/32 to 2-25/32 on Tuesday in heavy
volume of 2.37 (correctes) million shares after some investors
exited the stock due to doubts that the company will be able to
translate its huge Kazakh oil find into cash.
"There was a news article which was viewed as being
extremely negative," said one analyst.
Company chief executive George Faris told investors and
potential investors on Monday the company lacked the capital
for a comprehensive drilling program on its 4.7 million acre
concession, but that he had been approached by several
companies offering finance in exchange for stakes in the
project.
However, analysts note that although companies typically
receive large licenses with huge reserves in Kazakhstan,
actually drilling out oil and producing at a daily rate
sufficient to generate a decent return is not easy.
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