V.EGG - Ebony Gold & Gas Message Board

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Gold/Mining/Energy : V.EGG - Ebony Gold & Gas

EGG 3.799

-3.6%

Dec 5 9:30 AM EST

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To: Michael Hylton who wrote (1016)	10/20/1997 12:17:00 AM
From: Coho	of 1088

Michael, The crux of my conversation centered around my question, Why would a major player like American Hunter be interested with a small and tainted company like Ebony? The answer was fast and simple, They aren't!!! What American Hunter wants is a piece of the play! The property is huge and its potential is outstanding. What makes Ebony's scheme even more attractive is the pipeline which virtual allows risk free exploration. Why?? Dry holes are a matter of course and expensive. But, in most instances there will be gas. The pipeline facilitates the gas which will pay for, or at least off sets the cost of a dry well. Development of the lease will commence along the existing pipeline and will expand with the pipeline extension. The company is also very confident a deep exploration of the property will be initiated after the shallow program is established. I was also told the company has compiled extensive satellite and magnetic evidence gathered over the last 1.5 years that makes it very compelling to a potential JV partner. The company hopes to have the agreement completed very soon. It was my impression only some minor due diligence was yet to be performed. My comments were based on my telephone conversation. I have little knowledge of the oil and gas business and was only attracted to the stock because of my past relationship Ebony's IR people. Have a good week, Don

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