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Gold/Mining/Energy : American International Petroleum Corp
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To: qdog who wrote (142)7/12/1997 11:38:00 AM
From: Al Serrao   of 11888
 
qdog, thanks for your imput. Its always good to have a pro speak. I have followed this company and the CEO for the last three years. Here's what I know.

They had a deal in Indonesia that required 17 million dollars . If they could have delivered the funds they would have had resreves that would have valued the company @ at least $10/share when the stock was trading $1.5/share. The only way they could raise the money was by selling the refinery which was under contract for 17Miillion. The buyers couldn't deliver and the Indonesia deal fell apart. I was attracted to the stock because of the large insider buying. You have got to like it now for the same reason.

Let me try and put a number on this and qdog please correct me. I understand, that proven reserves are valued at $5/barrel. If the lease goes through as planned and they are sucessful at proving the reserves are there, what do we have? Lets assume they are only capable of proving 550 million barrels. Value that @ $2.5 /barrel times 70%equals 962 million dollars. With 36 million shares outstanding that equals $26/share. Crazy numbers ? Impossible! Maybe and maybe not. The history of this company show the same pattern in its eary life.

Very high risk betting on a company that hasn't made money in many many years. However, what we have here is a dealmaker that if sucessful,will be highly rewarding.
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