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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v)
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To: Geoff who wrote (2782)11/13/1998 2:29:00 PM
From: andrew r harwood  Read Replies (2) of 3335
 
well i find it absolutely fascinating to try and read the tealeaves.the positive about this announcement is that it is with alberta energy which is a large canadian company .to my knowledge no details have been revealed including where this natural gas project is ,it also says evaluate ,it doesnt say anything about drilling etc .as they say the devil can be in the details .
the market reaction has been small to none .epic still has a large number of shares out ,very little cash other than that raised recently at the cost of big dilution at low share prices .it has no resevres and no cash flow ,it currently has no plans to drill to our knowledge.many of the small golds that i have had the misfortune to invest and loose money in have had at one time or another a jv with a larger company in most cases after some exploration the jv falls through and the major withdraws.
it is also interesting that epic has appeared again last night on stockman so the drum beat begins again .
i cannot conceive without some major exploratory success that epics shares could possibly go up to 2$ and who knows how long it will take to crank things up .the natural resource sector remains very depressed right now though natural gas prices are holding up fairly well but oil is terrible with many companies laying off personnel and reducing budgets .a really cold winter is needed to turn things around . so i interpret the announcement to mean that epic is not totally dead but in my opinion its going to be a long haul before anything concrete in terms of exploration and finds and production materialize arh
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