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Gold/Mining/Energy : Pan East Petroleum PEC-TSE Several Projects Starting
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To: D.E. Shetland who wrote (38)11/6/1997 9:32:00 AM
From: HAZ  Read Replies (1) of 73
 
D.E.

The longer we go without any news or updates the more negative it appears and the stock drifts lower and lower.

I was wondering how they managed to get 2.85 for the Private Placement, it must be with one of their institutional shareholders.

If I were an influential investment house and I knew that things weren't as they appeared (inside knowledge of new potential reserves & production), I would also consider investing in a PP for a higher price.

At some point the company will have to reveal new reserves and potential production and the stock will move at that time.

This company has not tried very hard to promote their successes and consequently the stock price has suffered.

Have there been any new stock options offered to management in the recent past, say exercisable at 2.20 range ?

Every company has an off year every once and a while and 1997 is definitely not PEC's year, however maybe they are getting ready for a very good year in 1998.

I know that is may sound illegal but if I was management and I knew I had institutional support and money, I would let the stock hit the lows before stocking up on cheap options.

I know it may sound far fetched but I have to justify this disastrous year somehow.

Let's hope we have some good news soon.

p.s. did you ever pick up some Shell Canada, it has done very well since the summer , from 21 to 28.

Cheers and good investing
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