V.EGG - Ebony Gold & Gas Message Board

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

EGG 6.240

+3.0%

Jan 30 9:30 AM EST

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To: Scott Ramsay who wrote (527)	4/27/1997 3:48:00 PM
From: Paul Kramer	of 1088

Scott................... You Wrote: "1.) Why would Ebony need another PP if they just hit oil and are expecting considerable cash flow from this well?" Reply: I was told that a million dollar financing was in the works, and that was before the gusher came in. In fact three potential investors are being flown down to the properties later this week as part of their due diligence. It's my guess that the company needed an immediate infusion of funds to pay for continued development of existing properties and the acquisition of new prospects that were identified with the help of Steven Tedesco. Since the arrival of the Ledbetter No.3 however, the company's financial needs have been altered dramatically, giving Ebony much more flexibility. For example, the increased cash flow could enable Ebony to pay for drilling rig through a convertible debenture. If there will be a private placement or debenture the good news is that there'll be less dilution, in all likelyhood, due to the changed financial conditions. "2.) Why did Golden Capital dump so much stock on Friday?" Reply: Golden Capital has been all over the stock for the past five to six weeks providing yours truly with 40,000 shares in the low sixties (Yum Yum thanks!). I was told by Jim Blair that there was "a changing of the guard". It's natural in any company to have different players moving in and out. I wouldn't be too concerned about this person/s as if they had not been selling yesterday the share price may have risen too high, too quickly, attracting short sellers. Right now this person/s is providing new entrants with well priced stock and adding liquidity to the market. Take care and do verify ALL comments made on this thread before putting you're hard earned money down. Paul

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