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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Larry Brubaker who wrote (5715)5/24/1997 5:16:00 AM
From: Edward M. Zettlemoyer   of 9164
 
Larry, oh yes, Saudi Prince Sultan Bin Saud Abdullah Al Saud, President of Arab Group International. The July 7th '95 Wall St Journal reported that (according to Arakis executives) Arab Group International guaranteed the pipeline would be built and will provide Arakis with a 405 million noninterest-bearing letter of credit. Sounded pretty saucey at the time, even fooled some fund managers. The stock was halted on Aug 22,'95 (@ 12.0781), commenced trading on Sept 22 with a volume of 9,151,300 for the day, closed at 6.25 (-5.75).

For those discouraged by the low volume lately, look at the bright side, there has been less selling going on. Ed.
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