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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Razorbak who wrote (5771)5/26/1997 9:53:00 PM
From: richard hawkins   of 9164
 
Razor: Thanks for the input regarding Strain's perspective that:

<<the price of the stock has become detached from the expected value of the company's 25% interest in the concession....estimated minimum break-up or net asset value of $16 per share>>.

Is this kind of like a detached retina? .

I am sure this is their discounted present value of their reserve estimates and is higher than any other I've seen; however, I do respect their expertise and wonder why they don't go out on a limb and issue a renewed BUY recommendation . Of course they operate in the hinterlands of the market and any recommendation would not likely reach the wires.

Both the Strain and Credifinance research reports you refer to preceed the Sands buy-in and I wonder how this event, the progress toward peace in Sudan, the McLeod ouster, Oman prospect have tempered their respective outlooks.
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