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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Jim Lamb who wrote (7399)12/9/1997 6:21:00 AM
From: Edward M. Zettlemoyer   of 9164
 
Jim, <don't know the similarities betwen AKSEF and IRPPF> AKSEF has a big advantage over other companies who are exploring virgin unknown concessions. Chevron spent approximately one billion (10 digit) on exploration on what is now known as the Arakis Concession. Chevron officals have stated in the past that the concession is believed to hold between 2 - 3.5 billion barrels of oil. Strain Consultants stated the up side could be as much as 10-20 billion barrels. The mega-millions spent on seismic data for exploration by Chevron is now under ownership of the Arakis concession. Other companies, although they will have to spend mega-millions to develop their concession to find any oil will have a free ride as they are not required to share pipeline construction cost but are assured pipeline service by the Sudan Government. Just a couple of highlights and why I would hold out for $10-12 in a take-over bid. Ed
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