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Gold/Mining/Energy : American Resources of Deleware (GASS)
GASS 7.860-2.2%3:59 PM EST
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To: Jamey who wrote (75)5/14/1997 7:22:00 PM
From: Ed Ajootian   of 172
 
James,

Yes, I keep an eye on O&G futures prices and saw the rise too.

There are other factors that are going to override the positives to
GASS of higher O&G commodity prices it appears. It was most disheartening
to get the June MoneyWorld and still not find the 4 page spread in there
but rather only the 3/4 page advertorial. At least they updated it for
4th quarter numbers this time.

I know I have said that it is not a surprise to see the continued down-
draft in the stock price but the fact that the stock is not holding its
own in view of the impending 1st quarter 10QSB filing date is a very
big clue that there may well be a nasty surprise in that document. I'm
not worried about another private placement (as we've said that is
highly unlikely) but there may have been some other negative event,
perhaps on the production end, that has occurred recently.

In any event we won't have long to speculate since the form is due
tomorrow and should be available to the public this weekend.

FWIW I have been trimming my position fairly aggressively in the last
few days. I need to raise some cash for an upcoming financial obligation
and I figured the GASS position is gonna have to be the one to take
the hit.

BTW there are better stocks than GASS if you are looking for an oil price
play. Check out the thread here on Midland Resources (MRIX), e.g., which
is unusual for an O&G microcap in that the large bulk of its production
is oil vs. gas.
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