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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Kerm Yerman who wrote (96)8/20/1996 1:02:00 AM
From: stanley new   of 24935
 
To All: While I understand some of your reluctance to buy Vancouver listed O&G stocks, I think you are missing a rare opportunity in INDO-PACIFIC ENERGY(IDP.V). A recent large private placement was sold to a small group who know the company well. Also, a prior post stated that an exploration co. needed (1) management that was experienced and knowledgeable of areas being explored and (2) large land concessions in areas that are known to have large oil and gas reserves. IDP has both of these, and it has NO DEBT!! At last report it had $14 million working capital and has drilling scheduled in the East Basin of New Zealand in November in an area that the officials of N.Z. say may have huge reserves. Oil and gas seeps are found in several locations in this area. The company has huge land concessions in New Zealand, Papua New Guinea and China. The head of explor. is the former head of explor. for N. Z. OIL and GAS. The stock was very volatile following rapid rise, but it has smoothed and formed a pattern that appears ready to rise again. The trend has been steadily up. Dips have occurred at profit taking points after stock splits allowed early investors to sell some and still keep large positions. I hope I am not a sucker, but people close to the action say this is for real and could generate huge profits in near future. I welcome disagreeing comments or other positive thoughts. Sorry I went on so long. SN
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