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Gold/Mining/Energy : Midland MRIX, MRIXZ
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To: S. Thomas who wrote ()3/16/1997 3:57:00 PM
From: Ed Ajootian   of 32
 
I have a big position in MRIX and follow them closely. They should be
announcing the flow rates of the first of three exploratory oil wells
this week. From talking with their IR guy (Mark Kahil) it appears that
all three have discovered oil.

They also discovered oil in the last well they drilled, which was the
first exploratory prospect in which the company ever drilled. So this
will make them 4 for 4, a phenomenal hit rate. They are exploring in
the Permian Basin of West Texas, a prolific petroleum-producing region
that has long since been abandoned by the major oil companies since there
aren't large enough targets left.

But there is still plenty of little oil pools left that are just sitting
there waiting for someone to shoot with 3-D seismic and pinpoint where
the juice is, then drill holes and get rich.

Based on just the rumor and innuendo the market has amply rewarded this
company's stock price by causing it to double, on huge volume. But I feel
that although the _biggest gains are behind us, the _easiest, lowest-risk
gains are still to come.

The company is actively talking with several Wall St. securities firms
about doing some form of financing. They will need more funds to drill
out these new fields that they just discovered. One of these firms
(my guess is that its either Rauscher Pierce or Oppenheimer) will sign
on to do a deal for the company.

Usually what precedes this is a "buy" recomendation by the firm's O&G a
analyst.

For more background on the company go to the following URL:

westergaard.com:8080/Strain/2000/mrix.html

There is also a good overview of the O&G microcaps at the O&G 2000 site
there.

If anyone is considering buying this stock I strongly recommend getting
in before the news on this next cycle of wells gets announced.
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