Charger Petroleum Inc. Message Board

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Gold/Mining/Energy : Charger Petroleum Inc.

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To: Superstone who wrote ()	6/9/1999 12:24:00 PM
From: johnlag	Read Replies (1) of 58

CHC has a 14% interest in the West Coyanosa project. Estimates of reserves are from 400-800 BCF of gas. The market is awaiting news of this well. The company went public at .25 in December 1998, with about 8 million shares outstanding. They have raised $4.5 CDN at a maximum of $1.25. Current efforts are ongoing to raise $6 million at $6/share. Issued shares are at 18 million, fully diluted s/o is almost 25 million, giving the company a market cap of over $150 million. Book value at the interim report May 31 was about $1.6 million. I am unaware of any current cash flow or production, though there may be some. I have initiated a short position at $6.40. John

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