Hi Red,
<<I think KOB doesn't even Know What they Own.As per Kob NR(Above)>>
Now, be fair. Just because you got confused:
<<6 months Results in 1998 Kob says 4.92 Working Interest
9 months Results in 1998 Kob says 5.2 Working Interest
Year -End results in 1998 Kob says 4.4625 Working Interest.
GO Figure>.>>
the above is not a "KOB NR", it's your reading of it!!!
If you'd read these things carefully, you'd note that KOB, (Kookaburra Resources LTD.), holds it's ELH interest through a JV interest in KOB Energy Inc., of which it owns 85%. KOB Energy Inc.'s
original interest in ELH was your above noted 4.92 %, or 1/3rd of STB Energy's original 14.765625 per cent interest, to be exact. O.K. so far.
Now round about July '98, Prima , one of the JV partners, stopped contributing to the ongoing sidetrack and drilling program, thereby forfeiting it's interest to the other paying partners. This put Kob Energy interest up to 5.25 % of which KOB's (your stock's) interst is 85% or the 4.4625% you seem to doubt now.
Check it out and have a good time.
P.S. The squids are out there, watch out!!!
This is about my 6th attempt to post this so may have the answer already, but just in case.
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