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Gold/Mining/Energy : CANADIAN OVERSEAS EXPLORATIONS (CVC.V)
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To: Vic Whit who wrote (5)3/29/1997 7:55:00 PM
From: Rook   of 113
 
Vic, thanks for your questions. Here are my responses:

Q: Is the Feb. 7 news release a bad sign?
- No. It was a predictable self serving document The release was
created by the new management and if you put yourself in their shoes,
you will realize their objectives. Just like a new government coming
into power, they were quick to label their predecessors as
incompetents. They also put an overly bleak spin on the current
condition of the company so they could be hailed as saviours when all
things returned to normal. Furthermore, the market has already
factored this 7 week news into the price of the stock, and as you can
see, the earth has not caved in on CVC.

Q: Is this the worst news release CVC has ever issued?
- No. I don't want to clutter up this page with old releases because
it will be a distraction from my main points but if anyone is
interested, I will post some ones that will show that CVC has bounced
back from turmoil on several other occasions.

Q: Does CVC have large liabilities?
-The numbers mentioned in the news release are a joke. $87,957 is
next to nothing for a company listed on the VSE. If they have
problems reaching a `compromise' with their creditors, they have many
other people they can to turn to. In fact, I'd welcome them with
open arms.

Q: What do they mean by reactivate the company?
- This was a strange term to use since the company has always been
active where it counts the most: on the trading floor of the VSE.
It can only be assumed that they mean taking an active role in
acquiring new properties.

Q: What causes the annual upswing?
-Stocks like CVC have annual upswings because it is the only way that
the insiders can make money. There are no salaries worth speaking of
and few directors have the skill and energy to create a `real'
company.

Q: Is the price rise going to repeat this year?
-The probabilities are certainly on your side. If management wants to
make significant money they will have to drive the price above 15
cents. Only then will the B.C. Securities Commission allow them to
issue private placements and stock incentives. Last fall, they tried
the easy way out by proposing a 1 for 5 stock consolidation (thereby
making the price 25 cents) but the shareholders wisely voted that
initiative down. The clear message sent to management was: "you will
only be rewarded if there is an increase in the stock price."

For the sixth year in a row, this is what is likely to happen.
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