KOB.TO - East Lost Hills & GSJB joint venture Message Board

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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture

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To: grayhairs who wrote (4004)	8/16/1999 8:54:00 PM
From: davo	Read Replies (4) of 15703

Xenolith (ASX:XEN) Hi guys, Whilst I haven't said anything for a while I've still been lurking down here in Sydney. Congratulations to Grayhairs for the 4000th post, somehow it seems fitting given his vast contribution. Unfortunately grayhairs everyone is too cash-poor to offer any prize! Xenolith has moved from 17c to 21c on ASX today, with the sell side thinning. The ELH story still doesn't get much play here with the pursuit of dotcommas occupying most minds. They will learn. A few points on Xenolith: 27 million shares, no options/warrants top20 held about 60% at last notice KOB has about 5% Debt-free with real-estate holding it can sell for finance. ELH interest via 2 holdings: 1. XEN has 4.2 million shares (18.67%) in the TSE listed Kookaburra resources (KOB). KOB has 85% of the direct well investor Kookaburra energy (unlisted) which has 5.2% interest in ELH. 2. XEN also has a direct 6.2% interest in Kookaburra energy. Valuation 1. KOB holdings worth A$9.7 million or 35c per share (at last close) 2. If KOB energy worth is derived from the value of 85% holder KOB then XEN 6.2% holding is worth A$3.6 million or 13c per share. So in theory XEN assets are worth 48c per share and it is trading at 21c and rising rapidly. This play is beginning to move on both sides of the Pacific! I might stand on the roof and see if I can see that flare tonight, never thought I'd be so loving of flares. <ggg> Cheers, Davo. The above comments are my opinions only and should not be relied upon when making investment decisions. I am not a licensed advisor.

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