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Gold/Mining/Energy : WML Westminster Resources

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To: Bearcatbob who wrote (117)	8/20/1999 9:10:00 AM
From: Poseidonas	Read Replies (2) of 135

Research Capital estimates WML increase of $13.91 to $135.15 /share!! The report was done as a result of a site visit to the well locations in Bakersfield on Aug.12/99 and features BKP, ELK and WML. An analysis of potential incremental value per share sorted by multiple to share price for each of the partners in ELH and GSJB JV prospects reveals WML ranks third behind TMK and HTP. WML would rank 1st if you were to take margin availability of 50% on WML and downside risk potential on TMK and HTP.

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