Jersey Petroleum -JPI (was Jersey Goldfields -JRG) Message Board

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Gold/Mining/Energy : Jersey Petroleum -JPI (was Jersey Goldfields -JRG)

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To: David Reid who wrote (17)	4/2/1997 1:21:00 PM
From: burner	of 100

David, I just spoke with Jim Yates at Jersey. He is by far the most honourable mining person I have ever spoken with. Acquisitions should be made within 30 days. They are looking at a couple of dozen properties and through soil sampling have narrowed their serarch to 4 or 5 properties in Bolivia, Peru, Chile and Ecuador. They are encouraged by some of the numbers to this point. You probably know Peter Guest is gone as he was getting stretched too thin with his interest in other companies and it was felt a change was neccessary. It looks like Brian Fairbanks may take over the helm. They still maintain a field office in Ecuador that is being run by Jay Stonehouse. There is about $1.6 miilion in cash and with 18.5 million shares outstanding they do not want to do a rollback unless they were to get a very advanced project. Cominesca, whom they were partnered with, still owns about a million and a half shares and are negotiating a block sale with the original group. So I think we may see this stock fall into friendly hands. Regards, Dan Byrne

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