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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: HAZ who wrote (6802)	9/4/1999 5:08:00 AM
From: Kerm Yerman	Read Replies (5) of 24921

HAZ / Courage-AltaQuest These conversions work themselves out in time. In this case, it looks like Courage's price may move a wee bit lower. I say this because AltaQuest shares have already increased in value from $0.75 to $1.08 since the initial offer. (40.0%+) I'm not totally confident that the merger will be approved. There's a lot of infighting at AltaQuest. Apparently, the "independent committee" which determined the feasibility of the merger and ended up recommending such, are not the officers or directors which own or control the majority of shares. Two directors of the company have already stated they have commitments amounting to 45% 0f the outstanding shares and will be rejecting the most current offer. If accurate, they only need 5% additional support to defeat the merger recommendation. If that happens, Altaquest stands to lose quite a little cash on a trashed deal. That's my interpetation at this point in time. Personally, I wouldn't be buying shares into either of these companies until this situation comes to a close. Just my two cents worth.

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