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Gold/Mining/Energy : Ultra Petroleum (UPL)
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To: LowtherAcademy who wrote (4375)9/10/1999 11:14:00 AM
From: Hickory  Read Replies (2) of 4851
 
Thanks, Lew.

And my response to your posting of the details of the Laird deal (with the minor corrections to what you had posted earlier) is also on the AOW thread.

There are pros and cons to both deals--some of which I explain there.

The big disadvantage of the Laird deal is that it reduces AOW's interest in Gemini production from 42.5% to 10.63%.

The big advantage of the Laird deal is that it is workable.

The big advantage of the Jarvis deal announced on AUg. 27 is that it preserves AOW's 42.5% interest in Gemini production.

The big disadvantage of the Jarvis deal is that, in my opinion, it simply isn't feasible without reducing existing stockholders' equity to virtually nothing.

Regarding the issue which could have a major impact on UP----the legality of either deal, I don't have the info on which to base even a tentative opinion. I'm just waiting.
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