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Gold/Mining/Energy : Bearcat (BEA-C) & Stampede (STF-C)
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To: Bearcatbob who wrote (1947)9/23/1999 7:24:00 PM
From: teevee  Read Replies (2) of 2306
 
Bearcatbob,
The only way to get an extension is to set and meet a spud date. Then the amount of acreage retained depends on the footage drilled or the depth of the well and at best will amount to a few sections around the well they want to drill. What this means is that most Bearcat lands will revert to the crown so others with the where-with-all can post, bid, acquire and explore and develop these lands as they should be. When minnows swim with sharks, they get eaten. Also, other than the few meager dollars BEA might be able to raise by private placement, they had there chance and will not be underwritten by any brokerage houses that I am aware of. When you raise and fritter away $38 million like these boys did, you aren't welcome back at the well. IMO, BEA is still a short, even at these prices.
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