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Gold/Mining/Energy : mxp (mesa Inc)
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To: Ron Schipper who wrote (231)4/7/1997 8:58:00 AM
From: Bryan Arnold   of 394
 
It doesn't look good with Mesa shareholders only getting 1 share for each 7 that they own. Just looked it up and if you are a preferred stock holder of Mesa, you can either get 1.25 shares of common stock in the new company for each 7 shares you own or you can get a new class of 8% convertible preferred in the new company based upon the ratio of 1 share of the new class for each 7 shares of the preferred Mesa you own. Which ones looks better to everyone?? Probably take sometime to figure out but I wanted to see if anyone had any ideas.

I agree with you about voting NO on this merger but with the amount that Rainwater holds, I don't think that it is going to make a difference.

What does everyone think about the merger after the initital rection of a NO VOTE?? They will have reserves of 1.9 trillion cubic feet of gas and 293 million barrels of oil. They will be the third largest independent U.S. oil and gas company. Just wanted throw some stastics out there.

I guess we will have to wait and see how the market reacts to this news?

Bryan
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