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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture
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To: Hopsalong who wrote (5646)10/12/1999 2:00:00 PM
From: F9driver  Read Replies (1) of 15703
 
I agree with your comments on PYRX. They seem to have the most prudent structure of all the players. They have 9-10% of the least risky play...ELH. They have approx. 3% of the JVC play with carried interest in the first wells...the most risky part. But best of all, they can increase their working interest in the JVC plays by "backing in" if they pay for the carried drilling costs as I understand it. How to get in to a card game after the deal! They do not seem to get much respect as they were formed fairly recently out of a shell and financials are almost absent as an OTC BB stock which a lot of U.S.Investors will not touch.
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