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Gold/Mining/Energy : Jersey Petroleum -JPI (was Jersey Goldfields -JRG)

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To: David Reid who wrote (19)4/17/1997 1:17:00 PM
From: Bobby Yellin   of 100
 
I bought some shares today...It sounds like if we are patient the
stock will start climbing again when they announce acquisition of
new property...I spoke at length with Phil Oakes who was really patient and informative...He said they have 1 1/2 million dollars with 18,000,000 shares...with possibly 5,000,000 free float...5,000,000 is controled by Barry Ching and associates who have an investor's group off the Jersey Islands..
the company asked Peter Guest to retire or something like that because
his two other companies...Dunlop and Iriana Jaya(sp) may have taken
too much of his time...
If I understood it correctly, one million shares(that had been given as payment I am assuming) were dumped as a result of Jersey not continuing with the Educadorian project..
Hopefully all the bad news is behind the company, and hopefully the
BRE-X mess will be cleared up shortly and the juniors will rise again..
If the Director is respected...if they are hard working as I have been
told...if they have money in the bank...and find a potentially excellent property in Chile...hopefully the share price will appreciate..
I might have made some mistakes so please double check...
bobby
(I noticed the stock because I saw a nice block go into the stock
today)
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