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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: Len Hynes who wrote (7063)	1/27/2000 2:07:00 PM
From: HAZ	Read Replies (1) of 24925

POTENTIAL TAKEOVER OF ALTAQUEST ENERGY AQF/TSE Courage Energy attempted a takeover in the fall and 2 directors of AQF and major shareholders rejected the price. After 3 attempts Courage gave up on the takeover. The price of the takeover for AQF was cash and shares and it worked out to approx. 1.25. After the failed attempt AQF stock price slid to 0.30 from a high of 1.40. I couldn't believe that Courage which I consider a conservative Junior O&G company would have overpaid AQF shareholders that much, so I bought into AQF at 0.30, on the bet that there is some hidden assets and value in AQF. I was getting nervous for the last month, as the stock slid below .30 but over the last couple of days volume has picked and so has the offer price. Do you follow this one, have you heard anything? and there may still be time to get in if you suspect Courage will attempt a friendly takeover this time. I forgot to mention that the CEO and decedent shareholder has resigned as CEO and they brought in another guy as interim. AQF has also hired engineers to come up with an updated reserve report and it is due soon, last this week or early next week. The company is searching for ways to increase shareholder value, or in other words a friendly takeover. Maybe Courage will try one last time and since their stock is hovering around 3.00 they could easily offer cash and stock. We will know as soon as the engineering report is completed and released, which I hope is soon. As I mentioned I own shares in AQF and I may be seeing things throught rose colored glasses. Any information is appreciated. Good INvesting

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