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Gold/Mining/Energy : mxp (mesa Inc)

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To: Bryan Arnold who wrote (320)	4/30/1997 2:29:00 PM
From: George Mc Geary	of 394

Bryan and all MXP $5 X 1/8. As I stated before the MXP could be sold and the proceeds invested in PDP before the merger. If all goes well there may be a little extra gain that could be realized, not guaranteed ! PDP is now 32 3/8 X 5/8. If all goes well I think that it will all work out in the long run. If for any chance the merger might not go through PDP's price will drop and MXP's price will go up. Since I am holding calls on PDP, I figure I have any difference well covered on a huge leverage factor. Just worked up and the recent move of MXP from $4.375 to $5.00 versus the PDP move from $30.50 to $32.50 gained me 2.177 times more than if I had owned the same dollar amount of PDP. Of course I would also had to have paid commission in and out (didn't figure that into the numbers).

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