Gemini Energy GNI.V previously named Arrowhead. AOW.V Message Board

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Gold/Mining/Energy : Gemini Energy GNI.V previously named Arrowhead. AOW.V

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To: LowtherAcademy who wrote (10)	3/19/2000 2:35:00 PM
From: LowtherAcademy	Read Replies (2) of 26

Well, folks it is my sad situation to relay the following news. This past week GNI., UP., Pannonian Partners and Allan Laird representing the shareholders derivative action suit, met in binding arbitration with a mediator. When all was said and done, everyone agreed to walk away, pay their own legal bills, and the only miniscule fine was levied against UP for $25,000. So, there you go. Pannonian offered to buy GNI with a generous offer and it was flatly rejected. From a strickly investment stand point, I would have to think that since GNI was totally against a sale of the company, for a considerable profit for all their private placements at .20, that they must have plans for a major pump action sometime in the future. I can't imagine how they'll figure out how to finance any new wells, but I'm sure it won't be a problem with their contacts. Too bad for the small investor, too bad for the exchange-- just one more example of the good ole' boys bringing the lambs to slaughter. Lew

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