TYK (VSE) Tanganyika Oil Message Board

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Gold/Mining/Energy : TYK (VSE) Tanganyika Oil

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To: andec who wrote (273)	4/9/2000 3:28:00 PM
From: Donald Lickman	Read Replies (1) of 500

About 5 years ago Lundin's started a company called Red Sea Oil they drilled numerous "dry" exploration wells in Libya while the stockholders supported them through thick, thin and ugly. Then finally they hit big oil, established a reserve around 100 million barrels plus about 2 million unexplored prime offsetting acres. Then Lundin Oil announces a take-over bid for $2.17 per RSO share payable with depressed Lundin Oil shares and the "independent" review committee who recommend shareholders accept on the RSO side comprises Adolf Lundin's close associates under the shield of professional titles. You figure it out. RSO has 40% of 100 million barrels plus huge upside in the offsetting acreage and we're getting $2.17 per share in paper. We're getting a royal screwing. Now what's stopping them to try and steal TYK now that they found oil? That's why the market doesn't care about TYK because investors figure it will be a replay of the RSO situation. I was personally a big supporter of Lundin companies but I'm trading out of them all. I'll be surprised if there won't be a class action over this.

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