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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Marantz who wrote (5474)5/7/1997 5:56:00 PM
From: M.Hicks   of 9164
 
Is there any published information about what all these terms mean? I know what a drilling rig is, but what does "once hosted hydrocarbons over a large gross interval" mean? Having read all that, how much, if any, oil is or is not there?

Also, remember us talking about Arakis being one of those Canadian "dog stocks". Check out this report from the Motley Fool:

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Bre-X began unraveling on March 19th when the company's top geologist allegedly jumped to his death from a helicopter while en route to a meeting with Freeport officials. The suicide note left by Michael de Guzman caused shareholders to panic. A week later Freeport determined that its preliminary tests found "insignificant" amounts of gold at Busang, causing the Bre-X share price to collapse. Although initially a variety of conspiracy theories began to make the rounds on the Internet, too many investors recognized a classic Canadian natural resources fraud in the making. Reminiscent of ARAKIS ENERGY'S (Nasdaq: AKSEF) collapse after talks of financing by a Saudi prince of dubious heritage dried up in 1996, Bre-X has now returned to the pennies from whence it came. For its part, Freeport-McMoran Copper & Gold has fallen from its high of $35 after the deal was announced to $31 today.

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There you have it....GUILTY BY ASSOCIATION!

Mike
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