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Gold/Mining/Energy : International Rochester Energy Corp. (V. ROH)
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To: Ed Ajootian who wrote (176)5/11/1997 12:42:00 PM
From: R F B, Jr.   of 188
 
Ed :

No back-in would give ROR 800 bopd. 60 mbo less 20% = 48 mbo. HEC 24 mbo; ROR 12 mbo, PKC 12 mbo. This is best case scenario.

With back-in, considerably less for all parties except Ecopetrol. The uncertainty is what is holding the stock prices back at this time IMO.

RFB
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