Scimitar Hydrocarbons, SIY:ASE Message Board

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Gold/Mining/Energy : Scimitar Hydrocarbons, SIY:ASE

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To: eric deaver who wrote (847)	8/28/2000 6:02:58 PM
From: William Nicholson	Read Replies (1) of 864

In addition to e-mailing Scimitar I also spoke to the Comptroller about two concerns I had with the statements. The first concern was operating expenses of 6.70 per barrel of oil vs 4.84 in the 1stQ. He advised me this increase was the result of operations problems incurred in the quarter and hopefully are now behind us. The 2nd concern was the increase of general & administrative expenses from $212,000 to 1,099,714 which in part was the result of bonuses paid to management although he did not give me the amount the bonuses were. If I receive any additional info in the reply to my e-mail I will post. On a more positive note the company billed GPC over a million in sales revenue in July. The thermal recovery program is commencing the 1st week in September and a 6 well drilling program is to begin in November. I am long and holding as I believe this company has great potential.

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