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Gold/Mining/Energy : Fortune Petroleum (FPX)

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To: Bob (Hijacked) who wrote (31)	5/21/1997 6:34:00 AM
From: Ronald J. Clark	of 275

In most states the legal limit on production volumes applies separately to each producing horizon. Thus if the company can complete a well in two different horizons they could legally produce up to 3,000 bbl.day (1,500 bbl/day is the legal limit for the subject horizons as I understand it). John Collins tells me that FPX has a net revenue interest (N.R.I.) in the Bayou Sorrell area of approximately 10%. If the new well could produce at 3,000 bbl/day and oil sold at $20/bbl FPX's revenue would be $180,000/month. John also indicated there may be some news in the near future regarding the Zydeco prospects. If you remember, the Zydeco prospects were the original "hook" attracting investors to this stock. (Take a look at the offering prospectus from a couple years ago.) These prospects, including East Thunder and Mentor, have huge potential and could truly bring some much needed life to this stock. Best of luck to all. Ron Clark

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