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Gold/Mining/Energy : Canadian Partners in Project Ekho
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To: Bearcatbob who wrote (280)10/17/2000 10:59:38 AM
From: SAM-DAN  Read Replies (1) of 311
 
Following was posted by Sam-Dan Group on the Tril Thread today
"While we take no pleasure in reminding readers of this thread that we had warned people not to invest in any of the Canadian Venture Companies in which Patterson played a role [namely ASV] and to reduce exposure to all the Canadian Partners because of Patterson's role in their involvement ,we did[in full disclosure] fail to catch the change in leadership in LVD which saw destruction of that stock's price.
Of course the whole play has stumbled with their inability[so far] to have a producing economic well from EKHO 1.
We understand another data test will be performed in the very near future[week or two] but indications are a major frac will be required which will mean another cash call to the Canadian venture partners. This will see a further delay in our hoped for production from EKHO 1,but believe this major frac WILL be performed before year end.
We remain positive regarding the success of EKHO 1 and certainly in the success of Tri Valley as Sunrise is probably ready to spud next month.
Our take is that BKR[via Ivanhoe funding] probably ASV and perhaps CUV will remain by maintaining their interest in EKHO1 through the next cash call[estimated at 1.4 million] but have doubts that CVL will fund and have done no DD on the smaller Canadian partners. Any available interest in the well will probably be picked up by BKR and perhaps ASV.If not we believe the original interest partners will increase their position by funding any shortfall.
The recovery program was always our main concern and still is, but we continue to hold great hope that Mr. Kandle will be successfull.
Please do your own DD.Current price of TRIL seems to us to be a buying opportunity although short term weskness on the announcement of the cash call may keep it at these levels until activity picks up on the site.
Good luck to all."
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