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Gold/Mining/Energy : coastal caribbean (cco@)
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To: Henry Volquardsen who wrote (1994)11/3/2000 10:37:59 AM
From: will3  Read Replies (1) of 4686
 
Henry,

Well, I have re-written this response to you about 10 times now. Respectfully, I disagree with you completely. Although you may think I am a fool (by the tone of your message) I see no problem with CCO stating what they think the leases are worth. Did you think I expect CCO to come up with this dollar amount off the top of their heads? Come on now! CCO should get some experts to judge what the lease(s) are worth and go to the State and say: "we think the leases are worth X". That dollar amount SHOULD be based on facts. Thus, the shareholders should not be upset nor could they sue. CCO is going to have to do this at some point, correct? Why not now? It would give us shareholders some idea as to what return we can expect on our investments. Do you like being kept in the dark? I do not!

I think it would be MUCH worse for the company if they settled for some dollar amount through hush-hush negotiations with the State without getting a FAIR appraisal of what the leases are worth. My main worry is that one day we will wake up and see an article that states: "CCO and the state have struck a deal concerning CCO's offshore oil leases" and that the dollar amount is paltry.

Anyway, I doubt that my wish will be granted. I am guessing that a deal will be struck before any formal appraisal is ever made, and I think THAT would the crime!

Will
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