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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Zeev Hed who wrote (5761)5/26/1997 5:03:00 PM
From: richard hawkins   of 9164
 
Zeev: I'm not sure if there is a lot of overhead supply at 4. Sands took out a lot of that and it is unlikely they will be sellers in the 4-5 range. The buyers from last fall who bid the stock up on speculation over the JV partnership could be washed out by now. With an average daily volume near 400,000 and nearly 120 trading days since the Dec 6 climax, it is likely that close to 50 million of the shares have changed hands. You seem to have more optimism about the Oman prospect than others. Could you elaborate on your valuation of this? I have up until recently just viewed it as icing on the "Sudan" cake.
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