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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Zeev Hed who wrote (5765)5/26/1997 6:51:00 PM
From: richard hawkins   of 9164
 
Zeev: I assume these are potential reserves that they hope to prove up through the drilling of the Wadi Saylah No. 1 (spudded 4/25/97) and future efforts on the block; but this is music to my ears (and other JUL 5 call holders) because results on this effort could be in before the 7/18 expiration and could be the catalyst for a rally. Maybe the reason Ian Lundin objected to this peripheral activity at the most recent conference call is because they don't want AKSEF to have any alternate source of funds going forward.
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