American Resources of Deleware (GASS) Message Board

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Gold/Mining/Energy : American Resources of Deleware (GASS)

GASS 7.730

-1.3%

Jan 30 3:59 PM EST

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To: tony mendoza who wrote (88)	5/29/1997 10:22:00 PM
From: Ed Ajootian	of 172

Tony, I have not been following GASS so closely in the last couple of weeks since I dumped virtually my whole position. It sure is heartening to see it finally come back though. Wish I had more patience with this one. I looked at the proxy statement on Edgar and couldn't find anything earth shaking in it either. I wonder whether there was some potential operational problem that had caused the stock to tank earlier and maybe now that problem has been dealt with successfully. You've got to understand that when a company is laden with as much debt as GASS is its stockholders get awfull jittery and many will not hesitate to dump the stock on even the slightest hint of an operational or production problem. This is because there is little room for error. If their reserves were to get revised downward, say, this would cause their borrowing base to be decreased and the bank could then call the loan. But never mind my paranoia. Just sit back and watch this baby continue to come roaring back! Congrats on a great call _and for having the guts to hang in there until you got proven right. It may be a good idea to take some profits once this rally tops out though.

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