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Gold/Mining/Energy : SPPTY: Southern Pacific Petroleum ADR
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To: Loren S. who wrote (17)6/5/1997 4:07:00 PM
From: Patsy Collins   of 18
 
Bought 1500 at 7 today. I've heard that they have received bank financing and that their estimates were for 8 cents per barrel, as oppose to the market rate of 1.00. This is probably due to the high risk attributed to the possibility of no oil finds.

Oh well, this is an 'option' play for me, either SPPTY will become the next OIL or my $10,000 becomes $0.

I'd say the risk/reward is not bad. OIL went from 0.05 to 40.00
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