ARAKIS: HIGH RISK OIL PLAY (AKSEF) Message Board

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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)

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To: Razorbak who wrote (6040)	6/9/1997 5:25:00 PM
From: richard hawkins	of 9164

I talked with Kristine Dow today. She said the record date for proxies to vote at July 30 shareholders' meeting is June 25. This means that June 20 will be the last trade date for which buyers will be holders of record for proxies. So we have the rest of this week and all of next week for the big buyers to get their shopping done. The action today was fairly encouraging especially last hour and 1/2 with pickup in volume and price. Kristine told me the Wadi Saylah (Oman) was actually spudded on May 2 (rather than Apr 25 due to rain delay) with 45 days estimated to target depth. They are just now entering the Natih formation (9400') which is the primary target payzone for this well. Regarding the Ian Lundin reserve estimate of 600-800 million bbo in Sudan, she said they have decided not to affirm or deny since the statement was not made by AKSEF. Personally, I think Lundin knows what he's talking about. Stunning decline in ABACF today. Any followers of this AKSEF/HEC lookalike? I'm real tempted to jump in.

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