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Gold/Mining/Energy : mxp (mesa Inc)

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To: George Mc Geary who wrote (374)	6/30/1997 3:28:00 AM
From: George Mc Geary	of 394

MXP is trading at $5 5/8 X 11/16 a tight range, thanks to the NYSE going to 1/16 trading. It has come back nicely since it went below $5. PDP has been moving between $34 and $36 (round numbers) this last month. This might indicate that someone is buying and selling PDP on it's movement for short term profits. IMO PDP now at $35.75 (90% of MXP x 7 value) will not align itself much further to the 7 ratio of $39.75 until the merger is approved. Now, all we can hope is that MXP will hold where it is (or maybe move a little higher <g>) Good luck to all on this merger.

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