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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)
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To: bob who wrote (1208)6/30/1997 12:19:00 PM
From: alchemy   of 1480
 
Hello Bob: I spoke with Paul Ebeling last Friday and l learned little that was definitive. I did learn that the "tight wells" will probably remain as such for a while. Also, that the 50 well exploration project is still very real and is funded as stated in their last release. We should expect news on that front sometime in Sept. As for my request for much needed info. on agreements and such, I was stonewalled. He did not have to release a copy of the agreement between Patroclos and NAE. Such information would be released when the company deems it important.

Oh well. My gut reaction is that NAE is still going through the reorganization phase. Ebeling is the glue holding it together at this time. He has his hands full. It would not surprise me if we just move sideways for the next two months while NAE focuses on getting its house in order and finding oil for Patroclos and UPR.

Without better information, I am considering this a hold for the next two months. I am not adding to my holdings without more definitive information from the company. (By definitive, I mean information contained in press releases; telephone conversations are simply hearsay.) I consider this stock very risky and only for those who are extremely speculative.

marty
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