IMMM ( I'm Mad Monk) Message Board

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Microcap & Penny Stocks : IMMM ( I'm Mad Monk)

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To: bob who wrote (1341)	7/7/1997 7:44:00 PM
From: Theo	of 1480

Bob, Thanks for making the loooooooooooong distance phone calls. You gave us more news than I thought possible. I was sure they would blow you off. I'm gonna take that "guys" advice and fax him{John Bates} a "note". From what I can gather from your conversation with First Sydney, it now seems that Patroclas is calling the shots. From the July 3 release, it states that: "North American Drilling Fund will retain a 40% working interest in all producing oil/gas wells. Patroclos Finanz AG will manage the drilling fund. Drilling costs will be shared 50/50 by the strategic partners." I assume this statement reads that Patro gets 40% of the take in a producing well and that patro and "strategic partners" [?UPR] split the cost of drilling the well 50/50. What does NAMX get out of this and who gets or splits the remaining 60%take of the producing well? I'm losing track of the players and the payoffs. It is clear, however, that if Patro is managing the drilling fund, then they would control the designation of the wells to be "tight" which they obviusly did. But to what advantage? To work out other possible land aquisitions? Nice going Bob. The very fact you were able to glean this much news from the source of NAMX's funding, I'm sure, has not gone unnoticed by NAMX. Quite possibly even prod them into comming forward with some more information. Theo

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