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Gold/Mining/Energy : American International Petroleum Corp
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To: Razorbak who wrote (236)7/14/1997 2:11:00 PM
From: faris bouhafa   of 11888
 
Thanks for the release, Razor. Here's what I have been able to learn. The independant testing outfit is called Huddleston. I've been told that they are respected in the industry, used by all the majors and are considered conservative. Reportedly, they routinely asses at 15% of their testing results to be on the safe side. That would mean that the 1.1 billion barrel figure could represent only 15% of what is actually there. I have also been told by a broker at a major firm who has been following this company for 4 years and knows all the players that AIPN's cut per barrel will be somewhere around $3-$4/barrel once they sign with a partner. Speaking of partners, I was told today that every major is approaching them with various arrangements. Seemingly in the driver's seat with the confirmed license, the company is listening to all of them but making no commitments. They will negotiate the best deal. Now, here is something I found particularly interesting.
There's been a lot of speculation about the oil that might be in the 40% of the territory not yet tested. Well, it seems that the government of Kazakstan did its own testing in that area awhile back. They experienced something called a "blow-out" when they did a test drilling. Not being an expert on this industry, I asked what a "blow-out" was and was told that it was an indication of serious reserves. Anybody with more expertise have any comments on that?
Finally, I am being told that current discoveries, assuming that they pan out, would provide AIPN with a $26/share asset value. Any comments on that?

Cheers...Faris
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