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Gold/Mining/Energy : American International Petroleum Corp

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To: Geneat who wrote (599)	7/23/1997 10:56:00 AM
From: faris bouhafa	of 11888

Subj: Re:SOMETHING CAME!!! Date: 97-07-23 10:48:51 EDT From: Bouhafa Here is one possible reason for the gap up this morning. I just got this press release: "Robert M. Cohen Initiates Coverage of American International Petroleum; Analyst Issues A Speculative Buy and $10 Price Target". The release goes on to say that "potential reserves are typically valued at $0.50 to $1.00 per barrel. By taking the Company's 70% share of the already discounted potential reserve figures for the Kazakstan find, analyst Keith Bossey arrives at a figure of 770 million barrels. ' In using the more conservative $0.50 figure, we come up with an approximate $10 share value of the Kazakstan find' Bossey concluded. The analyst can be reached for further information at Robert M. Cohen and Company (516) 829-7910. Well, it ain't Merrill Lynch but it is the first third party endorsement of the significance of the Kazakstan seismic results. Note that Bossey appears to be favoring a conservative valuation and is not referring to what may lie beneath the 40% of the License Area that has yet to be evaluated. Cheers...Faris PS I'll answer Qdog and Kenneth later

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