American International Petroleum Corp Message Board

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Gold/Mining/Energy : American International Petroleum Corp

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To: faris bouhafa who wrote (657)	7/24/1997 12:48:00 PM
From: qdog	of 11888

Now that you have it hand, I notice you missed the point that I have caution about as an "expert" on page three. "The exploration license expires in five years. During that time, AIPN must determine which structures it intends to commericalize up to a maximuim of 10% of the entire area. Following this, the remainder of the concession area will be up for public bid (the company can enter the process)" What that means, they only have 470000 acres per this agreement. Now normally in most PSA, there is a giveback after the initial E&P is done. 90% sounds and is very high. Depending on the other 40% still under evaluation, they have to narrow there initial choice to ensure they indentify the best of the prospects. This is also based on government siesmic and not their own siesmic program. I think that Monday you need to have that clarified.

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