American International Petroleum Corp Message Board

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Gold/Mining/Energy : American International Petroleum Corp

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To: Thu Ra Tin who wrote (708)	7/25/1997 7:54:00 PM
From: Taylor Mill	of 11888

>>The only analyst known to cover the stock is Keith Bossey of Long Island based Robert M. Cohen & Co., which put out a "speculative buy" on the stock July 23.<< What's wrong with this picture???? I suggest that the "only known analyst" knows not what he is talking about and anybody who has seen his comments should rethink whether they are meazningful. (1) Why does this "analyst" not even know as of July 23 enough about the company to realize they have no South American operations. Don't you think a knowledgable analyst would have at least read the 10K and 10Q reports and know a little more about the company? (2) What does he mean that 770 million barrels are "already "discounted" potential reserves figures"? I've never quite heard of such a thing ---- one discounts the likelihood of these reserves existing by placing a risked % on them. (3) Why does he not realize that 770 million barrels x .50/bbl divided by 37 million shares = $10 is NOT a reasonable valuation. He forgets to further factor in govt share, further share dilution, and ownership dilution via likely partner arrangements. Any knowledgable analyst would not make such blatant errors in a Valuation determination. In other words, I suggest to you that this "analyst" does not know what he is talking about. Read for yourself. >> GREAT NECK, N.Y., July 23 /PRNewswire/ -- Robert M. Cohen & Company initiated coverage of American International Petroleum Corporation (NASDAQ:AIPN) with a speculative buy recommendation and set a 12-month price target of $10 per share. Robert M. Cohen analyst Keith R. Bossey said, "Obviously we are not basing our recommendation on American International's refining business but rather on the significant prospects of its operations in the former Soviet Republic of Kazakstan. The area is presently surrounded by operations of several major oil companies including Exxon and Amoco, and most importantly is just 125 miles from the giant Tengiz oil field, which is estimated to contain 10 billion barrels of oil." American International Petroleum Corp. explores and produces oil and natural gas in South America. The Company also has refining activities in Louisiana. 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, 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. SOURCE Robert M. Cohen & Company<<

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