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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: scott bolio who wrote (6719)7/28/1997 8:29:00 PM
From: philip   of 9164
 
A curious release.

Regarding Mr.Khan, I think we shall just have to await the democratic process to see just how much support Mr.Khan has. I suspect it will be substantial, as Razorbak has intimated, and I hope Sands will be just as vociferous in their support, if indeed this is the case.

Regarding the loan reference, these loans were secured, and to my mind not unreasonable under the circumstances. Perhaps Sands has never undertaken such loans...or have they? It is not an uncommon occurrence, after-all. Perhaps they will issue another release to clarify this point.

My understanding is that Arakis is continually evaluating expenses and efficiencies, particularly since Mr.Khan has taken over. So I would think this will continue to be a priority of the new board. I am not sure just what Sands has in mind, but perhaps they will clarify this. However, I am not sure what they are doing bringing this up in a release. They will have a boardroom seat, where any good ideas would get a thorough airing.

Perhaps the most curious part of the release concerns the suggestion that Arakis concentrate its efforts in the drilling project. Is it just me, or is that not precisely what they have been doing? What drilling has Sands done lately in the Sudan?

A curious report indeed!
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