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Gold/Mining/Energy : Anadime (C.AEM)

AEM 171.84

+0.3%

3:59 PM EST

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To: Nexus who wrote (36)	7/29/1997 11:36:00 AM
From: Richard Saunders	of 54

Alain/ thanks for posting. I just found another co. with AEM's pres. sitting as Chairman of the Board. It's an oil/mostly gas startup - started trading on July 3 as an IPO. Gold Butee-gbi. IPO was at $0.20 - supposedly 7.5mil shares o/s with 6.0mil. of them in escrow to be release in 1/3s over the next 3 anniversaries (jr. cap. pool program). Owne Pinnell is the Chairman of the Board - the pres. of gbi is the recently "displaced (by the board - ie. politics)" Chief Operating Officer of ELAN (ELN-tse) and was with them from 5,000 boepd to 35,000boepd. I've established a position - current production is approx. 95 boepd (75% sweet gas) and exit hopes for '97 are 500 boepd. As indicated, I'm biased but does look interesting.

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