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Gold/Mining/Energy : American International Petroleum Corp

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To: Thu Ra Tin who wrote (852)	7/29/1997 12:27:00 PM
From: Thu Ra Tin	of 11888

Subj: AIPN Meeting cont. Date: 97-07-29 11:51:43 EDT From: LMPITTS -The debentures/shares that AIPN pulled/bought from diluting the market equaled 6 million ...not a company looking to dilute their stock. -AIPN has 27million in assets (obviously not including potential oil)..and 3.2mil in debt -The annoucement apparently coming and annouced at the meeting was that Venezuela which has a national oil concern will be the major supplier of crude oil to AIPN refinery to produce asphalt. -Our Faris Bouhafa "thinks" that the 7 million warrants equally $27mil will be called by the company before their March 98 deadline...remember they equal... 1 warrant +$4.oo=one share of stock and are callable if stock maintains $8. price for 30 days..this is our Faris's thought no statement by the company.. (meeting cont...) Subj: AIPN Meeting cont. Date: 97-07-29 12:26:10 EDT From: LMPITTS Info from Faris Bouhafa attending meeting... -Now in regards to the joint venture which contains MSUP 70%AIPN 5% Med 10% Dank 15%Entre Dynamics -The Honorary Chairman of the MSUP is none other than the brother to the President of Karastan.... -The CEO of Dank is a geologist..of 17ish years and (appears to our Faris B.) to be the geologist mentioned in the Platt article as the anonymous geologist who has had an inside veiw of the oil on the site.. AIPN... -AIPN will be appointing to new members to the AIPN board from Karastan... -AIPN received a offer for partnership from a LARGE Mulit-National company but turned it down because it oil drilling was not the major focus of that company...(my guess ..(LM) is that it was DD Dupont because of its CONOCO concern...) Meeting cont..

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