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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: jim_p who wrote (22808)	5/21/2003 6:29:51 AM
From: Ed Ajootian	Read Replies (1) of 206092

Jim, Thanks, I don't think folks are valuing this on the financial numbers at this point. Their oil & gas activities are just noise. These hype artists got that guy Michael Smith to cut 'em a check for $5 M and agree to carry them for the next $9 M of construction costs for the Freeport terminal. I have no way of telling whether he's just a rich sucker or a budding LNG superstar. It would seem that if they are successful in getting FERC approval of their terminal the stock would go up significantly (the Freeport terminal would have capacity to deliver 1.5 BCF of gas a day and Cheniere has retained a 30% interest). They just filed the application in March so although I'm no expert in these matters it would seem that it is still many months before this application would be acted upon by FERC. In the meantime they will probably issue more stock on the hyped stock price. This is how the biotechs have been doing it for the last 15 years. So until the FERC action, it may be a helluva hype play. Then as it gets closer to action time, from what you say it sounds like it would be an interesting short, if they haven't raised much more cash by that point.

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