American Resources of Deleware (GASS) Message Board

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Gold/Mining/Energy : American Resources of Deleware (GASS)

GASS 7.670

+4.2%

3:59 PM EST

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To: Jeff Lee who wrote (119)	9/20/1997 5:49:00 PM
From: oilstks	of 172

Jeff The discussion was far reaching and quite frank which was refreshing .....considering the restrictions on what they are allowed to say....so anything I say here will be my interpetation of what he said ...I do not want to say anything that might cause him any problems with the usual disclosure rules......enough of the caveats .... My main concern was and still is "how could a stock go down hill so far for so long " ? Answer.... They have hired Bear Sterns to advise them on this and they received many suggestions (some of which they are working on ) They were given a two year window to turn around company....The marketing operation was valued at zero by Bear Sterns ,so they basically discontinued this except for their own production .... He (CFO) stated that they are geared up to be a much larger company...they have in place now very strong people in all key posions . This larger payroll is unsustainable as a small company with such a small sales volume (draw your own conclusions from this statement) Question : Why did the stock buy back not help the stock price ? Answer : They redirected that money into a more productive use ...they used the money to retire a Debenture...(they should have more widely disseminated this info) Den Norsk(Their main banker ) has taken an equity position in Gass (they would not have done this if they did not see some very good prospects on the horizon) My main reason for adding to my holdings was my impression of Ralph Currie (recently a partner at Peat Marwick now CFO at GASS) With my 30 years of investment experience you sometimes make decisions the old fashion way ...ie you are impressed with the integrity and capabilities of someone close to the company ...lets say its my early warning radar ,not very scientific but it works for me.... I hope this helps but I can't guaranty anything other than my humble opinion .... TOM

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