UNOCAL: HUGE UPSIDE, LOW RISK Message Board

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Gold/Mining/Energy : UNOCAL: HUGE UPSIDE, LOW RISK

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To: Sunnie who wrote (6)	10/15/1997 8:05:00 AM
From: Wade Bennett	of 10

Sunnie: This will have to be a short message - in a hurry! I believe that the options play is still a good one, but do the math on the past due royalties alone (1.2 billion gallons whereby Unocal says the patent entitles them to $.05 to $.07 per gallon, and the opposition says it's more like $.02). There will be more conservative investors who do not jump in until the damage verdict is back and the judge has ruled on all other legal issues at hand. Also, give yourself some time on the options, i.e., don't buy October calls. Although the short term contracts will no doubt rise with the stock, I think this story will need a little time to spread. Watch the common this morning, the options start trading ten minutes after the common opens. If you think this portion of the verdict means that the jury is going to be generous to Unocal on the damages side, go long. If your nervous, hold back. I still say this stock has very limited downside right now. Wade

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