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

AEM 171.84

+0.3%

3:59 PM EST

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To: The Vet who wrote (45)	10/20/1997 3:16:00 PM
From: Richard Saunders	of 54

The Vet/ disclosure: self-interest, have a position. Mentioned before back in the thread but another startup with some of the Anadime people positioned early is Gold Butte (GBI-ase) . Major trans. will be voted on Oct. 29 and name will be changing to BelAir Energy. Early initial investors include some of Anadime's board of directors (Jacob Halldorson, James Coleman and Gedd Cantwell) Owen Pinnell (AEM pres.) is GBI's Chairman of Board of Directors. Major trans. will meld in a private co. held by 3 insiders (pres. ex-chief op. officer from ELAN, 2 ex-Equis guys (takeover by Magin) and should result in approx. 95 boepd production from 3 Alta. properties. Exit rate target for '97 is 500 boped. There will be 7.5 mil. shares o/s with I think another 0.9mil options ($0.20 & $0.36). The Oct. 29 mtg. will also be seeking approval to do private placement for up to 7.5mil shares. I believe insiders/directors/officers will hold approx. 42% of co. McDermid St. Lawrence did the IPO in July (1.5mil shares at $0.20) and I believe they still have some (150K) $0.20 broker warrants. Might be worth a watch? I have a position.

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