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Gold/Mining/Energy : American International Petroleum Corp
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To: Cathi Wierzbicki who wrote (4042)10/24/1997 11:15:00 PM
From: Laserbones  Read Replies (1) of 11888
 
It's interesting to take a look at the current reserves for the large oil cos. They sure do seem to have alot of oil, and there's millions of acres pumping every day. Of course all unrecovered reserves are finite, and there will come a day when the last barrel of oil hits the cracking tower, but I have yet to see-read-hear any good argument for why these oil companies are in such a rush to sign with aipn. Investors in aipn (us) want this to happen soon, and nearly all arguments are biased now.

If aipn's license is truly worth these huge numbers on potential reserves please tell me why this company was able to secure this concession for absolute peanuts. This has been brought up before on this thread and never answered. I don't buy it that aipn was just walkin' along the road and accidently discovered the 100 pound gold nugget. There is literally a ring of producing fields surrounding aipn's holding. Those cos might have guessed wrong with the lesser reserves, but then again they might have been right.

There also has not been any solid arguments that support an immediate JV. No, I do not think there will be any significant JV until there is a much better handle on what may or may not be sitting under the ground. And during this quiet period this co needs to vastly improve its cash position.

I stand by a minimum of 2 to 3 months before any JV is announced.

And if it happens sooner you can all laugh at what a knuckle head I am. (-:-)

Greg
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