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Gold/Mining/Energy : American International Petroleum Corp
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To: Cathi Wierzbicki who wrote (4226)10/28/1997 6:48:00 AM
From: qdog  Read Replies (2) of 11888
 
Potential reserves, I know a company that paid 40 million for the right to drill a block with potential reserves of 1 billion. Doesn't sound like .50? They also didn't make a significant find either.

IF this .50 is such a holy grail, how is it AIPN and it's partners got this block cheap? It was peg at 550 million potential originally, before Huddleston's assessment. Right now, with markets decline and the resulting loss of wealth, it could make things less attractive.
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