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Gold/Mining/Energy : MCGR-McGowen Resources

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To: Bobby Yellin who wrote (1)	10/31/1997 1:58:00 PM
From: Bobby Yellin	Read Replies (1) of 14

received a call back from Mr.McGowen..asked him many questions but double check what I post Mr. McGowen has 24 years in the industry and worked for the Hunt's for 11 years..he founded this company in the early 90's.. about fifty eight percent is insider held..the preferred shares.. the company has major credit lines from two banks and another source of funds from private corps for nonrecourse loans.. MCGR is looking to acquire more properties they keep on moving up on the list that the Oil and Gas journal puts out. I asked Mr. McGowen if one could pay to get on the list..he said there was no way.. Mr.McGowen was also President of American Association of Professional Landsmen which is an organization in US and Canada with over 8000 members..wonder if anybody out there is familiar with it.. anyways..there are about seven people working for the company and consultants are hired when needed. He explained he is able to buy properties and producing wells near their other wells which are in Texas and Oklahoma.. that are close to his other properties and make it cheaper for McGowern to operate than for another company that may own only one well in the area...thus making it cost effective... I was told thatMCGR currently is a 15C211 (sp) company and thus saves the corporation a lot of money by not having to file with the sec. the risk reward sounds pretty good..

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