Zeev: This little tidbit from fed filings may answer your question. Anything to do with the Great Sandworms sudden departure?
11/04 Sands Mulling Add'l Ways To Enhance Arakis Value
FORM TYPE: 13D Amend #3
ISSUER: ARAKIS ENERGY CORP.
SYMBOL: AKSEF
FILER: Sands Petroleum AB et al
Contact: Charles B. Crowell (214) 696-3200
CLASS: COMMON
SHARES OWNED: 8,624,800 9.8%
TRANS: PURCHASED 10/09/97-10/29/97 1,069,000 $3.27-$3.73
NARRATIVE DESCRIPTION:
WASHINGTON (FFBN) -- Sands Petroleum AB will continue to
consider other courses of action to enhance Arakis Energy Corp. shareholder value including, among other things, seeking additional representation on Arakis board of directors, contacting other large
Arakis shareholders to determine their concerns and ideas and proposing candidates for management positions. Sands has not formulated, as of yet, any specific extraordinary plans.
Sands purchases of Arakis common shares were effected on NASDAQ
and includes block purchases of 200,000 at $3.27 on Oct. 9; 300,000 at
$3.47 on Oct. 10; 100,000 at $3.65 on Oct. 17.
Additionally, as reported, Sands designee Charles B. Crowell
was nominated to the Arakis board of directors on July 30.
I suppose the good news is that someone is buying Arakis shares <BG>. I have my GTC buy at 2 7/8, perhaps I will see you there? (I suppose I could just wait until after the merger between IRPPF and Sands, but I don't like the price they paid for the shares <BG>).
Alex |
