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Gold/Mining/Energy : Transglobe Energy Cp

TGA 3.720

0.0%

Oct 14 5:00 PM EST

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To: SCRIBEALIVE who wrote (218)	11/14/1997 11:26:00 AM
From: Alan Brezin	Read Replies (1) of 2826

John and all, Dr. Laycraft is not important in the affairs of Transglobe Energy anymore. It is a new company with management which is 180 degrees from the ones it replaced. Unfortunately it still carries the stigma of its previous management. Fortunately this creates a buying opportunity for the patient investor but not the quick buck trader as the stock is relatively illiquid and it will be 4-6 months, minimum, until the PSA for the S-1 block in Yemen is ratified by their parliment. Only then will Ross Clarkson announce a venture partner(s). That event should move the stock but there are no guarantees. It will take more time to do additional seismic and other geological studies and to bring in initial drilling supplies. We are talking about another two years before there is production most likely. This is the normal course of events in a venture of this kind. Again patience and perseverance are fundemental requirements for this type of INVESTMENT, not trade. Ross Clarkson is not going to hype the stock in the meantime as others have done in the past. He took the company away from the VSE to the ASE and TSE to restore the company's credibility and dignity and to create more liquidity. In the meantime, the company and its partners will continue to develop the Montana oil properties. This company's stock is a good investment for the patient value conscious investor who desires a favorable reward to risk ratio. The investment at $1.00 is not too onerous and it could go to $.50 if they encounter a dry hole somewhere which is bound to happen. No oil explorer ever hit 100% of the time but they have a high ratio of success in Montana. Hopefully they will drill some larger producers like is possible from the Tyler in between drilling the dependable Red Rivers and this could give the stock a lift. I repeat this is not the same company and management that you suffered with in the past. This is a new day for this company and you have very conservative, experienced, competent oil men managing it now! Good investing, Alan Brezin

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