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Gold/Mining/Energy : Solv Ex (SOLVD)

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To: norwalk hawk who wrote (5083)	11/19/1997 9:09:00 PM
From: JJB	Read Replies (2) of 6735

Mike Main computer does not work using old 486 which I neglected to keep updated. No spell checker. Spent most of the day in ABQ at hearing quick update will try for better one in next day. I currently could be convinced to short SEG using SCSI baracuda drive. KOCH offer was approved by both Canadian & US court. Syncrude attempted to ask for exstension so they could cash bid. Turned down cold both courts. Deal is pretty close as stated before oil 78% Koch 12% Solv 10 UTS. Solv 75% minerals. Trustee indicated Kock intends to spend .5 - l billion to develop project on leases with solv technology. Only contingency is approval of lease exstension by Alberta. Since we have 650 Canadian creditors with 100% payout I don't think that is a problem, otherwise they could get nada. That is why Dec 22 is the finalization of this sale. Could be closed before that. Loose end will probably exstend bankruptcy till early 98. Debenture status is now the issue. For all you if Solv is so great why hasn't a major steppped in here is your answer. jjb again sorry for for form of post

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