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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Jim Lamb who wrote (7343)11/26/1997 3:54:00 AM
From: Edward M. Zettlemoyer  Read Replies (2) of 9164
 
Jim, <Surely the announcement will help this stock.> I think sometime today the price will dip down to 2.875 and Zeev will place an order which will account for the high volume.<VBG>. Seriously, as I'm sure you noticed the 2.875 range has historically triggered some buying activety. As far as the announcement, I agree it should spark some interest and give the Consortium some creditability to go the distance with the project. However, although this may give us a little spike it may be meet with a negative factor in the market timing. Investors from the institutional community will want to sell to lock in profits for 4th Qtr and end of year. IMO I don't think we'll see any real momentum until late Dec or early Jan when the construction contract is finalized and the Institutional Investors take their positions for 1998. If drilling operations have materialized as planned, one of the four drilling rigs is a deep driller which could tap into a gusher as the bulk of the oil is down deep. With that in mind I think AKSEF will become less speculative and investors will soon start holding for the long haul, the time frame is getting shorter and shorter. Just my 2 29/32 Cents.

If anyone is calling Calgary you might want to ask for an update on the Oman project and any plans for getting listed on the TSE. TIA. Ed
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