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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: Edward M. Zettlemoyer who wrote (7349)11/26/1997 7:38:00 AM
From: Marantz  Read Replies (4) of 9164
 
Edward M.,
While I had K. Dow from Arakis I.S. on the phone two weeks ago, I asked about the Oman concession which will be lost soon due to lack of commercial results. She wouldn't commit to a definite course of action. She felt that they might negotiate for a different concession rather than extend the agreement they have for the parcel they crapped out on.

I agree with what you said about end of year portfolio management affecting stock prices. In the case of our beloved Arakis, I'm afraid we're looking at tax selling. At under $3 per share, hardly anyone has a gain to lock in. Almost everyone has a loss they could use to reduce their tax liability.

Hey Zeev, my ancestors were kicked out of Spain too (among other countries.)

Marantz
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