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Gold/Mining/Energy : Orbit Oil and Gas (t.orb)
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To: Serge Collins who wrote (126)11/27/1997 11:31:00 AM
From: dennis naughler  Read Replies (2) of 171
 
The company also agrees its worth $2+/share.Heres some more news today.

Orbit Oil & Gas Ltd -

Post says chairman rattles saber

Orbit Oil & Gas Ltd
ORBShares issued 428008041997-11-26 close $1.29
Thursday Nov 27 1997
The Financial Post reports in its Thursday edition
that Orbit Oil & Gas chairman Bob Lamond warns that whoever is behind a possible hostile bid for his company should be prepared to pay well.
Reporter Claudia Cattaneo notes that Mr Lamond says that a purchase this week of 2.6 million Orbit shares appears to confirm recent rumours that the junior company is a takeover target. Mr Lamond, who owns 20 per-cent of Orbit's shares, warns that the company will use whatever strategy necessary, including its shareholders' rights plan, to shoo away a hostile bidder. He says that management has been been through the mill before, and they are not exactly babes in the woods on this. He says that if anyone tries to buy Orbit, they will have to pay top dollar. Shareholders selling prematurely are not realizing the shares' full value, particularly because of the oil and gas sector's steep share price decline in recent days, according to Mr Lamond. He says that Orbit shares are worth at least $2, based on independent evaluations. (c)
Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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