Orbit Oil and Gas (t.orb) Message Board

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Gold/Mining/Energy : Orbit Oil and Gas (t.orb)

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To: Scott Mc who wrote (136)	12/1/1997 4:29:00 PM
From: Goldberry	Read Replies (2) of 171

Scott/all Decided to sell 60% of my position at $1.75. I still think Lamond is a snake and you can bet he is spending big time figuring out how to stymie this offer and not as much on getting a better deal. This is a big meal ticket for Lamond and he keeps issuing himself more shares each year at undervalued prices. Management (mostly him) control with options about 31% of total fully diluted shares (around 47 million). I reckon he only needs to have friends purchase or control about 10 million shares to defeat this takeover and I am concerned with the volumes currently being traded about 14 million shares since the announcement. If I don't see some info about other interested parties in the next week I will sell it all. Upside I doubt this stock is going past $1.90 especially with current demise of energy shares. Just my opinion and I welcome others. Graham

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