TransAtlantic Petroleum Corp (TNP.U - was Profco) Message Board

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Gold/Mining/Energy : TransAtlantic Petroleum Corp (TNP.U - was Profco)

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To: Bill Shugarue who wrote (137)	12/2/1997 4:00:00 PM
From: bob bundy	of 270

Profco may very well be undervalued, but as Abacan found out, producing in Nigeria is a tricky business due to the sands that they have to deal with when in production. Having an asset but no cash usually leads to decline in price. The market, besides seeing a general decline in oil stock prices, obviously has a concern regarding Profco or the price would not be in the dollar range. The Tunisian well is casing and drilling will not commence for about ten days as per First Calgary's release today.

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