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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: g.w. barnard who wrote (7382)12/6/1997 11:54:00 AM
From: Marantz  Read Replies (1) of 9164
 
g.w.,

Please let it not be a reg s! Our second largest shareholder, Dan Rice, has suggested in the past that it might have to be a convertable offering so the lender can participate in the project when it turns profitable, but I personally favor straight debt. The consortium has been carrying the Sudanese share of the financial burden until such time that oil and money flow and they can get square with the partners. It would be nice if China would let us do the same. They could cover our remaining costs and be paid back out of the early revenues.

Marantz
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