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I also would not sell at this time. AIPN is hanging tough when you consider what the DOW & NASDAQ have been doing of late. To me, this at least proves that the BIG money is staying with AIPN and not selling. The current support level is around 3 3/4. I think going below this level is not very likely especially when you consider that each passing day brings us closer to a news release concerning the Wavetech/Geotex results. The company has stated earlier that they anticipate "BY" January 1998, they'll have "...the necessary information to map, in more detail, the structural leads in the area, including Chikuduk, AND TO EVALUATE THEIR POTENTIAL FOR PROVIDING ADDITIONAL RECOVERABLE RESERVES." Note that they said "by" January 1998...NOT "in" January 1998. I don't know if this was a typo or intentional. As it was written, it means NLT December 31, 1997. So there is still an outside chance of getting some news by year end. Based on this possibility, this is a very dangerous stock NOT to be in at this time. However, assuming "by" January 1998 actually means sometime IN January, then we're still looking good! The CEO stated in their last news release, "We have been VERY PLEASED with the progress of the evaluation of the existing 1800 Kms of seismic acquired with the block, which continues to justify our exploration effort." Once the news is out, I believe we'll be in double digits which should occur NLT January 31, 1998. |
