"<<Based on this possibility, this is a very dangerous stock NOT to be in at this time.>>"
Stephen, Very good point. Also agree with most of the things that you've said and to the possibility of obtaining some meaningful news by\in January. Afterall, all the company's official press releases are hinting to us that important announcements may happen on that month. Even in the November 24 press released, Keith Bossey, the Cohen analyst who follows the stock very closely, pointed out that "THE SIGNING OF "THE CONTRACT" IS A CRITICAL MILESTONE FOR AIPN AS ANY POSSIBLE VENTURE PARTNER HAS ALL OR MOST (ESTIMATED THAT ALL INFORMATION NECESSARY WILL BE AVAILABLE NO LATER THAN THE END OF 1997) OF THE INFORMATION NEEDED FOR MAKING AN OFFER TO THE COMPANY." If Bossey is right, I take this to mean that the bulk of the Wavetech work my have been completed by now and that add'l seismic work that Dr. Faris has ordered to be done recently is just a supplementary work needed to confirm\solidify the Wavetech numbers. Otherwise, if this mission was that critical, I would imagine Wavetech would have chosen to be there to supervise it more closely.
Additionally, during the last CHAT session with Gary in the second week of December, when asked with a question: "MUST AIPN SUCCESSFULLY STRIKE OIL IN ORDER TO GET A JOINT VENTURE? Gary forcefully replied: "ABSOLUTELY NOT!" You be the judge.
Interestingly enough, yesterday while the DOW was down 235-240 points, the AIPN "ask price" barely budge from 3 7/8. I know this for a fact 'cause I was bidding @ 3 3/4 from 10:30am-3:00, but had never gotten an execution until I raised it to 3 15/16. Yes, the stock traded lower in the morning but only for a few hundred shares. Also, I was on a bid all day @ 1 13/16 for a few more warrants. But with luck working against me, didn't get any at all. Apparently, there weren't many as much motivated sellers. Based on the above experience, again I would strongly agree with you that the $3.75 area is probably the bottom for now. And may not be below $3.00 as somebody on this thread had suggested recently.
IMHO, those who own and keep the stock for the next few months, the worst case scenario that I see is a decline to $3.25. However, if substantive news on the potential recoverable reserve and the refinery business related financing numbers are announced during the next 30-40 days, we should see AIPN go to DOUBLE DIGITS right after. Moreover, when a lucrative JV is signed after that, and AIPC could take all the time it needs to complete it, then its share price could only go much higher. I could be wrong, but I think we are close. Always remember that with patience and persistence, will come success. Good luck to all! sycamore
P.S. As far as Millennium is concerned, and let me state clearly that I'm not a big fan of Mill, but I take the bullish comments (the favorable events, the huge numbers, etc.) originating from that office as a BIG POSITIVE SIGN. Though, as a responsible investor I wouldn't take it just for what it is, and instead use them as guides to do more DD. Afterall, besides the company officers and an analyst who covers the stock, who else would know much about a company's business than a PR firm who owns a big chunk of stock and is assigned in-charged of issuing AIPC's official press releases and other means of communication to the general investing public. |
