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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF)
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To: g.w. barnard who wrote (7628)1/15/1998 1:00:00 AM
From: Larry Brubaker  Read Replies (2) of 9164
 
g.w. My impression of Lundin was that he wasn't pleased with Kahn, although I didn't think he put the real issues he has with Kahn on the public table. He mentioned he'd like to see cutbacks in Arakis Calgary Office expenditures, and to solely focus on Sudan, rather than drilling in Oman. I didn't see these as huge issues.

I have no idea if he ultimately wants to take over Arakis, but if he does, I would imagine the price he would want to pay would be considerably less than what Arakis shareholders would like to see.

Obviously, the next hurdle for Arakis is to secure financing for the remainder of their share of the capital expenditures. My guess is that the stock will do little until that question is answered.

However, I have been wrong on Arakis many times. Unfortunately, I am usually wrong only when I think the price is going to go up :-)
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