Red Sea Oil Corporation (RSO) Message Board

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Gold/Mining/Energy : Red Sea Oil Corporation (RSO)

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To: Tomas who wrote (70)	1/18/1998 11:25:00 AM
From: Donald Lickman	Read Replies (1) of 332

Thomas, I am referring to the Upper Zelton, the Lower Zelton tested 550 BPD with 60% water. Hope my info. is acurate, it should be. Although I don't know the exact fiscal terms in Libya I was given this info. by an executive of a company who has operated in Libya. The thing we don't know is that RSO likely had the terms slowly improved after each dry hole they drilled over and above the original committed work program. It wonder if RSO gets to recover its capital before sharing begins? I am trying to locate a copy of RSO's Rights Offering Circular which should have additional detail on the terms with Libya. Regards Donald PS-How are you playing Libya through RSO, Sands or IPC?

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