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Gold/Mining/Energy : American International Petroleum Corp
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To: qdog who wrote (6737)1/19/1998 7:48:00 PM
From: Laserbones  Read Replies (1) of 11888
 
Oh, I can be wrong about alot of things. But for aipn to actually be started on a drilling program by 2ndQ looks tight to me. Rig availability must be at least a minor issue. Would you expect aipn to already have started the logistics in getting some rigs on the way to these areas? Even if there is additional seismic that needs to be digested, wouldn't it be a near term bearish sign for drilling not to begin at Chikuduk or Bengash during 2ndQ?

I am using aipn's own words in evaluating this situation. They stated that there will be seismic on these two concessions in hand within the next few weeks. Do you feel short term that it is extremely important for aipn to show confidence in their data by drilling in a timely manner?

Does it appear to you that aipn has enough cash on hand for the following:

--continue with the seismic program
--move rigs on site and commence drilling
--continue with the start up operations of the refinery (it's "startup" as long as they haven't sold any asphalt)

And there are probably other cash outlays.

DrRisk made the point that he feels a JV is required prior to any drilling...it's not an unreasonable position if additional dilution is being ignored as a possibility--and that is a giant chuckle!
Greg
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