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Gold/Mining/Energy : Arconenergy, Inc. (Long Term Investors and Fundamentals)

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To: Ga Bard who wrote (13)	2/7/1998 10:13:00 PM
From: Ga Bard	Read Replies (1) of 1757

I have just read my emails and I am going to respond to some questions I have received after getting back today from my meetings with Arcon Energy: 1.) Deal Arcon pay for your flight, hotel and food? ANSWER: No they did not. I paid for my own flight both ways and I stay with Jimbo who was kind enough to open his home to me. However Jimbo did in fact pay for my food while I paid for the games of pool. which he won both games :-) 2.) What was the benefit for you to go when you have others living in Dallas area that could have done the research for you? ANSWER: because I like to hear first hand what the new management had to say. Also I ask very detailed questions and I wanted to see the proof to the answers plus the eyes of the men. Also I want some hard black and white material to support what I am posting. ALso I follow no one and I am extremely skeptical. The first question Dan Fisher asked me was what I expected to gain out of this visit. I told him the same thing I am telling you. I want the truth and acurate information nothing more nothing less. I did not get a dog and phony show but merely good meetings with the engineering guy Mr. Bean and on the second day Dan Fisher and Lee McAndrew. upon which they answered a lot of questions. Again I have not nor would I accept anything from this company. I have bought all my shares over the course of Sept to Present. I want nothing but to post accurate information. For example I walked in and based on the area of town I immediately stated, 'You have to be paying $25 a square foot for office space.' I was informed they were paying much less I believe it was $17.00 a square foot. Then I was told that 66% or about of their lease was subleased to another company for $25 - $27 I believe. Now if you do the math they are getting $8 to $10 profit from their sub lease. For those who have never calculated an office space lease figure I will show the math. Hypothetical : 5000 sq st @ $17.00 = $85,000 per year or /12 = $7083 per month on an office lease. Sub lease: 3300 sq ft @ 25.00 = $82,500.00 or / 12 = $6,875.00 Subtracting from the lease of $85,000.00 the sub lease of $82,500.00 leaves a total of $2,500.00 or /12 = $208.00 rent for their offices in the North side of Dallas. I was impressed. Since I do tenant build outs in office building that is a small bit of information I got just walking in the place. The exact numbers I do not have but that is basically a formula that if you put the real and accural numbers to I think you can see the advantage of a cost effective senario on effient overhead. Happy Trading GB

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