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Gold/Mining/Energy : Steppe Gold (SPE:V)

SPE 15.24

+0.3%

Nov 7 4:00 PM EST

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To: Robert Dydo who wrote (646)	2/18/1998 8:39:00 PM
From: John Menzies	Read Replies (1) of 1248

Tractabel : have not all the facts - but there is clearly some positioning going on here. The gas supply network in the country is in a state of dissaray and requires substantial new investment - and it has been cold over there of late - it is winter of course. There have locally been some problems with gas supply and the inability of the system to supply is clearly causing some heartache - particulalry those who are a bit cold. Tractable are I believe making a substantial investment in the country and the consumers will have to wait until this investment starts to have an effect on the effectiveness of the supply network. Like all developing countries there is an expectation that foreign investment will produce an immediate result - you just have to be patient and stick to th game plan. If you knoe more I would be interested.

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