CAYC - CAYE CHAPEL INC Message Board

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Microcap & Penny Stocks : CAYC - CAYE CHAPEL INC

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To: OFW who wrote (36)	6/6/1998 10:27:00 AM
From: Steve	Read Replies (2) of 56

Here is what Offie thinks he has. Great Plains settled an outstanding issue with the TRRC earlier this year for violations concerning 10 wells for $26,000. There are 7 other violations concerning 21 other wells. These violations concern the fact that they had no production for 1 year. Great Plains had financial problems hence the deal with Caye. Total fines won't total more than $100,000. This is not a big issue and is not material to the recently completed deal. There are two faces to the TRRC. One face is advesarial the other cooperative. GPI and Caye are negotiating the settlement with TRRC. Further violations are unlikely since GPI now has the financial backing of Caye Chapel.

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