Central Pacific Minerals & Southern Pacific Petroleum Message Board

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Gold/Mining/Energy : Central Pacific Minerals & Southern Pacific Petroleum

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To: PKFVA who wrote (19)	6/15/1998 3:08:00 PM
From: Thomas M.	Read Replies (1) of 90

I've noticed that CPMNY consistently trades at a significant discount to SPPTY. The conversion ratio is 2.7 ADRs of CPMNY to 1 ADR of SPPTY. That would put CPMNY's current price around 8, but it is actually trading at 7. It seems CPMNY is the one to buy, at least right now. Since this is such a long-term play, I was looking for a bear market in oil as a buy-in point for CPMNY/SPPTY. I'm starting to get interested right now. Stage I is supposed to come online in February '99, so that seems like a nice target date for a news event. Tom

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