Indo-Pacific Energy Ltd. (INDX) Message Board

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Gold/Mining/Energy : Indo-Pacific Energy Ltd. (INDX)

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To: The Big Guy who wrote (728)	6/16/1998 2:55:00 PM
From: Ritchmc	Read Replies (2) of 866

Are they ever going to drill anything? Rigs are hard to come by they say. With oil at $12 they may not be that motivated to drill. They sure like to sign new leases. In my humble opinion, they would have been better off to stop the lease binge and put some metal in the ground and see if they actually have any black stuff. If their leases run out in 2 years if they don't drill that is bad news. I don't think they can do the drilling in that time. Their justification for not drilling has been expense and availability of drills. It may take a couple of years of drilling to hit anything. I think this stock is going to stay in the $1.25-$1.75 range for some time. Any other opinions. Ritchmc

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