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Gold/Mining/Energy : Energy Biosystem Corp NASDAQ-ENBC

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To: EAGLE-EYE who wrote (134)	6/25/1998 1:00:00 AM
From: ForYourEyesOnly	Read Replies (1) of 336

CC Summary from Yahoo: Bill Nasser did most of the talking and was pretty impressive. It was the most detailed and understandable conference calls I've heard from these guys in years. He explained the Alaska plant and the importance to the company. Full BDS, no hydro, full access to operating data and open to visitiation from ENBC potential customers. In other words someone else built a full scale demo plant for them. Nasser made it clear ENBC is a biotechnoology company. He indicated the company was talking with several petro-producers about using the biotechnology to produce specialty chemicals. I know Texaco is interested and they a company mentioned. Nasser was very clear about saying he and the board believed the company was undervalued and that he and other board members and a couple of officers were buying stock---beyound what recently showed up on insider records. He explained that the window of opportunity for BDS was still there and expanding. He stated he thought it would be 3 years before a full-plant mainstream project was online. I think the company plans to focus on leveraging their science, patents, and research ability. They'll do some kind of bridge financing to keep cash levels up, but they're trying to snag a big player, could be Texaco into a new meaningful (i.e. lots of cash) partnership. Nasser indicated they had cut expenses by about one-third, shut down St. Louis. Ifound Nasser to be credible and he sounded prepared and excited. He mentioned they had outsourced some excellerated develpment of the baterium and that was working well. Paul Brown was fuzzy about financing issues, but I don't suppose he can say anything until an actual deal is struck. In the meanwhile, the most important thing I heard, and have seen concrete evidence of insider buying. There are a lot of reasons to sell a stock. Only one reason to buy.

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