first star energy FST on the ASE Message Board

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Gold/Mining/Energy : first star energy FST on the ASE

FST 10.18

+0.3%

Aug 25 5:00 PM EST

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To: Diamond Daze who wrote (568)	7/13/1998 1:55:00 PM
From: grayhairs	Read Replies (1) of 754

Hi Chris, An illogical suggestion has been made to you on this thread to the effect that should the next Strachan well drilled by Apache NOT be located precisely as per the original agreement (i.e. the terms of the agreement are altered), then we shareholders of the sisters need to be very concerned. I want to ensure that you see that suggestion for what it is, PURE CRAP!!! The suggestion is irrational because requiring Apache and the sisters to proceed EXACTLY per their original game plan is akin to saying that they must ignore absolutely everything that they have learned through the drilling of the first $4.5-5.0 MM well!!! I prefer that management of companies that I invest in always make their decisions based upon the most complete and current information available to them. [If there's a good reason for changing the location, then change the damn location!!!] Recognizing that all parties to the farmout agreement (i.e. not just Apache) would necessarily have to consent to any deviation from the original game plan, I would view a change as being justified and in the mutual best interest of all parties. Reading anything more than that into a location change would be quite ridiculous, IMHO. Later, grayhairs P.S.- Quite some time ago I stated that the next well may NOT be drilled at the first option well location. I still believe that may be the case because there is an alternative earning location which makes more sense (to me, anyways)!!

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