Indo-Pacific Energy Ltd. (INDX) Message Board

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

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To: Atlas who wrote (757)	7/22/1998 11:17:00 PM
From: Omar	Read Replies (1) of 866

I stand corrected. I verified your claim (sorry, but you can't believe everything you read on these threads) and you are right. Good thing someone reads the fine print in the annual report. However, if you do the math this really says that if INDX owns 233,510 shares of TEPUF, and there are 27 million shares of INDX outstanding, each of your shares of INDX represent an interest in .0086 shares of TEPUF, currently valued at about 2 cents, based on TEPUF's closing price of $2.75. So even if TEPUF tripled tomorrow, that would add about 6 cents to the price of a share of INDX. All of this raises an interesting question, why would INDX invest its cash in TEPUF, instead of investing in drilling rig leases? I wonder if TEPUF owns any INDX? Omar

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