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Gold/Mining/Energy : Central Pacific Minerals & Southern Pacific Petroleum
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To: PKFVA who wrote (64)8/23/1998 5:08:00 PM
From: CLK  Read Replies (1) of 90
 
I really do like the story but have several concerns. First, how much money past phase one will these companies need to go into full production and how much dilution will be entailed? Second, if the Asian crisis accelerates how will the market be for the oil and third, what is the production %, that is how efficient is the production in terms of recovery. If those answers can be adequately answered, then I say this is the best oil investment in the world but if these answers are not satisfactory, I would be careful. My buy point on CPMNY is 4 to 4.25 and I think we will see these numbers before we go higher. Perhaps a pop up first and immediately due to SU's posts on their web site. The key plus in my mind is the introduction of the Euro and the probability that oil will be priced in Euros and not in dollars. This would make the dollar value of these reserves far higher than anyone currently expects them to be and furthermore negates the damage caused by the drop in the Australian dollar. Chow.
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