DALTON RESOURCES DAL:ASE Message Board

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Gold/Mining/Energy : DALTON RESOURCES DAL:ASE

DAL 57.01

-2.6%

12:13 PM EST

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To: Garry R. who wrote (420)	8/24/1998 3:39:00 PM
From: grayhairs	Read Replies (2) of 486

Hi Garry For simplicity, I will assume a 400 BCF marketable gas reserve and a $0.75/mcf value for the gas in the ground. In that case total value of the reserve would be about $300 million. Incorporating current data for fully diluted shares issued and outstanding, current share prices and assuming an efficient market we can estimate the approximate value of such a find to each of the sisters and the potential gains in share prices can be "grossly" projected as follows: ............... APO .... W.I. ... F.D. ... Value/ .. Recent ... % Company.. W.I. ...Value ...Shares... Share ... Price ... Gain TKE......... 30.0 ..... 90M ... 11.8M ... 7.62 ... 1.48 ... 515 FST......... 25.0 ..... 75M .... 26.4M ... 2.84 ... 0.55 ... 515 LEY.......... 5.0 ...... 15M ..... 8.6M ... 1.74 ... 0.29 ... 600 DAL.......... 7.5 .... 22.5M .. 22.6M ... 1.00 ... 0.18 ... 555 While the above calculations suggest that LEY and DAL today offer the best returns, TKE and FST have far better liquidity and TKE also has fairly solid value protection on the downside. That being the case, TKE remains my dance partner!! Later grayhairs

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