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: Ed Pakstas who wrote (620)	9/21/1998 9:59:00 PM
From: kingfisher	of 754

The following observation on First Star is from per Spectives Sept 18th.Available for free perspectives@shaw.wave.ca First Star (FST) discoveryplace.com Dalton (DAL) daltonr.com First Star, Dalton, Tusk (TKE, TSE) and Apache (APA, NYSE) have been working on the Strachan gas prospect for some time. The market had been waiting for news for a long time, and the stock fell off as tight hole status kept the flow of information to nothing. This week, these stocks all picked up in anticipation of the information embargo being lifted after the Sept 16th land sale in which, presumably, the consortium sought to tie up adjacent properties. An announcement was made on Sept. 18th summarizes the gas discovery which has been made. Basically, they hit another structure than what they were targetting, which flowed at 4.8mmcfd. However, because they hit something that was not their intended target, they did not hit the zone in the most optimal way. They now intend to do follow up testing based upon the new geological picture that they have from the recent drilling. That means there is lots of potential in this play, although we expect that this news is a bit of disappointment to the short term traders playing this stock. Expect a bit more weakness but then a nice bounce higher as bargain hunters snap up stock in anticipation of the next round of drilling. 55/100.

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