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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: SofaSpud who wrote (5449)9/30/1998 10:23:00 AM
From: Taff   of 24925
 
Hello David / Re; Black Sea

Thanks for your insight, I did buy a few thousand shares when they were around 35cents so even now I can flip out a few bucks; latest quote around 60 cents. From my understanding of the the company assets is that they have around 40mil in the bank "according to my broker" that would make their stock worth 80 cents if they shut the doors today.

Yes I see that they have brought in some people from Oxy as of a couple of months back. Expected that they will put Russia on indefinite hold and pursue interests in the US and Peru. I know the rough costs of bringing oil to the surface in the US and it is around 7 to 8 dollars per barrel, transportation extra. In Peru I have no idea what the costs are, but it could not be anymore IMO. Transportation costs could be high, not sure if there is any flat ground in Peru. Expected first well to be spudded sometime this fall "October" + a couple of months, maybe.

Is the stock worth holding? once it doubles I sell out my to recover my costs and hold whats left. the stock, could definitely come back to its 4 dollar range given a year or two.

I hold most of my energy stock in Ocelot and Talisman, both heavy into gas. And according to the Farmers Almanac, as good a source as any, this winter is expected to be cold.

Regards

John
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