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Gold/Mining/Energy : Tusk Energy (TKE)

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To: Elmer Flugum who wrote (995)	11/24/1998 10:26:00 PM
From: kingfisher	Read Replies (1) of 1207

Perhaps more wells at Meekwap will convince the reserve engineers to recognize the potential from this area. I was browsing Pan Atlas's web site and they state that the Meekwap unit as produced 35million boe out of a potential 80million boe. Now if Tusk has a average stake of 25% in this unit and with a potential of 45million boe remaining to be produced this implies that Tusk potential proven and probable reserves at Meekwap can with more drilling rise to over 11million boe.At $5 per barrel in the ground value we are talking a pretty serious market cap potential. Richard

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