Jersey Petroleum -JPI (was Jersey Goldfields -JRG) Message Board

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Gold/Mining/Energy : Jersey Petroleum -JPI (was Jersey Goldfields -JRG)

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To: burner who wrote (12)	1/24/1997 6:11:00 PM
From: burner	of 100

Jay Taylor wants some answers Jersey Goldfields Corp JRG Shares issued 18,295,644 Jan 23 close $0.30 Fri 24 Jan 97 In the News Jay Taylor says in the January 13 issue of Gold & Gold Stocks that Jersey Goldfields is a hold for now, and he notes the stock ended 1996 at US$0.34. The newsletter writer notes that taking advantages of changes in Ecuadorian law, Jersey was one of the first junior companies to grab hold of the opportunity to explore and develop mineral properties in that country, which holds an enormous potential to explore for minerals. Despite all the apparent positive factors of Jersey's various properties, Mr Taylor notes the stock has lost more than 60 per-cent of its value since he recommended it last January. He says that suggests to him that something of a negative nature may be present that the company is either not aware of or has chosen not to tell investors about. Mr Taylor suggests that investors stay away from buying this stock until readers get some answers. He does not mention, however, what his questions are, or what sort of negative problems the company may have. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com ------------------------------------------------------------------------------------------------------- The company has decided to back out of an option agreement since the potential did not justify the additional issuance of shares in order to fulfill the agreement. This would have been dilutive to shareholders as it would have required the issuance of 1.4 million shares and as I understand would have been further dilutive upon the exercisce of some options that would have come in to play. The company has other prospects in mind and feels that this was the best approach to enhancing shareholder value. It sounds as though the directors will try to purchase any shares that Cominecsadecides to sell. They currently hold around 1.5million shares. I decided to stick with the company and hold on to my shares It looks like Jay Taylor may have written this "article" prior to most recent developments. Dan Byrne.

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