KOB.TO - East Lost Hills & GSJB joint venture Message Board

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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture

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To: Check who wrote (1381)	2/3/1999 10:21:00 AM
From: Salt'n'Peppa	Read Replies (1) of 15703

Check, that is an amazing press release. This significantly changes the comparison table between the companies. BKP is now VERY attractive. If they bought Armstrong's private 17.5%, this must make KOB's puny 5% a very attractive buy for them. Do you know what they mean by "the earning phase"? Why would Armstrong give up his entire 17.5% stake in the play that he put together (unless they paid an absolute fortune for it!!)? I understand that he would need a lot of working capital for his share in the development phase, but surely development of the ELH field would be an "earn as you go" scheme. Thanks for the post. Rick.

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