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: johnlag who wrote (1384)	2/3/1999 6:41:00 PM
From: Poseidonas	Read Replies (1) of 15703

Berkley news announcement today is great news. It shows that the largest company involved in East Lost Hills has great confidence in this project. Armstrong Res. was did not have the resources to continue operating and thus struck a deal with Berkley. I am told that the buck does not stop here. Berkley has its eyes on other partners involved in this project. The best suited candidate for takeover is Westminster (WML). Check out company profile and background of WML at www.wesres.com. Also Berkley and Westminster have a common member on their Board of Directors. I am also told that the second well #2 is approx. is at a standstill until another attempt is made to shut #1. Insurance money is running out and don't be surprised if some of the small partners start to feel the pressure of cashcalls. This will put Berkley in the drivers seat. Therefore, in my opinion, the safest play for those betting on Lost East Hills project is either Westminster or Berkley. I believe that Westminster will have a better upside. Look for minimum $15/share takeover if Lost East Hills comes through. PS.. maybe someone should start up a thread for WML Best of Luck Poseidonas

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