NPEC CEO to answer questions ON-LINE! NP Energy Message Board

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Gold/Mining/Energy : NPEC CEO to answer questions ON-LINE! NP Energy

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To: Jerry Keba who wrote ()	2/8/1997 11:24:00 AM
From: Jerry Keba	of 42

History: Les became involved with NP back around 1980 when he was with a company in Vancouver. They were doing ok until there was a change in leadership around 1982. In 1984, leadership reverted to old group from prior to 1982 but by the it was too late to keep the company out of bankruptcy. Certain loans were made between NP and some S&Ls right before the S&L crisis. NPs S&L went under then their new one went under and back around 1984/5 they went into backruptcy. It was intended to be about a 6-month deal which lasted until 1991. The following 4 years were spent cleaning up the mess. Les has had an unfortunate past of deals going bad through no fault of his own. This is important because it is a big reason for their cautiousness. Les started some deal in 1995 in Voissey bay and some coal and oil deals. Most didn't work out and in late 1995 Ian Dow came in and started working on some deals with Les (Chile, Indo). Through another acquaintance, they got into the oil deal. Ian has also had some past deals fall through which again adds to the caution. JKeba

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