ABC - Abacan Resources, Nigerian Oil $$$ Message Board

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Gold/Mining/Energy : ABC - Abacan Resources, Nigerian Oil $$$

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To: Sam Lee who wrote (2502)	2/20/1999 8:22:00 PM
From: Arktic	Read Replies (2) of 3156

Despite the rumors of something in the works... I remain highly skeptical of this company's viability. Seeing Stephen's salary gives some clarity why he would be motivated to remain onboard, even if the ship is sinking. It's not like there are a lot of jobs in the oil patch today. On the other hand, there may be some form of salvation just around the corner for this company. But I'm not banking on it. The Majors are convinced that oil will be back in the $16.00 range within a few months. I'm not sure whether this is driven by realism or the same wishful thinking that so many others of us in the oil patch seem to engage in. There's nothing like drilling for oil to bring out magical thinking... Oh... well... one other thing... Steelhead fishing! Talk about reinforcing superstitious beliefs... fishing and drilling for oil probably have all other pursuits beat hands down! So... what kind of reverse split ratio is being discussed at this time. I've heard $1.80 being bantered around but what is the share ratio being discussed? I suspect the large investors are having a say with regard to this issue. Paul L. Craig

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