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 (2509)	2/21/1999 12:15:00 PM
From: Arktic	Read Replies (1) of 3156

You're probably right Sam. For a CEO, that's not exorbitant. And... the debt is the key question. The letter from Rice posted on the thread which was gleaned from an SEC filing was promising news from my perspective. I must say that I've felt very singed by Abacan. Given my experience, I cannot say that I would be terribly optimistic about the future of the company. Only time and management can tell. BTW, in Rice's letter he referred to reducing expenses to $250,000 per month. I wonder where the rest of that cash goes? Any ideas? Paul L. Craig

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