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Gold/Mining/Energy : International Rochester Energy Corp. (V. ROH)
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To: T.Martin who wrote (3)2/10/1997 3:11:00 PM
From: R F B, Jr.   of 188
 
Tom :

Thanks for the info. Drilling in Alcaravan should be okay through the end of March. Believe dry hole costs (or cost of the wells) are somewhere between 2-3 mm so it would appear that they must hit oil to survive. Almost like Triton. If Triton didn't hit they would have been gone as well. However, there are other big differences between ROR and OIL at this point.

Working the math over once again it appears as though upside potential is only $0.30/share if 30 mbo are hit.

RFB
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