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Gold/Mining/Energy : ABC - Abacan Resources, Nigerian Oil $$$
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To: Razorbak who wrote (2560)3/10/1999 9:11:00 AM
From: SDR-SI  Read Replies (3) of 3156
 
Razor:

With so many other positive developments in the area, as pointed out by Ed's post, it's getting harder and harder to keep wearing those damned blinders and having hope for Abacan .

The February issue of "OFFSHORE" includes a number of special features about O&G/E&P activity in West Africa, including items about Texaco's recent Nigerian successes (in Block 216, if I remember correctly).

With the amount of acreage that Abacan has in, around and near the same areas as these reported successes, it is totally frustrating and hard to accept that 100% of the energies of Abacan's management are (and apparently must be) devoted to issues of survival and cannot be allocated to the normal pursuits of documenting "possibles" into "probables" and developing "probables" into "provens."

Ed's trivia demonstration underscores the above.

At this point all that we gamblers can do is try to be optimistic that one or more of the positive rumors come to fruition, that the negative ones don't, and that ABACF stockholders still have enough equity when all is said and done, to get some benefit out eventually being able to get concentration back to E&P and away from financial crises.

A lllllooooonnnnnggggg shot at best.

Steve
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