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Gold/Mining/Energy : Tusk Energy (TKE)

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To: kingfisher who wrote (1067)	3/12/1999 9:40:00 PM
From: Scotchman	Read Replies (1) of 1207

Hi Richard, <<With W.T.I oil at U.S$ 11.50 Tusk is flowing $2.5million of cash flow annualized>> So with oil at $14.49 Tusk has more cash flow, sooo..... <<Tusk continue to have a significant interest in the Strachan play and are very optimistic on its prospects.>> Why are they farming out 20%? This would mean even more money for Tusk in the future or are they tired of the "clown show" FST has put on as operator. First Star has now proven they don't have the management skills or financial backing to be a big player. The time delays they caused looking for financing, only to end up with this result, proves that management cannot handle a play of this size. It would seem their managing decisions are not in the best interest of the shareholder. The loss of revenue through all these delays is more than enough to pay for the tie-in. FST was suppose to come out with a news release today, looks like this was to big of task for them to handle as well. TTYL, Scotchman

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