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

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

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To: SDR-SI who wrote (2590)	3/17/1999 10:54:00 AM
From: Arktic	Read Replies (1) of 3156

Steve: Good post but I don't think I ever stated the following as mentioned in your post: "Third, IMHO that the comments made by Craig and others implying that non-disclosure of additional, specific detail implies that Mr. Stephens is engaging in delaying tactics principally to afford himself the opportunity to collect a few weeks extra salary, are unwarranted and incorrect." I take no offense to being cited but I don't recall ever making such a comment in any of my posts. I suspect Stephens is doing his best to help the company survive and thrive. For what it's worth, I also liked your analysis of the formula and the relative weighting within the Abacan analysis of certain factors. Good analysis. I might add that if the same formula were applied to my company in March 1997, I'd have looked totally bankrupt with no hope of survival. As can happen in the oil patch, a suitor moved in from the shadows and bought out the hydrocarbon rights held by the company. One event of this nature and totally change the fate of an oil and gas company. Such could happen with Abacan as well irrespective of the Altman Prediction model. Paul L. Craig

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