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

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

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To: Juli who wrote (2640)	3/30/1999 11:04:00 AM
From: Arktic	Read Replies (1) of 3156

If readers go back and read the SEC filings, the contingencies of Rice's injection of cash are included in his letter. I suspect if those terms are met, the injection of cash will occur by Rice and the other party. At the same time I agree with Razor that the "option" expires when either there is no more cash or a creditor takes Abacan to task and forces liquidation. But I really don't think that will happen because the creditors know that in liquidation mode, not much value will be extracted. They see a glimmer of hope that a JV will lead to renewed financial health for Abacan and are hanging in for the ride. Otherwise, they would have pulled the plug some time ago. Razor, am I wrong? Paul L. Craig

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