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Gold/Mining/Energy : Gendis TSE:GDS.A

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To: BioInv who wrote (50)	4/1/1999 3:48:00 PM
From: SAM-DAN	Read Replies (1) of 81

Will have to wait until next week to try and answer all your questions.Can say the tax change is a normal accounting alteration to take advantage of the losses against previous capital gains[according to an accountant we contacted]. They have not sold any of their holdings in Ft.Chicago but the drop in even that stock from last report might account for some of the discrepency in the net worth ,that you picked up. Tundra is, we believe, scheduled for the courts in October.Some "DISCOVERIES " have been done by the lawyers.If price of oil continues to climb we would expect a settlement before it goes to court.Our sources tell us Richardson hasn't covered himself in glory over this reneging on a deal and if it does go to court Gendis has a good chance of not only winning but being awarded costs.But one can never trust a court, that is why we think there will be a settlement. One other factor however re Tundra.Had that deal beeen completed ,Gendis might not have had to sell their Pioneer gas stock to meet their financial commitments.Don't know if they can counter claim agaist Richardson for that loss,but it might be interesting.

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