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Gold/Mining/Energy : ABC - Abacan Resources, Nigerian Oil $$$
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To: Razorbak who wrote (2642)4/5/1999 5:02:00 AM
From: Edward M. Zettlemoyer  Read Replies (1) of 3156
 
Razorbak and all, it is certainly good to see the company more verbally visible. In reference to my past trivia demonstration concerning the lengthy negotiations I find this information as perhaps an explanation. From annual report, Benin Basin paragraph,<The company is currently negotiating with a major international natural gas producing and electrical power generating company and the Government of Benin for the development, financing and construction of a natural gas powered electrical generation power plant which is anticipated will provide electrical energy to benin and the neighboring countries of Togo and Ghana.> The key words here in my mind are "development, financing, and construction of", in other words, personally I was under the assumption that the power plant project was already in motion, under construction, with bids being considered for the power supply. Hopefully, the feasibility surveys for such a project have been completed over the last several months to mark some progress toward the developmental stage of this project. I am wandering, is there any signed contracts to build the Benin power plant yet? I see this as perhaps the first possible pivot point for this company. Also, as a craftsman with experience in the construction of power plant components I would like to submit that it will take at least 18 months to 2 years on a fast track schedule to construct the power plant. Looks like a long road to profit if they can survive. Ed
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