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Gold/Mining/Energy : Epic EAS.v (formerly Epic ERB.v and Safari SIR.v)
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To: Geoff who wrote (2952)4/7/1999 1:09:00 PM
From: andrew r harwood   of 3335
 
well i guess thats possible but in order for epic to move up it has to have something underway that will lead to the promise of revenue and earnings.right now as far as i am aware it has no cash ,has to sell shares from its treasury at depleted prices to pay for day to day office expenses .so continual stock dilution is going on .i dont know how many shares there are out there right now but i assume fully diluted it must be in the 15-20 million range ,anyone who has better information please correct me .
its past history is the same as many small vse natural resource stocks with the pump and dump technique having been used to benefit the few at the expense of the many.this of course doesnt mean that it wont become a "sportfish"but it sure is hard to see right now .
contrast this for example with petroquest a company whose net worth is not a lot higher than epic has money in the bank a recent big and verified discovery in the gulf with production that will pay for the company in one year hopefully beginning in june a number of other projects and production and some great 3 d seismic targets as a result of 3d seismic work in a field that has had a fantastic record in the past verified by a friend of mine who is a professional in the industry and there i think is a better chance of a sportfish.
anyway as always buyer beware ,i have put my money where my mouth is and time will tell .i am gradually developing a list of buy candidates from kaisers list to buy and try and retrieve money lost in demand isg ,clifton vital pacific amongst others .arh
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