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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: paul feldman who wrote (44643)5/13/1999 2:41:00 PM
From: JungleInvestor  Read Replies (1) of 95453
 
SEV is another company that Soros has a position in. Couldn't resist backing up the truck even more this morning and buying at 4 1/16. Sold PZE to do it (SEV is now 95% of my total long investments, excluding call options). SEV's prior Colombian management botched 5 wells (used vertical drilling). As a result, estimates of their reserves were greatly reduced and the stock was demolished. SEV's new Colombian management used horizontal drilling on the critical TP-1W well and have been testing it for several months. The results should be out within 3 weeks. It's speculative, but couldn't find a better risk/reward out there.
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