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Gold/Mining/Energy : mxp (mesa Inc)

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To: Frederick Smart who wrote (204)	3/14/1997 2:06:00 AM
From: Bryan Arnold	of 394

On a side note, Mesa announced yesterday that they have approved a $130 million dollar budget for development, exploring, and gas processing. In addition, they announced that they had reserves of 1.61 trillion cubic feet of natural gas equivlants valued at 1.8 billion dollars. If you add in the two announced acquistions, then the value goes up to 2.1 billion dollars and that compares to 1 billion dollars last year. I would say 1996 was a good year. They also announced that they were the high bidder on 4 tracts in the Gulf of Mexico site and they spent 668,000 on those 4 tracts. Bryan

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