Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Adda Resources -- Ignore unavailable to you. Want to Upgrade?

To: LowtherAcademy who wrote (502)	6/22/1999 2:19:00 PM
From: dgz	Read Replies (1) \| Respond to of 571

Does anyone know why Adda has to go through Ultra to clean up those 2 wells....why can't they just do it themselves? It's been over a year since they said they were going to do it - and they still haven't done it. There was never any mention at the time of the announcement that this cleanup was dependent on Ultra - but then later they announce they are waiting on an AFE (Authorization for Expenditure) to be approved by Ultra - which to my knowledge hasn't happened. It seems to me the management of ADDA is either incompetent or extremely unlucky - and I think the former is more the case. I was told it would take about $300,000 to cleanup those wells. They could have done that a year ago when they had some capital and maybe they'd have some cash flow now. Now I doubt they even have enough money to pay the exchange fees and will probably end up being delisted. This whole Green River gang (UP, ADDA, AOW, etc) seem to be a little less competent than we were led to believe. Do I sound a little frustrated ? Its because I am.