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Gold/Mining/Energy : Charger Petroleum Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Superstone who wrote (35)	7/1/1999 12:53:00 PM
From: surelock	Respond to of 58

>The promoter has not moved on; just taking the July 4 weekend off. I see. Okay, I guess it is a very long weekend. All the support bids disappeared on June 23. When does his long weekend end?

To: Superstone who wrote (35)	7/2/1999 10:29:00 AM
From: johnlag	Read Replies (2) \| Respond to of 58

Good to see you back, Superstone. <<The stock is going to get stronger for a variety of reasons.>> Please quantify! Charger's market cap is over $110 million right now. Coyanosa's Ellenburger formation is not the big 'win' Standen promised. As ops continue to try to create a productive well, the economics will continue to diminish, probably ending in a very average well with payout in 3 years. This was the 'wonder well' of the group and has to be over budget - deep wells are VERY expensive. How much cash is left in the till? How is the $6 financing coming along? I understand the Bach well will TD in the coming weeks, but you'd need a massive discovery to justify current pricing. Looking at the trend and area discoveries leaves me very comfortable as the odds are poor of finding a new discovery over 100 BCF in size. Also, what is the motivation to pump this thing so high? If Charger was around the $2.00 level, I wouldn't think twice about it. But when you get a shell like CHC into the $5 range, it becomes a VERY attractive short. Standen can do all the stock aquisitions he wants, but at the end of the day CHC will trade on its true value. You can't create massive value from making 'deals'. I've seen it before. By the way, excellent job on the market if it is you that runs it. Your input would be appreciated. Enjoy your weekend. John