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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Salt'n'Peppa who wrote (3513)	7/14/1999 11:34:00 PM
From: grayhairs	Read Replies (2) \| Respond to of 15703

S&P, Are you personally comfortable with the accuracy of all of the APO interests reported in the tables to which you refer ?? Have you actually verified those APO interests ?? Based upon my personal review of numerous "participant" documents, releases, etc., I have many questions and am unable to duplicate many of the APO interests published by EJ in their tables. (This is not in any way meant as a criticism of the EJ work. The APO interests are just a real b*tch to sort out and my feeble old mind has not yet been able to duplicate the interests presented in the EJ tables. Given that I have my Viagra money riding on this, I'd sure sleep better if I knew that the EJ numbers are accurate !!) Specifically, with respect to ELH, I believe that: 1) The TMK interest shown (1.0%) is their correct APO (after payout) interest. 2) The PYRX interest is also correct (subject to the qualification of the footnote to the EJ table). 3) The KOB 4.4625% APO interest is very slightly understated by EJ. 4) While RLP's APO interest is only 3.75% in the first well, it increases to 4.0% for the rest of the project. 5) WML's APO interest is 8.025% (versus the 9.2% indicated by EJ). 6) ELK's APO interest is 6.34375% (versus the 7.87% indicated by EJ). 7) POU's APO interest is 10.6875% (versus the 12.37% which EJ indicate). 8) I have poor information on HTP's exact APO interest in ELH but believe that it can only be 9.5% which is the 10.5% APO interest held after the amalgamation with SOG less the 1.0% APO interest just recently assigned to TMK. 9) I have poor information on BKP's exact APO interest in ELH but believe it to be between 15 and 20% (versus the 24.25% shown by EJ). If you (or other threadsters) can direct me to any specific "corporate" documents which provide clarification of any of the participants APO interests in ELH I would be most appreciative of the time and effort that you will save me !! Note that I am not at all interested in the interests as published in the "research material" of various brokerage houses. If you compare a few of them, you will see why. You will appreciate that the EJ leverage calculations would be substantially impacted if one were to use the APO interests which I believe are correct. Later, grayhairs