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

To: Rocket Red who wrote (3795)	8/1/1999 1:01:00 PM
From: grayhairs	Read Replies (2) \| Respond to of 15703

Well, believe what you want, Rocket. Originally "the KOB Group" held a 6.56% interest BPO. That interest reduced to only 4.92% APO. When Prima opted out of the whipstock of the Bellevue #1 well, "the KOB Group" picked up an additional 0.44% interest BPO which incremental interest reduces to only 0.33% APO. So, in total "the KOB Group" holds a 7.00% interest BPO which reduces to a 5.25% interest APO. KOB holds 85% of "the KOB Group" interest so KOB's direct interest is 5.95% BPO and 4.4625% APO. Just because you do not understand what KOB holds does not mean that they and others do not.

To: Rocket Red who wrote (3795)	8/1/1999 2:07:00 PM
From: Check	Read Replies (1) \| Respond to of 15703

Hi Red, <<I think KOB doesn't even Know What they Own.As per Kob NR(Above)>> Now, be fair. Just because you got confused: <<6 months Results in 1998 Kob says 4.92 Working Interest 9 months Results in 1998 Kob says 5.2 Working Interest Year -End results in 1998 Kob says 4.4625 Working Interest. GO Figure>.>> the above is not a "KOB NR", it's your reading of it!!! If you'd read these things carefully, you'd note that KOB, (Kookaburra Resources LTD.), holds it's ELH interest through a JV interest in KOB Energy Inc., of which it owns 85%. KOB Energy Inc.'s original interest in ELH was your above noted 4.92 %, or 1/3rd of STB Energy's original 14.765625 per cent interest, to be exact. O.K. so far. Now round about July '98, Prima , one of the JV partners, stopped contributing to the ongoing sidetrack and drilling program, thereby forfeiting it's interest to the other paying partners. This put Kob Energy interest up to 5.25 % of which KOB's (your stock's) interst is 85% or the 4.4625% you seem to doubt now. Check it out and have a good time. P.S. The squids are out there, watch out!!! This is about my 6th attempt to post this so may have the answer already, but just in case.