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Gold/Mining/Energy : Ness Energy International -- Ignore unavailable to you. Want to Upgrade?

To: K A Anderson who wrote (52)	8/21/1999 5:43:00 PM
From: Mighty_Mezz	Respond to of 364

As of 1992, record drill hole was a tad over 40,000 feet. At approximately 13 kilometers (8 miles) depth, the Kola well in northwestern Russia is the deepest drill hole in the world; it was drilled to learn more about ore-forming processes and to test subsurface geophysical models. info.er.usgs.gov ...Mezz -

To: K A Anderson who wrote (52)	8/21/1999 10:53:00 PM
From: Q.	Read Replies (1) \| Respond to of 364

Assuming the well would cost at least $30 M to drill, where would Ness get the cash to pay for it? The latest financial statement is the 10k, which shows assets of only $27,044, and liabilities that are considerably larger, so that the shareholders equity is more than a million dollars in the hole. That's not very promising for funding the drilling of a >$30 M hole. The 10k makes the vague statement that Management plans to raise capital through the private placement of company stock and, eventually, through public offerings. How successful will this be? This excerpt from the 10k suggests it isn't very promising: On June 7, 1999, the Company successfully completed a private placement of 625,001 shares of stock and received proceeds of $281,250.