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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: keith schaefer who wrote (6813)	9/7/1999 7:45:00 PM
From: CIMA	Respond to of 24921

Pan Ocean to sell seven million shares privately Pan Ocean Explorations Inc POE Shares issued 3,031,035 Sep 2 close $0.19 Tue 7 Sept 99 News Release Mr. Brent Jardin reports The company has arranged a private placement of 7,000,000 special warrants at 15 cents per special warrant for the raising of $1.05-million. Each special warrant is convertible into a unit consisting of one common share and one share purchase warrant. Each warrant entitles the holder to purchase another share of the company for a year at a price of 18 cents. Pan Ocean will use the proceeds of the private placement to finance the company's 5-per-cent working interest in the Ekho project in the San Joaquin Valley, Kern County, Calif. The Ekho project is a deep oil and gas>exploration project where Pan Ocean and a consortium of junior companies are preparing to drill a well to an estimated depth of 18,000 feet. A finder's fee is payable with respect to the above transaction.

To: keith schaefer who wrote (6813)	9/8/1999 8:41:00 AM
From: Craig C	Read Replies (1) \| Respond to of 24921

Olympia FWIW - have heard they have hit some nice gas wells in Southern Alberta (27-05W5), but news has not made it to the news media. Only word through insiders. They are in with Vermilion on some of the south gas wells. Interesting there 2nd quarter numbers are late. Current drilling at end of Aug. a 2100 meter well up north at 82-10W6. If your going to figure out the value of the stock you may want to use a 8-10x annualized 2nd quarter Cf when the news is released.That seems to be what the market is paying for these stocks right now. Careful of broker cash flow targets going forward for 4th quarter predictions. Its all pie in the sky stuff. I would think Olympia will do a financing at these new price levels, so the brokers may be pumping it to get there share of the stock sold. I don't have a pos. in this one. If your going after this stock with 35 mil shares there will always be weak hands so maybe you can pick it up on the cheap.