Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: Bobby1418 who wrote (1123)	11/13/1999 10:27:00 AM
From: ocerg	Read Replies (1) \| Respond to of 4686

On balance, I suppose that Mr. Gross buying 30,000 shares as opposed to selling 30,000 shares is a plus, but given the size of his position it is a non-event. What is giving me additional concern is the deafening silence by CCO in this matter. An earlier post (Ed?) mentioned that Ware requested a letter to garner publicity not be written or something to that effect. We are well beyond the point of patience. Just think about it again--- it took 6 or so months for 3 guys in black robes to tell the state that they better pay "just" compensation. The states reaction--No kidding, lets get on with the delays. We need more time to decide our options. Just asking a question, where is the Lykes interest in all of this? Could it be that they are content with the snails pace of the proceedings, since it is bleeding CCO's (Coastal Petroleum's)cash, which at some point would allow them to steal another big % of Coastal Petroleum. What did they pay for 30% (40%) of Coastal Pet. $600,000??? We need to shine the light on these proceedings, lots of it. Whether it is an oil company or a plaintiff in a tobacco suit should not make an iota of difference. We are a country ruled by laws, but the state of Florida is making a mockery of that. In Florida, the rule is by petty politicians and, sad to say, the politicians in black robes. An honest judicial system would have settled this case years ago.

To: Bobby1418 who wrote (1123)	11/13/1999 2:21:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 4686

I too picked up a few thousand shares at $1 1/2. I still think there are many small investors who don't understand the legal situation and the meaning of "just compensation". Some of them view the situation as being just another brief price runup followed by the usual slow decline back down to $1. I believe that it is now just a matter of time until the Court will order a formal appraisal. The State may still have the right to issue the permit in lieu of paying just compensation (the appraised value of the leases). At these low prices for the stock, I am still concerned that a takeover attempt is possible and perhaps even likely. It may turn out that Lykes and other insiders may be the ones who attempt to "steal" the Company. When the shareholders voted down the attempt to increase the authorized number of shares, it may have made such a takeover less likely. The Company never adequately explained why the wanted the hugh increase in authorized shares. This lack of communication with the shareholders has been a problem with CCO as long as I can remember.