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

To: Howard C. who wrote (1157)	12/1/1999 12:26:00 AM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 4686

Newt seems to do OK in the female department. I hope you do as well <G>. As far as CCO is concerned, I suppose that most people who don't keep up with the details (like us here) just look at the price pattern and figure it's more of the same-o same-o. This means an occasional runup and then sinking back into the muck, around $1. My opinion is that the situation is actually different this time. The Courts appear to be conceding that prevention of drilling is an effective "taking" under the condemnation laws and that "just compensation" needs to be paid to CCO by the State if they really want to prevent drilling and/or any development of the Coastal Petroleum leases. This outcome was always available to the State in a straightforward way without all of the rhetoric and dicking around. Apart from technical delaying tactics, all that remains is the formal appraisal of value. I am almost content to let the Court case play out to the end to see what an appraiser has to say. The closer it gets to the end in Court, the less bargaining power the State has. The State should settle soon or we may as well wait for the end game.