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

To: Henry Volquardsen who wrote (1164)	12/6/1999 10:11:00 AM
From: Howard C.	Read Replies (2) \| Respond to of 4686

Everyone is entitled to an opinion. I happen to be a very strong "environmentalist" and my take, if this were "public" would be, hey, we should not drill and, therefore, make the settlement with a fair value appraised purchase. I don't think "environmentalists" are hostile to fair and legal settlements, especially when an obvious "taking" is involved. If the state didn't want drilling, it was the State's error in issuing a permit, not the licensees.

To: Henry Volquardsen who wrote (1164)	12/6/1999 12:53:00 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 4686

Henry,...I agree that CCO has done well to survive to this point in a legal/political environment as hostile as it has been. The State has been trying to destroy the company and even intervened with the SEC at one time to try to prevent the Company from issuing new shares. Certain private investors have saved the Company more than once (they did get in at a very favorable price, but at much risk.) The only reason to generate some publicity for the Company is to increase the stock price. As you say, publicity could energize the environmentalists and harden public attitudes against the Company. Perhaps a temporary stock price increase is not important in the long run. The case should be resolved based on professional appraisals of value. My recent focus has shifted from trying to generate publicity to trying to drum up support for my "delay in drilling" compromise. I was planning to try to contact officials of the State with my suggestions. The people at CCO do not even want me to do that so I am holding off for a final ruling by the Appeals Court. Even for the State to arrive at any settlement, they may need the cover of a potential big dollar liability in order to settle at anything approaching "just compensation". The settlement has to look like a relative bargain for the public to accept it. So there may be a tradeoff in generating publicity about a hugh dollar amount that could result from litigating to the bitter end and the energizing of the environmentalists.