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Gold/Mining/Energy : Adda Resources -- Ignore unavailable to you. Want to Upgrade?

To: Harry who wrote (527)	12/20/1999 10:30:00 PM
From: lostmymoney	Respond to of 571

Yea Harry, they have no money, just like us! And nothing to offer, I am surprised it holds at .02. Let me see, canadian thats what? .05 :) hehehehe

To: Harry who wrote (527)	12/21/1999 11:10:00 AM
From: LowtherAcademy	Read Replies (1) \| Respond to of 571

Hello Harry, Just a few thoughts on Adda. These will be a little slopy, as I'm just shooting from the hip, so if you disagree with the specifics of my statements and and see the thinking behind the general direction I'm heading.....don't shoot the author. LOL. I believe that UP has played us false for a very long time now. Whether or not this was their intention in originally entering into the farmouts I have no way of knowing. David Finn has done yoeman work at trying to get a settlement with UP. I believe that the proper paperwork to support all of our claims against UP on the Daniel, Cottonwood and Luman has been delivered to UP on more than one occassion. Unfortunately UP knows that ADDA is broke. And is acting like a bully in their dealings with us. I believe that we are trying to at least get things settled with UP so that we can walk away from them. Personally, if ADDA had some revenues left, I'd say be more aggressive with UP via the legal system, but, that doesn't seem to be in the cards. Yes, Adda and the rest of the Fort Stockton partners believe that they hold all the cards in their suit with Weatherford. The court date is now schedulled for June. Whether or not it will have a delay is unknown. Obviously it is in Weatherford's interest to delay forever and in our interest to have a speedy trial. I believe that was the primary reason that the suit was filed in West Pecos county--to try and short circut any extented legal maneuvers by Weatherford. Since the stock is worth less than lunch money, I can see no particular reason to sell, other than tax losses. Since I managed to take care of that for the year with AOW (thanks to Mr. Jarvis and Hislop), I'll just hold until hell freezes or I need more losses. I believe that the company, as a shell has an intrinsic value of .10. Personally, I don't know this to be true, just I've been told this by several different friends.