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

To: andy harrison who wrote (1201)	12/28/1999 12:55:00 PM
From: Edwin S. Fujinaka	Respond to of 4686

I think the pressure is building amongst us shareholders to raise the level of the public discussion. CCO should get a formal estimate of value to determine our negotiating position for establishing "just compensation". Generate a BIG number and release it to the press. I am not talking about what we could sell the leases for. That figure would be clearly depressed because the Government of Florida has been trying to destroy the value of the leases by invoking roadblocks to development. The just compensation in a legal sense for purposes of condemnation proceedings will be much higher than the price that Coastal Petroleum could get by selling the leases. The $90 million paid to Miller Oil Co. for their measly 10.8 million barrels of oil in the ground is a case in point. Actually, CCO should get a dollar number, perhaps it won't be $100 billion <G>, but it might be ten billion or perhaps $20 billion. Who knows at this point? The bigger number the better. That might make the evening news (in Florida at least). Then we should sit back and let the State generate their number. Do it in public. After that, perhaps my proposed "deal" to delay drilling might pick up a little public backing.