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Gold/Mining/Energy : ABC - Abacan Resources, Nigerian Oil $$$ -- Ignore unavailable to you. Want to Upgrade?

To: Arktic who wrote (3135)	3/1/2000 4:05:00 PM
From: Craig Lawler	Read Replies (3) \| Respond to of 3156

Foxy and Craig Painful. I just went to the accountant today and showed him my losses for ABACF and HEC. He was impressed that someone could lose so much $$. Since I still have 35K shares for ABACF I would appreciate your help on something. Why is the stock going up on big volume today and should I just dump now or wait until I achieve better losses (lol) when it finally goes to zero? Is it going up because the break up value is higher then the current stock price? Thanks for your opinions over the last few years.

To: Arktic who wrote (3135)	3/4/2000 12:37:00 PM
From: FoxyLoxy	Respond to of 3156

Mr. Craig, Without being too specific, I believe oil and gas firms that have shown the ability to post good/great results without the infusion of capital (fewer than most believe) are the ones to acquire. There is virtually no capital available, and certainly none for those who need it most. The buy-side believes that there is plenty of internal capital available (ie. earnings) and that if a company cannot post good earnings during record commodity prices, why invest in them at all. They are right. Look for good EARNINGS, not just cash flow. Companies that show a return on capital invested. The "independents" is a great starting point. Ones that have performed poorly in the market, but have great earnings and predictable production. They will scream "under valued". Assume a $19-20 WTI when doing long-term valuations - that is the average price over the last 20 years.......amazing isn't it. Write that book and make more money than you lost. You are a terrific writer. As always, my best regards. FoxyLoxy (How are your girls doing?)