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

To: June who wrote (3144)	3/18/2000 3:31:00 PM
From: suncasper	Read Replies (1) \| Respond to of 3156

You can sell your ABC shares on Nasdaq under ABACF - that's what I did - no problem. ABACF closed at .07 US$ which is about .10 CAN$. Abacan has filed for bankruptcy and the Directors have all re-signed but the stock still trades. The TSE imposed the cease trade in Canada because of o/s filing requirements. The reason the price has gone up in the US is because a position trader has purchased a million shares on the hope that there will be some kind of re-organization and Abacan will rise again. Check the Phantom board on Raging Bull as the REALPHANTOM2 (this position trader calls himself) has a very large following. There you have it - sell or takes your chances with the Phantom. He argues that for every 12 companies that file for bankruptcy he only needs 1 to survive to come out ahead when buying 1 million shares at bargain basement prices. SC