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Gold/Mining/Energy : OEL.V Osprey Energy Limited -- Ignore unavailable to you. Want to Upgrade?

To: mappingworld who wrote (305)	7/6/2000 5:54:15 PM
From: The Osprey	Read Replies (1) \| Respond to of 1134

Well people this is a significant news release.The thing that intrigues me and pleases me the most is this part of the news release "Subject to regulatory approval, the company is granting 434,000 corporate stock options, exercisable at $1 per share, for a 12-month period. Shareholder approval for the option grant was obtained at the company's annual general meeting in December of 1999." The reason I say it pleases me is because they could have set them at 20% below the last 10 days trading average but they didn't.They set them ahead of to-days close price of .87. This says something if we read between the lines. This is also significant"the company has received final approval from the Canadian Venture Exchange for the $1.5-million convertible debenture and the $850,000 private placement, as previously announced." What a lot of people do not realize is until the exchange grants final approval of financing and has reviewed it thouroughly the company has to maintain it in a trust account and cannot utilize it until the exchange approves it.Then the deals can be finalized.The 1.5 million debenture and the $850,000.00 just added 2.3 million to they coffers to finalize deals and move forward.Things should happen quite fast now. This part is nice as well"It has also received approval to proceed with the acquisition of the working interest in the Bayou Choctaw project and conditional approval on the northern Louisiana acquisition." I expect the Bayou Choctau deal is done but because of exchange approval requirements nothing has been finalized.I expect this should happen quickly with financing approved and exchange approval.What intrigues me is the Northern Louisiana.They have preliminary approval for a deal in Northern Louisiana and we know nothing as yet.Either the exchange has asked for more info or this must be a very big deal for Osprey and they want all the approvals before they announce it.It sure has me waiting with baited breath.To-morrow should prove somewhat interesting. I will suggest once again with options at 1.00 and financing at 1.00 as well as debenture conversion at 1.00 that this stock is going much higher and anything under 1.25 should be a steal. The Osprey