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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Salt'n'Peppa who wrote (12058)	9/29/2000 2:07:36 AM
From: Brumell	Respond to of 15703

Think you have the KOB situation right, S&P. Don't think anyone can criticize. It's not a cheap PP intended to benefit insiders. It could have been written at a lower price and stayed within the rules. As you suggest, the company needs the money for ongoing commitments at ELH. Only beef I have is in laying in a bit more recently and chuckling at the thought of buying at a better price than the insider crowd. Guess they were reading my mind...<ggg>. ________________________________________ Regarding Westminster!!! Has anyone any thoughts or doubts about the sale closing?? If the sale closes, it's reported they'll have $22 million remaining and be debt free. However, $8.5 million is designated flow through. Should that be deducted from the $22 million. Lastly, will they retain that $22 million or will it be eroded by other costs such as employee severance, lease terminations, etc, etc. In other words, how quickly can they cut the monthly nut and how much can we expect will actually be retained for ELH development costs. Comments will be appreciated!! Bob