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

To: Bearcatbob who wrote (12953)	11/30/2000 6:36:59 PM
From: russet	Read Replies (1) \| Respond to of 15703

Is it Chevron that has the 25% royalty on ELH? If so could they back in and become the operator,...anyone seen the legal agreement between Chevron and PYR,...or whoever??

To: Bearcatbob who wrote (12953)	11/30/2000 6:55:28 PM
From: Robert McCullough	Respond to of 15703

If this well is the `boomer` it appears to be, the thinly traded JV`s current prices are no indication of what `takeout action` would finally be. A major accumulation of stock for control of any of them will be real expensive...

To: Bearcatbob who wrote (12953)	11/30/2000 9:01:02 PM
From: Enigma	Read Replies (1) \| Respond to of 15703

On the contrary - you always get a lot of talk about take-over prospects - it's the greatest market boosting device one can think of - but I stand by my contention - who would enter into a takeover bid for a player with say 5-7% of the play? All of the stocks would move more or less in unison -so to finish up with at least 51% of the play the bidder would have to pay the earth - and would have to deal with multiple boards, shareholder groups, etc. If BKP were the bidder it would run the risk of seeing it's stock languish or fall as the acquisitor - it would be strictly a no-win situation. Far more likely would be a bid by a major for the property interest - much simpler and more practical. The bid would be on the basis of operational control or nothing. Or 100% or nothing.