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Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: will3 who wrote (2604)	4/22/2001 3:02:04 PM
From: Edwin S. Fujinaka	Read Replies (1) \| Respond to of 4686

I believe that Chevron has drilled at their natural gas site 25 miles south of Pensacola. I think they are thinking of suing for over a billion dollars if they are denied the right to produce there. I'm not sure, but I think the other Eastern Gulf leases that are coming up for sale have not actually been drilled yet. The extent of the seismic studies may be the only basis for bidding. I don't know if they have more data than is available for Coastal Petroleum, but there does seem to be a pretty big difference in the estimates in favor of CCO <G>. It would stand to reason that more extensive seismic data would be available for the CCO leases since these are already owned by someone and other oil companies have done some preliminary exploration in the past (when technology was more primative) and some drilling has been done. There was an oil show by Mobil many years ago that was the subject of some litigation since Mobil kept it a secret from CCO.

To: will3 who wrote (2604)	4/22/2001 10:14:15 PM
From: MichaelLSharp	Read Replies (1) \| Respond to of 4686

Will, I am disappointed as well in the stock price. It is clear that CCO and the PR firm want to steer clear of mainstream media at the present time. I hope a favorable court ruling is their trigger for heightening the awareness of the prospect. The ruling should be clear cutin favor of CCO. I would suspect political posturing is slowing the process as has been done in the past. I hope, and all I can do is hope, that the conditions are as favorable as they are now at the time the ruling is handed down. If the conditions remain the same then the stock price should blow through the roof. We should continue to be patient. What the hell, why not buy some more on the dips. I wish I had around $.90-1.00. This stock has been the most stable in my portfolio over the last several months...Go figure. Mike