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

To: Howard C. who wrote (2659)	5/1/2001 2:30:56 PM
From: Edwin S. Fujinaka	Respond to of 4686

Shareholders get run over all the time by clever people who can read the Company bylaws. I believe the Company is already on notice that legal action by shareholders is a distinct possibility, if not almost a certainty if our interests are totally ignored. Hopefully the arguments will revolve around whether we should be getting $20/share or $100/share. I think that there could be arguments about the value of retained interests in the leases after a cash settlement. My original suggestion for a settlement that would involve a modest up front cash payment ($500 million) and yearly payments (increasing every year) starting at $50 million would probably not interest the lawyers and others who would prefer an all cash settlement to maximize their own returns. I agree with that Editorial that called the Coastal Petroleum Leases "money in the bank."