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Gold/Mining/Energy : Teton Petroleum (TTPT) -- Russian Oil -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (8)	3/30/2002 4:58:15 PM
From: Ed Ajootian	Read Replies (1) \| Respond to of 115

Crossy, I suppose it doesn't matter all that much how you do the calculation. You are on the right track the way you do are doing it, except I would use "enterprise value" in place of market cap. That is, add debt to the market cap. I technically should do this for my calculation also, but I did not bother for TTPT since they do not have all that much debt, and in any event I rounded up in using the number of shares outstanding anyway. My buying Fortune is not based on its current situation but rather on the very exciting play they are about to get into, which was announced on Feb. 20. I attended a presentation where they were trying to sell convertible debt to finance this project and I passed on buying any of that debt because it is convertible at the whopping price of $.75 a share. Then I hear from my buddy that the offering is actually going pretty well and they will likely be able to sell at least the minimum amount needed to close the offering. So I believe the stock is undervalued given the high likelihood that they will be soon raising funds to get into their next play. I looked at TNT and it's "dynamite"! (Heh-heh, couldn't resist). I may buy a little but I could never take a significant position in a company that is effectively controlled by a Russian state.