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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (36100)	8/27/2004 9:07:58 AM
From: Art Bechhoefer	Read Replies (2) \| Respond to of 36161

Frank, yes, I'm patient (always looking for a long term capital gain rather than a short term spike), provided that the company shows evidence of decent management and reasonably good reserves. One of the weaknesses in this company is that they may continue a policy of issuing new shares to cover operations and/or royalty agreements, thereby diluting earnings per share. But this would be overcome if their drilling operations lead to new production. Art