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Gold/Mining/Energy : Solv Ex (SOLVD) -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (5006)	11/4/1997 1:46:00 PM
From: JJB	Read Replies (1) \| Respond to of 6735

Tonta Any new opinion will be available sometime after 10:30 am mst bankruptcy hearing. What is your opinion of not closing a short posotion at this level? Do you think Asensio et al would notify if they were? jjb

To: tonto who wrote (5006)	11/4/1997 1:58:00 PM
From: norwalk hawk	Respond to of 6735

I received a letter from the US Bankruptcy Court today which was for "Notice of Objection of the Unsecured Creditors Committee to Debtor's motion for authority to sell property of the estate (to Geopetrol Resources Ltd.) free and clear of liens and interests and request to court to approve better offer". This is a motion to let us take Koch's offer and to get out of paying Geopetrol $3 million break-up fee. It goes into a little detail and tells why the Koch offer is better than the Geopetrol offer. I found this statement very interesting- "Koch offers to pay approximately US$22.6 million for 78% of Crown Leases Nos. 5 and 52, together with the plant on Lease No. 5 , and the Ruth Lake lease, and the Debtor's technology (Koch also requires delivery to it of warrants for $2 million of the Debtors stock). It seems that they are interested in our technology. My concern is now are they just buying our technology for these sites in Canada or will they own the technology for any where it might be used? I don't mind letting them use it for free in our partnership plant but I will be quite concerned if we do not have the rights to lease to other producers in the future. Mike