Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: MARIO PASQUA who wrote (4634)	11/4/1997 6:10:00 PM
From: NoMoney	Read Replies (1) \| Respond to of 11888

AIPN Related news release FYI !!! Mercantile Announces Acquisition Of Rio Bravo S.A. And Recent Drilling Results From Colombia NASSAU, Bahamas, Nov. 4 /CNW/ - Mercantile International Petroleum Inc. today announced that it has completed (on substantially the same terms as previously announced) the acquisition of CIA Petrolera Rio Bravo S.A., a Peruvian company which owned a 50% interest in Block IV in the Talara Basin of Peru. The company also announced today that it's current total gross production from its Peruvian and Colombian assets is expected to be approximately 3,700 bpd after completion of one well which has recently been deepened. The acquisition of Rio Bravo in conjunction with the prior purchase of a 50% interest in Block IV from American International Petroleum Corporation consolidates Mercantile's position in the Talara basin. Approximately 350 wells have been drilled on Block IV by various operators, 83 of which are on production. Existing Block IV production of approximately 550 bpd brings Mercantile's current net production in Peru to approximately 2200 bpd. With it's 100% interest in Block III, Mercantile now controls approximately 164,000 acres nearly doubling its previous acreage and making it the owner of the largest onshore developable land base in the area. Mercantile has also been active in Colombia since acquiring the operations of American International Petroleum Corporation in February. Mercantile has purchased the Totare and Gaubina fields, drilled three new shallow wells and deepened two wells in the Toqui-Toqui field while recompleting a well in Puli, all of which has added approximately 800 bpd of gross incremental production in Colombia. The Puli well, which was completed in a new more shallow horizon, added 125 bpd and the potential for a new oil pool in the upper Monseratte zone for the Puli field. The Totare field is 12,300 acres nearly adjacent to Toqui-Toqui which is currently producing approximately 100 bpd and has a number of shallow development prospects. The Gaubina field is 47,700 acres with considerable exploration potential in the Doima, Chicoral and lower Villetta formations. Upon completion of one deepening, gross production in Columbia is expected to be approximately 1500 bpd which would equate to a net production of approximately 1060 bpd. Mercantile's interest in certain of its wells is subject to back-in rights of Ecopetrol (the government oil company) and Mercantile's partner Petroleros del Norte (after payment of their pro-rata share of costs) after Mercantile has recovered 100% (or in certain circumstances 200%) of its costs thus resulting in lower net production to Mercantile if such rights are exercised. As a result of the Rio Bravo Block IV acquisition, the rehabilitation work on Block III in Peru and the drilling and acquisition activities in Columbia, Mercantile's total gross production stands at 3,700 bpd which would bring its total current net production, before the possible future exercise of back-in rights following payout, to 3,260 bpd. Mercantile is an ''oil exploitation company'' with operations in Peru, Columbia and Myanmar, which continues to look for international on-shore properties where the application of leading edge technologies will allow the company to recover more oil. Mercantile's common shares are listed on the TSE and trade in U.S. dollars under the symbol MPT.U. Peace, NoMoney

To: MARIO PASQUA who wrote (4634)	11/4/1997 6:54:00 PM
From: taxikid	Read Replies (2) \| Respond to of 11888

but those guys don't have a hook to the pipeline or chevron or CEO old boy network required to make deals- HELLO- forget "credentials" and think about the market- and negotiation- ceos deal w/ each other. taxi

To: MARIO PASQUA who wrote (4634)	11/4/1997 7:39:00 PM
From: Sycamore	Read Replies (2) \| Respond to of 11888

Mario, The number of bulls on AIPN is obviously decreasing. I wonder whether it's a positive sign or not. But, since very few people make real money in the market, while many of us loose our shirts that's probably a good precursor of what lies ahead. I think it goes with the saying that when bad news hits Wall Street the "SMART MONEY BUYS while the SCARED MONEY SELLS." Meantime, I've heard that brokerage firms that follow the stock very very closely are actively buying more shares during the last few days to increase their AIPN inventory. That's a very positive sign. From today's closing price, the only risk that I see on my investment on this stock is for it to earn a meager 40-50% in the next 60 days. With regards to the announcements today concerning personnel changes, I see that as a positive as well. Three good heads is certainly better than one. Their varied and well rounded experiences in their respective areas of expertise can't hurt. From here, it's getting pretty obvious that the dynamics of the deal is changing. It's definitely getting better. Let's see if we can get some positive news tomorrow. How about a January bulls party when this is all over or say when the stock hits $15-20.00? sycamore