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

To: Michael Dappert who wrote (4732)	11/6/1997 11:57:00 AM
From: taxikid	Read Replies (1) \| Respond to of 11888

not to mince words- mike- the concession has not yet been "proved"{that oil is in worthwhile qty/form} but the concession is legal{thus an asset of sorts} it may be useful to have the cash to pay for the seismic/and or proof necc. to go further- all speculation here- if we KNEW what was to happen the stock price would not be here. regards taxi

To: Michael Dappert who wrote (4732)	11/6/1997 4:53:00 PM
From: CMon	Read Replies (5) \| Respond to of 11888

I don't read this as good news. A few weeks ago, everyone here was expecting an imminent announcement of a JV with a "major." Why would they issue yet another high coupon discount convert that diliutes the equity at least another 7% at this stock price (if this deal is like their previous discount converts). The Hunts interest is irrelevant, they make a clean profit on the discount when they convert and 14% in the menatime for the privelege. Who wouldn't lend on those terms? Bottom line: if a joint venture were around the corner, why would they raise funds on such onerous terms?