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

To: MARIO PASQUA who wrote (4802)	11/7/1997 1:53:00 PM
From: MARIO PASQUA	Read Replies (1) \| Respond to of 11888

Off subject: This is a great link, NRTOIL. Hope no one gets offended. ;-)) ohmygoodness.com

To: MARIO PASQUA who wrote (4802)	11/7/1997 2:19:00 PM
From: CMon	Respond to of 11888

Of course I'm guessing. That's why I started the message with "My guess...". Got it? This guess is based on 1) The previous discount converts issued by AIPN 2) The press release stating that the converts are "convertible according to a set formula. However, if the company's stock exceeds $8.33/sh, the notes may be convertible ... at $6.25/shr". We're all guessing what the exact term are until they file an S-3, then we'll all know. Any problems with that?

To: MARIO PASQUA who wrote (4802)	11/11/1997 7:49:00 PM
From: CMon	Read Replies (2) \| Respond to of 11888

Mario: Response to your #4802: This from the recently filed 10Q (page 9) regarding the recent financing: "After six months, the notes may be converted at the lesser of (i) $6.25/share (ii) 85% of the Market price at conversion and (iii) the daily weighted-average sales price reported for the lowest five consecutive trading days during the 40 day period following the call date." What does this mean? That those who argue that this note is evidence that the "smart money", be it the Hunt's, Hunt Oil, or whomever, expect this stock to be above $8 either don't understand the financing or are hyping the stock. There is no way that the purchaser of this note loses except in a case where there is no market for AIPN shares when he converts. Granted, the deal came with warrants, and the lender would rather see the stock run to the moon. But they are winners no matter where the stock is six months from now. The "smart money" has taken a no lose position.