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Gold/Mining/Energy : Amalgamated Explorations (AXPL) thread 2 -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Williams who wrote (153)	11/7/1997 4:57:00 PM
From: Jaidev Sharma	Read Replies (1) \| Respond to of 269

Jeff: I talked to Jon Vaux and following is what I got out of my talk: -------------------------------------------------------------------- Cave Gulch Area: - They estimate (conservatively) $42 million worth of oil there at least (42 Billion cu ft). The company has currently 3.6 million shares outstanding. - their percentages in the wells they are drilling are less, but they need to build up their cash reserves before they can invest more in their drilling. In the other 160 acres that they own (forget the name though), they are trying to raise drilling funds. Finally, they hope to have a 25% stake in that area. They are trying to raise funds for several wells. There are a lot of factors which can determine when drilling starts, such as, EPA- it can hold production as it did in the cave gulch area from Aug 1994 to Aug 1997. Fund raising for drilling- because of the high cost, several companies have to join together. even availability of rigs- currently there is a dearth of rigs. ---------------------------------------------------------------- Anyway, currently the following things could affect the stock price: - they are auditing their accounts so that they can bring out the company financials, which could happen as soon as several weeks. The publication of company financials will allow brokers to recommend the company stock to people. - they are trying to get certification for the Cave Gulch oil reserves (he mentioned some technical term for that). The bottom line is the production of oil which will make everyone rich. They believe that the company has the expertise to do well and in the long run (several years) feel that the stock will provide good value to sharholders. -------------------------------------------------------------------- My talk encourages me to do further resereach on their properties. Seems like a good investment opportunity at the current stock price. Jaidev.