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Gold/Mining/Energy : TransAtlantic Petroleum Corp (TNP.U - was Profco) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Shugarue who wrote (48)	11/8/1997 7:20:00 AM
From: MUDMAN	Read Replies (1) \| Respond to of 270

Bill: When I spoke with Rick at PSO late Thursday NYC time I asked him this specific question: would a trading halt be put on the stock? His response was that if a release could be made after the market close on Friday (meaning news could be digested over the weekend) probably no trading halt would be in place on Monday at the open. However, if the news was to be released on Monday morning before the open there would probably be a trading halt. This was all under the assumption that definitive news would be known at the latest Monday morning. If I might ask...how reliable is your belief that oil has been discovered? Is the discovery a material one (maybe a stupid question but I'm a layman)? When you say "the stock will soar" what's your thinking in terms of price? Many thanks for keeping on top of this one. Mudman

To: Bill Shugarue who wrote (48)	11/8/1997 2:27:00 PM
From: bob bundy	Read Replies (1) \| Respond to of 270

We have known that the well is considered to be a good one for over a week. The company was logging as it was drilling. Word on the street is toal net pay of over 250 feet. But, it would seem to me that Monday is really no different than yesterday or Thursday unless they have test results. Casing and perfing is not really a material change since everyone already knows that they are drilling a well. The material change comes via test results and flow rates. Tuscany traded over 2 million and could not effectively break .40 and PFO got beaten down from 2.25. I think the market already believes it to be a good well - the question remains as to flow rates. If casing hasn't been completed and perfing hasn't taken place as of Monday morning there is no reason to halt the stock at all. Note: Trans Coastal- TCJ - has been halted for a couple of weeks. They have an interest in this well also and have not been able to benefit from all of the trading activity in the markets. Illiquidity - a terrible thing. Do you know whether casing has actually commenced? Would hope they trade Monday.