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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 (102)	11/13/1997 7:56:00 PM
From: MUDMAN	Read Replies (1) \| Respond to of 270

Bill and Bob: First, thanks for a great running dialogue on the PSO play. I have only been an active S.I. member for a couple weeks but what's going on here on this thread is exactly why I joined. Please keep it up! Bill, do you know if other jr oil/gas plays also trade at discounts to NAV? Also do you know what makes up NAV? In any event, being a PSO shareholder since January 1996 (yes...if things work out I'm in the 18% US cap gains bracket!) I remember when PSO was drilling the two wildcat plays in Nigeria in the fall of 1996. If I remember correctly, the two weeks before the results were announced the stock traded well. Then, a few days BEFORE the negative results were announced, the stock got hammered. Once the news was released, the stocks got whacked even more. I think both of you are correct saying that the action before the release will be interesting and will probably give us the ultimate direction PSO is going once news is released. The platform/rig workers will know before anyone how this thing is shaping up. MUDMAN

To: Bill Shugarue who wrote (102)	11/14/1997 9:34:00 AM
From: bob bundy	Respond to of 270

PSO-T : Trans Coatal Share Purchase Agreement With BBFI Benin and Profco Symbol: PSO U/POFRF 14Nov97 Market News Publishing Inc. 97/11/14 No:0005 TRANS COASTAL INDUSTRIES INC ("TCJ-Y") PROfCO RESOURCES LTD ("PSO-T;POFRF-L") - Trans Coatal Share Purchase Agreement With BBFI Benin and Profco James Owen of Trans Coastal Industries Inc. (the "Corporation") announces that, subject to filing final materials with The Alberta Stock Exchange (the "Exchange"), the Exchange has accepted notice of two recently announced transactions, and has provided conditional approval for two previously announced private placements. The Corporation also announces that the shareholders have approved by special resolution a sale of the Corporation's interest in CB Research International Corporation. The Corporation has entered into a Share Purchase and Participation Agreement with BBFI Benin Ltd. and Profco Resources Ltd. pursuant to which the Corporation has agreed to acquire 7.5 percent of the issued and outstanding shares of Tarpon-Benin S.A., a company incorporated in the Republic of Benin. Profco, as operator, is currently drilling a well offshore Benin in which Tarpon-Benin S.A. is participating. On November 10, 1997, Profco announced that the well has been drilled to 9,060 feet total depth, that the well has been logged, sidewall cores obtained and that it was proceeding with casing the well to total depth and preparation for testing. The Corporation's share of drilling costs of this well is expected to be approximately $1,000,000. TEL: (604) 684-9201 Trans Coastal Industries Inc. James Owen ______________________________________ (c) Market News Publishing Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106 RapidFAX (tm) - To get the NEWS as it happens, call (604) 689-3041. Not sure when will be called back for trading.

To: Bill Shugarue who wrote (102)	11/14/1997 12:13:00 PM
From: Bill Shugarue	Respond to of 270

Here is the latest information available...... The well has been cased and the no problems have occured yet. Everything was checked to ensure that the cement was cured, etc. The next step will be to do a production test on the bottom two zones. That should be completed by Monday. The results of those two zones are expected to be released before the market opens Tuesday. They then plan to do production testing on the top zone. This should take another 2-3 days. We are now seeing the speculators starting to position themselves before the news is released.