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Gold/Mining/Energy : Indo-Pacific Energy Ltd. (INDX) -- Ignore unavailable to you. Want to Upgrade?

To: Tami who wrote (498)	11/16/1997 11:45:00 PM
From: Donald Lickman	Read Replies (1) \| Respond to of 866

New York Times recently had an article entitled: Oil, Oil Everywhere - But No Rigs. It is a well known fact that rigs are hard to get internationally. Hope this market firms back up. Went Long at $4.00 and was a bad call. Licky Diggler

To: Tami who wrote (498)	11/21/1997 7:47:00 PM
From: Geoffrey	Read Replies (3) \| Respond to of 866

Are you saying that the PR person at Indo Pacific is saying that it is the cost of drilling that is reason for the delay in drilling? My understanding is that it costs $1 million to $1.5 million per each drilling site. It would seem that this is true because Indo spent only $100,000 for a ten percent add-on interest in a recent drilling project that was managed by another company. If funding for drilling is a problem then Indo can always go to Franco Nevada (ticker symbol FNMCF) for funding. Franco Nevada provides funds for a royalty on all production. See my posting number 475. If the cost of doing seismic studies is to expensive then Indo Pacific can go to Seitel, Inc. Seitel (ticker symbol SEI) does joint venture seismic analysis for the oil industry. They do the geophysical research not only on a cash basis, but they will also do it strictly on a joint venture basis as well. Additionally, if the PR person at Indo Pacific told you that the expense of drilling was the actual problem then what did she tell you that they were doing with the $14 million (Canadian) in the bank with? It would be interesting if you could recall the exact words that the PR person stated.