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To: Sycamore who wrote (5173)	11/20/1997 8:59:00 AM
From: Sycamore	Respond to of 11888

Subject: Conversation with Gary/Millennium Date: Wed, Nov 19, 1997 23:32 EST From: UNC 1984 Message-id: <19971120043201.XAA20180@ladder01.news.aol.com> Talked to Gary S. at Millennium this afternoon.he contacted me after I faxed my post to him.had a 30 minute conversation.this was the first time that I had ever talked directly to him and only the second time talking to Millennium.he said he wouldn't respond to any of our comments on the internet.done it before and he doesn't feel its something his company should engage in ..He stated several times, however, that his phone is available for people to call anytime. Here are some excerpts from our conversation: Re: News releases within Mill: Gary said he's signed a confidentiality agmt with AIPN the size of a NY City phone book.he will get a draft of a release from George and he can't share it with his staff or anybody else until he gets a signed final version from George.Many drafts end up in the trash can.Before a release goes out these two discuss the ramifications.sometimes releases are trashed that may adversely impact their negotiating position. He stated that George is shareholder return driven, despite a willingness to inform, sometimes its in shareholders' best interest for the company to not make the info public knowledge. Re: the article in the WSJ, he said that his comments to Pope were over a month ago....stock was considerably higher at the time, and he said that the stock has made many people rich.on paper.No truth to the rumors that these people cashed out at $7.00. He has advised no one to sell any AIPN. Certainly some may have sold, but to his knowledge, there has been very little selling. He and his company own 250,000+ shares and have no intention of selling. He said while many early investors are now rich, many more will become rich in the future..in his opinion he thinks this stock has more potential than almost any other stock out there today. Re: Woody.Woody has personal reasons which make it necessary for him to stay in US, while we discussed this a little, out of respect for a person's private life, I'll leave the details out of this board. He confirmed that he is on board as a consultant. He did say, that while the new guys in Kazak aren't Woody, they know the area and will be very effective. Re: Dog and Pony..Gary said that he and George have heard numerous comments such as "if we'd only known" by some major money people. managers, brokers, institutional buyers, etc. Without anything really concrete to tell this audience, they've chosen to wait..He stated that they will have much more concrete info to share with this audience by the time the dog and pony shows roll around. Re: PA.He stated that if he knew he couldn't tell me, so he'd just not comment. He confirmed that a good friend and very reliable source called and told him that he'd read about the PA in a Kazak newspaper. Didn't get name, edition, etc. He also confirmed that George and one or both of the new Kazak hires were in Washington today. Re: JV talks.said initially sat down with one group and gave them 1st right of refusal and signed agreement to talk with them solely for a certain period of time. Contracts were delivered, reviewed, and during this time several other parties showed tremendous interest.. however, they couldn't talk due to the contractual obligations to the initial suitor. The final agreement was very good from the initial party, however, George felt that he could get a better deal by opening up the bidding to others..So after the expiration of the initial agreement, they "Resumed Negotiations" with several potential industry partners. Learned his lesson not to lock-in to one suitor going forward. Re: Wavetech..they are working round the clock.still a lot of work to be done, but they have stated that the Russian data is very accurate, but they use less of a discount than US firms..1.1 billion barrels based on 85% discount. This number of unproven reserves is based on 7 structures in the western part of the concesssion. He made a comment that it is believed that the "Chikuduk" structure (eastern part of concession) could be bigger than all the others combined. He stated that in Kazak it is commonly believed that Chikuduk could be the next "Tengiz" field. I failed to ask if Wavetech is analyzing all the concession or just the western structures. Re: Nine figure financing.."no need for it at this time".best of his knowledge there's no such negotiations going on. He did say that the $10 million from the Hunts was to show an ability to raise cash and better position the company during the negotiations process. Re: being tightlipped. His comment was that some shareholders who call him seem to know more than he does sometimes. He stated that he can only divulge that which is legal. He commends all for our diligent research and wishes all shareholders had the fervor for due diligence that the AIPN'ers do. Gary was very open with the general facts, but very conscious of his boundaries as to what he could divulge and what he couldn't. He genuinely was excited about the company and was more than willing to answer all of my questions which were general in nature. He told me that anybody is invited to call him directly, if you don't catch him, he will return every message just as soon as time permits.He currently had a stack of messages about a "half-inch thick" on his desk to return. Things I didn't ask include whether he expects the PA and JV announcement to come simultaneously, or at different times. Whether a JV would contain one acquiring partner or multiple partners as was the case with other PA/JV announcements re: Kazak/Caspian region the past couple of days. Obviously, I am nowhere as knowledgeable as some of the other posters to this board. Therefore, my questions weren't as delving, and much less threatening. I appreciate the depths at which others go in their due diligence to put all the pieces to this puzzle together. The point to be gained is that no matter which source, the more info people know, the more they are positive about the future. Obviously Gary knows what's going on, whether he admits it or not, and he nor George would subject themselves to open humiliation or frustrated institutional holders if something very positive wasn't going to take place between now and the dog and pony shows. He all but said that. As Faris has been saying all along, we need to think BIG. Long and Accumulating Unc1984

To: Sycamore who wrote (5173)	11/20/1997 9:18:00 PM
From: qdog	Read Replies (2) \| Respond to of 11888

Did I predict a collapse? Did I make some money on the downside? Doom and gloom is in the eye of the beholder. Are the troubles in Asia and South American over? Don't think that those two will have an impact on certain companies earnings in the future as far as the US market is concern? That's for you to decide. Frankly, IMO the troubles in Asia aren't over. As to how it affects the US markets in the next year, there is some reason to suggest that it will have an affect. Did I buy the next day after the +500 down day. Yep. Did I cash in on those shares, some. Did I buy put's after that 300 pt rally? You betcha and sold them for a profit. Am I impressd by the rally of the past few days, not really. I made money in some of my investments, some haven't faired as well. Do I have a predicition for tomorrow? Only one, we'll all be a day older. As to AIPN; well the more intelligent have been telling us that anyday (for the last month) the agreement will be signed. Friday is the NEW day for that occurance. I guess they aren't any good at predicting the future than you or I. Will it happen? Gee, I've own this company's stock since '92........................