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

To: Geoffrey who wrote (500)	11/21/1997 10:42:00 PM
From: stanley new	Read Replies (1) \| Respond to of 866

Geoffrey---If we do not see signs of drilling coming soon, then I will have to wonder if the objective is to have the stock price go up and down, up and down, up and down, etc... A lot of $$'s has been made and lost several times trading this stock, just wish I had realized that about a year and a half ago. Drilling and hitting oil/gas will certainly make me feel better. Company sure has been quiet recently....sn

To: Geoffrey who wrote (500)	11/22/1997 3:59:00 PM
From: Donald Lickman	Respond to of 866

Geoffrey, you are wrong. Each well drilled is very different and so is the cost associated. Factors lick depth, remoteness, mobilization costs, operator, rig day rate etc. International wells for $1 to $1.5 M is considered the low end of the spectrum in most frontier areas and particularly offshore can run upwards of $8 M It appears that if INDX wants to drill as aggressively as they state then they will obviously need to bring in additional partners to fund the drilling (as they did with Boral Energy) in return for an interest in the venture. Very common practise for juniors. INDX has some spectacular targets and I hope they make a world-class discovery. (this is because I am Long shares) I live in hope.

To: Geoffrey who wrote (500)	11/22/1997 4:21:00 PM
From: Tami	Read Replies (1) \| Respond to of 866

Sorry about the delay in responding to your question. I was shifting from one side of the country to the other. Earlier this year I had called and spoken to the female that was handling PR. Among the questions that I had ask, the most obvious being-"Why they were taking on so many partners?", the response was the cost of drilling was high and by negotiating deals with other companies that were willing to absorb that expense in exchange for a share it allowed them more exploration. There was further comment about the time required to establish the best site and coordinating the process. That was in connection to the last drilling. However, it seems consistant with the greater number of partners in each permit. Sorry this is not more presise. I haven't been paying as much attention to Indo as I have some other stocks that I hold. Not real happy with it right now. I will try to check back through my papers and see if I am able to find something that is more specific.