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To: JT who wrote (5600)	12/4/1997 11:52:00 AM
From: Laserbones	Read Replies (1) \| Respond to of 11888

I don't think a hostile entity would be able to get the shares needed. The co could issue more shares from its registered ceiling and defeat any attempt. I believe this to be the case but If I'm wrong I'm sure it will be pointed out.

To: JT who wrote (5600)	12/4/1997 12:08:00 PM
From: T-Lo Greens	Read Replies (2) \| Respond to of 11888

Re: JT's buyout question Maybe it's because there never was an offer for $1.2 billion made by Amoco as the rumors have stated. You are correct in assuming a major would just make a bid for the company rather than pay that much for part of the concession. I posed this same question to my contacts, who were astounded that such a figure can be seen as FACT just because certain "well-connected" people stated it was so. A more realistic amount was "suggested" to me by my contacts - $180 million. All these negotiations took place from 3-5 months ago. At that point in time WaveTech 3-D seismics had not commenced, and the only data available was from the Russian predecessors. Who here thinks any major would pay big bucks...I've got oceanside property in Arizona... I was in the AOL chat room last night and verbally attacked when I suggested the $1.2 billion never occurred. As all the readers on SI know, I've been a long-time staunch supporter of AIPN. Why would I want my company to go down further in price, especially when I bought in above the current market value? However I'm not going to fall victim to all this hype. People who think a major will pay that much to a small company are in for a rude awakening. People who think George Faris would turn down $1.2 billion must think he's an idiot. It's unfortunate when fantasy overtakes reality. Anyway I won't be sharing any more information with the people on AOL due to that experience. Best regards, GO AIPN! Tony

To: JT who wrote (5600)	12/4/1997 12:15:00 PM
From: Michael Dappert	Read Replies (1) \| Respond to of 11888

JT, If a hostile attempt at takeover was made wouldn't they have to buy the shares on the open market thus driving the price up. With the volatility aipn shows it would not take long to reach that $15-20 per share figure. I would think any buyout would be done by negotiation in the board room so the buyer new what they had to pay? Just speculation of course. MD

To: JT who wrote (5600)	12/4/1997 2:03:00 PM
From: Sycamore	Read Replies (1) \| Respond to of 11888

JT, Please see below, it explains why a buyout scenario is unlikely at this point. Additionally, this is just my opinion (you can look at my previous 2 posts on the subject) I think that the no matter how accurate we say the Russian seismic data is, the market doesn't trust it. Plain and simple. It needs further confirmation by a much more reliable firm that the market knows and trust such as Wavetech. Once the estimate confirms that the claim is valid and there is a likelihood of a JV following soon, I'll be looking for the share price to move higher to the mid teens to twenties. To: +Sycamore (5428 ) From: +NoMoney Thursday, Nov 27 1997 9:55PM EST Reply # of 5611 AIPN has 100,000,000 shares authorized and not quite half are issued. It would not be possible for someone to attempt a hostile takeover successfully. As the company will remain the major shareholder with the unissued 52,000,000 or so shares. Peace, NoMoney