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

To: stanley new who wrote (569)	12/6/1997 3:13:00 PM
From: Donald Lickman	Respond to of 866

I think a deal with a major is just around the corner. INDX is holding ALL the cards in NZ. That Mangahewa discovery is a HUGE onshore discovery and the best part it's not in the middle of a place where you get eaten. THIS HAS KICKED-OFF A FRENZY OF INTEREST IN THE COUNTRY. Shell does not move back-in the basin just for licks. Something is going on behind the scene. I'll put money on it. Let the elephant hunt begin. Good to have you back Stanley. Hope you got out of UP on time. Regards Licky Diggler PS- I too own much more of the other one and continue to buy.

To: stanley new who wrote (569)	12/7/1997 3:20:00 PM
From: Bruce	Read Replies (2) \| Respond to of 866

SN & Others, Just for the record I hold no shares in INDX or TEPUF, no short positions and I don't ever intend to have positions in these stocks. WHY? I did 10.5 years of university education in NZ majoring in geology down there. I got a real Hype flyer from INDX in the mail about 2 weeks ago where they were comparing their new license in the Canterbury Basin by Christchurch in the South Island to the the sourthern Calf. coast in the San Diego/LA basin. NZ will never have large scale oil and gas deposits compared to the continental areas of the world. All of the supposedly favorable sedimentary deposits in NZ are tertiary in age (<60 Million years old). All major oil fields are in sedimetary deposits either Mesozoic (Cretacious, Juriassic, Triassic) or Palaeozoic (Permian, Carboniferious, Silurinan, Ordovician, Cambrain) Most oil and gas deposits were formed in shallow seas in an anaerobic (withoud oxygen) environment with high biological productivity over tens to 100's of million of years with the gradual scnking of rich organic deposits to great depths (10,000+feet) with increasing temperature and pressure over 10's to 100's of million of years of time. This produced the oil and natural gas. NZ geology is just the opposite of all this. All sedimentary depositional basins are < 60 Million years old filling great geosymnclinal trenches 10.000 to 50.000 ft deep by large slumps of turbites sediments that would avalanche into these great geosynclinal trenches settling out as what New Zealanders call greywackes which are alternating bands of first sandstones, then siltstones then mudstones (per slump). In this type of depositional environment there was little time for any carbon production by plants and animals precursor required for oil, gas and coal formation) pryer to slumping into the geosynclinal trench. So NZ sedimentary deposits are extremely carbon poor, and NZ is techtonincally one of the most active locations in the world. This means that all geological features are small scale going up and down in very short linear distances. This means there are no large scale sedimentary depositional basins in NZ and therefore large hydrocarbon trap reservoirs are going to be small in scale. At the present time there is so little natural gas in NZ that only some 20% to 30% of the North Island cars are running on CNG (compressed natural gas). NZ does not have enough natural gas (methane) to run the South Island car fleet on CNG and so these cars run on propane. I was down in NZ in the 1960's & early '70's and there was much offshore and on shore drilling then. The only fields they found in NZ was the land based Kapuni field and the offshore Mauri Field in the Taranaki Provence. In some 30 years of drilling since little else has been discovered. If another gas fiield is found in NZ it will be darn lucky to have several hundred billion cu ft of gas with only about 20% of this recoverable (extractable). Compare this to the Wyoming Green River Basin where the US Geological Survey estimates in the Pinedale Anticline alone (one small part of the overall basin) there is an estimate 160 trillion cu ft of gas. In was inexcuseabe for INDX to compare the NZ Canterbury Basin potential equivalent to the Southern Calf. basin. It is like comparing chalk to cheese. There are no oil weeps, tar pits in the Canterbury basin while there is surface evidence of oil deposits all over Southern Calf. Good luck in your investments..... Bruce