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Microcap & Penny Stocks : VLVT (was CSMA) -- Ignore unavailable to you. Want to Upgrade?

To: YOYO who wrote (3171)	12/10/1997 12:49:00 AM
From: David Smith	Read Replies (2) \| Respond to of 11708

ERHC Recent announcements of huge oil finds in the tract just recently sold to them by CSMA probably indicates a mistake by CSMA management. No, it wasn't a mistake. This sale allowed the company to pursue the disposal well. Additionally, the development was going to be a joint venture which didn't pan out. The company did very well considering that they are not developing it. David

To: YOYO who wrote (3171)	12/10/1997 2:11:00 AM
From: TraderGreg	Read Replies (1) \| Respond to of 11708

Excellent commentary by your friend YoYo. I would only comment on one issue: sale of Uinta. Even with a gazillion barrels of oil under there, it wouldn't do the company much good if they couldn't exploit it in a timely fashion. In the meantime, it was a cash drain and selling it eliminated that problem plus allowed them to maintain a risk free interest in the form of the 495K shares of ERHC stock plus recover stock plus pursue other areas like COG and LPS. Present Value analysis--name of the game. TG