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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF) -- Ignore unavailable to you. Want to Upgrade?

To: BillyJoe McCallister who wrote (7408)	12/10/1997 3:39:00 PM
From: Friend	Read Replies (1) \| Respond to of 9164

I have been lurking on this stock for a while. What do people know about the management. All I know is that Alexander was a bad cookie. Lutfur doesn't seem to have a background in oil and gas. I wonder how a guy like him could have got the rights to the Sudan project in the first place. I know that when he rolled over State into Arakis he got 6 million shares which he showed as 6 seperate payments of 1million shares to different shell corporations. I assume that this way, he would not have to show/report sales when selling his shares through these other offshore holding co's. I wonder how many shares he sold when Arakis was flying to $26 a couple of years ago. Given this history, I am reluctant to invest in a company that has such poor management. Any thoughts?

To: BillyJoe McCallister who wrote (7408)	12/11/1997 4:19:00 AM
From: Edward M. Zettlemoyer	Respond to of 9164

Vincent, <four dollars sounds good to me> I have stated that I would hold out for $10-12 in a take-over attempt. I would however, follow the momentum and could bail out much earlier if necessary. Perhaps I am overly optimistic at a time like this but would like to offer my reasoning. The way I see it, anyone interested in a take-over bid will wait for one - the terms of the pipeline construction and two - the terms of the capex budget. At that time I feel the stage will be set for a take-over bid and if the two items I mentioned have somewhat satisfactory terms then the price of AKSEF should be building some good momentum. Ed