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

To: Peter Berkman who wrote (7532)	12/31/1997 4:11:00 AM
From: Ken Reidy	Respond to of 9164

Does anybody know why OILYF jumped 60% today?!? Thanks in advance.

To: Peter Berkman who wrote (7532)	12/31/1997 5:37:00 PM
From: Razorbak	Read Replies (1) \| Respond to of 9164

Hi, Doc. Thanks for the kind remarks. I'm still lurking, and I do post occassionally, just not as frequently as before due to general time constraints. FYI, I tripled my stake in AKSEF a few weeks ago at 2 1/2. I'm now patiently awaiting news on a variety of fronts: overseas financing, pipeline construction contract award, new executive management, and further exploration drilling results. IMO, AKSEF is still a great value play, and especially at recent prices. The last well was a true gusher (>10 Kbpd), but was obviously overshadowed by other issues dogging the stock. Although I believe the company is still an attractive takeover target due to the intrinsic value of the concession's underlying reserves, the Shareholder Rights Plan Agreement that was ratified at the most shareholder meeting, if I remember correctly, places some pretty tight restrictions on the types of transactions available to interested suitors. For this reason, I've pretty much ruled out a "classic" hostile takeover, but a friendly (or semi-friendly) transaction is obviously still a viable alternative. FWIW, I still think Lundin will, in some way, end up controlling the company at the end of the day, but he may not own it outright. However, I've said this before, and I was obviously wrong on my timing (before the end of 1997). As Zeev would say, so much for the predictive ability of sages. <vbg> Speaking of Zeev, it's good to know that he's now back in the good graces of the Webmistress. Hang in there, Zeev. The Multi-Horned Table needs your continued presence. ;^) Happy New Year to all Arakis followers, both pro and con. May you all prosper financially in 1998. Regards, Razor