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To: Chad Beemer who wrote (1790)1/6/1998 2:56:00 PM
From: Chad Beemer  Read Replies (1) | Respond to of 2378
 
Everyone,

I can confirm that they let Riverstone go as instability in Angola
and the fact they are more encouraged by what they have potentially
in the Congo led to this decision. This gives them one area to focus
in working with much better partners than they had in Angola as well.
Keep in mind that monies spent in Angola might still be recovered
depending on the outcome of their countersuit with Global. It appears
that Rick and Gordon Richards their geologist may leave next week for
the Congo and get started setting up things along with getting to the
properties. They have to obtain visas to get out of the capital as that country wants to know and keep track of who is coming in. Yes
Riverstone was a good property but these Congo properties are also much bigger and appear to contain more value to the company as based
on the Belgian records they have been able to obtain. NOw Richards
intends to substantiate those records.

Chad Beemer