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To: Price and Value who wrote (789)	2/7/1998 4:30:00 AM
From: jmd	Read Replies (1) \| Respond to of 17683

CENTRAL PACIFIC MINERALS I am new to SI Investor but I follow CPMNY since a long time. CPMNY and its sister company SPPTY control about 25 bn barrels of shale oil along the coast of Queensland, Australia.Since these are small companies the amount of barrels of oil per share are staggering: 250 barrels per share for CPMNY and 100 barrels per share for SPPTY. In the spring of 1997 the company made a deal with Suncor of Canada (SU) to develop a field of 3 bn barrels. SU is very successful in developing oil sands in Canada (Syncrude controlled by GOU,IMO and CXY is also active in oil sands). Bechtel of California agreed to construct the pilot plant on a fixed price/guaranteed performance basis. The operating cost is estimated at 11 australian dollars per barrel and compares well with the operating costs of the oil sands in Canada. If the operating cost is confirmed once the pilot plant works the price of the stock will explode. I know of only one broker in Australia (Wilson HTM) who follows the company.