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Gold/Mining/Energy : American International Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: qdog who wrote (7340)	2/10/1998 10:01:00 AM
From: Daniel P. Dwyer	Respond to of 11888

GF is on the horns of a dilemma. Assuming that there is no current read out to verify the potential reserves of the magnitude discussed, but also assuming that there is good reason to believe in Chikuduk's potential, GF could be thrown a lawsuit, in either event of letting the warrants expire or extending them. In the latter case, because he is diluting the stock for a song and in the former case because he is shafting current holders who have come to expect the extension. However, I think the announcement of BT's appointment as transfer agent could be interpret as a signal to the market that it had better take the termination date seriously. In hind sight, it might have been a signal to sell. In fact the warrants did sell off on the news. What could save the situation - and the event I think is most likely -is that there will be sufficiently good news about Chikuduk to raise the stock above $5.5 before the end of the month. Warrant holders should not expect to make a big killing here unless they buy at these prices and the news comes out before termination that lifts the stock. But that's a risky propostion, because you are guaranteed to lose if no news comes out and the warrants are not extended. Dan Dwyer