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

To: Zeev Hed who wrote (7742)	2/10/1998 4:32:00 PM
From: John A. Paul	Respond to of 9164

Zeev: When the volume approached 1 million (finished slightly over), I jumped back in (at 2 27/32). I don't claim to know what's up, but I couldn't let the train pass me by. Back on the couch; I guess I should have trusted that "inner voice" that told me to get back in at 2 1/8 last week. Let's see where we go from here. JP

To: Zeev Hed who wrote (7742)	2/10/1998 10:00:00 PM
From: Bill McCabe	Read Replies (1) \| Respond to of 9164

Zeev, $4 is the # quickly. Where is Pluvia? Knight was at the bid & the offer at the close. Who are they? They took in 30,000 at 2 7/8 the 6th to the last trade with only 6,000 going out a 2 15/16. The upper channel line is at $4.12 to $4.18. We broke the 50 & 100 day moving average & I assume the 200 day today. ( I forgot to look). All technical indicators say $4. By the way I margined down and bought more at 2 15/16. Hope my wifes attorney has a sense of humor. This all makes no sense but the charts resemble Sep 96 very much. I checked the 200 day ma & it is $3.06 which hopefully will be tommorow. Bill McCabe

To: Zeev Hed who wrote (7742)	2/11/1998 7:12:00 AM
From: freelyhovering	Read Replies (1) \| Respond to of 9164

Zeev--OFF TOPIC--Any value to the FA on RNTK? TIA, Myron

To: Zeev Hed who wrote (7742)	2/11/1998 1:04:00 PM
From: Vic HiDuke	Read Replies (1) \| Respond to of 9164

Everyone: This is lurker Vic Hiduke. I believe that I am the first to reference this article on this thread that came out after the market close on Friday. If I am not the first, forgive. Seems to me that this article is the current driver of the price. Interesting paragraphs deep in the article. Forgive the uneven lines. Vic Arakis (NASDAQ:AKSEF) holders optimistic over new CEO Reuters, Friday, February 06, 1998 at 17:58 By Jeffrey Jones CALGARY, Alberta, Feb 6 (Reuters) - Shareholders of Arakis Energy Corp were optimistic on Friday that its selection of a well-known Canadian oilman as chief executive would start some upward movement in the long languishing stock. Calgary-based Arakis, part of an international consortium developing a 12.2 million-acre oil concession and a pipeline in strife-torn Sudan, said on Friday it hired former Shell Canada Ltd (TSE:SHC) executive Ray Cej as president and CEO. Cej (pronounced "say") held numerous senior positions at Shell Canada from 1969 until 1995 when he resigned as head of its resources division. He was most recently chairman of Kyrgoil Corp (TSE:KGO), a firm with operations in the Kyrgyz Republic. "This adds a lot of credibility to Arakis and some competent executive ability," said Bruce Lazier, analyst with Dallas-based San Jacinto Securities, a firm closely associated with 11 percent Arakis owner Sands Petroleum AB (SWED:SAPE.B). "This is the thing that we've been looking for for some time, so I'm happy he accepted." Sands, run by the Geneva and Vancouver-based Lundin family, has a representative on Arakis's board and has had an often rocky relationship with Chairman Lutfur Khan and his allies. The position had been vacant since early November when Khan, under pressure from shareholders like Sands to bring in an oil veteran to lead the company, said he would relinquish the CEO post. Arakis had four presidents in three years. Cej said on Friday that a number of factors attracted him to the job, including a resolution last year of controversy over the company's board when a number of experienced oil executives were added, and a belief in the concession's ability to yield large volumes of oil and cash flow. "There's no question that this is a very prolific basin and with the reports that we continue to get, it's been a very steady success story," Cej told Reuters. "The underlying oil as a basis for business opportunity is clearly there." Arakis and partners China National Petroleum Corp, Malaysia state oil company Petronas and the Sudan government are developing the southern Sudan concession, estimated in mid-1997 to harbor proven and probable reserves of 418 million barrels. A new and higher reserve evaluation was expected to be completed within the next two weeks. Last month, the company and its partners month awarded the engineering and construction contracts for the 900-mile pipeline stretching to the Red Sea from southern Sudan. The pipeline project was estimated to cost $1.2 billion. Contractors were already moving equipment into the region and construction was expected to start at the beginning of April, Arakis spokeswoman Kristine Dow said. Cej's first task is to secure about $250 million in financing the company will need when its partners begin making cash calls for field development and pipeline construction, likely this July. CNPC and Petronas have made project expenditures since they signed on last year to make up for Arakis's spending on the concession until that time. Dow said financing would likely be a debt deal with a small equity sweetener with the aim of minimizing stock dilution. Investors' holdings were diluted two years ago when the firm struggled to raise cash after its stock slide, caused by the collapse of a previous pipeline financing deal. Arakis also hopes to list its shares on the Toronto Stock Exchange, a move it hopes would be made at the same time as the financing, Cej said. Arakis stock on Nasdaq climbed 9/32 to 2-7/16 on volume of 1.2 million shares on Friday. Copyright 1998, Reuters News Service