Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera! -- Ignore unavailable to you. Want to Upgrade?

To: M. M. Jones who wrote (3102)	3/29/1998 2:14:00 PM
From: Sidney Reilly	Read Replies (1) \| Respond to of 4736

MM, <<Once the staff declares your company's Securities Act registration statement effective, the Exchange Act requires you to file reports with the SEC>> What is the company's securities act registration and why is it filed in the first place? Why did the company file the first time? Are there different requirements. <<The obligation to file reports continues at least through the end of the fiscal year in which your registration statement becomes effective. After that, you are required to continue reporting unless you satisfy the following "thresholds," in which case your filing obligations are suspended:>> That seems to be the requirements below which a company can stop reporting once it has started. What are the requirements to start reporting to begin with. I understand it is having more than 500 shareholders. If there is an asset requirement also then cut and paste the initial filing requirements, not the continuation requirements. The asset requirement would seem to be met anyhow as well as the shareholder requirement. Your thoughts that the size of the reserve could be more than 90% less than the press release to me is ridiculous. One reason is that if the reserves were that much less than stated in the press release KNE would know that and would not be spending the money to construct the gathering system that they are. KNE must have the whole story to be making the investment they are in the NAE/KNE agreement. You see, simple logic can get you past so much pessimism. Seems to me you are reaching very far to the negative side in making your assumption when the obvious facts as to what is happening says the opposite. We are still waiting for the Gruy report, we have the Geophysic estimate (which you have previously dismissed out of hand for no apparent reason) which backs up the 50.5 bcf reserve size. Bob