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Gold/Mining/Energy : first star energy FST on the ASE -- Ignore unavailable to you. Want to Upgrade?

To: RIK who wrote (387)	5/1/1998 11:15:00 PM
From: wayne cath	Respond to of 754

House Positions for FST from 04/02/98 to 05/01/98 Ex House Bought Av/Sh Sold Av/Sh Net $Net A 077 Peters 610000 0.76 45000 0.83 565000 -426539 A 080 First Marathon 337400 0.78 150500 0.85 186900 -134809 A 059 James Capel 155500 0.85 47000 0.78 108500 -95549 A 039 Midland 435500 0.69 340800 0.79 94700 -32938 A 086 Whalen, Beliveau 181000 0.69 99500 0.83 81500 -42616 A 085 ScotiaMcLeod 398000 0.75 329000 0.80 69000 -32326 A 048 Yorkton 655500 0.80 594400 0.81 61100 -40724 A 066 Union 100000 0.85 45000 0.76 55000 -50940 A 052 McDermid 558000 0.68 505000 0.74 53000 -7524 A 018 Georgia Pacific 472000 0.83 427000 0.87 45000 -22605 A 091 CT International 57600 0.81 17500 0.92 40100 -30377 A 029 PI 86600 0.89 49100 0.94 37500 -31327 A 040 Cdn Western 128500 0.72 92500 0.77 36000 -20671 A 024 Merrill Lynch 40000 0.75 5000 0.80 35000 -25960 A 038 Golden Capital 50500 0.79 30000 0.91 20500 -12440 A 044 Jones, Gable 68500 0.87 52000 0.50 16500 -33805 A 013 Brink 10000 0.75 0 0.00 10000 -7500 A 058 Oliver 61000 0.60 59000 0.82 2000 11690 A 055 Odlum 33500 0.75 32500 0.84 1000 2190 A 041 Latimer 3000 0.78 3000 0.92 0 420 A 068 068 449100 0.78 449100 0.79 0 5406 A 031 Global 278000 0.70 283000 0.76 -5000 20346 A 042 Loewen 30000 0.56 44000 0.84 -14000 20225 A 087 Wolverton 72500 0.67 94000 0.69 -21500 16274 A 063 Levesque 103100 0.75 128100 0.67 -25000 8965 A 026 Haywood 70000 0.84 115000 0.80 -45000 33420 A 009 Nesbitt 693500 0.80 754500 0.77 -61000 27732 A 006 Green Line 566500 0.81 631000 0.76 -64500 20469 A 008 Research Capital 70500 0.84 176500 0.89-106000 97645 A 082 DS 743589 0.74 860780 0.76-117191 99147 A 035 Canaccord 1653400 0.771820600 0.67-167200 -41101 A 078 CT Services 373000 0.71 633000 0.82-260000 255452 A 090 Gundy 355280 0.80 987189 0.76-631909 470372 Total 9900569 0.769900569 0.76 0 0

To: RIK who wrote (387)	5/2/1998 1:37:00 AM
From: Ed Pakstas	Read Replies (3) \| Respond to of 754

>>>Ed , how do you read this financing ? <<< RIK, I personally don't see any problem with this financing, other than the fact of further share dilution... It's going to add a helluva lot of cash into the company coffers... The fact that it is able to raise such an amount, is IMO, in itself, a good indicator for the potential of this well... Who gave them the money doesn't matter in my books, as long as someone did... I/we see this type of financing happening all over the junior markets...For example: In the mining/exploration sector, GNU just financed NAI at seventy some odd cents to the tune of $2mill and the stock is trading 1.80...GNU did two crosses of a million shares each, one 1.47 and one at 1.70 to raise the required funds for NAI, in turn they got a few million shares at .76...Whatcha going to do... Have u got a few mill that you can tie up for a year??? I know I don't... I also know that if I did have it, I sure as hell would want to know what it was I was putting the money up for and how good my chances were for recovering said funds (not including some profit) a year down the road... Rest assured, if this well comes in, you won't see that paper hit the streets for a helluva long time... Think about it... What better way for some people in the know to make a chitload of cash... For all we know, a major could be coming into this company via the back door... Here's a scenario for you... Well comes in...Major (drilling operator) chomping at the bit for corporate control...Major finds out who is holding controlling blocks of stock...Major steps in and bids for them or he may already have them...Insider or maybe friends of the major sell the blocks of paper to the major at tidy profits...Since paper is already off shore (probably in a tax free haven), insider and or friends make a tidy profit, tax free.... Major keeps it off shore, has controlling interest and benefits from the cash flow of the company... Ask yourself wy the TKE is looking to set up a "poison pill" for the Insider's...Gonna make it a helluva lot more expensive for someone to come in through any door...Now I don't know if the FST has one already in place, but it wouldn't surprise me if it was in the works... On the other hand, it maybe to late for them already... Company needs cash...Drilling and all its accompanied services are not cheap...All subcontractors have to be paid by the terms of their agreements...They don't give a chit if the well comes in or not... I like Viper's thoughts and they make perfectly good sense, if there is anything to this play... FST has a major interest in the whole play...Tight hole status not only gives the major the opportunity to assess all sources of info on the well, but, MAY not only give them the opportunity to obtain more surrounding lands, it can also give them the opportunity to go into the open market and pick up shares of a particularly targeted company in order to obtain a larger percentage interest in the play...Ten or fifteen percent of the total issue of FST would give them controlling interest in this particular property and also put them in the driver's seat... Just my ramblings and my thoughts... ...ed