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Gold/Mining/Energy : Arconenergy, Inc. (Long Term Investors and Fundamentals) -- Ignore unavailable to you. Want to Upgrade?

To: Charger who wrote (1140)	5/7/1998 5:28:00 PM
From: Vinnie	Read Replies (2) \| Respond to of 1757

I too finally jumped in on this one a few days back, but with the preferred. After looking at MIDLP and MIDL for a while, and calling the company for further details on the conversion, it became apparent to me that MIDLP was trading at a significant discount to the common. I got MIDLP at 15, which works out to roughly 43 cents per share of common after conversion....plus, you end up with 40 warrants (convertible at $1) for each MIDLP share. Honestly, I was amazed that anyone would sell at that price. I'll just sit on this little nest egg for awhile and see what hatches !! Vinnie