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

To: Mr Metals who wrote (426)	5/14/1998 10:37:00 AM
From: viper	Read Replies (2) \| Respond to of 754

Hi Mr. Metals, Thanks for the KRY compliment. As far as FST goes, APACHE has taken the tight hole status very seriously and has advised all JV partners in writing that absolutely no information is to be leaked or they will hold them responsible. I believe APACHE is planning to spend some pretty serious $$$ over the next 3 months which will include land acquisition in the area and a 2nd well in Strachan, if info is leaked it could cause over-inflated values at the land sale which I believe is posted in June and awarded in early August. A 2nd well in Strachan means another $4.2 mm expenditure for which Apache will pay 35% to earn 17.5% and FST pays 0 to earn 35% so no matter how quiet they try to keep this play info should leak in the next 2 months. There is very limited downside by holding here and although it is boring it could get very exciting at any time within that 2 month time period. Rather than wake up one morning to a leak of info, I say accumulate quietly now and sell into the leak.