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.

Gold/Mining/Energy : Bomax Resources - BXS.VSE -- Ignore unavailable to you. Want to Upgrade?

To: Clark Kent who wrote (178)	5/24/1998 10:18:00 PM
From: Leigh McBain	Respond to of 313

I haven't tried to reach anyone since just after I received my shareholder's package. Jim was still indicating that he had every reason to believe that the gas parcel would still become a reality. However, Walter had better have all his licensing, etc. completed because I have read a notice, I believe it was a Reuter's news article indicating that there has been a moratorium placed on privatizing any more O&G properties. I intend to reach Jim with regards to this on Monday, if he's in. My understanding is that Walter has indeed taken care of all this, but still seems like a worthwhile question to me. Salut, Leigh McBain

To: Clark Kent who wrote (178)	5/25/1998 6:28:00 PM
From: Leigh McBain	Read Replies (1) \| Respond to of 313

I spoke with Jim today and asked him about the Khazakstan moratorium on the privatization of it's O&G industry. He assured me that Walter had already completed the licensing process and that Bomax is currently executing it's due diligence on the properties in question. There is actually one field which is apparently already in production and Jim's geologists have requested engineering reports on the field and are currently awaiting their arrival, the translation is likely to take more than a day. The field has 6 wells on it at present, supposedly averaging approx. 700 bpd each. the structure is at a depth of approx. 1600 meters (5000 ft.) and the field is 4km wide by 7km long so there is significant potential for income here. We'll have to wait and see if the DD bares out but at the moment at least it seems to be moving forward. In addition there was a minor release from the exchange approving the recently announced small PP. That's it for now. Salut, Leigh McBain