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Gold/Mining/Energy : Arcon Energy (MIDL Presently) The Ultimate Sleeper -- Ignore unavailable to you. Want to Upgrade?

To: Gr8Karnac who wrote (803)	5/26/1998 4:42:00 PM
From: makin_dough99	Respond to of 4142

WIth the wide spread and swings, many traders probably got in & out with profits and then purchased at day's end for the dividend.

To: Gr8Karnac who wrote (803)	5/26/1998 8:43:00 PM
From: Dave Gore	Read Replies (1) \| Respond to of 4142

The only reason the "P"'s are trading at a big discount is that the conversion to 35 shares and the dividend are not happening until Oct . 1, 1998 and 1999 respectively. In other words, if you think that MIDL is going to simply maintain a $1.00 per share price for another year and a half, then even paying 35 -40 for the "P's" is a good price. Of course if the common hits $5.00 in a year and a half, or $10 more likely if things go right, then the "P's" and the "W's" are the buy of the century. It is the UNCERTAINTY OF TIME that keeps these low. That is why if you like MIDL long term the P's are a steal!!! Just like the warrants are. However, the warrants are much closer, IMO, to realizing fuller value, perhaps only a few days away. I like them both and own some of each.