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

To: Ga Bard who wrote (1470)	5/29/1998 1:57:00 PM
From: ShortThinMan	Read Replies (1) \| Respond to of 4142

Here are some facts: May 18th news release clearly says: "The second matter is a reduction of the exercise price of the Midland warrants (MIDLW) from $1.00 to $0.50. This brings the exercise price of the warrants in line with the common. All other conditions concerning the warrants will not be effected. As soon as the registration statement registering the common stock underlying the warrants becomes effective, the warrants may be exercised. " Second, I spoke with Waterhouse Securities today about the warrants, and here is what I was told. The strike price is .50 good until Aug. 14th 2001. This came from Waterhouse Securities. I don't see it any other way, these are the facts. Until a news release comes out stating something different then its .50 strike until 8/14/2001.

To: Ga Bard who wrote (1470)	5/29/1998 1:57:00 PM
From: RavMan	Read Replies (2) \| Respond to of 4142

Gabard: You are right , they are trying their best so that people don't exercise the warrants...CHEck this email Rav Return-Path: mike_bigdog@hotmail.com X-Originating-IP: [208.255.118.13] To: goodsonk@ssg.gunter.af.mil Subject: MIDLW Date: Fri, 29 May 1998 08:36:48 PDT In my opinion. MIDLW, will be a big play this afternoon. The company itself is sending out a massive Email and there are said to be 2 releases this afternoon. Try to hold on as long as you can if you buy in, they are very undervalued and no telling how high they could go. Mike Thanks, Mike / BIG DOG

To: Ga Bard who wrote (1470)	5/29/1998 9:21:00 PM
From: Mike Roberts	Read Replies (1) \| Respond to of 4142

Gary, I just relayed what I was told by Dan Fisher. He did not mention anything about the 1.25 for ten days thing. When I explained to him that what he said conflicted with the news release (which I have read many times) he said 'Yes, I know'. Essentially that was it. He also mentioned tests from EXXON could take anywhere between two weeks and two months FWIW. I DO hope he was wrong and the news release has the correct terms. I also exercised a whole whack of warrants today.