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

To: Dave Gore who wrote (2026)	6/1/1998 12:52:00 PM
From: Ripley	Read Replies (1) \| Respond to of 4142

Dave The way I understood the original release, you got the "dividend" now, but they didn't convert until 1999. As far as I can see there is no change in when you get the P shares. The change is in when the P shares actually convert. (And the fact it is now a split vs a dividend.)

To: Dave Gore who wrote (2026)	6/1/1998 1:08:00 PM
From: Ga Bard	Read Replies (2) \| Respond to of 4142

Dave your intrepretation is wrong I do not see how in the world you came up with According to the Press Release on May 18th, I can get an extra "P" for every two "P's" I own, IF I HOLD THE "P's" until Oct. 1, 1999. Maybe I am clueless but I do not see anything to valid what you are saying here. The news release states that for every share of exisitng P you will get an additional share and the legend or conversion is for Oct 1999. Where does if you HOLD til Oct 1999 come in? GB

To: Dave Gore who wrote (2026)	6/1/1998 2:46:00 PM
From: Jay Lowe	Read Replies (2) \| Respond to of 4142

Dave ... regarding your assessment of MIDLP split vs. dividend ... You are right, in the sense that the 3:2 split alternative accelerates the possible dilution attendant on the 1:35 conversion which may or may not occur on 1 Oct 98 (pending stockholder vote). Several posters have already expressed their desire to vote to postpose the conversion of all MIDLP to 1 Oct 99 (or whatever) ... as well as their desire to postpone it indefinitely, since they prefer to never convert. Because of the various uncertainties, I think it's premature to predict the relative benefits. Characterizing the company's actions as "unethical" seems to me to be slightly exaggerated ... I might use the word "confused" or "uncertain" or even "ill-considered" ... and I can clearly see how the confusion arose from the company's expression of intent outrunning their understanding of their options. The split alternative comes with a mix of features, some good, same bad. The dividend alternative comes with a mix of features, some good, some bad. I myself feel ambivalent ... either way, I don't see a clear balance of advantage/disadvanteages to either alternative. You concern about the possible dilution timing IS valid ... but so much is unknown at this point to be able to predict which way things will settle out. I hold a lot of MIDLP and even more MIDLW ... so we're in the same boat, experiencing the same breezes, if that helps at all. You are not alone in your concerns ... what we need now is more information, which will take time, rather than heated words. Besides, the "dividend" press release is on record ... the company stands to take some pain if the split can be unambiguously shown to be of detriment to the stockholders, eh? From that point of view, we have the best of both worlds. You technical concern IS valid, tho ... if you state your concern in different terms in the future others might be more enabled to respond to your content instead of your "tone". Thanks!