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Gold/Mining/Energy : RIS Resources International Corp, RIS-V -- Ignore unavailable to you. Want to Upgrade?

To: darko who wrote (161)	6/27/1998 7:30:00 AM
From: Traveling Man	Read Replies (1) \| Respond to of 250

Darko, Just a guess,but I re-read it,also, and the fact that they used several million $ earmarked for Bird Canyon is why I think Brian feels this way. It could mean they are optimistic and won't even need that cash for gas gathering or pessimistic and have decided to utilize the $ in a new way. Hard to figure. Fundamentally, there is no price built into RIS shares for the gas gathering revenue, so the downside still is whatever UP shares do,IMO. With Bird Canyon,RIS is more valuable than UP,w/o will continue to be a surrogate for UP,IMO. TM

To: darko who wrote (161)	6/28/1998 7:52:00 PM
From: Brian Diggle	Read Replies (1) \| Respond to of 250

RIS has interests in the Green River Basin pipeline (25 % I think) and interests in the Green River Basin producer/explorer Ultra Petroleum. This small company has purchased for US $ 1 000 000 an option to spend another US $ 109 000 000 to acquire 75% of this pipeline. ($ 59 000 000, July 1 1998; $ 50 000 000). With the purchase of the shares in Pennaco whose property is in the Powder River Basin, the company is begining to diversify geographically (somewhat) and in terms of "gas geology" (in a big way). I'm reading between the lines of the last one or two paragraphs of the press release, but I think (I hope) that the company has re-thought its decision to put all its eggs (& 109 million borrowed eggs) in the Green River Basin. If I'm right, then when the company does not exercise this option, ie does not come up with US$ 59 000 000, the share prices will decline. That's when I will take my initial position in RIS. I already have two bets on the GRB: Ultra (VSE:UP); & Colt Energy (ASE:COE). If I'm wrong & the company comes up with the $ US 59 000 000 financing then I will not be taking a position in this company for the following reasons: 1. I already have two bets on the GBR & I don't need a third. 2. I'm not interested in a "commodity company" like a pipeline company. When Ultra and if Colt becomes "commodity companies" I will sell. Brian