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To: Cynic 2005 who wrote (3057)	7/15/1998 11:42:00 PM
From: Joseph G.	Respond to of 86076

Evil shorts are on rampage: [How would anybody know - read the definitive boldfaced statement] <<Triton keeps mum as shorts rip its stock By David Chance NEW YORK, July 15 (Reuters) - Short sellers had a field day with Triton Energy Ltd's stock again on Wednesday as the company maintained its silence on prospects for the sale of its assets in Colombia and the Gulf of Thailand. By the close of trade, Triton's stock was down $2.75, or 8.7 percent, at $28.875, well below the $40-$50 per share value many analysts attribute to its oil and natural gas assets. ''Triton traded down to $25 in the first quarter, so we are not in uncharted territory, and stocks in the sector are very volatile and not very liquid,'' said Phil Pace, analyst at Credit Suisse First Boston. Pace is sticking with his $50-per-share valuation for Triton's 9.6 percent stake in Colombia's Cusiana and Cupiagua oil fields, one of the largest oil discoveries in the western hemisphere, and its 40 percent stake in the Gulf of Thailand A-18 block, which has a gross resources base of 12.5 trillion cubic feet of natural gas. Even as the stock fell, on top of almost a 6 percent dropTuesday, Triton kept mum on whether the company was holding a board meeting to discuss proposals for its prospects. The stock is down from over $42 just after Triton made the announcement it would seek buyers for its assets. ''The short sellers are running the stock, the further this company goes without an announcement,'' one Triton stockholder said. Valuations for the company range from a low of $20 per share to as much as $55 per share, depending on how analysts see the impact of the Asian financial crisis on natural gas demand, and the willingness of oil majors to invest in Colombia, where a bitter guerrilla war is being fought. Pace said he had no reason to alter his valuation, but it was possible Triton's management had failed to receive a bid it believed reflected the value of the entire company, and may be now considering offers for its constituent parts.>>