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Gold/Mining/Energy : Indo-Pacific Energy Ltd. (INDX) -- Ignore unavailable to you. Want to Upgrade?

To: Omar who wrote (756)	7/22/1998 9:32:00 PM
From: Atlas	Read Replies (1) \| Respond to of 866

Omar: Just a little information to back up my post last night. INDX owns 233,510 shares of Trans-Orient Petroleum Limited. THe information can be found on page 23 of the 1997 INDX annual report, under note 3-marketable securities of the consolidated financial statement. On page 24 of the annual report you can see the break down of the permits. If you look at PEP38256 it mentions the relinquishment of one-half the original area by August 25, 2000. I am not sure if transferring working interest satisfies this requirement. I also, have been a INDX investor for a while! I also follow the drillers and service companies. Oil companies are scrambling, or had been scrambling for rig availability dates up to last October. The demand is still there. I also talked with INDX Investor relations. Looks like we have 4 wells besides NGATORO planned for the second half. With the possibility of one more off shore well if a rig is available. Also, PPL38706, partnership with Fletcher, the permit requires a drill by 7/31/98. So this permit looks like it is going to expire. INDX owns a 7.75% interest. Have not heard of any news which would lead me to believe they are drilling. Atlas Atlas