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Gold/Mining/Energy : Solv Ex (SOLVD) -- Ignore unavailable to you. Want to Upgrade?

To: David Coakley who wrote (5905)	8/5/1998 9:53:00 PM
From: Gary L Schultz	Respond to of 6735

David, I have a feeling that BIG OIL, Inc., was not threatened by SOLV. After all, 100,000 barrels/day of bitumen is nothing with respect to the amount of oil this country consumes daily. The amount of oil SOLV could extract (if they could have lived up to their wild claims) is insignificant. Besides, I have a feeling that BIG OIL, Inc. is obtaining from offshore (ie North Atlantic) all of the sweet crude at a much lower cost and of a higher quality than anything they can suck from the tar sands. No, I think Big Oil, Inc. is just that...BIG. And being big, they want their fingers in every nook and cranny of this industry. I haven't seen any literature that suggests that BIG OIL, Inc.. is buying used log washers in order to begin their tar sand extraction business. Nor does the use of hot water to extract the oil infringe on the SOLV patent. Remember, the first person to demonstrate that oil (bitumen) could be extracted from the sands used a washing machine! If he used hot water in his washing machine, does he have a potential claim against SOLV? No. In order not to dominate the board, I'd like to comment on what Mark's impression of JR when hearing him speak. Mark, it strikes me that a swindler would say EXACTLY what you (and I heard him say once in Des Moines) heard at the seminar. "...If you have millions - don't invest it all in SOLV". Hardly the kind of admonition a true millionaire needs to be told! Millionaires already possess that tidbit of common sense or they most likely wouldn't be millionaires!!! No, that utterance by JR was intended to impress the poor, unexperienced investor - much like he seemed to have impressed yourself. Let's consider what Herb (aka Herbie) Campbell said in a press release in 1997. I can't forget this one! Herbie was quoted as saying that SOLV should be selling for 300.00 or more per share based on it's holdings (ie the lease). Now, Herb is a lawyer, but he sure ain't an accountant!!! Herbie reckoned that the estimated reserve in the lease times the spot price per barrel for bitumen, divided by the total float in the stock should represent the 'true' price of the stock! Absurd, yet no one ever took him to task except for me, as far as I'm aware. Oh, the longs spouted these kinds of valuations for months, and I think they honestly believed what they were saying. Authur Andersen and Co. would have rolled over from hysterics if they'd heard this! There are many other examples of the wild ass claims this company has made in the past. The sad part is that they are probably going to be allowed to make even more in the future. Gary