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Gold/Mining/Energy : Nevtah/Tower Oil Intl.- NTAH -- Ignore unavailable to you. Want to Upgrade?

To: kramc who wrote (2883)	8/12/1998 8:34:00 AM
From: Ditchdigger	Read Replies (1) \| Respond to of 3817

With yesterdays merger announcement between BP and Amoco,IMO it is pretty apparent,the "majors" are having a tough time hanging in with these low petroleum prices. Drilling contracts have been postponed or cancelled,drillers/service sector down a boatload. Do you think a "major" is really considering a new exploration project of the size(small for a major) of the Matagorda project at this time? Perhaps a mid-level,but I seriously doubt a JV with a "major", of course just my opinion..DD

To: kramc who wrote (2883)	8/12/1998 9:09:00 AM
From: Just My Opinion	Read Replies (1) \| Respond to of 3817

Kram: Not a flame. If you remember,in one of the news releases NTAH had discussed the seismics. I believe that a JV partner will be a company that is already on Matagorda. When you say a major player, are you referring to a "Major", ie, an Exxon or Texaco? Or do you mean a company that is substantial? I am placing my guess on a company that is in the area already, that knows Matagoda, and is one that will be impressive. Having a Texaco or an Exxon may sound great, but in reality the idea is to have one that can do the drilling, and will do the drilling. IMO, I would prefer to not have an EXXON etc. FWIW..In Ecuador, I had sat in on a meeting with a top official of Maxxus.(now YPF) (It concerned my friend Sam, and his tribe) I walked away from the meeting with the impression that even though this man made all the decisions, things weren't going to happen "yesterday". I feel that we are better off with a company that has Matagorda as a high priority. Matagorda will get drilled, it's just not happening as quickly as we all want.