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Microcap & Penny Stocks : IDCN - gold, garnet, etc. -- Ignore unavailable to you. Want to Upgrade?

To: Jeff who wrote (176)	8/13/1998 12:59:00 PM
From: craigt	Read Replies (1) \| Respond to of 5908

One quick fact -- the PR was from CMI, not Indocan. craigt

To: Jeff who wrote (176)	8/13/1998 1:19:00 PM
From: rockets	Respond to of 5908

Jeff, some answers: I do know much about crude and NGL's. A geologist will take topos and new and old boring logs within an area to be drilled or say for secondary recovery the geo will look at an old area that was once drilled in. Stratigraphy, underlying bedrock encountered in the boring will indicate possibility of crude or NGL's. There are many many more factors involved before such a company releases this information for potential investors. With gold mining, excavations and trenching are the most common methods for determining gold within the stratigrapghy. Borings are placed into the trenches/excavation to further confirm vertical extent and determine (plate count) like an average. Most engineering firms and the companies that contract them do not wish to have 58 borings. only a few are necesary. mostly because of the upfront cost to perform these borings, and if a boring indicates there is sufficient gold then the company will ask investors for the working capitol to further investigate and remove the gold. That is how it works, in short. Where we are is: The company has released a PR indicating a share buyback. Now if you dont believe a companies true intentions that's fine. That is what investing/gambling is. You wager that someone has found $$$/worth of gold or oil or whatever. Then investors buy into it. Sometime they "strike gold" sometimes it's partially valued or not there at all. My hunch from being in the oil industry is that someone has performed the verification and wants the shares of the company. Just my opinion, if you dont agree fine. I'll take the risk at .10-.30 /share. Not much when you think about it. By the way it cost nearly 1.5 million just to set up to search for oil. That is why we have investors, same rule applies to gold. Rockets