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Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: ocerg who wrote (528)	8/29/1998 7:11:00 PM
From: aknahow	Read Replies (1) \| Respond to of 4686

Assume you mean many, many years ago. Barrons "hated" the John Buckley companies. Wrote all sorts of crap panning United Canso and all the others. Barrons was a big factor in the ousting of the Buckley management at UTC. and the subsequent distancing in relationship between the companies. John Buckley, brother of the famous Bill and the senator Jim, did a great job of finding Elephant sized targets, three of which hit and came into production. The political process caused him problems at every turn. A real shame. Perhaps things will change as people come to see both major parties for what are and vote Libertarian. While I own no Coastal, I got the mailing and gave a silent cheer. I hope that someday John Buckley will get some recognition he deserved.

To: ocerg who wrote (528)	8/30/1998 5:51:00 PM
From: Edwin S. Fujinaka	Respond to of 4686

Hi O,...I haven't received the PR release from Howell yet (I am on their CCO and CSPLF mailing lists) but I think the Company needs to rethink it's PR strategy. It's been almost a year since they sent out that nice PR release (dated September 6, 1997) and it had very little impact on the National Press. I thought it did provide some new public information and was nicely presented. I know that CCO views that effort as a relatively costly attempt to gain a little visibility, and they are reluctant to expend a lot of money on what is essentially a side issue (the positive publicity). I suppose they are thinking like engineers and other technical types (I'm an engineer myself <G>). The real question is: What is the point in trying to inform the public? Is it to try to get public support for oil drilling? That's like trying to make the tobacco companies appear warm and fuzzy. For me there is an issue of honest dealing and fairness. For the Government (of Florida) to enter into a formal signed business deal in good faith and then to renege on their word and intent because of political pressure is pretty despicable. For the Government to use all of their considerable power to circumvent a formal legal agreement is indefensible. Punitive damages should be awarded if they are not prohibited by law. We ought to punish public officials and the Government for abuse of power in such a blatant manner. Coastal should initiate an humongous lawsuit for the value of all the oil estimated to be recoverable from the St Georges site, multiply it by ten for the rest of the leases, and then triple the figure for punitive damages. Let's see, 618 million barrels X $14/bbl X 10 = $86 billion. Add $259 billion for treble punitive damages and we have a grand total of 345 billion dollars! Ridiculous? Of course. Such a lawsuit is only ridiculous because of the amount of money involved. It would get a lot of publicity though (if only on Leno and Letterman). It would be fun too. <G>. The Company should express a willingness to negotiate... Ed (Only partly tongue in cheek)