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Gold/Mining/Energy : ARAKIS: HIGH RISK OIL PLAY (AKSEF) -- Ignore unavailable to you. Want to Upgrade?

To: Edward M. Zettlemoyer who wrote (9081)	9/1/1998 1:47:00 PM
From: David Wolfson	Read Replies (2) \| Respond to of 9164

Can someone explain what will happen to AKSEF shares once the acquisition by Talisman is complete? I mean, are AKSEF shares exchanged for Talisman (10 for 1?) or will AKSEF continue as its own entity? Any guesses on price movements for AKSEF? One would think if there was any enthusiasm for the deal this would already be factored into the price. Thanx, David

To: Edward M. Zettlemoyer who wrote (9081)	9/1/1998 6:43:00 PM
From: Tomas	Respond to of 9164

Calgary Sun: Talisman backs Sudan play. The rewards are worth the risks September 1. By TODD NOGIER, Calgary Sun Calgary-based Talisman Energy Inc. sees too much potential to walk away from an oilfield in Sudan even though the north African country became the target of U.S.-led missile attacks almost two weeks ago. Talisman said yesterday it paid Arakis Energy Corp. almost $22 million to cement a deal to take over the cash-strapped Calgary company which owns a 25% stake in the $1.4-billion Sudan oilfield. "This is a world-scale, highly-visible project," said Jim Buckee, Talisman president and CEO. "I believe this project will be good for Talisman and, in time, good for all of the people of Sudan." The two companies announced a friendly take-over deal worth $295 million just prior to a surprise missile attack Aug. 20 on a suspected terrorist site in Khartoum, the Sudanese capital. The bombing raised doubt about the deal, which won't be complete until shareholders vote on it in October. But Sudan's reasoned response has instilled confidence in backers of the project. Arakis shareholders can breathe sigh of relief as yesterday's announcement seems to confirm their involvement in a project it believes has so much potential. "It's our view that Sudan has come out of this experience stronger because they haven't behaved in an irrational fashion," said Tom Milne, Arakis vice-president of finance and chief financial officer. "In my gut, I love it. I think it's great for our shareholders that this thing has moved along." Talisman has told Arakis it will keep some of the smaller company's approximately 80 employees, including some 60 overseas, to help in the transition. Milne said Talisman can take advantage of Arakis' years of experience in dealing with the Sudanese government and its people. canoe.ca