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

To: Tom Frederick who wrote (564)	10/2/1998 12:41:00 PM
From: Robert Furman	Read Replies (2) \| Respond to of 4686

Tom & Ed, I agree with your analysis, but, when the numbers get beyond the ability of the state to pay, they will do ANYTHING to keep from paying. Remember, within reason, they make the laws. I as a long time holder of Coastal, hope we are not playing the fiddle while Rome burns. Bob

To: Tom Frederick who wrote (564)	10/2/1998 2:19:00 PM
From: Edwin S. Fujinaka	Read Replies (3) \| Respond to of 4686

Tom,...As ridiculous as the $5000/share calculation is, considering that a jury awarded a woman who spilled hot coffee in her own lap millions of dollars, stranger things have happened. Other people have suggested that a valuation in triple digits was possible (over $100 per share) and I concur. A Court determined, appraisal based, valuation could easily result in hundreds of dollars per share so the State should be trying very hard to settle this thing (kinda like Clinton and Paula <G>). Those estimates of $12 to $20 per share begin to look pretty low in this context. So the question remains: What will the management of CCO require to reach a financial settlement with the State? I've asked that question and I have never gotten an answer. I think that most of us here would be happy to see the stock at $5, but what is a realistic reasonable figure if the State is going to try to buy back the leases? A billion dollar buyout would result in around $15/share by my calculations.