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

To: Henry Volquardsen who wrote (574)	10/2/1998 3:49:00 PM
From: Edwin S. Fujinaka	Respond to of 4686

Henry,...That $5000/share figure was just a joke. It was tongue in cheek and I think I always say that it is ridiculous. It is based on a real calculation that extrapolates from the Miller Brothers/Michigan Court settlement. I projected that the entire CCO leaseholding would eventually be shown to hold around ten times the recoverable oil that was estimated for the St George site. This is based on the comment from the the Company that they have 12 other sites that they would like to drill and some of these sites are even more promising than the St George site. I then added treble damages <G>. So perhaps we could reduce the $5000 figure by a factor of thirty down to just over $100/share. As someone else suggested, in a court case (particulary in front of a jury) you throw out all of your stuff and hope that some of it sticks. I actually like the punitive treble damages idea since the State has acted in really bad faith for a business partner. Anyway, I think my $5000/share figure caused a lot of people to choke <G>. This board was really quiet for a long time after that. Sorry.